Steve Huhta Remax

Waupaca Chain News and Info

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Despite a Cool Start to Summer This Year, So Far – 2014 Real Estate Sales on the Chain O’ Lakes are hot, Hot, HOT!

2013 was a strong year on “The Chain” although the number of home sales – 17 transactions – was down from 24 transactions that occurred in 2012 however, the number of transactions last year was more than double what we saw during the recession years .

So let’s talk numbers:

Prior to the start of the recession (2007) there were 15 real estate transactions. Through the recession years of 2008 to 2011, there were 7-8 yearly real estate transactions on “The Chain” each year. Then things began to heat up and in 2012 the mercury shot up through the top of the thermometer with 24 real estate transactions before the end of the year.

This Chain selling season has started out “hot,” in spite of the cooler weather at the start of the summer with 16 transactions so far, year to date. That number is derived from 13 closings and 3 pending sales.

Waupaca Chain O Lakes Real Estate graphic number sold

When analyzing Chain sales over the past several years, clearly the recession for waterfront purchases came to an end in 2012.

And, Chain home sales this year have been spread all across the value spectrum – from well over the million dollar number to a low of $190,000.

At one point in 2011 there were 54 homes for sale on the Chain. Today, there are 40 properties with for sale signs posted (and without pending status the MLS)

Additional analysis also reveals an interesting phenomenon…

When reviewing homes that sold for under $450,000 in 2013, 9 of the 10 sales saw a price that was below, the tax assessed, fair market value. This trend continued in 2014, with 5 out of 6 transactions again below their tax assessed fair market value in the lower price category.

Waupaca Chain O Lakes Real Estate graphic under

In contrast, of the homes that sold for over $450,000, the selling price in 6 out of 7 transactions in 2013 were higher than the tax assessed, fair market value. This trend continued in 2014 with 6 out of 6 homes listed for over $450,000, selling for more than the tax assessed fair market value.

Waupaca Chain O Lakes Real Estate graphic Over

Right now, there are 3 to 4 new homes being built or just finished along Waupaca’s Chain O’ Lakes shores. In some cases, the buyer chose a residence more for its land, location and waterfront access. Only to tear down the existing property and rebuild their new home on the existing lot. In this instance, 3 of the 4 homes under construction now were owned and lived in before deciding on new construction, thereby investing in their properties, so they may enjoy these homes, long term.

If you’re thinking of selling your Chain property, Waterfront and Waupaca Chain O’ Lakes property specialist Steve Huhta and his office of Re/Max Lyons Real Estate were trusted in 2013, with more transaction sides than any other Realtor or real estate company in the area. This team is well informed and always updated as to current sales and marketing trends so they are your most reliable source for current information regarding Chain O’ Lakes real estate transactions.

For a complete list of Waupaca Chain O’ Lakes properties for sale, or a list as well as “Insider” information on homes that have recently sold, visit www.WaupacaWaterFront.com.

You will be glad you did!

Unsolicited Offer Leads to Waupaca Chain Sale

N2445 E MinerThis small – 768 sq ft – 3 seasons cottage built on blocks – sold recently. The cottage has 67 feet of sand lake bottom frontage, 2 bedrooms and a great view looking West across Miner Lake on the Waupaca Chain O’ Lakes.

The property was never listed for sale as the buyer – who was represented by Steve Huhta, REMAX Lyons Real Estate – made an unsolicited offer to the owners of this property.

This slice of land on the Waupaca Chain O’ Lakes had a property tax bill assessment of $3445,000 at the time of the sale

For a complete list of all Waupaca Chain O’ Lakes properties that have sold or are currently for sales please CLICK HERE

Bank Owned Waupaca Chain Home Sells “Quick-O”

N2442 W MINER DRThis Waupaca Chain O’ Lake year-around foreclosed – bank owned – log home sold very quickly.  The property consisted of a quarter of an acre of land with 60 feet of sand lake bottom frontage facing east across Miner Lake.

The home has 3 bedrooms, 1,925 sq ft, 2 full baths and a very large detached garage.

Last listed at$429,900 this log home had an assessed value of $431,000.

Limekiln Lake- Waupaca Chain Home Sold

Waupaca Chain Real Estate Limekiln sale

This completely remodeled Limekiln Lake – Waupaca Chain home sold in August, as Chain property sales continue to be hotter than this summer’s weather.

The property has 60 ft of firm frontage and was initially listed in May of this year.

Listing at $699,000 at the time of the sale – The property was purchased by the sellers back in 2007 and currently has a Fair Market Tax Assessment of $442,000.

As the 19th property sale on the Waupaca Chain O’ Lakes this year – compared to 18 last year – this sales shows that Chain property sales continue to heat up even as water temps stay cool.

For more detailed info on Chain property sales, expert analysis of recent waterfront property sales or for a detailed list of all Chain properties for sale please Click Here.

Kayaks and Stand-up Paddle Boards “Paddling all over the Chain this Summer

Waupaca Chain O Lakes Adventure outfitters 300

You may have noticed… there has been a big increase in the number of kayaks and stand-up paddleboards moving around the Chain this year.

The Waupaca County Post had a nice article on “paddle sports recently …

We are fortunate to have a local store – Adventure Outfitters right on Main St in Waupaca – selling just what you need to start or expand your paddling. And, owner Tim Lencki (pictured here) is an expert!

Skip the big box stores like I did, as Tim and his staff offer lots of advice and knowledge – and they are LOCAL.

Vintage Long Lake Cottage Sells

50101415This furnished 3 bedroom, 1 bath quaint summer cottage on Long lake has 80 ft of frontage, a 1.5 car garage and boat dock.

It was last listed at $450,000 and had an assessed value of $371,400.

For complete information about all Waupaca Chain O’ Lakes home sales please click here

Waupaca Cty Zoning Sues Itself After Board Of Adjustments Grants Chain Variance

From the Waupaca County Post – A vote to allow a kitchen in a Chain O’ Lakes cottage has resulted in litigation. On June 12, the Waupaca County Board of Adjustment voted 3-2 to grant a zoning variance to Archie and Margaret Overby. The Overbys petitioned the board to modify a condition of a 1984 variance that restricted them from installing a kitchen in a second cottage located on the parcel. On July 11, Waupaca County and Ryan Brown, the county zoning director, filed a lawsuit against the Board of Adjustment. The suit seeks to overturn the board’s decision and deny the variance. – See more at: Waupaca County Post

Miner lake Waupaca Chain O Lakes variance 650