Madison Wisconsin Real Estate News

Middleton WI ranks No. 4 for "2009 Best Places to Live"

Middleton WI, dubbed "The Good Neighbor City", was ranked No. 4 this month in Money Magazine's 2009 Best Places To Live for towns and cities with populations between 8,500 and 50,000 (Middleton's population is currently estimated at about 16,900). Located just 7 miles from thriving Madison WI, Middleton ranked No. 1 in 2007 for cities with populations under 50,000 and No. 7 in 2005 for cities with populations of 14,000 or more. Middleton's largest employers include the U.W. Foundation and medical research development firm PPD thus helping Middleton maintain an unemployment rate significantly below the national average at 5.9%. Since winning the top spot from Money Magazine in 2007, Middleton has added several important developments, most notably Greenway…

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$10K price drop on killer short sale fixer opportunity

Folks, this has got to be the best short sale fixer opportunity I have seen to-date! $129,900 for all this:

Enormous 3-4 bedroom, 2.25 bath Mediterranean style home featuring an open layout including large living room with oak floors, eat-in kitchen, two full baths on the main floor, mudroom, finished walkout basement with 4th bedroom and bathroom, and a gigantic walkup attic. And if that weren't enough it sits on a whopping .52 acres less than five minutes from downtown! Want more? How about a 700 square foot 2-car detached garage in addition to the attached 1-car garage? Talk about being spoiled for choice for storing your RV, gardening implements, equipment, workshop, or home-based business! Note also that each side of the detached garage has its own…

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Madison Semi-Annual Real Estate Roundup

The following market summary pertains to single family homes in Madison WI for the first six months of 2009 vs the first six months of 2008:

Listings of single-family homes in Madison were down 12.6% for the period January through June of 2009 vs. the same period in 2008.

Sales of single family homes in Madison were down 14% for the period January through June of 2009 vs. the same period in 2008.

The average sales price for a single family home in Madison from January to June 2009  was $224,572 vs. $247,378 for the same time period in 2008 (down 9.2%).

The average DOM (number of days on market) was virtually unchanged at 79 for the first six months of 2009 vs. 76 days for the same period in 2008.

The above data pertains only to single…

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Madison WI ranks 8th for Retiring Entrepreneurs

In May 2007 Madison WI was ranked one by Kiplinger’s Personal Finance magazine as one of the “Best Cities for Empty Nesters”. As a sign of the changing times, there is now a list of “Best Places for an Entrepreneur to Retire” and, you guessed it, Madison made the list at #8.

According to a recent study by the Kauffman Foundation, the world's largest foundation devoted to entrepreneurship, the highest rate of entrepreneurial activity during the past decade was among people aged 55 to 64. Those aged 20 to 34, on the other hand, were the least likely to start their own businesses. Dane Stangler, a senior analyst at the Kauffman Foundation and author of a recent study published by U.S. News & World Report, thinks that the number of baby boomers starting…

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Things to do in Madison

The travel section of the New York Times just published a wonderful article, if not a tad ambitious, about the variety of fun things you can do in a mere 36 hours in Madison, WI.

The hard-driving itinerary consists, among other things, of: a tour of Camp Randall Stadium, visiting the Memorial Union Terrace on the U.W. Madison campus; sampling Wisconsin cheeses or local culinary delights at one of several ethnic restaurants and dining spots featuring organic, locally grown food; exploring Madison’s many bike paths; getting to know Madison’s famed architect Frank Lloyd Wright by touring Madison’s beautiful Monona Terrace civic center (and taking in the city’s best water views from its roof garden and café); grooving to some live music at one of several…

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Why new appraisal rules are hurting the housing market

There have been increased problems related to appraisals in recent months. On May 1, Home Valuation Code of Conduct (HVCC) rules were adopted regarding mortgages that will be owned or guaranteed by Fannie Mae and Freddie Mac. Based on what we are experiencing as of late, I am concerned that the rules could delay or actually eliminate a number of potential home sales. In addition, the rule changes are costing consumers where they can least afford the extra expense.

What is HVCC? HVCC is where the federal government is requiring there be a "break" between the person working the loan and the person doing the appraisal.  In theory this is a good idea because it makes it difficult for a lender and an appraiser to be working together to commit loan fraud. It…

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Wisconsin Goes Smoke-Free

Yet another reason to breathe easy in Wisconsin...

In a bipartisan effort in May 2009, the Wisconsin Legislature passed legislation that will make all bars and restaurants in the state smoke free. The law will go into effect in July 2010.

“Now, Wisconsinites will be able to enjoy a night out or a meal with their families without breathing in dangerous secondhand smoke,” said Bruce Speight, WISPIRG advocate.

For the past year and a half, WISPIRG has built public support for this measure and exposed the false claims of Big Tobacco that smoke-free laws are bad for the economy. In 2008, WISPIRG released a new report which found that communities and states that had gone smoke free had not experienced negative economic impacts.

WISPIRG supporters rallied with Lance…

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Lake & City Homes adds WalkScore to website

It's well established that walking offers better health, fewer greenhouse gases, more transportation options (e.g. bicycling and busing), increased social interaction with family and neighbors, and stronger local businesses. So in its effort to match people with Homes that fit their lifestyle, we at Lake & City Homes are proud to announce the addition of WalkScore to LakeandCityHomes.com. We simply love that WalkScore ranks thousands of neighborhoods all over the country to help you find a walkable place to live. So we decided to integrate that functionality into our search capabilities and more. Here's how we do it (so far):

Search for "highly walkable" homes 

A "Walk Score Minimum" field has been added to our MLS Search so you can search for homes…

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Feds reverse reversed ruling to assist 1st-time buyers

OK - follow the bouncing ball....
 
The FHA initially indicated they would allow the $8K tax credit to be used towards a down payment.
 
Then they reversed that decision and decided to NOT allow it.....
 
But it appears they have now reversed their reversal and once again WILL allow it......at least for today!

Below is a copy of the Mortgagee Letter from FHA dated 5/29/09 which outlines how they will allow this to work, and if you ask me it is typical "government-ease" for language and the requirements to follow seem to me to very complicated to the point where I wonder how many lenders are going to want to meet those requirements, ie: validating all eligibility requirements for the tax credit are fulfilled and review previous tax returns and IRS tax…

2014 Views, 6 Comments

Kiplinger ranks Madison WI #7 among "2009 Best Cities"

The July 2009 issue of Kiplinger's Personal Finance magazine has published a "2009 Best Cities" list in which Madison WI is ranked #7. According to Kiplinger.com, the list focuses on cities that can boast stable employment including the talent to create new, well-paying positions explaining that it is these cities' robust job markets that make them "safe havens" during the recession and which should give them a "head start toward growth" when the recovery takes off.

Martin Prosperity Institute research director Kevin Stolarick evaluated U.S. cities for their growth potential, looking at the overall number of jobs, quality of positions, and the ability of cities to retain those positions when the economy slows. Says Stolarick, "Although downturns are felt…

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