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La Pointe, WI Real Estate News

By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
WHERE DO MADELINE ISLAND AND BAYFIELD BUYERS COME FROM? 2010 NATIONAL ASSOCIATION OF REALTORS® STATISTICS YOU SHOULD KNOW:   - 89% of home buyers now begin their property search online. (Both of our most recent buyers found us on the Web and both contacted us after viewing our virtual tours online.)   - 85% of buyers reported that they found property photos "very useful" in making their buying decision. (Compare our photography and virtual tours with that of other area agents and brokers.  Photography sells houses.)   - 74% of buyers credited the Internet as the most important factor in their home search. (Only 9% of buyers searched newspaper ads during their home search.  Just 6% used home listing booklets or magazines.)   When it comes to selling your home, success is no accident.  S...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
The mapping of roads and landmarks on Madeline Island definitely needs a facelift. Thanks to the few maps we DO have available, most tourist visitors to Madeline Island are at least familiar with our most-traveled roads, such as Big Bay Road, North and South Shore Roads, Middle Road, Hagen Road and Benjamin Boulevard. But what about the growing number of Island roads that do NOT appear on area maps?  Some roads are sometimes incorrectly spelled, such as Black's Shanty Road (often misnamed "Black Shanty Road")?  Others just don't show up at all on the maps published by the Madeline Island Ferry Line or on those charming place mats at the Bell Street Tavern. Some examples of missing roads and landmarks: Equaysayway Lane - Off Old Fort Road in the Grant's Point area of Madeline Island.   C...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
REAL ESTATE MARKET REPORT FOR MADELINE ISLAND - LA POINTE, WISCONSIN 54850 - NOVEMBER 2010 The following is a Market Report for Madeline Island, in Ashland County, Wisconsin as of the beginning of November, 2010: Listing prices declined slightly during the month of October, as sellers attempted to attract a buyer prospect during the remaining weeks of the tourist season.  Typically, Madeline Island sellers tend to adjust their prices downward late in the season once tourist traffic to the Island begins to subside. There was one closed sale of a vacant waterfront lot in mid-October reported (buyer procured by Madeline Island Realty LLC).  The property sold at 100% of the list price.  The closing took place at Associated Bank in Washburn, Wisconsin and was processed by Wisconsin Title. Sh...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
Now that November has arrived, it's a good time to take stock of what worked and what didn't this season in terms of real estate marketing on Madeline Island. Of course there will still be some showing activity during November, but for the most part, real estate sales activity on Madeline Island will slow to a crawl by mid-month.  And while it's certainly possible to sell a house or lot during the winter months (we've done so many times), it's far less likely than it is during tourist season. So let's compare marketing methods that brought results to Madeline Island sellers this year with other marketing approaches that failed: Some area real estate agents like to advertise in small community newspapers.  The cost is low, but so is the circulation.  This isn't a great place to reach a l...
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By Eric Kodner, Wayzata Lakes Realty: Twin Cities, Madeline Island
(Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes)
SOLD - 2984 NORTH SHORE ROAD, LA POINTE, WISCONSIN 54850 - MADELINE ISLAND HOME ON LAKE SUPERIOR - BUYER PROCURED BY MADELINE ISLAND REALTY LLCAfter just sixty-two days on the market, we have completed a Sale of our listing at 2984 North Shore Road, on beautiful Madeline Island.We wrote about this fine property back in early September:http://activerain.com/blogsview/1846961/listings-on-madeline-island-lake-superior-waterfront-estate-on-madeline-island-2984-north-shore-road-lapointe-wi-54850[Photo © 2010 by Madeline Island Realty LLC - 2984 North Shore Road, LaPointe, Wisconsin]The buyer contacted us after reading and following our Madeline Island Real Estate Blog on ActiveRain.Let us find something for you in the Apostle Islands region, on the South Shore of Lake Superior!Scan or click ...
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By Eric Kodner, Wayzata Lakes Realty: Twin Cities, Madeline Island
(Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes)
One of my clients took a look in the trunk of my Toyota Camry this past weekend and commented "looks like you're prepared for anything".  I'll take that as a compliment.  Yes, we're often expected to be prepared for any need.  And I suppose the trunk of my automobile is a good place to start as I describe what it takes to be ready for what comes your way. What my client saw, among other things, was the following:   Surveyor's tape measure (the kind on a big reel) Blue and red ribbon for marking lot lines A sledge hammer/maul (yep, for driving property signs into rocky clay soil) Lawn signs, posts and assorted sign riders A Bosch cordless drill with various bits Screwdrivers, hammers, wrenches and pliers Assorted hardware for the sign posts and riders Lockboxes A couple of brochure boxes...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
When our Madeline Island real estate office procured the buyer for a waterfront dwelling on Main Street, LaPointe, Wisconsin late last year, there were no recent lakeshore sales in that price bracket on Madeline Island.  We indentified an interested party, wrote the offer and brought the transaction to closing just over ten months ago. That property wasn't our listing, but our buyers understood the value of the property immediately and they fell in love with it.  Waterfront lots on Lake Superior with low bank (or almost no bank) and sand beach are a rare commodity on the Island.  This property had a stretch of magnificent sand beach, plus a large dock.  It was located close to the heart of downtown LaPointe, across from Lotta's Lakeside Cafe (described as an "unpretentious bistro" but t...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
It's a matter of routine that people come into our office on Madeline Island with questions.  Sometimes I hear questions on the same day which conflict with each other. For example, a fellow walks in, takes a look at our brochure and comments, "I've been all over this Island and it looks like there's hardly anything for sale". A coupe hours later, a couple walks in.  We chat a bit and then she asks, "Gee, why is there so much for sale here?" See what I mean? Okay, firstly, let me say that this is an Island, about fourteen miles long by two or three miles wide on average.  We have a limited stock of existing housing.  Our recreational buyers mostly want waterfront property on Lake Superior, rather than interior homes.  Not all of our shoreline is developed (by that I mean there are still...
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By Eric Kodner, Wayzata Lakes Realty: Twin Cities, Madeline Island
(Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes)
I'm not trying to split hairs, but I have a problem with the agent who authors a newspaper column in the community where one of my offices is located, based on the premise that he is best qualified to counsel area property owners about what their home is "worth". Professing to know the answer to "What's it worth?" in a particular community may make a great headline for a newspaper column, but it could be considered puffery.  Once you have made the blanket suggestion to readers that you are some sort of clairvoyant expert on what property in the community is worth, you may be called upon to prove your claim.  Real estate professionals research and assemble a CMA (Comparative Market Analysis) before we tell a seller what we believe their property will bring on the market.  That Market Ana...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
Yesterday was a lousy day to take an autumn walk in the rain on Madeline Island. At midday, the temperature was in the upper 40s and it was pouring.  The streets in LaPointe were full of flowing water and the view across two miles of Lake Superior facing the Bayfield mainland was obscured by low, heavy clouds and streaks of rain. It was not what you'd call the best weather for enjoying the Apostle Islands. My friend and colleague Jeff and I chose the day to take a trip up to the north end of the Island to mark lot corners for a pending sale.  A land surveyor had already placed corner "pins" (iron pipes) at the lot corners for us.  It was our remaining job to find them and to flag each lot corner with brightly-colored tape, in execrable weather. We could have picked a much better day to ...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
If you find yourself waiting in the supermarket checkout line, or maybe sitting in the dentist's office waiting room, you can always leaf through luxury publications like Town & Country, The Robb Report, Veranda or Luxury Homes Magazine.  And you may even notice a few things about the way they sell luxury goods that can help with your real estate marketing. For example, You don't see Lamborghini ads across the page from Saturn ads. You won't see Rolex or Piaget or Patek Philippe advertised alongside Timex. Nobody's pushing a $2.4 Million Cape Cod mansion alongside a starter bungalow priced below $150K. While you're browsing all those luxury ads, you'll notice that the magazine itself doesn't look or feel cheap.  It's not printed on cheap newsprint, like some supermarket tabloid rag.  Th...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
One of my competitors on Madeline Island is sitting at an old-fashioned "Open House" today.  He was there last weekend too, diligently waiting for people to walk in off the street and look at his listing.  I'm told he had a total of four visitors last Saturday. The problem with those old-fashioned Open Houses is that they rely upon drive-by prospects to notice the "Open" sign.  Hopefully, those drive-by folks will overcome their nervousness about being face-to-face with an agent and then they'll actually stop the car and go inside. Four viewings in five hours is a pretty slow and inefficient way to market a house, in my opinion. By contrast, a high-quality Virtual Tour is a far more efficient and it serves the seller better than a traditional Open House does.  We typically assemble twel...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
The Top Ten Real Estate Mistakes Made by Buyers When Searching for Property on Madeline Island   Follow these guidelines and save yourself time, frustration, maybe even money: 1) Do your homework before you walk into a real estate office.  It's a good idea to Google the name of an agent before you begin working with that individual.  Ask yourself what kind of background and industry experience that agent has.  Is that agent a full-time real estate professional or are they a "seasonal" (part-time) agent who may not even write an offer or show a property during five or six months of the year? 2) Make an appointment to visit with a busy real estate professional.  Don't expect to walk into a real estate office during summer and get an immediate showing of an Island home.  Many of our Madeli...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
  In a resort/recreational community, consumers often expect to walk into most real estate offices on impulse.  And when you run a real estate office in a recreational area, you can expect your office to be occasionally a place where folks come in to ask for directions or even a substitute for a local FedEx or Insty-Prints shop. Walk-ins ask us where to get a good meal, where to buy gasoline, where to rent a sailboat, sometimes asking us where to spend the night.  We hand out ferry schedules, give directions to restaurants and shops, and draw maps for people who are lost.  We let people use the fax machine, make photocopies for them and let them use our Wi-Fi or scanner when they need it. Over the years, I've given a bundle of firewood to tired people who arrived late on a rainy evening...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
The issue of correct spelling and proper grammar has started many an argument on ActiveRain. I'm not here to launch back into that debate.  But I'm always astounded when I see a street name misspelled by an agent (or broker) who should know enough to go look it up. In our community, we have a few street names that are complicated.  "Equaysayway Lane" comes to mind.  Some tourists who come to Madeline Island occasionally transpose a couple of letters and get "Capser Road" wrong (misspelling it "Casper" probably has something to do with watching too many television cartoons as a child).  But there's not much excuse for an agent uploading listing to the Web with the street name incorrectly spelled. If the street name was entered wrong by an office assistant, fine.  But the broker should be...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
You find some of the most interesting stuff on Google. I was just searching the Web for a listing and found myself on one of those do-it-yourself sites that cater to the "For Sale by Owner" crowd.  Agents advertise themselves there as well.  That particular site permits you to browse listings by zip code and when I searched "54850", an ad popped up for a female agent who is marketed on that site as a "Madeline Island Property Specialist".  The site also states that she is a "Madeline Island real estate agent". Her office is located in northeastern Wisconsin, about 275 miles from here.  I've never heard of her before and to my knowledge, she's never listed or sold anything on Madeline Island.  With no office within several hundreds of miles from here and no past record of sales or listin...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
A customer came into our Madeline Island office late in the afternoon today, looking for information on a listing.  He and his wife had been walking up and down Main Street and they had discovered that we were apparently the only Madeline Island real estate office open on a Sunday afternoon. The fellow had a question about a waterfront listing (listed with a competitor) and asked us the price.  They didn't remember the name of the company on the "For Sale" sign, but they did jot down the fire number (numerical street address).  I searched through the local "Land & Homes Real Estate Guide", a free tabloid piece that you'll find in the supermarket check-out line in Ashland or Washburn.  I couldn't find it there, so I wound up searching on Google.  I searched by the street address (numeral...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
Broadband consumers have forgotten the old adage, "garbage in, garbage out". In a world of fast processors and Web-optimized browsers, there is an air of unreality about "wireless broadband".  In rural and low population density areas, it's often more like worthless broadband. Obviously, the tasks you perform online will only crank as fast as your wireless broadband signal allows.  When your wireless signal is weak or nonexistent, you may not be able to download files & programs, or upload information to the Web, without difficulty. Advertised signal speeds and upload speeds are wildly exaggerated.  It seems the wireless business is its own little kingdom where companies are permitted to mislead consumers at will, without consequences.  Television ads by wireless providers are full of m...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
Our Madeline Island Real Estate blog has been acclaimed by the Editor-in-Chief of Realtor Magazine! In the July-August issue of Realtor Magazine, Editor-in-Chief Stacey Moncrieff wrote, "Eric Kodner's Madeline Island Real Estate blog on ActiveRain is a lively mix of business and human interest stories." Last month, Stacey commented, "Eric, you have a very entertaining and informative blog!" Stacey sees a huge number of agent and company real estate blogs in the course of a year, so it's a great honor to be praised by her in a Realtor Magazine article.  To the best of my knowledge, this is the first time a LaPointe, Wisconsin real estate firm has ever been praised in Realtor Magazine!         Madeline Island Realty IS Madeline Island Real Estate CALL OR TEXT MESSAGE ERIC KODNER, AT 612.6...
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By Eric Kodner, CRS, Madeline Island Realty, LaPointe, WI 54850 -
(Madeline Island Realty)
2010 has been a pretty awesome year for me, at least from a public relations standpoint. Since the beginning of the year, I've been privileged to be featured three times in major real estate publications.  In the January/February 2010 issue of The Residential Specialist magazine, I was interviewed by Regina Ludes in an article entitled "Letter Perfect".  The article focused on ways to promote the CRS (Certified Residential Specialist) designation to clients and colleagues in the real estate industry. In the March/April 2010 issue of The Residential Specialist magazine, I was interviewed again by Regina Ludes, for a "State of the Market" article, in which I quoted market statistics on the Minneapolis and Saint Paul metropolitan area. And last week, Realtor Magazine published an article b...
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