Ann Arbor Real Estate Talk

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.

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Every day, I am seeing more and more homes listed in the MLS with the remarks, “subject to a short sale” or “subject to third party approval.” Some neighborhoods are loaded with them. Some communities are loaded with them.

What does a “short sale” mean?

A short sale is when the homeowner, can not sell their home in the current market conditions at the price of what they owe the bank on their house or condo. Therefore they ask the bank or lender to accept an offer on the property that is less than the amount owed. This is called “selling short.”

Before selling a home “short”, the homeowner must have missed payments on the home and the house must be listed.

When I do a listing presentation and must tell a homeowner that their home will not be able to sell at the price they owe, we discuss “short sale” as an option. Not everyone will be able to sell their home as a “short sale”. If the homeowner has a good job, lots of assets in the bank or investments it is unlikely that the bank will agree to it.

The first thing I do as a Realtor is to have the homeowner or myself, ( must have the authorization form) signed by the homeowner for me to speak with the lender and order a short sale package from the bank or lender. It usually takes 72 hours for the bank to process the authorization form and for me to be in their system so that I am allowed to speak to them about the homeowners situation.  At that point I can find out how much they owe, explain the homeowners situation and try to work out a plan. Included in the package called a “loss mitigation package”, is the requirements for a short sale.

The homeowners must write a “hardship letter”, explaining why they need to sell, and the reasons for the hardship.

When I see a home listed as a “short sale”, the first thing I do is call the Realtor and ask, what has been done to move the sale along. If they have done nothing, then it is best for my teams buyers to move on and find another house or condo.  It takes the patience of Job to wait on a response to a short sale offer. If the package has not been ordered, assests, bank statements, W2’s and the hardship letter written you are in for an even longer wait. If a buyer needs to be in a home in 30 to 60 days, it is best to find a home that can be closed within that time period.

We have been waiting three months on a lake house, the seller was trying to sell “short”. The lender would not accept a short sale, the home went to foreclosure and is now with another company, which still does not have the paper work from the servicing institution. Fortunately, this is a second home so our buyer can wait it out.

I’ll post more later on why banks let homes go into foreclosure and why they would rather do this than accept a “short sale”.  If you are a buyer and looking at writing an offer on a short sale, make sure your Realtor is familiar with doing them, make sure the loss mitigation package is ordered, make sure the Realtor has permission to speak with the bank and make sure the hardship letter has been written.

If the listing agent is not able to say “YES” to all of the above, it is best to find a different house.

As more and more homeowners are asking the banks for short sale relief, it is critical to work with an agent who is knowledgeable in understanding and working the short sale process. Just because a home or condo is listed in the MLS, as “short sale” or “third party approval”, doesn’t mean the agent or the bank has agreed to it and the necessary documents are gathered.

The Mortgage Forgiveness Act was signed into law in January 2007,  read the document in it’s entirety as it applies to the Principal Residence Exemption on selling a home short.

***Begin your home search here.***

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On May 20, at 7:00 pm at the Pittsfield Township Administration Building, Saline Sustainability Circle will feature a presentation on wind turbines by John Sarver of the Michigan Energy Office.

Mr. Sarver is part of the Michigan Wind Working Group, and will speak on the different types of turbines currently in use in Michigan, the feasibility of wind generation in our area, and ideas for ordinances and guideline for heights and locations for wind turbines in communities in Michigan.

The U.S. Department of Energy’s Wind Powering America program has a goal that 20% of all electricity will come from wind power by 2030.  Michigan has the wind resources and technical and manufacturing capabilities to make a major contribution to this goal.

Will ultra low frequency noise be a problem?

What is “shadow flicker” and can it be abated?

Are birds and bats affected?

If large propellers aren’t feasible in a more urban or suburban setting, how about barber pole or roof mounted turbines?

Saline Sustainability Circle meets on the third Tuesdays of most months. Locations of the meetings rotate among the member communities and organizations: City of Saline, Saline Chamber of Commerce, Saline Area Schools, Saline Township, Lodi Township, York Township, and Pittsfield Township.

The public is invited to attend and learn more about a renewable resource that is gaining popularity throughout Michigan. For more information, please visit www.salinesustainability.org.

More information on wind and other alternative energy can be found at Michigan’s Department of Labor and Economic Growth website at www.michigan.gov/eorenew.

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One of the things I have been doing in the current market is having all my sellers who need to move before their home sells is to have it Stagged.

It has been said that people buy with emotion and justify the price. When you walk in a empty, vacant house, there is NO EMOTIONS involved. The rooms looks cold and bare. Many buyers have a hard time visualizing how their furniture would fit in the room.

This is why when builders are developing a new subdivision they always have a model home. Did you know that most model homes are the ones people tend to build, even if they have floor plans and other elevations available?

True…

The model home is all stagged and they can imagine themselves living there. Therefore, stagging a home in Ann Arbor, Saline or anywhere in Washtenaw County helps the homes sell faster. Recently I listed a home that was originally listed my another agent. The dining room ceilings were ORANGE and below the chair rail was a different color of orange. The closets were filthy, the fireplace and family room were painted. Over it needed painting and stagging. So my seller agreed to have it done. We are closing on this home on May 16th.

Here are two separate shows on stagging one before and one after. Which would you rather see if you were looking. This home at 1258 Waterways is closing on May 16th too.

Click her to see the difference in a stagged and unstagged home.

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Today, is the first day of May, the weather is still chilly and the market is also chilly.

Last year from April 1st 2007 to April 30th, 2007, we had closed on 148 homes.

This April from April 1st to April 30th, 2008, we only closed on 29 homes. Now if that is not discouraging enough, of the 29 that sold, 9 were rentals and three were foreclosure’s.

This is discouraging for home sellers who have a home to sell in either Saline or Ann Arbor.

If you include the entire MLS for the Ann Arbor Board of Realtors, this would include all the way from Brooklyn in Lenawee County to Brighton, down through Western Wayne County, there were 373 closings in 2007 in the month of April and only 82 for April 2008.

This means that out of the 1000 Realtors in Ann Arbor Area Board of Realtors, only 82 got a paycheck of any kind in the month of April.

The Missy Caulk TEAM had 9 of those closings in April, making us with about 11% of the total closings. Of the nine closing we had in April, three of the clients were referred to us, and six were buyers from the internet.

My thoughts are, if you are a Realtor and not working the internet you are missing out. Since 77% of all buyers are going on line to look for houses, you must have a STRONG internet presence. When I say strong, I don’t mean a web site. Everyone has a web-site. Your web presence must include PPC ( pay per click) campaigns, and a good follow up system to nurture those initial leads and most important a home search site that is so good the buyers come back again and again.

Good photos are a must. ( did I say good? ) Virtual tours are extremely important. I do a virtual tour on ALL my listings, regardless of price and even on rentals. I saw a photo the other day in our MLS with I guess the seller sitting in his back yard, and another one of a child watching TV. Now that really helps sell houses.What were those Realtors thinking?

Having trouble selling your Ann Arbor or Saline house?

Give us a call or visit us at our home search site.

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If you are a Realtor like myself, or in any profession, you are aware that gas prices are over the top of the roof. I mean really ? Where is the outrage ?

Here is a link to find the lowest price gas prices in Washtenaw County. There is not a lot of difference but some and every 10 cents can help.

If you are driving around, looking at houses for sale in the Ann Arbor Area, start your home search here and save that gas money. You can save homes to your favorites, with Google Maps, Google Satellite Images and Multiple Photos.

Yesterday, my daughter and I went and video taped a home for an out of town buyer. We blogged on it on my other blog, BlogAnnArbor. If you want care to see it.

Ask yourself, is my Realtor doing that for me ?

Are you stuck looking at the 8-10 photos on a web site?

*** We would love to be able to serve your realty needs in Ann Arbor and the surrounding areas of Saline, Dexter, Chelsea, Milan, Ypsilanti.***

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Paul Bunton is the Chief of Police in Saline, Mi. He became Chief of Police when he arrived in Saline from the Ann Arbor Police Department. I have known Paul and been involved with him through the Saline Chamber of Commerce and Saline Schools.

Last Saturday, during the Michigan Spring football game held at Saline High School, I shot, (no pun intended) a video of him speaking about the safety of Saline, Mi.

VideoAd by Mixpo

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Today was the much anticipated Spring game where the University of Michigan Wolverines gave us a glimpse of the new “spread offense”. There was a lot of excitement in the air to see new head coach, Rich Rodriguez and the unfolding of the offense.

The game was held at Saline High School, where all my children have attended or graduated from. Saline has a top notch football stadium and it was fun to see the Wolverines on the field.

It was so cold……………….and windy, worse than most of our fall games.

It was exciting to see Michigan go into a no huddle offense and take most of the snaps from the shot gun.  

Included is an audio of Rich Rodriguez summary on the game today, posted my Jim Carty of the Ann Arbor News.

We were invited inside the stadium because the Missy Caulk TEAM with Maria Labie our preferred lender from Citizens First Bank were the exclusive sponsors for the Maize and Blue game. Due to it being in a smaller stadium the “The Big House”, it was not open to the public.

My daughter, Christa and Buyer Agent on our team was in the press box and did a quick interview with Sam and Andy on WTKA, Sports Radio in Ann Arbor.

Here is some footage I shot with my new flip video.

Remember it’s C A U L K….like around the bathtub and windows.

GO BLUE !

The Missy Caulk TEAM

734–827–0757

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Every year the Saline Chamber of Commerce honors three citizens at their Business Enterprise Award Reception.

This year the awards go to Betsy Marl for the Citizen of The Year. Besty was born and raised in Saline and has been a first grade teacher since 1975. She is married to Gary Marl, former owner of Saline Dodge in Saline.

Taylor Jacobsen is this years recipient of the Lifetime Achievement Award. Taylor was also a teacher in Saline Schools,where he taught art for 40 years. Taylor also graduated from Saline High School. He is a founding member of the Saline Historical Preservation Committee and was involved extensively in the restoration of the Weber-Blaess one room school house. A school that he attended as a child formally called the Lodi Plains School.

Finally the George A Anderson Vision Award goes to newly elected Saline Schools Superintendent Scot Graden. Formally a teacher, football coach and Community Education Director for Saline Schools, Scot has been involved in many project around Saline. Scot has served for eight years as the Chairman of the CARES Mileage Advisory Board. The board annually gives out grant money to fund various projects around Saline, including Soccer, African American Culture and Historical Museum of Washtenaw County and is currently funding the restoration of Henne Field.

Congratulations to Betsy, Taylor and Scot.

The Youth of the Year Award, which is also presented the night of the Business Enterprise Awards goes to Andrew Schantz. Andrew is a Jr at Saline High School and was responsible for the Dress for Less Saline which donated homecoming and prom dresses to benefit Charity. He has been chairman of the Saline Youth Council for 2 years and is running for FCCLA, which oversees 250,000 youth.

Congratulations to you Andrew.

This is a great, fun event honoring our Citizens and we hope you can attend and get to know and congratulate the current winners.

Tickets are $20.00 per person and can be purchased by calling the Saline Chamber of Commerce at 734–944–4494 or visiting their web site at Saline Chamber.com The event is held at Saline High School and is Friday, April 18^th.

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Let’s see if I dig really hard I can find some good news! Ok, the amount of homes and condos being listed is down, 42%.

That is good news and mostly attributed to Pfizer homes for the most part being gone.

The average sale price in March for Washtenaw County is down to $205,400. That is just unbelievable.

Rather than interpret the data here are the charts for your review. All data is from the Ann Arbor Board of Realtors, where I serve as a Director and compiled by Big House Data in Ann Arbor.

If you are a buyer this is A GREAT TIME TO BUY !!

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