Hudson, WI

We have been working hard on our New "Prevent Foreclosure WI" website.

This has been designed to help the people of St. Croix and Pierce County in Wisconsin...in preventing a foreclosure via a Short Sale...Check it out and please forward to anyone in these counties that need HELP!

If you live in Hudson, New Richmond, Hammond, Baldwin, Roberts, River Falls or Prescott

We offer a FREE in-home consultation!

As many of our residents know, the current Hudson Library located in the city municipal building is woefully inadequate. It's easy for everyone to agree upon that. What is more controversial is exactly what we should do about it, and how much it should cost.

The search for a solution began with the possible purchase of a parcel of land near the corner of Carmichael and Vine St, and then construction of a new facility at that site. Property acquisition, construction, and equipment purchase for a new facility was expected to cost approximately $12 milllion, and take up to five years to complete. Although the site is close to the YMCA and is a high-traffic area easily accessed by the rest of the community, a costly land purchase combined with a costly new construction project left this option stalled and the search continued.

It was then discovered the the Nuclear Management Company (NMC) building at the corner of First St and Vine St was soon to be vacated and put up for sale. This unique building is located in the heart of downtown, and overlooks one of Hudson finest assets, the riverfront. The flowing architecture and amazing views, plus the incorporation of many 'green' design and construction principles, make this building a highly attractive and desirable location. No one doubts that it is a beautiful facility, but the question remains, what is the cost and can we afford it?

The current plan for acquisition, conversion and equipment at this site would cost an estimated $9.5 million, or $2.5 million less than a new facility. The Hudson Area Library Foundation estimates that half this cost could be raised from private sources, such as individual philanthropists, organizations, foundations and corporations. This is the same model that was used when Stillwater build their new library. As for the citizens and taxpayers footing the rest of the bill, this plan would add $24 per $100,000 of assessed property value to the taxes; $9 would go toward the purchase, $16 would go toward ongoing operating costs. The residents of the Town of Troy, which is not part of the municipalities operating the library, would pay approximately $6 per $100,000.

Also for consideration is the opportunity cost of taking this building off the tax roll, and the cost of lost tax revenue over time. The NMC building has a tax assessed value of $3,559,100, generating $51,226 in yearly tax revenue (2007 tax report). To this I say that a library is one public service that supports education and growth of the community. It attracts well-educated and ambitious citizens, and supports local programs of all kinds. The library carries these intangible benefits whose benefits far outweigh the loss of any tax revenue.

So the question stands - can we afford this? I'd argue we can't afford to miss this opportunity. Although there is a cost associated with this plan, it is the most affordable plan so far. Besides the cost, there isn't a better location for the new library. This is an investment opportunity of a lifetime; an investment in our community and our future. As the library association says, this plan is Attractive, Available, Accessible, and Affordable. Vote for the Lakefront Library on April 1st, and vote for our future.

For more information about the proposed Hudson Library plan, visit www.LakefrontLibrary.com.

* * * I am currently looking for a new moderator/organizer for this group due to time constraints on my schedule. Please contact me at Chris@ChrisSchulz.com if you're interested in getting involved. Thanks! * * *

Are you interested in real estate investing but not sure where or how to begin? Perhaps you're a seasoned professional looking for local networking opportunities? Have a property to sell, or looking for an investment opportunity?

Join us at the NEW Saint Croix Valley Real Estate Investors (SCVREI) networking and meetup group and meet fellow Real Estate Buyers, Sellers, Lenders, Property Managers and Investors around western WI and eastern MN.

Come to share ideas and discuss properties on the market, contracts, mortgages, evaluating investment properties, and anything else about land and realty. Bring your business cards, brochures, and property information fliers to pass.

The meeting will begin with discussion and networking, and then we'll have a special guest presenter to talk to the group about investing techniques. We want to locate this meetup in Hudson so it is convenient to River Falls, Somerset, New Richmond, Stillwater, Woodbury and surrounding communities. Your comments and suggestions are welcomed and encouraged.

Visit www.SCVREI.com to see our schedule of events and to join in.

The first meeting will be Thursday, March 6th at 7:00pm in Hudson. We'll announce the exact location as we get closer, it depends on how many people will be there, so please RSVP so we can get a head count.

Why should you invest in real estate, and why should you do it now? Read my blog article 8 Reasons to Invest in Real Estate in 2008. Take action! Now is the time to begin...

Thanks for your interest!

The 2008 Hudson Hot Air Affair was this weekend, if you've never been to Hudson for it you need to come check it out! It's a weekend stuffed full of fun for everyone - candle light ski and hike, snow volleyball, arts and crafts fair, karaoke and dancing, and more! The big events are the Friday night parade and fireworks, the Saturday morning balloon launch, and the Saturday night Moon Glow.

The Parade runs down 2nd Street, the main street through historic downtown Hudson. The balloon baskets and torches light up downtown, while participants throw candy and dance to music...

The crowd follows the parade down to Riverfront Park for a fireworks display, before taking in the evening activities and all the nightlife that downtown Hudson has to offer...

Saturday night the hot air balloons light up the night sky for the Moon Glow event, a serene and picturesque display of colorful balloons and red-hot flames set against the black night sky...

For more information about this annual family-friendly attraction, visit www.HudsonHotAirAffair.com.

And if you are still travelling here from out-of-town for this event every year, don't you think it's about time you finally bought a new house here and called Hudson 'home'? If the time is right to make the move, don't hesitate to call me today to begin exploring all of the possibilities Hudson has to offer. And if the time isn't quite right, visit my website www.MyNextNewHome.com to start searching for homes around the area and for more local community info. Remember, I'm here to help.

"I just bought a new home in Wisconsin - do I need to file for 'homestead' tax status?" "Why are property taxes higher in Wisconsin compared to Minnesota?" "Are there tax advantages to buying a home in WI versus MN?"

WI and MN do their property taxes a little different...

Minnesota basically offers a discount on your taxes for the home you live in (your primary residence, or "homestead"), but they need to make their money somewhere, so to make up for this they increase the tax rate on non-homestead properties (like investment properties, lake homes, etc.)

Wisconsin, on the other hand, does not distinguish between the two types, and basically charges the same tax rate whether it's your primary residence or an investment property.

WI does not have this "homestead" status, so basically all properties you look at in WI are considered "non-homestead" properties for tax purposes. WI does offer a small tax credit if your primary residence is located within WI. If you buy a primary residence in MN, you need to file paperwork with the county right after closing in order to claim the homestead status.

So if you're shopping for properties between the two states, it is typically advantageous from a tax standpoint to buy your primary residence in MN so you can claim the homestead status, and then buy a second-home in WI because WI doesn't increase the tax rate for second-homes.

There are also local municipal taxes, special assessments and lottery credits that affect the final tax bill, so this doesn't hold true 100% of the time and you may see non-homestead MN properties with lower taxes, but it is very typical.

The tax advantages are only one variable in a very large and complex equation. I would never tell someone to buy a house simply because they can save a little money in taxes. Buy it because you love it; buy it because it's the best decision for your family; buy it because it feels like 'home'.

(And of course, my disclaimer: I'm a real estate professional, not a tax advisor; please consult with your preferred accountant or tax professional for the full tax implications before purchasing any real estate).

Please visit my website www.MyNextNewHome.com to search for properties in WI and MN, and register to save your search and receive automatic email updates to be the first to hear about a new listing or a price reduction!