Life is a Gift!!
Gary Nathan &
Amanda Mavis
Woodland Dev. Realty
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
Saturday, November 08, 2008
Rise & Shine!
Growing up on the farm in North Dakota was a good thing; the hard work kept me off the streets and taught me many good lessons about living. It would bug the heck out of me when my dad would call up the stairs of our small two-story farm home at 4:30 or 5:00 am and say “get up the day is a-wastin” or “rise and shine”. I wanted to yell back “I’ll rise but don’t expect me to shine." That would have been a seriously dumb thing to do!
There were many tough times, like six foot snow banks to crawl over just to get to the barn to milk cows, hail that shredded crops or putting up hay in 100 degree heat. Sometimes there wasn’t much money but dad and my mom just kept working.
People would say “what are you going to do”? My dad’s answer typically was “I’m going to get up, put my pants on and go to work." Dad didn’t always know what the results would be but he worked through the tough times.
Times are pretty tough in our economy and in real estate. Personally, I’m not complaining about the real estate business but I know it has been very hard for many people and I do feel for them. I don’t have all the answers but I am an optimist and my mantra continues to be “rise and shine”, put my pants on and go to work.
It’s Saturday morning…..have a wonderful weekend…..I’m going to work!
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
www.garynathan.com
www.haywardwaterfront.com
There were many tough times, like six foot snow banks to crawl over just to get to the barn to milk cows, hail that shredded crops or putting up hay in 100 degree heat. Sometimes there wasn’t much money but dad and my mom just kept working.
People would say “what are you going to do”? My dad’s answer typically was “I’m going to get up, put my pants on and go to work." Dad didn’t always know what the results would be but he worked through the tough times.
Times are pretty tough in our economy and in real estate. Personally, I’m not complaining about the real estate business but I know it has been very hard for many people and I do feel for them. I don’t have all the answers but I am an optimist and my mantra continues to be “rise and shine”, put my pants on and go to work.
It’s Saturday morning…..have a wonderful weekend…..I’m going to work!
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
www.garynathan.com
www.haywardwaterfront.com
Friday, October 31, 2008
Bailout
Greetings from sunny and warm Hayward!
Many people ask what kind of an affect the Emergency Economic Stabilization Act will have going forward as it relates to real estate. It certainly will affect buyers and sellers and overall consumer confidence; freeing up cash and credit is critical as well as working through more of the mortgage mess.
For the most part, I don’t see any immediate results; this is the kind of plan that will take several months before we see results but I believe the outcome will be positive. Add to the soft real estate market, the election and the financial crisis around the globe and one can feel like a deer in head lights.
The upside is that U.S. home sales were up last month, though median price was down and U.S. inventory of homes moved much lower. In addition, home mortgage rates are in great shape and local banks in particular are eager to loan to credit-worthy buyers. Locally we still have a good inventory of homes which is good for buyers.
Amidst all this turmoil folks still are shopping for that “up north retreat” and the opportunity to build family memories. Personally, I believe the real estate debacle got us here and will lead us out again as has been the case historically. The U.S. is not shrinking, nor are we in Sawyer County, so housing will continue to be a need for primary home owners as well as a “want” when it comes to secondary home owners.
If we can weather what went on in 2008, I am confident we can deal with the bailout plan and make 2009 another success.
Come on up and enjoy our beautiful north woods, fresh air and lakes…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/
Many people ask what kind of an affect the Emergency Economic Stabilization Act will have going forward as it relates to real estate. It certainly will affect buyers and sellers and overall consumer confidence; freeing up cash and credit is critical as well as working through more of the mortgage mess.
For the most part, I don’t see any immediate results; this is the kind of plan that will take several months before we see results but I believe the outcome will be positive. Add to the soft real estate market, the election and the financial crisis around the globe and one can feel like a deer in head lights.
The upside is that U.S. home sales were up last month, though median price was down and U.S. inventory of homes moved much lower. In addition, home mortgage rates are in great shape and local banks in particular are eager to loan to credit-worthy buyers. Locally we still have a good inventory of homes which is good for buyers.
Amidst all this turmoil folks still are shopping for that “up north retreat” and the opportunity to build family memories. Personally, I believe the real estate debacle got us here and will lead us out again as has been the case historically. The U.S. is not shrinking, nor are we in Sawyer County, so housing will continue to be a need for primary home owners as well as a “want” when it comes to secondary home owners.
If we can weather what went on in 2008, I am confident we can deal with the bailout plan and make 2009 another success.
Come on up and enjoy our beautiful north woods, fresh air and lakes…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, October 24, 2008
Stork Report
While all the world is in a tizzy over the economy and our nation is stumbling through stock market mania, a nasty election process, job lay-offs and more.....I have some very uplifting news.
Amanda, my personal associate, and her husband, Jeremy are the proud new parents of "Macie Lynn" who was born into this world on Wednesday at 11:55 am. She is healthy and is 6 lbs. 6 oz. and has dark hair and eyes. Fortunately, she is beautiful like her mother and has her father's quiet disposition. Yes, Macie's parents are proud and so are we!
So in light of all the bad stuff that is going on, we give thanks to the Lord for all that is good and especially for family and friends.
Despite the doom and gloom we continue to answer the phones, show and sell properties and are thankful we live in Hayward, WI. This kind of economic turmoil tends to favor real estate investment so we are hopeful, remain optimistic and look forward to the challenges in 2009.
Normally, I close with Life Is Good....Enjoy....but I think it is time to coin a new phrase....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/
Amanda, my personal associate, and her husband, Jeremy are the proud new parents of "Macie Lynn" who was born into this world on Wednesday at 11:55 am. She is healthy and is 6 lbs. 6 oz. and has dark hair and eyes. Fortunately, she is beautiful like her mother and has her father's quiet disposition. Yes, Macie's parents are proud and so are we!
So in light of all the bad stuff that is going on, we give thanks to the Lord for all that is good and especially for family and friends.
Despite the doom and gloom we continue to answer the phones, show and sell properties and are thankful we live in Hayward, WI. This kind of economic turmoil tends to favor real estate investment so we are hopeful, remain optimistic and look forward to the challenges in 2009.
Normally, I close with Life Is Good....Enjoy....but I think it is time to coin a new phrase....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/
Friday, October 03, 2008
Current Sales Statistics!
Greetings!
It's a beautiful, sunny and crisp morning in northern Wisconsin and the colors are terrific; we had a pretty hard frost in town last night.
Several folks have asked how things are going in our market so Chris (my colleague in the office) provided some quick “lake home” statistics.
- Sawyer County has had 122 lake home sales (condos and single family) over the past 12 months (10/2/07 – 10/2/08).
- The average sale price was $336,884 (93% of list price).
- The previous 12 months (10/2/06 – 10/2/07) we had 151 sales with an average sale price of $328,262 (94% of list).
- The number of units sold is down 19% and the average price is up 2.6% although the % of sale price/list price went down by a point.
This information is according to the local Multiple Listing Service so it provides pretty good data for properties that are listed on the MLS. Of course, there are sales occurring that aren't. The positive side of me sees this news from the perspective that average price and sale price to list price is holding pretty steady. In spite of all the bad news, this has been a very good year for many of us!
This weekend is Cranberry Festival in Stone Lake and Apple Fest in Bayfield so come on up and enjoy the fall colors and fun.
Life is Good…..Enjoy!
Gary A. Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad Street, Hayward, WI 54843
715-699-4040 Cell
715-634-2110 Office
715-634-2884 Fax
nathan@cheqnet.net
www.garynathan.com
www.haywardwaterfront.com
It's a beautiful, sunny and crisp morning in northern Wisconsin and the colors are terrific; we had a pretty hard frost in town last night.
Several folks have asked how things are going in our market so Chris (my colleague in the office) provided some quick “lake home” statistics.
- Sawyer County has had 122 lake home sales (condos and single family) over the past 12 months (10/2/07 – 10/2/08).
- The average sale price was $336,884 (93% of list price).
- The previous 12 months (10/2/06 – 10/2/07) we had 151 sales with an average sale price of $328,262 (94% of list).
- The number of units sold is down 19% and the average price is up 2.6% although the % of sale price/list price went down by a point.
This information is according to the local Multiple Listing Service so it provides pretty good data for properties that are listed on the MLS. Of course, there are sales occurring that aren't. The positive side of me sees this news from the perspective that average price and sale price to list price is holding pretty steady. In spite of all the bad news, this has been a very good year for many of us!
This weekend is Cranberry Festival in Stone Lake and Apple Fest in Bayfield so come on up and enjoy the fall colors and fun.
Life is Good…..Enjoy!
Gary A. Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad Street, Hayward, WI 54843
715-699-4040 Cell
715-634-2110 Office
715-634-2884 Fax
nathan@cheqnet.net
www.garynathan.com
www.haywardwaterfront.com
Thursday, September 11, 2008
I WANT TO SELL MY REAL ESTATE NOW!!
Times are tough but real estate is still selling; yes there are buyers out there but they are much pickier and somewhat spooked with what is going on in the housing market.
What do you need to do to help sell your property? I have some tips that may help you achieve success sooner than later.
1. Be realistic and price your property right the first time, this is a challenging market period! Sure we all want to get top dollar and not leave any money on the table but not selling early into the process means higher holding costs including real estate taxes, insurance, utilities, interest and upkeep. From my experience I recommend that you secure both a market analysis from your realtor and an independent third-party appraisal. Price the property no higher than 5% above the top value or no higher than 10% above the two blended values. Listen to the experts.
2. The first Offer is typically the best; work with that Buyer to get the deal done and don’t take too much time in replying to the Offer. Keep it simple and don’t muddy the waters with little details like who gets the microwave, the bench in the front hall or who pays what for the safe water test. Personal property pettiness often kills deals, don’t lose track of the BIG PICTURE.
3. Stage the property right from the get go; clean up your property whether it is a vacant lot or your million-dollar-home. Get rid of the clutter inside and out and update even if it means trashing your velvet curtains and changing the orange countertop to granite. I have always believed it takes spending some money to make money and getting your real estate ready is no different than running a business. Paint the front door, trade out the vinyl for tile or wood flooring and please get rid of the PETS….well at least during the showing! Clean it up, Spiff it up and give it that “Pottery Barn Look”.
4. Understand Buyers; most don’t want a project. SEE THE PARAGRAPH ABOVE. Most Buyers want to walk in, throw a log on the fire and put their feet up. Believe me there are not a lot of do-it-yourselfers out there and they expect your house to look like the “HGTV” finished house not “This Old House” project. Take away all the negatives you can; if a Buyer likes what he or she sees it will cut down on the negotiating.
There are no guarantees but I can tell you that if you don’t pay attention to the above you had best put yourself in “patient” mode and be ready to adjust your price down as your property gets stale from market exposure.
This weekend we are expecting 2500 riders in the Chequamegon Fat Tire Race. Next Saturday is the Birkie Trail Run and Trek (we are a sponsor) and don’t forget about Fall Fest next weekend as well! Plus the Hayward Library Fall Century Bike Tour is on Sunday, the 21st.
Life is Good….Enjoy!
Gary Nathan
Woodland Dev. Realty
What do you need to do to help sell your property? I have some tips that may help you achieve success sooner than later.
1. Be realistic and price your property right the first time, this is a challenging market period! Sure we all want to get top dollar and not leave any money on the table but not selling early into the process means higher holding costs including real estate taxes, insurance, utilities, interest and upkeep. From my experience I recommend that you secure both a market analysis from your realtor and an independent third-party appraisal. Price the property no higher than 5% above the top value or no higher than 10% above the two blended values. Listen to the experts.
2. The first Offer is typically the best; work with that Buyer to get the deal done and don’t take too much time in replying to the Offer. Keep it simple and don’t muddy the waters with little details like who gets the microwave, the bench in the front hall or who pays what for the safe water test. Personal property pettiness often kills deals, don’t lose track of the BIG PICTURE.
3. Stage the property right from the get go; clean up your property whether it is a vacant lot or your million-dollar-home. Get rid of the clutter inside and out and update even if it means trashing your velvet curtains and changing the orange countertop to granite. I have always believed it takes spending some money to make money and getting your real estate ready is no different than running a business. Paint the front door, trade out the vinyl for tile or wood flooring and please get rid of the PETS….well at least during the showing! Clean it up, Spiff it up and give it that “Pottery Barn Look”.
4. Understand Buyers; most don’t want a project. SEE THE PARAGRAPH ABOVE. Most Buyers want to walk in, throw a log on the fire and put their feet up. Believe me there are not a lot of do-it-yourselfers out there and they expect your house to look like the “HGTV” finished house not “This Old House” project. Take away all the negatives you can; if a Buyer likes what he or she sees it will cut down on the negotiating.
There are no guarantees but I can tell you that if you don’t pay attention to the above you had best put yourself in “patient” mode and be ready to adjust your price down as your property gets stale from market exposure.
This weekend we are expecting 2500 riders in the Chequamegon Fat Tire Race. Next Saturday is the Birkie Trail Run and Trek (we are a sponsor) and don’t forget about Fall Fest next weekend as well! Plus the Hayward Library Fall Century Bike Tour is on Sunday, the 21st.
Life is Good….Enjoy!
Gary Nathan
Woodland Dev. Realty
Friday, September 05, 2008
Information Overload? We're here to help!
Buyers and Sellers of real estate certainly have great opportunities and advantages in buying and selling real estate as compared to just a few years ago. The amount of information via the Internet on homes and other properties is plentiful, in fact seemingly infinite. The information is free and easy to access but searching through all of it can be pretty time consuming.
My work is much easier from the perspective of instant access but the amount of information is "overload". Buyers tend to agree that sifting through all the property data available on the Web can be quite daunting. Despite all the properties and information available there is much that you can't know or find out when surfing the sites. For example, you rarely know what the neighborhood is like, or the house on either side or you, or the "real" elevation of the lake lot. And how about the condition of the lakebed at the shoreline, mucky, sandy or what; until you take your shoes off and get your toes wet you really don't know. And "those realtors" are really good at taking just the "right angle" when it comes to pictures.
The Web is wonderful but until you actually walk on the property and see it, all the data in the world usually does not do a property justice. That's why real estate is such fun because we get the opportunity to help buyers find out "the real details" in their search for properties. In the future there will be more technology that will enable consumers to access even more data. Perhaps virtual tours will become "virtual experiences" and you will actually be able to feel the sand between your toes; now that would be progress!
So, happy wandering on the web. If you'd like some direction in your search, give us a call & we'll help you in any way we can!
This weekend is the Chippewa Flowage Musky Hunt and next weekend is the Chequamegon Fat Tire Festival so come on up and enjoy.
The weather today is sunny, dry, warm and wonderful.....Life is Good.....Enjoy!
Gary A. Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad Street, Hayward, WI 54843
715-699-4040
Cell715-634-2110
FAX 715-634-2884
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
http://www.haywardwaterfront.com/
Friday, August 29, 2008
Foreclosures & Ribs!
My work in real estate has been a real joy. For the most part, the sale of each property results in happy sellers and buyers; a win-win scenario!
But more recently I have had the difficult task of helping some homeowners through near foreclosure of their homes. These are not folks who were buying on spec to churn prperty or making poor decisions. For various reasons, they found themselves in a predicament none of us would choose to be in. It was a mind-expanding experience for me and I consider it a privilege to have been involved, albeit not what any of us would wish for.
Luckily we were able to work through the issues and avoid the loss of their homes. Working with owners whose loan is delinquent and facing foreclosure and whose loan service is nowhere to be found is daunting. Those involved easily feel helpless and hopeless.
But there is help through a coalition called HOPE NOW ALLIANCE. The Wisconsin Housing and Economic Development Authority (WHEDA) has partnered with 19 housing counseling agency locations along with lenders, investors, trade associations and others to help track down the loan servicer and explore options for the homeowner forcing foreclosure to hopefully find a solution.
If you know someone that needs help, please encourage them to contact their local non-profit counseling agency at: http://www.wisconsinforeclosureresource.com/cc.asp
On a more positive note: Don't forget that this weekend is the Rib & Brew Fest in Hayward. The weather forecast is: "another Chamber of Commerce weekend"! Come on up and see us!
Life Is Good...Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
715-699- 4040
nathan@cheqnet.net
http://www.garynathan.com
http://www.haywardwaterfront.com
But more recently I have had the difficult task of helping some homeowners through near foreclosure of their homes. These are not folks who were buying on spec to churn prperty or making poor decisions. For various reasons, they found themselves in a predicament none of us would choose to be in. It was a mind-expanding experience for me and I consider it a privilege to have been involved, albeit not what any of us would wish for.
Luckily we were able to work through the issues and avoid the loss of their homes. Working with owners whose loan is delinquent and facing foreclosure and whose loan service is nowhere to be found is daunting. Those involved easily feel helpless and hopeless.
But there is help through a coalition called HOPE NOW ALLIANCE. The Wisconsin Housing and Economic Development Authority (WHEDA) has partnered with 19 housing counseling agency locations along with lenders, investors, trade associations and others to help track down the loan servicer and explore options for the homeowner forcing foreclosure to hopefully find a solution.
If you know someone that needs help, please encourage them to contact their local non-profit counseling agency at: http://www.wisconsinforeclosureresource.com/cc.asp
On a more positive note: Don't forget that this weekend is the Rib & Brew Fest in Hayward. The weather forecast is: "another Chamber of Commerce weekend"! Come on up and see us!
Life Is Good...Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
715-699- 4040
nathan@cheqnet.net
http://www.garynathan.com
http://www.haywardwaterfront.com
Friday, August 22, 2008
Lake Turnover?
Not long ago someone asked me about Lake Turnover and quite honestly I did not have a good scientific answer for them. However there was a very good article in our Grindstone Lake Association newsletter which explains this affect in language that even I can understand. I have taken the liberty to paraphrase some of what was written.
Essentially “Turnover” is the term used to describe the mixing of the contents of the entire lake.
Reminds me of my stomach after dinner last night! Not long after ice-out, in early spring, winds create the wave action needed for considerable turbulence all the way to the bottom of the lake. At that time of year the water temperature and the water density is fairly uniform throughout the lake making it easier for the mixing to happen.
As springtime progresses and the spring winds decrease, (well, most of the time!) the sun’s radiation eventually causes the surface water of the lake to become significantly warmer (and less dense) as compared to the deeper water. The point where the temperature difference between the warmer and colder water is greatest is called the “thermocline”. Now there’s a word to put into your everyday vocabulary!
In many lakes, the thermocline is between 10 to 20 feet below the surface of the lake. Because of the density difference between cold and warm water, the thermocline acts like a barrier to prevent further mixing of the lake’s water.
As we approach fall the surface water cools to the point where its temperature and density once again is similar to the waters below resulting in the same mixing process that occurred in the spring. And yes we are beginning to see signs of fall and cooling, sunsets are much earlier!
Water is most dense at around 39 degrees Fahrenheit; because of this the lake water in the winter is actually warmer at the bottom of the lake as compared to the water immediately below the surface of the ice which is just above 32 degrees Fahrenheit. Essentially the warmer water of the lake shifts to the bottom in the winter and to the top in the summer. And there you have it!
Local News: Don’t forget that the Seeley Lions Club is hosting the Pre-Fat off road bicycle race this weekend and Rib and Brew Fest is next weekend. Come up and take in the fun!
Life is good….Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Essentially “Turnover” is the term used to describe the mixing of the contents of the entire lake.
Reminds me of my stomach after dinner last night! Not long after ice-out, in early spring, winds create the wave action needed for considerable turbulence all the way to the bottom of the lake. At that time of year the water temperature and the water density is fairly uniform throughout the lake making it easier for the mixing to happen.
As springtime progresses and the spring winds decrease, (well, most of the time!) the sun’s radiation eventually causes the surface water of the lake to become significantly warmer (and less dense) as compared to the deeper water. The point where the temperature difference between the warmer and colder water is greatest is called the “thermocline”. Now there’s a word to put into your everyday vocabulary!
In many lakes, the thermocline is between 10 to 20 feet below the surface of the lake. Because of the density difference between cold and warm water, the thermocline acts like a barrier to prevent further mixing of the lake’s water.
As we approach fall the surface water cools to the point where its temperature and density once again is similar to the waters below resulting in the same mixing process that occurred in the spring. And yes we are beginning to see signs of fall and cooling, sunsets are much earlier!
Water is most dense at around 39 degrees Fahrenheit; because of this the lake water in the winter is actually warmer at the bottom of the lake as compared to the water immediately below the surface of the ice which is just above 32 degrees Fahrenheit. Essentially the warmer water of the lake shifts to the bottom in the winter and to the top in the summer. And there you have it!
Local News: Don’t forget that the Seeley Lions Club is hosting the Pre-Fat off road bicycle race this weekend and Rib and Brew Fest is next weekend. Come up and take in the fun!
Life is good….Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Thursday, August 07, 2008
Market Timing
RISMedia, a real estate news source, recently reported that at the top of the most frequently asked questions list is, “How will we know when the market has bottomed out and we should buy a home”? We have experienced that question many times and I concur it is on the front of most buyer brain lobes. Buyers want to buy right at the bottom; who wouldn’t?
The answer does not appear to be all that difficult and I agree with the report in that there are two major factors that one should consider and watch. When you see an increase in listed sales and sold prices and a decline in inventory you can be reasonably sure we have hit bottom, right?
Nationally it appears we have started to see a decline in listing volume; it is however much more difficult to gauge the sold price data. Sale prices will be affected by some of the discounted foreclosure sales; hence lower average prices.
Locally we have been far less affected by foreclosures but inventory remains high compared to three years ago. Buyers still have, in my opinion, a great deal of opportunity because of listed volume and interest rates that continue to be historically low. That all could change if rates increase and inventories shrink.
Personally I was never any good at stock market timing, too many variables! Timing the real estate market isn’t that easy. It's made up of more than inventories, sales prices and sales volume. The overall economy and other factors such as buyer confidence, location, population growth, job growth and more, has an affect on the real estate market. Oh, and don’t forget about the fact that this is an election year. What’s your opinion; I’d like to hear from you?
On the home front - we've had just outstanding summer weather. Each morning when I leave the lake to go to work I wonder why? Go back to the beginning of the above paragraph….I never was good at market timing, hence I work. Thank God I am able!
Life is Good…..Enjoy!
Gary Nathan
cell 715.699.4040
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
The answer does not appear to be all that difficult and I agree with the report in that there are two major factors that one should consider and watch. When you see an increase in listed sales and sold prices and a decline in inventory you can be reasonably sure we have hit bottom, right?
Nationally it appears we have started to see a decline in listing volume; it is however much more difficult to gauge the sold price data. Sale prices will be affected by some of the discounted foreclosure sales; hence lower average prices.
Locally we have been far less affected by foreclosures but inventory remains high compared to three years ago. Buyers still have, in my opinion, a great deal of opportunity because of listed volume and interest rates that continue to be historically low. That all could change if rates increase and inventories shrink.
Personally I was never any good at stock market timing, too many variables! Timing the real estate market isn’t that easy. It's made up of more than inventories, sales prices and sales volume. The overall economy and other factors such as buyer confidence, location, population growth, job growth and more, has an affect on the real estate market. Oh, and don’t forget about the fact that this is an election year. What’s your opinion; I’d like to hear from you?
On the home front - we've had just outstanding summer weather. Each morning when I leave the lake to go to work I wonder why? Go back to the beginning of the above paragraph….I never was good at market timing, hence I work. Thank God I am able!
Life is Good…..Enjoy!
Gary Nathan
cell 715.699.4040
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
Friday, August 01, 2008
Housing Stimulus
Greetings from sunny, warm Hayward!
President Bush just signed into law the Housing and Economic Recovery Act of 2008. This is a major action that certainly affects consumers, REALTORS®, and our nation. As a result homebuyers will soon have access to more affordable financing, and first-time homebuyers (those who have not owned a home for three years) will receive a tax-credit to help them enter the market. Some may say "too little too late" but I believe we needed the action.
H.R. 3221, the “Housing and Economic Recovery Act of 2008 signed the bill on July 30, 2008. The bill includes the following provisions:
- GSE Reform – including a strong independent regulator, and permanent conforming loan limits up to the greater of $417,000 or 115% local area median home price, capped at $625,500.
- FHA Reform – including permanent FHA loan limits at the greater of $271,050 or 115% of local area median home price, capped at $625,500; streamlined processing for FHA condos; reforms to the HECM program, and reforms to the FHA manufactured housing program.
- Homebuyer Tax Credit - a $7500 tax credit that would be would be available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest-free loan).
- FHA foreclosure rescue – development of a refinance program for homebuyers with problematic subprime loans.
- Seller-funded downpayment assistance programs VA loan limits – temporarily increases the VA home loan guarantee loan limits to the same level as the Economic Stimulus limits through December 31, 2008.
- Risk-based pricing – puts a moratorium on FHA using risk-based pricing for one year.
- GSE Stabilization – includes language proposed by the Treasury Department to authorize Treasury to make loans to and buy stock from the GSEs to make sure that Freddie Mac and Fannie Mae could not fail.
- Mortgage Revenue Bond Authority – authorizes $10 billion in mortgage revenue bonds for refinancing subprime mortgages.
- National Affordable Housing Trust Fund – Develops a Trust Fund funded by a percentage of profits from the GSEs.
- CDBG Funding – Provides $4 billion in neighborhood revitalization funds for communities to purchase foreclosed homes.
- LIHTC – Modernizes the Low Income Housing Tax Credit program to make it more efficient.
Loan Originator Requirements – Strengthens the existing state-run nationwide mortgage originator licensing and registration system and requires a parallel HUD system for states that fail to participate.
For more information, visit http://www.realtor.org/governmentaffairs.
The weather has been superb and Sawyer County has been buzzing with tourists and second home owners. Come on up and see us! Enjoy.....Life is Good!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
President Bush just signed into law the Housing and Economic Recovery Act of 2008. This is a major action that certainly affects consumers, REALTORS®, and our nation. As a result homebuyers will soon have access to more affordable financing, and first-time homebuyers (those who have not owned a home for three years) will receive a tax-credit to help them enter the market. Some may say "too little too late" but I believe we needed the action.
H.R. 3221, the “Housing and Economic Recovery Act of 2008 signed the bill on July 30, 2008. The bill includes the following provisions:
- GSE Reform – including a strong independent regulator, and permanent conforming loan limits up to the greater of $417,000 or 115% local area median home price, capped at $625,500.
- FHA Reform – including permanent FHA loan limits at the greater of $271,050 or 115% of local area median home price, capped at $625,500; streamlined processing for FHA condos; reforms to the HECM program, and reforms to the FHA manufactured housing program.
- Homebuyer Tax Credit - a $7500 tax credit that would be would be available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest-free loan).
- FHA foreclosure rescue – development of a refinance program for homebuyers with problematic subprime loans.
- Seller-funded downpayment assistance programs VA loan limits – temporarily increases the VA home loan guarantee loan limits to the same level as the Economic Stimulus limits through December 31, 2008.
- Risk-based pricing – puts a moratorium on FHA using risk-based pricing for one year.
- GSE Stabilization – includes language proposed by the Treasury Department to authorize Treasury to make loans to and buy stock from the GSEs to make sure that Freddie Mac and Fannie Mae could not fail.
- Mortgage Revenue Bond Authority – authorizes $10 billion in mortgage revenue bonds for refinancing subprime mortgages.
- National Affordable Housing Trust Fund – Develops a Trust Fund funded by a percentage of profits from the GSEs.
- CDBG Funding – Provides $4 billion in neighborhood revitalization funds for communities to purchase foreclosed homes.
- LIHTC – Modernizes the Low Income Housing Tax Credit program to make it more efficient.
Loan Originator Requirements – Strengthens the existing state-run nationwide mortgage originator licensing and registration system and requires a parallel HUD system for states that fail to participate.
For more information, visit http://www.realtor.org/governmentaffairs.
The weather has been superb and Sawyer County has been buzzing with tourists and second home owners. Come on up and see us! Enjoy.....Life is Good!
Gary Nathan
Amanda Mavis
Woodland Dev & Realty
Hayward, WI
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Wednesday, June 25, 2008
Sunset on Grindstone Lake!
In my last Blog I wrote that this has been a very busy quarter. Well, it has continued and for that we are most thankful.To take a break, weather permitting, we try to get out on the lake. This past week Shari & I had the pleasure of watching a spectacular sunset from the middle of the lake. Sunsets along with wonderful sunrises are special times for us; it’s what so many people are looking for when they search for their “escape cabin” in the Hayward area. We feel truly blessed to have the opportunity to work and live where we can enjoy such beauty. We wish the same for you!
Come on up and enjoy all that the area has to offer. If you need an events calendar just let me know and I will email, mail or fax you a copy. Life is Good…..Enjoy!
Friday, June 06, 2008
Blessing and Curse
The past few weeks have been both a blessing and a curse; mostly a blessing. Forgive me for not blogging for two weeks; actually that is probably a blessing. It has been the busiest month I can remember in my years of real estate.
Now before you quit reading I promise to keep this short; it's Friday and I want to actually leave by 5:00 pm for the first day in I don't know how long...that would be a curse.
There is a bunch of action; not just people looking but people buying....yes buying despite all the stuff you hear otherwise. I'm not one to boast but I must tell you that this past quarter will probably be a record for us; that would be a blessing.
For those of you who are kind enough to list your property with us and have not received an Offer to Purchase this week I sincerely apologize. BUT, keep the faith because Hayward real estate continues to sell and why not? This is the greatest place in the world to live and we invite you to come and see us....soon!
More blessings than curses! Life is Good....Enjoy!
My boat is in and the lake beckons.
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
Now before you quit reading I promise to keep this short; it's Friday and I want to actually leave by 5:00 pm for the first day in I don't know how long...that would be a curse.
There is a bunch of action; not just people looking but people buying....yes buying despite all the stuff you hear otherwise. I'm not one to boast but I must tell you that this past quarter will probably be a record for us; that would be a blessing.
For those of you who are kind enough to list your property with us and have not received an Offer to Purchase this week I sincerely apologize. BUT, keep the faith because Hayward real estate continues to sell and why not? This is the greatest place in the world to live and we invite you to come and see us....soon!
More blessings than curses! Life is Good....Enjoy!
My boat is in and the lake beckons.
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
Thursday, May 15, 2008
The Barn...
This is a great story we found circulating on the Internet.
A recently retired New York man wanted to use his retirement funds wisely, decided to buy a home and a few acres in Portugal . The modest farmhouse had been vacant for 15 years; the owner and wife both had died, and there were no heirs. The estate was being sold to pay back taxes.
There had been several lookers, but the large barn had steel doors, and they had been welded shut. No one wanted to go to the extra expense to see what was in the barn, and it wasn't complimentary to the property anyway... so, no one made an offer on the place.
The New York gentleman bought it as is, paying just over half of the property's worth; moved in, and set about to access the barn... curiosity was killing him. So, he and his wife bought a generator and a couple of grinders... and cut thru the welds. What was in the barn...?
A recently retired New York man wanted to use his retirement funds wisely, decided to buy a home and a few acres in Portugal . The modest farmhouse had been vacant for 15 years; the owner and wife both had died, and there were no heirs. The estate was being sold to pay back taxes.
There had been several lookers, but the large barn had steel doors, and they had been welded shut. No one wanted to go to the extra expense to see what was in the barn, and it wasn't complimentary to the property anyway... so, no one made an offer on the place.
The New York gentleman bought it as is, paying just over half of the property's worth; moved in, and set about to access the barn... curiosity was killing him. So, he and his wife bought a generator and a couple of grinders... and cut thru the welds. What was in the barn...?
The doors were welded shut, but a grinder took care of that.
A warehouse full of vintage high performance cars!!!
Aston Martin, Opel GT, Lotus Elan FHC, Lotus Super Seven Series IV, Lotus Elan DHC, Porsche 356, Austin Healey Sprite MkII, Volvo PV 544, Ford Y, Giulietta Sprint, Giulia Sprint Speciale (SS), Nash Metropolitan, Alfa Giulietta, Lotus Europa, another Lotus Elan FHC, Matra Djet, Lancia Flaminia Coupé, BMW V8, Formula racers, Chryslers, Mercedes, Austin A30, Formula racers, Chryslers, Mercedes, Austin A30… and the list goes on.Amazing…
Total value of all vehicles… over 35 Million!
The man and his wife had full title to the complete lot of vehicles. They're having a great retirement!
So you see real estate really is a good investment....sometimes a "great" investment.
Life is Good. Enjoy!
Gary Nathan & Amanda Mavis
Friday, May 09, 2008
Remodeling for Resale
Many of our clients ask what the return will be on certain remodeling projects. There is some good information from a Value Report published by the National Association of Realtors. You need to understand what makes a good home investment, whether you are buying, selling or remodeling.
One of the best returns for your money is bathroom and kitchen remodeling projects. “Many homeowners who complete mid-range bathroom remodels can expect to make money; the cost on a national average for this project is $10,499, and the return is $10,727, or 102.2 percent. On average, major mid-range kitchen remodels cost $43,862 and return $39,920 or 91 percent of the costs to remodel”. Master suites don’t fair as well; an approximate return of 80.1 percent of the remodeling expense.” Personally, I'd put the money in the kitchen, that's where most of us spend a great deal of time entertaining anyway!
In the Midwest, however, the same kitchen and basement projects return only 85 and 73 percent, respectively. Midwest buyers appreciate homes with updated siding; mid-range and upscale siding replacements return 96 and 98 percent of the project costs, respectively. Siding replacement projects fared well at resale in all four regions, likely because new siding is a relatively inexpensive way to update and refresh a home's curb appeal.”
In the end, you need to consider your own needs and desires as well as those of the home's future owner. Ultimately, the best reason for a remodel is so that you can enjoy it!
If you wish to read the full report go to www.REALTOR.org/realtormag.
It is absolutely beautiful today & I'm heading out to show “lake property”. Have a great weekend and Enjoy…Life is Good!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
One of the best returns for your money is bathroom and kitchen remodeling projects. “Many homeowners who complete mid-range bathroom remodels can expect to make money; the cost on a national average for this project is $10,499, and the return is $10,727, or 102.2 percent. On average, major mid-range kitchen remodels cost $43,862 and return $39,920 or 91 percent of the costs to remodel”. Master suites don’t fair as well; an approximate return of 80.1 percent of the remodeling expense.” Personally, I'd put the money in the kitchen, that's where most of us spend a great deal of time entertaining anyway!
In the Midwest, however, the same kitchen and basement projects return only 85 and 73 percent, respectively. Midwest buyers appreciate homes with updated siding; mid-range and upscale siding replacements return 96 and 98 percent of the project costs, respectively. Siding replacement projects fared well at resale in all four regions, likely because new siding is a relatively inexpensive way to update and refresh a home's curb appeal.”
In the end, you need to consider your own needs and desires as well as those of the home's future owner. Ultimately, the best reason for a remodel is so that you can enjoy it!
If you wish to read the full report go to www.REALTOR.org/realtormag.
It is absolutely beautiful today & I'm heading out to show “lake property”. Have a great weekend and Enjoy…Life is Good!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Friday, May 02, 2008
Quiet Lakes
Sawyer County has an abundance of lakes and there is some neat history and information on the "Quiet Lakes" which are Lost Land Lake, Teal Lake and Ghost Lake; just 15 miles northeast of Hayward on Hwy 77.
According to the Quiet Lakes web site Lost Land Lake, was missing from early logger maps. Teal Lake was originally called Tea Lake. Did you know that Ghost Lake's name was derived from an over-served logger who thought the wild wandering flowage disappeared in a ghostly fog.? The drive to the Quiet Lakes literally "quiets" the mind and the tour throughout this lake region in the heart of the Chequamegon National Forest is one of the most peaceful settings you will find.
In 1962 a speed limit of 10 mph was enacted prohibiting water skiing and jet skiing for that matter. Zoning requires 200' of lake shore per home rather than the usual 100' on other prime lakes. We can thank the folks who lived there and now populate the lakes for actively protecting this unspoiled environment.
Chris and Cindi from our office live on Teal Lake; they are an easy touch for a ride on their pontoon!
Want to learn more? Go to www.quietlakes.com; it's worth the peruse.
The ice is out on many lakes so come on up! Good luck to all you opening day fisherman....Life Is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
715-634-2110
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
According to the Quiet Lakes web site Lost Land Lake, was missing from early logger maps. Teal Lake was originally called Tea Lake. Did you know that Ghost Lake's name was derived from an over-served logger who thought the wild wandering flowage disappeared in a ghostly fog.? The drive to the Quiet Lakes literally "quiets" the mind and the tour throughout this lake region in the heart of the Chequamegon National Forest is one of the most peaceful settings you will find.
In 1962 a speed limit of 10 mph was enacted prohibiting water skiing and jet skiing for that matter. Zoning requires 200' of lake shore per home rather than the usual 100' on other prime lakes. We can thank the folks who lived there and now populate the lakes for actively protecting this unspoiled environment.
Chris and Cindi from our office live on Teal Lake; they are an easy touch for a ride on their pontoon!
Want to learn more? Go to www.quietlakes.com; it's worth the peruse.
The ice is out on many lakes so come on up! Good luck to all you opening day fisherman....Life Is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
715-634-2110
nathan@garynathan.com
www.garynathan.com
www.haywardwaterfront.com
Friday, April 25, 2008
What's Hot, What's Not
Buyers are poled each year by several different groups to see what they want when it comes to buying a home. So whether you are a buyer or a seller please read on.
Buyers are becoming much more aware of how a home impacts the earth. So smaller more energy efficient homes are very appealing to savvy buyers.
Appliances that are concealed with a wood-print cover or behind hinged doors. Storage areas in the garage that have the cabinet look with pull out racks or shelves. Whirlpools are out and freestanding tubs or "bath thrones" are the new "must-haves" as a bathroom centerpiece. Speaking of bathrooms, the latest trend is bathroom suites that include flat-screen TVs, a mini fridge and cappuccino maker. Who needs the rest of the home?
Outdoor living is huge, especially here in the north woods. Massive outdoor fireplaces, fire-ring patio areas, outdoor kitchens and even under-patio heating is particularly appealing to buyers.
Have a pet and do you like to keep it clean? Pet bathtubs and showers in the mud room or garage are a big attraction for pet owners.
What's out? High ceilings in small rooms - waste of space. Tiny balconies and lofts that accommodate one chair and a lamp. Small living rooms that look more like a hallway off the kitchen than a space in which to entertain. And finally, one sink in the master bath suite is an absolute NO! No!. Trust me on this last one; when 70% of the time the decision is being made by the "better-looking-sex" you had better hope the house you are showing has two sinks in the master suite.
Have a great weekend....it's raining here which will quicken the ice melt and oh it is so good to see green grass!
Life is good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
715-699-4040
nathan@garynathan .com
www.garynathan.com
www.haywardwaterfront.com
Buyers are becoming much more aware of how a home impacts the earth. So smaller more energy efficient homes are very appealing to savvy buyers.
Appliances that are concealed with a wood-print cover or behind hinged doors. Storage areas in the garage that have the cabinet look with pull out racks or shelves. Whirlpools are out and freestanding tubs or "bath thrones" are the new "must-haves" as a bathroom centerpiece. Speaking of bathrooms, the latest trend is bathroom suites that include flat-screen TVs, a mini fridge and cappuccino maker. Who needs the rest of the home?
Outdoor living is huge, especially here in the north woods. Massive outdoor fireplaces, fire-ring patio areas, outdoor kitchens and even under-patio heating is particularly appealing to buyers.
Have a pet and do you like to keep it clean? Pet bathtubs and showers in the mud room or garage are a big attraction for pet owners.
What's out? High ceilings in small rooms - waste of space. Tiny balconies and lofts that accommodate one chair and a lamp. Small living rooms that look more like a hallway off the kitchen than a space in which to entertain. And finally, one sink in the master bath suite is an absolute NO! No!. Trust me on this last one; when 70% of the time the decision is being made by the "better-looking-sex" you had better hope the house you are showing has two sinks in the master suite.
Have a great weekend....it's raining here which will quicken the ice melt and oh it is so good to see green grass!
Life is good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
715-699-4040
nathan@garynathan .com
www.garynathan.com
www.haywardwaterfront.com
Tuesday, April 08, 2008
Housing Headline Blues
There has been a very interesting revelation regarding the negative housing data we have all seen on an almost daily basis. The next time you see any housing statistics presented, check to see if the statistics are provided by the S&P Case Shiller Index (chances are, they will be). This index surveys only 20 markets in 8 states – most of which are in California and Florida and other down markets. Conversely, the NAR (National Association of Realtors) survey spans 150 metro markets and uses median prices only. The third previously used survey, the OFHEO (Office of Federal Housing Enterprise Oversight) uses 287 local markets in its index, yet, the Case Shiller index with only 20 markets is getting most of the media coverage. Why? Most likely because negative headlines sell.
Consider the following: OFHEO data for 2007 indicates the average price in America was down 3/10ths of a percent based on data from the 287 markets mentioned above. NAR data showed a 1.4% median price decline. The 2007 data gathered from a 4th source, Realogy (the largest real estate brokerage in the world with over 300,000 agents) indicates a 1% decline for 2007. OFHEO, NAR and Realogy are all fairly close with the results of their data gathering. What did Case Shiller’s 20 market data report? A whopping 8.9% decline for the “overall” U.S. market in 2007.
How could there be such a huge disparity? A recent article from Realogy illustrates the methodology Case Shiller’s uses for measuring the New York City market. Shiller claims that New York City prices fell 5.6% in 2007. Shiller decided not to use condominium and cooperative sales in Manhattan in his data which constitute 1/3 of overall New York City sales and 99% of Manhattan sales. Manhattan based Miller Samuel Inc. tracked a 2007 price increase of 17.6% for Manhattan. Why did Shiller exclude the data that constitutes 1/3 of the New York City metropolitan area? Could part of the reason be because of his side business? Consider the following:
In a recent article by Lawrence Yun, Chief Economist for the NAR, Yun states “Dr. Shiller, a Yale Professor, has a side business in Chicago. His index is used at the Chicago Mercantile Exchange for hedging housing futures values. The more hedging of the bets that occur, the more profits go into Dr. Shiller’s bank account. And more hedging of the bets will take place if people believe there will be a crash in housing values. So, naturally he has a financial incentive to “scare” the market.” This side business may or may not be the reason Dr. Shiller uses such limited and selected data for his index. The disturbing part is that the Case Shiller index is being used by most media outlets to represent what is happening in the overall U.S. housing market.
What is the reality? Shiller claims that “Wherever you look, things look bleak” and that “We are in a historic housing bust right now”. OFHEO reports that 70% of the markets nationwide are not falling but actually rising. In Sawyer County, the last two reported quarters (Q3 and Q4, 2007) showed an increase in median price of over 14% and a 19% increase in the number of homes sold as compared to 2006 Q3 and Q4.
Reality is good thing.
Chris McGrath
Woodland Developments & Realty
715.634.2110
woodlanddevrealty.com
Consider the following: OFHEO data for 2007 indicates the average price in America was down 3/10ths of a percent based on data from the 287 markets mentioned above. NAR data showed a 1.4% median price decline. The 2007 data gathered from a 4th source, Realogy (the largest real estate brokerage in the world with over 300,000 agents) indicates a 1% decline for 2007. OFHEO, NAR and Realogy are all fairly close with the results of their data gathering. What did Case Shiller’s 20 market data report? A whopping 8.9% decline for the “overall” U.S. market in 2007.
How could there be such a huge disparity? A recent article from Realogy illustrates the methodology Case Shiller’s uses for measuring the New York City market. Shiller claims that New York City prices fell 5.6% in 2007. Shiller decided not to use condominium and cooperative sales in Manhattan in his data which constitute 1/3 of overall New York City sales and 99% of Manhattan sales. Manhattan based Miller Samuel Inc. tracked a 2007 price increase of 17.6% for Manhattan. Why did Shiller exclude the data that constitutes 1/3 of the New York City metropolitan area? Could part of the reason be because of his side business? Consider the following:
In a recent article by Lawrence Yun, Chief Economist for the NAR, Yun states “Dr. Shiller, a Yale Professor, has a side business in Chicago. His index is used at the Chicago Mercantile Exchange for hedging housing futures values. The more hedging of the bets that occur, the more profits go into Dr. Shiller’s bank account. And more hedging of the bets will take place if people believe there will be a crash in housing values. So, naturally he has a financial incentive to “scare” the market.” This side business may or may not be the reason Dr. Shiller uses such limited and selected data for his index. The disturbing part is that the Case Shiller index is being used by most media outlets to represent what is happening in the overall U.S. housing market.
What is the reality? Shiller claims that “Wherever you look, things look bleak” and that “We are in a historic housing bust right now”. OFHEO reports that 70% of the markets nationwide are not falling but actually rising. In Sawyer County, the last two reported quarters (Q3 and Q4, 2007) showed an increase in median price of over 14% and a 19% increase in the number of homes sold as compared to 2006 Q3 and Q4.
Reality is good thing.
Chris McGrath
Woodland Developments & Realty
715.634.2110
woodlanddevrealty.com
Wednesday, April 02, 2008
Pier Pleasure!
Wisconsin waterfront property owners can celebrate after new legislation to protect existing piers was signed into law; the Wisconsin REALTORS® Association (WRA) credits the Governor and bipartisan legislative leaders for passage. It passed unanimously in both houses of the legislature.
According to the WRA, Assembly Bill 297 establishes grandfathering standards for existing piers and will provide permanent protection from future regulations to approximately 99% of the existing piers. The new law exempts from new regulations (or “grandfathers”) all piers up to 8-feet wide and loading platforms or “decks” (located at the end of the pier) that are 200 square feet or less. The law also grandfathers decks between 200 and 300 square feet, as long as they are no wider than 10 feet.
“This new law is very important to waterfront property owners and will provide certainty as to which piers are legal, and which are not,” said Mike Spranger, WRA Chairman. According to Spranger, “The new law strikes a good balance between the rights of property owners and the rights of the public to use and enjoy our waterways.”
This new law was worked on by a broad coalition of key stakeholders including the Wisconsin Department of Natural Resources, Wisconsin REALTORS® Association, the Wisconsin Wildlife Federation, the Wisconsin Builders Association, and the Wisconsin Association of Lakes.
While some existing piers will not be grandfathered, the law makes the process easier and more equitable for obtaining the necessary permits to keep these piers in place. Many of the piers have been a part of the property for years and years so the new law provides a fair resolution.
We can all agree that piers certainly add value to waterfront property because it provides access to the water for boating and recreation. In addition, there is a significant emotional attachment for some property owners; it's the place where many families have spent countless hours swimming, fishing and spending time together.
From personal experience, I can tell you that naps on the end of the pier are priceless!
The sun is shining, the snow is melting and spring is here; come on up and enjoy our beautiful lakes, woods, fresh air and "grandfathered piers".......Life is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
According to the WRA, Assembly Bill 297 establishes grandfathering standards for existing piers and will provide permanent protection from future regulations to approximately 99% of the existing piers. The new law exempts from new regulations (or “grandfathers”) all piers up to 8-feet wide and loading platforms or “decks” (located at the end of the pier) that are 200 square feet or less. The law also grandfathers decks between 200 and 300 square feet, as long as they are no wider than 10 feet.
“This new law is very important to waterfront property owners and will provide certainty as to which piers are legal, and which are not,” said Mike Spranger, WRA Chairman. According to Spranger, “The new law strikes a good balance between the rights of property owners and the rights of the public to use and enjoy our waterways.”
This new law was worked on by a broad coalition of key stakeholders including the Wisconsin Department of Natural Resources, Wisconsin REALTORS® Association, the Wisconsin Wildlife Federation, the Wisconsin Builders Association, and the Wisconsin Association of Lakes.
While some existing piers will not be grandfathered, the law makes the process easier and more equitable for obtaining the necessary permits to keep these piers in place. Many of the piers have been a part of the property for years and years so the new law provides a fair resolution.
We can all agree that piers certainly add value to waterfront property because it provides access to the water for boating and recreation. In addition, there is a significant emotional attachment for some property owners; it's the place where many families have spent countless hours swimming, fishing and spending time together.
From personal experience, I can tell you that naps on the end of the pier are priceless!
The sun is shining, the snow is melting and spring is here; come on up and enjoy our beautiful lakes, woods, fresh air and "grandfathered piers".......Life is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
Friday, March 28, 2008
Fed Rate Cut = Mortgage Rate Cut????
Are you a little puzzled over why mortgage rates have not skidded to all time lows? After all, Fed rates have been cut five times for a total of 2.5%, so why don't we get a downward move in mortgage rates? In fact, mortgage rates are now higher than they were before the Fed began cutting rates.
The Fed controls the Discount Rate and the Fed Funds Rate; this is quite different from mortgage rates. Mortgage rates are based on mortgage-backed bonds known as Mortgage Backed Securities. Bonds that are issued by Fannie Mae and Freddie Mac and how those bonds perform when traded give us the rise and fall of mortgage rates.
Inflation will always be a big negative for any long-term bond because inflation eats away at the future return of the bond. Another piece in this puzzle is the performance of the NASDAQ and broader stock market.
As bond prices rise, interest rates fall. As bond prices fall, interest rates rise. As the NASDAQ moves higher, bond prices move lower which causes interest rates to rise. Conversely, as the NASDAQ declines, mortgage bonds benefit which causes mortgage rates to fall.
Fed rate cuts have had virtually no direct effect on mortgage rates. As the Fed cuts rates this impacts and typically stimulates the NASDAQ which then has a negative effect on mortgage rates.
Confused yet? Is there any good news? The biggest beneficiaries of the cuts are those home owners that have resets on their adjustable-rate mortgages. That's because the rate on many of adjustable-rate-loans is pegged to the rate on the one-year Treasury bill; it tends to move down after Fed rate cuts. Fixed-rate mortgages are typically tied to the rate on 10-year Treasury notes, so they are affected more by conditions in credit markets and inflationary moves; Fed cuts have little affect on long-term fixed mortgages.
The good news is that rates still are historically low when you look back over the past 40 years. One local bank just quoted me 6% for a 30-year fixed-rate mortgage....not bad!
The temps are warming up and the blue skies and bright sun certainly are a welcome site. The moon was bright last night and still beautiful at 6:00 am this morning....Life is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
The Fed controls the Discount Rate and the Fed Funds Rate; this is quite different from mortgage rates. Mortgage rates are based on mortgage-backed bonds known as Mortgage Backed Securities. Bonds that are issued by Fannie Mae and Freddie Mac and how those bonds perform when traded give us the rise and fall of mortgage rates.
Inflation will always be a big negative for any long-term bond because inflation eats away at the future return of the bond. Another piece in this puzzle is the performance of the NASDAQ and broader stock market.
As bond prices rise, interest rates fall. As bond prices fall, interest rates rise. As the NASDAQ moves higher, bond prices move lower which causes interest rates to rise. Conversely, as the NASDAQ declines, mortgage bonds benefit which causes mortgage rates to fall.
Fed rate cuts have had virtually no direct effect on mortgage rates. As the Fed cuts rates this impacts and typically stimulates the NASDAQ which then has a negative effect on mortgage rates.
Confused yet? Is there any good news? The biggest beneficiaries of the cuts are those home owners that have resets on their adjustable-rate mortgages. That's because the rate on many of adjustable-rate-loans is pegged to the rate on the one-year Treasury bill; it tends to move down after Fed rate cuts. Fixed-rate mortgages are typically tied to the rate on 10-year Treasury notes, so they are affected more by conditions in credit markets and inflationary moves; Fed cuts have little affect on long-term fixed mortgages.
The good news is that rates still are historically low when you look back over the past 40 years. One local bank just quoted me 6% for a 30-year fixed-rate mortgage....not bad!
The temps are warming up and the blue skies and bright sun certainly are a welcome site. The moon was bright last night and still beautiful at 6:00 am this morning....Life is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
Tuesday, March 11, 2008
People Say the Darndest Things!
Greetings:
The weather is fabulous today in Hayward; it is sunny and bright, about 35 degrees and the snow is melting. Amanda just called from Playa del Carmen and they are enjoying sunny weather and it's about 85 degrees poolside! Hmmmm....
I thought you'd enjoy something on the lighter side today - thanks to Fred Kortepeter, Sycamore Group, REALTORS®, Indianapolis, who passed along these gaffes and comments he's gathered from listing sheets over the years.
- Sellers to keep all flooring.
- One-owner condom near lake.
- Exclude basement, as it is a family heirloom.
- Priced for quick sale! (House had been on the market 15 months.)
- Mirror over fireplace and roof don't stay.
- Four acres on large lot.
- Defects: Neighbors' septic tank stinks in the summer.
- Watch for snake in the driveway. Don't run over it.
- Third-floor walk-up apartment: Great for getting rid of in-laws.
- Dog bites. Don't go in the house.
- Walls to be replaced.
- Reason selling: Moving.
Anyway, we're dreaming of spring & time on the lake!
Life Is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
nathan@garynathan.com
http://www.garynathan.com/
http://www.haywardwaterfront.com/
The weather is fabulous today in Hayward; it is sunny and bright, about 35 degrees and the snow is melting. Amanda just called from Playa del Carmen and they are enjoying sunny weather and it's about 85 degrees poolside! Hmmmm....
I thought you'd enjoy something on the lighter side today - thanks to Fred Kortepeter, Sycamore Group, REALTORS®, Indianapolis, who passed along these gaffes and comments he's gathered from listing sheets over the years.
- Sellers to keep all flooring.
- One-owner condom near lake.
- Exclude basement, as it is a family heirloom.
- Priced for quick sale! (House had been on the market 15 months.)
- Mirror over fireplace and roof don't stay.
- Four acres on large lot.
- Defects: Neighbors' septic tank stinks in the summer.
- Watch for snake in the driveway. Don't run over it.
- Third-floor walk-up apartment: Great for getting rid of in-laws.
- Dog bites. Don't go in the house.
- Walls to be replaced.
- Reason selling: Moving.
Anyway, we're dreaming of spring & time on the lake!
Life Is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
nathan@garynathan.com
http://www.garynathan.com/
http://www.haywardwaterfront.com/
Friday, February 29, 2008
Sawyer County Zone Districts
In my blog a couple of weeks ago I promised I would follow up with some interesting information about zone districts in Sawyer County from a land use comparison perspective. If you remember I asked what zone district comprised the greatest percentage of land use in the County; the answer is forestry at an outstanding 71%.
Our County comprises more than 1,354 square miles or about 866,560 acres. Of that there is more than 58,000 acres of total surface water area. More than 36% of the County is in public ownership.
See the numbers below that were graciously supplied by Eric Wellauer from Sawyer County Zoning along with his team in that office that worked to put this together. Draw your own conclusions but one thing I can tell you for sure, the water and woods of Sawyer County is why most of us live here and why others want to join us!
By the way, nearly 7000 people skied the Birkie here last weekend and it is snowing today so the trails for skiing and snowmobiling are excellent. The Hayward 300 Snowmobile Races are this weekend. Come on up and enjoy our great north woods.
Life Is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
nathan@garynathan.com
http://www.garynathan.com/
Our County comprises more than 1,354 square miles or about 866,560 acres. Of that there is more than 58,000 acres of total surface water area. More than 36% of the County is in public ownership.
See the numbers below that were graciously supplied by Eric Wellauer from Sawyer County Zoning along with his team in that office that worked to put this together. Draw your own conclusions but one thing I can tell you for sure, the water and woods of Sawyer County is why most of us live here and why others want to join us!
By the way, nearly 7000 people skied the Birkie here last weekend and it is snowing today so the trails for skiing and snowmobiling are excellent. The Hayward 300 Snowmobile Races are this weekend. Come on up and enjoy our great north woods.
Life Is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
nathan@garynathan.com
http://www.garynathan.com/
Thursday, February 21, 2008
Friday, February 15, 2008
Make No Mistake
It's a mistake to look at the Wisconsin and Sawyer County housing market through the lens of national indicators. I'm sure you heard the report yesterday on headline news that national housing sales decreased as well as prices. Well, that has not happened here.
While sales in Wisconsin dipped in 2007, prices actually increased leaving Wisconsin in much better shape than many parts of the nation. In Sawyer County we had another increase in the number of home sales in quarter 4 of 2007 as compared to the same quarter in 2006. Sales were up from 48 units to 68 units. The median sale price rose by more than $30,000 last quarter (as compared to 2006) to $177,500. For our county in 2007, the median price and total home sales were up over 2006.
Certainly 2007 was no picnic compared to the boom years but our future continues to brighten more quickly than a good share of the country. The stability of prices in this soft market is certainly a good sign for buyers. Housing remains a good way to accumulate and maintain household wealth. Lower rates and good inventory provides excellent buying opportunities.
Next week I'm going to share some information on Sawyer County Zone Districts. Forestry is the largest zone district category in Sawyer County. What percentage of the County is zoned foresty? Find out the details next week.
Don't forget that this weekend is the Walleyes for Northwest Wisconsin Family Ice Fishing event in Hayward. Also, it's the North End Classic Ski Race on Sunday. AND the big ones..the Birkie and the Barnebirkie are next weekend! Good luck to all you skiers!
Life is Good.....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
While sales in Wisconsin dipped in 2007, prices actually increased leaving Wisconsin in much better shape than many parts of the nation. In Sawyer County we had another increase in the number of home sales in quarter 4 of 2007 as compared to the same quarter in 2006. Sales were up from 48 units to 68 units. The median sale price rose by more than $30,000 last quarter (as compared to 2006) to $177,500. For our county in 2007, the median price and total home sales were up over 2006.
Certainly 2007 was no picnic compared to the boom years but our future continues to brighten more quickly than a good share of the country. The stability of prices in this soft market is certainly a good sign for buyers. Housing remains a good way to accumulate and maintain household wealth. Lower rates and good inventory provides excellent buying opportunities.
Next week I'm going to share some information on Sawyer County Zone Districts. Forestry is the largest zone district category in Sawyer County. What percentage of the County is zoned foresty? Find out the details next week.
Don't forget that this weekend is the Walleyes for Northwest Wisconsin Family Ice Fishing event in Hayward. Also, it's the North End Classic Ski Race on Sunday. AND the big ones..the Birkie and the Barnebirkie are next weekend! Good luck to all you skiers!
Life is Good.....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
Wednesday, February 06, 2008
HOPE NOW
This week I want to take a little different spin on the troubled home market; there is always alot of talk about it, but is there any help? If you know of someone who is having trouble with their current mortgage and needs help, I have some tips for you.
Your family or friend may be eligible for relief under the President's initiative announced in mid-December; it is designed to help stem the tide of defaulted subprime mortgages. The most important part of this service is an interest-rate freeze, but it does not apply to all borrowers. Here's what a party in trouble should do:
1. Call the national counseling hotline at 888-995-4673.
2. Expect to be on the phone with a counselor for 45 minutes or more.
3. Expect that the counselor will recommend a course of action if a person is eligible.
4. Service providers are flexible and tend to be pretty helpful.
5. Refinancing is the typical solution for most borrowers but there are other alternatives.
The most important advice you can give your family or friend is to encourage them to call the hotline ASAP and start the process of seeking a solution; waiting could make any remedy impossible.
This weekend is the Pre-Birkie race from Lake Hayward to Hwy OO; sponsored by the local Lions Club this is always a great event. Come on up and enjoy the fun!
Life is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad Street
Hayward, WI 54843
nathan@garynathan.com
http://www.garynathan.com/
Your family or friend may be eligible for relief under the President's initiative announced in mid-December; it is designed to help stem the tide of defaulted subprime mortgages. The most important part of this service is an interest-rate freeze, but it does not apply to all borrowers. Here's what a party in trouble should do:
1. Call the national counseling hotline at 888-995-4673.
2. Expect to be on the phone with a counselor for 45 minutes or more.
3. Expect that the counselor will recommend a course of action if a person is eligible.
4. Service providers are flexible and tend to be pretty helpful.
5. Refinancing is the typical solution for most borrowers but there are other alternatives.
The most important advice you can give your family or friend is to encourage them to call the hotline ASAP and start the process of seeking a solution; waiting could make any remedy impossible.
This weekend is the Pre-Birkie race from Lake Hayward to Hwy OO; sponsored by the local Lions Club this is always a great event. Come on up and enjoy the fun!
Life is Good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad Street
Hayward, WI 54843
nathan@garynathan.com
http://www.garynathan.com/
Thursday, January 31, 2008
CYCLES
Hola! This week Shari and I have had the pleasure of spending time in Playa del Carmen, MX where it appears they are building condos and developing every vacant lot available. Just a few years ago developers could not keep up with demand; now supply has surpassed demand and some developments are standing idle.
Home building runs in cycles; in the U.S. we have had four such cycles since the early 1970’s. Housing starts peaked in 1973, 1977, 1984 and 2006. Those peaks were followed by troughs in 1975, 1981, 1991and 2007 respectively. The same is true for home price appreciation. We had peaks in the mid to late 1970’s early 1980’s and 1990’s and the longest one from 1996 to 2006. You guessed it, each peak period was followed by a trough period.
According to the Bureau of Economic Analysis, new-home starts have fallen by at least 60 percent from their peak in past cycles. In the current cycle housing starts have fallen 47 percent. We are living with the legacy of the investor/speculator boom and lenient mortgage underwriting. Oversupply caused by overbuilding has been augmented by foreclosed properties. The number one indicator for a market upturn is a decline in new homes from an eight-month supply to a six-month supply. If builders don’t control supply it’s going to make the recovery that much more painful.
Fortunately, our market is similar to Playa del Carmen but on a much smaller scale. People go to Playa for the sun, ocean, beaches, great restaurants, shopping and relaxation. They purchase housing because they feel it’s a good investment in an international market. Folks come to our area for the pristine lakes, tens of thousands of acres of woods, clean air, four seasons, great restaurants, shopping and world-class events. They buy real estate because they feel it is a good long-term investment. Cycles happen; we have experienced them before. We don’t live in a boom or bust area so our highs and lows aren’t as severe as some other parts of the country.
Ok - I hear it’s really cold back home so perhaps a little extra time on the beach would be a smart consumer choice!!??
Have a great weekend…..Life Is Good….Enjoy!
Thanks to Dennis Smith for some of this week’s home building info…
Gary Nathan
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@cheqnet.net
www.garynathan.com
Home building runs in cycles; in the U.S. we have had four such cycles since the early 1970’s. Housing starts peaked in 1973, 1977, 1984 and 2006. Those peaks were followed by troughs in 1975, 1981, 1991and 2007 respectively. The same is true for home price appreciation. We had peaks in the mid to late 1970’s early 1980’s and 1990’s and the longest one from 1996 to 2006. You guessed it, each peak period was followed by a trough period.
According to the Bureau of Economic Analysis, new-home starts have fallen by at least 60 percent from their peak in past cycles. In the current cycle housing starts have fallen 47 percent. We are living with the legacy of the investor/speculator boom and lenient mortgage underwriting. Oversupply caused by overbuilding has been augmented by foreclosed properties. The number one indicator for a market upturn is a decline in new homes from an eight-month supply to a six-month supply. If builders don’t control supply it’s going to make the recovery that much more painful.
Fortunately, our market is similar to Playa del Carmen but on a much smaller scale. People go to Playa for the sun, ocean, beaches, great restaurants, shopping and relaxation. They purchase housing because they feel it’s a good investment in an international market. Folks come to our area for the pristine lakes, tens of thousands of acres of woods, clean air, four seasons, great restaurants, shopping and world-class events. They buy real estate because they feel it is a good long-term investment. Cycles happen; we have experienced them before. We don’t live in a boom or bust area so our highs and lows aren’t as severe as some other parts of the country.
Ok - I hear it’s really cold back home so perhaps a little extra time on the beach would be a smart consumer choice!!??
Have a great weekend…..Life Is Good….Enjoy!
Thanks to Dennis Smith for some of this week’s home building info…
Gary Nathan
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@cheqnet.net
www.garynathan.com
Wednesday, January 23, 2008
Economic Changes
The quickly changing economy certainly presents some challenges for all of us and the forecasts are all over the board. The last half of 2007 and the first part of this year have been dominated by the subprime mortgage market and the latest stock market sell-off. High oil prices, retail sales and home sales have taken a backseat.
So what is in store for the Wisconsin economy and Sawyer County? How will all this playout in the months to come? We all have our own forecast and stories to tell.
Wisconsin projects that personal income growth will be about 4.3% which follows the U.S. growth rate. We will not be hit as hard by the subprime crisis and mortgage foreclosures are half of what they are in the U.S. on average. Wisconsin folks have above national average credit scores and lower debt levels.
Exports are booming; in fact Wisconsin has enjoyed a 50% increase over the past three years. Wisconsin business, particularly the technology sector is expanding and creating more wealth. We have less economic risk because we are not a boom or bust type of economy.
Finally, this is a presidential election year so the good news is that overall economic growth has historically been better than average during those years. The bad news is we have several months yet of debates and candidates verbally attacking one another.
Our little company had a great year last year including record sales on Teal and Blueberry Lakes and full price and near full price offers on several other lake homes, commercial lots and businesses. We intend to make 2008 another great year; come on up and join us!
In order that I might better serve my real estate customers and clients I will be taking the next week off and exposing my brain and body to warm sun and sea breezes. Amanda will be here working hard and keeping our "local economy" rolling along.
Don't forget that the Pre-Birkie is Saturday, February 9!
Life is good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
So what is in store for the Wisconsin economy and Sawyer County? How will all this playout in the months to come? We all have our own forecast and stories to tell.
Wisconsin projects that personal income growth will be about 4.3% which follows the U.S. growth rate. We will not be hit as hard by the subprime crisis and mortgage foreclosures are half of what they are in the U.S. on average. Wisconsin folks have above national average credit scores and lower debt levels.
Exports are booming; in fact Wisconsin has enjoyed a 50% increase over the past three years. Wisconsin business, particularly the technology sector is expanding and creating more wealth. We have less economic risk because we are not a boom or bust type of economy.
Finally, this is a presidential election year so the good news is that overall economic growth has historically been better than average during those years. The bad news is we have several months yet of debates and candidates verbally attacking one another.
Our little company had a great year last year including record sales on Teal and Blueberry Lakes and full price and near full price offers on several other lake homes, commercial lots and businesses. We intend to make 2008 another great year; come on up and join us!
In order that I might better serve my real estate customers and clients I will be taking the next week off and exposing my brain and body to warm sun and sea breezes. Amanda will be here working hard and keeping our "local economy" rolling along.
Don't forget that the Pre-Birkie is Saturday, February 9!
Life is good....Enjoy!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
Thursday, January 17, 2008
Warning!
There is a bunch of information on the Internet about how you can log onto a company web site to learn the current value of your home. For the most part I find this to be misleading for home owners. Online automated valuations are not appraisals and the legality of these models is being debated as I write. This is NOT a valuation, it is a automated guess at best.
Realistic valuations are typically secured one of three ways. The best way is by hiring an independent licensed appraiser to do a full appraisal overview; its a process not a guess. There is a fee but well worth it in the end.
Another way to find a fairly accurate value for your home is to have your real estate agent do a comparative market analysis (CMA) which is typically free.
Finally, look at your most recent tax statement which will provide the estimated fair market value of your property. If your property has been recently assessed that "estimated fair market value" is normally pretty accurate unless your tax assessor is especially conservative.
Work with professionals if you want accurate and truthful results!
We received a little snow last night; the ski trails are excellent and the snowmobile trails in the woods are good. Have a great weekend!
Life Is Good...Enjoy!
Gary Nathan and
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
Realistic valuations are typically secured one of three ways. The best way is by hiring an independent licensed appraiser to do a full appraisal overview; its a process not a guess. There is a fee but well worth it in the end.
Another way to find a fairly accurate value for your home is to have your real estate agent do a comparative market analysis (CMA) which is typically free.
Finally, look at your most recent tax statement which will provide the estimated fair market value of your property. If your property has been recently assessed that "estimated fair market value" is normally pretty accurate unless your tax assessor is especially conservative.
Work with professionals if you want accurate and truthful results!
We received a little snow last night; the ski trails are excellent and the snowmobile trails in the woods are good. Have a great weekend!
Life Is Good...Enjoy!
Gary Nathan and
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
Thursday, January 10, 2008
Planning On Building an Ark?
Noah in 2007
In the year 2007, the Lord came unto Noah, who was now living in the United States, and said, "Once again, the earth has become wicked and over-populated, and I see the end of all flesh before me. Build another Ark and save 2 of every living thing along with a few good humans." He gave Noah the blueprints, saying, "You have 6 months to build the Ark before I will start the unending rain for 40 days and 40 nights."
Six months later, the Lord looked down and saw Noah weeping in his yard - but no Ark. "Noah!" He roared, "I'm about to start the rain! Where is the Ark?" "Forgive me, Lord," begged Noah, "but things have changed. I needed a building permit. I've been arguing with the inspector about the need for a sprinkler system. My neighbors claim that I've violated the neighborhood zoning laws by building the Ark in my yard and exceeding the height limitations. We had to go to the Development Appeal Board for a decision.
Then the Department of Transportation demanded a bond be posted for the future costs of moving power lines and other overhead obstructions, to clear the passage for the Ark's move to the sea. I told them that the sea would be coming to us, but they would hear nothing of it.
Getting the wood was another problem. There's a ban on cutting local trees in order to save the spotted owl. I tried to convince the environmentalists that I needed the wood to save the owls - but no go! When I started gathering the animals, an animal rights group sued me. They insisted that I was confining wild animals against their will. They argued the accommodation was too restrictive, and it was cruel and inhumane to put so many animals in a confined space.
Then the EPA ruled that I couldn't build the Ark until they'd conducted an environmental impact study on your proposed flood.
I'm still trying to resolve a complaint with the Human Rights Commission on how many minorities I'm supposed to hire for my building crew. Immigration and Naturalization are checking the green-card status of most of the people who want to work. The trades unions say I can't use my sons. They insist I have to hire only Union workers with Ark-building experience
To make matters worse, the IRS seized all my assets, claiming I'm trying to leave the country illegally with endangered species.
So, forgive me, Lord, but it would take at least 10 years for me to finish this Ark."
Suddenly the skies cleared, the sun began to shine, and a rainbow stretched across the sky. Noah looked up in wonder and asked, "You mean you're not going to destroy the world?"
"No," said the Lord. "The government beat me to it! "
There you have it! Have a wonderful week.......Life Is Good....Enjoy!
This was given to me by Chris McGrath, a broker associate in our office...thanks Chris!
Gary Nathan and
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
In the year 2007, the Lord came unto Noah, who was now living in the United States, and said, "Once again, the earth has become wicked and over-populated, and I see the end of all flesh before me. Build another Ark and save 2 of every living thing along with a few good humans." He gave Noah the blueprints, saying, "You have 6 months to build the Ark before I will start the unending rain for 40 days and 40 nights."
Six months later, the Lord looked down and saw Noah weeping in his yard - but no Ark. "Noah!" He roared, "I'm about to start the rain! Where is the Ark?" "Forgive me, Lord," begged Noah, "but things have changed. I needed a building permit. I've been arguing with the inspector about the need for a sprinkler system. My neighbors claim that I've violated the neighborhood zoning laws by building the Ark in my yard and exceeding the height limitations. We had to go to the Development Appeal Board for a decision.
Then the Department of Transportation demanded a bond be posted for the future costs of moving power lines and other overhead obstructions, to clear the passage for the Ark's move to the sea. I told them that the sea would be coming to us, but they would hear nothing of it.
Getting the wood was another problem. There's a ban on cutting local trees in order to save the spotted owl. I tried to convince the environmentalists that I needed the wood to save the owls - but no go! When I started gathering the animals, an animal rights group sued me. They insisted that I was confining wild animals against their will. They argued the accommodation was too restrictive, and it was cruel and inhumane to put so many animals in a confined space.
Then the EPA ruled that I couldn't build the Ark until they'd conducted an environmental impact study on your proposed flood.
I'm still trying to resolve a complaint with the Human Rights Commission on how many minorities I'm supposed to hire for my building crew. Immigration and Naturalization are checking the green-card status of most of the people who want to work. The trades unions say I can't use my sons. They insist I have to hire only Union workers with Ark-building experience
To make matters worse, the IRS seized all my assets, claiming I'm trying to leave the country illegally with endangered species.
So, forgive me, Lord, but it would take at least 10 years for me to finish this Ark."
Suddenly the skies cleared, the sun began to shine, and a rainbow stretched across the sky. Noah looked up in wonder and asked, "You mean you're not going to destroy the world?"
"No," said the Lord. "The government beat me to it! "
There you have it! Have a wonderful week.......Life Is Good....Enjoy!
This was given to me by Chris McGrath, a broker associate in our office...thanks Chris!
Gary Nathan and
Amanda Mavis
Woodland Dev. & Realty
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
Thursday, January 03, 2008
How’s Your Credit Score?
Credit reports have been known for containing erroneous information, due to incorrect reporting by creditors or fraud. Before you decide to buy your next home or other real estate consider ordering your free report at www.annualcreditreport.com. As soon as you get your credit report read it carefully to see if there are any errors.
You can aggressively dispute any fraudulent entries with the creditors and the credit bureaus in order to dramatically improve your FICO score. FICO is an acronym for the creators of the FICO score, Fair Isaac Credit Organization; a standard credit score which makes up a substantial portion of a credit report that credit bureaus sell to lenders so they can asses an applicant's credit risk and whether to extend them credit. In fact, there is a bunch of helpful hints online at the annual credit report site. Your goal is to make sure that your personal stats are accurate.
Shoot for a credit score of not less than 700; credit scores under 580 will usually qualify only for sub prime loans. Before you get in the mood to buy make sure you don’t have any credit lines that are over the credit limit; if so immediately pay them down below the limit. If your credit limits are fairly low and you have some surplus cash, consider paying as many bills as possible down to 30 percent or less of their limits. You will also want to have at least three month’s worth of mortgage payments available.
If you are planning on receiving some money from your rich parents, or other wealthy relatives, be sure and get the money in the bank at least two months prior to submission of your loan application.
Finally, whether you live here or away work with one of our local trustworthy loan professionals; they will help you through the myriad of mortgage programs and find the one that is most compatible for you.
Once again I want to remind you that the snow is great for all sorts of outdoor activities. Have a great week…..Life Is Good…Enjoy!
Gary Nathan and
Amanda Mavis
Woodland Developments & Realty
Hayward, WI 54843
715-699-4040
www.garynathan.com
www.haywardwaterfront.com
You can aggressively dispute any fraudulent entries with the creditors and the credit bureaus in order to dramatically improve your FICO score. FICO is an acronym for the creators of the FICO score, Fair Isaac Credit Organization; a standard credit score which makes up a substantial portion of a credit report that credit bureaus sell to lenders so they can asses an applicant's credit risk and whether to extend them credit. In fact, there is a bunch of helpful hints online at the annual credit report site. Your goal is to make sure that your personal stats are accurate.
Shoot for a credit score of not less than 700; credit scores under 580 will usually qualify only for sub prime loans. Before you get in the mood to buy make sure you don’t have any credit lines that are over the credit limit; if so immediately pay them down below the limit. If your credit limits are fairly low and you have some surplus cash, consider paying as many bills as possible down to 30 percent or less of their limits. You will also want to have at least three month’s worth of mortgage payments available.
If you are planning on receiving some money from your rich parents, or other wealthy relatives, be sure and get the money in the bank at least two months prior to submission of your loan application.
Finally, whether you live here or away work with one of our local trustworthy loan professionals; they will help you through the myriad of mortgage programs and find the one that is most compatible for you.
Once again I want to remind you that the snow is great for all sorts of outdoor activities. Have a great week…..Life Is Good…Enjoy!
Gary Nathan and
Amanda Mavis
Woodland Developments & Realty
Hayward, WI 54843
715-699-4040
www.garynathan.com
www.haywardwaterfront.com
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