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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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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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Let’s consider several of unrelated statistics today. First, have you spent any time wondering how REALTORS ® such as myself have been faring in this economic downtown? Probably not, but here is one way to quantify what is happening. The Wisconsin Read More...
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Expanding on the last blog post on market absorption rate, let’s break down various types of real estate into number of listings per market price segment. On November 25, for all single family detached lakefront homes listed in the Greater Northwoods Read More...
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On November 22, The Greater Northwoods Multiple Listing Service had 2,722 listings for single family detached homes. In the previous 12 months, 1,264 listed homes of this type sold. This results in a market absorption of 105 homes per month averaged over Read More...
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I know from first-hand experience how difficult it is to earn a respectable living as a real estate agent, especially in the challenging market we now find ourselves in. However, judging by an article I recently read, things could be a lot worse for me Read More...
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This morning the sale of my Circle Lily Lake listing (Town of Winchester) closed. The purchase price was 94% of list (which is within my target window for a list-to-sale ratio), so I am quite pleased about that when I consider the market we are experiencing. Read More...
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Yesterday seller clients of mine accepted a buyer's counter-offer for their lake cottage in Winchester. Happily for all concerned, this deal was much easier to put together than all too many deals of the recent past. To be sure, there is much work Read More...
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