Real Estate Information Archive

Blog

Displaying blog entries 21-30 of 46

Door County Real Estate Market on the RISE!

Monday, October 8, 2012
by Connie Erickson
google map to real pro systems

Door County’s Real Estate Market AND Wisconsin’s Real Estate Market on the RISE!  According to the Wisconsin REALTOR Association, Wisconsin’s housing market remained strong in August.  Home sales increased at a rate of 20.3% over the same month last year.  Median home prices rose 2.9% in August, which continued a real estate trend of a six month home price appreciation!

In Door County, we saw a 5.0% increase in real estate prices in August 2012 compared to August 2011 and the volume of sales increased from 51 sales in 2011 to 58 sales in 2012.

 

Door County Real Estate Sales Increase in July!

Friday, August 24, 2012
by Connie Erickson
google map to real pro systems

 

Door County real estate sales increase in July!

According to the Wisconsin REALTORS Association (WRA), home sales in the State rose 17.3% in July and the median price increased 2.1%.  The stats compare July 2012 sales to July 2011 sales.  The WRA reports a total 6,023 home sales in Wisconsin during this past July compared to 5,133 in July of 2011.  The median price of the homes that sold was $143,000 in July 2012 and $140,000 in 2011.  (1).

In Door County, we saw a large increase in the median price for the July sales in 2012 compared to last July….$199,000 (July 2012) vs. $138,100 (July 2011) and the number of sales this July was up slightly, 29 compared to 27.  (2).

 

(1) Gores, P., Aug. 20, 2012, Milwaukee Journal Sentinel

(2) Door County Multiple Listing Statistics retrieved from the Door County Board of REALTORS on Aug. 24, 2012.

 

New Wisconsin State Laws for Nonconforming Structures

Tuesday, July 31, 2012
by Connie Erickson
google map to real pro systemsThis year Wisconsin adopted changes to laws governing nonconforming structures.  A nonconforming structure is defined as “a dwelling or other building that existed lawfully before the current zoning ordinance was enacted or amended, but that does not conform with one or more of the development regulations in the current zoning ordinance.”  The term “development regulation” is defined as “the part of zoning ordinance that applies to elements including setback, height, lot coverage, and side yard.” (Wis. Stat. SS62.23(7)(hb). 

Previously, repair and maintenance as well as replacement of nonconforming structures was limited by local ordinances.  Because of this, lenders and title companies considered nonconforming structures to be a “higher risk”. 

In 2006, Wisconsin passed a law that allows nonconforming homes and structures to be rebuilt if destroyed by natural disaster.  (2005 Wisconsin Act 112).  In 2009, the State Department of Natural Resources updated the state’s shoreland zoning regulations to allow for unlimited maintenance and repair of nonconforming principal structures and more flexibility regarding expansions depending on how close the structures are located from the water.

This year, Wisconsin passed laws stating the local ordinances may not prohibit or limit the value of maintenance repairs, and remodeling of nonconforming homes and buildings (2011 Wisconsin Act 170) and that nonconforming wet boathouses may be repaired and maintained without limits on the value of such repairs and maintenance.  (2011 Wisconsin Act 167).

For more detailed information, see REALTORS’ Guide to Wisconsin’s New Nonconforming Structures Laws by Tom Larson, Wisconsin Real Estate Magazine, June 2012.

 

Door County Real Estate Taxes and Assessments

Thursday, March 29, 2012
by Connie Erickson
google map to real pro systems

Real Estate Taxes and Assessments

On March 14, 2012 I attended a Door County Board of REALTORS (DCBR) meeting regarding real estate taxes and how the allocation of the assessment is related to real estate prices in this real estate market.

The Door County real estate market consists of 41,000 properties which are assessed for real estate tax purposes.   At the March DCBR meeting, I was informed, upon receipt of their 2011 real estate tax statements, over 400 property owners protested their taxes.  Of the 400 protestors, 235 people physically attended local board of review hearings.  At those hearings, 40% of the taxes were decreased in some capacity.  In speaking with two of the local attorneys who represented several people at the hearings, the individual adjustments were minimal.

By attending the session, I obtained useful information including the “2012 Guide for Property Owners” published by the Wisconsin Department of Revenue that provides information on property assessment and taxation in Wisconsin and the “Property Assessment Appeal Guide for Wisconsin Real Property Owners”. 

The speaker suggested that you should review your real estate taxes every two years with your assessor.  This will help you understand the level at which these assessments are taxed… and you never know, you may even get your real estate taxes reduced!!

 

Changing Door County Commercial Real Estate Trend

Wednesday, February 15, 2012
by Connie Erickson
google map to real pro systems

Door County's commercial real estate trend is changing. Over my 28 years selling Door County real estate, I have had the opportunity to sell 67 Door County businesses.　Over that time, the average market time for a Door County business was 1 to 3 years (according to our Door County MLS statistics covering 550 sq. miles) and there was an average of 30 to 32 business sales per year with the highest years having 41 and 47 commercial sales. Over the past couple of years, commercial sales are down to approximately 20 sales per year with an average time on market of up to 6 years.

This is vital information. If you have a commercial property that you want/need to sell, you need to be prepared.  You need to price competitively to be one of the 20 sales…or you’ll be chasing the market down.  Chasing the market down ultimately will net you less money than pricing realistically now.

 

Door County Market Report for January 2012

Friday, February 3, 2012
by Connie Erickson
google map to real pro systems

Here's a quick look at the over-all market stats for the first month of 2012:

In the first month of 2012, our Door County Multiple Listing Service posted 26 sales. Of the twenty-six, 13 were property sales in Northern Door County. 

These 13 sales shake out like this...

  • Commercial Properties - 1 sale at $150K
     
  • Residential Waterfront - 1 sale at $300K
     
  • Residential Inland - 5 sales at an average sale price of $262K
  • Residential Inland with Water View - 1 sale at $650K
  • There were 5 Vacant Inland (lot) sales.  Of the 5, one was a Vacant Lot with Water View that sold for $290K.  The remaining 4 lots had an average sale price of $46K.

 

Door County Condominium Sale Trend for 2011

Tuesday, January 24, 2012
by Connie Erickson
google map to real pro systems

NORTHERN DOOR COUNTY CONDOMINIUM SALE TREND FOR 2011

In 2011 there were 80 reported sales of residential condominium units located in Northern Door County. Stony Ridge Condominium in Sister Bay led the number of sales per project with its 10 reported sales.  The sale prices at Stony Ridge Condominium in Sister Bay ranged from $81,500 to $119,900.  Northhaven Condominium in Fish Creek came in second with 6 reported sales.  The sale prices at Northhaven Condominium ranged from $190,000 to $280,000.  The highest price condominium unit that sold in Northern Door in 2011 was at Mariners Pointe Condominium in Sister Bay at $809,000.  You can see the sale statistics for all property types and for all of Door County anytime at www.ConnieErickson.com or CLICK HERE TO GO DIRECTLY TO THE STATS!

 

Door County Real Estate Market Trend Report for 2011

Wednesday, January 18, 2012
by Connie Erickson
google map to real pro systems

Each year at this time, I post Door County's annual real estate market statistics on my site.  In reviewing the information, I found it interesting that...

 

...of the 291 inland home sales (county-wide) reported in 2011, the majority of the sales were under $300,000 with the most (63) in the $100,000 to $149,999 range.  Of the 64 waterfront home sales, the majority were under $600,000.  The three top price ranges for residential waterfront were:  $100,000 to $149,999 (7 sales), $300,000 to $349,999 (9 sales), and $550,000 - $599,999 (8 sales).  

There were 91 residential condominium sales, most were in the $100,000 to $299,999 range.  Of the 37 hotel condominium sales, most were below $100,000.

There were 12 vacant waterfront sales...all below $300,000 and 84 vacant inland sales, the majority (48) under $50,000.

There were 27 commercial property sales reported in 2011.  One was over $1,000,000 with the remaining under $400,000 and the majority (22) under $200,000.

You can view up to date Door County real estate market trends and reports on my web site!  If you'd like to discuss them, give me a call.  I LOVE talking real estate!

 

 

 

 

Property Values Decline in Town of Egg Harbor

Monday, October 24, 2011
by Connie Erickson
google map to real pro systemsPending reassessment for the Town of Egg Harbor do to decline in property values.
 
Listen to my latest blog for details!
 

Controversial Zoning Regulation Delayed!

Monday, August 15, 2011
by Connie Erickson
google map to real pro systems

CONTROVERSIAL ZONING REGULATION DELAYED!

The implementation of the controversial zoning changes (NR115) that will affect shoreland property owners (See BIG ZONING CHANGES AFFECT SHORELAND OWNERS!), has been delayed for two years! According to an email I received today from Kay Miller, Door County Zoning Administrator, the Department of Natural Resources requested and was granted an extension to the deadline for counties to write and implement the new shoreland zoning regulations to February 1, 2014. This is GOOD NEWS for waterfront property owners. It gives you a little breathing room before new restrictions are implemented.

Displaying blog entries 21-30 of 46

Syndication

Categories

Archives

Contact Information

Photo of Connie Erickson Real Estate
Connie Erickson
Door County Realty, Shorewest, REALTORS®
10580 Country Walk Dr., #12
Sister Bay WI 54234
920-868-3245
Send an Email

Integrity...Trust...Service...Excellence
These Are Connie Erickson's Core Values

RESULTS WITH INTEGRITY
and
The Best In Personal Service