Brenda Carus

As the consumer lending market tightens, home buyers who do not have at least a 5% down payment for a home are finding it difficult to obtain financing for a home purchase. Traditionally, these buyers have had the option of getting an FHA loan if they have a 3% downpayment or utilizing Rural Development for their mortgage if they don't. Rural Development is currently not lending, however. Legislation is in the works to continue funding this government program, but until then, they are not lending.

Fortunately, another government agency has begun lending once again. WHEDA (Wisconsin Housing and Economic Development Authority) had suspended lending last year due to issues with the private mortgage insurance market. WHEDA loans are once again an option for buyers now, though.

WHEDA's newest loan program is WHEDA Fannie Mae Advantage. This loan allows buyers to purchase a home with as little as $1,000 down. WHEDA Advantage has a competitive, low interest rate and does not require any private mortgage insurance, making for a very affordable mortgage payment for consumers.

WHEDA loans are a very savvy option for home buyers. A home seller who is given an offer with a WHEDA pre-approval letter can have a measure of confidence in the offer. WHEDA does a very strict pre-approval process, fully documenting a buyer's ability to afford a mortgage before the pre-approval is given. WHEDA also requires home buyer to complete an education course before the loan is given, helping to insure that a buyer understand the mortgage loan they are taking out.

All the local banks are able to work with WHEDA, so talk with the mortgage broker at your bank about this great option.

Carbon monoxide detectors are a good thing to have in a home.

Carbon monoxide is an odorless, colorless gas that is produced when a fuel is burned. Natural gas, wood, oil, liquid propane - all produce carbon monoxide. If the ventilation system for your furnace, heating stove or fireplace become blocked or stops working properly, carbon monoxide can seep in to your home without you ever being aware. This gas can be deadly, so a carbon monoxide detector can truly be a lifesaving device.

Carbon monoxide detectors are much like smoke detectors. They can be battery operated or electric, either hard-wired or plug-in. Like smoke detectors, it is recommended to have one on every level of your home. Placement in the hallway near any sleeping areas is highly recommended. The cost generally runs about $35-45 per detector. Dual smoke detector/carbon monoxide detectors are available as well for a little bit more.

Starting February 1, 2011, carbon monoxide detectors will be required in all residential properties. Now, the government is not going to come in to existing homes to insure that these are present and there is no penalty for non-compliance, but all home inspectors must check for carbon monoxide detectors effective that date.

Carbon monoxide detectors are good things for every home owner to have, but anyone who is considering selling a home should be aware of the changing laws. Pick up a couple detectors now and save yourself trouble later. Anything home sellers can take care of a simple fix to prevent a home buyer stressing over the inspection report, it is a good thing.

Hopefully that is the only thing that carbon monoxide detector will ever have to save, but it is good to know that if you need it, the detector will be there for you.

Image from First Alert.

Market report time. What happened with the County, Wisconsin real estate market last month? Regarding the number of single family homes that sold in Green County in March of 2010:

• 19 homes sold in March of 2010,
• The homes were on the market for an average of 110 days,
• The average sale price was $128,452,
• The median sale price was $110,000,
• The highest priced property sold was $358,000,
• The lowest priced property sold was $25,000.

Let's compare with March of 2009:

• 25 homes sold in March of 2009,
• The homes were on the market for an average of 112 days,
• The average sale price was $142,654,
• The median sale price was $1118,500,
• The highest priced property sold was $513,500,
• The lowest priced property sold was $25,000.

Days on market has stayed steady, and the the change in median sale price was pretty minimal. Steady is a good thing. Out of curiosity, I pulled the same statistics from 2003, a time when no one was complaining at all about a real estate market prices.

• 26 homes sold in March of 2002,
• The homes were on the market for an average of 85 days,
• The average sale price was $108,042,
• The median sale price was $109,000,
• The highest priced property sold was $225,000,
• The lowest priced property sold was $30,000.

Median sale prices, average sale prices, and highest priced property are all significantly higher in 2010 than eight years ago. This is what happens with regard to pricing throughout history. Seeing that the trend is continuing, even with the difficulties we've had in the real estate market over the last few years, it is good. Homes are staying on the market longer now, which is a reflection of the fact that we still have a higher inventory of homes for sale. We are still working our way through the extra inventory of homes that did not sell during the winter of 2008-2009. Peeking ahead at April, 5 homes have already sold this month as of today, only the eighth day of the month. 24 homes are currently pending sale. Let's see how the month keeps going. I personally think that the Home Buyer's Tax Credit has been a helpful thing for real estate in our area after we got through the depths of winter.

Spring has sprung, so come on out and enjoy all that the Green County, Wisconsin, area has to offer!

~ Join the Young Professionals of Green County for their monthly Happy Hour event. This month, they are gathering at Turner Hall in Monroe on Thursday from 5:30 until 7:30 pm.

~ The Alternative Fuel Society meets at River Valley Trading Company in Blanchardville this Friday evening starting at 7 pm. New people are always welcome.

~ Branson on the Road is performing at the PAC in Monroe. Comdey, country, Bluegrass, Rockabilly, and Gospel should make for an entertaining evening. Contact Monroe Arts Center for tickets and information.

~ Ever been curious about how those heavy fleece coats come off the sheep in spring? Now is your chance to see. Patty at Rainbow Fleece Farm has Spring Sheering Days this weekend. There will be presentations on needle felting, spinning and a talk on Spindle Wheels by a textile historian. Fiber in all stages will be available for purchase. 11-4 Saturday and Sunday at Rainbow Fleece Farm.

~ Don't forget about the Knitter's Treat Spring Sale at the Dining Room in Monticello.

~ Argyle Community Theatre presents COPING, an evening of comedic songs telling people how to cope with stress. We know some of the performers, and it should be a fantastic show. The event is at Partridge Hall in Argyle with show times at Thursdays, April 8 & 15 at 7:30 (theater only, $5), Saturdays, April 10 & 17 at 7:30 (theater and buffet, $25), Sunday, April 11 at 3 (theater and brunch, $20).

~ Movie night? The Goetz in Monroe is featuring "How to Train Your Dragon," "Clash of the Titans," and "Diary of a Wimpy Kid" this weekend. Visit their website for movie times and information. Sky-Vu Drive In opens in May!

~ Curious about the behind the scenes work it takes to put together theater performances? MTG's Costuming Fundamentals workshop on Friday evening might interest you. Learn the nuts and bolts of the job of a costume assistant and how to set up a costume area backstage. This workshop is free for members ($10 for non). MTG's Stage Right also has two youth classes starting next week: Youth Improv Program and First Timer's Puppets.

~ Oakdale Nature Preserve in Freeport has their monthly Family Day this Sunday afternoon. Bring the entire family to learn a little something, explore nature and play a bit. Free will donation.

~ Get your tickets for the upcoming Monroe Theatre Guild production of the Pulitzer Prize winning play "The Rabbit Hole." This drama will be performed in MTG's Stage Building. Showtimes are April 16, 17, 22 and 24 at 7:30 PM or April 18 and 24 at 2:00 PM. Tickets are $10 for members, $12 for non-members. This production is recommended for adults or teens only.