Monday, May 22, 2023 / by Brad Brethouwer
In these videos I’m going to share with you the March and April 2023 market report for the counties of Dane, Columbia, Rock, Jefferson and Sauk. I will be comparing the statistics from March and April of 2023 with those of March and April of 2022. We will be looking at the median sales price, number of listings, number of sales, the supply in the market and the percent over the asking price you may have to go in order to get your offer accepted in this market.
If you have any questions feel free to call or text us at 608-234-5033, email email@example.com or find us online at www.bradbret.com.
Have a great day! ...
Thursday, April 13, 2023 / by Brad Brethouwer
Hi, I’m Brad Brethouwer, team leader for the Brad Bret Group at eXp Realty. In today’s video I talk about the mortgage rates and how it pertains to purchasing now versus waiting for rates to come down.
I hear comments from people all the time saying, “I’m just going to wait for the rates to come down,” “I’m just going to wait for housing prices to come down.” I hate to be the bearer of bad news, but the only thing that’s coming down is the mortgage rates, not the housing prices.
We are in a market with low inventory and the demand is very high. There’s nothing on the horizon for several years that would justify seeing the values of homes go down. The rates will come down, that’s going to happen. Mortgage rates have a history of going down in the years of a presidential election which is coming up next year.
Today, if you were to buy a $400,000 home with a 6.75% interest rate your monthly paym; ...
Wednesday, March 15, 2023 / by Brad Brethouwer
Trends indicate that values are up and properties are in high demand.
The real estate market in Dane and Columbia Counties has seen significant changes in the first two months of 2023 compared to the same period in the previous year. Today, I’ll break down what’s happening and what it all means for buyers and sellers.
As of March 2023, there were 741 active properties in Dane County, with an average asking price of $564,000 and an average of 82 days on the market. In January 2023, Dane County had 413 listings, representing an 18% decline compared to the same period in 2022. The sold ratio was 66%, down 14%, and the total sales were 272, down 32%. However, the average sales price was up 12% to $434,000, and the average days on the market was 32, four days slower than in 2022.
In February 2023, the number of listings in Dane County fell to 441, a 26% decline compared to February 2022. The sold ratio was 65.99%, down 14%, and total sales were 291, down 23%. The aver ...
Thursday, March 2, 2023 / by Brad Brethouwer
Here’s what you need to know about the state of our housing market.
What’s the status of the current housing market? We're now two full months into the year, so let's start this market update by rewinding to last year.
In 2021, things were hot right out of the gate at about this same time last year. Around May and June, interest rates increased, and the market slowed down. As a result, many people think that it’s not worth it to buy or sell a home, but that is not at all true in Dane County. It may be true in California or some other places, but it isn’t true here.
"Sellers should start planning immediately."
Right now the market is still hot in our area, and buyers need to be ready. Recently, we had to pull out all the stops to get one of our client’s offers accepted. It may seem daunting, but if you work with the right team, there are steps you can take to succeed in this market as a buyer.
Sellers, on the other hand, are in an awesome p ...
Wednesday, January 25, 2023 / by Brad Brethouwer
How adjustable-rate mortgages can help lower your interest rate.
Are you looking to buy a home in 2023? If you are, you’re probably aware that interest rates are a little higher than they used to be. What can you do to mitigate the impact of higher rates and find your dream home?
First, are rates truly as high as people say? According to a chart that was based on Freddie Mac's historical data, the average 30-year mortgage rate is 7.76%. A big reason for that is interest rates were around 18% in 1982 and 1983. However, if you ignore that outlier, the average is still around 6%.
However, if rates are stopping you from buying your dream home, that probably isn’t much comfort. That’s why I recommend looking into an adjustable-rate mortgage. With this option, your rate is lower for the first five to seven years, then it adjusts based on what the prime rate is at the time.
"The sooner you buy, the sooner you can take advantage of your equity." ...