Vince Hoehn of CENTURY 21 Pierce Realty LLC, Manitowish Waters, WI

A more viable solution for the mortgage crisis?

Vince Hoehn — Fri, 13 Jan 2012 19:58:00 GMT

Big problems seem to require big solutions. When the housing bubble burst and millions of homeowners fell into default and foreclosure, Wall Street and the big banks were subjected to great financial distress due to the over- and miss-use of mortgage-backed securities. The big solution was to bail out these institutions. The bail-outs enabled the banks and Wall Street to recover nicely (perhaps too nicely, especially considering all the unethical and most-likely illegal activities), but the underlying...(read more)

Seven crazy local laws and HOA rules

Vince Hoehn — Thu, 29 Dec 2011 16:26:00 GMT

I like to believe that reasonable people can have differences of opinion and still get along, but sometimes I despair. The following content is courtesy of the NAR and worth sharing for its entertainment value alone. Regarding Home Owners Associations, they are the exception in the Northwoods, but most condominiums have covenants and restrictions, as do a number of subdivisions, and it certainly is possible to run afoul of the some restriction if you are either uninformed or uncaring. No Mothers-In-Law...(read more)

Another record set, but for how long?

Vince Hoehn — Thu, 22 Dec 2011 22:17:00 GMT

According to Freddie Mac, the national average commitment rate for 30 year fixed rate mortgages fell in November to another new low -- 3.99%. See monthly average rates back to 1971 at the Freddie Mac website . Remember the days of 18% back in 1981?...(read more)

365 days and counting

Vince Hoehn — Wed, 21 Dec 2011 17:32:00 GMT

The Mayan calendar ends on December 21, 2012, one year from today. According to various theories we can expect everything ranging from another day like today to the end of the world. If your own personal hunch leans to some sort of apocalypse, or you just want to hedge your bets, this might be the ideal time to invest in some real estate. True, if you perish on that day your purchase won't do you much good going forward, but you will have enjoyed the use of your property up until then, and if...(read more)

Apparently it was worse than we realized, and it seemed bad enough.

Vince Hoehn — Wed, 21 Dec 2011 16:30:00 GMT

Today a organization that I belong to, the National Organization of REALTORS (NAR), had to do a little back-pedaling on home sale statistics as reported for the last four years. The NAR has been criticized at times for being too much of a housing market cheerleader, and perhaps the criticism has some justification. From 2007 through 2010, home sale statistics as reported by the NAR have been overinflated by 11% to 16% due to faulty data analysis. Unlike some other analysts, the NAR doesn't report...(read more)

Shall we pity the big banks?

Vince Hoehn — Fri, 16 Dec 2011 15:16:00 GMT

The problems of the big banks are not problems that I lose any sleep over -- if it was up to me, I would look for a way to break them up, not make things easier for these "too big to fail" behemoths. Such is the sorry state of affairs that even what would normally be good news for these institutions can have negative consequences for them. The following information comes from an article in the December 10th issue of The Economist . As you know, our wise and esteemed members of congress...(read more)

Manitowish Waters, cranberries, and controversy -- Part V

Vince Hoehn — Sat, 25 Jun 2011 14:01:00 GMT

I have been holding off on writing about this topic lately as, quite honestly, sometimes I don't quite know what to make of all of it. As I am member of the town Planning Commission, one might naturally think that I would have access to information and resources to guide my decision making that a regular citizen does not have -- well, you would be wrong to think so. But that is a whole 'nother story. We did see some movement on the issue this past week. (For background, links to Lakeland...(read more)

Manitowish Waters remains a favorite destination -- anecdotal evidence.

Vince Hoehn — Fri, 20 May 2011 21:35:00 GMT

Had an interesting and uplifting conversation with a gentleman yesterday. He had stopped into the office to inquire about the actual sale price of a property that hold sold recently, and our conversation proceeded into all directions from there. The part that I want to relate to you is basically this: This gentleman is "of means", as they used to say, as are naturally a number of his friends and associates. As such, these folks have the "means" to have a second home (or choose...(read more)

Sale of 324 Point O Pines, Manitowish Waters

Vince Hoehn — Mon, 09 May 2011 20:07:00 GMT

Today the sale of my listing of 324 Point O' Pines, right here in Manitowish Waters, closed. Sale price was 100% of list, or $329,900. I believe that it is the first listing of a Manitowish chain property to sell this year, which means so far the score for listing agents is Vince Hoehn 1, everybody else 0. Days on market is 39....(read more)

2011 local and Vilas County fishing tournament schedule

Vince Hoehn — Sat, 30 Apr 2011 19:56:00 GMT

By no means is this a comprehensive list as I don't have access to a comprehensive list myself, but you may find this useful. Countywide: Vilas County Musky Marathon May 28-Nov. 30 Open to all for any legal muskie caught and released or kept from any Vilas County lake. Information: 800-236-3649 or the Vilas County Musky Marathon page . Local: Presque Isle Chamber Walleye Tournament May 13-15 Held on certain lakes. Information: 715-686-2910 or the chamber website . Presque Isle Lion's Club...(read more)

Significant price reductions on Hewitt Lake lots

Vince Hoehn — Sat, 30 Apr 2011 19:28:00 GMT

Lots 31 and 32 Hewitt Lake have just been significantly reduced in price -- to $114,000 for Lot 31 and to $99,000 for Lot 32. Both are gorgeous lots with 300 feet of lake frontage each, and are well worth the money. I have featured the lots in one of my signature amateurish You Tube videos -- you can find it here (You Tube video.) Where will you find a high and dry fully forested 1.6 acre lake lot with 300 feet of frontage for $99,000? No where else but here....(read more)

Looking for an affordable deal? This property is priced to sell!

Vince Hoehn — Fri, 29 Apr 2011 00:47:00 GMT

Gorgeous water views!

MLS® #118141 $28,900 - New reduced price!

Winchester, Vilas County - Beautiful lake views give this residential parcel real value. This slightly elevated off-water lot is ideally situated to provide soul-satisfyingly peaceful views of deep, clear water Adelade Lake to the south, and Helen Lake to the east. Located at the intersection of Old O and Adelaide Rd, this parcel provides convenient access to Adelade Lake as public access to Adelade Lake is directly across Adelaide Road with over 400 feet of sand and gravel shoreline. (The right-of-way of Adelaide Road runs to the shoreline.) Terrific four season location with convenient access to ski hills, snowmobile trails, neighboring communities, and dozens of area lakes. As an added bonus, the DNR lands encompassing Lake Rose and Lake Mary (3 acres and 67 feet deep!) are only several hundred feet away. The view, the location, lake access, off-water taxes, priced to sell - you have to check this out!

Property information

Link to You Tube video of 324 Point O Pines

Vince Hoehn — Tue, 05 Apr 2011 19:51:00 GMT

Last Saturday afternoon, after the sun finally came out again, I went back to my new listing and attempted to shoot some video that I hopefully would be able to stitch together into some type of virtual tour that, the results of which, wouldn't reflect too badly upon my abilities. The result is definitely amateurish, but then, I am an amateur at such things. But don't let me scare you off -- please take a look. Comments are always welcomed. Link to You Tube video of 324 Point O Pines I am...(read more)

New Manitowish chain listing

Vince Hoehn — Sat, 02 Apr 2011 20:08:00 GMT

Take a look at this solid 3 bedroom cottage on Spider Lake. At $329,900 it is priced below tax roll assessed and fair market values. Its great location at the confluence of Spider and Stone Lakes positions it centrally on a 10 lake, 2 river chain with well over 4,000 acres water. For more, see the listing information ....(read more)

13% of all US homes are vacant?

Vince Hoehn — Tue, 29 Mar 2011 19:31:00 GMT

The headline a few days ago was that 13% of US homes are vacant, up from 12.1% in 2007 (from the US Census Bureau. Wisconsin is at 13.1%, up from 10.2% in 2000.) Excel spreadsheet with data on all 50 states What made it a headline is the concern that an increase in vacancy rates translates into increased downward pressure on home prices. This may sound alarming, but there is more to be told. The story behind the headline is that the census counts second homes, guest homes, vacation condos, etc.,...(read more)

The cranberry controversy -- Part IV

Vince Hoehn — Thu, 24 Mar 2011 18:26:00 GMT

The latest installment in the controversy surrounding the expansion of Manitowish Waters' newest cranberry operation -- Monday, March 28th, the Manitowish Waters Board of Appeals will hear the appeal of Broken Arrow Cranberries, Inc. and Highway 51 Properties LLC and their owners contesting the February 7, 2011 Zoning Enforcement Notices issued against them. The Board of Appeals will conduct a site visit at 8:30 A.M. and open the hearing at the Community Center at 9:00 A.M., or as soon as possible...(read more)

Pier Grandfathering Deadline Approaching

Vince Hoehn — Sat, 05 Mar 2011 16:13:00 GMT

A reminder -- waterfront property owners with large existing piers have until April 1, 2011 to register those piers under the grandfathering provisons of the new pier regulations if they want to avoid possible enforcement actions due to noncompliance with the new pier size standards. Link to the DNR Pier Planner Link to the DNR interactive decision tool page Link to the DNR Pier Registration Form...(read more)

Deferred maintenance and the home inspection contingency.

Vince Hoehn — Fri, 04 Mar 2011 22:05:00 GMT

I note that one of my posts on the home inspection contingency is closing in on 10,000 views (Google loves it for some reason), so I decided to “google” the term “home inspection contingency” and see what other folks had to say about the topic. And what I read (and I didn’t agree with everything I read) gave me an idea for a follow-up topic. Perhaps the things that I did not agree with are a product of the fact that real estate law and practice varies form state to state....(read more)

Why do some properties receive multiple offers, and so many others none?

Vince Hoehn — Mon, 28 Feb 2011 20:58:00 GMT

The sales of two of my listings closed today, and these properties have something else in common -- both received multiple offers. The home on North Farming Road has essentially been under contract during the entire one year term of the listing. The first contract failed because the hopeful buyer could not sell his present home, and that sale was a contingency to the contract. About the time that buyer was released from his contract, another buyer came forward, and that sale closed today with a sale...(read more)

Lake Tides newsletter -- check it out.

Vince Hoehn — Sat, 26 Feb 2011 19:11:00 GMT

Have you heard of the Lake Tides newsletter published quarterly by the Wisconsin Lakes Partnership? Subtitled The newsletter for people interested in Wisconsin lakes , it is, I believe, a collaborative effort of the University of Wisconsin - Extension Lakes (out of the UWSP College of Natural Resources), the Wisconsin DNR, and the Wisconsin Association of Lakes. The latest isue has articles on commercial carp fishing, Secchi disk water clarity measurements, aquatic invasive species, and my favorite...(read more)

Pending Transactions

Vince Hoehn — Sat, 12 Feb 2011 21:18:00 GMT

I have transactions pending for two of my listings -- Lot 19 of Squirrel Lake Island in the Town of Minocqua, and a home on North Farming Rd in Arbor Vitae -- both to close later this month. Sale prices to be available after the closings. http://www.vincehoehn.com/Listing/ViewListingDetailsAuthenticated.aspx?ListingID=32851918&Preview=False&LastTabIndex=0&BackEmailID=-1&BackEmailTypeID=NONE http://www.vincehoehn.com/Listing/ViewListingDetailsAuthenticated.aspx?ListingID=8267924&Preview=False&LastTabIndex=0&BackEmailID=-1&BackEmailTypeID=NON...(read more)

Are you guilty of attachment bias?

Vince Hoehn — Sat, 05 Feb 2011 22:08:00 GMT

Or as it may be more properly known, the endowment effect? The endowment effect is a theory of cognitive bias (flaw in judgement) first proposed by economist Richard Thaler. Thaler stated: "This pattern -- the fact that people often demand much more to give up an object than they would be willing to pay to acquire it -- is called the endowment effect." Simply put, it is the sense that what you own is worth more than it truly is, for no other reason than the fact that you own it. This effect...(read more)

Fourth Quarter Sales Stats Charts for Manitowish Waters and Surrounding Communities

Vince Hoehn — Sat, 05 Feb 2011 18:26:00 GMT

Yesterday I posted a line chart graphing 4th quarters closings in units by year of single family homes throughout the Greater Northwoods Multiple Listing Service. Today I am restricitng the geograhical area to the area that I generally work -- the towns of Manitowish Waters, Presque Isle, Winchester, Mercer, Boulder Junction, Lac du Flambeau, Oma, and Sherman. And I have two charts -- one of closings of just single family residences, and one of closings of all types of real estate. As you can see,...(read more)

Bank rejects own offer.

Vince Hoehn — Sat, 05 Feb 2011 16:33:00 GMT

Here is a link to a story that is illustrative of the difficulties faced by real estate agents working with short sales and foreclosures and the buyers and sellers of same. These types of transactions do not make up a big part of my business (and before about 1 year ago, none at all), but I experienced several in 2010 and at times it was a bit bewildering. Definitely not business as it is supposed to be done according to real estate Continuing Education classes. Link to news story -- bank rejects...(read more)

Fourth Quarter Sales Statistics Chart

Vince Hoehn — Fri, 04 Feb 2011 17:07:00 GMT

This took me a little by surprise -- using data from the Greater Northwoods Multiple Listing Service database, I charted closings of single family residential homes throughout the entire MLS for October, November, and December 2006 -2010. I created a similar chart a year ago and used it as supporting evidence for my predictions for 2010. 2009 ended an an upward note, and I had hopes that 2010 would continue the trend. Not so, as you can see. Units of single family homes closed The decline for October...(read more)