https://www.realtyexecutives.com/office/janesville

Buying or selling with Mary, Janesville, WI (2026)

07/14/2022

Speculation about a possible housing bubble took full bloom this spring homebuying season.

And talk of bubbles inevitably leads to the question of whether the bubble will pop with a crash or more gently ease back to earth in a modest correction.

As the Federal Reserve's decision to raise interest rates from their near-zero levels propels mortgage rates to levels not seen in nearly thirteen years, it's put additional pressure on housing costs. Data from Freddie Mac shows the average rate on a 30-year fixed-rate mortgage is now up more than 2 percentage points from the end of 2021.

With housing affordability sitting at a decade low, the homebuying frenzy that rocked the real estate market is beginning to fizzle — and that means a larger shift is looming.

"After little movement the last few weeks, mortgage rates rose again on the back of increased economic activity and incoming inflation data," Sam Khater, Freddie Mac's chief economist, said in a statement. "The housing market is incredibly rate-sensitive, so as mortgage rates increase suddenly, demand again is pulling back."

As homebuyer demand wanes, either one of two things can come next: a correction or a crash.

The former would entail a gradual drop in prices to more sustainable levels, whereas the latter would result from either a rapid drop in prices triggered by widespread panic from homeowners and investors or a wave of foreclosures.

However, with homeowners now leveraging more than $9.9 trillion in home equity and
mortgage lenders
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Enforcing strict standards, it's unlikely the real estate market is heading towards a crash — especially the likes of 2008.
This isn't the housing market of 2008

The COVID-19 housing market is drawing many comparisons to the real estate market of the mid-2000s, but the two periods couldn't be more different.

"This is not the same market as 2008 . It's no secret the housing market played a central role in the Great Recession, but this market is just fundamentally different in so many ways."

The housing bubble that led up to the 2008 crisis is attributed to a combination of cheap debt, predatory lending practices, and complex financial engineering that resulted in many borrowers being placed into mortgages they could not afford. The situation triggered a foreclosure crisis among homeowners and a credit crisis among the investors who owned bonds backed by defaulted mortgages and birthed a global recession
What is a recession? How economists define periods of economic downturn
A recession is a period of economic contraction in a country's business cycle. Here's why and how they happen.

In 2022, the real estate market is in a much better position. Almost all American households have rebuilt their nominal net worth to pre-recession values and lending standards have tightened while home values have soared.

However, despite the market's improvement, there still remains a great imbalance between supply and demand. But as buyer demand declines amid soaring costs, it's easing competition — and that could mean a correction rather than a crash is on the way.

The real estate market is bracing for a 'soft landing'

As home buyer demand falls, the real estate market is approaching a slowdown.

According to the Census Bureau, U.S. new-home sales have declined every month in 2022, and in March, they fell to a four-month low — highlighting the impact soaring borrowing costs are having on potential buyers.

"Higher mortgage rates along with the really strong home price appreciation create affordability challenges for many homebuyers and that's going to slow the market down," Mark Palim, Fannie Mae's deputy chief economist said We already have a slowdown in both home sales and the rate of home price appreciation.
According to real estate database Redfin, 12% of homes for sale had a price drop during the four weeks ending April 3, up from 9% in 2021 and the highest share since December. But by May, the amount of sellers who had dropped their listing price climbed to 19%, representing the highest rate Since October 2019.

"Rising mortgage rates have taken a notable bite out of demand," Daryl Fairweather, Redfin chief economist, said in a statement.

Doug Duncan, the chief economist of Fannie Mae, thinks the housing market is bracing for a "soft landing."

"Mortgage rates have ratcheted up dramatically over the past few months, and historically such large movements have ended with a housing slowdown," Duncan said in a statement. "Consequently, we expect home sales, house prices, and mortgage volumes to cool over the next two years."

As the real estate market cools, the fundamentals that supported its growth — like record high home prices and home equity — are likely to keep it relatively healthy. This could mean a correction rather than a crash is on the horizon.
We've skipped a key phase in the typical real-estate cycle — and next up is a recession

02/04/2022

Selling your Home and those Two Little Voices

When you’re shopping for a new car or anything else that impacts you personally, you probably have two little voices chatting in your head. The first is saying, “This is what I want.” The second is asking, “Can I really afford this?”
Ideally, both voices are in agreement and you’re able to buy what you want at a price that’s reasonable. Of course, there are other times when you’ll need to compromise on some features in order to stay within your price range.
This same dynamic plays out when you’re thinking of moving. You may start wondering, “Is the type of house I want to get into really within my price range?”

In fact, that question holds many homeowners back from even considering a move. They’re stuck wondering if they can get into the home they want.

If you’ve been wondering the same thing, why not find out? It’s relatively easy.

The first step is to calculate how much your current property would sell for on today’s market. That figure is determined by many factors, but it’s mainly driven by what similar properties in your area have sold for recently.

Once you know what you can expect to get for your home, you’ll need to find out how much of a mortgage (if required) you qualify to receive.

The final step is to take a look at current listings in neighborhoods you’re targeting and see which properties for sale fit within your budget.

You might be pleasantly surprised to discover that the two voices in your head are in agreement, and you can get the home you want at a price you can afford.

02/04/2022

Should You Replace your Windows?

Here’s a surprising statistic. Less than 30% of window replacements are the result of the old windows being worn, broken or otherwise in need of replacement.
Clearly, there are other good reasons to consider new windows!
One of the most popular motivations is cosmetic. Brand new windows have a huge impact on the overall look of a home, both on the inside and the outside. New windows can improve curb appeal — an important element when you sell a home. From the inside, new windows can dramatically improve the look of a room.

Another reason to replace windows is to address energy costs. Modern windows are packed with technologies that lower heating and cooling bills. From low-e/argon to special spacer bars to highly insulating options, window technologies can provide savings you’ll notice, especially if you’re replacing very old windows.

A third reason is window style and characteristics. Simply put, you may not like your current windows! You may want more glass and less frame to enhance your view. Maybe your windows pull up (vertical sliders) when you’d rather have them open like a door (casements). Perhaps you’d like fancy blinds in-between the panes of glass. Replacing windows lets you get exactly the look and features you want.

Will new windows boost the resale value of your home? They might, at least a little. But there’s one thing for certain: upgraded windows definitely make your home look more appealing to buyers.

How to Get the Buyer’s Perspective on your Property

When you walk through the front door of your home, you have a very different experience than a buyer would. You see the familiar. You see the memories. You see your life. In fact, you might even wonder why anyone would hesitate to fall instantly in love with your home.
Buyers, however, don’t have that same perspective.
When they walk through your front door, they see a place they’ve never been before. To them, it’s a stranger’s home. They’re looking at your property with a critical eye.

They’re asking questions like, “Is the living room large enough? Do we like the feel of the place? Is it move-in ready or do repairs and improvements need to be done? Does it feel spacious or cramped? Neat or cluttered?”

So, when preparing your property for sale, it’s important to analyze it from a buyer’s point-of-view. A good exercise is to pretend you’re a buyer and walk through your home, starting at the entranceway. Ask yourself “buyer questions” as you visit each room.

For example, when you see the kitchen, from a buyer’s perspective, what do you like about it? What do you not like? Do the same with the other rooms and spaces in your home. Imagine, as the buyer, noticing clutter, needed repairs, poorly lit areas, and rooms that feel small and confining.

Also, of course, notice those features that would likely impress a buyer, such as a modern ensuite bathroom or new and stylish kitchen appliances.

Once you’ve done that exercise, you’ll have a clearer idea of what you need to do to make your home look its best to buyers.

Remember, an interested buyer is more likely to make a good offer on a property that “shows” well.

12/03/2021

Showcase your Home With the Right Lighting

The top retail store chains invest heavily in creating just the right lighting to make their products look great. Why? They know that lighting makes a measureable difference to sales.
The same is true when you sell your home. Lighting can make a big difference in the impression your home has on buyers.
There are two types of light sources, manufactured and natural. You need to consider both when staging your home for sale.

Think about the mood you want to create in each room. For example, you might want the kitchen to seem bright and alive. If yours isn’t quite like that, check whether you are using the highest wattage light bulbs suitable for your fixtures. Also, look for ways to bring in more sunshine. Switching curtains for blinds might do the trick.

In the living room, you might want a cozier feel. That can be accomplished by using lamps that cast a softer and gentler light than more imposing overhead fixtures.

11/22/2019

MADISON, Wis. — The third quarter ended on a positive note as both September home sales and median prices increased above their levels a year earlier, according to the most recent analysis of the monthly existing housing market by the Wisconsin REALTORS® Association (WRA). Compared to last September, home sales rose 5.2 percent, and median prices increased 5.4 percent to $195,000. On a year-to-date basis, home sales lagged behind the first nine months of 2018 by just 2 percent, and median prices were up 7.3 percent to $198,500.

“We definitely saw an uptick in sales in September with every region of the state experiencing growth,” said WRA Chairman Steve Beers. The West and Central regions grew the most with existing home sales up over the last year by double-digit margins, ranging from 11.9 percent to 14.8 percent. The other four regions saw more modest growth of existing home sales, up between 1 percent and 5.3 percent over the last 12 months. “It was good to see new listings improve, which allowed us to improve the gap we had in sales between the first three quarters of this year compared to last year,” said Beers. Through the first eight months of the year, the state was 3.2 percent behind the pace of last year; and now through nine months, the state only lags 2018 sales by 2 percent. “It will be tough to make up enough ground in the remainder of the year to surpass last year’s sales totals, but the economy remains solid, so we should be close,” said Beers.

“The economic fundamentals remain healthy in the state, which continues to put upward pressure on housing prices,” said WRA President & CEO Michael Theo. The statewide seasonally adjusted unemployment rate stood at 3.2 percent in September, which indicates that the state economy remains at full employment, and the combination of relatively low inventory and solid demand pressure has kept prices moving up at well above the rate of inflation. The annual headline inflation rate has only hit 2 percent once this year, and it has ranged between 1.6 percent and 1.8 percent since May. In contrast, the annualized growth in the median home sales price has only fallen below 5 percent once this year, which occurred in January. The rate of home price appreciation was more than three times that of inflation in September.

“This has been an amazing expansion, and we hope that it continues, but after more than 10 years of growth, the economy is facing some headwinds,” said Theo. Ongoing trade disputes have hit key industries both directly — for example, fewer exports of agricultural products — and indirectly — for example, higher costs of raw materials for manufacturing and construction sectors. Wisconsin is starting to see some early signs of a moderating economy, with the state unemployment rate increasing slowly in each of the last four months, after dropping to a record low of 2.8 percent in March and April. The number of unemployed has increased as the number of jobs has declined since May of this year. “We still think the economy is likely to grow in 2020 but probably at a slower pace than the last couple of years,” said Theo.

Theo noted, however, that there is a bright side to slower growth. “We’ve been in a strong seller’s market for several years, which has kept inventories tight and pushed prices up, making it difficult for some qualified buyers to find a home,” Theo said. “Moving to a more balanced market would be a good thing for buyers,” he said. But for now, the market remains tight, so working with a REALTOR® who is experienced and who knows the market as well as getting pre-approved for financing is still the key to success.

11/01/2019

The Importance of Pre-approval Letters

When you are preparing to buy a house, it is an excellent idea to talk with a mortgage planner from Fairway Independent Mortgage Corporation before you start looking for your new home. We can help you discern how much you can afford and issue you a pre-approval letter. A mortgage pre-approval letter is a written statement from Fairway stating that you should qualify for a particular mortgage program up to a certain loan amount, but it does not guarantee your loan.

There are many reasons why your home hunt can benefit from being pre-approved for your mortgage loan before you start your search:

A pre-approval letter helps you understand how much home you can afford. We will talk through your financial goals and discuss the best options available.
A pre-approval letter proves to real estate agents and sellers that you are a credible buyer. Some sellers may even require a pre-approval letter to be submitted with a home offer.
A pre-approval letter can help you stand out in a competitive market. If you submit an offer on a home against someone who is not pre-approved, your offer will likely be taken more seriously.
Since your verification documentation will already be in place, a mortgage pre-approval should help speed up the process once you make an offer on a home.
I would be happy to meet with you soon to plan the next steps toward your new home purchase. In most cases, pre-approval letters are good for 60-90 days, so let’s start you on your way.

Jason M. Weber
Mortgage Loan Originator
NMLS # 631944
Licensed in GA, IA, IL, MI & WI
Phone: (608) 807-5260

4750 S Biltmore Ln
Madison, WI 53718

10/29/2019

Measuring Success One Family at a Time

Mary is a recognized and respected real estate professional in the South Central Wisconsin Real Estate market. She has been actively selling Real Estate for many years, receiving numerous awards during her career.

Mary is a member of the National Association of Realtors, Rock Green Realtors, and the South Central Wisconsin Multiple Listing Service. Serving Rock, Green, Dane, Jefferson and Walworth counties; she has developed referral partnerships with Realtors throughout the state of Wisconsin as well as throughout the U.S..

Mary has a strong understanding of local and state grant programs and prides herself on finding the best programs to suit her clients needs. She has committed herself to outstanding service in making the real estate experience a successful one. Through a working knowledge and continuing education, she maintains the tools necessary to provide each and every client and customer with the outstanding service they deserve.

Buying or selling with Mary

07/14/2022

02/04/2022

02/04/2022

12/03/2021

11/22/2019

11/01/2019

10/29/2019

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