About Vilas County, WI

At least it is not going down! The blue line is new listings while the red line represents sold units. A definitive trend has evolved this summer and to REALTORS and sellers this will come as no surprise. The volume was down in the summer of 2008 to around 120 units per month (homes and condos). This summer, it's hovered around 75 per month, roughly a 35% drop. The summers of 2005 through 2007 saw averages in the 200 units per month area. So, we are moving approximately 37% of the homes that we were in previous summers.

The news is not all negative. The 84 units that sold in August were the most sold since October of 2008. As far as the year-to-date numbers, the entire MLS is roughly 33% down from 2008 but that is better than the -45% we were down earlier in 2009. We are digging ourselves out but at a sluggish pace.

Interestingly, the market below $200,000 and above $1M are the most active (or lease inactive if you prefer). The stimulus program is helping those in the lower market. There are some great values out there for those who have been waiting on the sidelines.

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!

There are market segments that are doing well. Then there are some that are not doing so well. Here is a chart of home sales the past 12 months compared with 2006.

Price Range Listed 2009 Sold 2009 Ratio Listed 2006 Sold 2006 Ratio

$0 - $200K 1169 442 37.8 1293 654 50.5

$200K-$500K 1076 225 20.9 1136 430 37.8

$500K - $1M 318 42 13.2 270 84 31.1

$1M and up 82 12 14.6 66 12 18%

This chart illustrates what market segments are hurting the most. The $500,000 to $1M home market is off by 50% from 2006. This represents the "lake home" market. The $200K to $500K is down from 430 units to 225 units. The luxury $1M market is off but unit sales remain the same.

Some good news here is that showing activity is way up. Perhaps we will see a robust fall? There has never been a better time to be a buyer!

For the first time in many months, it can finally be said that more homes sold last month in Vilas County, than for the same month in the previous year. The increase for June 2009 was slight (only +2%), but we'll take positive improvement any time. Perhaps we have seen the bottom after all.

The state transfer tax collected for the month was down -14%, which means that even though a few more homes were sold this year, the prices that the buyers have been willing to pay have been lower. Not necessarily an indication of a 14% drop in market value, but more a barometer of the PRICE RANGE of the homes that are moving.

Activity is getting stronger, but the buyers we're seeing are those looking for low-end priced properties, and this is pushing the transfer tax collection lower.

In the end, the lack of buyers in the mid-range price areas ($400K - $750K) will cause values to slip, as inventory in this segment remains robust.

Personally, my 2009 business is much better than last years. And, even though year-to-date sales in the county are off 25%, I'm seeing strong growth and much better buyer and showing activity. Let's hope it continues!

It's a PHENOMINAL time to buy property in Northern Wisconsin!

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.