Wisconsin

Due to low interest rate,s and a limited supply of homes currently on the market, Twin Cities home buyers had signed over 3,700 purchase agreements in February. This is a 34% increase compared with last year at this time and is the best February since '06. This is according to data released by the Minneapolis Area Association of Realtors on 3/12/2012.

Foreclosures continued to represent more than 40% of all sales which caused the median sale price to fall 1.4% to $138k. That was the smallest price decline in 16 months a good sign for what's to come!

For more information on this article visit: http://www.startribune.com/blogs/142331895.html

For Immediate Release
Contact: Mike Ruzicka
414.778.4929 or mike@gmar.ws

March 9, 2012 – The housing market continued its stellar start to 2012 in February, increasing 24.8% in the 4-county metropolitan area. February marked the 8th month in a row that sales increased by double-digits.

Brokers have been reporting a great deal of activity on their websites, at open houses and in showing requests since just after Thanksgiving 2011, which lead to increased closings in January and February. And, brokers are reporting even more activity in the first two weeks of March.

An unprecedented level of affordability and extremely low interest rates seem to be attracting buyers’ interest. The National Association of REALTORS® reported, “Housing affordability conditions have reached the highest level since recordkeeping began in 1970…. NAR’s Housing Affordability Index rose to a record high 206.1 in January, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power.”

With employment figures improving in the state, consumer confidence also appears to be rising. Consumer confidence has been a missing ingredient in the housing market’s recovery.

A notable change in the market is that listings increased in February by 22.8%. Generally, new homes are placed on the market in greater numbers in the spring; however, listing levels increased dramatically leading up to, and well into, the recession beginning in 2007. Part of the Milwaukee market’s problem over the last 5 years was an overabundance of inventory. The market had been correcting that inefficiency, decreasing listings in 10 of the last 13 months.

The increase in inventory this time is not necessarily an unwelcome development. Brokers have reported a dearth of quality, “move-in” quality homes in some areas of the market. While the level of inventory is still historically high, a large chunk of current listings are distressed properties (e.g. short sale, foreclosure). Many listings added in February are more likely to sell in the short-term than sit on the market for a long time.

County-by-County Sales Analysis:

· Milwaukee County was up 21.1% in sales over 2011 (493 units vs. 407 units)
· Waukesha County was up 32.1% vs. 2011 (222 sales compared with 168)
· Washington County was up 33.3% compared to 2011 (68 vs. 51)
· Ozaukee County was also up 20.0% vs. a year ago (42 units vs. 35 units)

PENINSULA PLAYERS ANNOUNCES 2012 SEASON SCHEDULE: Peninsula Players will open on June 12 with the Wisconsin premiere of “Opus” by Michael Hollinger. Beethoven and Bach underscore a behind-the-music glimpse into a highly-strung string quartet. The quick hiring of a gifted, but inexperienced replacement prior to an important concert strikes discord as personalities clash while tempers and passion rise. From the creator of “Red Herring,” comes a play with humor, heat, high notes and hysterics. “Opus” will have a two week run closing June 24.

From June 27 through July 22 the Peninsula Players presents “The Nerd” by Larry Shue, a hilarious comedy featuring an overbearing house guest. How long can Willum tolerate Rick’s obnoxious habits and tambourine practice before he cracks and schemes to out-nerd his guest?

Next up from July 25 through August 12 is the jazzy Tony-award winning musical “Chicago,” with book by Fred Ebb and Bob Fosse; music by John Kander; lyrics by Fred Ebb; based on the play “Chicago” by Maurine Dallas Watkins. This razzle-dazzle-filled musical features femme fatales Roxie Hart and Velma Kelly, the girls who vie to be media sweethearts while members of Murderess Row in Cook County Jail. “Chicago” is an electrifying musical, winner of six Tony Awards, two Olivier Awards, a Grammy and thousands of standing ovations.

Agatha Christie’s “Murder on the Nile” cruises onto the stage from August 15 through Sept. 2. Blackmail, bullets and bodies follow a young couple on their honeymoon cruise along the Nile. This sharp-edged Christie whodunit will keep you in suspense while the luxury steamer travels up the Nile River filled with its eccentric characters that only the Queen of Suspense can dream up.

Closing the season is the northeastern Wisconsin homecoming of “Lombardi” Sept. 5 through Oct. 14, by Eric Simonson, based on the book “When Pride Still Mattered – A Life of Vince Lombardi” by David Maraniss. He is unquestionably one of the most inspirational sports icons, but who is the man behind football’s coveted trophy? Who is the man behind the legend? Vince Lombardi embodies that respect, time, hard work, and discipline are crucial for success. “Lombardi” isn’t just about football; it is about the relationships and people who shaped his life off the gridiron.

“I truly hope audiences enjoy the variety of the Peninsula Players 77^th year,” Artistic Director Greg Vinkler says. “The plays are filled with diva-like drama, side-splitting laughter, toe-tapping numbers, thrilling murders, and a personal and fascinating glimpse into the life of the legendary Vince Lombardi. The 77^th season has got it all – laughter, drama and music – something for everyone to enjoy!”

Peninsula Players has been entertaining and exciting audiences since 1935. Peninsula Players was founded by a brother and sister team, Caroline and Richard Fisher, who dreamed of an artistic utopia in the north woods where actors, designers and technicians could focus on their craft while being surrounded by nature in a contemplative setting.

Peninsula Players location along the shore of Green Bay provides a serene location for patrons as well. Prior to performances, patrons relax and picnic on the grounds while watching the setting sun over the waters of Green Bay from the cedar-lined shore and enjoy the ambiance of the beer garden and other gardens.

The Fishers’ dream lives on as professional actors, directors and designers work side-by-side with college interns while living on the Players 16-acre campus as they bring audiences a variety of works including dramas, mysteries, comedies and musicals. In fall, 2005, the troupe closed its season early to build a new stage house and all-weather audience pavilion.

The Peninsula Players perform Tuesdays through Saturdays at 8 pm and Sundays at 7:30 pm in the summer. With the opening of the fall show Sept. 5 curtain times are 7 pm Tuesday through most Sundays at 7 pm The closing Sunday performance of each show will have a 4 pm matinee, June 24, July 22, Aug. 12, Sept.2 and Oct. 14 as well as Wednesday, July 4.

Discount tickets are available for season ticket holders and groups. Individual tickets are also available. Individual ticket prices range from $33 to $42. There are no performances on Mondays. For more information or to reserve tickets phone the Peninsula Players’ box office at 920.868.3287 or visit the Website at www.peninsulaplayers.com

Mortgage Forgiveness is Currently Set to expire at end of 2012

One primary feature attracting many underwater homeowners to a short sale is the fact that the taxes are lowered thanks to a Mortgage Forgiveness Debt Relief Act of 2007 provision. However, that credit is set to go away at the end of the year 2012. This means that homeowners who have put off selling need to get busy.

Basics of the Rule

When foreclosures were the primary topic of almost every news broadcast, Congress stepped in and offered this one time transaction. Homeowners could sell their home, for less than the existing mortgage, if the lender agreed to the deal. The outstanding balance would normally be taxable as earned income to the homeowner. However, the Mortgage Forgiveness Act wiped out the taxes on any unpaid balance up to a whopping two million dollars. This act applies to short sales that occurred between 2007 and 2012.

New Area of Expertise for Real Estate Agents

Many real estate agents have chosen to specialize in certain areas. Some people prefer to work with commercial property, while others may focus their energy on single family homes. The past few years has seen a rise in the number of agents that zero in on the short sales, and for good reason. Many banks are not open to the idea of a short sale coming straight from the homeowner. But with an experienced real estate agent, the situation changes. Banks realize that these agents are quite familiar with the local area and can accurately predict a home’s true value. Using an experienced agent can help homeowners negotiate a fair sales price and remove themselves from the burden of a mortgage that is no longer feasible.

Possible Change before End of the Year

It is possible that Congress could move to extend the Mortgage Forgiveness expiration. After all, the home purchase credit initiated a couple of years ago was extended twice to encourage more people to buy homes. However, it is too early to tell if this particular act will be extended so it is better for most people to err on the side of caution and begin negotiating a sales price with their real estate agent and their lender.

Getting Everything in Order for a Short Sale

If you are considering a short sale of your home then you will need to get a bit of information together. First, you must contact your lender and ask them for a 30 day payoff on your mortgage. If you have more than one mortgage, or Home Equity Line of Credit (HELOC), then you will need a payoff amount for each loan. Once you have these figures you can call your real estate agent and ask for their professional opinion about the value of your home. The agent will be able to access sales of homes similar to yours in the surrounding area and provide you with an accurate value. Then, you will have a strong argument to present to the lender. The lender may ask that you have an actual home sale contract in hand before accepting your offer. But at least you will be on the track to selling the home once you have spoken to a real estate agent.

Original Email - Mortgage Forgiveness Act expiring soon

Who knew the secrets to a better gravy were in the soda aisle? After sauteing or roasting meat, cooks commonly deglaze the pan with wine or stock to release the leftover, flavor-packed browned bits. When you don't have those cooking liquids on hand, crack open a can of ginger ale. Pour in a small amount and stir. Add a dab of butter and a pinch of salt to make an instant meat sauce for drizzling or brushing onto the meat. YUMMO!