River Valley Explorer | Chris Schulz's Blog

Twin Cities & Western WI Real Estate Investor Resources

Tue, 01 Jul 2008 13:49:52 -0500

If you're a seasoned or aspiring real estate investor in the Minneapolis - St Paul Twin Cities metro area, Eastern MN or Western WI, you shouldn't miss the * Real Estate Investor Resources * section at www.MyNextNewHome.com. You'll find valuable networking connections and market statistics to aid you with your investing.

Investment Property Search:
Quickly and easily search all available residential single-family and multi-family properties, and register to receive automatic email updates so you're the first to know when that perfect investment opportunity hits the market. You'll also find links to search commercial listings and business opportunities courtesy of "LoopNet - Commercial Real Estate Search" and the "Commercial Investment Multiple Listing Service (CIMLS)"

Market Research from Minneapolis Association of REALTORS® (MAAR):
Read the Weekly Market Activity Report, and view the monthly updates for housing activity in over 205 cities in the metropolitan area at The 100+. The Monthly Market Indicators provides a comprehensive and interactive look at the entire market in one location. The Housing Supply Outlook offers a thorough and detailed look at the current supply of homes for sale and absorption rates by price range, property type and construction status. The Residential Real Estate Activity Report is a definitive annual housing market report featuring sales and price trends, historical data and commentary on the entire Twin Cities and the hundreds of communities within it.

Investor Networking Groups:
Make connections and build your investing team! Get information on networking groups in the area, such as the Western WI Real Estate Exchangers, Minnesota Real Estate Investors Association (MNREIA), Minneapolis Real Estate Investors Association (Mpls REIA), and Twin Cities Real Estate Investors (TC-REI) Meet-Up.

At the Real Estate Investor Resources you'll also find Current Mortgage Rates and a Mortgage Calculator so you can determine the right time to invest. All of this will give you the information to do the research and make informed decisions, putting you in the driver's seat for your investing.

Thinking about investing but not sure if NOW is the right time? Read my blog article 8 Reasons to Invest in 2008. If you're not sure where to begin, Contact Me and I can begin to guide you down the path towards building wealth for you and your family.

Don't take my word for it... Here's what my clients have to say

Tue, 01 Jul 2008 12:54:24 -0500

Your home is typically the largest single investment you will make in your lifetime, and selling it is an monumental decision with many implications for your family and your future. It is important you find the right real estate professional to guide you through this complex process.

The experiences of past clients can be a great indication of the kind of experience you will have when working with a professional to buy or sell a home. Below you will find comments from my past clients, many of whom I have had the pleasure of working with for multiple transactions. I hope this helps you in making your decision of who to choose as your guide though the sale or purchase of your next home.

Please take a moment to look at my Video Profile for a brief introduction to myself and my services, and visit my personal website www.MyNextNewHome.com to find out what your home is worth in today's shifting market and to search all homes available for sale in your area.

R. & B. - Happy Homeowners in Hudson

"We had our home buying experience with Chris Schulz and we'd do it again in a heartbeat! He was punctual, prepared, knowledgeable, courteous, and very helpful in selecting our homes to visit. Chris always had our best interest in mind, which we always appreciate! The whole purchasing process went smoothly while Chris contacted us frequently with updates. I highly recommend Chris Schulz for any of your buying needs - his service and integrity are second to none! Thanks again Chris!"

J. & K. - Sold High and Bought Low

"Chris marketed our property and got it sold within a matter of weeks! Amazing work, especially in today's ‘buyers' market. He helped us find the best place to buy that has gotten us on track to start a new chapter in life. Thank you so much!"

J.L. - Knows what she likes, and likes what she bought!

"Chris was great! He showed great patience with me and looked hard at the homes himself. I believe he gave me honest opinions and insight. I would look to Chris again if I was in the market again to buy or sell."

J.J. - Got it done.

"My house was on the market for 6 months and had not sold. Then I signed on with you and it sold quickly. I can honestly say I would sign on with you again. Good communication, and you explained everything thoroughly. You should open a branch office in La Crosse!"

K.W. - Finally able to move on...

"Chris came as a recommendation from a former real estate agent. I was never disappointed. At first I was concerned because he was new, but his aggressive marketing techniques and attention to the real estate market demands in the area proved to be effective in selling my house over the others in the neighborhood that sat for years on the market. A pleasant plus is Chris's demeanor. You will find him courteous, respectful and caring about your needs. I was new to the home sale process and he kept me well informed."

Thanks for your interest in my real estate services, please contact me anytime if I can put my experience to work for you.

Hudson Lakefront Library - An Investment in Our Future - Vote April 1st

Fri, 21 Mar 2008 09:18:46 -0500

As many of our residents know, the current Hudson Library located in the city municipal building is woefully inadequate. It's easy for everyone to agree upon that. What is more controversial is exactly what we should do about it, and how much it should cost.

The search for a solution began with the possible purchase of a parcel of land near the corner of Carmichael and Vine St, and then construction of a new facility at that site. Property acquisition, construction, and equipment purchase for a new facility was expected to cost approximately $12 milllion, and take up to five years to complete. Although the site is close to the YMCA and is a high-traffic area easily accessed by the rest of the community, a costly land purchase combined with a costly new construction project left this option stalled and the search continued.

It was then discovered the the Nuclear Management Company (NMC) building at the corner of First St and Vine St was soon to be vacated and put up for sale. This unique building is located in the heart of downtown, and overlooks one of Hudson finest assets, the riverfront. The flowing architecture and amazing views, plus the incorporation of many 'green' design and construction principles, make this building a highly attractive and desirable location. No one doubts that it is a beautiful facility, but the question remains, what is the cost and can we afford it?

The current plan for acquisition, conversion and equipment at this site would cost an estimated $9.5 million, or $2.5 million less than a new facility. The Hudson Area Library Foundation estimates that half this cost could be raised from private sources, such as individual philanthropists, organizations, foundations and corporations. This is the same model that was used when Stillwater build their new library. As for the citizens and taxpayers footing the rest of the bill, this plan would add $24 per $100,000 of assessed property value to the taxes; $9 would go toward the purchase, $16 would go toward ongoing operating costs. The residents of the Town of Troy, which is not part of the municipalities operating the library, would pay approximately $6 per $100,000.

Also for consideration is the opportunity cost of taking this building off the tax roll, and the cost of lost tax revenue over time. The NMC building has a tax assessed value of $3,559,100, generating $51,226 in yearly tax revenue (2007 tax report). To this I say that a library is one public service that supports education and growth of the community. It attracts well-educated and ambitious citizens, and supports local programs of all kinds. The library carries these intangible benefits whose benefits far outweigh the loss of any tax revenue.

So the question stands - can we afford this? I'd argue we can't afford to miss this opportunity. Although there is a cost associated with this plan, it is the most affordable plan so far. Besides the cost, there isn't a better location for the new library. This is an investment opportunity of a lifetime; an investment in our community and our future. As the library association says, this plan is Attractive, Available, Accessible, and Affordable. Vote for the Lakefront Library on April 1st, and vote for our future.

For more information about the proposed Hudson Library plan, visit www.LakefrontLibrary.com.

SOLD! Cedar Street Townhome, Baldwin WI 54002

Thu, 06 Mar 2008 21:57:57 -0600

SOLD! Townhome on Cedar Street, Baldwin WI

Larger than the Rest! 2BD, 1BA, One-Level Living, Huge Kitchen, Large Bedrooms, Lot's of Storage, All Appliances Included, Laundry Concealed Out-Of-Sight, Private Porch & Patio, Central-Air, Extra-Large Insulated Garage. Conveniently Located close to Grocery Store, Parks and Library. Only Minutes to I-94 for a Quick Commute. See It Today & Move In Tomorrow!

For more information and a Virtual Tour visit the Featured Properties section at www.MyNextNewHome.com.

Playful As A Puppy,

Tue, 26 Feb 2008 09:22:33 -0600

Meet the newest member of my team of real estate professionals... Sam, the Ivory Labrador Retriever, and he's here to help me sniff out the good deals! (ok, I know that's corny).

Sam the Ivory Lab

Sam is 11 weeks old here, and likes to chew on anything he can find (including my notebook computer as I am trying to type this article!) Technically he's considered a 'yellow' lab, by the American Kennel Club (AKC), but other's refer to the breed as white or ivory, or as a snow lab.

Sliding across the kitchen floor

Sam is a clumsy 26 pounds as pictured here, and will grow to be 70-80 pounds (he has big ole' paws, he'll grow into them eventually). Labs are an energetic breed, this little guy is no exception as he will hardly cooperate and sit still long enough to have his picture taken. Labs do best if they have room to run, but could work for you in a smaller home if exercised often.

Loves playing in the snow and (unfortunately) eating pine cones

"Once known as the "St John's Dogs," the Labrador Retriever is one of the most popular breeds in the United States. Originally from Newfoundland, Canada the Labrador was trained to jump overboard into the icy waters to haul fisherman's nets to shore. Specimens were brought to England in the 1800's by English ships coming from Labrador, where the dog's fine retrieving instincts were honed and developed. One of the best family dogs and canine companions because of their gentle, loving disposition, the highly trainable Labrador also excels in drug detection, as a guide for the blind, and service dog for the disabled. The breed is also an outstanding obedience and field trial competitor." (http://www.dogbreedinfo.com/labrador.htm)

Nap time after a long walk

Think a Labrador Retriever is right for you? Here's a good list of this breed's traits: Labrador Retrievers: What's Good About 'Em, What's Bad About 'Em. You can also check out the info on the American Kennel Club site.

...And if you're interested in seeing Sam's latest 'good deals' visit my website www.MyNextNewHome.com and check out my featured properties for lots of pictures and virtual tours. You can also search for all the properties available in your area, or request a free market analysis for your house and find out what your property is worth in today's market.

Saint Croix Valley Real Estate Investors Networking Group

Wed, 13 Feb 2008 15:58:05 -0600

* * * I am currently looking for a new moderator/organizer for this group due to time constraints on my schedule. Please contact me at Chris@ChrisSchulz.com if you're interested in getting involved. Thanks! * * *

Are you interested in real estate investing but not sure where or how to begin? Perhaps you're a seasoned professional looking for local networking opportunities? Have a property to sell, or looking for an investment opportunity?

Join us at the NEW Saint Croix Valley Real Estate Investors (SCVREI) networking and meetup group and meet fellow Real Estate Buyers, Sellers, Lenders, Property Managers and Investors around western WI and eastern MN.

Come to share ideas and discuss properties on the market, contracts, mortgages, evaluating investment properties, and anything else about land and realty. Bring your business cards, brochures, and property information fliers to pass.

The meeting will begin with discussion and networking, and then we'll have a special guest presenter to talk to the group about investing techniques. We want to locate this meetup in Hudson so it is convenient to River Falls, Somerset, New Richmond, Stillwater, Woodbury and surrounding communities. Your comments and suggestions are welcomed and encouraged.

Visit www.SCVREI.com to see our schedule of events and to join in.

The first meeting will be Thursday, March 6th at 7:00pm in Hudson. We'll announce the exact location as we get closer, it depends on how many people will be there, so please RSVP so we can get a head count.

Why should you invest in real estate, and why should you do it now? Read my blog article 8 Reasons to Invest in Real Estate in 2008. Take action! Now is the time to begin...

Thanks for your interest!

8 Reason to Invest in Real Estate in 2008

Sat, 09 Feb 2008 11:45:11 -0600

"Why should I invest in real estate this year?" Here's eight great reason to do it now...

#1. The Market is LOW!
Prices have been falling for the past year or so, and are down about 10% in some areas. In fact, this is the first time since the great depression when prices have decreased like they are now. Buy low, sell high.

#2. Foreclosures are on the rise.
Homeowners who are falling behind on mortgage payments and banks are foreclosing at an unprecedented rate. The banks are then reselling these properties at a deep discount.

#3. As a buyer, you have options.
Listing inventory levels are very high, giving buyers more houses then ever to choose from. Across the Twin Cities region, there are 10 houses on the market for every one buyer (MAAR Research).

#4. Interest rates are low.
Interest rates are near historic lows, making it more affordable to borrow money, leading to lower payments and allowing a buyer to qualify for a higher-value property.

#5. Mortgage brokers are working hard for your business.
There are fewer transactions taking place in the market, leaving smaller pieces of the pie for each mortgage broker. Competition between mortgage brokers is becoming tougher, resulting in the cream rising to the top, with the ones who were not taking the job seriously leaving the business.

#6. Real estate agents are working hard for your business.
Like mortgage brokers, with fewer transactions taking place in the market, real estate agents are competing more for the business that is out there. The agents who are surviving are the ones providing exceptional customer service to their clients, and the ones who are becoming creative and embracing the changing market.

#7. Many other investors are simply arm-chair investing.
There are lots of buyers out there right now; some can't pull the trigger, and some won't. Many have to sell a current property before they can purchase another one. Others are nervous about the market and are waiting until it turns around to buy something. If you wait that long you'll miss the boat, the good deals are out there right now. Take action!

#8. Because you live in the USA.
The United States is one of the best countries in the world for buying and holding real estate. Mortgage money is readily available to nearly anyone with ok credit and some kind of income, and property ownership rights are well established making real estate a secure investment.

So you decided you want to get started, but now where to begin? Contact Me and I can begin to guide you down the path towards building wealth for you and your family. You can also visit the Real Estate Investor Resources section at www.MyNextNewHome.com where you'll find valuable networking connections and market statistics to aid you with your investing.

"Subject To..." - Who has the final say in if you can buy a house?

Tue, 05 Feb 2008 21:07:19 -0600

"What does it mean when I read a sale is 'subject to bank approval'?" "What is a 'short sale', and how will it affect my home purchase?" "How soon can I close if I see the sale is 'subject to lender's approval of a short sale'?"

As you might know, a "short sale" is becoming more and more common and means the homeowners are selling the house for less than what they owe on it. For example, a homeowner might owe the bank $200,000 on the house, but can only sell it for $180,000. In this case, their bank has two options when they sell it for $180,000 - it can either force them to pay thedifference of $20,000, or the bank can just write it off as a business loss and the sellers are off the hook for the money. The bank makes the decision on how much of the debt it will forgive, so it might say it will meet the homeowner half way and write off $10,000 and the homeowner will need to write a check to the bank for $10,000 when they sell. Or, the bank may forgive the whole amount, it's up to them how low they will allow the sellers to go.

The good news is that the banks really don't want the houses, so they want to do everything they can to help the seller get out of a bad situation. This is becoming more true with the increasing amount of foreclosures and banks take back more and more houses. The banks are really trying to cut their losses, so they are becoming more willing to approve a full short sale as long as the purchase price is reasonable and close to market value. I toured a home today where the bank had given the approval for a short sale as low as 10% below what the homeowner owed on it.

All this means for you is that it usually takes a little longer to negotiate the final sale price of the property because it takes a while for the bank to review the offer and approve or reject the offer price or terms. Just keep in mind that the seller does not have the final say in your offer being accepted, rejected or countered.

Sometimes the bank who is selling the house will want you to qualify for financing through them, but you don't need to use them to finance your purchase. If the bank requires you to qualify through them, they just want to know that you are a well-qualify buyer, but you should still have your choice of lenders to use in your purchase.

On a side note, in the past if the bank approved a short sale and wrote off the difference as a loss without charging the homeowner for it, the IRS considered the forgiven debt to be income for the homeowner. As in the example above, if the homeowners sold their house for $20,000 less than they owed the bank, the homeowner would owe taxes on that amount and would receive a large bill for the taxes. The IRS recently changed their rule on this as it was seen very unfair to a homeowner who was typically in dire straits to begin with. See my blog article "IRS Revision Bill HR3648" to find out more about this change.

If you are facing foreclosure, the worst thing you can do is try to ignore it - you need to be proactive and take action and contact the appropriate professionals to help yourself and your family. Foreclosure is a long and complicated process. If you are facing foreclosure, read my blog article "Foreclosure Timeline" to find out how long you have to find help. If you are facing foreclosure, a short sale is one solution to the situation. See my blog article "Falling Behind on Your Mortgage?" for other possible solutions to the foreclosure problem.

Visit my website www.MyNextNewHome.com for more information about my real estate services.

Hot Times and Cool Nights during the Hudson Hot Air Affair

Sun, 03 Feb 2008 14:45:07 -0600

The 2008 Hudson Hot Air Affair was this weekend, if you've never been to Hudson for it you need to come check it out! It's a weekend stuffed full of fun for everyone - candle light ski and hike, snow volleyball, arts and crafts fair, karaoke and dancing, and more! The big events are the Friday night parade and fireworks, the Saturday morning balloon launch, and the Saturday night Moon Glow.

The Parade runs down 2nd Street, the main street through historic downtown Hudson. The balloon baskets and torches light up downtown, while participants throw candy and dance to music...

The crowd follows the parade down to Riverfront Park for a fireworks display, before taking in the evening activities and all the nightlife that downtown Hudson has to offer...

Saturday night the hot air balloons light up the night sky for the Moon Glow event, a serene and picturesque display of colorful balloons and red-hot flames set against the black night sky...

For more information about this annual family-friendly attraction, visit www.HudsonHotAirAffair.com.

And if you are still travelling here from out-of-town for this event every year, don't you think it's about time you finally bought a new house here and called Hudson 'home'? If the time is right to make the move, don't hesitate to call me today to begin exploring all of the possibilities Hudson has to offer. And if the time isn't quite right, visit my website www.MyNextNewHome.com to start searching for homes around the area and for more local community info. Remember, I'm here to help.

Homestead Property Taxes in Minnesota, Not in Wisconsin

Thu, 17 Jan 2008 14:19:15 -0600

"I just bought a new home in Wisconsin - do I need to file for 'homestead' tax status?" "Why are property taxes higher in Wisconsin compared to Minnesota?" "Are there tax advantages to buying a home in WI versus MN?"

WI and MN do their property taxes a little different...

Minnesota basically offers a discount on your taxes for the home you live in (your primary residence, or "homestead"), but they need to make their money somewhere, so to make up for this they increase the tax rate on non-homestead properties (like investment properties, lake homes, etc.)

Wisconsin, on the other hand, does not distinguish between the two types, and basically charges the same tax rate whether it's your primary residence or an investment property.

WI does not have this "homestead" status, so basically all properties you look at in WI are considered "non-homestead" properties for tax purposes. WI does offer a small tax credit if your primary residence is located within WI. If you buy a primary residence in MN, you need to file paperwork with the county right after closing in order to claim the homestead status.

So if you're shopping for properties between the two states, it is typically advantageous from a tax standpoint to buy your primary residence in MN so you can claim the homestead status, and then buy a second-home in WI because WI doesn't increase the tax rate for second-homes.

There are also local municipal taxes, special assessments and lottery credits that affect the final tax bill, so this doesn't hold true 100% of the time and you may see non-homestead MN properties with lower taxes, but it is very typical.

The tax advantages are only one variable in a very large and complex equation. I would never tell someone to buy a house simply because they can save a little money in taxes. Buy it because you love it; buy it because it's the best decision for your family; buy it because it feels like 'home'.

(And of course, my disclaimer: I'm a real estate professional, not a tax advisor; please consult with your preferred accountant or tax professional for the full tax implications before purchasing any real estate).

Please visit my website www.MyNextNewHome.com to search for properties in WI and MN, and register to save your search and receive automatic email updates to be the first to hear about a new listing or a price reduction!

Chris Schulz, Real Estate Consultant - What I Can Do To Help You (Video Profile)

Thu, 27 Dec 2007 15:04:15 -0600

Even if you're not considering buying or selling a house anytime soon, please feel free to contact me for any real estate related questions, I'm always here to help. (such as "what improvements will add the most value to our home?") Click the "Play" button on the player above for your video message.

For more about myself and my services, please visit my website www.MyNextNewHome.com or read my full blog at www.RiverValleyExplorer.com.

But don't take my word for it... click here to see what my past client have to say about their home buying and selling experience.

Here's a little bit about myself...

I am a licensed Real Estate Broker in WI and Salesperson in MN, allowing me to serve your needs no matter which side of the river you're interested in. My sales experience includes single family homes, condos & townhomes, larger acreage country properties, and the re-development of a resort community as condominiums offered for sale to private investors.

I also possess an extensive background in property management, as I have managed a diverse portfolio of properties ranging from single-family rentals to 240 unit multi-family complexes. This experience provides me with insight into many of the investment aspects of the real estate business, which I am able to put to use consulting with you.

I make use of the latest technologies, market research and business strategies to meet your expectations. However, more importantly, I listen to your needs and that means I will find solutions that are tailored to you.

Specializing in working with condo and townhome properties, I am well versed with the many extra details that are required due to the home owners associations.

Buy-and-hold investment properties are a wonderful way to build wealth for you and your family through equity build-up, price appreciation and cash flow. Let me show you how to buy it right and build an investment portfolio of your own. My property management experience allows me to consult with you on tenant issues as well as the everyday management of your properties.

I also enjoy working with first-time home buyers, and pride myself on my consultative approach helping you understand the home buying process from the search to the close.

If you have any questions about searching for a new home, selling your exising home, or evaluating an investment property, please complete this Contact Form and I will follow up with you right away. Thanks for your interest in my services, and I look forward to hearing from you!

SOLD! Beautiful Lakefront Home on Lake Magnor in Clayton, WI

Wed, 26 Dec 2007 13:47:43 -0600

SOLD! Beautiful Lakefront Home on Lake Magnor in Clayton, WI

3 Bedroom, 3 Bath, 3,076 finished square feet, 2-car Attached Garage, 2-car Detached Garage and Workshop.

Relocation makes Beautiful Lakefront home on Lake Magnor with over 100 feet of frontage available. Relax in the spa or in front of fieldstone fireplace. Australian Cyprus hardwood floors, vaulted ceilings, large open kitchen, walk-in closets, 32x27 pole shed. Enjoy sunsets across the lake!

Visit the Featured Properties at www.MyNextNewHome.com for more information about all my listings, more pictures, and Virtual Tours!

Great News! IRS Revision Bill HR3648 Passed, Phantom Income No More!

Wed, 26 Dec 2007 13:13:16 -0600

This past Thursday, December 20th 2007, the the president signed IRS Revision Bill HR3648 into law.

Previously, if someone sold their home "short", or negotiated a "short sale" (sold their house for less than what was owed to their lender, and the lender simply forgave the difference) the IRS considered the debt that was forgiven to be income, taxable income no less, and that homeowner who had typically just been going through hard times was slapped with a bill for the taxes owed on this "phantom income".

What this bill does is remove the taxation requirement. The good news is it is retroactive for any homeowner who negotiated a "short sale" in 2007. That means any of the houses that sold this past year in which the seller had a "short sale" will NOT result in a 1099 requiring them to pay income taxes on the forgiven amount.

For all you real estate professionals out there - You now have a "good news" phone call that you can make to your 2007 short-sale sellers, letting them know that they won't need to worry about an additional income tax burden. You might be able to find some new listing opportunities too, I know some sellers have been reluctant to even consider listing their homes and negotiating a short sale because of the potential tax liability under the old IRS rules.

In addition, this bill also extends the tax deductibility of Mortgage Insurance through December 31, 2010. More good news for homeowners who pay MI each month!

Happy Holidays!

You can also find out more information on this topic by reading these articles...

Falling Behind on Your Mortgage? 7 Solutions to Consider and Avoid Foreclosure
http://activerain.com/blogsview/246995/Falling-Behind-on-Your

Foreclosure Timeline - How long do I have?
http://activerain.com/blogsview/252371/Foreclosure-Timeline-How-long

"Subject To..." - Who has the final say in if you can buy a house?
http://activerain.com/blogsview/367605/-Subject-To-Who

For more information about myself and my real estate services, please visit www.MyNextNewHome.com. Once you're there, you can search all available properties, or request your free home consultation and market analysis.

List Your Home During the Holiday? YES!! It's a Great Time to Find A Buyer

Thu, 20 Dec 2007 12:28:55 -0600

Many people think that a slow down in real estate sales during the holidays is a reason to hold their home off the market until spring when there are more buyers looking. There are many benefits to listing your home during the holidays, here are a couple good ones...

1. Putting your house on the market now gives you the opportunity to have it sold by the spring time, and then you can shop for a new home for yourself as a "non-contingent buyer". This means you can submit a stronger offer, when there are more houses on the market for lower prices in the spring. Sell high, buy low!

2. Sell it now for more money, and negotiate for a delayed closing or extended occupancy through early next year. Now you know your house is sold, so you don't have to worry about it, and you have time to search for a new home at your convenience.

3. You can indicate your home is "Temporarily Unavailable to Show" in the MLS, so you don't need to worry about unexpected short-notice showings over the holidays when you are trying to enjoy family time. This still allows buyer to find your home when they are searching online, and you won't be bothered with showings.

4. January is a strong month for the relocation market, as it is usually the month for employees to begin new jobs. These buyers need to buy, have a real sense of urgency, and are usually well-qualified. You'll need to have your home on the market before the holidays to attract these hot buyers.

5. There may be tax incentives for some people to buy before the new year, and these buyers will be motivated to move quickly.

6. Buyers have vacation time during the holidays, which means they have more time to look for a new home than they normally would during the work week.

7. Buyers are more emotional and are thinking more about their families and their future during the holidays. Emotional buyers will become more attached to your house, and will be more willing to pay your price.

8. Houses show wonderfully when they are decorated for the holidays. Plus, there are many more people driving around neighborhoods looking at lights and decorations, so get the for sale sign in the front yard and let all these onlookers know it's available.

9. The supply of homes on the market usually reaches a low this time of year, and then significantly increases beginning in January, February and March. Larger supply and lower demand means less money for you, so put it on the market right away!

10. There are fewer houses on the market during the holidays for the serious buyers to consider, and less competition means more money for you!

...And the best reason to list your home during the holidays...

The buyers who are motivated enough to look for homes during the holidays are the most serious buyers! These are the people you want looking at your house.

SOLD! 219 140th Avenue, Turtle Lake WI 54889

Tue, 18 Dec 2007 20:13:02 -0600

13+ Acre Recreational Retreat!

13+ acre Recreational Retreat! Perfect for Snowmobiles and 4-Wheelers, Bring your Canoe and enjoy the Beaver Creek Frontage. Unique High-Efficiency Steffes Heating System, In-Floor Radiant Heat, Air-to-Air Exchanger, Central Air-Conditioning, Water Softener, Vaulted Ceilings, Finished Walk-Out Basement, Insulated 2-Car Garage, Deck, Home Audio Speaker System throughout Home, All Rooms Wired for Multiple Phone/Ethernet and Cable TV, Appliances Included.

Visit the Featured Properties section at www.MyNextNewHome.com for more information, photos, and a Virtual Tour!

New Richmond Market Report - November, 2007

Wed, 12 Dec 2007 17:03:40 -0600

According to research done by the Minneapolis Area Association of Realtors (MAAR), there are 228 houses on the market, with 22 new listings and 15 closed sales during the month of November.

The average time on the market for the closed sales were 200 days (almost 7 months). This is up by one month over last year (166 days for sales that closed during November 2006).

The average sale price was $191,160. This is down by 7.7% or over $15,000 from last year; the average sale price during November 2006 was $207,032.

You can view the MAAR statistics for New Richmond by visiting http://www.mplsrealtor.com/Segments/Realtors/The100/New-Richmond.pdf

Use Free Slideshows to Advertise Your Listings

Wed, 14 Nov 2007 13:44:05 -0600

Slideshows are great for advertising because the involve the viewer much more than static pictures. They grab the viewer's attention and hold on to it, while showing off the pictures of the home's best attributes.

Here's a slideshow I put together for one of my listings, they are really easy to do on Slide.com. Just upload your pictures, choose your favorite type of slideshow layout and transitions, and your ready to go! The site will give you the HTML code, and then you can simply paste it into your website or blog. Piece of cake.

Foreclosure Timeline - How long do I have?

Sat, 27 Oct 2007 11:59:50 -0500

"How long does the foreclosure process take?"

In Wisconsin, typically you are considered to be in default of your mortgage after falling 3 months behind, or not making a payment for 90 days. At this time you will be sent a foreclosure warning letter and your lender will file a foreclosure lawsuit and the county sheriff will serve you with the papers. This takes 30-60 days.

Now that you have been served the papers, the clock is ticking... You have 20 days to respond to the court (either "I paid", "I will pay", or "I don't owe it and why"), or the foreclosure judgement will be entered against you.

Once the judgement has been entered against you, there is a 6 month redemption period within which you can reclaim your house if you pay the past due amount plus any interest and fees.

At the end of the redemption period, the sheriff's sale is scheduled. This will takes another 4-8 weeks and must be published in a newspaper and public records.

Things can happen fast after the sheriff's sale. Once the sale is confirmed, you will receive a notice to vacate the property within only a couple days.

Total time from the day you stop paying until the vacate date is approximately 11-13 months, or right around a year.

Check out my post 7 Solutions to Foreclosure for ideas on how to work through the foreclosure process... http://activerain.com/blogsview/246995/Falling-Behind-on-Your

The foreclosure process varies from state to state, and is a very complicated process. If you are facing this situation, you must consult local legal, tax, and real estate professionals for advice on your individual situation.

Sometimes All It Needs is a Price Reduction

Fri, 26 Oct 2007 09:49:16 -0500

"Why do I need to reduce my price for it to sell, can't I just do more advertising?" "Why are housing prices falling?"

These are some of the questions I find myself answering these days. Even with all the negative news that is out there, some Sellers are still unrealistic with their expectations of sale price. Some are still emotionally attached to their "home", others simply can't sell it for what they owe on it. These are some of the stories, analogies and scrpits I use to try to simplify it down and explain the situation to Sellers who are in an over-priced home.

Please feel free to comment and share your own stories, scripts and suggestions.

First, it's important to pay attention to what other Sellers are offering their houses for. These Sellers and their houses are your direct competition. The Buyers that look at your listing are looking at these as well, and then comparing them to see where they can get the most for their money. No amount of advertising will sell an over-priced home because the internet makes it is so easy for Buyers to shop around, and they are probably working with a Real Estate Professional who knows the market. Bottom line is if your property has more to offer and is more affordable than your neighbors', a Buyer will go with your property.

For some perspective, compare the housing market to the stock market. The stock market is up some days, and it is down other days - the housing market is just a lot slower, and changes every couple years instead of every couple days. You can't control where the stock market goes, just like you can't control what your neighbors are asking for their properties or what a Buyer is willing to pay for yours. Think of your house like a stock that is worth more on some days and worth less on others. When it's time to sell the stock, all the wishing in the world won't make it worth more than what someone is will to pay for it.

I like to compare the situation in today's market to that of a clearance sale at a department store. The store bought too many t-shirts at the beginning of summer. Now that its customers are not buying as many t-shirts because it's almost winter (they are buying sweaters instead), and it has a lot of t-shirts in it's inventory, it needs to have a big clearance sale and reduce the prices in order for it to sell the t-shirts. Otherwise, the t-shirts will sit in the stock rooms until the Buyers are back looking to buy t-shirts again. In the housing market, there are far more houses for sale than there are people looking to buy them According to the Minneapolis Area Association of Realtors September statistics, there are 10.4 houses on the market across the Twin Cities for every one person looking to buy. So if you are selling your home, you are competing with 9 or 10 other Sellers for one Buyer - your property needs to look its best and be priced right.

I also like to compare it to buying a sweater at the store. When you see a sweater you like, the first thing you do is look at the price. You might try it on, then you might look around and see if there are any other sweaters you like better that might be on sale or selling for a cheaper price. If you see a sweater you like better, and it fits you better, for less money, why wouldn't you buy it? This is exactly what Buyers are doing when they are looking at houses, and with so many other homes on the market, you need to be the best deal on the block.

When we look at the numbers for St Croix County in western Wisconsin, unfortunately what we are seeing are declining market prices across the board, and especially with townhouses and condos because many of them are very similar and there are so many of them for sale. There are 112 condos/townhouses for sale right now in the city of Hudson alone, so the competition is stiff.

Median Sales Price for St Croix County (Western WI Realtor Assoc):

March, 2007 = $205,000

April, 2007 = $200,000

May, 2007 = $195,500

June, 2007 = $195,000

July, 2007 = $199,225

Aug, 2007 = $196,500

Sept, 2007 = $186,000

That's a 9% decrease since spring 2007, and the decline has been steady through the summer which is typically the strong season. Prices are falling across the board, and in order to sell you need to follow the market or be left behind.

Falling Behind on Your Mortgage? 7 Solutions to Consider and Avoid Foreclosure

Mon, 22 Oct 2007 23:15:47 -0500

Foreclosure is a complicated and serious issue that varies from state to state, with many legal, tax, and credit history implications. You need to find real estate, tax, and legal professionals in your local area who are knowledgeable about the process, and who you can meet with face-to-face for guidance on how to solve this problem.

Are you in the foreclosure process and not sure how long you have - read my blog article on the Foreclosure Timeline in Wisconsin (http://activerain.com/blogsview/252371/Foreclosure-Timeline-How-long).

If you are falling into trouble with your mortgage obligations, here are some options to begin to consider and discuss with your local professionals to try to solve your mortgage problems and avoid foreclosure...

1. Reinstatement

Reinstatement means you get caught-up on the amount you currently owe. This includes paying the monthly payments you have fallen behind on, plus any late fees or penalties charged by your lender. This is an option that is available before the property goes through the sheriff's sale/auction and goes "back to the bank". You should contact your lender to find out what the current reinstatement amount is for your loan. To come up with the additional money, you may need to sell off some other assets if you have them available (i.e. boat, car, retirement account) or borrow the amount from a trusted source, such as a member of your family.

2. Redemption

Redemption is when you pay off your mortgage in full following the sheriff's sale and reclaim the house. The redemption period in which you are able to reclaim the house varies by state and the circumstances of the situation (such as if the property is farmland or if it is vacant.) Redemption typically occurs by selling or refinancing the property. But since the home has already been foreclosed on and your credit history has been affected, refinancing will be difficult if not impossible. You may be able to turn to a trusted a family member or real estate investor who can purchase and take title to the property, while you continue to make the payments and live there.

3. Forbearance Agreement

Also known as a work-out program or a payment plan, a forbearance agreement may be able to be negotiated with the lender. Instead of paying the full amount of the monthly mortgage payment, you may be able to pay a lower amount for a limited time. This is only an option before the sheriff's sale occurs. The lender will want to know what went wrong and why you fell behind on your mortgage payments, and will want to be reassured that the problem has been solved and you can get back on your feet. They may be willing to lower your payment for a limited time, but will not want this to be a permanent solution.

4. Bankruptcy

This may or may not be an option for you. You will have to contact a bankruptcy attorney to find out if this will be a solution for you.

5. Deed In Lieu of Foreclosure

This process is basically when you just give the property to the lender to satisfy the mortgage debt. The advantage for you is avoiding the foreclosure from ruining your credit history, and releases you from any personal indebtedness associated with the defaulted loan. The downside is banks may be reluctant to agree to this because the last thing they want is another property that they now need to sell, especially one that doesn't have any equity in it. There can be a long application process with this as well.

6. Do Nothing

This isn't really a solution, but it is a choice you have. Unfortunately, this is the choice many people facing foreclosure make, and is the worst option available. Foreclosure can be an personal emotional upheaval, and many facing foreclosure are in denial of the cold hard consequences. If you are in this situation, you must work with your lender and your local real estate, tax, and legal professionals to salvage what you can before things get worse. Doing nothing is not a solution, and is not an option.

7. Short Sale

A short sale is when you sell the home for less than you owe on it. Now this leaves you with the question of what happens to the difference between what is owed and what you sell it for? You owe $200,000 on the home, but you can only sell it for $180,000, what happens to the $20,000 that you still owe your lender? There are two options - first, they could go to the courts and file a judgment against you for the amount owed in an attempt to collect the balance from you. Or, they could simply write off the amount owed as a business loss and forgive you of the debt. If this is the case, that amount you were forgiven may be considered to be income, and you may be taxed on that amount. The government has been considering changes to the tax code to fix this, so watch for these changes to be announced, or contact your lawmaker to request that this be changed.

Please feel free to question or comment with your own ideas and suggestions.

If you are facing foreclosure, the worst thing you can do is wait and hope things will get better. You need to take action right away and contact professionals who can help you out of this situation. Visit my website www.MyNextNewHome.com for more information on my real estate services, and feel free to call or email me for more information, I'm here to help.

Reverse Mortgages: What are they all about?

Mon, 15 Oct 2007 10:30:16 -0500

Courtesy of Beth Stenzel & Roger Stenzel; Mortgage Consultants with Integrity Associates

Reverse Mortgages have caused a lot of "buzz" lately and maybe you've wondered what are they all about? Well, we've go the answers for you. And it might be great news for anyone over 62 years of age that would like a mortgage with no monthly payments to make and no credit qualifying. That's right, with a Reverse mortgage you borrow the money you need and you don't make a single payment until you sell the home. The interest on the mortgage is added to the principle balance so your mortgage balance grows over time.

You can choose to receive the loan proceeds in several ways: a lump sum payment, monthly payments sent to you each month or a combination of both. This is a great loan program for borrowers on a fixed income with equity in their home but who are unable to sell or wanting to stay in their home. Best of all, there is no credit qualifying so the income, debts and credit history of the borrower isn't taken into account. This will help borrowers who may have struggled to make ends meet and wouldn't qualify for a traditional mortgage.

To find out more about this great loan product or other financing options be sure to call Beth Stenzel & Roger Stenzel,"Your Local Home Town Financing Team".

Click Here for our Contact Information and to Find Out More About Us: http://activerain.com/rstenzel

SOLD! 792 Plum Tree Lane, Somerset WI 54025

Fri, 12 Oct 2007 11:56:47 -0500

792 Plum Tree Lane, Somerset WI

So Many Amenities, Exceptional Value

You'll Find It Easy to Relax with your Radiant Sun Room and Warming Gas Fireplace. This Home's Open Floor Plan, Spacious Rooms & Vaulted Ceilings are Great for Entertaining Friends & Family - have everyone over for a cook-out on you Patio! Ceramic Tile Floors in the Foyer, Kitchen and Bathrooms are Attractive, Long-Lasting and Easy to Clean. Master Suite includes a Full Bath & Walk-In Closet for Plenty of Space and Privacy. Stay Comfortable with Efficient In-Floor Radiant Heat and Central Air Conditioning. You'll never have to scrape ice off your Car Windows again - the 2-Car Garage is Heated, Insulated, Finished and Extra-Clean.

Say NO to Stairs & YES to One-Level Living and a Low-Maintenance Life Style! Homeowners Association covers the lawn care and snow removal so you can focus on what matters to you - all for only $25 per month!

Located in the Friendly and Growing River Hills Neighborhood, within walking distance of new Shops, Restaurants and Local Businesses. You're Going to Love This Home!

Included Items: Washer, Dryer, Range, Refrigerator, Microwave, Dishwasher, Custom Window Blinds in every room. Curtains Not Included.

Visit my website http://www.mynextnewhome.com/ and click on Featured Properties for a virtual tour, more pictures and information.

Halloween Safety for Your Home

Thu, 11 Oct 2007 15:40:19 -0500

You Talk to Your Kids About Safety, But How About Your Home?

Many parents go through Halloween safety tips with their children before they head out for a candy-filled evening of tricks or treats, but never take a moment to think about their own home's safety. Take a moment to consider these couple things before celebrating the spooky holiday.

Extra Home Owners Insurance is a big thing that many people never even consider. If you are hosting a party or have extensive decorations that may draw a crowd, an injury on your property would be a quick way to spoil everyone's fun. Take a moment to contact your insurance agent and have a discussion about your insurance coverage. Extra coverage for one night is an inexpensive way to sleep easy at night.

Pull your vehicles into the garage as there will be a lot of extra traffic that night. Mini vans carting around loads of hungry ghosts and goblins, and packs of scary creatures on foot, will fill the roads and may be distracted with all of the activity and candy.

Some yard items can trip up ghostly visitors, but are easy for us to forget about because we see them everyday - just because we know those items are there doesn't mean visitors will, especially in the dark. Take a moment to double-check your yard for items like that rolled up hose or flower pots near walkways.

Check out these interesting Halloween links:

Halloween Safety Tips

101 Halloween Ideas

Halloween Recipes

Halloween Screensavers

Halloween Type Fonts

A "Buyer's Market" Is Not Always a Bad Time to Sell

Fri, 14 Sep 2007 09:45:22 -0500

"Is a 'Buyer's Market' really a bad time to sell?"

I have had a lot of people tell me they are thinking about putting their house on the market because they want to move for any number of reasons, and the question "should we wait until the market turns around" always comes up. There is a lot of negativity on the evening news, but

A common perception is that a buyer's market is always a bad time to sell. The truth is that it all depends on the seller's individual situation and circumstances.

~ If you are planning on moving up to a larger or more expensive home, then now is a great time to sell. The money you receive from the sale of your home, even though it might not be as much as it would have been several years ago, will go much further in a buyer's market. Typically, the more expensive a home is, the more its price will drop in a buyer's market.

~ If selling is good for your family, your career, or your way of life, then selling is probably a good decision even if you receive less then you like from the sale. Some things are simply more important.

~ In many markets across the country, the current 'low' is still well above the typical market conditions (the last couple years were far from typical, so don't base you percptions on what was happening then). If you bought prior to the boom, then now is still a great time to sell.

~ If your current interest rate is very high, and you could get a better interest rate if you bought now, it may make financial dollars and sense to sell now.

People are still buying houses (you wouldn't believe it based on what you hear on the evening news), they may not be buying as fast and furious as we saw a couple years ago, but they are still buying. The trick is to be the best deal on the block, which means pricing your house right and keeping it in near-perfect condition.

Renewing That Weathered Deck

Fri, 14 Sep 2007 09:03:21 -0500

Whether you're grilling out or just relaxing, your deck is a great way to enjoy the outdoors. Unfortunately this hot and dry summer has left some of our decks in poor shape. I have noticed a lot of dried out, faded and weathered decks as I've looked at homes throughout the summer.

No finish is completely weather-proof. The same UV-rays that give us sunburn will give your deck its own "sunburn" over time, leading to fading and cracking. Also, moisture can work its way in where wood is worn down in the high traffic areas, potentially leading to rotting. Renewing your deck is an easy do-it-yourself weekend project, and now is a great time to get-er done before winter sets in.

If your deck needs a little revitalization, you'll need to watch the weather forecast for 3 dry and sunny days. On day one, don't worry about doing anything besides letting the deck dry.

On day two, you'll want to clean the surface. A thorough scrubbing with a household cleaning solution of 50/50 bleach and water will do the trick of removing the mold, mildew & discolorations. This might be all it takes to make your deck look like new!

But don't stop there. On day three, apply a stain or sealer to give it nice color. Semitransparent stains hide the gray color and let the wood grain to show through, and usually last around 3 years. Solid stains are helpful on aging wood. They cover the grain can add a few years to a deck's life. If you go with a clear sealer on top of the stain, choose one with an ultraviolet inhibitor that will protect against fading.

Now just sit back, relax, and enjoy it this fall.