Ann Arbor Real Estate Talk

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

This came to my attention when Realtor Magazine posted this article on Pregnant woman being denied loans.

Then my friend Erica Ramus posted about it on Active Rain, but not at the mortgage application but near the end of the loan approval process.

Thankfully HUD announced they were going after the banks that were doing this in their weekly update:

HUD Secretary Shaun Donovan said, “Lenders have every right to ascertain the incomes of families to determine whether they are eligible for a mortgage loan but they have no right to use a pregnancy or a short-term disability as a cause to deny that family a mortgage they would otherwise qualify for. Having a child should be a time for a family to celebrate and must not be a cause for unfair lending practices.”

If this happens to you, please get up and walk away. We have good local Ann Arbor Area lenders who would not discriminate against pregnant or or “hope to be” pregnant woman.

You can also contact: Brian Sullivan, HUD
(202) 708-0685

Flickr photo credit

I found this funny little YouTube video on pushy Realtors.

Missy Caulk & TEAM in Ann Arbor Michigan area is not pushy, it is your home, your finances and you have to love the house or we keep looking.

This is one reason why we love Social Media so our future clients can get to know us better, trust us and want to do business with us.

Enjoy and have a great weekend.

Ann Arbor was ranked 3rd in the best cities for college grads by the Daily Beast.

They analyzed the results of a Gallup survey of some 28,000 Americans in their 20s. Jobs are clearly important—but just as clearly, they’re not all-important. When asked what would keep them in their current location, twentysomethings ranked the availability of jobs second.

According to the article what twentysomethings value most in meeting people and making friends.

Hummmm………we’re not much different are we?

For more information on the nine statistical indicators used in the study you can read the entire article here.

One of the things they didn’t address in the study was affordable housing... stating post college kids could rent or live together. Not sure I agree with that as a licensed Broker in Michigan. I have found most are ready to own and settle down once they have graduated.

Regardless, glad Ann Arbor can now has  affordable housing.

I have a new tool, I want to share with you. It is a way to take a quick peek at the market data in Ann Arbor and Saline.

When you click on the Google Map, it will give you a quick snap shot of the market trends for those areas. If you want a more detail report you can just add your email address and get the full report.

So how is the Ann Arbor Market?

Single family homes….medium price is up; inventory is down.

You can slide the bottom part of the graph to see where we were a few months ago.

Condo Market…medium prices up…inventory down.

Search Ann Arbor Houses for sale.