Viroqua Wisconsin: Mary Strang ~ Viroqua, WI Real Estate (RE/MAX Hill Country)

$8000 vs. $7500 First Home Buyer Tax Credit in 2009 Economic Stimulus Plan

Many of you know about the First Time Home Buyer Tax Credit for 2009. It has never been a better time to buy a home!

Via Andreli Ancheta (Connect Realty):

UPDATED:  MARCH 24, 2009

The IRS has now issued an updated Form 5405 which rules on a number of questions raised around the 2009 ($8000) and 2008 ($7500) home buyer tax credits. Here are some of the key IRS rulings and other answers applicable to the the 200+ questions I received on this credit:

- The Credit can be claimed in this year's tax return by filing an amendment using Form 5405. Qualifying taxpayers who buy a home this year before Dec. 1 can get up to $8,000, or $4,000 for married filing separately.

- Unfortunately you still have to pay back the existing $7,500 credit (for homes bought between April 8, 2008, and before December 31, 2008). Unlike the $8,000 credit passed recently, the existing credit was not made retroactive. You generally must repay the credit over a 15-year period in 15 equal installments, starting in 2010

- To be eligible for the home buyer credit, your modified adjusted gross income (MAGI) must be less than $95,000 or $170,000 (if married filing jointly) for the relevant tax year. The phase-out of the credit begins when your MAGI exceeds $75,000 or $150,000 (married filing jointly), meaning the amount of credit received decreases after these limits.

- You cannot claim the credit if acquired your home by gift or inheritance OR if you acquired your home from a related person

- If you and your spouse claim the credit on a joint return, each spouse is treated as having been allowed half of the credit for purposes of repaying the credit. So the total amount claimable is still $8000.

- [Recent Update] If you are married joint filers, both partners must meet the first-time home buyer criteria. This is to prevent double dipping, but is biased against married couples since single filers also get the $8000 credit. So if you are planning to get married this year to someone who has owned a home - you may want to buy a home first and get married in 2010.

- If two or more unmarried individuals buy a main home, they can allocate the credit among the individual owners using any reasonable method. The total amount allocated cannot exceed the smaller of $7,500 ($8,000 if you purchased your home in 2009) or 10% of the purchase price. Note: A reasonable method is any method that does not allocate all or a part of the credit to a co-owner who is not eligible to claim that part of the credit (I would go with 50/50 as a reasonable method if one person is not eligible for the credit)

- The purchase date is how you decide which credit you are eligible for. Only homes purchase from Jan 1 2009 to Dec 1 2009 are eligible for the fully refundable $8000 credit. If you constructed your main home, you are treated as having purchased it on the date you first occupied it.

1 comment • Mary Strang ~ Viroqua, WI Real Estate • May 09 2009 04:23PM

Air Mail Information Box

I would bet most folks have seen classic country mailboxes along rural roadsides. I would bet too, anyone who has ever driven around the rural countryside may have come across that folksy country humor of an airmail mailbox. They are out there, rural pranksters still putting them up thinking they are really cleaver for coming up with that idea.  Well today I actually came across something equally clever, it is what one might refer to as an airmail info box.  

I'm guessing that the listing agent who installed this info box better have some liability insurance. It's on a blind curve, to access it you would need to be a mountain goat and where to park without getting killed? It is certainly the most inconvenient location for an real estate information box I have ever seen. The last guy who was limber enough to get an info sheet out of this box, left the box open; most likely all the remaining info sheets are all wet. That is, if there are any in there, aren't most always empty?

Are you searching for homes to buy in Viroqua or Vernon County Wisconsin

call Mary Strang  therteam.com  RE/MAX Hill Country Realty 608-606-2999

About the author:

Mary Strang is the Broker-owner of RE/MAX Hill Country Realty located in Viroqua, WI. Home to Organic farming, a small rural city population of about 4000 and a great place to live! Copyright © 2009 by Mary Strang.  All rights reserved... "Airmail information box"  Disclaimer:  the blog post was written by Mary Strang is believed accurate but may not be guaranteed.

4 comments • Mary Strang ~ Viroqua, WI Real Estate • May 09 2009 04:06PM

Brains??? No, it's "Morels" in the Wisconsin woodlands

Over the past few days the subject of Morel Hunting has come up more than once. I do believe it will be a good weekend to hit the wooded country side in search of these tasty treats.

Via Scott Larson (Re/Max (Towne Square Realty)):

It's time to venture into the woodlots of Wisconsin for it's short-lived but tasty Morel mushroom season. These wild delicacies are found near dying Elm trees yet have been found even in the middle of people's yards. Nothing beats these little beauties when they are cleaned, coated with flour, and fried in butter. A word of caution, be very careful what you pick, many mushrooms are poisonous. make sure you take an experienced shroomer when you venture out. Once you have had a morel you will be hooked and look forward to the annual spring hunt. Oh yes, these are gone and where they yummy. Bonaparte!

6 comments • Mary Strang ~ Viroqua, WI Real Estate • May 08 2009 08:04AM

Don't answer that phone

A new number just got added to my address book, 909-842-9188 it's side by side with my clients and customers. Why... because it is a Pesky Telemarketer. It's been added to my phone so I won't answer the call again, ever. With the hopes that maybe they will disappear because this one has really become very irritating. I have received at least 50 calls from them in the past month. I am wondering how many other people are getting these same calls. I have had them on my cell phone, my home phone and even my business phone?  The recorded message informs me that my auto warranty is about to expire, which is not true.  Apparently they are just informing me that it is only the second time they are notifying me and may be my last, I should be so lucky. Unfortunately it has been more like 50+ times.

For the heck of it I Googled the number to see who they were, I was amazed to find numerous sites dedicated to posting exasperating telemarketing stories. One place is www.whocallsme.com, the number that called me was well-documented there by many other equally annoyed parties. Here is a sample: Some reported the call was to notify them of winning a free TV but the majority was about the warranty. One caller wrote: "They keep telling me I need to extend my car warranty... which is funny because I don't own a car.  I just want them to quit calling!!" Another said: "The caller uses up to 5 different numbers and private numbers to call my cell phone.  It was always about my second and final warning to renew my car warranty.  I waited and spoke with a person. After 3 minute hold time I asked to be removed from call list... he hung up." And finally this one: "How does any business think that pissing people off is a good sales strategy??"

So the question is, how many of you are getting these same-recorded messages to the point it is becoming annoying? A better question might also be, how many of you out there have renewed your auto warranty?

 

Are you searching for homes to buy in Viroqua or Vernon County Wisconsin

call Mary Strang  therteam.com  RE/MAX Hill Country Realty 608-606-2999

About the author:

Mary Strang is the Broker-owner of RE/MAX Hill Country Realty located in Viroqua, WI. Home to Organic farming, a small rural city population of about 4000 and a great place to live! Copyright © 2009 by Mary Strang.  All rights reserved... "Don't answer that phone"  Disclaimer:  the blog post was written by Mary Strang is believed accurate but may not be guaranteed.

 

5 comments • Mary Strang ~ Viroqua, WI Real Estate • May 06 2009 09:01PM

Open House Sunday in Westby, WI

Open House Sunday 5/3/2009  (Noon to 1:30 pm)

313 E. Park Street
Westby, WI 54667

If you are in the market for an affordable home!  Please stop by my open house $79,900

REDUCED PRICE! Here is a real Cozy Ranch home with a lovely open floor plan between the kitchen, dining room and the living room. The home has oak hardwood floors throughout and a gas parlor stove in the spacious living room. Two good sized bedrooms with a hallway bath with laundry are found at one end of the home. There is a bonus family room off the kitchen, which could be converted into a 3rd bedroom if more bedrooms are needed. The property has nice size lot and is also the last home on the street! If you want country living, this one has a great location.

 

Are you searching for homes to buy in Viroqua or Vernon County Wisconsin

call Mary Strang  therteam.com  RE/MAX Hill Country Realty 608-606-2999

About the author:

Mary Strang is the Broker-owner of RE/MAX Hill Country Realty located in Viroqua, WI. Home to Organic farming, a small rural city population of about 4000 and a great place to live! Copyright © 2009 by Mary Strang.  All rights reserved... "Open House Sunday"  Disclaimer:  the blog post was written by Mary Strang is believed accurate but may not be guaranteed.

 

0 comments • Mary Strang ~ Viroqua, WI Real Estate • May 01 2009 06:16AM

Is MLS In Your Magic Marketing Bag of Tricks?

 

This blog points out some the the very reasons we at RE/MAX Hill Country are members of our local MLS. Even with our market being so small I feel it is worth the extra cost to us to give our seller's the best opportunity to sell their property. If you have questions about how listing a home in the MLS can benefit you, be sure to contact Mary Strang at 608-606-2999.

 

Via SarahGray Lamm ~REALTOR Broker~ 60K Hours of NC Real Estate Experience~ (Allen Tate Realtors Chapel Hill, NC):

Selling Secrets - Keep OutIf I could do only ONE thing to market my seller's home it would be put it in MLS. I spend a heck of a lot of money being part of my MLS and for good reason. It reaches the folks 99% likely to sell my listings. It lets me compile the majority of the information I need to advise my clients properly on pricing, days on market, competition, market analytics and everything else an informed agent should know. I can prospect from it. I can email from it. I can upload my listings to most major home search engines from it now because of Listhub.

A big shout out to Jennifer Allen in Realty Times for the great article that made me laugh remembering every seller who ever smugly asked me ‘So what are ya gonna do if my house doesn't sell?" Her answer inspired me to share these thoughts on how I use the best trick in my bag.

"Frankly, the MLS system is an incredibly efficient system to sell houses and there's nothing we can do individually to out-market that MLS." Good point Jennifer...

So why do so many agents put up listings with no pictures and little or no data?
I fill in every possible field with verified information. I make sure every room has measurements, lot size is entered, schools are verified and the sellers' names are spelled correctly. (None of this ‘Call Listing Agent' for name. Come on...I can go to the online tax records just like anybody else. Which reminds me...I make sure my clients know that all their information is available. It will not be a secret from anyone when they bought, who owns the house or what they paid for it.) I scan for upload ALL of the seller signed addenda and disclosures necessary to write a contract. I have a professionally drawn floor plan prepared for upload. I write ad copy...real ad copy. Not just the abbreviated ‘realtor' short copy so many of us are fond of using. I decide what the "headline" will be to get buyers jazzed about reading more. It's all ready for me to copy/paste, in every variation I will need, for every medium I will use to promote this listing.

I hire a professional photographer...every time.
I don't care if your listing is $100,000 or $600,000...you get professional pictures. LOTS of professional pictures. One for every single slot available on MLS, my company website, Realtor.com and any place else it will be syndicated. Then I prepare an entire series of pictures, optimized for the web, sized perfectly for the display and number them, in order of importance, the way I want them to show up in all of those places. I name each one so I can recognize it without looking at the thumbnail during upload. I want the order to approximate walking through the house if at all possible. I prepare the virtual tour. No fish eye stuff. Professional pictures, that load quickly, panning to appropriate music (which can be shut off for folks surfing at work or late at night) and lots of clickable links on a floor plan to see what the house looks like from every direction.

I have a checklist and I'm not afraid to use it. Checklist
I do not even consider clicking SUBMIT in MLS until I have absolutely everything ready to load. Once my listing hits the Daily Hotsheet it has every single thing attached to it that a buyer or their agent could possibly desire to get them interested enough to make a showing appointment or write a contract. And there is another very good reason for that; Listhub, the awesome ability to syndicate your listing with no further effort on your part. But beware. It is a very bad idea to syndicate listings entered in dribs and drabs. Listhub may update daily but some sites still take days to display your listing...and days to pick up a correction...sometimes they never get picked. How long do you want your listing out there on Zillow or Yahoo with no pictures, sparse or bad data? I shudder at the thought.

Last but not least, I go to those major sites and ‘claim' my listing.
I cannot imagine anything worse than having an interested buyer ask a question and not have it get to me in a timely fashion. Or worse having a disgruntled neighbor or other anonymous person make a comment about my listing on a syndicated site that I am not aware of and haven't had the opportunity to provide the actual facts that will counteract the damage.

We work hard for the money.
Once you've done all the work of getting the listing, staging it, pricing it and preparing your client for showings, why in the world would you want Opening Day to be more fizzle than sizzle? Jennifer Allen says it best...

"Wouldn't it make more sense to hit the market with all guns blazing?"

4 comments • Mary Strang ~ Viroqua, WI Real Estate • April 29 2009 08:50AM

April'08 Market Watch

                  New Listings for the Month of April in Vernon County, Wisconsin totaled 23.

 

The price range went from a low of $69,900 to a high of $399,000.  What do you get for the money? At the low end of the price range is a 4-bedroom vintage 4-square style home located in a small town.  The listing remarks say: WONDERFUL 2 STORY OLDER HOME IS PRICED TO SELL; 4 BEDROOMS WITH A BATH ON EACH LEVEL. THERE IS A LARGE OPEN LIVING ROOM WITH HARDWOOD FLOORS, 3 SEASON PORCH, AND NEW GAS HOTWATER FURNACE PLUS A 2ND FURNACE FOR A/C.  AN EXTRA LARGE LOT WITH MATURE TREES IS AN ADDED PLUS.

Over on the higher end of Vernon County property for sale, is a fabulous custom home. Agent's remarks are: THREE BEDROOM 7 YR OLD RANCH HOME W/ FULL WALK-OUT BASEMENT, 80 ACRES WITH 10 TILLABLE AND 45 ACRES IN MANAGED FOREST PROGRAM 32X55 TWO STORY BARN, 28X40 FINISHED GARAGE WITH HEAT, INSULATED, CEMENT FLOOR, SPRING FED POND WITH TROUT STREAM ON PROPERTY ABUNDANT DEER AND TURKEY APPROX 3000 RED PINE TREES. BASEMENT HAS SECOND KITCHEN AND LAUNDRY.

Sold MLS Listing for the Month of April totaled 5 the price range was from a $25,000 for an REO home in Chaseburg. The high sale for October was a new ranch home nearby the Viroqua Hills Golf Course, closing at $201,000.

There are currently 140 active MLS Single Family listing available all across Vernon County.  If looking for a home in Viroqua or in Vernon County take the guesswork out of the search. Get the experience you can depend on... Contact Mary Strang at RE/MAX Hill Country I am here to assist you. 608-606-2999.

   

Are you searching for homes to buy in Viroqua or Vernon County Wisconsin

call Mary Strang  therteam.com  RE/MAX Hill Country Realty 608-606-2999

About the author:

Mary Strang is the Broker-owner of RE/MAX Hill Country Realty located in Viroqua, WI. Home to Organic farming, a small rural city population of about 4000 and a great place to live! Copyright© 2009 by Mary Strang.  All rights reserved... "April,08 Market Watch"  Disclaimer:  the blog post was written by Mary Strang is believed accurate but may not be guaranteed.

0 comments • Mary Strang ~ Viroqua, WI Real Estate • April 29 2009 07:27AM

Comes with 178 acres

Location: In the Vicinity of Tranquility... just 15 minutes from Richland Center and 25 minutes from Viroqua. This secluded and tucked away estate property comes with 178.3 acres of rolling land located in Bloom Township, Richland County. You can't just look at this one, you must behold it. Inspiring both interiorly and exteriorly this properties buildings and primary dwelling has the ambiance and appeal of a Frank Lloyd Wright prairie style designed.

The Residence: Design and built for the original owner in the mid-80 it has approximately 2496 sq. ft. of finished living space on 3 levels. It exemplifies creativity and a gracious living atmosphere in the rich, warm, woodsy custom woodwork ranging from cherry, maple, and oak. Further complementing the interior warmth are the earthy tones of the natural slate and stone surfaces found on some of the floors, walls and countertops. The main floor of the dwelling has an open floor plan between the living area, dining area, and the kitchen. The ceiling is vaulted up where you can take sight of the upper wood lined ceiling and the sleeping area loft which accommodates the spacious master bedrooms, a master spa bath, as well as a guest room. Off the kitchen there is a sun porch bordering the entire length of the backside of the home. This area is ideal places to sit and enjoy watching the wildlife pass by on their way to the 2 spring ponds or foraging for fruits & nuts from the many ornamental planted trees. The lower level has a spacious entertainment room, ideal for a large screen TV and gathering with family and friends. There is additional room for a 3rd bedroom with walkout access and ingress and egress windows. The laundry and also the added bonus of a sauna room is found on this level.

The Land: Rolling from the valley to mid-ridge elevations, this acreage consists of 178.3 surveyed acres with 100 acres more or less being tillable cropland. The balance is wooded land and grassland. Portions of the land have been fenced for cattle and horses. There are 2 out building one being a pole shed and the other is a small horse barn with 3 box stalls. Additionally there are 2 spring feed ponds which have now and then been stocked with trout. A rocky brook runs north and south along the roadway leading to this secluded property and there are 2 hill roads accessible along the road frontage that wind their way of the wooded hillsides to the crop land. This entire property is located nearby several well know trout streams and it is also excellent hunting land for both deer and wild turkeys

Asking: $869,000

 

 

Are you searching for homes to buy in Viroqua or Vernon County Wisconsin

call Mary Strang  therteam.com  RE/MAX Hill Country Realty 608-606-2999

About the author:

Mary Strang is the Broker-owner of RE/MAX Hill Country Realty located in Viroqua, Wi .
Copyright© 2009 by Mary Strang.  All rights reserved... "Comes with 178 acres"  Disclaimer:  the blog post was written by Mary Strang is believed accurate but may not be guaranteed.

3 comments • Mary Strang ~ Viroqua, WI Real Estate • March 13 2009 08:43AM

Open House at S5692 Cowden Road Viroqua, WI

OPEN HOUSE March 8th from 1 to 3 P.M.

Leave your cares behind and relax! Located just minutes from Viroqua this country home has the expansive views of the countryside. On the deck is a view of a rock outcropping plus long range countryside views.

The interior of the home features vaulted ceilings and skylights giving this open concept home a light airy feeling. On the main floor of this home you'll find a large kitchen. There is plenty of room for preparing goodies and it is open to the dining room for easy visiting with guests while doing last minute touch-ups! In the master suite you'll find plenty of room for furniture plus double closets, a large bath double sinks and not only a whirlpool tub but a separate shower too. The other two bedrooms share a large full bath. Also on the main floor is a room just off the living room currently used as an office plus a large laundry area with pantry and half bath adjacent.

On the lower level is room for lots of playing, storage and enjoying hobbies of all sorts. There is a bedroom with a full window, a room that could be used as a craft room or home office, two large finished areas, a full bath, a great storage room and a room where the furnace plus other mechanicals are located. The two large finished rooms are currently set up with one area for games including a pool table and the other is set up quieter for family and friends gatherings.

The home is in great shape with new flooring just placed on lower level and a newer sump pump has been installed. Approximately ten (10) acres is currently rented to the neighbor for cropland and it is a year to year rental agreement.

If you're looking for a quiet country spot living with not a lot of remodeling and not a lot of out buildings plus close to Viroqua this is the perfect spot.

 

Are you searching for homes to buy in Viroqua or Vernon County Wisconsin

call Mary Strang  therteam.com  RE/MAX Hill Country Realty 608-606-2999

3 comments • Mary Strang ~ Viroqua, WI Real Estate • March 04 2009 07:47AM

Open House at 803 Derek Lane Viroqua, WI

 

Open House Sunday 3/8/2009 from 1pm until 3pm

 803 Derek Lane Viroqua, WI 54665

Just two years young this home is better than new because the price is affordable, ready to move into and it has landscaping, a paved drive and has been freshly painted in neutral tones.

With 2012 square feet, this immaculate bi-level home has 3 bedrooms, a large great room with vaulted ceilings and is a "Wisconsin ENERGY STAR certified home". There is a fully finished lower level complete with a spacious family room. That room features a mini kitchenette with a snack bar. The full size windows let in plenty of sunlight light. The 3rd bedroom and a ¾ bath are also located on this level.

  • A great room as well as a family room offers plenty of living space for everyone.
  • An open kitchen with Center Island offers plenty of room for the gourmet cook. Hook up for the range is either gas or electric.
  • An eat-in dining area is a step from the kitchen with a full view of the spacious backyard and deck though the glass patio doors.
  • The spacious Master bedroom has duel closets. The roomy main floor bath has an integrated full laundry area and walkout for hanging laundry if desired. Besides heating efficiency there is central A/C which all adds to savings and easy family living.

 

Are you searching for homes to buy in Viroqua or Vernon County Wisconsin

call Mary Strang  therteam.com  RE/MAX Hill Country Realty 608-606-2999

3 comments • Mary Strang ~ Viroqua, WI Real Estate • February 25 2009 07:02AM