Do This to Counter Low Appraisals

What can you do if a home doesn’t appraise in this crazy-hot market?

 In the Madison market, inventory is incredibly low. As a result, competition for homes is fierce, and prices continue to rise. When you want to buy a home, the bank or your lender order an appraisal to make sure the house’s true value supports the amount you’re paying for it. This usually isn’t an issue; however, when prices are rising so quickly, homes often don’t reach the agreed-upon price during appraisal. What can you do in this situation to make sure the deal doesn’t fall through? 

In our current market, many buyers deal with this situation by skipping the appraisal altogether. They do this by either offering all cash or waiving their appraisal…

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The Top 3 Home Remodeling Projects

Here are the top three remodeling projects in terms of return on cost.

When it comes to remodeling your home, which projects stand the best chance of getting your money back when you sell? Sellers often ask about home upgrades, so today I’ll talk about the three that will get you the biggest bang for your buck according to data from Remodeling Magazine.

You can look over their Remodeling 2021 Cost vs. Value Report for 2022 here. These are the top three according to the report:

1. Garage door replacement. According to Remodeling Magazine, replacing your garage door has the No.1 return on cost, with a national average of 93.3%. It’s definitely a good way to increase your home’s curb appeal.

2. Installing manufactured stone veneer.…

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Rising Rates Are Affecting Affordability

Interest rates are shooting up; how does that affect buyers’ affordability?

Interest rates have increased recently; they’ve crested 5% on a 30-year fixed home loan. They’re still low compared to historical averages, but with what’s happening with the economy and inflation, the cost of everything is rising. Escalating interest rates will affect buyers’ affordability. 

A 1% higher rate increases your monthly payment by about 10%. For example, a 30-year fixed loan with a 4% interest rate might cost $2,000 per month, but when the rate climbs 1%, that monthly payment will be $2,200. That extra 10% you’ll pay monthly is simply going to the bank; it’s not giving you anything more than you had. 

“ESCALATING INTEREST RATES WILL AFFECT…

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How To Buy and Sell Without Being Homeless

Here are a few of the many ways to sell your home based on your situation.

It’s no secret that this is a tough market. People looking to buy and sell a home at the same time are in a tricky spot. Sure, you can sell your old house easily, but how can you buy a new one without going homeless? 

In a balanced market, it isn’t too difficult to line up your home sale with your purchase, but we are far from a balanced market. There are many ways to accomplish this goal, but I can only share a couple in this short video. Please reach out to me to go through your specific situation.

In a hot seller’s market like ours, you have two main options:

• Sell your old house first. Once it’s under contract, you’ll search for your new home.…

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Busting Five Home-Selling Myths

Here are a few myths about the market that you shouldn’t believe.

If you’ve been entertaining the idea of a home sale, there are five myths that you might be hearing, and I’m here today to share the truths behind them.

Myth No. 1: You can overprice your house, and it will still sell. This is simply not true. We have a very limited supply of homes, but consumers are educated. When you overprice, they know it – they may even skip over your home entirely.

Myth No. 2: You can sell your house as is. Technically you can do this, but if you do,  you’re telling consumers that something is wrong with the home. You should be willing to negotiate repairs as a home seller.

 “IF YOU DON’T MAKE REPAIRS, IT WILL BE REFLECTED IN YOUR…

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What You Shouldn’t Do When Applying for a Loan

These are the ten commandments of applying for a house loan.

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There are ten specific things that you shouldn’t do from the time when you’re applying for a home loan until after you close. We discuss these with all of our buyers during our consultation, and it’s very relevant since people are refinancing because of low mortgage rates. 

1. Don’t change jobs, become self-employed, or quit your job. Discuss any sort of job move with your loan officer. They may say it’s okay, but as a rule, do not change jobs.

2. Don’t buy or lease any type of vehicle.

3. Don’t max out your credit cards or close any accounts.…

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5 Things to Budget for After Buying a Home

The costs associated with homeownership you may not have considered.

Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale. Check out the new app now!

There are more costs associated with owning a home than the monthly payment. Just when buying the home, you’ll have to pay for closing costs, the down payment, earnest money, title insurance, inspections, appraisals, the recording of the deed, etc. You need your real estate agent to lay out those costs for you ahead of time. Then after you own the house, there are five main things you should remember to budget for.

1. Furniture. Many people buy a house and then realize they need to buy furniture, which can cost thousands of dollars…

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Should I Just Sell My Own Home?

Selling your own home is probably a little more difficult than you think.

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Want to buy a home? Search all homes for sale.
Check out the new app now!

If you’re thinking about selling your home and looking at the market conditions, it’s tempting to try and sell it yourself. Homes are selling quickly and over asking price on a regular basis, why not just save on the commission and list the property yourself?

You might be able to sell your home for a good price and get a little bit extra in your pocket, but maybe not. The thing about FSBOs is that buyers are looking for deals on them, too.

You could be leaving thousands on the table by not selling with an agent.

The danger in…

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Simple Things to Consider when Making Renovations

Despite what many home sellers think, not all renovations will earn you money in your home sale. Knowing the renovations that will add value to a potential home buyer is a key part of the home selling process.

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Want to buy a home? Search all homes for sale.

The big question that home sellers should be thinking about is, “What renovations do I need to make in order to earn more money on my home sale?” 

This question, however, could use a little re-framing: “What do I need to do to sell my home within my desired timeline and also see a bigger return?”

Part of assessing what renovations are worth getting is deciding how long you plan to live at the house or property. If you think it'll…

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*SOLD* Quiet Cul-De-Sac Colonial on Madison's Westside

PRICE REDUCED!

3B / 2.5B / $300k

A cul-de-sac you can call home, in the comfort of your cozy colonial on the west side of Madison.

Your roomy kitchen has plenty of cabinet and counter space for all of your cooking needs.

Wide entryways throughout the first floor create an intimate warmth when welcoming guests.

Warm up in front of your gas burning fireplace in your great room while enjoying your sturdy, built-in entertainment center and cabinetry.

Walk out into your sunroom, with your gas burning stove, for all-season relaxation. On a nice day, entertain guests on your spacious deck.

With all three bedrooms upstairs, keep your personal space independent from the shared, gathering areas of your home.

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