2008 July

Jul 30

First time home buyers in Ann Arbor

2 Comments | Leave A Comment Posted by Missy Caulk

Yesterday, I told my team of 6 buyers agents to ask any of there new first time home buyers, “Do you have at least 3.5% to put down on your home?” It is no longer enough to ask a first time home buyer if they are “pre-approved”. First time home-buyers are going to need 3.5% down to purchase their first homes.

Two programs that are being done away with in October, the Ameridream and Nehimah program. Both of these programs allowed the seller of a home to contribute 3% to a buyer to be able to purchase their home. With the housing industry in a mess, we were seeing many first time home buyers use one of these programs to get in their homes.

This morning, President Bush signed the Housing and Economic Relief Act, a step to help over 400,000 homeowners be able to re-finance their high interest rate or ARM loans with government backed Fannie Mae and Fannie Mac loans. There is also 18 M assigned to help families in pre-foreclosure get the counceling they need to not lose their home. As with any bill, there are good points and bad points and that is not my intent to debate the bill here.

One aspect that is good for first time home buyers who purchased after April 2008 and until April 2009, is a $7500.00 tax credit that will be taken off your tax liability when you purchase your first home. In order to qualify for this you would need to make under $75,000 for a single filer and under $150,000 if filing jointly.

Another alternative for a 1st time home buyers in Ann Arbor and Washtenaw County is that you are allowed to withdraw, $10,000 from your IRA to purchase your first home. There is no penality on the withdrawl, however, you would be taxed at your normal tax liability rate. **not for 2nd home buyers or investment buyers**

Always check with your accountant or professional financial advisor before withdrawing money from your IRA. This is just a possible solution if you are a first time home buyer and want to take advantage of the $7500.00 income tax credit between now and April 2009.

Lets hope the new bill is able to help families strapped to stay in their homes and not loose them.

You can start your home search here for Ann Arbor houses throughout Washtenaw County.

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Categories: Ann Arbor, Buyers, Buying a House, Loans

Jul 28

Ann Arbor # 1 for Retirement and Healthy Living

5 Comments | Leave A Comment Posted by Missy Caulk

Ann Arbor was just named the Number 1 City to retire in for healthy living. Everyone wants to be healthy and everyone will eventually retire. Sounds good to me !

AARP worked with Bert Sperlings Best Places, they looked at hundreds of cities throughout the United States for the 20 measures of vitality. They looked at both the physical aspects of the communities like air and water but also at the health and habits of those who lived there.

Just a few of the 30 criteria, they looked at were: Life expectancy, Healthy eating score (how many fruits, vegetables, and whole grains did average resident consume, Hospital beds per capital and number of fast food restaurants. You can read the entire list of the 30 criteria used by AARP magazine here.

Ann Arbor is a college town and home to the University of Michigan Medical Complexes, with over 580 physicians per 100,000 people. 86% of the residents in Ann Arbor get regular exercise. The U of M hospitals is one of the largest university medical centers in the world and is a hot bed of innovation, according to the article in AARP Magazine.

Ann Arbor has over 150 parks, with Nichols Arboretum 123 Acres, in the heart of the city, and over a mile of Huron River frontage. I had just written a post on Ann Arbor being 24 miles surrounded by reality, which included both the U of M medical complexes and Nichols Arboretum.

I was actually surprised, because of the weather in Ann Arbor, but few southern towns made the list. Naples Florida, Santa Fe, NM, and Honolulu, Hawaii made the list for warmer climates. Seems like all that good Southern cooking, which I love just isn’t great for healthy living.

Yes, I work out at least 5 days per week, but I sure do love those homemade bisquits and milk gravy when I visit my family and friends down south.

Thinking of retirement?

Want to live in AARP’s Number 1 Spot to retire for healthy living?

Call the Missy Caulk TEAM 734-216-2822 or begin your home search here.

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Categories: Ann Arbor, University of Michigan

Jul 11

4 Days and Counting…Ann Arbor Art Fairs 2008

Be the first to comment on this post Posted by Missy Caulk

The Ann Arbor Art Fairs are set to begin on Wednesday, July 16th and run through Saturday, July19th. Did you notice the S at the end of fairs?

That is because it is actually 4 Art Fairs and they all merge in Ann Arbor the second week in July.

Ann Arbor Street Art Fair

Ann Arbor State Street Art Fair

Ann Arbor Summer Art Fair the guild

Ann Arbor South

University Art Fair

Regardless over 500,000 will converge in Ann Arbor starting Wednesday. Shuttle buses will leave from Briarwood Mall and Pioneer High School for the 4 days and I highly recommend using them. It is FREE for children 7 and under and $1.50 for over 7 each way. Parking is hard unless you live here and manage to find a parking space in a neighborhood tucked away.

We arrived in Ann Arbor on the Saturday night following the art fair, 26 years ago. What a surprise !

Now it is part of a tradition to attend the Ann Arbor Art Fairs.

Click on the different Art Fairs above to find out what spectacular arts are coming to Ann Arbor and more about each art fair. See ya there !

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Categories: Events

Jul 10

June Market Report for Ann Arbor and Washtenaw County

5 Comments | Leave A Comment Posted by Missy Caulk

I get my data from Big House Data, a company in Ann Arbor, that compiles all their data from the Ann Arbor Board of Realtors. It varies somewhat from what the actual Ann Arbor Board of Realtors puts out. Either that or it is interpreted differently from the Ann Arbor News.

The Ann Arbor News through MLive.com reported the average price home to sell was $223,802.00. This price is back to the 2000 prices of home sales. So in 8 years, poof…. the sellers have lost value in their homes.

Big House data is reporting that the average price home sold for $195,886.00.

The silver lining in the cloud that has hung over Ann Arbor Area homes is that the inventory has dropped by 27% from June 2007 to June 2008. For the entire year, listings are down 31%.

Buyers are seeing the value in the homes and this is absorbing the inventory of available homes.

Once again, homes that are selling are PRICED RIGHT from the beginning, and are in tip-top condition. One exception to that rule is foreclosed homes. Multiple offers are coming in, a home on Miller in Ann Arbor received multiple offers the first day. I didn’t even have time to get my buyers out there.

Start you Ann Arbor House Search here.

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Categories: Ann Arbor, Buyers

Jul 09

Open House, Sunday July 13th 2-4

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OPEN HOUSE, SUNDAY, JULY 13TH 2-4, 1288 Hull Ypsilanti, Mi 48197

Location: Shady Knolls

OPEN HOUSE,SUNDAY, JULY 12TH FROM 2-4.

ABSOLUTELY PERFECT HOME, CROWN MOLDINGS, NEW KITCHEN, BATH, ROOF, WINDOWS, SIDING, DECK DOORS, W/ LOW E GLASS, JACUZZI TUB, NEW FIXTURES THROUGHOUT. LARGE FENCED LOT W 2 CAR GARAGE PERFECT FOR THE FIRST TIME HOME BUYER OR RETIREES. YOU WILL not FIND A BETTER HOME FOR THIS PRICE !!!

Virtual tour is attached, this home awaits some lucky buyers !!

Information

Contact Information

Missy Caulk

734-216-2822

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Pricing

Asking Price: $149,900.00

Property Location

1288 Hull Street
Ypsilanti , MI 48197
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Virtual Tour

Features

Bedrooms: 3

Bathrooms: 1

Year Built: 1955

Subdivision: Shady Knolls

Lot Size: 66×122

Garage Size: 2

School District: Ypsilanti

Square Footage: 1040

Agent Name: Missy Caulk

Broker: Keller Williams

MLS #: 2805529

Attributes

Appliances

Range/Oven

Full Refrigerator

Washer/Dryer

Dishwasher

Sink Disposal

Microwave

Interior Amenities

Hardwood Floors

Basement

Crown moldings

New windows low E

New vinyl siding and dormers

New roof

Exterior Amenities

Fenced Yard

Grass Lawn

trellis on deck

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EQUAL HOUSING OPPORTUNITY

VFLYER ID: 1664092

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Categories: Uncategorized

Jul 08

Determining if you should buy or rent in Ann Arbor

4 Comments | Leave A Comment Posted by Missy Caulk

Should you buy or rent if you are moving to Ann Arbor or the surrounding areas in Washtenaw County ? We get asked that question frequently.

The answer is “it depends on your individual circumstance”.

One of the first things to ask yourself is, How long will you be living in Ann Arbor?

In the past it definately made more sense to buy, but now it really depends. If you are a Medical Resident and will only be here 3-4 years, then perhaps renting is the best option. Do you have a dog, that needs space to run? All of those personal decisions should enter into your decision.

Here is a mortgage calculator that you can play around with. Put in what it will cost you to rent, and along side of it put it the monthly mortgage payment. You can add in the interest rate you have been quoted, and the cost of selling the house in the year you plan to move.

The mortgage calculator will calculate a report for you based on the information you submit. You can save it or print it out.

Home prices have never been better in Ann Arbor, so if after doing the research you can begin your home search here, to see all the homes on the market throughout Washtenaw County. You’ll be happy to see the houses with Google Satellite Images, Google maps and multiple photos.

You can also find rentals, listed through the Ann Arbor MLS.

Renting vs Buying is a personal decision, and it is always best to speak to qualified professionals about your financial decisions.

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Categories: Ann Arbor, Buyers, Buying a House

Jul 03

Stonebridge Community in Ann Arbor and Saline, MI

3 Comments | Leave A Comment Posted by Missy Caulk

Stonebridge in located on the South side of Ann Arbor and is divided into two school districts, Ann Arbor Public Schools and Saline Area Schools. It is a Planned Urban Development (PUD) with over 650 homes.

Stonebridge features executive homes, golf villas, condos, and single family residential homes. The Stonebridge Community is surrounded by the Stonebridge Golf Course, designed by Authur Hills. You can book T times on line and check out internet specials, or see a layout of the course all online.

There are currently 27 homes on the market in Stonebridge. Six of the 27 are under contract to purchase. Three in Saline side and three in the Ann Arbor side for schools. There are two homes currently for rent in Stonebridge for a rental price of $2850 and $3000.

All of Stonebridge is located in Pittsfield Township and all of Stonebridge has an Ann Arbor mailing address with a zip code of 48108.

The home under contract are:

5408 Pennacle Ct

2413 Moors Ct

2203 Stonebridge Dr

4484 Stonebridge Dr

2126 Stonebridge Dr

1764 Stonebridge Dr.

Prices are currently ranging in price from 314,000 to 1.2 M.

Last year between July 1st and December 31, 2007, 33 homes closed in Stonebridge. With the current inventory of 27 available, Stonebridge is homes have a low absorption rate. Which means the amount of homes available is equal to the amount that have sold.

There are 11 different associations in Stonebridge, each governed by their own homeowner associations. Their community web site is available for public viewing.