August 2009 Market Update / Vilas & Oneida Counties; Northern WI

Yes, I haven't been "blog side" in a while - it's beacuse I have been quite busy working on several closings that have taken place in the past few weeks. This has been a welcome sign of an improving market, and certainly, a better year for our team than 2008.

County statistics still show that 2009 sales are behind 2008 year-to-date, but I believe that those numbers will improve as the year continues. These figures are the result of a painfully slow winter and spring season; only since about May 1st have we seen better traffic and more showings and offers.

Still, we are way off the pace that we had been accustomed to in the mid part of the decade. Prices and values continue to decline, albeit much less than in other parts of the country.

The sunset of the $8000 stimulus plan may help us pick up a few lower price point first time buyers before the end of the year, and recent "stability" in the stock market, coupled with better-than-anticipated economic news may move some buyers off the fence and into their recreation home or property.

The next 90 days is usually our peak selling season. We'll see if 2009 holds true to tradition.

It is a GREAT time to buy!