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Vince's Northwoods Notes blog is dedicated to providing market statistics, real estate news and listings, and community information relevant to Manitowish Waters and the surrounding communities of Northern Wisconsin.
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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 Read More...
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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 Read More...
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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 Read More...
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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 Read More...
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A wise man probably wouldn't be so quick to point out his own errors of analysis, but then I have never been saddled with the sobriquet of "Wise Man." One year ago I wrote a piece about the relationship between interest rates, sale price, Read More...
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It seems as if everyday I hear the question "How's the real estate market?" It is as sure to come up as a topic of conversation as is the weather. My answer varies somewhat from questioner to questioner, but some aspects of my response are Read More...
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It's time to make some predictions about how the real estate market will fare in Wisconsin's Northwoods in 2010. My crystal ball is just as murky as the ones belonging to all the other prognosticators, and my forecasts may be worth only what you Read More...
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Earlier this year I wrote about how foreclosures are a rare occurence in Manitowish Waters and my reasons for thinking why this might be so. Well, two more notices of sheriff's sale were posted at the Community Center just this morning -- an off water Read More...
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Subtitled: Putting Your Money Where Your Mouth is. For some time now I have been saying that this is a great time to buy real estate. Buy when everyone else is selling, sell when everyone else is buying -- you have heard a variation of it many times. Read More...
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Nationally, as well as in our local market, most residential real estate activity is centered on lower end of the real estate market. There are a number of reasons why this is true, not the least of which, at least on the national level, is the sales Read More...
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A good portion of the real estate market in Manitowish Waters is in second (vacation and investment) homes. As a mater of fact, the second home market quite possibly exceeds the market for primary residences in units and dollar value in Manitowish Waters, Read More...
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Bank foreclosures - in a number of real estate markets across the county, foreclosed properties represent a large part of the real estate inventory and a large part of the business of many a real estate professional. In Wisconsin we have a foreclosure Read More...
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There are two types of homes selling in today's buyer's market. Let's call them: The "Opportunity House", and The "Deal House" Before we get into 1. and 2. above, we first need to agree that today's real estate market Read More...
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I would like to recap a conversation I had recently with a couple contemplating moving to another community. The conversation started off with them inquiring of me “How’s business been?”, which, rather than just making polite conversation, Read More...
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On March 4th, 2009, the Greater Northwoods Multiple Listing Service had 2,143 listings for single family (detached) homes. In the previous 12 months, 1,207 homes and cottages fitting this classification sold. This is a market absorption rate of 100 homes Read More...
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