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Dennis Herman

H1N1 In Perspective

We have heard way too much about this H1N1 flu. The drug companies claim there is a shortage of shots. These are the same drug companies spending BILLIONS in advertising, most of which is during the news hour. I suspect these drug companies are threatening the media, telling them to create a scare so they can make more money. If they create a shortage, they raise th

http://www.kirotv.com/money/20975936/detail.html

Talk about CONTROL, this is only the beginning. After spending millions of dollars lobbying against any type of public health insurance plan, the same drug companies want the government to spent $18 BILLION dollars to publicly distribute the shot.

http://www.lakelandtimes.com/main.asp?SectionID=9&SubSectionID=9&ArticleID=10046

Let's gauge the scare tactic. How many people have died from the N1H1 virus this year?

4700 WORLD WIDE.

http://www.chinadaily.com.cn/world/2009-10/17/content_8805678.htm

How many people have died in traffic accidents in the UNITED STATES?

Over 40,000.

http://www.edmunds.com/ownership/safety/articles/120006/article.html

How many people are killed by drunk drivers in a year in the United States?

Over 13,000

http://www.duiattorneyhome.com/DUI/Drunk-Driving-Statistics

If these drug companies were really concerned about our health, shouldn't they be spending money to loby against drunk driving?

Take precautions against the flu, but look at it in a realistic manner.

Land Contracts and the first-time homebuyer tax credit.

I don't know about you but I have been searching the internet looking for this information. To think this has been changed in July and no formal announcement was formulated.

Mortgage Banking/Finance - General Finance
QUESTION:
Re: Land Contracts and the first-time homebuyer tax credit.

ANSWER:

Here is the new addition from the IRS on their Q and A page at http://www.irs.gov/newsroom/article/0,,id=206291,00.html.

Q. Can a taxpayer claim the first-time homebuyer credit if the purchase is pursuant to a seller financing arrangement (for example, a contract for deed, installment land sale contract, or long-term land contract), and the seller retains legal title to secure the taxpayer's payment obligations?

A. If the taxpayer obtains the "benefits and burdens" of ownership of a residence in a seller financing arrangement, then the taxpayer can claim the credit even though the seller retains legal title. Factors that indicate that a taxpayer has the benefits and burdens of ownership include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property. (New 7/2/09)

READ MORE ABOUT IT:
For more information about the homebuyer tax credit visit the WRA’s new Wisconsin Homebuyer Microsite @ http://www.wisconsinhomebuyer.org/taxcredit.html and the IRS information @ http://www.irs.gov/newsroom/article/0,,id=206291,00.html.

Menomonee Falls Wisconsin Rotary Evening of Grapes & Hops Fund Raiser

Wednesday October 28, 2009 5:00 - 9:00

Cost - $40 per person Reservations needed by Oct 19

North Hills Country Club
N73 W13430 Appleton Avenue

Come and taste some of the finest wines and beers in the area. Enjoy chef prepared
appetizers and desserts! The beautiful North Hills Country Club is our venue for this
fabulous fall event. Activities will spill outdoors weather permitting. Make your plans now and
share in a great fall evening with Rotary and many of the most influential people in the area.

Proceeds will go to benefit ARCh CAmp Pow Wow, a summer camp for those with learning
disabilities, cognitive challenges, mental health needs and physical health difficulties.
http://www.waukeshaarch.org/

See the Menomonee Falls Rotary Club Web page for additional details:
http://www.menomoneefallsrotary.org/Grapes_Hops.html

Rent to Own Option

A Rent to Own Option may be perfect for Home Buyers who find themselves just one step away from realizing their dream of owning a home. With today's prices you may never get another chance to own a home for the same cost of renting an apartment. A Rent to Own Option may be the bridge you have been looking for.

A Rent to Own Option works much like a loan. To qualify you must meet the following criteria.

You must have a credit score of at least 550.

If your credit score is between 550 and 620 you will be required to enroll and participate in a credit counseling course.

Includes a free credit repair consultation.

Down payments of 3 to 5% are required.

Call for more details and begin the qualification process.
Dennis Herman
Realty Executives
414-426-1784

Serving the Menomonee Falls and Greater Milwaukee Areas.

Most clients are able to refinance and buy out the Rent to Own Option in 3 to 6 months.

Investors may be back.

Here we are, in the middle of September 2009 and I just about broke even in the stock market, compared to last year. On Thursday I showed about a 1% gain, which of course was eaten up in a fall on Friday. It's no wonder I am finding more investors getting back into the housing market. Why not? Where else can you get a 5-7% return on your funds with minimal risk. Real estate is becoming an attractive investment once again? It has been one matter, trying to guess the bottom of the stock market. I have seen some stocks increase as high as 600% when I made my best guess at the market bottom. But I also own a number of stocks which are off as much as 80%. Hence, it all balances out to a zero percent gain. I can see why investors are feeling more secure back in the housing market. At least the investment is secured by real estate which is at the lowest price in years. As a buyer's agent I negotiate the best price I can for the investors, which in this market is often an easy task. Today there appears to be little risk of prices dropping much more in the housing market, which makes this an attractive investment.

This helps me out in a number of ways. It opens opportunities for rent to own options. The investors share in a small portion of the profits from the closing costs, receive the interest during the rental period and receive the full sum of their money when the buyer is able to close on a new loan, usually in 3 to 6 months. Banks have found a thousand ways to say no to many highly qualified buyers. I am sure most of us have seen this happen. After investing dozens of hundreds of hours into a purchase we find out the entire transaction is killed by reasons making little or no sense. This has opened the field up to investors. I hope the banks are paying attention. There are plenty of smart investors making a good income from this situation.