Julie Sells Dreams in Wisconsin's beautiful Northwood's

Vilas & Oneida County Home Sales in Units -2006-2012

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Mon, 14 May 2012 18:10:05 -0700

Northwoods’ News

Julie Winter-Paez– Broker Coldwell Banker Mulleady REALTORS, May 9, 2012

_{This is our monthly look at volume of homes sold in Oneida and Vilas Counties. Some good news here is that we sold 75 homes in April of 2012. This compares with just 49 homes in 2011 and 63 homes in April of 2010. So, 2012 year to date we have sold 239 homes. In 2011, we sold 178 homes in this same period of time. That is a difference of 61 homes or an increase of 25%. In 2010, 183 homes were sold so we have a nice positive trend going.}

_{A bit less positive news is that this increase in unit sales has not meant that we have seen increases in prices. We are still seeing very low offers and what is selling are homes that are priced well below market value. We still have some bank owned homes and we have a lot of sellers who have been on the market for over 500 days and are accepting very low offers. Once we get through this inventory and assuming that demand remains the same, we can expect market forces to start to drive prices upward. Overall, the trend is positive and that is a good thing.}

_{One thing that I will point out is that some markets are moving better than others. The $300K and under market is moving better than the $300K to $750K market. The mid-market remains tough as so many of these buyers were utilizing home equity loans and lines of credit on their primary residences to purchase second homes. The equity on their primary residences is largely gone and so is their ability to buy a second home.}

_{Markets like Phoenix are now very active because investors now make up 45% of the buyers. It really is an opportune time to be buying real estate.}

1086 South Sand Lane, Phelps, WI

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Mon, 14 May 2012 14:48:07 -0700

Single Family Det, Ranch - Phelps, Quick Links Eagle River Homes for Sale Search All Homes For Sale Three Lakes Homes for Sale St Germain Homes for Sale Land O Lakes Homes for Sale Free List of Foreclosed Homes For Sale Avoid Foreclosure What is your home worth? See Property Details Call: 715-891-1236 for more information on this or any other property. Information valid for the date of this posting only. Please contact us for the most current information and status of this property. Visit Property Website Courtesy :
Julie Paez
julie@juliepaez.com
715-891-1236
Single Family Det, Ranch - Phelps, WI

This wonderful lake home on Big Sand Lake offers 3 bedrooms, 2 full baths and a picturesque setting on one of the BEST lakes for fishing and recreation in Northern WI. The upstairs has been completely remodeled and updated offering you hickory floors and knotty alder wood cabinets and all newer appliances as well as two recently remodeled full bathrooms. It offers a level lake approach, full basement, partially finished w/a walkout hillside and a large two car garage. The roof, furnace, septic system and siding are all newer and these folks are pricing it for TODAY'S market about 14k UNDER 2011's Fair Market Value. This is a must see if…

1086 South Sand Lane,
Phelps, WI 54554
3 Bedrooms
Bathrooms: 2 full
List Price : Get Current Price
Living Area Approx : 1200 I want to see this property.

Market Statistic as of March 28, 2012 in the Northern WI counties of Vilas and Oneida!

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Thu, 29 Mar 2012 08:21:54 -0700

Market Statistic as of March 28, 2012 in the Northern WI counties of Vilas and Oneida!

We are now almost finished with the first quarter of the 2012 year and with the jumpstart into spring we have had it DOES feel like we have had a jump start into an early selling season. I am always hesitant to be TOO optimistic but I can hardly help myself this year. Heck, I seldom can help myself, but there are signs I am seeing of good activity so far in 2012. Let me go over with you what I am seeing.

For the Northwood’s counties of Vilas and Oneida, I am seeing movement in my market segment in both off and on water homes as well as vacant parcels! Finally, some optimism….First, the areas I analyzed were the Townships of Land O Lakes, Conover, Eagle River, Lincoln, Washington, Cloverland, SugarCamp, Three Lakes and St Germain. If you have interest in any other area please let me know and I can study that area for you as well…

So, let me start with vacant dirtJ

14 parcels sold in my immediate marketing area in 2011: of those 3 were on water, 11 were off water, the average sale price was $51,300 and the average days on market ( DOM ) was 514.

IN 2012 there have been 15 units sold so far this year: 6 were on water, 9 were off water; the average sales price was $67,700 and the average DOM was 337. Currently there are 10 with accepted offers about 5 of which have some waterfront.

So for land total sales are up slightly, average price is up, days on market is down AND amount of higher end parcels ( waterfront ) is UP!

Now Off water home sales:

In 2011 there were 19 units closed by March 28^th, the average price was $106,666. And the average DOM was 227. Of those 19 closed sales; 7 appear to have been bank owned and 12 were not. The highest off water sale was 250k.

Now Off water home sales for 2012. So far there have been 16 units closed by March 28^th, the average price was $125,781. And the average DOM was 289. Of those 16 closed sales; 5 appear to have been bank owned and 11 were not. The highest off water sale was 200k. I also want to note that there are currently 13 with accepted offers TODAY and of those 13 only 3 appear to be bank owned.

So off water home total sales are slightly down BUT non- bank owned sales are up; average sales prices are UP, and there is a high number of transactions due to close with a limited number of those being bank owned. Again, this is a good sign to me as well.

Lastly, the on water home market:

In 2011 there were 12 units closed by March 28^th, the average price was $416,627. And the average DOM was 363. Of those 12 closed sales; 2 appear to have been bank owned and 10 were not. The prices range from 90k to 2,000,000.00

Now On water home sales for 2012. So far there have been 14 units closed by March 28^th, the average price was $445,142. And the average DOM was 274. Of those 14 closed sales; 4 appear to have been bank owned and 10 were not. The prices range to 3,325,000. I also want to note that there are currently 16 with accepted offers TODAY and of those 16 only 4 appear to be bank owned.

So ON water home total sales are UP; average sales prices are UP, and DOM is down. There is an increase in bank owned sales in this market but they are going fast which I believe is why we see a decrease in DOM. There is also a high number of transactions due to close which I also believe is a good sign of this year’s market. Plus a positive side effect of the current weather we are experiencing.

Buyers are looking and buying but they are price conscious and striking when they see a deal. Let’s get our self in a good position.

Year End Statistics for the Northern WI counties of Oneida and Vilas!

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Thu, 08 Mar 2012 19:39:26 -0800

Year End Statistics for the Northern WI counties of Oneida and Vilas!

Vilas County Data

Off Water

On Water

Sell/List

Sell/FMV

Sell/List

Sell/FMV

Arbor Vitae

0.93

0.82

0.87

0.73

Boulder Junction

0.9

0.85

0.87

0.82

Cloverland

0.91

0.73

0.89

1.01

Conover

0.89

0.54

0.92

0.95

Eagle River

0.9

0.75

Lac du Flambeau

0.89

0.93

0.89

0.83

Land O Lakes

0.9

0.75

0.9

0.81

Lincoln

0.91

0.89

0.93

Mani Waters

0.7

0.54

0.78

0.72

Phelps

0.88

1.07

0.91

0.94

Plum Lake

0.9

0.88

0.9

0.91

Presque Isle

0.93

0.58

0.88

0.82

St. Germain

0.92

0.8

0.91

0.82

Washington

0.86

0.7

0.89

0.63

Winchester

0.9

0.73

0.83

0.72

Oneida County *items no data available in MLS

Off Water

On Water

Sell/List

Sell/FMV

Sell/List

Sell/FMV

Cassian

0.91

0.58

0.91

0.84

Crescent

0.91

0.74

0.86

0.81

Enterprise

0.88

0.64

0.93

0.9

Hazelhurst

0.92

0.84

0.77

0.83

Lake Tomahawk

0.95

0.72

0.88

0.86

Little Rice

0.92

0.83

Lynne

0.96

0.93

Minocqua

0.92

0.88

Monico

0.97

0.54

Newbold

0.93

0.85

0.91

1.03

Nokomis

0.94

0.78

0.92

0.86

Pelican

0.92

0.83

0.94

1.03

Piehl

PineLake

0.91

0.79

0.83

0.74

Rhinelander

0.93

0.84

0.91

1.11

Schoepke

0.81

0.58

0.89

1.05

Stella

0.94

0.84

0.91

0.63

Sugar Camp

0.92

0.78

0.95

0.96

Three Lakes

0.85

0.88

0.89

1.17

Woodboro

0.87

0.43

0.89

0.76

Woodruff

0.92

0.95

0.92

0.74

VILAS COUNTY: The TOP table looks at Sell/List Price and the Sell/FMV in the Townships of Vilas County for both on-water and off water homes. There were 395 homes and condo’s sold in Vilas County in 2011 ( this is up from 363 units in 2010). When one looks at the table, it becomes apparent that there are some tremendous bargains and buyers are taking full advantage of their leverage. Only two township had an average sale price ABOVE FMV (Cloverland On Water and Phelps Off Water ) and in both of these cases there were significant improvements to the land that had not yet caught up with the assessor.. I would also note that the overall average Sell to FMV is roughly 82% for On Water and 82.5 % for Off Water. I would also point out the while Washington is really low with Sell to FMV when I take out the one large sale on Catfish Lake that sold for roughly 55% of Tax based value that percentage jumps from about 63% to 78%. . Also of note Vilas counties average sale price was down about 3% from 2010’s average sales price.

ONEIDA COUNTY: The BOTTOM table looks at the Sell/List Price and the Sell/Fair Market Value in the townships of Oneida County for both on-water and off water homes. There were 453 homes and condos sold in Oneida County in 2011 (this was down about 30 units from 2010) . The table is quite similar to the Vilas County table. It is apparent that there were some tremendous bargains out there. There are four cases where the property sold for above FMV (Newbold, Pelican, Rhinelander and Three Lakes on-water). The lowest point on the table is Woodboro off water where properties sold at only 43% of their assessed value. In fairness, Woodboro only had 5 homes sell off water and it appears that three of them were bank-owned sales. I would also note that the overall average Sell to FMV is roughly 78% for On Water and 76% for Off Water. Also, I’d like to note that Oneida Counties average sales price was up about 3% over 2010.

There was a time not long ago when more than 75% of homes would sell above the assessors’ fair market value. That trend has clearly reversed and the vast majority of homes in the county sell for 80% of their fair market value.

What does this mean? In Wisconsin, property taxes are paid in arrears. Property taxes are based upon the property value as of January 1. Why the huge variations from township to township? If the town recently revalued, it should be a higher (more accurate) value. If there were several bank owned sales in an individual segment, that will bring a town down. Some towns had many sales and some did not. Also, each township contracts with an independent assessor. Assessments (revaluations) are not done annually. For a seller, it is not good news. If one looks at the assessed value, homes are selling for around 80% of this value. Can I hear a collective “ouch”!? For the buyer, it is great news as the there has never been a better time to be a buyer. Interest rates remain at 4% and below and the selection is excellent! Years from now, many will regret the opportunity that today’s market presents.

Year End Statistics for the Northern WI counties of Oneida and Vilas!

Bank Owned Statistics for Northern WI Year End 2011

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Sat, 21 Jan 2012 21:44:41 -0800

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 also seperated out waterfront versus off water sales again to see if there appeared to be a rise there and there has been a small increase in that segment but I beliebe that was because Wild Eagle went into bankruptcy and about 8 of those waterfront sales were there at Wild Eagle. In 2009 the waterfront portion of bank owned sales was 25% versus 23% in 2010 and 27% in 2011. So, in now way do I beieve that bank owned sales are on an upward trend in Northern WI. there are definitely part of our market but I do not believe they are will consume it. If you are looking to buy a great deal - we definitely hae them - however they are all not disguised as bank owned. Let me know specifically what you want and I will help you find it!

So to highlight some info:

Average list to sell ratio is 73% in 2011
Average sale price was 83,000 roughly in 2011
Average Days on Market was under 100
Average amount of waterfront distressed sales was 27% in 2011

So, formore info on Bank Owned sales, how to purchase the strategically and to get on an updated list of them contact a local professional or visit my website at : www.EagleRiverHomeFinder.com

ActiveRain / Adobe EchoSign Challenge: What Does Trust Mean to You?

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Sun, 15 Jan 2012 00:37:17 -0800

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

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

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Sat, 14 Jan 2012 23:50:41 -0800

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!

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

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Sun, 15 Jan 2012 00:06:14 -0800

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

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

Bank Owned/Short Sales and how they affect the Vilas and Oneida WI Real Estate Markets as of 11-16-2011

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Thu, 17 Nov 2011 21:23:46 -0800

Bank Owned/Short Sales and how they affect the Vilas and Oneida WI Real Estate Markets as of 11-16-2011

The BIGGEST question I am asked by Buyer’s is: “How can you help me find that great bank owned purchase?” The biggest question I am asked by Seller’s is: “How are bank owned sales affecting my market niche?”

There is always a lot of interest about foreclosures and short sales especially when it comes to our water front market. The fact of the matter is that there simply are not that many lake homes that get foreclosed. The chart above shows non-bank owned vs. bank owned sales for the Northwoods MLS. The total numbers are this: Thus far, there have been 975 unit sales in Vilas and Oneida Counties. Of those, 117 were foreclosures or short sales (12% of the market). Of those 117, only 25 were on water (2.5%). Further breaking that number down, only 5 sold for above $250K. I call this the premium lake home market and these 5 units represent 0.5% of the market.

When I look at the total year of 2010, I saw 1144 total unit sales with 123 bank and short sales (10.7%). There were 25 units sold in 2010 that were on water (2.1%) and 11 homes sold for above $250K (0.9%).

What does this all mean? It looks as if the number of foreclosures is increasing as a percentage of sales. The reality is that the raw number of sales appears to be more of the problem (975 vs. 1144). We still have 45 days left in CY2011 so we may make up the 169 unit shortfall in unit sales. The number of foreclosures seems to be rather steady. We certainly are not seeing a spike up or down in the number of foreclosures and short sales.

If you are looking for a “steal” on water, they do exist. They simply are not ALWAYS bank owned properties. There are many sellers out there that are highly motivated and those are the homes that are moving at this time. This is great news for buyers. It is not the best of news for sellers. So, again get your ducks in a row and be prepared to pull the trigger so to speak when something becomes available or is REDUCED into your price range because when they do become available they are often highly sought after:)

Bank Owned/Short Sales and how they affect the Vilas and Oneida WI Real Estate Markets as of 11-16-2011.

Market Statistics for Vilas and Oneida Counties in Northern WI as of 10-7-2011

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Mon, 14 Nov 2011 23:05:40 -0800

Julie Paez - REALTOR - Coldwell Banker Mulleady REALTORS, October 7, 2011 Market Statistic for Vilas and Oneida Counties in Northern Wisconsin

In a repeat performance to last month’s sales figures; it isn’t terrific but it is a nice trend. The red line represents the number of homes sold by month in Vilas and Oneida Counties. In September, there were 90 homes sold in Oneida and Vilas Counties. In 2010, 93 homes sold and in September of 2009, 78 homes sold. In August, there were 96 homes sold. That compares with 94 homes sold in 2010 and 84 homes sold in 2009. These numbers are not super but the red line is becoming a bit more consistent and I believe we are on track to have a better October than last year.

Another trend we are seeing is the reduced number of listings. In 2007 and 2008, there really was a lot of inventory. We sold a lot of homes but the rate at which we sell homes (called the saturation rate) was quite poor. We still are far from healthy but we appear to be heading in the right direction and Seller’s that really have no motivation to sell are slowly not returning their homes to the market.

What can one do as a Seller in a market so heavily favoring the Buyer?

The most obvious is to reduce the asking price. I know how painful that can be and it is not always the best solution. I am always telling you that “it’s a price war and a beauty contest and you have to win both”.
If you are already priced competitively (I would suggest actually visiting competitive listings) or allowing me to set up a manual search for you so you can actively see your competition and what they are doing with pricing daily. You will get listings like a Buyer does and this really keeps you up to date with the current market.
Next, you can consider how you look to the Buyer… or staging. Staging is something that is commonly done in more urban markets. It is not very common here at this time but there are people who can help. Stagers can make suggestions from paint and decorating tips all the way to bringing in pieces of furniture to present your home in the best possible light. I have taken several staging classes and am always ready to provide additional homework for my SellersJ

Mother Nature has blessed us again with spectacular color. The fall season never disappoints here in the Northwood’s! Come up and enjoy th colors in the beautiful northern Wisconsin counties of Vilas and Oneida!

Historic Conventional Mortgage Rates and Today's Market, Eagle River, WI

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Fri, 04 Nov 2011 18:00:18 -0700

The chart below shows Historic Mortgage Rates and Historic recessions and it is a great example of why we should be buying real estate in today's market.

I said before that these are extraordinary times. This chart shows the bellweather since 1970 and there are several points I would like to make.

First I wish to show here is how low the rate is relative to history! It is under 4% at present! Why aren’t people buying! The chart also shows that technically we are not in a recession (gray areas). The Federal Reserve Economic Data of St. Louis provided the chart and surely they know if we are in a recession or not.

Second- It shows the recession of 2008-2009 and the post 9-11 reccession. It shows the mortgage rate peaks of 1982 that were over 17%. Those were tough times to be selling real estate. It also shows the oil embargo induced recession of 1974.

Considering that mortgage money is available and is at historic lows and that there are many motivated sellers out there right now, why are there not more buyers? Many people are out of work or are underemployed and in no position to be buyers. However, there are many who are economically sound and who could be making huge potential investment gains by buying real estate at this time. I truly believe that many buyers are convinced by the never ending negative press that real estate is horrible and why would anyone ever consider purchasing real estate at this time. Traditional news channels have not been kind to real estate or any type of investment to speak of. They badger the government because we are running out of Medicare yet offer no real long term investment plan for the average citizen. This chart and the current state of the real estate market – in my opinion – offer’s a fantastic investment plan: purchase real estate for rental purposes and diversify your portfolio. Any good account can tell you the tax advantages and any good REALTOR can get you set up on a search for rental potentials.

If you tire with renting then simply follow the other old rule: buy low and sell high. There is no simpler axiom and one that holds true no matter what sort of economy we are in.

Real estate has always recovered. It is not a matter of if. It is a matter of when. So, the truth about the market is, that it is the absolute ideal time to be a buyer. I think the more positive people can be about real estate, the better off we all will be. As always – call me with ANY questions, check out my website at www.eagleriverhomefinder.com, my blogsite at www.juliesellswisconsin.com and feel free to pass this on!

Real es The chart below shows Historic Mortgage Rates and Historic recessions and it is a great example of why we should be buying real estate in today's market.

Market Stats for the first HALF of 2011 in the Northern WI markets of Vilas and Oneida County

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Thu, 28 Jul 2011 00:04:51 -0700

What's happening in the Northern WI markets of Vilas and Oneida County? Well, we are half way in and this is what is happening so far or here are the Market Statistics for the first HALF of the year in the Northern WI real estate markets of Vilas and Oneida County.

First - let's look at Vilas:

In the single family market there are currently overall 923 active listings out there in Vilas County and up to June 30^th ; 121 single family homes have sold with an average sales price of $223,445. Of those 121 sold 61 were ON water with an average sales price of $329837 ( last year 58 homes sold with an average price of $299844 ) and 60 were off water with an average sales price of $115220 ( last year 78 off water homes had sold but the average price was $115690 but remember last year had the first time home buyers stimulus)
In the vacant lot market Vilas County currently has 886 vacant lots listed ( 563 Off water and 323 On water ) Of those lots 28 on water lots have sold and the average price is $94042 ( versus 20 sales last year with an average price of $167000). And 24 off water lots have sold with an average price of $30460 and an average of 4 acres per lot ( versus 32 sales last year with an average price of $60000 with an average acreage of 20acres )
Lastly the condo market: Vilas County currently has 175 active condo’s for sale. There have been 27 sold with an average price of $139406. Last year there were 22 that sold with an average price of $213416

Now for Oneida County :

In the single family market there are currently overall 972 active listings out there in Oneida and up to June 30^th 174 single family homes have sold with an average sales price of $167330 Of those 174 sold 51 were ON water with an average sales price of $301751 ( last year 68 homes sold with an average price of $292203 ) and 123 were off water with an average sales price of $111595 ( last year 149 off water homes had sold but the average price was $116844 -but remember last year had the first time home buyers stimulus)
In the vacant lot market Oneida County currently has 838 vacant lots listed ( 433 Off water and 405 On water ) Of those lots 20 on water lots have sold and the average price is $107891 ( versus 26 sales last year with an average price of $132236). And 48 off water lots have sold with an average price of $51873 and an average of 19 acres per lot ( versus 52 sales last year with an average price of $159000 with an average acreage of 119 acres )
Lastly the condo market: Oneida County currently has 143 active condo’s for sale. There have been 12 sold with an average price of $225500. Last year there were 16 condo’s sold with an average price of $176200

Overall, the off-water singlefamily market has not moved much in the past few years other than the burst last year with the stimulus. Vilas County dropped some and this could be due to a number of lower priced residential condos in Eagle River that sold in 2011. Most of these condos sold for under $80,000.

The on-water market is a different story. Vilas County average waterfront home sold for $419K in 2008. Thus far, the average waterfront home sold for $329K in 2011. That works out to be about 24% down. The average Oneida County waterfront home sold for $390K in 2008. The average waterfront home sold for $301K in 2011. That is about 24% down. Perhaps Northwoods waterfront was overpriced in the mid 2000’s. Maybe the lakefront buyer does not have the money that they once had. I would also add that the lakefront seller may be distressed and they are reluctantly accepting lower offers.

The volume of on-water sales is rising ever so slightly. Hopefully, that will take some pressure off of waterfront home sellers. Any sort of growth in the private sector would really help the recreational real estate market

So, as you can see there are some markets up and some down. The other interesting item I noted is regarding the higher end plus 750k market. Last year at this tie there had only been one home sold by June 30, 2010 in that price point BUT this year there have been 8 with an average sales price of $1000300. So, while there has been a lot of heavy negotiating in this segment there are sales which I believe is a great sign of market confidence.

We also need to remember that we did get off to a VERY cold spring/summer so we could still be behind several weeks and I will watch what happens as we start to head for fall. If you have any questions about a different market up here or want to break down a different segemnt of this market please check out my website www.eagleriverhomefinder.com or my blogsite www.juliesellswisconsin.com for more information. That is were we are at for Market Stats for the first HALF of 2011 in the Northern WI markets of Vilas and Oneida County.

Northern WI Custom Log Lake Home near Eagle River, WI!

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Wed, 27 Jul 2011 23:33:19 -0700

This Northern WI custom log lake home located near Eagle River WI has the feeling of Colorado Ski Lodge! It is a must see for the discrimiating Buyer!

Lac Vieux Desert Dream! This unique property is truly in a league of it’s own. It is reminiscent of a Colorado ski Lodge and offers both the charm and warmth of that setting coupled with ease of use and privacy. This is a must see property for the discriminating Buyer. The 900 foot winding drive leads you into this spacious full post and beam log construction home that is filled with so many unique building features that you will be delighted for years to come.

The custom log home's great room has the most stunning soaring ceiling that I have ever seen with sky lights and a fireplace that encompassed not only the great room but also the master suite and the exterior deck.
Meant for entertaining some of its’ unique features include a split bedroom floor plan w/stunning lakeside master that has a huge walk in closet, fantastic block glass shower, and a claw foot bath tub.

It also offers lake views and a deck entry way. The great room not only boasts vaulted ceilings but it is meant to be used as you can tell by it’s designer kitchen. It has a JennAire 6 top range, a double oven, Bosch appliances, a butcher block island and granite counter tops long enough to accommodate a seating of 8. Truly meant for entertaining this home is set up for ease of use with its dining area, pantry and copper topped bar right in the heart of all of the action.

This level of the home also offers you a screened in porch, a second bedroom and bath and a stunning wall of windows that leads right out to your lake side deck which covers the length of this sprawling home.
The upper level has an additional 2 bedrooms (one being about 23 feet long that accommodates 6 custom log beds)) and another bath.

The lower level, which is almost compleletly finished, offers another 2 bedrooms a fantastic workout room wired with surround sound and a large luxurious bathroom with mosaic inserts and a full stone shower. The walk out is stunning and again the lake views spill over into the home.

There are also 2 storage places tucked downstairs and an entry into the garage from the lower level for your ease of use. This property also offers a delightful guest /in-law suite with it’s own private entrance. It offers 1 bedroom and 1 bath, it’s own natural gas stove, full laundry facilities, a full kitchen and it’s own deck.

The grounds here are stunning and the lot offers a perfect beach, stunning sunsets, over 4 acres of privacy and a level slope to fantastic Lac Vieux Desert. This lake offers OVER 4200 acres of boating pleasure and it straddled the Wisconsin/Michigan border and is known for excellent fishing!
Add to all of this a 3 car attached oversized heated garage with built ins and a snowmobile door and this is truly an amazing property that you have to see to appreciate.
This unique estate has been loved and maintained by this family for years and it has truly been their getaway for all 4 seasons of recreation: from boating in the summer to snowmobiling in the winter. They have slept OVER 20 people at a time in this home quite comfortably and it has been the gathering place for making a tremendous amount of memories. It is ready for new owners and new memories so come and take a look and see what is waiting for you on Lac Vieux Desert!

Again - This Northern WI Custom Log Lake Home near Eagle River, WI! is a wonderful property that truly must be seen to be believed! Please visit www.LacVieuxDesertDream.com for more information about this property.

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

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Thu, 14 Apr 2011 16:43:10 -0700

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.

What's Selling in Northern Wisconsin Real Estate? Ask the expert!

Julie Paez GRI, CHMS (Coldwell Banker Mulleady) — Wed, 16 Mar 2011 22:34:19 -0700

What's selling in the Northern WI counties of Vilas and Oneida???? Well, we are now almost ¼ of the way into this year and this is what I can tell you about what is moving....

Oneida County has sold, so far this year, 37 single family homes.

Of those 37 - 12 were waterfront. The average sale price is $168,106. The remaining 25 were off water and the average sale price there was $88,450.

Of all 39 of those homes there has not been one in either Sugar Camp or Three Lakes which I was surprised to see.

In Vilas County there have been 42 single family homes sold thus far this year.

Of those 42 - 22 were waterfront with an average sale price of 336,560. There was a large tract up in Land O Lakes that closed in January on Osceola lake for $2,000,000. It was 960 acres in size with over 5000 feet of frontage. If we take this one sale out of the equation the average sale price is $257,349. The remaining 21 properties were off water and the average sale price there was $112,740.

Now how does this compare to last year?????

We are seeing more activity in Vilas County than Oneida County which makes sense somewhat because this year there is no first time homebuyers credit.

Total home sales up to this point last year were 85 with 56 being in Oneida County and 27 in Vilas County.

In Oneida there were 56 total properties sold and 18 were waterfront with the average price being 256,741. The remaining 38 were off water with an average price of $120,414

In Vilas there were 28 total properties sold and 14 were waterfront with the average price being 313,461. The remaining 14 were off water with an average price of $128,421

So, we are seeing sales but buyers continue to be thrifty. REMEMBER, it is both a beauty contest and a price war in today's market. The good news is that with bonds rising interest rates should go down or remain stable but they should not be rise. So, if you're a buyer get geared up because there has never been a better time and if you are a seller you must price your home to sell today and you need to have it looking its best when you go to list.

So for information about "What's Selling in Northern Wisconsin Real Estate?" or for more information about gearing your home for a spring sale or for information about buyers agency just call Julie Winter -Paez or visit my website www.eagleriverhomefinder.com to search local listings.

Copyright©by Julie Paez, All Rights Reserved, " What's selling in the Northern WI counties of Vilas and Oneida???? Well, we are now almost ¼ of the way into this year and this is what I can tell you about what is moving...."