About Dane County, WI

Strangely enough we're assisting two different pairs of brothers with their investment plans right now.

Pair #1 already owns 2 duplexes and is in the process of expanding its portfolio. Last week these two brothers put in an offer on an 8-unit, and we're waiting to see how this one turns out.

Pair #2 is new to the game. These two brothers are looking to buy their first duplex using the money they have saved between the two of them.

Both sets of brothers are at different points in their investment plans, but they are similar in many ways. They are all planners and goal-setters, and they all believe in the "get rich slow" formula that multifamily real estate offers. All of these brothers are seeking a property that cash flows while they pay down their mortgage and their property appreciates in value over time. They are aware of the tax benefits that come with multifamily real estate, and they plan to leverage their equity in future years to buy additional properties.

Both sets of brothers are persistent and patient. They have clear standards, and they are willing to evaluate 30 properties in order to find the one property that meets their criteria.

As we've stated before, it's a buyer's market in multifamily real estate. The irony is not many people are buying. Here's our latest multifamily real estate report. You'll find more useful information at MadisonIncomeProperties.com, including how we help you buy and how we help you sell multifamily real estate.

Have a good day,

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

We're starting to use professional home video tours for our listings because the quality of the product offered by Whirligig Online Marketing is excellent. Video tours are a great fit for homes with quality upgrades and professional staging. They give buyers a closer look at what each listing has to offer. Because of this, we're happy to invest in professional tours as part of our marketing plan.

For example, take a look at the video tours for these 3 new listings (click the "video" tab along the top menu).

• 1714 Bellewood Drive, 5 BR/4.5 BA, Waunakee Parade Home - $995,000
• 1407 Blue Ridge Trail, 4 BR/4.5 BA, Waunakee Parade Home - $765,000
• 3317 Westview Lane, 3 BR/2.75 BA, Madison Arbor Hills - $299,000

We've outlined our full marketing plan online. You can view it here on the how we help you page at DaneCountyMarket.com.

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

The $8,000 first-time home buyer tax credit has been extended into the year 2010, and now "long-time" home owners who sell one home and buy another are eligible for a $6,500 tax credit. A long-time home owner is defined as someone who has owned and occupied a home as a primary residence for at least 5 consecutive years out of the previous 8 years.

Tax payers who plan to claim the credit need to have a binding contract by April 30th 2010, and must close on their property by June 30th 2010.

If you're planning to take advantage of the tax credit, we recommend you plan on making your offer by April 1st. In case your offer does not get accepted, you'll want to allow yourself some time to find another property that meets your needs. And don't forget right now is a great time to shop for a home. Buyer traffic is lower right now than at any other time during the sales year. That means less competition from other buyers and more leverage with sellers.

For more information on the enhanced tax credit, you can check out this article on the buying real estate page at DaneCountyMarket.com.

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

The Dane County Distressed Property Index rose slightly in October to .24, indicating approximately 24% of the home and condos sales in October were related to foreclosure. The chart below shows the index has quadrupled since January of 2006.

On a related note, the Mortgage Bankers Association announced today in its National Delinquency Survey that 14.41% of all loans were either in foreclosure or at least one payment past due at the end of the third quarter 2009. That's a new record.

With a rising number of distressed properties and lower prices, we're seeing a lot of interest from buyers who might not otherwise be in the market. This includes home shoppers, and investors, too. In the last several months we've met multiple buyers who have been saving their cash for the right moment to jump in. And many of them are jumping in right now.

In the coming weeks we'll share some stories of different buyers and how they are leveraging the market.

Have a good Friday,

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

We're excited to announce the UW Credit Union has joined our DaneCountyMarket.com web site. This means our web site users can now search for properties, research the market, check the latest mortgage rates, and apply for a loan all from one convenient online location.

Speaking of mortgage rates, loans for 30 year fixed rate mortgages were available for 4.75% yesterday. You can check out today's rates by going to our home page.

Like us, UWCU is a provider of good consumer information, and soon UWCU will be offering educational articles that will be available from our site.

Have a great day,

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com