Vilas County Cabin and house

[Wayne Tomlinson]

My daughter in law and her husband have some properties in northern Wisconsin. Two are in Vilas County. They are located near Papoose Lake. There is a small cabin, and an adjacent 8+/- acres with a typical older type farm house.

They also have a much better property near Mercer.

I never did understand why they have them, but my wife loves it up there.

I was just wondering if some one could give me an idea just how bad the market has been hit up there with the gas prices and everything else.

Nothing going on as far as I know, but I have just been wondering.

Any suggestions would be appreciated. I am not looking for an appraisal or anything like that.
Just wondering.

Thanks

Wayne Tomlinson

 

[Tim Schneider]

I try to keep tabs on that market, but my MLS doesn't go that far north. I have noticed many more properties for sale. A recent boom of on the water condo developments has left that part of the market over supplied and prices are down quite a bit for them. On water SFR seems to have held it's price more. The people spending $400K+ for a vacation home don't care as much about gas prices, in my opinion. If they are off water, the price is obviously much lower and potential buyers are probably more affected by gas prices. Those types of properties may have more value declines, and likely longer marketing times. A good realtor website to search listings is: http://www.northwoodsrealty.com/

 

[Wayne Tomlinson]

Thanks, Tim. That about what I thought the situation would be.

Wayne Tomlinson