Robin's Real Estate Blog, Madison WI

Spring is here!

2011-04-16T09:53:00.000-07:00

It might be cold outside, but spring is here. Today is the first Farmer's Market and I can't go because I'm having fun with clients and friends! Enjoy your Saturday, Robin

Madison is #1 for Men's Health!

2011-01-27T11:32:00.000-08:00

Madison is ranked as the #1 city for men's health! Check out this article. http://health.msn.com/healthy-living/articlepage.aspx?cp-documentid=100269138&page=1

Ward Off a Brain Attack: The men of Madison have the second lowest rate of death from strokes. Credit well-timed medical intervention. "Madison is a community with a high proportion of doctors, and people take advantage," says Matthew Jensen, M.D., a professor of neurology at the University of Wisconsin at Madison. If your BP is inching up, see your M.D.: Research published in the Journal of General Internal Medicine showed that people who regularly followed up with their doctor to manage their blood pressure were less likely to die during the study period than those who stayed away

I'm Back!

2011-01-27T11:31:00.001-08:00

Wow, I just returned from the Mexican Carribean, thanks to Dave Stark! About 20 agents went on the trip and we had a blast. Photos coming soon!

Madison is #7 on Top 10 Best Places to Buy a Home in 2011!

2011-01-13T09:15:00.001-08:00

10 Best Places to Buy a Home in 2011

Diane Wedner
Dec 31st 2010 at 9:00AM

Filed under: Real Estate

Last decade's bipolar housing market is over. The ups, the downs, the thrills, the spills -- largely behind us. Yes, prices and sales are stuck in neutral in large swaths of the country.

But let's ring in the new decade optimistically, with Walletpop's Top 10 List of the Best Places to Buy a Home in 2011. This mostly unscientific and partially-biased list is based on a grab-bag of lifestyle priorities and, yes, thorough reporting.

Here we go, in no particular order:

1. Austin, Texas: Best All-Around City
Population: 799,267
Median home price: $119,788
Why here: Texas' capital and a great college town, Austin is beautiful and the 12th-most-affordable American metro area. Job growth from 2000 to 2010 was 14.1%, according to Trulia; unemployment currently is 7.1%, compared with 9.8% nationwide. The city's population is growing too. These positive indicators are expected to continue in the coming decade. Fortune 500 companies abound here; it's home to more than 2,000 tech companies. Home prices are reasonable for the $73,747 median family income and let's face it, nobody does BBQ better than Texas.

2. Deerfield Beach, Florida: Most Affordable Town With a View
Population: 74,584
Median home price: $89,400
Why here: There may be cities with lower median prices (not many), but I'm guessing you need a down coat to live there. This burg comes complete with year-round warm weather and beachfront properties that not too long ago cost a bundle ($400,000+). It's close to Fort Lauderdale and Miami, where residents can go for professional sports and cultural events.

3. Broomfield County, Colorado: Best Jobs
Population: 55,000
Median home price: $239,000
Why here: Jobs! It also doesn't hurt that the county is tucked between Denver and Boulder, so the scenery is nice too. Job growth in this area exploded 50% during the last decade. High-tech giants Oracle, Ball Corporation and VMware employ lots of folks, and IBM and Avaya are nearby. If you're college-educated, you're in good company: About 38% of the county's residents hold a bachelor's or higher degree, according to the Broomfield Economic Development Corporation. If you ski and hike, we're talkin' bliss!

4. Durham, NC: Best City to Retire In
Population: 223,284
Median home price: $178,700
Why here: Since we're talking about retiring, first on the list of pluses is Duke University's renowned medical center. Also, Duke's popular senior learning program offers 100 courses every term, on campus. So if golf's not your game, but mathematics is, there you go. If, however, golf is your game -- you've got that too. Plus Broadway hit shows, concerts and lots of places to hike. Home prices are a steal for what you get.

5. Woodbury, Minnesota: Best Place to Raise Kids
Population: 58,515
Median home price: $240,100
Median home price: There are so many great places to raise kids, but this suburb 10 miles from St. Paul has a lot going for it. Yes, winters are cold (not a small thing), but it's Minnesota -- we're talking thousands of lakes. Woodbury has 100 miles of trails for hiking and biking, and is a stone's throw from thousands of acres of parkland. The schools are great, including the Math & Science charter school. 3M employs multitudes, as does state government. What's not to like? OK, the winters. Deal with it.

6. Warner Robins, Georgia: Best Military Town For the Buck
Population: 53, 629
Median home price: $110,400
Why here: Located midway between Atlanta and Savannah, Warner Robins' housing affordability is the big draw. The median price of a home is $110,000, while the median family income is about $63,000. That leaves some extra dough to hit the local aviation museum, motor speedway and golf club. The city's main employer is the military (home of Robins Air Force Base), bringing engineers and employees from around the globe, so the population is eclectic. The city fared well during the recession.

7. Madison, Wisconsin: Best College Town
Population: 562,000
Median home price: $209,400
Why here: A gem of a city located between two lakes, Madison is where it's happening in the Midwest. Home of the state's capital, it's got a top-rated, Big 10 university (with all the sports and cultural events that come with it); affordable housing; tons of eateries and shopping; smart people; friendly atmosphere. You don't have to be a student or the parent of one to buy a home here. A never-ending supply of renters keeps your investment solid. You may end up living here yourself.

8. Pocono Mountains, Pennnsylvania: Best Vacation-Home Location For the Price
Population: 340,000 for the whole region
Median home price: $110,000 for Pocono Lake; prices vary throughout the region
Why here: Year-round playground, with skiing in winter, equestrian activities in spring, summertime sailing and hiking in autumn. You can get a two-bedroom home with 1,256 square feet for $99,999 in Mount Pocono; a three-bedroom cottage in 1,255 square feet is listed for $139,000 in Pocono Pines, according to HomeAwayRealEstate.com.

9. Portland, Oregon: Best City For Gen-Y
Population: 551,302
Median monthly rent: $1,200
Why here: It's green (literally and figuratively) and it's gorgeous. Rents are a bit higher, but some big companies pay well, such as Intel, Kaiser Foundation Health Plan, Legacy Health System, Fred Meyer Stores. The attitude is way-laid back and there are tons of venues for merry-making: music clubs, coffee shops and art galleries. When it's not raining, you can bike through the city, hike Mt. Hood and hit the zillions of hiking trails nearby.

10. San Francisco: Best City, Period, Price Be Damned
Population: 815,358
Median home price: $628,000
Why here: If you have to ask ... The Golden Gate Bridge, Golden Gate Park, the Bay, the hills, the views, the museums, street cars, cable cars, clubs, nightlife, architecture, coffee houses, bookstores for bibliophiles (City Lights, anyone?), hiking and biking everywhere, Tony Bennett (OK, just in your head), famous hotels and restaurants. Yes, it's foggy in summer, but who cares?

Sources, median home prices: trulia.com and zillow.com

New smoke alarm and carbon monoxide detectors information

2011-01-10T14:25:00.001-08:00

Carbon Monoxide Resources
CO alarms brochure at http://commerce.wi.gov/sb/docs/SB-PubCarbMonoBroch209.pdf
Minimum Carbon Monoxide Detector Locations for Multi Unit Residential Buildings at http://commerce.wi.gov/SB/docs/SB-FirePreventionCoLocations1010.pdf.
The statutes for one- and two-family dwellings are found in Wis. Stat. § 101.647 (pages 49-50 of http://legis.wisconsin.gov/statutes/Stat0101.pdf) and the pertinent rules are found in Wis. Admin. Code § Comm 21.097 on pages 9-10 at http://legis.wisconsin.gov/rsb/code/comm/comm021.pdf.
The statutes for multi-family dwellings are found in Wis. Stat. § 101.149 (pages 36-37 of http://legis.wisconsin.gov/statutes/Stat0101.pdf) and the pertinent rules are found in Wis. Admin. Code § Comm 62.1200 on pages 9-10 at http://legis.wisconsin.gov/rsb/code/comm/comm062.pdf.

Smoke Alarm Resources
Smoke alarms and carbon monoxide detectors in dwellings: http://commerce.wi.gov/SB/docs/SB-UdcAlarmsDraftComm028.pdf
Brochure for one and two family dwellings (smoke alarms and CO detectors): http://commerce.wi.gov/SB/docs/SB-UdcAlarmsFeb11.pdf
Smoke alarm brochure: http://commerce.wi.gov/SB/docs/SB-SmokeAlarmBroch8282.pdf
The statutes for smoke detectors are Wis. Stat. § 101.145 (page 35 of http://legis.wisconsin.gov/statutes/Stat0101.pdf) and Wis. Stat. § 101.645 (page 49 ofhttp://legis.wisconsin.gov/statutes/Stat0101.pdf).

Tax law changes from Heather Richter at Wegner CPA

2011-01-10T09:54:00.000-08:00

Tax Relief act extends breaks for individuals and businesses

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, signed into law Dec. 17, extends and expands a wide variety of valuable tax breaks and includes tax provisions affecting individuals and businesses. Here’s a brief summary of the most important provisions.

Individual tax provisions

General:

New two-percentage-point payroll tax cut for 2011
Extension of the lower ordinary income tax rates for all tax brackets through 2012
Extension of marriage penalty relief through 2012
Extension of the elimination of itemized deduction and personal exemption phaseouts through 2012
Extension of the deduction for state and local sales taxes in lieu of state and local income taxes through 2011
Extension of the increased alternative minimum tax (AMT) exemptions through 2011
Extension of the ability to offset AMT liability with certain nonrefundable personal credits through 2011

Investing:

Extension of the lower long-term capital gains rates through 2012
Extension of the lower qualified dividend tax rates through 2012
Extension of the 100% gain exclusion on certain qualified small business stock to stock acquired through 2011

Children and education:

Extension of the $1,000 child credit and other enhancements of the credit through 2012
Extension of the higher adoption credit and income exclusion for employer-provided adoption assistance through 2012
Extension of the higher dependent care credit through 2012
Extension of the American Opportunity education credit through 2012
Extension of the above-the-line tuition and fees deduction through 2011
Extension of the income exclusion for employer-provided education assistance through 2012
Extension of the enhancements to the student loan interest deduction through 2012
Extension of the $2,000 Coverdell Education Savings Account contribution limit and other enhancements through 2012

Charitable giving:

Extension of the ability to exclude from income direct contributions from IRAs to qualified charities (up to $100,000 annually) through 2011
Extension of the ability to take a larger deduction for donations of long-term capital gains real property for conservation purposes through 2011

Estate planning:

Reinstatement of the estate tax for 2010 with a top rate of 35% and a $5 million exemption (compared to 45% and $3.5 million for 2009)
Option for estates of taxpayers who died in 2010 to elect to follow the pre–Tax Relief act regime — no estate tax but limits on step-up in basis for transferred assets
Reinstatement of the generation-skipping transfer (GST) tax for 2010 at a 0% rate with a $5 million exemption (compared to 45% and $3.5 million for 2009)
Decrease in the top estate and gift tax rates and the GST tax rate to 35% for 2011 and 2012
Increase in the estate, GST and gift tax exemptions to $5 million for 2011, indexed for inflation in 2012
Ability of the estate of a taxpayer who dies in 2011 or 2012 to elect to allow the surviving spouse to use the deceased’s unused estate tax exemption

Business tax provisions

Investment incentives:

Increase in bonus depreciation to 100%, generally for assets placed in service after Sept. 8, 2010, and before Jan. 1, 2012
Extension of 50% bonus depreciation, generally for assets placed in service Jan. 1, 2012, through Dec. 31, 2012
Increase in the Sec. 179 expensing limit to $125,000 (indexed for inflation) for 2012
Increase in the Sec. 179 expensing phaseout threshold to $500,000 (indexed for inflation) for 2012
Extension of accelerated depreciation for qualified leasehold-improvement, restaurant and retail-improvement property through 2011

Tax credits:

Extension of the research credit through 2011
Extension of the Work Opportunity credit through 2011

Charitable giving:

Extension of the enhanced deduction for food inventory donations through 2011
Extension of the enhanced deduction for donations of book inventory to public schools through 2011
Extension of the enhanced deduction for computer inventory donations for educational purposes through 2011

Just the tip of the iceberg

As you can see, the Tax Relief act includes numerous provisions, and we’ve only touched on some of them here. Many breaks are subject to a variety of rules and limitations, so it’s important to discuss them with your tax advisor to determine exactly how they’ll affect you. We’d be pleased to help.

If you have any questions or want more information, please feel free to contact me at heather.richter@wegnercpas.com or at 608-442-1970.

Happy New Year!

2010-12-30T08:38:00.000-08:00

Some New Year thoughts from Dave Stark. I couldn't agree more!

As we come to the end of another tumultuous year in real estate, I’ll indulge in the time honored tradition of musing on what we’ve learned over the past year, and where we’re going in the year upcoming.
In many ways, 2010 was as instructive a lesson in human nature as one could possibly imagine. In the first half of the year, first time home buyers tripped over each other to take advantage of an $8000 tax credit. In the second half of the year, with record low interest rates and affordability, buyers were passive. Why should this be? We’re reminded that fear is always more motivating than desire, and the tax credit had one thing going for it that the current environment doesn’t: a deadline. So, fear of missing out on a freebie overcame fears of buying at the wrong time. While today’s low rates and reasonable prices are more valuable in economic terms than the tax credit was, the lack of a deadline leads to a lack of urgency. That leaves the field open to the fear of the future direction of the market, overcoming the desire to buy at a manifestly favorable time. With an $8000 incentive, it’s great! Without one, ho hum. Nothing else has changed, but the behavior certainly has.
What we’ve learned in 2010 is that human nature is immutable, and to be successful, one must work with it, not against it. We’ve also learned that people still want to own a home, but they need confidence to do it. What we’ve known forever is that markets always seek equilibrium over time, and while the real estate market has not yet found equilibrium, it will. And finally, we know that over time, the demand for housing of all types will continue to grow, since people will always need a place to live. With those truths in mind, here’s how we’re approaching 2011.
One of our core beliefs is that real estate markets are fundamentally built on change more than growth. People move because of changes in their lives, and when the need becomes acute enough, they find a way do it. Over 12,000 families bought or sold homes in Dane, Sauk and Columbia counties in 2010, and somewhere around that many will do so again in 2011. As they do so, they’ll work though the inventories we have, and prices will eventually start back up. Current homeowners will start to come back in greater numbers to move up as they start to believe they can get what they think they need out of their homes again, further increasing demand. Inventories will fall, turnover will increase, and optimism will return. In other words, the market will continue to work its way back to equilibrium, because that’s what they always do.
So will 2011 be a good year? It will be a great year for those who have change in their lives and act on it to their benefit. Human nature being what it is, there will be those who stand pat, waiting to see what happens. Their lives will be put on hold, and it will be their choice. For those who want to move on with their lives, their lives will improve. Because in the end, that’s what real estate is all about…living the kind of life you want to live. Nothing defines that more for us than our homes. If your goal is to improve your life, the best time to do it is always right now.
Happy new year.

Housing Undervalues by 14%

2010-12-13T13:17:00.001-08:00

Research Firm Says Housing Currently Undervalued by 14% to 17%

December 13th, 2010

Today’s post contains a link to another article, which was first sent to me and other real estate professionals in Real Trend’s periodic email update on the industry. The article itself is from a web site called DS News.com, which bills itself as a site “delivering stories…impacting the mortgage default servicing industry.”

The article itself, as you’ll see as you’ll see, cites research by a group called “Capital Economics,” and it cites a number of other sources in arriving at the conclusion that overall, housing prices are now 14% to 17% undervalued “relative to disposable income per capita.” Low interest rates also play into the affordability mix. The point, as we’ve been saying for months, is that today’s buying opportunity is……Click Here To Continue Reading

Stark Company Wins 1st Place again!

2010-12-08T11:32:00.001-08:00

Stark Company Realtors has again won 1^st PLACE in the 2010 In Business Executive Choice Awards as the “Preferred Real Estate Company” to do business with in the Madison area.

New website coming

2010-12-06T11:41:00.000-08:00

Here's a sneak preview...

You’re ready to buy or ready to sell a home

How hard could it be?

You talk to some friends.

You go to the library.

You search the internet.

You drive around neighborhoods you like.

You start making lists of things to do.

You’re looking for answers

But your list of questions keeps growing.

How long will this take?

How much will this cost?

How do I get the best deal?

Where am I going to find the time to do this right?

How do I make sure nothing falls between the cracks?

Should I get a realtor or do this on my own?

How do I know whose advice to listen to?

Where do I find some help I can trust?

And maybe you’re starting to think that this whole real estate thing is harder than it seems

The Guernsey Real Estate Group makes real estate easier

Anyone who tells you that buying or selling a home is easy is kidding himself (or trying to kid you). Unless you do real estate all the time, doing real estate right is really hard. Even if you do real estate all the time, doing real estate right can be hard.

Working with someone who does real estate right all the time doesn’t make the job easy, but it can make the job easier. Realtor Robin Guernsey and her team can make buying or selling a home easier, especially if this is your first time.

Whether you’re pricing a home to sell or looking for the perfect home to buy, Robin Guernsey can answer your questions, including some that you might have not even thought to ask yet. She can even answer the one about whether a realtor could help you.