Ann Arbor Real Estate Talk

The Medical Residents “match” letters went out of Thursday, across the United States.

Congratulations if you are moving to Ann Arbor.  We are DRS Certified, and each year help many U of M Residents relocate to Ann Arbor for the duration of your residency.

I am sure there is a number of you moving to the University of Michigan trying to decide if you should buy or rent.

We are currently working with 8 newly accepted residents moving to Ann Arbor.

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 have condo’s, single family homes and rentals on the Ann Arbor homes for sale site. It is a direct MLS feed so the data is accurate.

DRS Agent™ is an exclusive designation to a limited member group of agents nationwide that have achieved a level of success and desire to enhance their real estate business with medical professionals. The DRS Agent™ Network is proud to associate itself with PhysicianLoans who have been working with medical professionals since 1993 and have helped thousands with niche product home financing.

Call us today at 734-926-9797 and we will get right back to you.

Ann Arbor first time home buyers, remember to file your Form 5405 in order to get your $8000.00 Tax Credit.

This time last year everyone was scrambling to find a home in the Ann Arbor Area, in order to get the $8000.00 first time home buyer credit.

The form you need to file is called the Form 5405, you can click the link and print it out, take to your CPA or fill it out yourself. You may need to send the purchase agreement if you wrote the sales contract before April 30th, 2010 but didn’t close until after that date.

They want to see that your contract to purchase was accepted before April 13th. If you worked with the Missy Caulk TEAM, we can send it to you. If not contact your agent as they have the copies.

Ann Arbor home buyers the mortgage rates are creeping up.

I am never ever one to tell a buyer, NOW is the time to buy.

The time to buy is:

• when you need a home
• have a lifestyle change
• get tired of renting
• relocate to a new area.
• Homes always sell and there are always buyers to in the market to purchase.

Here is the Monthly Market Update from my company Keller Williams. I thought Jay had some good points and wanted to pass it along.

I haven’t posted in a while, I’ve had that awful flu that has hung on and on and on.

• Time to Get Pre-Approved Again? (Buying a Home In Ann Arbor) (annarborrealestatetalk.com)

What does “highest and best” mean on offers in Ann Arbor?

Typically you will hear this when you are interested in purchasing a foreclosure in the Ann Arbor Area. On a foreclosure most have already been priced by the bank below market value.

In Ann Arbor most foreclosures sell for over asking price.

Yesterday I was doing some research on the homes that sold in our MLS that were bank owned. There were 12 and of the 12, 7 closed over asking price. One in particular was listed at $204,000. and closed at $250,000. Others were less dramatic.But that home sold for 22.5% over asking price.

If you are buyer in the Ann Arbor Area, and you want to purchase a foreclosure, then be prepared to offer more, especially IF it is a brand new listing.

The banks are very good about reducing the prices of the homes if they have been on the market for 14-30 days. They will reduce it to get it sold.

Of the 5 foreclosures in Ann Arbor that did NOT sell over asking price they were not in Ann Arbor, or Saline. They were further out.

When your buyer agent calls for information on a home you want to purchase, the listing agent will “usually” tell them that they have MULTIPLE OFFERS, and will be presenting all of them at such and such a time.They will say “have them write their highest and best.”

Don’t think the bank will counter those offers.

They will usually take one of them.

If all the offers come in really, really close, the buyer agent could send you a Bank form requesting the “highest and best.” from all the offers .

Advice:

If you really want a home under market value, and their are other offers or it is new on the market, give them your best offer the first time.

What is your best offer?

I tell my clients it is the amount you can pay and if you don’t get the home, can lay your head down at night and know you gave them your best offer.

Many times I have had buyers come back and say, “oh, we should have offered more.”

Yes, you should have.

Next time you will.

• Mailing List for Short Sales & Foreclosures in Ann Arbor (annarborrealestatetalk.com)
• Price Per Square Foot in Ann Arbor (annarborrealestatetalk.com)
• Market Activity by School Districts in Washtenaw County (annarborrealestatetalk.com)

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Ann Arbor folks looking to rent BEWARE!

Craigslist scammers are out in full force advertising our homes for sale in Ann Arbor and posting them as rentals.

I had three calls this week, from really nice folks looking at one of my homes for sale that they found on craigslist for rent.

For rent for $700.00

It is not for rent.

It is a “short sale.”

I immediately went over and found the home. Reported it, yea that did a lot of good. Then I emailed the person as his email address was front and center.I told him to “Take down the ad.”

In speaking to the people that called, he wanted them to wire the money to Nigeria then he would send them the key. Thank goodness they called me and I was able to tell them it was not for rent.

He told them he did have it listed for sale, with a local Realtor, but decided to rent it. NOT!

Here is what he was sending out when people ask him about the house.

Hello,
I resided in the house with my family, my wife and my only son. Presently we have moved out due to my transfer. Presently my house is still available for rent for $700 (rent already includes utilities).More so Now,I’m currently in Lagos,Nigeria for a missionary work.
As soon as we settled down here, I had a thought of selling the house so I had to look for an agent, after getting one, we got a deal but later my wife advised against that. So I contacted the agent back and requested for my keys and documents.Later we decided to have the house rented out because of maintenance, we would have given the same agent this job also but the truth of the matter is that the agent would want to handle it professionally and the occupant may not be able to reason along with me later if I let him or her know that I’m letting it out because of maintenance.If you notice, you will discover that the price we are offering is far below standard price, this is enough for you to know that we are not after the rental fee but the maintenance. Plans has already been made to remove the for sale sign and take it off the market. I know there is no way I can be sure that you are the right person to live in the house because we won’t be able to see physical before sending you the keys and the documents to occupy the space. But I just have a feeling that anyone who knows what it takes to put the kind of structure down should know that maintaining a building is mandatory, so if you belief you can take good care of the house and handle it like yours then I will be more than happy to let you rent the house.
The house is available for rent at the moment so you are free to move in as soon as you wish to…A Deposit of $700 (which happens to be the security deposit) is required before moving in…..Feel free to call me for more information and arrangements on how to get the keys and other necessary documents delivered to you.Please if you are ready now to occupy the house and believe you can assist us in maintaining the house, kindly provide the information below for record purpose..

PLEASE TELL US ABOUT YOURSELF
Application Form
Full Name__________________________________________________
Home Phone (        ) ________________________
Date of Birth_________________________________
Other Phone (       ) ___________________
Current Address_______________________________Apt#________ City__________________ State______ Zip________
Reasons for Leaving____________________________Rent $__________Phone (       ) ____________________________
Are you married____________________________
How many people will be living in the house____________________________
Do you have a pet____________________________
Do you have a car____________________________
Occupation____________________________
Your Exact move in date____________________________
How soon can you make the deposit payment________________________
How soon do you want to receive the keys and documents of the house________________________

For more inquiries, please feel free to reach me on any of the numbers below
( +234-703-345-1866 OR 011-234-703-345-1866 OR +234-709-521-3144)

Yesterday the Ann Arbor Area Board of Realtors sent out this notice:

This is one reason I use SentriLock lockboxes on all my listings.

Please be careful, you can search for rentals in Ann Arbor and the surrounding areas on my home search site.

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Ann Arbor homeowners

Washtenaw County has pockets of high radon, so we always have our buyers check during the inspections. If radon is over 4.0 then we ask the sellers to install a Radon Mitigation System. They are between 750.00 t0 800.00 installed.

When you get it installed you can have a meter put on the inside pipe to take a peak at it periodically.

Homes for sale in Ann Arbor