Extreme Property Line Disputes

Ever had a neighbor that insisted that the property line was different than your belief?  Did he sue you?  Make life miserable in other ways? Well, here’s a rather extreme story.

A Norwegian man believed that his neighbor’s outhouse (which had been converted to a shed) was encroaching on his property.  While his neighbors were vacationing, he hired two workers to cut the offending piece of the building off, then he dumped the debris in their garden.

Turns out he was wrong.  You saw that coming, didn’t you? 

After a year of legal proceedings, he was charged with aggravated vandalism. No word on the sentence, but this same man has had other property disputes with other neighbors where he was also wrong and had destroyed property.

At what point do you think it’s not wise to get a survey?  Read the full story here.

And if you have real estate questions, feel free to call me - preferably before you destroy your neighbor's shed.  At least I'll recommend you talk to an attorney first!

image courtesy of imagerymajestic/freedigitalphotos.net

Signs Of Spring

We live in a big country.  We have almost every conceivable global climate within our borders. It shouldn’t surprise us that here in SE Michigan, we can have a very lovely Spring day while our friends in Colorado are getting hammered by a snow storm.  But there are always little joys if you have your eyes and ears open.

I had the windows down as I drove today, and in a wetland area, the peepers were almost deafening.  I pulled over and just listened to the chorus of small frogs carry on for a number of minutes. 

My tulips have started to sprout, but are still quite short.  Our winter has been stubborn this year, so even with a couple of warm days, I expect more cold days to come.  Visiting a listing today, I was made happy by the appearance of another harbinger of Spring – the crocus.

Sitting in an unassuming garden bed, they were the only splash of color present.  The iridescent purple petals offset by bright orange anther were like little spotlights in an otherwise drab setting.  I grabbed my camera and took a few shots even though the overall setting was not the most attractive, but let’s face it, crocuses don’t hang around long.  You had better enjoy them when you can!

They sprout and blossom to announce the end of the winter season, then promptly go back to ‘stealth’ mode until the following year.  I’m glad I caught them when I did, and I’m glad I could take a few minutes to enjoy the spring peepers, too.

 

photo by Bob Smith

Livingston County Home Show - March 22nd-24th

If it’s time for the Livingston County Home Show, Spring can’t be far behind – regardless of the weather.

Show hours are 5-9 pm on Friday, March 22^nd, 10am – 8pm on Saturday, March 23^rd, and 10am – 4pm on Sunday, march 24^th.  It will be at the Howell High School Field House, and admission is only $6/person, $5 if you’re a senior (60 or older).  On Saturday, from 11:30 am – 3pm, the show will also feature the popular ‘Taste of Livingston’.

There are workshops and demonstrations at various times and of course, plenty of contractors and vendors to see.  If you’re planning a home project, this will time well spent.

The show is hosted by the Howell Chamber of Commerce.  Get more info at:

http://www.livingstoncountyhomeshow.com/hours.htm

Foreclosure Purchases By Owner Occupants Declining?

Wow. Real Estate Professionals know that buying a foreclosure is an economical way for first-time homebuyers to get into a house of their own, so this recent study by New Vista Asset Management surprised me a little.


As reported in DS News, New Vista began tracking foreclosure sales in Q1 of 2009 and has continued their quarterly tracking since that time. They monitor 18 national housing markets, of which only Wayne County is in Michigan, but they plan to add additional unnamed housing markets beginning in 2012.

There has been a general decline of owner occupant purchases since the advent of the data collection. An owner occupant is a homebuyer that plans to live in the house, as opposed to a purchase by an investor for rehab-resale or as a rental property. Interestingly, the only one of the eighteen markets that showed a gain in owner-occupant purchases was Wayne County, MI.

I list foreclosures, and it’s not unusual to have a stipulation in the listing agreement that says no offers will be submitted for the first 7 days, then offers from owner occupants only for the following week. However, this is not universal among banks and some entities are going to auctions and bulk sales of ‘as-is’ homes that will generally not appeal to an owner occupant, due to either the cost or scope of needed repairs.

Banks that will take the time and effort to put a home into move-in condition are the most likely to have sales completed by an owner occupant purchaser.

Howell Condominium For Sale

This 1.5 story condo was built in 1991 and has 1412 sq ft. The entry level has a bedroom and full bath, a great room with vaulted ceiling and gas fireplace and a first floor laundry.  There's another bedroom and full bath on the second floor with a walk-in closet. This is an end unit with a deck and is bank-owned. The community is not certified for FHA loans. Those wishing to make an offer must have a Wells Fargo pre-approval letter.

The full basement is unfinished, the one car attached garage does not have a door opener.  The entire condo has just been repainted and recarpeted.  A new gas range, range hood, and dishwasher have also been installed.  Association dues are $110/month, and the community is within the Howell city limits so there is city water and sanitary sewer service.

A short walk to the Howell Carnegie Library and downtown.  Click here to see the full listing.

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Community Shred Day - Saturday August 27, 2011

Matt Ikle, owner of Elite Insurance in Howell, invites the community to a Shred Day event on August 27th from 10 a.m. until 2 p.m. at his agency office, located at 3399 E. Grand River, Suite 201(Across from Home Depot). Anyone who would like to participate may bring along their confidential and personal documents to be shredded by Corrigan Record Management, free of charge from 10 a.m. until 2 p.m.

There is no charge for this service, but donations will be accepted with all proceeds going to the Spastic Paraplegia Foundation (http://www.sp-foundation.org/). The foundation is dedicated to finding the cure for spastic paraplegia as well as providing information and support.

If you have confidential documents that are in need of proper disposal, consider this event.  Identity theft is a major concern among consumers nationwide. You can visit the Elite Insurance web site at http://www.eliteinsuranceagency.com/ or call them at (517) 545-9325 for more information.

Ranch Homes For Sale in Howell



 Some home buyers have very specific requirements. Perhaps it’s a large kitchen, or a finished basement. Sometimes it’s acreage with a pole barn, occasionally it must have an in-ground swimming pool. One of the most often heard requirements is for architecture type, and it seems that ranch style is at the top of the list.


Of the 270 of homes for sale in the Howell School District right now, there are 90 ranches and only 12 are bank-owned (foreclosures). They range from a 1969-built manufactured home on deeded land (in Woodland Lake Estates) listed at $9,000 to a $1.8 million home on 204 acres in Cohoctah Township.

The low end home is bank-owned, on a small lot, has two bedrooms and two full baths and is 552 sq ft in size. It is not mentioned in the listing, but this subdivision has two Woodland Lake access parks for the residents. Woodland Lake is a large, all-sports lake and also has a Public DNR launch off Hilton Rd.

The high end house was built in 1940, is three bedroom, two bath and 1770 sq ft. The 204 acre parcel has a 5 acre private lake, and there has been engineering done to develop the land if the buyer wishes to pursue that avenue. It’s currently a farm with “excellent hunting” as an MLS (multi-list service) remark. It is also available for financing, land contract or cash terms.

There are 88 other ranch homes available in the Howell School District. If you, or somebody you know is looking for one, give me a call.

Our Real Estate Market Summary-June 2011

Locally, there is still a lower inventory, especially in homes under $180,000. The best homes (best condition at the best prices) go very fast. TIP: Get daily listings from your agent, drive by interesting properties quickly, and have your agent get you inside as soon as possible. If you like it, write an offer immediately or risk ending up in multiple offer situations or losing it before you have a chance to bid.


Interest rates remain attractive, but some lender programs are being modified to require either a larger down payment or larger ‘up front’ fees to go with 100% financing programs. Appraisals are also uncovering more issues with homes for sale and once a loan goes to the final underwriting process, it is not uncommon for even more issues to be raised. Lower income buyers in Livingston County gravitate towards the USDA Rural Development loans if they qualify, based on income. TIP: Work with a good lender to determine the very best loan instrument for you, provide them with everything they need to give you a firm pre-approval. This will prevent unpleasant surprises once you find that perfect house.

You can see that this advice is heavy on both the time and service issues. Do EVERYTHING that you can do to position yourself to move quickly in this market. I have no magical crystal ball, but while prices seem to be still trickling downwards, many are saying that the glass is half full – and getting fuller by the week. If that’s true, this is the time to buy. TIP: Work with industry professionals that are responsive to your needs and those that will have time for you. Part of that is being committed enough to the process to warrant their time commitment to you. Select one Real Estate agent to work with, and one lender, too. Get them the info they need to do the best job for YOU.