Homeowners Bill of Rights

On July 20, 2017, state lawmakers Rep. Adam Jarchow (R-Balsam Lake) and Sen. Tom Tiffany (R-Hazelhurst) introduced legislation designed to reverse several important property rights cases recently decided by both the U.S. Supreme Court and Wisconsin Supreme Court. These cases have highlighted the need for legislative action to adequately protect the rights of property owners to reasonably use and develop their property. 

Background 

Recent federal and state court decisions have highlighted the need for legislative action to adequately protect the rights of property owners to reasonably use and develop their property. The U.S. Supreme Court and the Wisconsin Supreme Court have decided three important property rights cases within the last several months against the interests of property owners:

Murr v. Wisconsin regarding substandard lots and regulatory takings.
AllEnergy v. Trempeleau County regarding conditional use permits.
McKee v. City of Fitchburg regarding vested rights. 

Among other things, these cases demonstrate the need to develop a statutory framework at the state level to address development approval processes at the local level that have become increasingly more subjective, arbitrary and unfair to property owners. 

Proposed legislation

In response to these unfavorable court rulings, the WRA, which participated in each of these cases through the WRA Legal Action Program, has worked with state lawmakers to introduce legislation that would better protect property rights, create a more predictable development approval process and encourage greater investment in real estate in Wisconsin. Specifically, the legislation contains the following key provisions:

Substandard lots: The proposal would protect the ability of property owners to develop and sell all substandard lots that were legal when they were created but do not meet current lot size requirements. In other words, all substandard lots would be grandfathered and local governments would be prohibited from requiring adjacent, substandard lots in common ownership to be merged. Currently, over 50 counties have lot-merger ordinances in effect. Finally, the proposal overturns the U.S. Supreme Court’s recent decision in Murr v. Wisconsin, which upheld St. Croix County’s lot-merger ordinance as a reasonable use of the county’s policy power and declared that such lot-merger ordinances did not constitute a regulatory taking. Specifically, the proposal contains the following provisions:

- A definition of “substandard lot.”
- Grandfathering all substandard lots by allowing them to be sold or built upon according to existing building code requirements.
- Prohibiting local governments from imposing lot-merger requirements.
- Identifying each individual lot as “property” for purposes of all government actions and inverse condemnations regardless of whether the lot is contiguous and/or under common ownership with other lots.

Conditional use permit: The proposal would create a statutory framework for conditional use permits (CUPs) and provide additional certainty for property owners by establishing a more fair and reasonable approval process. Currently, no statutory framework exists for CUPs. Moreover, property owners are often subjected to decision making and tremendous uncertainty with respect to the CUP process. Finally, the proposal would overturn the Wisconsin Supreme Court’s recent decision in AllEnergy v. Trempeleau County, which held that property owners are not entitled to a CUP if they satisfy or agree to satisfy all the conditions and requirements established by the local government. Specifically, the proposal contains the following provisions:

- A definition of “conditional use.”
- Requiring decisions regarding CUPs to be based upon “substantial evidence.” Substantial evidence means evidence that reasonable persons would accept in support of a conclusion. Public comment based solely on personal opinion, uncorroborated hearsay or speculation does not constitute substantial evidence.
- Requiring all conditions and standards to be reasonable and measurable.
- Requiring local government to grant the CUP if the property owner satisfies or agrees to satisfy all CUP conditions and requirements.

Variances: Codifies current law by defining “area variance” and “use variance” and states the burden of proving “unnecessary hardship” can be met by demonstrating that strict compliance with a zoning ordinance would:

- Unreasonably prevent the property owner from using his or her property for a permitted purpose or would render conformity with the zoning ordinance unnecessarily burdensome; area variance.
- Leave the property owner with no reasonable use of the property in the absence of a variance; use variance.

Vested rights: Clarifies that an application for a development permit is grandfathered from any changes to local ordinances at the time the application is submitted even if the local government has multiple permit requirements for the development. Current law grandfathers the application for a development permit from changes to local ordinances if the application must be approved by multiple local governments but not multiple approvals by the same local government. In doing so, the legislation makes it crystal clear that property owners, like the ones in McKee v. City of Fitchburg, will not have the rules of the game unfairly changed after they begin the development approval process.

Regulatory takings/inverse condemnation: Makes it clear that regulatory takings can occur if a regulation eliminates most, but not all, reasonable use of a property. The bill codifies the Penn Central balancing test adopted by the U.S. Supreme Court in 1978 in the landmark private property rights case, Penn Central Transportation v. New York City, 438 U.S. 104 (1978).

The legislature will likely hold a public hearing on the legislation in September or October when the legislature reconvenes for the fall floor period. 

Article from WRA

A Lure Of Lights

Hayward's Main Street will be lit up every night Nov. 24th - Dec. 30th for an amazing display of lights and music! A Lure of Lights was created in 2010 by two friends who wanted to see Hayward shine brighter than it already did. With big dreams, creative visions, and a lot of gumption, they created Hayward, Wisconsin's  A "Lure" of Lights. 

See a video of the famous lights below!

2017 Remodeling Impact Report

2017 Remodeling Impact Report

Taking on projects is often worth the investment and time. After remodeling, 75 percent of owners have a greater desire to be in their home. Here is the 2017 report from NAR on the impact of remodels on homes. 

To see the report, click the following link and then click "2017 Remodeling Impact Report" to download: bit.ly/2zFKL9f

Where Are Buyers Searching For Homes To Buy?

Where Are Buyers Searching For Homes To Buy?

There are many ways to find homes for sale. It is very important to know where the most buyers are so your home gets the most exposure. Here are the stats from NAR on the home searching process.

- For 44 percent of recent buyers, the first step that they took in the home buying process was to look online at properties for sale, while 17 percent of buyers first contacted a real estate agent.

- 79% of recent buyers found their real estate agent to be a very useful information source. Online websites were seen as the most useful at 86 percent.

- Buyers typically searched for 10 weeks and looked at a median of 10 homes.

- The typical buyer who did not use the internet during their home search spent only four weeks searching and visited four homes, compared to those who did use the internet and searched for 10 weeks and visited 10 homes.

- Among buyers who used the internet during their home search, 89 percent of buyers found photos and 85 percent found detailed information about properties for sale very useful.

- Sixty percent of recent buyers were very satisfied with their recent home buying process, up from 59 percent a year ago.

Characteristics of Homebuyers

Characteristics of Homebuyers

Here are the statistics from NAR on who the homebuyers are. (From 2016)

• First-time buyers made up 35 percent of all home buyers, an increase over last year’s near all-time low of 32 percent.

• The typical buyer was 44 years old again for the third straight year in a row, and the median household income for 2015 rose again this year to $88,500.

• Sixty-six percent of recent buyers were married couples, 17 percent were single females, seven percent were single males, and eight percent were unmarried couples.

• Eleven percent of home buyers purchased a multi-generational home, to take care of aging parents, for cost savings, and because of children over the age of 18 moving back home.

• Eighteen percent of recent home buyers are veterans and two percent are active-duty service members.

• At 31 percent, the primary reason for purchasing a home was the desire to own a home of their own.

10 Anti-Burglary Tips

10 Anti-Burglary Tips

1. Maintain your property. Especially in the wintertime, many people stay indoors and neglect issues such as peeling trim or an overgrown yard. But if the home looks unkempt, thieves may think it’s abandoned and, therefore, an easy target. Shoveling your walkways to clear them of snow and debris and removing holiday decorations and fallen tree branches in a timely manner will signal that the home is occupied.
2. Know your neighbors. Many people don’t really know their neighbors; it’s more than just saying hi and being friendly. Invite them over to see your home before it goes on the market, and introduce them to the people they may see regularly stopping by during this time (especially your agent). Then they’ll know who is and isn’t supposed to be at your home and can better assess when there may be a threat while you’re gone.
3. Assess your home’s vulnerability. Walk to the curb and face your house. Ask yourself, “How would I get in if I were locked out?” The first thing you think of, whether it’s the window with a broken lock or the door that won’t shut all the way, is exactly how a thief will get in. Think like a burglar, and then address the issues that come to mind.
4. Respect the power of lighting. Criminals are cowards, and they don’t want to be seen. The house that is well-lit at night provides a deterrent because thieves don’t want the attention and the potential to be caught by witnesses. It’s wise to invest in tools that make nighttime light automation easy. That includes dusk-to-dawn adapters that go into existing light fixtures and motion detectors. But beware of leaving your exterior lights on at all times, which signifies the occupant is gone for an extended period of time.
5. Use technology to make your home look occupied. In addition to lighting, smart-home technology has made it easier to make it appear like people are home, even when they’re not. Systems that remotely control lighting, music, and appliances such as a thermostat can help you achieve this. Though not considered smart-home tech, simple lamp timing devices available at hardware stores are also good for this purpose.
6. Yes, it has to be said: Lock your doors. It’s amazing how many people think they live in a safe-enough neighborhood not to have to lock their doors when they leave. Some facts sellers should know: In 30 percent of burglaries, the criminals access the home through an unlocked door or window; 34 percent of burglars use the front door to get inside; and 22 percent use the back door, according to the FBI Uniform Crime Report.
7. Reinforce your locks. A good door lock is nothing without a solid frame. Invest in a solid door jam and strike plate first, and then invest in good locks. Know the difference between a single-cylinder and a double-cylinder deadbolt. Double-cylinder deadbolts are recommended because they require a key to get in and out. For safety and emergency escape purposes, you must leave the key in when you are home. But double-cylinder locks are against regulations in some places, so check with your local police department’s crime prevention office.
8. Blare the sirens. Burglars are usually in and out in less than five minutes, and they know police can’t respond to an alarm that quickly. Their bigger concern is witnesses to their crime. For that reason, an external siren is invaluable, whether as part of a monitored security system or a DIY alarm. Even if you don’t have an alarm, it’s not a bad idea to invest in fake security signs and post them near doors.
9. Consider surveillance cameras. The Los Angeles Police Department started a program encouraging homeowners to install a device called Ring, a doorbell with video surveillance capability that allows homeowners to view what’s outside their door on their smartphone, in a neighborhood that was a target for burglaries. After Ring was installed in hundreds of homes, the burglary rate dropped by 55 percent, according to reports. Most state and local regulations require posting a warning that people are being recorded. (But again, this can be effective even if you don’t actually have the cameras installed!)
10. Mark your valuables and record details. Use invisible-ink pens or engravers to mark identifying information (driver’s license or state ID numbers) on items. Log serial numbers and take photos of your belongings. Check to see if your police department participates in the Operation Identification program. They will have stickers for you to place on doors or windows warning would-be thieves that your items are marked. These steps may prevent them from pawning or selling stolen items and can help you reclaim recovered belongings.

Tips from NAR

Number of Affordable Homes For Sale Rises

Number Of Affordable Homes For Sale Rises

Affordability is the number one concern of prospective home buyers. Sure, there are a lot of things on a buyer's mind when they begin looking for a home to purchase but things like the number of bedrooms in a house or the size of the kitchen don't really matter if you can't afford to buy it.

Well, according to new numbers from the National Association of Home Builders, during the first quarter of this year, the number of affordable homes available to buy rose from the end of last year. Specifically, 60.3 percent of new and existing homes sold were within the reach of a family earning the median U.S. income of $68,800. Robert Dietz, NAHB's chief economist, said there are a couple of reasons for the improvement. “Ongoing job growth continues to fuel demand for housing, while wage growth is helping to offset the effects of rising mortgage rates and keeping home prices affordable,” Dietz said.

Home prices, obviously, are a big part of this equation. And, though they've been on the rise for some time now, according to the report, they fell during the first quarter of 2017. In fact, the national median home price was $245,000, which is down from $250,000 at the end of last year. 

Top 10 Outdoor Remodeling Projects

Top 10 Outdoor Remodeling Projects

You've probably heard that outdoor remodeling projects can improve the resale value of your home, but do you know which ones are the most highly recommended by Realtors? A recent report by the National Association of Realtors ranked the most valuable outdoor features in terms of cost and return on investment. Here's a look at their top picks in order of their appeal to buyers 1. Basic Lawn Care -- 303 percent ROI with an estimated cost of $330 for six applications of fertilizer and weed control 2. Overall Landscape Upgrade -- 105 percent ROI with an estimated cost of $4,750 for a 30-foot flagstone walkway, two 6-foot stone planters, five flowering shrubs, one deciduous 15-foot tree and mulch 3. New Patio -- 102 percent ROI for an estimated cost of $6,400 4. New Wood Deck -- 106 percent ROI for an estimated cost of $9,450 5. Softscape Upgrade -- 100 percent ROI for an estimated cost of $7,000 for five trees, 25 shrubs, 60 perennials, edging and boulders. 6. Sod Lawn -- 143 percent ROI for an estimated cost of $700 for 1,000 feet 7. Seed Lawn -- 417 percent ROI for an estimated cost of $120 for 1,000 feet 8. Fire Pit -- 78 percent ROI for an estimated cost of $4,500 for dry stacked natural stone kits and a gas burner with 10-foot-diameter flagstone pat 9. Fireplace -- 60 percent ROI for an estimated cost of $13,300 for veneered masonry stone, gas starter, chimney and wood mantel 10. New Pool -- 50 percent ROI for an estimated cost of $50,000 HouseLogic, a homeownership site, surveyed consumers about their last remodeling project and calculated a "joy score" from 1 to 10 based on their satisfaction with the completed work. While a pool came in last in terms of its buyer appeal and ROI, it received the highest joy score, a perfect 10. Other top joy-scoring projects included an overall landscape upgrade (9.8), a new wood deck (9.7), a new patio (9.6) and a softscape upgrade (9.6).

The Top Factors That Drive 1st Time Homebuyers

The Top Factors That Drive 1st Time Homebuyers

No two paths to homeownership are exactly the same. There are too many variables for that to be true. But though there are many different paths, there are a few common factors that play a role when first-time buyers decide to purchase a house. 

According to a recent survey from Bank of America, the first – and most obvious – factor is money. Just over half of respondents said having the financial means to purchase a home is what would ultimately be the decider. But though money is an undeniable factor, not all of the main motivators were financial. In fact, 40 percent of participants said it was a desire to have a place to call their own that would make them buy a home. A steady job and realizing money spent on rent would be better used toward a mortgage came in third and fourth on the list. Marriage is also a big influencer, with 22 percent of respondents saying getting married is what led them to consider buying a house. 

Finally, thinking mortgage rates and home prices were favorable was cited by 19 percent of first-time buyers. Repeat buyers, by comparison, had a very different list. In their case, needing more space and favorable rates and prices came in second and third. However, having the financial means also ranked first among current owners looking to buy.

Fixer-Uppers Prove Popular With 1st Time Buyers

Fixer-Uppers Prove Popular With 1st Time Buyers

Last year, first-time home buyers spent 22 percent more renovating their new house than buyers the year before. The increase shows a significant spike in younger buyers who are willing to take on the challenge of buying a fixer-upper. 

But what's behind the surge? Well, one obvious reason to buy a house in need of some work is price. Naturally, if you're going to find a bargain, it's likely going to be because the house isn't in the best shape. Depending on how handy you are – or how much savings you've built up – you may be inclined to grab a lower-priced house with a plan to upgrade it to your liking. 

The other reason, which would help explain the recent spike, are current market conditions. Since inventory in many markets is low, there are fewer homes available for buyers to choose from. That means, more buyers are going to have to look at homes that may need a little help. Nino Sitchinava, principal economist for Houzz, the company who conducted the survey, says recent buyers are always a big share of renovations and low inventory of affordable homes is helping to boost those numbers. “Younger and cash-constrained first-time buyers are responding to the low inventory of affordable homes by purchasing properties that require more than just cosmetic upgrades,” Sitchinava said. 

Is What's Outside As Important As The Inside?

Is What's Outside As Important As The Inside?

When it comes to buying a house, most people focus first on what's going on inside the house. The size of the kitchen, the number of bedrooms, closets, storage, etc., are all top concerns. But, according to a recent survey from the National Association of Realtors, access to outdoor recreation is nearly as important to most home buyers. 

Respondents listed benefits such as better health, an appreciation of nature, and a greater sense of community among the reasons they believed it was important to be close to outdoor features. And it wasn't a small number, either. There were large majorities that said outdoor recreation was either very or somewhat important to them. In fact, 56 percent of participants said it was very important and an additional 30 percent said it was somewhat important. 

Not surprisingly, there was a slight difference depending on where respondents lived. For example, in the West, 65 percent of those surveyed said outdoor recreation was very important to them, while just 51 percent felt the same way in the Midwest. Still, it's clearly something to think about when searching for a home to buy – whether you're buying a home by the water or just looking for something close to a neighborhood park. 

A Few Benefits Of Owning A Home In Retirement

A Few Benefits Of Owning A Home In Retirement

In recent years, there's been an increasing number of older Americans who rent rather than own their own home. But is renting really a better choice for retirees looking to reduce costs and obligations? 

Well, not necessarily. While it's true that homeownership brings with it ongoing expenses like routine maintenance and property taxes that continue even after you've paid off your mortgage, renting can't offer some of the benefits that homeownership alone provides. For example, equity. Once you've built up equity in your home, you can take out a line of credit and borrow money from your home's value. Obviously, this can be a good option for older homeowners on a fixed income. Also, provided you have a fixed-rate mortgage, your house payment isn't subject to the ups-and-downs of the market the way rent can be. As a renter, you're at the mercy of your landlord. After all, they own the house or building you're living in and can set the price to their liking. 

Like anything, there are pros and cons to owning a home during retirement. However, homeownership provides a valuable asset that can be advantageous for retired homeowners in a position to benefit from it.

Staging Tricks To Help Sell Your Home

Staging Tricks To Help Sell Your Home

Getting ready to list your house for sale? Putting some effort into staging it well can impact how quickly it moves off the market. The tenets of staging are pretty basic: declutter, depersonalize and deep clean. But there are some little-known tactics that experts swear by. Here are a few home staging tips to help you prepare: Draw eyes to a room's best attribute, whether that's a beautiful fireplace or a window with a great view, by strategically placing a decorative accent like a vase or large plant nearby. Clean out and organize closets, cabinets and pantries, leaving more space than you normally might. This can give potential buyers the impression that your home has storage to spare. Want to make a room seem larger? Remove rugs to give the appearance of unbroken floor space. Add fluffy white towels to your bathrooms. The neutral hue implies cleanliness and can give the room a spa-like feel. Turn on interior lights during an open house, even if it's daytime. If your home is outfitted with compact fluorescent bulbs, be sure they have enough time to warm up to full capacity before the event begins. Widen the walking area around major pieces of furniture, such as beds and sofas. A few extra inches can make all the difference. Leaving a room unstaged and free of furniture can encourage buyers to imagine how they could use your space. By being thoughtful with your staging efforts, you can help potential buyers see themselves living a happy life in your home, and that may be all it takes to seal the deal.

2016 Home Sales Data On Windigo Lake

2016 Home Sales Data On Windigo Lake

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

Our analysis indicates that there were 5 unit sales in 2016 on Windigo Lake compared to 3 sales in 2015. The average days on market were 83 versus 508 in 2015 while the average sales price in 2016 was $426,700 as compared to $280,000 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 94.7% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 4% above the EFMV.

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

What Home Buyers Want Most This Spring

What Home Buyers Want Most This Spring

Home buyers, through the years, tend to value the same things. It makes sense. Though styles may vary and specific preferences may change, at the end of the day, we all want the same things out of our homes. 

Generally speaking, it all comes down to storage, space, and a sense of security. This year is no different. For example, a newly released survey of hopeful spring home buyers found that privacy was the top goal cited when asked what they valued most. Privacy even beat out family needs, which came in a close second. As for storage and space, garages and backyards were also near the top of the priorities list for most buyers. Demographically, younger buyers were more likely to want a large yard, while garages were particularly popular with buyers over the age of 55. 

Either way, it's clear that this year's house hunters have common needs. There is one need, however, that buyers share more than any other. When asked which room was most important to them, 80 percent of respondents named the kitchen. For obvious reasons, the kitchen is consistently ranked high atop buyers' wish lists. After all, no matter how young or old a buyer is, they need to eat – which is why a good kitchen is always a draw for home shoppers.

2016 Home Sales Data On Whitefish Lake

2016 Home Sales Data On Whitefish Lake

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

Our analysis indicates that there were 12 unit sales in 2016 on Whitefish Lake compared to 7 sales in 2015. The average days on market were 267 versus 182 in 2015 while the average sales price in 2016 was $431,200 as compared to $417,786 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 95% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 7% above the EFMV.

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

Respectfully,

Gary A. Nathan
Broker

2016 Home Sales Data On Stone & Little Stone Lakes

2016 Home Sales Data On Stone & Little Stone Lakes

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

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

Our analysis indicates that there were 2 unit sales in 2016 on the two lakes compared to 2 sales in 2015. The average days on market were 432 versus 349 in 2015 while the average sales price in 2016 was $265,000 as compared to $179,950 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 94% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 22% above the EFMV.

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

Respectfully,

Gary A. Nathan
Broker

Hopeful Outlook Forecasts A Spring Bump

Hopeful Outlook Forecasts A Spring Bump

The real estate market is constantly evolving. What is true one day may not be the next. For example, this past winter many forecasts for the upcoming spring season predicted buyers might be scared off by rising interest rates and a lack of homes for sale. However, now that spring has arrived, mortgage rates have come down a bit and the housing market has been among the strongest sectors of the economy. 

For example, Fannie Mae's Economic & Strategic Research Group's latest housing forecast notes both a stronger-than-usual February and the prospects for a good spring. “February fared better than other hard economic indicators partly due to the warm winter weather, and the ESR group expects that a seasonal uptick in listings going into the spring selling season will help alleviate extremely tight inventory,” the group's latest release reads.

In other words, despite higher rates and low inventory, the housing market performed well in February and trends going forward indicate conditions may be even more favorable now. As more homeowners put their homes up for sale, buyers will find improving conditions for a spring home search. 

2016 Home Sales Data on Spider Lake

2016 Home Sales Data on Spider Lake

We are pleased to provide you with the 2016 results for residential sales on the Spider Lake

chain of lakes. This information includes data we secured from properties listed on the Northwest Wisconsin Multiple Listing Service (MLS); it does not take into account sales that may have occurred directly between parties.

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

Our analysis indicates that there were 6 unit sales in 2016 on the Spider Lake chain compared to 11 sales in 2015. The average days on market were 89 versus 192 in 2015 while the average sales price in 2016 was $320,500 as compared to $230,000 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 93% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 27% above the EFMV.

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

Respectfully,

Gary A. Nathan

Broker

2016 Home Sales Data On Sand Lake

2016 Home Sales Data On Sand Lake

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

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

Our analysis indicates that there were 5 unit sales in 2016 on Sand Lake compared to 5 sales in 2015. The average days on market were 141 versus 197 in 2015 while the average sales price in 2016 was $215,800 as compared to $351,400 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 93% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 6.5% above the EFMV.

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

Respectfully,

Gary A. Nathan

Broker

April 2017 Events in Hayward

April 2017 Events in Hayward

Serendipity presents The Wizard of Oz

See the Wizard of Oz at The Park Center. For tickets and more info, click here.

George's Goats for Grammas Run/Walk

Help support Ugandans in need by participating in this run/walk in Cable. 100% of the proceeds go to the Ugandan people in need. For more info click here.

Couderay Waters Film Festival

The Couderay Water's film festival brings award-winning outdoor adventure films to Hayward, WI. The Film selections will entertain, educate, and inspire you to explore your natural environment. For more info, click here.

2016 Home Sales Data On Round & Little Round Lakes

2016 Home Sales Data On Round & Little Round Lakes

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

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

Our analysis indicates that there were 15 unit sales in 2016 on the lakes compared to 25 sales in 2015. The average days on market were 308 versus 379 in 2015 while the average sales price in 2016 was $611,087 as compared to $484,592 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 90.5% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 8% below the EFMV.

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

Respectfully, 

Gary A. Nathan
Broker

Where Millennial Home Buyers Are Buying Today

Where Millennial Home Buyers Are Buying Today

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

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

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

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

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

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

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

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

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

Respectfully,

Gary A. Nathan

Broker 

2016 Nelson & Smith Lakes Home Sales Data

2016 Nelson & Smith Lakes Home Sales Data

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

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

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

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

Respectfully,

Gary A. Nathan

Broker 

Survey Finds Americans In The Mood To Buy

Survey Finds Americans In The Mood To Buy

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

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

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

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

2016 LCO Lake Home Sales Data

2016 LCO Lake Home Sales Data

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

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

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

Respectfully,

Gary A. Nathan,
Broker

2016 Grindstone Lake Home Sales Data

2016 Grindstone Lake Home Sales Data

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

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

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

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

Respectfully,

Gary A. Nathan
Broker

Housing Outlook Sees Strong Year Ahead

Housing Outlook Sees Strong Year Ahead

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

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

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

2016 Callahan and Mud Lake Homes Sales Data

2016 Callahan and Mud Lake Home Sales Data

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

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

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

Respectfully,

Gary A. Nathan

Broker

12th Annual Regional Hospice/WHSM Polar Plunge

12th Annual Regional Hospice/WHSM Polar Plunge

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

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

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

World's Largest Fat Bike Race

World's Largest Fat Bike Race

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

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

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

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

2016 Chippewa Flowage Home Sales Data

2016 Chippewa Flowage Home Sales Data

Greetings, 

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

Our analysis indicates that there were 12 unit sales in 2016 on the lake compared to 14 sales in 2015. The average days on market were 225 in 2016 versus 314 in 2015 while the average sales price in 2016 was $237,417 as compared to $274,571 in 2015. In a review of sales price verses list price, the average sales price ended up at approximately 93% of list price. Compared to the Sawyer County real estate estimated fair market value (EFMV) the average sales price for the subject properties finished approximately 2% below the EFMV. 

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

Respectfully,

Gary A. Nathan

Broker

How Do You Compare To The Typical Home Seller?

How Do You Compare To The Typical Home Seller?

The National Association of Realtors' Profile of Home Buyers and Sellers takes an annual look at the who, what, where, and how of the year's typical real-estate transaction. Based on a survey sent out across the country, the results reveal things like how much the average home seller made on the sale of their home, how buyers came up with their downpayment, and what types of homes sold, who sold them, and for how much.

For example, last year's typical seller was 54 years old, had been living in their home for 10 years, and had a median income of $100,700. The most commonly cited reason for selling a home was to find something bigger, which was named by 18 percent of respondents. Other common reasons for selling a home included wanting to live closer to friends and family and because of a new job. 

The majority of sellers didn't have to offer any incentives in order to attract a buyer for their home and nearly 9 in 10 used a real-estate agent to help sell their house. The typical home seller was able to sell their home for $43,100 more than they purchased it for and got 98 percent of their final listing price.