Ann Arbor Real Estate Talk

The Michigan Senate passed legislation to hopefully stimulate the housing industry in Michigan. A similar stimulus package was passed by the Michigan House last year which would give homeowners a 18 month moratorium on the “pop-up” tax.

What’s the “pop-up” tax?

It is tax in Michigan that effect homeowners when they sell their home and want to move up to purchase a new one. For example, you buy a home in Michigan and the new home buyer gets a notice of an increase in their taxes. Since Proposal A was introduced, it gives the Townships and Municipalities the ability to increase taxes when the home owner sells to the new buyer and the deed is transferred.

Under the Headly amendment, taxes could only be increased up to the rate of inflation or 5% whichever is less. However, when the deed in transferred to the new home owners, taxes go up to the current assessed values.

Here is an example: We were thinking about down-sizing a few years ago. Didn’t need the big house most of the children were gone. We have been in our home for 15 years and our taxes have only gone up incrementally. When we started to look around, to see what we could find in a small home, the taxes were so high, they we decided to stay put and keep the big house with lower taxes.

The Senate Plan would create a 33 month window. It would work by the homeowner getting a tax credit to reimburse new homeowners for any “pop-up” tax.

The thought behind this new bill, in both the House and the Senate is that it would encourage folks in Michigan to move up or down into new homes, without the increased tax liability for 18 to 33 months, whichever compromise is reached. Either way the home buyers would be paying more in taxes eventually, so it is a MORATORIUM, not a tax cut.

Senator Jud Gilbert from Algonac, and Senator Roger Kahn, from Saginaw Township, both Republicans feel this moratorium is necessary to stimulate the Michigan’s housing market and spur the economy.

Here are the bills for further reading: SB 1065, HB 4215

Details can be found at 791, 790 and 4215.

I’m still not sure if this is the solution…

The better answer would be for Michigan to attract more jobs into our state.

As I Realtor who has been selling and marketing home in the Ann Arbor, Saline, Washtenaw County Area for 13 years, I rarely have a client not decide on a home based on the taxes. When it does come up, it is in Saline City, which has much higher taxes than the Townships surrounding it like Lodi, Saline Township, York Township, Pittsfield Township.

Any thoughts on these bills appreciated.

Begin your home search here.

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Recently I gave the Missy Caulk TEAM an assignment, to write down their dreams? After looking at me like I was completely crazy, I asked them, “Seriously, ARE you dreaming?”

Another word I use in place of the word dream is vision.

What is the vision you have for your life? Have your written it down? Are you waiting for it? Are you running towards it?

Henry David Thoreau said, “Go confidently in the direction of your dreams! Live the life you’ve imagined. As you simplify your life, the laws of the universe will be simpler.”

I was recently challenged when someone ask me about my dreams. For a moment I was stunned. It had been a long time since I had really thought about what my own dreams were. Being a mom, wife, and Realtor, and now a blogger, that is about all I have had time to think about for years. Just the day to day tasks of life are all consuming. Sure, I have goals but goals are not dreams.

We live in a culture of more, more, more, faster, faster, faster, newer, newer, newer. Everything and everyone is screaming for our attention.

Seth Godin one of my favorite authors and blogger, wrote a book, The Purple Cow, in it he talks about being Remarkable. He poses the question, What are we doing in our Marketing efforts that is truly remarkable. Shortly after I read the Purple Cow and was pondering what I could do to make the Caulk Team truly remarkable, my husband had a heart attack and we spent several days at St.Joe’s hospital.

Scrolling across the computer monitors in the ER, and throughout the nurses station, were the words, Remarkable Medicine and Care.  hummmm, wonder if they read Seth’s book?

What holds us back from fulfilling our dreams? What can we do to place our dreams above our fears and be remarkable in our careers, and our families?

All six of the Buyer Agents on the Missy Caulk TEAM, are dedicated to giving you remarkable service and helping your pursue your dreams of home ownership.

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Ann Arbor, home of the University of Michigan and the only city in the United States with the name Ann Arbor. No wonder you don’t have to search by any other name on Google when you put Ann Arbor in the search.

Here are a couple of YouTube videos that will show you what Ann Arbor is really like, from the dynamic downtown to the University of Michigan.

There are currently 151 homes on the market in Ann Arbor between 100,000 and 200,000

There are currently 136 condos on the market between between 80,000 and 159,000.

Having been a Broker in Michigan for 13 years, this is nothing short of amazing.

This YouTube is my Kurt Westphal on what makes a downtown dynamic.

You can search all the listings in Ann Arbor from Search Ann Arbor Houses.com, or shoot us an email @ Info at MissyCaulk.com  or phone us at 734–821–0757, if you have questions about neighborhoods, schools, parks and recreation, music, and relocating.

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Saline Parks and Recreation has submitted a proposal to Hamburger Helper to help with funding the need for new equipment at the Saline Rec Center.

The proposal requests $13,900.00 grant to purchase Spinning equipment, BOSU balls, weight room equipment ( Nautilus Leg Press and Nautilus Torso) and water aerobic equipment.

Carla Scruggs, Director of the Saline Parks and Recreation Center is requesting help on the project. So I was glad to go help out by submitting my comment. I work out at the rec center 3–5 times a week depending on my schedule. So I agree we do need some newer equipment.

If you are a member of Saline Rec Center you can log onto My Home Town Helper. and support the project.

Once you log on: Find the project at the top.

Type in State Michigan and then City Saline

The name of the project is A Healthier Stronger Saline, just enter your name, birth date, email address and submit a comment. ( You will be asked to accept the terms and conditions) The just Click: ADD you Comment.

According to Carla, the more comments we have the better.

The Saline Recreation Center is located at:

 1866 Woodland Dr.  734–429–3502.

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The “match” letters went out of Friday, across the United States and I’m sure there is a number of incoming University of Michigan Residents trying to decide if they should buy or rent.

Here is a Rent or Buy Calculator that will help you decide if you should Buy or Rent for the next 3 to 5 years.

After you try it out, know that the Missy Caulk TEAM can help you whatever way you decide is best for you during your Residency.

If you want to purchase or rent you can start your home search here. We work with a great lender that will not count your school loans until you are finished with your residency.

Call the Missy Caulk TEAM at

734–216–2822 or email us at Info@MissyCaulk.com

We are DRS certified and help many U of M and St. Joe’s residents relocate every year. If you need references of other Med School Residents we have helped move, we will be happy to provide them.

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Happy Easter, Ann Arbor and Saline.

Who would have thought?

I’m usually in Florida for Easter Sunday, so not only was I home but a White Easter.

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In the 50’s, the average price of a home was $8450.00. Gas was 18 cents per gallon, a new Chevy Corvette was $3631.00, a 17” black and white TV was $179.95, and a 1 carat diamond ring was $399.00. The average income was $5010.00.

I remember when my parents built their home in 1961. It costs $18,000.00 and their interest rate was 8 1/2%. I can hear my dad, saying, “I don’t know how you will be able to afford a house someday, with interest rates so high”.

My husband and I bought our first home in Michigan on a land contract and mortgaged

$68,000. for it on a 5 year land contract for 11%, we were thrilled as interest rates were up over 18%. Michigan’s economy was in a down-turn and there were bumper stickers on cars saying, “The last one out of Michigan, please turn out the lights”.

We had just moved here so it was quite alarming.

The point is: the economy is cyclical. It changes. We need to be thinking long-term and not short-term. Soon we will be back to multiple offers, probably with higher interest rates. That market will be different. There is no quick fix for the problems we are facing, it is prime time to buy if you are going to be here from 3–5 years and need a home or condo.

Downturns can be good. Yes, I said GOOD!

 The market decline although not good for the sellers, as they have lost equity in their homes is a wonderful opportunity to move into Ann Arbor. Ann Arbor was so unaffordable, many buyers had to leave the city get affordable housing. So areas like Manchester, Milan, Whitmore Lake and Ypsilanti Township too off, not it is not necessary to do that.

History is our greatest friend, because we know others have set the path before us, and we can look at our history and know that in the future, we will be back in a sellers market. Those who don’t look at  history are doomed to repeat the past. We will be smarter, and wiser.

There are currently 152 homes on the market in Ann Arbor between $100,000.00 and $200,000.00. That is amazing. Take a look. 

Call us when you ready 734–821–0757 or email:   info at MissyCaulk.com

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                   The Saline Chamber ”BBR” breakfast scheduled for next Tuesday, March 25th at  Brecon Village.  This month’s breakfast is sponsored by Stonebridge Golf Course. Call 734–429–4494 for reservations.

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Two new technology firms are coming to Ann Arbor. The Michigan Economy Development Counsel and Ann Arbor Spark have been instrumental in the planning.

MyBuys Inc from Redwood, CA which is a personalized product recommendation for online retailers is expected to create 606 jobs.

Sakti3 is a start-up company, that will develop batteries that can withstand the demands of automotive use.  Electic cars becoming more and more in demand it is so important to critical to have batteries that can withstand the use of use in our cars.

For more information you can read the entire story on new jobs coming to Ann Arbor.

All together it will bring about 836 jobs to the Ann Arbor Area.

Yea, great news and let’s absorb some of that housing inventory.

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To those of us who live in Ann Arbor, we have always thought we were exempt from the rest of the state of Michigan when it came to the housing industry downturns. Not this time. A quick look at Foreclosurenet.net will give you a list of all the foreclosure homes in Washtenaw County. There are 298 homes listed on this site.

Most of foreclosed homes in Ann Arbor and in the State of Michigan are due to homeowners either loosing their jobs or being transferred and not being able to sell their homes for what they owe.

In the 90’s many homeowners were quick to refinance their homes, assuming the market would continue to rise at the historical 8% in Washtenaw County rate.  Opps, it didn’t happen and the refinance appraisals came in high.

As a Realtor when I visited homes and the homeowner told me they had an appraisal that was higher than what I determined the market value for selling to be, the homeowners were dismayed. Traditionally refinance appraisals are always high, as the banks would anticipate the homeowner was staying in their home and not selling. There is a difference in a refinance appraisal and a 90 sale appraisal.

So many, many homeowners refinance, pulled money out to buy a car, take vacations and pay off credit cards. Then the bubble burst and not only did homes stop appreciating but they declined in value. I am currently seeing home prices down to the 1998 prices in many of the areas in Washtenaw County.

If you area buyer this is a good time to take advantage of the market conditions in Ann Arbor and Washtenaw County.

Here is a cute video, I found on YouTube by Dave Girtsman that was linked to on Twitter.

Help is on the way……….

Legislation that allows the Michigan State Housing Development Authority (MSHDA) to create a loan program to assist homeowners facing adjustments in their interest rate passed both chambers and is awaiting the Governor’s signature.

The legislation would allow MSHDA to implement the “Save the Dream” refinancing program, which would be available through lenders and remain an option for individuals. The new program would aid those in danger of losing their homes by refinancing for more affordable payments. Every home spared from foreclosure not only helps the individual, but has a positive economic “domino effect” on communities, cities and the entire state.

If you need to contact a lender to find out about refinancing under the MSHDA program, give me call at 734–824–0757 or email me missy at missycaulk.com

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