Downtown Madison Real Estate for Sale

Madison Named #7 by Kiplinger

2009-06-17T06:46:00.001-06:00

2009-03-15T09:09:00.001-06:00

NOTE: This is a shameless plug for Perfect Harmony Men’s Chorus Spring Cabaret….

Time is running out. You only have 2 chances yet today (3 p.m. and 7 p.m.) to see Perfect Harmony Men’s Chorus’ production of “Dark Mirror” at the West Side Club.

It’s an odd show but many of the performances more than make up for the concept. It’s worth the price of admission alone (it’s a fundraiser) to hear and see Terrence Gilles perform the great Sondheim number “I’m Still Here”. Never has it been done in such a way.

Another highlight of the show is Ed Anderson’s version of “Mr. Cellophane”. Truly brings down the house with his subtle interpretation of this classic number from “Chicago”.

The show builds to a fun ending with your’s truly performing “I Am What I Am” from La Cage Au Folles and a rousing rendition of “Keep it Gay” from The Producers performed by Keith Eccarius. All in all a fun 2 hours of entertainment.

Seats are still available for the last 2 shows today. 3 p.m. and 7 p.m. at the West Side Club.

Wisconsin Home Price Declines are Modest

2009-02-12T14:04:00.001-06:00

Fourth Quarter 2008
Wisconsin Home Sales Fall Significantly but Home Price Decline is Modest

http://www.wra.org/online_pubs/press_releases/2009/pr0212_hsgstats.html

Date: February 12, 2009

MADISON, WI – There was good and bad news for Wisconsin's housing market in 2008. While housing sales fell significantly last year as a result of the national financial turmoil and recession, home prices remained stronger than in many parts of the country, falling only modestly according to the year-end analysis of existing home sales conducted by the Wisconsin REALTORS® Association (WRA).

Wisconsin home sales declined in 2008 by 19.2 percent as compared to 2007, whereas median prices fell 3.7 percent to $158,000 over that same time period according to the REALTORS® report. Home sales in the Midwest were down by 14.9 percent, which is slightly higher than the national decline of 13.1 percent.

“Wisconsin’s housing market is not immune from recessions,” said WRA President William Malkasian. “Combining this strong recession with the financial meltdown last fall, it’s not surprising that home sales suffered in 2008. But our prices seem to have weathered the storm thus far, falling just 3.7% below 2007 levels, and outperforming the nation and the Midwest region,” he said. Wisconsin home prices were much less volatile than markets like Arizona, California and Nevada, a fact Malkasian attributes to less exposure to subprime mortgages and much less speculative buying and selling in the Wisconsin housing market. “Most people buy homes here to live in, not flip,” Malkasian said.

WRA Board Chairman Michael Mulleady suggested that home buyers are taking a wait and see attitude when it comes to home purchases. “With consumer confidence at all-time lows and recent job losses making headlines, buyers are understandably timid about getting into the housing market,” said Mulleady. “Those who otherwise would be inclined to trade-up are waiting for the market to improve, and even credit-worthy first-time buyers are choosing to remain spectators for the time being,” he said. “There is no doubt that this is a buyer’s market and this could be a great time to get into the market, given that mortgage rates are now in the 5 percent range and Congress is currently debating a stimulus package that may offer some very favorable tax breaks for home buyers,” Mulleady said.

Malkasian struck a cautious tone, suggesting that the housing market will start to improve once there are signs of growth in the economy. “New tax breaks and low mortgage rates will get some buyers off the fence, but sustained growth in housing demand will only take place after buyers are confident that the economy is once again growing,” said Malkasian.

For More Information Contact: David E. Clark, Economist, C3 Statistical Solutions Inc. Office phone: 414-803-6537

About the WRA
The Wisconsin REALTORS® Association is one of the largest trade associations in the state, representing over 14,000 real estate brokers, sales people and affiliates statewide. Sales estimates for the state are provided by the National Association of REALTORS®, which seasonally adjusts quarterly sales figures. All county figures on sales volume and median prices are compiled by the Wisconsin REALTORS® Association and are not seasonally adjusted. Median prices are only computed if the county recorded at least 10 home sales in the quarter.

2009-01-14T08:12:00.001-06:00

is excited to start coaching his Frame of Mind 52 groups today! This will be a great journey!

Capitol West, Downtown Madison's Newest Offering

2008-07-18T08:35:00.003-06:00

One of the most ambitious residential construction projects in the cities history has just finished it's first phase of construction and the first residents have moved in. Capitol West is an agressive redevelopment project by developer Randy Alexander and it proves to be a winner.

According to today's Wisconsin State Journal, almost 50% of the first multistory condo tower is sold. Very good numbers for this housing economy.

You can read the WSJ article here.

The Best time to Lock in Your Mortgage Rate

2008-06-30T10:21:00.000-06:00

“What do you think about rates … should I lock in now or wait to see if they fall further?” Think I’ve been asked that a time or two over the past 18 years? You better believe it. It’s a good question—one that goes through every single buyer’s head at some stage.

A quoted interest rate is no good unless you’ve confirmed, in writing, that your loan is indeed “locked,” or guaranteed for a designated period of time. You need to be proactive with your locked rate as well and don’t assume that your loan officer already locked you in. In fact, your loan officer shouldn’t lock in your rate without your specific instructions. If it was locked in and rates went down you’d be pretty mad, wouldn’t you?

While neither real estate agents nor loan officers are in the business of predicting the future, it’s still possible to make a prudent choice in the face of uncertainty. Would you rather lock in your rate and watch rates fall or not lock in your rate and see rates go up?

If you decided to lock and rates go down, you’ve secured the market rate that you were happy with. But if rates went up and you didn’t lock, you’d be paying for that mistake for the rest of the loan.

There is an even worse possible scenario: After not locking in your rate, rates shoot up and you no longer qualify for the loan. So it’s important to ask yourself: “Which way would I rather be wrong?”

If you are comfortable with the rate you’ve been quoted, talk to your real estate agent about the possible consequences of waiting to lock it in.

Written by David Reed, author of Mortgage 101 and Mortgage Confidential.

Keller Williams Listings Now On Zillow

2008-05-08T11:01:00.000-06:00

Thanks to a newly formed business relationship between eAgentC, the technology arm of Keller Williams Realty, and Zillow, all Keller Williams Realty listings are now searchable on the popular search engine, increasing our agents’ and home sellers’ exposure to potential buyers.
Each listing Keller Williams Realty feeds to Zillow includes a description of the property with multiple photos and contact information for the listing agent. Also included are links back to the Keller Williams Website where Zillow users can find more information and connect with a Keller Williams associate to guide them through the home buying and selling process.

“We know that over 80% of all homebuyer’s use the internet for their real estate searches” states Keller Williams Realty Madison West Team Leader, Jessica Fox. “This increased exposure only means our home seller’s are increasing their chances of getting their home sold in a challenging market.”

Keller Williams Madison’s offices increased online exposure seems to be working. The company is posting a 13% increase in sales through April 2008 vs. the same period of time in 2007. According to South Central Wisconsin Multiple Listing Service (SCWMLS) the overall real estate market is down nearly 30% in sold units.

“The constant training of our agents as well as keeping on the cutting edge of all the technology tools is truly driving our success in early 2008” states Madison Crossroads Team Leader, Brett Boettge.

Keller Williams Realty Madison has 2 locations with over 200 real estate agents. The company started operations in the greater Madison area in January 2003.

155 E. Wilson-Union Transfer Living!

2008-04-04T08:23:00.003-06:00

Unit L3

List Price: $499,800

Watch the sunrise over Lake Monona in the large condominium in Union Transfer. With 2100+ sqft contemporary finishes mixed w/ some exposed loft features, there is plenty of room for entertaining in the unit or out on the huge deck. Kitchen has stainless appliances & lots of counter space. Both baths & entry hall have extensive use of granite & glass tile. There is a lrg storage space inside the unit & seperate office/den/craft room. Complex also has large excercise facilty.

To see more photos of this great downtown offer visit our website.

333 W. Mifflin- Great Downtown Getaway

2008-04-04T08:10:00.003-06:00

In Metropolitan Place

Unit 209

2 Bedroom

High End Finishes

Come see this downtown condo that was finished out with granite countertops, stainless steel appliances, flat maple cabinetry, maple flooring throughout the entire unit, ceramic tile in the bathroom, wide baseboard trim and even a fireplace shared between the living rooma and the bedroom. An additional bonus area will be great for an office or to utilize as a 2nd bedroom. The complex has a large excercise facility and even a 1 acre outdoor park above the parking garage. Just 2 blocks from Capitol Sq.

List Price: $204,900

Visit Our Website for More Photos and a Virtual Tour.

Real Estate Market Comment

2008-03-17T10:14:00.001-06:00

The Federal Reserve captured headlines again today, as it tried to stave off another potential credit-market seizure. In an unprecedented Sunday meeting of the Federal Reserve they took the following action: they pledged to lend, in return for no saleable mortgage-backed securities, $200 billion of Treasury notes to banks and investment firms that trade directly with the central bank. The scuttlebutt suggests the Fed acted to save investment banking behemoth Bear Stearns, which had been unable to secure credit against its massive portfolio of mortgage backed securities.

These securities matter to Main Street as much as to Wall Street; they provide the source funding for the mortgage market, which is why Fed Chairman Ben Bernanke and his colleagues are trying mightily to halt a cycle in which the losses on mortgage investments cause banks to cut their lending, possibly sending the economy into a recession.

Unfortunately, the turbulent housing market isn't cooperating. Home foreclosure filings in February edged down from January, but were a whopping 60% higher than a year earlier, according to real estate data firm RealtyTrac. Unfortunately, the mortgage-backed securities market can't improve until the housing market improves.

And as for the recession, some believe the fight is over – and the Fed lost. Separate surveys by Bloomberg and the Wall Street Journal show the majority opinion believes we are in a recession. The opinion isn't without merit: The Commerce Department reported that retail sales fell 0.6% in February. The decline reflects a sharp slowdown in consumer spending, which accounts for more than 70% of U.S. economic activity, as Americans grapple with high fuel and food costs and declines in home values and other asset prices.

The good news is that inflation appears to have abated, which seems improbable given soaring oil prices. Nonetheless, it has. The consumer price index showed no increase in consumer prices for February. The benign CPI reading gives the Fed wiggle room to again cut interest rates – a likely event after Tuesday's Federal Open Market Committee meeting (where the Fed sets the federal funds rate).

Finally, I’m curious where the Presidential candidates stand on all of this. It seems there’s too much rhetoric on the war in Iraq and truly not enough about the U.S. economy, the housing struggle and the price of gasoline.

I guess time will tell when these items become part of the national debate. Guess I’ll just have to walk more.

360 W. Washington Ave. Metropolitan Place Phase I

2008-03-14T09:46:00.002-06:00

We just listed this great resale unit in Metropolitan Place Phase I. This unit is impeccably maintained and tastefully updated. Nice warm colors on the walls, contemporary lighting, solid surface kitchen countertops, maple cabinetry, 10' ceilings and a gas burning fireplace. The bedrooms are generously sized and the master has walkin closet with closet system. Large bathrooms with tiled floors, large storage unit on main level and same level parking. Treetops provide a very private atmosphere for this 3rd floor unit. Large community excercise facility in the building.

To get more information and a virtual tour, click here.

100 Wisconsin Ave. Living in the center of it all

2008-03-14T09:35:00.006-06:00

Now being offered:

100 Wisconsin Ave. #904

On the capitol square in the center of Madison. This building offers only 42 living units with commercial space on the lower 4 floors.

Unit 904 is over 2000 sq. ft. of high end finishes including 2 bedrooms plus den, 1 3/4 baths and a gourmet kitchen with subzero and wolf appliances.

To get a virtual tour and more information on this great offering, click here.

Governor to Attack Affordability in Tax Increase

2007-02-15T11:33:00.000-06:00

REALTORS Oppose Doyle’s Tax on The American Dream

Statement from the Wisconsin REALTORS® Association

February 14, 2007

Madison –Governor Doyle’s budget proposal to increase the real estate transfer tax is a tax increase on the American Dream of homeownership according to the Wisconsin REALTORS Association (WRA). “This is a tax increase of $140 million on homeownership that will hurt housing affordability in Wisconsin,” said Roger Rushman, Chairman of the WRA. “Raising the price of housing will turn some ‘could be’ homeowners into ‘won’t be’ homeowners overnight,” Rushman said. He said the REALTORS would vigorously oppose the Governor’s plan.

The Realtors also questioned why Governor Doyle proposed the tax increase after promising not to raise taxes. “The Governor said he’s against raising taxes,” said Rushman, who is the Executive Vice President of First Weber Group Realtors of Milwaukee. “This is a tax increase pure and simple. I think homeowners across Wisconsin will not be happy.”

According to WRA President Bill Malkasian, the current transfer tax is $498 on a median priced $166,000 home in Wisconsin. Under the Governor’s plan, this tax will double to $996. “The seller is responsible for paying this cost in full, at closing, at a time when both buyers and sellers must incur numerous closing costs,” said Malkasian. “If the sellers can’t afford that loss of equity, the price of the house will increase and that will prevent many families from being able to afford their American Dream.”

In addition to its adverse impact on housing affordability, the REALTORS also argue the tax is regressive and discriminatory since lower income households pay a larger percentage of their incomes on housing. “This hurts everyone buying or selling a home or any property for that matter,” said Malkasian. “From the elderly seller or farmer who is counting on the equity from the sale of their home to pay for retirement or alternative living arrangements, to the young couple selling their starter home and looking for a bigger house for a growing family. This hurts them all.”

Malkasian concluded, “This is a bad idea for Wisconsin families, Wisconsin’s real estate market, and Wisconsin’s economy.”

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The Wisconsin REALTORS® Association is one of the largest trade associations in the state,
representing over 19,000 real estate brokers, sales people and affiliates statewide.