House sales, sizes on the rise

In the current state of the local housing market, bigger indeed is being seen as better.
Fort Frances realtors say numbers are on the rise when it comes both to the volume of houses being bought and sold in the area, as well as the amount of square feet more people are leaning towards.
Those in the industry say the reasons range from demographics to the possibility of different priorities when it comes to financial investments in accommodations.
“You have to look at the average age or range of people looking for houses,” said Dave Kircher of Tichborne’s Real Estate here, who’s been in the business for 25 years.
“As the population has slowly become older, what’s happening at the entry level of house buying has changed more dramatically.
“Generally, first-time buyers are paying in the $100,000 range when a few years ago, they were more in the $50,000-$60,000 range,” Kircher noted.
“The houses are getting bigger, too, as more people turn to custom contractors, who build to the buyer’s specifications rather than building the house for no one in particular.”
“Families are smaller than they used to be, but maybe they’re willing to spend more on their houses and not as much on their cottages as they used to,” noted Dan Cousineau, who has 20 years’ experience with Cousineau Brokers Inc. here.
“It’s possible people are also a little more affluent than they used to be,” he added.
Alan Zucchiatti of Rainy Lake Realty here, a 14-year real estate veteran, said Fort Frances hasn’t seen any boom or bust period in its housing market during his career.
“The only real change was when the OSB plant opened up, which did result in a lot of rural sales at the time around Barwick, Emo, and in the Fort Frances rural district,” said Zucchiatti.
“The only way you’d see a big fluctuation in the market is if the mill shut down or another one started up.”
The consensus is Fort Frances presently is a sellers’ market for homes, although Zucchiatti said buyers looking in the low-end price range do have more selection available to them.
Prices range from $35,000 at the low end to $350,000 for lakefront property, with the average described as being in the $140,000 range.
“As little as 10 years ago, the high end was only around $200,000,” noted Zucchiatti.
Buyers also have benefitted from the banks setting current mortgage rates from as low as four percent for short-term deals to seven percent for long-term ones.
Zucchiatti said residential property values also have been steadily climbing since what he described as a “market adjustment” in 1991.
“The situation then was that there was nothing much to buy, so the market prices for those that were being sold went up,” he explained. “Once the prices got too high, people quit buying.”
Local realtors had a variety of tips for prospective home-buyers.
“Buyers should have a very well-defined idea of what their needs are and what they can afford,” said Kircher. “There’s no point in running around looking at $300,000 houses when you can only afford $150,000.”
“Buying is about precaution,” added Zucchiatti. “You probably shouldn’t buy the first one you look at. Also, be looking for things like if the basement leaks and if the wiring is adequate.”
Cousineau said those looking to sell their houses also should not take anything for granted.
“If [the property] looks better to you, it will look better to [home buyers],” he stressed. “Spruce up your yard, get rid of any clutter in and around the house, and get some fresh paint put on wherever needed.
“The outside of the house is very important,” Cousineau remarked. “It’s hard to get them inside if they’re turned off by what they see on the outside.”