Listings of the Week

Listing of the week: The house that Big Mac boxes built

Above is a great article on Jon Hunstman, Sr. and his Utah retreat home that is for sale for a cool $50 million.

(picture compliments of Zillow)

Want something more reasonably priced, but equally beautiful...?

Try these listings on for size....

Little Round Lake Restful Retreat

Grindstone Lake Perfection

A View Like No Other on Round Lake

Whitefish Lake Majesty

How to hire a real estate agent

This is a great video from Money Talks News on how to hire a real estate agent.

MSN video - How to hire a real estate agent

As always, Gary and I would be happy to answer these same questions for you.

Life is a gift...Live it!

Amanda Mavis

Positive Signs for the Housing Market

There are a number of reasons why I believe we can call this a positive and forward moving housing market. For buyers there continues to be a good inventory of homes to choose from, historically low interest rates and more reasonably priced properties.

According to the Wisconsin Realtors Assn. (WRA) the Wisconsin Housing Authority Index (HAI) is at 245, compared to the U.S. average of 198. This makes Wisconsin homes more affordable than just about anywhere in the U.S. The index shows how much of a median-priced home a median-income buyer can afford. The higher the affordability index the larger the share of homes that can be purchased. Buyers are getting a lot of home for their money in Wisconsin and Sawyer County.

Since September 2009 the WRA HAI has remained above the 200 mark with the exception of one month. The median priced home in Wisconsin is currently at $132,000 and in Sawyer County the median price is $178,000. Our vacation homes help pull that average up.

November home sales in Wisconsin were well above last year and declining prices has moderated. And remember that there have not been any government programs to stimulate sales – a good thing. The first time home buyer credit was active from the fist quarter 2008 to the third quarter in 2010 so sales have gradually improved since that program ended. The strongest region in the State is the north where sales grew 27.7% over November 2010.

Certainly not all conditions are good; we still have foreclosures and some distressed sales to work through but the foreclosure rate in Wisconsin is low compared to the rest of the country. I know that is not exactly a celebration point.

It looks like we are at or close to being in sync with the fundamentals in housing – prices that reflect the true estimated fair market value. The housing market should be good and stabilize as long as interest rates stay low, inventory of homes remain at reasonable levels and pricing is reasonably affordable.

Life Is a Gift…Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15563 Railroad St.
Hayward, WI 54843
nathan@garynathan.com
www.garynathan.com

Christmas Greeting

Merry Christmas!

Gary, Amanda and Barb

Real Estate is Not Dead in Sawyer County

The November numbers are in from the Realtors Association of Northwest Wisconsin's Multiple Listing Service. Most of what we see in Sawyer County has been fairly positive of late with the exception of total homes sold for the year. So, while some of you may be bored by stats here is some reasonably good news. Remember that these are Sawyer County numbers according to the Multiple Listing Service (MLS) for our area and does not include properties sold that are not listed on the MLS.

The total number of homes sold in November was fourteen as compared to ten in 2010; that's a 40% increase over last year. All of northwest Wisconsin saw a 12.4% increase. Year to date Sawyer County has had 178 home sales as compared to 195 in 2010 which is a 8.7% decrease.

The average sale in November was $307,995 versus $233,250 in 2010 which is a 32% increase over last year. All of northwest Wisconsin has seen a 2.1% decrease in November.

The year-to-date median sales price in Sawyer County is $175,000 compared to $151,000 in 2010; that's a 15.9% increase as compared to a negative 4.7% for all of northwest Wisconsin.

While we have certainly had a challenging year in northwest Wisconsin and in our own County please know that the real estate market IS NOT DEAD.

Life is a Gift...Live IT!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15563 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com

Sales in Sawyer County

We are hearing in the media that sales in some areas of our country have picked up and inventories have actually started a slight trend downward. For the most part median sale prices have leveled out as well.

In Sawyer County it is interesting to note that there were 270 sales from January 1, 2010 to October 31, 2010; this includes all residential on and off-water homes as well as vacant land. During the same period in 2011 there have been 233 sales.

Of those sales there were 146 residential homes sold in 2010 and 136 sold in 2011 during that same 10 month period. If we drill down further there were 77 residential waterfront sales in 2010 and nearly the same at 76 sales in 2011. The off-water residential sales were relatively close as well with 69 sales in 2010 and 60 sales in 2011.

This information is based on closings posted on the Multiple Listing Service and accounts for sales only in Sawyer County.

What is not accounted for in the above information are some auction, foreclosure and short sales along with sales that occur between parties for properties not listed on the Multiple Listing Service.

From my perspective this year has certainly been busier than last and we hope that this trend will continue. It is still a good time to be a buyer; there are high inventories, reduced prices and great finance rates. The flip side is that as a buyer you need to be well-qualified and have a reasonable amount of money for a down payment as lender underwriting has really tightened up.

Life Is A Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15563 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com

Flood Insurance

We received this latest blurb from the Realtors Association regarding flood insurance. Earlier this week, Congress passed the Continuing Resolution to keep the government funded until November 18, 2011. The funding for the National Flood Insurance Program (NFIP) was included in that resolution, which means it will remain operational through November 18.

The Senate still needs to pass the 5-year NFIP reform bill and resolve any differences with the House in the next six weeks to avoid a program lapse.

Flooding recently has been the most extensive natural disaster all over the United States. For more information and resources about the NFIP, visit: http://www.realtor.org/topics/nfip

Have a great weekend and remember...Life Is A Gift...Live It!


Gary Nathan
Amanda Mavis
Woodland Dev & Realty
15563 Railroad St
Hayward, WI
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Electronics & Clothing Recycle

The Realtors Association of Northwestern Wisconsin are hosting an electronics recycle day on Saturday, October 29th from 9:00 am to 1:00 pm. The collection site is at the Northland Mini Storage property located at 10128 State Hwy 27, Hayward - just south of the Flat Creek Inn & Suites. In addition to electronics recycling we will also be collecting fall and winter clothing for the Salvation Army.

Our Realtors Assn of Northwestern Wisconsin has been involved in many community events including food drives for the Salvation Army, support for our Troops, Special Olympics, Toys for Tots, Area Food Banks and much more. We have awarded over $115,000 to people in need in northwestern Wisconsin. The grants have provided roof repairs, handicap ramps, plumbing and bathroom repairs.

"We make a living from what we get, but we make a life by what we give" - Sir Winston Churchill.


Life Is A Gift...Live It!

Gary Nathan
Amanda Mavis

Woodland Dev & Realty

15563 Railroad St

Hayward, WI

715-699-4040

nathan@garynathan.com

http://www.garynathan.com/

The New Medicare Tax on Real Estate

If you are like me I don't look forward to paying more taxes; especially on the sale of my real estate. And, if you are like me you are probably confused about when it goes into effect and all the other issues that surround the tax. So, here is a brief overview; it may not be as bad as we all think but it is another tax.

According to the Wisconsin Realtors Association the tax takes effect in 2013. There will be a new 3.8 percent tax imposed on investment income of "high-income earners" -- single households with adjusted gross incomes (AGI) over $200,000 and married households above $250,000. The tax will be levied on the smaller of the household's net investment income, or the excess of AGI over the thresholds.

Capital gains are treated as investment income. If your household's AGI exceeds the thresholds, you will be required to pay the 3.8 percent tax on the following types of real estate:

1. the gain from the sale of a primary residence, if the gain on the home exceeds $250,000 for single households or $500,000 for married households. (For primary residences, the tax applies only to the gain over these amounts.)

2. the gain from the sale of second homes.

3. the gain from the sale of investment and commercial real estate.

4. the net rental income from investment properties.

Note: For real estate other than primary residences, the tax applies to the entire gain.

If you want to read more please download more information by clicking on this link: www.wra.org/NewMedicareTax

Oh joy but better that you be prepared than be surprised.

The weather is just incredible and unfortunately it was a really sad day yesterday as Shari and I took the boat out of the lake. C'mon spring!

Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15563 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Veterans

Greetings,

I am forever grateful to those who have and are serving our country in the military. My father, Otto, and my father-in-law, Al, both served our country and I give thanks that they responded to the call. We can never repay those who have and are serving.

So I wish to share with you the Veterans Administration Home Loan information in the event you have a military family member that needs help with financing. Matt Polsky of the VA Mortgage Center was kind enough to provide some highlights.

VA Home Loans for Wisconsin Service Members

Congress created the VA Home Loan Guaranty program in 1945 to help veterans buy a home upon returning from World War II. Today, service members and veterans still use the program to purchase their dream houses. More than 19 million men and women have used a VA loan to have a place to call home. Wisconsin has seen its fair share of home buyers using VA loans because of their financial benefits.

By making Wisconsin VA loans accessible, service members and veterans can more easily purchase a home. The VA increases accessibility by having flexible qualifying standards. For instance, the VA has no credit score requirement, only VA-certified lenders do. According to VA Mortgage Center, they do not expect perfect credit, due to frequent moves and deployments, and instead look for scores near the 620 mark.

Furthermore some military home buyers have attained a VA loan in Wisconsin with a bankruptcy or foreclosure in their past. These scars in financial history do not immediately disqualify VA loan applicants. Neither does a high debt-to-income (DTI) ratio. Lenders allow DTI ratios as high as 41 percent; however, lower DTI ratios and higher credit scores usually mean better interest rates.

The VA also designed the program to make sure almost all veterans and service members are eligible for the program. As long as a veteran earned a discharge that was not dishonorable, he or she is most likely eligible. Serving on active duty for 90 days during wartime or 181 days during peacetime, may make a service member eligible. National Guard members and Reservists who served for at least six years may be eligible, as may spouses of fallen service members.

Plenty of benefits make Wisconsin VA loans worthwhile. For one thing, unlike any conventional loan, VA loans come with no down payment to qualified home buyers. In Wisconsin, that means military home buyers could fully finance a home worth as much as $417,000. Other perks save money in the short- and long-run:
-Lower closing and concession costs
-Home buyers are not penalized for prepayment
-Private mortgage insurance (PMI) does not exist in VA loans
-Interest rates are negotiable, and for active-duty home buyers they’re capped
-Home buyers approaching default get counseling and new financing options
-Refinancing options allow home buyers to cash out or lower interest rates ]

All it takes to get started toward earning a Wisconsin VA loan is filling out a Certificate of Eligibility (COE). These simple forms are available from the VA or through a VA-certified lender. More information about VA loans in Wisconsin is available from such lenders.

Thank you Veterans and those currently serving. Have a great weekend and remember:
Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
715-699-4040
nathan@garynathan.com
www.garynathan.com