A Great Opportunity
We have all read and heard about the soft market and how “it is no longer a seller’s market” and home sales have fallen as well as new home starts. So if it isn’t a seller’s market it must be a buyer’s market. This may be the perfect time for buyers to take advantage of the large inventory of properties; it is certainly true that the inventory of lake homes and off-water homes is above last year’s level.
There are some other factors for buyers to take into consideration, there is an apparent lowering of prices on some homes coupled with mortgage rates at a stall and appearing to fall a little. Sellers are also offering interest rate buy-downs, sharing of closing costs, pricing incentives and even gifts like home warranties, house cleaning for six months and fishing boats. I personally like the fishing boat idea.
The good news for buyers is that all this may translate into being able to afford a house now that may have been a future dream as well as a large inventory from which to choose. Prices may not go any lower in the future but in most areas, particularly our area, properties are still appreciating at no less than 4-6 percent. Overall the next six months just may provide some great opportunities. My advice to sellers is to get dressed for the dance; translated that means get your property looking great.
The air is crisp and fresh in the mornings and the fall colors are at near peak so plan to spend some time in the Hayward area soon.
Have a great weekend and
Enjoy, Life is Good!
Gary A. Nathan
Friday, September 29, 2006
Thursday, September 21, 2006
Wealth…no small potatoes!
Wealth…no small potatoes!
This past week a friend of mine forwarded some information regarding a report on Wealth Transfer Analysis in Wisconsin. The overall publication was put out in 1999 by John Havens and Paul Schervish with Boston College. It is a pretty remarkable study and indicates that over the next 50 years there will be more than $41 trillion of US wealth transferred from the current generation to the next.
In Wisconsin estimates provide that there is about $543 billion in wealth with a projected 10 year wealth transfer of $105 billion. In Sawyer County the analysis indicates that current net worth is $1.93 billion (year 2000). Over the next 50 years the estimated inter-generational transfer of wealth will be $2.3 billion. When we look at the estimates for this decade the wealth transfer is estimated at $0.39 billion. No small potatoes!
The interesting part of this analysis is that if just 5% of the wealth could be captured into community endowments there would be nearly $20 million realized in this decade alone. Think of how that might translate into community betterment.
The entire report was prepared by the Rural Policy Research Institute, Nebraska Center and was commissioned and is supported by the Donor’s Forum of Wisconsin.
Don’t forget that this weekend is Fall Fest in Hayward with lots of arts, crafts, food, music and happenings going on, so come on up north and enjoy the beautiful fall colors. My guess is we are half-way into peak colors and the weather is always splendid.
Have a great weekend and….
Enjoy, Life is Good!
Gary A. Nathan
This past week a friend of mine forwarded some information regarding a report on Wealth Transfer Analysis in Wisconsin. The overall publication was put out in 1999 by John Havens and Paul Schervish with Boston College. It is a pretty remarkable study and indicates that over the next 50 years there will be more than $41 trillion of US wealth transferred from the current generation to the next.
In Wisconsin estimates provide that there is about $543 billion in wealth with a projected 10 year wealth transfer of $105 billion. In Sawyer County the analysis indicates that current net worth is $1.93 billion (year 2000). Over the next 50 years the estimated inter-generational transfer of wealth will be $2.3 billion. When we look at the estimates for this decade the wealth transfer is estimated at $0.39 billion. No small potatoes!
The interesting part of this analysis is that if just 5% of the wealth could be captured into community endowments there would be nearly $20 million realized in this decade alone. Think of how that might translate into community betterment.
The entire report was prepared by the Rural Policy Research Institute, Nebraska Center and was commissioned and is supported by the Donor’s Forum of Wisconsin.
Don’t forget that this weekend is Fall Fest in Hayward with lots of arts, crafts, food, music and happenings going on, so come on up north and enjoy the beautiful fall colors. My guess is we are half-way into peak colors and the weather is always splendid.
Have a great weekend and….
Enjoy, Life is Good!
Gary A. Nathan
Thursday, September 14, 2006
Healthy but Slower
Healthy but Slower
The overall market locally continues to be healthy but sales have slowed; part of the slowdown is due to the fact that schools are back in session and this is traditionally a quieter period. However, history also shows that from late September to hunting season (a national holiday in the north woods of Wisconsin that occurs in late November) the market is pretty active.
The Sawyer County Record recently reported that demand for rural land and lakeshore property led the full market value of private property in Sawyer County. The figures reported by the Wisconsin Bureau of Assessments said that property values increased by 11.29 per cent over last year. Not bad when compared with many other investment opportunities.
The good part is that growth in equalized values does not necessarily translate into higher taxes, that according to Wisconsin Dept. of Revenue Secretary, Michael L. Morgan. He went on to say that Wisconsin homeowners will continue to reap the benefit of a strong Wisconsin economy and that home ownership remains a worthwhile investment.
I would agree with Mr. Morgan and add that our area is especially blessed because of the thousands of acres of water and woods. The market is slower but real estate in general is healthy in the north woods.
This weekend is the Chequamegon Fat Tire Race Festival, it features 2500 cyclists and the event has earned the title of “Nations Most Popular Off Road Bicycle Adventure”. Come on up to Hayward and enjoy a great weekend, the forecast is for sunny skies and warm temperatures. You guessed it; yours truly will be on the lake, beginning tonight, for some great floating and sunset views.
Enjoy, Life is Good!
Gary A. Nathan
Woodland Developments & Realty
The overall market locally continues to be healthy but sales have slowed; part of the slowdown is due to the fact that schools are back in session and this is traditionally a quieter period. However, history also shows that from late September to hunting season (a national holiday in the north woods of Wisconsin that occurs in late November) the market is pretty active.
The Sawyer County Record recently reported that demand for rural land and lakeshore property led the full market value of private property in Sawyer County. The figures reported by the Wisconsin Bureau of Assessments said that property values increased by 11.29 per cent over last year. Not bad when compared with many other investment opportunities.
The good part is that growth in equalized values does not necessarily translate into higher taxes, that according to Wisconsin Dept. of Revenue Secretary, Michael L. Morgan. He went on to say that Wisconsin homeowners will continue to reap the benefit of a strong Wisconsin economy and that home ownership remains a worthwhile investment.
I would agree with Mr. Morgan and add that our area is especially blessed because of the thousands of acres of water and woods. The market is slower but real estate in general is healthy in the north woods.
This weekend is the Chequamegon Fat Tire Race Festival, it features 2500 cyclists and the event has earned the title of “Nations Most Popular Off Road Bicycle Adventure”. Come on up to Hayward and enjoy a great weekend, the forecast is for sunny skies and warm temperatures. You guessed it; yours truly will be on the lake, beginning tonight, for some great floating and sunset views.
Enjoy, Life is Good!
Gary A. Nathan
Woodland Developments & Realty
Thursday, September 07, 2006
Another Perspective
I was just reading a few days ago in the Wall St. Journal about how investors on Wall St. are starting to invest again in Real Estate via REIT's and new home-builder securities. The rationale is we are most likely at the bottom of the market from a securities investment standpoint and that there is (probably) only upside remaining from these investments. The latest month to month data has new and existing home sales down 4% across most major markets. Many of the buyers I am working with have told me that the reason they are still buying lake property up here while their home markets are relatively soft real estate wise is the increased security of a real estate investment in our market vs. their home market. It seems that the ones with real estate dollars to spend are not willing to spend it on their existing or new home (still wondering if the bottom of the market has occured), however, they don't seem to mind spending it up here because they feel it is more secure (and, historical data illustrates that this is correct). So, perhaps less real estate dollars are being spent, however, when they are, they are being spent up here because of our historical stability and the fact that the buyer's can actually enjoy their real estate investment if made up here!
Chris McGrath
Chris McGrath
Thursday, August 31, 2006
What’s Happening in Real Estate?
What’s Happening in Real Estate?
That is a question we hear from both Buyers and Sellers who are asking about the current real estate market, and as one might expect we get all kinds of opinions from those same folks.
The answer depends upon whether we are talking about the national, regional or local market. It took nine months for the national media to report the housing slowdown that started in the summer of 2005; the popping of the residential housing bubble is not exactly new news and yet that is what many customers talk about.
In many of the hot markets it was the “investors” who drove the pricing and once they moved out of those areas the supply and demand for houses became more balanced. To a lesser degree we find that to be true in our local market however we do not experience the roller coaster type ride. Locally I continue to be very optimistic.
Buyers will always be fearful they are paying too much and sellers will be fearful they are leaving too much money on the table. What’s happening is that buyers are more careful in their search and discovery process, and are more patient as they go through the due diligence to be sure the property meets their needs and expectations. Sellers need to price their properties appropriately, provide loads of information to simplify the process for the buyers and stage their property in the best possible manner.
What’s happening locally is that we are blessed with thousands and thousands of acres of lakes, woods and fresh air which attract many great folks to the area. If you happen to be visiting this weekend, don’t miss the Rib and Brew Fest on Sunday in downtown Hayward. Forecast is for beautiful fall temperatures in the 70’s and a slight chance of wonderful rainfall. Have a great weekend!
Life Is Good, Enjoy!
Gary A. Nathan
That is a question we hear from both Buyers and Sellers who are asking about the current real estate market, and as one might expect we get all kinds of opinions from those same folks.
The answer depends upon whether we are talking about the national, regional or local market. It took nine months for the national media to report the housing slowdown that started in the summer of 2005; the popping of the residential housing bubble is not exactly new news and yet that is what many customers talk about.
In many of the hot markets it was the “investors” who drove the pricing and once they moved out of those areas the supply and demand for houses became more balanced. To a lesser degree we find that to be true in our local market however we do not experience the roller coaster type ride. Locally I continue to be very optimistic.
Buyers will always be fearful they are paying too much and sellers will be fearful they are leaving too much money on the table. What’s happening is that buyers are more careful in their search and discovery process, and are more patient as they go through the due diligence to be sure the property meets their needs and expectations. Sellers need to price their properties appropriately, provide loads of information to simplify the process for the buyers and stage their property in the best possible manner.
What’s happening locally is that we are blessed with thousands and thousands of acres of lakes, woods and fresh air which attract many great folks to the area. If you happen to be visiting this weekend, don’t miss the Rib and Brew Fest on Sunday in downtown Hayward. Forecast is for beautiful fall temperatures in the 70’s and a slight chance of wonderful rainfall. Have a great weekend!
Life Is Good, Enjoy!
Gary A. Nathan
Thursday, August 24, 2006
Wish I would have!
Hayward, WI Real Estate
Wish I would have!
How many times have you said “I wish I would have purchased that lake lot or lake home ten years ago”. Take a look at some real estate ads that a colleague in the office shared with me. These appeared in the 1971 Visitor Guide, a locally famous publication.
- 200 ft. lakefront lot on Lost Land Lake…only 9 of these most desirable lots remain; prices range from $7,500 to $9,000. Terms available.
- Cottage on Lac Courte Oreillies, furnished and located on 200 ft. of the finest sand beach lakeshore on one of the largest natural lakes in the State. Asking price $20,500; terms available.
- Cottage on Little Round Lake; 150 ft. frontage (with additional 50 ft. available); lot is very deep, insuring privacy. Household goods included. Asking price $18,000.
- New 2-Bedroom Cottage on Lost Land Lake situated on a 200 ft. lot with beautiful view of the lake. Asking price is $16,500
- Resort on the Chippewa Flowage includes 9 housekeeping cabins; lodge with beer bar. 3-bedroom home for owner’s living quarters. Price $85,000.
Well, I don’t even want to begin to share what 200 ft. of the finest sand beach lakeshore would be on Lac Courte Oreilles today, unless I owned some of course. Yours truly was not here in 1971 but I did arrive in 1980 and could have purchased a beautiful lot on Lac Courte Oreilles for $85,000; no, shame on me I did not. So what is my point? Draw your own conclusions because I do not have a crystal ball. Congratulations to those of you who had the foresight to buy in 1971 and 1980 and to those who have made great lakeshore purchases over the years. I do know that we enjoyed another beautiful sunset float on Grindstone Lake last night; come and join us sometime.
We had a refreshing overnight rainfall and the forecast is for more sun, warm and the possibility of some wonderful rain later this week. Have a great weekend and don’t forget about the Fat Tire Race on Saturday, September 15.
Life is Good!
Gary A. Nathan
Wish I would have!
How many times have you said “I wish I would have purchased that lake lot or lake home ten years ago”. Take a look at some real estate ads that a colleague in the office shared with me. These appeared in the 1971 Visitor Guide, a locally famous publication.
- 200 ft. lakefront lot on Lost Land Lake…only 9 of these most desirable lots remain; prices range from $7,500 to $9,000. Terms available.
- Cottage on Lac Courte Oreillies, furnished and located on 200 ft. of the finest sand beach lakeshore on one of the largest natural lakes in the State. Asking price $20,500; terms available.
- Cottage on Little Round Lake; 150 ft. frontage (with additional 50 ft. available); lot is very deep, insuring privacy. Household goods included. Asking price $18,000.
- New 2-Bedroom Cottage on Lost Land Lake situated on a 200 ft. lot with beautiful view of the lake. Asking price is $16,500
- Resort on the Chippewa Flowage includes 9 housekeeping cabins; lodge with beer bar. 3-bedroom home for owner’s living quarters. Price $85,000.
Well, I don’t even want to begin to share what 200 ft. of the finest sand beach lakeshore would be on Lac Courte Oreilles today, unless I owned some of course. Yours truly was not here in 1971 but I did arrive in 1980 and could have purchased a beautiful lot on Lac Courte Oreilles for $85,000; no, shame on me I did not. So what is my point? Draw your own conclusions because I do not have a crystal ball. Congratulations to those of you who had the foresight to buy in 1971 and 1980 and to those who have made great lakeshore purchases over the years. I do know that we enjoyed another beautiful sunset float on Grindstone Lake last night; come and join us sometime.
We had a refreshing overnight rainfall and the forecast is for more sun, warm and the possibility of some wonderful rain later this week. Have a great weekend and don’t forget about the Fat Tire Race on Saturday, September 15.
Life is Good!
Gary A. Nathan
Thursday, August 17, 2006
“Hay-chi”
Hayward, WI Real Estate
“Hay-chi”
All across the US there are planned “wellness” communities popping up that are working to create a wellness culture, a place where you can immerse yourself in a life-prolonging atmosphere of health. They go beyond nice golf courses, spas and gyms; it’s more like a west coast, nutrition retreat center with planned outings and your own personal trainer. There is a place in the Napa Valley that is doing ai-chi, a water movement and relaxation exercise in the pool and a hike to the cabernet vineyard which is pretty appealing to me. This is all good stuff by the way.
Hay-chi is our comprehensive approach to a culture of wellness in the Hayward area. By just living here you can have a big impact on your health by breathing fresh air, drinking fresh water (yes, there are even those who have supped right out of our lakes) canoe, boat, kayak and fish rivers and lakes, hike, bike, ski and roller blade our miles and miles of trails and roads, rock-climb, golf, play tennis, chase deer, swim in clear-water glacial lakes or just sit and watch breathlessly beautiful sunsets. If you insist on having your bone density checked or be put on a diet I can set you up with one of my good doctor or nutritionist friends.
For those who want to maintain a healthy lifestyle, the Hayward area may be just the place for you; we didn’t really plan it that way nor can we take any credit, we just happen to be uniquely positioned in an area where we can capture much of what others are trying to create.
The forecast is wonderfully boring; sunshine, warm temperatures, a pop-up shower or two and still waters for evening boat floats. Have a great weekend!
Life is Good!
Gary A. Nathan
“Hay-chi”
All across the US there are planned “wellness” communities popping up that are working to create a wellness culture, a place where you can immerse yourself in a life-prolonging atmosphere of health. They go beyond nice golf courses, spas and gyms; it’s more like a west coast, nutrition retreat center with planned outings and your own personal trainer. There is a place in the Napa Valley that is doing ai-chi, a water movement and relaxation exercise in the pool and a hike to the cabernet vineyard which is pretty appealing to me. This is all good stuff by the way.
Hay-chi is our comprehensive approach to a culture of wellness in the Hayward area. By just living here you can have a big impact on your health by breathing fresh air, drinking fresh water (yes, there are even those who have supped right out of our lakes) canoe, boat, kayak and fish rivers and lakes, hike, bike, ski and roller blade our miles and miles of trails and roads, rock-climb, golf, play tennis, chase deer, swim in clear-water glacial lakes or just sit and watch breathlessly beautiful sunsets. If you insist on having your bone density checked or be put on a diet I can set you up with one of my good doctor or nutritionist friends.
For those who want to maintain a healthy lifestyle, the Hayward area may be just the place for you; we didn’t really plan it that way nor can we take any credit, we just happen to be uniquely positioned in an area where we can capture much of what others are trying to create.
The forecast is wonderfully boring; sunshine, warm temperatures, a pop-up shower or two and still waters for evening boat floats. Have a great weekend!
Life is Good!
Gary A. Nathan
Thursday, August 10, 2006
No Shift Shock
No Shift Shock
While I watch very little television there is an auto ad that has the catchy phrase “all power with no shift shock”. There is much in the news about the Fed and interest rates, the oil pipeline in Alaska, gasoline prices, surging energy costs and the ever present weather reports. All of this, and other world events, has an affect on how we feel and react with respect to the purchase of real estate.
What gets little in the way of headlines are reports like these: Freddie Mac recently reported that the 30-year fixed-rate mortgage fell last week and is just 90 basis points above the rate at this time last year. Despite higher inventories, existing home values nationwide continue to grow; the median selling price for existing single-family homes was up 4.3% from a year earlier. The National Assn. Realtors (NAR) reported that U.S. home sales are simply settling into a slower, more “normal” pace, and that’s actually healthier for the long term housing market. Pending home sales – a leading indicator for the housing sector – have risen for the last two months according to the NAR. Not real interesting compared to major events across the world.
Events around the world certainly affect us and there are bumps in the road, but overall we don’t seem to experience a real estate “shift shock”. Real estate is cyclical and hopefully we will remain on a steady course.
Have a great weekend; the forecast here is more of the same: sunny, warm and perfect lake weather!
Life is Good!
Gary A. Nathan
While I watch very little television there is an auto ad that has the catchy phrase “all power with no shift shock”. There is much in the news about the Fed and interest rates, the oil pipeline in Alaska, gasoline prices, surging energy costs and the ever present weather reports. All of this, and other world events, has an affect on how we feel and react with respect to the purchase of real estate.
What gets little in the way of headlines are reports like these: Freddie Mac recently reported that the 30-year fixed-rate mortgage fell last week and is just 90 basis points above the rate at this time last year. Despite higher inventories, existing home values nationwide continue to grow; the median selling price for existing single-family homes was up 4.3% from a year earlier. The National Assn. Realtors (NAR) reported that U.S. home sales are simply settling into a slower, more “normal” pace, and that’s actually healthier for the long term housing market. Pending home sales – a leading indicator for the housing sector – have risen for the last two months according to the NAR. Not real interesting compared to major events across the world.
Events around the world certainly affect us and there are bumps in the road, but overall we don’t seem to experience a real estate “shift shock”. Real estate is cyclical and hopefully we will remain on a steady course.
Have a great weekend; the forecast here is more of the same: sunny, warm and perfect lake weather!
Life is Good!
Gary A. Nathan
Thursday, July 27, 2006
Boomers Are Buying Second Homes
“Boomers Are Buying Second Homes”
Greetings!
Our summer continues to heat up both from a weather and real estate sales perspective; activity has been pretty brisk.
Earlier this year it was reported by a real estate trade association that American baby boomers bought a record number of second homes for vacation and investment last year, it amounted to nearly 40% of total homes sales in 2005. Interestingly about 33% of 2005 vacation home purchases occurred in the Midwest, followed by 30% in the South, 20% in the West and 17% in the Northeast.
In our local school district sales of “waterfront homes/cabins” per the MLS have increased by approximately 5% for the trailing 12 months over the previous 12 month period from ’04-’05. This “boomer trend” is unlikely to reverse soon even though there has been a broader housing slowdown; baby boomers are at the peak of their earning potential so they should continue to drive second-home sales. Part of this is due to the fact that interest rates have remained tolerable (for those of us who remember the double digit years!) and people want to diversify their investments and enjoy the use of it as well.
Have a wonderful weekend; our forecast is for more warm summer temperatures. If you are in the area the Lumberjack World Championships are being held this weekend right here in Hayward, home of ‘world class events”.
Life is Good!
Gary A. Nathan
Greetings!
Our summer continues to heat up both from a weather and real estate sales perspective; activity has been pretty brisk.
Earlier this year it was reported by a real estate trade association that American baby boomers bought a record number of second homes for vacation and investment last year, it amounted to nearly 40% of total homes sales in 2005. Interestingly about 33% of 2005 vacation home purchases occurred in the Midwest, followed by 30% in the South, 20% in the West and 17% in the Northeast.
In our local school district sales of “waterfront homes/cabins” per the MLS have increased by approximately 5% for the trailing 12 months over the previous 12 month period from ’04-’05. This “boomer trend” is unlikely to reverse soon even though there has been a broader housing slowdown; baby boomers are at the peak of their earning potential so they should continue to drive second-home sales. Part of this is due to the fact that interest rates have remained tolerable (for those of us who remember the double digit years!) and people want to diversify their investments and enjoy the use of it as well.
Have a wonderful weekend; our forecast is for more warm summer temperatures. If you are in the area the Lumberjack World Championships are being held this weekend right here in Hayward, home of ‘world class events”.
Life is Good!
Gary A. Nathan
Summer has really heated up in Hayward; our days have had temperatures in the 80-95 degree range and not much in the way of clouds or rain. Wednesday night was the most spectacular on the lake this year, the moon was full and orange, the sky filled with stars and the lake was like glass. It was a great night for star gazing and satellite tracking. My wife commented that we live in paradise.
The real estate market has heated up as well; the phones are ringing, showings are up, deals are flowing and closings are happening. This morning I spoke with all three title companies in Hayward and two of the three indicated closings were either up or consistent with the same period last year. From my perspective I think our real estate market is steady, growing and normal for our area. In early writings I indicated that our local real estate market typically does not suffer from the severe changes one might see in the coastal areas or larger metro markets.
Most would say that the overall national real estate market is in a moderate and orderly cooling trend; in comparison and from my perspective our market is in a steady and orderly warm trend. We don’t sizzle hot and we don’t get froze out (well, in January it does get pretty cold here), our little piece of paradise has remained pretty comfortable.
Have a wonderful weekend; yours truly is going to head for the lake and a family reunion. Forecast is for sunny, hot and challenging fishing.
Enjoy, Life is Good!
The real estate market has heated up as well; the phones are ringing, showings are up, deals are flowing and closings are happening. This morning I spoke with all three title companies in Hayward and two of the three indicated closings were either up or consistent with the same period last year. From my perspective I think our real estate market is steady, growing and normal for our area. In early writings I indicated that our local real estate market typically does not suffer from the severe changes one might see in the coastal areas or larger metro markets.
Most would say that the overall national real estate market is in a moderate and orderly cooling trend; in comparison and from my perspective our market is in a steady and orderly warm trend. We don’t sizzle hot and we don’t get froze out (well, in January it does get pretty cold here), our little piece of paradise has remained pretty comfortable.
Have a wonderful weekend; yours truly is going to head for the lake and a family reunion. Forecast is for sunny, hot and challenging fishing.
Enjoy, Life is Good!
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