We have moved into our new temporary office!

As we patiently wait for our wonderful new office space to be done (323 Braun Court), we have moved into the second floor of the house next door (325 Braun Court). Other than the address, all of my contact information remains the same. I'll keep you posted and let you know when you can drop in and see us at our new office!

Amazingly, some GOOD economic news!

Rumor has it that the University of Michigan plans to buy the Pfizer site on the north side of Ann Arbor! The formal announcement has not yet been made, but it is said that they expect to bring 2000 new jobs to the area over the next ten years. Fantastic!

Happy REALTOR designation month!

The National Association of REALTORS has named November REALTOR designation month. In addition to enjoying learning, I also feel that continuing education helps me to best serve my clients. Real estate is a field in which there is always more to learn. The first designation that I earned is ABR (Accredited Buyer Representative) and the second is e-pro (a course that teaches how to use technology to better serve your clients). This month, to celebrate REALTOR designation month, I plan to fulfill the requirements for the At Home with Diversity designation. I am excited about this course! Ann Arbor's diversity is one of the things that I love most about this town and I want to make sure that I have the knowledge to be helpful to all people.

Downtown Ann Arbor celebrates Halloween!

On Halloween the downtown Ann Arbor library will have storytellers from 9:30 am- 10 am and again from10:30-11 am. From there, children are encouraged to join the treat parade downtown. Many Ann Arbor merchants are prepared and happy to pass out candy to children in costume between 11 am and 5 pm. It is a sight to behold, so even if you don't have kids, it's worth a trip downtown to have a look. For participating stores, see the Main Street Association's web site at http://www.mainstreetannarbor.org/newsdetail.asp?id=45 . And have a Happy Halloween!

10 ways to cut energy bills this fall

The Ann Arbor Area Board of Realtors just sent out this information and I thought it was well worth passing along....

When the leaves start falling, you know that the heating bills are about to start rising. But keeping your home warm and cozy on chilly autumn nights doesn't have to break the bank.The U.S. Department of Energy offers these simple tips and relatively inexpensive home improvements that will help ensure cold gusts stay out and your furnace doesn't have to work harder than it should.The goal: Conserve energy and keep more of your hard-earned dollars in your pocket.Share these ideas with customers and use them for your own house. After all, who doesn't need to save a little money these days?1. Plug air leaks with caulking, sealing, or weather stripping. Save 10 percent ($190 per year) or more on energy bills. Focus on windows, doors, outlets or switch plates on exterior walls.2. Properly maintain the heating system. Heating accounts for half the average family's energy bill (approximately $950 per year). Make sure the furnace or heat pump receives professional maintenance each year. The small cost (about $75-100 for most service calls) will pay back in better performance all year long.3. Install a programmable thermostat. Programming the thermostat from 72ºF to 65ºF for eight hours a day while no one is home, or everyone is tucked in bed, will cut the heating bill up to 10 percent ($90 per year), paying for a basic unit in less than a year.4. Seal and insulate heating ducts. A system can lose up to 60 percent of its warmed air before it reaches the register (wasting $570 in warmed air per year) if ducts are not properly insulated in unheated areas such as attics and crawlspaces.5. Insulate, insulate, insulate. Adequate insulation in the attic, ceilings, exterior and basement walls, floors, and crawlspaces can save up to 30 percent on home energy bills ($630 per year). Focus on the attic. (Heat rises.) Most homes should have between R-30 and R-49 insulation in the attic. Learn more at www.eere.energy.gov/consumer. 6. Close fireplace dampers when not in use. When in use, reduce heat loss by opening dampers in the bottom of the firebox (if provided) or open the nearest window about an inch, close doors to the room, and lower thermostat setting to 50-55ºF.7. Let the sun shine in. Open curtains on south facing windows during the day to allow sunlight to naturally heat the home, and close them at night to reduce the chill from cold windows.8. Stay out of hot water. Water heating accounts for 15 percent of household energy use. Reduce water heating costs by lowering the water heater’s thermostat setting. Each 10ºF reduction can save between 3-5 percent in energy costs. Also insulate the hot water heater and hot water pipes.9. Install storm windows over single-pane windows or replace them with Energy Star qualified windows. Storm windows reduce heat loss by 25 to 50 percent, and storm windows with low-e coating that reflect heat back into the room during the winter months save even more energy. Look for the Energy Star label to maximize savings. Energy Star qualified windows reduce heating and cooling bills by an average of $345, but could be higher in cold and hot climates, compared with uncoated, single-pane windows. Can’t afford new windows just now? Tape clear plastic sheeting to the inside of window frames if drafts, water condensation, or frost are present.10. Net big savings with a little label. When replacing appliances, light bulbs, electronics, or heating and cooling systems, cut energy bills by up to 30 percent ($600 per year) with Energy Star labeled products. Use compact fluorescent light bulbs (CFLs) in place of comparable incandescent bulbs. Find retailers at www.energystar.gov.These and other improvements that impact the energy efficiency of a home can save home owners money in the short term and serve as a selling point to potential buyers later. Be sure to save receipts, documentation, and manufacturer’s information.Not sure where to begin? Try the Department of Energy's online energy audit tool at www.hes.lbl.gov. In the long run, a whole-house energy audit is a fool proof way to make a plan to address wasted energy and make a home operate efficiently for years to come. Visit www.natresnet.org to find a qualified auditor in your neck of the woods.

It's official! Trillium Real Estate is moving!

Trillium Real Estate's Future Home!

It's official! We are moving to the absolute best place in town: Kerrytown! Trillium is purchasing this beautiful home on Braun Court. Braun Court is a lovely pedestrian area, just off Fourth Avenue. Farmer's Market and Kerrytown shops are just across the street and Zingerman's is barely a hop, skip and a jump away. I am very excited. We plan to move between Christmas and New Year's to minimize disruption to our business. Please come take a peek and visit us in late December! We welcome walk-ins from old friends and new ones.

I am now an e-pro!

I would like to share with you my excitement about just having received my second real estate certification. In addition to being a REALTOR, I obtained my ABR (Accredited Buyer Representative) certification in 2006. This year I achieved my goal of becoming an e-pro. What is an e-pro, you ask?
In e-pro's own words:
The REALTOR e-PROÒ certification course is an educational program unlike any other professional certification or designation course available, comprehensive and interactive. It is specifically designed to provide real estate professionals with the technology tools needed to assist consumers in the purchase or sale of a home.

With more than 70% of consumers beginning their real estate research on the Internet, e-PRO certified agents have the experience and expertise to meet the demands of today’s buyer and seller.

The real estate industry has undergone a fundamental change over the past several years. A majority of consumers are taking the time to conduct their own research prior to contacting an agent. In turn, real estate professionals must be knowledgeable of how technology can assist them in serving the needs of the buying and selling public.

The exclusive REALTOR e-PROÒ certification course is presented entirely online and certifies real estate agents and brokers as Internet professionals. Because of its innovative design, students are able to complete the course at their own pace, when and where they want, via any Internet connection. The course is designed to help REALTORSÒ stay at the leading edge of technology and identify, evaluate and implement new Internet business models.

Once completed, the e-PRO certified real estate professional joins the ranks of a special community of highly skilled and continuously trained professionals who provide high quality and innovative online-based real estate services. Consumers can identify the e-PRO through the exclusive e-PRO Internet Professional logo.

Both the content and the delivery platform were created by San Diego-based technology company InternetCrusade®. The course instructs participants in the professional use of e-mail, the development of an interactive Web site, and the use of online research tools. Graduates use the skills they've acquired to provide clients information on properties for sale, local communities, and the local real estate market.

I'm thrilled to have gained this certification and I think I have a lot to offer as a result of, not only this certification, but my ongoing commitment to continue to learn and grow.

The "Big House on a beautiful day

After not having attended a University of Michigan football game for more than 20 years, I took my son to the game on Saturday. It was a gorgeous 75 degrees and sunny. What a wild time! It just so happened that we ended up two rows directly in front of "Superfan" (above left). This picture captures him taking a break, but most of the game he was enthusiastically beating on his cow bell and firing up the crowd. Thankfully we had had enough fun and left while the score was still tied 10-10. We listened to our team lose on the radio on the way home, but not before stopping at Dairy Queen for our last visit of the season. We are enjoying another lovely day today...Ann Arbor is simply gorgeous this time of year, despite having lost to Toledo on Saturday.

Open House, 10/5, 1-3 pm 2111 Delafield in Ann Arbor

Come see me tomorrow at this lovely home! The original 2 bedroom has become a sprawling 3 bedroom ranch w/open floor plan & plentiful common space. The result is a lovely mix of original, unique features along w/additions w/high ceilings. Unique features include real oak parquet, tongue & groove redwood paneling, sunroom w/slate floor, & charming built-ins. Family room overlooks the large, private yard. Master suite, 1st floor laundry & slopes instead of steps make this home largely handicap accessible or easily modified.

Time is of the essence!

As always in real estate, time is of the essence! Not only are prices at rock bottom, but the interest rates are great! If that's not enough to persuade you to buy your first home, how about this...the federal government is offering a $7500 tax credit for first time homebuyers. Don't dawdle...you have until July 1, 2009 to take advantage of this terrific deal. For more info go to http://www.federalhousingtaxcredit.com/ .

End-of-the-year dog swim

Those of you who know me know that I love to have fun, I love dogs and I love all of the quirky activities that are available in Ann Arbor. The end-of-the-year dog swim at Buhr Pool satisfies all of these criteria! This is the first time that I joined in the fun. My son and I took our one year old golden retriever, Maggie, who had a blast! She was a bit hesitant at first, but there is nothing that can stop her from a tennis ball. By the end of the session she was diving willingly and gracefully. The pure joy of 30 dogs together with balls and water is beyond description. I will definitely make this an annual tradition!

One of my favorite local businesses

I like to support local businesses whenever I can. One of my favorites is Zingerman's Deli. It's so much more than a deli. In fact, I don't remember the last time I bought a sandwich there. Not that the sandwiches aren't divine...I often stop and get my morning latte or cappuccino. Try a little dulce de leche (Mexican caramel) in yours sometime! They also make fabulous breads and sell wonderful cheeses from all over the world. I grew up in Ann Arbor and yet I can't really remember a time that Zingerman's didn't exist. I can't for the life of me picture what was there before they opened. Kerrytown and the Farmer's Market are right across the street and I frequent those places often too (but that's a separate entry). Customer service is at the top of the priority list at Zingerman's, in addition to great food. I also like that they contribute to the community in so many different ways. The owners started a non-profit organization called Food Gatherers whose goal is to feed the hungry in Washtenaw County. Their annual fundraiser, called "Grillin'", is a lot of fun for a very worthy cause. We are fortunate in Ann Arbor to have so many wonderful local businesses!

Great news for Ann Arbor!

The AARP just published a study that they did about the healthiest cities for seniors. They used 20 measures of vitality. They looked at the physical aspects of the communities, as well as the health and habits of their residents and determined that Ann Arbor is the best U.S. city for seniors! There are also so many things to do in this town to keep people happy. I think it's a great city for people of all ages, and I appreciate the nod of recognition from AARP. Here's the link to the article if you'd like to read more.

http://www.aarpmagazine.org/lifestyle/healthiest_hometowns.html

Townie Party

One of the things that I love about Ann Arbor is that there are always plenty of things to do. Actually, in the summer, it seems there are TOO MANY things to do! I sometimes lament that I don't have more time to spend on my deck, relaxing, in the summer...but it's because there are so many events that are irresistible. Last night was the annual "Townie Party", which is scheduled the Monday before the Art Fair begins. It's sort of a last hurrah before we are deluged with out-of-towners. A stage is set up on a downtown street and several bands played for us. It was a beautiful evening to hang out on a blanket and listen to music. There were also many ways for children to be entertained. My son began by collecting all of the free stuff. Two frisbees were among the goodies, so we proceeded to play frisbee in front of Hill Auditorium. There were also arts and crafts choices, and of course, balloons. Now the artists are busy getting their booths set up for opening day tomorrow. If you are an Annarborite, most likely you either love or hate Art Fair. We often hear "It's not art, and it's not fair!" I am in the love it camp. It's always exciting to see people rolling in and to check out the art (and people!). The thermometer inevitably climbs to 90 degrees or more for the 4 days of the fair and thunderstorms make it all the more thrilling. I hope to see you all there!

Market Statistics

The Ann Arbor Area Board of Realtors recently released the market stats for June. The good news for sellers is that the number of listings are down 28% from this time last year. The good news for buyers is that home and condo prices are now as low as they were in 2000. So, it is still an excellent time to buy a home! Interest rates have gone up slightly in recent weeks. but they are still very good. If you have been waiting for the "perfect" time to buy, I would have to say that you should not wait any longer! We continue to see some serious competition for certain listings, with multiple offers above list price, but even in those situations buyers are getting good deals. If you haven't yet, choose a realtor who is an expert in the area in which you'd like to buy and get started. Contact me today for a consultation!

Urbal fowl

So, you've always wanted chickens, but you want to live close enough to walk or ride your bike to work? Now you can have both! Ann Arbor City Council passed a resolution on Monday night which allows A2 residents to keep up to four hens in the city. This is what I love about Ann Arbor! We're down to earth, and a little bit goofy, but usually trying to do the right thing. I'm sure that there are many people excited at the thought of having fresh eggs every morning. Me? I'm holding out for an alpaca.

Spring market is here!

Whew! I've been meaning to find some time to blog, but things have been absolutely NUTS around here. In a good way! Don't let anyone tell you that the real estate market is bad here in Ann Arbor! For the first time in a long time we are occasionally seeing multiple offer situations and homes are coming under contract when a client is pondering whether to make an offer. So, when you find a home you like, don't assume that you have forever to consider it. Make an offer! It is still a buyer's market, for sure, but it is certainly improving for sellers. We have definitely hit bottom and are inching our way up. If you are considering selling your home, don't put it off. I have clients who are ready and willing to buy, but can't find the right home. Maybe yours is the one!

Sandi Smith announces candidacy for Ann Arbor City Council!

My Broker just announced that she will run for City Council. I couldn't be more pleased! Here's the press release:

COMMUNITY ACTIVIST AND LOCAL BUSINESS OWNER WILL RUN FOR 1ST WARD SEAT
Democrat Sandi Smith has announced her candidacy for the Ann Arbor City Council in the 1st Ward, which covers much of downtown, as well as northern and northwestern Ann Arbor. Smith is challenging Councilmember Ron Suarez in the August Democratic Primary.
“The 1st Ward needs effective leadership that will strive to sustain what’s so great about Ann Arbor,” said Smith. “We need strong local businesses. We need to sustain our neighborhoods, our environment and our community.”
Smith cited several issues she will address as the 1st Ward’s Councilmember, including encouraging sustainable development to keep the downtown vibrant, promoting historic preservation to enhance 1st Ward neighborhoods, and a responsible City budget that emphasizes core services.
Smith, a 27-year resident of the Ann Arbor area, has a long record of community service, including:
• Ann Arbor Area Board of Realtors governing Board of Directors (1996-1999)• Downtown Development Authority (2004-present; Chair, 2006-2007);• Washtenaw Rainbow Action Project Board of Directors (1996-2000);• Greenway Taskforce Member (2005-2006)• Community Security & Public Space Task Force (2006)• Task Force on Sustainable Revenue for Affordable Housing (current)
Smith has already been endorsed by leaders throughout the Ann Arbor community. "Sandi's commitment to the city is well demonstrated through her involvement on city boards and task forces. This experience will be a huge asset to the city and residents in the 1st Ward and will enable her to hit the ground running upon taking office this fall. I'm honored to be serving as treasurer of her campaign." said Jennifer Hall, vice-chair of the DDA board and Greenbelt Advisory Commission and 1st Ward resident.
“I’m proud to support Sandi for City Council,” said Keith Orr, co-owner of the Aut Bar in Kerrytown who, along with his partner, Martin Contreras, has endorsed Smith. “She will turn progressive values into action and be a Councilmember of whom we can be proud.”
Leah Gunn, Washtenaw County Commissioner and DDA Board Member, had this to say about Sandi: "I have worked closely with Sandi Smith on the Board of the Ann Arbor DDA, and I find her to be a thoughtful, conscientious and astute person. She knows how to get along with a variety of people, working to arrive at consensus with complex issues. I believe that these qualities would serve her well on City Council."
"As a 1st Ward resident, I know firsthand Sandi's commitment to progressive action and her strong work ethic. She will make an outstanding Councilmember" said Phillis Englebert, 1st Ward resident, community activist, and author.
Smith and her partner, Linda Lombardini, live near downtown Ann Arbor. Together, they own and manage Trillium Real Estate. Smith was named the 2007-2008 Realtor of the Year by the Ann Arbor Area Board of Realtors.
“I believe my experience as a small business owner and a community activist with a record of progressive accomplishments makes me uniquely qualified to best serve the 1st Ward,” said Smith.
Smith plans an aggressive grassroots campaign.
“People make Ann Arbor special, so my campaign will focus on talking with and listening to the people of the 1st Ward.

For more info, please see her web site at http://annarborites.com .

New listing!

This is a wonderful 4 bedroom, 2 1/2 bath colonial! It's located on a cul-de-sac in a quiet subdivision with great highway access. Ann Arbor schools and low Pittsfield township taxes. It is ready for you to move in and is priced to sell at $224,900!

Do you want to buy a house but you don't have money for a down payment?

You may qualify for help! I attended a great training today, given by Washtenaw Housing Education Partners. I learned about many programs that may be able to help you buy a home in the Ann Arbor area. I am now certified to help people buy a home through these programs, including Washtenaw County IDA Savings Match, MSHDA Down Payment Assistance, American Dream Down Payment Initiative (ADDI), Ann Arbor Down Payment Assistance Program, USDA Rural Development Program and more. These are great programs that just may help your dream of homeownership come true! Feel free to contact me for further information.

March real estate market data

The Ann Arbor Area Board of REALTORS released the market statistics for March. The stats show that the market in Washtenaw County is stabilizing. The average list and sale prices are almost identical to March 2007. One of the most striking factors reported is that the number of listings has decreased from 1621 (3/07) to 1207 (3/08). This is excellent news for people trying to sell their homes. According to the National Association of REALTORS, "Little change is expected in existing-home sales over the next few months, before improving notably during the second half of the year." I am excited about the improved outlook for my profession and for my clients!

Are you considering buying a house that has non-homestead taxes?

There are many homes for sale that are currently vacant. That often means that the sellers have already purchased another home. If that is the case, then it is likely that the taxes on the house for sale are non-homestead. Non-homesteaded property is taxed at a much higher rate than homes that are homesteaded (used as a primary residence). If you are considering buying one of these homes, rest assured, the taxes will be converted to homestead if you plan to use it as your primary residence. However, you may have to pay them for a while. The deadline for conversion from non-homestead to homestead for summer taxes is May 1st. If you want to avoid paying those extra taxes, write up that sales agreement now and ask for a close date of May1st or sooner!

Arbor Day Celebration!

April 25 11:00am to 2:00pm
Trillium Real Estate and Living Space Builders First Annual Arbor Day Celebration at Bandemer Park!
In celebration of Arbor Day, Trillium and Living Space will be planting 100 trees in Bandemer Park, with the help of the Adopt a Park program at the City of Ann Arbor. The trees will counter the environmental impact of our businesses on the Earth. They will also act as a carbon offset and be a biomass replacement for the lumber used in building new homes. Come and help - all are welcome! Snacks provided.

Great new legislation!

Governor Granholm signed House Bill 4215 (now Act 96 of 2008) yesterday. This will be a huge relief for a certain segment of homeowners who have had to move elsewhere in the state, but have been unable to sell their first house. The owners will be allowed to maintain their principal resident status (and thus pay much more reasonable property taxes) for three years on both homes if the following criteria are met:

*the property is not occupied,
*the property is for sale
*the property is not leased or available for lease
*the property is not used for any business or commercial purpose

With the current economy and the many people struggling to avoid foreclosure, this is very good news.

April Fools!

Ann Arbor has a great new tradition to celebrate April Fools. It is called Festifools and it is a wonderful collaboration of artists and volunteers that come together to create art for everyone to enjoy. It culminated yesterday, in the form of a parade of large papier-mache puppets who marched and danced on Main Street. It was a lovely day and there was quite a crowd there to enjoy the festivities. This was the second annual Festifools celebration and, judging by the positive reviews (i.e. smiles in the crowd), I am certain that this is a tradition that will last. My favorite puppet was a beautiful woman playing the cello (or is she the cello?!). My nine year old son LOVED the hot dog with the pig's head. (Must have been a vegetarian that created that one, eh?) It is always a pleasure to attend events downtown for which the streets are closed. We should do this more often! Check out the web site at http://festifools.org/

Do you want to know what your home is worth?

Did you know that Realtor.com now has a feature that helps provide you, the homeowner, with valuable information about your home's value? Go to www.Realtor.com and, in the middle of the home page, look for "What's your home worth?". Type in your address and you will be shown the homes that have recently sold in your neighborhood. If you take the next step, you will receive, by e-mail, a customized report. This will include solds and actives in your area, as well as lots of other helpful data, i.e. average sale to list price, days on the market, etc. This report will often give you a decent snapshot of what the real estate scene is like around your home. The next step would be to have a REALTOR come to your home and provide you with a Comparative Market Analysis. This is a detailed report, taking into account the specifics of your home, as well as the homes that have sold and those that are on the market, that should give you a good idea what your home will sell for in today's market. I provide this service free of charge. If you are not quite ready for this last step, at least check out the service on www.Realtor.com . If you live in the zip codes of either 48105 or 48108, this service will be provided to you at no charge, courtesy of me! And, as always, please feel free to contact me with any questions.

Ann Arbor breaks all-time snow record!

The official start of spring doesn't really mean much in these parts! We technically celebrated the equinox last Thursday and then on Friday the white stuff started coming down again. We had a total of 7.5 inches by Saturday morning. I was rooting for a fair amount since we were so close to the record. If you are considering moving to Ann Arbor, don't let this scare you. This winter was actually quite pleasant. In my book, snow on the ground certainly beats gray/ brown wherever you look! The above image shows Black Pond Woods after one of our many snow storms this year. Pretty, huh? But, to be quite honest, I think now it's time to move on. After all, opening day is next Monday. Definitely time for spring. Go Tigers!

"Orangeburg" sewer piping

If you are planning on purchasing a home built between the early 1950s to the early 1970s, orangeburg piping is something you should learn about. Orangeburg is actually a brand name. It is the name of the company (and the town in which it was made) that manufactured bituminous fiber pipe. This type of piping has been found, in some cases, to deteriorate much faster than other types of sewer pipes. There are some neighborhoods in Ann Arbor in which this pipe is found frequently, for example the "Airy" built homes in the Wuerth subdivision off Stadium, near Pioneer High School. These are lovely brick ranches, but if you are planning on buying one, make sure that the sewer pipe from the house to the street has already been replaced. Many realtors identify this issue with particular neighborhoods and, while this is accurate in some respects, the real issue is the time period in which the home was built and whether or not that particular builder used this type of piping. If the seller does not know whether the home has orangeburg or whether it has been replaced, it is advisable to have an inspection done to determine whether this may become a problem in the future. This is not something that can be determined in a regular contractor's inspection. This particular inspection entails a company inserting a camera into the pipes to have a look. The cost is several hundred dollars, but it is several thousand dollars if your pipes are deteriorated and need replacing. The City of Ann Arbor has a very handy list of homes that have had sewer work done and what type of work it was. This can be helpful in making the decision whether it is worth spending money on the inspection, but I think I would advocate "better safe than sorry". You can have a look at this list here: http://www.a2gov.org/government/communityservices/planninganddevelopment/building/Documents/orangeburg%20list.pdf Happy House Hunting!

Computing your taxes and interpreting your property assessment

If you own a home in Ann Arbor you probably received your updated property assessment in the mail yesterday. (Homeowners in Ypsilanti received theirs earlier this week.) A client that I helped buy a home last year asked me to help interpret hers, and it occurred to me that it is a great time for a little tax tutorial. Let's say, for simplicity's sake, that last year you bought a home for $200,000. When you opened your envelope yesterday you learned that your new SEV (State Equalized Value) and Taxable Value are $100,000. Often these amounts are valued at approximately half the purchase price the year following the transfer of ownership, however, this is not always the case. It depends on your overall neighborhood market data. The State Equalized Value is thought to be half the market value of your home and adjusts yearly based on neighborhood sales. The Taxable Value, as a result of Proposal A, is capped at 5% per year or the rate of inflation, whichever is higher. This is why these two values are more different the longer one has owned their home. It is very important when you are preparing to buy a home that you are informed not about what the taxes are now, but what they will be when you buy the home. If the current sellers have owned the home for a long time it is likely that the taxes will go up quite a bit. Don't get into a situation in which you will be surprised when you get your first bill. Here's how you calculate your taxes: Take the Taxable Value (or if you are buying a home you can use 1/2 the list or purchase price to give you a rough idea) and multiply it by the tax mills in the community where the home is. Ann Arbor's 2007 tax rate, for example, is 46.0373 mills. In the example above, the home was purchased for $200,000. The Taxable Value will be approximatley half of that: $100,000, multiplied by .0460373. Your taxes will be approximately $4603.73 per year. Happy computing!

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!

Good news for Ann Arbor

Happy New Year! I need to make a resolution to blog more frequently!

I saw this encouraging article in the Detroit Free Press. Since the media continues to paint mostly doom and gloom, it's refreshing to see something optimistic. Here it is! Make sure you make it down to the good news in green!

January 21, 2008
BY KATHERINE YUNG
FREE PRESS BUSINESS WRITER
Part of an occasional series on Michigan's journey to economic change.
Nearly a year after Pfizer Inc. announced the shutdown of its massive Ann Arbor research campus -- a move that Gov. Jennifer Granholm called a "punch in the gut" -- a surprising turn of events has occurred amid the misfortune and uncertainty.
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Economic development officials have already offset the lost jobs with new ones to be added over the next 18 to 24 months.
Some of the 2,100 ex-Pfizer workers chose to stay in the area and are taking the entrepreneurial route, forming start-up companies or joining small firms.
And despite their lack of experience handling a sudden economic crisis, community and business leaders came together like never before to respond.
An affluent community of 113,206, Ann Arbor has learned a valuable lesson the past 12 months: No longer can it afford to be complacent about its economic prospects.
"We are no different from the rest of the state," said Michael Finney, president of Ann Arbor SPARK, the area's economic development group. "We have to be very proactive."
This kind of attitude speaks volumes about the types of changes taking place in Michigan as its economy adjusts to the challenges of a rapidly globalizing world. What's happened in Ann Arbor over the last year shows that it's possible to overcome some of the negative effects of economic forces that governments and communities can't control.
While factory closings have become commonplace, it's rare to see longtime research and development centers get the ax. The news on Jan. 22, 2007, that hundreds of scientists, researchers and other professional and technical workers would no longer have jobs rocked this college town.
Nobody saw it coming.
"We used to be able to say, 'We've got the University of Michigan and Pfizer.' You can't say that anymore," said Jim Carey, a realty agent at University GMAC Real Estate and the president of the Ann Arbor Area Board of Realtors.
Of the 2,100 Pfizer employees, 850 accepted offers to move to other Pfizer locations. Only 35 to 40 of these people landed new jobs at the company's remaining Michigan operations in Kalamazoo.
How many of the rest of the workers stayed in Michigan remains unclear. Feelings of bitterness still linger as evidenced by an anti-Pfizer video making the rounds among ex-employees.
But to a large degree, the worry and fear sparked by Pfizer's pullout has given way to a kind of cautious optimism that things won't turn out as badly as feared.
'I'm really hopeful'
A year later, the job fairs have ended and the number of online resume postings has dwindled. Though some ex-Pfizer workers are still searching for work, many have found new employment.
Even the businesses on Plymouth Road near the drug giant's campus have learned how to survive the turmoil. Though the Holiday Inn fills fewer rooms these days, the hotel has been able to charge higher rates to offset the decline.
At Crown House of Gifts, foot traffic is slower at noon and at the end of the workday, but sales haven't dropped thanks in part to the addition of new merchandise.
"I'm really hopeful," said manager Margaret Leftridge.
To be sure, there have been problems.
The large number of job transfers depressed what was already a weakening market for home sales. Pfizer offered generous moving allowances so people could afford to sell their houses at a loss.
Last year, the average sale price for a home in the area fell 3.3% to $250,286. And the number of homes and condominiums sold tumbled 9.4%, according to the Ann Arbor Area Board of Realtors.
Local charities have also felt the reverberations.
They are bracing for lean times since Pfizer and its employees regularly donated hundreds of thousands of dollars, not to mention untold hours of volunteer work.
"If I think about the impact, it makes me crazy so I try not to think about it," said Sandy Rupp, president of the United Way of Washtenaw County, which overhauled its operations to cope with the situation. "Pfizer was like an anchor to the community."
'You can't look back'
The city is still anxiously waiting to see what happens to the pharmaceutical company's 177-acre campus, which is about the size of its downtown. The complex will remain open through the end of the year and currently employs 350 workers, most of them scientists.
Pfizer hired the Staubach Co. to sell the 2-million-square-foot site. It's launched a global marketing campaign using the Internet, direct mail and telephone calls.
"Requests for information about the site have run the gamut, from leasing to buying all or part" of it, said Pfizer spokesman Richard Chambers. "It's too soon to say whether any of these might pan out."
Despite the uncertainty, Ann Arbor has fared better than many less economically diverse cities in similar straits. Its November unemployment rate of 4.7% is up slightly from a year ago but remains the lowest in the state.
The city expects new cost-saving efficiencies in its operations to offset lost tax revenues this year of $500,000 to $1 million dollars, said Mayor John Hieftje.
"We certainly felt it, but it hasn't turned out to be the worst case that we envisioned," he said.
And while Pfizer moves out, other companies are coming in, though on a much smaller scale. Last year, the city got an unexpected boost when Grupo Aernnova, which designs and makes aircraft parts, announced plans to hire 600 engineers and other workers at a new engineering center in nearby Pittsfield Township.
The Spain-based company was one of six new employers headed for the Ann Arbor area last year. Several local companies are also undergoing significant expansions. The moves should generate 2,200 jobs over the next 18 to 24 months, according to Ann Arbor SPARK.
Pfizer's departure even resulted in a few pharmaceutical contract research firms setting up offices in the city, lured by the sudden availability of thousands of talented scientists.
One of these companies, RTI International, a nonprofit research institute based in Research Triangle Park, N.C., hired Kati Copley-Merriman and six of her colleagues from Pfizer's global outcomes research department. Though Pfizer offered job transfers to everyone in the group, none wanted to leave Ann Arbor.
"We're just trying to make this work and look forward," said Copley-Merriman, who worked at the Plymouth Road campus for a decade. "You can't look back."
Another company, United BioSource Corp., also opened an office in the city in September at a site formerly leased by Pfizer. The pharmaceutical services firm, based in Bethesda, Md., snapped up 14 ex-Pfizer statisticians, medical writers, clinical programmers and others.
It's looking for clinical programmers and statisticians, with plans to expand from 16 employees today to 50 by 2010, said Barbara Withers, the company's Ann Arbor site manager and project director.
'A sense of ownership'
The ripple effects from Pfizer's closing, though, went way beyond these kinds of gains. Workers who didn't leave are helping to remake the region's business landscape.
A number of them have launched their own companies. Ann Arbor SPARK helped 23 of these firms last year.
One of them, AlphaCore Pharma LLC, formed in June. Founders Bruce Auerbach, Reynold Homan and Brian Krause hope to develop a drug for heart attack victims that will remove the bad form of cholesterol. They just got approval to license a patent owned by the National Institutes of Health.
Auerbach, AlphaCore's president, had tried to do something similar while at Pfizer, but his efforts never gained traction.
The three men have known each other since 1990 when they all worked at the Plymouth Road campus, then owned by Parke-Davis. Several years ago, Homan and Krause joined Esperion Therapeutics Inc., an Ann Arbor developer of cholesterol drugs. Pfizer wound up acquiring the company, but closed it last year.
Armed with severance and early retirement packages plus the proceeds from Esperion's initial public offering in 2000, the trio decided to strike out on their own.
They soon discovered that despite their wealth of scientific expertise, they had no idea how to write a business plan or apply for government grants. So they got help, from Ann Arbor SPARK and a local company called Biotechnology Business Consultants.
Today, the group meets regularly in the basement of Auerbach's home in a quiet northeast Ann Arbor neighborhood. Gone are the days when they worked in beautiful, modern laboratories and offices, regularly interacting with other scientific minds.
But for the first time in their careers, no one is going to interfere with their plans or say "no." And the lengthy reviews that used to delay their work don't exist anymore.
"The bigger the company, the more risk-averse they are," said Krause, AlphaCore's chief scientific officer. "We are working on something I don't think Pfizer would let us work on."
SensiGen LLC, an Ann Arbor biotech company, has benefited from the Pfizer shutdown. It is developing diagnostic kits to help researchers quickly detect cervical cancer, kidney disease and lupus.
Last year, the start-up company began leasing a specialized lab formerly occupied by Pfizer for a fraction of the normal cost, thanks to efforts by Pfizer, Ann Arbor SPARK and the University of Michigan.
The company plans to hire six ex-Pfizer scientists by year's end, aided in part by a low-interest loan from the state. It hopes to pick up some equipment Pfizer no longer needs.
It also hired Tom Goodman, a 50-year-old former Pfizer scientist. He took a pay cut and can no longer tap into big budgets for his research. But he now enjoys working with fewer than a dozen people rather than being one among thousands at Pfizer.
"You know very much what you do has an impact," said Goodman, who spent 21 years working for first the Upjohn Co. and then Pfizer. "You have much more of a sense of ownership."
Contact KATHERINE YUNG at 313-222-8763.
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