Real Estate Dreams

Recently, I had a lady tour my website and fill out a form which said:

“To be honest, I have no current plans to buy, just like to look and dream!”

That started me thinking about real estate and how it’s uniquely tied to virtually everyone’s dreams. Whether we’re looking for a New York apartment with an additional one hundred square feet or a thousand acres of prime hunting land, nearly everyone has a “real estate dream”.

The interesting thing is that our real estate dreams change as we move through life. The pride of ownership in the little starter home begins to dim as children arrive and we feel cramped. At that point, our dream property may just be something with 3 bedrooms, 2 baths and a fenced yard for the family pet. As time progresses the real estate dream continues to mature and maybe a house on the lake or a hunting property is the current goal. Retirement often brings downsizing and the house on the lake may become the permanent residence with the family home being put on the market. And so it goes. Changes occur throughout our life, but one of the things that remain constant is the real estate dream.

The great thing about real estate is that when your dream property no longer fits your needs, it is still someone else’s perfect place. I’ve found over the years that no matter how many buyers turn up their noses at a property, there will always be someone that simply loves it! Also, unlike your 10 year old car that was the must-have when you bought it but is worth little today, real estate remains a great investment.

The bottom line is that real estate dreams are what make my chosen profession challenging yet so rewarding. The search for the dream property for some of my clients has taken a year or more and at times the dream has changed over the course of the search. Just as a hunting guide works hard for a client to locate and collect a trophy, I work hard for my loyal clients to find and acquire their trophy property. It’s a long road at times but when it’s finished, it’s very rewarding to be able to share their happiness.

So as I told the lady viewing my website, I think everyone has a dream property so please dream away and if I can be of assistance in the future, just let me know.

“You are never too old to set another goal or to dream a new dream.” -C.S.Lewis

If your real estate dream includes property in southwest Wisconsin, begin your search here: www.Southwest-Wisconsin-Real-Estate.com

By: Jay Frazier

SW Wisconsin Land Sales Update: 4th Quarter Sales Up 12%

The year finished strong with a large number of transactions closing in the 4th quarter.  Total land sales in SW Wisconsin were up 12% compared to the 4th quarter of 2011 with Iowa County realizing the largest sales increase.  Over 1,000 acres changed hands in Iowa County between October 1st and December 31st.  The average sold price-per-acre dropped significantly in conjunction with this big jump in sales for Iowa County (from $3892 in the 3rd quarter down to $3093).  Since the tillable to wooded ratio remained fairly constant it would appear that Iowa County prices are aligning themselves more closely with the rest of SW Wisconsin.  Buyers took advantage of this trend as evidenced by the high number of transactions and acres sold.

Prices were fairly even across the region with an average price per acre of $2546.  However, when comparing this to the average price per acre of the last quarter in 2011, it is down by almost 12%.  This continues the downward trend we saw in the 3rd quarter and was influenced by several factors.  Sellers were quite motivated to close in 2012 due to the uncertainty of capital gains tax changes for the New Year.  Also, buyer demand held fairly steady for properties priced near the current market value.

The land price decline through 2012 taken together with the increase in sales would indicate the land market is still in recovery mode.  With the exception of farmland, average land prices in SW Wisconsin still struggle to make significant gains.  On the positive side, the higher transaction numbers in 2012 helped reduce a lot of excess inventory which clears the way for building stronger buyer demand and higher per acre prices in 2013.

Below is a summary of land sales by county (data from SCWMLS & WiREx):

GRANT	4th   Quarter			LAFAYETTE	4th   Quarter
	2012	2011			2012	2011
# of sales	7	4		# of sales	3	6
total acres sold	335	406		total acres sold	383	864
Avg $/acre	$2,313	$2,921		Avg $/acre	$2,765	$4,283
RICHLAND				SAUK
# of sales	7	10		# of sales	6	5
total acres sold	367	1082		total acres sold	349	127
Avg $/acre	$2,588	$1,941		Avg $/acre	$2,729	$3,175
CRAWFORD				VERNON
# of sales	3	5		# of sales	9	8
total acres sold	216	272		total acres sold	618	417
Avg $/acre	$2,576	$1,846		Avg $/acre	$2,420	$2,544
IOWA				TOTAL for all 7 COUNTIES
# of sales	11	3		# of sales	46	41
total acres sold	1016	145		total acres sold	3284	3313
Avg $/acre	$3,093	$4,328		Avg $/acre	$2,641	$3,005

To learn more about the current land market in Southwest Wisconsin, begin your search here: Southwest-Wisconsin-Real-Estate.com

All data was taken from the SCWMLS & WiREx. Because this article was intended to review the rural land market, properties smaller than 15 acres, residential, and commercial land sales were not included. Acreage breakdown may vary due to land remnants and other factors.

Hunting Land In SW Wisconsin

Hunting of most any type has been a long standing tradition in Wisconsin, but deer hunting especially brings enthusiasts to a fever pitch. Much of southwest Wisconsin is prime whitetail deer habitat, so every November the blaze orange army descends on rural areas to seek out these critters. Hunters and non-hunters alike observe the opening day of the gun hunting season with revered traditions. For those not in the know, beware of planning any special events on this day; deer hunting will be the top priority.

I captured this photo of a whitetail buck with a game camera
a couple weeks ago as he walked by my hunting spot.

The geography of southwest Wisconsin having agricultural fields intertwined with wooded hillsides creates a whitetail utopia. While Wisconsin has preserved over 62,000 acres for public hunting in the southwest portion of the state, it can often feel crowded in those woods. With license sales exceeding 600,000 it’s bound to be difficult to find a place on public lands where you don’t see another hunter during a morning stand.

Another game camera photo captured at night with infrared light.

I take deer hunting pretty seriously as my wife will attest. Bow hunting is a passion of mine and from it I have learned you can vastly improve the quality of your hunt by managing the land specifically for deer. Approximately half of the buyers I work with every year are seeking their own hunting paradise with habitat management in mind. Additionally, they are making a long term investment in farmland and/or timberland while providing a wealth of outdoor opportunities for camaraderie and experiences worthy of mention in any memoir.  Perhaps this facet of the real estate market is fairly small in the grand scheme of things but here in southwest Wisconsin the hunting culture makes a strong impact.

Real Estate is also something I take very seriously. Connecting sellers and buyers to create a successful transaction is a challenge I readily accept, especially when the hills and valleys of SW Wisconsin are at the heart of it.

Whitetail Utopia in Richland County Wisconsin

The southwest Wisconsin hunting land region discussed here covers these counties: Grant County, Crawford County, Vernon County, Richland County, Sauk County, Iowa County, Lafayette County

SW Wisconsin Land Sales Update: 3rd Quarter Sales Up But Prices Slip Slightly

This past summer will long be remembered for the drought that affected much of the country as well as the record high temperatures.  Perhaps this had some effect on land sales; but when studying the numbers for southwest Wisconsin, it doesn’t appear to have had much effect if any.  Last quarter we saw both the number of sales and the price per acre of rural land inch upward.  For 3rd quarter we still have increased sales, but the price per acre slipped about 5% over 2011 prices. It’s interesting to note that prices have declined slightly even since the beginning of this year so we are experiencing a dip in the road to recovery as far as prices go.

Land buyers continue to be much more active this year than last.  Five of the seven counties in this area saw an increase in the number of sales with Grant County leading the way.  Overall land transactions are up 47% for the 3rd quarter compared to the same period last year.

Only Vernon County realized an increase in price per acre for the 3^rd quarter.  The other 6 counties studied experienced a decline in price per acre. An interesting side note to pricing involves the list to sale price ratio.  As the number of sales goes up, so has the list to sale ratio from 89% to 92%.  I think this reflects the willingness of sellers to bring their asking price more in line with current market conditions.  Buyers have spoken loud and clear with their dollars during the first 3 quarters of this year.  They are ready, willing, and able to buy parcels that represent a good value.

Below is a summary of land sales by county (data from SCWMLS & WiREx).

GRANT	3rd Quarter			LAFAYETTE	3rd Quarter
	2012	2011			2012	2011
# of sales	10	1		# of sales	3	2
total acres sold	923	22		total acres sold	99	391
Tillable acres	381	0		Tillable acres	0	302
Wooded acres	492	22		Wooded acres	43	50
Pasture acres	90	0		Pasture acres	49	0
Wetland acres	0	0		Wetland acres	7	0
$/acre	$2,839	$2,954		$/acre	$3,051	$3,519
RICHLAND	3rd Quarter			SAUK	3rd Quarter
	2012	2011			2012	2011
# of sales	5	6		# of sales	5	4
total acres sold	277	822		total acres sold	562	149
Tillable acres	36	380		Tillable acres	145	55
Wooded acres	231	391		Wooded acres	367	92
Pasture acres	10	57		Pasture acres	46	0
Wetland acres	0	0		Wetland acres	5	0
$/acre	$2,580	$2,639		$/acre	$3,200	$3,766
CRAWFORD	3rd Quarter			VERNON	3rd Quarter
	2012	2011			2012	2011
# of sales	3	2		# of sales	4	6
total acres sold	158	242		total acres sold	155	267
Tillable acres	34	55		Tillable acres	40	65
Wooded acres	118	187		Wooded acres	115	191
Pasture acres	0	0		Pasture acres	0	6
Wetland acres	0	0		Wetland acres	0	2
$/acre	$2,185	$2,310		$/acre	$2,900	$2,400
IOWA	3rd Quarter			TOTAL for all 7 COUNTIES	3rd Quarter
	2012	2011			2012	2011
# of sales	4	2		# of sales	34	23
total acres sold	176	340		total acres sold	2350	2233
Tillable acres	49	182		Tillable acres	685	1039
Wooded acres	52	115		Wooded acres	1418	1048
Pasture acres	57	29		Pasture acres	252	92
Wetland acres	18	0		Wetland acres	30	2
$/acre	$3,892	$4,217		Avg $/acre	$2,950	$3,115

 

To learn more about the current land market in Southwest Wisconsin, begin your search here: RuralPropertyPro.com

All data was taken from the SCWMLS & WiREx. Because this article was intended to review the rural land market, properties smaller than 15 acres, residential, and commercial land sales were not included.

SW Wisconsin Land Sales Update: 2nd Qtr Continues Upward Trend

Last quarter we saw both the number of sales and the price per acre of rural land inch upward and that trend continued into the 2^nd quarter this year in southwest Wisconsin. There is still a lot of inventory on the market, but buyers are very active and quickly snap up parcels that represent a good value.

Five of the seven counties in this area saw an increase in the number of sales with Sauk County leading the way. Overall land transactions are up 48% for the 2^nd quarter compared to 2011. Four of the seven counties also realized a price per acre increase during the 2^nd quarter compared to the same time period a year ago. The average price per acre for the whole area increased 3.5% since last year so prices are slowly strengthening.

We can confidently say the market is recovering nicely although it will probably be some time before we return to a market like we saw in 2006. In my own business I am seeing multiple offers as well as shorter days on the market. These are two more characteristics of an improving market.

Below is a summary of land sales by county. (data from SCWMLS)

GRANT	2nd Quarter			LAFAYETTE	2nd Quarter
	2012	2011			2012	2011
# of sales	7	11		# of sales	9	3
total acres sold	615	1337		total acres sold	581	139
Tillable acres	308	516		Tillable acres	294	49
Wooded acres	238	701		Wooded acres	129	30
Pasture acres	50	114		Pasture acres	105	63
Wetland acres	0	0		Wetland acres	43	0
$/acre	$3,417	$2,278		$/acre	$3,961	$3,177
RICHLAND	2nd Quarter			SAUK	2nd Quarter
	2012	2011			2012	2011
# of sales	10	11		# of sales	12	5
total acres sold	786	465		total acres sold	510	163
Tillable acres	207	210		Tillable acres	209	3
Wooded acres	473	148		Wooded acres	251	147
Pasture acres	106	43		Pasture acres	26	10
Wetland acres	0	16		Wetland acres	20	3
$/acre	$1,965	$2,509		$/acre	$3,544	$4,337
CRAWFORD	2nd Quarter			VERNON	2nd Quarter
	2012	2011			2012	2011
# of sales	10	3		# of sales	3	2
total acres sold	1037	120		total acres sold	149	223
Tillable acres	71	40		Tillable acres	0	115
Wooded acres	943	73		Wooded acres	84	56
Pasture acres	19	7		Pasture acres	2	42
Wetland acres	11	1		Wetland acres	3	10
$/acre	$2,288	$2,530		$/acre	$1,960	$1,870
IOWA	2nd Quarter			TOTAL for all           7 COUNTIES	2nd Quarter
	2012	2011			2012	2011
# of sales	7	4		# of sales	58	39
total acres sold	417	345		total acres sold	4095	2792
Tillable acres	232	212		Tillable acres	1321	1145
Wooded acres	152	54		Wooded acres	2270	1209
Pasture acres	24	70		Pasture acres	332	349
Wetland acres	2	0		Wetland acres	79	30
$/acre	$4,146	$3,861		Avg $/acre	$3,040	$2,937

 

To learn more about the current land market, begin your search here:

Southwest-Wisconsin-Real-Estate.com

All data was taken from the SCWMLS. Because this article was intended to review the rural land market, properties smaller than 15 acres (residential lots) and commercial land sales were not included.

 

Jay Frazier – Broker Associate with First Weber Group Realtors

Wisconsin River vs. Chicago River

The Wisconsin River @ the Lone Rock bridge; Lone Rock, WI

The Chicago River
@ the Magnificent Mile
Chicago, IL

This week I had the opportunity (not sure that’s the right word)to visit downtown Chicago for a few days. I stayed at the south end of the Magnificent Mile known for its 460 stores, 275 restaurants, 51 hotels, and a host of sightseeing and entertainment spots. It boasts more than 22 million visitors annually so I was just one of the crowd gawking at the craziness.

While this isn’t somewhere I would normally hang out, I’m working on getting my Accredited Land Consultant (ALC) designation through the Realtors Land Institute and doing so requires taking classes. One part of the curriculum is a 3 day class called Land Investment Analysis which is offered in Chicago. It seems strange to take land classes in the ‘windy city’ but there’s a Realtor building there so that’s where we landed.

The big city was definitely a culture shock but it gave me more of an insight as to why people want to invest in rural property. It’s a big change going from a place where there’s not a stop light within 15 miles to a place where you have to wait for a stoplight to tell you to cross the street. There isn’t any on- street parking so most people park their cars in a ramp (at $30. per day) and walk everywhere but the traffic still appears to be endless. Besides nearly everything costing 40% more than I’m used to, the most irritating thing for me was the incessant around the clock emergency vehicles with sirens and horns blaring. Even at 20 stories up in my motel room, they would still wake me up.  Needless to say, after class on Wednesday I was more than ready to head for Southwest Wisconsin.  After 3 days of looking down at the Chicago River I was very happy to see the Wisconsin River framed by the green hills of the Driftless Area. When I got out of my car I heard birds singing and realized I hadn’t heard a birdsong in almost a week!

I’ve always said that you couldn’t pay me enough to live in a big city and I still haven’t changed my mind. It struck me as I traveled how animal rights activists make a big issue out of not penning up cattle and making sure their chickens are “free range” yet are perfectly happy to pen themselves up in a confined space with millions of other people!

To each their own but personally I’ll take the Wisconsin River any day!

SW Wisconsin Land Sales Update: 1st Qtr Sales and Prices Make A U-Turn

The rural land market seems to have turned the corner and given the numbers for 1st quarter it might be more accurate to say it’s made a U-turn. If you’ve been waiting to buy until the market hits bottom, you may have missed the opportunity.

Total transactions are up 114% compared to the same time period of last year. The mild winter with very little snow cover no doubt played a part in this increase although this continues the trend we noticed in the 4^th quarter of 2011.

One noticeable difference during the 1^st quarter of this year is that the average price per acre increased 10% compared to a year ago. I was involved in several of these transactions that weren’t necessarily arms-length deals and one large cropland* parcel in Lafayette county plays into the mix here. It will be interesting to see if sale prices are still showing an increase at the end of 2^nd quarter. Having said that, I think any increase at all in price-per-acre when you have this many transactions is a sign that the market is past the bottom and on the rise.

*Cropland continues to bring a significantly higher price-per-acre than other types of rural land.

Below is a summary of land sales by county. (data from SCWMLS)

GRANT	1st Quarter			LAFAYETTE	1st Quarter
	2012	2011			2012	2011
# of sales	9	5		# of sales	3	6
total acres sold	705	233		total acres sold	228	358
Tillable acres	272	193		Tillable acres	207	205
Wooded acres	288	16		Wooded acres	21	61
Pasture acres	138	22		Pasture acres	0	97
Wetland acres	1	0		Wetland acres	0	0
$/acre	$3,346	$4,663		$/acre	$6,053	$3,160
RICHLAND	1st Quarter			SAUK	1st Quarter
	2012	2011			2012	2011
# of sales	9	1		# of sales	13	4
total acres sold	610	136		total acres sold	620	121
Tillable acres	151	136		Tillable acres	286	21
Wooded acres	445	0		Wooded acres	290	99
Pasture acres	15	0		Pasture acres	92	17
Wetland acres	0	0		Wetland acres	6	0
$/acre	$2,501	$2,331		$/acre	$3,255	$3,595
CRAWFORD	1st Quarter			VERNON	1st Quarter
	2012	2011			2012	2011
# of sales	2	1		# of sales	3	2
total acres sold	93	79		total acres sold	922	122
Tillable acres	5	25		Tillable acres	642	62
Wooded acres	77	40		Wooded acres	225	56
Pasture acres	2	14		Pasture acres	0	0
Wetland acres	0	0		Wetland acres	0	0
$/acre	$1,947	$2,088		$/acre	$3,857	$2,869
IOWA	1st Quarter
	2012	2011
# of sales	6	2
total acres sold	436	85
Tillable acres	200	63
Wooded acres	168	7
Pasture acres	84	66
Wetland acres	2	0
$/acre	$3,844	$3,725

 

To learn more about the current market, begin your search here: Southwest-Wisconsin-Real-Estate.com

All data was taken from the SCWMLS and did not include residential lots or commercial land sales.

Making The Cut

So you’ve hired an agent that you’re confident is marketing your property to the right type of buyers and together you have

established a reasonable asking price based on current market activity. While good marketing and proper pricing are essential for a sale to happen, it may not be enough in the current market. There is still a lot of inventory out there so buyers sort potential properties. These days that first “possibility” list may include a dozen or more possibilities. Obviously they have to eliminate quite a few before even getting close to making an offer. With so much competition out there, what can you do to make sure your property makes the cut?

In a recent article titled “Presentation: Get Your Land On A Buyer’s Short List”, Alabama land agent Jonathan Goode discusses things you can do to improve your chances of making that short list and even the star list where an offer is made. As he states “you only get one chance to make a first impression” and first impressions play a big part in buyers’ choices when there are so many properties to choose from.

For rural properties some of the things Jonathan recommends are:

• Remove trash, debris, and junk from the entrance.
• Repair and maintain fences, gates, and entrances.
• Mow the grass or bush hog the fields.
• Smooth out ruts in the road.
• Trim trees and bushes to improve the views.
• Clear internal roads and trails for easy passage.
• Make sure water features are easily visible and accessible.
• Pressure wash or put a fresh coat of paint on barns or other structures.
  

  My Polaris Ranger works great for showing rural land.

For most of the properties in Southwest Wisconsin, keeping internal roads and trails clear is a big one. I use a Polaris Ranger to show properties and it definitely puts a damper on the showing if we come across a deadfall that we can’t get around. Rarely will the buyer say “Let’s walk from here. I really want to see the rest.” There are too many other properties available that are “easy” to look at so they move on.

As Jonathan puts it: “A buyer shows up to your property with heightened senses looking for a reason to like your land or cross it off their list. They are going to look very hard at this initial visit. Do everything you can to make sure that first impression is positive and that your property stands out for all of the right reasons. Even the most logical person relies on their gut feelings. Making small improvements and repairs could be just the ticket to giving your property the edge and helping you land the sale.”

You can read the complete article here: http://www.landthink.com/presentation-get-your-land-on-a-buyers-short-list/

Southwest Wisconsin Land Sales Update: 4th Quarter Sales Up 13%

I’ve been feeling this upward shift through the pulse of my daily work these last few months, but often feelings aren’t justified by the numbers. This time is different. The number of rural land sales is up by 13%! Six of the 7 counties increased or held steady in the number of transactions, while Iowa County actually saw a decline in the number of transactions but an increase in price per acre. Richland County continues to see the most action with 10 sales as well as the most acres sold (1,082). The median price per acre continued the trend we’ve seen throughout 2011 with a decline of 4.5% from the previous year’s 4th quarter sold prices. Anytime there was an increase in price per acre, this was due to the large percentage of tillable acreage which saw big gains in 2011 all across the country.

Below is a summary of land sales by county. (data from SCWMLS)

GRANT	4th Quarter			LAFAYETTE	4th Quarter
	2011	2010			2011	2010
# of sales	5	1		# of sales	6	5
total acres sold	411	11.5		total acres sold	865	235
Tillable acres	173	5		Tillable acres	689	159
Wooded acres	177	5		Wooded acres	81	73
Pasture acres	25	0		Pasture acres	67	15
Wetland acres	0	0		Wetland acres	0	0
$/acre	$2,900	$3,500		$/acre	$4,278	$3,575
RICHLAND	4th Quarter			SAUK	4th Quarter
	2011	2010			2011	2010
# of sales	10	7		# of sales	7	7
total acres sold	1082	291		total acres sold	149	302
Tillable acres	283	115		Tillable acres	32	108
Wooded acres	650	148		Wooded acres	72	131
Pasture acres	83	22		Pasture acres	0	3
Wetland acres	23.5	7		Wetland acres	0	0
$/acre	$1,940	$2,572		$/acre	$3,572	$2,833
CRAWFORD	4th Quarter			VERNON	4th Quarter
	2011	2010			2011	2010
# of sales	6	4		# of sales	2	2
total acres sold	284	260		total acres sold	82	143
Tillable acres	15	44		Tillable acres	2	127
Wooded acres	257	174		Wooded acres	80	6.81
Pasture acres	0	40		Pasture acres	0	0
Wetland acres	0	0		Wetland acres	0	0
$/acre	$1,823	$2,662		$/acre	$2,476	$3,713
IOWA	4th Quarter
	2011	2010
# of sales	3	8
total acres sold	145	595
Tillable acres	24	194
Wooded acres	106	231
Pasture acres	15	102
Wetland acres	0	12.5
$/acre	$4,328	$3,476

 

Although land prices are slightly down from 2010 levels, buyer confidence is up. Even these first few weeks of January have been unusually busy. On the four websites that I track the page views of my listings, I have seen a big increase in web traffic through December and January. In this digital age when 88% of all property searches begin on the internet, this is a VERY positive sign that this upward trend will continue in 2012.

To learn more about the current market, begin your search here: Southwest-Wisconsin-Real-Estate.com

All data was taken from the SCWMLS and did not include residential lots or commercial land sales.

Southwest Wisconsin Land Sales Update: Price Per Acre Down 2.2% From 2010 3rd Quarter

Rural Property Pro Land Report

The number of rural land sales dipped slightly during the 3^rd quarter over the same period in 2010. Richland County continues to see the most action with Crawford County following second and Grant County seeing only one transaction for the 3^rd quarter of this year. The median price per acre also slipped slightly from $2557 to $2501. Cropland is the one strong point in the market. Parcels with larger tracts of tillable land sold at a higher price per acre over similar parcels sold a year ago.

Below is a summary of land sales by county. (data from SCWMLS)

Breakdown by County	3rd Quarter
GRANT	2011	2010
# of sales	1	2
total acres sold	22	222
Tillable acres	0	45
Wooded acres	22	169
Pasture acres	0	8
Wetland acres	0	0
Avg $/acre	$2955	$2568
	3rd Quarter
RICHLAND	2011	2010
# of sales	6	6
total acres sold	821	498
Tillable acres	380	170
Wooded acres	391	265
Pasture acres	57	0
Wetland acres	0	61
Avg $/acre	$2640	$2675
	3rd Quarter
CRAWFORD	2011	2010
# of sales	3	3
total acres sold	219	72
Tillable acres	55	22
Wooded acres	157	49
Pasture acres	7	0
Wetland acres	0	0
Avg $/acre	$1910	$2427

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

It might be encouraging to note that rural real estate markets often lag behind those in metro areas. Home sales in Dane County are up by 23% for September. This is the 3^rd month in a row that Dane County has seen an increase in sales over the same month in 2010 so perhaps we’re due for an upswing in the land market as well.

As Jonathan Goode states in his recent article on LandThink, “The flow of the land market is shifting.”

To learn more about the current land market, begin your search here: RuralPropertyPro.com

 

All data was taken from the SCWMLS and did not include residential or commercial land sales.