Technically it is Spring right? Buyers of this year around home/cottage on Miner lake are looking forward to enjoying spring and summer hopefully sooner than later. This is the third Waupaca Chain O’ Lakes property sale for 2018.
This 2 bedroom 1,032 square foot cottage with a nice 2 car detached garage and nice sandy frontage facing West, didn’t last long. Listed the beginning of March for $500,000 and shortly there after had an accepted offer. At the time of the sale, the property had a combined tax bill assessment of $405,500.
There were two parcels involved in this transaction. The lake house with 65 feet of frontage and a vacant buildable one acre lot across the street.
The buyers were represented by Waterfront Property Specialist Steve Huhta, RE/MAX Lyons Real Estate.
This graph is from a Waupaca O’ Lakes District 2017 survey.
This survey is an interesting read and can be found on the Chain District’s web site at Click Here
Being a Realtor, who has sold lots of properties on the Chain, this graph was very interesting as most people who own property on the Chain, have a long historical connection.
This 3 bedroom 3 bath newly constructed home centrally located, right behind the Wheel House, on the Waupaca Chain’s Columbia Lake has sold.
The property has an interesting history. First listed in 2014 as a cottage, it became a tear down after a fire. It was listed for $375,000 and sold for $355,000 in the same year.
After a new home was construction on this property, which has 74 feet of water frontage, it was listed at 750,000 in late 2017 and sold in the first part of April 2018. The home has 2,084 sq ft of living space with three bedrooms.
The buyers were represented by REMAX Lyons Real Estate.
This spacious 3,096 sq foot home with 4 bedroom, 2 1/2 baths is the first to sell on the Chain O’Lakes in 2018.
This Chain property was first listed for sale way back in March 2014 at $699,900. At the time of the sale it was listed by REMAX Lyons Real Estate for $499,900.
The assessed value of this one is interesting: In 2016 it was assessed for $646,100 but, in 2017 it was tax bill valued at $576,000.
The large 37,897 sq ft lot with 114 feet of water frontage provides a nice private setting, situated on Dake Lake with sunset views to enjoy all summer long.
Shopping “local” is important so when we did an extensive remodel of our waterfront home we had designer extraordinary Lisa Stange from Waupaca’s Stange Furniture come out and help pick the window treatment type and color.
We always hire professional designers to help with remodeling and decorating so everything fits together and matches when the project is completed. Our experience is, “real” professional designers have way more knowledge and expertise, as the result of designer education and experience, than a friend who watched HGTV.
Ya, the table, chair and end tables were purchased from Stange’s too and yes, we had a “professional” advise on that purchase also.
A settlement has been reached, regarding a long and expensive court battle relating to a parking lot on Pleasant Park Land, near the Waupaca Chain O’ Lakes.
See Full Story in the Waupaca County Post – Click here
Peterson Marine finished construction on this nice Hwy 22 building, just past the Waupaca HS, last fall and now they have “Signed” it.
Peterson Marine boat salesperson extraordinaire, Dave Schlatter, said they now have an inventory of Bennington pontoons, which is a rare situation recently.
Have a guess regarding how many boats Corey Peterson and Dave have displayed in this “overflow…” ? Got to Facebook Chain O’ Lakes and post your guess in the comments on this timeline post – You will be surprised once Dave posts the answer
It was 5 degrees this morning and The Dan Wanty Construction crew was hard at work, starting a new Chain home on Highland Drive, Sunset Lake.
This toilet’s water front home owner had the unfortunate experience of a furnace failure while the temperature was well below zero in the Waupaca area this January.
This seasonal property owner was not using the residence at the time and did not have a freeze alarm or WIFI thermostat connected to his smart phone and was not aware that the furnace had failed.
Yes, many of the water pipes, the water heater and toilets froze and cracked.
So, if you are a seasonal property owner or are not home for long periods of time be sure to turn off the water pump and consider having a freeze alarm or WIFI thermostat installed so your toilet doesn’t end up sitting on your deck.
The number of Waupaca Chain O’ Lakes property transactions for 2016 was way – way up compared to 2015 and in 2017 the trend continued. As a result, inventory of Chain properties for sale is way, Way, WAY down. Obviously, 2018, is a great time to be a Chain property seller as buyers are now struggling to find properties that fit their needs/desires and price range. And, many Chain properties that had been on the market for a long period, finally sold over the past 2 years.
As you can see from the chart below, 35 properties on the Waupaca Chain sold last year compared to 21 sales in 2015 and 33 during 2016. And, to put this in even better perspective: back in 2007, the last year before the real estate recession, only 15 Chain properties sold.
This is an amazing number of Chain properties sold for 2017 as again, inventory is very, very low.
At the end of 2017, there are only 16 properties for sale on the Chain which compares to 54 properties listed for sale in the middle of the recession. Normally there would be 32 to 36 Chain properties for sale in the winter months. The new reality: “Chain Inventory is Craze Low”
Today, both Chain buyers and sellers might have the same question: Are prices going up on waterfront properties?
Prior to this year, this was a hard one to answer analytically! But, now yes, prices are moving up for sure:
In mid-2014 a very nice Chain property sold in the lower $800,000 range and then, just sold again in 2016 in the higher $800,000s. At the other end of the value range, a nice year around house on Bass Lake which sold in the mid $200,000 range in 2012 changed owners for in the mid $300,000 range in 2016. In the middle of the Chain price structure: I bought a buyer for a mid 300,000 Chain home in 2015. In 2017 this same home sold for about $100,000 more than these folk bought it for. And, it sold almost immediately after we listed if for sale. Clearly, these sales show “analytically:” prices are moving up, which would be logical, given that inventory is crazy low and the number of transaction is way up.
It is also interest, “analytically,” to look at the number of properties that sold in 2016 and 2017, that were on the market for a very long time. However, a few of these properties – that had been on the market for a long period, sold way under their “fair market” assessed valuation and way under their original listing price.
And, three Chain houses have sold this past year that were priced over $1,000,000. And, one of them, sold twice in 2017.