Brighton Optimist Club - Free Fishing Derby For Kids - June 7th

This Saturday, June 7th, the Brighton Optimist Club will be holding its 22nd annual Free Fishing Derby For Kids at the Brighton Millpond.

Free to kids under 16, there will be awards in various categories across three age groups, free bait, a Lil' Anglers event for children 4 years of age and younger, and a casting contest. A large display tank will show some of the better catches that day.

Bring your rod and reel and a bucket for the fish. There will be three weighing/counting stations available, and all fish are to be released after being recorded. There are some loaner rigs available and free bait, while supplies lasts. The first 400 kids registered will also get a tee shirt.

Registration starts at 7:30 am and the Derby runs 8-11 am. Souvenier picture fishing licenses are also available, but pictures must be taken prior to 10:30 am. Pizza will be served to the kids at 11. While results are being tallied, a local Jump Rope Team, the Jumpin' Allstars, will entertain the crowd. This event it totally FREE!

The Brighton Optimist Club is celebrating its 30th anniversary of "Bringing Out The Best In Kids" this year. This is the longest continually running fishing derby in the State of Michigan. Feel free to contact me with any questions about either the Fishing Derby or the Brighton Optimist Club.

Activity Report - First Time Buyers Driving The Market

Single Family Home sales in Livingston County for the period of January 1st through May 31st have increased by 6% over the same period last year. The average sales price is down 12.9%, but at the end of April that figure was at 13.7%, so it appears that we're moving in the right direction.

Almost half of the sales (46%) are being attributed to first-time buyers. First-time buyers are defined by the U.S. Department of Housing and Urban Development (HUD) as:

• an individual (or spouse) with no ownership in a principal residence for the 3 years prior to the purchase of this home
• a single parent who has only owned a home with a former spouse while married
• a displaced homemaker who has only owned a home with a spouse
• an individual who has only owned a prinicipal residence not permanently affixed to a permanent foundation
• an individual who has only owned a property that was not in compliance with State, local or model building codes, and if that home cannot be brought into compliance with building codes for less than the cost of constructing a permanent structure

Condominiums continue to be a very good buy, too, although many first time buyers decline this type of home ownership because many lack basements for storage, they're intimidated by community regulations, and they don't want to pay the maintenance fees.

A future article will discuss the benefits and shortcomings of condominium ownership. If you have questions in the meantime, you're welcome to contact me directly. My blogging time has suffered due to a high increase in listing and selling activity, my community service commitments, and trying to keep a semblance of family time. You are always welcome to contact me via phone or email (available at my primary web site, http://www.RealEstateMich.com).

Buyer Activity - On The Rise?

It's not just me.  Talking with agents from other firms and to agents within my company, there seems to be a real spike in buyer activity.

I am getting regular calls on my listings and frequent email inquiries from my various web sites and blogs.  Most of the activity is coming from two groups - first time buyers who are generally in the $175,000 and below range, and move-up buyers looking higher. There are a lot of great values in the $225,000 to $300,000 range.  Larger, newer homes with a lot of space and upgraded amenities seem to be the ticket. 

This is great for the move-up buyers that have been able to save some money, retire debt, or both. They are in a wonderful position to get bargains right now. 

A recent short sale in which I worked as a buyer agent gained the buyers $40,000 in equity.  This is no joke.  The sale price was $240,0000 and the appraisal came in at $280,000.   A recent foreclosed home that I had listed sold for $210,000 and appraised at $240,000.  Believe me, appraisers and banks are looking critically at comparable properties and have tightened up on the appraised values significantly, but these types of gains are still fairly common in my market areas.

Sellers, I still recommend that you don't put your home on the market unless you absolutely, positively have to sell.  If you do market your home, accept that its value will be less than it was just two years ago. Unless it's priced properly you won't even get people to look at it to see how great it is. 

Buyers, get pre-approved, Not just a pre-approval letter, but have your lender run the credit, put you through desktop underwriting and really see what (or if) you can afford to buy.  If you're looking at foreclosures as a possibility, you may even have to get pre-approved by a representative of that particular bank, although they won't require you to use them for the actual transaction.  They're simply trying to reduce the number of transactions that fail to close.

I regularly work with buyers and sellers, have a good listing inventory mix of traditional (homeowner or retail) and bank-owned properties. I'm experienced at short sales and have undergone loss mitigation training, too.  If you're feeling the pinch and think you might be on the road to losing your home, call me for a short consultation.  There may be other avenues you can take with your lender to keep you in your home.

Blood Drive, May 10, 2008 - Preview Properties, Brighton

On Saturday, May 10th, Preview Properties will be hosting a blood drive for the Livingston County Chapter of the American Red Cross. This is the company's charity activity for May 2008, and we invite you to participate.

Hours will be 10 am - 3pm. You can call the Red Cross office at 517-546-0326 to set an appointment, or just show up during the blood drive hours.

Preview Properties is located at 130 W. Grand River Ave., Brighton, MI 48116, at the corner of St. Paul Street.

The Livingston County Chapter of the American Red Cross web site is http://www.liv-redcross.org/index.html

Brighton Optimist Club Golf Outing - 5/17/08, Whispering Pines Golf Club, Pinckney

The Brighton Optimist Club is a community service organization whose motto is 'Bringing Out The Best In Kids'. Perhaps best known for the Free Fishing Derby for Kids at the Brighton Millpond every June, they do many other notable things.

In their 30 year history, they've given out tens of thousands of dollars in scholarships, conduct an Oratorical Contest to encourage public speaking in youth, recognize area youth through their Youth Appreciation events and Public Safety professionals through Respect For Law days. The Brighton Optimist Club was also the group that started the effort towards what is now the SELCRA Meijer's Skate Park. The group is supporting the only remaining Junior Achievement Program in Livingston County.

As part of their annual fundraising efforts, they are organizing a Golf Outing for May 17, 2008. It will start at 1pm at Whispering Pines Golf Club in Pinckney. They're looking for golfers and sponsors. Please visit their online registration page at http://www.regonline.com/Checkin.asp?EventId=610749 to register for golf or as a sponsor, or click on the 'event details' link on that page for more information. Help the Optimists help our area's youth - and have a great time while doing so.

Register as a golfer or sponsor today! The Brighton Optimist Club Foundation is an IRS-recognized 501 (c)(3) organization.

Gleaner's Food Bank - Fill The Gazebo, May 3, 2008

The Livingston County Association of Realtors has been supporting Gleaner's Food Bank for a number of years by way of its 'Fill The Gazebo' Food Drive.  As the name implies, we want to fill the Brighton Millpond gazebo with food donations.

On May 3, 2008, you can drop off items on Main Street in Downtown Brighton. Realtor volunteers will be standing in the center lane to accept your food and monetary donations.  We'll also be stationed aroudn the County at various grocery stores to accept donations.

In addition to food, the Gleaner's Food Pantry needs household items like laundry detergent, toothpaste and the like.  All food collected stays within Livingston County for families in need.  In fact, we can't support our own County's needs and Gleaner's has to bring additional food into Livingston to help support the demand for its services.

If you see a great sale at your local grocery store, consider buying extra to donate on May 3rd. If you have trouble making it into town that day, most Realtor offices will have drop offs available.  Or feel free to call me at 810-220-1478 and I'll be happy to get your food or monetary donation collected.

April's Community Service Project

Here at Preview Properties, we select a new community service project each month.  For April 2008, our project is 'Cell Phones For Soldiers'. 

Stop in at the office located at 130 W. Grand River, Brighton (corner of E. St. Paul St.) and drop off your old cell phone.  For each one collected, a serviceman or woman on assignment overseas will receive a free 60 minute phone card.  If you can't make it into the office yourself, give me a call at 810-220-1478 and I'll be happy to make arrangements to pick up your old cell phone equipment.

New Home Construction Summary

In a previous post, I reported on an industry survey of new home construction that is conducted monthly by Bank of America.  With their kind permission, here is a summary from the January 2008 report.

New home prices and incentives to buyers continue to increase while time to sell is taking longer. Nationally, part of this is still an over-abundance of inventory, but as many builders are now reducing standing stock and beginning new construction only upon receipt of a signed puprchase agreement, this inventory continues to drop.

New home affordability, attractive mortgage interest rates and the dropping inventory will help this sector over the next 12 months.

The Detroit-area market was the nation's 36th largest for all of 2006. This latest report indicates that traffic at new models is still pretty slow and prices continue to drop, while time on the market increases - pretty much in step with national trends. In this market, the builders with the most exposure are Pulte, Toll Brothers and Centex.

It's a great time to get a bargain on a new home, but shop carefully!  There are many, many great deals available on exisiting homes, too, and you can often get more for your money with a re-sale home.  Work with an experienced, full-time real estate professional and mortgage representative to get the most from this strong buyer's market.

Michigan Voter Identification

If you voted in the November 6, 2007 local elections or the January 15, 2008 primary elections, you noticed that you were asked for identification for the first time.

The preferred ID is a valid Michigan Driver's License or State-issued ID card (also available at the Secretary of State office). Federal or state government-issued photo ID's, U.S. passports, military photo ID cards, photo ID cards from a high school or higher education institution and tribal ID cards with photo are also accepted.

So what happens if you don't possess any of these documents? You were asked to complete an 'Affidavit of Voter Not in Possession of Picture Identification' before being allowed to vote.

This State Law was originally enacted in 1996 and then renewed in 2005, but then State Attorney General Frank Kelley ruled it a violation of the equal protection clause of the 14th amendment on the basis that it was essentially a 'poll tax'. The law had been in 'limbo' since then.

This divisive issue has been split along political party lines, with Democrats in opposition and Republicans in favor of the law. Finally, the Michigan Supreme Court ruled that because voters can choose intead to sign an affidavit swearing to their identity, there was no poll tax. The ruling went along political party lines, with five Republican judges in favor and the two Democrat judges in opposition.

As the second voter in line at my precinct on January 15th, I can attest to the confusion of the election workers first thing in the morning, but they seemed to have it ironed out later in the day, according to my wife, who voted in the late afternoon.

MDOT Closing Park 'n Ride Lot at M-59 and Michigan in Howell

Due to the expansion of M-59 to a 4 lane boulevarded roadway, this Park 'n Ride lot will close for good on February 4, 2008. The next nearest lots are at Michigan Ave and I-96, south of the Howell City Limits, and to the east on Old US-23 just north of M-59.

The project will also undertake ramp improvements at I-96 and M-59, resurface the road and make drainage improvements. Three bridges over M-59 will be totally replaced.

See this link for details. http://www.michigan.gov/mdot/0,1607,7-151-9621_11008_45330---,00.html