Realty Executives Elite

Verna's Archived Notes
May 2002 Archives
Verna's 2001 Archived Notes by the Month
Verna's 2000 Archived Notes by the Month
Verna's 1999 Archived Notes by the Month
Search this Site
Back to the Start Page
Verna's Notebook Archived Issues

GREETINGS FROM VERNA ACKER
REALTY EXECUTIVES Elite
414.534.7400
FOR YOUR INFORMATION:
Real Estate Information from Western Racine County; Waterford, WI 53185
Newsletter, May 30, 2002

TABLE OF CONTENTS:
Proposal for New Waterford Development
Converting a Home to A Rental
The K l e z Virus


PROPOSAL FOR NEW WATERFORD DEVELOPMENT
A proposed subdivision in the village would bring 39 homes to an area at the southeast corner of W. Main St and Buena Park Rd. The Planning Commission reviewed conceptual plans for the development, which is being proposed by Mark and Kent Kosobucki. The development would be across the road from The Country Club Villas. It is planned to be an all residential area with lots of about 10,000 square feet. It is being suggested that the plan should include sidewalks, curb and gutter improvements. The area would likely invite young families to build there. And, their children would be able to walk to school instead of having to be bused.

CONVERTING A HOME TO A RENTAL
There may be some serious consequences to converting a principal residence to a rental unit. By familiarizing yourself with them, you may be able to avoid some of the problems that can occur.

If you have a qualified exclusion due you on your principal residence, you place that exclusion at risk by renting the home. If you don't own and use the home as your principal residence three out of the last five years, the exclusion is not available. The gain at that time would be subject to normal capital gains tax rates. Be sure to check with your accountant and your personal attorney before you make the decision to turn your home into a rental property.

THE K L E Z VIRUS
We have now successfully cleaned off my laptop and rid it of the damage done by the K L E Z virus, we hope. Again, we remind you to upgrade and update your Norton's or McAvee anti-virus software. We have had Norton's scanning our outgoing e-mail as well as incoming for a few months now. It is an annoyance but we have been very grateful that we had it activated. To our knowledge, none of the nearly 850 people who are in my address book were infected. Here are a couple of web sites to read more about K L E Z.

K l e z .h wins sibling rivalry.
http://news.com.com/2100-1001-923469.html

Are you the K l e z monster?
http://news.com.com/2100-1001-916945.html

K l e z.h continues to spread:
http://techupdate.zdnet.com/techupdate/stories/main/