Tax Credits for Energy Efficient Improvements

There is quite a bit of hype on the radio, television, the Internet and elsewhere with respect to energy efficiency and federal tax credits. The energy savings through greater efficiency sounds great and it can be a pretty smart investment, but be sure the home improvements that you are planning qualify for a tax credit.

The energy tax credit is capped at $1,500 which includes items like insulation, windows and doors (including sliding glass and storm doors); garage doors, new furnaces, biomass stoves, water heaters as well as asphalt and metal roofs.

Tax credits are available at 30% of the cost through 2016 for existing homes and new construction for improvements like geothermal heat pumps, solar panels and wind energy systems.

Don’t rush into anything until you talk to a professional contractor and even then you need to check out what they're telling you. Certain ads on the radio or television make it sound as though you need to use a certain brand or contractor who is qualified. An energy-efficient improvement qualifies for a tax credit based on the type of upgrade and the material used, and is not dependent upon who performs the work.

If you are interested in learning more, just email me and I can provide you with some good links to more information.

Have a wonderful weekend and Enjoy…Life is Good…Live It!

Gary Nathan

Amanda Mavis

Woodland Dev & Realty

15563 Railroad Street

Hayward, WI 54843

715-699-4040

nathan@garynathan.com

www.garynathan.com

New Shore Land Standards

In mid November the Natural Resources Board modified the proposed revisions to Wisconsin's shore land development rules found in chapter NR 115 of the Wis. Administrative Code. After 40 years of no updates the Board, just last June, had approved revisions that would provide more flexibility for shore land property owners who wish to make improvements to their existing homes, protect the habitat and landscape, enhance water quality and streamline the permitting process.

New limits were approved for hard surfaces (impervious surfaces) that cause runoff. There were also new requirements for property owners to mitigate or offset the impact of new development or expansion of existing structures.

The latest round of modifications was the result of concern on the part of some folks that the new rules were too restrictive for properties farther from waterways and not restrictive enough for development close to the shorelines.

So, the Natural Resources Board brought back this latest round of changes to the rules which zero in on two key areas:

(1) only properties within 300 feet of any lake, river or stream will be considered with respect to the impervious surface rule. Earlier the rule had included properties within 1000 feet of water, and

(2) expanding an existing home that is within 75 feet of the ordinary high water mark now has more limitations. An owner can build a second story or add to it vertically if the existing structure is a minimum of 35 feet from the ordinary high water mark. An owner cannot expand the footprint horizontally within the shoreline setback; that is a change from the earlier rule.

The new rules are expected to go into effect sometime in 2010.

If you wish to get more information you can visit the DNR website at www.dnr.wi.gov/org/water/wm/dsfm/shore/news.htm

Happy Thanksgiving everyone!

Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15563 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Homebuyer Tax Credit Extended

The tax credit extension and expansion has been approved and provides some great, new opportunities for both first time home buyers and current home owners.

- To summarize the government's latest action for FIRST TIME HOME BUYERS:

- The $8,000 first-time home buyer tax credit is extended.

- The buyer cannot have owned a home within the last three years.

- The home they purchase must be their primary residence.

- Qualified first-time home buyers would receive their $8,000 tax credit if they sign a
purchase agreement by April 30, 2010 and close no later than June 30, 2010.

- The tax credit is up to 10 percent of the home’s value but cannot exceed $8,000.

- Annual income caps to qualify for the tax credit will increase to $125,000 for single filers
and $225,000 for joint filers.

- Partial tax credit can be granted for incomes up to $145,000 for single filers and $245,000
for joint filers.

The NEW expanded part of the action taken by the Congress and the President for
CURRENT HOME OWNERS who are eligible:

- A $6,500 tax credit for current homeowners purchasing a primary residence.

- The home is eligible if the purchase agreement is executed by April 30, 2010 and the transaction closes sometime between now and June 30, 2010.

- The home buyer must have lived in their current home for five consecutive years of the past eight years.

- The new home being purchased does not have to cost more than the current home.

- Annual income caps to qualify for the tax credit will increase to $125,000 for single filers and $225,000 for joint filers.

- Partial tax credit can be granted for incomes up to $145,000 for single filers and $245,000 for joint filers.

Personally I believe this will have a continued positive effect for first time home buyers; I am unsure what to expect will happen with respect to the new part of this stimulus package.

Have a great weekend and good luck to all you hunters; be careful. Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15563 Railroad St
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Tax Credit to be Extended....

The 2009 First Time Home Buyer Tax Credit has been expanded and extended by congress-- changes are to be effective when President Obama signs the bill, possibly by November 6th, today.

Below are some helpful links.

Frequently Asked Questions Regarding Tax Credit Changes

NAR Issue Brief: Homebuyer Tax Credit Changes

Title Insurance - OEC

Greetings!

When anyone purchases a property - whether it's a vacant piece of land, home or commercial lot or building, it's typical for the buyer to request and the seller to provide a commitment for a Title Insurance Policy on the property.

It's very important that the buyer and his/her attorney review the Title Commitment received from the Title Company with respect to the conditions of the property. Those conditions include but are not limited to the correct legal description, legal ownership, easements, encroachments, mortgages, real estate taxes due, liens and exceptions and exclusions to the policy itself. There may be changes that occur to the property status between the time of an accepted offer and the closing.

GAP insurance is available for a buyer to purchase to cover certain issues that occur in the time between the issue of a title commitment for an insurance policy and the actual closing of the transaction.

Another kind of insurance policy that isn't is OEC or Owners Extended Coverage. Typically OEC is a policy in which ALL of the standard exceptions have been deleted. While the way the standard exceptions are listed varies slightly from title agent to title agent, they are essentially the following:

1. Rights or claims of parties in possession not shown by the Public Records.
2. Easements, or claims of easements, not shown by the Public Records.
3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the Land.
4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records.
5. Taxes or special assessments which are not shown as existing liens by the Public Records.
6. Matters first going of record after the effective date of the commitment.

Please note especially "not shown as existing in the public record". If you are a buyer or seller, it certainly is worth your time, effort and money to consider OEC insurance in any real estate transfer; it may be one of the most important investments you make in your next real estate deal.

Thanks to Renee Donaghue of Sawyer County Abstract & Title Company for sharing this information.

Have a great weekend and remember, Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15563 Railroad St
Hayward, WI 54843
715-634-2110
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Living on Waterfront

It’s hard to believe that the summer is winding to and end and we are approaching fall; the weather of late has been just beautiful. We continue to suffer from lack of rain and our area is in an extreme drought condition. With that come low water tables, stressed trees and lakes that are very low. Some ponds have completely dried up and waterfowl is seeking other refuge. With that in mind, it is important to be good stewards of or lakes, rivers, streams and ponds. If we are going to live at the waterfront, we need to be well informed.

There's a guide which addresses many issues that waterfront property owners may face. The University of Wisconsin Extension and Wisconsin DNR have created a new publication for waterfront property buyers and owners titled "Choosing the Right Waterfront Property." The guide is free and can be downloaded at: http://www.eliteemail.com/clicktrack.cgi?cid=79374&url=http%3A%2F%2Fwww.uwsp.edu%2Fcnr%2Fuwexlakes%2Fpublications&u=97567643
In addition, you'll find other helpful resources including information for those who are thinking about buying waterfront property; the publication will help buyers match expectations with the reality of living on our wonderful waterfront properties in northwest Wisconsin.

You will also find information on Aquatic Plant Guides, lake organizations and simple practices that can help you protect your waterfront investment. It’s worth your time to peruse this helpful web site.

Have a great weekend and remember that Life is a Gift…Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15563 Railroad Street
Hayward, WI 54843
Cell: 715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Remodeling Benefits

There are many of you that had planned to put your house on the market but instead you have decided to wait until the current inventory of homes diminishes and pricing grows stronger. In the meantime, you have decided to remodel your existing home and for good reason.

Remodeling will, in most cases, showcase your home better when you are ready to sell and help you reach a premium sales price. You will also have the benefit of enjoying the new additions or changes made during and following the process.

Before you begin, be sure that you make wise decisions in terms of payback for money spent- get the biggest bang for your buck! Try to view your home as a future buyer would and figure out what people are looking for that shop your neighborhood. The biggest priorities we see is that buyers want is a master bedroom suite, two or more bathrooms, updated kitchens and homes that do not have structural issues such as foundations, windows and roofs. If your basement or lower level is damp or wet, get it fixed.

Five of the top-ten average cost projects cited in Remodeling magazine's "Cost vs. Value Report" that provide the highest percentage return are:

Wood Deck Addition - 81.8%
Vinyl Siding Replacement - 80.7%
Minor Kitchen Remodel - 79.5%
Window Replacement - 77.7%
Bathroom Remodel - 74.6%

Other high-dividend projects include attic bedroom, basement remodel and major kitchen remodel. If you don't have a, you may want to consider that addition to help boost appeal to a future buyer.

Your home is one of the largest, if not the largest investment you have made. Do your homework and hire competent local contractors to do the work.

Have a great weekend and remember, Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15563 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Housing Market Turning the Corner?

There is a strong indication that the housing market may be turning the corner and buyers are getting off the fence. The National Assn of Realtors reported that pending home sales rose in June for the fifth straight month. Most of this has been fueled by the continuing low interest rates, high housing inventories, tax benefits, seller incentives and the bargain prices on many homes. We have certainly witnessed much more buyer activity and deals coming together in just the last 30 days.

Despite what we have been through in this turbulent economy, a recent survey indicates that Americans still believe in the dream of home ownership. According to the June PULSE Top 25 Metropolitan Statistical Areas Survey, 83 percent of consumers believe buying a home is a good financial decision. Those surveyed, which are in their prime home purchasing years (ages 25 to 44), had not been adversely affected by the market in the past several years. About 75% of the survey respondents said that now is a good time to purchase a home because of home price declines.

Consider the following:

1. Today’s headlines indicate that the “Affordability Index” today is the same as 6 years ago (2003) signaling an excellent opportunity for buyers.

2. Case Shiller U.S. housing index shows increased home values for the 1st time in 3 years signaling the probable beginning of the housing recovery.

3. Interest rates today are outstanding – who knows what they will be like next year or the year after. They are at historical lows this year – that we know for sure.

4. Higher inventory levels today are excellent for buyers for 2 reasons:

a. Most Sellers are highly motivated right now (once they see things turn, they will become less motivated – they are tired of the buyer’s market they have been experiencing for 3 long years).

b. Our problem in the past has been not enough inventory to show prospective buyers. Today, a buyer can get much closer to their ideal home (or lot) due to the increased inventory levels and they can get it at a more competitive price.

All in all, it has been challenging and will no doubt continue but we remain focused on the road ahead not the bumps below.

Make it a great weekend. Life is a Gift...Live It!

Gray Nathan
Amanda Mavis
Woodland Dev. & Realty
15563 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com

Shoreland Rules

Recently there has been quite a bit of press regarding new statewide shoreline development rules (NR 115); which was approved last week by the Wisconsin Natural Resources Board. Right now the rule will spend some time in review before being signed into law.

Upon review, it appears that our own County ordinance is more restrictive than NR 115. Counties may have more restrictive, but not less restrictive, rules than what has been approved by the State.

The idea behind the rule is to provide enhanced environmental protection for wetlands, streams, rivers and lakes but not completely shutting down improvement or development by land owners. Good rules are important and necessary. The reason why so many folks come to our County and invest in its real estate is because of the scenic beauty and water quality; its our natural resources and world class events that have put us on the map.

From my perspective, there isn't anything in NR 115 that is more helpful or restrictive than what our County already has in place. For years we have worked over our present ordinance to arrive at a plan to preserve what we so enjoy. If you have a property that contains wetland or borders a lake, river or stream and you anticipate making improvements, I recommend contacting Bill or Eric at the Sawyer County Zoning Office; they are extremely helpful.

For more information on our local ordinance go to http://www.sawyercountygov.org/ and click on the Departments tab in the menu at the top of the page. Scroll down and click on Zoning and Sanitation; on the left hand side of the page you will find several links that lead you to great information regarding ordinances and shoreline zoning.

Have a great weekend and enjoy our beautiful natural resources.

Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15563 Railroad St
Hayward, WI 54843
715-699-4040
http://www.garynathan.com/
nathan@garynathan.com

Universal Design

There is a new buzz word out there in the building industry that we need to pay attention to. It is “Universal Design”. What is universal design and how is it being used in our Hayward community?

Our good friend, Dennis Smith, of Par Place Condominiums and Apple Awards, provided me with the following information about Universal Design and specifically about his current building at Par Place.

"Universal Design is the design of products and environments to be usable by all people, to the greatest extent possible, without the need for adaptation or specialized design. What makes a home "universal"? It's simple. Everyone can use universal design! It doesn't matter if you are young or old. You could be short or tall, healthy or ill. You might have a disability. Or you may be a prize-winning athlete. Because of universal design, people who are very different can all enjoy the same home. And that home will be there for all its inhabitants even when their needs change.

Universal design is getting popular for three reasons.

First, it is safer. Many of the barriers that cause accidents and falls are eliminated.

Second, it looks nice. People with disabilities don't feel like they are settling for an institutional feeling house. And people who don't have disabilities think that universal homes look and work much better than the old models.

Third, more people want universal housing. This means that the old ways of designing homes just don't work anymore. We all want more comfort in our homes. Opening doors with arms full of groceries is as difficult at 30 as it is at 70. People live longer than they used to. More of us are living with disabilities, or know someone who does, so comfort is important in our homes. The traditional home that serves you well when you are healthy won't always take care of you when you break a leg or hurt your back. Younger people also want a home that will take care of them when they are sick or injured. People now realize that they need homes that will grow old with them. The 82 year old still wants to live in his or her own home; that person just needs a home that allows that to be the case. That's why universal design provides a great plan.

In Hayward, Par Place Condominiums is now constructing homes with many Universal Design features such as:
- One-level living with low or no thresholds in doorways
- Wide interior doors and hallways 36” to 42”
- Lever handles for opening doors rather than twisting knobs
- Light switches with large flat panels rather than small toggle switches
- Attached and heated garage with a no-step entry for easy access to your home in all seasons and weather
- A no-step entryway to the home provides access to the outdoors without steps
- Bright and appropriate lighting, particularly task lighting
- Two large full baths with handicap accessibility including a large no-threshold shower
- Energy Star Rated homes that are affordable to heat, cool and maintain
- High-quality, low-maintenance exterior construction

Par Place also has location and services that work well with Universal design. Located on a 40-acre property in the city of Hayward, there are no steep hills or grades to traverse whether driving or walking. It is close to such things as shopping & health care and actually within walking distance to pick up groceries and hardware. The local Sawyer County Transit provides quick, affordable rides to appointments or lunch at many of the favorite eating establishments. In addition there is affordable outside maintenance for one's universal home that allows more flexibility for travel. Your investment will be cared for and protected. "

We do hope you found this informative and helpful.

Take care & Enjoy - Life is a Gift...Live It!

Gary A. Nathan

Cell: 715.699.4040
Office: 715.634.2110
Home: 715.634.3585
nathan@garynathan.com
http://www.garynathan.com/
Woodland Developments & Realty
15563 Railroad Street
Hayward, WI 54843

Housing Stats - 2009 Qtr. 1

Greetings and Happy Friday!

The first quarter statistics for Wisconsin home sales are in and Sawyer County numbers are pretty consistent with last year at this time. 2009 Quarter 1 home sales were 30 as compared to 2008 Q1 home sales of 31 and the median price dropped $2,500 to $123,700.

Wisconsin home sales and median prices both fell in the first quarter of 2009 compared to that same quarter last year according to data just released by the Wisconsin REALTORS® Association (WRA).

The optimistic side of me says, that all things considered, it appears we have leveled off. Mortgage rates continue to be in the 5 percent range and banks are willing to lend to buyers with solid credit histories. The federal stimulus package has offered a refundable tax credit of up to $8,000 for first-time buyers in 2009; we have seen many more first timers in the market than in past years.

According to a recent survey of buyers and sellers conducted by the National Association of REALTORS®, first-time buyers comprise about half of the existing home sales nationally. Historically, housing has been an asset that keeps up with inflation and provides a good way for people to build wealth.

You can't imagine the number of people I talk to that would love to make the move here permanently, or at the very least have a recreation property. We are blessed to live in this area with it's woods, water and clean air.

This weekend is busy with the 22nd Annual Fishing Has No Boundaries and the Cable Off-Road Classic Bike Race.

Enjoy your weekend...Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040 Cell
nathan@garynathan.com
http://www.garynathan.com/



Sales estimates for the state are provided by the National Association of REALTORS®, which seasonally adjusts quarterly sales figures. All county figures on sales volume and median prices are compiled by the Wisconsin REALTORS® Association and are not seasonally adjusted.

Separate the Wheat from the Chaff

Greetings!

I’m sure you have heard the expression about separating the wheat from the chaff. As a kid on the farm I learned a bunch about separating; cream from milk, weeds from good plants, wheat from chaff…well you get the picture. In fact, the Bible has a bunch to say about chaff and I don’t recall any of it being good. We are bombarded with information on all the economic news including the distressed housing market, investments, changing mortgage rates and more. You have to learn what is important and what is not important, what affects you right now or may affect you in the future, or possibly not affect you at all.

Whenever I am faced with difficult decisions about things I know little about, I do some consulting. I check with professionals like accountants, attorneys, advisers or friends that know more about the subject than I do. Those of you who know me well know that I do pray; admittedly, I don’t always get the answer I want. On the farm we didn’t quit planting wheat just because the wheat futures market was down. My Dad usually consulted with folks in the know and decided how many acres to plant and what other crops he might consider planting in place of wheat. We didn’t quit farming just because we had hail, drought or too much rain or on the basis of what people were saying; each year we planted and each year we harvested, sometimes more and sometimes less.

The media can and has caused unnecessary anguish and panic. I believe real estate works the same way as farming in that we try to make good and informed decisions based upon our short term and long terms needs. We seek professional advice as well as advice from those we trust. We optimistically move forward with a resolve and hope for the future. Separate the wheat from the chaff and may your future be blessed. Life is a Gift…Live It!

Gary A. Nathan
Woodland Developments & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040 Cell
715-634-2110 Office
nathan@garynathan.com
http://www.garynathan.com/

Warming Up!

Greetings! It's fishing opener in Wisconsin and the weather is warming up! If you don't find the walleye fishing very friendly tomorrow, I heard my basketball buddies bragging about great crappie fishing. They were all talking about their favorite holes but no one was saying where I could find those spots.

Speaking of warming up, there was a report yesterday from the Economic Cycle Research Institute (ECRI) that said the current recession, which is the longest post war, will probably end by the time the summer is over. The ECRI uses leading indicators that have a solid track record of predicting turns in the business cycle. It said that enough of its' key gauges have turned upward to indicate with certainty that a recovery is coming.

The real estate climate here has warmed up and local appraisers are really busy. Let's hope our local building contractors and vendors see an uptick in their work. Speaking of ticks, they are out in force so plan (protect) accordingly.

Have a wonderful weekend and remember...Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Wetlands - Search Before You Buy

Greetings and Happy Friday!

So, you have found a piece of vacant land that seems like such a good deal, in fact the price as compared to other properties is so good it raises a red flag with you. It could be that the property contains a significant amount of wetlands, which may impact your plan for the property. What can you do or who should you contact?

Your local County Zoning Office is one source but now you can research potential wetlands and/or seasonal streams online through the Department of Natural Resources. There are maps available that indicate wetlands and potential wetlands; the two map layers listed are designed to help users determine if wetlands are likely present. Once you are in the site, you can determine if a wetland inventory map is available by clicking on the appropriate online Wisconsin county map. This is a great tool you can use before you even jump in your car or leg it across the property.

Wetlands are actually a wonderful component on most properties providing privacy, protection, beautiful views and wildlife refuge. In many cases, wetlands may actually add value to the land. You just want to be sure you know all you can about the property before you plan to buy and improve the land or build on the property.

Just go to the link below and search away:

http://www.dnr.state.wi.us/maps/gis/applist.html

Spring is certainly uplifting, I hope you enjoy the weekend and get to spend some time outside.

Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com

Yahoo - Ice Is Melting!

Greetings from sunny and warm Hayward, WI!!!!

This past week has been glorious with the bright sun and warm temperatures resulting in a true sign of spring...the ice is out on some small lakes and going out on a few of the larger lakes. It is so interesting to watch the change as the lakes grow dark and groan with movement.

This past week I have been as far west as Pokegma and Nancy Lakes near Minong and east as far as Teal and Lost Land Lake. Visits to the Tiger Cat Flowage, Round, Grindstone, Lac Courte Oreilles, Sand, Whitefish, Spring, Windigo, Smith and Nelson all show the same signs of ice receding from the shorelines. Spring has sprung!

Activity on the real estate front has really picked up in the past 30 days; all of our local Realtors are smiling and working longer hours. Folks are not only looking but deals are coming together and the latest upswing in pendings and closings provides another indication that spring is here.

If you have listened to recent broadcasts or picked up on the news you know that housing inventories are going down nationwide so that's good news. The good news for buyers locally is that we have a good strong inventory of homes on and off water and interest rates continue to hold steady.

If you're intested in buying - come on up and see us, we'll keep the light on for you!

See you "on the lake" soon....

Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev & Realty
15617 Railroad St
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Housing Credit

Greetings from cool and rainy Hayward!

Most of you have heard about or know something of the $8000 tax credit available for first time home-buyers for the purchase of their primary residence. The purchase must be made after January 1 but before December 1, 2009.

Click on the photo below for a chart, from Realtor.org, that provides an easy-to-read overview. Please pass this along to anyone you know who might be interested!

I'll be sending some uplifting news in my blog at the end of this week so stay tuned! Think spring & have a great week!

Gary A. Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad St.
Hayward, WI 54843
Cell: 715-699-4040


Housing Credit Chart

nathan@garynathan.com
www.garynathan.com

March Madness - Another Barn-Burner

Greetings from Hayward, WI!

If you like college sports then no doubt you are getting excited for this Sunday's selection committee bracket results for the NCAA Men's College Basketball tournament. After the upsets last night to Pittsburgh, Connecticut and Oklahoma it appears the 2009 tourney will be another exciting barn burner!

This past week has been exciting in Hayward as the temperatures are warming up (sunny and 32 degrees today - "feels like 42") and the snow is melting. Our phones are starting to light up more and inquiries through the internet have been increasing as well. This is the time of the year people seem to come out of their winter hibernation.

Just making it to the NCAA tourney is a great accomplishment for many teams. It feels like a real victory to me having made it through this particular winter, as well as we have, inspite of all the dismal news. We are looking forward to summer and our own barn-burner of a year!

Have a wonderful weekend and remember...Life is a Gift...Live It!

Gary Nathan
Woodland Developments & Realty
15617 Railroad Street
Hayward, WI 54843
Cell: 715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Sawyer County Assessments

Greetings from Hayward, WI!

Numbers always intrigue me even though I barely made it through basic math courses in college. We've heard much in the news about the billions and trillions of dollars that we are either losing or loaning, so I did a little research on property values in our area.

The assessed value of real estate in Sawyer County is pretty interesting; there are a total of 292,756 acres and 14,572 improvements (homes and other buildings) on 34,844 parcels of land.

The total assessed land value is $1,870,724,370 and the total assessment for the improvements is $1,432,697,160. And the grand total for all parcels and improvements is....drum roll please.... $3,303,331,530.

Wow! And yet that's a drop in the bucket compared to the $61.7 billion lost by AIG in the fourth quarter of 2008. Essentially we would need the value of about 19 Sawyer Counties to cover the loss.

So how does Sawyer County compare to it's neighbors? Washburn County has nearly the same acreage as Sawyer with 32,593 parcels and 12,772 improvements for a grand total of $2,418,257,026 in assessments.

Bayfield County is larger by about 80,000 acres and has 33,544 parcels and 12,592 improvements for a total of $2,472,239,015 in assessments.

For more information on Wisconsin assessments go to http://www.revenue.wi.gov/equ/2008/ and click on the Assessments link.

Perhaps you were aware of the size of our "little" northwestern Wisconsin county, but I was surprised!

On the local level:

The American Birkebeiner had another successful year thanks to a great organization, sponsors, volunteers and the 7,000+ people who raced.

This weekend is the Hayward 300, the NASCAR of snowmobile racing at the LCO Casino. For more info: http://haywardareachamber.com/events_hayward300.html

Enjoy your weekend...Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Homebuyer Tax Credit & Let It Snow!

Greetings!

Wow, we had a bunch of snow yesterday so the trails will be in great shape this weekend!

I thought the information provided by the Wisconsin Realtors Ass'n about the $8,000 first-time home buyer tax credit was interesting. Maybe you know someone who can take advantage of this opportunity!

Here are six things to know about the newly-enacted $8,000 first-time home buyer tax credit:

1. Eight grand, new buyers: The tax credit included in the economic stimulus legislation is much narrower than the $15,000 proposal. This credit is equivalent to 10 percent of the purchase price of the home--although it's capped at $8,000--and applies only to first-time home buyers and principal residences. But unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.

2. First-time buyers defined: For the purpose of this legislation, a "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house. (The date of purchase is considered the day that the title is transferred.) That means if you've owned a vacation home--but not a principal residence--within the past three years, you would still qualify for the credit.

3. 2009 buyers only: Only those who purchase a home on or after January 1 and before December 1, 2009 are eligible for the credit. Anyone who bought a home last year won't be able to take advantage of it.

4. Income limits: The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples. Those earning more than these thresholds may be eligible for reduced credits.

5. Refundable: Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability.

6. Recapture: Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.)

READ MORE ABOUT IT:See the NAR material regarding the $8,000 first-time home buyer credit @ http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home?lid=ronav0019.

Have a great weekend and enjoy the new snow....Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
Cell: 715-699-4040
nathan@garynathan.com
www.garynathan.com

This information was reprinted from the Legal Hottips article as provided by The Wisconsin REALTORS® Association Best of the Legal Hotline Service. This Wisconsin REALTORS® Association Best of the Legal Hotline service is provided for you by the WRA's Legal Affairs Department. The service should be considered a general statement of applicable legal principles. Given this format, it is impossible to fully address all potential legal issues which might apply in any particular situation. A determination of any individual's legal rights in a transaction can only be obtained after complete analysis of the law and its applicability to the particular fact situation.

Housing - The Economic Stimulus Package

Greetings from Hayward, WI home of the American Birkebeiner!

The race is on and town is already buzzing with folks, so be sure to join in the fun and festivities. For the schedule go to: http://www.birkie.com/

Well, President Obama and Congress did it; he signed the $787 billion economic stimulus package into law on Feb. 17; it contains elements that will bolster housing and the economy, that according to National Association of Home Builders Chairman, Joe Robson.

Let's hope this will help to put housing and the economy on the right track; the reports on new house starts has sure been gloomy.

Chief among the housing package is an $8,000 first-time home buyer tax credit for qualified home purchases in 2009. The tax credit does not have to be repaid and is fully refundable. This will remain in effect until Dec. 1, 2009; this should help motivate consumers to utilize it during the critical summer and fall home-buying months.

You can find more information on the first-time home buyer tax credit at http://www.federalhousingtaxcredit.com/.

According to the NAHB, the legislation will also help home borrowers by restoring the higher 2008 FHA, Fannie Mae and Freddie Mac loan limits through the end of this year. The limit will return to $729,750 from the current $625,500 in the highest cost markets. It will also rise in many other areas because the 2008 maximums were based on a more generous formula and, for most areas, higher median prices.

Time will tell whether these initiatives help move things in the right direction.

We have much to be grateful for despite all the difficulties; take care and keep the faith.

Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev & Realty
15617 Railroad St
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

2008 Housing Report & 2009 Birkie Report

Greetings from Hayward, WI!

My broker partners, Chris and Cindi McGrath, were skiing the OO Loop last night and this morning Cindi skied from OO north to the High Point feed station (14K marker) and conditions were perfect. Actually, Cindi said the conditions were the best all year; despite the rain we received this week. Kudos to the Birkie Foundation as they had a big crew out on the trail hand-picking debris off the trail yesterday.

The race is on! The Birkie Trail base is still very solid and should hold up without any problem for the race. See the link below for the Trail Report which is updated daily.

www.birkie.com/?page=1038

The housing statistics for Wisconsin and Sawyer County are finally in for the fourth quarter and year end 2008.

Sawyer County Q4 sales were 50 units which is down from 2007 Q4 sales of 68. The 2008 year end total sales were 213 housing units versus 296 in 2007.

Median prices in Sawyer County held nearly the same in 2008 at $170,000 year end vs. $171,400 for 2007. The fourth quarter of last year actually dipped to $160,000 compared to $177,500 in Q4 of 2007. It is pretty obvious that some short sales and foreclosures had an impact on Q4 median price.

Back to the Birkie - Next weekend is the BIG RACE, the 36th annual American Birkebeiner from Cable to Hayward! One of the many events that makes Hayward a world-class place to be!

Have a wonderful weekend and remember that Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15617 Railroad St.
Hayward, WI 54843
Cell: 715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Money Anyone?

Greetings from Hayward, WI

This week we had a good meeting with local lenders, Angie and Gloria, from Johnson Bank. The good news is that mortgage rates continue to remain low and there is plenty of money available to loan. In addition to that, there are several good first-time home owner loan packages, second-home owner packages and vacant waterfront land monies available. Obviously, one needs to have good credit.

Fortunately, Sawyer County is blessed with great lenders who have solid portfolios and continue to perform well. However, our government must do something to relax the mark-to-market accounting as lenders need the ability to lend for the mortgage and housing industry to recover and thrive. It's really vital to the economy.

The housing market is soft but our local residential property market and economy are faring better than national trends. At the same time it appears that the local existing housing market and home values are remaining fairly stable. If you're building, the good news is that construction pricing is at rock-bottom lows and qualified builders are available.

Next week 2008 Q4 home sales data for Wisconsin and our area should be available so I'll be able to report the latest numbers for last year.

This is a big weekend as the Lions 27th Pre-Birkie ski race kicks off tomorrow at 10:00 am; join us for the fun! I'll be at Mosquito Brook cheering on the racers and handing out goodies.

Life is a Gift…Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com

Sawyer County On The Move

Greetings from sunny and warmer than last week, Hayward!

We had a great week in Sawyer County this past week; I attended two ribbon cutting ceremonies that nets Sawyer County 70 quality jobs. There were many folks on hand to mark the grand openings of the new Great Lakes Renewable Energy Manufacturing Plant and NorthernBridges Health Care. These news jobs obviously contribute a great deal to the local economy in the way of much-needed income.

NorthernBridges is a for-profit employer which provides home health services to people who are disabled and/or elderly within an eleven county area of Northwest Wisconsin. Great Lakes Renewable Energy is a wood pellet manufacturing business that uses "green" production technology to make residential wood pellets for heating. The process provides virtually no
un-natural emissions. Terrific businesses with impressive leadership.

Since the two companies opened their doors, I can tell you that we have had an up-surge in inquiries for business and commercial space from ancillary businesses. Both companies already anticipate that they will grow the number of jobs which certainly will create more new business opportunities.

Add to that the fact that my "favorite" treat place opened its "new doors" just before January 1. Sean and Kara Carlson cut the ribbon on their new digs - Dairy Queen Grill & Chill which is conveniently located just two doors down from my office. They hired 28 new employees to help in the operation of this trademark treats establishment.

Sawyer County certainly has its share of folks who have lost their jobs due to downsizing and restructuring; for that I am certainly sorry and sad. Fortunately we have a strong County Government, a talented and dedicated Sawyer County Development Corporation and business and education leaders that have pulled together and have been working overtime to bring new jobs to our County.

New jobs means more consumer spending on goods and services as well as homes and commercial properties. I consider it a privilege to work with so many great folks and I expect that throughout the year there will be more good news in light of these challenging times.

We had a little snow this week and the trails are in great shape so come up and take advantage; remember that the Pre-Birkie and the Birkie are next month. Come and enjoy Sawyer County and all that it has to offer; I came here 29+ years ago and never left!

Life is a gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com

2009 Looking Ahead

Greetings from Hayward, WI!

There is some interesting information and data on house prices according to a recent article by Stephen Malpezzi in the Wisconsin Real Estate Magazine. Per the National Association of REALTORS® between 1968 and the present day, median household income rose from about $35,000 to about $50,000. On the other hand, the real median NAR house price rose from about $91,000 to a peak just near $220,000 in 2006. The numbers above are after adjustments for inflation, along with related data on median household income.

One surely realizes how this kind of year-after-year growth is not sustainable. Nationally we had 3-5% growth year in and year out which was faster than all other prices, and that was true for much of the decade before the 2006 peak. In Sawyer County we had several years of double digit increases. Fortunately, Wisconsin, and Sawyer County in particular, have fared much better over the past three years than much of the rest of the nation. Most of the Wisconsin housing markets have dipped 8 to 10% from their 2006 peaks.

With all the ups and downs, the U.S. economy (and Wisconsin’s) has turned in an average growth rate, per capita, adjusted for inflation, of around 1.7 percent, for most of the past century.

So what can we expect for 2009? No one has a crystal ball and I certainly won't make any crazy predictions. When we see housing inventories return to half a year’s inventory instead of a year or more we will probably be able to say we are in pretty good shape in the housing sector of the economy. But a great deal will also have to do with what the Fed is doing and will do regarding the overall state of the economy.

Doom and gloom do not have a seat at my table. Personally, I am optimistic that 2009 will be a solid year (see last week's blog) and suggest that all of us be patient during the correction. We will continue to be persistent in providing solid and timely information to buyers and sellers so that they can make informed decisions.

The 26th Annual Lions Pre-Birkie Ski Race is coming up on Saturday, February 7; this is really a great race. Hope all you snowmobilers and skiers are enjoying the snow!

Life is a Gift…Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

More Than $50,000,000 Sold

Hayward, WI Real Estate

Have you heard enough bad news about real estate?

Yes, the market is slower than what it was three years ago, but ponder this. Hayward area real estate offices were involved in sales of more than $50,000,000 in residential waterfront and off-water homes in 2008! There were 113 waterfront home sales and 106 off-water home sales. This does not include any non-MLS homes that were sold. Not bad and the good new is that sales continue despite all the doom and gloom.

As soon as the Sawyer County fourth quarter and year-end numbers from the Wisconsin Realtors Association are available, I will report them to you. They won't be pretty in comparison to other years but remember $50,000,000 plus! People are still inquiring about properties & my day is scheduled tomorrow to show property - even in this weather!

This weekend is the Seeley Hills Classic Ski Race on Saturday and the Birkie Classic Trail Tour this Sunday. The snow is great and the temps are warming up....it is sunny and beautiful today.

Come on up and see us!

Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@cheqnet.net
http://www.garynathan.com/
http://www.haywardwaterfront.com/