Property investing in Minocqua, Wisconsin
University of Wisconsin--Stout. Research Services
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Real estate investing is a potentially lucrative profession that can assist in building a person’s wealth. This type of investing can be rewarding anywhere, but the purpose of this research is to find out what motivates a person to purchase an investment property in Minocqua, Wisconsin. Economic conditions in the area have vastly improved with 412 jobs added in 2013 and 16,452 people employed as well as a 2.4% increase in wages and even a fairly low cost of living (Walsh, 2013). The economy has been improving and the real estate market has significantly improved as well. “In 2007 only 5,981 listings were sold in comparison to 6,254 in 2013” and sale prices have also increased (Gores, 2014). The median sale price in 2013 was $120,000, which shows a 4.2% increase from the lowest point in 2011 of $115,000 (Gores, 2014). As of May 4, 2014, 21 listings have sold with a median sale price of $125,000, which is also an increase of 4% (Interfacexpress). Additionally the town of Minocqua’s real estate is currently valued at $1.5 billion dollars (Town of Minocqua, 2014). All of this data leads to the conclusion that now would be an ideal time to invest in the Minocqua real estate market, because the economy and real estate market both show substantial improvement.
real estate market