Ozaukee & Washington County Real Estate: April 2009

Find out more about Ozaukee and Washington County real estate, including the cities of Grafton, Belgium, Cedarburg, West Bend, Jackson and Germantown.

St. Joseph Parish Teams with Wisconsin We Care

I think sometimes we all tend to get so wrapped up in the stresses and struggles of everday life that we lose perspective of the smallest blessings that find their way to us.

Military support

When I learned of a service project being done at my church, I knew that I wanted to get the word out so that as many people as possible could assist in getting some much needed items to our military personnel --most of which are things we just assume will be available to us as we need them.

Wisconsin We Care is an organization that accepts food and other items from various businesses and individuals, packages them and then sends them to Wisconsin military units in Irag and Afghanistan. You can find out more information about this organization at wiwecare.com.

St. Joseph Parish in Grafton is setting up a drop-off point in their parking lot on Saturday, May 2, 9:00 am-3:00 pm. Cash donations to help cover shipping will also be accepted. Those checks can be made payable to "Veterans Day Parade of Milwaukee," and should have "Wisconsin We Care" written in the memo line.

Below is a list of items requested by the troops. Those with an asterisk are in short supply.

*White socks

Batteries (AA & AAA

*Canned pasta

*Tuna Kits

Canned beef stew

*Canned fruit

Crackers

Hygiene products (non-aerosol)

Canned cheese spread

*Deodorant

Pringles

*Shaving razors

Canned dips for chips

Non-aerosol shaving cream

Hard candy

Cookies

Snack/power bars

Beef jerky

*Instant coffee

*Powdered drinks

Crossword/Word search puzzles

Playing cards/DVDs/magazines

Items can be dropped off in the parking lot near the main entrance. If you have questions or would like assistance in picking up your items, please call Ann Wissmueller, 262-227-3347.

Thank you for your consideration and support. 

Transform Your Digital Camera With a Magnetic Wide Angle Lens!

Camera

Ever wonder how you could take an adequate picture of a 10x10 bedroom without making it look like you're trying to sell the furniture rather than the space?

I just found out the other day that there is a magnetic wide angle lens you can attach to your digital camera!

Go to magneticlens.com and determine which lens is best for your camera. The lens simply attaches to the front of your camera and VOILA! No more squeezing yourself into the corner of a bedroom to try and get more than just that queen size bed in the photo.

And the cost is reasonable -- only about $40.

Happy picture taking!

Want a Good Laugh? Go Have Lunch with Some Friends

This morning I went to a class offered through my local MLS, which offered some tips on growing your business through the most innovative marketing and technology tools available these days.

I attended the class with three of my co-workers, and we all agreed that we each found something worthwhile from the few hours we invested. After the speaker finished, we looked at each other and concluded it was time for lunch.

stress

 

 

All of us have been feeling pretty high levels of stress lately for various reasons -- complications with short sales, frustrations with deals that just aren't coming together, some challenges at home. We all needed a little pick-me-up, which is why we decided to attend this class. Give us some motivation!

 

 

While I think we all did get at least a little more motivated from the class, it was the lunch that offered the most rejuvenation. Friends have a way of finding humor in just about any situation and helping you forget the weight that's been on your shoulders for the past several days, weeks, or months. They give you the words of support you need and help you find the "fun" in you again.

friends laughing

 

 

They say "laughter is the best medicine." I tend to agree. So the next time you're feeling down, discouraged, or stressed out -- go have lunch with your friends. And laugh and laugh and laugh....

 

Burning Question Answered! Is a Duplex or Multi-Family Dwelling Eligible for the New $8,000 First Time Home Buyer Tax Credit?

Another informative post provided by Gwenn Tanvas. A buyer just asked me this question and I knew I could rely on Gwenn for some helpful information!

Via Gwenn Tanvas - Wisconsin Mortgage Expert - FHA Loans - VA Loans - USDA Rural - (Credit Resotration Expert! ):

Now that the cat is out of the bag, more questions are popping up since my post titled 21 Top Questions Answered on the First Time Home Buyers $8,000 Tax Credit. 

Over the past several days, the question that keeps popping up is "What TYPE of property is covered under the New First Time Home Buyer Tax Credit?" It appears that the confusion lies in the wording "Main Home" or "Single Family Home". So off I went and here is what I found:

The important point is that the home must be a person's main home." Detailed information on the definition of "a main home" can be found within the contents of the IRS Form 5405 which reads:

Main home. Your main home is the one you live in most of the time. It can be a house, houseboat, house trailer, cooperative apartment, condominium, or other type of residence.

Instructions within the form specifically say that the credit is available for any first time home buyer purchasing their "main home".Furthermore, there really is no specific clause that spells out the answer.  Many tax laws are open to interpretation and from what tax professionals have indicated, a small multi-family residence would qualify. The professionals continue to say this would include single family detached homes, attached homes like townhouses and condominiums, manufactured homes and houseboats. 

I understand that if the new home buyer has a plan to live in a portion of the home and rent a portion out, this would reduce the tax credit basis in the portion of the home that the new buyer is occupying as their "Main Home".

Here is an example:Duplex Purchase - Price = $250,000 and buyer lives in half. $125,000 would count toward the tax credit. The credit is 10% of the 1/2 that they are living in as their "Main Home". So 10% of $125,000 would be $12,500. The Tax Credit is capped at $8,000, so the new buyer would be eligible for the maximum $8,000 credit. 

Now if the same buyer decided to buy a four-plex at a price of $350,000 and live in one unit, their "Main Home" would equate to 1/4 of the purchase price, or $87,500.  Now take 10% of the $87,500 which is $8,750, therefore they would be eligible for the maximum $8,000 credit provided the income limitation did not apply.

In order for the buyer to reap the maximum benefit of the tax credit, they would need to find a duplex with a price of $160,000 or more to qualify for the maximum credit.

From what I understand, there are many great multi-family opportunities through out Wisconsin. Once again, I hope this information have been helpful. If I run across more stuff that will help answer questions, I will most certainly share it.....

As always, please, please be sure to consult with your personal tax professional as each and every transaction is unique to your particular situation.

Gwenn Tanvas is a Certified Mortgage Planning Specialists who specializes in Government Programs such as FHA, State and Federal VA and USDA Rural Housing Loans. Visit her website for more information, on-line calculators and a secure on-line application. She is able to assist with transaction throughout the state of Wisconsin. Her offices are located in Appleton, Oshkosh and Green Bay and offers the convenience of one-stop shopping. http://www.WisconsinLoanTips.com or http://www.MortgageProsOfWisconsin.com she can also be reached for comment or to answer questions via email at gwennt@centurytel.net

 

PLEASE READ -- Benefit for Renee Feider Alexander

Prayer

Renee passed away early this morning, Saturday, April 18, 2009. Please keep her and her family in your thoughts and prayers.

 

***************************

Please consider attending a benefit being held for Renee Feider Alexander, who is battling cancer.

Renee, a Belgium native, is 49 years old and currently lives in Kewaskum with her husband, Mike, who has been staying home to care for Renee. This benefit is to help the family with the medical bills they have incurred.

This event is planned for Saturday, May 2, 2009, at Bic's Place, 129 Spring St., Belgium, 11:00 am-10:00 pm.

There will be a brat fry, bake sale, and refreshments. Many raffles, music, poker showdown tables and bing, as well.

Monetary donations are also being accepted. Checks may be made payable to Renee Alexander Benefit and dropped off at any Port Washington State Bank branch or mailed to:

Rhonda Krier
113 Lilac Lane
P.O. Box 174
Belgium, WI  53004

More detailed information will be posted as it becomes available. Thank you for your consideration.

Please keep Renee, and the Feider and Alexander families in your prayers.

So What's Happening in Your Neck of the Woods?

We're over halfway through April already, and here in Ozaukee and Washington counties the sun is shining and the temperatures are rising -- finally! Spring has sprung. And the real estate marke is abuzzing. Here's a quick snapshot of what's happening in Ozaukee and Washington counties. The information here is provided by Multiple Listing Service, Inc.

 

SOLD UNITS APRIL 1-15, 2009

Ozaukee County

Washington County

Single-family

14

23

Two-family

0

1

Condominiums

2

8

 

NUMBER OF UNITS CURRENTLY ON THE MARKET AS OF 4/17/09

Ozaukee County

Washington County

Single-family

576

848

Two-family

16

44

Condominiums

232

390

 

The status "pending" means the property has an accepted offer and all contingencies have been removed. 

PENDING UNITS AS OF 4/17/09

Ozaukee County

Washington County

Single-family

37

63

Two-family

0

1

Condominiums

10

28

 

So what does this mean for you?

First, contrary to what you might be hearing in the media, the real estate market in Ozaukee and Washington county is moving -- no pun intended. If you're in the market to sell your current home, buyers are out there. We typically see an upswing in activity this time of year -- and it's no different this year -- so it's a great time to get on board.Jump in

 

 

 

Second, if you're considering buying a home -- whether it be a first-time purchase, upsizing, or downsizing, this is a great time to jump in, as well. You can see inventory is still high, so you have a lot from which to choose. And did you know that interest rates have been and continue to be at or below 5%???  No one knows how long they'll stay there, so why not jump in now??

 

Uncertainty

 

Feeling a little overwhelmed or confused about everything you're hearing or reading? Not sure what your next step should be? Contact a local realtor for some guidance. We know the market better than anyone.

 

 

 

 

Never Ever, Ever Judge a Book By Its Cover

How often do we judge something or someone based on outside appearances only? I'm guilty of it. Hate to admit that, but it's true.

There's a video that's making its way around the internet these days, and I thought I'd share it with all of you. It's of Susan Boyle, who appeared on Britain's Got Talent. I think this video speaks for itself. Enjoy.

Susan Boyle - Britain's Got Talent

 

A Season of Renewed Trust

What a great Easter weekend this has been!

Easter lily

The Easter Vigil I attended last night was, as always, the most moving and emotional service of the year. The Scripture readings and the music are the perfect blend of reminders of God's love for each of us. It is a time of renewed faith and new beginnings.

The 2-1/2 hours spent in church on this evening help put aside any worries or fears we may have and instead provide reassurance that, as the words of "The First Song of Isaiah" (written by Jack Noble White) say, "Surely, it is  God who saves me; I will trust in him and not be afraid..."

And today, Easter Sunday, was spent with family. There were many laughs as we played games, had conversation, and shared in a meal overflowing with a wide assortment of homemade food. How blessed am I!

It is moments like these that remind us of what really matters.

Yes, we all see and feel the effects of a challengiving economy. Yes, we all encounter difficult transactions. Yes, we all encounter dry spells in our business. Yes, we all face heartache in our personal lives. Yes, we all feel alone and lost sometimes. Yes, we all experience the betrayal of someone we trusted.

But our relationships with our family, our friends, our colleagues, and our social networks continually offer the love and support we each need at any given time. They give us the drive to continue through the darkness and push through to the light.

Trust

 

 

And learning to trust in that higher power -- to really trust -- can only show us that there truly is nothing to fear. All will be okay...

How Do I Know If I Should Make a Price Adjustment on My House?

I recently wrote a brief post about the increase in sales in Ozaukee and Washington counties from February to March of this year. While this is encouraging news, by no means are we "out of the woods" yet. Short sales and foreclosures are still numerous, and inventory is still high. So if you currently have your house on the market or are considering selling, it is especially important in these times that you pay attention to what is happening in your specific market.

teamworkIf you truly want to sell your home, stay positioned ahead of your competition. How do you do that? Work with your real estate agent.

I try to provide my sellers with regular updates on the activity we have (or have not) had on their house. This includes requests for private showings, phone inquiries, and open house visitors. They all have continuous access to an activity report that provides a summary of this information.

Pay attention to the feedback that's given at private showings and open houses. What do potential buyers like about the house? What don't they like? Are the dislikes things you can change or improve (for minimal cost)? Try as best you can to compare your house to your competition objectively and recognize what your house has that theirs doesn't and vice versa. Take note of how long your house has been on the market compared to other homes that are on the market and that recently sold.

If there have been several private showings, traffic through every open house, and high internet traffic but no offer, pay attention to that. If much of the feedback about the house has been positive, but still no offer, pay attention to that. On the flipside, if the overall activity has been sparse, pay attention to that. Recognize that the market can likely not handle the current list price.

Anxiety

One of the most difficult parts of my job is making "that" phone call. You know the one -- when we have to discuss a new strategy, a price adjustment. Providing an up-to-date market analysis is the best way to see on paper where your house is positioned in comparison to your competition. And it shows you what homes comparable to yours have recently sold for.

While there was a time when we could rely on properties that sold as long as a year ago, that is no longer the case. Prices have unfortunately declined at a pace that now makes it necessary to focus on solds from the past few months.

When you can see on paper how prices have declined, it can be a very tough pill to swallow. But if you are committed to selling your house, acknowledging that a price adjustment is probably needed is a necessary part of the home-selling process.

Your real estate agent is there to help you sift through all the information -- to help analyze all the data. Work together to sell your home, not your competition's.

Is That the Light at the End of the Tunnel That I See??

Over the past month, it seemed like the activity at my office was picking up a bit -- open house attendance was up, more showings were being scheduled, more offers were being written on the board, and more listings were being taken.

But it wasn't until I ran the number of sales over the last three months from my local Multiple Listing Service (MLS), that I saw on paper how much things really had improved. Are we starting to make a comeback??

Jan_March sales

 

 

 

 

 

 

 

 

 

 

While it will take some time for market conditions to "get back to normal," I can't help but feel even more optimistic about the spring and summer markets. And it is worth repeating that with so many choices for buyers, interest rates hovering around 5%, and the $8000 credit for 1st-time buyers, right now is an opportune time to purchase a home.

diving in

 

 

So if you've been thinking about buying a home, go ahead...

TAKE THE PLUNGE!