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Will Skyline High School Change the Intersection at Miller and Maple Roads?
2008-04-30 06:44:00
This quiet Ann Arbor intersection will likely see some changes in the near future.The recently completed Skyline High School is just one mile north of the currently vacant Miller /Maple intersection.  However the fall beginning of school promises to change that status.  There are already plans for an office/residential complex on the northwest corner and a new retail space is already almost ready on the southwest corner.  Marathon Oil is taking bids for the vacant gas station.  There is no decision yet on whether or not that parcel should remain a gas station and any bidders must submit their business intentions.  There are also plans out there to create a large medical office building with some residential spaces above.  The prospective Medical tenants are already lining up.The retail space on the southwest corner will likely become one or several food users however with only 11 spaces, parking is an issue.  Across the street, the Miller Maple Plaz...
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New Real Estate Listing in Dexter, Michigan
2008-04-11 17:14:00
Move in ready!5918 Dexter Pinckney Road, Dexter, MI Bedrooms: 3 Bathrooms: 2 Square Feet: 1834  Move in ready! A recent doorwall, new carpeting, recent Pergo flooring, a newer roof, and fresh paint are among the updates made. A vaulted ceiling and large window make the living room bright and open! A wonderful skylight can be found in the family bath, providing plenty of natural light.  Relax after a long day in the nice sized master bedroom. The study is perfect for your own home office. All this is situated on a picture perfect setting that is set far back from the road, complete with a quiet back deck overlooking an amazing private yard that sellers out did themselves with.  Click here to search all listings in Michigan with pictures and tours - FREE! Kathy Toth and Team www.KathyToth.com_bottom__bottom__bottom@ 201426 See AlsoSee Extra Photos and a Virtual Tour for 5918 Dexter Pinckney RoadVisit our website for an in-depth property detail pageLooking For More...
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Dexter Community Events, Activities and Information
2008-04-10 12:34:00
Take a look at what's happening in Dexter , Michigan during the month of April__top@199701__top_top__top@196374__t op_top4/7- Site Plan Submittal Deadline-Time: 4:00 PMCategory: Village of Dexter - Planning CommissionRecurrence: Occurs the First Monday of every monthDetails: Site Plan submittal is required for next months meetingLocation: Village Offices 8123 Main Street, Dexter, MI 48130Directions: Second Floor of National City BankContact Information :Allison BishopCommunity Development Manager/Zoning8140 Main StreetDexter, MI 48130734-426-8303amenard@villageofdexter. org 4/7 -Planning Commission Regular Meeting-Time: 7:30 PM - 10:00 PMCategory: Village of Dexter - Planning CommissionRecurrence: Occurs the First Monday of every monthLocation: Senior Center 7720 Dexter-Ann Arbor Street, Dexter, MI 481304/9 -Chamber Board of Directors and Community Advisors Meeting-Time: 7:30 AMCategory: Chamber of Commerce - Other Events Recurrence: Occurs the Second Wednesday of every monthLocati...
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New Real Estate Listing in Dexter, Michigan
2008-03-03 14:17:00
Welcome home to this two-story Colonial home nestled in the heart of Dexter 3560 Lexington Circle, Dexter, MI Bedrooms;  4Bathrooms:  2.1 Square Feet:  2109 Welcome home to this two-story Colonial home nestled in the heart of Dexter, offering four bedrooms and an open layout.  Upon entering, you and your guests are greeted in the foyer complete with gleaming hardwood flooring leading you to the formal living and dining rooms,an ideal layout for entertaining.  Hardwood flooring also extends from the chef’s kitchen into the breakfast area with a glass sliding door leading to the beautiful brick paved patio and yard.  Warm and inviting, the family room features a wall of sun-filled windows and a fireplace with gorgeous mantel and surround.  Double doors lead to the serene master suite boasting a tray ceiling along with his and her closets. Deluxe master bath offers a Jacuzzi tub and separate shower. You’re sure to love the incredibly finis...
More About: Estate , Real Estate , Michigan , Real

Study: State of Nation's Home Values...Including Ann Arbor, Michigan
2008-02-29 15:01:00
How did homes in your Ann Arbor fare?Study : Home prices post huge biggest median The National Association of Realtors releases home values quarterly. Values have fallen six quarters in a row. How did home values fare in your state?Home values fell in most of the country. How did they fare in your state? Cost of living comparison Should you move? Calculate dozens of variables to see if it makes good sense moneywise. Buy or rent next home?With home values falling, it may make sense to rent your next home.  Mortgage payment calculator Buying a house? Calculate your payment and see your amortization schedule.Click Here to view Study: Home values fall article Click here to search all listings in Michigan with pictures and tours - FREE! Kathy Toth and Team www.KathyToth.com Real Estate OneSee AlsoOver the Net Home EvaluationVisit Our Website to Get This Week's Local Market ConditionsWant To Know What Your Neighbors House Sold For?Believe it or not, this is not being nosy, it's be...
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Do's and Don'ts for Fending Off Foreclosure in the Ann Arbor Real Estate Ma
2008-02-28 15:41:00
There is still ways to keep your Ann Arbor home...The Bankruptcy Adviser By Justin Harelik Bankrate.comEven after your lender sends a default letter, there are still ways to keep your house. There are also ways to make the situation worse, warns the Bankruptcy Adviser.7 possible do's when foreclosure looms: 1.     Sell the property.    2.     Work out a deal.   3.     Refinance with a subprime lender.   4.     File Chapter 7 bankruptcy.    5.     File Chapter 13 bankruptcy.    6.     Short sale/deed in lieu of foreclosure.    7.     Walk away from the house. 2 don'ts when foreclosure looms: 1.      Signing over your property title to another company.2.      Taking a high-interest second mortgage.Click Here to view the article in it's entirety, the...
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HGTV's House Hunters in Ann Arbor Once Again...
2008-02-27 14:07:00
Real Estate One finds another home for a local couple If you want to watch us on House Hunters on HGTV, tune in:Friday, February 29th at 10:00 PM ET/PT Homeowners Once Again : Episode: HNT-1806 Judy and Ken Castagna decided to try life in a condo. After living in their attached Ann Arbor , Mich., condo for only a year, the couple has decided that they are just not condo people. So, now they are looking to move back into a home with the help of real estate agent Vicki Larmee. They would like considerable privacy, a large yard and plenty of space for when their granddaughters come to visit. Click here to search all listings in Michigan with pictures and tours - FREE! Kathy Toth and Team www.KathyToth.com Real Estate OneSee AlsoHow To Choose The REALTOR ® That Fits You BestThis report will help you to know what to look for in a Realtor that will keep your best interest before themKeys To Finding The "Right" Home...One very important step is often overlooked - scouting out neighborh...

Understanding The Current Ann Arbor Housing Market
2008-02-26 06:12:00
Kathy Toth to provide keynote speech at Cedars of Dexter seminarWhat: Preparing to Sell Your Home in Today's Market When: Wednesday, February 27th, 9am - 4pmWhere: Chelsea Comfort Inn Conference Center, 1645 Commerce Park DriveSeminar Schedule:9:00 - 10a:00 am - Understanding the Current Housing Market10:15 - 10:45am - Insights From Local Real Estate Agents11:00am - 12:00pm - Financial Planning for Your Future1:00pm - 2:00pm - Staging Your Home for a Quick Sale2:15pm - 3:15pm - Repositioning Assets of Value3:30pm - 4:00pm - Overview of the Cedars of Dexter ProjectJoin Kathy at the Chelsea Conference Center for this educational one day seminar!  You'll get lots of great information and a introduction to the new Cedars of Dexter project.  The Cedars of Dexter is a community for adults 60 and better.  Developed by the United Methodist Retirement Communities, this luxury community provides craftsman style luxury cottages and low-maintenance living.  Community amenit...
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WHAT FIRST-TIME HOMEOWNERS NEED TO KNOW
2008-02-25 22:02:00
If you are interested in buying your first home, don't allow myths to discourage you from tryingIf you are interested in buying your first home, don't allow myths to discourage you from trying.  With home prices increasing, it's a little more difficult for first-time homeowner simply based on price. However, with so many options available, that doesn't mean you can't qualify for a mortgage loan. You just need to know what to plan for and what questions to ask.Studies show that many potential homeowners believe they can't buy a house when, in fact, a strong possibility exists that they can. Close to 15% of people living in the United States state they would like to buy a home within the next few years but believe that it’s impossible from a financial perspective. Another 10% state they can afford a home but for other reasons, probably won't buy for a while.Here are some myths:·  In order to qualify for a house, you need 20% down·  Lenders are...
More About: Time , First Time , Homeowners

SHORT SALES in The Ann Arbor Real Estate Market....
2008-02-22 13:24:00
What is it, When should I get started, Why will it help me and Who Should I call?A short sale is where the lender forgives a portion of the debt. Many good folks have found themselves with declining home values and rising mortgage payments. Some mortgagee's will accept less than is owed through a short sale, in place of taking ownership of a home back through foreclosure. Why would the lender do this? They can avoid the lengthy time delay of up to one year in Michigan to get the property back. They can avoid the legal costs and remove the property from their asset management portfolio. The lender is ultimately not in the business to manage properties. And in areas of declining values, the property may be worth less as they hold it. We have previous posts about Short Sales in the Ann Arbor Area and can provide a packet of information via email for you to review with your legal counsel. If you or someone you know is going to miss upcoming mortgage payments or has started the foreclos...
More About: Estate , Real Estate , Real Estate Market , Market

Foreclosure & Bank-Owned Properties
2008-02-21 22:08:00
Interview with Rick Sharga, VP of Marketing for RealtyTrac.comRealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties.This Bloomberg video was posted Feb 18th, interviewing Rick Sharga, www.RealtyTrac.com President of Marketing.RealtyTrac posted the actual foreclosure ranking for 2007 for the Top Metro Foreclosure s in this chart: with Detroit at the top of the list, ranked by numbers of foreclosures per household.Economists by the FDIC estimate foreclosures will be 1,000,000 more than average in 2008. Click here to search all listings in Michigan with pictures and tours - FREE! Kathy Toth and Team www.KathyToth.com Real Estate OneSee AlsoView Foreclosure and Bank -Owned Properties Visit Our Website To View Foreclosure and Bank-Owned PropertiesFor More Information Visit Our WebsiteFor More Information Visit Our Website

Lenders Stall Foreclosures & 888-995-HOPE discussed at Family Law meeti
2008-02-20 14:17:00
Help for Ann Arbor Area Pre-Foreclosure Home OwnersThis Friday at noon at 200 N Main St Ann Arbor, Michigan, I am speaking at The Family Law Section to discuss when The Marital Asset Becomes a Liability. Part of the discussion will be offering options available like the option below, imputed rental value, unique marketing, and short sales. One quarter of the sellers who call us, it seems, are candidates for lender workouts, short sales, or foreclosures. Our goal is to assist and educate in the process so Ann Arbor homes sellers adopt the best option for them, based on their attorney suggestion.  We will discuss tax implications including the Mortgage Foregiveness Debt Relief Act of 2007. Six major lenders have agreed to allow seriously overdue (90 days or more days past due) home owners to suspend foreclosures for 30 days, giving them time to work out affordable loans. The lenders are: Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., JPMor...
More About: Foreclosures , Hope , Lenders , Family Law

Ann Arbor Accepting Bids for Parcel Redevelopment
2008-02-20 06:13:00
The City of Ann Arbor is now accepting development bids for 415 Washington StreetThe City of Ann Arbor has opened the doors to receive bids for the 415 Washington Street parcel.  The invitation encourages re-use of the two-story building on-site and calls attention to necessary storm water management.  Development objectives outlined include:Clearly defined public benefits such as space for civic eventsPublic greenway linkageFlood risk mitigationEnvironmental concerns and energy efficiencyHistoric preservationTwo community groups have already expressed interest in the site: The Kiwanis Club of Ann Arbor and the Ann Arbor Arts Center.  While Kiwanis has no clear plans, the Art Center has offered many ideas.  They'd like to re-use the building and garage to house a gallery, studio and office space as well as public events, artist workshops and a small park with greenway through the property.  The city plans to seek fair market value for the property.  Pr...
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Ann Arbor Area Board Reports Market Data for January 2008
2008-02-19 18:28:00
See what is happening in the Ann Arbor Real Estate Market Year to DateThe January statistics for real estate sales in the Ann Arbor Area  Board reports a soft, stabilizing market with residential sales declining 15 units. Condominiums declined by12 units. Condominiums show an increase of $8,340 or 5.38 percent in Median Sales Prices, over January 2007.*Effective April 2007 – Rental properties are no longer included in the statistics published by the Ann Arbor Board of REALTORS®. To provide a true comparison, rentals have been removed from the January 2007 data.              Ann Arbor Board Of Realtors MLS Sales Report Click Here to view table in full screen Click here to search all listings in Michigan with pictures and tours - FREE! Kathy Toth and Team www.KathyToth.com Real Estate OneSee AlsoThe Home Buyer ProcessYour are ready to buy, so let's talk about what to anticipate and how to be ready fo...
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MICHIGAN ECONOMY OFF AGAIN IN DECEMBER
2008-02-18 19:32:00
Reports Comerica Bank’s Michigan Business Activity IndexDetroit / January 31, 2008 - The Michigan Business Activity Index compiled by Comerica Bank fell 1 point in December to 101, matching the low for 2007 set back last January.  For the year as a whole, our index has averaged 103.6, down 0.7 percent from the average for all of 2006."For the past several years, most of the distrss in the Michigan economy resulted from the direct or indirect impact of the restructuring in the state's auto manufacturing sector," said Dana Johnson, Chief economist at Comerica Bank.  "More recently, the weakness caused by those structural adjustments is being reinforced by the credit crunch and the spillover from the sharp slowing of the national growth."Comerica Incorporated (NYSE:  CMA) is a financial services company strategically aligned by three business segments:  The Business Bank, The Retail Bank , and Wealth & Institutional Management.  Comer...
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National Association of Realtors® Profile of Home Buyers and Sellers of 20
2008-02-17 06:00:00
You are invited to Share Your Experience with your Ann Arbor Real Estate Transaction.NAR mailed an eight-page questionnaire in August 2007 to a national sample of 150,000 home buyers and sellers who purchased their homes between July 2006 and June 2007, according to county records. Most sellers continue to value full-service brokerage, where real estate agents provide the full range of services to manage the entire process of selling a home. Limited services, which may include discount brokerage, and minimal services also are important business models for sellers who want to take an active role in the process such as holding open houses, advertising, contacting potential buyers, negotiating terms, hiring an attorney, arranging for clear title, or preparing the contract. All of these services are provided by Realtors® as well as non-member agents and brokers. The study finds 81 percent of sellers use full-service brokerage, 9 percent choose limited services and 9 percent use mini...
More About: National , Home Buyers , Home , Profile , Association

Ann Arbor Development Update
2008-02-17 05:31:00
While some wait for milder weather, other Ann Arbor developments are nearing completionThe site on North Main which currently contains the former Greek Orthodox church is soon to become home to a new Concannon project.  The city-approved Gallery will be a mixed-use, two building, 30 million dollar development.  With cold temperatures and increasing amounts of snow, developer Michael Concannon has decided to wait for milder weather to begin the project and raise the church.  The Gallery's four-story smaller building will be constructed first.  Currently there are already 30 reservations on Gallery residential units.Ashley Terrace, located at the Northwest corner of Huron and Ashley Streets, is now nearing completion.  This 10-story, mixed use project has been underway since early 2006.  The first units will be delivered to new buyers next month.  So expect to see a bustle of activity at Ashley Terrace!  Liberty Lofts and Loft 322 are also bust...
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National Association of Realtors® Profile of Home Buyers and Sellers of 20
2008-02-16 06:00:00
What has your Ann Arbor Real Estate experience been like?NAR mailed an eight-page questionnaire in August 2007 to a national sample of 150,000 home buyers and sellers who purchased their homes between July 2006 and June 2007, according to county records. It generated 9,966 usable responses; the adjusted response rate was 6.9 percent. All information is characteristic of the 12-month period ending in June 2007 with the exception of income data, which are for 2006. Due to rounding and omissions for space, percentage distributions for some findings may not add up to 100 percent.According to the survey, the most important factors in choosing an agent for buyers are honesty and integrity, followed by the agent’s reputation. Other important qualities buyers value in an agent include knowledge of the purchase process and responsiveness. For sellers, the most important factor in choosing an agent is reputation, followed by honesty and trustworthiness. You can check this out by calling...
More About: National , Home Buyers , Home , Profile , Association

Now is the Best Time to Buy a Home in Ann Arbor, Michigan
2008-02-15 17:48:00
High Inventory + Low Interest Rates = Great InvestmentFebruary 2008 Ann Arbor Real Estate PodcastThis month's edition covers Ann Arbor real estate market activity and then we'll talk about how low interest rates and higher housing inventories make today one of the best times in recent memory to invest in real estate. Features special guest Terri Murphy of US Learning. Program length: approximately 5 1/2 minutes Click here to search all listings in Michigan with pictures and tours - FREE! Kathy Toth and Teamwww.KathyToth.comReal Estate One See AlsoAnn Arbor Bank Owned PropertiesPlease visit our website if you are interested in information regarding foreclosures, real estate investing or short salesAre you facing foreclosure?Visit our website to find a better way out!
More About: Time , Home

2007 National Association of Realtors® Profile of Home Buyers and Sellers
2008-02-14 06:00:00
How do you as an Ann Arbor Area Real Estate Seller Compare?The median age of a home seller is 45, with an income of $89,400. Seventy-five percent are married couples, had been in their home for six years and moved a median distance of 18 miles. Their home was on the market for seven weeks, up from six weeks in the 2006 survey; 89 percent were satisfied with the selling process. The typical seller sold their home for 97 percent of the listing price, and 55 percent reported they had remodeled or made improvements within three months before placing it on the market, spending nearly $3,000 on the project. If you are looking to get top dollar as a Seller, take advantage of our Staging before making unnecessary improvements: more info on Staging can be seen here.Most sellers expect an agent to market the home, with 90 percent of sellers reporting their home was placed on a MLS and 88 percent saying their home was listed on the Internet; eight in 10 had yard signs. For our Unique Seller Se...
More About: National , Home Buyers , Home , Profile , Association

Ann Arbor Family is Grateful for the "Speed" of Their Real Estate Agent Kat
2008-02-13 06:00:00
3863 W. Loch Alpine...Come see this meticulous home! SOLD!!!3863 W. Loch Alpine, Dexter, Michigan  Bedrooms: 3Bathrooms: 2Square Feet: 1403The Ann Arbor real estate market has been challenging.  In spite of the challenges many Sellers face, this is a hands on report provided from an Ann Arbor Seller family of Loch Alpine that they want me to share.Forgive the shameless plugKathy TothFrom the Merriam-Webster Online Dictionary:Main Entry: 1speed Pronunciation: ˈspēd Function: noun Etymology: Middle English spede, from Old English spēd; akin to Old High German spuot prosperity, speed, Old English spōwan to succeed, Latin spes hope, Lithuanian spėti to be in time Date: before 12th century 1archaic : prosperity in an undertaking : success2 a: the act or state of moving swiftly : swiftness b: rate of motion: as (1): velocity 1 (2): the magnitude of a velocity irrespective of directio...
More About: Family , Agent , Estate , Real Estate , Real Estate Agent

2007 National Association of Realtors® Profile of Home Buyers and Sellers
2008-02-12 06:00:00
How are you looking for a home in the Ann Arbor Real Estate Market?Buyers used many resources: 84 percent use the Internet (up from 80 percent in 2006), 84 percent use a real estate agent, 59 percent yard signs, 50 percent print or newspaper ads and 48 percent attend open houses. Smaller categories include a home book or magazine, home builders, television, billboards and relocation companies. Buyers usually start their search online, and then contact a real estate agent. Where did buyers first learn about the home purchased? Thirty Four percent of buyers identified a real estate agent; 29 percent the Internet; 14 percent from yard signs; 8 percent from a friend, neighbor or relative; 8 percent home builders; 3 percent a print or newspaper ad; 3 percent directly from the seller; and 1 percent a home book or magazine. See the chart below to discover the significant trend whereby there is more reliance on the internet over time to find a house.  So choosing an agent with massive ...
More About: National , Home Buyers , Home , Profile , Association

2007 National Association of Realtors® Profile of Home Buyers and Sellers
2008-02-11 06:00:00
What is the Profile of the First Time Buyers?The number of first-time buyers is up to 39 percent from 36 percent of closings in 2006. The median age of first-time buyers was 31, and the median income was $58,600. The typical first-time buyer purchased a home costing $165,000 and plans to stay in that home for seven years. The median down payment by first-time buyers was 2 percent, but 45 percent purchased with no money down – the same as in 2006. Of first-time buyers who made a down payment, 73 percent used savings and 22 percent received a gift from a friend, relative, or parents, usually from the latter. For Must Know Facts for First Time Home Buyers , click here.I would imagine that since the credit crunch, there will be less zero down buyers in the next National Association of Realtors® Survey.  There are still great financing options available in the Ann Arbor Real Estate Market.  Feel free to call our preferred lender, Jennifer Marshall, Chase Mortgage at 73...

Can We Solve the Problem of Ann Arbor Affordable Housing?
2008-02-11 02:35:00
The City of Ann Arbor is looking for viable affordable housing optionsAnn Arbor affordable housing needs provide a tough dilemma for city task masters to solve.  Considering the fact that the downtown core is home to some of the most highly coveted real estate and urban developments - it seems not many options exist.  This was a hot topic of conversation in a recent Ann Arbor public information meeting.  How can the city create a vibrant, booming downtown core and yet still provide affordable options for workforce living?  The city department of Housing and Human Services is calling on the community for help.  They are seeking local opinions about these matters.  Specifically whether they should recommend the creation of 100 new units in the William Street Station development, at the site of the former YMCA building or elsewhere.  The board also seeks to find an answer to the areas of concentration for such units.  Should they r...
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NAR 2007 Survey Shows Consumers Very Satisfied With Real Estate Agent Perfo
2008-02-10 06:00:00
What are your thoughts about consumer satisfaction with Ann Arbor Real Estate Agent s?An updated consumer survey from the National Association of Realtors® shows that buyers and sellers are very satisfied with their real estate professionals. Home buyers use many resources during the transaction, and both buyers and sellers value the personal touch and services real estate professionals offer. The 2007 National Association of Realtors® Profile of Home Buyers and Sellers, based on nearly 10,000 responses to a questionnaire mailed to a national sample of consumers, is the latest in a series of NAR surveys evaluating demographics, marketing, preferences and experiences of home buyers and sellers. According to the survey, it shows that 79 percent of home buyers and sellers used a real estate professional, up from 77 percent over the past three years, and nearly 90 percent of buyers were very satisfied with their agent’s knowledge of the process. More than eighty percent of ...
More About: Real Estate , Real Estate Agent , Survey

New Ann Arbor Real Estate Listing at Liberty Lofts – SOLD!
2008-02-09 06:00:00
Gorgeous new condominium in Liberty Lofts is an exceptional value! 315 Second Street #207 is not to be missed.     &nbs p;      &nb sp;      &n bsp;      & nbsp; I called Kathy to market my Liberty Loft because I saw she sold a neighbor’s property. She sold it for 98 percent of asking price in 53 days. She and her team communicated with me constantly. I will recommend them to everyone I can.Barbara Ricci               ;      &nbs p;      315 Second Street #207 Bedrooms: 1Bathrooms: 1.5Price: $270,000Loft living at its best in downtown Ann Arbor. Interior features include exposed ductwork, beautiful granite countertops, hardwood flooring, a breakfast bar, and a wall of windows with roll-down blinds for privacy without losing the light. This can all b...
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Ann Arbor News Citizens of the Year Announced
2008-02-08 22:46:00
The Wiseleys of Dexter received the honor for their Honor Flight Network  Ann Arbor News Citizens of the Year were announced. The Wiseleys of Dexter received the honor for their Honor Flight Network. They raised money and recruited volunteers to fly World War II veterans to the World War II Memorial in Washington, D.C. Click Here to watch the video  to discover the Wisely contribution to Vets in our area. The news donated $1,000 to a fund administered by the VA Ann Arbor Healthcare System to help homeless vets. As reported by Lynn Monson of the Ann Arbor News, they've organized dance nights, silent auctions, a Rosie the Riveter dinner and dance event, a golf outing, several bottle deposit drives. And they're still at it. For this year, they have scheduled a USO-like dinner and dance with a swing orchestra at the Dexter Knights of Columbus Hall on March 15. There's a golf outing set for May 10 at Reddeman Farms and some restaurant fundraisers in the works. How to ge...

National Association of Realtors® Profile of Home Buyers and Sellers Repor
2008-02-07 17:40:00
If you bought an Ann Arbor home last year, or are buying one this year, what was/is your profile?At 39 years old, the typical home buyer is two years younger than in 2006, earned $74,000 and purchased a home costing $215,000.  Buyers looked eight weeks and visited 10 homes before making a choice. Sixty-two percent of buyers are married couples, 20 percent are single women, 9 percent single men, 7 percent unmarried couples and 2 percent other. Nine percent were born outside of the United States, and 5 percent primarily speak a language other than English. The typical repeat buyer is 46 years old, earned $85,700, purchased a home costing $250,000 and plans to stay in that home for 10 years. Repeat buyers made a median down payment of 16 percent, the same as in 2006, but 10 percent paid cash for their property. Of those making down payments, 60 percent used equity from their previous home. Our board average for homes sold in 2007 was $250,286.00. Our team was involved in 43 buy...
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National Association of Realtors® Profile of Home Buyers and Sellers of 20
2008-02-06 17:08:00
Would you utilize a Buyers Agent in your Ann Arbor Real Estate Search? Buyers responded about benefits provided by agents: 57 percent of buyers said they helped them understand the process, 47 percent said their agent pointed out unnoticed features or faults with the property, 40 percent reported the agent improved their knowledge of search areas, 38 percent negotiated better contract terms, 37 percent offered a better list of service providers, 35 percent shortened the search process, and 32 percent got a better price. I would say last year was a huge opportunity for buyer clients to align with a professional to get access to insider information and negotiate savings. We saved the Peltons $70,000 and Nandor almost $300,000. Another family who bought on Wheeler saved $70,000. The latter house was on the TV show House Hunters almost 3 years ago. I represented that Seller and brought a non contingent offer at $349k which he turned down. Over 2 years later in 2007, we b...
More About: National , Home Buyers , Home , Profile , Association

2007 National Association of Realtors® Profile of Home Buyers and Sellers
2008-02-05 16:01:00
How does your Ann Arbor Area Real Estate Buyer Profile Compare?Of buyers who used an agent, 62 percent chose a buyer’s representative. Two-thirds said their agent was compensated by the seller, 15 percent of agents were paid by the buyer and 9 percent were paid by both. Nearly three-quarters of all buyers purchased a detached single-family home, 11 percent a condo, 9 percent a townhouse, and 5 percent some other kind of housing; 77 percent of respondents bought an existing home and 23 percent purchased a new home. More than three-quarters believe their home will perform at least as well as stocks. The median distance from the previous residence was 13 miles. Fifty-six percent of all homes purchased were in a suburb or subdivision while 16 percent were in an urban area, 16 percent in a small town, 10 percent in a rural area and 2 percent in a resort or recreation area. The biggest factors influencing neighborhood choice varied by household type, but overall they were: qualit...
More About: National , Home Buyers , Home , Association