Where Millennial Home Buyers Are Buying Today

Where Millennial Home Buyers Are Buying Today

The fact that young Americans aren't buying homes at the rate they used to isn't news. Ever since the housing crash, Millennial homeownership rates have been lower than historically normal. In fact, homeownership rates among buyers between the ages of 18 and 34 dropped 8 percent between 2006 and 2015.

There are, of course, many factors that have made it difficult for younger Americans to buy in recent years – including student loan debt, a challenging job market, rising rent, and higher home prices. However, though overall numbers show fewer first-time buyers active in the market, in some cities, Millennial home buyers are actually quite well represented.

Take Elk Grove, CA, for example. In Elk Grove, the homeownership rate among people under the age of 35 was just over 60 percent in 2015, mostly due to its proximity to major metropolitan areas and a median home value around $350,000. Other cities that have an above average number of Millennial home buyers include Sioux Falls, SD, Bakersfield, CA, Peoria, IL, Cary, NC, and Chattanooga, TN. And, though they all have a different mix of factors, the most common thread among all the top cities for younger buyers are affordable homes for sale and a growing economy.

2016 Home Sales Data on Teal, Lost Land & Ghost Lakes

2016 Home Sales Data on Teal, Lost Land & Ghost Lakes

We are pleased to provide you with the 2016 results for residential sales on Teal, Lost Land and Ghost lakes. This information includes data we secured from properties listed on the Northwest Wisconsin Multiple Listing Service (MLS); it does not take into account sales that may have occurred directly between parties. 

The report provides helpful information with respect to the list and sales price, the size of lot, front feet, bedrooms, bathrooms, square footage of the home, year built, days on market (DOM), etc.

Our analysis indicates that there were 10 unit sales in 2016 on the lakes compared to 9 sales in 2015. The average days on market were 158 versus 302 in 2015 while the average sales price in 2016 was $279,620 as compared to $177,878 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 95.7% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 3% below the EFMV.

We have also compiled the same sales information for other area lakes. Should you wish to secure additional information on any sales or other real estate information, please feel free to contact our office and a member of our dedicated team of real estate experts will gladly help you. If you are interested in having us complete a comparative market analysis (CMA) for your property, just call our office and we will do so at no cost or obligation.

Respectfully,

Gary A. Nathan

Broker 

2016 Nelson & Smith Lakes Home Sales Data

2016 Nelson & Smith Lakes Home Sales Data

We are pleased to provide you with the 2016 results for residential sales on Nelson and Smith lakes. This information includes data we secured from properties listed on the Northwest Wisconsin Multiple Listing Service (MLS); it does not take into account sales that may have occurred directly between parties. 

The report provides helpful information with respect to the list and sales price, the size of lot, front feet, bedrooms, bathrooms, square footage of the home, year built, days on market (DOM), etc. 

Our analysis indicates that there were 19 unit sales in 2016 on Nelson Lake compared to 10 sales in 2015; there were no recorded sales in 2016 on Smith Lake compared to 2 sales in 2015. The average days on market were 286 versus 232 in 2015 while the average sales price in 2016 was $230,109 as compared to $209,058 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 94% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 1% above the EFMV. 

We have also compiled the same sales information for other area lakes. Should you wish to secure additional information on any sales or other real estate information, please feel free to contact our office and a member of our dedicated team of real estate experts will gladly help you. If you are interested in having us complete a comparative market analysis (CMA) for your property, just call our office and we will do so at no cost or obligation.

Respectfully,

Gary A. Nathan

Broker 

Survey Finds Americans In The Mood To Buy

Survey Finds Americans In The Mood To Buy

There are an endless number of reasons you might decide to buy a home at any particular time in your life. Whether you just got a new job on the other side of town or are looking for a place closer to family, the motivation behind a move is usually very personal. 

But there are economic factors at play, as well. Your financial situation, optimism about the future, and perception of the market can also influence a decision to stay where you are or pack your belongings.

Fannie Mae's monthly Home Purchase Sentiment Index looks at how Americans are feeling about buying a home, the real estate market, and their personal economic outlook. In December 2016, the overall index fell slightly from the month before, though the number of Americans who said they thought it was a good time to buy a house was up from November. Doug Duncan, Fannie Mae's senior vice president and chief economist, says there's been an increase in economic optimism recently but whether it carries through the rest of the year is uncertain.

“A spike in economic optimism in the immediate aftermath of an election is typical,” Duncan said. “Whether consumers will sustain this level of optimism into 2017 remains unclear … If this optimism comes to fruition, it should translate into stronger income growth and increased job security for consumers – the two HPSI components that could help support housing sentiment this year.”

2016 LCO Lake Home Sales Data

2016 LCO Lake Home Sales Data

We are pleased to provide you with the 2016 results for residential sales on Lac Courte Oreilles and Little Lac Courte Oreilles lakes. This information includes data we secured from properties listed on the Northwest Wisconsin Multiple Listing Service (MLS); it does not take into account sales that may have occurred directly between parties.

Our analysis indicates that there were 19 unit sales in 2016 on the lakes compared to 17 sales in 2015. The average days on market were 274 versus 348 in 2015 while the average sales price in 2016 was $471,316 as compared to $399,479 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 95% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 13% above the EFMV.

We have also compiled the same sales information for other area lakes. Should you wish to secure additional information on any sales or other real estate information, please feel free to contact our office and a member of our dedicated team of real estate experts will gladly help you. If you are interested in having us complete a comparative market analysis (CMA) for your property, just call our office and we will do so at no cost or obligation. 

Respectfully,

Gary A. Nathan,
Broker

2016 Grindstone Lake Home Sales Data

2016 Grindstone Lake Home Sales Data

We are pleased to provide you with the 2016 results for residential sales on Grindstone Lake. This information includes data we secured from properties listed on the Northwest Wisconsin Multiple Listing Service (MLS); it does not take into account sales that may have occurred directly between parties.

The report provides helpful information with respect to the list and sales price, the size of lot, front feet, bedrooms, bathrooms, square footage of the home, year built, days on market (DOM), etc.

Our analysis indicates that there were 15 unit sales in 2016 on the lake compared to 8 sales in 2015. The average days on market were 232 versus 186 in 2015 while the average sales price in 2016 was $286,803 as compared to $338,237 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 93% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately one-half of 1% (.05) below the EFMV.

We have also compiled the same sales information for other area lakes. Should you wish to secure additional information on any sales or other real estate information, please feel free to contact our office and a member of our dedicated team of real estate experts will gladly help you. If you are interested in having us complete a comparative market analysis (CMA) for your property, just call our office and we will do so at no cost or obligation.

Respectfully,

Gary A. Nathan
Broker

Housing Outlook Sees Strong Year Ahead

Housing Outlook Sees Strong Year Ahead

Though there is some uncertainty about how changing economic policies might affect the economy and housing market in the months to come, Fannie Mae's most recent Economic and Housing Outlook from their Economic & Strategic Research Group sees continued improvement ahead. In short, improved consumer spending, a healthy labor market, and rising wages should continue to support economic growth.

But what does this mean for the housing market and real estate this year? Well, according to Doug Duncan, Fannie Mae's chief economist, the housing market should remain strong and build on last year's performance. “We expect housing to remain resilient and continue its recovery in 2017, with affordability standing out as the industry's greatest obstacle, particularly for first-time homeowners,” Duncan said. “Demographic factors, however, are positive. Our research shows that older Millennials have begun to buy homes and close the homeownership attainment gap with their predecessors.” An increasing number of younger buyers is good news for the market, as is the expected bump in new home construction.

If the supply of homes for sale can keep up with buyer demand, a better balanced market may help alleviate affordability concerns and lead to favorable housing conditions in 2017.

2016 Callahan and Mud Lake Homes Sales Data

2016 Callahan and Mud Lake Home Sales Data

We are pleased to provide you with the 2016 results for residential sales on Callahan and Mud lakes. This information includes data we secured from properties listed on the Northwest Wisconsin Multiple Listing Service (MLS); it does not take into account sales that may have occurred directly between parties. The report provides helpful information with respect to the list and sales price, the size of lot, front feet, bedrooms, bathrooms, square footage of the home, year built, days on market (DOM), etc. 

Our analysis indicates that there were 3 unit sales in 2016 on the lakes compared to just one sale in 2015. The average days on market were 284 versus 424 in 2015 while the average sales price in 2016 was $362,667 as compared to $500,000 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 95% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 14% above the EFMV. 

We have also compiled the same sales information for other area lakes. Should you wish to secure additional information on any sales or other real estate information, please feel free to contact our office and a member of our dedicated team of real estate experts will gladly help you. If you are interested in having us complete a comparative market analysis (CMA) for your property, just call our office and we will do so at no cost or obligation. 

Respectfully,

Gary A. Nathan

Broker

12th Annual Regional Hospice/WHSM Polar Plunge

12th Annual Regional Hospice/WHSM Polar Plunge

On March 11th, the Regional Hospice Services will be hosting a polar plunge on Lake Hayward. Registration starts at 2:30 and the jump begins at 3:30. Awards and prizes will be presented after the event along with pizza and drinks.

Regional Hospice Services is a community based non-profit organization that provides support to patients and families dealing with life-limiting conditions. Your support helps to continue their compassionate care to those in our community during what can be a very challenging time for families.

To register or request a plunge packet, visit the Regional Hospice Services website or click the following link: www.regionalhospice.org/contact.aspx

World's Largest Fat Bike Race

World's Largest Fat Bike Race

On Saturday, March 11th, the American Birkiebeiner Ski Foundation will host the World's Largest Fat Bike Race. This year is the 5th annual race and has grown steadily through the years. In 2013, fewer than 200 racers participated and this year, the field has expanded to 1,200 racers.

The race takes place on the historic Birkie trail through the forests of Bayfield and Sawyer counties. There are two circuits, a 47 kilometer race (The Big Fat) and a 23 kilometer race (The Chico).

Festivities will be held all weekend starting on March 10th. Also, on-snow demos will be held so you can test out a fat bike and see what fat bike riding is all about. You might find yet another winter hobby to enjoy in the Hayward area!

To see the full schedule of events, visit the Birkie website: www.birkie.com/bike/events/fat-bike-birkie/