Renee Rienas Badall

Hi Ruth,

There are several large parcels of vacant land on Zeeb Road and all of them are listed by Surovell. I think the one you are speaking of is listed as 49.11 acres, 5665 Zeeb Road at $595,000. I have on my desk right now, 2 parcels with the same tax ID and a third with differfent tax ID. The other two are 37.05 and 40 acres. I would be happy to assist you so that you have exclusive representation with a buyer agent and not the seller's agent (who obviously works in the seller's best interest. You can reach me at ReneeBadall@gmail.com or 734-754-3221. - Thu Oct 2 2008, 11:24

Yes, this property is still available for sale. The price was reduced to $177,900 on 9/16, no doubt in an effort to stimulate showings and offers AND, it will probably do so. This is a very competitive price (below the competition) for brick ranches in this area. I'd be happy to do a CMA (comparative market analysis) on this property if you would like. - Sun Sep 28 2008, 15:55

Hi Chris,
So you're about to purchase your first home! Congratulations, what an exciting and rewarding process you are about to begin.
My advice to you is to interview at least 3 Realtors to find out how they will work with you and what will be the best fit. Once this is established, ask for their recommendations for a reputable mortgage lender. I'm sure you're well aware of the skepticism hovering over the mortgage industry today. A good Realtor will provide you with a list of reputable lenders that you can interview. Let me caution that you shop for service as well as interest rates, and, get a written “Good Faith Estimate” which they are required to provide you by law. Under the guidelines of Buyer Agency, your Realtor pledges to work in your best interests. I am especially fond of working with first time buyers. Please look at my website to see how I work with Buyers, and, if I can help you in any way, feel free to call or email me. My contact info is right there on the website! Good Luck! - Wed Jul 23 2008, 12:34

Dear John,
If you purchase a foreclosure, most likely, it will be priced under what similar properties in the same area are. This is because the bank is not in the business of holding properties -- they want to get rid of them! At closing, your escrowed taxes will be based upon the current taxable value of the property. Next spring, when the assessments come out, the value will be based on 50% of the property's value. This value is based upon not only 50% of the sale price, but upon the value of similar properties -- square footage, similar features, etc. A bank-owned property, selling below market value, does not reset the tax structure for a given area. HOWEVER, Washtenaw County will see property asessments decrease this year, and according to the Ann Arbor News (2/17/08), it will be "the most widespread drop in 25 years."
Every year, assessors calculate home values based on the sales of homes in a neighborhood during the previous one or two years. Homes are assigned a state equalized value (SEV), which is 50 percent of average market value. Municipalities must calculate a taxable value for each property, which is equal to the SEV a year following the sale of the house. Taxable value can increase as property value increases, but since 1994, Proposal A has required municipalities to limit taxable value increases to the rate of inflation or 5%, whichever is less. For property owners who only recently purchased their property, "they will probably pay less in taxes [Ann Arbor News, 2/2007]." I'd be happy to saend you the article, just drop me an email. Check out the link to my email in the link below. - Mon Jun 23 2008, 12:54

Hi Bart,

If you are going to be here for 4-5 years, I recommend buying. If you are only going to be here for 1-2 years, NO -- rent. We are beginning to see a turn around -- a gradual turn in the market, especially in Washtenaw County. Go to mLive.com for Ann Arbor (it is the on-line version of the Ann Arbor News, and put in the keywords "Home Sales Jumped in May," and read the article. Numbers were up 24% from May of 2007. Prices, however, are still stagnant, so it is an opportunity for you and your wife to still get in low. Think about it and let me know if I can answer any questions for you and your wife. - Mon Jun 16 2008, 11:31

Here's a little more information on 809 Gott Street, Bart - Mon Jun 16 2008, 05:51

Hi Bart,
809 Gott is currently off the market. I'm curious -- how is it that you know about this area? Are you from here, or did you go to school here? I have found another property on Gott that is also listed at a great price. - Mon Jun 16 2008, 05:45