Category: Featured Post

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Come Experience Capitol West!

Capitol West condominium homes are a site to behold in both design and location. Just three blocks away from the Capitol Square, State Street and the Overture Center for the Arts, this urban community is within walking distance of all things Madison. Whether you are interested in 309 W.Washington, Capitol Court Townhomes + Washington Rowhouses or Broom Street Lofts, you will find a variety of floor plans, finishes and price points to consider.

The model is open daily and we will happily arrange a private showing upon request by emailing Heidi at heidi@glassslipperhomes.com. We look forward to welcoming YOU to the Capitol West community soon!

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Glass Slipper Homes Q&A with the Wisconsin State Journal

Last week, I had the pleasure of talking to Karen Rivedal about Glass Slipper Homes and the real estate market here in Madison.  Today that conversation is now in the Wisconsin State Journal!

 Here is a taste to get you started:

For Heidi Uhrig, successfully buying or selling a house for somebody isn’t the end of a process, it’s where things really start.

I frequently have clients call me months, even years, after a sale to ask for recommendations regarding remodeling, furniture shopping, appliances, you name it,” said Uhrig, a real estate agent since 2005 and broker/owner of her own independent real estate company, Glass Slipper Homes, since last year.

Read the rest of the article at the Wisconsin State Journal!

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Fannie Mae’s New Enforcement On Strategic Defaults

With more than 5 million home owners unable to make their monthly mortgage or currently in default, lending giant Fannie Mae has started to get tough on strategic default.

At the end of June, Fannie Mae announced that it would no longer look the other way from borrowers who walk on their mortgage. They also announced that the penalty would be a seven year ban from the GSE (Government Sponsored Enterprise) program. Additionally, Fannie plans to take legal action against borrowers who strategically default on their loans.

While Fannie Mae is standing tough on their decision, the reality is that with unemployment still at 9.5% or higher in some regions and a sluggish economy is having many home owners feel that they have no choice but to walk away from mortgages that they have no hope of catching up on.

 “We’re taking these steps to highlight the importance of working with your servicer,” said Terence Edwards, Fannie’s executive vice president for credit portfolio management. “Walking away from a mortgage is bad for borrowers and bad for communities and our approach is meant to deter the disturbing trend toward strategic defaulting. On the flip side, borrowers facing hardship who make a good faith effort to resolve their situation with their servicer will preserve the option to be considered for a future Fannie Mae loan in a shorter period of time.”

Here’s how Fannie breaks it out:

  • Deed-in-Lieu of Foreclosure> — reduced from four years to two years with 20% down; four years with 10%.
  • Pre Foreclosure Sale — two years with 20% down; four years with 10%.
  • Short Sale— will be the same as pre-foreclosure sale
  • Strategic Default (Walk Away) — seven years.

Many experts are fearful that this move will contribute to the already dismally depressed home market by cutting out the government backed borrowers. Fannie Mae and Freddie Mac, fund more than 90% of new mortgages and so far, Freddie has not followed suit.

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ZOOM! WHIZ! WOW! A High-Speed History of Madison’s Soap Box Derby

Learn about the history and experience the thrill of the soap box derby’s heyday in Madison from the mid-1930s through the 1950s as well as the excitement of today’s derby-racing action.  Visit Madison’s Wisconsin Historical Museum for this unique exhibit.  See unique cars, mementos, souvenirs, photos, and film from the days when zooming down a hill in a home-built car was the most fun a kid could have.

This interesting exhibit will run from June 26, 2010 – September 11, 2010. Located on the Capitol Square in Madison, the Wisconsin Historical Museum is full of wonderful information about the State’s rich history. The museum is open from 9am-4pm daily and is located: 30 N Carroll St . Madison, Wisconsin 53703 and you can reach them by (608) 264-6555.  Suggested Donation is $2.00/person

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Architect Marshall Erdman

One of most famous and pivotal of the Madison area architects is Marshall Erdman. Mr. Erdman was the founder of Marshall Erdman and Associates, one of the nation’s leading designer and builder of medical outpatient facilities. Established in 1951, the firm has its headquarters and Midwest Division in Madison, Wisconsin.

Marshall Erdman was often called a visionary.  In the 1950’s he worked with Frank Lloyd Wright on the design and construction of housing and the landmark Madison First Unitarian Church. In the years that followed, Erdman served as a consultant to the Peace Corps and was involved in many community and state boards and commissions, while continuing to oversee operation of the firm. A few years later saw the production and sales of the “U-Form-It” House, using precut, pre-marked lumber and cabinetry. In 1953 LIFE Magazine featured the home with this comment: “…Neither the first nor the cheapest but probably the best designed manufactured house.”

 In 1980, Marshall Erdman introduced a line of high quality furniture and cabinetry known as Techline. Later that year, due to his efforts in Wisconsin the Company was awarded a contract to design-build the state office building, GEF III (General Executive Facility – 3). This project set many records for excellence of construction, energy efficiency, short construction time and cost savings. GEF III was the third office building built for the State of Wisconsin. The contract called for 50-50 sharing of savings from the contract price. When the building was completed, ME&A returned over $150,000 to the State. The first year it cost 0.15 cents/square foot to heat GEF III versus at 6.14 cents/square foot to heat GEF.

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