Anna's Blog

Anna’s report from the trenches…

Well, it has been a very interesting week in Madison real estate and I am having lots of good conversations with everyone I meet about what is really going on here. I am busy with listing appointments, buyer showings and even with Offer writing, but I am finding that the sensational news on TV, on the radio and in the newspaper is skewing the reality of the Madison market. I have done some research this morning and would like to share some numbers with you. I hope this helps to put our market in perspective with what you are hearing in the news:

Wisconsin is ranked 23^rd in the country for house price appreciation by state with a -3.47% drop in the past year, -2.69% in the past quarter,+10.86% increase in the past 5 years and +120.93% since 1991. Madison, WI is ranked 116^th for metropolitan areas with house prices dropping -0.81% in the past year, but up +1.21% for the last quarter and +21.67% over the past 5 years. This is really decent news – to know that Madison is quite a stable market. Compare this to Merced, CA which is ranked as one of the worst markets in the nation: -49.50% decrease in prices over the past year, -16.29% in the past quarter and -33.34 over the last 5 years.

Please call me if you are interested in hearing more statistics – they show the true picture of today’s market.

(Statistics are from the Office of Federal Housing Enterprise Oversight)

With interest rates at an historic low, many of my clients are asking about refinancing their homes and when to know if it is worth it.  The rule of thumb is that if you can recoup your closing costs within a year by the monthly savings from the lower rate, then it is worth it to refinance.  Typically this means the rate should be 0.75 to 1.0% lower than the rate you have currently.  Please note that the lenders, appraisers and title companies are incredibly busy right now with the refinance boom, so do be patient!  Let me know if you have any questions or if you need a great lender referral!

Everyone I know is trying to figure out how to spend less money… and really, that is a good thing and something to strive for even when the economy is strong. I know I could do a better job of managing my spending, so I have been quizzing my friends and family to see if they have any creative ideas for spending less. And here they are – I hope you find them helpful:

1. If you have not renewed a cell phone or landline phone contract in the past 6 months, call your provider. Chances are they are running a promotion and you could save quite a bit on your monthly bills. I did this and saved $50 per month!

2. Use coupons when shopping for groceries and go on the day of the week that the store gives you double the coupon value. Yes, most of the grocery stores do this – I didn’t know that – but my super savvy mom friends filled me in!

3. Go through your attic, basement and garage and make a pile of all the things you bought and have never used (sports equipment, garden items, clothes, books) and sell them online!

4. Get your books, DVDs and CDs from the library!

5. Make your holiday gifts this year! I plan on doing a lot of baking – Swedish cookies!

6. Spend more time with friends and family rather than go shopping!

Happy Saving!

Well, the election is finally over! And since last Tuesday, I have to say I have noticed an uptick in activity – buyers are looking at houses and some are even writing Offers! There are some wonderful properties to be had at fantastic prices in the Madison area. My broker recently gave us some statistics comparing investing in Dane County real estate vs. investing in the stock market that I found very interesting –here they are:

Return on Investment from 1/2000 to 9/2008: Dane County Real Estate Compared to Stock Market

DOW: 0%

S&P: - 12.7%

NASDAQ: - 45%

Dane County Real Estate: +43%

Historically, real estate is a solid investment. If you have any questions about your home or neighborhood, just let me know – I would be happy to provide you with the latest information!

As the temperature drops, all kinds of animals will be trying to get in to the warmth of your house for the winter! Mice, ladybugs, ants, spiders, squirrels and wasps are very resourceful – they can squeeze through the tiniest of openings. Here are a few tips:

· Block their way in: caulk around all openings and weather-strip around doors & windows

· Remove debris from around the perimeter of the house: clean up leaves from basement window wells, remove excess mulch & shrubbery and do not leave pet food or bird seed outside

· Keep trees trimmed away from the house to prevent squirrels from landing on your roof where they can gnaw on electrical wires or soft wood

· Install screens on attic vents and make sure your chimney flues are capped to prevent wasps and other vermin from getting in to your attic

· Consider hiring a professional pest control company to spray if there is a large infestation

Good luck and happy fall!!

Have you heard of the online bank ING Direct? I recently received an advertisement for this company in the mail, and their claim of 3% interest on savings accounts got my attention. Considering the typical interest rate on traditional check and savings accounts these days, this sounded "too good to be true". I checked with many people that I know and respect and found that many of them have accounts with ING and are very pleased.

Certainly stick with whatever works for your saving plans and habits, but since I hadn't heard of this option, I figure someone else may not have either - check it out!

The Wisconsin Realtors Association (WRA) has published a nice piece explaining the Federal Home Buying Credit that is currently available. Find the information by clicking here, or refer to the Links section of my web site.

Any questions, be sure to let me know!

Since you are reading my blog (thank you, thank you!), I know you are internet savvy. I love the internet for a variety of reasons and uses, and something that is picking up steam in popularity is Social Networking. Are you on Facebook yet? If so, be sure to add me as a friend!

On another note, Labor Day weekend is upon us - where did summer go? I hope everyone has some relaxation in their weekend plans! If relaxation finds you milling around the internet or taking a ride around town and you find an interesting property for sale that you hadn't seen previously, please be in touch and I'll send you some additional info.

Happy weekend to all!

Since this week is the Democratic National Convention and next week is the Republican National Convention, it got me thinking about voting. A quick check of the internet revealed information about how simple it is to register to vote. If you need this information, click here.