Mt. Horeb Area Real Estate Blog

Weekly Special

I get tired of talking real estate sometimes, so today I'm starting the weekly tradition of  blogging about my favorite things (aka stealing from Oprah).

My favorite thing today is Bistro 101.  It's a newer restaurant in Mt. Horeb, and I'd really like to see something of this caliber stay in town.  And here's why:

1) Wine Pairing Nights.  Think of it as Wine 101.  Enjoy 4-5 amazing mini-dishes paired correctly with wine.   Next one is November 11th. 

2) Happy Hour that includes wine and not just taps and rail drinks.

3) A great menu that doesn't include a burger or anything deep fried (well, they do serve chips).    Every week they have a main course special, a flatbread special, a pasta special and a panini special in addition to their regular menu.  This week's main special is a Chicken Pot Pie puff pastry.

4)  Special events like a open mics, wine and cheese tastings and holiday parties.

5) Owners and managers dedicated to Mt. Horeb and creating something special.

This is not to say that other great restaurants in town do not have some of these things.  When I write about the best burger, breakfast, bakery or Grump chips, they too will have their turn in the spotlight.

For more information on Bistro 101 visit www. hoffbistro101.com or  to get on their special mailing list email events@hoffbistro101.com

Do you want the HOUSE or do you want the PRICE?

Many sellers (and Realtors) in Madison and the surrounding area (Mt. Horeb included) get the picture. They understand that prices are down.  They understand that they aren't going to make a mint. Some even realize they will have to come to closing with cash.

Therefore, not every house on the market is overpriced. Many sellers have priced their house correctly. Not every house deserves a lowball offer.

Hang on and enjoy your ride

Lots of people want to talk mortgage interest rates these days.  You'd likely have to ask me every 20 minutes sometimes to get an accurate response and different lenders are likely to quote different rates.  It's a rollercoaster ride for all of us.

Here's what I know for sure about interest rates (thanks to Wisconsin Community Bank):

 It all depends....on your credit score, on your debt to income ratio, on the down payment, on the type of property, on the amount of your cash reserves, on whether you are escrowing taxes or not, on your type of employment and the length of your rate lock.

If you want the "GOLD" standard interest rates that banks put on websites, you need to have a credit score of 720-740.  The rate increases as your credit score decreases usually anywhere from 1/8 to 1/2 of a percent.

The most important thing I learned from talking to the folks at Wisconsin Community Bank today is that with the recent scoring tightening, your credit score may have drastically changed if you were preapproved more than 3 months ago.  The lesson:  develop a relationship with a lender and stay in touch! 

Yes, Interest Rates are Up....

     

Interest rates were at 6.875% yesterday...Most are predicting them to get to 7% or slightly above before turning back down...

Read more here.

Kids in the House

If you have kids in your house that you are trying to sell, you know that their "stuff" is one of your top staging dilemmas.  Aside from getting the kids to keep their rooms clean, there are a few other selling strategies I suggest you employ.

1)  You must put it in storage.  I walk into homes exploding with toys.  Kids can't possibly play with it all.  Keep their favorites out and pack the rest away.  When you open those boxes at your new house, it will be like Christmas!

2) Actually have a kid friendly space.  If you think your home attracts young families with kids, putting away all evidence of children makes it hard for potential buyers to imagine where their kids will play.  I'm not saying to leave all the toys out in a toy room, but having a few keys child friendly clues can help a buyer visualize.  If you don't have kids, but again, but live in a "kid magnet" neighborhood", you may want to create this type of space also.

3)  For the kid stuff you do keep out...You will need to develop some hiding strategies in the main living spaces.  Decorative storage like wicker trunks and baskets or smaller boxes for quick hiding are good ideas.  Bad idea:  lots of rubbermaid dressers that you use as end tables in your living room. 

4) De-accessorize their rooms!  Too much stuff on the walls and dressers is distracting for buyers.  If your market is extremely competitive, I would argue to de-genderize the room too.  If a family of all boys is looking at a home with all girls...they immediately think of all the work they will have to do to get it ready for their boys.

I understand that all this is life changing and hard to do imagine if your home may be on the market awhile.  I can tell you it will be on the market a lot longer if some of these changes are not made!  Remember:  how you live in your house and how you sell your house are two different things! 

Mt. Horeb AREA Market Statistics for September

I know I promised you these on Wednesday, but I was waiting for homes that I know have closed to be mosted on our SouthCentral WI MLS system.  Those homes still haven't been posted but I'll give you what I have available to me.  As always, this information is deemed reliable but is not guaranteed. 

Furthermore, this information shouldn't be used in determining whether or not you should sell or buy or what your house may be worth.  This is simply an overall, general market snapshot.  There is more specific interesting information available  like:

In addition to what is listed below, Mt. Horeb has 11 additional homes with accepted offers and pending offers.  Of homes with accepted offers, pending offers OR sold, the price ranges look like this:

• Under $200K - 9
• $200-$250K - 1
• $250-300K - 2
• $300-$400 - 5

If you want a deeper or more specific look at your situation, never hesitate to call! 

VILLAGE OF MT.  HOREB

• 89 homes on market/ 5 sold 

• Ave Sale Price $234,400

VILLAGE OF BARNEVELD

• 20 homes on the market
• 0 Sales

VILLAGE OF BLUE MOUNDS

• 8 homes on the market

• 0 sales

CITY OF VERONA

• 61 homes on the market/ 3 sales
• Ave Sale Price $343,133

CITY OF MIDDLETON

• 75 homes on the market/5 sold

• Ave. Sale Price $354,113

VILLAGE OF CROSS PLAINS

• 13 homes on the market/ 1 sale

• $184,900