"Door County Real Estate" by: Kevin Nordahl, REALTOR®
If you have leafed through a Door County Real Estate Guidebook lately you will notice a blinding number of listings in what has become a very thick publication. I often get the comment, “There seem to be so many more listings since last year. Is our market in a slump?” The short answer is ‘no.’ Market times and average sales prices have been steady throughout the past several years despite our national economy. One effect of our competitive real estate market is simply more advertising in these already vast guidebooks in addition to expanded brokerage services in Kewaunee County. If you want to save a tree go online before you visit. Most of the Door County real estate websites have access to Multiple Listing Service (MLS) searches and are an outstanding starting point for most purchasers.
So how do you get involved as a buyer and what should you expect during the course of your transaction? Here are few simple guidelines to start with.
First, get thee to a bank or lending institution. Unless you are fortuitous enough to slap the greenback down yourself at closing you will be of the 90 percentile to begin your shopping experience shopping for money. One important tip is to stay local if you can help it. Local lenders are 1) most familiar with the real estate market 2) equally competitive with interest rates as the larger, out-of-town firms.
Next, select a REALTOR® to assist you. There are over 200 real estate professionals living and working in our market with access to the MLS. They know what is available and will prove invaluable to your search and the progress of your transaction.
Once an agent and you have identified a property and successfully negotiated the terms of your contract, the transaction takes shape. There are several steps that occur in progression before you get to the closing table and many specialists who are involved in every transaction. Enter the Title Agent. The key player to every transaction, the Title Agent searches for clear title; obtains easement language where necessary; often times, works with surveyors, plumbers and your lender; drafts your title insurance policy; works with an attorney in drafting the deed on your new property and is more or less the conductor of the symphony of your transaction.
Appraisers and home inspectors are often your responsibility. During a contingency period in your contract to purchase you will have a certain number of days to achieve results from these characters. Your lender nearly always schedules the appraisal. Call your lender to make sure that happens right away. Appraisers are very busy with refinancing these days. There are a number of local home inspectors available for hire. An agent will suggest several to you.
Our Door County real estate market has an outstanding track record for surviving economic hard times. There are many reasons for this stability; a strong second-home market; low interest rates; diversification of investments from stocks to real estate; the appreciable nature of our amazing location; a desire to turn the, all too familiar, second home into the retirement home base and the list goes on. Countywide real estate sales figures are published quarterly and are available online at www.dcbr.org as well as in the Door County Real Estate Guide and www.doorcountyrealestate.com.
Just look around if you have any doubt as to why property owners in Door County seem proud of their investment: it’s beautiful here. That real estate guidebook is filled with good deals. Best of luck and happy searching. For additional information the Wisconsin REALTORS® Association publishes a very comprehensive Buyer's Guide online. That address is: http://www.wra.org/pdf/consumer_resources/first_timer.pdf
Kevin Nordahl is a life-long resident of Door County, a REALTOR® and a member of the Door County MLS. He is the incoming Door County Board of REALTORS® President for 2003-04 and has been a Sales Consultant at Coldwell Banker Door County Horizons in Fish Creek since 1996. He may be reached online at www.doorcountyrealestate.com or by phone at (920) 493-4004.
Kevin Nordahl is a life-long resident of Door County, a REALTOR® and a member of the Door County MLS. He is the incoming Door County Board of REALTORS® President for 2003-04 and has been a Sales Consultant at Coldwell Banker Door County Horizons in Fish Creek since 1996. He may be reached online at www.doorcountyrealestate.com or by phone at (920) 493-4004.