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

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

As a local expert I decided to study what the relationship between the Assessed and Fair Market values of the properties selling in the surrounding Eagle River, WI areas AND SALES PRICE from January 1 to June 26, 2010. Since this correlation seems to be whay alot of today's buyers are focusing on. 

So,  I will go over some of the township with you so you know what is happening this year versus where we were last year...  Volume is definitely up and in certain pockets so is sales price but only in certain pockets...

I looked at January 1 to June 24^th and this is what is happening in our market place: This is waterfront numbers only.

1.  Washington Township has had 16 sales : Average Sale price $216,400 which is 81% of  A. V. ( assessed value ) & 80% of F.M.V. ( fair market value ) last year there were 3 sales ( one 1.6 million ) w/av. Sales price of $733,000. Taking out the million dollar property the average price was $237,500
2. Lincoln Township has had 4 sales: Average Sales Price $360,975 which is 90% of A.V. and 89% of F.M.V. Last year there were 6 sales w/av. Price of $288,333
3. Cloverland Township has had 6 sales: Average Sales Price $185,566  which is +10% of A.V. and 92% of F.M.V. Last year there were 3 sales w/av. Price of $265,166
4. St Germain Township has had 6 sales : Average Sales Price $233,900 which is 82% of A.V. and 86% of F.M.V. Last year there were 3 sales w/av. Sales rice of $263,833
5. Three Lakes Township has had 13 sales: Average Sales Price $364,668 which is 92% of A.V. and 91% of F.M.V. Last year there were 4 sales w/av. Sales price of $282,250

The only township showing sales prices OVER F.M.V. and A.V. was Sugar Camp and they were showing an increase of about 8% over both of those numbers.

I also took a brief look at some off water numbers and I made it through the city of Eagle River and the town of Washington.

• In the city there have been 7 homes sold with the average off water price being $96,942 which is 97% of the A.V. and 88% of the F.M.V.
• In the town of Washington there have been 6 homes sold with an average price of $106,300 which is 95% of the A.V. and 94% of the F.M.V.

I also took a brief view of vacant land ( Vilas County )  yesterday and what I am noticing is an increase...yes an increase... in vacant land waterfront sales prices... There have been about the same number of vacant land sales this year versus last year ( 49 vs. 48 ) but the good news is that the amount of those sales that are waterfront has almost doubles ( approx. 10 waterfront sales last year at this time to approx. 20 waterfront sales this year ) AND the average sales price is up. This year's average sales price is about $93,000 and last year at this time it was about $68,000.  So, I am hoping this trend continues AND it will spill over to every other portion of our marketplace

SO, again this tells a bit about what the relationship between the Assessed and Fair Market values of the properties selling in the surrounding Eagle River, WI areas AND SALES PRICE from January 1 to June 26, 2010... 

Remember to call a local exppert when you are ready to BUY or SELL in the Northern Wisconsin counties of Vilas or Oneida or Michigan's UP!   Also, for more information on this local market just click here or for the local MLS click here.

 Copyright©by Julie Paez, All Rights Reserved,what the relationship between the Assessed and Fair Market values of the properties selling in the surrounding Eagle River, WI areas and SALES PRICE from January 1 to June 26, 2010.

What is happening in the Northern Wisconsin's counties of Vilas and Oneida serving the greater Eagle River, WI area?  Well 6 months into this years market and here is where we are.

• We have seen growth not impressive growth but beggars can't be choosy!  98 homes were sold in Vilas and Oneida Counties in June.  That is the best month since October 2009.  In fact, when one looks at unit sales since November 2008, June's 98 units are the second most homes sold other than October 2009's 109 units, which is cause for some celebration!

• We` have put together 4 straight months of increases.  We still have a long way to go.  When one looks at the unit sales and then one takes a closer look at what is selling, it is clear that less expensive homes are selling.  Homes priced above $500K are sluggish and although we did sell a home for $900K in June, the Greater Northwoods MLS still has not sold a home above $1M in 2010.  Three large tracts have sold above the $1M mark this year and that is good news.

Will the premium priced home market warm up?  Will the mid-term elections loosen up some of the money in the market?  I am optimistic that the fiscal responsibility tone of the electorate will strengthen the bond market and boost the stock market and the real estate market.

What does this mean for you?  Well, if you are looking to buy or sell real estate in the Northern Wisconsin counties of Vilas or Oneida in the greater Eagle River WI area  it means diferent things to all.  If you are a seller it means we have to be prepared in the above 400k market to expect buyers to want to negotiate and buy up.  If you are a seller in the under 300k range you should see activity if you are priced right, but you have A LOT of competition.  If you are a buyer it is a great time to  look to buy up. There is a lot to choose from and you can choose homes in this market that may have been out of your reach 3 years ago.  So, start looking and call with any questions!  You can reach me on my cell 24/7 at 715-891-1236 and please feel free to pass this on to anyone else you know that may be in the market for Northern Wisconsin real estate!

Copyright©by Julie Paez, All Rights Reserved, What is happening in the Northern Wisconsin's counties of Vilas and Oneida serving the greater Eagle River, WI area?

This amazing Wisconsin River Parcel is seconds from Watersmeet Lake on the amazing Chain of Lakes in Wisconsin and it is priced to SELL at UNDER FAIR MARKET VALUE!

If you have been looking for an opportunity to get on the Eagle River Chain of lakes with privacy and easy access than look no further.  This great lot offers 200 feet of Wisconsin River frontage with large mature pines on your own 1.8 acre parcel.  There is a gentle slope down to the water's edge and a sand bottom when you get there.

These Sellers planned their future retirement home here and planned on placing their home where the current mobile sits. Fully functioning this mobile offers two plus bedrooms, a full bath and a 2 car detached garage to hold toys.  The land is gorgeous with its huge mature pines, great views down to Watersmeet Lake AND  loads of privacy even in the dead of winter. This property is turn- key and gives you a place to hang your hat while you start exploring all the Northwood's offers for recreation and nature.  Enjoy it now while you plan your future home! PRICED OVER 40K under Fair Market this is a real deal in todays market!

So, come NOW and view this Eagle River WI Chain of Lakes Property that is priced to sell TODAY for 159k!

For more information on this property or others like it click here!

Copyright©by Julie Paez, All Rights Reserved, Eagle River WI Chain of Lakes property priced to sell.

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   

This amazing lot just outside of Eagle River WI on pristine Kentuck Lake is priced to sell in this market!  Excellent exposure, Excellent frontage AND an Excellent price make this THE stand out lot in the current marketplace!

Shop and Compare this value against all the rest! 

This wonderful lot on crystal clear Kentuck Lake ( all 972 acres of it )  offers the best of it all.

• First, it offers western exposure for wonderful sunsets.
• Second, it has excellent frontage like only Kentuck has: rock and gravel on top of gorgeous sand, NO weeds in sight!
• Third, it has approx. 1.8 acres of land and 100 feet of frontage. Fourth, it is located down a winding road that is beautiful year around and gives you the full North woods impression.
• Fourth, it is located down a winding road that is beautiful year around and gives you the full North woods impression.
• Fifth, you are on a dead end that leads to Federal Land so you have limited road traffic for ultimate privacy AND you are minutes from the Spectacle Lake/Kentuck Lake hiking trails!

The lot has a moderate slope to the lake which will afford a beautiful building site with a lower level walk out about 75- 85 feet back. Spectacular lake views and your neighbors won't be in your way! Lastly, this parcel is priced to sell at $169,000. So, shop and compare and make us an offer TODAY! This amazing lot on Kentuck Lake just outside of Eagle River WI is PRICED TO SELL!

Copyright©by Julie Paez, All Rights Reserved, Kentuck Lake lot in Eagle River, WI. 

Planting Ground Lake property on the Three Lakes Chain has been drastically reduced!!

This Three Lakes Chain WI Premier property has been drastically reduced for sale! This seller has said "Make Me An Offer" so the price has been slashed!  This unique parcfel began its list price at $1,195,000 and is now being offered at $749,000!. This Three Lakes, WI chain home on Planting Ground lake offers so much more than the competition that you MUST see it to appreciate it!  It offers 3BR's, 2.5 BA's over 3000 square feet of living space, a COoKS kitchen, 2 fieldstone heatolator fireplaces, a master suite, 2 steam showers, a Pearl Hot Tub, skylights, an amazing great room , a lower level walkout, an oversized attached garage and so much more!!

The grounds offer 100 feet of gorgeous ripple sand frontage, over 1.7 acres of land, south western exposure for breathtaking sunsets AND beautiful lake breezes off the chain. There is also an oversized toy storage shed with additional storage above the garage!Planting Ground lake is a 1012 acre lake on the 32 lake chain and it is one of the least traveled and most sought after!  This Seller's favorite thing about this home is the "hawiian like breezes off the lake" and the outstanding lake views!

This Three Lakes Chain, WI premier property has been drastrically reduced for sale so take the opportunity and come and see what this great property offers you! Located just south of Eagle River Wisconsin and just 's north of Three Lakes Wisconsin this is the ideal getaway for anyone!   Make us and offer and see what this Three Lakes Chain premier property has for you!

   To view the VIRTUAL TOUR of this property just click here :  Planting Ground Premier

Copyright©by Julie Paez, All Rights Reserved, Three Lakes Chain WI premier property drastically reduced! 

Amazing Homes For Sale on pristine Black Oak lake in Land O Lakes, WI

Amazing TWO for the price of ONE opportunity on Black Oak Lake in Land O Lakes, WI!!  This parcel in Vilas county is tucked away in Land O Lakes, WI on pristine Black Oak Lake!

... Looking for that charming home and guest home in the North woods that could be the cover of Cabin Life Magazine? Look no further. Here it is in beautiful Northern Wisconsin!!

This amazing property offers so much for the individual with an eye for detail and charm that longs for a unique Northwood's home that oozes style. This home was recently remodeled from head to toe and the Seller's spared no expense in doing so. The main home boasts over 1700 sq. feet of living space, 2 bedrooms ( one with a walk in closet) , 2 baths, a gourmet kitchen with corian counter tops, jaco bean cabinetry w/pitted glass windows, stainless steel appliances, & checkerboard maple flooring.

 The living/dining room offers ample gathering space for family and friends and it can spill out onto the deck just off this room bringing the lake into your living space. There is also an enormous lannon stone wood burning fireplace that can be the focal point of your room during those cool winter evenings. It also has a mud room off the one car attached garage and lakeside windows that truly make you feel like you are sitting right at the water's edge.

The guest cottage, also year around, offers 2 bedrooms, one bath, a full kitchen and a wood burning fireplace. There is ample space for friends or family to stay for a weekend or weeks on end.

 The beautifully landscaped lot affords loads of privacy, is 3.39 acres in size, has 225 feet of gorgeous level sand/silt frontage and sits on a quieter bay of the lake so you don't have a lot of boat traffic right out front. There is an additional 2 car oversized detached garage, large storage shed with fish house out back and so much more here that I can't mention. This lake is a top quality lake that seldom turns properties over so come and take a peak today. Seller's are ready to move on so they priced this unique home over 90,000 under fair market value. You must see it to believe it! Adjoining vacant lot with 150 feet of frontage is also available.

So if your looking for an amazing TWO for the price of ONE opportunity on Black Oak Lake in Land O Lakes, WI!!  This home in Vilas county on pristine Black Oak Lake could be the perfect opportunity for you!

 To view this property or others in Northern WI check out this local resourse.

 Copyright©by Julie Paez, All Rights Reserved,  Amazing Homes For Sale on pristine Black Oak lake in Land O Lakes, WI

Deals and Steals in Northern Wisconsin's tucked away counties of Vilas and Oneida and the towns surrounding serene Eagle River, Wisconsin.   

As July slowly drips by us up in beautiful Northern Wisconsin's tucked away counties of Vilas and Oneida I find myself wondering where are all the buyer's looking for great deals in beautiful Eagle River Wisconsin!!

We are half way through the year and here are some REAL numbers!!

Unit sales in June 2008 were 123, in 2007, they were 186 and in 2006 they were 207.  In 2009, June unit sales of homes in Vilas and Oneida Counties were a disappointing 79 units.  We are selling 38% of the homes that we were in 2006 and 64% of what we were in 2008.

We are seeing values fall between 85 and 90 percent of list price and the ones that are selling are the proerties being reduced and priced competitively. There are reductions daily and the savvy buyer can make the most of this buying season!

This is normally our prime time of the year and I can not stress again that.... our inventory is excellent and there are terrific values out there. We just simply need  BUYERS!!!

We were feeling optimistic about the second half of 2009, but we are afraid that our expectations may have been set too high.  Other areas of the country are rebounding but there is a definite stalemate here right now.  So, if buying this season is your intention then I would jump off the fence NOW and make the most of the low interest rates as well as the lack of buyers.  You are in an ideal position  and I can't imagine a better buyer environment.  Be prepared to look at several places and be prepared for some seller's unwillingness to move in pricing. However, there are some that are flexible and are motivated to sell. So, call your local REALTOR and let's make certain you are maximizing your searches and prepared for  your purchase!   

So, if YOUR looking for deals in Northern Wisconsin's tucked away counties of Vilas and Oneida and the towns surrounding serene Eagle River, Wisconsin call your local expert Julie Paez @ !!

Copyright©by Julie Paez, All Rights Reserved,  Deals and Steals in Northern Wisconsin's tucked away counties of Vilas and Oneida and the towns surrounding serene Eagle River, Wisconsin.

Selling real estate in our current Eagle River, Wisconsin market place is showing certain challenges in Northern Wisconsin.  As we head into the second half of our year, normally known as our busy season, we are seeing several trends appear in our ever changing market.  Doing business today is not only a challenge getting a prospective buyer to make an offer but then trying to hammer through all the details that follow. As always, working with a license REALTOR who is knowledgeable about changing banking and appraisal standards is always best.

• One of the first problems in the Eagle River, Wisconsin market place is actually getting a buyer to look at your home.  While offers are down in number we are seeing that buyers know a value when they see it and if you want your home shown you must get it priced "ahead of the declining curve". Many agents like to appease their seller's with pricing and in some years that was okay because there were less homes on the market and prices were rising so you had more demand for everything.  This market is different.  We have loads of supply and a small number of buyers so if you want to sell you MUST be as attractive as ever. Unfortunately, that attraction comes from pricing. Price it ahead of the curve so it stands out against the competition.

• So, you get an offer and you already feel as if you have made concessions in pricing so what do you do when they don't come in as high as you would have liked? You have your REALTOR re-evaluate pricing and see if there are any new or recent comparable since listing your property, and then you decide truly where your bottom line is and how much you want to sell.  This is very important b/c offers come far and few between and if this one does not work you have to be prepared to be on market for a lengthier amount of time and if the decline continues you may end up selling for less than what you are at now.  You should also have your REALTOR discuss with the agent working with the buyer what their motivation is.  This is key in this market because we are seeing more buyers walk after making one attempt at purchasing and if the Seller does not concede to a price they deem appropriate they simply walk away to another property.

• Buyer's are buying with their pocketbooks and NOT their heartstrings and this is making a huge difference in pricing and commitment to an offer to purchase.  They are shopping amenities and looking at homes for features rather than charm and ambiance.  Talk to your REALTOR about where you stack up against your competition in these categories and price appropriately so you are selling yourself and NOT your competition!  Another way to think of this is to realize they are not buying the emotions you have wrapped up in the parcel. You must try and separate yourself from the transaction, this will help you to avoid having your personal pride and emotions afflicted by the entire negotiation process.  Again, this is something your REALTOR should be able to coach you through.

• So, now you have an accepted offer and you must get through the grueling inspection, appraisal, and lending portions of the process to get to a closing.  These issues can cause more stress to seller's than the actual negotiation process.... Be prepared for items to come up .. no home will go unscathed by a good home inspector, so be proactive and have your own done when you first list. This will help you to understand how it works, see what inspectors, look for, and give you a to do list so you have everything completed when an offer comes in. The appraisal and lending processes have also changes quite a bit recently.  We are hearing that appraisals can take 4-6 weeks to be completed, and are being completed by out of town appraisers who are unfamiliar with our properties so this can take longer and be a source of aggravation for our seller's...  Lastly, we have the lending process and we are beginning to hear stories about lender's only using 80% of appraised value. So, we are an ever changing market place...

So, when selling your home in beautiful Eagle River, Wisconsin  start by working with a full time, professional agent that is trying to get you ahead of the market curve!. Northern Wisconsin real estate is experiencing a different market and you need to know what is happening in your neighborhood if you want to sell in 2009!

Copyright©by Julie Paez, All Rights Reserved, Selling your home in Eagle River Wisconsin's market place