27 News: "Buyers are Stepping Up"

MADISON (WKOW) -- It's a buyer's market for the housing industry.

In Madison, buyers are stepping up. Some homes are selling just days after they're put on the market.

27 News set out to find the trick to selling.. in a buyer's market.

Deesa Price put her westside home off on Longmeadow Road on the market a couple months ago. No takers yet, but she's not discouraged.

Price says, "Most people who come through usually drive by or walk by; they say they like the neighborhood and were just stopping by."

Deesa might be in luck.

Dave Stark, President of Stark Realty, says, "In the last 4-6 weeks, it's really picked up again, noticeably picked up again."

It picked up fast for the sellers of one home on Dylyn Drive. They saw almost 30 parties walk through: during one open house.

John Neumann, the realtor for the home, says, "I knew the market for starter homes was moving well and the house was well prepared. But I probably didnt expect, you know, 27 parties. I didn't sit down!"

The 8-thousand dollar tax credit for first-time home buyers seems to be pushing the market. A safe neighborhood, and a 200-thousand dollar price range for those first-time buyers are also selling points for Madison homes.

Stark says, "I think it's kind of the loss of fear. If you go back a year ago, people were very fearful: of the economy in general, nervous about housing and committing. That seems to have dissipated."

Record-low interest rates are also motivating home-buyers.

The city of Madison is also hoping to curb foreclosures. Madison's mayor announced last week the city plans to invest a million dollars of federal stimulus money to help the market.

(Article from WKOW 27 news)