Ann Arbor Real Estate Resource and Search

Green Building On the Rise - Buyers Demanding More Green Homes

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 02 Dec 2009 11:16:23 -0600

Winter is here and everyones heating bill is on the rise!

However! All is not lost! Read my post on how to winterize your home to save money on your heating bill for a few energy and money saving tips!

The long term solution to energy efficiency and making those savings stretch is through greener real estate. I have written many times about green real estate since the term first started becoming popular, however the initial uptake by developers was slow and those homes were priced slightly higher than regular properties. Now there are more and more developments and a general trend in the real estate industry to get rid of the "Green Real Estate" term and in so doing, making all real estate "green".

I even have examples of green homes locally here to Ann Arbor - See my post "Examples of Green Ann Arbor Real Estate Building in Washtenaw County"

The figures are shocking and show how the push for greener real estate is needed and how it can help boost the economy. In fact according to a new study from the U.S. Green Building Council and Booz Allen Hamilton, construction in the green-building industry will support 7.9 million jobs over the next four years while pumping into the American economy $554 billion. Currently, 2 million American jobs are supported by the same industry and more than $100 billion in gross domestic product and wages is generated. From 2000 to 2008, $178 billion in gross domestic product was contributed to the economy and 2.4 million direct/indirect and induced jobs were created or saved which generated $123 billion in wages.

With buildings in the United States being responsible for 39% of CO2 emissions, 40% of energy consumption, 13% water consumption and 15% of Gross Domestic Product per year, making green building a source of significant economic and environmental opportunity to start to reduce those figures now and save some money in the process.

Even the National Association of Realtors went green with their headquarters in DC!

Also as homeowners of green property would understand, their homes are more desirable for having these green features already incorporated which can lead to a higher sales price when it comes to selling!

Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs.

Kathy Toth and Team

www.KathyToth.com
Keller Williams Realty

Take a Date Night at Zingerman’s Bake House in Ann Arbor

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 25 Nov 2009 08:46:57 -0600

Zingerman's in Ann Arbor

Well other than home economics in high school, this was my first class and boy; Zingermans did a great job from start to finish. So if you are looking for a different date night, try this out. All classes are booked through 2009, so look at the course schedule for next year.

The class we enjoyed was cream puffs. Now mind you, it was not the subject matter that was important, but the experience of trying something new, meeting different people and participating in our local economy.

Our instructor was Alejandro, assisted by 2 others who were on hand to give tools, clean up and assist. Boy did I need help whisking. I switched from lefty to righty and back trying to get pastry cream to the right consistency, smiling all the time. And, oh by the way, the actual recipes are shared. The point is to use all natural ingredients – flour unbromated, King Arthur is what they buy. Who knew?

Ok, so we made pate a choux. Yah I know it sounds so cool. “pot oh shoo”. What was really interesting is the dough can be used for snack bites, salad crudités, donoughts, and cheese puffs by adding hard cheese. We learned that the largest ingredient in buying chocolate should be cocoa not sugar. We made a ganache to die for to coat éclairs.

Then we sampled, we shared, and we gathered pastries to take home. MMM, so the diet starts tomorrow and back to Ann Arbor Real Estate.

Affecting Ann Arbor Home Buyers - Home Buyers Tax Credits

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 18 Nov 2009 09:41:13 -0600

The $6,500 home buyer tax credit applies only to people who have previously owned AND LIVED in their homes for at least 5 consecutive years out of 8 and are planning to purchase a new home by or before April 30, 2010. For those who previously owned a home and purchased another one this year, the tax credit will not apply. It starts when the bill is signed, and it is not retroactive. The important thing is that your contract must be signed by April 30, 2010; you need to close on the transaction by June 30, 2010. So if you closed on a home prior to Nov 6^th, sorry, you’re not getting anything from the government except the standard IRS refund based on your mortgage payments and property taxes.

Most people are likely to claim the $8,000 or $6,500 dollar tax credit in their 2009 tax returns. But, an immediate refund is available to those who amend their 2008 tax returns. This time around, in order to avoid fraudulent refunds, the IRS will require those claiming the tax credit to attach proof of their new home purchase. Also, all purchasers must prove that they are over 18 years of age. This is great news for our Ann Arbor Real Estate.

The new homebuyers tax credit also expands the income limits for buyers. The adjusted gross income limit for single taxpayers to receive full benefits has risen to $125,000 and to $225,000 for joint income tax payers.

The estimated cost of the extended tax credit bill is likely to be around $11 billion. However, according to the National Association of Realtors (see PDF comparison table), the tax credit has already added more than $22 billion to the nation’s economy and will result in more than 2 million home sales.

The tax credit applies to residences priced up $800,000. The majority of homes sold during the initial tax credit program were priced at under $300,000. Only 20% were priced between $300,000 and $400,000. See home buyer tax credit video.

Since its inception in 2008, about 1.4 million people have filed for the home buyer tax credit. However, despite whatever economic stimulation may have resulted, legislators have indicated that this is likely to be the last time the tax credit will be extended.

There are many creative ways of structuring your home purchase transaction in ways that maximize the benefits of the credit. Here are a few examples:
· The credit applies to 1-4 unit homes as long as you live in one of the units as your primary residence – you could live in one unit and rent out the others
· If two unmarried individuals buy a home, and only one of the individuals qualifies for the credit based on their income or past home ownership status, the individual who qualifies for the credit can claim the full credit. (Note: In the case of married couples, both spouses must qualify for the credit.)
· The credit applies even if you have co-signers on your mortgage loan

Here are some frequently asked questions on the changes to the Homebuyer Tax Credit

Question: Existing homeowner credit: Must the new house cost more than the old house?
Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.

Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?
Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.

Question: I am a first time homebuyer but was not within the prior income limits at the time I entered into my contract to purchase on October 30, 2009. I will be covered, however, by the new income limits. If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit?
Answer: Yes. The new income limitations go into effect as soon as the President has signed the bill. The income limit and other eligibility rules will look to your status as of the date of purchase, which is the settlement date. So if the new rules have been signed when you go to settlement, you should be eligible for the credit (or a portion of the credit if you're within the phase-out range).

Question: I am an eligible existing homeowner. I have a fair amount of equity in my home. I
have found a home with a nonnegotiable
price of $825,000. Will I be able to use any
of the $6500 tax credit?
Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount
above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an
absolute ceiling.

Question: I owned my home for 10 years, but sold it two years ago year and have been renting
since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the
other eligibility tests?
Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000 and lived there until 2008 when he got a divorce. Whether John has been renting or bought in the interim, he WOULD INDEED be eligible for the credit because he owned a home and
occupied it as his principal residence for 5 consecutive years out of the last 8 years. The
keyword here is "consecutive." As long as he lived in that house for 5 years straight what he
did since 3 years doesn't impact eligibility.

Question: I am an eligible first time
homebuyer. I entered into a contract to purchase on November 1, 2009. Do I have to go to closing before December 1? How does the extension date affect me?
Answer: You do not have to close before December 1. Now it is as if the Nov 30 date had never existed. Therefore, so long as the contract settles on or before June 30, 2010, the purchaser will be eligible for the credit.

Home Buyer Tax Credit Extended and Expanded

	Current	New
Effective Date	· January 1, 2009	· December 1, 2009
Deadline	· Close on or before November 30, 2009	· Contract signed before May 1, 2010, must close before July 1, 2010 · Members of the uniformed services, foreign services, and intelligence employees who served an extended service of 90 days will have until April 30, 2011 and June 30, 2011.
Amount	· First-Timers: maximum of $8,000 or 10% of sales price · Prior Owners: $0	· First-Timers: Unchanged · Prior Owners: $6,500 if lived in prior home for at least 5 years of past 8 years
Income Limit	· Individual: $75,000 · Couple: $150,000	· Individual: $125,000 · Couple: $225,000
Other Restrictions	· Home must be primary residence for at least 3 years. If home is sold or buyer moves before 3 years, must re-pay full amount of credit.	· Buyer must be at least 18 years old and not classified as a dependent for tax purposes · Home must cost less than $800,000 · New Home must be primary residence for at least 3 years following purchase. If home is sold or buyer moves, before 3 years, must re-pay full amount of credit. Exception for military, foreign services, or intelligence with extended 90 days service overseas.
How to claim	· If purchased in 2009, by amending 2009 tax return or claiming on 2010 tax return	· If purchased in 2010, by amending 2010 tax return or claiming on 2011 tax return

Link to previous Home Buyer Credit here.

Kathy Toth and Team
www.KathyToth.com

Keller Williams Realty

November Events and Entertainment for Ann Arbor Community!

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 11 Nov 2009 08:29:01 -0600

Winter is all most at our front doors! So grab your family and friends and try something new and exciting before the cold weather hits us like a storm. November in Ann Arbor is fantastic and here's how you can enjoy it: Take a walk in Ann Arbor's Main Street and check out all the window displays, relax and enjoy a wine and food tasting, spend a ladies day out at a local craft show or enjoy some comic relief of some classic horror stories to keep the Halloween spirit still alive. Don’t forget to let me know how you enjoy your experiences!

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1/23/2009 - 3/28/2009
MAMBO ITALIANO - ITALIAN BREADS BAKING CLASS WITH ZINGERMANS

Did you know you can travel from Puglia to Genoa to Sicily without leaving Ann Arbor? In Mambo Italiano, we’ll take you on a bread-baking tour across Italy and you’ll return home with loads of ciabatta, focaccia, and sesame semolina and the skills to make them any time you want to satisfy the craving for an Italian holiday. This is a full day of Italian baking from the poolish to the brushing of olive oil (with a little lunch mid-day, but no napping)! While our loaves are rising we’ll sneak into the Bakehouse to see it done on a much bigger scale.

Zingerman's Bakehouse
3711 Plaza Dr.
Ann Arbor, MI 48108
Map/Driving Directions

Phone: (734)761-7255

Hours: 9:00am-5:00pm
Cost: $250

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2/5/2009 - 2/14/2009 (Fridays, Saturdays, Sundays)
A2CT Studio Series--EARTH AND SKY
This exciting thriller examines the seedy urban underworld where murder leads to an indistinct demarcation between law enforcement and law infringement.

A2CT Studio Theatre
322 W. Ann St.
Ann Arbor, MI 48104
Map/Driving Directions

Phone: (734) 971-2228
Fax: (734) 971-2769
For more information, click here
E-mail: manager@a2ct.org

Hours: Fri. & Sat. @ 8pm, Sun @ 2pm
Cost: $15 Reserved Seating; $10 General Seating

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2/5/2009
LADIES NIGHT OUT
Downtown Saline is rolling out the red carpet for ladies again! Gather up your mom, sister, daughter, best gal-pals, co-workers and cohorts and enjoy special treatment up and down the streets. Our retail stores will have trinkets, specials and drawings for goodies and our restaurants will have food and drink specials. What more could a gal want: shopping, food, drinks, and friends!

Downtown Saline
Michigan Avenue
Saline, MI 48176
Map/Driving Directions

Hours: 3:00pm-8:00pm
Cost: FREE

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2/6/2009
A REVOLUTION IN PLANETARY SCIENCE: THE THREE ZONED SOLAR SYSTEM
Science's view of our planetary system was fundamentally restructured by the 1990's discovery of the Kuiper Belt beyond Neptune and the recent discoveries of numerous Pluto-sized bodies in the Kuiper Belt. S. Alan Stern, former Associate Administrator for Space Science, will be speaking.

Dow Chemistry Building
930 N. University Ave, 1800 of Dow Chemisty Building
Ann Arbor, MI 48104
Map/Driving Directions

Hours: 7:30pm
Cost: FREE

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2/12/2009 (The Ark)
MY FOLKY VALENTINE
What better time than Valentine's Day to explore how married couples make music together? "My Folky Valentine" is an annual celebration of romance!

The Ark
316 South Main St.
Ann Arbor, MI 48104
Map/Driving Directions

Phone: (734)761-1451
For more information, click here

Hours: 8:00pm
Cost: $15

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2/14/2009 (Chelsea Area Chamber of Commerce)
A CHOCOLATE EXTRAVAGANZA IN DOWNTOWN CHELSEA
Valentine’s Day is fast approaching, and there’s no better way to express your love than CHOCOLATE. Bring a loved one to downtown Chelsea on Saturday, February 14th for the ultimate chocolate experience. Participating stores will be marked with red hearts and will offer free chocolate tasting, sales on chocolate-themed merchandise, door prizes, and various activities from noon - 5 pm.

Downtown Chelsea, MI
Downtown Chelsea
Chelsea, MI 48104
Map/Driving Directions

Phone: 734-475-3539
For more information, click here

Hours: 12PM-5PM
Cost: Free

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2/14/2009
GRAND TRADITIONS VALENTINE'S BALL
The Romantic Event of the Season! Enjoy dancing to popular music from 1900 to the 1920's. All levels of dancers are welcome. The pre-ball workshops will get you ready to enjoy the evening.

Pittsfield Grange Hall
3337 Ann-Arbor Saline Road
Ann Arbor, MI 48104
Map/Driving Directions

Phone: (734)769-0041

Hours: 8:00-11:00pm
Cost: $25/person

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2/14/2009
VALENTINE'S DAY STAR PARTY
Come as a pair or come on your own to a special Star Party with the University Lowbrow Astronomers. They will bring telescopes and set up for guided viewing of the night sky. Advance reservations required.

Matthaei Botanical Gardens
1800 N. Dixboro Rd
Ann Arbor, MI 48104
Map/Driving Directions

Phone: (734)647-7600

Hours: 7:00-8:30pm
Cost: $5

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2/15/2009 (Huron Valley Railroad Historical Society)
39TH ANNUAL TRAIN SHOW AND SALE
The Ann Arbor Model Railroad Club is having their annual train show. The show will include over 400 tables, operating layouts, and much more.

The Saline Middle School
7190 N. Maple Rd
Saline, MI 48176
Map/Driving Directions

Hours: 10am-4pm
Cost: $6

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2/19/2009
WHO YOU CALLING A CREAMPUFF?
Ever wonder how to make those tender hollow little cream puff shells? Well join us to find out! Learn the history and basic techniques of creating sweet and savory pastries from pate a choux (pot-a-shoo) dough. You will make your own dough and create éclairs, cream puffs, and savory creations to take home. We’ll also make pastry cream, whipped cream, and chocolate ganache in class to fill your puffs.

Zingerman's Bakehouse
3711 Plaza Dr.
Ann Arbor, MI 48108
Map/Driving Directions

Phone: (734)761-7255

Hours: 5:30pm-9:30pm
Cost: $100

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2/20/2009
ARTINI MARTINI CRAWL 2009
In celebration of its 100th anniversary, the Ann Arbor Art Center has invited the city's most creative restaurants to develop commemorative martinis.

Ann Arbor Art Center
117 W. Liberty
Ann Arbor, MI 48104
Map/Driving Directions

For more information, click here

Hours: 6:00pm
Cost: $35 early bird, $40 after February 6

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2/24/2009
ROYAL CELEBRATION AND CASINO BALL BENEFIT
The Quarter Bistro and Tavern will host its First Annual Royal Celebration to benefit Great Lakes Rabbit Sanctuary. The Quarter will transform into Ann Arbor's own French Quarter with live blues music, festive masks, beads and a speak easy casino.

Quarter Bistro and Tavern
300 S. Maple
Ann Arbor, MI 48104
Map/Driving Directions

Phone: (734)929-9200

Hours: 4:00pm-Midnight
Cost: TBA

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1/31/2009 - 7/5/2009
TRAVELING EXHIBITION FROM NASA
This multi-media, interactive travling exhibition from NASA explores the extraordinary discoveries made by the Hubble Space Telescope, which will be 19 years old in April 2009.

Exhibit Museum of Natural History
1109 Geddes Ave
Ann Arbor, MI 48104
Map/Driving Directions

Hours: Mon.-Sat. 9:00am-5:00pm, Sun 12:00pm-5:00pm
Cost: FREE

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Above was a sampling of the activities occurring in our community during the month of November. More than 56 events are planned in the Ann Arbor area this month. There are many interesting events from science exhibits for adults and children alike, to cooking classes and musical theatre. Please be sure to check out one of the many Valentine's Day events being held next week and show your sweetie a good time.

To view the Ann Arbor Area Convention and Visitors Bureau,
click here and choose your own criteria and dates.

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Click here to search all Ann Arbor area Michigan homes
and condos with pictures and tours - FREE!

Kathy Toth and Team
www.KathyToth.com
Keller Williams Realty

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Michigan Economy Update: State on Right Track!

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 04 Nov 2009 13:44:08 -0600

Really encouraging news regarding Michigan's part in the Recovery and Reinvestment Act. The state has received around $5.2 billion in stimulus funds which has so far helped create 22,000 new or saved jobs! This is great news! The state now ranks number 9 in the nation for jobs created or saved due to the act.

It is clear that the worst of the recession is over. Lawrence Yun the Chief Economist for the National Association of Realtors even came to Michigan a few months back to talk about the Real Estate Market and the economy. Things were starting to move back then and now with the influx of first time homebuyers purchasing properties and the effect of the stimulus money is being felt. (Keep track of Michigan on the government recovery website)

The stimulus money is also being funneled into other areas and not just being used for job creation, including tax cuts for residents and small businesses, weatherization projects, college tuition grants, unemployment insurance benefits and plugging the deficit in the state budget.

This is definitely exciting news for the state and for the region - no wonder Ann Arbor is a top relocation destination worldwide!

Kathy Toth and Team

www.KathyToth.com
Keller Williams Realty

Relocating to Ann Arbor? Take a Look at Traver Lakes!

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 28 Oct 2009 09:21:00 -0500

Traver Lakes in northeast Ann Arbor Michigan is a great community!

This great condominum based development was constructed back in 1973 -1979 and consists of 88 units with maintenence fees of $277. Residents of the desirable units, due to their proximity to downtown Ann Arbor, pay Ann Arbor taxes and their children attend Ann Arbor schools. The units range in size from 2-4 bedrooms, 1420-2100 square feet and 1-4 bathrooms.

The community offers all the amenities that Ann Arbor offers and is close to the University of Michigan and its downtown campus. The units are built around small ponds and creeks that feature walking trails around the development. Garage parking is available, and a clubhouse, outdoor pool, & tennis court are maintained for recreation. This makes Traver Lakes the ideal community to relocate to in Ann Arbor!

We have a listing at 2515 Meade Ct, for sale at present in the community. You can view more on this great 3 bedroom, 2.5 bathroom property here.

For more on the community association you can view their master documents here.

Here is an aerial shot of the community:

Remember if you wish to purchase a home and if your are a first time homebuyer there is still time to be eligble for the tax credit!

Kathy Toth and Team
www.KathyToth.com

Keller Williams Realty

Tracking the Effectiveness of Your Craigslist Ad Just Got Easier

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Thu, 15 Oct 2009 11:08:31 -0500

My Real Estate Virtual Assistant is doing this for me and I wanted you to know how to track your CraigsList.com ads too!!!

See below from my VA Service of 7+ years - RealSupport Inc. www.RealSupportInc.com, info@RealSupportInc.com

Via RealSupport Real Estate Virtual Assistant (RealSupport Inc.):

Craigslist has become a very powerful tool for many real estate professionals. We typically recommend posting your listings to Craigslist. It is also a great place to post events like Home Buyer Seminars, general ads like “Receive a FREE Market Analysis of Your Homes Value”, and even for recruiting new agents.

As Real Estate Virtual Assistants, the online marketing efforts that we implement can be pretty extensive. At RealSupport, we provide package pricing per listing for listing marketing and we are often asked to recommend the best sites for advertising our client’s listing. I’m a big believer in Craigslist (however, I do realize there are reasons it doesn’t make sense for some agents), so this site is typically part of each of my client’s listing package.

Some of our clients spend upwards of $400 for us to market their listing. We want to be certain they are getting the most bang for their marketing dollars. In search of a tool that would allow us to make sure we have the data to back-up our positive opinion about Craigslist, we have been testing a free tool call http://craigslistadtracker.com/ that can be used to track the activity of each Craigslist ad. So far we have found this tool to be easy to use, accurate, and consistent in providing us hit reports on each ad.

With that said, perhaps we find the result to be the opposite and our ads are not being viewed… before you throw out baby with the bathwater, I recommend tweaking your ad title. On a similar note, if you are posting your ads with HTML code from some other source (like Postlets), you MUST still upload a photo. Most Craigslist users will not click on an ad that does not have a PIC (which is the notification next to the title indicating there is a picture uploaded to the ad). I did not like the way the uploaded photo looked with the attractive HTML code from Postlets, so we tricked the system and we upload a blank image… now the ad still looks nice and the ad indicates there are pictures (which of course there is because that is part of the HTML).

How it works

Register an account

Create a tracker

Insert the tracking code on your craigslist ad or webpage

Every page view will be logged for reporting

Analyze the report

Why use this service?

Know the number of page views your ads receive

Know which type of ad gets the most clicks or generate more leads

Know your visitor locations

Up-to-the-minute real-time stats

Email notifications

Track unlimited postings

Several reports and charts to help you analyze your stats

Invisible and seamless tracking

Timezone conversion for reporting

Image hosting and tracking

It works on Craigslist, Oddle, Myspace and other networks that support HTML listings

It is simple and FREE to use

You can’t manage what you don’t measure. Click here to create an account.

If all this sound just a little to complicated, you need a Real Estate Virtual Assistant! Let a REVA do the work for you… all you should worry about are the results, right?

Carrie Gable, President
RealSupport Inc.
Phone: 847-705-1655 x200
Email: Carrie@RealSupportInc.com
www.RealSupportInc.com
Our Real Estate Client Testimonials
Our Real Estate Marketing Samples
Our Virtual Assistant Team

RealSupport Inc. - Providing superior Real Estate Virtual Assistant services to Real Estate professionals nationwide since 2000.

Ann Arbor Area Real Estate Update for Chelsea, Michigan: Inventory Shrinking

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 14 Oct 2009 10:04:45 -0500

Before jumping into market data, click on picture for Chelsea, Michigan Tour.

As of September 30th, there were 162 active Chelsea homes down from 172 active homes for sale last month: ranging from 1 bedrooms to 6, 1 bathrooms to 7 and priced from $65,000 to $995,000. The average asking list price per square foot was $129.77 down from $137.41 last month. There have been 99 homes sold in Chelsea this year ranging in bedrooms from 1 to 5 and bathrooms from 1 to 6. The largest home sold was 3,800 square feet down to the smallest at 600 square feet. The average list price of the homes that sold in 2009 was $189,904 and the average sold price was $179,684. This represents an average annual sold price per square foot of $97.40. The sellers got an average of 94% of asking price this year. The Chelsea Real Estate Market from October 06 to September 09 is graphed below with the wide sold price swings displayed. September Chelsea sales data is represented by the Ann Arbor Area Board as dipping from last month shown by the yellow line below.

The chart below shows that there is about a 7 month supply of homes for sale in Chelsea, Michigan, so we are still in a buyers market and may be stabilizing unless we see a rash of foreclosure homes hit the market. The inventory under $200,000 is shrinking and we are seeing multiple offers. There is still an abundance of choice, low interest rates and great prices.

	JAN	FEB	MAR	APRIL	MAY	JUNE	JULY	AUG	SEP
Listings	174	115	148	161	177	148	169	172	162
Under Contract	7	5	8	14	12	16	18	9	8
Sales Past 12 Months	304	328	290	295	287	274	279	273	291
Absorption Rate/	25.3	27.3	24.2	24.6	23.9	22.8	23.3	22.8	24.3
Months Supply	6.9	4.2	6.1	6.5	7.4	6.5	7.3	7.6	6.7

Other charts below show the trends over the last 12 months. The first chart - Chelsea: Median Price (FS, Sold) shows home prices listed are up 7% and sold prices are down by 9% comparing September 08 to September 09 with trend lines showing a slight price increase over the last 12 months.

Chart 2 - Chelsea: Supply & Demand - # Units (FS, UC, Sold) below shows that units for sale from September 08 to September 09 are up 25% and sold units are down 9%. At least the number of active homes for sale is being reduced somewhat indicating we are on the way to stabilizing.

There is still an abundance of choice, low interest rates and great prices. If you know any one who is a first time home buyer looking to use the first time home buyer tax credit, time is running out to ensure closing by November 30th, 2009. Le us know you if are coming to our home buyer class this month: 734-845-6542.

Want to know what your Ann Arbor Area home is worth?

Dexter Community Events, Activities and Information for October

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 07 Oct 2009 10:38:29 -0500

Take a look at what’s happening in Dexter, Michigan
during the month of October!

10/5 - Planning Commission Regular Meeting
Time: 7:30 PM - 10:00 PM
Category: Village of Dexter - Planning Commission
Recurrence: Occurs the First Monday of every month
Location: Senior Center
7720 Dexter-Ann Arbor Street, Dexter, MI 48130

10/6 - Arts, Culture, and Heritage Committee
Time: 7:00 PM - 9:00 PM
Category: Village of Dexter - Arts, Culture & Heritage
Recurrence: Occurs the First Tuesday of every month
Location: Senior Center
7722 Dexter-Ann Arbor Street, Dexter, MI 48130

10/7 - REAL ESTATE BUYER ROUNDTABLE
Time: 6:00 PM - 7:00 PM
Category: Education Kathy Toth and Team Keller Williams
Recurrence: Monthly Diane 734-845-6542 for reservations
Location: United Bank and Trust
355 S.Zeeb, Ann Arbor, MI 48103, South entrance

10/7 - Village Council Meeting
Time: 6:30 PM - 8:30 PM
Category: Village of Dexter - Village Council
Recurrence: Occurs the Second and Fourth Monday of every month
Location: Dexter Library
3255 Alpine Street, Dexter, MI 48130

10/12 - Village Council Meeting
Time: 7:30 PM
Category: Village of Dexter - Village Council
Recurrence: Occurs the Second and Fourth Monday of every month
Location: Senior Center
7720 Dexter-Ann Arbor Street, Dexter, MI 48130

10/20 - Parks Commission Meeting
Time: 7:00 PM - 9:00 PM
Category: Village of Dexter - Parks Commission
Recurrence: Occurs the Third Tuesday of every month
Details: Regular Parks Commission meeting
Location: Village Offices
8123 Main Street, Dexter, MI 48130
Directions: Second Floor of National City Bank

10/26 - Village Council Meeting
Time: 7:30 PM
Category: Village of Dexter - Village Council
Recurrence: Occurs the Second and Fourth Monday of every month
Location: Senior Center
7720 Dexter-Ann Arbor Street, Dexter, MI 48130

Click Here to view a calendar which features all of the Events
and Activities occurring in the Village of Dexter!

Interactive National Map for Foreclosure, Unemployment, Median Income

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Sun, 04 Oct 2009 13:17:51 -0500

I thought my Michigan budies might like this chart. This is a resource to help with factual data. Although Jim Dries of Washtenaw County says that our foreclosure rate is 1 out of 8.

The fallout from the recession has cut deeply into the housing security, employment and income of many Americans. But some parts of the country are clearly faring better than others. Here, three interactive maps show foreclosure and jobless rates and household income by county.

This interactive foreclosure map available for the Country. I searched for Michigan and it shows Washtenaw foreclosures are 1 out of every 289 households with 147, 026. Washtenaw County Labor force is represented as I75,165 and unemployment at 9.5 percent. Washtenaw County Median household income is represented as $59,883. Move your curser over Counties of choice to uncover details.

Hope this is helpful and let me know what you think.

Video News by Michgian Association of REALTORS

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Fri, 02 Oct 2009 02:00:05 -0500

See several vidoes by MAR in their recent newsletter Dan Coffey, and others bring the printed page to life, like Harry Potter.

I am very impressed by the thought put into this form of electronic communication by MAR as they say,

"The Michigan Association of REALTORS® is a professional trade organization for real estate professionals and the primary source for Michigan housing and real estate data. Comprised of 45 local REALTOR® Associations, at the Michigan Association of REALTORS®, we serve more than 23 thousand members in a number of ways, such as providing free legal advice and pre-printed forms, discounts on insurance and phone service, educational classes and networking opportunities. All of our members adhere to a strict Code of Ethics, established by the National Association of REALTORS®". You can quickly forward to a friend. I suggest you let other associations in other states take a peek.

I am a fan of Michigan videos, used in almost every blog post on www.AnnArborTalks.com. I hope to see more of these with more timely input from around the state!

Diane Ratkovitch Earns Certificate Specializing in Short Sales and Foreclosure Transactions - Joins the Kathy Toth Team’s Distressed Sales Division

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 30 Sep 2009 12:17:12 -0500

Diane Ratkovitch Earns Certificate Specializing in Short Sales and Foreclosure Transactions
Joins the Kathy Toth Team’s Distressed Sales Division

In response to requests from many Ann Arbor sellers, and the regularity of short sales and foreclosure-related transactions, Keller Williams created a Short Sale and Foreclosure Certification plan for Pre-Foreclosure Specialists. Video of the instruction can be found below.

"Someone that comes out of the program will have enough education to be a resource," said Marian Benton, operating principal for Keller Williams Temecula and Ann Arbor Market Centers. "It will familiarize them with the terminology and give them a road map to manage these transactions." To earn the PSC certification, REALTORS® must complete a two-day education program and pass a written test. Diane Ratkovitch joins the Kathy Toth Team distressed sales division in preparing clients in selling and purchasing these properties. Ratkovitch is a seasoned sales professional focused on client satisfaction and enjoys connecting with home buyers to help them find their dream home. She also hold the Certified Relocation Specialist designation to facilitate relocating families to Ann Arbor, Saline, Chelsea, Dexter and all of Washtenaw County.

About Kathy Toth and Team

Kathy Toth and Team, REALTORS®, ranks among the top one percent of REALTORS® nationally, has been helping individuals and families find a place to call home in all price ranges for over 20 years in Washtenaw and Southern Livingston Counties. A Certified Distressed Property Expert and Accredited Seller Representative, Kathy Toth has helped over 1,000 people maximize profits and minimize costs in the sale or purchase of homes and condos. Whether you are looking for your first home or your dream home, planning to relocate, or need to sell for the highest value, the Kathy Toth Team can help. For more information, please call 734-669-0337 or visit www.KathyToth.com ****

Comprehensive list of Bank Owned, Pre-Foreclosure and Short Sales list. The team will assist you with any of these. It is estimated that 50% of sales in 2009 will be from these type of properties as buyers are looking to take advantage of low prices and interest rates. Short Sales are properties that are selling for less than what is owned but buyer will get clear title and no liens.

And don't forget about our new feature on our website which allows you to do a self search of properties offered for sale in Washtenaw County – Ann Arbor, Chelsea, Dexter, Saline, Michigan: www.KathyToth.com. This system will also allow you to receive automatic e-mails of new properties that match your search criteria. Best of all it's FREE.

To view distressed sales this week, please go to http://kathytoth.com/foreclosure_deals

Ann Arbor a Worldwide Choice for Global Citizens

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 23 Sep 2009 14:36:13 -0500

Many of our clients are bringing money from other countries and we want to provide a currency converter. Before transferring money for a transaction, check with your lender and the title company regarding homeland security issues. We just had a closing not close because the parents transferred $52,000 into the Ann Arbor condo buyers bank account. He only needed $12,000 so the lender had to have documentation for the additional funds which happened to be from China. Once documentation was secured (one week later) the son was able to close. He was thankful for the money, but the additional funds could have waited until after closing to prevent the delay.

One of the cool things about living here is having many international friends, some who are foreign language professors. Some of our professor friends have volunteered to help us with relocation buyers language translation needs. Talk about personalized service!

You know, we help many families relocate to Ann Arbor. Diane, one of our buyers agents is a certified relocation specialist, which is the highest designation showing she has a higher standard of care and knowledge to assist our clients.

Coming from another area, you will may want to know about Washtenaw schools, crime, neighborhoods, shopping, sports, dining, clubs, recreation, your interests, and organizations. That is alot to digest.

Some of Ann Arbor’s Honors for 2009:

America’s 75 Best College Cities (Third Best Small City) - American Institute for Economic Research, 2009

Best Place to Spend a Sunny Day (Gallup Park) and Best Overall Park/Playground (Gallup Park and Mill Pond tie) - Ann Arbor Family Magazine, 2009

Top-rated Midsized Metro (No. 5) - Bizjournals, 2009 list

Best Place to Raise Your Kids - Business Week Magazine, 2009 list

Ann Arbor’s Best Golf Course: Leslie Park Golf Course - Current Magazine, People’s Choice list, 2009

Top 10 U.S. City to Visit With Your Dog (No. 10) - DogFriendly.com, 2009 list

Best Municipal Golf Course in Michigan: Leslie Park Golf Course - Golf Digest, 2009 list

Bicycle-friendly Community, Silver-level Award - League of American Bicyclists, 2009

Smarter Cities - Progress Toward Sustainability (No. 12) - National Resources Defense Council, 2009

Best Ice Skating Rink: Veterans Memorial Sports Complex - WDIV-TV4 2009 Best Winter Guide Contest

Just know we come from a servant’s heart and live by the platinum rule. We treat others how they want to be treated. We have relocated ourselves. Now our children have relocated, so we bring a lot of experience to the table for you. Allow us to serve you and your family when you transfer to Ann Arbor. Let me know if you need tickets to a University of Michigan taligate party - that will get you into the swing of things.

Measuring Up

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 16 Sep 2009 09:04:10 -0500

We like to be helpful whenever possible. One of the added values we carry is a measuring device. Our Ann Arbor Area Board does not require room measurments. Agents can take them and enter them, and we do. But when we are at other listings, it can be very useful to the buyers to know room measurments. I can’t tell you how often the electronic device has helped our Ann Arbor Real Estate buyer clients. Most buyers want to know if the bedroom furniture will fit, or if the side yard is big enough for the dog kennel, or if the garage is deep enough for their truck, or just generally to measure out room or yard dimensions. So if we’re working together and you’re wondering how big a room is – just ask! We’ll grab and measure to see if the property measures up.

We know, it’s just a little thing. But we think it’s kinda nice. If you are relocating to Ann Arbor, give us a call to find the best properties and make sure they work for you. And remember to come to the Ann Arbor Home Buyer Seminar Oct 7th.

Buyer Roundtable with Kathy Toth and Team plus United Bank and Trust - October 7th

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 09 Sep 2009 15:31:42 -0500

Buyer Roundtable

United Bank and Trust and Top Ann Arbor Agents Host
Free Home Buyer’s Roundtable

Today’s market is extremely challenging for both sellers and buyers. Kathy Toth and Team will be hosting a round table discussion about current housing trends in hopes to arm buyers with knowledge about the changes in lending guidelines and programs.

Nationally known, Toth has been a real estate agent since 1989 and is consistently one of the top selling Realtors® in Michigan. With local knowledge and years of experience, Kathy Toth and Team provide this seminar to help potential buyers understand this difficult market. As part of one of the leading real estate teams in Michigan, Keller Williams Realty, the buyer agents take a personal interest in guiding Ann Arbor residents through purchasing a home.

During the seminar, United Bank & Trust and our Team will cover various home buying topics in clear, easy-to-understand language that will include:

•    Gain the knowledge that will help them buy and/or sell a home in a slow market
•    Discover ways to save money
•    Learn how to buy a home with no money down and other helpful buyer tips
•    Participate in our open discussion to dispel real estate myths

Home Buyer Seminars are open to everyone, whether or not a home purchase is in the foreseeable future.

The upcoming seminar is scheduled for the following date:

Date: Wednesday, October 7th 2009
Time: Seminar Begins at 6:00 p.m.
Where: United Bank and Trust, 355 S. Zeeb Road, Ann Arbor, MI 48103 Come into the building’s South entrance to get into the bank.

To RSVP, please get your name on the list; call Diane 734-845-6542 or email Info@KathyToth.com.

Buyers will also find additional information and resources at Toth’s web site, www.KathyToth.com, where they can also sign up for her free monthly newsletter, search listings, as well as find additional information on buying or selling a home.

****

New Google Tool: Search Insight

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Sun, 06 Sep 2009 07:14:54 -0500

Google Came Out with a Graphing tool at http://www.google.com/finance?q=GOOGLEINDEX_US:RLESTTo see Real Estate Search compared to Unemployment as an example of what people are looking at could be helpful to plot trends.

This index tracks searches related to real estate, mortgage, apartment rentals.

You can plot stocks here and other categories. Let me know what you would use this for.

Ann Arbor Area Real Estate: Recorded Sheriff's Deeds in 2009

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 02 Sep 2009 13:35:09 -0500

What percent of recorded deeds are sheriff’s deeds? See video of James Dries, as he explains.

One in eight deeds that have been recorded in 2009 are foreclosure deeds. The number of sheriff’s deeds recorded in 2009 lag behind those recorded in 2008. Anticipated 2009 county tax revenues will be about $1,000,000 as compared to $4,000,000 in the recent past, according to James Dries of Washtenaw County. Transfer taxes are not collected on sheriff’s deeds. That combined with real estate price declines account for tax reduction revenues. Will the recent deferral laws stall the foreclosure inventory coming on the market? Is the market stabilized? Watch James monthly reports as we do to find out the most recent trends. What does Lawrence Kestenbaum, County Clerk/Register of Deeds do for Washtenaw County? Listen to Larry talk about transfer tax and deed recording history.

He has a political web site from colonial times to present, that you might want to check out. What else do you wonder? What did you think of the videos?

Foreclosure vs. Short Sale Options in Selling Your Ann Arbor Home

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 26 Aug 2009 08:58:43 -0500

The Real Estate world is always full of confusing terms, part of our job is to de-mystify them for you, the client and reader, to allow you to understand the opportunities that are out there for you!

Being Short Sale and Distressed Property experts, we are the leaders in the Ann Arbor Bank Owned and Short Sale Market.

Realty Times has recently written an article discussing investing in Bank Owned Properties, (REO’s), and Short Sales. However with much press at the moment about foreclosures, how are you to know the difference? Well, here is, in short, a handy guide showing the salient points:

Bank Owned Properties:

Who Owns This Type of Property?: Typically a bank or a national servicer.

Offer Process?: Standard purchase and sale agreements are used as well as the banks’ own addendums and disclosures. Before a Bank forecloses they have one or more brokers provide an opinion of value. (BPO) Then at the time of foreclosure/listing they have the listing broker determine if that value is still valid. Most of the time the Bank is pricing the property near market value and is expecting to sell the property close to the asking price. Note that with regards to repair contingencies, the Bank prefers not to make repairs to the property so an “as-is” sale is common.

Money/Financing: Earnest money will need to be in the form of a cashier’s check. Proof of funds for the down payment and loan approval for the balance will also need to accompany the offer. If financing may be difficult for you then perhaps rethink this type of sale.

Closing Dates and Timing: The quickest turnaround time is best. Be prepared to move quickly. This is why there are so many cash deals for these types of transactions. Once a buyer’s broker has submitted all the appropriate paperwork in accordance with the bank’s rules you may receive an answer within hours or it may take up to a week. Be patient!

Short-Sales: (See our guide - Three Qualification for Short Sale)

Who Owns This Property?: Legally the property is owned by a person or entity (e.g. company - LLC, Corporation, Trust, etc) and the house could be occupied or it could be vacant. However, this is a negative equity situation and the owner needs lender approval to affect the sale.

Offer Process?: A standard purchase and sale agreement is used along with an addendum acknowledging the fact that this is a short-sale transaction. It’s listing price for the property may be well above, at or below market. As with REO’s, repairs are unlikely and uncommon. Therefore “as-is” contracts are common.

Money/Financing: Earnest Money should be in the form of a note that is converted to cash (check to Escrow) after acceptance or even after removal of the inspection contingency. Also you should supply proof of funds for down payment and pre-approval from the lender for any new loan to make your offer stronger. Being prepared with paperwork is key here and supplying as much information about how strong a buyer you are will help.

Closing Date/Timing: Closing can occur within 30 days but the 30 day clock will not start until the lender gives their approval – The approval process may take one week or it may take up to three months. Watch out that while you are waiting the bank does not foreclose making your deal void!

In short - have patience and persistence and you may be successful with short sales! The National Association of Realtors has published a “field guide for short sales” available here.

However the best thing for any complex transaction like bank owned properties or short sales is to have the assistance of a knowledgeable team behind you. So call us, today for assistance with bank owned properties and short sales.

To view Ann Arbor distressed sales this week, please go to http://kathytoth.com/foreclosure_deals. Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs.

Kathy Toth and Team
www.KathyToth.com
Keller Williams Realty

Beautiful Brownstones in Prime Downtown Locale: Ashley Mews Condominiums

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Fri, 21 Aug 2009 11:01:52 -0500

Ann Arbor is full of a great variety of different real estate options for the discerning buyer. Whether you are looking for a home in the suburbs or a unit downtown Ann Arbor Real Estate has it all!

Ashley Mews in downtown is a great development which offers luxury living minutes from all amenities that downtown Ann Arbor has to offer.

The properties at Ashley Mews are located on South Main Street, just one block south of Restaurant Row in downtown Ann Arbor and are modeled after the fine tradition of Boston’s Back Bay and Georgetown in Washington, D.C.'s classic brownstone and loft condominiums. Ashley Mews is a community of condos built in 2002-2003 by O’Neal Construction of Ann Arbor. The development offers five floorplans including 2, 3 and 4 level models as well as penthouse units accessed exclusively by a private elevator.

The Ashley Mews also have tucked away parking spots underground as well as gracious outside spaces. Pets are allowed. Children attend the following Ann Arbor Public Schools: Bach Elementary, Slauson Middle School and Pioneer High School. Of course the development is also only one mile from central campus.

The units inside feature stunning finishes throughout, including hardwood flooring, en-suite bedrooms with walk-in closets, maple, oak or cherry cabinetry in the kitchen, granite counter tops, stainless steel appliances and much, much more!

In total, Ashley Mews is a 112,360 square foot development containing 47 units organized over five brownstone buildings. Building Association fees include gas, water, sewer and garbage pick up.

Please contact our office for more information on this development and its units.

Kathy Toth and Team
www.KathyToth.com
Keller Williams Realty

Ann Arbor Arts Fundraising

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Thu, 20 Aug 2009 05:42:31 -0500

I took a break to be at a meet up this moning at Sweetwaters on Wahington to support a fund raising campaign to support the arts in the area. According to a survey in Washtenaw County, 63 percent said arts and cultural programs are very important in the residents choice to live in Washtenw County.

Four percent of the county's total workforce works in the creative economy. Ten percent of the county's total payroll is generated by the creative economy. The group for the Tuesday Twetup are part of the Community Foundation of Southeast Michigan's Arts and Culture Challenge. This was their effort to engage in social networking to help the fund raising efforts and awareness. For detailed information click here. For Ann Arbor video, click here.

Participants included: University of Michigan (Museumof Art, Exhibit Museum, Henry Ford Estate)

Performance Network Ann Arbor, MI

Purple Rose Theatre Company

Leslie Science and Nature Center

University Musical SocietyArts Alliance

I hope the Cultural Master Plan is successful. Just in case you want to contact a human, Linh Song is at lsong@new.org or 734 -998-0160 x217.

Kathy Toth & Team Closes Chelsea Short Sale Home with Satisfied Buyers and Sellers

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Tue, 11 Aug 2009 15:20:49 -0500

Kelley, the Seller praises Kathy Toth Team for executing the sale of her Chelsea Ridge home.

The house was listed last year and payments were being made until the seller moved to resume business in another city. The property was rented and when the tenant moved out, payments became impossible. We listed the house on 03/16/09 and had some buyers who decided to walk. Meanwhile, we got in touch with the loss mitigator at Countrywide. We got approval and the new buyer was able to close for full price at $175,000 on 8/3/09. Many sellers think it is better to just go to foreclosure. So I thought I would post the Homeowner Consequences of Foreclosure vs. Short Sale from the Certified Distressed Property Experts. Check out foreclosure-v-short-sale omeowner consequences. My hope is that Ann Arbor Area Sellers call us before the hardship even becomes evident. I am also posting the Michigan Foreclosure Timeline here.

MICHIGAN MORTGAGE FORECLOSURE TIMELINE

First Month Missed Payment: The first month that your payment is missed, your mortgage company is likely to contact you by mail and/or telephone to inform you of your delinquent status. A late charge is assessed on your missed payment.

Second Month Missed Payment: The second month that your payment is missed, your mortgage company is likely to begin calling the contact numbers that they have for you in order to discuss why you have not made a payment. It is important that you not avoid their telephone calls. Try to stay calm on the phone. Explain to them your situation, and what you are doing to resolve it. You still may be able to make one payment at this time to prevent yourself from falling three months delinquent.

Third Month Missed Payment: At this point, you are likely to receive a letter from the mortgage company stating the amount that you are delinquent and that you have 30 days to bring it current. This is called your “Demand Letter” or “Notice to Accelerate”. If you do not pay the specified amount or make some form of arrangement by the date given, they are allowed, at that time, to refer you to foreclosure or accelerate your mortgage. They are unlikely to accept less than the total amount due without prior arrangements. Foreclosure/Acceleration means that they forward your account to their Attorneys. You still have time to work something out with the mortgage company.

Fourth Month Missed Payment: Now you are typically nearing the end of the time allowed in your Demand Letter or Notice to Accelerate. If this expires and you have not paid the full amount, or worked out some arrangements, then you will be referred to their Attorneys. At this time, you incur all Attorney fees as part of your delinquency. The Attorney then schedules a “Sheriff’s Sale”, which is the actual date of foreclosure. The Sheriff’s Sale will be scheduled for approximately six weeks after the Attorney receives your file. You will be notified of this date by mail, along with a notice taped to your door. This is NOT a move-out date. The Attorney publishes a notice of foreclosure over four successive weeks in the local legal newspaper. After the first insertion on your property is published in the legal news, you have 4 weeks until the Sheriff’s Sale. Contact your lender NOW!

Sheriff’s Sale: You have up until the date of the Sheriff’s Sale to work out arrangements with the mortgage company or to pay the total amount owed (the reinstatement amount). At the Sheriff’s Sale, your house will be sold. An outside party may bid on your home. If no bids are received, the home goes back to the lender.

Redemption Period: If nothing is done to resolve the situation and the Sheriff’s Sale is completed, then you enter the Redemption period. The redemption period starts from the date of the Sheriff’s Sale. State law in Michigan requires that this period is no less than 30 days, and no more than one year. Most mortgages allow the homeowner six months to redeem the property with the lender/bidder, paying the amount owed plus interest and fees. If the property is over 3 acres, you may have a 12-month redemption period. You will be notified of your time frame on the same notice that states your Sheriff’s Sale date. This is still your time to reside in the home.

End of Redemption Period: If the homeowner has not redeemed the property, ownership is transferred to the lender or bidder. If the homeowner has not left, the new owner starts the eviction proceedings. An eviction hearing is held within two weeks, followed by a 10-day grace period for the former homeowner to vacate the premises. When the grace period ends, eviction is certified. Court bailiffs are notified, and they empty the premises. Any of your belongings remaining in the home are moved to the curb for disposal. The locks are changed, and you no longer may reside there.

If you know someone who is in this situation, be sure to have them hire an Ann Arbor Area Cerrified Distressed Property Expert. A Certified Distressed Property Expert® (CDPE) is a real estate professional with specific understanding of the complex issues confronting the real estate industry. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market.

Look for homes in Chelsea. If you are looking for foreclosure deals, click here.

Morgan and York Ann Arbor, MI

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Sat, 08 Aug 2009 09:57:56 -0500

Morgan and York is a fine community member - giving to local charities and welcoming newcomers to Ann Arbor, Michigan. See inside this business located at 1928 Packard. Anyone who has been here in Ann Arbor for more than a few years will remember the store as Big Ten. Try to visit them in person or visit their website www.morganandyork.com because they do ship; product information and ordering instructions are on their site.

You know Ann Arbor, Michigan is a fantastic place to live, play, and discover. Here is a great community find: Morgan & York sells the good stuff - fine wines, and premium quality breads, cheeses, meats and more, all within walking distance of the Ann Arbor Woods subdivision, and a stone's throw from the Burns Park neighborhood.

You'll find a friendly atmosphere and a deep commitment to quality. The owners worked together years ago at Ann Arbor's first coffee house, so you can bet they also serve up a super cup of coffee too.

For a look at the charities they support, look at fellow actve rain Welcome Wagon blog http://activerain.com/blogsview/715833/shopping-and-helping-local-organizations-at-the-same-time-

Related Link
For Other Ann Arbor Community Tours
Visit our website for many other virtual community tours

Click here to search all Ann Arbor area Michigan homes and condos with pictures and tours - FREE! Kathy Toth and Team www.KathyToth.com Keller Williams Realty Listen to this post ShareThis

What home prices are selling in Dexter, Michigan real estate?

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 05 Aug 2009 22:25:09 -0500

The Dexter Real Estate Market still shows an abundance of inventory. These charts show the difference between the number of homes listed in a price range and the number of sales in that price range. For all price brackets, there are more listings than sales in June. For July, the $600-650K had more sales, and the $1milion - $2million had equal listings and sales. That can happen because the house was under contract from a previous listing. See the charts for Dexter Real Estate June and July 2009 Price Distribution.

Both charts indicate that the segment of the market that is selling are those homes under $200,000. In July, and June, this lower end market accounts for a predominant market share. For more detail on Dexter Real Estate, we have and will be posting more Dexter Real Estate absorption data derived from the Ann Arbor Board of REALTORS®.

Click here to search all listings in Michigan with pictures and tours - FREE!

Click here to search all Ann Arbor area Michigan homes
and condos with pictures and tours - FREE!

Kathy Toth and Team

www.KathyToth.com

Keller Williams Realty

Ann Arbor Student Building Industry Program Completes 39th House!

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Wed, 05 Aug 2009 09:54:36 -0500

The Ann Arbor Student Building Industry Program is a fantastic chance for students to learn the construction trade and learn important skills to help with that “honey-do” list years down the line!

The program began as the dream of representatives of the school system, local businesses, and banking representatives. They believed that high school students could, with proper supervision and assistance, build a quality house.

The latest from the program is that their 39th home has been completed and is listed on the market! The 2008-09 student-built home was constructed at 2377 Earl Shaffer Court in Ann Arbor and is listed at $295,000. Proceeds from the sale will provide scholarships for students.

Builder Steve Lucchesi managed construction of the home, with teachers guiding the 29 participating students through the project. The home was intended as an efficient “not so big” home, at 2,300 square feet and incorporating several energy- and water-efficient features.

The program has been active in the construction of homes since 1971 - details of homes constructed can be views online on their website, along with pictures!

This is definitely a great program!

Kathy Toth and Team
www.KathyToth.com
Keller Williams Realty

What is happening in the Chelsea, Michigan Real Estate Market?

Kathy Toth Ann Arbor, MI Real Estate (Keller Williams Ann Arbor Market Center) — Mon, 03 Aug 2009 22:03:11 -0500

What is happening with the absorption rates for the Chelsea Real Estate market? Homes in Chelsea have gone from about 12 months of supply in January to 14 months in June. If no other Chelsea residential homes were put on the market, it would take 14 months to sell these homes.

	JAN	FEB	MAR	APRIL	MAY	JUNE
				CHELSEA
Listings	174	115	148	161	177	148
Under Contract	7	5	8	14	12	16
Sales Past 12 Months	171	123	110	99	190	123
Absorption Rate	14.25	10.25	9.17	8.25	15.8	10.3
Month's Supply	12.21	11.22	16.15	19.52	11.18	14.44

Chelsea Real Estate Market Data from 2006 to 2009 is graphed below:

Note the downward trend of Average Sale and Asking Prices in yellow and green respectively. See how the units sold have remained flat. The number of new listings have declined slightly.

Click here to find out more about Chelsea and to search for homes in Chelsea. We are selling homes here and in fact listed a home in Chelsea Ridge and got multiple offers. I have posted sold Chelsea, Michigan homes.

Kathy Toth