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City Real Estate E-newsletter  -  January 7, 2015

 

New Years Resolution

Owning your own home has several benefits, offers tax incentives and generally improves your overall net worth: 

Tax deductions - As a homeowner, you can deduct property taxes and mortgage interest from your income taxes if itemizing your deductions.

Equity - Over time, homeowners accumulate equity, which can be borrowed against for important expenses like college tuition.

Stability - Monthly costs will most likely be based upon a fixed-rate mortgage, with no worries of rising rents from landlords.

Freedom - You are in control of your own housing – no more moving from apartment to apartment every year. You can paint, renovate, landscape and make energy improvements that may save you even more money in the long run.

If becoming a homeowner is on your list of resolutions for 2015, save your tax refund and get started today on your path to homeownership!

 



Learn more at our Homebuyer Orientation Sessions

Attend the next session to learn more about the Homebuyer Assistance Program, which offers assistance from a rehab specialist and up to $20,000 forgivable loans for the rehab of City-owned homes.

Wednesday, January 28, 6-7:30pm
Washington Park Library
(Community Room)
Click to Learn More
 


 

2402 N Sherman Blvd.Featured Home

2402 N. Sherman Blvd.
Single family 4 BR / 2BA

Details abound in this classic Mediterranean Revival home which features hardwood floors, crown molding, leaded glass, brick fireplace, built-in cabinets and a beautiful wood staircase. Built in 1920, this 2,470 sq. ft. home sits on large 8,415 sq. ft. lot with a detached garage at the rear of the property.

On National Register of Historic Places and locally designated as the Carl T. Mueller House.

Purchase price: $58,500     
Rehab cost: $31,415

This home may also qualify for a $20,000 forgivable loan through the Homebuyer Assistance Program.

Shop our Current Listing today!
 


 

Current Property Listing
Current Property Listings

City Real Estate has posted new homes for sale online as of January 6, 2015. Bids will close on February 5, 2015 at 10am.

As an owner-occupant buyer, these properties also qualify for the $500 ROOTS Landscaping Program Incentive.

Get started on your Homebuyer Counseling Certificate to take advantage of the HBA $20,000 forgivable loan.
 

 


Five Points Park in the Harambee neighborhoodNIDC Community Improvement Project Grants

NIDC offers Community Improvement Project (CIP) grants to support community projects that engage community members and physically improve neighborhoods in Milwaukee. The CIP grants are reimbursable grants that require a dollar-for-dollar match from non-City funding sources. The maximum CIP grant request available for a project is $4,000 in 2015.

Photo from Five Points Park: Harambee Community members worked with a local artist to create and install decorative planters that celebrate neighborhood culture and beautify a once vacant space.

Learn more about CIP grants and view past projects at: www.milwaukee.gov/CIPS


 

Extended Property ListingThinking of Becoming a Landlord?

City Real Estate has many homes for sale on the Extended Listing webpage that are available to investors and owner-occupants who want to earn rental income. Investor owners must possess or obtain a Landlord Training Program certificate.

The classes are FREE and held on a regular basis throughout the year at various locations. Attendees get a free 100 page manual and handouts on a variety of legal and business issues related to managing a property.

View 2015 Landlord Training Program Class Schedule


 

STRONG Homes Loan    STRONG Homes Loan
FOR CURRENT HOMEOWNERS:
STRONG Homes Loan Program Launched in 2015


One highlight of the 2015 City Budget was the creation of the STRONG Homes Loan Program to be administered by the Department of City Development’s Neighborhood Improvement Development Corporation (NIDC). This new program will assist current homeowners to make essential home repairs and abate code violations at their properties. Eligible items include replacing a roof, replacing a failing porch, repairing or replacing deteriorating siding or failing exterior paint, and correcting hazardous conditions or building code violations.

If a homeowner remains in their home for ten years after the completion of the work, 25% of the STRONG Homes loan will be forgiven. Homeowners who are low-income and elderly or disabled may qualify for deferred payment loans under the program. The program will be available City-wide and households with incomes of up to 120% AMI  ($84,350 for a family of four) are eligible to apply.

Learn more about this exciting new program at: www.milwaukee.gov/STRONGloan


 

Featured Commercial Property2600 West Vliet Street

2600 West Vliet Street - $15,000 
This Midtown Neighborhood Office/Health Care Facility features 2,226 sq. ft. with excellent visibility on Vliet St. Proposals will be reviewed on a continuous basis until an acceptable proposal is received.

Visit the Commercial Properties website for additional opportunities.


 

 DCD facebookConnect with Us!

Follow the Department of City Development on Facebook and Twitter for more updates on city real estate for sale, programs and incentives offered, development projects around the city and the latest news from the Mayor's STRONG Neighborhoods Plan.

www.facebook.com/milwaukeedcd
www.twitter.com/milwaukeedcd

 



If your organization would like to featured in future e-newsletters, please contact
Community Outreach Liaison Christina Klose at cklose@milwaukee.gov

 


City Real Estate, 809 N. Broadway, Milwaukee, WI 53202   -   (414) 286-5730


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