Ann Arbor Real Estate Talk

The 35th Annual Saline Christmas parade is this Saturday in downtown Saline. A favorite of mine for too many years to count. Let’s just say I can remember nursing my 8 month old baby under my coat on one of those nights it was freezing snow and ice.

All my kids have participated in the Saline Parade at one time or the other. When we first moved out to Saline, 20 years ago, it was a short parade, and over the years I have seen it grow, and grow and grow.

Regardless, it really gets me in the Holiday Spirit.

The theme of the parade this year, is the Christmas Story“.

The parade begins at 5:30 PM on Saturday and goes throughout downtown Saline.You can catch a shuttle at Busches if you want to park. After the parade Santa will be at Santa’s Village.

Related articles

• Saline Holiday Week Starts November With the Craft Show (annarborundressed.com)

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In Ann Arbor, both a buyer and a seller have the choice of which Title company to use for the closing or settlement.

When I list a home for sale in Ann Arbor or the surrounding area’s, I always order a Pre-Committment Title policy upfront. I do this so my sellers can review it and give to an attorney to review. (Anything that needs cleaning up can occur during the listing period.)

If the sellers have a preferred title company then I use that one. All of the local title companies in Ann Arbor are excellent.

When an offer is accepted it is perfectly OK for the buyer to decide which title company they want to use.  The only exception to this is many banks that are working with Michigan Servicing Companies for foreclosures will make you use their title company. (Not always but many times.)

If you are a buyer in Ann Arbor it is best to write that into the original offer that you will be using your own title company.

In Ann Arbor and all of Michigan, buyers and sellers split the cost of the Title Policy. The sellers pay what is called a Owners Policy and is based on the sales price of the home.

The buyers pay their portion of the Title Insurance based on the price of the mortgage they are obtaining.

Example: Contract price of home is 200,000.

The seller provides an owners policy on 200K.

The buyers is putting down 50,000. His portion of the title insurance is based on the amount of the loan which would be 150,000.

Both Buyer and Seller can choose their own title company.

• Ann Arbor Elementary Schools Price Per Square Footage (annarborrealestatetalk.com)

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If you live in Ann Arbor or Washtenaw County, the question comes up:

Should You Move or Remodel?

When your house no longer suits you, you can move or remodel. Find out which big change is the right investment of your housing dollars.

Just about everything else—remodeling costs, the hassle of living in a construction zone, or the ability to live happily without one more bathroom–is a personal preference. After all, your home isn’t just your largest investment; it’s also the place where your family lives.

1. Will remodeling make your home better than everyone else’s?

To make the right move-or-remodel decision, you have to know:

• Your home’s value. Easy. Just ask a REALTOR® to estimate it and tell you how it compares with the value of the other homes in your immediate neighborhood. Ask her what she thinks your house will be worth after the improvements, too.

• Your neighbors’ home value. Hit some open houses. Seeing the inside of area homes will inspire you; help you make good choices about finishes, room sizes, and how much to spend; and, admit it, entertain you.

• Your remodeling costs. Once you’ve got your renovation vision, get a quote from a home improvement contractor or, if you’re remodeling it yourself, tally the costs of the items on your supplies shopping list.

Then add the remodeling costs to the value of your home. If the number you get is more than 10% above the average value of homes in your neighborhood, you’re over-improving and probably won’t be able to sell for what you put into the remodel.

Here’s why: No one wants to buy the most expensive home on the block (your home) if they can spend the same money to get a similar home on a block of higher-priced homes. Would you pay $200,000 to live on a block where all the other homes are valued at $100,000? We hope not.

Make home improvements that are typical for the neighborhood. Don’t put granite countertops in a trailer, and don’t put laminate countertops in a Trump Tower condo. Your tour of open houses gives you a chance to verify that your planned remodel isn’t an over- or under-improvement for the neighborhood.

2. Do you love where you live?

Want to keep your kids in the same school district, but can’t find or afford a bigger, better house? Love the neighbors? Have an easy commute to work? Stay put. If you’ve soured on the traffic, the neighborhood’s crime rate, or the nosy neighbors, move on.

3. Do you have room to expand?

If your remodeling plans include increasing the overall size of your home, the size of your lot may be the deciding factor in whether to move or remodel. If you live in a 1,500 sq. ft. ranch on a 3,000 sq. ft. lot, you might be able to add a second story to turn it into a 3,000 sq. ft. two-story, but you’re not likely to add 1,500 sq. ft. at ground level. And if you have a septic tank and well, the location of those will limit how and where you add onto your home (or cost you a bundle to move).

4. Can you afford to move?

Consider these moving costs: sale costs for your existing home, shipping your household goods, buying window treatments and possibly furniture for the new house, costs to fix up your existing home before sale, higher utility costs (if your next house is bigger), insurance cost differences, and property taxes.

Visit houselogic.com for more articles like this.

By: Dona DeZube

Published: August 24, 2010

© Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

Townships and Villages Around Ann Arbor (annarborrealestatetalk.com)

Search the Ann Arbor Area MLS for active, up to date homes for sale.

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What price per square footage are homes selling for in Saline, MI?

Below you will see two graphs, one from Altos Research and one from Affinity Valuation Group, in Ann Arbor. I remember when Saline was very consistent in the price per square footage, it was $150.00 to 4152.00 per square foot. I worked with an engineer to purchase a home in 2006 and he had every house we looked at in Saline on an excel sheet. Sure enough it was consistent all across the board.

These two different opinions are very close between $119.00 and $122.00 per square feet.  One of the primary things appraisers look at when they are appraising a property to sell is square footage and they try to get homes as close as possible to based on the square footage.

Appraisers look at different variables but this is a big one. If you are selling your home in Saline, this is important to keep in mind.

Buying a home in Saline, Michigan?  This should give you a good idea of what you should be paying per square footage?

Selling a home in Saline, Michigan? This is where your home should be competitively priced.

How long do short sales take in Ann Arbor is a question I get asked quite a bit.

The answer is it depends.

Depends on the bank…

Depends if there is two loans…

Depends if the agent knows what the heck they are doing…

One of the first things we do on the Missy Caulk Team is collect EVERYTHING the bank(s) are going to require UP FRONT.

It is called the “Short Sale Package” and includes, last 2 pay stubs, hardship letter, last 2 years of tax returns, authorization forms and financial work sheet.

Once we have collected this from the sellers, we label each page with the sellers last name, the loan(s) numbers and the last 4 digits of the sellers Social Security numbers. This goes on every single page, because banks are known for loosing them.

Then we wait for the offer to come in. Once it does, we send it off to the bank with the whole Short Sale Package.

After this it is out of our control.

But, we were prepared and ready to go to do our part in moving the Short Sale Process along.

If you are upside down on your mortgage don’t bury your head in the sand, call us today. 734-926-9797