Do not worry be happy!

 

Got a call yesterday and the caller and I talked of many thing, as I hope I was able to explain myself and give my thoughts on the questions he asked (I still think the call was recorded) the big take away I have is this, if I only tried harder to fit in if I only wrote more positively on Racine and our Mayor/City the doors that would open …

I have herd that before more then once and I am kinda shocked that that folks still believe that

Somehow if we only said good things the issues that bring this city into ruin somehow would go away.

To buy into this idea and I do not we would need to forget oh lets name a few issues

Team Porters the misinformation to the whole deal falling apart

Delta Hawk and the lack of jobs this company spoke of when they came here

The Poor job Racine Unified has done and IMHO still continues to do.

The falling property values of the City of Racine

Issues on the Downtown/Reef Point

The RICO suit

and that is just a few.

Is the idea if we do not talk about the above and give Mayor John Dickert an open check book things will be better or maybe if we let the Mayor go wild and his pals get bank we might get our turn! You tell me I have no clue

Maybe if only Hitler’s staff been more positive abut  the Eastern front the Red Army would not have taken Berlin!

 

 

So  as I see my taxes go up up up more jobs leave Racine more folks leave Racine, more empty houses falling apart. A Downtown looking to needing to get more city money our money to stay alive I just sit back put on a shirt and tie because   my ship is coming in! After all lets not worry and be happy!

I will say this I do like this photo Do you think his wife does?

 

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Wolfman updates us!

City of Racine Property Sales August 25 – September 1, 2012

Prices for homes in Racine continue to fall, and houses selling for less than $50,000 are becoming the norm. Foreclosure activity by Banks and Lenders picked up dramatically which will only add to the glut of empty homes in The City of Racine. In 2013, Racine is set to begin razing some of the worst unsalable properties, and this is a trend that is expected to continue and increase.

Potential home buyers are advised to do their research carefully, and resist the high pressure sale tactics of local realtors who wish to  prop up Racine’s housing market by creating the artificial illusion of scarcity or a line of buyers. Homes are a great value in Racine and can be purchased at heavily discounted prices. Buyer BEWARE! Many homes have not been properly upgraded or suffer from shoddy work by unlicensed contractors who performed the work without permits! Know what to look for! Has the electrical service been updated from fuses to breakers? Are there enough circuits for the size of the house and the electrical outlets/devices? Are the Bathroom and Kitchen outlets GCFI’s? Have the windows been updated to double-pane insulated glass? Is the attic properly insulated? Be sure the siding and roofing is not asbestos!  Racine is full of asbestos sided and shingled homes who will present a toxic, and expensive nightmare  for any future work needed on the home.  The glut of properties being held by Banks and Lenders makes bargain house shopping a breeze in Racine! Don’t get taken by a Realtor!

*WARNING* Many transactions listed by the Racine Journal Times are not “sales”, but property transfers using a quit claim deed – usually between family members. These give a false impression of a healthy real estate market in Racine – DO NOT BE MISLED!

There were 11 Foreclosures and twenty actual sales. Those actual sales had an average overassessment of $ 33,000.

Address                                               Sale Price            Assessed Price                  Difference

3410 Twentieth St.                          FORECLOSURE                                                            -0-

514 English St.                                   FORECLOSURE                                                            -0-

809 Berkeley Dr.                               FORECLOSURE                                                            -0-

1234 Kentucky St.                            FORECLOSURE                                                            -0-

3725 St. Andrews                             FORECLOSURE                                                            -0-

3408 La Salle St.                                FORECLOSURE                                                            -0-

1415 Melvin Ave.                             FORECLOSURE                                                           -0-

1615 Phillips St.                                                FORECLOSURE                                                           -0-

1240 Martin Luther King                FORECLOSURE                                                           -0-

2423 West Lawn                               FORECLOSURE                                                           -0-

614 Goold St.                                     FORECLOSURE                                                           -0-

1001 Russett St.                                $172,000              $165,000                              Pos. $7,000

1113 Sheraton Dr.                            $136,113              $120,000                              Pos. $16,113

4935 Emstan Hills                             $130,000              $146,000                              Neg. $16,000

3313 Pierce Blvd.                             $122,000              $129,000                              Neg. $7,000

3423 Stratford Ave.                         $116,000              $138,000                              Neg. $22,000

 

Address                                               Sale Price            Assessed Price                  Difference

3026 N.Wisconsin St                       $145,000              $135,000                              Pos. $10,000

1235 Grove Ave.                               $89,000 $94,000                 Neg. $5,000

2118 La Salle St.                                $77,400 $105,000                              Neg. $27,600

2705 Hayes Ave.                               $75,000 $88,000                 Neg. $13,000

1103 William St.                               $74,200 $93,000                 Neg. $18,800

1422 Arthur Ave.                              $69,000 $90,000                 Neg. $21,000

1526 Chatham St.                             $64,700 $78,000                 Neg. $13,300

1217 Goold St.                                   $48,000 $100,000                              Neg. $52,000

720 Eighth St.                                     $45,000 $45,000                         -0-

621 Grove Ave.                                 $29,000 $86,000                 Neg. $57,000

1542 Holmes Ave.                            $22,280 $87,000                 Neg. $64,720

1704 Villa St.                                      $20,000 $50,000                 Neg. $30,000

2915 Sixteenth  St.                          $19,000 $86,000                 Neg. $67,000

4325 Fifteenth St.                            $19,000 $62,000                 Neg. $43,000

46 McKinley St.                                 $12,500 $74,000                 Neg. $61,500

3819 N. Main St.                               $10,500 $179,000                Neg $168,500

 

My thanks once again to Wolfman and his reports on the real (as he sees it) value of properties in Racine WI.

How long will we go on thinking that there is nothing wrong in the City of Racine?

Who/how will pay the property taxes needed to run this failing city? Do you have your plans ready to get the hell out?

The Wolfman is back!

 

 

 

 

 

 

 

 

I am very thankful for the Wolfman’s time and effort in doing this research. This is all info that I believe Mayor John Dickert you rather not know. If He could find a way to stop this information from being found he would after all we just have to believe that everything is fine. Please drink the Kool Aid and  vote Obama

 

 

Wolfman strikes back!

 

 

 

His update of housing sales. I have asked him to do a post on why the the falling prices is the beginning  of a crises  for Racine. The Wolfman has a far better grasp of this then I do.

Hi views are his own

 

Racine Property Sales for August 19,2012

Home sale prices in Racine have tumbled again. Racine Unified School District is once again over budget, overstaffed with  overcompensated Administrators who command bloated salaries. David Hazen, CFo for Racine Unified School District has this to say: “It may not make sense to the district’s taxpayers that property taxes go up when revenue and expenses are down, but in the complex area of school funding, it can and does happen… You might assume that if the district has fewer student, we should be able to easily reduce costs.”

And so, the spending will continue unabated, Racine property values will continue to drop, and residents will continue to flee the City. Note that the average difference between sale price and assessed value has widened to $53,000.

Address                                  Sale Price                  Assessed Value        Difference

2915 Carpenter Dr.                 Foreclosure                 $98,000                               -0-

3520 South wood Dr.              $88,000                       $110,000                     Neg. $22,000

3355 Fourth Ave.                     $63,450                       $90,000                       Neg. $26,550

1629 Illinois Ave.                     $63,000                       $146,000                     Neg. $83,000

1000 Harmony Dr.                  $53,900                       $131,000                     Neg. $77,100

2210 Taylor Ave.                     $52,900                       $96,000                       Neg. $43,100

2604 Ridgewod Ave.               $44,500                       $114,000                     Neg. $69,500

1632 Grange Ave.                   $39,000                       $93,000                       Neg. $54,000

1124 N. Memorial Dr.              $35,000                       $52,000                       Neg. $17,000

1508 W.Sixth St.                     $32,000                       $90,000                       Neg. $58,000

1733 Mt. Pleasant St.              $26,555                       $89,000                       Neg. $62,445

1721 Villa St.                           $20,000                       $70,000                       Neg. $50,000

56 McKinely Ave.                     $17,500                       $70,000                       Neg. $52,500

1625 Albert St.                        $15,000                       $55,000                       Neg. $40,000

1718 Grand Ave.                     $15,000                       $76,000                       Neg. $61,000

937 Grand Ave.                       $11,200                       $85,000                       Neg. $73,800

——————————————————————————————————-

 

My Note

 

The City of Racine wants to build houses at about $200Kas I was told by an Alderman “Someone might come by and buy it.”  Wow.

Wolfman speaks of the death of Racine housing values.

Again Wolfman reports on the declining home values in Racine WI

The Formatting got strange my Bad

Home Sales for Racine: week ending August 12, 2012

Housing prices continue to plummet, and I have found that when I attempt to verify the sale via the City of Racine Property Assessment page that not all sales have been updated in the records. Hence a question remains as to the validity of the sale. Prices are all over the place, but be assured that Racine has a surplus of properties and few buyers. If you have overpaid – you were most likely victimized by a Realtor talking their book.  Realtors are paid on commission – based upon a percentage of the sale – and want to increase the price as much as possible – therefore Realtors are “friendly” – but they are by no means your friend.

In Racine, one needs to be aware that many houses are NOT updated – with appropriate double pane insulated glass windows, electrical boxes have not been upgraded to code and  illegal and unsafe electrical and  plumbing work is common. Roofs have not been properly roofed, and HVAC systems are old and not of an efficient, modern design.  Many older houses are asbestos filled – some have asbestos roof shingles, asbestos siding, and asbestos around old heating ducts.  Demand a proper inspection and require written and signed warranties that all work has been properly done. Many people have found that they have purchased a lemon, and those mistakes can cost tens of thousands of  $$$ to fix.

Address                                               Sale Price            Assessed Price                  Difference

842 Main St.                                       $170,000              $515,000                              Neg. $345,000

4717 Kinzie Ave.                               $133,000              $132,000                              Pos. $1,000

3118 N.Main St.                                $120,000              $132,000                              Neg. $8,000

2834 Cleveland Ave.                       $117,500              $114,000                              Pos. $3,500

1336 Deane Blvd                              $110,900              $120,000                              Neg. $9,100

3434 First Ave.                                  $100,000              $106,000                              Neg. $6,000

2547 Ridgewood Ave.                    $80,000 $114,000                                             Neg. $34,000

930 Racine St.                                    $77,900 $58,000                 Foreclosure

2023 Indiana St.                                                $76,000 $80,000                 Neg. $4,000

2622 Olive St.                                    $73,900 $85,000                 Neg. $11,100

1758 Illinois St.                                 $72,000 $72,000                            -0-

1540 Blaine Ave.                              $67,500 $104,000               Neg. $36,500

1641 Grange Ave.                             $54,500 $91,000                 Neg. $36,500

1302 Russett St.                                $39,000 $78,000                 Neg. $39,000

1439 Summit Ave.                           $33,020 $68,000                 Neg. $34,980

1716 Linden St.                                 $27,000 $52,000                 Neg . $25,000

722 Belmont St.                               $25,000 $54,000                 Neg.  $29,000

1325 Villa St.                                      $18,100 $54,000                 Neg. $35,900

1515 Maple St.                                  $13,000 $68,000                 Neg. $ 55,000

814 17th. St.                                         $13,000 $43,000                 Neg. $30,000

_________________________________________________________________

So how is the City going to fond the money it so badly needs, or will Mayor John Dickert say “Do not worry be  happy!”

 

Why is this an issue? Raciner can only borrow based on the amount of the value of the City, so when the property values drop so does the amount we can get in Bonds. Now add  to this if/when our credit goes down the cost of the Bonds go up.

Fun Fun Fun for the City of Racine!