Vacation Home segment of U.S. housing market shows growth in 2006:
There have been several articles recently regarding an actual bright spot in the U.S. housing market. Vacation Home sales rose 4.7% for a record of 1.07 million homes in 2006. The share of vacation-homes rose, making up 14% of all home sales, up from 12% in 2005. For comparison, primary-residence sales fell 4.1% during the time in 2006. Of second home buyers, 8 out of 10 thought it was a good idea to invest in real estate while only 57% of primary-residence buyers thought the same. Since our Hayward area housing market has a large percentage of vacation homes, this is very good news. And, based on the past few weeks of activity this is going to be a “very” good summer.
Come and see us, the forecast for the week is warm and wonderful, but please be mindful that fire danger is high. Have a great weekend and ENJOY, LIFE IS GOOD!
Chris McGrath
Friday, May 04, 2007
Friday, April 20, 2007
WILDERNESS LAKES
Sawyer County has assembled a task force to explore the possibility of creating a fourth classification for those bodies of water considered “Wilderness Lakes”, that is, lakes with special features and/or conditions. For some it will be welcomed and yet others are concerned about the economic effect as well as property owner rights; specifically the possibility of devaluation on those particular lakes that may be identified as needing this “protection” from development.
The Northland Area Builders Association has suggested that further environmental and economic impact studies be conducted by a third party(s). NABA has also suggested that property rights be addressed in addition to storm water runoff management plans. They seek to achieve greater efficiencies to protect the lakes without devaluing the land owner’s investment.
If you wish more information please click on the hyper link below to review the proposed Lake Class Development Standards, and stayed tuned. Lake Class Development Standars
It is sunny and wonderful in the north woods and the forecast for the weekend sounds wonderful…come and see us!
Have a great weekend and ENJOY….LIFE IS GOOD!
Gary Nathan
The Northland Area Builders Association has suggested that further environmental and economic impact studies be conducted by a third party(s). NABA has also suggested that property rights be addressed in addition to storm water runoff management plans. They seek to achieve greater efficiencies to protect the lakes without devaluing the land owner’s investment.
If you wish more information please click on the hyper link below to review the proposed Lake Class Development Standards, and stayed tuned. Lake Class Development Standars
It is sunny and wonderful in the north woods and the forecast for the weekend sounds wonderful…come and see us!
Have a great weekend and ENJOY….LIFE IS GOOD!
Gary Nathan
Monday, April 09, 2007
Budding Retirees
Budding Retirees
Americans age 55 and older will buy one in every five new homes this year – over $100 billion worth, that according to research done by the National Association of Home Builders.
These budding retirees tend to be wealthier than younger age groups. They are far more active and health-conscious than past generations. Because of the real estate boom many made money on previous home sales or they have a big home equity cushion in their current home.
Most new retirees (the 55+ crowd) are looking for a more “open lifestyle”. They want their retirement to be fun with some work on the side rather than work with fun on the side.
Well, there are few places more fun than the Hayward area; the opportunities are many for healthy, fun living in our wooded lake country. Come see us!
Enjoy, Life Is Good!
Gary A. Nathan
Americans age 55 and older will buy one in every five new homes this year – over $100 billion worth, that according to research done by the National Association of Home Builders.
These budding retirees tend to be wealthier than younger age groups. They are far more active and health-conscious than past generations. Because of the real estate boom many made money on previous home sales or they have a big home equity cushion in their current home.
Most new retirees (the 55+ crowd) are looking for a more “open lifestyle”. They want their retirement to be fun with some work on the side rather than work with fun on the side.
Well, there are few places more fun than the Hayward area; the opportunities are many for healthy, fun living in our wooded lake country. Come see us!
Enjoy, Life Is Good!
Gary A. Nathan
Wednesday, November 29, 2006
What’s In Your Wallet?
What’s In Your Wallet?
The results are in on the first few days of the holiday shopping season and depending upon your economic barometer you
may or may not be surprised. The fear was that the housing slowdown might dampen consumer spirits. According to one source in USA TODAY all indications point to a pretty robust season for retailers, in fact we spent 19% more over this past holiday weekend than in the same period in 2005. Apparently there was some moola left in the wallets of more than 140 million Americans who were shopping over the Thanksgiving holiday. Despite all the negatives we hear in the media the bigger picture seems to indicate that we are pretty well off.
Have a great week, embrace this holiday season and ENJOY, LIFE IS GOOD!
Gary A. Nathan
The results are in on the first few days of the holiday shopping season and depending upon your economic barometer you
may or may not be surprised. The fear was that the housing slowdown might dampen consumer spirits. According to one source in USA TODAY all indications point to a pretty robust season for retailers, in fact we spent 19% more over this past holiday weekend than in the same period in 2005. Apparently there was some moola left in the wallets of more than 140 million Americans who were shopping over the Thanksgiving holiday. Despite all the negatives we hear in the media the bigger picture seems to indicate that we are pretty well off.
Have a great week, embrace this holiday season and ENJOY, LIFE IS GOOD!
Gary A. Nathan
Thursday, November 16, 2006
Great Investment
The Wall Street Journal recently reported that the supply of homes for sale in October has declined in most markets, that is a positive sign for sellers; usually the reverse is true. Inventories do remain above year-earlier levels but the latest data confirms that the surplus is on the decline. Part of the decline may be do to the fact that some sellers are taking their homes off the market and waiting to re-enter when pricing is more in line with their expectations.
For the most part we know that home ownership is a safe and secure way to invest and to build long-term wealth. According to statistics in a recent National Assn. of Realtors publication the price of homes bought ten years ago has increased 88 percent. The number of households is expected to increase 15 percent during the next 10 years thus creating a continued high demand for homes.
The large inventory probably won’t last long, housing prices are forecasted to post positive gains, interest rates are comparable to 40-year lows and even our former Federal Reserve Chair, Alan Greenspan, said that housing prospects are looking up and that most of the negatives are probably behind us. Sounds like it may be a great time to buy a home.
Have a wonderful Thanksgiving holiday!
Enjoy, Life Is Good!
Gary A. Nathan
For the most part we know that home ownership is a safe and secure way to invest and to build long-term wealth. According to statistics in a recent National Assn. of Realtors publication the price of homes bought ten years ago has increased 88 percent. The number of households is expected to increase 15 percent during the next 10 years thus creating a continued high demand for homes.
The large inventory probably won’t last long, housing prices are forecasted to post positive gains, interest rates are comparable to 40-year lows and even our former Federal Reserve Chair, Alan Greenspan, said that housing prospects are looking up and that most of the negatives are probably behind us. Sounds like it may be a great time to buy a home.
Have a wonderful Thanksgiving holiday!
Enjoy, Life Is Good!
Gary A. Nathan
Thursday, November 09, 2006
How is Lake Frontage valued?
How is Lake Frontage valued?
A lake property is valued based on 4 primary factors: The first is the primary frontage – this is straight line frontage (not meandering) that is necessary for a build-able lot on the lake the lot is located on. The second factor is the “excess frontage”. Excess frontage is the straight line frontage that cannot be used as a separate build-able lot. The third factor is any improvements (i.e. home, garage, outbuildings). The 4th factor is additional acreage that is above average for the lake the property is located on (i.e. if the average lake parcel is 1.5 acres, a property with 4.5 acres would have extra value in the additional 3 acres over and above the norm for the lake).
One of the myths of lake frontage value is that each foot is worth the same. Market data has consistently shown that value of excess frontage is approximately 40% of the value of primary frontage – this is why township assessors use this formula to apply market and taxable values to lake properties. Here is an example based on $4,500/ foot frontage on Round Lake (that is what exceptional frontage on Round Lake has sold for over the past year). Let’s say there are two new very desirable lake lots for sale on Round Lake. One has 199’ of straight line frontage, the other has 200’. The one with 199’ is valued at $628,200 and the one with ONE EXTRA FOOT is valued at $900,000 – a $271,800 difference for one extra foot of frontage. The reason is that the 200’ lot can be subdivided into two build-able lots (this example assumes this lot has enough square footage to divide it into two lots), and the 199’ lot cannot be divided into two build-able lake lots no matter how many square feet it has. This is information every lake property owner needs to know especially those who are in the process of determining a list price for their lake property and/or those who are looking to purchase new lake property.
Different lakes in our County have different classifications resulting in different minimum lot sizes, required lake front footage, lot line setbacks, etc… – this will be discussed in a future blog entry.
Life is Good...Enjoy!
A lake property is valued based on 4 primary factors: The first is the primary frontage – this is straight line frontage (not meandering) that is necessary for a build-able lot on the lake the lot is located on. The second factor is the “excess frontage”. Excess frontage is the straight line frontage that cannot be used as a separate build-able lot. The third factor is any improvements (i.e. home, garage, outbuildings). The 4th factor is additional acreage that is above average for the lake the property is located on (i.e. if the average lake parcel is 1.5 acres, a property with 4.5 acres would have extra value in the additional 3 acres over and above the norm for the lake).
One of the myths of lake frontage value is that each foot is worth the same. Market data has consistently shown that value of excess frontage is approximately 40% of the value of primary frontage – this is why township assessors use this formula to apply market and taxable values to lake properties. Here is an example based on $4,500/ foot frontage on Round Lake (that is what exceptional frontage on Round Lake has sold for over the past year). Let’s say there are two new very desirable lake lots for sale on Round Lake. One has 199’ of straight line frontage, the other has 200’. The one with 199’ is valued at $628,200 and the one with ONE EXTRA FOOT is valued at $900,000 – a $271,800 difference for one extra foot of frontage. The reason is that the 200’ lot can be subdivided into two build-able lots (this example assumes this lot has enough square footage to divide it into two lots), and the 199’ lot cannot be divided into two build-able lake lots no matter how many square feet it has. This is information every lake property owner needs to know especially those who are in the process of determining a list price for their lake property and/or those who are looking to purchase new lake property.
Different lakes in our County have different classifications resulting in different minimum lot sizes, required lake front footage, lot line setbacks, etc… – this will be discussed in a future blog entry.
Life is Good...Enjoy!
Thursday, November 02, 2006
Memories
This past week I was reading the Historical Vignettes section of our infamous ‘Visitor”, Hayward’s original Visitor Magazine; the piece was a wonderful recap of the stories of the Chicago Club and Lakeshore Fishing Club. It was full of the memories of national regattas, dances, moon reflections on the lake, fishing and the guides who made those trips adventurous. There were anecdotes of the dreams, plans and ambitious building projects of the several owners and accounts of the guides, vacationing guests, parents, children and grandchildren. One guide said “The best part of my job was meeting all the interesting people and exchanging stories with the guests as well as the other guides”.
The best part of my work is meeting the many interesting people who want to be a part of this north woods experience; making their own memories and sharing those with family and friends.
Have a great weekend, make it memorable!
Enjoy, Life Is Good!
Gary A. Nathan
The best part of my work is meeting the many interesting people who want to be a part of this north woods experience; making their own memories and sharing those with family and friends.
Have a great weekend, make it memorable!
Enjoy, Life Is Good!
Gary A. Nathan
Thursday, October 26, 2006
No Guarantees
Investment in real estate is much like the stock market and many other investments, there are no guarantees of return. If you have had the privilege of making any investments lately you know there are a plethora of disclosures to read and sign. They all make you aware of the fact that you are making the decision to buy and/or invest on the basis of your own free will, no one encouraged you to invest and that no one is standing over you with an axe in hand.
Some stocks do well and some are a nightmare; the old “you win some and you lose some”. For some of us the losing was pretty painful. The upside to real estate, at least in our area, is that there has been little downside. True, if you overpaid you may get beat up. While there are no guarantees with real estate you at least get to enjoy living in it, walking on it or at the very least you get to look at it. I can’t say that I spend much time doing the same with my meager stock portfolio. Your thoughts?
Have a great weekend, I am traveling to warm North Dakota and western Minnesota to visit family. The national holiday is coming soon to northern Wisconsin…..the pursuit of the elusive 30-point buck!
Enjoy, Life Is Good!
Gary A.
Some stocks do well and some are a nightmare; the old “you win some and you lose some”. For some of us the losing was pretty painful. The upside to real estate, at least in our area, is that there has been little downside. True, if you overpaid you may get beat up. While there are no guarantees with real estate you at least get to enjoy living in it, walking on it or at the very least you get to look at it. I can’t say that I spend much time doing the same with my meager stock portfolio. Your thoughts?
Have a great weekend, I am traveling to warm North Dakota and western Minnesota to visit family. The national holiday is coming soon to northern Wisconsin…..the pursuit of the elusive 30-point buck!
Enjoy, Life Is Good!
Gary A.
Saturday, October 21, 2006
SOLID GROUND
SOLID GROUND
The housing market does appear to be on solid ground and the October forecasts from many different sources report that the recent cooling will have less than expected negative impact on the economy as a whole. August sales were definitely lower from a year earlier and there is a pretty large inventory.
Personally I think the media tends to report the extreme which has a negative affect on both buyers and sellers.
We consumers continue to spend and the falling energy prices and recent Dow Jones run has certainly triggered smiles.
Locally we just keep chugging along and much of the above translates into continued buyer interest; the forecast for the rest of the year and the first half of next year looks to be very good.
My advice to buyers is to not postpone their prospecting for that dream cabin, home or land. Historically speaking inventories are strong, mortgage rates are good and sellers are in the mood to sell.
Have a wonderful weekend……….
Enjoy, Life Is Good!
Gary A. Nathan
Woodland Developments & Realty
15617 Railroad Street, Hayward, WI 54843
715-634-2110
FAX 715-634-2884
nathan@woodlanddevrealty.com
The housing market does appear to be on solid ground and the October forecasts from many different sources report that the recent cooling will have less than expected negative impact on the economy as a whole. August sales were definitely lower from a year earlier and there is a pretty large inventory.
Personally I think the media tends to report the extreme which has a negative affect on both buyers and sellers.
We consumers continue to spend and the falling energy prices and recent Dow Jones run has certainly triggered smiles.
Locally we just keep chugging along and much of the above translates into continued buyer interest; the forecast for the rest of the year and the first half of next year looks to be very good.
My advice to buyers is to not postpone their prospecting for that dream cabin, home or land. Historically speaking inventories are strong, mortgage rates are good and sellers are in the mood to sell.
Have a wonderful weekend……….
Enjoy, Life Is Good!
Gary A. Nathan
Woodland Developments & Realty
15617 Railroad Street, Hayward, WI 54843
715-634-2110
FAX 715-634-2884
nathan@woodlanddevrealty.com
Friday, September 29, 2006
A Great Opportunity
A Great Opportunity
We have all read and heard about the soft market and how “it is no longer a seller’s market” and home sales have fallen as well as new home starts. So if it isn’t a seller’s market it must be a buyer’s market. This may be the perfect time for buyers to take advantage of the large inventory of properties; it is certainly true that the inventory of lake homes and off-water homes is above last year’s level.
There are some other factors for buyers to take into consideration, there is an apparent lowering of prices on some homes coupled with mortgage rates at a stall and appearing to fall a little. Sellers are also offering interest rate buy-downs, sharing of closing costs, pricing incentives and even gifts like home warranties, house cleaning for six months and fishing boats. I personally like the fishing boat idea.
The good news for buyers is that all this may translate into being able to afford a house now that may have been a future dream as well as a large inventory from which to choose. Prices may not go any lower in the future but in most areas, particularly our area, properties are still appreciating at no less than 4-6 percent. Overall the next six months just may provide some great opportunities. My advice to sellers is to get dressed for the dance; translated that means get your property looking great.
The air is crisp and fresh in the mornings and the fall colors are at near peak so plan to spend some time in the Hayward area soon.
Have a great weekend and
Enjoy, Life is Good!
Gary A. Nathan
We have all read and heard about the soft market and how “it is no longer a seller’s market” and home sales have fallen as well as new home starts. So if it isn’t a seller’s market it must be a buyer’s market. This may be the perfect time for buyers to take advantage of the large inventory of properties; it is certainly true that the inventory of lake homes and off-water homes is above last year’s level.
There are some other factors for buyers to take into consideration, there is an apparent lowering of prices on some homes coupled with mortgage rates at a stall and appearing to fall a little. Sellers are also offering interest rate buy-downs, sharing of closing costs, pricing incentives and even gifts like home warranties, house cleaning for six months and fishing boats. I personally like the fishing boat idea.
The good news for buyers is that all this may translate into being able to afford a house now that may have been a future dream as well as a large inventory from which to choose. Prices may not go any lower in the future but in most areas, particularly our area, properties are still appreciating at no less than 4-6 percent. Overall the next six months just may provide some great opportunities. My advice to sellers is to get dressed for the dance; translated that means get your property looking great.
The air is crisp and fresh in the mornings and the fall colors are at near peak so plan to spend some time in the Hayward area soon.
Have a great weekend and
Enjoy, Life is Good!
Gary A. Nathan
Subscribe to:
Posts (Atom)