The Business Journal of Milwaukee: Housing slowdown causing pain - Contractors, unions report layoffs after peak cycle
The current state of the real estate market can be described as a buyer's market. This is great news for buyers. Unfortunately, this not only hurts sellers, but it also impacts other players in real estate (e.g. developers, builders, and contractors).
In the numbersThe number of home starts in metro-Milwaukee has dropped 30 percent through October 2006 compared to the same period in 2005. Likewise, the October 2006 building permit total is 23 percent lower than the total for October 2005. This is the lowest volume for the month of October in seven years. Building permits issued during the first ten months of 2006 are also at a seven-year low.
Consequently, subcontractors are seeking work and unionized building trade workers have been laid off. Pete Millard of The Business Journal of Milwaukee reports that unions are facing ten percent unemployment because of the slowdown.
Click here to read about how the industry plans to recapture buyers in today's slower market>>>
Buyers...There is no better time to buy…than right now! Allow me to offer you some assistance!- Real estate market has excess supply – great deals are available to those who act now!
- Seller-provided incentives may mean cash credits or upgrades
- Declining interest rates get you more home for your money (and yes, rates have declined during the past year)
- Take advantage of additional income-tax deductions
Special Offer! Mention this advertisement and receive a free, one-year HSA Home Warranty* policy if your transaction closes by March 31, 2007!
Make your move! Call me at 414/412-7980!
*HSA Home Warranty: HSA Home Warranty provides comprehensive, affordable home warranty coverage and service that's second to none. A home warranty provides coverage for homeowners when their home's
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City of Milwaukee: 2006 Property Tax Bills
Milwaukee City Treasurer Wayne Whittow announced that his office has mailed out over 163,000 property tax bills on Friday, December 8. City of Milwaukee residents should be receiving their property tax bill no later than Wednesday, December 13. If you do not receive your tax bill by Friday, December 15, you are strongly encouraged to contact the Customer Services Division at 414.286.2240.
Because city hall is still under construction, Whittow is urging taxpayers to pay their tax bill in one of three ways:
1. Mail your tax payment using the return remittance envelope enclosed with the tax bills
2. Enroll in
Electronic Funds Transfer installment payment plan3. Pay your tax bill in full using the
electronic payment optionClick here for procedures and holiday office hours>>>
The Business Journal of Milwaukee: Condo craze fuels another Mandel project - $40 million Domus planned on riverfront
The Mandel Group has plans to build a $40 million, 61-unit condominium along the northern banks of the Milwaukee River in the Historic Third Ward. Mandel's latest creation is called Domus; which is a Latin word for home or residence.
Pete Millard of The Business Journal of Milwaukee, reports that downtown Milwaukee isn't ready to bust. The Mandel Group seems to think that the luxury condominium market is very strong. The developer is responding to the demand of buyers looking for larger units. Mandel's last three developments certainly fill this need (e.g. RiverCrest, University Club Tower, and Domus).
Units at Domus will measure 2,300 square feet and up and will begin at $450,000.
For more information about Domus, call me at 414.412.7980 or e-mail at dray@shorewest.com.
The Business Journal of Milwaukee: University Club Tower nearly completed
Pete Millard of The Business Journal of Milwaukee reports that residents will soon be able to close and move into their brand new condo at The University Club. The Mandel Group broke ground on the $84 million University Club in September 2004. The developer has reported that all but seven of the condominium units are sold.
There are seven units left; priced between $1,175,000 and $1,900,000. Each unit features two bedrooms, 2-1/2 baths, 2 indoor parking spaces, lake and city views, gas fireplace, balcony, wet bar, and whirlpool tub. Remaining units range from 2,368 to 4,043 square feet. Common amenities include: fitness center, 3-lane lap pool, wine lockers, grocery delivery, 17,000 square feet of gardens and dog walk.
For more information about The University Club Tower, call me at 414.412.7980 or e-mail at dray@shorewest.com.
OnMilwaukee.com: Free parking for Christmas?
Milwaukee Alderman Robert Bauman is certainly not the Grinch. In fact, he is presenting two resolutions with the Commissioner of Public Works that will benefit the residents of his district. One resolution would prevent enforcement of parking meter regulations on Christmas Day, New Year's Day, and Martin Luther King, Jr. Jeff Sherman, OMC Staff Writer, reports that many city residents forget that the meters do not have the holidays off. This resolution will be presented to the Common Council when it meets on December 12.
Bauman's second resolution would make his streets safer for pedestrians. His proposal would give neighborhoods the power to ask the city to construct a device on dangerous streets. Examples of such a device would include roundabouts, "speed humps", or "bump outs." Bump outs are currently being used on the heavily traveled Brady Street.
Both of these resolutions could be in place by New Years Day.
Click here to read the details of Bauman's resolutions>>>
Midwest Real Estate News: Discovery opportunity sets sail
In September 2006, Pier Wisconsin opened its doors and invited the public to check out the new Discovery World. The idea behind Pier Wisconsin was to help advance the culture of the Great Lakes through education and activities. The Denis Sullivan, an 1880's-era vessel, was built in 2000 and operates as a floating classroom.
Patrick Rollens, staff writer for the Midwest Real Estate News, reports that Discovery World's move from the Milwaukee Public Museum was inevitable. With the financial struggles the museum faced, Discovery World moved to Pier Wisconsin and nearly doubled in size.
Although, the grand opening was in September, the complex is currently vacant and investors are willing to entertain ideas for the unused space.
Click here to read more about the current state of Pier Wisconsin and the ideas the investors are willing to entertain>>>
The Business Journal of Milwaukee: Downtown Holiday Inn to convert to Doubletree
The Holiday Inn on the corner of West Wisconsin Avenue and North Sixth Street will soon be a DoubleTree property in early 2007. Pete Millard of The Business Journal of Milwaukee reports that an investment group is planning to spend $6 million to renovate the 247-room hotel. Hilton Hotels Corp, the parent company of DoubleTree, is expected to sign the franchise agreement on December 15.
Click here to read more about DoubleTree's brand>>>DoubleTree is the latest hotel franchise to call Milwaukee home. Last year Comfort Inn entered the Milwaukee market in the former Park East Hotel. Recently, InterContinental Hotels Group made its debut in the former Wyndham.
Speaking of the InterContinental, you must stop by and check out the newly renovated lobby. You will find the ultra posh lounge, the
Zen Den, and the hotel's new restaurant experience,
Kil@Wat. The Zen Den has an element that one would find in clubs in larger markets like LA, Chicago, New York, or Miami.
Click here to read the write-up from OnMilwaukee.com>>>
Downtown Milwaukee Events - Through January 31, 2007
Family Events
Breakfast with Santa--------------------------The Pfister--------------------------------------Thru Dec. 23
Winter Wonder Workshops------------------Betty Brinn Children's Museum----------Dec. 26-29
MSO "Kinderkonzerts: Bob McGrath---Marcus Center for the Performing Arts----Jan. 21
Comedy
A Very Merry McGivern--------------------Off-Broadway Theatre--------------------------Dec. 19-31
Katheen Dunbar-------------------------------Potawatomi Bingo Casino------------------------Dec. 23
Community Events
Latke Vodka-------------------------------------Milwaukee Public Museum----------------------Dec. 23
The Alpha Kappa Alpha Story---------Milwaukee County Historical Society-------Jan. 20
Elfriede Howard Basket Collection----Milwaukee Public Museum
Tools From A Different Shed------------Milwaukee Public Museum
"Sonicvision"-----------------------------------Milwaukee Public Museum
"Stars of the Pharaohs"---------------------Milwaukee Public Museum
"Wonders of the Universe"----------------Milwaukee Public Museum
Film
Magnificent Desolation Humphrey------IMAX Theater / Planetarium------------Thru Jan. 4
Classic Movies in a Classic Museum----Charles Allis Art Museum-------------Jan. 3, 17, 31
Aliens of the Deep Humphrey------------ IMAX Theater / Planetarium
Holiday (Christmas & New Years Events)
Milwaukee Holiday Lights Festival------Downtown Milwaukee--------------------Thru Dec. 30
Christmas Choirs---------------------------------The Pfister----------------------------------------Dec. 18-21
A Brenda Lee Christmas---------------------Potawatomi Bingo Casino-----------------Dec. 20-21
Saturdays with Santa-------------------------The Shops of Grand Avenue-----------Thru Dec. 23
A Christmas Story-------------------------------First Stage Children's Theater--------Thru Dec. 24
Christmas Champagne Brunch-----------The Pfister----------------------------------------------Dec. 25
Holiday Choral Performance--------------Milwaukee Art Museum---------------------------Dec. 30
Caricatures by Bill Begos-------------------Riverside Theater------------------------------------Dec. 31
Downtown New Year's Eve Party--------Red Arrow Park----------------------------------------Dec. 31
Harlem Globetrotters--------------------------Bradley Center----------------------------------------Dec. 31
NYE w/ Rusty Ps and DJ Madhatter-----Wicked Hop--------------------------------------------Dec. 31
News Year's Eve at Noon!-------------------Betty Brinn Children's Museum----------------Dec. 31
NYE Miller Time Pub Crawl---------------Hilton Milwaukee City Center-------------------Dec. 31
Ultimate New Year's Eve--------------------The Pfister-----------------------------------------------Dec. 31
Lecture
"The Christmas Tree Ship"----------------Milwaukee Co. Historical Society-------------Dec. 21
Music
Milwaukee Symphony Orchestra----------Marcus Center for Performing Arts
Una Van Duvall, Sweet Ernest Collins--Barclay Gallery & Garden Café-----Thru Dec. 21
Linda Stephens in "Imagine That”-------Broadway Theatre Center-------------Thru Dec. 23
Lorie Line 2006 Holiday Tour--------------Milwaukee Theatre--------------------------------Dec. 20
Ian Gould--------------------------------------------County Clare------------------------------------------Dec. 23
R&B Cadets & the Subcontinentals------Shank Hall---------------------------------------------Dec. 23
Salt Shakers-----------------------------------------Yield------------------------------------------------------Dec. 26
Trans-Siberian Orchestra---------------------Bradley Center---------------------------------------Dec. 28
Daryl Stuermer------------------------------------Shank Hall----------------------------------------------Dec. 29
Twice Baked Potato-----------------------------Live-------------------------------------------------------Dec. 29
CAKE--------------------------------------------------Riverside Theater-----------------------------------Dec. 31
Piranesi w/ The Florentine Opera--------Villa Terrace Decorative Arts Museum-----Jan. 7
The Missing-----------------------------------------Yield-------------------------------------------------------Jan. 9
High School Musical---------------------------Bradley Center---------------------------------------Jan. 21
Sports - Marquette University
Women's Basketball vs. Manhattan--------Al McGuire Center------------------------------Dec. 21
Men's Basketball vs. Morgan State--------Bradley Center------------------------------------Dec. 22
Women's Basketball vs. Navy-----------------Al McGuire Center------------------------------Dec. 29
Men's Basketball vs. Savannah State-----Bradley Center-----------------------------------Dec. 30
Women's Basketball vs. Syracuse-----------Al McGuire Center--------------------------------Jan. 3
Sports - Milwaukee Admirals
Opponent: Chicago Wolves------------------Bradley Center-----------------------------------Dec. 26
Opponent: Grand Rapids Griffins----------Bradley Center-----------------------------------Dec. 29
Sports - Milwaukee Bucks
Opponent: Miami Heat------------------------Bradley Center-----------------------------------Dec. 20
Opponent: New Jersey Nets-----------------Bradley Center-----------------------------------Dec. 23
Opponent: Washington Wizards-----------Bradley Center-----------------------------------Dec. 30
Sports - Milwaukee Wave
Opponent: Philadelphia KiXX-------------U.S. Cellular Arena---------------------------Dec. 31
Sports - MSOE
Women's Basketball vs. Benedictine-----Kern Center-------------------------------------Dec. 21
Men's Basketball vs. U of Chicago--------Kern Center---------------------------------------Jan. 2
Women's Basketball vs. Alverno-----------Kern Center---------------------------------------Jan. 3
Men's Basketball vs. Northland-------------Kern Center---------------------------------------Jan. 3
Sports - UWM
Men's Basketball vs. Wyoming-------------U.S. Cellular Arena--------------------------Dec. 27
Men's Basketball vs. Butler------------------U.S. Cellular Arena--------------------------Dec. 30
Men's Basketball vs. Detroit-----------------U.S. Cellular Arena----------------------------Jan. 4
Theater
South Pacific-----------------------------------Skylight Opera Theatre-------------------Thru Dec. 23
A Christmas Carol----------------------------Pabst Theater----------------------------------Thru Dec. 24
A Cudahy Caroler Christmas------------Marcus Center for the Perform. Arts--Thru Dec. 31
"Born Yesterday"-----------------------------Milwaukee Repertory Theater-----------Thru Dec. 31
"Holiday Punch"------------------------------Off The Wall Theatre--------------------------Dec. 14-31
"The Nutcracker"-----------------------------Marcus Center for the Performing Arts--Dec. 15-29
Edith Piaf Onstage w/ L. Fitzwater--Skylight Opera Theatre----------------Dec. 29 - Jan. 7
Hamlet-------------------------------------------Off-Broadway Theatre---------------------------------Jan. 5
Translations------------------------------------Milwaukee Repertory Theater-----Jan. 10 - Feb. 11
They Came From Way Out There----Milwaukee Repertory Theater----Jan. 12 - Mar. 11
Frozen--------------------------------------------Milwaukee Repertory Theater----Jan. 19 – Feb. 18
Visual Arts
Acrylics by Kpetenkple-----------------------David Barnett Gallery----------------------Thru Dec. 30
Treasures from Zimbabwe------------------David Barnett Gallery----------------------Thru Dec. 30
Biedermeier: Invention of Simplicity--Milwaukee Art Museum---------------------Thru Jan. 1
In Living Color------------------------------------Milwaukee Art Museum--------------------Thru Jan. 7
Charles Dix - Opening Reception--------Charles Allis Art Museum---------------Thru Jan. 28
Piranesi: Grandeur of Ancient Rome---Villa Terrace Dec. Arts Museum----Thru Feb. 11
Industrial Design Alumni Exhibition-----Milwaukee Institute of Art & Design
Nunnemacher Arms Collection------------Milwaukee Art Museum
