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GREETINGS FROM VERNA ACKER
REALTY EXECUTIVES Elite
414.534.7400
FOR YOUR INFORMATION:
Real Estate Information fromWestern Racine County; Waterford, WI 53185
Vol I, January 1, 1999This is the first in a series of Real Estate newsletters. The format will be simple and informational. You will receive information regarding property that has been newly listed and some that have been recently sold. I will include updates on news items that may affect the market in our area and things that I hope will be of general interest. I hope that you will find the information we pass along to be of benefit. And - if you have a question that you would like answered or an idea that you would like to see included, just let me know. I will do the best I can. JUST LISTED:
* Another new construction is being built in Ivy Glen, a 3 bedroom ranch for $135,500; and a colonial is being built for $136,900.
* There is a 13 acre parcel on Apple Rd in the Town of Norway. It has a creek and is set back off the main road. Asking price is $139,900.
* A waterfront home is available on Wind Lake. There is sandy frontage. a wooded rear yard and a 3 bedroom ranch for $169,900.
* Another home on Wind Lake is listed for $229,000. It has 117 ft of frontage and a 3 acre lot.
* I recently listed a beauty on Sunflower Lane in the town of Waterford. It is a 1994, 1.5 story with exceptional amenities. Asking price is $169,900.
* A duplex/townhome is on the market in Wind Lake for $199,000.
* How about a seven acre site with mature oak trees for $118,900? It sounds like a beautiful spot to build your dream home!
* The newest condominium project in Waterford is Mulberry Downs. It is described as a stacked ranch. With a private entrance, a 2 car garage, 2 bedrooms and 2 baths - the asking is $124,900. DON'T SEE WHAT YOU ARE LOOKING FOR?
Let me know and I will search MLS, whether you are looking for a comparable sale or something that may be on the market. SOLD/CLOSED IN THE PAST MONTH:
12/11/98 MINK RANCH RD, A 3 bedroom ranch with 1500 s.f. in Rochester: $138,000
12/10/98 ACADEMY ROAD, A 4 bedroom tri-level on 4 acres in Rochester: $168,000
12/17/98 UPLAND DRIVE, A 2400 s.f. colonial with just about everything/Rochester: $240,000
12/04/98 RHODA DRIVE , New construction colonial in Ivy Glen/Waterford: $134,900
12/21/98 Lot in Fairview Subdivision: $34,500
12/28/98 84 acres on Hwy 83 in Waterford (vacant land): $269,024
12/14/98 301 acres on Janesville Hwy in Waterford (vacant land): $1,083,600
12/04/98 Condominium in Jefferson Village in Waterford: $116,750 DID YOU KNOW?
The 1997-98 State budget bill maintains the state commitment to picking up two-thirds of the cost of K-12 public education in Wisconsin. This yearly multi-billion dollar commitment, along with the cost controls and revenue caps, has reduced property tax levies by 14.5% statewide over the last two years. THE WISCONSIN REALTORS ASSOCIATION
will work closely with the Department of Commerce to enact into law the proposed rules governing state regulation of private septic systems. The proposed rules (commonly referred to as Comm.83) represent a significant change in the code and provide a more flexible and less prescriptive regulatory scheme. Under the new code, septic systems will be measured by how well they purify the discharged wastewater, rather that the length and depth of the drainage fields. The most important benefit of such a performance-based system is that the state septic system will no longer be used to regulate land-use. Instead of a state agency controlling rural development through the types of septic systems allowed, the authority to regulate land use will be returned to local governments. It is believed that the passage of this change is inevitable. It is being reintroduced in January, 1999. Environmental groups plan to file technical lawsuits to delay it. The substance of the bill does not seem to be challenged as much as the technical language. FROM THE TOP
On July 29, President Clinton signed Senate Bill 318 (S-318) into law. The President's signing of S-318, also known as the Homeowners Protection Act of 1998, culminates a year's worth of political process on Capitol Hill and puts to rest - finally - the national debate about consumers' rights to have private mortgage insurance canceled. With the passage of the act, the cancellation of private mortgage insurance is demystified. Home buyers will now clearly understand what they are getting and they will know, too, that it can be canceled when the loan to value ratios reach the 80/20 point. Lenders, now, must inform home buyers about future cancel points. The Home Buyer should discuss the application of PMI and the new law with their lender to discover how it may affect their mortgage. THOUGHT FOR THE DAY
"Winning isn't everything - but wanting to win is." Vince Lombardi FOR THE FINEST IN REAL ESTATE SERVICE IN WESTERN RACINE COUNTY
Call VERNA ACKER at Realty Executives 414.534.6436
e-mail: verna@vernacker.com
GREETINGS FROM VERNA ACKER
REALTY EXECUTIVES Elite
414.534.7400
FOR YOUR INFORMATION:
Real Estate Information from Western Racine County; Waterford, WI 53185
Vol II, January, 1999DID YOU KNOW?
Real estate industry leaders are taking on the Federal Communications Commission over its ruling that allows residents to install individual satellite dishes or antennas without building owner or manager approval.The National Multi Housing Council, American Seniors Housing Association and National Apartment Association have filed a Petition for Review of an Order by the FCC in a U.S. District Court of Appeals to toss out the commission's decision. The rule, released by the FCC on November 20, 1998 allows residential tenants to install DSS satellite dishes on balconies, porches and other places outside of their units. It is expected to take affect in January, 1999. An owner/manager may not "unreasonably delay or prevent installation." They may, however, prevent damage to the building by restricting the drilling of holes or piercing of roofs. Ordinary wear and tear, e.g. marks, scratches and minor damage to carpet walls and draperies,is exempted. Owners and managers may prevent dish installation if they offer an alternative of a centrally placed antenna for use by all tenants.Call my office for a copy of the detailed Wisconsin Realtor article. CHILD SUPPORT LIENS
As of May 1, 1998, past-due child support constitutes a lien against all of a delinquent payer's property by operation of law. These liens will soon be routinely docketed and enforced in Wisconsin. Like mortgage liens or other liens against real property, child support liens must be satisfied when property is sold. A system to maintain a docket of child support liens,which will be available in county child support agencies and delivered electronically to county register of deeds throughout the state, is being developed by the Wisconsin Bureau of Child Support. County child support agencies will have access to the docket as well. These liens will also be reported to credit bureaus subsequent to filing. JUST LISTED:
*There is a new listing on Julia Street in Wind Lake, built 1965, asking$134,900.
*I listed a great waterfront home at 29127 White Oak Lane @ $224,900. It is a pretty white brick with an absolutely gorgeous, 3-sided view of the river!
*There is a two family home on E. Wind Lake Rd in the $270s, or you can buy 1/2 for $139,900. DON'T SEE WHAT YOU ARE LOOKING FOR?
Let me know and I will search MLS, whether you are looking for a comparable sale or something that may be on the market. SOLD/CLOSED IN THE PAST MONTH:
OOPS! In the last newsletter, under SOLD:
Closed on 12/14/98 301 acres on Janesville Hwy in Waterford (vacant Land)was LISTED at $1,083,600. It SOLD at $890,000. Sorry for the mistake. SINCE JANUARY 1, 1999
*The Victorian home at the east edge of Honey Creek, 35103 Washington Ave.closed at $122,000.
*Another new construction in Ivy Glen at 709 Rhoda , in the village of Waterford, closed at $134,900.
*And, Lot 28, Block 2 of the Bayside subdivision closed at $38,500. It was the corner lot on Lawn and Bayfield. RENTAL WEATHERIZATION RULES
The rules are changing some. Now, once that a building has been certified by DILHR with regard to the weatherization guidelines, the property will not have to be certified again. You will need your certificate number to verify that you have passed the standard requirements in the past. Some changes:
a) Any building constructed after 12/1/78 that contains up to two dwelling units.
b) Any building constructed after 4/15/76 that contains more than two dwelling units.
c) Other buildings that have previously been inspected by a rental weatherization inspector and certified to comply with the applicable minimum energy efficiency standards. WHAT'S YOUR HOME IQ?
Compliments of Don Melton's "HouseMastery" newsletter. HouseMasters Inspections 1-800-767-3131
T F 1. If you have 2 prong receptacles you can improve safety by simply replacing them with three prong.
T F 2. Most roofing leaks are caused by faulty or worn roofing.
T F 3. A standard wall stud measures 2" X 4".
T F 4. Connecting copper piping to galvanized piping is an acceptable practice.
T F 5. It is better to purchase an oversized air conditioning unit or system.
T F 6. You can judge the quality of drinking water by its clarity and taste.
T F 7. Termites and carpenter ants eat wood beams.
T F 8. In a 1" rainfall, over 1,000 gallons of water will drain off the average roof.
T F 9. Pre-1978 homes are more likely to contain lead based paint than newer ones.
T F 10. In a hot air system, turning up the thermostat raises the temperature of the heated air coming into the room.
T F 11. Most wet basements are caused by underground streams or high water tables.
T F 12. Heat pumps deliver the same register temperature as forced air systems.
HOW DID YOU DO?
1.F, 2.F, 3.F, 4.F, 5.F 6.F, 7.F 8.T, 9.T, 10.F, 11.F,12.F THOUGHT FOR THE DAY
The height of stupidity: To continue to do the same thing and expect different results. FOR THE FINEST IN REAL ESTATE SERVICE IN WESTERN RACINE COUNTY
Call VERNA ACKER at Realty Executives 414.534.6436
e-mail: verna@vernacker.com
GREETINGS FROM VERNA ACKER
REALTY EXECUTIVES Elite
414.534.7400
FOR YOUR INFORMATION:
Real Estate Information from Western Racine County; Waterford, WI 53185
Vol III, January, 1999GOOD NEWS FROM THE WATERWAYS COMMITTEE
The Fox River has been granted $75,000 to do some work on the stretch of the part of the Fox that goes from Waterford to Waukesha. The work will be mostly shoreline work. They continue to work for funding to help with dredging and water quality. FHA HAS SOME NEW GUIDELINES
FHA has been limiting the loan amounts to around $100,000 in the past. The new Racine County limits are $120,175 for single family; $147,408 for two-family; $178,176 for three-family; $221,448 for four-family. Some other guidelines are:
*Sales price times 97.65% is the maximum mortgage amount
*Sales price minus mortgage amount is down payment
*All of the down payment can be a gift
*All of the down payment can be borrowed if the loan is secured.
Clear your plans through the lender. Call Dale Bernsteen of Universal Mortgage Corp. at 1-800-932-8085. He provided me with this information. He is a seasoned loan officer with a great deal of experience with FHA programs.Remember, there are no income limitations to an FHA loan.There are no discount points and no origination fees, at this time. Be sure to ask the Realtor with whom you are working and the lender you choose to review the property of your choice to find out BEFORE an offer what you can expect regarding repairs, etc. SAVE LOTS OF $$
You can save thousands of dollars by adding to your monthly mortgage payment and reducing your principal more quickly. When you want to pay extra on your mortgage payment, however, be sure to do it correctly. If you don't indicate, with your extra payment, that you want extra money to be applied to your principal, FNMA requires that the extra funds must be paid to escrows. Be sure to include instructions when sending those extra funds. If the extra funds that you send are not equal to a full installment payment, the bank may hold the funds until the whole amount can be applied as an installment payment. Many borrowers are not aware of the fact that their contracts specifically call for payments to be applied in full monthly increments. As a result, extra payments may not immediately reduce your principal. Consult your mortgage papers or call your lender for more information and for answers to your questions. JUST LISTED:
*NEW ON THE MARKET: I just listed an exceptional ranch on the west edge of Wind Lake. It has had extraordinary remodeling with beautiful millwork and cabinetry and a very pretty, wooded lot. The asking price is $159,900. Address: 8025 W. Lake Dr. A 3 bedroom colonial has been listed in Norway, on Park Lane, for $187,900.
*Two Victorian-style antique homes have been listed in Rochester' both are on Washington Ave. The one with 6 acres is listed at $299,500. It is a remodeled four-square beauty and has a carriage house, too. The one in Honey Creek is at $173,900. It is more of a Queen Anne style with a wraparound porch.
*There is a waterfront home on Elm Island Dr for $118,900. How about a waterfront home on 90 ft of frontage with a mother-in-law suite. It is on the river on N. River Bay Rd at$184,900.
*A farmette came on the market on Buena Park Rd, six acres, a couple of barns and a 3 car garage for $259,900. The farmhouse is a pretty antique that has a lot of wonderful work done to it.Let me know if you would like info on any of these.
*There is a also townhouse for sale in Rochester, 1245 s.f. each side, at $179,900, too. DON'T SEE WHAT YOU ARE LOOKING FOR?
This is not all of the new listings. E-mail me for more. WHAT'S NEW IN REAL ESTATE SALES?
*CLOSINGS:A 3 bedroom, 1.5 bath ranch on 1.5 acres sold on Teut Rd in Burlington/Rochester for $114,000.
*Another Golf View lot sold, L61 Parkview Rd, Closed at $45,250.
*One side of a 2-unit condominium on Park Place CT in Fairview closed at $125,000.
*The waterfront lot that I had listed on Riverside Rd in Bayside sold last week at $146,000. It was just under one acre with a pretty eastern view.
*4305 Riverside Rd on the Fox River has closed (1/20/99) at $138,000. It is a 3 bedroom ranch, no basement, a 2 car garage and a one car garage on 70 ft of frontage. THOUGHT FOR THE DAY
"Things may come to those who wait, but only the things LEFT by those who hustle." Abe Lincoln FOR THE FINEST IN REAL ESTATE SERVICE IN WESTERN RACINE COUNTY
Call VERNA ACKER at Realty Executives 414.534.6436
e-mail: verna@vernacker.com |
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