July 1

3rd Annual Fourth Fest

It’s a celebration of America and it’s happening at The Edgewater (1001 Wisconsin Place, downtown). Enjoy live music, grilled food, craft beer, fun for the kids and more. Admission and all shows are free. Get there by 2 p.m. and stay until 9. Get details online at theedgewater.com.

 

July 1 and 2

BrickUniverse LEGO Fan Experience

Fans of LEGO need to get to Monona Terrace on either Saturday or Sunday to participate in the amazing fan experience. You’ll enjoy LEGO attractions and hands-on activities. Check out the fabulous LEGO creations and build one of your own. Guest speakers will be on hand and vendors will be selling LEGO sets, figurines and more. The event runs from 10 a.m. until 4 p.m. on both…

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Dejected: That feeling you get when you finally find a home you want to purchase and your agent tells you that there are multiple offers on it. You’re not alone; there are plenty of dejected homebuyers in the current Madison real estate market.

Here it is only June and yet the nation’s housing market is hotter than July. And, although buyers across the country are having a tough time of it, they should be thankful they aren’t looking for a home in Madison.

After all, they have about 103 days to look before homes are snatched up, according to The Capital Times’ Lisa Speckhard. Here in Madison? Move quick because homes priced less than $250,000 are being scooped up within 10 days of being listed.

By the way, although this is bad news for…

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Strong job growth, a confidence-inspiring economy and even the lowest mortgage interest rates in decades aren’t enough to boost home sales in Madison. Why?

Because there aren’t enough homes available to satisfy the demand. In fact, at the end of April (the latest month for which we have statistics), there were only 1,079 homes for sale in all of Dane County. This represents a 1.62-months’ supply of inventory. A 6-month supply, by the way, indicates a balanced market.

With supply and demand at work here, home prices are escalating quickly, while the number of closed sales are dropping.  How did we get here and what, if anything, can be done to ease the pressure on the market?

Interest rates beckon

Despite recent hikes, interest rates…

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Not to be snarky, but there are a whole lot of people who don’t work in the real estate industry who think they know everything there is to know about buying and selling a home – from the lending process to the closing. Most of them gleaned this vast knowledge base from having bought or sold a home in the past.

I’ve had my hair cut and car repaired in the past but still know little about the intricacies of either. Maybe it’s just me . . .

What real estate “experts” don’t know, however, could end up costing them, dearly. Do yourself a favor. When you’re working with a real estate agent, use him or her for all he or she is worth. Pick their brains, down to the last bit of gray matter. If in doubt about anything, ask, regardless of how “stupid” you…

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