First Weber Group REALTORS®: Wisconsin Real Estate

According to an article in the Wall Street Journal online "The Housing Crisis is over"

Written by Cyril Moulle-Berteaux, the article states despite the gloomy headlines in traditional media, April 2008 was the likely the bottom of the U.S housing market.  Reaching the bottom doesn't mean by next year we will be seeing double digit increases in prices, but at least things will no longer be getting worse.

Well, that is something.  We'll take it!  But of course it is not that simple.

Mr. Moulle-Berteaux, a managing partner with Traxis Partners LP which is a hegde fund firm in New York also stated "We are of course experiencing a housing bust, with serious consequences that are still unfolding. The odds are the reverberations will lead to subtend growth for a couple of years. Nonetheless, housing led us into this credit crisis and this recession. It is likely to lead us out. And that process is underway right now."

Interesting article about why to sell now.

Some sellers don't want to sell now because they fear the price of their home may have fallen in recent years (after it also rose a whole bunch in previous years, making it more valuable than when they bought it, in most cases.) While the sales price of their current home may not be run up to 2005 levels, the price of homes available for purchase is also lower. Making moving up to a bigger, better home more affordable.

What you may lose in a sales price you can gain in a purchase price

Think about it! The time may be right for you.

Click here for Reprint2007PowerBroker.pdf

Blogs aren't for advertising or blatant promotion.  BUT, every once in a while it is OK to do a shameless plug......... we hope you don't mind.

The 2007 Power Broker report is put out by RIS Media, the leading source of residential real estate industry news and information. 

First Weber Group is ranked as #20 nationwide in units and #32 nationwide in sales volume among independent brokers! 

We're the top ranked independent broker in the state of Wisconsin! 

A nice pat on the back for just doing what we do, and doing it so well we ranked 20 out of 700 independent brokers ranked nationwide.

See the Wisconsin DNR site for a very good article on Wisconsin pier legislation, including pdf pier planners, how to get a permit and to see if any thing has changed that affect you. Thankfully, most piers are exempt from permits or state review and many larger piers have been grandfathered under new legislation. But the article gives good tips for those who may be planning new projects and what is entailed.

Oh, that picture sure looks nice. If you don't own waterfront property in Wisconsin but would like to watch sunsets like this one, please contact us.

By Sandy Ebben, Vice President, Rhinelander office

Real estate agents are often asked what the 'going rate' for water frontage is.  The answer is ‘it depends’. 

There are many variables in determining the value of a lake lot. The first is the lake itself. There are lakes in the Northern Wisconsin that command premium prices and lakes that don’t.  Trout Lake and Lake Tomahawk are premium lakes. Mud Lake is not.

Features of the lake that determine value are:

Lake Size and Depth.    A 3000 acre lake appeals to more buyers than a 20 acre lake. Larger lakes are better recreational lakes than smaller lakes.   The depth of the lake will also affect recreation on the lake.  A shallow lake may have very few fish in it and can be very weedy and less appealing than a deep lake.

Lakes on a Chain.  The more lakes you can get to the higher the price.

Lake Clarity   Lakes in Northern Wisconsin range from crystal clear to dark brown.  Clear water lakes are more popular for swimming and boating. Darker lakes tend to have better fishing.

 How developed is the lake.  A lake with a home or cottage ever 100 feet is not as appealing as a lake that has a lot of wild, undeveloped shoreline, especially if its State Forest lands.

The second consideration in pricing water frontage is the physical features of the land.  The slope of the lot to the water is an important feature.  If the description says "ideal for an exposed basement" you can expect to climb some stairs to get to the beach.  "Fisherman’s frontage" means you aren't going to be swimming off your shoreline.’Southern exposure' means you will have the sun on your shoreline most of the day. A lot on the south end of the lake has 'northern exposure' and will be in the shade most of the time.

So the answer to the question is that lake frontage sells for between  $100 and $6,000 a foot in the Northwood’s.   A one acre lot with 217 feet of frontage on Trout Lake (a 117’ deep, 3916 acre lake in Boulder Junction) sold for $1,350,000 in 2005.  A lot on Fickle Lake (a 26’ deep 10 acre lake in Price County) sold for $21,000 in January 2007.   .

So next time you go shopping for lake property tell your agent that you want “a  large wooded lot with southern exposure, sandy beach, gradual slope to the water, next to State land on a clear water lake that is over 500 acres and part of a chain"--and your price range is under $100,000.  Then let me know what you find.