Real Estate Information

When you have your Home on the market and you're looking for a buyer, every little detail counts. You need to be aware of the biggest turn-offs for homebuyers so that you don't have to worry that a small detail you've overlooked is scaring off buyers who might otherwise be ready to make a decent offer on your property. A few simple touchups on your home will make a big difference if you've unknowingly left one of the following turn-offs visible to those who come to view your home.

• Outdated décor features– When was the last time you put some thought into the interior décor of your rooms? Potentials buyers might be making note of the dated look of your home. Even subconsciously, buyers might be put off from making an offer on your home because you need to have your appliances, furniture, or décor modernized.
• Cluttered interiors– If you've always preferred a comfortable sloppiness in your home, you might want to reconsider while your home is on the market. A cluttered interior can detract from the appeal of your home in a variety of ways. It could make your home look less spacious and less clean. Take a look around. If you can't see a lot of open floor or table space, you might want to put some thought into clearing away the clutter and letting your beautiful property shine through.
• An unrealistic asking price– Of course, everyone who is trying to sell a home wants to get a good offer that will make their original home purchase a good investment. However, it's important to realize that you might come across as overly demanding if your asking price is something that no one is possibly going to be willing to offer you on your property. If your home has been on the market a while without any offers, try lowering your asking price and see what happens.
• Overdue maintenance– When you're showing your home, you might assume that simply explaining that a bit of imminent maintenance is needed will be considered an inconsequential detail by would-be buyers. However, they might actually read a lot into the fact that you've been putting off maintenance and become suspicious that the property has not been well maintained throughout your residency.

Once you've remedied the biggest turn-offs for homebuyers mentioned above, you might be presently surprised to receive a long-awaited offer.

There is some good news for individuals who are currently trying to sell their Home. According to recent statistics, home sales are now the strongest they've been in the last seven years. While the national real estate market has clearly gone through some tough times since the 2008 recession began, there is some pent-up demand for home sales that is fueling a slow but steady recovery. Record low interest rates and a slight rise in resales this past December show that those who are currently trying to sell a property have a considerable chance at finding a buyer in the coming months. 

Home sales in 2013 show that home sales of existing homes have been the strongest in 7 years, which is bringing some optimism to the real estate industry as a sign that the market is gaining health. Home resales rose through December, as was expected according to a poll of economists given by Reuters earlier in 2013. Although resales had gone down due to increases in the interest rates of mortgages, there has been some new development activity among builders that shows that the demand for properties is out there despite multi-decade lows in household formation.

The obstacles that the housing market still faces include rising prices in combination with the fact that incomes do not seem to be growing proportionally across the country. Despite the fact that home sales were the strongest in 2013 that they have been in seven years, the median price for an existing home has risen alarming– by almost 10 percent– between December of 2012 and December of 2013. 

The rise in home prices can be attributed to the fact that there is a shortage of available homes on the market. Due to market uncertainty, many homeowners who would otherwise put their homes up for sale are reluctant to attempt to find a buyer. The number of unsold properties on the market has fallen significantly over the last few months, and scarcity in available prices is contributing to rises in home values.

However, the pick-up in the market that was shown in 2013 will hopefully continue and encourage would-be sellers to put their homes up for sale. Ideally, this will lead to a stabilization of home prices across the country. 

Homeowners who are interested in improving the efficiency of their homes can consider taking out an energy-efficient mortgages. Energy-efficient mortgages are loans that can be taken out to finance upgrades on a Home that will benefit both the homeowner and the community by working to reduce the carbon footprint of the property. Typically, expenses involved with making the upgrades are added to the overall mortgage loan so that additional loans do not need to be taken out by the homeowner to make the upgrades.

An important aspect of an energy-efficient mortgage (or an EEM) is that they can feature exceptions to debt-to-income rules that restrict homeowners from taking out additional financing. Therefore, a homeowner who takes at an EEM can borrow more money to put toward his or her home than would be possible through a traditional mortgage. These exceptions are justified due to the fact that- despite the fact that initial expenses will be higher- the EEM should reduce the cost of living in the home and maintaining the home over time. However, taking out an EEM requires an energy audit carried out by a recognized expert to prove the benefits of the proposed energy-efficient upgrades.

There are three types of EEMs: the conventional EEM, the Federal Housing Administration (FHA) EEM, and the Veterans Administration (VA) EEMs. Below is an explanation of each type.

• Conventional EEMs- This is the most common of all of the different EEMs. When a lender is determining whether or not a given energy-efficiency update can be financed, that lender can factor the future energy savings that will be brought about by the update into the borrower's income when determining the borrower's debt-to-income ratio. In this way, the homeowner can borrow more money and still be within applicable debt-to-income rules.
• FHA EEMs- There are a variety of different underwriting conditions that need to be met for a homeowner to take out a FHA EEM. Through this type of EEM, the homeowner can borrow whichever amount is less: the overall expenses involved with the improvements/inspections, or the lesser amount of either 5 percent of the property's value, 115 percent of the median price on a single family home in the area, or 150 percent of the loan limit specified by Freddie Mac.
• VA EEMs- This type of EEM is available to qualifying veterans, and it can consist of a loan of anywhere between $3,000 and $6,000.

Spring is a great time to get to work on the following four spring projects to boost your Home's curb appeal that can help improve the exterior appearance of your home. The warm weather means that more people will be out and about in your neighborhood, and you might want to put some effort into making your home look presentable from the road- especially if it's currently on the market and you're looking for a buyer.

Consider the following four maintenance projects if you're keen on making your home look great this spring:

• Implement a landscape design- Unfortunately, many homeowners engage in landscaping efforts as something of an afterthought. Yet if you get started in the spring, you can revolutionize your home's landscaping and make it so that you're home's surroundings grab the attentions of passersby.
• Make some touch-ups- As time goes on, the paint job on your home will begin to look aged. A great way to drastically change the appearance of your home through one simple home improvement job is to repaint or touch up the paint job on the exterior of your home. You should also consider pressure washing the surface of your home's exterior to prevent infestations of mildew or mold.
• Fix up your roof- Any flaws on the roof of your home are very noticeable to those viewing the exterior of your home from a distance. Not only do saggy gutters and missing or damaged shingles look bad, but they can also make your home susceptible to the elements. Protect your home from leaks and other water damage caused by an aging roof by fixing up your roof and gutters this spring.
• Fence off your yard- If there is a fence that marks your yard's boundaries, you should pay attention to how it's looking. A fence that looks old and damaged can give a home a rundown look. A simple paint job or a pressure washing can work wonders in improving the appearance of your fence. Best of all, this job doesn't typically take up much time. Fixing up your fence should be doable in a weekend, but it makes a big difference in the appearance of the exterior of your home.

You're got plenty of time to engage in one or all of these four spring projects to boost your home's curb appeal to make your home look great this summer!

Like the look or health benefits of copper and looking for some different Home decorating ideas?  See this project below for some inspiration.  

Keeping track of the market and checking its pulse?  See below

Thanks for watching.  Give us a call for more information or if you are looking to sell or buy property.  Have a great day!

tom stachler selling property and homes in ann arbor michigan and saline michigan providing you with this market report for april 2014 thomas real estate for sale

Dan's Monthly Broadcast Message shown below.  

Check the Links above for MLS access to the entire listing inventory that are for sale from every company and bank.  They all are included in this database.  Let us know if you would like to setup a showing appointment.  

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The third annual Ann Arbor Marathon will soon be underway. This year however, the marathon has moved from June to March, which means that participants should begin making plans to compete right now.

The inaugural race took place in 2012, when it was held on Father’s Day. As a result, a number of area residents and business owners had to contend with certain streets being blocked off so that the event could take place. As a result, Mayor John Hieftje noted that changes to the race’s schedule needed to take place so as not to inconvenience locals.

In 2013, the race was held on a different day in June, and also included a new route in order to minimize its impact on traffic flow. Although these changes were good, race organizers felt that a switch from June to March would better benefit both the city and participants. An email blast sent to race participants from previous years showed that most people agreed that a date in late March would work best for everyone concerned.

In addition to changing the date, a number of other changes will take place in 2014 as well. The route will once again change, with the finish being on South Main Street in downtown Ann Arbor between East Liberty and East William streets. The course also begins on Main Street at the northwest corner of the “Big House,” and will run partly through the University of Michigan campus as well as along the Huron River.

There will be one 13.1-mile route for half-marathon participants, and marathon runners will be required to complete two full loops of the same course. Organizers have planned a 5k and 1.2 mile race in addition to the marathon and half-marathon.

Registration for the event is already underway, and individuals can take advantage of discounted fees for the time being. Runners may obtain registration forms by visiting the marathon’s website. An early bird discount is available from now until February 28th, 2014. A portion of these registration fees is earmarked for distribution to the Ann Arbor Public Schools Educational Foundation.

The Ann Arbor Marathon is also a qualifier for the Boston Marathon. Since the annual Ann Arbor Marathon has moved from June to March, runners who would like to participate should sign up now in order to participate in this exciting event that’s coming up on March 30th, 2014.

The city of Ann Arbor recently announced its decision to sell a parking lot downtown to a local property manager. As part of that agreement, Dennis Dahlmann has agreed to turn this parking lot into a mixed-use development no later than January 1, 2018, which means that more apartments are coming to downtown Ann Arbor very soon.

The deal is estimated to be worth around $5.25 million. The sale of the former YMCA property was approved unanimously by the city council in November. In making the decision, once council member was excited at the possibility of creating something “magnificent” on the site, and remarked that it would be an excellent development for the downtown area.

This parking lot is located near the Blake Transit Center, and is also situated along William Street and Fourth and Fifth Avenues. It consists of just under an acre of land that will house a structure that is at least five stories high when completed. The lower level will contain retail and restaurant space, office space on middle floors and apartments on the top floors.

Ann Arbor’s city council had previously set forth a number of stipulations for building on the site. One of the requirements was that the site plan had to be based upon available standards for energy efficiency. Proper parking facilities were also outlined, to include connecting with another underground parking garage that is nearby.

In addition, the city also made exact specifications as to the amount of open space that’s provided. The amount of open space must be at least 10% of the property. The city also mandated that the developer include a fountain that is approximately the same size as the one located in front of the Campus Inn.

City officials received five different offers, and considered all of them carefully before deciding to sell this lot to Dahlmann. In deciding which offer to take, council members looked at the benefits of each proposal separately in addition to considering the asking price.

Residents can expect ground breaking for this new construction to begin soon. Government officials are hopeful that the idea of more apartments coming to downtown Ann Arbor will help spur economic growth within the city.