For the first time, the median price of homes sold in WI has topped $200,000

[ccjarider]

Originally Posted by augiedogie

Not true. We shopped for a house in Antigo, and they were selling as fast as they are listed. So we shopped in New London. Houses were also selling fast there,but we found one and will be closing in a few weeks.

I am assuming you are saying "not true" to my comment about potential for maximizing long term appreciation outside major population centers.

I do not think your experience buying in market today has ANY reflection as to whether the investment is good long term (>10yrs). Meaning it makes you significant $. It may or it may not and I hope yours makes you some $.

I am familiar with vacation areas where homes were selling for $500-600K in 2008 when it was easy for anyone to get loan $. The same homes today sell for $300-400K. And these are considered good times! My point is - while vacation areas CAN be rewarding, it must be accepted that they are higher risk and can be fickle.

Thinking strictly from investment standpoint: People will always NEED primary housing near their place of employment. No one NEEDS a second home. Don't get me wrong - I own vacation properties but I do so understanding the risks associated with these "investments."

[gardener34]

All the state's surrounding Illinois are going to see a bump up in value I suspect. All the Illinois people are moving for property tax asylum from our new tax happy governor.

[TheEnigmaMachine]

I must admit I was rather taken aback by home prices in rural, unincorporated, Walworth County when I first began my home search. Same story with Kenosha County where I also looked extensively. Still way more bang for my buck than Illinois though, and property taxes are not even close to as Sheriff of Nottingham, but more than I was expecting nonetheless. NWI was the only other place I looked but it was not really to my liking. No offense to anyone that lives there, but it was not really my jam.

Part of me wishes I would of bought the first house I looked at in Twin Lakes, WI when I first started looking, but it was a little too populated for my taste and I know me far too well. I would of ended up dropping coin I don’t really need to spend on a boat and then the money pit would begin.

Edit: That house is still for sale. I’m a little shocked. It’s a really nice pad, and spacious https://www.zillow.com/homedetails/1...81944565_zpid/

[privatedata1]

Home values in Southwestern Wisconsin have devalued here by almost $40,000 since the 1990s.

[privatedata1]

Home values in Southwestern Wisconsin have devalued here by almost $40,000 since the 1990s.


This house sold for $116,000 in the 1990s. In 2016 we paid $81,000. This is not a deal considering the surrounding area.

[foshee]

the problem with the housing boom is it leaves a lot of people out. my husband and I are retired and we are looking for a home. we receive approx. $60,000 in retirement money every year. but can't afford the houses in antigo wi. my husband and I want a house that can be paid for when one of us die. and all the houses that are worthwhile now in antigo wi a mortgage payment would be over $1,000 a month. we are renters now, we want to move because the owners won't do anything to the property, not even when the furnace goes out. we pay for everything to be fixed.:shocked

[foshee]

median income is $45,000 or so but house prices are 140k or more. doesn't make sense. can't pay 1k a month for a mortgage, most people in antigo can't. plus the city is assessing the homes about 48K or less. for tax purposes. that is what the houses are actually worth.

[guidoLaMoto]

^^^ The exact formula varies by jurisdiction, but the assessed value of a property is in the range of 1/3rd its market value, so $48k assessed value is in the right ballpark vs $140k market value....Not meaning to make a political statement, this is the inappropriate basis for the RE fraud case against Trump-- the prosecutor is using the govt assessment values of $X while Trump's loan applications used market values of $3X.

For those trumpeting the big jump in gain in recent yrs of RE values, keep in mind that The Great Recession of '08 forced a loss of 1/3rd our property values at that time. ..The jump in rural property values after the CoViD debacle as urbanites sought refuge in the boonies has passed its peak. That demand is heading down again, softened by the short term supply problem caused by a tripling of lumber prices during the lockdown of '18-'20 that curtailed new housing starts and accrued pent up demand now looking for a release.

In Reedsburg, a dozen new duplex units have been sold before they were even built, and the same for another dozen single family houses around the corner there...And they've broken ground on a new 40 ac subdivision on land lying fallow for decades just off the middle of town. High demand, low supply.

While you may smile at the capital gains of selling your property, you'll be frowning when you go to replace it.

[SkyLark2019]

Still worth it, Wisconsin is awesome!!!!!!