Real Estate Investing: The Benefits of Getting Licensed
Real Estate Investing: The Benefits of Getting Licensed You might be considering getting into flipping real estate and wondering whether or not it's worthwhile to get a real estate license or if it's better to partner with a realtor. We've decided to help you out with a list of pros and cons. Let's start with the pros (stay tuned for a post fleshing out the cons) - If you decide to get your license, you will have to hold your license with a brokerage for a minimum of two years. You will also have to demonstrate a history of successful sales before you can have your own brokerage and work independently. As a licensee with a brokerage, you'll have some help and support and protection if you need some hand-holding. Brokers are responsible for the agents that work with them and have a vested interest in their success. Most offer free training regarding the real estate process. Secondly, when you have a license and represent yourself, you may be able to reduce your commission or waive the bulk of it to make your offers more appealing. This opportunity depends on your brokerage policies, so make sure you check those out before you sign on with a broker. Additionally, you can list your own finished product and only have to pay a buyer's agent, instead of both a listing and buyer's agent. This is assuming you're a full-time realtor with a track record of successful marketing. You should fare much better than most for-sale-by-owner sellers who typically fail to maximize their opportunity on the market. Most importantly, you will be able to successfully navigate the real estate transaction, and won't be dependent on someone else's availability or lack of knowledge. As an added bonus, you will also have the ability to sell for others for additional income. If you're still wondering if this is the right option for you, follow us on social so you can check out our next post and video on the cons of this route. Let's talk soon.
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HGTV vs Real House Flips HGTV makes flipping houses look so easy. The reality, however, is that it's nothing like what they portray. The episodes are scripted, and planned, and that's just not the way it happens in real life. Now, you're probably thinking, "What's the difference?" First of all, you need a good amount of time to invest, and you need available capital if you want to be successful in the world of flipping. You have to be able to plan for any unforeseen circumstances becuase reality is, they will happen. The big question you have to ask yourself is, "Do I truly have the time and the money to overcome these issues and costs?" The first step you should take is to find a good group of professionals to turn to for advice. You need to make sure that if you choose to use a realtor, that that agent understands the process from beginning to end. You want them to give you a reasonable evaluation of the property and the potential profit that you could gain; whether you buy to repair, restore, flip or keep the property for long term. Our team has helped hundreds of buyers and sellers throughout the area, and we have a great grasp on what makes this market tick. If you would like more information to help on your investment journey, subscribe on YouTube or follow us on social media. Let's talk soon.
Read More What is Your Investment Criteria?
What is Your Investment Criteria? Can you buy a house for rent in the same way that you buy an apartment building? Of course you can. And you may be surprised to learn that getting started in real estate investing is not as scary as you think. Defining your personal criteria for real estate investing is a key and vital piece to starting your journey. It's important to start asking yourself these questions before jumping in to purchasing a property. What is your strategy? Is it buy and hold? Wholesaling? House flipping? Is your goal of cash-on-cash return? This is a level of cash flow or returns that you want on your investment. Your budget. Your budget may be surprisingly difficult to define, based on your goals. Property size - single-family, town home, condos, fourplexes, or multifamily. The process of buying your first investment could be really enjoyable or a total nightmare if you don't know what you're looking for. Let's work together to identify what your goals are and how we can best get you to where you want to be. Our team is here to help you find the best strategies that fit your goals when it comes to selling and buying. Let's talk soon.
Read MoreDane County Housing Market Update - January 2022
Dane County Market Update - January 2022 Last year, the real estate market got a little bit out of hand. We were seeing $50,000, $60,000, $100,000 over asking price. Buyers were buying without appraisal or inspection contingencies, and it was nearly impossible for someone to purchase a home if they had a home sale contingency. So what does that mean for today, and what does 2022 have in store for us? Quite frankly, many of us are expecting much of the same for 2022 - a severe lack of inventory, historically low interest rates, and high buyer demand are all going to form a perfect storm that fit together to create high levels of competition and rising prices. Let's take a quick look at where we've been so we can better understand where we're going and how that affects you in the 2022 real estate market. Through November, Dane County almost set a record for homes sold: just over 8,100. That's nearly double where we were 10 years ago. It's quite likely that we're going to see that 2021 set a record for annual number of sales. Likewise, median sales prices also set new records in 2021. We hit $365,000 for the median sales price in June and rates remained low. At the end of the year, interest rates were typically 3% to 3.25%. Finally, 2021 gave us the fewest number of listings we've seen in Dane County since the MLS started keeping track in the late nineties. This means we failed to keep up with demand by replacing the houses that went off the market. What does this mean moving forward? Should you sit the year out? Not exactly. In fact, I shared, in another recent post, the dangers of sitting this year out and waiting for a more buyer friendly market before you purchase your home. In short, waiting to buy is likely going to cost you thousands of dollars due to rising prices and increasing interest rates. It might be best to dig in your heels and make something happen so that you can get the most house for your money. If you are planning to purchase a house this year, it is absolutely essential that you connect with a realtor and a mortgage lender as soon as possible. Realtors will help you stay on top of new properties hitting the market much faster than your own online search on Zillow or Realtor.com, and we can advise you on the best strategies for you to use to put together a winning offer. Meanwhile, your mortgage professional should be a local lender with a strong reputation among local realtors. They will help you work to create your financing options and get you pre-approved so you know exactly what your budget is. In a competitive market, the reputation of your realtor and mortgage lender could be the difference between you getting that dream home you've fallen in love with or losing out to other offers. Choose wisely. Sellers, do not rely on the market to do the work for you. The best offers will come in on the best houses with the most exposure. Sellers that really want to capitalize on this market need to take all the steps necessary to make their house shine - make sure you work with a realtor that's going to maximize your exposure with their marketing so you can reach the highest number of potential buyers possible. Sellers, beware. The lowest cost or the biggest promises are not a good reason to work with a realtor. Make sure you hire an agent that can fully support any price that they promise you and make them show you exactly how they're going to use their marketing package to meet the highest number of buyers they can. If you have any questions about your unique situation, give us a call. We are always happy to talk.
Read MoreFive Things to Know Before Investing in Real Estate
Five Things You Should Know Before Investing in Real Estate Do you want to get a head start on becoming the next Chip and Joanna Gaines? Maybe you're new to real estate investing, and you don't know where to start. Here are five tips to help get you started. One: Become laser focused on the area that you're going to work in. Think zip code rather than area code, so you can get a strong understanding of the dynamics that affect that market. Two: Determine what you're looking for - rental or flip, fourplex, single home, duplex, student housing, vacation home, or Airbnb. There are many options when it comes to real estate investing and knowing what game you're looking to play helps you gain the knowledge and confidence to dive in. Three: Should you work with a realtor or get your own license? We'll cover the pros and cons of this approach in a future post, but you'll want to consider whether or not you want to invest the money and the time to get your business up and running with a license. Four: Who is your team? Is a realtor involved? Need a contractor? Is there a business partner? Will you purchase as an individual or an LLC? Determining who is on your team and how your team is organized will help you make better and quicker decisions along the journey. A great real estate team can save you a lot of time and provide valuable insight into market conditions and negotiations and use their network to help you find that diamond in the rough. Five: Financing - how you get your money is an important detail. You might find out that financing an investment is much different than financing your primary home. Depending on your investment goals, you may have to look into hard money lending, finding a private banker or looking into other creative financing options. If you want to learn more, be sure to follow us on social media and subscribe on YouTube to catch the rest of our investment videos coming soon. In the meantime, feel free to drop a comment or reach out with any questions. Let's talk soon.
Read MoreJanuary 2022 Housing Market Update: Oregon, WI
January 2022 Market Update: Oregon, WI Hey there, Oregon! 2021 was quite the year for our local real estate market. Prices jumped, inventory stayed low and competition for the best houses was fierce. What does that mean for today? Let's take a look at where we've been and where we're going in the Oregon, Wisconsin housing market update. If you are thinking of selling this year you'll want to make sure you stick around until the end where we have some really interesting information that could save you thousands of dollars on your home sale. I'm sure you've all heard the stories of the 2021 market, right? 97 offers on a property, $500,000 over asking, houses selling before the seller even knew they were going to sell their house. Those may be exaggerations, but there is certainly some truth to what happened last year. While December data is still trickling in, Oregon had the first year since at least 2011 (which is where my data stops) in which number of homes sold outnumbered the number of homes coming on the market. It's important to note that despite this, the number of listings coming on the market were not that far off from previous years. This is a great demonstration of the high buyer demand. Oregon, WI finished the year with only 16 houses active on the market. This is a reduction of at least 30% over each of the previous years. In 2021 Oregon hit a record (surprise, surprise) with a median sales price of $405,000 for single family homes - a 13% increase over 2020. So, that's last year and where we've been - what does that mean and where exactly are we going? Quite frankly, we expect this year to be very similar to last year, although maybe dialed down just a little bit. Does that mean you should sit the season out? Well, not necessarily. As I've discussed in a previous post, waiting out the season, or waiting for the market to shift, could cost you thousands of dollars down the line in terms of rising prices and increased interest rates. Here's our current advice for local buyers and sellers: Home buyers, if you are looking to buy a home, it is essential that you connect with a realtor and mortgage lender as soon as possible. Realtors can help you stay on top of properties, be aware of properties before they hit the market and connect with properties that aren't even going on the public market; whereas, your online search data is often going to be delayed when compared to what your realtor can offer you. Plus, realtors can advise you on the best strategies for you to use in competitive offer situations. Meanwhile, your mortgage professional should be a local lender with a good reputation among local realtors. They can help you come up with creative financing options and let you know what your preapproval amount is so you can define your budget. In a competitive market the reputation of your realtor and your lender could be the difference between you getting your dream home or losing out to other offers, so choose wisely. Buyers should continue to be prepared to make aggressive offers and get a little outside of their comfort zone if they want to win in this upcoming spring market. Sellers need to make sure that they do not allow the market to do the work for them. The best offers are going to come in on the best houses, and those are the ones in which the seller did not skip the work. Sellers that really want to capitalize on this market need to take all steps possible to make sure that their house really shines in addition to working with a realtor that's going to use new and aggressive marketing tactics to get their house in front of as many potential home buyers as possible. Oregon sellers, you may want to keep an eye on another interesting statistic. Based on information I compiled from the South-Central Wisconsin MLS: Oregon based realtors, that is realtors that live in Oregon and focus their business in Oregon, averaged 11 days on market, while all other agents, including those that charge a flat rate for their service, averaged 34 days on market. That means outside agents took three times as long to sell your house. Three times? That's insane. Why does that matter? It matters because homes that sold over asking price averaged nine days on market, whereas houses that sold under asking price averaged 65 days on market. Time on the market matters and it's going to affect your bottom line. In addition, properties listed and sold by an Oregon-based agent sold on average for $7900 over asking price, meanwhile, properties sold by outside or flat rate brokers sold on average $2600 under asking price. That means there is a $10,000 swing in the difference between an Oregon-based listing agent and an outside based listing agent. In town we have a ton of great realtors with a bunch of different attributes from all sorts of different brokerages that have many different avenues and ways of doing things. If you pick somebody local you're probably going to be in great hands. As always, if you have any questions about your unique situation give us a call. We're always happy to talk and help our Oregon, Wisconsin neighbors.
Read MoreNational Housing Market Update - January 2022
January 2022 National Housing Update Welcome to 2022! As with any new year, many of us are wondering: what does this year have in store for us? We don't have a crystal ball, but if we take a look at where we've been and where we're sitting right now, that sheds great light into where we're headed in 2022. Our prediction for the real state market in 2022 is that we will continue to see an increase in prices as well as a high level of buyer competition - similar to what we saw in 2021. The lack of inventory, the high demand of buyers and the historically low rates are sure signs that the market will continue to remain hot. In 2021 there was such high demand and lack of inventory that prices continued to creep up. Buyers across the board were willing to pay more than listing price for homes, giving sellers almost anything they asked for. Sellers had all the leverage and were taking offers with little to no contingencies - and the terms of those offers were most often in the sellers' favor. According to a recent report from the National Association of Realtors, growth in the housing inventory has slowed over the past decade in the aftermath of the 2008 housing crisis creating an underbuilding gap of 5.5 to 6.8 million housing units across the country since 2001. We have seen a surge of home sales since the pandemic, and in 2021, many regions set records for year-end home sales. What about home appreciation? The average consensus from our expert panel is that home prices will rise 5.7%. Rates are also a big topic of discussion. Most experts believe mortgage interest rates will increase in 2022 with the Federal Reserve raising interest rates at least two times. It's important to understand that from an affordability standpoint, a consumer buying a home today, versus a few years ago and potentially in the near future, is going to have a lower total payment, even though prices have gone up, since interest rates are currently so low. Based upon all the data - with interest rates still incredibly low and the buyer demand extremely high, as well as fewer homes hitting the market - we expect that the 2022 real estate market will be very similar to what we saw in 2021. Quick recap- On a positive note: Buyers really want to buy Rates are low and should remain low relative to historical rates. The market is incredibly attractive to sellers. Sales will remain competitive, solid and strong throughout next year. Home prices will continue rising. The bad news: We're not building enough homes - there are more buyers than available homes. It is getting more and more difficult for first-time homebuyers to enter the market because of the low inventory and the increase in prices. If you have any questions about your unique situation, give us a call. We're always happy to talk.
Read MoreThe Real Cost of Waiting for the Market to Shift Before Buying Your Home
The Real Cost of Waiting for the Market to Shift Before Buying Your Home Something we hear frequently right now is that people are waiting for the market to shift before deciding to make a move. There are a lot of life events that come into play in life that affect when it's the right time to buy a house, and waiting is sometimes the best strategy. However, I think there are a lot of people waiting for a crash or a shift in the market or for it to be a better time to be a buyer. I think that's the wrong strategy. Today I'm talking to the people trying to ride this thing out and the people that want to strike while the iron's hot. If that's you, stick around; we'll go over numbers and talk about why now may be the best time for someone like you to get into the market. We are currently on the verge of entering the first quarter of 2022. If we take a look at some basic numbers over the last four years, you'll see that in each quarter we've seen an increase in the median sales price of housing. In fact, over the last three years, we've seen prices at seven to 10% higher for the median in sales price by the end of June when compared to the end of the previous year. An increase of seven to 10% in six months? That's huge. On top of general appreciation, there's always conversation about interest rates. There's often the dooms day thoughts of "rates are going to go up" and "this is the year that rates change". I can tell you, though I've heard this story consistenly over the last number of years without much actual change, experts seem fairly confident that it's actually going to happen this year. Let's look at a chart provided by Fairway Mortgage Company; this is the predicted mortgage forecast from a number of experts. You'll see Fannie Mae and the National Association of Realtors have us at 3.1 or 3.5, whereas the Mortgage Brokers Association and Freddie Mac have us up at 3.7. So, no matter how you cut it, short of the Fannie Mae prediction, everybody else predicts an increase in rates. If that happens, there will be a major impact on what you're able to do within the housing market. Let's take a look at a sample scenario. Imagine you are a person who is pre-approved to purchase a house for $400,000 with 10% down. In other words, the maximum principle and interest payment that you're allowed to have is going to be about $1,567 a month. This assumption also includes you're at 3.25% interest rate. Let's take a look at these sample numbers and see what happens when we bump that rate up to 3.75% to help us understand what we may be seeing this summer. By this summer, that house is going to appreciate. So, that same house is now no longer valued at 400,000, it's $424,000 or $428,000 or $440,000, depending on where that appreciation rate goes. So, let's go at the low end, let's say 6% appreciation, which would be about the lowest we've seen over the past few years. Now, not only is the price of this house up to $424,000, but the interest rate has also gone up. It's up to 3.75%, which means your monthly payment is now about $1,767 per month. In other words, your payment has gone up about $200 a month for the same exact house, just because of appreciation and interest rates. The reality is you may not qualify for that monthly payment amount. If you're still approved at $1,567 we now have a different situation. Because of the rate increase, you can now afford less house. Which means, if you're trying to keep that monthly payment around $1,567 a month, and rates are up to 3.75%, you can now purchase a $375,000 house. Wait, there's more. Don't forget that by this summer that $375,000 house has also appreciated. So, what you're looking at in reality is roughly a $350,000 house today if waiting until summer to purchase. In other words, you've lost about $50,000 in purchase power by waiting until this summer to buy. What if this isn't the year that rates go up? Let's acknowledge that thought and take a look. It's probably unlikely that this will be the year that house prices don't increase as we've seen seven to 10% median sales price appreciation over the last few years, and we still have a significant shortage of available houses. As a result, we expect to see prices rise once again this year. Let's look at that same 3.25% interest rate, 10% down, $400,000 purchase price. The interest rate remains the same but the house has appreciated. So, the house you can actually afford by June is $360,370; you've cost yourself $30,000 to $40,000 in purchase price, just because of the appreciation. So, what does this all mean? Well, if you're waiting for life events to occur, then by all means, wait. If you're waiting for that baby to come, that wedding to happen, that new job to take hold, or some other life situation is causing you to wait, by all means, live your life, do that thing. But, if you know you're in the market and you know you're going to purchase, and maybe you're just waiting it out, or trying to decide if this summer would be a better option, now is the time. People buy and sell homes in all markets, so don't let this forecast scare you. If you're waiting for the crash, stop - it's not going to happen this year. By the time the market does balance out and become a favorable market for buyers, prices and interest rates will have gone up, and by then, you're going to end up spending more money for less house than if you do it today. If you want to talk numbers or look at your unique situation, let us know. We're happy to run some numbers and look at some possibilities and scenarios that could affect your decision making. We want to make sure that you make the right decision for you, whatever that may be. Let's talk soon.
Read MoreDisruptive Digital Marketing for Your Home Sale - Maximizing Home Exposure
Disruptive Digital Marketing for Your Home Sale When was the last time you went shopping online - Amazon, Google? Well, guess what? Real estate is really no different. Let's face it, when selling your home, putting a yard sign in the front lawn and sticking the property on the MLS is simply not good enough to get the job done well. The number one question you should be asking your agent is "How are you prepared to get my home in front of the highest number of people?". Even in a hot sellers' market, you deserve maximized exposure that will put your house in front of as many potential buyers as possible. After all, more buyers should equal more offers, and that's good for you as a home seller. According to the National Association of Realtors, 97% of home buyers use the internet to search for homes, and yet, only 77% of agents are using social media to market their properties. On top of that, most aren't using it effectively enough to actually have their posts seen by a large number of people. Our team has higher expectations than that. That's why we utilize a disruptive, strategic, digital marketing process to put your home in front of thousands of potential home buyers each week. In fact, you're probably seeing this video as a direct result of those efforts. If you would like to know more about how we utilize digital marketing techniques to get your home in front of the largest number of buyers, give us a call or leave us a comment. We'd love to talk.
Read MoreCommunity Spotlight: The Wine Reserve In Oregon, WI
Community Spotlight: Get to Know the Wine Reserve in Oregon, WI We sat down with with Steve and Joyce Dieter at The Wine Reserve in Oregon. We want to introduce them and hear a little bit about how the Wine Reserve came to be. Steve: We've been long time residents of Oregon, our kids have grown up here and we love the community and the downtown, but my partner and I felt like something was missing (a place to go and have a nice glass of wine after dinner). It was a long process, but we found a location and here we are today. Kelley: I think a lot of people might not know that you serve other things besides wine. Do you have specialty drinks that you offer? Steve: The main focus of the wine reserve is the self-serve wine system, which we can show you. But we also have a full bar where we offer specialty cocktails - we actually have a pretty extensive bourbon, scotch and tequila selection as well. Kelley: My favorite is the sangria, the red one. Joyce: We found out that bourbon is actually very popular around here. Steve: We're constantly adding to that selection. Kelley: What if somebody wants to host an event here? Do you have things going on regularly that people can come check out? Joyce: That is a great question, and I think it's a fabulous space for you to have a smaller gathering. In the summer, we have a great patio in the back that is a wonderful space for people to get together. We've had everything from baby showers, bridal showers, graduation parties and birthday parties. We offer a service which is a lot of fun for the guests of honor to do, which is we can saber bottles - we enjoy teaching people how to do it, and then watching them do it - it's usually very well received. This is one of the reasons why we decided to close on Mondays: so we would have at least one night open for private events. We've also had a lot of events over the weekend in the middle of the day, just before we open to the public. Steve: Mondays are when we also do our own special events like wine tastings or bourbon tastings that are ticketed ahead of time. Kelley: Okay, and you can find all of those events on your Facebook page? Steve: Facebook page and our website. Kelley: We had a wine night here with clients and it was really fun; we enjoyed the patio. Joyce: Wednesdays end up being popular because of "wine out" Wednesdays. We also really love to be connected with the community so we allow people to carry food in. We do offer cheese boards and some light snacks, but most of all we just want to create a nice warm place for people to gather and also, it's great if we can help our partners in the community. So people have brought food in from our local partners, but then they get their wine or their cocktails from us. Kelley: Perfect. Do you want to show us how the wine selection works? Joyce: Sure, that's our favorite part. Steve: We generally have eight whites and eight reds, and we change them out roughly seasonally so there's always a pretty good mix. When you come in to The Wine Reserve and you want wine, talk to one of our servers and you can open a tab and trade either your license or a credit card for our wine cards. These [cards] work in the machine, and they allow you to try any of the wines here and in various size pours. If you want to taste two or three just find out what you like, then you can pour a larger glass of one you want to sit down and enjoy. You want to try it out? Kelley: Sure. All right. So I just stick the card in [the machine]? Steve: Take your glass and hold it under the spout, and then hold your finger on the pour that you'd like, and hold it until it starts to pour. Kelley: It's fancy. Steve: We also offer a wine club - for a monthly fee, you're delivered two wines. We offer a different selection each month. You can choose from reds or whites, whatever you prefer, and then at the end of the year, we get the entire club together and have a private celebration here as well. Kelley: Oh, that's fun. Steve: We get quite a variety of people here. We'll have, as Joyce mentioned, "wine out" Wednesdays and those kind of things, but it's neat to see couples come in and one person likes wine but the other one wants to have a cocktail or beer - that's one of the things we wanted to make sure we were able to offer to everyone. Kelley: I'm still kind of a newbie to Oregon, so I'm looking around this building and it's beautiful. Does it have a lot of history? Steve: The building itself was built in the 19-teens. We're still learning about the history, but it was originally a bank that failed during the Great Depression so it hasn't been a bank for almost a hundred years - so it's had a lot of different lives and we're actually learning about that as we go too. There's lots of people here that have lived here a lot longer than us, and they tell us about when they were a kid, it was the post office, and it's been numerous other buildings and display rooms and office buildings. There was a lot of rehab work done right before we moved in, so it's not a place that people recognize when they come in for the first time and see it as The Wine Reserve. Kelley: Awesome. The ceiling is beautiful. Steve: It has a new tin ceiling and we exposed the brick. As far as we know, it's the first time the brick has been visible in over a hundred years. Kelley: Wow. Well, thank you so much for joining us here today. Really appreciate you. Joyce: Thanks for having us. This is great. Kelley: If you haven't been to The Wine Reserve, make sure you come check it out and you can check all their social media for their hours and all the new specials.
Read MoreCan't I Just Drop the Price? The Dangers of Overpricing Your Home Sale
Can't I Just Drop the Price? The Dangers of Overpricing Your Home Sale When you're selling your home, you want to make as much money as possible. In a hot market like we've been in, why not list it high and bring that price up; after all, you can always drop the price, right? We hear this a lot. And while it's a reasonable assumption, over pricing could be a very costly mistake. Sellers who try to see how much they can get for their home by pricing high may be setting themselves up for failure with the likelihood of a longer sale process and less money in the long run. Even in the crazy market of 2021, homes that required a price reduction sold, on average, 49 days more slowly than those that did not. In addition, homes requiring price reductions sold, on average, for 7.2% below the original asking price. Meanwhile, homes that didn't require a price reduction sold, on average, 3.3% over the asking price. That's a 10% swing in sale price between price reduced homes and homes priced correctly from the beginning. The next time you talk to an agent about marketing your home, make sure you have an open and honest dialogue about appropriate market pricing. Don't let an agent take your listing simply because they promise a higher sales price. Sellers who pick a realtor based on that detail alone may cost themselves thousands of dollars. Instead, discuss their marketing plan and make sure that your home will be seen by the highest number of potential buyers possible. If you have any questions about your unique situation, reach out to our team. We're always happy to talk.
Read MoreHow to Buy When You Have a Home to Sell
How to Buy When You Have a Home to Sell Have you outgrown your home? Maybe you need a home office or separate bedrooms for your kids. We outgrow our homes for many different reasons. One of the most consistent concerns we hear over and over is that people don't know how to make a move because they're concerned about managing, selling and buying in today's competitive market. Managing the logistics of a move is something we love to help our clients with each day. If you're looking to move, there are four approaches you can take to manage selling and buying in today's market. One: Shop for your next home and write an offer with a home sale contingency. Once your offer is accepted, you can list your current home. The benefit of this option is that you might be better able to manage your timelines. However, the downside and major challenge of this strategy is that it's very, very difficult to compete with a "subject to sale" contingency in today's market. And it's most likely that you will miss out on that next perfect home. Two: You can get your house up on the market and then start shopping. You may still have to write a home sale contingency, but at least your home will be active on the market, and you might be able to secure an offer before you write an offer on your next property. In today's competitive market, you may be able to negotiate a rent-back or extended closing so you can shop for your next place without feeling rushed. Three: Talk with your mortgage lender to see if you qualify for purchasing a home while you still own your current home. This is what we believe to be the best option if it's possible in your situation. This can feel scary to many people because they're worried about having more than one mortgage. However, in today's seller's market, there's a very good chance your home will sell quickly, and therefore, the risk is pretty limited. This route allows you to maximize your freedom and control the process, by not allowing the sale of your current home to impact your ability to buy. Four: Put your house on the market and accept that you might have to move twice and rent for a little while. With this option, you're going to probably have to move twice, but at least when you're ready to buy, you'll have more control of your situation; you won't have to worry about having a double mortgage payment or writing an offer with a subject to sale contingency. This allows you to take advantage of a strong seller's market and then be in a position to strike when the next right option hits the market. If you have any further questions about your unique situation, we're always happy to help figure out what the best option is for you.
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Best Dog Parks in Dane County We all love our furry family members, and sometimes we need to get outside and do more than just the same old neighborhood walk. What else can you do for some great exercise and fun play time with your pup? Dog parks! Dane County is blessed with a great parks system and tons of people that love to get outside. We wanted to share our votes for the top four dog parks in Dane County. One: Capital Springs is located on Lake Farm Road in Madison, just outside Fitchburg and Oregon. This off-leash park features 30 acres of play space, including a mile of limestone trails through restored prairie. Your dogs will love the large mowed area for chase and fetch and there's even a spot to catch some shade during those hot summer days. Smaller dogs can enjoy their own three acre park, fenced off from the larger area. Two: Yahara Heights is located within Yahara Heights County Park, adjacent to Cherokee Marsh in Waunakee, just off Madison's north side. This dog park offers the unique bonus of a canoe launch on the Yahara River so you and your furry pal can spend some time together on the water. On land, you'll find 20 acres of off-leash trails and green space, on-leash hiking trails as well as two dog piers so your pups can cool off on those warm summer days. Three: Anderson Farm Park in Oregon is Dane County's newest park and it's a hidden treasure. This park has been developed on restored prairie and offers a variety of walking paths through trails that cover over 35 acres. The park features a centralized open space for the gang to play and a separate area for the smaller dogs. Additional amenities include permanent restroom facilities and an electric car charging station; coming soon, an edible orchard! The park is easily accessible either by a quick walk on the paved trail from town or with ample parking. Four: Our favorite dog park is Prairie Moraine Park, just outside of Verona. Located near the Ice Age Trail, this off-leash park has almost 80 acres of winding trails and grassy areas to play and explore. The expansive trail system allows for new adventures every time you visit the park. The wide variety of trees provide shade during sunny days and put you right in the middle of nature, while being just minutes away from town. And there you have it, our favorite dog parks in Dane County. Next time you're looking for a change of scenery, check one of these out; we promise your dog will thank you!
Read More Three Steps to Prepare Your Home for Sale
Preparing to Sell Your Home: 3 Steps to Prepare Your Home for Sale Are you planning to make a move in the next few months, but don't know where to begin? We get it. The process can feel overwhelming. You might be a few months out from putting your home on the market, but if you're anything like us, you'd like to control the process and take care of things ahead of time, instead of slapping everything together at the last second. Here are three things you can do today to get your house ready to sell this spring. One: schedule a pre-inspection. A pre-inspection will alert you to issues that may come up during the home sale process, and will help you get ahead of the game so that you can control the process. For example, if your roof needs replacement, it's much better to find out ahead of time, instead of after you've got an accepted offer. By identifying repairs before going on the market, you can fix major issues, address the smaller ones, disclose whatever you'd like and ensure that you have a much smoother process from accepted offer through closing. Bonus - in the current market, homes that have been pre-inspected are more likely to have buyers skip out on their own inspections and instead rely on the pre-inspection report. Buyers are going to be more willing to make a higher priced offer when they know exactly what they're getting. Two: meet with the stager. All of our clients have access to an amazing stager. Stagers are professionally trained in interior design; they know where to put your furniture and decorations, what adjustments to make and how to arrange everything so your home really pops and is attractive to most home buyers. How we live in our homes is different than how we stage our homes to sell. What's comfortable for day-to-day living is not necessarily what's best once your home is actively on the market. We want to make sure that your home truly gives the wow factor to each prospective buyer. Three: start to declutter. Most likely, every item in your current home is probably not going to move with you - start decluttering today. Whether you're donating or selling items, start the process now so there's less to deal with later. Less clutter will also help make your home more attractive to potential buyers. Now that you have your to-do list, it's time to get started. Taking action with these three steps will help you be better prepared to pull the trigger when it's time to hit the market. In addition, going through this process will make your home more appealing to a wider range of buyers, bringing you stronger and more financially enticing offers. If you have any questions about your situation, give us a call. We're always happy to talk.
Read MoreWhat to Expect When Buying a Home
What to Expect When Buying a Home Are you thinking of buying a home and don't know where to start? Purchasing a home is most likely the largest investment you're ever going to make. You'll want an experienced professional with you every step of the way to ensure that your best interests are always protected. Our team is consistently among the top 5% of local agents and we've helped hundreds of buyers just like you. Here's what you can expect when starting your home buying journey. First, you'll want to make sure that you're qualified to purchase a home by connecting with a lender. Your lender will help you understand what types of loans you qualify for, what your payments will be and what steps you'll need to take to finalize your financing. Keep in mind that who you get your loan with matters just as much as how much you are pre-approved for or what your interest rate is. Working with a lender that has strong realtor relationships, a positive reputation and the ability to get things done quickly, could make the difference between you getting the house you've fallen in love with or losing out to a more competitive buyer. Once you're pre-approved, we'll start shopping to find you a home that fits your goals and dreams. Along the way, we'll serve as your guide to make sure that all of your questions are answered so that you can feel confident in your purchase. After you've found your ideal home, we will help you negotiate an offer using a full toolbox of competitive strategies to help your offer stand out amongst the crowd. After acceptance, our team will get to work organizing all of the next steps including: payment of earnest money, inspections, title services and assisting your lender. It's important to us that you not only find a home that you love, but also that it's a wise investment. We know that life brings change; when your life changes and it's time to make a move, we want to make sure that the home you purchased isn't problematic for you to sell. From inspection issues to appraisals and eventually the closing process, there are many moving pieces within each transaction. Give our team a call; we can address your unique situation and walk you through each step, ensuring that you make the right decisions from the start of the search until we hand you the keys to your new home. Our team diligently updates you on the status of your purchase and ensures that we don't miss any contractual deadlines. Our team provides a full-time client coordinator dedicated specifically to overseeing your transaction and keeping you informed throughout the process. And don't forget, the seller typically pays our fees. So, it doesn't cost you anything to utilize our services. Let's talk soon.
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