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Recent Market Statistics for the Northern Wisconsin Counties of Vilas and Oneida Counties.
Most common question that I continue to get is what are the Recent Market Statistics for the Northern Wisconsin Counties of Vilas and Oneida Counties? So, I did some searching and here are some statistics.
In Vilas County last year - up to October 31st - there were 102 off water homes sold to date in 2010 there have been 115 so we are up approx 15%.
In Vilas County last year - up to October 31st - there were 96 waterfront homes sold to date in 2010 there have been 124 so we are up 20% + in this segment
In Oneida County last year - up to October 31st - there were 215 off water homes sold to date and in 2010 there have been 211 so we are down just under 10%
In Oneida County last year - up to October 31st - there were 99 waterfront homes sold to date and in 2010 there have been 137 so we are up about 35% in this segment...
What does this mean .. I am not an expert but this appears to be signs of improvement..The only segment down is the Oneida County off water and that makes sense because Rhinelander is in Oneida County and they did very well with the First Time Homebuyers tax credit so when that ended that market slowed down which is what I think we are seeing... so- some positive signs.. Don't get me wrong people are wanting to negotiate more than ever but there are some buyers out there and they are buying. I have seen several buyers in the last couple weeks make an offer on one property with a "final offer" with a back up property waiting in the wings just in case they don't get their number one pick ... so... know your bottom line..
Now regarding our vacant land market:
Oneida County sold 75 off water parcels so far this year and 43 waterfront parcels.
Oneida County sold 94 off water parcels year to date last year and 41 waterfront parcels.
Vilas County sold 69 off water parcels so far this year and 37 waterfront parcels.
Vilas County sold 81 off water parcels year to date last year and 35 waterfront parcels.
What does this mean for our vacant land market? I think this is still a really tough market and from talking with local contractors and bankers I am hearing this as well. Builders are having a rough time financing new construction loans and buyers are expressing a desire to "deal" with a pre-existing home versus build and perhaps incur higher costs...
So, it continues to be a great time to buy no matter what market you are in!
Let me know when you are ready!!!!
Also - one other quick item for anyone looking to buy bank owned properties... Fannie and Freddie changed the rules a bit if you are a second home buyer in the bank owned market. If it will NOT be your primary residence and you present an offer when the home is new to the MLS there is a 14 day waiting period once it hits the market that requires PRIMARY HOME BUYERS ONLY.. So- if you draft an offer as a second home you will be kicked out and have to resubmit after that 14 day period is up??? Call me with questions and feel free to pass this info on!
So, there are some Recent Market Statistics for the Northern Wisconsin Counties of Vilas and Oneida Counties. Please contact me when you are ready to purchase AND to see some great properties out there.. just click here.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.