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Market Predictions for 2013 in the Northern Wisconsin counties of Oneida and Vilas!
First I believe that 2013 real estate market in the Norhtern WI counties of Vilas and Oneida and/or the surrounding Eagle River WI  area are going to be better than 2012; which ended up exceeding most people’s expectations, for the below reasons:
·        Interest Rates will remain lowJ
·        Inventory will remain low too on average local MLS ( multiple Listing Services ) are down about 22% and there is a 48 month supply of homes out there
·        Home prices may see some gains – minimal – but gains. Corporate is estimating 2-3%
·        Home Equity Lines of credit will be back
·        There will be LESS distressed home sales – which is great for Sellers!
·        The Ability to Pay Rule will take in effect in 2013: http://www.realestate.com/advice/feds-pass-ability-to-pay-mortgage-rule-62935/
·        Live In’s have been a big part of the market and since they have been inactive for the last 3 years there is a “pent up” amount of Buyers here that may want to finally move out on their own.  It is estimated approximately 26 million people have been waiting to purchase or saving.
·        New Household formations had decreased to about 500k last year and generally there are about 1.4 million/year so we are hoping to see an ... more

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