Rock Realty is Back with an Update on the Markets

Episode Transcript

Speaker 1 (00:00):
Eight thirty seven, thirteen ten Wi b A and asked
the experts brought to you by Rock Realty Online, Rock
Wisconsin dot Com. That's Rock Wisconsin dot Com joined seon
this morning by mister Matt Heyman of Rock Realty. Matt,
How the heck you been? Man? Been good?

Speaker 2 (00:14):
How about you, Sean?

Speaker 1 (00:15):
That's great, It's good to see you. A little secret.
Last week's show was pre recorded. Where were you? What
were you up to? You were working just a way. Yeah,
I've been.

Speaker 2 (00:24):
We went to Utah. Realtor dot Com invites us out
on a yearly trip for their top brokerages and we
got to go learn a lot, learn about the economics
of things and what they're seeing coming forward. And yeah,
it was a good experience.

Speaker 1 (00:37):
And you mentioned the top brokerages for folks that don't
know Rock Realty. You guys. You guys sell and list
and work with a lot of people here in southern Wisconsin,
don't you. Yeah, we do.

Speaker 2 (00:49):
Yeah, we've had sales growth pretty much every year for
the last seventeen years in business.

Speaker 1 (00:54):
So amazing. That's awesome. Well, congratulations, good to have you
back too. And we've got to speak of growth and
what's going on here in southern Wisconsin. We're going to
break down the most recent market numbers. We'll also touch
a little bit on you've probably heard another lowering of
interest rates by the Fed. We'll talk a little bit
about how that can affect real estate and some really

(01:16):
really good things if you're looking to buy or looking
to sell, we'll talk with that about that. But first
and foremost beautiful home in Stoton and Stone is I
gotta say it's one of my favorite. I can't. I
would get in trouble if I would say my favorite,
But it's one of my favorite communities around this area.
It's got just so much. It's got the best of everything.

(01:37):
It's got small town charm, but it's got a little
bit of everything. It's near everything, it's got the lakes,
it's got the it's got beautiful parks, and it's got
this beautiful house for sale, three bedroom, two bath home
listing on Berkeley Court, right at seven to twenty five
Berkeley Court, Brickley, Bickley, excuse me, Bickley, Charles or William
Bickley right now.

Speaker 2 (01:57):
Is going prebow.

Speaker 1 (02:01):
Let's talk about this house at seven twenty five Bickley, Yeah.

Speaker 2 (02:03):
Yeah, No, I actually bought my first house in Stowe.
It was twenty two years ago, so I've loved it
ever since. But yeah, it's a ranch home. It's kind
of like that ideal house for pretty much anybody looking
for a three bedroom, two bath home. It's got the
two car attached garage. It's on a cul de sact
so you're not getting the through traffic. It's got a

(02:25):
great yard, just over a quarter acre, and it's got
a private backyard with some mature trees. Just a great home.
We've got three bedrooms on the main floor and the
master is really large, so it's got a large master's
got a finished lower level. Just a lot to offer.

Speaker 1 (02:44):
Then that explains I was wondering about because nineteen hundred
square foot that's a for a ranch. That's a pretty
substantially sized ranch. And you mentioned the back yard. Not
only is it woulded, but there's a fence out there
as well that you got a pupper, got some kiddos,
you want to keep track of them, It's perfect.

Speaker 2 (03:00):
For that, is exactly. Yeah, I know it's as an
ideal location. Listed at three ninety nine nine, so just
under the thirty thousand dollars mark and Uh, it was
recently remodeled, so we've got new paint everywhere, carpet, we've
got some new vanities installed, and a lot of other components.
So yeah, it offers a lot for the price.

Speaker 1 (03:19):
I think it's a really nice house. You can check
that out at Rock Wisconsin dot com. That's r O.
C K Wisconsin dot com. Listing agent on this home,
Matthew Hey Hei, Yeah, how is that? Do you get
that a lot by other people miss mispronouncing your last name?

Speaker 2 (03:34):
I mean it's like hetman hitmen. Ah, yeah, there's a few,
but uh most of them can get hypmen right.

Speaker 1 (03:38):
Yeah, it's it's, it's it. And by the way, that
is Matt. He is a listing agent on this you've
been looking to uh check this place out, call Matt
two day telephone number six oh eight three four seven
forty one ninety six. That's three four seven forty one
ninety six. Say Matt, I want to see that beautiful
house on Bigley Court and Stoton. Of course you can
check that out online as well at Rock Wisconsin dot com.

(04:00):
That's our Ock Wisconsin dot com. Let's talk about where
we stand here in both Dane and Rock County with
the with the market, and I think one of the
things that that kind of jumps out is where that
medium price is. We're still seeing growth in that area,
aren't we met Yeah.

Speaker 2 (04:17):
Yeah, I mean over the last few months we've been
talking about more of a leveling out of the market.
But yeah, price is just keep going up. So these
are September numbers. Wa took took a bit to get
the numbers out, so we had let's see, let's go
with the median price first. In Dane County, median price
was up three point eight percent, so it was at

(04:40):
four hundred and eighty thousand dollars. So the median house
is for eighty my stotent listens listing is only three
ninety nine and.

Speaker 1 (04:47):
That's in Dane County. A great deal. Yeah.

Speaker 2 (04:51):
In Rock County it was up twelve percent, so a
substantial increase. I believe the month before was a little lower,
so you know, it's probably an average out of it,
and it's up twelve percent to three hundred and seven
five hundred in Rock Country.

Speaker 1 (05:03):
Nice, great opportunity as too. As we talk about you know,
different price points and where where that median price is going,
it reinforces too. We talk a lot about you know,
working with whether it's working with you or other agents
at Rock real tea Mat working with that right agent
is is there are some fantastic opportunities out there for folks.
And again, whether you're looking for you know, maybe you

(05:23):
want to be right in the city, or maybe you
are interested in maybe coming out out of the city
a little bit into little suburbs and exurbs. There are
some really really good, good opportunities and reinforcing importance of
working with a great home. The other thing I look
at is we're not slowing down as far as listings either.
There's some great options out there for folks, isn't there.

Speaker 2 (05:41):
Matt. Yeah, we had five hundred and eleven new listings
in Dane County in September, so that was up ten
percent year over year, and then two hundred and fifteen
new listings in Rock County up six percent. So in
general we're seeing about four months of supply. I think
that you know, home, we are seeing some home price
reductions out there, but I think in general the median

(06:04):
price of a house probably is going to continue to
rise just a little bit until we get to maybe
that five to six months worth of inventory that's considered
more of a balance market.

Speaker 1 (06:16):
Does does some of this too as we talk about
you know, I mentioned that four months of supply and
kind of the ideal for the balance about about six months.
With that, with with where we are right now, I
do think that that people need to understand it's a
great mentioned earlier, it's a great time to be to
be both buying and listing, and and four months it's
that's a much better position than we've been in previously,

(06:39):
isn't it?

Speaker 2 (06:39):
Yeah? I would say in you know, in general, it's
still a seller's market. However, this is the best time
and I'd say at least five years that we've had
for a buyer to buy a home.

Speaker 1 (06:51):
What about seasonally? This is a great I think you
and I the other week we spoke, you mentioned this
is if you are in a position right now to
either or buy, it's a really good, good time a
year to be doing that too, isn't it.

Speaker 2 (07:05):
Yeah?

Speaker 1 (07:05):
Yeah?

Speaker 2 (07:05):
And I think a lot of people kind of forget
that is you know, I've purchased a majority of my houses.
I've had three or four that we've bought and they've
all been in you know, October November timeframe. I think
that once it just starts to get a touch of cold,
like today, Yeah, people decide they just want to stay
in by the fire, right, And this is the perfect

(07:25):
time for you know, a buyer to go out there.
It's a good time to list too, because there aren't
as many listings on the market and you know, you
don't have as much competition. So yeah, great time to
get out there and.

Speaker 1 (07:37):
Not as many lucky lose either and not nothing against
you know, there's nothing wrong with if you're even on
the border of like maybe we are maybe we aren't
looking to buy. Not they're wrong with with taking in
an open house or exploring online. But if you're if
you're somebody listing your home, the people you know that
are coming to look at your house, these are these
are interested, These are people that are interested active buyers.

(07:58):
So it really it's really a great time to be
listing your home. Also really a good time to be buying.
As we talked this morning with Matt Heymen of Rockrealty
Online Rock Wisconsin dot com. That's our Ock Wisconsin dot
Com telp number six oh eight six seven three fifty
four hundred. That's six oh eight six seven three fifty
four hundred. Again the website rock Wisconsin dot com. That's
our ock Wisconsin dot com. And sales are being being had,

(08:22):
for sure, I see a pretty good number when it
comes to sold both in Dane and Rock County. Closings
are happening, aren't they.

Speaker 2 (08:29):
Yeah, with the increase in listing, it's just really freed
up the market. You know, for so long there just
weren't enough listings for buyers. And now with four months
of supply, we're we're pushing through a lot more deals, right,
And there were increase of seven percent of total sales
in Dane County and an increase of six percent in
Rock County for total sales.

Speaker 1 (08:49):
Well, we look at this stuff too, are we seeing these?
These is Dane in Rockcounty somewhat reflective of kind of
statewide trends as well as far as existing home sales
and kind of where we're seeing as far as prices
and those type of things.

Speaker 2 (09:04):
Yeah, closings increase statewide, like just under seven percent, So
that's very very close. That's very close to what we
have your seven and six percent in Dane Rock County,
so right in line with that. Medium price rose eight
point seven percent statewide, which is kind of the average,
it looks like between Dane and Rock excellent.

Speaker 1 (09:25):
So he talks about of the Matt Heyman of Rockrealty online,
Rock Wisconsin dot com. That's Rock r ock Wisconsin dot com.
All one word there. I want to ask Matt about,
of course, where mortgage rates are right now. Also obviously
with the FED cutting rates there, what that'll mean ultimately
for mortgage rates and home buyers and sellers as well.
We'll get the details on that and so much more
or else talk a little bit about Rocklistings dot Com

(09:48):
and Wisconsin buyer Agent dot Com some of the great
other resources they have at Rock Realty. We'll do all
that next and MEETI. If you have been to the
website yet, Rock Wisconsin dot Com, get there now. That's
our Ock Wisconsin dot Com. Is our conversation that hypmen
of Rock Realty. We'll do that next. Has asked the experts.
Continue is right here thirteen ten double U I b
e oh eight forty nine thirteen ten wu iv A.

(10:14):
Thank you Matt for doing uh for doing the olmos.
Talking a little bit during the break about about hairstyles
and if you haven't had a chance to meet Matt.
Matt's got a I'm envious of. You've got a great
full head of hair.

Speaker 2 (10:25):
I have.

Speaker 1 (10:26):
I do not have that option, haven't had that option
for a for a very long time.

Speaker 3 (10:30):
I was telling Matt it's a two pay Yeah, Yeah,
it's the best one I've ever seen this morning with
that hypen of Rockrealty online Rock Wisconsin dot com. That's
r c K Wisconsin dot com.

Speaker 1 (10:44):
By the way, before we get back to uh this
morning's discussion, let's talk a little bit about that. You know,
one of the things that that I've really enjoyed about
getting to know you and other agents at Rock Realty
and the team you have, you're all very personal personal
It's it and it that is that's a really important
ass respect of real status. And then having people that
are really good communicators that are able to connect with people.

(11:05):
That's not something you can teach. That's that's really a gift,
isn't it.

Speaker 2 (11:08):
Yeah, And I think that, you know, culture is really
important too when it comes to affirm I think that
being around you know, like minded and like you know,
very similar personalities is important. And so yeah, we've attracted
some some great agents that just always have a positive
you know, outlook and personality, and I think that also

(11:29):
then affects the transactions for our clients. I think that
you know, they enjoy themselves, they have an enjoyable experience.
You know, maybe the bad things that happen aren't is
bad just because of the positivity, right, because some things
can go wrong, and you know, our agents try to
make that as as manageable as possible.

Speaker 1 (11:47):
Yes, and enthusiasm goes goes a long way, and a
passion and passion for what you're doing really goes a
long way as well. And so we talked to about
Rock Realty. If you haven't a chance to check out
the website Wisconsin Buyeragents dot com. That's Wisconsin buyer Agent
dot com. You can get to know the agents at
Rock Realty. They've got great bios there. You can learn
about their background. You can also schedule a conversation to

(12:09):
get to know the agents at Rock Realty. Again, that's
Wisconsin Buyer Agent dot com. All one word Wisconsin Buyer
Agent dot com. And Matt Obviously, interest rates when you're
when you're buying a home, interest rates are important. We've
had a couple of reductions from the FED. The mistake
I think sometimes. I know most of our listeners realize this,

(12:30):
but something that does need to be mentioned is just
because the rates come down from the FED, that doesn't
automatically mean that all mortgage rates go down by the
exact It kind of works its way through the system,
doesn't Yeah.

Speaker 2 (12:40):
Yeah, I mean the FED loans to banks and that's
the rate they're they're affecting that they're changing. But the
mortgage rate is actually more tied to bonds, specifically the
ten year bond. Right, So mortgage rates in September actually
hit their lowest, you know, in a year, which was

(13:01):
a six point three five percent average. You know what
I'm hearing from most lenders is that once that has
a five in front of it, at that point, all
the buyers are going to kind of flood the market. Right,
So this next spring could be pretty insane if we
get down to that five point eight five, five point
seventy five percent, Which is another reason if you're a buyer,

(13:22):
maybe you go out there now and take a look,
right because everybody floods the market regardless in spring, So
savvy buyers get out before.

Speaker 1 (13:29):
Spring, beat beat the frenzy, and that that is a great,
great great tip and great time to do that. It's
funny how we are so tied to Like if somebody
says like, well I've got I've got a six point
or a five point five percent, people are like, oh
that's great. You go, well I've got a five point
Oh You're like, oh my goodness. And it's a fra.
But people are very we are very I do know

(13:52):
something about numbers that really make us sometimes take action.
And I've got a guess too, Matt is is even
though we don't see like an immediate effect on rates,
just this hawk of that does get people excited, get
people interested, and kind of perks their interest in looking
at buying homes, doesn't it.

Speaker 2 (14:09):
Yeah, it's a it's a big factor, you know. It's
I would say the key factor in a lot of
cases is the rate. You know. What's interesting about that
is you can refinance at any time in the future,
so that you know, people sit on the fence and
wait until everybody else is motivated as well, which which
is a bad thing if you're a buyer. So sometimes

(14:29):
better just to buy now refinance later. But yeah, the
nice thing about interest rates, if they were to head down,
it also frees up inventory that much more because we
have so many sellers out there that are sitting on there,
you know, three percent, four percent mortgages, and at six
percent it's too big of a swing. But at at
the in the fives, maybe maybe they'll make that move

(14:51):
and bite the bullet and just get a slightly higher mortgage.

Speaker 1 (14:54):
Do you hear from folks that are that are saying,
you know what, we're not necessarily looking to buy today,
or maybe not even looking to list right now, but
you know, the kids are are going to be graduating
soon and maybe just kind of as just as you're
talking about kind of beating the rush of of looking
to buy right now. Do you have people that try
to kind of get out ahead of things and say,
you know what, we're not looking today to do this,

(15:16):
but we would like to maybe establish a relationship with
Rock Realty just to kind of get ahead of it,
so like when we're ready to ready to put the
house in the market, or I think probably more common
is when we're ready to buy, we've got that relationship established.
You here from folks like that.

Speaker 2 (15:30):
Oh, absolutely, And you know it's always it's always a
good idea to get familiar with the market. You know.
I for our second house, we shopped for two years.
You know, so I completely understand you know that you're
just on there browsing, right. Yeah, it's not that time yet.
But if that perfect house comes on up on the
market all of a sudden, I'll be motivated. Yeah, thing right,
And that's why happened for us, So, you know, And

(15:51):
sometimes timing has to do with when kids go back
to the school too. You know, we want to make
sure that you know, we get into the house before September,
or we want to we don't want to start looking
until until June, right when the kids are out of school, right,
And so it it definitely affects timing as far as
you know, both kids and family situations.

Speaker 1 (16:09):
Is there a measured metric at all for that? I
know obviously we look at time on the market houses,
but do we ever? Is there a metric for like
time looking as you mentioned, you know, spending two years
or obviously for most people, like what the average time
people take to finally make a home purchase. Is that
measured at all? Yeah it is.

Speaker 2 (16:28):
I don't have it in front of me, but if
I remember correctly, is it was somewhere between like twelve
and eighteen months. I mean it's yeah, it's a it's
a long term process, as it should be. Yeah, it's
a big purchase, and you know, not only do you
have to worry about is it right for you and
your family, but you have to worry about, hey, in
five to seven years, is it right for another family
that will just have resale value?

Speaker 1 (16:49):
Is that something too that that agents go over with
prospective buyers is like, you know, not only is this
going to be great now you look at like the
established you know, these neighborhoods and these areas of like
here are some of the benefits not just today but
also for the future. Is for a lot of folks,
you know, you're going to spend I don't know what
the average time is in a home, ten, fifteen, twenty years,

(17:09):
whatever it is, you are going to list that house
eventually having good like a good solid whether it's a
school nearby or other type of development. Is that is
that also one of the things that an agent would
work with a family or actually help people kind of
understand it's like, not only is this great today, but
when you do look to sell, there's a lot of
really great things going for this house. It's going to

(17:30):
make it desirable in the future.

Speaker 2 (17:31):
Also, Yeah, yeah, definitely, And it all depends on the house,
you know. Yeah, if you're going to get a house
that's right next to a noisy manufacturing area, then you
want to make sure that you're getting at a big
enough discount. That's where you know, the natural appreciation that
seems to happen with homes in the future will kind
of alleviate the amount of time you have to wait
for that right buyer to buy your house.

Speaker 1 (17:51):
The next time, or a house with the noisy kids
across the road at the school. But which is which is?
Actually people love that? Yeah, yeah, there you go. It
drives me bonkers and my dog, but I'll definitely take it.
Time this morning with Matt Heymen of Rockrealty Online Rock
Wisconsin dot com. That's Rockrock Wisconsin dot Com. Before we
get to the feature listing. One other thing too. I
mentioned Wisconsin Buyer Agent dot Com. Chance to get to

(18:14):
know the agents at Rockrealty. Haven't mentioned Rocklistings dot Com.
Let's talk about Rocklistings dot Com. The great promotion you
guys have going on at Rockrealty right now to really
make it easier for both listeners and buyers. So you
guys have a fantastic promotion going on, don't you.

Speaker 2 (18:29):
Yeah yeah, rocklistings dot Com it's got a promotion for
mobile storage. We partnered with a totally spaced out and
they're based out of the Madison area here. They will
deliver a storage unit to your your driveway. You can
load it up at your leisure and they can move
it to the next home, or they can store it
in the meantime until your your next home is ready.
So you know, that was something that was designed towards

(18:52):
sellers in the beginning, but we've opened it up to
buyers as well. So if a buyer wants to if
you're a first time home buyer and you want this
dropped off by your apartment, maybe we can make that happen.

Speaker 1 (19:02):
It's a huge benefit and a great thing. Again, get
all the details online rocklistings dot Com. That's rocklistings dot
com speaking of listings. Fantastic home and a fantastic community
and a fantastic cul de sac. This house on Bickley
Court in Stoton, Matt, Let's let's talk about We mentioned
just some of the some of the really you know,
the renovated updated interior. We did mention two car attached garage,

(19:27):
which I don't know about you. Have you ever had
a house where you've had people say, oh, there's too
much garage space, man, not yet, not yet.

Speaker 2 (19:36):
Yeah, now there's all you know, if there's room to
fill it, they will fill it. Yes. Seven Bley Court,
Bickley Court. It's a listed for three ninety nine nine hundred.
It's three bedroom, two bath, nineteen hundred square foot large,
you know, main primary bedroom on the main floor and

(19:59):
new vanity in some new carpet and the basement's got
a pretty pretty decent size rec room. It's got two
additional rooms down there that you can use as an
office or you could use as a workout room, or
you could put an egress window in it and you
would have the fourth bedroom.

Speaker 1 (20:14):
Wow. And that's and that's what a great opportunity that is.
You mentioned that that space, that flex space downstairs in
the lower level. Great opportunity. Today is a great day
to check that house out. All you can do is
give the listing agent, Matthew Heightman also known as Matt
Heiman a call this morning, say Matt, I'd love to
see that great house on Stote has telephon number six
oh eight three four seven forty one ninety six. That's
three four seven four one nine six. Make Matt's phone

(20:38):
ring this morning. Speaking of making phones ring, of course,
Rock Realty there telp number six O eight six seven
three fifty four hundred. That's six 's' eight six seven
three fifty four hundred. The website Rockwisconsin dot com. That's
r O c K Wisconsin dot com. Matt, it's always
great hanging out with my friend. You enjoy this fantastic
day you too. News comes your way next and Vicky
McKenna has chance to win one thousand dollars right here
at thirteen ten wivy eight