Record Setting Year For Wisconsin Home Sales

Record Setting Year For Wisconsin Home Sales

Wisconsin’s housing market ended a record-setting year with solid growth, pushing annual sales to an all-time high and driving prices up well above the pace of inflation, according to the most recent analysis of the existing home market by the Wisconsin REALTORS^® Association (WRA). December home sales rose 4.1 percent compared to December 2015, and median prices rose 7.4 percent to $161,000. Home sales for the year 2016 increased 6.1 percent compared to 2015, making this the strongest year for sales since the WRA re-calibrated its tracking system in 2005. Median prices for the year rose to $165,000, which is 5.9 percent higher than 2015. By comparison, the average inflation rate for 2016 was just 1.3 percent according to the U.S. Bureau of Labor Statistics.

“This has been a truly remarkable year for housing in the state with sales exceeding 81,000 units for the first time on record,” said WRA board chairman Erik Sjowall. The previous peak recorded using the current tracking system was last year when just over 76,000 homes sold. Comparing 2016 sales to the previous year, solid growth was seen in every region of the state. The most robust sales were seen in the North region, up 7.8 percent; the Southeast region, up 7.2 percent; and the Northeast region, up 6.8 percent. Home sales were also healthy in the West, which was up 5.9 percent; the South Central, up 3.7 percent; and the Central, up 3.6 percent. “We’ve been experiencing very low inventory this past year, and the supply continued to tighten in December, which makes these record sales all the more impressive,” said Sjowall. Statewide, there were just 4.9 months of inventory in December, with the available homes dropping to 33,560. While inventory levels naturally fall during winter months, this is the lowest level seen since the WRA began tracking these figures in late 2009. 

Credit: (WRA)

Home Size Shrinks For First Time Since 2009

Home Size Shrinks For First Time Since 2009

For many years now, the average size of a newly built home has been going up. In fact, by 2015, the typical new home was 2,689 square feet – by comparison, the average was 1,660 square feet in 1974.

That longtime trend took a step back last year, however. In 2016, the average new home fell 55 square feet. And, though that doesn't sound like much, it is the first time in eight years new homes were smaller than the year before, according to Rose Quint, the National Association of Home Builders assistant vice president for survey research. “The data on new home characteristics show a pattern,” Quint said. “2016 marked the end of an era that began in 2009 when homes got bigger and bigger with more amenities. I expect the size of homes to continue to decline as demand increases from first-time buyers.” 

But though Quint believes home size will continue to fall as more first-time buyers enter the market, she doesn't expect added features and amenities to become less popular. In fact, Quint says a majority of home buyers would prefer amenities and features over square footage. “More than two-thirds are willing to trade size for high quality products and features,” Quint said. Among the most coveted home features, a separate laundry room, energy-efficient windows and appliances, outdoor living space, exterior lighting, and a full bath on the main floor rank high. 

Urgent Care Facility Opens in Hayward

Urgent Care Facility Opens in Hayward

The Hayward Area Memorial Hospital Urgent Care is now open. In 2015, HAMH conducted a survey asking the community what would improve our community's access to health care. The top response was urgent care at 49%. Typical conditions they treat in Urgent Care include sore throats, earaches, sprains, strains, colds, coughs, tick bites, and minor lacerations.

Before, the next closest hospital that had urgent care was over 50 miles away. This makes it much easier for our community to get their health needs taken care of quicker and for a lower cost right here in Hayward.

They are open Mon-Fri 5-10pm and Sat-Sun 10am-10pm. You can learn more by visiting their website: haywardmemorialhospital.com or by clicking here.

The Cost of Renting Continues to Climb

The Cost of Renting Continues to Climb

Naturally, affordability is a concern for anyone deciding whether they'll rent or buy their next home. Buying a house is a significant undertaking and involves a number of costs and responsibilities that renters don't have to worry about. That, however, doesn't necessarily mean that renting is always going to be the more affordable option. In fact, rent has been climbing for years and continues to increase, according to a recent analysis from ABODO.

The analysis determined that the average renter last year paid $1,001 per month for a one-bedroom home and the average month-over-month increase was .67 percent. In short, the average rent increased about $85 from where it was at the beginning of last year to where it ended up at the end of the year. Still, when looked at on a state-by-state basis, rental prices vary greatly.

For example, the average rent in states like Georgia, Tennessee, and North Carolina is far lower than it is in areas like the District of Columbia, California, and New York.

Rents in the Hayward area tend to be lower than the metro areas of Madison, Milwaukee and the Twin Cities.  Additionally the Hayward area has little to offer in terms of rental opportunities, just ask anyone who has recently moved here. Many who seek to rent for awhile often find it financially beneficial to purchase since our area has many affordable homes to offer.

Free Ice Fishing Weekend

Free Fishing Weekend

Come Ice Fishing in Hayward this weekend! (January 21-22,  2017)

This weekend, the Wisconsin DNR is holding a free fishing weekend. There is no need for a fishing license or trout stamp. You can fish almost anywhere! The only place you can't fish is in spring trout ponds. Just remember to be very cautious when you head out onto the ice and that all other usual and seasonal regulations are in force. Get more info or find events across the state at the DNR website by clicking here.

Test out your luck and maybe you will find another hobby to enjoy in Hayward!

2017 Seeley Big Fat Race

2017 Seeley Big Fat Race

One of the many winter events in the Hayward area is this weekend! The 2017 Seeley Big Fat Race will be held on Sunday, January 22nd.

Here is the description of the race from CAMBA...

"The Seeley Big Fat Race is a low-key, self-supported, 15-mile fat bike race with a Le Mans style start and finish in Seeley. Take a chance along the course to win a prize, or just flat out haul tail and see how you do at the end of the day. Be sure to bring water, food, tools and anything else you might need on the trail, as you are on your own." 

Its a race with a definite twist and you're not going to want to miss it. Register or find out more by clicking here. 

Association of Wisconsin Snowmobile Clubs (AWSC) is Coming to Hayward!

Over 200 representatives of the (AWSC) are coming to Hayward January 5-7, 2018 to hold their Winter Directors Meeting. We are excited to have them here to see what a Winter Wonderland Hayward is.

Here is the press release from the Sawyer County Alliance:

"On January 8th representatives from each of the 72 counties in Wisconsin voted to hold their January, 2018 meeting in Hayward.  The AWSC is made of 625 snowmobile clubs from throughout the state with a membership of more than 42,000 snowmobile enthusiasts.  The Sawyer County Snowmobile and ATV Alliance will serve as host for the event, with help from the Hayward Area Chamber of Commerce and the many local businesses that benefit from snowmobiling.  Visitors will be staying at Flat Creek, Comfort Suites and the LCO Hotel and Casino.  More than 200 people are expected to attend, with plans calling for a number of guided snowmobile rides on Saturday.  Steve Bethke, Sawyer County Director, expressed hope that these representatives will go back home with a positive impression about snowmobiling in Sawyer county.  "Our goal is to have them share their experiences with their local clubs so that future trips to our area occur" said Bethke"

Tips For Selling A House In 2017

Selling a home can be challenging in any year. Even if market conditions are perfect for homeowners who want to sell, just the act of finding a buyer, shopping for a new place, and organizing a move can be overwhelming. Add in lower for-sale inventory, higher mortgage rates, and economic uncertainty and it may seem like too much to take on. Fortunately, there's no shortage of help available to guide you through this year's real estate market.

A recent article on Trulia breaks down some of the top tips for selling a home in the new year. First on their list is hiring the right agent. Having a professional who knows the local market and your needs can reduce your stress level and make everything else run more smoothly. 

You're also going to want to prepare for competition. Analysts expect inventory to rise this year and that means an increasing number of homes for buyers to choose from. Making your house stand out from the pack might mean staging it according to the demographic most likely to be moving to your neighborhood. In other words, if you live somewhere popular with young families, think about staging an extra bedroom as a nursery.

You should also be sure to keep up with technology. These days, everything from virtual tours to drone photography can be used to set your listing apart.

Ultimately, though, nothing works better than pricing your home correctly from the start. With a good agent and the right price, you will be in a better position to sell your home in 2017.

Is Sawyer County Real Estate Hot?

A couple of weeks ago the Wisconsin Realtors Association  Press Release stated that for January 2016 the housing market in Wisconsin was HOT. According to our statewide data  units sold are up about 10% from 2015 and sold prices are up about 10% as well. Big picture housing for the state is up, but is this true for Sawyer County ? 

Below is a chart from the last 4 years of MLS (Multiple Listing Service) data for Sawyer County.   The data is broken into nine broad categories to help give a wide overview for the sales in Sawyer County over the past few years. 

If you like this data and want more like it feel free to contact us and one of our agents can get you information specific to the property you are looking to sell or purchase.

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Amanda Mavis
Woodland Dev. & Realty

Should you get pre-approved?

Over the next couple of weeks/months I thought it would be fun and informative if we could hear from various local experts in the real estate field.  Hayward has many amazing, smart and savvy business people and I think we can benefit from hearing some of the real estate advice they have to offer.  

If you have a topic or and article you would like to us to write about let me know and I will see what I can put together.

For this blog post we have the privilege of hearing from one of our local lending experts.  She has some great wisdom and advice and many years of experience in the lending business.  Her name is Angie Ruid and she is with Community Bank of Northern WI.  If you'd like to reach her or get more information I've posted her contact information at the end of this article.

Thanks Angie for helping us out with our first guest blog post!


Should you get pre-approved?
Many buyers are not aware that by getting “pre-approved” by a lender can actually
speed up the process of their mortgage loan application. In today’s lending
environment with mortgage regulations being tighter than they have in the past it’s
important for buyers to understand that buying a home can be a lengthy process.
By obtaining a pre-approval from a lender you are not only letting the seller know by
presenting the pre-approval letter with the offer that you are a serious buyer, but it also does speed up the loan process with your lender. By providing your personal
information along with your income and asset to your lender ahead of time allows the
lender to pull your credit and determine your credit worthiness prior to you making an
Then once you have the accepted offer the process is much more simplified.
Documentation supporting your income and assets would be collected from the lender
along with the accepted offer to purchase. Once the file is complete with all necessary
documentation including appraisal, title, inspections, etc. the file would then move to the final underwriting stage. At the time of final approval a “Loan Commitment” letter can then be issued to the buyer to remove the financing contingency on the offer to
Should you have questions about how to get pre-approved or about the mortgage loan
process, please don’t hesitate to contact me. With over 25 years in the mortgage
industry, I have the products and knowledge to make your home buying experience the best it can be!

Angie Ruid
Vice President - Mortgage Lending
Phone (715)634-3055
NMLS#747120