Oregon WI Real Estate Market Update | March 2019

Sales dipped drastically in February while inventory, or the number of available homes, continues to stay low.

With a 38% decrease in new listings from the same time a year ago our mid-winter market has a number of opportunities for home sellers while buyers should remain patient while getting prepared to move quickly.

0:35: Only 3?!?!
0:48: Lowest month in over 8 years
0:53: Inventory up or down?
1:14: What’s going on?
1:51: Where are we going?
2:00: How many homes are available?
2:40: Winning as a home buyer
2:49: The new construction option

 

Search Oregon homes for sale at: https://theminterteam.com/homesearch/

Sales dipped drastically in February while inventory, or the number of available homes, continues to stay low.

With a 38% decrease in new listings from the same time a year ago our mid-winter market has a number of opportunities for home sellers while buyers should remain patient while getting prepared to move quickly.

0:35: Only 3?!?!
:48: Lowest month in over 8 years
:53: Inventory up or down?
1:14: What’s going on?
1:51: Where are we going?
2:00: How many homes are available?
2:40: Winning as a home buyer
2:49: The new construction option

Search Oregon homes for sale at: https://theminterteam.com/homesearch/

Sales dipped drastically in February while inventory, or the number of available homes, continues to stay low.

With a 38% decrease in new listings from the same time a year ago our mid-winter market has a number of opportunities for home sellers while buyers should remain patient while getting prepared to move quickly.

0:35: Only 3?!?!
:48: Lowest month in over 8 years
:53: Inventory up or down?
1:14: What’s going on?
1:51: Where are we going?
2:00: How many homes are available?
2:40: Winning as a home buyer
2:49: The new construction option

Search Oregon homes for sale at: https://theminterteam.com/homesearch/

Oregon WI Real Estate Market Update: February 2019

January was quite the stretch for much of our area with a combination of record low temperatures, heavy snow falls, and no Packer games to keep our minds off it all. 
 
It’s often said that the Super Bowl is the start of the spring market around Dane County and now that we are a week in February we are definitely starting to see things heat up.

Since we love our town we keep the focus on Oregon and the unique aspects of our local market. Here’s the current state of the market in Oregon as we enter the early phases of the 2019 spring market.

1. Sales remain strong. 2018 was the third best year on record for Dane County and January sales in Oregon were the highest since 2015. This shows us that demand for homes is strong in our area and we expect it to remain that way throughout the year. 

2. Oregon had 30 active single family homes at the end of January 2019. This is down over 25% from the same time last year, but up 25% from the end of December. There is little competition for homeowners looking to sell today but this will change quickly as we head deeper into our spring market.

3. Only 2 existing properties are available in the $400,000-$500,000 range. These homes only make up 6% of active inventory while representing 12% of last years home sales. Homeowners looking to sell in this price point should be in a great spot provided their home is still priced appropriately.

For Sellers: Chances are it’s a great time for you to hit the market. However, you still need to do things the right way. Sellers who skip the important steps may get an offer, but they won’t see the real payoff they are probably looking for in today’s market. Smart pricing, effective preparation, and strong marketing are still key to a great sales process.

 
For Buyers: Patience is key, but you must be ready to pounce. Get your pre-approval squared away, connect with a great agent, and you’ll be ready to go when the right home hits the market soon.

Oregon WI Real Estate Market Update: January 2019

How’s the market? Well, that always depends. Are you buying? Selling? Both? Neither? What’s your price point? Where are you looking? These all play into the answer that’s most meaningful for this question.

Since we love our town we keep the focus on Oregon and the unique aspects of our local market. Here’s the current state of the market in Oregon as we begin the 2019 market year.

1. Rates have dropped back to less than 4.5%. We haven’t seen this in the last few months as they recently jumped to over 5%. This is a welcome change for home shoppers and should continue to spur a large buyer pool.

2. Oregon had 24 active single family homes at the end of December 2018. This is down over 40% from both November of this year and the same time last year. There is little competition for homeowners looking to sell today but this will change quickly as we head closer to our spring market.

3. Only 2 properties are available in the $400,000-$500,000 range and both are new construction. Homeowners looking to sell in this price point should be in a great spot provided their home is still priced appropriately.

Remember each situation is unique. This means even though there’s little competition it doesn’t necessarily mean your home will sell quickly. Likewise, just because there are few options to choose from doesn’t mean you won’t see your dream home pop on the market in the next few days so make sure you’re ready.

4 Steps to Take This Fall for a Successful Spring Home Sale

qtq80-cb7rRuThere is no doubt that fall is here. Leaves have fallen, temperatures have dropped, and the holidays are right around the corner.

For people considering selling their home this is a clear indicator that it’s time to hit the breaks and wait until there is an opportunity for a spring home sale. While waiting until the spring may be a wise decision it’s not always the best move.

You can read more on the right time to sell HERE, but if you’re dead set on waiting until the snow thaws to hit the market now is a great time to get ready with these four steps.  (more…)

Is “For Sale By Owner” Your Best Option?

For Sale By OwnerWhat if I told you I could find you an agent who would work for 0% commission? Would you hire them?

What’s the catch?

This agent has zero marketing experience, no connections to people in the real estate industry, isn’t familiar with the forms and legal contracts involved with a home sale, and has another full time job outside of real estate. Would you still want to hire this person? (more…)

Should You Offer a Home Warranty?

uhplogoThe warranty. Insurance for your stuff. As a seller why should you buy one for the potential buyer of your home?

The Universal Home Protection basic home warranty covers home sellers and then automatically transfers to buyers for one year from the date of closing. Priced at $450 sellers only pay at closing.

So, is it worth it? We think so. Here’s why… (more…)

Now is the Time For Home Sellers

3rdQNews

Rates are down, prices are rising, and inventory remains incredibly low. Combined these trends create a great opportunity for those looking to sell their homes.

We enter 2015 with barely 3 months of inventory. This places us in a very strong sellers market and trends indicate that inventory is unlikely to catch up to demand anytime soon. With basic economics in mind we are in a housing shortage in most areas of the market and sellers can capitalize if they approach the market in the right way.

Dane County finished 2014 with the highest median home price on record at $220,000. This was roughly a 3.8% increase over the last 12 months. Prices will continue to be affected by low levels of inventory and historic low interest rates. As those fluctuate we’ll see prices adjust as well.  (more…)

Staging Myths Shattered

171Natural01When it comes to staging a home there are a number of objections or concerns a seller may have. While these concerns are often legitimate, the benefits of hiring a stager still outweigh the risk of going at it alone. Let’s take a look at the most common myths about home staging.

1.My Home Doesn’t Need Staging

There are a million variations of this objection including “my home is already beautiful”, “we hired a designer last year”, and “I can just declutter and clean and we’ll be alright”. The truth of the matter is, (more…)

3 Reasons You Need to Hire a Stager

stagingAfter listing a home one of the first items on our to-do list includes scheduling a consultation with a professional stager to enhance the seller’s home in the eyes of prospective buyers. This service is part of our basic marketing plan and is included at no additional cost to our clients.

Why do we invest in this service for our clients? Here are a few reasons we believe our staging service is a huge benefit for sellers. (more…)

4 Pricing Mistakes that Will Keep Your Home on the Market

pricingmistakessignPricing. The bottom line for a number of sellers and often the biggest hurdle in getting a house sold.

Homes that are priced incorrectly consistently sell for less money after longer on the market than homes that are priced right from the start. For more information about that data take a look at our previous article, “Can’t I Just Reduce the Price?”.

While it’s possible to aim high and adjust into a price reduction, the data simply doesn’t support that as a smart decision. Instead, follow these guidelines when pricing your home: (more…)

4th Quarter Advice for Buyers & Sellers

2014-10-05 11.42.55As we near the end of the year the picture of the market tends to get a little murkier for home buyers and potential sellers. Buyers and sellers alike have numerous questions about timing, competition, and negotiation around this season. Courtesy of the latest edition of the Stark Real Estate Market Source Newsletter, here is our advice to buyers and sellers at the end of 2014.

Advice for Buyers

If you aren’t much for competition, and are ready to make a move now, then this winter is probably a good time to do so. With uncertainty over interest rates, and continued low inventory, we expect to see a fairly competitive spring for home buyers including multiple offers, sales at or above asking price, and (more…)

3 Market Trends That Will Affect Your Home Sale or Purchase in 2015

3rdQNewsAfter a banner year in 2013 the 2014 real estate campaign limped out to a slow start. Media jumped on the chance to remind consumers that housing sales were down in year over year sales and activity was noticeably different than the previous year for those of us involved in the business.

However, while there is a definite purpose to comparing year over year sales, the numbers themselves hold little meaning unless they are placed into context. In comparing 2013 to 2014 regarding the housing market it is true that most months showed a decrease in sales from year to year. Yet when we look at 2014 compared to the last 10 years we can see that single family home sales are on pace to be greater than any year since 2006, median price has matched it’s historical peak at $218,000, and interest rates (more…)

Can’t I Just Reduce the Price?

burning moneyIt comes up nearly every time we sit with a client and discuss the marketing of their property. Somewhere during the pricing discussion the seller will almost always ask, “Can’t we just drop the price?”

While seller’s can always choose to drop the price of their home, it’s rarely a desirable strategy to put in place from the beginning.

Sellers who try to see what they can get for their home by adopting a high price strategy with price adjustments in the future are setting themselves up for a longer sale and less money in the long run. Likewise, sellers who pick a listing agent based solely upon the suggested list price may find themselves in for a long haul that costs them thousands of dollars. (more…)

5 Market Trends That Will Affect Your Home Purchase or Sale in 2014

3rdQNews2013 was a whirlwind year in the recovery of the housing market. Inventory dropped while sales and prices rose, buyers were in competition with many homes seeing multiple offers, and new construction boomed.

What does last year tell us about the future? Keep an eye on the following trends as we head into 2014.

Inventory

With Dane County currently sitting at 4.3 months of inventory it’s evident that the inventory drop off we saw at the end of 2013 never fully caught up to pace of sales.   (more…)

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