Archive for February, 2010

Million Dollar Home Sales in January

Sunday, February 28th, 2010

Million dollar home sales in Southeastern Wisconsin in January. There were 3 sales total.

Mequon, WI

9621 N Columbia Dr

Selling Price: $1,200,000

  • 5 Bedrooms, 4+2 Bath
  • 4,746 Square Feet
  • 3.5 car attached garage
  • Built in 1990
  • 2.0 acres
  • 2008 Taxes: $17,935
  • Original Asking Price: $1,265,000
  • Final Asking Price: $1,265,000
  • Closing Date: 1/19/2010
  • Total Days on Market: 25
  • Finally
a house to fit a gracious, busy lifestyle with no needed remodeling! Sophisticated, yet warm and inviting, this 5 bedroom home is located on 2 acres of mature gardens and is in a prestigious, sought after subdivision. In close proximity to great schools, shopping and recreational opportunities, this property is 15 minutes from downtown Milwaukee. Great taste and superb workmanship throughout.

 

 

Linn, WI

N1917

Selling Price: $1,392,500

  • 6 Bedrooms, 3 Bath
  • 2 car attached garage
  • 2008 Taxes: $15,754
  • Original Asking Price: $1,595,000
  • Final Asking Price: $1,595,000
  • Closing Date: 1/8/2010
  • Total Days on Market: 58
  • Geneva Lake – Priced to Sell! Panoramic views and great frontage make this magnificent home with 6 bedrooms, 3 baths, 2 fireplaces, 2 car attached garage an affordable dream come true!

 

 

Linn, WI

N2013 South Lake Shore Dr Dr

Selling Price: $2,200,000

  • 4 Bedrooms, 8 Bath
  • No garage
  • 0.580 acre
  • 2008 Taxes: $30,892
  • Original Asking Price: $2,495,000
  • Final Asking Price: $1,495,000
  • Closing Date: 1/19/2010
  • Total Days on Market: 25
  • The sale of this lakefront property offers an opportunity for residential or business usage. The property is zoned R-4 and B-3 & it is approx. .58 acres with 161 +/- ft of frontage. Presently there is 1 rental unit at N2013 & a 6 units at N2017 plus multiple rentable boat moorings. Neighboring properties include a very well respected Inn & a new construction family home..

 

 

January Home Sales in Southeastern Wisonsin – $600,000 to $1,000,000

Sunday, February 28th, 2010

Home sales in Southeastern Wisconsin in January. $600,000 to $1,000,000. There were 8 sales total.

Whitefish Bay, WI

5471 N Lake Dr

Selling Price: $630,000

  • 4 Bedrooms, 2.5 Bath
  • 2,513 Square Feet
  • 2 car attached garage
  • Built in 1966
  • 0.140 acre
  • 2008 Taxes: $8,674
  • Original Asking Price: $667,500
  • Final Asking Price: $667,500
  • Closing Date: 1/7/2010
  • Total Days on Market: 114
  • Refurbished including roofline, gorgeous HWF throughout both floors-Sundrenched kitchen w/fabulous granite counters & island. 4 bedrooms are spacious w/great closets-Master Suite w/awesome bath w/extensive use of marble and subway tile. Every inch of this home is lovingly restored and will truly delight your senses! LL REC room is finished to perfection-deck overlooks lush & private backyard.

 

 

Cedarburg, WI

5825 Cedar Creek Rd

Selling Price: $700,000

  • 3 Bedrooms, 3 Bath
  • 5,000 Square Feet
  • 3 car attached garage
  • Built in 1869
  • 4.70 acre
  • 2008 Taxes: $6,170
  • Original Asking Price: $774,900
  • Final Asking Price: $774,900
  • Closing Date: 1/8/2010
  • Total Days on Market: 210
  • Magical country estate set on 4.7 acres (+/-). Restored stone farmhouse. KIT w/cherry cabinets, granite & copper cntrs, 2 pantries, copper cook hood & brkfst bar. Adjoining DR w/built-ins. New MBR suite w/cath ceil, French drs to crtyrd & spa BA. Open 3-story gallery & foyer. Cath ceil & copula in GR. Courtyard w/stone patio. WF’S thruout. Att. 3-car GA. Barn & heated pole barn/studio w/skylights

 

 

Watertown, WI

8952 N County Road A

Selling Price: $709,000

  • 5 Bedrooms, 1 Bath
  • No garage
  • 120 acres
  • 2008 Taxes: $2,702
  • Original Asking Price: $815,000
  • Final Asking Price: $815,000
  • Closing Date: 1/15/2010
  • Total Days on Market: 69
  • This 120+- acre farm with brick home is located in a desirable rural setting adjacent to Watertown city limits. It has 5-6 bedrooms, kitchen, dining room, living room and full bath. There is LP gas heat, central air and full basement. Also includes barn, metal pole building and other out buildings.

 

 

Milwaukee, WI

2604 N Terrace Ave

Selling Price: $925,000

  • 5 Bedrooms, 5.5 Bath
  • 4,899 Square Feet
  • 2.5 car attached garage
  • Built in 1901
  • 0.161 acre
  • 2008 Taxes: $24,617
  • Original Asking Price: $1,195,000
  • Final Asking Price: $995,000
  • Closing Date: 1/25/2010
  • Total Days on Market: 245
  • Elegant, Classic Resurgence Style home in Water Tower Historic District. Experience the utmost in turn-of-the-century architectural detail and craftsmanship.10 ft. ceilings, grande foyer, leaded glass, quartersawn oak floors, marble. No detail has been overlooked. Fully updated to fit today’s lifestyle incl media room on 3rd floor. An absolutely exquisite home, unsurpassed in quality and elegance.

 

 

East Troy, WI

N9271 East Shore Rd

Selling Price: $850,000

  • 5 Bedrooms, 3.5 Bath
  • 3,882 Square Feet
  • 2.5 car detached garage
  • Built in 1965
  • 0.414 acre
  • 2008 Taxes: $15,219
  • Original Asking Price: $1,225,000
  • Final Asking Price: $997,500
  • Closing Date: 1/4/2010
  • Total Days on Market: 667
  • Contemporary 5BR, 3.5BA home on 170ft of level frontage-sand bottom. Kitchen has fireplace & hardwood floors with a panoramic view of the sparkling lake. There is a in-law suite in lower walkout- separate entrance. Large boat house for all your toys. Professionally landscaped. Truly a great home for all your needs.

 

 

Kenosha, WI

7220 1st Ave

Selling Price: $892,000

  • 3 Bedrooms, 3 Bath
  • 3,617 Square Feet
  • 2.5 car attached garage
  • Built in 1991
  • Between 0.50 and 1.0 acre
  • 2008 Taxes: $14,722
  • Original Asking Price: $1,099,000
  • Final Asking Price: $1,099,000
  • Closing Date: 1/11/2010
  • Total Days on Market: 62
  • Exceptional offering on a picturesque half-acre offering panoramic views of Lake Michigan. Unsurpassed quality & workmanship have created an architecturally stunning showplace. Incredible appointments & exquisite dĂ©cor make this home unforgettable. Distinctive kitchen, custom built-ins, innovative lighting & security system, captivating setting & unrivalled views define this magnificent creation.

 

 

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January Home Sales in Waukesha and Milwaukee Counties – $400,000 to $600,000

Saturday, February 27th, 2010

Home sales in Waukesha and Milwaukee Counties in January. $400,000 to $600,000. There were 13 sales total.

Lisbon, WI

N84W27677 Twin Pine Cir

Selling Price: $400,000

  • 3 Bedrooms, 2 Bath
  • 2,101 Square Feet
  • 3.5 car attached garage
  • Built in 2009
  • 1.0 acre
  • 2008 Taxes: $1,328
  • Original Asking Price: $415,900
  • Final Asking Price: $413,000
  • Closing Date: 1/4/2010
  • Total Days on Market: 285
  • Built by Aspen Homes. Energy star and Green Built Certified, this 2119 sqft ranch showcases casual elegance. Two covered porches, great open floor plan, gourmet kitchen with granite and walk in pantry, large dinette, alder/cherry cabinets and floors, painted wood trim, master with custom tile shower, southern exposure, partial exposure in basement with windows, three car garage, arrowhead schools

 

 

Menomonee Falls, WI

W133N6205 Hummingbird Way

Selling Price: $451,000

  • 5 Bedrooms, 4 Bath
  • 3.5 car attached garage
  • Built in 2009
  • Between 0.25 and 0.50 acre
  • 2008 Taxes: $0
  • Original Asking Price: $464,750
  • Final Asking Price: $464,750
  • Closing Date: 1/6/2010
  • Total Days on Market: 31
  • Rare opportunity to own a”PERTHEL BROTHERS”walk-out & finished exposed 5BR,4 full bath 2-sty on a beautiful oversized Harmony Hills lot overlooking the 4 acre private preserve.Amazing Kitchen with Tile floors,granite snack bar opens to GR,elegant&unique FP.HUGE whirlpl”suite”wrapped in tile,his & hers WI closet.Gorgeous wrought iron cat walk stair.Incld.DRIVEWAY,DECK,patio and Landscaping

 

 

Oconomowoc, WI

N66W38360 Deer Creek Ct

Selling Price: $457,500

  • 4 Bedrooms, 3.5 Bath
  • 3,146 Square Feet
  • 3 car attached garage
  • Built in 2002
  • 1.187 acre
  • 2008 Taxes: $6,648
  • Original Asking Price: $509,900
  • Final Asking Price: $488,900
  • Closing Date: 1/15/2010
  • Total Days on Market: 314
  • Stunning 2002 Contemporary on very private lot backs to forest preserve with awesome views from every window! Three fireplaces, Open Foyer, & oak hardwood floors. Kitchen has maple cabinets, double ovens, pantry & wet bar–open to great room. First floor office/bedroom with full bath. Relax in Master suite with whirlpool, granite, shower & fireplace. Exposed lower level plumbed for 4th bath.

 

 

Muskego, WI

S83W13035 Hawks Trail

Selling Price: $474,000

  • 4 Bedrooms, 3.5 Bath
  • 2,939 Square Feet
  • 3.5 car attached garage
  • Built in 2005
  • 0.56 acre
  • 2008 Taxes: $7,382
  • Original Asking Price: $499,000
  • Final Asking Price: $489,000
  • Closing Date: 1/20/2010
  • Total Days on Market: 65
  • On Cul de sac, architectural details appealing & welcoming from moment you enter front door.Kit/din SS appliances w/dblovens,HWF’s,granite w/breakfast bar. Open concept KIT/GR w/18′ceiling & floor/ceiling windows flank NFP, ideal for entertaining. Main Mstr Ste w/tray ceilings,spa-like BA w/ceramic tile, whirlpool,frameless shower, dualsink/cabinets. LL family living area w/wet bar, 3rd BA, & Den

 

 

Genesee, WI

S40W30402 Hamilton Dr

Selling Price: $428,000

  • 3 Bedrooms, 3.5 Bath
  • 3,634 Square Feet
  • 3.5 car attached garage
  • Built in 2006
  • 1.13 acre
  • 2008 Taxes: $6,365
  • Original Asking Price: $579,900
  • Final Asking Price: $499,900
  • Closing Date: 1/7/2010
  • Total Days on Market: 1039
  • Incredible open concept ranch-style 3 bedroom, 3.5 bath home on a cul-de-sac. Quality & luxury is built throughout this home. A gourmet KT, great room with GFP, formal dining room, main floor laundry room, finished lower level, rec room & family room are some of the features. A gorgeous MSTR Suite with two walk-in closets, dressing area, walkout to a deck, whirlpool, double vanity & shower stall.

 

 

Elm Grove, WI

14655 Hillside

Selling Price: $475,000

  • 3 Bedrooms, 2 Bath
  • 2,749 Square Feet
  • 2.5 car attached garage
  • Built in 1955
  • 1.135 acre
  • 2008 Taxes: $8,619
  • Original Asking Price: $560,000
  • Final Asking Price: $560,000
  • Closing Date: 1/15/2010
  • Total Days on Market: 163
  • Incredible opportunity – 1.135 acres in INDIAN HILLS. Stone ranch with great lines on a gently sloping lot,Elm Grove’s premier address. Open floor plan, family rm w/3 sides of floor to ceiling windows & NFP, formal dining rm, rec rm w/NFP, bright,spacious LR w/NFP, pool, remodel to create your dream home.

 

 

Brookfield, WI

3270 Dartmouth Dr

Selling Price: $540,000

  • 5 Bedrooms, 4 Bath
  • 3,331 Square Feet
  • 3 car attached garage
  • Built in 1994
  • 0.520 acre
  • 2008 Taxes: $10,044
  • Original Asking Price: $572,900
  • Final Asking Price: $572,900
  • Closing Date: 1/21/2010
  • Total Days on Market: 92
  • Super clean, spacious home in lovely Stanford Place. Begin w/ the gorgeous lot, then step inside & enjoy the space & amenities this home affords. HWFs, open floor plan, great flow for living. Main floor BR w/ adjacent BA is great for guests. Master suite incl large attached personal space to use as you wish. Finished, exposed LL includes 4th full BA. Many wonderful updates to this fine home!

 

 

Hartland, WI

355 N Sunshine

Selling Price: $525,000

  • 4 Bedrooms, 2.5 Bath
  • 3.5 car attached garage
  • Built in 2008
  • Between 0.50 and 1.0 acre
  • 2008 Taxes: $2,289
  • Original Asking Price: $609,900
  • Final Asking Price: $599,900
  • Closing Date: 1/19/2010
  • Total Days on Market: 121
  • ”PRICE DRASTICALLY REDUCED”, New Construction – Walking distance to Swallow Elementary School. First Floor Master bedroom and office. Brazilian Cherry hardwood flooring. Marble countertops. Marvin Wood Windows and 13 course basement. ”DON’T MISS THIS GREAT BUY”!

 

 

Milwaukee, WI

3124 Summit Ave

Selling Price: $440,000

  • 5 Bedrooms, 2.5 Bath
  • 2,698 Square Feet
  • 2.5 car detached garage
  • Built in 1898
  • 0.110 acre
  • 2008 Taxes: $9,091
  • Original Asking Price: $489,900
  • Final Asking Price: $479,900
  • Closing Date: 1/4/2010
  • Total Days on Market: 266
  • Beautifully updated home w/loads of charm! Main level boasts grand, open staircase, detailed woodwork, 10 ft ceilings, HWFs, updated KIT w/butler’s pantry & spacious LR w/NFP. 2nd floor features 4 BRs w/HWFs & remodeled bath. Luxurious MBR suite w/updated bath featuring marble shower, whirlpool tub & dual vanity complete the 3rd level. Professionally landscaped fenced-in yard & new 2.5-car GA.

 

 

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Washington and Ozaukee County Homes Sales in January – $300,000 to $400,000

Friday, February 26th, 2010

Home sales in Ozaukee and Washington Counties in January. $300,000 to $400,000. There were 9 sales total.

Mequon, WI

10041 N Sheridan Dr

Selling Price: $335,000

  • 4 Bedrooms, 2.5 Bath
  • 2,684 Square Feet
  • 2.5 car detached garage
  • Built in 1956
  • 0.60 acre
  • 2008 Taxes: $5,611
  • Original Asking Price: $365,000
  • Final Asking Price: $335,000
  • Closing Date: 1/29/2010
  • Total Days on Market: 67
  • Handsome, well cared for John Spoden Colonial in friendly Fairy Chasm. Wonderful neighborhood w/pvt paths to Lake Michigan. 3 NFP in LR, FR, den. LR with crown moldings. Formal DR w/corner CC. Kitchen w/knotty pine cabs, BI desk & buffet, opens to FR w/built-in cabs & hwf. Enjoy views of patio & peaceful back yard from cozy den. Lg MB suite w/adjoining bath, maple floors in 3 oversized bedroom.

 

 

Richfield, WI

4288 Lamplighter Ln

Selling Price: $335,000

  • 4 Bedrooms, 2.5 Bath
  • 2,599 Square Feet
  • 5.5 car attached garage
  • Built in 1985
  • 1.50 acre
  • 2008 Taxes: $4,116
  • Original Asking Price: $398,500
  • Final Asking Price: $369,900
  • Closing Date: 1/15/2010
  • Total Days on Market: 84
  • Must See Inside Updates 6 yr old! Spacious Colgate ranch w/exten remodel. Open concept KIT/DR area w/ cathedral ceiling, maple custom cabs, Granite tops, breakfast bar, ceramic tile floors, SS appliances. Great view! Features 5+ car GA, LR w/ fireplace & cath ceilings, pella windows, finished LL w/ extra rms, above gr pool, brick exterior. 6 Yr mechanicals & roof. Privacy at dead-end road.

 

 

Polk, WI

3470 County Road CC

Selling Price: $331,500

  • 3 Bedrooms, 2.5 Bath
  • 2,555 Square Feet
  • 2.5 car attached garage
  • Built in 1979
  • 6.10 acres
  • 2008 Taxes: $4,802
  • Original Asking Price: $389,900
  • Final Asking Price: $389,900
  • Closing Date: 1/28/2010
  • Total Days on Market: 419
  • Gorgeous wooded lot. The winding driveway takes you through the woods to a beautifully manicured yard. This 2500 sq. ft., 3 bedroom ranch has a huge family room with cathedral ceiling and natural fireplace, kitchen is open to family room and has sliding glass doors to a large deck overlooking woods. Exposed lower level with finished rec. room and cedar closet. Pole Barn on property 36×30 ft.

 

 

Grafton, WI

1695 Aqua View Ct

Selling Price: $380,000

  • 3 Bedrooms, 2.5 Bath
  • 2,538 Square Feet
  • 6 car attached garage
  • Built in 2000
  • 2.40 acres
  • 2008 Taxes: $5,094
  • Original Asking Price: $635,000
  • Final Asking Price: $575,900
  • Closing Date: 1/13/2010
  • Total Days on Market: 184
  • Take advantage of the new extended government tax credit!$47,000 below appraisal.Quality built 3/4 bdrm,2.5 bath home on quiet cul de sac w/frontage on 15 acre private lake.1st floor MB suite, fieldstone NFP in GR.Very bright open concept,lovely home,huge deck overlooking lake.4 car heated,A/C garage plus 2 car detached garage,Private beach & pier,country living at its best.Get your offer in today

 

 

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Cars And Foreclosures

Thursday, February 25th, 2010

Can rates of car ownership predict mortgage performance?

According to some new research from two environmental groups, the answer is yes.

The National Resources Defense Council, an environmental advocacy organization, and the Center for Neighborhood Technology, a Chicago group that promotes urban sustainability, have completed a study of 40,000 mortgages in three cities over a 30-year period. After controlling for income, the groups found that the probability of mortgage foreclosure increased as neighborhood car ownership levels rose.

In other words, “location efficient” communities – where public transit options are available – can contribute to the financial stability of its residents. The reasoning: If the homeowners don’t need to own a car, they can save money on transportation costs (including lease and purchase costs, maintenance, insurance, gas and parking). They are then better positioned to weather negative financial circumstances – say, a spike in the price of gas or a job loss. (Transportation costs account for roughly 17% of the average American household’s expenditures, the second-largest budget item behind housing, according to 2008 figures from the Bureau of Labor Statistics.)

The report recommends that lenders include measures of location efficiency and borrowers’ transportation costs in their underwriting decisions – “providing proportionally better borrowing terms for purchasers of location-efficient homes,” the report says. But Jennifer Henry, the real estate sector manager in the Center for Market Innovation at the NRDC, says that location efficiency isn’t a determining factor in mortgage default or foreclosure – it’s an additional characteristic that, when taken into account, “makes your ability to predict foreclosure more accurate.”

Indeed, the link between transportation expenses and ability to pay the mortgage is somewhat tenuous, says John Taylor, president of the National Community Reinvestment Coalition, a housing advocacy group. Transportation costs represent “a tangential relationship” to mortgage default, he says. For homeowners who are behind on their mortgage – because of a job loss or an increased monthly payment – getting rid of a car might help only so much. Job loss and unsuitable mortgages with unsustainable terms and conditions are more directly tied to foreclosure, adds Taylor.

Talk of how “walkability” boosts home values isn’t new. A study by CEOs for Cities, a network of urban leaders and corporate executives, published last year found a positive correlation between an area’s walkability – proximity to shopping, services, schools and parks – and housing prices in 13 of the 15 housing markets studied.

“Prices of property around transit-oriented developments – especially new developments – have increased or at least kept their value,” says Sarah Catz, a research specialist at the University of California, Irvine’s Institute of Transportation Studies. Catz says she is currently doing research that shows that property increases in value when you bring transit into a region or area.

A mortgage product based in part on a borrower’s access to public transit has existed. The Center for Neighborhood Technology (in partnership with Fannie Mae) developed a location-efficient mortgage program in the 1990s. Just a few cities experimented with these products, including Seattle and Chicago, but only about 300 of the mortgages were made, says Henry, but none went into default.

Under the program, which no longer exists, a statistical model calculated the monthly savings a typical household would realize based on the property’s proximity to local services and public transportation and how walkable the area was. That amount would be added to their income, which would reduce the borrower’s debt-to-income ratio, thus potentially qualifying them for a bigger mortgage on the theory that with lower transportation costs, they could afford it, says Diane Wasson, a vice president at Home Street Bank in Seattle, who was involved in the program. (Debt-to-income ratio is one of several criteria, including loan-to-value ratio and credit history, lenders use to consider an application.)

Getting lenders to incorporate this into their practices might be a stretch. But last year the House passed a bill that would promote energy- and location-efficient mortgages for home buyers through incentives from Fannie Mae and Freddie Mac. And a spokeswoman from the Department of Housing and Urban Development (HUD) says supporting location efficiency in community development practices is absolutely a priority for the agency. “If we can reduce energy and transportation costs through more location efficient housing, it will make homes more affordable generally, and thus reduce the risk of foreclosures,” she says.

Read more: No Car, No Foreclosure? at SmartMoney.com http://www.smartmoney.com/personal-finance/real-estate/no-car-no-foreclosure/#ixzz0gTAtxV8S