Julie Sells Dreams in Wisconsin's beautiful Northwood's: January 2012

Bank Owned Statistics for Northern WI Year End 2011

Just going over some year end numbers and - again - I get the most questions on info regarding bank owned and distressed sale properties. There was a news broadcast last week regarding this topic and I wanted to share some info I found with you - esp since I think it tells a very different story - bank owned sales do not appear to be on the rise from what I see in northern WI.

Looking back to 2009 when this market really started out we say roughly 82 bank owned sales in the entire MLS by the two biggest companies that house the listings; in 2010 there were approximately 139 and in 2011 roughly 120. Again, these numbers are pulled by looking at the number of homes sold by the top 2 leading bank owned sales offices in our MLS. It is NOT exact but I feel a "fair' estimate of the overall market.

Now regarding average price; in 2009 the average sale price was 103,193 : in 2010 the average sale price was 100,375 and in 2011 the average sale price was 82,908. The list to sell ratios are also declining, In 2009 the average list to sell ratio was 86%, in 2010 it was 76% and in 2011 it dropped to 73%. This is an average of all sales and I would expect the waterfront homes to be on the high end while the off water and vacant land sales will be on the lower end of those ratios. If I have time I may extract that info in the future but the KEY is to negotiate on your own and not in competition with another buyer.

I love this challenge and what it means not only in my life BUT my business and my world overall!

When I looked up the definition of trust the one I found that felt the most accurate and on target for me was the following:

Confident expectation of something: hope.

This is a solid reflection on my faith, my family and my business. I have hope.  In the current world we live in I think this is the one thing many people have lost sight of and the one thing that many people do not have. It is also the one thing that I try to give every buyer and every seller in my life because if I can get them to trust me I can give them hope.

As REALTORS we see everyday the lack of hope in so many peoples eyes.. 

• That Seller you are soliciting after having been on the market since 2005 who fears they will NEVER get the home sold so they can move on with their lives.  They want a signs of hope that yes they will sell and no they will not have to feel run over again by yet another agent.
• That Buyer that is sooo afraid they will miss the opportunity to cash in on this market, while fearing they will over pay. They want hope that they will buy in a savvy fashion and they will not see another 20% drop after their purchase.

And then for me the hope that I will be able to make my customer/clients feel good about their decisions in this market so they can sleep with ease at night and trust that they are doing the right thing. I still feel that home ownership is the bedrock of our society and when people start to feel that hope again and that it is an attainable goal for them they will begin to trust our economy. 

Love this topic and love this contest!

This post is a submission to the ActiveRain / Adobe EchoSign Trust Contest. I could possibly win a prize. You can find out about the contest by clicking here

Amazing Waterfront Parcel on Dam Lake of the Sggar Camp Chain of Lakes in Northern WI

Opportunity SELDOM knocks like this! 22.45 acres of high - dry privacy on the 5 lake Sugar Camp WI chain of Lakes and OVER 1040 feet of gorgeous sandy frontage on the main body of Dam Lake.  

This is a privacy dream in a location perfect for anyone!  Priced below Fair market Value AND BELOW Recent Appraised Value this is a MUST see parcel for the "real" buyer.

This is a HUGE OPPORTUNITY to have it all and then subdivide if you want! This uniquely private parcel is one of a kind in this market AND on this Chain! Located on Dam Lake of the 5 lake Sugar Camp Chain the land is all high, dry and wooded so this parcel is special!. You can build anywhere and the lake views will be stunning from any spot here. Located in Sugar Camp between Rhinelander and Eagle River the setting could not be better and the Sugar Camp Chain is known for privacy and EXCELLENT FISHING! Currently there is an old three season cottage with no septic on site and a small garage that can hold the boat while you decide where to build your dream home!

For MORE information on this unique Buy visit my website at www.EagleRiverHomeFinder.com for additional pictures

Again let's recap this unique piece:

• Over 22 acres of high, dry, wooded  privacy
• OVER 1040 feet of gorgeous frontage
• Off of Hwy D just down from the camp and betweem Eagle River and Rhinelander
• Seller believes it can be subdivided
• Priced below BOTH Fair Market Value and Appraised value

December 2011 results for the Northern WI counties of Vilas and Oneida!

After a better than expected October and November, December was slightly disappointing.  Home sales dropped to 78 units in Vilas and Oneida Counties for the last month of the 2011 year.  That compares with 92 units in December of 2010.  However, we only sold 67 units in December of 2009.  I can offer little in the way of an explanation for the lackluster results as December sales represent the lowest volume since May’s volume of 74 units.  My thoughts are that it could be a reflection of the current economic environment BUT - again - if you look at the last quarter OVERALL we ended up in numbers and this, to me, is a far better indicator and shows a better reflection of the year overall. Sales units in my market segment are up!!

There is one very interesting point to be made.  I cannot recall a point where we had more homes being listed than sold.  In December, only 85 homes were listed.  We almost had more homes sell than were listed!  The chart above shows this and you can see where those lines almost overlap in December.... Sellers obviously do not have a great deal of confidence in the market.  I have first-hand experience with this as I have had to tell many sellers that I cannot sell their homes for what they believe to be a fair value.  The market appears to be working as the reduced number of sellers entering the market will reduce supply and in theory, will put upward pressure on prices.  Less Supply EQUALS greater demand!!!  I will watch this trend as we head into the New Year.  For more information or to watch my video blog check out my website www.EagleRiverHomeFinder.com.

We have good snow cover and plenty of ice.  The trails are marked and in good shape.  We hope that you have the opportunity to come up and see our winter wonderland!  Best wishes for the New Year!

Copyright©by Julie Paez, All Rights Reserved,  "Market statistics for December of 2011 in Vilas and Oneida Counties."