Historic Home From Frank Lloyd Wright’s Usonian Period in Wisconsin Available for $425K

This Usonian gem was bought by a Texas couple as a vacation home. Now they hope to find a buyer who's just as smitten with the architecture of Frank Lloyd Wright. The post Historic Home From Frank Lloyd Wright’s Usonian Period in Wisconsin Available for $425K appeared first on Real Estate News & Insights | realtor.com®.

Historic Home From Frank Lloyd Wright’s Usonian Period in Wisconsin Available for $425K

This Usonian gem in Wausau, WI, was snapped up by a Texas couple as a vacation home in Northern Wisconsin. Now they hope to find a new occupant who’s just as smitten with the architecture of Frank Lloyd Wright.

“We were looking for a Frank Lloyd Wright home—it didn’t matter where—at a price we could afford,” explains homeowner David Wood.

They ended up purchasing the four-bedroom, three-bathroom Charles and Dorothy Manson home. Built in 1940, it is considered an early piece from Wright’s Usonian period.

When Wood saw the home six years ago, he made an offer with no contingencies, getting it for $160,000. Now that he’s spending less time in Wisconsin, he’s ready to unload the 2,462-square-foot home for $425,000.

Constructed from local Ringle bricks and Tidewater cypress in a board and batten design, the home earned a spot on the National Register of Historic Places during Wood’s ownership.

Wood thinks the next owner might be in search of a “trophy home” or a secondary residence. Interest so far has come from architects.

“We’re not looking for a local person so much,” says Wood, “because it’s a unique home. I’m not looking for the casual ‘Gee, this has been in the area for years and I’m finally going to take a look’ type of buyer.”

Wright fans will recognize his signature perforated windows and compressed entry hall and gallery. There’s also an abundance of light in the living room thanks to a wall of windows and 11-foot ceiling.

Front exterior

Bryan Hung

Exterior

Bryan Hung

Living room

Bryan Hung

Living room

Bryan Hung

Gallery

Bryan Hung

Kitchen

Bryan Hung

Master bedroom

Bryan Hung

Master bath

Bryan Hung

Although the Manson family kept the property until the late 1960s, “there’s been maybe nine or 10 different families over the years” who have owned the home, says Wood. Of those families, “two still live in the area.”

As with Wright’s other Usonian homes, the residence sits slightly lower than street level and features a long, horizontal design. The original carport was turned into a storage room by a previous owner, but it’s now been restored.

Wood and his spouse updated the home while maintaining the architectural integrity. They worked with the local historic preservation committee to replace the pebble and tar flat roof with a rubber roof. They also refinished and restained the exterior wood, restored the second-floor bath, and remodeled the kitchen.

Other upgrades include new landscaping, working fireplaces, and an updated heating system. They also created custom seat cushions and insulated curtains.

Using Wright’s blueprints—which come with the house—they commissioned furnishings for the home. Several pieces will remain with the home, including the dining chairs and the framed photos in the 44-foot-long gallery. Also included in the home sale: the original clothes-drying rack and an adjacent 0.34-acre lot just north of the property.

The home fits seamlessly into its surroundings.

“A lot of historic homes are in this area,” says Wood. “Several homes are on the National Register of Historic Places. It is very hilly, very green, and the neighbors are wonderful.”

———

Watch: This Frank Lloyd Wright Home Is a Classic That Feels Modern

 

The post Historic Home From Frank Lloyd Wright’s Usonian Period in Wisconsin Available for $425K appeared first on Real Estate News & Insights | realtor.com®.

Source : Realtor More   

What's Your Reaction?

like
0
dislike
0
love
0
funny
0
angry
0
sad
0
wow
0

Next Article

Will the Government Stop a Wave of Struggling Renters From Being Evicted?

With millions of Americans out of work and struggling to pay their rent, the government is offering landlords a break to avert a wave of evictions.  The post Will the Government Stop a Wave of Struggling Renters From Being Evicted? appeared first on Real Estate News & Insights | realtor.com®.

Will the Government Stop a Wave of Struggling Renters From Being Evicted?

With millions of Americans out of work and struggling to pay their rent, the federal government is offering landlords a break in the hopes it will avert a tidal wave of evictions.

The Federal Housing Finance Agency announced on Monday that landlords with government-backed mortgages are eligible for an additional three months of mortgage forbearance—provided they don’t evict tenants who can’t pay their rent during that time. The initial forbearance period, in which building owners suffering coronavirus-related hardships could put off their mortgage payments, was about to expire for those who had sought assistance at the start of the pandemic. The extension is designed to trickle down to renters by taking the pressure off landlords who are on the hook for their own monthly mortgage payments.

The forbearance is only for owners of multifamily properties of five or more units who have mortgages backed by Fannie Mae and Freddie Mac. Landlords must be facing financial hardship due to the coronavirus to receive the assistance.

“This is essentially a win-win for the landlord and the tenant,” says George Ratiu, senior economist with realtor.com®. “Landlords were still expected to pay down their mortgages without revenue [aka rent checks] coming in. What we were looking at was a potential mass wave of evictions as the prior forbearance period was coming to an end. We still have over 20 million Americans drawing unemployment.”

This could potentially help about 4.2 million renters living in more than 27,000 properties that would qualify for this temporary relief, according to Freddie Mac. That’s a little less than a tenth of the almost 44 million renter households in the U.S. in 2018, according to . However, the rest of the mortgage market takes cues from the actions that Fannie Mae and Freddie Mac take, so the impact is potentially even greater.

“The multifamily mortgage forbearance extension announced today will help renters stay in their homes and help property owners retain their properties,” FHFA Director Mark Calabria said in a statement.

Once the forbearance is up, landlords can apply to have up to two years to make up the missed mortgage payments. During that time, the building owners must extend some protections to their tenants. Renters must be given at least a 30-day notice to leave the property, and they can’t be charged fees for late or missed rent payments. In addition, renters will be allowed to make up missed payments over time and not be required to hand over a lump sum—an impossibility for many struggling tenants.

“These additional relief options will provide more flexibility to borrowers and extend tenant protections for renters who also continue to struggle with the economic effects of the pandemic,” Debby Jenkins, executive vice president and head of Freddie Mac Multifamily, said in a statement.

Renters aren’t as well-positioned to weather a recession as many homeowners. They made a median $41,515 in 2017—compared with $77,523 for homeowner households, according to a National Multifamily Housing Council report.

Meanwhile, many tenants work in lower-wage industries that have been hard-hit by the pandemic, such as tourism and hospitality, food service, and retail. With a 13.3% unemployment rate in May, not all of these folks have gone back to work yet. That makes coming up with the rent money each month a challenge.

“This is the best and fastest way that the government can provide relief to renters,” says Ratiu. “It allows the property owner to avoid taking a loss.”

The post Will the Government Stop a Wave of Struggling Renters From Being Evicted? appeared first on Real Estate News & Insights | realtor.com®.

Source : Realtor More   

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.