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

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 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. 

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 

Kentuck Lake Deam Property in Eagle River, WI

This Kentuck Lake Dream property in Eagle River, WIoffers 3 bedrooms- one being an amazing lakeside main level master -  3.5 baths and defines what TODAY'S buyers are looking for. It is a statement in luxury and offers the best of lake side living. From the moment you enter the home through the covered deck you are greeted by natural hard pine wood floors that lead you into the great room and the wall of windows with western exposure & sunset views of Lake Kentuck.

The custom kitchen offers stainless steel appliances, lake views and loads of upgrades as well as plenty of space for entertaining family and friends. The great room is accented by a huge stone wood burning fireplace that is the centerpiece of this amazing room.

The master suite just off the great room allows you to wake up to views of the lake. The home spares nothing and also offers an office on the main level as well as laundry facilities. The upstairs holds 2 over sized guest rooms with ample closet space and both have lakeside views. The finished lower level offers a walkout, loads of storage, a sauna room, third full bath as well as access to the attached garage and with large windows for light this room has multiple uses.

This is only the beginning!  You also have an amazing screened in porch/patio with an outdoor wood burner off the kitchen which these seller's use as additional living/entertaining space.  There is also an outdoor shower for family and guests as they come off the lake, amazing features like built in bookshelves, and a three car attached heated garage with workroom and a built in dust control system. 

This lot is one of the most level I have seen on Kentuck Lake and is over 2 acres in size with 250 feet of frontage. There are maybe 10 steps to your crystal clear frontage so this is the perfect spot for any buyer!! In fact this lot was used as a private boat launch by the previous owner!

It is tastefully landscaped with a natural clearing to the lake and there is a built in sprinkler system for ease of care. This parcel also has a 1/36^th interest in an out lot so you are insured your privacy forever. This is a must see home for anyone looking to be on a premier lake with an amazing home.

Kentuck Lake offers 957 acres of full recreation as well as excellent fishing.. It is over 40 feet deep and is a clear water lake.. This lake and this home are both of the highest quality and this is a must see property for the discriminating buyer... Come to this Kentuck Lake Dream property just outside of Eagle River Wisconsin and see what could be your next home.

 For more information on Northern Wisconsin Real Estate just click here.

Copyright©by Julie Paez, All Rights Reserved, Kentuck Lake Dream property in Eagle River, Wisconsin.

Real Estate in Northern Wisconsin is starting to pick up!  More specifically my area of Vilas and Oneida counties as well as the surrounding Eagle River area!!!  Blame it on the media, blame it on the stock market or blame it on the new commander in chief... I don't care who takes credit I am just glad to see offers getting put down in writing!  Over the last 30 days we have seen approximately 45 offers get accepted in my area of Vilas and Oneida counties compared to 10 the month before. The better news is that our supply is coming down and buyers are starting to believe the bottom is NOW!!

I still, personally, have buyers unwilling to believe that this is true but as they continue to miss out on housing opportunities I know their ideas will change.  Until these properties close we have no way of knowing what our average value is but from my personal experience, while the buyers are writing offers lower than normal they are not necessarily get accepted at discounted prices.. Northern Wisconsin is correcting their pricing.

As the snow melts we generally see a pick up of activity but seldom a buzz like this.  We generally see our true summer kick off start in June, rather than in May, but as local experts educate sellers as to the market conditions and how to price their homes for sale we are seeing the results.  Allot of the homes "popping" are in that 100k to 300k range but there were a couple of exceptions and those exceptions this early in the season are welcomed.  This is especially true because the higher end market is what we completely lacked through the last selling season in Vilas counties real estate market. 

Things to remember in this market for buyers: 

• Ask for Buyers agency, no DEMAND it.. Now that the market is starting to move you want to be abreast of recent homes sold comparable to what you are looking at to help you determine value.
• Keep in contact with your REALTOR and when they say to come and look at a property before its gone.. simply listen...
• Remember, when you see a value out there the chances are that all the other buyers out there in cyber-space do as well so move on the property and don't hesitate.
• Pre-Approval.. Talk to your banker so when you are ready you have NOTHING holding you back and a letter from a bank can make your offer far stronger than your competitions!

For more information on buyers agency check out this recent blog by clicking here

So, it is with optimism that I write today because Real Estate in Northern Wisconsin is starting to pick up and I am willing to give credit to anyone wanting it!  In my humble opinion it is the agents on the forefront continuing to educate sellers as to how to make their home stand out in this market price wise that are making the true difference and as we all know with a decrease in supply our demand should increase as well. So, buyers, jump off that fence and into the Northern Wisconsin real estate market before it is too late!

Copyright©by Julie Paez, All Rights Reserved, Real Estate in Northern Wisconsin is starting to pick up!!

What determines real estate values in Eagle River Wisconsin???It is not the job of a REALTOR to tell you what your home is worth because, quite honestly, it is worth many different things to many different people.  The appraiser will put their market value on it, the assessor will put a tax value on it, the insurance company will place a replacement value on it and the prospective buyer will put a purchase value or and you will place sentimental value on it. 

The difficult job of the REALTOR is to determine what that value will be in the current market based on the current conditions, the competition, and the potential value to a prospective buyer. The best price obtainable in any market can only be determined by thoroughly watching the market and analyzing the competition. In the final analysis, the market dictates value, based on current conditions, the current supply of buyers and the current competition. In Eagle River Wisconsin this is most certainly true!

The key thing to remember, as a seller, is that buyer's are back to comparison shopping.  We are no longer in a seller's market where buyers were scrambling to grab properties as they hit the market.  We are in a buyer's market now and buyers are, again, looking at multiple homes at a time before making a decision. Many even writing offers on multiple homes because price is their biggest motivation to the purchase process and they are not committing them selves to one home because they want to be able to negotiate without having sentimental attachments.

All of this means that, basically, the best obtainable price for your home will be determined by the market, not the REALTOR, or the appraiser or the assessor.  The buyer will shop based on amenities and features of the home and it is unlikely that your home will sell for more than could be paid for another home with similar features and amenities. You may, in fact, end up helping your competition sell if your agent does not properly position you against the competition.

So, pricing is the key in this market and what determines real estate values in Eagle River Wisconsinis not the agent, the appraiser, or the assessor ...it is the buyer and what they are willing to pay.  So, you want to make certain that your home finds a niche where it sparks interest and showings so valuable time on the market is not lost with your home over priced. 

For additional information on what can affect your market value in Eagle River Wisconsin just click here.

Copyright©by Julie Paez, All Rights Reserved, What determines real estate values in Eagle River, WI ???