2015 Chain Property Sales Report
Steve Huhta Remax

Waupaca Chain News and Info

https://www.facebook.com/WaupacaChainOLakes

Demand for Waupaca Chain O’ Lakes Properties Continues to be Strong!

21 Chain properties had new owner in 2015.

This number is down from the record high 31 Chain properties sold in 2014 but still, way ahead of the recession years – 2008 to 2011 – when only 8 to 10 properties sold each year. And, last year’s number of transactions is ahead of the 15 that sold back in 2007, just before the recession took hold.

So again, Chain property sales are still going strong, as the chart below shows.

Number of Transactions Waupaca Chain o lakes

Several chain homes sold very quickly in 2015 but one finally sold after being on the market since 2009. This property was purchased in 2006 for $850,000 and then put back on the market 2 ½ years later. It finally sold this year (after 6 years on the market) and the final listing price was $550,000.

Six homes sold in less than 5 months this past year so, when Waupaca Chain buyers see good value, they move quickly.

Chain Properties Selling for Under $450,000: Half Still Closing Less Than Assessed Value

Waupaca Chain O Lakes Below 450000 sold

While most Chain houses selling for over $450,000 continue to sell for more than their assessed tax value, almost half the properties selling for under $450,000 are bringing less than their assessed tax value. While this trend was more dramatic a few years back, it is still an interesting trend when compared to how the higher priced properties on the Chain are doing compared to their assessment.

In the end, it appears, Chain buyers are willing to “pay the price” for the better quality water frontage and a larger home?