Market turnaround in popular NW Wisconsin recreation country

Pristine Whitefish Lake, Wascott WI

Pristine Whitefish Lake, Wascott WI

If your goal is to relax at the lake on Memorial Weekend, then unless you’re paying cash, you’ve already waited too long.

We’re now in a market turnaround here in NW Wisconsin lakes and recreation country. Buyers have been actively looking – and buying – since January.  A mild winter has certainly helped, but an improving economy and continued historically low interest rates have resulted in more buyer confidence. Many understand  that now really is the time to buy.

The reality, however, is that buyers must be prepared to act quickly. Looking at dozens of properties over a period of months is no longer a good strategy. Particularly for those properties appropriately priced, buyers will need to recognize the value and be ready to make a decision. Waiting for the  perfect lake home will simply result in disappointment. Too often this year, I’ve had requests to show a lake property, only to learn that there is already an offer on it.

When we go take a look and you like what you see, don’t assume you’ll be able to think things over for two months before you take a second look.  Someone else with similar tastes may have also seen this home or cabin for the bargain it is.  By the time you’ve taken two more months to think it over, their moving van could already be backing up to the front door.

Finally, here’s one last bit of advice.  Pursue perfection, but prioritize your wants and needs.

Now, how do you determine what sort of lake is right for you and what exactly is a bargain?  That will depend on how you want to use the lake. If, for example, you want a level sandy beach for swimming, a large lake for waterskiing or jetskiing, or a small quiet lake that’s better for fishing and watching wildlife, the price tag will be significantly different.  Not everyone wants or can afford that big chalet on a full recreation lake. There are other types of waterfront property that are affordable.

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