Need More Affordable Home Ownership Options? Build what People Want AND Need! – Troy Thiel
On this episode of The Closing Table, we sat down with Troy Thiel!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Troy Thiel…
Troy is a dedicated real estate professional based in Madison, Wisconsin. Beyond his career in real estate, Troy is actively involved in various community initiatives, demonstrating his commitment to making a positive impact.
As a well-rounded agent, Troy has garnered extensive experience across diverse markets and specialties. His expertise encompasses assisting individuals in buying and selling homes, collaborating with investors, and providing consultations for development projects. Troy’s professional journey has taken him through the dynamic real estate landscapes of Chicago, Madison, and Seattle.
Madison, the vibrant city where Troy operates, is characterized by a diverse culture and a strong sense of community. Home to the University of Wisconsin and other major institutions, the city boasts beautiful lakes, a thriving arts scene, and convenient access to other Midwest cities.
In Madison’s housing market, single-family homes move swiftly, spending an average of 25 days on the market. The median sale price for these homes hovers around $450,000. Notably, condos in Madison are experiencing high demand, selling at a higher price-to-list ratio. Increasing rent prices further contribute to the appeal of homeownership.
Troy is a vocal advocate for affordable housing and homeownership. Recognizing that homeownership fosters wealth-building and stability, he emphasizes its role in enhancing community involvement and improving overall quality of life.
He also actively participates in the Community for Affordable Housing, an initiative focused on raising awareness about the housing crisis and facilitating increased homeownership. Troy’s involvement extends to lobbying for changes in condo liability laws and promoting condo conversions, a strategy that involves transforming existing apartment buildings into condos, providing more affordable options.
Condo liability laws, enacted in 31 states, have inadvertently impeded condo construction and limited affordable housing options. To counteract this, Troy advocates for condo conversions, utilizing existing buildings to offer lower-cost homeownership opportunities and alleviate the affordable housing shortage.
Organizing the “Future of Homeownership” event, Troy aimed to bring together experts, legislators, and community organizations to address the housing crisis in Wisconsin. The goal is to create a coalition and advocate for policy changes that make homeownership more accessible.
Troy’s participation in the Asian Real Estate Association of America (AREAA) event focused on affordable housing in the Midwest. The panel underscored the affordability of homes in the region compared to other areas, emphasizing the need for investment and the potential for real estate market growth.
His passion for advocating affordable housing and expanding homeownership opportunities shines through his involvement in various initiatives. Through his belief in the effectiveness of condo conversions and policy changes, Troy envisions addressing the housing crisis and creating a more sustainable housing market for all.
Check out Troy Thiel:
Facebook: https://www.facebook.com/thethielteam
If you loved this episode subscribe so you never miss one! Want more The Closing Table content? Head over to our blog.