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Northern Wisconsin Real Estate Market Update

Thursday, February 23, 2023   /   by Julie Winter-Paez

Northern Wisconsin Real Estate Market Update

Just wanted to give you a few details, so as we brace ourselves for what we're told is going to be 20 to 22 inches of snow in the next 48 hours. I just wanted to reach out and give you a little bit of what we're seeing up here in the Northwoods. My Monday meeting with my buyer's agents. All they're telling me is it is as competitive if not more than it was last year at this point. Reason being a buyers aren't prepared for it. So last year all we kept hearing on the national media was real estate is hot. This year, the national news media is telling us it's not and that we should all be looking for, short sale list, foreclosure lists etc. And there are many up here in the Northwoods, at least not that I'm aware of right now. And we've always had one or two foreclosures or short sales hit the market. But right now there is no list. And I think that's what's missing with the buyers minds right now is they're not prepared to go to battle when they're going to battle. They're not listening to their real estate advisor when they're telling them they have to be prepared to go to battle. My buyer's agent said over the last weekend, there were a couple properties written down that had five or 10 offers. I myself wrote on one and there were three offers on it on the first day on the market. So psychologically, I think buyers aren't prepared for that and they're not necessarily listening to us. And we tell them the reality of what's happening. I also mastermind with agents around the country every morning and basically they're telling us the same thing around the country. It's not just here. 

So again, despite what the national news media says you have to check in with a local expert so if you're a buyer, please reach out to the name of the game is going to continue to be listings this year. So if you are a seller or if you've been on the fence about selling, it really is still a tremendous time to sell your property. So give us a call. We would love to help you guide you through that process. Just have a cup of coffee and educate you on what's happening with the market right now. 

And as far as the overall northwards and tell you what it felt like spring for a couple of days last week, we even saw weather in the 50 degree range. The whole ice in the Northwoods was an ice. Basically it felt like an ice skating rink out there on your car on your feet no matter what it was. And now everything is done a dusting and we're told that a lot more is coming actually.

So if you're having any questions on anything I would love to help and again, just a little bit of a midweek market update and I will try to give these to you weekly, so you can stay tuned with what's happening up here in the Northwoods. Give us a call if you have specific questions and your particular market segment and if you don't know who I am, I am Julie Paez, the team leader of the JWP Group at REMAX Property Pros and I help people just like you buy, sell, invest and relocate in or out of Northern Wisconsin and I would love to help you as your guide as well. Have a great day and see you soon in the Northwoods.

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