|
Wednesday, May 7. 2008
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."
Tuesday, April 29. 2008
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.
Tuesday, April 29. 2008
There is a ton to do in the great state of Wisconsin, everything from fun-runs to fundraisers to theater to festivals. Here's what is going on in May all across the state. Have fun and see something new! Wistravel.com is a great resource for all things Wisconsin, kind of like this blog and our web site is for Wisconsin real estate, shameless plug :) Thanks for reading! Let us know if we can help!
Friday, April 25. 2008
 In 1882 the Rhinelander Flowage was formed when a mud and timber dam was constructed on the Wisconsin River to form a holding pond for lumber being floated down the river. At that time there were 8 sawmills in Rhinelander and the pond was named Boom Lake. By the early 1900’s the dam was rebuilt to generate power for the paper mill.
Today the Rhinelander Flowage is known as the Rhinelander Chain of Lakes and consists of Boom, Bass, Thunder and Lake Creek and extends from Rhinelander up to the wooden bridge in Newbold Township. It is considered one of the best fishing destinations in Northern Wisconsin and hosts the famous Hodag Muskie Challenge. The surface water area is over 1700 acres with 35 miles of shoreline. Maximum water depth is 30 feet and the water color is clear. Fish species include musky, northern, largemouth bass, walleye and pan fish. Unlike other flowages, the water level stays fairly consistent making this an excellent recreational chain of lakes.
Friday, April 25. 2008
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.
Monday, April 21. 2008
Spring market news compliments of WQOW 18 "The president of the Northwest Wisconsin Realtors Association, Dave Dresel, says low interest rates and a wide selection of houses will make this summer the best buyer's market in the last 40 years. Local realtors say prices in the Chippewa Valley are stable, which makes it a good time to buy."
Friday, April 18. 2008
 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.
Friday, April 11. 2008
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.
Wednesday, April 9. 2008
~ written by Nancy Kuczmarski Rhinelander Office It seems like it’s everyone’s dream to own a ‘wild’ 40 in Northern Wisconsin. Demand for 40’s remains strong, especially since thousands of acres of what was once paper company land has been sold off to private individuals. These parcels used to be open to the public for hunting and other recreational activities. There’s lot of questions you need to ask yourself and the following are just a few:
- What do I want to use the land for? Zoning might be very important.
- Do I plan on building on the property? Road access & access to power are important considerations. Will the soils perc for a conventional septic system?
- Does the owner know where all the property lines are or are they just approximate locations?
- Are there any easements to or through the property?
- Is the road servicing the property a Town, County or State Road or is it a private road? Road maintenance can be costly.
- Is the property in Managed Forest Crop? Very important to check on this as you may be restricted for future development unless you pay a hefty tax.
- Is there marketable timber on the property?
- Who owns neighboring property? Noise & odor could be a problem.
- Does anyone have permission to use the property? Seller may have given someone hunting rights. This is becoming more common.
- Are there any environmental hazards associated with the property? Be aware of abandoned wells, buried tanks and old dumps/landfills.
Bottom line….It’s best not to go it alone when considering a vacant acreage purchase. Hire a REALTOR® who understands ‘Vacant Land’ so you make an informed Buying decision. Your REALTOR® should be willing to walk the property with you and answer these questions. It might not be a bad idea to look for taxidermist art in their office. This is usually a pretty good sign they know about vacant land!
Wednesday, April 9. 2008
2008 is a unique real estate market in Wisconsin. Wisconsin does not have the serious problem other states do, thank goodness. For first time home buyers with good credit, there are opportunities aplenty to buy real estate. Read the full article about the do's and don't for first time buyers here, as reported in RIS Media. Here is a summary and some additional commentary on the article: 5 DO's 1. DO take time to know your credit score - it may get you a better mortgage rate. By learning your credit score, you can also see how you are doing in managing your finances. Free credits reports are available all over the internet. 2. DO explore mortgage preapproval before you start looking for homes. You'll know what you can afford and not waste time looking at what you can't. A preapproval also shows you are a serious buyer 3. DO start off with profesional help. Your Realtor can help you do number 1 and 2 above as well as make your home search easier by sending you new listings via email that match your criteria. A good Realtor keeps their eyes peeled for what their customers are looking for. You don't have to do all the work yourself. Consider signing a Buyer Agent agreement for the best representation. 4. DO anticipate your future needs. How long do you plan to stay in the property? Will it work for you 5 years from now? People move often for lifestyle reasons so keep your changing lifestyle in mind. 5. DO set priorities on what you are looking for in a property - but separate them into the "Must-Have features" and the "Nice to Have, but not imperitive" features. It is possible that no house will have absolutely everything you need and want and you will need to decide what is most important. 6 DON'TS 1. Don't fall in love with the first home or neighborhood you see. It is best to look at several homes to make sure of your purchase. Buying a home is a big step and you should take your search seriously. You may go back to that first house, if it is still available, but you will be making a wiser decision because you are more familiar with your wants, needs and what is available. When you ARE certain of a home, do move quickly. 2. Don't buy beyond your means. Just because on paper, you qualify for "X" amount of a mortgage payment doesn't mean you have to go that high. Are you comfortable with paying that amount? Borrow only what you feel comfortable taking on. 3. Don't treat your home like a bank. Buy for your lifestyle and for long term investment. Quick profits do nto always happen and should not be the main goal of purchasing a property. 4. Don't try to time the market. By the time most people sense a turn in the market, the tables have already turned. Buy for long term and buy at a time that seems right to you. 5. Don't get an exotic or confusing mortgage. If it sounds too good to be true, it probably is. Use a reputable local lender and ask all the questions you want. It is important for you to be able to understand the type of loan you choose. Happy house hunting! Let us know if we can help in anyway.
Tuesday, April 8. 2008
Wisconsin home sales have been outperforming most states. "While home sales in Wisconsin have certainly slowed when compared to the record levels of 2005, our local markets are far less volitile than housing markets elsewhere in the country", said WRA Chairman Michael Spranger. Spranger, a VP with First Weber Group, also said "We're not in the same kind of trouble you read about in other markets around the country. The fundamental elements of a stable real estate market remain strong in Wisconsin." A softer market offers credit-worthy first time buyers and opportunity to get into homes that might otherwise be out of reach. It won't last forever. Buy smart now.
Tuesday, April 8. 2008
This is not your typical rustic cabin in the Wisconsin Northwoods! But looks like an interesting place to stay and the lake looks as gorgeous as can be, which may be the only thing "typical" about this vacation spot found in Vilas County, Wisconsin.
Thursday, April 3. 2008
There is a ton to do in the great state of Wisconsin, everything from fun-runs to fundraisers to theater to festivals. Here's what is going on in April all across the state. Have fun and see something new! Wistravel.com is a great resource for all things Wisconsin, kind of like this blog and our web site is for Wisconsin real estate, shameless plug :) Thanks for reading!
Thursday, April 3. 2008
Lake Mildred  Lake Mildred is one of the Northern Wisconsin’s gems. Located between Rhinelander and Lake Tomahawk, this clear, deep lake was recently described as “outstanding” by a DNR biologist because of its clarity. Long and meandering, Lake Mildred is 190 acres in size with depths of 45 feet or more. There are 4 state owned islands on the lake and a small channel leading to Clear Lake, an adjoining 30 acre lake. Fish species include large and small mouth bass, bluegills, northern, muskies, and walleye. Both year round and seasonal residents enjoy Lake Mildred.
First Weber currently has 2 homes listed for sale on Lake Mildred. They can be found at (MLS 81905 and 71469)
Wednesday, April 2. 2008
Straight from the Wisconsin REALTORS Asssoiation press release is some excellent news for Wisconsin lake property owners.............. This issue has been on the table for a long time and a bill was finally signed yesterday.
April 1, 2008 Contact: Tom Larson
IMMEDIATE RELEASE (608) 212-0066 REALTORS Praise New Pier Protection Law Group Credits Governor and Bipartisan Legislative Leaders Madison -- Wisconsin waterfront property owners can rejoice after new legislation to protect existing piers was signed into law today, according to the Wisconsin REALTORS® Association (WRA). Assembly Bill 297 establishes grandfathering standards for existing piers and will provide permanent protection from future regulations to approximately 99% of the existing piers. The new law exempts from new regulations (or "grandfathers") all piers up to 8-feet wide and loading platforms or "decks" (located at the end of the pier) that are 200 square feet or less. The law also grandfathers decks between 200 and 300 square feet, as long as they are no wider than 10 feet. "This new law is very important to waterfront property owners and will provide certainty as to which piers are legal, and which are not," said Mike Spranger, WRA Chairman. Spranger also thanked Governor Doyle and legislative leaders of both political parties for passage of the bill saying, "The new law strikes a good balance between the rights of property owners and the rights of the public to use and enjoy our waterways." Assembly Bill 297 was the work product of a broad coalition of key stakeholders including the Wisconsin Department of Natural Resources, Wisconsin REALTORS® Association, the Wisconsin Wildlife Federation, the Wisconsin Builders Association, and the Wisconsin Association of Lakes. It passed both houses in the legislature with unanimous support. While some existing piers will not be grandfathered, the law makes the process easier and more equitable for obtaining the necessary permits to keep these piers in place. "This new permitting process recognizes that many of these piers have been in place for decades and it would be unfair to make waterfront property owners rip them out," said Bill Malkasian, President, Wisconsin REALTORS® Association. While a pier adds monetary value to waterfront property because it provides access to the water for boating and recreation, there can also be a significant emotional attachment for some property owners. "A pier is the place where many families have spent countless hours swimming, fishing and spending time together," said Spranger. "Piers are emblematic of summer-time fun in Wisconsin."
And here's hoping that summer will really arrive one day so we can use those piers!
Tuesday, April 1. 2008
The beautiful Northwoods of Wisconsin hosts thousands of lakes for which we are lucky to be able to enjoy. Lakes are created several different ways and have some different characteristics because of that. If you want to learn more about the types of lakes that can be found in Wisconsin, click here for an article from the Wisconsin Department of Natural Resources.
Tuesday, April 1. 2008
As reported in REALTOR.org online magazine on March 31, 2008
OFHEO Director: Markets Shows Improvement. There are "some good signs" that the severe downturn in U.S. housing markets might be approaching an end, says James Lockhart, director of the Office of Federal Housing Enterprise Oversight.
"It's going to take a while, but we're starting to see some bottoms," Lockhart says. "It may take another six months or so, but hopefully we'll start pulling out of it." Keep it coming! We're more than ready, more than willing willing and more than able to tackle a brisk spring selling season! Contact us if you like reading the blog and want to work with us. Comments always welcome.
Tuesday, April 1. 2008
Staging your vacant lot Most real estate agents and sellers understand the benefits of staging a home when it’s on the market. Vacant lots are really no different than homes, but very few agents ever coach sellers on how important it is to have a vacant lot ready for sale. Land typically does not get shown the way a home does. A buyer will grab a bunch of MLS sheets and then go on a road trip without their agent, expecting to find all the lots on their list. Imagine their frustration when they can’t find half of the lots and the other half just have a sign on a tree that may or may not actually be on the lot. These are the things that should be done before the sign goes up. Have a current survey of the property Clearly mark all corners. If the lot is large, have a surveyor blaze the lines so a buyer can walk the entire perimeter of the lot. Clean up the lot. Remove any debris, dead trees, etc. Land is like a home, it should not be a mess when you put it on the market. If the lot is heavily wooded, clear out a trail or path so you can walk from end to end without needing a machete Know what utilities are available and where they are located. Never assume that just because the property is on a town road that power and phone run to the lot Have a current soil test done (if the property is not serviced by municipal sewer) One of the first questions a buyer will ask is “does this property perc?” Know what kind of road the lot is on. Is it a town or county road, or is it a private easement road that has to be maintained by the owners. Get information on zoning and recorded restrictions and covenants. If the lot is on a lake or river make sure that there is a path leading to the water. Complete a Real Estate Condition report. Disclosures on vacant land are just as important as disclosures on homes. Buyers want to know if there are wetlands on the property, if the property is in MFL, etc
(submitted by Sandy Ebben, First Weber Group)
Tuesday, April 1. 2008
Northwoods Wisconsin Residential home sales January 1, 2008-March 31, 2008. Area/Type | # Sales | Average Sales Price | % of List price | Days on Market | Rhinelander/Off water | 30 | $97,147 | 92.2% | 165 | Rhinelander/Waterfront | 8 | $304,250 | 93.4% | 205 | Eagle River/Off water | 19 | $119,042 | 89.0% | 170 | Eagle River/Waterfront | 12 | $371,075 | 92.0% | 187 | Minocqua/Off water | 23 | $148,133 | 92.3% | 173 | Minocqua/Waterfront | 17 | $468,448 | 94.9% | 143 |
Source: Greater Northwoods MLS Please let us know if you have any specific questions about real estate in Wisconsin Northwoods.
Wednesday, March 19. 2008
Excellent overview article on why now is a smart time to buy - excerpted from a report by John L. Scott Real Estate and reported by RIS Media.
Tuesday, March 18. 2008
Prices are right for first time home buyers or move up buyers, but financing, which in recent years was quite easy to get, is getting tougher. Save your pennies for that downpayment because you are going to need it. While maybe harder for buyers to enter into homeownership, the article below points out some changes that just seem to make good sense. If you are going to borrow, have a down payment, have good credit. Borrow smart, lend smart. Home ownership is a responsibility and one well worth it. From Real Trends email update #987:
"Falling prices in many parts of the country have improved affordability for those interested in becoming homeowners for the first time, but financing the purchase has become a bigger challenge. Lenders, in general, are requiring larger downpayments and higher credit scores, criteria that can trip up first-time buyers. It's typically first-time buyers who have the toughest time scraping together a downpayment. According to the National Association of REALTORS, 45 percent of first-time homebuyers opted for 100 percent financing between July 2006 and June 2007. The median percentage that first-time buyers financed was 98 percent. No-downpayment loans "are still happening, but with a lot more restrictions than before," says Barton Pitts, president of Downers Grove (IL).-based Professional Mortgage Partners. Borrowers today are going to have to verify their income and verify their financial assets to lenders, says Frank Nothaft, chief economist for Freddie Mac, the government-sponsored mortgage agency. A FICO credit score of 660 to 680 is now the minimum most lenders will consider to prove your creditworthiness, he says. Some in the industry figure that many borrowers will need about a five percent downpayment on a typical loan these days. Others are predicting heftier restrictions to entry. According to Guy Cecala, publisher of the industry newsletter Inside Mortgage Finance, a first-time buyer in many markets will soon need even more money down - perhaps 10 percent. "And I think before too long we're going to see it up to 15 percent to 20 percent," he adds.
Monday, March 3. 2008
What kind of features would it include? Property video? Text messaging ability? Click to chat with a live person? There are so many new products popping up everyday for use in Real Estate 2.0 it is hard to know which way to turn. We love to hear from our readers so please tell us what you'd like to see. How can we make the real estate search experience better for you?
Monday, March 3. 2008
A few stats compliments of the Wisconsin REALTORS Association web site...
Over the past 30 years home values have risen more than 6% annually. On average, home values nearly double every 10 years. Wisconsin is one of the most stable real estate markets in the Midwest. Wisconsin continues to outperform most other states. Homes sold with the help of a real estate professional in 2006 sold on average for 32 percent more than FSBO sales. 2007 saw a 7% drop in the number of consumers who plan to buy or sell their homes themselves.
Let us know how First Weber can help you in 2008.
Monday, February 25. 2008
Time Magazine article by Dan Kadlac in full here. An excerpt relevant to home buyers is shown below: But let's say you are emotionally ready to be a homeowner. You have good credit, plan to stay put for five years and have been waiting for the perfect entry point. It's time to get serious--before an inevitable rise in interest rates wipes out your advantage. "The thing that will make home prices stop falling is the very same thing that will push mortgage rates higher," says Jim Svinth, chief economist at mortgage firm Lending Tree. So anything you gain by a further drop in prices might be offset by rising financing costs. Consider a typical home that sells for $218,900. You put down 20% and get a 30-year fixed-rate mortgage at today's rate of 5.5%. Monthly principal and interest come to $994.31. Let's say that 12 months from now the same house goes for 10% less, or $197,010. But by then the recession is history and the Fed is jacking up rates to stem inflation. If mortgage costs rise a point, to 6.5%, your monthly payment would be $994.94 and you'd have saved nothing. Meanwhile, home prices might steady and sellers might become less willing to negotiate. And you have spent a year living someplace you'd rather not be. It's more complicated if you must sell before you can buy. But that logjam won't persist forever--and if it appears you'll be trapped for a few years, try to refinance at today's lower rates. Risks always seem most acute when the headlines give you ulcers. But that's exactly when you should think long term--and get off your thumbs.
Thursday, January 17. 2008
Lord knows there are real estate sites out there on the web, some local, some national, some good and some really worthless. National web sites are going to aggregation where they include the most listings they can find. Have you ever used one of these national giants (Trulia, Zilow or realtor.com for example) to find local Wisconsin real estate? If so, how was your experience? Local brokers like First Weber work very hard at keeping individual websites on the cutting edge. A good customer experience and returning customers is what we are after. How are we doing there? There are many options on most real estate web sites. I think a lot of people are in a hurry when they look. That's why I ask -did you know that for a few moments of your time you can set up a "My First Weber" account? When you do that, you have the ability to receive emails on properties that match YOUR criteria. Whether they are new listings, open houses or even price changes, My First Weber can send you email updates, keeping you informed even if you are not seriously looking. It is a service, free. You can sign up here - and you can unsubscribe at any time. This is not hard sell - that doesn't work on a blog, or anywhere really, and it is not what we are about. It is just a useful tip. If you are serious about buying or selling Wisconsin real estate, you should sign up. If you don't like it, unsubscribe easily. We hope you stay around because We're here to help! Go Packers!
|
