Northwoods, Wisconsin Geographical Foreclosure Comparison
As you can see, as Wall Street Journal has repeatedly stated, we're below the national average. Why? My feeling, and WSJ concurs, is that we are a resort area with a very limited inventory.
Eagle River, Wisconsin sits on the largest inland chain of lakes in the world. It's truly a Northwoods Rhapsody up here and an 1-tank-away-escape for those in Chicago, Milwaukee and Minneapolis. As such, those who are financially secure our taking advantage of rock-bottom prices and rock-bottom interest rates. I truly believe there has never been a better time to buy and many concur and are taking advantage of it.
Chain front, single family lake front homes under $400K are disappearing at an increasing rate. As of this posting we only have 12 homes for sale and the majority of those are in need of major updating. Those that were kept up and currently styled have been picked over and are gone.
It will be interesting to see how this market goes next year for chain-front property.