About Vilas County, WI

WWW.VACATIONLANDPROPERTY.COM

Lac Du Flambeau-Northern Wisconsin Real Estate. Specializing in lakefront homes, waterfront properties and vacant land for sale in Northern Wisconsin. I assist buyers and sellers in Minocqua, Woodruff, Boulder Junction, Lac Du Flambeau, Manitowish Waters, Hazelhurst, St.Germain, Presque Isle, Winchester, Park Falls, Mercer, Butternut, Eagle River, Three Lakes, Sugar Camp, Rhinelander, Crandon, Fifield, Phillips, Tomahawk, Lake Tomahawk and all communities in Oneida, Vilas, Iron, Price, Lincoln and Forest County Wisconsin. Updated property search. Search for listings in Northern Wisconsin. Search by lake or search by price.

NEIL PLUISTER (715) 367-7270 NEIL@VACATIONLANDPROPERTY.COM

Buying real estate in Eagle River, WI is going to require a full service agent who is working for you, getting you new listings and price reductions as soon as they hit the market. It is no longer the time for doom and gloom it is the time for watch, be patient and be ready!! In Northern Wisconsin,where I sell real estate, most sellers are starting to realize that if they want to sell they are going to have to be somewhat flexible with their pricing. Buyers are also starting to see that when something is priced at market value they better spring and do so quickly or the property will simply be gone. Eagle River, WI IS selling real estate it is just not business as usual...

According to MLS numbers in my marketplace in Eagle River, WI ( the counties of Vilas and Oneida) we have sold 13 waterfront properties since the first of the year. Those properties that sold were to in the 100-400,000 dollar range. From my experience with this set of buyers I know that they are ready to buy, have financing in order and know exactly what they are looking for. The key for these buyers is service and aaccessibility. They want to know what is hitting the market when it is hitting the market and they don't want to have to wait for information b/c they might lose a buying opportunity.

While it is true that both volume and sale price are down it is not what you would expect. Our average sale price is down about 8% but we are seeing list to sale ratios up to about 91%. The reason for this increase is that Seller's are starting to move their homes into market value range and when they do the buyers come quickly and with high offers. This alone is the reason to be prepared and be working with a professional in the area you want to buy in. In Eagle River, Wisconsin's real estate market it can mean the difference between getting that dream vacation home and not!

There are several things your REALTOR should be going over with you prior to even setting up a property search:

• How ready are you? Do you have financing in order? If the property you decide is a foreclosure whether or not you have a pre-approval letter could make the difference between you getting the property or someone else.
• Are you ready to write a good offer when your property comes available? Trying to low ball an already discounted property will surely waste precious time when you could be locking that property in for what you already know is a good and fair value.
• Know exactly what you want so you don't have to waste time shopping around when your ideal properyt does come up. This will eliminate you second guessing yourself. A good REALTOR will have no problem getting your feet wet in their marketplace.
• Let your agent know how and when to reach you if something does become available and you are perhaps at an alternate workplace or home office. If they can't reach you they can't let you know what's happening.
• Lastly, work with a REALTOR you trust and , I recommend, just one! Find someone who you believe is getting you accurate information in a timely manner and someone who talks to you about Buyers Agency and the agency relationship. This is so important because when someone tells you to make a good offer or that another offer has come in on a property you are considering ... you really want to believe them and this can be crucial in your decision making process. So, interview, ask questions of them like you would with any other professional and ask for testimonials. A good agent should be able to provide everything you need to start building that trusting relationship.

So, when you are thinking about buying real estate in Eagle River, WI. look for a full service agent it will make the difference, especially in today's Buyer's market.

For information on all Eagle River, and Northern Wisconsin listings and foreclosures go to this local resource.

Copyright©by Julie Paez, All Rights Reserved, When buying real estate in Eagle River, WI look for a full service agent, it will make the difference.

1^st quarter 2009 MLS sales figures have been compiled and the news is about what I’d expect. Coldwell Banker Mulleady Inc., our Minocqua office, leads the MLS at 6.9 million in sold volume through the first three months of 2009. The second place brokerage is at 6.8 million, and third place is 3 million +. This volume is approximately 25% below the same period in 2008, and certainly far below the levels of the peak years 2004 – 2006. Of the 500 + agents in our board, more than 200 have not yet had a real estate closing in 2009. (Team Rondello has closed 4 sales, with three more scheduled) We have a long way to go, but inquiries are slowly getting more numerous, as are showings and offers tendered. With all investments still questionable, real estate offers the best opportunity. Interest rates are 4.75 – 5.125%. Inventory and selection are excellent. As news of regional market warming continues to reach our customers’ ears, we’re confident the same warming will soon come to our market.

Winter continues to hang on with it's last breath here in the Northwoods. We are expecting 4 - 10" of fresh wet snow in the next 48 hours, and our lakes are still three weeks or better from the "ice out" opening.

The next seven days forecast shows nothing above 45 degrees, with night temperatures in the teens. Brrrr. It's been a long warm-up.

The real estate market warm-up is also very slow. Waterfront home sales in Oneida County -vs- 2008 for the 1st quarter of 2009 are down 24%; selling prices are down 22% for this same period. Vilas County, to the north, faired some better, with nearly indentical sales figures this year compared with last. Combined, the two counties are still looking for brighter days.

As history goes in our market, this is a prime time to acquire property of any kind. We're seeing interest rates available in this market in the 4.5% - 5.0% range. Inventory is strong, and sellers are motivated in many cases, and will consider offers that wouldn't have had a chance 3 years ago.

As investments go, property Up North remains one of the best places to put your money. While other investment vehicles have lost 40% and upwards, our overall values have seen only a modest decline; on average 12 - 15% since their peak in 2005. And, you can ENJOY this purchase - sit on the dock; listen to the loons, and watch the sunset. Impossible to do that with a stock certificate.

New listings are coming in at a typical rate for the season; most sellers have realistic expectations, and we are doing our part to make sure that these properties present themselves well as good values in the market.

Each day is a new opportunity to meet someone, establish relationships, try new marketing ideas, and work towards recovery. It is our focus and goal.

The Milwaukee Journal / Sentinel Sport Show is now two weeks "in the books", and I have spent most of that time sick with the "post sport show flu". I guess that's what you get when you meet and greet a few THOUSAND of SE Wisconsin's cabin-fever-starved folks.

Turnout was very good, and in fact, a new 1 day record was set at the show on March 7th.

Attitudes of the participants and the exhibitors was mostly upbeat. Those that came to our booth were certainly looking for bargains, and for advice on pricing in our market. But, the good news - THEY WERE THERE AND TALKING AND LOOKING.

I wasn't sure how the show would come off this year, and I am still not sure if we will write any business directly off the show, but it's possible, and likely we will.

After the show, I am optimistic that we are turning the corner. People still see the value of owning real property in our area as a wise investment, and the allure of the Northwoods as a vacation destination is still strong.

My appointment book is beginning to fill up for the Spring. Let's hope for positive days ahead for all.