Anna's Blog

Greetings from sunny Madison, Wisconsin! Believe it or not, spring is finally in the air in Madison. The enormous snow pile in front of my house is almost gone and I have visions of the crocus starting to bloom. And spring in Madison means many of you are thinking about putting your home on the market. Traditionally this is the busiest time of year for Madison real estate and so far it is feeling like a good and productive spring.

Many of the sellers I work with want to know how to set their home apart from the competition – especially as there is quite a lot to compete with right now. And my answer is threefold: preparation, marketing, and followup. Today I’d like to address preparing your house for sale – basically getting your home “parade-ready” so that when you hit the market, the response is a “WOW!”

The process is really similar to getting your car detailed and checked over before you sell it. You are selling a product, even though it feels odd to describe your home in that way. I advise my seller-clients to get their home pre-inspected. Most buyers today are getting a home inspection – and this tends to be the most stressful part of any transaction. With a pre-inspection, you know what to expect and you can address any defects in several different ways – you can fix the defect prior to your home hitting the market or you can disclose it to potential buyers and offer a credit at closing or a lower listing price. Either way, there are no surprises.

Staging has become popular over the past few years and it is a service that I offer to my listings. A professional stager comes in to your home and gives advice on paint colors, furniture placement, de-cluttering, decorating and depersonalizing your space. They can often use what you already have or they can bring in some of their own decorative items. The goals are to design an environment where potential buyers can imagine their own style and belongings and to create a feeling of spaciousness. It is pretty amazing to see how simply rearranging furniture can make a room feel so much more open or how a new fresh, neutral paint color can brighten and update a room. Staging is particularly helpful with vacant houses – just a few pieces of furniture and decorative pieces can really warm up a space so that it feels more homey to the potential buyers.

I’d like to start off by saying hello to my most avid blog reader – hi mom!

And now on to this week’s topic – house flipping! I found myself watching “Flip This House” on the A&E channel this weekend which is a show I thoroughly enjoy. It depicts folks across the US who buy challenged properties, fix them up and then re-sell them or “flip” them for (hopefully!) a decent profit and the drama that ensues when you tear apart a house. It can be a risky business if you don’t know what you are doing, or it can be a rewarding business – both financially and professionally -- if you do!

The key is to find the right property in the right neighborhood – one that has enough challenges that your renovation will support an increase in value to generate a profit, but not so many challenges that you spend more of your budget than you intended in the first place. Here are a few of my recommendations to you flippers out there:

1. Get an inspection before you buy

2. Know the latest sold home statistics in the neighborhood and make sure your new and improved price is within the parameters of the neighborhood

3. Know your renovation costs before you buy

4. Try to do as much of the work yourself as you can to save on labor costs

5. Renovate quickly to reduce your holding costs!

Welcome to Anna’s blog where I hope you will find helpful information on the Madison-area real estate market!

Last weekend I had a booth at the Madison Area Builders Association New Home Products Show. I was there with my colleague Brandon Buell to chat with folks about our condo projects in Oregon & Verona and about Madison real estate in general. What I most enjoyed about the weekend was getting the chance to run around the show and talk with builders I know and to see the new and exciting home products that are available now.

Growing up, I was always around building and remodeling as my dad was an architect. He would pick me up from school and then take me to one of his job sites, so I got to see the building process from an early age… and home products have certainly changed since then. At the home show I saw roofing material made out of recycled plastics and metal roofs that look like shake shingles, tank-less water heaters, reclaimed flooring, radiant heating, home sauna kits and so much more. The focus now is on creating the ultimate comfort in our homes, but with special attention to its energy efficiency. Buyers, from first-timers to many-timers, are out there looking for a home that is “updated” – front loading washers, energy efficient kitchen appliances, 100 or 200 AMP electrical service with wiring for high speed internet and roofs and mechanicals that still have good life left in them.

You can go pretty wild with all of the exciting home products out there today, but it is best to keep in mind that whatever you choose should be something that you would enjoy while you live in your home as well as something that would add to the value when you decide to sell your home. And that is what I tell my clients! My personal favorite at the show was the home sauna kit… now, if I decide to sell my home soon would I get my investment back? Well, it depends on the buyer, but my guess is probably not. However, will I enjoy my home sauna? Absolutely!

If you have any questions about what remodeling projects will add the most value to your home, just give me a call and I would be happy to give you latest numbers on the returns on your home investment. Until then, happy spring remodeling!!