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