Verona Wisconsin housing market and Epic!

Have you even wondered what sort of an effect a single company has on a small community in the housing market?

In our community, Verona, a small City of under 10,000 people to the sough west of Madison Wisconsin, and the Employer, Epic, is a fairly recent edition which is growing.   Not Just growing but massively expanding.  Over the years it has been adding 500 or so employees in a single summer.  

I should state that all these numbers i throw out here are not from official sources, but rather from my interactions with friends and clients who work at Epic.  My assumptions are from experience of what has happened at Epic and surrounding areas and looking forward my own opinion of what is to come.  

For many years we have seen housing ads for sale including proximity to Epic as a selling proposition. Naturally one would assume this would be a good source of buyers.   

Having worked with numerous Epic hires, i am finding that is not generally the case.  Epic generally hires young, often single, and straight out of school.    They do not have down payments.   Now is they are slightly more mature, they are looking for homes a bit lower in price than the usual Verona home and so they end up else where.  

Where?   

There were people in communities such as Belleville, Mount Horeb, Barneveld, Ridgewood, which are all of close proximity, on major roads. They were expecting these young employees would drive the 15-25 minutes to cheaper housing.  On the whole i don't believe it has happened.   These buyers have been attracted to the larger city of Madison.  Homes are more affordable, there is more choice in rental property and the younger hires prefer the activity of the city.  

I am not saying that the city of Verona has no Epic employees, that is clearly wrong.  Many are now living in Verona.  But the Epic effect is a lot slower than we had imagined.  Yet will have a slower but snowballing effect on the areas housing market.  

What happens when all of these Epic employees, save up a down payment, start families and out grow their starter homes?  They will be looking increasingly towards Verona for housing. 

I believe that we have seen nothing yet.   But over the next 5 years and onwards, Epic employees will shape the market.   Can you say now is the time to get a home in Verona Wisconsin?

Come Home to Verona!!

Guy Lofts is a 10 year resident of Verona Wi. 

Guy runs a team of Real Estate Agents called RealEstateGuy Team with Keller Williams Realty. 

Look guy up at Real Estate Guy Madison Wi 

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