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  • Brad Brethouwer | Blog

    Wednesday, January 25, 2023   /   by Brad Brethouwer

    Buyers Need To Hear About This Loan Option

    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." ...

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      buyer tips

    Thursday, January 12, 2023   /   by Brad Brethouwer

    What You Need To Know About the 2021 and 2022 Market

    How the critical real estate statistics from 2021 compare to 2022.

    Today I want to talk about the 2021 housing market and compare it with the 2022's. Now that all the numbers are in for last year, I’d like to dive into them.
    In Dane County, there are currently 692 properties that are active on the market. The average asking price of those properties is $539,000, and the average days on market is 102. There were 7,775 total listings in 2022, which was down 14% compared to 2021. The percentage of sold properties was 93.71% in 2022, which was down 1.3% compared to 2021. The total number of sales was 7,267 in 2022, which was down 15% compared to 2021. The average sale price was $429,000 in 2022, which was up 10% in 2021. The average days on market changed by one day; it was 19 compared to 20 the year before.
    "The average number of days on market was 32 days in 2022 and 20 days in 2021."

    In DeForest/Windsor, there are currently 54 properties active on the market with an ave ...

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      market update

    Tuesday, December 6, 2022   /   by Brad Brethouwer

    The Truth About Our Housing Market

    Here’s what you need to know about our local housing market.

    What’s going on in our market? To find out, I'm comparing housing market reports for November 2022 to November 2021.
    First off, in the Deforest and Windsor areas, there are currently 64 properties active on the market, the average home spends 105 days on the market, and $582,000 is the average sales price. There are 19 total listings that were new in November 2022, as compared to 23 a year ago.
    There were 27 total sales, which is down by two from a year ago. We had a 142% sales rate, which is up 16% year over year, and $480,000 was the average sales price, which is up 17% year over year. The average days on market is currently 59, compared to 23 days a year ago.
    "Days on market might be skewed, but things haven’t changed much overall."

    In Dane County, there are 894 current listings, the average days on market is 82, $521,000 is the average list price, and there were 314 total listings in Novembe ...

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      market update

    Monday, November 28, 2022   /   by Brad Brethouwer

    Real Estate in a Time of Rising Rates

    The real estate market is changing, but there are still opportunities.

    Today, I’m here because of the mortgage rate situation. It’s not news to anyone who follows the real estate market that rates have gone up significantly. They’re hovering around 7%, and a lot of people are freaked out because they are too young to remember when rates were above 5%. Rates are not particularly high, historically speaking. Still, they have shot up dramatically in the last few months.
    The important thing to remember in times like this is that you marry the house, but you only date the interest rate, meaning that the home is long-term, but the rate is temporary. That's why I recommend you get a mortgage now and refinance down the line. When I bought my first home at 8%, I refinanced within six months because the rates dropped enough during that time. You can refinance at any time.
    "Rates have gone up significantly, but there are ways to work with that."

    The reason that the ra ...

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      market update

    Tuesday, November 8, 2022   /   by Brad Brethouwer

    The Reason Why We Have a Shortage of Homes

    The real reason why there’s a shortage of homes in our current market.

    In the last five or six years since we came out of the recession, the shortage of inventory in the housing market has been a recurring theme. For quite a while, it has been getting thinner and thinner, so I looked back and did a little research. That’s when I found an interesting article, and I posted it on my Facebook page if you want to see it. The article talks about the housing market and why we have a shortage right now, so I’m here to share that information with you.
    Going back to 2007, the last significant year building permits were taken out during the recession, the builders took a hit. They dropped almost two-thirds off from what it was before. By around 2012, things started to pick up a little bit, and when 2022 came, it jumped up to around 1.6 million permits taken out. However, a lot of it was for apartment homes and not for residences.
    "We’re behind by around seven to eig ...

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      market update