Wednesday, September 04, 2019 / by Restaino Homes
The number of home sales have trended slightly downward over the summer months. This is typical of our market, and can result in better odds for buyers who missed out during the fast-paced and highly competitive spring/early summer months. Overall, there were slightly fewer homes sold over the past three months this year, than in 2018. The month of July is the the exception, with equal numbers this year and last.
Inventory in Dane County continues to hover around the “2 months of supply” mark. This is well below the average of 6 months of supply typically seen in balanced markets, and indicates a continued seller’s market in our area. This has remained largely unchanged from last year, as Dane County continues to struggle with inventory for hopeful buyers. Last month saw a slight increase however, which may benefit buyers who’ve struggled to find the right home over the summer months.
The average price homes ...
Monday, September 02, 2019 / by Restaino Homes
In Wisconsin, we learn to enjoy every moment we have in our outdoor spaces before the inevitable snow flies. As the nights get cooler and the leaves start to turn, many people start packing up their outdoor furniture in preparation for “hibernation”. There’s still plenty of enjoyment to be had in our outdoor entertaining spaces though – aside from grilling out for the big game. Here are some tips to get the most out of your deck, patio, or back yard this Fall season.
Fall is for s’mores and sipping hot cider – or for having some warm cocktails with friends. These things go best with a crackling fire. If you have the space, consider a stone fire pit to cozy up to in your back yard. Seating around the fire pit will provide a great place for you and your family or friends to spend an evening. Consider alternative seating, like straw bales – they’ll provide a decorative touch, and can even double as mulch for your garden ...
Wednesday, August 21, 2019 / by Restaino Homes
There are many misconceptions about the home buying process that keep first-time buyers from entering the market. Fortunately, they are often just that – misconceptions. Let’s explore some of the more common myths surrounding the home buying process that keep many first time buyers on the sidelines.
You need perfect credit to qualify for a mortgage…
This might have been true many years ago, but the introduction of government-backed loans and more forgiving underwriting practices have opened homeownership up to more prospective borrowers. Consider FHA loans, which are mortgage loans backed by the federal government. FHA loans are available to borrowers with credit scores as low as 500. Some conventional loan programs have also opened up their products to borrowers with less-than-great credit. Some conventional loans can be approved for borrowers with a credit score in the 620-650 range.
You have to have at least a 20% down payment to buy a home… ...
Thursday, August 15, 2019 / by Restaino Homes
When it comes to desirable Madison, WI neighborhoods, Nakoma tops most home buyer lists. With a great near-west location, lush tree-lined streets, and some of the finest examples of architecture in Madison, it’s easy to see why.
It’s hard to imagine Nakoma as a “country suburb”, but that’s exactly how it got its start in 1915. As cars became more accessible to average families, and they were willing to move further from the city center, suburbs like Nakoma grew in popularity. Nakoma’s developers took additional steps to ensure comfortable and convenient living for new residents, like creating Madison’s first private bus line. This gave residents a quick and easy way to access downtown. Nakoma also had its own water, gas, and electrical utilities, along with sidewalks, and plenty of land for parks and recreation.
In a bid to attract more families, the original school house was replaced with a grade school, and restrictive covenan ...
Monday, August 05, 2019 / by Restaino Homes
More of the same… only better!
As was widely predicted, the Federal Reserve announced on July 31 that they were cutting the Federal Funds rates by 1⁄4 of one percent. The move, which has been widely anticipated for weeks, was described by Fed Chairman Jerome Powell as “an insurance policy against potential speed bumps for the economy, including rising trade tensions and a slowdown in global growth.”
While cutting the Federal Funds rate doesn’t have a direct relationship to home mortgage rates, the “trickle down” effect of lowering borrowing rates for banks eventually lowers their overall cost of doing business. This hits the streets where we live in the form of lower-priced mortgages, auto loans and other lines of credit. And who doesn’t like a lower mortgage or car payment?
Filtering this news into our local real estate market data we can reach a couple of well founded conclusions. Once again in 2019, inventory has not kept up with d ...