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A Year In Your House: A Timeline

A Year in Your House:  Part One, Spring Working in Real Estate affords us the opportunity to help people find their dream home and navigate the process in getting there, but our clients also rely on us for other aspects of the home-owning. In order to organize some of those recommendations and host them in one place, we've decided to kick off a series of blog posts about good things to do annually to keep your home in working and appealing shape. The posts will be broken up into four parts, one for each season, and will be delivered at a time that'll give us all time to do these things while they are still helpful and relevant. Please enjoy part one: Spring!

Clean gutters If you've got trees framing your front steps, or anywhere that their leaves might find their way on down the slope of your roof, you're going to want to take a look to make sure your gutters aren't clogged with last fall's foliage. A clogged gutter isn't just unsightly, it also could disrupt your home's ability to handle heavy rains! Inspect Roof The Wisconsin winter is always a large task to handle for a house, but the roof often bears the brunt of the snowy assault. It's important, especially after any hail in your area over the course of the winter, to have someone inspect your roof for any damage. This is typically something your insurance can help you with, and should save you a headache down the road. Plant/Trim Trees & Bushes It's spring! It shouldn't all be doom and gloom. The lengthening days and warmer weather means it's a great time to put some gorgeous plants in the ground! If you're going beyond the garden this year, now's when you want to be planting trees and bushes, so they can be firmly rooted when cold weather comes around. If instead you want to prune back some of the flourishing greenery you have in your yard, early spring is a good time to think about this as well, before these plants begin to grow even larger! Be careful though, severe trimming should wait until fall, when the tree is dormant and has time to recover. Bill Haessig and H&H Arborists do a great job, which is why we list them as one of our Platinum Partners! Clean Windows Whether you're hurting for sunlight in your home, or have natural light in spades, you'd be amazed how much of it doesn't find it's way in through dirty windows. After all the snow and ice that's been occupying your window panes melts away, it leaves behind some dirt and grime. Giving the outside of your windows a scrub or hose can bring that beautiful Wisconsin spring sun back into your home. Oil Garage Door Tracks This can really be done anytime, but especially in the middle of spring cleaning, it might be good to go out of the house and into the garage to oil up your garage door. You can probably tell if your garage door tracks need oil, because if they do, they're probably screaming it at you when it opens and closes! Spray a little of the magic WD40 to quiet those tracks down.

Embracing Volunteering

Teaming Up for Others The Charlie Wills Team works each and every day to bring our clients closer to their dream home, but as a group we know that it is important to spend time together helping our non-profit partners as well. That's why each month, we plan out time in the week to volunteer our time in some capacity to try and make a difference in Madison. In the past, we have volunteered at local food pantries, but this week we got to help out at a couple great local events!

United Cerebral Palsy of Greater Dane County Celebrity Gala & Auction The United Cerebral Palsy (UCP) of Greater Dane County raises money each year, and have for the past 30 years, to benefit those individuals in the area who have this disability. Each year, over 1,600 individuals are supported by the UCP of Greater Dane County, and their annual gala is their flagship event. The Charlie Wills Team aided their staff in setting up and organizing the auction items, and we headed up to the Edgewater Hotel's Sky Bar that overlooked the beautifully frosted Lake Mendota to finish preparing for the events to take place later in the evening. In all the UCP of Greater Dane County raised nearly $75,000 to aid those who truly need it, and we were honored to go beyond real estate to raise some awareness and some money for a worthy cause. Bowlin' For Colons 2017 Thanks to Platinum Partner of The Charlie Wills Team Ryan Behling, Charlie has been bowlin' for years now, but it marked the first year for the rest of the team! The event features bowling alley's all over Madison filling up and pouring beverages to raise colon cancer awareness and gather as a community to help the Carbone Cancer Center as they look for funding in their effort to combat cancers. The Charlie Wills team name, chosen by and heartily endorsed by its members, was "Guacabowle," and what we lacked in bowling skill, we made up for with intrepid spirit(s). Our raffle attempt was stymied, but we rested easy, knowing the money was going to a fantastic organization.  If you are still looking to make a donation, or want to keep an eye out for next year's Bowlin' For Colons event, click here!

Bowlin' For Colons #TeamGuacabowle Click here to donate to the Carbone Cancer Center! UCP of Greater Dane County Celebrity Gala

Too Many Crappy Agents

Too Many Crappy Agents

When reading the title to this blog, you're most likely thinking what dirt am I going to share about our profession. I was reading Inman news last week and a wonderful article was written about the #1 issue in our industry. Rob Hahn was quoted saying, “that the number one issue is that there are way too many crappy agents” in this real estate industry. I could not agree more, and not because I want to bash anyone or make myself look better than anyone else. I only wish to educate on what our titles truly mean. When we get our license in real estate sales, we have the ability to be apart of something bigger:  an organization that holds itself and its members to a higher level of professionalism. For over 100 years, the National Association of Realtors has stood for higher ethics, professional development and training, and a few other key areas that separate them from licensees or agents.   ● Realtors are committed to more than themselves      ○ They are there to create and maintain their communities      ○ High civic duty      ○ Zealously maintaining the ethics and standards of our industry Sellers and buyers purchase a home every 7 to 10 years on average. By its nature then these clients tend to be more naive and unfamiliar with process and all the details involved with the process of buying or selling. As a consumer don’t be afraid to ask the tough questions. Here are some to consider:   ● How long have you been in real estate and what continuing education do            you do to keep at top of your profession?   ● Do you work alone or with a team?   ● How many homes do you or your team sell a year?   ● What’s the average sale price you sell?   ● What is the average list to sale price ratio?   ● Do you have a professional stager? Photographer? Videography? Marketing          team? What other attributes separate a Realtor from an agent/licensee? Below is a small list we have compiled but this isn’t all of them but some of the best: Realtor​:   ● Full time professional   ● Honors the Code of Ethics and Standards that the National Realtors                   Association has created   ● Puts clients above self. Always   ● Intimately understands the market and how it can affect each client   ● Powerful negotiator   ● Knows the contracts inside and out   ● Strong professional relationships that help assist you now and in the future      ○ Lenders, title, inspectors, contractors, builders, insurance, financial                    planning, etc   ● The latest technology and marketing tools   ● Has a dedicated team to work with their clients to give them world class             experience.   ● Understands and knows the latest real estate issues, developments, law             changes, and local businesses.   ● Work life balance   ● Great communicator In our experience most agents/licensees are working another job and can’t keep up on the market let alone your transaction to best help you. They also don’t know the market as well and could lose a contract for you based on their lack of knowledge. And lastly, they are poor communicators as they are not available during business hours to assist you. When you are looking to work with a Realtor to help you navigate the real estate process, make sure you know the difference and how it could affect you.

Why Use a Premium Builder

Why Use A Premium Builder?

Your typical builder is trying to do two things one way. The two things: build houses and make money. The one way: FAST. This can result in a number of potential problems, ranging from drafty rooms to crooked trim, or bigger issues like unusable space in the home. These are problems that should never crop up when you're making such a large investment. Know who you're working with before you sign that contract! Working with Ganser Construction has given us some insight on what makes them different from a "standard" builder. Top of the Line Materials In their Waunakee builds, Ganser Construction stays with their tradition of using top of the line building materials. For example, 1104 Aldora Lane is highlighted by quartz countertops, soft-close maple cabinets, and dynamite wood flooring among all of the modern features like zoned HVAC and tray ceilings in the master suite. But using high end materials isn't just for the interior of your home. In the Madison area, premium home builders and their products have a special value thanks to the harsh winters they must withstand. Ganser uses siding that is thicker and stronger than what is generally used in Madison homes. This siding can withstand up to 240mph winds, compared 195mph of thinner, cheaper siding, so that the chances of their client having issues with the exterior of their home is almost non-existent. Building Staff Rather than hire out for specific jobs or houses, premium home builders have a staff of carpenters, framers, and foremen who oversee each project. Having these employees on staff means that each home starts with the same level of expectation and ends with the same high standard and consistency. These people aren't hammering out a job and moving away--if they do something dissatisfactory, they'll be the ones fixing it. Some of Ganser's staff has been working with the company for over 30 years! That builds consistency that a job-by-job hiring company just cannot match. Lot Availability Part of what makes Madison great is our gorgeous lakes that the city's downtown is built between. However, this creates a logistics problem when considering building a new house:  there isn't enough land! What a premium builder can often do is provide both the building expertise AND highly sought after lots on which to build. Ganser is present in the Madison area in Waunakee, in their Westview Meadows Neighborhood. Building in this area assures you a spacious lot in a suburb near Madison, something that could prove difficult to piece together on your own. Cost Savings Not only does owning the land they're building on make a premium home builder like Ganser the convenient option, it also could prove to be the best choice on the bottom line. The cost of re-doing a room to add in high end features can be daunting, but when you add them in with the build, there's no demolition cost, no inconvenience of living with a renovation. Building a home means by definition that all of your appliances, mechanicals, all the things that typically cost you money when they go wrong, are new! This means those unexpected expenses are more than likely pushed much further down the road than they might be for a previously owned home.

2017 Market So Far

What Happens When January Heats Up?

Well if you've been outside this past week, you'd say we have a HOT February!  But seriously, 2017's month of January marked the third highest sales total on record for the South Central Wisconsin MLS, bucking the old standard of a slow start to the year.  As a result, average sale price increased yet again, making it the 17th of the last 18 months to see hoe prices rise.  Aiding this further budding 2017 housing market is the overall positive-trending economy, including a growing number of jobs, evidenced by the 2.6% employment rate in Dane county! How Old Are Homebuyers? The average age of homebuyers is 32 years old, and 4.4 million people (born in 1985) will reach that milestone this year.  That number could trend younger if the economy continues to support more jobs and younger employees begin to have home-buying power. Interest Rates Rumors continue to swirl about higher interest rates on the horizon, having just completed a 2016 that saw rates dip below 4% for a majority of the year.  This does not seem to indicate a market driven by heightened or heightening interest rates, but rather that the desire for improved family wealth will be a driving factor.  Interests rates are often a topic of discussion, especially considering the recent past, with averages increasing from the already high 5.84% to 6.41% in 2004-2006.  Those rates ran concurrent with the some of the highest sales numbers, so any jump could heat things up in a hurry. Overall Supply The supply of homes in our area remains very low, just a third of where it was in 2015.  We've covered what to do for both buyers and sellers in our recent Assist article, and it looks as though those tips will continue to ring true as we move into spring!

 

 

June Letter of the Heart

Letter of the Heart

2016-07-01

You can read Charlie's Letter of the Heart below or with graphics (and a really cute picture) at this link:  Letter of The Heart June

 

I got a really nice First Father’s Day card from my wife’s Aunt Charlotte and it really hit me hard when I read

the poem. Here is what she sent:

“Be prepared Dad! I will change you…

Change your goals to get you home earlier every day.

Sometimes I will give you superpowers, but sometimes I will make you feel like the weakest person in the world.

I’ll test your patience to make your heart softer and your limits to make you tougher.

But I promise, Dad, it will be the greatest journey of your life.”

I know that I am not the only one that can relate to this poem, but it is something that I wanted to share since we are celebrating Father’s Day this month!

Every time I read this poem, I get overwhelmed with emotions on a level that I have never felt.

There is nothing more exciting than coming home early to spend time with Grant and Crystal and see their smiles.

And when I look into those big beautiful innocent eyes of my son, they give me such strength and courage to work harder to become a better person. My parents told me that being a father will be a love greater than you can ever imagine AND they were so right!

Although it doesn’t overshadow my love for God, my wife and my family & friends, Grant has made me greater than what I was before he became a part of my life.

At the same time, when he has a simple sickness or worst his shots….I feel completely helpless and weak! All I want to do is cuddle him to make the pain go away the best that I can. He has definitely made me both softer and tougher at the same time in so many ways!

This year our good friends lost their daughter, my heart has never felt so heavy and burdened.

Having Grant has blessed me to be able to walk by their side, understand and support them through their heartbreak. Grant has given me everything beyond I could ever hope for…Strength, courage, wisdom, grace, love!

I used to describe fatherhood as the “Best Job” but now I couldn’t agree more that it is indeed the GREATEST

Journey of my life…an adventurous, loving, crazy, exciting GREATEST journey that NOTHING could have prepared me for but so WORTH IT! My heart, mind and soul have been changed forever and I am so grateful.

Enjoy the Journey!

Charlie Wills

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The Assist: #4 The Market as the Weather Turns

Market update 2016- The Assist

The third quarter ended with the hottest market since 2005.  Inventory is down 16% from 2015 in the MLS at this time last year and down 29%, SCWMLS and Dane County from 2014 in the same time.  In Dane county median sale prices have increased 6.12% from 2015 to 2016 YTD.  For historical perspective values have increased 16.94% from 2012 to 2016 YTD.  You may be wondering why have prices grown as fast.   A stronger than average local economy, low job rates, strong consumer confidence and the biggest reason for it in my opinion is inventory.  Since 2012 inventory levels have dropped 55% in Dane County!!  That is dramatic.  Lack of development and new inventory has been a large factor but the reasons above have also attributed to the increase with low rates helping to sustain the growth.

This is a nice view of the macro economy for Dane County but every city, and neighborhood has its own heartbeat for values and desirability.  When considering what to do in your own situation having a local trusted resource and Realtor will help you navigate the in’s and out’s of your area the best.  

Some of the most important date is about absorption rates.  These help us understand the market and the pace at which each price range is selling and you can do that for each county, city or neighborhood.  Right now in Dane County “normal” markets run at 6-8 months but we are seeing as low as 3 months for all homes under $250,000.  Condos are experiencing a resurgence as well with all condos priced under $300,000 with 4-5 months absorption.  

What should you do if you are a buyer or seller in this market?

If you are a buyer, the market is tight and inventory levels have been on the decrease since 2012 with the most dramatic changes coming in the past 2 years.  First step is to meet with a lender that is local and trusted.  Don’t just focus on the rates they offer as it is service( i.e. Can they close the loan on time?  Do they communicate with you and all parties to make sure all items are discussed with you?).  Also, meeting with a Realtor is important to do even if you are just thinking about it. You are not wasting anyone's time to do some basic research on the market, who you want to work with for finding the right house, market conditions and how they affect your situation and what can I really afford.  All powerful when jumping into a market as a new buyer or veteran buyer.  Markets change each month and having a local expert allows you to tap into that knowledge.  What’s even better is the commission for a buyer’s agent is paid in most situations by the seller broker as its part of the listing agreement to share that fee with the buyer’s representative. Pretty nice if you ask me!

If you are a seller, the same preparation rules apply to you as well.  The market is hot but don’t confuse that with you can ask any price or terms as 97% of all buyers have financing and they bank won’t lend on a house it can’t find appraisal value on.  Some buyers may be willing to pay for the house and cover a shortage in the appraisal, but not all have that ability so pricing is a limit of market and appraisal values.

Preparation is key.  Just like preparing for a final is done weeks in advance and not the night before, so is getting your home ready for sale.  Find a Realtor that offers staging services in it’s commission.  That person will help your declutter your home and present it in a way that allows not only the photos to be amazing but buyers to really buy in with their heart and minds.  Curb appeal matters no matter the market and will help you secure the best terms.  Another recommendation is having the home inspected.  We ask this of our clients as you never know what may have happened to your home in the past 7 years that you have lived there and you might have missed something.  I have mine done each time before selling to get ahead of it and make sure I can show the buyer my ability to be a responsible home owner.  Landscaping, paint and drywall repairs are by far the most common but sometimes replacing the carpet or updating something small makes all the difference.  

Fourth quarter expectations and market:  The market will still be moving just at a different pace with the weather changing and holiday’s approaching.  Great to be a buyer in this time of the year with lower competition but less inventory to choose from.  Our market in Dane County resumes in late January and beginning of February and has been that way for the past 20 years.  

Hopefully these tools and tips are useful for you to help you prepare for a successful journey in the real estate market.  We are always happy to help and answer any questions, please email charity@yourbadgerrealestateagent.com with your questions or inquiries or more tips to be successful in these market conditions.

 

The Assist: Importance of Pre-Approval

Importance of Pre-Approval: 

When looking to buy a house, the first thing you need to know is how much you can afford to spend. Your realtor will need to know how much you are willing to spend on a home, and you will need to know how that price relates to the amount of work and money you need to put into it.

The first step to knowing how much you can spend is scheduling an appointment with your lender. In the Madison area, we have some fantastic lenders that we have worked with time and time again, and they are transparent, responsive, and reliable.  The lender will sit down with you and discuss your debt-equity ratio, your income, and how that relates to your monthly mortgage payment.

After your appointment with the lender, you will know how much your new home can cost. This is important, but even more important when it comes to putting an offer in on a house with your realtor, is a pre-approval letter. This is an official document from the lender that says that you can afford to buy a house worth the amount that they’ve determined based on your financial information. Especially in this market, you should possess a pre-approval letter before going on showings, so that you can put an offer in on a property as soon as you decide that you can see yourself living there.  The pre-approval letter is required for your agent to even start writing an offer for you, unless of course you’re paying with cash.

So the basics are:

-       You need pre-approval to write an offer

-       The consultation with your lender will give you a clear perspective on your financial position, and how much you can afford as a purchase price on a home

-       Choosing a reliable lender is important, because the last thing you want is to have them back out at the last minute, or fail to submit the necessary paperwork on time

Thank you for the reading The Assist, you can subscribe to the blog by filling out your email at: http://eepurl.com/b8kIFz, following us on Facebook.com/CharlieWillsRealEstate  or on Twitter and Instagram @BadgerRealtor. 

And as always, if you know someone who is looking to buy or sell their house in Madison, do not hesitate to reach out to us; Charlie and the team would love to help!

 

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The Assist: A guide for Madison Area Buyers

 To kick off our blog's first in-depth article, we wanted to first address the current state of the market. The market will most likely determine the negotiation strategy when buying a home more than any single factor in the home itself. When the market is full of inventory (houses for sale), a buyer knows that there is time to shop around and see different houses to compare and contrast and really think the decision over in their head several times. This is because with a high number of houses available, there is a good chance that in the buyers’ price range, there are several houses that fit the criteria they are looking for, and the decision will come down to more specific factors.

 

Low Inventory

Typically, homes in the Madison area spend an average of 6-8 months on the market before receiving an accepted offer. Now, they are spending a mere 2-3 months before selling! – Now this is all homes, from the lofty condo looking out from the center of downtown to the TLC-needed farmhouse in the country, meaning that buyers in some price ranges are unable to even make it to an open house before the home had an accepted offer! In one case already this year, a home that Charlie had listed as going live received an offer they liked so much that before we had received the high quality photos from the shoot at the house for our promotional and marketing materials, the sellers accepted! Now clearly this is a separate case in which the buyers were very bold, and it wouldn’t be prudent for us to advise anyone to throw offers at homes that “seem” right, but it does give us a good indication of where the market is at the moment. 

What does that mean for you? Well, it means that we aren’t working with as much time as the last time your bought a house in the Madison real estate market, or as much time as is depicted in the HGTV shows we all love. Showings will be tight, and you may only get one chance to see a property before a competing offer may be on the table. This isn’t ideal, but if a house is on this market for any extended period of time, there is a reasonable assumption that this is for good reason. It could be that prospective buyers have found one feature they can’t ignore, or simply that the sellers’ price is prohibitive when matched with comparable homes. When considering price as a buyer, you must also know that the sellers know the current state of the market for real estate in Madison as well.  Although you might be extremely motivated to buy, and we motivated to find the home that is right for you, we still must find a home that is likely to bring financial success in the future as well—so we aren’t advising you over-bid immediately for a home you’ve seen once.

 

Negotiating 101 

When actually entering negotiation on a property or a home in Madison, the market plays a big role in how we are able to approach the bargaining table and what we can ask for.  On those fun HGTV or other real estate shows, often you will see the buyers negotiate down in price or add in certain closing credits that re-assign the fees associated with the title transfer and the legal transaction of buying a house as a whole.  That is something that will not fly in this market. Unless there is something that is actually a flaw in the building, the code, or the surrounding mechanicals, the seller is not in a position where they must make any changes you ask. Even if there are ten things you would like changed, unless the changes are necessary to the purchase and will literally keep you from buying the house, they aren’t something the seller needs to fix or even know.  Most likely they will have another offer at the time of yours or soon enough, one that does not have such issues with the property, and therefore that offer is held in higher esteem from the sellers’ side.  Once you’ve moved in and made the house your home you can make the aesthetic changes to truly make it your own.

In addition, we have had some clients in the past ask about removing contingencies, such as inspection to create a stronger offer. Removing inspection especially is something you should do ONLY if you have experience in residential construction and trust your knowledge, know the building, or you just have a risk-inclined heart and the cash to back it up. No matter the reason, if you have your mind set on removing all contingencies, we won’t stop you, but we do want to advise you to make sure that you know what you’re signing up for so that you can always make the best decision that benefits one person the most: you. 

Some other ways to boost your offer to the front of the sellers’ minds is by removing other contingencies, such as the appraisal aspect of the sale. This means that you would be confident and have the wealth to purchase the home at the offered price, regardless of how much the independent appraiser might say that the home is valued. This is tricky when dealing with a lender, as the bank will most likely require knowledge that the amount they are lending you is less that the amount they would recoup in event of a foreclosure. Again, any time you remove a contingency on your offer, you are opening up a risk, the question always comes down to if the home is worth that risk to you. Below is a quick chart with notes to do or don’t in this market:

 

Do’s and Don’ts

Do: Full price or better

- Closing when it works best for the seller

- Low or no contingencies are possible –Reducing risk and possibility of spending more money during your sale.

- 20% or more down payment

 

Don’t: Give the buyers credits

- Pay for home warranty for buyers

- Home sale contingencies that could cost you money instead of the buyers

Throughout the real estate buying process, trusting your representative is key, because Charlie and our team have the experience and knowledge to navigate this seller’s market and find the right combination of current value, room for growth, and a home for you and your family.

To recap in short, this is a seller’s market. It most likely will continue in this area through 2018 per all projections and economic previews. 

To keep up with all the happenings on The Assist, please go to this link so that you can sign up to receive our newsletter and be alerted when our newest content goes up!

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A Brief Condo Buying Guide

The Assist: Condo Buying Guide

A Brief Condo Buying Guide

While in residential real estate, we work with different property types, the most common of which are Lots/Land, Single Family Homes, and Condos. Each type of property have their own regulations, guidelines, and stipulations attached, but today we’re going to address how to approach the buying process with condos.   Condominiums have some unique qualities that have both pros and cons to the homeowner.  The primary thing that comes with buying a condo is just that: home ownership.  While the condo may be an apartment-style layout or even have a shared entrance, when you buy a condo, you OWN it, setting it apart from renting.  You have the right to paint however you like, put nails in the walls without fear of reproach, update flooring and more! Condo ownership also provides additional services that would normally be contracted individually at the sole expense of the owner, such as snow removal from parking lots and sidewalks, or leaf removal from green spaces.   These expenses are crucial to researching a condo property, because each month your condo fee—much like a Home Owners Association fee—goes to paying your share of association’s bill.  Before putting in an offer, an agent can request and present to you the association’s annual budget.  This can be in-depth and a little daunting at first, but going through it line-by-line can really help determine if you are joining a group of owners that are in a solid place financially.  This carries importance especially when unforeseen circumstances arise—such as hail damage, upgrades/repairs, or even parking lot resurfacing. When an association is in a good place financially, they will have a sizeable reserve and plan for these expenditures.  If they do not, you could be in for a surprise bill to cover the cost of these problems that pop up along the way!  In short, a small condo fee may seem like a better deal, since that’s a major part of your monthly payment that DOESN’T go towards the principal on your mortgage, but this only holds true if the association budget is fiscally sound.   Depending on the setup of your condo, you may need to pay for and maintain your appliances as you would in a single-family home. Your furnace, air conditioning unit, and all household appliances (refrigerator, washer/dryer, etc) are all your responsibility.  To ensure you don’t encounter these expenses in the first year of home ownership, a home warranty--like those UHP Home Warranties offers--will cover your appliances while you settle into your new home without worry of an unexpected large expense. For More Information on Condo Buying Reach Out to Us! Click Here, Call, or Read More Below!

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Adding Value to Your Home:

Four Ways to Efficiently Improve your Home's Worth

     When it comes to adding value to your home, most minds leap immediately to the big projects. Taking out walls, re-doing your kitchen, gutting your bathroom; these are all classic home remodels from our imagination to any HGTV show. However, the idea that the big projects are the money-makers is wildly overstated. Unless you were savvy enough to nab an underpriced, un-updated home with “good bones,” chances are that getting the kitchen of your dreams will wind up being more for you and less for the price of your home during resale.
 
     One of the most important things to remember, like all things in Real Estate, is to know your market. For example, Remodeling Magazine’s national study found that on average, redoing a bathroom brings back about 70 cents for each dollar invested. In Madison however, a basic secondary bathroom remodel will likely return about $0.55 for every dollar spent. A modest kitchen remodel is slightly more efficient, right around the national average, returning approximately $0.65 on the dollar to the investor. As you can see, that endeavor still loses money.
 
     The ideas that follow may not be as fun or as sexy as the big time kitchen or bathroom remodeling projects, but they will boost your home’s value at a higher rate, and some even save you money in your home’s operating costs as well!

**Keep in mind, the numbers and values described are on average, based on studies in Madison, as well as nationally, and are contingent on the mentioned items needing or are in the right timeframe for repairs or replacements.
 
1. Entry Door Replacement
            Not only can a sturdy new front door increase the security of your home, but it also puts nearly 85 cents of every dollar of the investment directly back into the home’s value. According to COST VS VALUE, fiberglass doors run about $3,100, while a steel door comes in a little more than $1,000. The curb appeal benefit of a new, dashing front door, combined with improved security and a low initial investment makes this an easy home improvement choice for this list.
 
2. Attic Fiberglass Insulation
            With an initial cost at around $1,200 according to CVV, insulating your home’s attic with fiberglass insulation could return 81 cents per dollar you invest. This amount takes into account the value added to the home, but a properly insulated home also operates more efficiently from top to bottom, saving you money on heat and air conditioning.
 
3. Siding Replacement
            Living in Wisconsin has its own perils, but when you own a home, you become all too familiar with the potential issues that our winters wreak on structures big and small. The first line of defense for your home is the siding. Siding investments returned nearly 93 cents on the dollar to home owners according to a study by Remodeling Magazine, making it one of the smartest projects to date! And of course, using premium siding (Ganser Construction does this) helps to keep your home safe from the elements, no matter the maelstrom Wisconsin throws at it through the seasons.
 
4. Upscale Garage Door
            This tip may not be for everyone, as CVV put the ROI on a Madison garage door replacement at just over $0.50 back, but what they classify as “Upscale” homes clear $0.73 for an average ROI when replacing the garage door. Just like the front door and siding, a new garage door adds curb appeal, safety, and energy efficiency to your home in addition to the value added.

Stay Away Unless You Need It

Roof

If you need a new roof due to leaks, damage, or other issues that might affect the roof’s structural integrity, these numbers don’t affect you. If you need a new roof, you need a new roof. These numbers look at if you’re considering replacing your roof for the purpose of adding value to the home, and in this market, it’s just not prudent.

Basement Remodel

If your basement is finished and that square footage is included in the assessed value of the home, re-doing that space will rarely gain you a windfall back. This is especially true of Madison homes, earning back just under $0.52 of the investment.

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BHAGs and Where to Find Them

This time of the year we just come off the high of seeing a lot of our loved ones and families. I really enjoy this time off to be together and just hang out. Also, at the beginning of every year, I love to do the goal exercise BHAG. You are reading that right!

Big.Hairy.Audacious.Goal. If your dream doesn’t scare you it isn’t big enough! This came from a coaching program to set goals, push you outside your comfort zone, and live life now. I laugh and enjoy each time I think about my BHAG because I know it is going to make what’s most important in my life a daily priority and make the most of my life. For instance, my wife and I always set personal goals and family goals for vacation time together, new projects we are taking on in the house, and how we become the best mom and dad we can become. This year has been largely focused on finding my purpose in life and living it. I certainly didn’t wake up one day and say “ I got it, my purpose is…”. I did a lot of digging deep in a program called Initiative One out of Green Bay run by an amazing leader and mentor, Fred Johnson. It molded 16 men and women to help them focus on their purpose and how to live with that purpose each and every day and in every decision along the way instead getting caught in going through the motions and wondering what you did that day or week or year. BHAG helps start this digging deep process. My BHAG starts with doing something I have never done before. Putting God first, then my family and friends, then work. I know that increasing my faith will help me with my personal relationship with God which will help bring other things in my life together. This is going to be a challenge and something I am looking forward to but it will be an amazing challenge. I would love to hear what your BHAG are for 2017 and what is your purpose in life. These are exciting for me to hear and help those around me achieve. The journey and failures along the way make getting there even sweeter!

Have a great 2017!

Charlie

 

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EOS Charlie Wills Team January 2017

A 2017 Sellers Market

With the lack of inventory in today’s marketplace, it is a prime time to sell.
As a seller, you might be saying to yourself, “I know the market is hot to sell, but if there is low inventory, would I be homeless or pay way too much more for a new home?”

As a seller, you are having more and more success not only getting a favorable price, but favorable terms, like not closing until you buy a home or renting back until you find the right place.  With rates as low as they are, upgrading to your next home or forever home has never been better.  

With the rates potentially rising from 3.75% to 5% by the end of the year, now is the time to lock the rates before your payment could increase for the same
priced home.

With strong consumer confidence and strong economy, we are looking
at 2017 being another strong market, and a heavy sellers market.  
The lack of inventory and new construction drives this market.

As you can see in the table to the left, the price of homes and condos has 
increased 5.2% over the past 12 months, mostly due to the lack of inventory in 
the area running around 1.7 months of inventory.  An "normal" market is usually 
around 6-8 months of inventory.

Top Tips for Buyers in This Market

1. Offering 2-5% in earnest money. This shows the seller your ability to be liquid
2. Full price with escalation clause. This allows you to outbid each offer up to a max price that you are comfortable with
3. Having as few contingencies as possible. Only do what’s necessary, and we recommend doing at least an inspection, but leave all other contingencies out to be as clean an offer as possible.
4. Lender calls listing agent to show how good of a buyer you are and how strong financially you will be to buy the home.

Charlie Wills Team home sales since 2010

Our team knows the market, so let this experience work for you!

Set up a FREE 15 minute phone conference to get your updated values! 
Email Charlie.Wills@YourBadgerRealEstateAgent.com

Five Staging Tips to Help Sell Your Home FAST

Staging Tips:

1: Choose Charlie Wills as YOUR Badger Realtor ;) – We have relationships with a couple different professional stagers either as their main trade or furniture shops that showcase unique, specialty pieces that help your home look its best!

1a: Clean. This may seem obvious, but with everything happening while you look to sell your house and buy a new home, it can get overlooked. Little things like making sure your bathroom mirrors are spotless can leave a positive impression on a prospective buyer, especially compared to a dirty one. Places that have extra light are especially important to maintain, as these areas will highlight any sort of blemish.

2: Make sure your home’s general upkeep is in order. When selling your home, the last thing you want is for a buyer to be turned off by something as insignificant-seeming as a burned out bulb or a rickety fan or furnace. While there might not be anything actually malfunctioning or “wrong” with these objects, buyers will be seeing homes with all of this in order, and you don’t want to lose money in a possible offer over something trivial.

3: Downsize. That antique piece you squeezed into the dining room corner might have sentimental value to you, but a prospective buyer will only see something that clutters the room, making it appear smaller. Trade your decorative furniture for wall art or smaller, less invasive pieces that will maximize the appearance of your home, helping prospective buyers see the entire space for what it is.

4: Be generic. You want to make sure that a buyer can see themselves in the house, meaning that the life-size portrait of your great-grandmother might not be the best thing to leave hanging in the bedroom.

5: …just not TOO generic. While some intimate or family items are a bit too much, you also want to make sure potential buyers know that they too could live comfortably here. Most likely you’ll still be living in the house while you show it and are trying to sell, so don’t be afraid to show off some of those features. If you make a smoothie in the morning, it’s okay to leave the blender out…just clean it first.

 

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New Blog!

Having over 10 years' experience as your Badger Real Estate Agent, my number one priority is helping you establish and accomplish your real estate goals in a prompt, fun, professional manner. 

I use the latest technology and marketing initiatives in conjunction with personal networking to create a smooth, hassle-free real estate process. This blog and my social media profiles are all part of this overall, no-stones-unturned plan.

As a former UW Alum and Badger Athlete, I have a love for the state of Wisconsin that runs deep and am proud to help my clients find their forever home, starter home, hunting land, business storefront, family cabin and so much more!

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Shedding Light on Hidden Home Buying Costs

Shedding Light on "Hidden" Home Buying Costs In Real Estate, we have the privilege to work with all sorts of people looking for all types of home, from the high-end condo shopper, to the first time home-buyer looking to put down roots.  One aspect that might be intimidating for that first time home buyer in Madison, is just not knowing if you are able to buy, or even what costs are associated with purchasing a home.  We'd like to show that it's not a scary process, and we help people through it every day.

Down Payment This isn't so much of a "hidden" cost of home buying, but it is the largest one, so we should address this right away.  A down payment can be as high as you'd like it, and the age-old standard is 20%, but many buyers range from 5-15% if they aren't able to easily afford to invest 20% of the home's value up front.  This is fine, but it leads to another "hidden" cost, in private mortgage insurance--that is, a payment that you pay to insure to the bank that your debt can be resolved in event of unforeseen circumstances.  Down payments can sometimes be as low as 3.5% of the home's purchase price, but only certain lenders can or will offer such a proposition, and it is typically paired with a higher interest rate. Total Cost: 3.5-20% of Purchase Price Home Inspection Contingencies are in place in written offers to protect the buyer's right to certain actions during the home buying process.  One of the most basic contingencies is the Home Inspection, entitling the buyer to order an inspection of the property for any defects, or things that shouldn't be wrong with the home.  A home inspection can catch anything from rotting wood to needing to replace a roof, so they are highly recommended.  While the cost of a home inspection is dependent on square footage, they typically cost our clients about $360. Total Cost:  $360 Radon Radon testing is another contingency that allows the buyer to order a radon test, and depending on the results, demand remediation from the seller before purchase.  This tests for radon levels in the property to ensure they are at a safe level for residency. Total Cost:  $130 Earnest Money When submitting an offer for a home, the potential buyer must include "earnest money" to show that the offer being submitted is genuine, and that they are capable of making the purchase.  This money is returned to the buyer if the offer is not accepted, or during closing if it is.  While this isn't necessarily a "fee" since it is given back to the home-buyer, it is a requirement that the buyer is able to have this amount of money on hand, in addition to their down payment and ability to pay the required fees along the way.  For Madison home buyers, earnest money is typically $1,000, or 1% of the home's price, especially as homes reach higher end value. Total Cost:  $1,000 or 1% of the purchase price Closing Fees Some of the fees so far are technically avoidable, if you choose not to exercise your contingencies or decided you didn't want them in the offer, it would be quite a bit harder to dodge closing fees from title.  Title fees cover the administrative costs of changing the title of the property over to the new ownership, and making sure that everything is correctly filed and licensed in order to make you the rightful owner of the new home.  These fees vary, but are usually around $350. Total Cost:  $350 Situational In addition to the fees listed above, there are some optional items that, depending on the property, might not be very optional.  For example, a property that is not on the city water line and/or has it's own septic tank system might need a water analysis ($135), septic inspection ($150), and/or septic pump (~$175--depends on # of gallons) in order to save you potential thousands of dollars in repairs down the line.

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The Assist: A Market Update

Hey Everyone, we've recorded an update on the Madison-area Real Estate Market, check it out, and stay tuned for more Madison, Real Estate, and Badger updates on The Assist!

https://www.youtube.com/watch?v=PKvhj7yeXzo

CW

 

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Wisconsin Housing Statistics

Click here for up to date housing statistics for the entire state of Wisconsin and in your area. Keep up to date on what is happening in your area. If you want more specific information about your neighborhood, city or township, feel free to contact me anytime.

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