Julie Sells Dreams in Wisconsin's beautiful Northwood's

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." 

What effect are Bank Owned Properties having in the real estate markets in the Northern WI counties of Vilas and Oneida?

I often get asked about bank owned properties and "What effect are Bank Owned Properties having in the real estate markets in the Northern WI counties of Vilas and Oneida?" .  They do present tantalizing values and they do have an effect on Northwoods’ real estate.  The good and bad news is that we have not had the number of foreclosures that they have had in Florida, Arizona or Nevada.  The above chart shows homes sold in Vilas and Oneida Counties, non-bank owned, bank-owned waterfront and bank-owned off-water in 2010.  Of the 755 homes sold in Vilas and Oneida Counties, 103 homes were owned by a financial institution.  Of those 103 bank-owned homes, 33 were waterfront homes.  Of those 103 homes, 6 were purchased above $300,000. 

This works out to the following.  Of the 755 homes sold in Vilas and Oneida Counties in 2010, 13.6% were bank owned.  Of those 755 homes sold, 4.3% were waterfront homes owned by financial institutions.  And of those 755 homes sold, 0.8% were premium priced lake home foreclosures.

It is always hard to draw conclusions but I will make my best effort.  It appears that the higher priced homes have less of a chance to be foreclosed.  Or if they are in trouble, they find a different means to get themselves out of trouble.  As far as the effect on the market, it is spotty.  If a bank-owned home sells for thousands less than comparable homes on the lake or in the neighborhood, it will bring those neighboring homes’ values down along with it.  Some good news here is that the supply of foreclosures may be dropping in 2012.

The weather is warming but we still have lots of ice.  We are hopeful that warmer temperatures will also heat up the Northwoods real estate market.  The chart below is a graph of the overall effect these properties havein our MLS overall.

Please contact me or visit my website for video updates or to search current active listings at www.eagleriverhomefinder.com for specific properties in this market that are bank owned call me at 715-891-1236 or see my blog at : www.juliesellswisconsin.com for additional information about today's market in Northern WI.

Copyright©by Julie Paez, All Rights Reserved, " What effect are Bank Owned Properties having in the real estate markets in the Northern WI counties of Vilas and Oneida?" 

Eagle River WI will be hosting this years Labatt Blue/USA Hockey Pond HockeyNational Championships again this year the weekend of Feb11-13,2011!

The 2011 Labatt Blue/USA Hockey Pond Hockey National Championships are set for Feb. 11-13, 2011 on Dollar Lake in Eagle River, Wis. The event is in its sixth year and is one of the highlights of the season.

This event takes place on tucked away Dollar lake just outside of Eagle River, WI.  Thanks to the local fire department and the MANY volunteers this community is able to clear OVER 800,000 sq. feet of ice and create approximately 24 hockey arena's for the big event!  Last year we hosted 250 teams equaling close to 1500 participants. This is an amazing undertaking and a truly wonderful community event!

The winter wonderland that IS Eagle River WI is really only a tank of gas away ( or two ) from Minnesota and Illinois and is a very affordable place to take your family for some good fun and some great entertainment!  I believe last year about 24 states had teams present so you can come and root for a local team or your own home town team. 

Affordable ... Fun and not far from home!  So, come to Eagle River WI and take place cheering on your favorite team, do some shopping and if you decide you want to get away here permanently CALL ME, your local real estate expert!  I would love to show you some great real estate buys so next year during pond hockey you have your own digs for the weekend!

To see more info about me and the real estate market in Northern WI click here.

Now here is a list of the events this weekend for The 2011 Labatt Blue/USA Hockey Pond Hockey National Championships are set for Feb. 11-13, 2011 on Dollar Lake in Eagle River, Wis.

If you want to see a video on how this event is shaping up as of February 8,2011 just click here and SEE YOU THIS WEEKEND!

Copyright©by Julie Paez, All Rights Reserved, "The 2011 Labatt Blue/USA Hockey Pond Hockey National Championships are set for Feb. 11-13, 2011 on Dollar Lake in Eagle River, Wis ".

October END of the MONTH statistics and HOW FORECLOSURES are affecting the northern WISCONSIN counties of Vilas and Oneida

October END of the MONTH statistics and HOW FORECLOSURES are affecting the northern WISCONSIN counties of Vilas and Oneida!  So....over 3/4th's of the year is over and home prices here in the "Northwoods" appear to be stabilizing a bit.  Based on year to date sales we are seeing an increase in volume in BOTH Oneida and Vilas counties. This is not a huge increase but it is definitely something.  Vilas is UP approximately 40 units ( 241 homes sold in 2009 vs 283 in 2010 ) and also up about 1% in average sales price AND Oneida is UP approximately 20 units ( 374 homes sold in 2009 vs 396 in 2010 ) and actually down about 1% in average sales price.

What does this mean and how are foreclosures affecting our market? This is the most common question that I am asked and this is what I am seeing...  I cna tell you that every market segment is competing with some foreclosures and there are more creeping into our market.

How many more?  I pulled the most common listing agents for foreclosures and I saw about the same amount of foreclosures in Oneida county in 2009 vs 2010 and an increase by about half in the Vilas county market this year.  Now this will be a conservative number b/c I cannot search specifically foreclosures in our MLS but I think it gives us a good estimate of what is happening. So, this increase in foreclosures in Vilas County is probably why it shows an increase in unit sales b/c banks are aggressive with their sales strategy as to not carry a property long term.

I also pulled the stats for foreclosures in our market this year and the average sale price is $111,866.00, the average days on market is 99 days and the average list to sale price from the ORIGINAL listed price is 78%.   How does this compare to the market overall?  Well, the average sales price so far this year is $207,500 the average days on market is 175 and the average list to sale price from the ORIGINAL list price is 87%.

So, the encouraging news is that we are seeing stabilization AND there are still some great deals to be had out there! So,  JUMP in and take advantage of interest rates because this is still an amazing time to buy!! Call me or talk to a local expert in your market so you can stay in front of what is happening in your segment of the market and purchase with confidence!! 

Copyright©by Julie Paez, All Rights Reserved, "October END of the MONTH statistics and HOW FORECLOSURES are affecting the northern WISCONSIN counties of Vilas and Oneida".

Buyer's in today's market are hungry for DEALS and STEALS in Northern Wisconsin's Vilas CountyAND there are some truly great values out there! I am going tp outline a few that would be seen as a real deal to anyone form the actual buyer who wants a home up north to the investor. 

1080 Berry Lane on prestigous Cranberry lake on the 28 lake Eagle River WI chain of lakes MLS 111403

• Prices NOW at $479,000.  Originally priced at $579,000
• Priced NOW over $90,000 UNDER Fair Market Value.
• Seller's want an offer and are prepared to leave the majority of furnishings behind
• Mint condition, level lot with Southeast exposure and sand frontage!

Black Oak Lake Privacy Parcel on wonderful Black Oak Lake in Land O Lakes, WI MLS 114080

• Now priced at $499,000. Originally priced at $695,000 
• Priced NOW over $389,000 UNDER Fair Market Value
• Turn key recently renovated home in MINT condition
• OVER 350 feet of level frontage AND over 6 acres of land ... Total Privacy Parcel

Spring Lake Privacy Parcel on Spring Lake just outside of Eagle River WI MLS 112903

• Now priced for the entire parcel at $289,000.
• Priced OVER $70,000 under Fair Market Value
• Wonderful North wood's Home on over 750 feet of frontage and over 5 acres of land
• Turn key and in move in ready condition.

Eagle River Chain Condo on the famous 28 lake Chain in Eagle River WI MLS 100209

• Now Priced at $165,000 WAS $199,000!
• Now priced over $8,000 UNDER Fair Market Value!
• Walking distance to town and built in 2001! 3BR's( 1 master ) 2 BA's and in Turn key condition!
• Frontage on the Eagle River so you have access to everything!

St. Germain Leisure Lodge Condominiums on Wonderful Big St. Germain Lake in St. Germain WI MLS 113722,113718

• Combined they are listed at $269,000
• Combined they are listed OVER $130,000 UNDER Fair Market value!
• Combined they generate OVER $21,000 in INCOME per year
• Unit 4 has loads of upgrades and is priced at $169,000 OVER $50,000 UNDER FMV
• Unit 10 has 50% expansion room + room for a garage and is priced at $99,000 OVER $80k UNDER FMV
• Motivated Seller and turn key in the rental program

Eagle River Chain - Balsam Lane Lot/Trailer on the Eagle River Chain of 28 Lakes MLS 110337

• Now Priced at $159,000 a
• Now priced OVER 40K UNDER Fair Market Value!
• 200 feet of nice frontage on the chain of lakes with the mobile and a 2 car garage!
• Ready to use today and build your dream home on tomorrow! PRIVATE and close to everything!

Eagle River Second St. Charmer in downtown Eagle River WI MLS 88365

• Now priced at $119,000 was priced at $159,000
• Loads of recent upgrades and walking distance to EVERYTHING!
• Motivated Seller wants it gone by winter!
• 4 bedrooms - 2 baths and OVER 2000 sq. feet of home

Ohio St Roominess in Eagle River WI  MLS 110552

• Now priced at $105,900 was priced at $139,000
• In move in condition and ready to go!
• Seller WANTS an offer by SNOWFALL!
• 2 bedroom 1.5 baths 2+ car detached garage and could be the spot for a HOME based business!

For MORE great DEALS and Steals in Northern Wisconsin's Vilas County just click here

Copyright©by Julie Paez, All Rights Reserved, Deals and Steals in Northern Wisconsin's Vilas County

What IS the relationship between Assessed Value and Real Estate Sales in the Vilas County Area? 

This is a common question I am getting more and more from Buyers as they continue to look for great values in todays market.  I decided to do a study on the townships surrounding Eagle River to see exactly how each township differs in their sales prices and their Assessed and Fair Market Values.

I chose the townships surrounding Eagle River, WI in Vilas County because they are so close yet the tax values differ greatly.  What I have been finding is that many of our buyers are hung up on fair market value and assessed value when they go to make an offer.  For some townships that is a good thing and for others not so much.  So,  I took the sales in the surrounding area since Oct 1,2009 and did a small study and this is what I found :  

• In the town of Cloverland the trend has been that recent home sales have fallen right between Fair Market Value and Assessed Value.  Average sales price was $272,000 while the average FMV was $303,446 and the average AV ( Assessed Value ) was $251,700.  Cloverland appears to be the township with the largest discrepancy between those 2 values...  
• In the town of Lincoln the trend has been that recent home sales have fallen right under BOTH Fair Market Value and Assessed Value.  Average sales price was $213,818 while the average FMV was $232,648 and the average AV ( Assessed Value ) was $229,336  This makes the average list to sell ratio in Lincoln about 91-93 percent.  When I studied the waterfront only in Lincoln that average was a bit higher.  So, all in all Lincoln has held closer to it assessed values than the other surrounding areas...  
• In the town of Washington the trend has been that recent home sales have fallen quite a bit under BOTH Fair Market Value and Assessed Value.  Average sales price was $223,066 while the average FMV was $287,455 and the average AV ( Assessed Value ) was $280,511.  This makes the average list to sell ratio in Washington just under 80%.  When I studied both waterfront and non-waterfront separately in Washington the waterfront parcels have actually faired better despite a couple of recent sales that have really brought those averages down.     
• In the City of Eagle River the trend has been similar to that of the Town of Washington. Sale prices have fallen under BOTH Fair Market Value and Assessed Value.  Average sales price was $72,293 while the average FMV was $92,749 and the average AV ( Assessed Value ) was $84,371. This makes the average list to sell ratio in the city about 78% of FMV and 86% of AV.    

What does this mean??? Overall, it means we need to keep an eye out on these values when we price and when we negotiate and when we write offers. It gives us an insight into what is happening as a trend and to why Buyers may be feeling some prices are high for what they are assessed at.  It also shows the discrepancy between each township and how they assess...It is also good to know how each township's value is doing in regards to this selling market.  Again - there are exceptions to every rule AND while I did try to weed out most foreclosure there may be a couple in there as well as some short sales. 

Another key thing to remember is that these values may have been placed on them by someone who actually has never been in the property.  So, if you have a buyer or are a buyer questioning pricing based on an Assessed Value or a Fair Market Value in Vilas County - Eagle River, WI perhaps this can be a guide to where a purchase price may fall.

Copyright©by Julie Paez, All Rights Reserved, Assessed Value and Real Estate Sales in Vilas County, WI   

Whether you are relocating / retiring / or looking for a spot for your home based business this amazing concrete construction home on Big Sky Dr. in Eagle River Wisconsin is priced to sell and a must see property.  This 1800+ sq. foot home offers energy efficient living for the thrifty shopper.  It boasts draft free walls and full concrete construction so this home is solid and incredibly cheap to heat! It is located just north of Eagle River WI on Big Sky Dr. and is convenient to all Northwood's recreation, as well as, shopping and schools.

The home itself offers 3 bedrooms, 2 full baths, a bonus room that could be used as an office, main level laundry, a mud room, attached 2 car garage, and open concept living with a gas fireplace on the main level and a second living space in the lower level.  Immaculately kept and loved this home offers worry free living and was constructed in 2004. There is a back deck overlooking your private back yard and a large work room in the basement offering extra storage space.  The lot is large enough to offer a second garage or out building for you to run your home based business or to store all of your Northwoods toys!!

So, if your shopping for Eagle River Wisconsin property you must check out this amazing concrete construction home in Eagle River Wisconsin beacuse it is priced to selland ready for you to move in and start enjoying the benefits of Northwood's living. Some of those benefits, again, are as follows:

• Maintenance free living
• Energy efficient with superior construction
• Main level living
• 2 car attached garage
• Over sized private lot
• Minutes from downtown Eagle River
• Located between many great lakes for fishing or recreation
• Neat as a pin and ready to move in!!!

For more information and additional pictures of this property and other Northern Wisconsin listings check out this local resource .

Copyright©by Julie Paez, All Rights Reserved, Amazing concrete construction home on Big Sky Dr. in Eagle River Wisconsin is priced to sell!!

Amazing Voyageur Lake property on the Eagle River Wisconsin Chain of 28 lakes!!

This listing offered for the 1st time to the Eagle River Wisconsin market is a real opportunity for the Buyer looking for a good deal!   This Voyageur Lake property on the Eagle River Wisconsin Chain of Lakes is located in a quieter bay right off the main drag of the chain! It is nestled by Lake Forest Golf Course and offers spectacular views of the lake and of nature.  This year around home has been owned by the same family for years and they have used it for all seasonal activities from snowmobiling to water skiing.

It offers so much for the buyer and is priced TOO SELL!! It has about 180 feet of frontage on the chain, a 2 bedroom, 1 bath home with a 2 car detached garage with bunk house out back and 2 alternate heating sources so you can use and enjoy it anytime of the year.  The home,while sitting close to the waters edge, offers a wooded trail to the lake that could be opened up for enhanced views... These sellers wanted to be tucked away from the lake but new owners could create their own experience!

This parcel is priced under $300,000 dollars and offers so much more than it's competition. Here is what you get for your money:

• 180 feet of frontage on Voyageur Lake
• a year around home
• a 2 car detached garage
• a permanent pier
• gorgeous views of Voyageur Lake
• Southern exposure

These are just a few of the many amenities offers with this Voyageur Lake property on the Eagle River Wisconsin Chain of Lakes!  Be certain to check out this well priced deal that offers so much for the buyer looking to get on the chain!  For additional pictures and additional information on this and other northern wisconsin properties for sale check out this local resource. 

Copyright©by Julie Paez, All Rights Reserved, Voyageur lake property on the Eagle River Wisconsin Chain of Lakes