Madison WI Real Estate Blog

This Month in Real Estate: August 2015

While August homes sales in Dane County did not set records like June and July, the 713 sales are slightly more than 2014, keeping the year-to-date total 13.8% ahead of last year in Dane County, the South Central MLS reports.

The median sale price in Dane County rose 5% for the month and is 4.6% higher for the year compared to last year ($230,000 vs. $219,900). Prices continue to show strength from the recessionary lows.

In August a total of number of active residential listings was 2,620, a 18.2% increase as compared to last month with a median listing price of 270k. Dane county home values have gone up 2.0% over the past year and are predicted to continue to rise. The median sales price for homes in Madison WI for June 15 to Sept. 15 was $215,000. This is an increase of 1% compared to the prior quarter and an increase of 3.9% compared to the prior year. Sales prices have appreciated 5.1% over the last 5 years in Madison. Average price per square foot for Madison WI was $138, an increase of 4.5% compared to the same period last year.

Buyers and sellers are encouraged to take advantage of the conditions in the market place – especially as mortgages continue to be available at very low rates. Mortgage rates have moved in a very narrow range, hovering just above or below 4% for most of the year. Average contract interest rate for a 30-year fixed-rate mortgages decreased from 4.10% to 4.09%, with points increasing to .42 from .39 reports CNBC.

For information about current market conditions, or to discuss the right time for you to buy or sell a house, contact Josh Lavik & Associates at 608-620-4234.


Wondering how to make your home more energy efficient? Do this!

Home Performance with ENERGY STAR

On July 9th 2015 Stephen Pipson of TDS Home Performance conducted a Home Performance Assessment Report for Josh Lavik's house. Josh's family was noticing the impact of paying over $300 for one month during winter and with their growing family, felt it was necessary to take steps for a more safe and efficient home. The assessment included a blower door test with thermal imaging, combustion safety and ventilation testing plus a full physical inspection of the home to determine where the air leakage is occurring.

Another benefit of doing the energy assessment is because Focus on Energy is offering various reward incentives. Prior to the energy assessment Josh said, "I heard that there might be some tax credits or something out there but didn't know exactly how much or where to find it. Obviously that was a factor in our decision to do this now rather than wait." Then a quick search on the Focus on Energy website reveals that they have "Helped Wisconsinites save energy and money since 2001".

The report of the Lavik's home received notes of the current condition and then advises of the best plan of action for the specific areas. The recommendations for the Lavik's home included: correcting water heater venting issues, air sealing and insulation added to side and upper attics, air sealing the garage from the house, upgrading ventilation and insulating the sill boxes. By fixing the issues defined by the TDS Home Performance Assessment, the Lavik's can plan on enjoying the comfort change and utility savings.

Interested in your own home energy audit? Then check out TDS Home Performance or contact your local trade ally.


VA Approved Condos

Yes! You can still get financing these days!

Thank You so much to the Veterans who have worked so hard. We want to return the favor and help you find your dream place. They are out there just waiting for you. If you're searching for a condo and want to know which ones are VA approved look no further!

Josh Lavik and Associates has dealt specifically with VA loans and we want to help you during this process. Please feel free to contact us with any questions or concerns and we will be happy to assist you.

This month on CW57's Real Estate news Josh discusses other home financing options that are available, including NO MONEY DOWN programs! Check out the video below and keep updated with Josh's monthly segments for more information about real estate topics and trends.


Take a look at what's happening in the world of Real Estate!

Josh Lavik will now be featured on CW57's Real Estate news for Keller Williams. Keep updated on monthly trends and topics with his videos, if you missed his latest don't worry we have it here:

Check your local listings to watch him next time!