Greetings from Hayward, WI!
My broker partners, Chris and Cindi McGrath, were skiing the OO Loop last night and this morning Cindi skied from OO north to the High Point feed station (14K marker) and conditions were perfect. Actually, Cindi said the conditions were the best all year; despite the rain we received this week. Kudos to the Birkie Foundation as they had a big crew out on the trail hand-picking debris off the trail yesterday.
The race is on! The Birkie Trail base is still very solid and should hold up without any problem for the race. See the link below for the Trail Report which is updated daily.
www.birkie.com/?page=1038
The housing statistics for Wisconsin and Sawyer County are finally in for the fourth quarter and year end 2008.
Sawyer County Q4 sales were 50 units which is down from 2007 Q4 sales of 68. The 2008 year end total sales were 213 housing units versus 296 in 2007.
Median prices in Sawyer County held nearly the same in 2008 at $170,000 year end vs. $171,400 for 2007. The fourth quarter of last year actually dipped to $160,000 compared to $177,500 in Q4 of 2007. It is pretty obvious that some short sales and foreclosures had an impact on Q4 median price.
Back to the Birkie - Next weekend is the BIG RACE, the 36th annual American Birkebeiner from Cable to Hayward! One of the many events that makes Hayward a world-class place to be!
Have a wonderful weekend and remember that Life is a Gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad St.
Hayward, WI 54843
Cell: 715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
Friday, February 13, 2009
Friday, February 06, 2009
Money Anyone?
Greetings from Hayward, WI
This week we had a good meeting with local lenders, Angie and Gloria, from Johnson Bank. The good news is that mortgage rates continue to remain low and there is plenty of money available to loan. In addition to that, there are several good first-time home owner loan packages, second-home owner packages and vacant waterfront land monies available. Obviously, one needs to have good credit.
Fortunately, Sawyer County is blessed with great lenders who have solid portfolios and continue to perform well. However, our government must do something to relax the mark-to-market accounting as lenders need the ability to lend for the mortgage and housing industry to recover and thrive. It's really vital to the economy.
The housing market is soft but our local residential property market and economy are faring better than national trends. At the same time it appears that the local existing housing market and home values are remaining fairly stable. If you're building, the good news is that construction pricing is at rock-bottom lows and qualified builders are available.
Next week 2008 Q4 home sales data for Wisconsin and our area should be available so I'll be able to report the latest numbers for last year.
This is a big weekend as the Lions 27th Pre-Birkie ski race kicks off tomorrow at 10:00 am; join us for the fun! I'll be at Mosquito Brook cheering on the racers and handing out goodies.
Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
This week we had a good meeting with local lenders, Angie and Gloria, from Johnson Bank. The good news is that mortgage rates continue to remain low and there is plenty of money available to loan. In addition to that, there are several good first-time home owner loan packages, second-home owner packages and vacant waterfront land monies available. Obviously, one needs to have good credit.
Fortunately, Sawyer County is blessed with great lenders who have solid portfolios and continue to perform well. However, our government must do something to relax the mark-to-market accounting as lenders need the ability to lend for the mortgage and housing industry to recover and thrive. It's really vital to the economy.
The housing market is soft but our local residential property market and economy are faring better than national trends. At the same time it appears that the local existing housing market and home values are remaining fairly stable. If you're building, the good news is that construction pricing is at rock-bottom lows and qualified builders are available.
Next week 2008 Q4 home sales data for Wisconsin and our area should be available so I'll be able to report the latest numbers for last year.
This is a big weekend as the Lions 27th Pre-Birkie ski race kicks off tomorrow at 10:00 am; join us for the fun! I'll be at Mosquito Brook cheering on the racers and handing out goodies.
Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
Friday, January 30, 2009
Sawyer County On The Move
Greetings from sunny and warmer than last week, Hayward!
We had a great week in Sawyer County this past week; I attended two ribbon cutting ceremonies that nets Sawyer County 70 quality jobs. There were many folks on hand to mark the grand openings of the new Great Lakes Renewable Energy Manufacturing Plant and NorthernBridges Health Care. These news jobs obviously contribute a great deal to the local economy in the way of much-needed income.
NorthernBridges is a for-profit employer which provides home health services to people who are disabled and/or elderly within an eleven county area of Northwest Wisconsin. Great Lakes Renewable Energy is a wood pellet manufacturing business that uses "green" production technology to make residential wood pellets for heating. The process provides virtually no
un-natural emissions. Terrific businesses with impressive leadership.
Since the two companies opened their doors, I can tell you that we have had an up-surge in inquiries for business and commercial space from ancillary businesses. Both companies already anticipate that they will grow the number of jobs which certainly will create more new business opportunities.
Add to that the fact that my "favorite" treat place opened its "new doors" just before January 1. Sean and Kara Carlson cut the ribbon on their new digs - Dairy Queen Grill & Chill which is conveniently located just two doors down from my office. They hired 28 new employees to help in the operation of this trademark treats establishment.
Sawyer County certainly has its share of folks who have lost their jobs due to downsizing and restructuring; for that I am certainly sorry and sad. Fortunately we have a strong County Government, a talented and dedicated Sawyer County Development Corporation and business and education leaders that have pulled together and have been working overtime to bring new jobs to our County.
New jobs means more consumer spending on goods and services as well as homes and commercial properties. I consider it a privilege to work with so many great folks and I expect that throughout the year there will be more good news in light of these challenging times.
We had a little snow this week and the trails are in great shape so come up and take advantage; remember that the Pre-Birkie and the Birkie are next month. Come and enjoy Sawyer County and all that it has to offer; I came here 29+ years ago and never left!
Life is a gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
We had a great week in Sawyer County this past week; I attended two ribbon cutting ceremonies that nets Sawyer County 70 quality jobs. There were many folks on hand to mark the grand openings of the new Great Lakes Renewable Energy Manufacturing Plant and NorthernBridges Health Care. These news jobs obviously contribute a great deal to the local economy in the way of much-needed income.
NorthernBridges is a for-profit employer which provides home health services to people who are disabled and/or elderly within an eleven county area of Northwest Wisconsin. Great Lakes Renewable Energy is a wood pellet manufacturing business that uses "green" production technology to make residential wood pellets for heating. The process provides virtually no
un-natural emissions. Terrific businesses with impressive leadership.
Since the two companies opened their doors, I can tell you that we have had an up-surge in inquiries for business and commercial space from ancillary businesses. Both companies already anticipate that they will grow the number of jobs which certainly will create more new business opportunities.
Add to that the fact that my "favorite" treat place opened its "new doors" just before January 1. Sean and Kara Carlson cut the ribbon on their new digs - Dairy Queen Grill & Chill which is conveniently located just two doors down from my office. They hired 28 new employees to help in the operation of this trademark treats establishment.
Sawyer County certainly has its share of folks who have lost their jobs due to downsizing and restructuring; for that I am certainly sorry and sad. Fortunately we have a strong County Government, a talented and dedicated Sawyer County Development Corporation and business and education leaders that have pulled together and have been working overtime to bring new jobs to our County.
New jobs means more consumer spending on goods and services as well as homes and commercial properties. I consider it a privilege to work with so many great folks and I expect that throughout the year there will be more good news in light of these challenging times.
We had a little snow this week and the trails are in great shape so come up and take advantage; remember that the Pre-Birkie and the Birkie are next month. Come and enjoy Sawyer County and all that it has to offer; I came here 29+ years ago and never left!
Life is a gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
Thursday, January 22, 2009
2009 Looking Ahead
Greetings from Hayward, WI!
There is some interesting information and data on house prices according to a recent article by Stephen Malpezzi in the Wisconsin Real Estate Magazine. Per the National Association of REALTORS® between 1968 and the present day, median household income rose from about $35,000 to about $50,000. On the other hand, the real median NAR house price rose from about $91,000 to a peak just near $220,000 in 2006. The numbers above are after adjustments for inflation, along with related data on median household income.
One surely realizes how this kind of year-after-year growth is not sustainable. Nationally we had 3-5% growth year in and year out which was faster than all other prices, and that was true for much of the decade before the 2006 peak. In Sawyer County we had several years of double digit increases. Fortunately, Wisconsin, and Sawyer County in particular, have fared much better over the past three years than much of the rest of the nation. Most of the Wisconsin housing markets have dipped 8 to 10% from their 2006 peaks.
With all the ups and downs, the U.S. economy (and Wisconsin’s) has turned in an average growth rate, per capita, adjusted for inflation, of around 1.7 percent, for most of the past century.
So what can we expect for 2009? No one has a crystal ball and I certainly won't make any crazy predictions. When we see housing inventories return to half a year’s inventory instead of a year or more we will probably be able to say we are in pretty good shape in the housing sector of the economy. But a great deal will also have to do with what the Fed is doing and will do regarding the overall state of the economy.
Doom and gloom do not have a seat at my table. Personally, I am optimistic that 2009 will be a solid year (see last week's blog) and suggest that all of us be patient during the correction. We will continue to be persistent in providing solid and timely information to buyers and sellers so that they can make informed decisions.
The 26th Annual Lions Pre-Birkie Ski Race is coming up on Saturday, February 7; this is really a great race. Hope all you snowmobilers and skiers are enjoying the snow!
Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
There is some interesting information and data on house prices according to a recent article by Stephen Malpezzi in the Wisconsin Real Estate Magazine. Per the National Association of REALTORS® between 1968 and the present day, median household income rose from about $35,000 to about $50,000. On the other hand, the real median NAR house price rose from about $91,000 to a peak just near $220,000 in 2006. The numbers above are after adjustments for inflation, along with related data on median household income.
One surely realizes how this kind of year-after-year growth is not sustainable. Nationally we had 3-5% growth year in and year out which was faster than all other prices, and that was true for much of the decade before the 2006 peak. In Sawyer County we had several years of double digit increases. Fortunately, Wisconsin, and Sawyer County in particular, have fared much better over the past three years than much of the rest of the nation. Most of the Wisconsin housing markets have dipped 8 to 10% from their 2006 peaks.
With all the ups and downs, the U.S. economy (and Wisconsin’s) has turned in an average growth rate, per capita, adjusted for inflation, of around 1.7 percent, for most of the past century.
So what can we expect for 2009? No one has a crystal ball and I certainly won't make any crazy predictions. When we see housing inventories return to half a year’s inventory instead of a year or more we will probably be able to say we are in pretty good shape in the housing sector of the economy. But a great deal will also have to do with what the Fed is doing and will do regarding the overall state of the economy.
Doom and gloom do not have a seat at my table. Personally, I am optimistic that 2009 will be a solid year (see last week's blog) and suggest that all of us be patient during the correction. We will continue to be persistent in providing solid and timely information to buyers and sellers so that they can make informed decisions.
The 26th Annual Lions Pre-Birkie Ski Race is coming up on Saturday, February 7; this is really a great race. Hope all you snowmobilers and skiers are enjoying the snow!
Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
Friday, January 16, 2009
More Than $50,000,000 Sold
Hayward, WI Real Estate
Have you heard enough bad news about real estate?
Yes, the market is slower than what it was three years ago, but ponder this. Hayward area real estate offices were involved in sales of more than $50,000,000 in residential waterfront and off-water homes in 2008! There were 113 waterfront home sales and 106 off-water home sales. This does not include any non-MLS homes that were sold. Not bad and the good new is that sales continue despite all the doom and gloom.
As soon as the Sawyer County fourth quarter and year-end numbers from the Wisconsin Realtors Association are available, I will report them to you. They won't be pretty in comparison to other years but remember $50,000,000 plus! People are still inquiring about properties & my day is scheduled tomorrow to show property - even in this weather!
This weekend is the Seeley Hills Classic Ski Race on Saturday and the Birkie Classic Trail Tour this Sunday. The snow is great and the temps are warming up....it is sunny and beautiful today.
Come on up and see us!
Life is a Gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Have you heard enough bad news about real estate?
Yes, the market is slower than what it was three years ago, but ponder this. Hayward area real estate offices were involved in sales of more than $50,000,000 in residential waterfront and off-water homes in 2008! There were 113 waterfront home sales and 106 off-water home sales. This does not include any non-MLS homes that were sold. Not bad and the good new is that sales continue despite all the doom and gloom.
As soon as the Sawyer County fourth quarter and year-end numbers from the Wisconsin Realtors Association are available, I will report them to you. They won't be pretty in comparison to other years but remember $50,000,000 plus! People are still inquiring about properties & my day is scheduled tomorrow to show property - even in this weather!
This weekend is the Seeley Hills Classic Ski Race on Saturday and the Birkie Classic Trail Tour this Sunday. The snow is great and the temps are warming up....it is sunny and beautiful today.
Come on up and see us!
Life is a Gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Monday, December 22, 2008
Thursday, December 11, 2008
Assessments - Market Impact
Greetings from snowy and beautiful Hayward, Wisconsin!
Every year I say the same thing when we near the end...where did the time go? Another year is almost in the books and it has been one to remember and to forget. So while you are reflecting, I want to call your attention to looking ahead in terms of property assessments.
Most of you know that 2005 ended the boom in real estate around the country and that is true for our area as well. Your property tax bill will be arriving in December and, of course, your real estate taxes are based upon the assessed value of your property. So that raises the question of whether the assessed value and the fair market assessed value (what the market is willing to pay) of your property is realistic?
Your 2008 property tax is based on the assessed value of your property as of January 1, 2008; in Wisconsin we pay real estate taxes in the rears which is different than our friends in Minnesota. So there is no correcting assessments for 2008.
Your local assessor will soon be establishing new values for 2009 which you may want to pay close attention to when you receive your notice this spring. There is an opportunity for you to discuss and review the assessment with your local assessor and even ask for a local board review. If you don't receive a notice, be sure to check with your Town Clerk for a copy of your new assessment. Filing an objection to your assessment is a fairly easy process.
When I review the numbers through the third quarter of this year I have not seen a great deal of change but I believe the fourth quarter numbers will have a much bigger impact due to foreclosures around the state. While most of us would agree that we want our properties to be valued correctly, we don't want to have to pay any more tax than necessary.
If you want more detailed information, please visit the Department of Revenue website at www.dor.state.wi.us/html/govpub.html. This site is very helpful with respect to property taxes and the assessment process.
On the local level:
The big hunt is completed and most folks I talk to said it was more challenging than usual to shoot or even see a big buck.
This is a wonderful time of year to visit Hayward as we prepare for many winter events. Come on up, shop and dine at our local establishments and enjoy our "north woods" atmosphere....you will be glad you did.
Life is a Gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Every year I say the same thing when we near the end...where did the time go? Another year is almost in the books and it has been one to remember and to forget. So while you are reflecting, I want to call your attention to looking ahead in terms of property assessments.
Most of you know that 2005 ended the boom in real estate around the country and that is true for our area as well. Your property tax bill will be arriving in December and, of course, your real estate taxes are based upon the assessed value of your property. So that raises the question of whether the assessed value and the fair market assessed value (what the market is willing to pay) of your property is realistic?
Your 2008 property tax is based on the assessed value of your property as of January 1, 2008; in Wisconsin we pay real estate taxes in the rears which is different than our friends in Minnesota. So there is no correcting assessments for 2008.
Your local assessor will soon be establishing new values for 2009 which you may want to pay close attention to when you receive your notice this spring. There is an opportunity for you to discuss and review the assessment with your local assessor and even ask for a local board review. If you don't receive a notice, be sure to check with your Town Clerk for a copy of your new assessment. Filing an objection to your assessment is a fairly easy process.
When I review the numbers through the third quarter of this year I have not seen a great deal of change but I believe the fourth quarter numbers will have a much bigger impact due to foreclosures around the state. While most of us would agree that we want our properties to be valued correctly, we don't want to have to pay any more tax than necessary.
If you want more detailed information, please visit the Department of Revenue website at www.dor.state.wi.us/html/govpub.html. This site is very helpful with respect to property taxes and the assessment process.
On the local level:
The big hunt is completed and most folks I talk to said it was more challenging than usual to shoot or even see a big buck.
This is a wonderful time of year to visit Hayward as we prepare for many winter events. Come on up, shop and dine at our local establishments and enjoy our "north woods" atmosphere....you will be glad you did.
Life is a Gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Thursday, December 04, 2008
HOME REMODELING = HAPPY RETURNS
Greetings from cold but mosquito-free Hayward, WI!
For most of my life it seems that I have been involved in remodeling and many times I have wondered if it is really worth it. If you are considering a rehab job, here are some thoughts and statistics from the latest National Assn. of Realtors “Remodeling’s 2008-2009 Cost vs. Value Report”.
On average, you can expect to recoup about 67% of your investment in 30 different home improvement projects. The projects range from kitchen and bathroom remodeling to the addition of a master suite, a garage or build-out of your attic. At the height of the housing boom in 2005 (yes, just 3+ years ago) home owners received an average payback of about 87% on these same projects. Still 67% is a pretty high rate when you consider our weak housing market. And remember that this is a national average; our area would tend to be higher because of lower labor costs.
Guess what the top project paybacks are.......ok, I won’t keep you in suspense. Exterior projects like siding, decks and windows (see my friends at Glassworks---an unpaid ad) lead the way for recovery on dollars spent. And why not, all of the above provide great curb appeal. According to the report only kitchen re-dos can compare to the exterior projects.
We do have to take into consideration that the cost recouped for any project depends on a variety of factors including the look of the finished project, condition of the rest of the house and the value of other homes in the neighborhood.
From my perspective, renovations do more than just give us good payback when we sell. Keep in mind you get to live in and enjoy the renovation; a buyer has less to do when you sell which also results in less negotiation over imperfections. Less stress for buyers usually means more money for the seller.
For most of my life it seems that I have been involved in remodeling and many times I have wondered if it is really worth it. If you are considering a rehab job, here are some thoughts and statistics from the latest National Assn. of Realtors “Remodeling’s 2008-2009 Cost vs. Value Report”.
On average, you can expect to recoup about 67% of your investment in 30 different home improvement projects. The projects range from kitchen and bathroom remodeling to the addition of a master suite, a garage or build-out of your attic. At the height of the housing boom in 2005 (yes, just 3+ years ago) home owners received an average payback of about 87% on these same projects. Still 67% is a pretty high rate when you consider our weak housing market. And remember that this is a national average; our area would tend to be higher because of lower labor costs.
Guess what the top project paybacks are.......ok, I won’t keep you in suspense. Exterior projects like siding, decks and windows (see my friends at Glassworks---an unpaid ad) lead the way for recovery on dollars spent. And why not, all of the above provide great curb appeal. According to the report only kitchen re-dos can compare to the exterior projects.
We do have to take into consideration that the cost recouped for any project depends on a variety of factors including the look of the finished project, condition of the rest of the house and the value of other homes in the neighborhood.
From my perspective, renovations do more than just give us good payback when we sell. Keep in mind you get to live in and enjoy the renovation; a buyer has less to do when you sell which also results in less negotiation over imperfections. Less stress for buyers usually means more money for the seller.
Remember my blog back a couple of weeks where I talked about growing up in a farm home….take a look at the picture attached taken over Thanksgiving vacation. On the left is my brother, Dennis, at our old farm home. If you think the outside looks bad, you should see the inside! No amount of money could rehab this place! We didn’t leave it this way but you wouldn’t want all the boring details.
The long and short is that despite the weak housing market remodeling dollars spent is still a solid investment.
Come on up and see us; there is ice on the small lakes and just starting on the big lakes; word has it that fishing is very good. Have a great weekend and enjoy!
Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Come on up and see us; there is ice on the small lakes and just starting on the big lakes; word has it that fishing is very good. Have a great weekend and enjoy!
Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Friday, November 21, 2008
NO SURPRISE - Q3 HOME SALES DOWN
Greetings from Hayward, WI!
Third quarter home sales and median prices slipped this past quarter as compared to the third quarter of 2007, this according to a recent report from the Wisconsin Realtors Assn.
Wisconsin existing home sales were off by 16.7% while median prices finished 5.3% lower at an average of $160,000. Nationally existing home sales were down 7.7% with some pockets of the U.S. starting to show some positive signs,
Sawyer County results showed that existing home sales for Q3 totaled 76 as compared to 101 sales for the same period in 2007. The median price sank to $170,000 as compared to $180,000 a year ago. Interestingly enough that median price of $170,000 for Q3 is exactly where we finished in 2007 in average median price. Like the nation and the State there are areas in Sawyer County that have fared better than others.
Is there any good news? Since 2001 housing has still appreciated 24.4%; owning your own home continues to be a good investment. Mortgage rates remain very favorable and banks are willing to loan money to qualified buyers. Inventories are high so buyers have much to choose from. According to William Malkansian, president of the Wisconsin Realtors Assn., modest downward price adjustments can actually be a healthy thing in a soft market. Buying in this market should result in solid appreciation over the long term.
But the really big news is that the sacred holiday has arrived, yes it is Deer Season in Wisconsin and it opens on Saturday. Have a great weekend and plan to make a trip to Hayward soon. Happy Thanksgiving and safe travels as well.
Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
Third quarter home sales and median prices slipped this past quarter as compared to the third quarter of 2007, this according to a recent report from the Wisconsin Realtors Assn.
Wisconsin existing home sales were off by 16.7% while median prices finished 5.3% lower at an average of $160,000. Nationally existing home sales were down 7.7% with some pockets of the U.S. starting to show some positive signs,
Sawyer County results showed that existing home sales for Q3 totaled 76 as compared to 101 sales for the same period in 2007. The median price sank to $170,000 as compared to $180,000 a year ago. Interestingly enough that median price of $170,000 for Q3 is exactly where we finished in 2007 in average median price. Like the nation and the State there are areas in Sawyer County that have fared better than others.
Is there any good news? Since 2001 housing has still appreciated 24.4%; owning your own home continues to be a good investment. Mortgage rates remain very favorable and banks are willing to loan money to qualified buyers. Inventories are high so buyers have much to choose from. According to William Malkansian, president of the Wisconsin Realtors Assn., modest downward price adjustments can actually be a healthy thing in a soft market. Buying in this market should result in solid appreciation over the long term.
But the really big news is that the sacred holiday has arrived, yes it is Deer Season in Wisconsin and it opens on Saturday. Have a great weekend and plan to make a trip to Hayward soon. Happy Thanksgiving and safe travels as well.
Life is a Gift…Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
Saturday, November 15, 2008
Bailout Locally
Greetings from the North Woods!
The bailout has been talked about and written about a great deal but how does it affect us locally? While we have not suffered as many foreclosures or a real estate bubble that has burst, we have certainly been affected. From my perspective, the biggest issue facing all of us as buyers, sellers, realtors, etc. is the tight mortgage and credit markets. How quickly and "effectively" the bailout plan is implemented will have a big effect on buyers securing the credit they need in order to purchase the real estate we have to sell.
Locally, our financial institutions are very solid and actively making loans to qualified buyers. However the overall market meltdown and economic slowdown has triggered tighter lending policies. Gone, for the most part, are the days of zero to low down payments.
There are postives in all of this! Current lending policies cause people to only borrow according to affordability. Financial institutions have implemented plans to help keep people in their homes and forestall foreclosures. People are also having to budget and plan better. Sellers are more realistic in pricing and buyers are better at due diligence. Overall, I believe it can bring a new energy to the market. It is usually in the toughest circumstances that we learn the best lessons.
Additionally, I remain optimistic because the phone has kept ringing and deals are coming together. Traditionally November usually marks the beginning of the slowest period in real estate. Fortunately, that gives us time to reload and get ready for Valentines Day when the real estate market begins another busy season. The last time I checked, they weren't making more real estate - especially lakeshore!
Have a wonderful weekend and come on up and see us soon...Life is a Gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@cheqnet.net
www.garynathan.com
www.haywardwaterfront.com
The bailout has been talked about and written about a great deal but how does it affect us locally? While we have not suffered as many foreclosures or a real estate bubble that has burst, we have certainly been affected. From my perspective, the biggest issue facing all of us as buyers, sellers, realtors, etc. is the tight mortgage and credit markets. How quickly and "effectively" the bailout plan is implemented will have a big effect on buyers securing the credit they need in order to purchase the real estate we have to sell.
Locally, our financial institutions are very solid and actively making loans to qualified buyers. However the overall market meltdown and economic slowdown has triggered tighter lending policies. Gone, for the most part, are the days of zero to low down payments.
There are postives in all of this! Current lending policies cause people to only borrow according to affordability. Financial institutions have implemented plans to help keep people in their homes and forestall foreclosures. People are also having to budget and plan better. Sellers are more realistic in pricing and buyers are better at due diligence. Overall, I believe it can bring a new energy to the market. It is usually in the toughest circumstances that we learn the best lessons.
Additionally, I remain optimistic because the phone has kept ringing and deals are coming together. Traditionally November usually marks the beginning of the slowest period in real estate. Fortunately, that gives us time to reload and get ready for Valentines Day when the real estate market begins another busy season. The last time I checked, they weren't making more real estate - especially lakeshore!
Have a wonderful weekend and come on up and see us soon...Life is a Gift...Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@cheqnet.net
www.garynathan.com
www.haywardwaterfront.com
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