Thanks in part to the Wisconsin State Bureau of Aeronautics, Madeline Island is receiving nearly four million dollars worth of gravel. 

The Madeline Island Ferry dock is a beehive of activity, with bargeloads full of gravel for road and sanitation and airport projects being delivered daily.  Every time the crane swings from barge to the giant hopper on the ferry dock, you hear the sound of money being poured onto the Island.

Wisconsin Governor Jim Doyle presented the Town of La Pointe with a check for $1.2 million on August 11.  That portion came from the Bureau of Aeronautics, to pay for 21,500 tons of gravel needed for future airport projects.

The Madeline Island Sanitary District will be using about 2,000 tons.  That leaves nearly 65,000 tons to be used by the Town of La Pointe over the coming decade for road improvements and annual repairs to town roadways.  And the total cost of the gravel will come to $3,651,600.

Ashland County is helping to pay for the gravel, contributing nearly 40% of the required funds.  The County, in turn, received a grant from the Wisconsin Department of Transportation to rebuild Highway H on Madeline Island.

Upcoming road projects will include the re-paving of half of Main Street, Big Bay Road, Middle Road and Black's Shanty Road.  Northwoods Paving of Ashland, Wisconsin, will be the general contractor for the gravel and blacktopping contracts. 

The title of this post sounds so very simple.  Yet this is a concept that seems to elude some sellers.

Nearly two years ago, my office scheduled a visit with a qualified buyer and his family who came to our area to look at property.  The buyers were looking at upper-bracket homes and they had definite ideas about what they were looking for.

I called the listing agent of one home they wanted to see.  The agent rather sheepishly informed me that the seller hadn't given him a key yet and he couldn't provide access to the home's interior until the seller arrived the following week.  I informed him that my buyers were here for a weekend and they wanted to view the home as soon as possible.  The listing agent tried in vain, but he couldn't reach his client. 

I told my buyers they would have to wait perhaps five or six days and maybe make another 300 mile trip back to Madeline Island to see the property.  They were, to put it mildly, displeased.  They walked away from that first home and bought another one just a few miles away, priced at over $750,000.

That day, the seller of the first home missed out on a huge opportunity.  The seller waited nearly two years for a serious buyer to come along again.  And that seller's home recently received an offer considerably lower than if the home had been made available for showing in the first place.

This wasn't the only time I've encountered such a situation.  The story bears repeating.  Make your property available for showing or don't bother to put it on the market.  Buyers (and agents) find it irritating and frustrating when they cannot view a listing that is supposed to be available for purchase. 

On Saturday, July 19th, I attended a real estate auction on Madeline Island.  To my knowledge, this was the first time a Madeline Island residential property had ever been offered at public auction.

The auction of the Campbell estate on Equaysayway Lane seemed more like a social event than a real estate liquidation.  There were approximately seventy people in attendance.  Most turned out to be spectators rather than participants.

From the perspective of some who attended the auction, the result of the bidding was less than spectacular.  The highest bid received for the estate home portion of the property (valued for taxes at $1.2 Million) was just over $600,000.  A separate interior parcel brought a high bid of $72,000.

My understanding is that the family had earlier stipulated a reserve figure which was not met during bidding and therefore the prevailing high bid was not accepted.

There was a lot of public discussion in the town of La Pointe following the auction.  The whole event probably did more to stimulate local dialogue about real estate than any marketing campaign could have achieved.  And there were lessons learned from the auction experience.

• The availability of this property was probably not as widely publicized as a traditional listing would have been, and that certainly may have limited the seller's chances of achieving their desired price.  Without a listing presence on MLS and REALTOR.com, an interested party would have had to learn about the auction by actually visiting the area and noticing one of the signs advertising the upcoming auction, or perhaps by browsing the auction house website.
• There were probably only six or seven bidders present, out of the dozens of folks who attended.  Had the property been given appropriate time for market exposure, it seems likely that more prospective buyers would have stepped forward to express an interest.
• More exposure usually generates more prospective buyers.  More prospective buyers generally results in receiving a higher offering price.

I'm sure the auction house did its best to make the auction a success.  But the less than stellar result seems to have sent a message to Island property owners that a real estate auction may not be the best answer for those hoping to sell a Madeline Island property, especially a high-end estate. 

A friend and client of mine is making a run for United States Senator from Minnesota.

Attorney Priscilla Lord Faris, daughter of retired Minnesota Attorney General and Federal Court Judge Miles Lord, announced her candidacy for U. S. Senate in Minnesota on July 15.  Faris will be opposing incumbent Senator Norm Coleman and DFL-endorsed challenger Al Franken in the Senate race.

Priscilla and her husband Wayne became summer residents on Madeline Island seven years ago.  I'm proud to say I sold them their Madeline Island home.  Priscilla's no rookie when it comes to political involvement.  Her family has a long history of involvement in Minnesota politics.  Among other things, she worked for the campaign of Senator Hubert Humphrey in 1968 and she has served on the Sunfish Lake, Minnesota City Council. 

And on top of that, Priscilla Faris holds a real estate broker's license in both Minnesota and Wisconsin.

I have a great deal of respect and admiration for Priscilla and I wish her well in her endeavors, both personal and political.  Embarking on a third-party campaign is hardly an easy task.  Fortunately, Priscilla Faris has the wisdom and experience that it takes to accomplish her goal.  Her father, Miles Lord, enjoyed a distinguished career as a well-known and much-admired attorney and Federal Judge. 

For more information on Priscilla Faris' campaign for United States Senate, please visit http://uniteminnesota.com/.

The times they are a-changin'..

Reuters News Agency and other sources reported today that Morgan Stanley Investment Bank has decided abruptly to freeze home equity (HELOC) credit lines.  The bank apparently plans to review its outstanding home equity loans on a monthly basis from now on.

Does the term "bait-and-switch" mean anything to you?  If you took out a home equity loan from Morgan Stanley with the idea that you'd be able to tap into your (presumed) home equity, think again.  The good folks at America's second-largest investment bank have decided to pull the rug out from under you.

How many consumers had any idea that their bank could (or would) unilaterally downgrade the value of their home equity after the loan closed?  And how many American households are counting on equity credit lines to help pay household bills?

If you have a home equity line of credit at any bank, you should think twice before relying upon a home equity credit line as a financial parachute.  This week's Morgan Stanley announcement could reverberate throughout the financial community.  And if it does, the resulting domino effect could put a real squeeze on households trying to pay their bills in these challenging economic times. 

Stay tuned.  

VISIT OUR MADELINE ISLAND BLOG

WWW.ACTIVERAIN.COM/BLOGS/MADELINEBROKER

You'll find

• Valuable Real estate information for buyers and sellers 

• Up-to-date information on what's going on in La Pointe Township

• Madeline Island news

• Bayfield, Washburn, Ashland area updates

• Weather information

• Ferry schedule changes

• Island special events and business promotions

• Information on merchant discounts and free events

• Helpful links to websites for private pilots and boaters

• Winter road conditions and ice road reports

plus much more! 

Browse http://activerain.com/blogs/madelinebroker and check it out!

An Alternative Energy Committee has been formed by former Town Chairman Burke Henry, along with Larry Bean and Alan Fischlowitz, to study the feasibility of using wind, solar or other alternate energy sources on Madeline Island.   The committee will research the possible future use of these technologies by individual Island homeowners, as well as investigating community-wide solutions that may employ these technologies.

The committee has received study grant money from the Apostle Islands Foundation and from Wisconsin Focus on Energy.  The first phase of the committee's research was centered around evaluating various locations on the Island as potential wind turbine generation sites.

The Wisconsin Department of Aeronautics is assisting in providing evaluations and data for the program.  The evaluation period is expected to last a full year.

The committee plans an informational presentation to the public on August 7, at 7 pm.  The presentation will be part of this summer's Madeline Island Wilderness Preserve lecture series at the Madeline Island Museum.

It's just a couple of days away!

The upcoming Fourth of July weekend on Madeline Island is one of the most popular Independence Day celebrations in the upper Midwest.  Here's a list of events associated with the upcoming holiday and tips on how to enjoy it to the fullest!

July 2

2 PM and 8 PM: Madeline Island Music Camp "Artist Faculty Concert" at the Madeline Island Clubhouse, with Pianist Jeffrey Cohen, Lucie Robert, Christopher French and Evelina Chao (Evelina is a fellow member of the Twin Cities Musicians' Union, a published author and a violist in the Saint Paul Chamber Orchestra).  Evelina is currently Music Director of the Madeline Island Music Camp.

July 4 

9:45 AM: Parade floats and participants line up at the Madeline Island Marina

10:30 AM: Fourth of July parade begins, followed by an Independence Day ceremony at the Madeline Island Historical Museum, featuring the Madeline Island Community Choir

[NOTE: Bring a folding chair and park yourself on the lawn next to our office, across the street from the Island Store & Grampa Tony's for a great view of the parade!]

NOON: Art Fair and barbecue at the Rec Center on Middle Road (an annual fundraising event for the Art Guild and Gallery)

10 PM: Fireworks in downtown La Pointe, off the Ferry Dock shoreline.

July 5

4 PM and 8 PM: Fry Street String Quartet (with pianist Jeffrey Cohen) at the Madeline Island Clubhouse, presented by the Madeline Island Music Camp

7 PM: Liz Woodworth (keyboard and vocals), performing at the Beach Club courtyard

July 6

7 PM: Madeline Island Radio Hour event at the La Pointe Elementary School, hosted by Marilyn Hartig and presented by Madwood ProMotions.  Tickets will be $10, with youngsters under 12 admitted at no charge.

HERE'S WHERE TO ENJOY THE BEST VIEW OF THE FIREWORKS - You'll find the best and most comfortable vantage point for enjoying the fireworks display off the Beach Club dock and the beach shoreline behind the Madeline Island Realty office at 809 Main Street.  Our office property extends from the middle of the Beach Club dock all the way down to the "Big Bay State Park" directional sign. 

Bring along a blanket or a camp stool and feel free to park yourself on our beach during the fireworks display, compliments of Madeline Island Realty! 

Before the display, you'll find nearby refreshments and fast food at Ed & Marilyn Hartig's famous Island Store, Grampa Tony's Restaurant, Lori's Island Grocery, the Beach Club, Lotta's and the Bell Street Tavern.

Have a safe and enjoyable Fourth of July weekend!

A second home is an affordable luxury.

Discover why a vacation retreat on Lake Superior is the ultimate indulgence! 

Contact Broker Eric Kodner today at 612.670.2539.

© Copyright 2007-2008 Eric Kodner & Madeline Island Realty

If you're a Lake Superior sailor or power boat owner, you'll want to pick up the latest edition of Bonnie Dahl's much-praised "Cruising Guide to Lake Superior".

The newly-available fourth edition includes wilderness anchorages around the "big lake".  And there are over 350 GPS waypoints plotted for sailing and boating enthusiasts.

I still have my trusty second edition and I've always loved this book.  The section on the Apostle Islands is detailed and easy to follow.  The spiral binding lets pages lie flat on a chart table for easy reference.  You'll find harbor maps, wilderness charts, information on marine facilities and navigational aids.  Dahl provides specific information about dockage and navigation hazards, such as gill nets, rock cribs and shoals.

One of my favorite aspects of Dahl's book is the historic information she provides about each destination.  There's also plenty of detailed information on the Ontario side of Lake Superior, for those cruising between Thunder Bay and Sault Ste. Marie.

This book is an absolute must for boaters planning a trip along the shores of Lake Superior!

A second home is an affordable luxury.

Discover why a vacation retreat on Lake Superior is the ultimate indulgence! 

Contact Broker Eric Kodner today at 612.670.2539.

© Copyright 2007-2008 Eric Kodner & Madeline Island Realty

When I lived and worked in Door County, Wisconsin back in the early 1980s, one of the local treats was a slice of Montmorency cherry pie.

This summer, the cherry crop in the Door has been devastated by bad weather.  This year's harvest may produce only one or two percent of last year's crop.

The cherry harvest is a major part of the area economy in Door County, with nearly 400 seasonal harvesting jobs being lost this year.  Wineries and area restaurants will also be affected.  Door Peninsula Winery produces thousands of bottles of cherry wine each season and will likely have to raise prices and import cherries.  Al Johnson's Swedish Restaurant in Sister Bay and the White Gull Inn in Fish Creek both have menu items which feature Door County cherries. 

Orchard owners are likely to apply for Federal Disaster Relief as a result of the huge crop loss.  Most orchard owners in the state do not carry crop loss insurance.

A second home is an affordable luxury.

Discover why a vacation retreat on Lake Superior is the ultimate indulgence! 

© Copyright 2007-2008 Eric Kodner & Madeline Island Realty