Then and Gone - 406 N. Spring Street, Beaver Dam

As far as I can tell, there will be no "Now" picture of this home.  The 400 block of North Spring Street is now the location of the middle school athletic field and the post office.

My only hope is that - as often happened at the time - this home was moved from this location to some other final resting place.  So, keep your eyes open for this home, or maybe you have first-hand knowledge of its fate.  Did you witness its demise?  Let us know.

As for the "Then" house; what a beautiful residence.  .  Whoever E.C. McFetridge (the surname is Scottish or Irish) was, it is apparent that he and his family loved trees.  The owner planted more trees on his property than I've seen on any other.  The picture was dated - 1880.  I believe that date is questionable, and here's why.  One thing that you can not see in this photo, but that I did using a magnifying glass, is a lady standing in the doorway. She is wearing a hoop style dress which would place the date pre 1870.  You might have noticed the large wood-pile to the left of the porch.  Coal became the preferred fuel in cities, replacing wood by about 1850. 

Jessica and Josh Gulke - get a house

Every home is different and every home transaction is unique - AND every home buyer stands out in my mind.  I know that you have your work cut out for you on this home, but it sounds like you have a good handle on it.  Let me know when the house-warming party is.

Being that this was a short-sale made the deal a little stressful, but all-in-all, in the end, it is yours.

It was great working with you both - the neighbors are really looking forward to meeting the owner of "that car"

Brian

Sam and Jay buy a house

I'll see you both on Saturday; I'll bring the pizza and beer.  That usually makes moving-day go easier.  I can't wait to see the house once Sam has put her cleaning skills to the test; hope you live through this time Jay.  It was a pleasure working with you both.  I learned that even if you work for a bank, you should still shop around for your loan.  Congratulations - let's make it a home!

Then and Now - 509 North Spring Street, Beaver Dam

                                           Who were these finely dressed folks, what was their relationship to each other (why is the lady standing almost out of the staged pose)?   Let's see what we can determine from this photo. 

The style of dress, and even the way that the ladies styled their hair may give us some clues as to the year.  The man sitting on the ground has on a 3-piece suit and a bowler hat, while the ladies are wearing high-wasted, narrow (not hoop) skirts that give an apron appearance.  This might mean that this picture was taken around 1870-1880 (Victorian).  Can we assume that these are working-class folks since the fabric is of a sturdier sort?   It must be around October since many of the leaves have fallen off of the tree.  It is around 1:00 in the afternoon as you can tell by the shadows.  So, now a trip to the register of deeds office in Juneau to further the investigation.

A fire in 1877 destroyed most of the register's records, so a trip over to Guaranty Title Company did the trick.  Thomas Makie acquired most of this area from the United States in 1840, and by 1853 Daniel Bicknell bought it to create a subdivision.  In 1854 Bicknell sold lots 1,2,3, and 4 (which constitutes most of the land under the 4 houses surrounding this home now) to George and Eunice Darrah (he operated a limekiln) who then sold it to Horace and Cynthia Patch (might have been a Captain in the Army of the Republic and maybe an attorney).  They lived here until 1883 when they sold it to Carl Helbing (who ran a drug store).  So, which family is this then: Darreh (the limekiln owner), Patch (the Capt), or Helbing (the drug store owner)?  Could it be that on Oct 18, 1883 (the day that Patch sold the home to Helbing) they wanted to capture this auspicious moment in a photo?

As for the house - Then and Now - although there have been many changes, we can still see clearly that the two houses are indeed one and the same.    The home is now a 2-family home - as has been the fate of many of the larger homes.  I was unable to take the photo in exactly the same spot as the original photographer since there is now a row of trees in the way.  One thing that has become apparent to me is that the street elevations have changed the character of the land - notice that I am standing substantially lower than the Then photographer since in the Now photo we are unable to see the roof as we do in the Then photo.  Notice in the rear of the home that there is a thicket where now stand only homes.  The roof Then is made of cedar shakes, and the dormer, porch and bump-out (on the south) are adorned with scalloped cedar shingles.  There is a barn to the north that is now history - as is the large chimney, and the pretty front porch.  The shutters were purely functional Then, while Now the original shutters have been replaced with those that are purely decorative. 

The Then home has such "clean" lines - no wires (electricity did not arrive until around 1910), no satellite dish, no downspout to distract us.  Maybe it is the color photo that complicates things - I'll try a black and white next time to try and even things up.

What do you know of this home, the families who lived here?  Feel free to add your thoughts.

Then and Now - 608 Beaver Street, Beaver Dam, WI

Hard to believe that these are the same house.  Since 1856, when this home was built, much has changed - not just to the home, but to the entire area.  In 1856, Beaver Street was on the western edge of the city - no real streets were in existence west of Center Street nor north of Mackie Street.  This home was built, along with a few others, on unplatted land (land not laid out for city blocks).  There was probably a dirt road off of Center Street that was used to access this home and others in the area.  Notice in the "Then" picture that the people are standing where Beaver Street is now; also notice that it is at the same grade as with the house.  Now, the street is much lower than the house - you have to drive up an incline.

The most dramatic change to this home is to the roof-line.  The box front or commercial appearance was removed as were the two chimneys.  You can see - right above the stone lentils (above each window) on the left side is the old roof-line.  Obviously, the original brick has been painted over (maybe many times).  The shutters are original but no-longer functional (shutters back then were there to actually close, protecting the windows and damping light).  It is quite subtle, but notice that in the Now, we have electrical and phone  service on the left front corner where there was none.  The wood, double-hung windows have been replaced as you see - the mullions (the grids in the windows) are gone in the Now.

What other changes do you notice?    The front porch has been dramatically changed.  It was originally made of wrought iron; notice on the roof of the porch - there is a small wrought iron fence.  The entrance is also in the middle - not on the side as it is Now.  One other change is to the small screened area - Then (on left side of home).  The pitch of the roof is Now different, the room is Now enclosed.

The sheds to the rear and side of the home have been removed.  The hitching post for the horse and wagon are long gone as are the Thorp family members in the photo

Feel free to add your observations and historical notes.

I will add another Then and Now story in a few weeks

Melissa and Austin Kauth

I get a lot of satisfaction with helping people find the home of their dreams, but sure I like to know that they appreciated my efforts, SO when Melissa said "I Love You" in a misdirected email to me meant for her husband, I really felt great.  Even if you didn't mean it for me, I really appreciate the Freudian slip.

Kris over at Inlanta did a great job with the financing too.  Who else should get a shout out....how about uncle John (it was John right?) who travel in the snow to give his approval. 

It was great working with you both.  I truly enjoyed myself....let's do it again soon - just kidding

The Perfect Flip

The rules of buying a home do not change when doing a flip.  The important issues still remain; what is the marketability of the subject property (location, market appeal).  The mistake that I see most often made by the non-savvy buyer is that they try to buy the cheapest house they can find - forgetting that they will have to find interested buyers for it. 

The flipper should always work backwards into the flip - how much can you REASONABLY expect to sell your flip for on the open market, minus the expenses of marketing and renovations.  So, for example; if you determine (after consulting with your trusted real estate advisor)  that you can sell the subject home for $100,000, and that you expect to have 7%  in marketing and closing cost, and have budgeted $30,000 in renovation cost, then paying $60,000 for this property would give you a profit of only $3,000.  Don't forget your purchase expenses, holding cost, and your tax consequence for next year. 

Due diligence is a term that applies to all of the background investigations you do with the property prior to becoming obligated to buy it.  We'll leave the title investigation up to the title company, and we'll pass on the liability to them as well.  Performing a thorough inspection of the property is just good business.  Walk the property with your contractors.  Most importantly, consult with your Realtor to determine where you should place your renovation dollars.  He will help you with making the property more marketable to the largest number of buyers.  He'll also help you save money.  Some renovations will not increase the value of the property, but will make the difference between a marketable and unmarketable home.

Wouldn't it be great if you didn't have to pay any capital gains tax on your profits.  Well, you don't.  The best flip of all is the one that you hold onto for 2 years.  Move into it and make it your primary residence.  At the end of the 2 years, sell it and pay no capital gain tax.