HaywardLakeHomes

62nd Annual Musky Festival

2011-06-19T15:53:00.000-07:00

62nd Annual Musky Festival

This week, in Hayward, WI, we are celebrating our 62nd Musky Festival. If you haven’t experienced one you owe it to yourself to come.

The fun starts on Thursday, the 23rd, with downtown sidewalk sales, the crowning of the Musky Queen, and the wonderful Carnival opens.

Friday starts the hughest Arts & Crafts Show which includes food, refreshments, and live entertainment. There are activities for the kids throughout the day. From 8 PM to Midnight the band RHINO will be playing for the street dance. They perform modern rock, classic pop and popular tunes.

More info tomorrow. But for the full details go to: www.muskyfestival.com .

My favorite are the Hayward Lions Club brats and the fried cheese curd. I hope to see you there!

Tom Berlage, Area North Realty, Hayward, WI
800-344-2300

TURTLE TIME

2011-06-17T03:19:00.000-07:00

This time of year, up here in Hayward, female turtles are out laying their eggs. It is not uncommon to see painted and snapping turtles, on the shoulders of our rural roads, laying their eggs. Often times I will see one of the ladies crossing the road and I am careful to avoid smashing her. I have also been known to stop my car and help one of these creatures cross the road, but only the painted ladies. Snapping turtles I leave alone. Their jaws are very powerful and a couple of years ago one snapped a broom stick I was using to prod her out of my wife's herb garden.

Here is a picture of a recent snapper I found crossing Moose Lake Road near our organic farm:

Isn't she beautiful? "With a face only a mother could love." LOL!

So if you encounter one of our reptilian ladies crossing a road here in northwestern WI please be careful not to run her over so that she may safely lay her eggs. After all, as ugly as these snappers are, they are still a part of our glorious northwoods!
Be well and have a great weekend!
Tom Berlage, Area North Realty, Hayward, WI

One Day, Winter to Spring

2011-04-25T12:33:00.000-07:00

It is amazing how our weather can change so much in one day. Take for example our colius. The first picture was taken Saturday, the day before Easter. The next picture was taken Easter morning.

Link to Real Estate Statistics for Sawyer County for March 2011

2011-04-19T08:37:00.001-07:00

http://www.ranww.org/documents/resources/sawyer.pdf

Remember When? Old Hayward Pictures

2011-04-15T13:25:00.000-07:00

Hayward, WI has seen a lot of changes since I first starting coming up here fifty some years ago. Many of the old attractions have disappeared and new ones have taken their place. Do you remember this fellow?
This was the wooden Indian that stood in front of Lindahl's variety store on Main Street. He had a motion detector installed in the box next to him. When you walked by the sensor would get tripped and the Indian would begin singing
This was the paddle boat known as the Namakagon Queen. She was part of Tony Wise's History Land as was the Indian village. These were located on Co. Hwy B.
What do you remember about old Hayward?

MARCH 2011 SAWYER COUNTY SALES STATISTICS

2011-04-13T12:22:00.000-07:00

     Last month only 10 properties sold in Sawyer County. The median list price was $149,450 and the median sold price was $135,950. The SP/LP ratio was 91%. (Sales Price to List Price ratio.) The median Days On the Market was 158.
     During March 89 residential properties were newly listed witha median list price of $259,900.
     In February 11 properties sold for a median sales price of $189,000 but with a median DOM of 249.

FIVE THINGS TO KNOW BEFORE BUYING A SECOND HOME

2011-04-12T08:14:00.000-07:00

FIVE THINGS TO KNOW BEFORE BUYING A SECOND HOME

1. Now is a good time to buy

In many second-home hot spots, prices are still close to their five-year lows.

2. A second home is a better deal if you can rent it out

You may think you'll keep the retreat all to yourself, but it's still smart to shop as if you're going to rent the place out. That's because a home's rental potential can affect its resale value.

Before you bid on a house, make sure the homeowners association or township allows short-term rentals (many do not). And keep in mind that renters prefer homes with at least one bathroom for every bedroom.

3. Don't count on rental income to pay all your bills

The typical property rents out just 17 weeks a year, says Christine Karpinski of vacation-rental site HomeAway.com. Plus, you'll need to pay for cleaning, maintenance, insurance, and maybe management fees (at least 15% of income).

To get a handle on a property's income potential, ask a management company for a history of rental dates and rates for homes comparable to the one you're considering. If your monthly loan payment is less than or equal to one peak week of rent, you're likely to break even, says Karpinski.

4. Your loan rate depends on how you make use of the house

Lenders have raised standards across the board, but they're giving extra scrutiny to vacation homes. Use the property primarily as a second home and you'll pay about the same mortgage rate as you would on a primary residence, says HSH Associates vice president Keith Gumbinger. If you need rental income to qualify for the loan, however, the house is treated as investment property -- so you'll have to fork over as much as 25% for the down payment and pay up to one percentage point more in interest.

5. There can be Tax benefits

Rent the house out for two weeks or less and you won't have to report a cent of income to the IRS -- and you can still deduct property taxes and mortgage interest.

Stay there for less than two weeks or 10% of rental days, whichever is greater, and you can deduct operating costs -- everything from cleaning fees and maintenance to linens and repairs -- in addition to interest and property tax. Use and rent a lot? You'll have to allocate the write-offs between personal and rental use, which gets tricky, says Rick Shapiro, a CPA in West Hartford, Conn. So talk to your tax guy before you buy.

10 Pieces of Paper You Must Round Up to Buy (or Sell) a Home

2011-04-11T08:01:00.000-07:00

10 Pieces of Paper You Must Round Up to Buy (or Sell) a Home

(From Trulia.com)

Home buyers and -sellers alike often bristle with anticipatory irritation at the mere thought of all the paperwork they expect they’ll have to come up with to do their transaction, above and beyond the basic loan application, contract, disclosures and closing docs. And these worries start way in advance; it’s as though, before they even start visiting open houses, buyers begin to visualize - and dread - spending hours upon hours in the dank catacombs of the Vatican (à la Da Vinci Code) combing through ancient files, seeking some rare and precious artifact documenting their childhood dental history or genealogy.

In some respects, this vision of the experience of obtaining a home loan might not be far off - there are oodles of hoops through which to jump and, occasionally, the loan underwriter requests something sort of bizarre. But more commonly, there’s a pretty finite universe of documents you’ll really need to scrounge up to get your home bought - or sold. Here they are:

1. ID (e.g., driver’s license, state-issued ID, passport). Who must produce it? Buyers and sellers. Why? Uh, hello!?! Lender wants to know that you are who you say you are, buyers, and the title insurance company wants to make sure, sellers, that you actually have the right to sell the home. Funny enough, this commonly goes unrequested until you get to the closing table, when the notary requests to see it before signing, but some mortgage brokers and even some real estate brokers and agents may ask to see it earlier on.

2. Paycheck Stubs. Who must produce it? Any buyer financing their purchase with a mortgage. Sellers, usually only in the case of a short sale. Why? Buyers’ purchase price ranges are determined, in part, by their income. And short sellers have to prove an economic hardship.

3. Two months’ bank account statements. Who must produce it? Buyers getting financing; sellers selling short. Why? Buyers’ lenders now require proof of regular income and proof that the down payment money is your own. Short sellers? It’s all about the hardship.

4. Two years’ W-2 forms or tax returns. Who must produce it? Mortgage-seeking buyers and short selling sellers. Why? Banks want to see a stable, long-term income. They also limit you to claiming as income the amount on which you pay taxes (attn: all business owners!). And in short sales, again, they want documentation of every single facet of your finances.

5. Updated everything. Who must produce it? Buyer/mortgage applicants. Why? Because things change, and because the time period between the first loan application and closing can be many months - even years! - on today’s market. During the time between contract and closing it’s not at all unusual for underwriters to demand buyers produce updated mortgage statements, checks stubs, and such - and its quite common for them to call your office the day before closing to request a last minute verification of employment!

6. Quitclaim deed. Who must produce it? Married buyers purchasing homes they plan to own as separate property. Married sellers selling homes that they own separately, or joint owners selling their interests separately. Why? With the Quitclaim Deed, the other spouse or owner signs any and all interests they even might have had in the property over the the selling owner, making it possible for the title insurer to guarantee clear, undisputed title is being transferred in the sale.

7. Divorce decree. Who must produce it? Buyers and sellers who need to document their solo status or the property-splitting terms of their divorce. Why? Again, to ensure that the seller has the right to sell. Recently single buyers might need to prove that they shouldn’t be held to account for their ex’s separate debts or credit report dings.

8. Gift letters. Who must produce it? Buyers using gift money toward their down payment. Why? The bank wants to be sure the gift came from a relative, and is their own money to give. They also want the relative to confirm in writing that it’s a gift, not a loan - a loan would need to be factored into your debt load.

9. Compliance certificates. Who must produce it? Usually sellers, but sometimes buyers, by contract. Why? Some local governments require various condition requirements be met before the property is transferred, like some cities which require a sewer line be video scoped and repaired, cities which require a checklist of items be met before a certificate of occupancy be issued (usually relevant to brand new and really old homes, the latter of which are often subject to lead paint concerns) and energy conservation ordinances which require low-flow toilets and shower heads to be installed. Ask your real estate pro for advice about which, if any, such ordinances apply in your area.

10. Mortgage statements. Who must produce it? Any seller with a mortgage. Why? the escrow holder or title company will need to use them to order payoff demands from any mortgage holder who has to get paid before the property’s title can be transferred.

By no means is this an exhaustive list. Agents: what documents do you see buyers and sellers struggle to scrounge up during their home buying transactions?

April Events in the Hayward, WI Area

2011-04-08T14:55:00.000-07:00

HAYWARD, WI EVENTS APRIL 2011

• April 16 – Stone Lake Historical Society Spring Dinner in Stone Lake, WI. www.stonelakewi.com. 715-957-0055

• April 16 – Hayward Sports Center 29th Annual Fund Raiser Banquet. 715-634-4791 www.haywardsportscenter.com

• April 21-23 – Winter Greenhouse Bare Roots Days at the Winter Greenhouse in Winter, WI. www.wintergreenhouse.com. 715-266-4963

• April 23 – Easter Egg-Stravaganza Hunt at the Hayward Wesleyan Church. www.haywardwesleyan.org 715-634-4613

• April 23 – Annual All Community Easter Egg Hunt. At the Fresh Water Fishing Hall of Fame. www.freshwater-fishing.org 715-634-4440

• April 27 – Food & Wine Tasting in Spooner, WI. www.spoonerchamber.org 800-367-3306

• April 29-30 – Wild River Rirthday Bash 15 at the Wild River Inn, Hayward. 715-634-2631

• April 30-May 1 – Winter Greenhouse Open House in Winter, WI www.wintergreenhouse.com 715-266-4963

American Birkebeiner Update

2010-02-09T11:49:00.000-08:00

This year, on February 25th through the 27th, more than 7,900 fit, colorfully-clad skiers from all walks of life and from all around the world will descend upon the Hayward-Cable area to participate in the 37th annual American Birkebeiner. This is a cross-country ski race that weaves more than 50 kilometers (30 miles) along a hilly, heavily wooded trail from the Telemark Resort near Cable to the finish line on Main Street in downtown Hayward.

For some, it's serious business. The Birkebeiner is part of the Worldloppet, a circuit of 15 Nordic ski races held on four continents. The race attracts a top cadre of professional racers from 19 countries, including past and present Olympians and those competing in the International Ski Federation standings.

For many hundreds of others, though, it's an annual celebration of personal endurance and outdoor enthusiasm. Since its inception in 1973, 'The Birkie' has grown into the largest cross country ski marathon in the nation. While pros may complete the course in about two hours, legions of weekend warriors soldier on in triple that time. Citizen skiers can compete in the full race or sign up for 23 kilometer Kortelopet or one of our many other events.

You don't even have to clip into skis to join in on the party. An estimated 15,000 to 20,000 spectators line many portions of the route, and it seems all of Hayward is there cheering at the finish line. Equipment demos, citizen sprints, family fun races/tours and other events round out the weekend.

Make sure to attend this world class event. And stop in the Birkie Celebration Tent at the end of the race, behind Peoples Bank. I'll be there selling tickets for food and beverages. The Tent City is operated by three non-profit organizations: Fishings Has No Boundaries, Habitat for Humanity of Sawyer County, and Hayward Lions. I hope you will stop by and support us. See you then!

LOANS FOR "GREEN" HOMES

2010-02-08T08:23:00.000-08:00

LOANS FOR “GREEN” HOMES

According to the New York Times, borrowers looking to make energy upgrades in their homes, that will lower utility bills, along with their environmental impact, may soon find additional options available to them.

Fannie Mae, the government-backed company that sets lending standards for mortgages, said that by this summer, it would unveil incentives for those who use part of their mortgages for energy-related improvements. And EnergyStar, a joint effort of the Department of Energy and the Environmental Protection Agency, is expected to introduce borrower incentives in New York, after running pilot programs in Colorado, Maine and Pennsylvania.

At the same time, the Appraisal Institute, an industry trade group, said it was training members to better quantify the value of energy-efficient homes. It also said that it was developing a certification program for appraisers who want to specialize in energy-efficient homes.

For years, the only option for borrowers was a so-called energy-efficient mortgage from the Federal Housing Administration. Under that program, borrowers who obtained F.H.A.-insured mortgages could qualify for larger loans if they earmarked additional funds for energy-related improvements, and if those upgrades yielded long-term savings. The F.H.A. has varying formulas for determining the maximum amount for energy improvements, but for many homeowners, the limit is 5 percent above what they could have qualified for in a conventional loan.

Energy-efficient mortgages, as with all FHA loans, are marginally more expensive, because borrowers must pay the F.H.A. insurance premium. Borrowers have flocked to F.H.A. loans in the past two years, because the qualifications are less stringent than for non-F.H.A. loans. But just 3,088 borrowers chose energy-efficient mortgages last year, according to the agency.

Some mortgage executives have complained that these loans are more complicated than others, because borrowers have to complete an energy audit of their homes and use an appraiser with expertise in evaluating energy-efficient properties, among other things. But Susan Barber, the senior vice president for Wells Fargo’s new construction and renovation programs, said the approval process was on par with those for other loans.

Either way, borrowers will have more options in the coming months. Amy Bonitanibus, a spokeswoman for Fannie Mae, said the company would introduce a program before the summer begins offering incentives to borrowers who take out conventional loans, and devote some of the funds to energy improvements. Ms. Bonitanibus declined to disclose details about the program. Fannie Mae loans require no mortgage insurance if the borrower makes a down payment of at least 20 percent, so its energy-efficient mortgage program will very likely save borrowers more money.

New York borrowers, meanwhile, will have another option, said Howard Banker, a managing director of the Energy Programs Consortium, a nonprofit group in Washington that determines which lenders may participate in the federal EnergyStar program.

Mr. Banker said EnergyStar would announce before July that one of the nation’s major lenders will offer EnergyStar mortgages. Mr. Banker declined to identify the lender by name, but he said the EnergyStar borrowers would probably receive below-market interest rates or other monetary incentives if they took out bigger loans and spent the extra money on energy upgrades in the home.

EnergyStar borrowers must submit to an energy audit, and demonstrate that the upgrades will cut energy consumption in the home by at least 20 percent.

Homeowners could still face logistical hurdles in obtaining “green” mortgages from lenders, said Curt Jones, the president of Civil1, a civil engineering company in Woodbury, Conn. He said that appraisers sometimes failed to recognize the increased market value of energy-efficient homes.

MORTGAGE RATES SLIGHTLY UP

2010-02-05T06:33:00.000-08:00

Freddie Mac reported yesterday that rates on 30-year fixed mortgages rose slightly. The average rate on a 30-year fixed was 5.01% this week, up from 4.98% last week. At this time last year the average rate for a 30-year fixed was 5.25%.

Mortgage rates fell to a record low of 4.71% early in December, 2009. A Federal Reserve program held the rates at around 5% in order to pump $1.25 trillion into mortgage-back securities to make home buying more affordable by keeping the rates low. This program is scheduled to sunset on March 31st.

Freddie Mac collects mortgage rates from lenders around the country during Monday through Wednesday of each week. However, even within a given day, rates can often fluctuate greatly.

The average rate for a 15 year fixed mortgage rose slightly to 4.40% from 4.39% last week.

Rates on five-year, adjustable-rate mortgages averaged 4.27%, up from 4.25% a week earlier. Rates on one-year, adjustable-rate mortgages dropped to 4.22% from 4.29%.

It is important to remember that these rates do not include any add-on fee commonly known as “points.” A point is 1% of the loan amount. The nationwide fee for loans in a survey conducted by Freddie Mac averaged 0.7 points for a 30-year and 15-year mortgages. It averages 0.6 points for five-year loans and 0.5 for one-year loans.

(Source – Associated Press)

I have been practicing real estate in the greater Hayward area for over 10 years. If you have questions about buying or selling property in Northwestern Wisconsin, would like me to recommend some loan officers to you, or just have some general questions about the area please contact me: Tom@AreaNorthRealty.com
Thx!

Telemark Resort, Cable, WI is on the comeback

2010-02-04T05:46:00.000-08:00

At their January meeting, the Telemark Interval Owners Association (TIOA) Board of Directors and the Telemark Partners, LLC signed a purchase agreement that prepares the way for Telemark Partners acquisition of Telemark Resort in Cable. Since first meeting in May 2009, the two parties have focused on the purchase agreement details and have conducted intensive due diligence research to reach this mutual sale agreement. Telemark Partners, LLC plan to do extensive remodeling of the lodge and property development including the reopening of the Telemark ski and snowboard area over the coming years.

Pending Home Sales Index Up 1% in December

2010-02-02T11:52:00.000-08:00

     The number of people preparing to buy a home rose slightly in December, a positive sign heading into the spring home buying season. The National Association of Realtors reported Tuesday that its seasonally adjusted index of sales agreements rose 1 percent from November to December to a reading of 96.6. That was a bit lower than the 97.1 level analysts expected.

     The index has risen for nine out of the past 10 months as buyers work to take advantage of an $8,000 first-time Home Buyer Tax credit.  The credit was extended to April 30. Lawmakers also added a $6,500 credit for current homeowners.

     The pending Home Sales Index fell 16 percent from October to November, as activity temporarily died down after the first-time buyer credit was extended. The index is now up nearly 11 percent from December 2008. "These swings are masking the underlying trend, which is a broad improvement over year-ago levels," said Lawrence Yun, the Realtors' group chief economist.

     The real estate industry hopes the recovery will continue, and Mike Larson, a real estate analyst with Weiss Research, said the index "sets the stage for a more positive spring selling season." But the industry has to overcome significant challenges, such as high unemployment, rising foreclosures and tight lending standards.

     Larson believes that the result will be that we will most likely just muddle through instead of witness a V-shaped recovery like those that followed previous housing busts.

Source - Associated Press February 2, 2010

Fannie Mae Announces 3.5% Seller Assistance on HomePath Properties

2010-02-02T07:55:00.000-08:00

WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today that people purchasing a Fannie Mae-owned HomePath® property will receive up to 3.5% of the final sales price to be used toward closing cost assistance or their choice of appliances. This offer is available to any owner-occupant who closes on the purchase of a property listed on HomePath.com before May 1, 2010.

"Attracting qualified buyers to the market and reducing the inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover. Many families are taking advantage of the federal homebuyer tax credit to buy a new home so this is a great time for Fannie Mae to offer some additional help," said Terry Edwards, Executive Vice President of Credit Portfolio Management. "Homebuyers have the option to choose between financial assistance toward closing costs or new appliances for their home."

Properties eligible for this incentive are listed on HomePath.com and most listings include detailed property descriptions, photographs, community and school information and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing which offers homebuyers an opportunity to purchase with as little as 3 percent down.

Contact Tom Berlage, Broker Associate, Area North Realty, Hayward, WI for all of your real estate need.
800-344-2300
tom@areanorthrealty.com
715-558-1705

Winter in Hayward - A Great Time to Buy Real Estate

2010-02-01T11:42:00.000-08:00

     Few people realize that during the winter months it is a great time to buy real estate here in Hayward, WI. We have a large inventory, interest rates continue to be low, real estate tax credits are available, and it is a HOT BUYERS' MARKET!! As a Buyer you are in the driver's seat right now. Many of the properties for sale have been on the market for six months or more and the Sellers are anxious to sell. In 2009 real estate values dropped. Granted, not like in the major urban centers like the Twin Cities, Milwaukee, Chicago, Las Vegas, Phoenix or Florida. But the Hayward lake homes have dropped in value by about 10%.
     If you are interested in buying or selling property in the greater Hayward please contact me. I have sold over $40 million in porperties and I Can Change Your Address!!
     Tom Berlage ABR, RRS, M.Div.
     tom@areanorthrealty.com

Fall is a great time to buy in Hayward, WI

2009-10-24T12:29:00.000-07:00

     Few people realize that Fall is a great time to buy real estate in Hayward, WI. Many of the sellers are anxious not to have to take care of their property during the long winter months and thus have a greater incentive to sell their place before the snow flies. Interest rates still remain low, just over 5%, and the inventory is about double what it was two years ago. Some of you buyers may still qualify for the $8,000 credit from the US Government for first time home buyers but you better hurry. According to where the law currently stands, you must close on your new home by the end of November to qualify.
     If you have questions about the Hayward real estate market or about Hayward in general I hope you will contact me.
     Cheers!
     Tom