30 year fixed rate mortgages, as of yesterday, are at 3.85%, and 15 year fixed rate mortgages are at 3.1%.

These rates allow more buying power for clients interested in a Door County home. 

In this winter market, offering prices are down a bit more in Door County than they are in the spring because it is perceived there is less activity, less competition among buyers, at this time of year.

My point is, this is opportunity time.  Smart buyers are actively looking for homes, making offers and closing.  I would not mislead you into thinking you can buy ANY house at ANY price because that’s just not the case; deals go together because the seller feels they won and the buyer feels they won--if a seller is realistic about price and motivated to sell the house that YOU happen to like, then you will get that house at a better price now than you  may in the spring when there are more buyers competing for the best houses.

A house is not just a financial investment.  It’s your home, a lifestyle investment for your family—neighborhoods, schools, and a place you make memories.  So, if you find that now is the right time for you, let’s sit down and talk about your needs and wishes and start looking for your new home.

I have a new Door County Facebook page, Door County Bucket List.  At Door County Bucket List I will be posting things to do around the county, some video clips I will shoot about favorite places to shop and things to do, and from time to time a real estate update.  Will you please visit http://www.facebook.com/DoorCountyBucketList and click the "Like" button? Thank you, I appreciate it so very much. Lisa

Thank you for the wonderful memories, support and confidence you have shown me in 2011.  May 2012 open doors for you of new and exciting opportunities, fill your heart with joy and bring you beautiful experiences.  Here's wishing you happiness, health and lots of prosperity in the New Year.

My grandmother used to say, “Best to let sleeping dogs lie”.  That may be true in some cases, but maybe not when it comes to home ownership.  The market has never been so generous for buyers in terms of mortgage interest rates, selection of homes, and seller motivation.  But in this economy, does it make sense? 

A paper titled, “Lessons from over 30 years of Buy vs. Rent decisions”, by Eli Beracha of East Caroline University and Ken Johnson of Florida International University set out to find which makes better financial sense:  to rent or own.  There are definite social benefits to owning a home.  It is the American Dream, home ownership is credited with enhancing wealth, increasing civic pride, improving self esteem, preventing crime, better child development, and better educational outcomes. 

Some believe that, “after setting the holding period to the average American’s stay in a residence, renting (not purchasing), on average those individuals were better off in economic terms to have rented for most of the years of the study”.  For those renters to be better off would depend on them being fiscally disciplined and consistently month-in and month-out always reinvested any residual savings from renting.  The Joint Center for Housing Studies at Harvard University found that people do not actually reinvest savings successfully. 

After much research, both of the professors came to the same conclusion:  NOW is the best time to buy.  That finding may seem to contradict given the crash in the housing market the last couple of years; however rent-to-price ratios seem to be in place along with other fundamental driving that would favor homeownership over renting. 

NAR Real Estate predictions for 2012 

NAR Chief Economist, Lawrence Yun, reported that the housing market is slowly recovering with a predicted 4% increase in sales for 2012. Celia Chen of Moody’s Analytics projects that  sales should increase over 20% in 2012. Will there be an additional loss of consumer confidence?  The next six months will be key in knowing if that prediction holds water.  A study by the University of Michigan studies consumer confidence indicates that consumer confidence has seen some modest improvement in the last few months after taking a dip over the previous months. Another dip in consumer confidence could have an impact on the expected real estate rebound. 

If prices, as predicted, continue to decrease through the first two quarters in 2012 we could see  more homeowners forced into a position of negative equity. In a domino effect, being underwater is one of the reasons  people strategically default on their mortgage payments and if that continues, there will be an increase in the number of foreclosures, thereby causing another setback in consumer confidence.  .

The worst culprit in home fires is upholstered furniture, because it often contains highly flammable polyurethane foam, says a spokesperson for the National Association of State Fire Marshals (NASFM).  The spokesperson further commented that these all-too-common materials provide the fuel for what fire experts call the flashover — the point at which everything in the room simultaneously bursts into flames. With many of today’s homes built with open floor plans and modern building materials like wallboard that can lead to faster fires.

These statistics were first made available in 1977 and  there were 750,000 residential fires, according to the National Fire Protection Association. In 2010, there were roughly half that many, thanks in large part to widespread use of smoke detectors. But, less encouraging was the incredible speed with which home fires can spread, so in today’s homes that represents a major step backward in fire safety.

The next step in home fire safety, a spokesperson for the NASFM said, is to require fire sprinklers in new residential properties. Home builders claim a high cost of installation. The Wichita Eagle reports the national average cost to install sprinklers is $1.60 per square foot of living space.  In a 2,000-square-foot home, that comes out to about $3,200.

Another barrier is public opinion. As Yahoo! reported last year, when given the choice between granite countertops and fire sprinklers, respondents overwhelmingly chose the countertops, that’s according to the National Association of Home Builders.

Worse still, there are only voluntary flammability regulations for upholstered furniture. The NASFM spokesperson said that implementing a nationwide standard would go a long way in protecting consumers from purchasing dangerously flammable furnishings.

Regardless of what state legislators decide, though, it all comes down to vigilance on the part of the homeowner.  So if you are using a live Christmas tree this season, make sure to water it regularily (don’t forget as I always do!), keep an eye on any decorative lighting,  and keep candles away from the tree and any other natural greens in the house.  Make sure your house is equipped with working smoke and carbon monoxide detectos, which may just be on my Christmas gift giving list after watching this Christmas tree “flashover”.

The agent told me, "Your buyer will be wasting their money, the seller's not going to fix one thing".  Another agent, at another property said, "The buyer is wasting their money on a home inspection, this is a new house, there's not a thing wrong with it".

A home buyer hires a tradesman inspector to inspect a home--whether new or a resale--before they finalize the purchase.  The purpose of the inspection is to look for structural, mechanical and safety" related issues with the structure.  The term "defect" is clearly outlined in the offer to purchase.

Why would a seller say, "I won't fix anything".  Well, it may be because the structure is new and they truly believe there are no defects.  A resale seller may believe their home is in perfect condition, or they may feel they have priced the property to account for any maintenance items (big or small) that a buyer may encounter.  Or, maybe, they just don't want to deal with what they perceive as the hassle of repairs.   

You can understand why a buyer would want an inspection--to know of any hidden issues in the house.  And we can understand a seller pricing the house to sell...and if that is the case the agent should make other agents and buyers aware of the seller's position at the time of showing.

An inspection and those items termed either defects of deffered maintenance by the inspector are not a personal assualt on the seller or their maintenance of the property.  And it is not a case of home inspector against the seller.

The inspector is working for the home buyer, trying to make sure that any construction defects are addressed right away, before they turn in to a expensive problem.  Buyers, the home inspection is not a tool to look for every little defect--it does not cover previously viewed peeling paint on the windows or flaws in the flooring.  And if your agent does make you aware that the seller has priced the property for an "as is" sale, understand that you should still have an inspection to know exactly the condition of the property you are buying, but also understand that the seller either does not wish or cannot afford to make any repairs.

The listing agent is working for the seller, and it is our duty to discuss
maintenance items with the seller at the time of  listing, and if these are considered in the eventual listing price of the property we must make potential buyers aware of the sellers position--otherwise we are doing disservice to the seller and looking for a problem down the road.

The inspection is an important part of your home purchase, and can be equally important to you, the seller.  As the seller you will be required to disclose any known defects--the inspection satisfies the duty of the buyer to inspect and learn of any defects you may not be aware of.

The home inspections is, "A Good Thing".  Make it a point to talk with your agent about this important piece of your listing and offer to purchase.

Turkeys on Display  This Len Villano Photography site is a fabulous spot to go when you long for a bit of Door County but can't get here!

Starting Friday, November 25th through Saturday, December 31st; Simon Creek Vineyard & Winery is offering it's biggest sale ever. 25% off all cases of wine, mix or match. That's equal to our wholesale prices. That's like 3 free bottles in each case of 12.

We are open every day, except Thanksgiving Day, 11:00AM to 4:00PM. We also give free winery tours daily @ 2:00PM.

When it rains, most birds head for shelter; the eagle is the only bird that, in order to avoid the rain, starts flying above the clouds... 

An amazing tidbit about the Eagle's eyesight: The eagle can probably identify a rabbit moving almost a mile away. That means that an eagle flying at an altitude of 1000 feet over open country could spot prey over an area of almost 3 square miles from a fixed position. 

No wonder God wants us to spread our wings and soar with eagles. Perhaps our founders knew that one day we as a people and nation would have need for this symbol when the Eagle was chosen as a symbol of our Republic.


God Bless all who share this...and God's blessings this Thanksgiving.

If you plan on a leisurely stroll in the park to walk off your Thanksgiving dinner, wear orange!