Home Sales Rebound in the Northwoods

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Home sales in the northwoods are finally rebounding after the recession and housing crisis. In fact, now they are up to pre-recession levels.

But don't let the numbers fool you, home sellers and buyers aren't out of the woods just yet.

Homeowners Pete and Linda Venturi wait for phone calls from people looking to tour their Arbor Vitae home. It's been on the market since September, and so far things have been pretty quiet.

"I think there were two showings. One was not quite big enough, and the other one they said they liked it but they didn't really care for it," explains Pete Venturi of the selling process.

Despite only limited interest in their home, they say they're confident they'll be able to sell once the weather warms up. In fact, home sales in the northwoods were actually higher in 2013 than they were before the recession in 2007.

But while homes may be selling---the Venturi's realtor says there's a catch.

"I think the number of homes that are selling is on the rise. But, I don't think that the prices are going up at this point. Again, it is because of the bank repos that are out there,” said Joan Stuckerberg, broker for Century 21.

That means that while it's good for buyers that prices are low, its not always the best for those trying to sell their homes. A sentiment echoed by the Venturi's.

"It's actually under what I really believe we should get, but we will see what happens depending on what kind of offer comes in,” said Peter.

Waiting and watching. Something homeowners all across our area are doing until their sign says sold.


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