48105 : Questions & Answers

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Michael Emery, Real Estate Pro in Minneapolis, MN
Michael Emery answered:
How come interest is not paid on Escrow accounts?
Most likely because your state law does not require interest to be paid on escrowed money.
0 votes Share Flag Mon Mar 21, 2011 Financing in Ann Arbor
Renee Badall, Real Estate Pro in Ann Arbor, MI
Renee Badall answered:
Is vacant land selling in Lodi Twp or is it generally staying on the market for a while?
Hi Alex,

Vacant land does have a tendency to stay on the market. This has been especially true during this past buyer's market and ready availability of inexpensive houses to c ... more
0 votes Share Flag Wed Mar 9, 2011 Market Conditions in 48103
David Wallner, Real Estate Pro in Ann Arbor, MI
David Wallner answered:
Outlook for single family student housing on campus with addition of 601 Forest/Zaragon 1&2/411 lofts?
Watch out for the pop-up on taxes for Woodlawn. Of course there is an impact on home prices by an increase in supply but the amount is TBD. There are two opposing forces influencing B ... more
0 votes Share Flag Thu Feb 24, 2011 Rentals in 48104
Pat Daum, Real Estate Pro in 48118
Pat Daum answered:
Can you please let me know the best areas for kids as far as playgrounds/parks and schools? I would also like to be walking distance to the downtown.
There are a couple of neighborhoods that match your description. There are also two "downtown" areas in Ann Arbor. One is the larger central area of downtown (the cross stre ... more
0 votes Share Flag Tue Feb 22, 2011 General Area in Ann Arbor
Kim Smith-Ma…, Real Estate Pro in Wichita, KS
Kim Smith-Martin answered:
We live in CO, My husband got a job in MI for $60K more, we can't sell our house in CO thinking of renting it out can we qualify for home in MI?
The answer here really depends on your equity position in your current home and what you have to put down on your next home. The more equity and the more money the better ! You shoul ... more
0 votes Share Flag Thu Sep 15, 2011 Financing in Ann Arbor
Cicely Brook…, Real Estate Pro in Birmingham, MI
Cicely Brookover answered:
Can't sell my condo, thinking of renting it out. What is the process, what are the important factors to consider?
First check whether your condo by laws permit rentals. Most do, but may ask for at least a year. A Realtor will make sure that the tenant gives you credit/emplyment information so you ... more
0 votes Share Flag Sat Feb 5, 2011 Home Selling in Ann Arbor
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
What comes first pre approval on a mortgage or finding a Realtor?
Consider visiting with any qualified loan officer(s) first, after reviewing your overall financial information, a determination on qualification can be made--the type of loan, how much, ... more
0 votes Share Flag Mon Jan 31, 2011 Home Buying in Ann Arbor
David Wallner, Real Estate Pro in Ann Arbor, MI
David Wallner answered:
i wan t to rent a one bedroom with utilities included in ann arbor/ypsi for around 550 or more or less my email is akil723@gmail.com
Currently there are no residential homes or condos being offered below $600.00 per month. Check with some of the apartment complexes. Contact me if you need a list.

Regards,

Da ... more
0 votes Share Flag Mon Nov 22, 2010 For rent in 48104
Ben Kastein…, Real Estate Pro in Naperville, IL
Ben Kastein and Bob Hudetz answered:
I BOUGHT FORCLOSED HOME CASH AND ADDITONAL CASH TO REPAIR. DOES ANY BANK GIVE MORGAGES FOR PURCHASE PRICE & REPAIR COST?
Bob there are currently some loans that are offered to assist a purchase where rehab is built in and the most common that I'm familiar with that lenders of mine offer is a 203K Loa ... more
0 votes Share Flag Fri Oct 15, 2010 Home Buying in 48108
Derek Bauer,…, Real Estate Pro in Livonia, MI
Derek Bauer, Door to Dreams... answered:
Upside down my mortage fixed 5.875 owe $475k. To refinance to lower rate will need 145k upfront. Is it better to refinance or pay $900/month extra?
That is only a decision you can make. If you have the $145,000 required to close on a refinance, then you and your financial planner and/or accountant need to make that decision.
0 votes Share Flag Mon Oct 4, 2010 Financing in Ann Arbor
Jeri Methvin…, Real Estate Pro in Ann Arbor, MI
Jeri Methvin Sawall answered:
hello there. My naqme is Corinne Graehame I am hoping to retire to Ann Arbor from the United Kingdom within two years. I am looking for a small
Dear Corinne,
Do you have a sense of what your price range will be? We have a variety of neighborhoods that might work for you. I'd be happy to send you some current listings so ... more
0 votes Share Flag Wed Sep 22, 2010 Home Buying in Ann Arbor
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
I would like to find a newer/ renovated (modern) 3-4 br rental in King, Angell, Wines, or Burns Park school districts for $3000 or less.
Keep in mind that any local agent(s) can help you, consider contacting any realty office and inquiring--or for by owner rentals, do check local print media, word of mouth, etc.
0 votes Share Flag Mon Nov 12, 2012 Rentals in King
Cicely Brook…, Real Estate Pro in Birmingham, MI
Cicely Brookover answered:
Got a real estate question? Get answers from locals, experts and real estate pros.
Your obligations are no different than US citizen homeowners. You will owe property taxes on the home. If you sell the home and there are substantial capital gains, a capital gains t ... more
0 votes Share Flag Sat Sep 4, 2010 Home Buying in Ann Arbor
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
can a Sheriff's sale occur when there's an existing short sale sale contract?
A simple check on teh deed would have told you who the owners were, checking the deed is one of the first duties of the short sale listing agent. Without every owners signature, your co ... more
0 votes Share Flag Wed Aug 25, 2010 Home Buying in Ann Arbor
Chip Andis, Real Estate Pro in Waterford, MI
Chip Andis answered:
We are looking for a rent to own or a land contract w/in the Milan School district. - are there any out there?
There are currently 3 homes available for sale with a land contract in the Milan school district.
Prices range from $39,900 to $169,900.

Check the web site below, or contact:

Chi ... more
0 votes Share Flag Mon Aug 9, 2010 Home Buying in Ann Arbor
Michael Warr…, Real Estate Pro in Novi, MI
Michael Warren answered:
How are property taxes assessed in Scio Township? I'm confused about the winter and summer tax...
Hi Carole

I would suggest going to the Scio Township website http://www.twp.scio.mi.us/tax to get information about
millage rates. You can look up a specfic property and get the tax ... more
0 votes Share Flag Wed Aug 11, 2010 Home Buying in Ann Arbor
Jeri Methvin…, Real Estate Pro in Ann Arbor, MI
Jeri Methvin Sawall answered:
We are considering moving to Ann Arbor area and have been online searching... We've found many homes for sale in the Polo Fields neigborhood that
Carole,
The outlying areas (suburbs) of Ann Arbor have been hit harder than the city itself by the recent recession. I think it has to do with the likely employment of the homeowners. ... more
0 votes Share Flag Mon Jul 19, 2010 Home Buying in Ann Arbor
JoAnn Barrett, Real Estate Pro in Ann Arbor, MI
JoAnn Barrett answered:
We are considering a move to Ann Arbor. We are a family of 5. Schools (possibly private for high school) are our top concern as well as walkability.
Dear Molly,
When I moved to Ann Arbor, this was my priority also. My children went to both public and private schools in Ann Arbor, and graduated here. The Ann Arbor public schools are ... more
0 votes Share Flag Sun Jul 18, 2010 General Area in Ann Arbor
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
can I bid on more than one property?
first thing it is unrealistic tio give a bank 3 weeks to accept, it is an impossible task even for the best or banks. the banks will not look at any date and say we have to rush, it cou ... more
0 votes Share Flag Wed Jun 30, 2010 Home Buying in Ann Arbor
James Gordon…, Real Estate Pro in Cincinnati, OH
James Gordon ABR PBD SFR SRS answered:
I don't have any debt. I've to buy two cars and a home. Assuming my income is $100000. What's the max should I set aside for a car
Kbk if you do not have a car loan you can qualify for a bigger home loan because lenders will look at your debt to income ratio. That is how much of your income is commited to fixed pay ... more
0 votes Share Flag Thu May 27, 2010 Home Buying in Ann Arbor
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