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Ann Arbor : Real Estate Advice

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  • Local Info20
  • Home Buying112
  • Home Selling15
  • Market Conditions3

Activity 168
Sun Jun 28, 2009
Renee Badall answered:
Good morning Woongjae,

This property has been on the market a while and one of the main reasons is that it is in a difficult price range. If you think of the market as a whole pie, and divide it up into slices according to price ranges, the price range of $2,495,000 just isn't a very large slice. This lovely home comes with 17 acres of undisturbed woods, wildlife and a large slide of Huron River frontage. It is architecturally designed and has many amenities including pool, tennis court, and nanny or mother-in-law quarters.

The best way to determine if it is over-priced (of course, price is ALWAYS negotiable), is to see it. I would be happy to talk with you further, and show it to you. Please contact me at 734-754-3221 or ReneeBadall@gmail.com. My website link is listed below. I look forward to hearing from you.
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0 votes 3 answers Share Flag
Sat Jun 27, 2009
Ann Arbor Real Estate Assoc. answered:
Hi there Looking in A2. Try this on for size....

http://www.a2schools.org/bryantpattengill.home


Also, visit
http://www.AnnArborsRealMarketChat.com
and Subscribe to my blog for interesting A2 info.

Also visit
http://www.TakeOneWashtenaw.com

Please call if I can assist you with any or all of your Real Estate needs, and I wish you the best with your home search!

Caitlin A. Phillips
Local Realtor, Neighbor, Townie and Friend.
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0 votes 5 answers Share Flag
Tue Jun 23, 2009
Michael Thompson answered:
Mindy,

Check with the township, they can tell you. May take a week or so for them to get records. (smaller ones like Webster and Putnam may take a bit longer).

If it was a sheriff's sale/auction you can try to contact them..but usually that's a dead end. ... more
0 votes 1 answer Share Flag
Wed Jul 1, 2009
Michael Thompson answered:
Keep in mind your purchase price is only part of the formula for determing property taxes. They do not assess your home alone on an island, it is done with others in an area as a whole, some voodoo is used, and then they determine your assessed value.
Meaning, it isn't as simple as your sales price divided by 2 x the millage rate. That can be a decent guidline for some properties but with "distressed" properties it almost never works to give you an idea of your actual tax rate.
Frankly my recommendations to clients is usually on the conservative side--if the property was sold previously within the last 5 years I tell them to assume the SEV/Assessed value won't change much.
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0 votes 4 answers Share Flag
Wed Nov 25, 2009
Todd Lands answered:
There is a house on Chatham for $2,100 and a condo on Greenhills for $1,700/mo. Are you working with an agent already? If not call me i would love to show you these two places.
Respectfully,
Todd Lands
734.Mi.LANDS (645-2637)
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0 votes 4 answers Share Flag
Sat Jul 7, 2012
Bekah Casaday answered:
I don't know anything about Pittsfield Village or your area, but I do want to answer your question about inventory.

Sometimes with condos or large subdivisions that were built at the same time do this and its perfectly normal. Studies show that people sell their homes every 5-7 years. That means that if they all bought around the same time, most are going to move out in around 5-7 years. This coupled with a struggling economy screams that its a perfect time to buy because competition causes the prices to plummet!

In other words, just because there are many homes for sale doesn't always mean something wrong. It may be screaming opportunity!

Again, I don't know anything about the area, so don't rely on my advice!
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0 votes 6 answers Share Flag
Thu Jun 4, 2009
Kris Wales answered:
Sometimes clerical mistakes are made, or the seller decided to up the price.

Human beings - human mistakes :-)
0 votes 5 answers Share Flag
Tue Jul 28, 2009
Donna Harbour & Cynthia Wargo answered:
Dear Blaise Blastos,
An attorney will cost you alot of $$'s, when you can do the same thing for yourself and truly express your hardship. Call your lender and ask for the loan modification dept. This could take a few phone calls to get through. I wouldnt leave a message. Try calling at odd tmes of the day, ealry morning or after 7pm.
Then ask them for the following:
A. Loan Modification requirements and paperwork ( once you receive the paperwork then complete this and send it back to them certified mail). Ask them how long the process will take once they receive the paperwork? What qualifies you for this loan modification?
or if you are selling or needing to sell your home
B. Short Sale paperwork and requirements (loss mitigation dept for this)- I am not sure if you are in a short sale/selling situation, if you are have them mail you the documentation. If you are selling your home in the future and via a short sale...please do not fall into the hands of scams that are out there. A qualified "short sale" real estate agent will assist you. Any other service I would be aware of.

Try these company's to for help:
http://www.hopenow.com/
http://www.hud.gov/foreclosure/index.cfm

Good Luck!
Best regards,
C. Wargo
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0 votes 4 answers Share Flag
Sun May 3, 2009
smith3gary answered:
Ms. Green,

The website below should contain these homes. Simply click on the map, enter Ann Arbor and then in Advanced Criteria select rentals and your other criteria.

Homes will be listed below map. ... more
0 votes 1 answer Share Flag
Sun Apr 12, 2009
Todd Lands answered:
Hi Eresto,
I have looked in the MLS and I do not see the house your are talking about. Please call me to tell me more and I will look again. 734/ Mi-LANDS (645-2637)
Respectfully,
Todd LAnds, Realtor ... more
0 votes 6 answers Share Flag
Mon Apr 6, 2009
JoAnn Barrett answered:
Hi Erline,
I bet you are looking at that foreclosure for $80,000 that just came on the market. That is in the Northbury Condo complex off Nixon. The condo fees on this unit are about $335 per month. Taxes in 2008 were homesteaded at $5174. The SEV is $110,800, putting the assessed value at double that. So you can see there is quite an upside to renovating this condo. Although it is in pretty rough condition, it appears that all the damage has been removed, and you can pretty much start with a clean slate.
If you would like more information or to see it, I would be happy to help you out.

JoAnn Barrett
Realtor
734-678-8729
JoAnn@JoAnnBarrett.com
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0 votes 1 answer Share Flag
Thu Apr 2, 2009
Missy Caulk answered:
Marvin, there is no average. It depends on the ammenites, closest to downtown and U of M. Those have dropped less. If you give me a neighborhood I will let you know the average for that specific area. ... more
0 votes 3 answers Share Flag
Mon Nov 22, 2010
Luke Allison answered:
Your credit is perfectly fine if you are going with FHA. However, it is the middle of the 3 credit scores, that lenders care about - whichever bureau it is from. For conventional loans, a 720 mid-score will do everything to not only help with your interest rate, but will qualify you for any mortgage insurance you may need. As long as you have that you will be fine.

Luke Allison
Flagstar Bank
828-777-8828
Luke.Allison@flagstar.com

Apply Online: flagstarloans.com/lallison
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0 votes 13 answers Share Flag
Wed Feb 25, 2009
Todd Lands answered:
Good Morning Kathy,
Sure, but it was not easy. It was my first one and not my worst (but it was close) but they kept giving me to new people to talk with at their end and the hours I spent on the phone on hold could be counted by the tens. Many times while holding for what could have nbeen twenty minutes plus the line would go busy (great phones on their end). Good luck. ... more
0 votes 1 answer Share Flag
Sat Nov 29, 2008
Renee Badall answered:
I am going to need a little more specific information in order to answer your question. For instance, was the house on Valley View or just in the same neighborhood? Even if you do not know the exact street number, I can search out an answer for you with a street and city name and an asking price. Looking forward to helping you ~ email me at ReneeBadall@gmail.com. ;-) ... more
0 votes 5 answers Share Flag
Tue Nov 18, 2008
Tony Grech answered:
Hi Christina,

Here in MI taxes are based on 2 factors - the assessed value of the home and the tax rate of the city the home is located in.

In Michigan there are two separate "tax brackets" for real estate taxes - called HOMESTEAD and NON-HOMESTEAD. If the owner of a home actually resides there then he or she is eligible for the homesteaded tax rate, which is discounted. If the home is not owner occupied then the owner is taxed at the non-homesteaded rate.

Since a lot of the homes out there right now are bank owned (foreclosures) and thus not owner-occupied my guess is that this particular home is being taxed at the higher rate. Also, with respect to the assessed value that is being applied to the home, it is likely that the home is being taxed based on an assessment of what the home was worth a year or two back.

Upon purchasing this home, if you decide to live there, you would be eligible to apply for the homestead tax rate and would likely enjoy a reduction in taxes.

I would definitely look to get hooked up with a good buyer's agent to help you navigate these waters. If you are doing research on your own then you can find info about different cities' taxes at https://treas-secure.state.mi.us/ptestimator/PTEstimator.asp and if you want info on schools, crime rates, etc you can look at www.city-data.com.

If you need some local assistance on the mortgage end, my office is actually located right on Washtenaw Ave near the Ypsi-Ann Arbor border. Feel free to email me or call the office at 734-528-5511

Tony
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0 votes 5 answers Share Flag
Mon Nov 24, 2008
Jeff Davis answered:
Well that was a pretty good way right there. If I'm right and your selling this yourself, its kind of hard in general to put it out there to agents. You could contact the local agencies, talk with the manager and let them know to tell their agents. You could try activerain.com its kind of like this site. Signs are huge for open houses, put them out early with the day and time.

I would also like to warn you that doing this yourself, especially with an open house, you just opened your house and family up to everyone. And as you know there are a lot crazies out there.
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0 votes 18 answers Share Flag
Wed Oct 15, 2008
Jeff Davis answered:
Wed Oct 15, 2008
Missy Caulk answered:
It sold on Sept 11, for 156,000. It was a forclosure.
0 votes 7 answers Share Flag
Wed Oct 15, 2008
Missy Caulk answered:
It is not in the MLS either. Are you sure it is on Zeeb? I searched A2, Manchester, Dexter can't find anything on Zeeb.
0 votes 5 answers Share Flag
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