The First Robin of Spring

Here in SE Michigan the '1st Robin of Spring' usually means warmer, nicer weather. Not today.

For the last couple of years, the weather on St. Patrick's Day has been in the 70's. In fact, for the last two years, I've been able to get my first round of golf for the year played on March 16th or 17th. Not this year. It appears that our local groundhog prognosticator, Woody the Woodchuck (who resides at the Howell Nature and Conference Center) and the nationally known Puxsatawny Phil have both misled us. Early Spring, indeed.

It was still great to see a relatively plump robin in my serviceberry tree this morning, even though we had a light snow overnight. And Spring often means that home sellers are getting ready to list homes. If that's you, consider calling me for a frank discussion on price trends and market dynamics. I'd love the opportunity to help you with your real estate needs.

photo courtesy James Baker, freedigitalphotos.net

Brighton Trail Race, 3/23/13-No Frills All Thrills

On Saturday, March 23rd, the Brighton Area Road Striders (BARS) will host their annual race, the No Frills All Thrills Trail Run at the Huron Meadows Metropark in Brighton.

This year, the race changes from a 5 mile distance to an 8K (4.97 miles).  New this year is the 'Half Thrills' 4K event (2.48 miles) if you're not in shape to go the full distance - or if you just want to finish earlier and get back to the refreshment table before the 8K'ers come in.

The race is professionally timed, offers unique awards and has been a staple on the early season trail running circuit for many years.  The park offers gently rolling hills with heated rest rooms.  A metropark pass is required to get into the park and you can buy either a daily or season pass on the day of the event.  Season passes are good for all Huron Clinton Metroparks in SE Michigan through 12/31/13.

Starting in 2010, BARS began donating most of the race proceeds to Girls on the Run of SE Michigan, and plan to continue that effort again in 2013.  Girls on the Run is a program for 8-12 year olds that uses running to teach girls about their personal power and the importance of being active and healthy.

For more info on this event, see the race web site at http://nofrillsallthrillsrace.com.  You can find out more about Girls on the Run at http://girlsontherunsemi.org, and visit the BARS running club web site at http://www.BrightonAreaRoadStriders.org.  BARS also has a weekly run, Wednesdays at 6:30 pm, beginning at the Brighton HS Fieldhouse.  Check their website for updates as they run from downtown Brighton once a month, too.

So let's get out there and run!

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

Change Your Smoke Detector Batteries Saturday March 9th

We all know that it’s a great, easy to remember time to change your smoke detector batteries when we adjust our clocks to ‘Spring Forward’.  But so many of our devices are now ‘smart’ and change time automatically that we may overlook changing the batteries in our smoke detectors.

Even if you have hardwired detectors, the battery backup is essential for times when you may lose power.  And why wait?  Who wants to hear the annoying chirp-chirp of a smoke detector?

While you’re at it, consider upgrading your protection to a combination smoke-carbon monoxide detector.  They start as low as $33, and if you’re already using a separate plug-in model CO2 detector, you can reclaim some outlet space and get rid of those clunky looking devices, too.  It’s a much cleaner look to have the combination ceiling detectors.  In any case, you should have a CO2 detector on each floor of your house and within 15 feet of the bedrooms to insure that everyone will hear it if it sounds while you’re sleeping. 

Many fire departments will donate and install smoke detectors for free to struggling families.  Don’t overlook neighbors, senior citizens or fellow church members that may be having a tough time financially.  Fires are devastating, and a smoke detector is your front line of defense.

Homeowners - A Property Tax Appeal Guideline

For those of you that are homeowners and who haven’t yet subscribed to my real estate e-newsletter (why not?), here’s some great information for appealing your property tax assessment that you probably missed seeing.  I get numerous calls every year about this very topic – this year they started in January.

State Senator Joe Hune (22^nd Senate District) has put together a very informative brochure that you will find useful if you want to make an appeal.  First, you have to appeal to your municipal Board of Review.  Don’t forget to make an appointment for this!

 If you fail at the local level, you can appeal to the State Tax Tribunal.  The brochure correctly states that you do not need an attorney to do this, but my anecdotal evidence over the years seems to point to a higher success rate when you are represented by either an attorney or a Certified Public Accountant (CPA).

Follow the format in the brochure to be as well prepared as possible. 

Editor Note: Because I have shifted web platforms, the link to the guide is no longer available. Feel free to contact me by email and I'll be happy to send the guide to you.

And if you'd like to subscribe to my newsletter, click on the 'Join My Mailing List' button on the right side of this blog.

First Time Buyer Programs

First time buyers are finding the combination of a USDA Rural Development loan and a Michigan State Housing Development Authority (MSHDA) $3,000 grant a great combination.  First time buyers for purposes of the MSHDA grant have a few stipulations, but you can review the program outline here.

Not all locations are approved for the USDA Rural Development (RD) program.  Your lender or real estate agent can check to see if the house you are interested in qualifies by its location.  All homes in Livingston County qualify, even if they're located within the cities of Howell or Brighton. Please note that RD has its own buyer qualifications, too.

If you write an offer on a property and are using Rural Development, be sure to increase the usual time to close, as the offices handling those loans typically have a backlog of up to 28 additional days.  Again, your agent or lender can guide you on current backlog times.

Affordable homes are flying off the market, so it makes sense to have a game plan in place.  Get pre-approved, know what type of loan you're going to use, and be prepared to write that offer with the most information you can get.  A good lender and a great real estate professional can help you get there.  And feel free to call me if you have questions.

Who Says You Can't Get Blood Out Of A Seller?

Can't get blood out of a seller? Or a buyer?  Or how about a real estate professional, a lender or even a turnip?  Well, yes you can.  OK, maybe not the turnip.  But you can get blood out of the rest of the above - and from yourself.
 
As part of its ongoing community service activities, Preview Properties in Brighton, Michigan is hosting a blood drive for the American Red Cross on Tuesday, January 29th from 11 am to 4:45 pm.  Donating is easy and you get the chance to potentially affect the lives of 3 people in a positive way.  And while supplies last, donors will be getting coupons for a free donut from Dunkin' Donuts.  So if you know any policeman that can swing by, this might be right up their alley!

You can sign up and schedule your appointment at http://redcrossblood.org (Sponsor Code is PREVIEW) or call 1-800-RED CROSS. You may also call Lisa Bohlen at 810-220-1505.   Appointments are honored, walk-ins welcome if space permits.

And Preview Properties is a major drop off center for the Cell Phones for Soldiers program, too, so bring along any old cell phones you may have to help the members of our Armed Forces.

LED Faucet Sets With Temperature Control

LED faucet sets with temperature control?  Hmm.  Perhaps for the geekiest of people, these faucet sets and shower heads are battery operated and react to the temperature of the water to go from blue to yellow/green to red.  The kitchen faucet set works with a couple of watch batteries and is simply an adepter that connects to your existing spout.  Bathroom faucet sets and shower heads need AA batteries.

I haven’t been able to track down the manufacturer, but they are probably made in China.  No word of how long the batteries last.  Most likely these are pure ‘conversation pieces’ and novelty items right now, but we said the same thing about electric hand dryers and motion sensing faucets once upon a time, too. 

 

Here's a couple of links for the various fixtures.  

http://goo.gl/uSRz5

http://goo.gl/3DVZG

Know anybody that has one?  Are you going to try them?  In either case, I’d appreciate it if you drop me a line and let me know what you think about LED faucet sets with temperature control. 

Image courtesy of prettydarncool.co.za

Mortgage Debt Forgiveness Act Extended Through 2013

This is really good news!  Congress has extended the Mortgage Debt Forgiveness Act as part of the fiscal cliff deal.  What does it mean to you?

Well, really, nothing unless you’re going to sell your home as a short sale this year. Or, perhaps if you have a neighbor that needs to do a short sale.  What the Act did was to prevent the homeowner from being taxed on the forgiven debt that was part of the short sale.  Prior to the Act going into force in 2007, if you were forgiven $20,000 worth of debt on the sale of your home, the IRS treated it as income and you had to pay taxes on that amount.  Tough to do when you could prove a hardship and couldn’t make your mortgage payment to begin with!

It was anticipated that without the extension of the Act there would be no incentive for consumers to go through the stressful and rigorous short sale process and it would likely result in more ‘walk aways’, i.e., strategic defaults.  Not good for the homeowner, not good for the neighborhood. It’s always better to have homes occupied rather than sitting vacant.

As an aside, did you know that ‘fiscal cliff’ was one of Lake Superior State University’s entries on its annual ‘Banished Words’ list this year?  It sits alongside other terms like “kick the can down the road,” “boneless wings,” and “bucket list.”  See the list here.

And while you’re reading the list, feel good that the Mortgage Debt Forgiveness Act was extended – even if ‘fiscal cliff’ has been banished.

Lakefront Homes For Sale Near Hartland Michigan

There are 15 lakefront homes for sale in the Hartland Michigan school district.  All but one is in the $110,000 to $399,900 range. The exception is a $990,000 home on a private lake and 80 acres.

The price range per square foot is $63 to $193.  Only one is a short sale property and none of these are foreclosure homes. They have been on the market for an average of 239 days and all have been for sale for at least 2 weeks or longer. Six of these homes are priced at under $200,000.

The lakes on which these homes can be found are Handy Lake, Maxfield Lake, Long Lake, Lake Tyrone, Lake Shannon, Bullard Lake, and Wallace Lake.

If you’re looking for lakefront homes for sale in the Hartland Michigan area give me a call!

image courtesy of Evegni Dinev/freedigitalphotos.net

Expiring Mortgage Debt Forgiveness Act To Increase Strategic Defaults?

Last December I blogged about strategic default.  That is, consumers who walk away from their mortgage even though they have the ability to continue making their payments. It results in foreclosure, of course.

If the Mortgage Debt Act is allowed to expire by a deadlocked Congress, will this encourage more struggling homeowners to walk away instead of trying to sell their homes by short sale?  Currently, homeowners don’t have to pay tax on the forgiven debt.  If the Act expires, the forgiven debt will be treated as income (a ‘gift’) and will be taxable.

In September (2012) Housing Wire reported that 1 million Home Affordable Modification Program (HAMP) loan modifications were cancelled by lenders after their 3 month trial. HAMP terms are likely the most appealing to homeowners having financial difficulties – if they qualify. The government predicted this program would help 3 to 4 million homeowners, but as of September 2012, only about 825 thousand made it past the three month trial period. Less than $3 billion of the over $29 billion set aside for this program was actually spent.

Home Affordable Refinance Program (HARP) and lender-based refinances are also options, but they also have requirements that may be tough to meet or the savings may be minimal. That’s why short sales remained attractive to many underwater homeowners.

Like all things financial right now, these are complicated and interwoven subjects, but it seems possible that the expiration of the Mortgage Debt Forgiveness Act will have the effect of causing more strategic defaults and therefore foreclosures.  Write your legislators and tell them to extend the Act today.

Confused about short sales, or need to explore the options for the sale of your home? Give me a call for a no-pressure appointment.

Holiday Home Maintenance Tip – Garbage Disposals

The average life expectancy of a garbage disposal is approximately 10-12 years.  I’m guessing that most of us have never read the ‘owner’s manual’ for our disposal since it’s already installed when we buy the house. These units typically get a work out over the holiday season and that’s absolutely a horrible time for them to fail.

I’m providing a link to a short (97 second) video, courtesy of American Home Shield, the folks that sell Home Warranties.  This one is about maintaining your garbage disposal and is worth watching.

If interested, you can find the model of your unit on the disposal tag and search online to find the complete manual.  But if you don’t want to do that, here are a few tips to keep it running smoothly. 

DO NOT:

·         Put fats, greases and oils down the disposal or try to grind potato peels and coffee grounds  – you’re almost sure to clog your drains

·         Put large amounts in the disposal at one time – that can clog things up and overwork the motor

·         Grind large bones (beef, pork)

·         Use harsh chemicals like bleach and drain cleaners – they’re corrosive and can damage blades

YOU SHOULD:

·         Run the disposal regularly to keep parts moving and prevent corrosion

·         Cut big items into smaller pieces

·         Use cold water, not hot, when grinding food

·         Occasionally grind citrus peels to keep the sink smelling fresh (avoid using chemical ‘sweeteners’)

There is a range of opinions on using a disposal with a septic system.  These tend to be strictly ‘yes’ or ‘no’, but as long as the items are biodegradable,  don’t have fats, oils, or greases in them, you may be alright – as long as you’re not grinding a lot of material on a regular basis.  A good alternative is to compost most of your food waste and keep the disposal volume low when you’re on a septic system.   

In any case, you should expect that you will need to pump your tank more often if you’re using a garbage disposal even on an infrequent basis.  My County Health Department (Livingston County, Michigan) recommends that you DO NOT use a garage disposal with a septic system. Here’s their guide on using septic systems.

I’m also providing a link to a short article on disposal maintenance and lifespan from the good folks at ehow.com.  If you read these few short items, you’ll have a great idea of how to keep your disposal running well and extending its useful life.

 

And if you're looking for a home - with or without a disposal - give me a call!

Strangers In My House?

It's something that many homeowners think about when they list their home.  We're all uncomfortable with total strangers coming into our personal space.  In most cases there are no issues, but a few simple precautions will help to ensure that things proceed smoothly.

First, nobody will enter your house for a showing unless they are accompanied by a licensed agent.  There are very few agents that will just take a phone call, drop what they are doing and meet a new prospective 'buyer' at a house.  I want to talk with them to find out their goals, verify that they have a legitimate lender pre-approval (which entails them divulging a lot of personal info), and meet them in person at my office first. I also like to talk to their lender to be sure we're on the same page. In short, I want to know who they are and that they are real people, not an AKA (also known as).

There are still times when some agents take short cuts and don't get to know a buyer as well as they should.  Here are a few simple tips that apply to any home seller and will help you to keep your home safe.

Jewelry - don't keep grandma's expensive antique broach out in plain sight.  Keep your jewelry hidden.  If you can, store it in a safe deposit box until the house is sold or just keep the items you need for the immediate future.  The same applies for cash - keep it very well hidden.

Prescription Drugs - I encourage you to keep your preescriptions out of sight. This may mean changing your daily habits for a while, but the old maxim 'out of sight, out of mind' does come into play. If you have children livng at home, you may already have this area covered.

Personal documents - be sure that you don't leave a bunch of monthly bills or personal douments out in plain view to deter identity theft.  File your documents promptly, or shred paper bills if you pay and file things electronically.

Keys - don't keep a lot of extra keys on the coat rack peg or table in the foyer.  I know we occasionally leave a shed or pole barn key for prospective buyers to enter an outbuilding, but make sure that your house keys are secure.

Doors and windows - it's rare for buyers to open and close windows, but it may happen.  A good showing agent will always make sure that all doors locked when they leave your home, but on occasion they may get distracted.  Boisterous or very active children accompanying their parents, an aggressive time frame to show multiple properties (especially in the winter months when daylight time is reduced) or a host of other factors may come in to play.  Be sure that you check your doors upon return.

Agents will not allow a prospective buyer to open dresser drawers, but you can expect a look at the closets and pantry. Sometimes kitchen cabinets are opened to see what type of storage systems are installed.  Expect them also to look through the garage and enter any mechanical or store rooms you may have in the basement.

These few simple precautions will help you keep your home selling experience a safe and happy one.  If you're thinking about selling your home, consider calling me for a no-pressure appointment to determine its value and estimated time to sell. I'm a full-time real estate professional. Real estate is my passion.

image courtesy of vichi81 freedigitalphotos.net

What’s Your Home’s ‘Sell By’ Date?

Sell Your Home

My wife and I sometimes have a discussion about dates on food items.  There’s a ‘sell by’ date, sometimes a ‘use by’ date, even a ‘best if used by’ date, depending on the product.  She wants to dump them on that date, I tend to keep using them for a couple of days beyond.

Sometimes it’s aesthetic, sometimes it’s for safety.  The ‘Sell By’ date is largely for stores. It helps them to pull slow moving items that may have reached their peak for freshness, consistency and taste.  But often, you can still consume those products beyond that date. Note: I wouldn’t recommend trying that with the milk two weeks later, though. My wife and I agree on that one!

Successfully selling your home can have many nuances, too.  Price and condition are two biggies.  Upgrades and features (or amenities) are some others.  Add to these factors more subtle influences like color schemes, quality of that new carpeting, floor plan and traffic flow, and professional staging.  All can play a role in the sale of your house. Small things like dishes in the sink or laundry hampers overflowing can also detract from an otherwise acceptable home.

Regardless of the issues above, if you price your home more than a few percent over the market value, it will likely not sell. Or it will take longer to sell and will sell for less.  So when I go on listing appointments, I like to ask, “What’s your sell by date?”  Most people have an ideal time to be in their next home. It may be for work purposes, to be reunited with family members by an important date, or even related to a seasonal change.

It’s ironic that sometimes when you price a little bit low it’ll sell for more.  How can that be?  Because buyers are very attuned to the real market value for what they seek.  They’ve been looking at listings, viewing homes, and doing their homework.  They can make the mental adjustments for a location liability (backs up to rail road tracks or highway), school system (good but not the best rating), and distance to the interstate and shopping.  And they can do it quickly.

When an underpriced home (even slightly underpriced) hits the market, buyers will jump on it. Multiple offers are not uncommon.  And while it’s rare to get more than 5-6% above listing price, I’ve had a couple of sales this year that were in the double digit over list price range. If you want to move sooner rather than later, you should be more aggressive with your pricing – and that DOES NOT mean you’re giving your house away.

Sellers in no particular hurry often make a bigger mistake by “trying it out at a higher price,” thinking they can reduce the list price later. By then, buyers are thinking there’s an issue with the house and will not perceive it the same as when it’s new to the market.  Consult your real estate professional to arrive at the correct pricing to get your sale completed by your “sell by” date.  And if you need help with determining that value, I’m happy to assist.

image courtesy of Stuart Miles, freedigitalphotos.net

Buy A New Or Existing Home?

Build or Buy Existing?

That question doesn’t just apply to buying a car.  Part of the American Dream, for some people at least, is to own a new home. New, as in just built.  Certainly there are benefits and disadvantages to either – a new or existing (used) home.  Let’s look at a few of them.

Existing homes.  Depending on the age and location, it could have been built with better materials, exhibit more true craftsmanship, and perhaps have architectural ‘character’ and features that are all but impossible to replicate today. And don't forget about mature trees and landscaping.

Down sides might include a lower energy efficiency level, the possibility of needing extensive updates and difficulty finding similar building materials when you do modifications or repairs. The task of modernizing a very old home to today’s standards while retaining its original charm can require a lot of planning and effort. In most cases it is a labor of love.

New Homes.  Certainly a big plus is the ability to make some decisions about options, color schemes and perhaps even features (within certain builder parameters). Hazardous materials like lead-based paint will be moot, and you’ll likely have a robust electrical system for today’s living. Two and three car attached garages and plenty of bathrooms will not be uncommon, either. Many young families like living with similar aged households because both they and their children will develop friendships nearby.

Negatives will include the cost of landscaping, living with construction noise, traffic and debris until the neighborhood is built out, and if you’re an early buyer you will find it difficult to compete against the developer if he’s still selling ‘new builds’ when you decide to move.

There is no global best choice.  It will really depend upon your motivations, goals and desires.  While this is not a comprehensive listing of the benefits and disadvantages of either type of home, I hope it gives you something to think about.  Construction is starting to perk up in the area. 

New South Lyon homes are being built with greater frequency, as are homes in the Brighton and Howell areas. If I can assist you with your home search, feel free to contact me!

image courtesy of phanlop88, freedigitalphotos.net

Long Term Care Patients Can Keep Their Principal Residence Exemption

courtesy koratmember
freedigitalphotos.net 

Michigan’s Public Act 324 of 2012, which became law October 9, 2012 allows for retaining the Principal Residence Exemption (PRE) while in a long term-care facility if they meet certain conditions.  There have been instances where a homeowner lost the PRE and had to pay higher property tax rates because they were in rehab or couldn’t live alone for an extended time.

This bill allows them to keep the lower property tax rate if their intention is to return, as long as they meet all of these criteria:

They must continue to own the property; they may not have established a new primary residence; they provided for the maintenance of the property while in a nursing home or assisted care facility; and the property was not occupied, or leased, and wasn’t used for any business or commercial reasons.

This bill was introduced by Senators Caswell, Nofs, Hildenbrand, Robertson, Jones, Rocca, Hansen, Marleau, Colbeck, Bieda and Kowall.

Text of the full bill can be read here.

If you're thinking about selling a home or land in Michigan, give me a call.  I'm a full-time real estate professional with 15 years experience.

First Time Buyers Drop But Still Significant



Courtesy of NAR

The National Association of Realtors® (NAR) has an Economists’ Outlook Blog.  Yesterday, it posted an article that claims 32% of all September sales were by first time buyers.  For some time, that figure has trended closer to 40%, and was at a 50% level in 2009.

The number of cash sales in this buyer group was up, too, from 8.7% in August to 11.4% in September.

First time buyers have it tough.  Mortgage financing is harder to obtain, government loan (FHA and USDA Rural Development Program) underwriting is more tedious, distressed home sales take longer to complete, and investors have often picked over the lower priced listings already. That being said, they are still a significant part of the buyer pool.

This information comes from the monthly NAR Realtors® Confidence Index survey for September 2012.

If you're looking for a home in Brighton, Howell, Livingston County or the surrounding areas of West Oakland and Washtenaw County, call me.

Spillover Costs of Foreclosure

A report released early this week spells out the wider impact of foreclosures. Researchers at the Center for Responsible Lending (CRL) note that almost $2 trillion in property value has or will be lost by residents. It doesn’t even include equity losses due to foreclosures, which have been estimated at $7 trillion.


Foreclosures have brought down property values across the country. Your home has been affected even if there are no foreclosures in your neighborhood (which would be pretty rare, I think). That value reduction means that while you’re paying lower property taxes, your municipality and school system is getting less money, too. If there are many foreclosures in a given area, there can also be blight and crime issues that come into play.

We all know intuitively that foreclosed homes are not a good thing for neighborhoods. Unfortunately, there are still a lot of them sitting out there, many that haven’t even been listed.

Subscribe to my e-newsletter or follow my blog for new listings and topical real estate posts.

Helpful Technology – Batch Picture Resizing

Every now and then you come across a program that makes life so much easier that you wondered how you lived without it. Maybe it’s a widget or gadget for your desktop or your Smartphone. Perhaps it’s an app on your Nook or Kindle. Maybe it’s a full blown suite of products for specific needs.



from www.softorbits.com

One that I couldn’t easily live without is the Batch Picture Resizer by SoftOrbits. In Real Estate, we take a lot of pictures. My high-res photos are great for printed materials, but cumbersome or even unusable for upload to the multilist system (MLS), clients and web sites. I was using a very basic re-sizing function that was part of my operating system until I discovered Batch Picture Resizer.

I can now select, drag and resize an entire folder of pictures in one action. Since my source photos are 3008 x 2000 pixels (usually around 2MB in size each), the time needed to individually resize photos was awkward and frustrating.

I downloaded the free trial not expecting a whole lot, to be honest. We’ve all had that experience – download, try, uninstall, delete, keep looking. But this program was different. I can resize by pixels or percentage of the original. While not overwhelming in terms of functions, it allows for renaming files by adding either prefixes or suffixes to the original file, or adding a watermark. It has ample folder handling functions to keep your pictures organized, and will do rotations easily, too. At an affordable $29.95, it was a no-brainer for me to purchase this program.

If you deal with a lot of photos on a regular basis, you should consider evaluating this program on a free trial basis. I think you’ll be happy with it.  Do you have a particular program that you can't live without? I'd love to hear about it.

Great House, Acreage - Howell Schools

Introducing 3098 Coon Lake Rd, Howell MI 48843.

This newer home (Built in 2003) has a full basement, HE water heater, water softener, 200 amp electrical service and a 3 car garage.  It is a modular home (built to the same codes as an on-site built home) on 3.06 acres, although there is a natural gas easement that runs through the property.  The lot size is irregular.

It's been repainted, recarpeted, new kitchen appliances installed, gutters have been replaced and the house power washed.  Three bedrooms, 2 full baths, 1792 sq ft of living space in a private setting, yet just minutes from the I-96 ramps at Pinkney Rd (D 19). Howell Schools. 

See the entire listing on my website by clicking here.  And while you're there, check out my new map-based MLS search functon, too!

I am a full-time real estate professional at Preview Properties, PC.  Contact me at 810-220-1478, through my website, or my facebook page at http://www.facebook.com/MichiganRE.

Closed Sales – Financing Types Through September 2012

We’ve all heard some recurring sound bites about this year’s housing market in SE Michigan and especially in Livingston County. Inventory and time on market are down, average and median sales prices are up, and the total number of sales is up.


While I am a very active listing agent, I also work with buyers. And I know from my experience as well as discussions with other agents that it’s difficult to find a financeable house in the $125,000 and under price range. If you do find a house that’s ‘ready to go’ you can be sure there will be multiple offers. If it needs some work, it likely won’t qualify for government loan programs – FHA and USDA Rural Development. And of course, these are the programs that many people need to enter the housing market.

Instead of repeating this past month’s stats, I delved into the difference between the kinds of loan instrument used for January through September 2011 vs. the same period in 2012. Here’s what I found.

Cash sales went up only nominally YTD. They represented a little over 23% of total sales in 2011 and are a little over 24% in 2012. Since cash purchasers come largely from investor-owners, is this showing us that investor action is leveling off? Hard to say, but certainly the lower inventory likely has a role to play in this market segment.

Conventional mortgage sales went up from 34.4% YTD in 2011 to 37.45% YTD in 2012. With mortgage rates at an almost ridiculous historic low  I would have expected more of this type of sale, but first-time buyers usually don’t qualify for a conventional mortgage, so they likely have little representation in this segment.

All FHA loan sales (includes the FHA 203K renovation program) dropped from 24.61% in 2011 to 21.5% this year. And the USDA Rural Development program loan sales went up slightly from 7.5% of all sales in 2011 to 8.58% in 2012. When you combine the FHA and USDA RD programs, my stats show that they were a combined 32.12% of sales in 2011 and represent a lower 30.1% usage in 2012. So at least in this market, closings with government loans are down on a percentage basis.

My personal experience with FHA and Rural Development buyers has been that the properties appraise at a value of or above their sale price, but the underwriters for government loans are being very, very picky, in some cases bordering on the insane. I know that there are a lot of buyers out there that are pre-qualified for these programs, but finding a home that is in financeable condition is tough. And banks have been slow to correct the deficiencies needed for the financing of foreclosure properties, even if it’s only a few thousand dollars in repairs.

If you’re considering a home sale or purchase, please call me for a confidential meeting to discuss your goals. I’d love to help you with your real estate needs. Let me put my market knowledge to work for you.

7323 Norcrest, Brighton - $121,900



7323 Norcrest 48116

 This home comes with privileges to all sports Ore Lake.  2234 sq ft, 4 beds, 3 full baths and a one car detached garage.  It is a bank-owned home, but has just been renovated. 

Work includes a new roof and gutters, replacement siding, new kitchen appliances, new vinyl flooring, carpet and a complete repaint - inside and out. Located in the Ore Lake Shores subdivision, your access to the lake is via a community lot. 

Brighton schools, close to M-36, this home is priced at an affordable $54/sq ft! It is not inside a flood zone according to the latest FEMA flood hazard maps.

For information on this, and other homes in the area, please contact me through my web site, http://www.realestatemich.com/10/listing/22680. 

Real Estate As A Contact Sport

(Or How I lost A Perfectly Good Pair of Dockers While Doing Property Checks)

Every new day is exciting and filled with untold potential. I don’t think it matters whether you’re a CEO, a mechanic, an entrepreneur or a, well, Real Estate agent. Today I had meetings in the morning, touched bases with consumers and agents on some deals in process, and was preparing for an afternoon appointment to have a seller sign a purchase agreement. Not an unusal day by any means.



Could Have Been Worse

 A new property assignment altered the flow a bit, but between the morning and afternoon commitments I had to get some weekly property inspections done. I know the neighbors for my distressed properties, so I wasn’t particularly on edge to see the usual German Shorthair running around at one of my listings. He’s older, still has a lot of energy and has always been on the friendly side. I didn’t think twice about walking around my listing to take pictures and do my normal visual check on its condition.

Apparently the dog felt otherwise. I heard the jingling collar and turned to see him charging me, but not growling or showing teeth. I thought he wanted to play. Before I could reach down to pet him, he’d grabbed my slacks at the pocket and ripped about a 14” swath down the seam. I yelled and he turned around to go back to ‘his’ yard. Luckily he got all fabric and didn’t break the skin, but it wasn’t pretty when I walked directly away from ‘his’ territory and found that he was again running towards me.

A couple more loud verbal commands turned him around, but he kept coming back. After the third try, he returned to his yard and left me alone. Needless to say I got to my car and drove away. Actually, I drove home to find more suitable business attire since I was now pretty well ‘air conditioned’. I may have gotten a few compliments on my selection of boxer shorts (or maybe not), but prudence won out and I made myself presentable again.

There are likely many lessons to be learned here, which brings me back to, “every new day is exciting and filled with untold potential.” The exciting part is pretty obvious. The untold potential is that I was made aware that I needed a wake up call on my personal safety habits. I learned the hard way that I can’t ‘trust’ dogs to always behave the same way – especially dogs with whom I have very limited contact. I will also add a pepper spray to my ‘traveling real estate’ kit. Of course, the pepper spray will clip onto my belt or stay in my hand as I get out of my vehicle and am sure there’s no obvious danger. And yes, I will catch that neighbor to let him know his dog tried to bite me.

It’s a good thing to remember that threats to your safety come from a variety of causes, and sometimes we let ourselves become inured to situations that may look the same, but are not. Stay alert. And carry an extra pair of slacks.

12 Acres, Barns and Move-In Condition - Marion Twp (Howell mailing)

Here's an interesting property.  12+ acres, an older horse/hay barn with a few horse stalls, fenced pasture and a newer pole barn with high doors.  The house has had numerous repairs, fresh carpet and paint for a move-in condition treatment.  Lot is irregular dimensions and the house is heated by electric baseboard units.  The walkout lower level is partially finished with rough plumbing done for a second kitchen and additional bath.  It would make great in-law quarters or a wonderful space for a rec room and family room, complete with either a kitchenette or a wet bar.

Priced at $167,900, it's located in Marion Township.  See the full listing here.  Owner occupants may submit offers on July 31st, investors can submit offers on August 5th.

New Listing - Move In Condition at $53/sq ft!

Holy cow! The bank just put over $40,000 into this foreclosed house in Howell and it is beautiful.  Five legal bedrooms (3 up, 2 down), three full baths, some new windows/doors/siding, all new paint and carpet, lots of improvements. This is a stick built house, not a modular. 

At 1880 sq ft, this raised ranch is ready for its new family.  2 car attached garage, large deck, large rear yard -and close to Lake Chemung (no deeded privileges). 

Check out the full spec sheet for 5819 Cherokee Bend, Howell MI 48843.  Only $99,900 - that's $53/sq ft, what a great value!

And if you're considering the sale or purchase of a home, this year my average time to get a listing under contract is 44 days and my average sales price is almost 5% over list price.  Short sales expertise, too.

Subscribe to my real estate newsletter to stay current on market news.  Try my new MLS search to zero in on what you want in a given area.

Shop Local–More Benefits Than Thought

We all know at some intuitive level that supporting your local merchants is good.  Yes, sometimes you pay a little bit more than the big box stores, but often they have unique items or services that balance out the little bit of extra expense. Or perhaps it’s just the convenience.

I don’t know about you, but I absolutely hate having to walk to the very rear of a large grocery store when all I want is a gallon of milk.  Not to mention the wait in line to pay.

Now a study shows that shopping local is not just good for the merchant, it’s also good for you!

A thriving business district actually helps to raise the values of the homes in that area!  The study conducted by American Express OPEN indicates that home values in neighborhoods close to such active business districts with primarily independent (non-chain) ownership resulted in an above average rate of appreciation when compared to the rest of their larger market areas.

Independent retailers and restaurants have still lost ground since the 1990’s, but they remain a force as residents look to shop local.  We know franchises employ a lot of local folks and some do better than others when it comes to getting behind a community project, but in general they don’t do nearly as much as the often smaller independent businesses that have fewer resources.

So let’s shop local!

del.icio.us Tags: downtown brighton michigan,shop local,support local business,real estate values,home values

Outdoor Projects Create More Living Space

It's time to enjoy the great summer weather in Michigan! And some of us come up with ideas to make our homes even more enjoyable.   Here's a couple of articles that may be of interest for your patio or deck space.

• 

  Smart Options: Patio Pavers

  A broad selection of patio pavers accompanies increased demand for outdoor living spaces. Read
• 

  Smart Upgrades for Decks

  A few cost-effective add-ons can give a modest deck an edge and deliver a handsome payback should you sell your house. Read

Visit houselogic.com for more articles like this.

Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

Home, Neighborhood, Location – This One Has It All

509 Cloverview Ct., Howell 48843 - MLS# 212053920

Located in the Lakewood Knoll sub just off Latson Rd., this 1996-built 2-story home has 4 bedrooms, 2 full and 1 half baths, 2200 sq ft of living space, refinished hardwood flooring, new stainless steel appliances, 5 new replacement windows, a new water heater, a new garage service door to the back yard, and a basement that is framed, rough plumbed and wired. All for $179,900.

Located between Grand River and Golf Club Rd., you’re close to the new retail shopping district at Latson and Grand River, including Meijers, WalMart, a variety of restaurants and other shops as well as I-96 Exit 141. Like to golf? This home is a short drive to either Chemung Hills or Faulkwood Shores, and the Tom Deaton pro shop and driving range is nearby, too. It’s in the Howell School District but the location is Genoa Township for lower property taxes. This sub has sanitary sewers and municipal water, so you don’t need to worry about well and septic.

In addition to the other improvements mentioned, it has been freshly painted and carpeted and is truly a ‘move-in’ condition house, just waiting to become somebody’s home. Wells Fargo pre-approval is required to place an offer. Call me if you need more details. I know it’s a trite real estate saying, but in this case I do believe that this home is going to sell very fast.

We have lower inventory now that a year ago, so buyers need to work with an active and knowledgeable agent. If you know somebody that needs real estate services (buying or selling), please consider sending them to me. My main market area is Livingston County, western Wayne and Oakland Counties and northern Washtenaw County.

del.icio.us Tags: del.icio.us Tags: howell home for sale,foreclosure for sale,howell schools,genoa twp home for sale

Livingston Realtors Excel at Food Drive

The Livingston County Association of Realtors (LCAR) have conducted their 10th annual food drive for Gleaners Community Food Bank (GCFB).  Titled, “Fill The Gazebo”, it started at the Brighton Millpond Gazebo but has since expanded to a Howell location at the Historic County Courthouse, as well as some grocery store locations, some as far away as Fowlerville.

This year, over 3 tons of food and more than $11,000 were collected due to the generosity of the community.  Since its beginning, ‘Fill The Gazebo’ has collected more than 61 tons of food and over $72,000. 

Hunger is a growing problem in Livingston County. If you’ve ever dropped off food at the GCFB pantry, you know that they are serving a lot of people.  The Livingston food pantry does not collect enough food to serve our own County, and food actually has to be brought in from other Counties to meet the need.

The next time you see a great deal on non-perishables or staples at your grocery store, consider picking up some extra items to drop off at the pantry.  Or better yet, make a monetary donation.  With their extra buying power, Gleaners can actually stretch a dollar much further than you or I.  The Livingston pantry is at 5924 Sterling Drive, Howell 48843 – just off Dorr Rd and south of Grand River.

Livingston County Real Estate Market

The good news is that I've been so busy that I've let my blogging fall off.  The bad news is that I've let my blogging fall off. 

Generally speaking, the housing market is finally looking up!  I know you've been reading that the number of sales is down - and that's true.  But they're down because we have such a shallow inventory.  Almost every home that I've listed in the last 9 months or so has gone under contract within 15-25 days, had multiple offers and sold for above list price.  Short sales aren't included as they take longer and have special problems for many potential buyers.

The days on market (DOM), is flat compared to last year, but average sales prices are up almost 9% for single family homes and a whopping 46% for condos. Vacant land sales have jumped, and there's a lot of new builds happening in the South Lyon area. All the while we're at extreme lows for mortgage interest rates, too.

Things are also happening with commercial properties.  Downtown Brighton is bursting at the seams.  Good luck finding a space there!  Downtown Howell has some interesting things going on, too, and there's no doubt that the Opera House project has helped a lot.  Watch for a full-fledged comeback there, soon. There are plenty of commercial spaces on major business routes in the surrounding townships, though, some in very high traffic areas.

I'm working with numerous buyers that can't find a house they want. Many of our showings get cancelled because the house goes under contract before we can get into it.  Still, it's an exciting time to be in Real Estate. 

If you have specific questions, please drop me an email or give me a call.  And I'm really looking for listings.  If you know somebody that is considering selling their home, please ask them to give me a call.

New listing – 307 Chilson, Howell 48843 (Genoa Township, MI)

Great bungalow, great value!


This 2 bed 1 bath bungalow features 2 bedrooms on the main level. The dormer could be used as a (non-conforming) 3rd bedroom area, or it would be great for storage. A 1 acre lot, home sits back from the road and features a one car attached garage (no opener, but electricity). Foundation is a crawl, and this 1953-built home has some hardwood flooring, fresh paint/carpet/minor repairs and a new range and vent hood.

It is in move-in condition and affordably priced at $79,900. Disabled accessible with newer wheelchair ramp.

Brighton Farmers’ Market Opening May 5th!

Yep, it’s that time of year. Crops, baked goods, jewelry, craft items, bedding plants - just a few of the things you’ll find at the Brighton Farmers’ Market. It’s located in Downtown Brighton, in the Municipal lot off First Street, adjacent to the City Offices and the Imagination Station playground.


While it’s still early for a wide selection of crop goods, there’s always something interesting at the market, and you can always browse the downtown merchants and grab a bite to eat at one of the many restaurants. There’s something for all price ranges and cuisines, so come on down. Kids will enjoy the Imagination Station playground, stroll the millpond tridge and boardwalk and then I recommend that you finish up with a stop at Main Street Cheese Market and Great Harvest Bread, then Jack’s Custard before leaving for home.

There’s plenty to see and do in Downtown Brighton, where there doesn’t seem to be any vacancies left in the storefronts.

Principal Residence Exemption Passes Michigan House and Senate

This legislation should be signed by Governor Snyder in the next few days.  It's a victory for home buyers wishing to purchase foreclosed homes, often in lower price ranges and on tight budgets.

It allows banks to claim and maintain the Principal Residence Exemption (PRE) during the listing period.  That means that prospective buyers will be able to get the lower Homesteaded property tax rate.  Why is that important?

Since many buyers of foreclosed homes are younger and on tighter budgets, and because their loans usually require property tax and insurance escrows, having the house homesteaded keeps their tax escrow smaller.  Many such buyers have been knocked out of qualification due to the extra property tax burden on a non-homesteaded, foreclosed upon house.

The bank will have to apply for this exemption, and at least in the beginning they probably won't be aware of it, so agents like myself that list foreclosed homes will need to explain the process to them and get them to understand that this will help market the properties to owner occupants.

The bill also changes the old May 1st homestead application deadline to June 1st, and also adds another date of November 1st each year so buyers that do purchase non-homesteaded properties won't have to wait a full year to get the homestead benefit.

Some of you are probably thinking, "Why should banks be let off the hook! They should pay the higher rate even if a new owner gets the lower rate", I'm betting.  Well, guess what? The're not off the hook.  They will still pay the non-homestead rate as a separate line item on the closing statement. 

The very best thing would have been for 'instant' homestead exemptions for owner-occupant buyers at closing, but procedurally that wasn't possible,so this really is the next best thing.  Municipalities will get the taxes owed and new homeowners will not be penalized for long periods of time. 

Thanks to the Michigan Association of Realtors for their efforts in getting this legislation passed.

UPDATE 5/1/2012 - Gov. Snyder signed this bill today.

Unhealthy (But Rewarding) Choices

Credit and Debit card reward points are a fixture today. You can get cards that give you bonus points for air fare, travel, or general use – to be redeemed out of a catalog. Years ago, I remember my local bank giving 4 points per dollar for the first six months your account was active. It later downgraded to 2 points per dollar, then one point. Now, it’s one point per two dollars spent. Guess we were having ‘too rewarding’ an experience, America.

Scanning my online bank account, I noticed a promo (yes, embedded into my online account statement!) for 40 points per dollar (!) when I dine at Burger King®. Wow. Over 200 reward points for a fast food combo meal – quite a deal. That would be equal to me having to spend $400 elsewhere.

It struck me that I had just read an online article about particularly unhealthy food choices and that there was a Burger King® entry on that list. So I double checked and yes, bringing up the bottom at number 11 was the Whopper with cheese. 760 calories, 47 grams of fat and over 1400 mg of sodium. Yum. Make it a combo to get a 1500 calorie meal. That’s about two-thirds of the recommended daily caloric intake, by the way. And they were at the bottom of the list.

Now, I’m not singling out Burger King®. To the contrary, there are a lot of unhealthy choices that we make every day. And it’s not just a single franchise or food type. What did strike me is that we could get such a crazy ‘reward’ for such a generally unhealthy choice. Buy combo meals for the family of four and get a bonus 800 points! I guess if it’s a special treat, that’s one thing, but somehow I think most people eat a whole lot more fast food than I do. Good marketing? Perhaps.

Or maybe we’ll be able to use our rewards at the local hospital to defray the cost of our next cardiac stent procedure.

This is one of an occasional non-Real Estate post. Because sometimes you just have to write about other things.

831 Meadowlark Ln Now Listed - $79,000

If you've been following my blog, you know this home has been close to listing. Well, it came through at an affordable $79,000.  This house is in move in condition, with fresh paint and carpet, and new kitchen appliances. Located in the City of Howell, it's in a neighborhood with public sidewalks and city water and sanitary sewer.  It has a great fenced backyard and a large deck with its own privacy fence.  You can see the entire listing on my websit at:  http://www.realestatemich.com/10/listing/22031

New Howell Listings Coming Soon

Both of these homes have just completed renovation work. They are in 'move-in' condition. I expect them to be listed sometime this week at an affordable price for first time buyers, and there will be no offers considered for the first 7 days, then offers from owner occupants only till day 13.  Contact me for more information. Wells Fargo pre-approvals will be needed for ofers on both of these homes.  NO REAL ESTATE SIGN PLACED UNTIL LISTED.

307 Chilson Rd, 48843

MLS# not yet issued
Listing Price: $ not yet determined
Bedrooms: 3
Baths: 1 full
Sq.ft: 1044

Amenities: Disabled access ramp, 1 car garage, new range.

Description: 1953 built, great location near to Grand River. Close to newer retail district at Latson and Grand River and Downtown Howell just minutes away. 1 acre lot, deck. Interior remodeled, 3rd bedroom upstairs.

831 Meadowlark Ln, 48843

MLS# not yet issued
Listing Price: to be determined
Bedrooms:# 3
Baths:#1 Full, 1 Half
Sq.ft:# 1598
Acres: 0.18

Description: Fowler Heights Sub in the City of Howell, municipal services, fenced yard, great deck w/privacy fence. Cement floor basement with four feet clearance is suitable for plenty of storage. Fresh paint, carpet, minor repairs and new appliances. First floor laundry.

Feel free to pass this along to anybody you know that may be interested.

New Listing-7637 Athlone, Brighton 48116

This home is located in the Tara Glen subdivision of Hamburg Township, just south of Winans Lake Rd and east off Hamburg Rd.  It's a contemporary 1 story home featuring three bedrooms and two full baths, built in 1980, with 1776 sq ft up and about 400 ft of the 1280 sq ft basement finished.  Wrap around decking, plenty of windows and a walkout basement.

It's been re-carpeted, repainted, three custom trapezoid-shaped windows and both garage door openers have been replaced as well as new appliances installed-including a cooktop, over/under microwave/oven, refrigerator and dishwasher. There's a dramatic stone fireplace in the living room.  Brighton zip code with Pinckney schools, the home is a short distance from US-23 and reasonably close to retail centers along M-36 or in nearby Brighton.

While the kitchen cabinets/counters and baths could use freshening for modern styles, it is very clean and in move-in condition.This home is priced affordably at $139,900 or $78/sq ft. It is a foreclosed home. See the complete listing at http://www.realestatemich.com/10/listing/21976