Door County Real Estate: How will 2020 be different than 2019?

By
Real Estate Agent with The Kellstrom Ray Agency, Inc. (Est. 1948)
https://activerain.com/droplet/5kS7

Door County Real Estate:

How will 2020 be different than 2019?

 

The Great Recession hit Door County hard (and it wasn't really great, either.  It was horrible).  Like, it hit us really, really hard.  I worked on my first foreclosures and short sales.  We learned what a "BPO" was via robocalls.  Our average time on market to sell a home was over 18 months (and vacant land sales haven't yet recovered--we still have a 3 year surplus).  We had a LOT of listings, but not many sales.  I remember when being an "Elite Agent" or "Top Producer" meant I sold a quarter or a third of what I sold in "non-recession times."  Those times aren't in the very distant past yet, either.

 

But let's take a step back.  Door County is a secondary housing market, for all practical intents and purposes, with the exception of the City of Sturgeon Bay.  Very few people are transferred here for career changes (the exception being mostly the teaching and medical professions) and there is only ONE Door County.  With our over 300 miles of shoreline, year-round silent sports, dark skies initiatives, lighthouses, dining, shopping, orchards, galleries, festivals--we are a year-round destination (and often called a "gas-tank destination").  Most people delighted in the bargains they received during the Great Recession on shore homes, waterfront lots and inland residence.

 

But let's face the facts: in these post-recession times, we are selling more over the past 3 years than I did prior to the Great Recession--with prices up and inventory lower.  The one exception:  multi-million dollar sales are down, but multi-million dollar homes snapped up in recession times were huge bargains (we had waterfront estates and 36,000 square foot homes going for pennies on the dollar).  

 

FACT:  IN 2019, MARINA VIEW CONDOMINIUMS IN

SISTER BAY, WI SET RECORDS FOR INLAND SALES

OF WATER VIEW CONDOMINIUMS

Marina View Condominiums for Sale

 

Still, my opinion is:  we'd better prepare to buckle up, buttercup.  Every presidential election year I have been in this business has brought challenges (not necessarily recessions).  And remember, the Great Recession was brought on by a huge housing bubble that great steps have been taken to avoid by EVERY aspect of the housing industry (and that includes us Realtors, also).  Lenders, appraisers, agents, brokers, the Federal Government---it's a very, very different business than it was in 2008-2009.  And even though Door County didn't really climb out of its recession depths until 2015/2016, we've seen strong and steady growth since.

 

SO.....in the event Chicken Little is correct and the sky DOES fall (a bit) how, will I prepare to market and sell my properties, as well as help my Buyers in an ever-changing global economy?  How will I change direction to help you buy or sell a Door County property?

MaryKay Shumway Sells Door County Properties for SAle

 

In the past five years, I haven't haven't changed my core plan, but I'd like to spend more time on the basics.  More blogging, because MLS language is so limited.  More video.  More time to check for errors and inconsistencies that feed to national sites (!!??!).  More hand-written notes expressing my gratitude to my clients and customers rather than email.  I also took on some listings in the past two years that I should not have---some that had various issues that I knew would bog me down, and they did.  We have a great "rookie" agent that isn't so rookie anymore that is taking referrals from me and learning a ton by taking these listings and getting paid to learn.  I hope to be able to work with her and mentor her more in the future.  And I hope to  find a personal assistant soon that will work solely for me (not shared).  These are goals for my 2020 business plan. 

 

In order to educate my clients and customers in regards to what can be market challenges in 2020, I will point out that the sky is not falling, that the "Great" (not so great) Recession was caused by a number of contributing factors that have hopefully been alleviated, but I will also try to manage expectations, because every year is different, and we do tend to slow down in the secondary market in election years.  In that regard, I would tend to lengthen listing contracts to allow for potential longer times on market and also to watch carefully what is giving us all the biggest bang for our advertising buck.

 

Door County real estate listings and sales are different every year.  I watch our quarterly reports from our Board like a hawk and compare them to the year before (and the year before that).  Life is about change, and there is no "status quo" in any market (real estate market, stock market, even prices in our local supermarkets).  But I'm ready to embrace 2020.

 

Are you ready, also?  Let's work together to discuss how the new year may impact real estate listings and sales and work together to find the best soluctions to market and sell your property OR to find that Door County dream property you've been waiting to buy.  Learn more about my real estate services and listings at moredoorcounty.com

 

Door County Real Estate:

How will 2020 be different than 2019?

 

 

We still have 12+ acres at a great price left over from this 28 acre split.  It's a GREAT time to buy vacant land in Door County.  Search our vacant land listings to learn more at moredoorcounty.com

 

 

 

 

Posted by

All information is deemed reliable as of date of publication and is subject to change without notice.

 

 Thank you for reading!  MaryKay Shumway, ABR®, CRS®, Realtor® loves to laugh and enjoys working with people that love the Door Peninsula.  She is a full-time real estate Broker, mother of two and a senior Broker Associate at the Kellstrom-Ray Agency, Inc. in beautiful Sister Bay, Wisconsin.  She represents listings throughout the Door County Peninsula and also represents many Buyers that want to purchase the perfect property to make Door County a part of their lives.  CONTACT MARYKAY ABOUT YOUR DOOR COUNTY PROPERTY QUESTIONS TODAY.

MaryKay Shumway has a consistent multi-million dollar producer for over thirteen years.  Representing both listing clients and buyer clients full time, MaryKay is also a mother of two and active in the Door County community in the local school district, nonprofit groups and governmental affairs.  A member of the Door County Board of Realtors Honors Society from 2005-2016, the Door County Realtor of the Year 2008, a member of The Real Estate Group's Chairman's Circle in 2010-2015, and an member of the Coldwell Banker International Diamond Society for 2014 & 15.  She has served as President and Vice President of the Door County Board of Realtors  and as a member of its Advocacy Committee.  MaryKay is a top MLS producer and has held the position of top producer at The Kellstrom-Ray Agency, Inc. since 2016.

 

Contact MaryKay.  "As a multi-million dollar producer and senior associate at The Kellstrom-Ray Agency selling Door County real estate, I focus my balance on both  featured listings and representing Buyer Clients looking for the perfect Door County Property.  I turn Door County vacations into Door County traditions by helping you own your own Door County real estate, and I represent exceptional properties in all price points on the Bay of Green Bay, Lake Michigan, and all inland lakes and properties in between. Call, text or e-mail me today."

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Wisconsin Door County
Groups:
POSITIVE ATTITUDE for the Weary Soul
Local Expert
Diary of a Realtor
Advice for Buyers
ActiveRain Contests
Tags:
door county properties for sale door county real estate in 2020
list and sell your door county real estate for 2020
marykay shumway listings and sells door county real estate for 2020
httpwwwmoredoorcountycom

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
624,546

MaryKay Shumway

Door County Wisconsin's Real Estate Expert
BUYING or SELLING a Door County Property? Call Me Today!
*
*
*
*
Spam prevention

Additional Information