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Eagle River, WI Real Estate News

What is happening in the Northern Wisconsin's counties of Vilas and Oneida serving the greater Eagle River, WI area?  Well 6 months into this years market and here is where we are. We have seen growth not impressive growth but beggars can't be choosy!  98 homes were sold in Vilas and Oneida Counties in June.  That is the best month since October 2009.  In fact, when one looks at unit sales since November 2008, June's 98 units are the second most homes sold other than October 2009's 109 units, which is cause for some celebration!   We` have put together 4 straight months of increases.  We still have a long way to go.  When one looks at the unit sales and then one takes a closer look at what is selling, it is clear that less expensive homes are selling.  Homes priced above $500K are slugg...
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By Julie Winter-Paez, Broker/Owner
(Re/Max Property Pros LLC)
What IS the relationship between Assessed Value and Real Estate Sales in the Vilas County Area?  This is a common question I am getting more and more from Buyers as they continue to look for great values in todays market.  I decided to do a study on the townships surrounding Eagle River to see exactly how each township differs in their sales prices and their Assessed and Fair Market Values. I chose the townships surrounding Eagle River, WI in Vilas County because they are so close yet the tax values differ greatly.  What I have been finding is that many of our buyers are hung up on fair market value and assessed value when they go to make an offer.  For some townships that is a good thing and for others not so much.  So,  I took the sales in the surrounding area since Oct 1,2009 and did...
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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 pro...
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By Julie Winter-Paez, Broker/Owner
(Re/Max Property Pros LLC)
Selling real estate in our current Eagle River, Wisconsin market place is showing certain challenges in Northern Wisconsin.  As we head into the second half of our year, normally known as our busy season, we are seeing several trends appear in our ever changing market.  Doing business today is not only a challenge getting a prospective buyer to make an offer but then trying to hammer through all the details that follow. As always, working with a license REALTOR who is knowledgeable about changing banking and appraisal standards is always best. One of the first problems in the Eagle River, Wisconsin market place is actually getting a buyer to look at your home.  While offers are down in number we are seeing that buyers know a value when they see it and if you want your home shown you mus...
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By Julie Winter-Paez, Broker/Owner
(Re/Max Property Pros LLC)
  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 h...
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By Julie Winter-Paez, Broker/Owner
(Re/Max Property Pros LLC)
  What determines real estate values in Eagle River Wisconsin???It is not the job of a REALTOR to tell you what your home is worth because, quite honestly, it is worth many different things to many different people.  The appraiser will put their market value on it, the assessor will put a tax value on it, the insurance company will place a replacement value on it and the prospective buyer will put a purchase value or and you will place sentimental value on it.  The difficult job of the REALTOR is to determine what that value will be in the current market based on the current conditions, the competition, and the potential value to a prospective buyer. The best price obtainable in any market can only be determined by thoroughly watching the market and analyzing the competition. In the fin...
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By Julie Winter-Paez, Broker/Owner
(Re/Max Property Pros LLC)
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 sol...
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By Julie Winter-Paez, Broker/Owner
(Re/Max Property Pros LLC)
  Real Estate in Northern Wisconsin is a definitely a different market than most places but there are certain true statements about what affects market value that run across many borders and markets.  To this respect Northern Wisconsin properties are not that different. One of the most common questions I'm asked as a local professional is: " What will affect the market value of my home???"  People have many different ideas about how market value is arrived at and who determines it.  The most amusing to me is the belief that the REALTOR affects market value by pricing the homes they sell.  Some people still think agents set the listing price and real estate in Northern Wisconsin just doesn't work like that. So, what does affect market value of a home???   Location   -   This can be the s...
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By Julie Winter-Paez, Broker/Owner
(Re/Max Property Pros LLC)
When purchasing Northern Wisconsin property you may want to ask for Buyer's Agency. Northern Wisconsin has some built in challenges that if you, as a Buyer, are not too familiar with may cause you a bit of head scratching.  I really feel like in my real estate business in Northern Wisconsin I am selling dreams and helping families make memories and in this market I want to be able to help my buyer's to make certain they are confident in their purchase and are buying no surprises. For this reason I always discuss Buyers Agency with buyers before getting to far along in the home buying process. In Buyer's Agency the REALTOR and the buyer sign a WB-36 Exclusive Buyer Agency Agreement that includes a Disclosure of Real Estate Agency. The Disclosure lists the fair treatment duties owed to al...
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By Julie Winter-Paez, Broker/Owner
(Re/Max Property Pros LLC)
  In Northern Wisconsin's Vilas and Oneida Counties we have been hard hit by the past 18 month  market slowdown and have alot of work to do to show our Sellers how we can get their homes sold in this current market.  Pricing will be the key in the next 18 months and a good agents' job is to price their Seller's homes realistically to SELL, as well as, to show your Seller's how you have come to the numbers you are at. Price tags from the booming markets in years prior need to become a thing of the past if our Seller's want to move on in this market. So, in Northern Wisconsin pricing will be the key if you want to sell you home in 2009. Our most recent numbers show that in Vilas county our volume from 2008 to 2007 was down an average of about 40 percent. There were 736  units sold in 2007...
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By Julie Winter-Paez, Broker/Owner
(Re/Max Property Pros LLC)
  Father's Day weekend had to be shared this year by our own Eagle River, WI Sport & Home Show. It was wonderful seeing so many familiar faces and old friends and clients. I look forward every year to working this event b/c it is a great opportunity to show support for our community by being present. The weekend had good traffic and was in a new spot...our new high school. What an amazing facility and that was probably one of the top ten comments I heard.  Many members of our community felt like this was their opportunity to come out and take a look at both the vendors and the school. It is an honor to have this new facility in our home town and many individulas were feeling the pride as they came through this weekend. We did a free home giveaway as well as a gorgeous floral basket give...
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