Madison has just 258 foreclosed homes and houses for sale, with the median listed price of a modest $177,000. The number of other FSBO {for sale by owner} homes at the Madison property auctions is much higher, at 1,976, and they bear the median listing of $214,000. Patently, the average seized home is going at a considerable discount as compared with the other properties. Chadwick Pamela, J. Michael, Gaylord Plummer and Nick Rahn are among the more prominent property brokers active in the Madison real estate market, and can prove invaluable to your efforts for finding your dream home at the Madison real estate listings auctions.
Madison is the county seat of Dane County, and the capital of the US state of Wisconsin. Madison plays home to the world-famous University of Wisconsin–Madison. The city forms the nucleus for the thriving Madison MSA, which includes the Dane County and parts of the adjacent Columbia and Iowa counties. Stoughton, Fitchburg, Verona, Monona, Sun Prairie, Middleton, Albion, Windsor, Berry, York, Black Earth, Westport, Blooming Grove, Vienna, Blue Mounds, Vermont, Bristol, Sun Prairie, Burke, Christiana, Springfield, Cottage Grove, Springdale, Cross Plains Rutland, Dane, Roxbury, Deerfield, Primrose, Dunkirk, Pleasant Springs, Dunn, Perry, Madison, Oregon, Mazomanie, Montrose, Middleton, Medina, Waunakee, Belleville, Shorewood Hills, Black Earth, Rockdale, Blue Mounds, Oregon, Brooklyn, Mount Horeb, Cambridge, McFarland, Cottage Grove, Mazomanie, Cross Plains, Marshall, Dane, DeForest, Maple Bluff and Deerfield.
Imminent Regularization of Mortgage Sector
Madison foreclosures represent a minuscule fraction of the large-scale government foreclosures occurring all over the US. Aspiring homebuyers in Madison can feel reassured that the US government appears to have their welfare in view, considering four of its recent moves that are certain to positively affect their housing and finance interests. For a start, disconcerted at the rising spate of foreclosures, the government has introduced the Foreclosure Prevention Act of 2008, which is currently pending study and debate with the House Committee on Appropriations. The bill seeks to make provisions for an NRC {Neighborhood Refinance Corporation} to curb mortgage finance foreclosures by means of preemptive counseling services. Another good step has been the announcement that from 2009, a Nationwide Mortgage Licensing System and Registry is to be compiled and maintained. This would make it compulsory for all loan officers and loan originators to takers to submit their personal details and related particulars to this proposed fundamental database. This step is likely to prevent individuals with criminal backgrounds from continuing to work in mortgage companies, as had lately been occurring a lot, and better protect the small consumers’ concerns.
Helpful Website for Prospective Homebuyers
First-time buyers of homes in Madison will be heartened by the new governmental initiative included in the recent housing bill whereby all first-time homebuyers would be given an interest-free federal grant of $7,500 to help them buy their homes. The most commendable step has been that, apprehensive about the plight of other homeowners helplessly getting sucked by the mortgage crisis, the government has set up an informative website containing practical guidance to intending real estate investors on how to keep away from situations that might eventually invite foreclosures. As an aspiring homebuyer or property investor, you ought to subject the contents of the website http://www.hud.gov/foreclosure/index.cfm to a thoughtful read.
