Real Estate Information

Take a look at this old movie and see Sleeping Bear Dunes, Traverse City, Mackinac Island as they used to be. 

http://www.youtube.com/watch?v=QMR7veI78f8

• The Federal Housing Administration recently boosted its loan limits to $729,750 in expensive areas such as Washington, but it's going to take some of that back come Jan. 1, when the loan limit will shrink to $625,500. If you're going to need a FHA mortgage from $625,500 to $729,750, start touring homes now, and make sure to close by the end of the year.
• Keep an eye on the expiration date for the new tax credit of up to $7,500 for first-time home buyers. It requires that you close on the home no later than June 30, 2009. That may seem like a long way off, but it will loom larger come spring, traditionally the busiest time for real estate sales.”

-- “Plenty to Coax Home Buyers Back To the Market,” by Elizabeth Razzi, Washington Post, Sept. 7, 2008

In Golf Digest's "America's Top 100 Greatest Public Golf Courses", Michigan boasts nine of them.  On that list: 

#10, Arcadia Bluffs, Arcadia,

#14, Tullymore, Stanwood

#20 Forest Dunes, Roscommon

#23 Bay Harbor, Pestoskey

#35 Black Lane, Onaway

#37 Shepherd's Hollow, Clarkston

#40 Red Hawk, East Tawas

#54 Lakewood Shores, Oscoda

#81 Eagle Eye, Bath

And.......................THE BEST NEW COURSE, ranked #3 is ........... The Mines golf Club in Grand Rapids.  Enjoy!!

If you are thinking of buying a new home and haven't sold your current home, the Title Company can now place a Conditional Rescission of a Principal Residence Exemption on your properties: (PRE).  This will provide for both your new home and your previous home, which hasn't yet sold, having the benefit of Homestead Taxes.  Your previous home has to be listed with a Broker, non-occupied, not leased and not used for any business or commercial purpose.  If you have any questions concerning this new Tax Law, give us a call.

Julia 231 534 600

Linda 231 633 2202

Have an Energy Audit conducted on your home.  If you have an energy hog-appliance, it might be worth replacing to save the Planet and your pocket book!  If you have a fireplace, have the chimney cleaned.  If your septic system has not been pumped within two years, have it done.  Clear all dead trees away from the home including branches that shade the roof.  If your basement seems damp, check it out and have a Mold Inspection.  All of these items can be delt with before listing your home.  The above mentioned items are all huge concerns for today's buyers.  Don't let an inspection ruin your chances of a sale within today's market.

1. Know Your Numbers

How much will the house sell for when it is ready? A clear idea of the ARV (after repair value) is necessary to safely make an offer on a property. Don’t just guess that you’ll sell the home for $20,000 more than what you put into it. You don’t decide what a home is worth - the market does, so get advice if necessary. Then subtract from the ARV all possible costs you will have, including price, buying costs, repair costs, holding costs, and the costs of selling. Now subtract the profit you want, and you have the highest price you should pay. Start with an offer lower than this, of course.

2. Schedule Properly

More than a few house-flipping projects have gone wrong due to falling behind schedule. For example, you think you can get the plumber in and out of the house in the first week, but it takes a month, so you can’t close the walls up, and everything else gets behind schedule. Meanwhile your spending $2,000 per month on holding costs like loan payments, utilities, property taxes and insurance. So check before you finalize the offer, to see how long things like windows, plumbing and dry-walling will take. Also, make completion dates a part of any contracts you sign with contractors.

3. First Things First

On one of those “flip a house” programs on television the other night, a young couple was running $10,000 over budget on their first fixer-upper investment (and six weeks behind schedule). They ran out of money and put the house on the market with a crappy-looking yard and stains visible on the front wall. Of course buyers would see these things first, making a bad impression. Avoid this by starting with changes that are most important. Then if you run out of money or time, you’ve already done the things that will make the home sell.

4. Figure The ROI Of Improvements

The ROI or return-on-investment for each possible improvement should determine what you do to the home. You’ll be guessing at times, but the principle is that you do only those things which increase the value of the home substantially more than what they cost. Such high-ROI improvements vary by area and by type of home, but they typically include painting, carpeting, landscaping, and finishing unfinished space. With a small house, you might get new flowers and bushes, fresh paint, and all new carpeting for less than $7,000, and possibly raise the market value of the home by $14,000.

5. Know Your Buyers

A single level ranch in a neighborhood full of retired couples, won’t sell well to young “yuppies.” Know what kinds of buyers are likely to want the home (and neighborhood) before you start. Then, after improving it with those buyers in mind, market it appropriately. You or your agent should identify and advertise the benefits that matter to your buyers, whether this includes “close to stores” or “country living.”

6. Price It Right

Selling fast means you save those holding costs. You may also have other projects waiting for that money. To sell fast, price it slightly below market value - and let buyers know it’s a deal. It may seem that if you sell for $3,000 under market, you’re losing $3,000, but you are possibly saving a couple thousand in the holding costs you’ll pay if it takes an extra six weeks to sell at a higher price. Also, if you are a serious investor, flipping a house fast means getting the money into the next project fast. Buy right, and use the other tips here, and there should be plenty of profit left in any case

Do you wish you had a "how-to" guide to help you decorate your home?  Do you want your home to reflect your sense of style, but lack the inspiration to decorate it yourself?  There aren't any strict decorating rules but the following guidelines may help you create a home environment that is just right for you.

Do:

Keep comfort and practicality in mind

Decorate for your family

Think of all five senses when decorating

Include something living in each room

Pick a favorite piece as a focal point for your room

Don't:

Think that everything has to match

Don't be afraid to think outside the box

Don't place all your furniture against the walls

Think white goes with everything