Hudson, WI

Many have asked questions on the old tax credit vs the new one recently approved last week (2/19/009). Below is a simple chart that breaks out the differences for you!

Contact Andy Burton Mortgage Advisor with questions:

Direct (715) 760-0259

Office: (651) 501-0960

Email: Andy@andyburtongroup.com

Web: www.AndyBurtonGroup.com

Times changing, local Realtor makes a move

Debbie Griffin River Falls Journal
Published Thursday, December 11, 2008

After six years working with Century 21, River Falls resident and Realtor Jeremy Cudd decided to change his company and business location.

Along with silent partner and three-year associate Oranzo Oevering who owns Roberts-based Oevering Homes, Cudd and wife Kristan bought a franchise of the international business, Realty Executives Select. They'll work from a new 3,200-square foot space at 900 Crest View Drive in Hudson.

RES will share the office space with business associates Cudd works with closely and often: Wells Fargo Home Mortgage Consultant Kevin Busse and Real Source Title Representative Kami Telschow.

Jeremy Cudd recently opened a franchise of the international realty company Realty Executives Select in Hudson, where he'll office with title company and banking professionals. Left to right: Kelly Nelson, Merilee Bune, Oranzo Oevering, Kami Telschow, Jeremy Cudd, Kristan Cudd, Wendy Olsem and Kevin Busse. Debbie Griffin photo
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He said RES will recruit top producers to fill its six Hudson-based offices. The company has 800 offices in 20 countries and typically deals in high-end real estate.

It designs its tools and systems for top producers like Cudd, who says he ranks high in the region that includes Wisconsin, Minnesota, Michigan, Iowa and both Dakotas.

"This is like a new-age realty company," Cudd said.

Cudd said Hudson seemed like a central location with good access from which he can serve clients in River Falls, Hudson, New Richmond and Roberts. He said people called him crazy for buying a realty company in these economic times.

"We've got the opportunity to grow," he said.

Kristan agrees, "Buying a company at peak market would be more expensive. There's always going to be a real estate market. You just have to find the niches and go with them."

She and Cudd agree that the market will always fluctuate.

State of local markets

Cudd said about realty in general: "I don't think there's been a better time to buy."

Home prices and interest rates are low and the ratio of homes to buyers stands at 11:1. An expert at an industry conference he attended predicted a rebound in quarter two of 2009.

"I think we've reached bottom, but nobody really knows," said Cudd.

Current statistics say there are about 9% fewer homes on the market now than at this time last year. The average time for a home to be on the market now is around 120 days, and sellers are getting 92% of their original list price.

Cudd said during all of 1998, buyers closed on a total of 754 homes in St. Croix County. Through quarter three of 2008, that number stands at 740 homes.

In 1998, the median sale home price was $121,000. This year, it is $181,000.

The same comparison in Pierce County shows a total of 186 homes sold for the entire year of 1998 and 228 homes sold through quarter three of this year. The median sale price then was $114,000; for 2008 it is $180,000.

He said people should realize these figures represent median sale prices, not actual values.

"If you look at the big picture over the last 10 years," said Cudd, "home values have actually increased."

He said a government offer can make now an especially good time to buy. Until July 2009, first-time homeowners or people who haven't bought in three years can take advantage of a $7,500 interest-free loan that may be repaid over 15 years' time.

Foreclosures and short sales - discounted sales done before a home enters foreclosure - also create good deals for buyers.

Cudd said, "I'm passionate about real estate. My goal is to provide enough information for buyers and sellers to make an informed decision."

While his bus-based billboard that used to sit on his grandfather's land east of Hwy. 65 just north of the hospital may be gone, he's still here and so are some new billboards. He and Kristan will continue living and working in River Falls.

The couple invites everyone to a charity benefit they're holding 5:30-7:30 Friday, Dec. 19, at the Agave Kitchen, 501 Second St., Hudson. Bring a gift or donation for a needy family.

Cudd said people can reach him and get more information about his new company or the upcoming benefit at his personal Web site: www.jeremycudd.com. His new business Web site is www.hudsonexecutives.com, and people can also reach him via cell phone at 612-703-2833.

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!