Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.
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
Are you on The Rain? Grow Your Network!