Approximately 23% of the home and condo sales in Dane County are related to foreclosure, according to the Distressed Property Index we developed a few months ago. The December index decreased from November's index value of 24%.
For more details, please visit our monthly update at DaneCountyMarket.com .
Have a good day,
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
According to the latest mortgage rate publication by UW Credit Union, interest rates for 30 year fixed rate loans are back below 5%.
If you haven't visited the UW Credit Union mortgage web center before, you'll find it to be a very useful resource. The UWCU mortgage web center allows you to monitor interest rates, apply for a loan, and monitor the status of your loan all from a single online location. In the very near future you'll also be able to search for properties. That's pretty cool.
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
What happens after a tax credit deadline passes?
Sales decrease.
Our preliminary review of data from the South Central Wisconsin MLS shows a total of 253 Dane County homes and condos sold in December, compared to 289 sales from a year ago - a decrease of 12%. A total of 5,455 homes and condos sold during the 2009 sales year, compared to 5,336 in 2008 - an increase of 2%.
You may remember home and condo sales more than doubled in November, as first-time home buyers rushed to cash in on the previous tax credit prior to the November 30th deadline. We do expect home and condo sales to rise similarly once again as we near the deadline for the extended and enhanced tax credit.
You can view our full report on the December Dane County home and condo market here.
Have a great weekend,
Dan Miller, Realtor, Keller Williams Realty and DaneCountyMarket.com
UW Credit Union has contributed another useful article to our web site. In this article UWCU provides some common sense and creative advice on how you can save for your down payment. You'll find it on the buying real estate page at DaneCountyMarket.com.
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
The Madison chapter of NARI (National Association of the Remodeling Industry) is holding its annual expo January 15th through the 17th at the Marriot Madison West. This is a great event for anyone planning a home renovation, or anyone who just wants to learn more about the latest and greatest in home remodeling.
You'll find more information about the event here.
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
Kathy Quade from House To Home Interiors has just released her new E-book "Showing Well Selling Well" on Lulu.com. In her book Kathy provides some great advice on how you can prepare your home for today's market in some very simple, practical and AFFORDABLE ways. 
Kathy stages all of our listings, and does a tremendous job for our clients. She also has a number of useful articles on DaneCountyMarket.com, including Showing Well and Selling Well, Let Your Home Shine, and Enhance Your Curb Appeal.
Kathy's E-book is available for $19.99 and can be ordered here.
Have a good day,
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
Eric Rosengren, chief of the Federal Reserve Bank of Boston, predicts rates will rise between .5% and.75% over the coming months. You can read more in this article from The Hartford Courant.
Rock-bottom interest rates and tax credit incentives won't last forever. If you need to sell, you have a window of opportunity right now. We recommend you consider listing your home in January rather than waiting until spring.
Food for thought.
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
Dane County foreclosures increased for the 33rd straight month in December. A total of 117 foreclosures were logged in December, an increase of 14% from the 103 foreclosures recorded in December of 2008.
Foreclosures ended the year up 29%. From the graph below you see foreclosures increased for the fifth straight year in 2009. 
For our full foreclosure report, you can check out the economic trends page at DaneCountyMarket.com .
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
Our community and relocation page at DaneCountyMarket.com includes a ton of information on 13 local communities. We've enhanced each individual community page so you can automatically find all of the properties for sale in that area.
For example on our Verona page, you'll see a link to view all Verona condos for sale, followed by a link to view all Verona homes for sale.
Clicking the CONDOs link will display all listed condos in Verona, sorted by price. Clicking the HOMES link will display all listed homes in Verona, also sorted by price.
This improvement was recommended to us by one of our regular web site users. If you have any ideas for making our site more useful to you, we're happy to hear from you. Please feel free to contact us here.
Have a great weekend,
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
Dane County housing starts fell off a cliff at the end of 2008, as the building industry felt the full impact of the economic downturn. The twenty housing starts recorded in December of 2008 was the lowest monthly total of the decade.
This past December housing starts showed a nice rebound off that low. A total of 65 housing starts were recorded in December of 2009, marking the second straight monthly increase for Dane County.
Thanks to Dominic Collar from MTD Marketing Services of Wisconsin for sharing his data. For more information, you can contact Dominic directly at 920/993-8435. You can also check out our full housing start report on the real estate trends page at DaneCountyMarket.com .
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
Our analysis of data from the South Central Wisconsin MLS shows 58% of the Madison homes that sold in 2009 ended up selling for under the 2009 assessed value. This marks the first year during the new millennium that more than 50% of all Madison homes sold for an amount less than the assessment. (Note: this analysis excludes condos, as well as new construction houses that did not reach their full assessment prior to sale).
Here's how the data has trended over the last 10 years.
The trend toward more homes selling for under the assessment is no big surprise. But these stats from 2009 may surprise you:
In other words the majority of all home sales occurred at a price point that was either well above or well below the assessed value.
The data drives a home a point that we have been making for the last several years: It is the market that determines a home's true value, not the city assessor.
For more information, please see our articles Market Value vs Assessed Value and Pricing Your Home. You'll find both on the selling real estate page at DaneCountyMarket.com.
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
This year's Madison Home Expo is January 8th through the 10th at the Monona Terrace Convention Center. The Expo offers home owners the opportunity to meet with local remodelers, builders and design professionals. Tickets for adults are $5. Children under 18 are free. You can find all of the details here.
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
We see all kinds of things during home inspections. This photo from a client's recent inspection has quickly become an all-time favorite.
Getting your new home inspected by a quality home inspector is one of the smartest things you can do as a home buyer. The inspection protects you, in the event that your inspector finds a defect that could significantly impact the value or the safety of your new home. The inspection also provides a great educational opportunity to learn about home maintenance and home safety from a licensed pro who has seen thousands of homes up close.
Brian Paull from Premier Inspection and Consulting has a great web site that among other things outlines the home inspection process.
We've also listed a number of useful links on our inspection and testing resource page, under buying real estate at DaneCountyMarket.com.
Have a great day,
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
One of the reasons The Loraine Condominiums are over 90% sold is the character of The Loraine Building.
Another reason is location. Located at 123 W. Washington Avenue, The Loraine is in the heart of Downtown Madison, just a block off the Capitol Square. Concerts on the Square, The Dane County Farmer's Market, The Taste of Madison, The Art Fair on the Square, Monona Terrace and The Overture Center are literally just a few steps outside The Loraine's Grand Lobby.
For those who enjoy food and drink, there are plenty of nearby options, starting with Barriques Market, which is located on the first floor of The Loraine Building. The Blue Marlin, Harvest, L'Etoile, The Tornado Club, The Great Dane, the Marigold Kitchen and many other fine establishments are all just a short walk away.
Several health and fitness clubs are within easy walking distance, too. Pinnacle Health and Fitness, Capital Fitness, and the Meriter Retirement Community for seniors are all within a few blocks of The Loraine.
The downtown, pedestrian lifestyle is easily accessible from The Loraine. Read these testimonials from current residents and you'll see location is one of the most appreciated aspects of Loraine living.
Dan Miller, Realtor, Keller Williams Realty and DaneCountyMarket.com
Includes contributions from Brandon Grosse, Realtor/Broker, Accord Realty and TheLoraine.com
Seventeen Dane County multifamily listings totaling 49 units and over $4M in sales were recorded in November via the South Central Wisconsin MLS. That's a good month for the multifamily market.
A closer look at the numbers shows the November 30th deadline for the previous version of the home buyer tax credit had a big impact on the market. Thirteen of the 17 listings that sold during the month were for duplexes, as buyers choosing to owner occupy closed in time for the deadline.
We've stated repeatedly over the past several months that it's a great time for investors to learn more about the multifamily market. With over 3 years of inventory and a strong trend toward lower prices, the market has clearly shifted in favor of the buyer investor.
For more details on the Dane County multifamily market, you can check out our monthly report on MadisonIncomeProperties.com.
Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com
