Wednesday, July 27, 2011

Wexford Village--A Balanced Market

A balanced market on Madison's West Side is Wexford Village. The neighborhood developed almost 40 years ago and expanded about 20 years ago is showing its ability to remain a highly attractive destination. Sale prices range from $250,000 to $328,000 with out of the ordinary sales on both ends--one at $205,000 and another at $375,000. 

The average last asking price for homes sold in Wexford is $302,150. The average sale price of the 8 sold homes is $290,000.  The 8 folks who are still looking for buyers are averaging an asking price of $322,048 and that includes two homes at $385,000.

The eight sold this year and eight for sale with homes priced from low $200's to upper $300's looks like a healthy mix of home opportunities.

Tuesday, July 19, 2011

Lake Mendota Drive to 1845 Baker---- 66 feet on Lake Mendota


When we open this modest home to the public on Friday I think we will find there are people who will be interested in considering making an offer. There is nothing that has to be done, but plenty of opportunity to remodel from the minor to the extensive renovation. I'm not seeing this as a "tear down", but more likely a renovation opportunity. The 1800 sq ft foot print is well suited for open space facing the lake, privacy, and spacious bedrooms. A two car garage is already in place.

We arrived at the reasonable price of $575,000 by concluding the cost of getting a lot on Lake Mendota is about $400,000. Our 66 ft wide lot is definitely more appealing than the narrower lots on Middleton Beach Road, and far superior to any lot on Spring Harbor. We estimate the land value to be about $450,000. We gave the house a value of $125,000.

I'll have a summary of the work the owners contracted for to prepare the house for showings. Let me know if you want to be one of the first to visit. We can set up a showing for Friday, Saturday, or Sunday. Open house is Sunday from 1:00 to 3:00.

Tom 332-8331

2666 Norwich St 1, Fitchburg

2666 Norwich St 1, Fitchburg: "$25,000 in improvements since 2010: Renewal by Andersen Doors & Windows. New furnace. New A/C. Tile, vanities, kitchen counters & flooring. Zero Condo fees! Spacious main bedroom with extra closets. Recreation room in lower level has a full bath. Dining Room opens to a deck & fabulous yard with room for garden and play. All appliances, even front loading wash machine & dryer & butcher's block kitchen island included. Quick closing possible."

Staying in the Verona and Fitchburg School District is affordable and easy by owning this Townhouse. Quiet location and close to the Elementary and Middle School Campus.