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From the Desk of Ron Restaino, Broker/Owner


DIP IN APRIL'S HOME SALES IS NO CAUSE FOR ALARM

It should come as no surprise that home inventory remains quite low and markets extremely tight. This has been a nationwide trend for roughly two years now and Wisconsin is certainly no exception. However, in a twisted sense of logic, home sales across the country kept increasing from year to year. It seemed unprecedented with few signs of changing. That is until this past April, 2017.

According to the National Association of Realtors (NAR), April's existing home sales fell as compared to April, 2016. Sales declined 2.3 percent nationally, to a seasonally adjusted annual rate of 5.57 million units. In Wisconsin, sales fell by 10.7 percent from the same time last year. News of this even surprised economists, who were predicting a much slighter drop, closer to the 1.1 percent range.

The year-to-year decrease in sales for one month is not a potential indicator that there may be trouble ahead. In March of this year, sales soared over the same period in 2016 despite the shortage of homes on the market. The surge of sales in March simply means the inventory just got a little tighter leaving prospective buyers even more stymied by the lack of available properties.

In all, this means now is the perfect time for potential sellers to list their homes. In Wisconsin, the limited inventory pushed median sale prices in April to $171,000, up 6.9 percent from April 2016. (In the greater Dane Country area, the median sale price saw a 5.1 percent increase to $200,000 over the same period last year.)

Another positive way to look at the dip in April's sales is to realize that despite the percentage decline, April's sales pace was the fourth highest in the past year. High consumer confidence and low mortgage interest rates are continuing to attract more and more buyers. Potential sellers should be reminded of these statistics as a motivator to add their homes to the inventory pool.

Know of someone considering selling but who just can't seem to get off the fence? Direct them to the many articles and market data available on our Restaino website (www.restainohomes.com). They will have access to all the tools to get them started, along with a full list of realtors at our seven Restaino & Associates offices throughout Dane County and Columbia County.

Ron Restaino

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Madison Nite
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From A Lender's Perspective...

According to SCWMLS (South Central Wisconsin Multiple Listing Service), Dane County continues to be below 2 months of active inventory for the fifth consecutive month. A six month supply of homes for sale is generally considered to represent a balanced market between buyers and sellers. The 1070 active listings at the end of April is the lowest total for Dane County in the SCWMLS records going back to 1997.

Because of this, buyers need to be prepared when they are shopping for a new home. One of the best ways to be prepared is to be pre-approved. Many buyers are mistaken that being pre-qualified and pre-approved are the same thing.

Pre-qualification is the initial step. The buyer provides information to their lender and the lender can give you an idea of the mortgage amount you qualify for. This is the amount you can expect to be approved for, but is not for certain.

Pre-approval is the next step. This is where the buyer completes a mortgage application. Typically a property is not identified yet, so the property information is left blank. You supply your lender with the documentation necessary to get approved. Typically this consists of income documentation (pay stubs and tax returns), and asset documentation (bank statements and investment statements). The lender will also do a credit check. You will obtain a pre-approval for a loan amount so you can go look for houses up to a certain purchase price. With this pre-approval letter, it shows the seller that you have done your homework and it will shorten the time frame for final approval once you find a home. There should be very few contingencies on a pre-approval letter. By doing this extra step, you won’t be overlooked by a seller who has other buyers with a pre-approval letter.

At Capitol Bank we offer no obligation pre-approvals. We have all types of loans to fit your needs, including Physician’s Loans. Give us a call to get started on your new home purchase today!

Amy Gile-Enge NMLS #586017
VP / Real Estate Loan Officer

710 N. High Point Rd.
Madison, WI 53717
Office: 608-836-4307
Fax: 608-836-1615
www.capitolbank.com



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Restaino Relocation Team

Pictured left to right:
Nadya Nahirniak-Hansen, Relocation Director
Miki Smith, Relocation Consultant
Gail Johnson, Corporate Relocation Manager

800-637-1178
608-395-3103

A Leading Global Relocation Division Assisting Candidates,
Transferees and Families Moving In and Out of the Madison Area

Restaino & Associates Relocation Division is a vital resource for your recruitment and relocation needs. Our dedicated team prides itself on assisting your recruitment efforts to acquire world class talent to grow your company.

Relo Event Photo
Pictured L to R: Gail Johnson, Cy Hakeman, Key Note Speaker, Nadya Nahirniak-Hansen

Recently, Nadya Nahirniak-Hansen and Gail Johnson attended the 11th Annual GMA SHRM Human Capital Conference hosted by the Greater Madison Area Society for Human Resource Management on May 3rd at the Alliant Energy Center.

The conference held record number of attendees that had a day filled with two key-note presentations, break-out sessions on multiple HR topics, and ended with a well-attended networking reception.

Restaino & Associates relocation division was the keynote lunch speaker sponsor.



What's Happening



Free Fishing Weekend in Wisconsin
Sat. & Sun. June 3-4, 2017

Visit Website

Cows on the Concourse
Saturday, June 3 from 8am to 1pm, Rain or Shine!
Visit two cow petting areas, try a grilled cheese sandwich, and learn fun dairy facts and more!
Downtown Madison, Hosted on the Capitol Square.
Visit Website

Dane County Farmers' Market
Every Saturday 6:15am-1:45pm
Capitol Square, Downtown Madison
A Madison Tradition! Vendors offer a bounty of the season's vegetables, flowers, meats, cheeses, and specialty products. All of the items for sale are grown, raised, and produced in Wisconsin by the person behind the stand.
Visit Website

Babcock Hall Dairy Store
Open Mon.-Fri. 7:30am-5:30pm, Sat. 11am-4pm, closed Sunday.
Casual dairy shop offering ice cream, cheese and cafe eats. Schedule an observation on how they make their great-tasting dairy products.
126 Babcock Hall, 1605 Linden Dr., Madison
Visit Website

Cool Off At a Local Pool or Splash Park
Many outdoor pools & area splash parks in the Greater Madison Area!
Click on the link for events, activities and listings of area schedules
Visit Website

Olbrich Botanical Gardens
Stroll 16 acres of outdoor gardens featuring stunning landscapes and Midwest-hardy plants. Outdoor gardens are free and open daily. Visit the website for events, concerts and sales.
Visit Website

Visit One of Madison's Local Beaches
Madison offers public beaches, with many supervised with seasonal lifeguard service.
Visit Website

Breakfast on the Farm
Saturday, June 10th ~Eat breakfast & enjoy games, music, dairy samples and more! Serving food 7:00am-11:30am at the Blue Star Dairy-Middleton, 5191 Vosen Rd, Middleton. Hosted by the Meinholz Family.
Check website for event admission fee, menu and activities.
Visit Website

"Shake the Lake" Summertime Festival in Madison
Saturday, June 24, 2017
Family-friendly events and activities along the beautiful Lake Monona. Enjoy an assortment of delicious food and beverages as well as live music, a roller derby game, bike polo exhibition and a show-stopping fireworks display.
Visit Website

Summerfest, Milwaukee
The World's Largest Music Festival June 28-July 2 + July 4-July 9
Some artist include: Luke Bryan, Red Hot Chili Peppers, Pink, Tom Petty & The HeartBreakers
Visit Website

Henry Vilas Zoo
One of the nation's only free zoos, over 800 animals and 200 species. Make sure to visit one of the featured exhibits: Arctic Passage!
Visit Website

Trails
Ice Age National Scenic Trail
Located entirely within Wisconsin, the Ice Age Trail winds for more than 1,000 miles and follows the edge of the last continental glacier in WI.
Visit Website

Madison Mallards
A collegiate summer baseball team based in Madison. Fun for the whole family!
Visit Website


How to Prepare for a Home Inspection

We are asked many times, What do we need to do so you can do an inspection? There are several answers to this question.
  1. Make sure that the all of the utilities are on (i.e. electricity, water, and gas service). We can't conduct a thorough inspection without all of these being on. Note: Home inspectors do not turn on breakers, open gas valves or turn on water valves or start fires in fireplaces, ignite water heaters or furnaces etc.
  2. Make sure that all accesses are readily available and un-blocked. Need access to attics, crawl spaces etc. Many times this is overlooked and access is blocked by storage items, vehicles in garages etc. If for some reason that access is blocked, then it would be noted in the report as such. If the client requested an area that the access is blocked inspected, and the seller was not available to move the items, the home inspector could go back to the property, time permitting and inspect the area that was previously blocked. The additional expense of this "return" charge would be the responsibility of the seller.
  3. Make sure that the inspector has access to get in. Whether if a Supra key is required. Many inspectors have these or the realtor has to open the door. The correct combination for the lockbox etc., or if other arrangements have been made with the home owner about having the door open etc.
  4. Pets. No one wants to have a problem. Typically, dogs need to be outside when the inspector is inside the home and inside when the inspector is outside. Many home owner's insurance policies are very strict about animals and responsibilities of the home owner.
  5. If a radon test is requested, that will be addressed in a future release.
For additional information, or to schedule an inspection, please call Jeff @ (608) 434-0790. Please visit us online at www.wiscons.net
Like us on Facebook https://www.facebook.com/WISCONs-Wisconsin-Inspection-Services-and-Consulting-189302411155031/


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Starion

Thompson Kane






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Restaino InBusiness Winner 2016






Restaino & Associates Relocation Division, 26 Schroeder Court, Madison, WI 53711 608-395-3103
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