It was a warm day on Saturday so, the ice fishermen were out in force on Columbia lake – Waupaca Chain O’ Lakes.
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.
This beautiful 4 year old Round Lake home just sold for a second time in December. This 5 Bedroom, 4 Bath home is situated on .62 acres on Round Lake Road and faces south for beautiful views.
This 4600 plus square foot home with 90 feet of sand bottom frontage on Round Lake sold almost immediately after having sold in July 2017.
This property currently has a tax assessment of $1,038,200 and was listed for $1,695,000.
These sellers were represented by Steve Huhta of RE/MAX Lyons Real Estate for both transactions.
How I made my 45 year old furnace a "Smart Furnace" and at the same time got a "Freeze Alarm."
Every winter, as a realtor, I hear of waterfront home owners who have huge water damage caused by heating issues which resulted in their water pipes freezing and breaking while the homeowner was away. And yes, sometimes the damage is huge, resulting in massive headaches and weeks or even months where the house is not usable.
We installed this Ecobee smart thermostat, which connects to our WiFi. This allows the thermostat to send us “notifications” if our home’s temperature drops below a certain trigger point. So yes, you could consider this thermostat a “freeze alarm” for our home.
Our furnace is very old, which probably means it is unreliable. When we go to Phoenix for Christmas this year, this fairly in expensive device will tell us if our old furnace is not up to the challenge of keeping our pipes warm.
This smart thermostat was purchased for $149 and then, Wisconsin Focus on Energy sent us a rebate check for $75 as these units save lots of energy.
Besides being a “freeze alarm,” we have our Ecobee smart thermostat programed with “home” and “away” temperature settings as well as a night time lower the heat setting. And, we can control this high-tech unit from our smart phones and computer.
Friday night we went out for a fish fry with friends, forgot to hit the “away” button on the thermostat so, I punched up the Ecobee phone app and told the unit we were “away” so the app lowered our temperature to 66 (from 69) degrees. As we headed home, we told the Ecobee phone app to pump up the heat to our “home” setting and wa-la, our home was nice and toasty warm when we arrived.
For an extra fee, the Ecobee thermostat can be outfitted with remote sensors that can tell the thermostat when no one is home so, it can automatically lower the temperature to the units preset “away” temperature. We have not installed the sensors – yet.
This unit was easy to install and program. Ya, I did all the work myself, with just one call to the support line.
Waupaca’s Strongwood Log and Timber homes is moving along quickly, on this McCrossen Lake new home
The Peterson Marine building in the foreground here is just finishing up … www.petersonmarine1.com
This Mcrossen Lake 2 bedroom 1 bath year round home with perfect hard sand lake bottom frontage sold in less than 60 days after being listed for $469,900. Obviously chain properties in this price range are going fast!
At the time of the sale this property had a tax assessment of $329,400.
This home sold back in 2012 when it was listed for $349,000.
Seller was represented by Steve Huhta of RE/MAX Lyons Real Estate and the buyer was represented by the same agency.
This property was listed by Steve Huhta & REMAX Lyons Real Estate and our office got it under contract in less than 2 weeks.