Spring has Sprung

Spring is HERE!  The weather has completely changed when 30 days ago we had a large winter storm and now it is consistently 60-70 degrees outside.  Our allergies are early, flowers are blooming and trees are sprouting with new life.  I have even witnessed several diligent home owners cutting their lawns!!!

With this new season coming sooner than expected, the activity in real estate in Dane County has bloomed as well, especially in Madison and surrounding areas.  Sales are up over 15% while median prices remain slightly below January and February sales were in 2011.  Inventories all over the county for Single Family homes are down over 8% from last year.  With the increased demand starting earlier than normal, inventories decreasing and rates around 4%, this is turning out to be a hot start to Spring in 2012!

For a good read and full statistics please read: http://scwmls.com/public/stats/stat_search/monthly_composites/2012/monthly_stats_february_2012.pdf

I don't want to have any misconceptions to the last paragraph.  Please don't  believe it is turning into a sellers market, as we are a long way from this point.  Currently most price ranges are sitting with 11-30 months of absorption.  This means that if we added no more listings to the pool of homes available, at the current pace homes are selling, it would take 11-30 months to sell all of the homes.  The range of 11-30 months is coming from a price range of $100,000 to $1,000,000+ single family homes and condos.  A "normal" real estate market is 8-10 months of inventory.  This is close in only one price range: $100,000-$149,900 homes and condos.

It is still a buyer's market as a whole, but some pockets in the Madison Metro have felt like a seller's market with multiple offers, higher than asking price bids and quick sales!  Make sure you talk with a professional Realtor about the market in your area, so you can get a clear picture of the market, and how your home fits in that market.  We all want the most money out of our homes when we sell it, the best way to understand it is to educate yourself on the market around you and lean on a professional to help you through the pool of information and endless possibilities.

Have a great Spring!

Historic Loraine Hotel Condo In the Heart of Madison

123 W. Washington Ave #505, Madison, WI

It is extremely fun to list homes and condos.  Especially historic properties like the Loraine Condo.  

The condo has almost 1300 sq. feet of living space, open and spacious floor plan has maple hardwood floors & cabinets throughout. Large kitchen with granite counter tops, breakfast bar & ample counter space for food preparation. Open concept living w/ dining, living & kitchen open to each other is made for entertaining. Fireplace in the living room. Master suite has 3 closets with one of them a walk-in. Dual vanity sink, linen storage, shower & soaking tub. Workout facility, common areas and open air terrace to share and use anytime.

www.firstweber.com/1644683

The Loraine was originally conceived in 1922 by Milwaukee hotelier Walter Schroeder as a 250 room hotel. Architect Herbert Tullgren designed the Tudor Revival structure and construction was completed by June, 1924. Hotel Loraine (named after a niece of Mr. Schroeder who died during the course of construction) was so popular that a 100 room addition was completed one year later in 1925.

Hotel Loraine was the largest and arguably the most prestigious hotel in Madison. At an initial cost of $1,100,000, Hotel Loraine was the most expensive commercial building in Madison. Its prominent location on the site of Henry Proudfit's home provided a seamless link between the affairs of Wisconsin's government at the State Capitol and the academia at the University of Wisconsin.

Hotel Loraine was renowned for its grand lobby, exquisite dining, and the fabulous Crystal Ballroom; site of many debutante balls, wedding receptions, and Madison's largest social functions.

Hotel Loraine hosted numerous notables during its history including Ethel Barrymore, Gloria Swanson, Mae West, Harry Truman, and John F. Kennedy.

The Schroeder family operated Hotel Loraine until 1968 when the structure was converted into office space for the State of Wisconsin.

The Department of Justice most recently occupied The Loraine Building until its new building was completed in October 2001.

The new millennium has brought new life to The Loraine. The City of Madison designated the building a national landmark due to its history, location and architectural significance. Furthermore, this gem of a building has been carefully restored and masterfully renovated back to residential use as luxury condominiums.

Office/Den or Ample space for a guest suite

Office/Den or Ample space for a guest suite

Full Bathroom with Shower Stall

Maple Hardwood, Tray Ceiling and Fireplace

Stackable Laundry

Granite and Stainless Steel Appliances

Master Suite leading to Closets( 3) and Master Bathroom

Shared Outside Patio

Common Area Terrace-Open Air with Grilling Station

Common Gathering Room

Lobby Entrance

Mail and Lobby 

Updated First Weber app for iPhone, iPad, iTouch and all Android devices

New First Weber App on iOS and Android

With all of the tools out there to help you see the homes that you want, when you want, you need to check out the updated First Weber app on the app store.  The Android version will be available by the end of December for release.  

I am going to go over the new features and new tools to help you understand the market and get tons of details on any home that is listed on the MLS.

First Weber app allows for the following inside the app:

• Automatic location based search: your location is immediately found when the application is opened and all of the properties around that location are shown.  You can filter the search by different criteria.  Use the + sign to select different criteria, map style or life style points of interest.

 

• At the bottom, the circle is the ability to draw an object to save an area. It will show you the active and sold properties located in the area that was drawn, show you stats and allow you to save it if you want to see it anytime in real time!  All of this can be synced with your My First Weber account that is free on www.firstweber.com

 

•  If you find a property that you like, click on it and find out the details.  You can share the listing, save it as a favorite( syncs with your My First Weber account), request a showing and even call, text or email the listing agent about this property. 
• You can view the details fully by clicking on details.  
• Get directions on your phone to get to the property that you like.
• If you turn the phone or tablet sideways, you will see the photos in landscape view.

 

 

 

• As a  note, if you are working under Buyer Agency with any company, please contact your agent about wanting more information or a showing on any property. 
• The next area that you can click on is the First Weber logo in the bottom right hand corner.  
• There you can start a new map search to search any where in the entire state of Wisconsin!
• Go to your saved map searches 
• View your favorites
• See the homes that you have recently viewed
• Sign into your My First Weber account to sync all of your information
• or Find an agent in the directory

Another reason that First Weber is your source for buying and selling real estate.  We are committed to the latest tools and technology to help you in your real estate goals.

Happy Searching!