Foreclosure help

I attended a fantastic foreclosure prevention workshop on Wednesday. There was a panel of experts, including Catherine McClary, the Washtenaw County Treasurer, Tery Allon, Prevention Foreclosure Specialist at the Housing Bureau for Seniors and Rachael Holmes from Legal Services of South Central Michigan. Despite the fact that Washtenaw County has been hard hit with foreclosures this past year, I left feeling grateful for these women and their hard work and the fact that there would have been many more foreclosures if it weren't for them and others like them. If you are facing problems paying your mortgage each month or if you are behind in paying your property taxes, get help! I was surprised to learn (in a previous training, actually) that more than 50% of people who lose their homes never even speak with their lender. Avoidance and denial can be powerful defense mechanisms, I understand, but they don't save your home! Many banks are willing to work out plans to avoid foreclosure. Loan modification is one example. This might entail the bank agreeing to change the terms of your loan, including your interest rate. Remember, it is in their best interest to save your home too. Housing Specialists at the Treasurer's office are happy to give you advice on these issues. The phone # is 734-222-6000. Maybe the most remarkable thing I heard at the workshop was that Catherine McClary has never had to do a tax foreclosure on a home that is still occupied. She has achieved this by doing everything in her power to reach the owners and work out a plan. I will certainly vote for her to be re-elected in November! The Ann Arbor Observer also just ran an article about foreclosures in their March addition which is very informative. If you are in trouble, don't hesitate to get help!

Orchard Place Condominiums

When I first began this blog I promised that I would occasionally feature different neighborhoods in the Ann Arbor area. I just recently got this beautiful home (above) under contract. Orchard Place Condominiums are site condos, which means that they are free standing homes that have an association fee each month/ year for maintenance of common areas. This subdivision was built in the 1990's so these contemporary homes are much newer than surrounding ones. This is not a "cookie cutter" neighborhood. In fact, the homes vary quite a bit from each other. There are traditional colonials (with a contemporary flair) and there are homes with very open floor plans. The people that live in this sub love it. It is on the north side of town and includes part of Brookside Drive and all of Tibbitt's Court. Tibbitt's Court backs up to Black Pond Woods, which is a gorgeous place to walk any time of year. I walk my pup, Maggie, in these woods almost every day. On the other side of the woods lies Leslie Science Center, which is a wonderful place for kids. They host all sorts of programs for children to learn about nature and environmental science. My son has attended numerous day camps there. They even have raptors! The schools for this subdivision are Northside elementary (only a short walk), Clague and the high school that will open this fall, Skyline. There are plenty of kids in this neighborhood. The north side of Ann Arbor is very close to the UM campus and even closer to the UM hospital. Many people in this area also walk or bike to their jobs downtown. The Huron River is very close by and offers wonderful recreational opportunites, including canoeing, kayaking and hiking on trails along its banks. There is even a crew club if you want to learn to row!

Plum Market opens!

After much waiting, Plum Market finally opened recently in Ann Arbor. It is a quality food mart dedicated to selling natural, organic and local products. I love that Ann Arbor can support so many of these types of businesses. I love that the people here put thought into how they spend their money and the implications of their choices. The market is great! When you first walk in you are greeted by stacks of Zingerman's delicious pies at a ridiculously low price to entice you. I highly recommend the pecan pie. There is also a Zingerman's coffee shop in the building. Quite the bonus! During my first trip to the store, it was packed with people since it was opening day. The second time I went it was a little easier to take some time to really browse. Oh, and I didn't have my 9 year old son with me either! I would highly recommend checking it out. If you'd like to take a look at the web site first, go to http://www.plummarket.com .

Property assessments should be in your mail box soon!

As we have heard over and over again, property values have declined over the past couple of years. Almost every city and township in Washtenaw county shows a decline over the past year. Ann Arbor reports a drop of 4.9% from 2007 to 2008. Ypsilanti has had a steeper decline at 8.1%. Ann Arbor Township is showing the greatest decrease at 12.9%. You might wonder how this will impact your taxes. The answer is...it depends. The Ann Arbor News published a very informative article about this issue on 2/17/08: http://blog.mlive.com/ann_arbor_news_extra/2008/02/drop_in_assessments_but_not_ne.html
Clients often ask what they can do if they receive an assessment that they do not believe accurately reflects the value of their home. You have the right to appeal these assessments, but in order to have any hope of success you must have the proper documentation. If you worked with a Buyer's Agent when you bought your home, s/he may be able to help you. You will need evidence that the comparable homes in your neighborhood that have sold support your claim. If you have a relationship with a REALTOR, contact him or her for an opinion of your situation. It is not only the comps that matter, but the interpretation of those comps. This is a service that I happily provide for all my clients.

Buyer Agency

Do you know what Buyer Agency means and why, as a buyer, you should have a Buyer's Agent? By law, if you have an agent show you a home and you do not have a signed Buyer Agency contract with her/ him, that agent works for the seller. In order to know, without a doubt, that your agent's job is to represent you, not the seller, sign a contract! It also puts you higher on that agent's priority list. When a client commits to me, I am completely committed to the client. It does not obligate a person to buy a home, but if spells out a relationship between potential buyer and agent. I know a lot of people are hesitant to sign documents for a whole host of reasons. Which is why I offer an unconditional guarantee to my clients. It states that, if you are not fully satisfied with my services, I am happy to let you out of your contract. I have never had anyone decide to back out of a contract, because I take good care of my clients! Whether you are a first time home buyer or you've bought and sold several homes, it is good to have a guide through the process. Someone who is up-to-date on current market trends. Someone who will negotiate and get you the best deal possible. It is a great time to buy a home. There are many houses to choose from, the prices are lower than they have been in many years and the interest rates are still low. A home is one of the best investments a person can make.

Clarification

One of my poor, misguided colleagues decided, mistakenly, that when I wrote "Go Green!" in my last post that I was somehow endorsing Michigan State University. Let me be quite clear: that will NEVER happen! I am a University of Michigan gal through and through, having grown up in Ann Arbor and having reeceived both my BA and my MSW from Michigan. But I can hardly blame Linda. She is so terribly outnumbered in this maize and blue town. Maybe next time I better be more careful. Go Earth! Go environment! Go blue!

Go Green!

I am very proud to be a part of Trillium Real Estate. We are a small, local, family-owned real estate company in Ann Arbor, Michigan. We have earned the Waste Knot Award many years in a row due to our efforts to recycle. We now have another environmental achievement to be proud of! We have partnered with Living Space Builders, a company that builds "green", environmentally friendly homes. What is most amazing is that these homes can be built for a very reasonable price! Here are some of the features: geo thermal heating and cooling, 2x6 framing, insulated basement floors, partial living roof, energy star windows and more! Not to mention the regular amenities that one expects with new construction these days. Check out their Web site for further information. http://www.livingspacebuilders.com Go Green!

New listing!

I have a new listing at 7532 Dell Rd in Lodi Township. It has a Saline mailing address and is only 15 minutes from Ann Arbor. This is a well-maintained home built in 1990 and it sits on 2.5 acres. The real treat is that the back yard (1+ acre) is completely fenced and ready for your children and dogs. In fact, if you'd like them, four 6x8 outdoor dog runs are included in the sale of the home. To learn more, please check out my Web site at http://a2homegrown.com/ . Or call me at 734-678-7947.

Feds cut interest rates AGAIN!

The feds cut interest rates again last week, the fifth straight cut since September 2007. Many are confused about what this means to them. I think some assume that this means that mortgage interest rates will automatically fall, and it doesn't mean that. We are currently seeing the lowest rates we've seen in many years. These interest rates may actually go up, based on recent trends and historical performance. So, if you are waiting to buy a home until the rates get even better, WAIT NO MORE! Lock in a rate now, if you can. THIS IS A GREAT TIME TO BUY A HOME! Here in Ann Arbor, it is a Buyer's market. The prices are terrific (in addition to the interest rates) and there are lots of homes to choose from. Back to the fed cut... if you have a loan that's directly tied to the Prime rate, this could be good news for your interest rate. Home Eqity lines of credit and variable rate credit cards are often examples of these types of loans. Ann Arbor real estate has not been this good to buyers in a very long time. Take advantage of it now!