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!!
Thank you so much for your time and your business. and for LISTENING!
Happy House Hunting!!!
Julie Winter-Paez Broker/Owner, CRS, GRI
ReMax Property Pro's, LLC
602 Michigan St. PO Box 1058
Eagle River WI 54521