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Despite a Cool Start to Summer This Year, So Far – 2014 Real Estate Sales on the Chain O’ Lakes are hot, Hot, HOT!

2013 was a strong year on “The Chain” although the number of home sales – 17 transactions – was down from 24 transactions that occurred in 2012 however, the number of transactions last year was more than double what we saw during the recession years .

So let’s talk numbers:

Prior to the start of the recession (2007) there were 15 real estate transactions. Through the recession years of 2008 to 2011, there were 7-8 yearly real estate transactions on “The Chain” each year. Then things began to heat up and in 2012 the mercury shot up through the top of the thermometer with 24 real estate transactions before the end of the year.

This Chain selling season has started out “hot,” in spite of the cooler weather at the start of the summer with 16 transactions so far, year to date. That number is derived from 13 closings and 3 pending sales.

Waupaca Chain O Lakes Real Estate graphic number sold

When analyzing Chain sales over the past several years, clearly the recession for waterfront purchases came to an end in 2012.

And, Chain home sales this year have been spread all across the value spectrum – from well over the million dollar number to a low of $190,000.

At one point in 2011 there were 54 homes for sale on the Chain. Today, there are 40 properties with for sale signs posted (and without pending status the MLS)

Additional analysis also reveals an interesting phenomenon…

When reviewing homes that sold for under $450,000 in 2013, 9 of the 10 sales saw a price that was below, the tax assessed, fair market value. This trend continued in 2014, with 5 out of 6 transactions again below their tax assessed fair market value in the lower price category.

Waupaca Chain O Lakes Real Estate graphic under

In contrast, of the homes that sold for over $450,000, the selling price in 6 out of 7 transactions in 2013 were higher than the tax assessed, fair market value. This trend continued in 2014 with 6 out of 6 homes listed for over $450,000, selling for more than the tax assessed fair market value.

Waupaca Chain O Lakes Real Estate graphic Over

Right now, there are 3 to 4 new homes being built or just finished along Waupaca’s Chain O’ Lakes shores. In some cases, the buyer chose a residence more for its land, location and waterfront access. Only to tear down the existing property and rebuild their new home on the existing lot. In this instance, 3 of the 4 homes under construction now were owned and lived in before deciding on new construction, thereby investing in their properties, so they may enjoy these homes, long term.

If you’re thinking of selling your Chain property, Waterfront and Waupaca Chain O’ Lakes property specialist Steve Huhta and his office of Re/Max Lyons Real Estate were trusted in 2013, with more transaction sides than any other Realtor or real estate company in the area. This team is well informed and always updated as to current sales and marketing trends so they are your most reliable source for current information regarding Chain O’ Lakes real estate transactions.

For a complete list of Waupaca Chain O’ Lakes properties for sale, or a list as well as “Insider” information on homes that have recently sold, visit www.WaupacaWaterFront.com.

You will be glad you did!

2013 Waupaca Chain O’ Lakes Property Sales Report

Waupaca Chain O’ Lakes real estate gems, still being uncovered in this “diamond in the rough”.

Waupaca Chain O’ Lakes Real Estate

2013 was a strong year on “The Chain”, with numerous transactions that reflected satisfaction on behalf of both buyers and sellers.

Although the number of home sales is more than double what we saw during the recession years, some prices are still coming in low, showing that it’s still a great time to be a buyer along Waupaca’s Chain O’ Lakes.

There is an “interesting” difference in the sales along the Chain that took place last year, but it has been happening ever since the start of the recession. When looking at the waterfront homes that sold for under $450,000, 9 of the 11 sales in 2013 saw a sales price that was below the tax-assessed Fair Market Value. In contrast, the homes that sold for over $450,000 had a selling price that, in 6 out of 7 transactions, was actually higher than the tax assessed Fair Market Value. One home in this category sold at 134% above the tax assessed Fair Market Value, compared to homes under $450,000, where the lowest percentage in sales price to tax assessed Fair Market Value is only 72%. This shows that Buyers in the lower bracket are enjoying great deals, while buyers in a higher price bracket reaffirm that values are still holding steady.

Chain Sale Comparison Graphs 2013 3

Below is a chart showing that in 2007 – just before the recession – properties on the Chain were selling for slightly more than assessed value and now, these same type property transactions are getting done at numbers below the assessed value.

Chain Sale Comparison Graphs 2013 2

Two homes along the Chain sold for over $700,000, both to buyers whose main home resides outside the Waupaca area. This is down from the three in 2012 that sold for over $700,000. The highest sale ever on the Chain was for nearly $2,000,000 and that buyer was skillfully represented by Steve Huhta and Re/Max Lyons Real Estate.

Right now, there are four new homes being built along the Chain. Sometimes a buyer will chose a residence more for the land, location, and waterfront access, only to tear down the existing property and rebuild a new home on the lot. In this case, three of four homes have been owned and lived in for several years before their owners chose to rebuild them, another indicator that Chain residents are truly enjoying their properties, long term.

There were no condominium or vacant land sales in 2013 along the Chain O’ Lakes. These are both categories that get very little movement in this current real estate climate.

Real estate was booming in 2007 just before the recession, and in that year the Chain had 15 waterfront sales. There were 18 sales in 2013. Although not as many as the 22 sales in 2012, it still shows that the market has indeed turned around. As the weather warms in the coming months, watch for the real estate market to become hot!

Chain Sale Comparison Graphs 2013

If you’re looking for a home along the Chain, Steve Huhta and Re/Max Lyons Real Estate are involved in more transactions than any other Realtor or real estate company. Constantly up to date with sales and market trends, Steve Huhta is your most reliable source for current information that affects your real estate transaction. For a complete list of Waupaca Chain O’ Lakes properties for sale, or a list of homes that have recently sold, visit www.WaupacaWaterFront.com

2012 A Hot Summer – Property Sales Hot, Hot, Hotter on the Waupaca Chain O’ Lakes

Including properties currently under contract, there are now 20 properties that changed hands so far this year on the Waupaca Chain O’ Lakes.  This compares to only 8 selling last year and 15 sold in 2007, which was the start of the current recession.

Last summer there were a ton of properties for sale on the Chain – peaking at 54 Realtor for sale signs spread around the Chain lakes.  Today, there are 40 for sale signs planted in yards around the Chain.

If you would like to see a complete list of all Waupaca Chain properties for sale and for some expert analysis of Chain properties that have sold this year please visit:  www.WaupacaWaterFront.com

Tax bill “Fair Market Value” is not always accurate when analyzing property sales on the Chain however, it is interesting to note the fact that 9 Chain properties sold under their “Fair Market Value” tax bill value and 6 have been sold at over the tax bill amount.  And, most of the ones that sold at over this number where the higher value homes.

As further evidence of vitality around the Chain, there were three new construction homes that saw owners move into this spring and currently, there are two new homes under construction on Chain lakes:  Miner and Dake Lakes.

Anyway you analyze Chain property sales for this year – it was a “red hot” season for sellers!

Waupaca Real Estate: November 2011 Home Sales Same as Last November

During November 2011, home sale transactions in the Waupaca School District were exactly the same as they were in November of last year – with 17 homes changing ownership hands.  However, the median price of a home sold this year, in the month of November, was down drastically.  Does this mean home prices or values are down drastically?  It is hard to say, with only 17 home transactions in November there are probably not enough transactions to be statistically accurate.  However, one thing is crystal clear, there were more lower priced homes selling this year in November, than the previous year during the same time period..