Real Estate Information

Ten Ways to Protect Your Child from Cyberbullies

Cyberbullying has quickly turned into a pandemic on the web, causing severe emotional and psychological pain to children. According to the National Crime Prevention Council, over 40% of all teenagers with Internet access have reported being bullied online. 

Cyberbullies seek to terrorize or humiliate perceived enemies and rivals under the cloak of anonymity, and with the proliferation of social media tools and multiple points of connection to the Web, they have an ever-expanding array of opportunities to achieve their goals. This activity presents a daunting challenge to parents who want to ensure their children's safety in today's technology-driven communications environment. Simple tips that worked in the past are fast-becoming ineffective: it's no longer sufficient to block access to specific websites, messaging programs, social networks, or computer use altogether. 

Parents can gain important insights into their children's digital lives by communicating with them about this important topic, and better monitoring their web, email and mobile phone activity. Here are 10 tips for parents to help protect their children from cyberbullies and other online dangers:

1. Start by talking with your children about their online activities and the dangers of cyberbullying - set their expectations by discussing your views on monitoring their Internet and smartphone use

2. Set up Google Alerts to monitor mentions of your children's names on the Web

3. Friend your children on Facebook and monitor their privacy settings so you are able to view their profile and activity

4. In addition to Facebook, cyberbullies use other social networking sites like Twitter to post hateful messages. Familiarize yourself with these sites and set up an account to enable you to routinely search what others are saying about your kids

5. Inform teachers if you suspect your child is being cyberbullied.  Teachers are among the first to notice important changes in children's behavior, and it's possible the bully may be a classmate

6. Consider implementing parental monitoring software on your Home computers and children's smartphones

7. Many school districts also now use computer monitoring software on all classroom computers. Check with your school principal, PTA or school board to ensure these tools are in use at your child's school

8. Prohibit your children from having multiple e-mail addresses, screennames and social networking accounts

9. Prohibit your children from using geolocation tools and apps on Facebook and smartphones

10. Always be observant as your children use electronic communications tools. Changes in habits, such as frequency and timing of use, mood swings and other indicators, could be a sign that your child is being bullied or a target of other online mischief

If you are looking for new real estate listings, try www.shelterquest1.com

If you’re a military member or veteran in the market for a VA Home loan, there are two basic things you need in order to get the process moving. One is your basic eligibility for the VA mortgage it self, the other is how much of that entitlement you have coming. First time home buyers with enough time in the service to qualify for a VA mortgage don’t have any worries when it comes to the entitlement issue; if you have never used your VA loan benefits and you qualify, you have 100% of your VA loan entitlement available to you.

To start the process, you must apply for a Certificate of Eligibility from the Department of Veterans Affairs. When the VA responds to your application, they issue qualified applicants a Certificate of Eligibility telling your lender (and you) two things:

* The borrower has served in the military long enough to earn and use VA home loan benefits.
* The amount of the borrower’s entitlement to use for the VA loan.

It’s easy to assume that because you’ve served in the armed forces you’re automatically eligible for ALL the benefits offered by the Department of Veterans Affairs; the truth is that vets and active service members are eligible for VA guaranteed home loans only when they meet certain general rules:

* The applicant must have served on active duty in the Army, Navy, Air Force, Marine Corps, or Coast Guard after September 15, 1940.
* The applicant must not have a dishonorable discharge.
* The applicant must have served at least 90 days or more during wartime or 181 continuous days or more during peacetime.

For most veterans on active duty today and for many who have retired or separated, the following rules also apply:

There is a two-year duty requirement for those who served

* As an enlisted member after September 7, 1980.
* As an officer after October 16, 1981.

For all who joined after these dates, VA regulations require;

* 24 continuous months of active duty military service.
* The full period for which called or ordered to active duty, but not less than 90 days (any part during wartime) or 181 continuous days during peacetime operations.

These rules mean brand-new recruits, basic trainees and recent graduates of military technical school programs are not eligible for a VA loan…yet.

New recruits and basic training graduates who want a VA home loan should begin working on their credit history between the time they join the service and the time they become eligible for a VA loan so that when the time comes the military member is completely ready to apply for a VA guaranteed mortgage.

Remember you can search for property listings in the Ann Arbor and surrounding areas by going to www.shelterquest1.com for real time MLS listings.

Q:  What do you advise a financially fit homebuyer to do to increase their credit score or make themselves more attractive buyers, to qualify for the lowest mortgage rates?

A:  A FICO score of 700 or better qualifies you for the lowest rates. In fact, it qualifies you just as well as a higher score, so if you’re at or over 700, there’s no loan qualification rationale for investing effort into boosting it.  But 700 is a firm breaking point. The difference between a score of 698 and a score of 700 can cost you a quarter of a point in interest, or thousands of dollars over the life of your mortgage.

I’ve found that people asking about how to boost their credit to qualify for the best interest rates is similar to people asking me how to lose weight: I tell them the truth, then their eyes glaze over when I give them the straight dope, no magic bullets.  No one wants to hear: eat vegetables, cut the sugar, and exercise; similarly, they don’t want to hear pay your bills on time, every time. 

But I’ve been asked this question a lot recently, so here goes, anyway!
    
1.    Pull your reports online – get them for free, no strings attached, at the government authorized website AnnualCreditReport.com.  This doesn’t get you your actual FICO scores, but it does get you the content of your report. Look for errors that could be depressing your score, like accounts that don’t belong to you, balances that are actually lower than reported, old debts that are paid off that should have been removed entirely (7 years for credit cards, 10 for bankruptcies). 

2.      Consider reopening accounts you thought were open but have been closed because you haven’t used them in so long - it will help boost your utilization ratio, one element of your credit score that is dependent on how much available credit you have.

3.      Pay down some debt.  This both decreases your debt-to-income ratio (36% is the goal, including the proposed mortgage payment) and increases your credit score, if you do it right (see the next tip).

4.     Don’t close any accounts.  Instead, spread your debt out. The ideal utilization ratio is about 20-30% of your available credit overall, and on any given account.  Closing accounts reduces the amount of credit that is available to you, so it makes it look like you’re closer to being maxed out. 

So if you have one card that’s near its max and several others that have zero balances and you’re trying boost your score a bit, quickly, consider balance transfers to spread our your debt more evenly, aiming for 20-30% of the available credit on each card.

5.     Use your credit regularly – and pay it on time, every time:  Having a good FICO score doesn't happen because you have sound personal finances, including no debt. FICO scores are a measure that shows that you have a history of responsibly using and managing and repaying your debt on an ongoing basis. 

6.      Finally, check in with your mortgage broker.  Have them pull your report and score, as the report they pull is the one they’ll have to go by in the final analysis.  If you’re really close to a score level higher, that would empower you to qualify for a lower rate, they can actually run a credit diagnostic on your score and generate some recommendations for which actions you could take to raise your score by the needed few points. Then many of them can do what’s called a ‘Rapid Rescore’ – once you’ve paid that bill off, they can actually submit a request directly to the credit bureaus to update that information and your score in just a few days.

None of these tips will get someone with a 500 credit score to a 700 (other than a massive debt reduction program).  But if you’re trying to get a little boost to get you over a credit score hump, these can be potent, and save you beaucoup bucks in interest.

As always the best place to find new listings is at www.shelterquest1.com

Congress Passes Tax Credit Closing Extension

Congress passed an extension of the closing deadline for the Homebuyer Tax Credit, the Homebuyer Assistance and Improvement Act (H.R. 5623). 

This extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law. 

Contact our office for further details and as always you can get new listing update reports at www.shelterquest1.com

As of July 1, 2010, it is illegal in Michigan to text while driving and could result in fines.

The law says that reading, typing, or sending a text or email on any wireless two-way communication device behind the wheel is illegal. This civil infraction carries a first-time $100 fine and $200 in fines for subsequent violations.

To read the full story about the new Michigan Texting Ban, please visit AnnArbor.com at:http://www.annarbor.com/news/michigans-texting-ban-takes-effect-today-will-it-reduce-crashes/

Get new property listings reports at www.shelterquest1.com

In a state suffering from the decline of the auto industry and the loss of manufacturing jobs, Ann Arbor remains an economic and cultural oasis. The city has grown up around the university, which moved to Ann Arbor from Detroit in 1837, shortly after Ann Arbor was founded. A focus on research, technology, arts, and tourism has spared the local economy many of the hardships felt elsewhere in Michigan.

If you live here, it helps to be a Wolverines fan. The roar from Michigan Stadium—which seats more than 100,000 and is known as the Carnegie Hall of sports—resounds through town on football Saturdays in the fall. The games always sell out, drawing fans from around the country. If sports aren't your thing, there are still plenty of other activities, many associated with the university: several museums and galleries, an arboretum, an annual arts fair, an orchestra, and local opera and ballet companies.

The university employs about 16,000 people from all over the Detroit area, plus another 12,000 at the University of Michigan Medical Center. Private-sector employers add to a vibrant white-collar economy largely based on research and technology. Automakers like General Motors and Toyota account for some research jobs; the National Oceanic and Atmospheric Administration and companies like General Dynamics and Google provide others. Longtime local companies include Domino's Pizza and Borders.

Ann Arbor has cold, snowy winters, and moisture from nearby Lake Huron and Lake Erie contributes to a high proportion of cloudy days. But summers tend to be warm and comfortable, with highs in the low 70s and nighttime temps in the 50s or 60s. And Ann Arbor—known as "Tree Town"—is one of the greenest, most densely forested residential areas in America.

If you can tolerate cold winters and can afford the slightly above average cost of living, Ann Arbor is a dynamic retirement spot with year-round enticements. Detroit's metropolitan airport is about 40 miles away, with nonstop or one-stop jet service to most big cities, so grandkids can visit—or you can easily flee to the south in the winter.

In addition to the University of Michigan, there are several smaller colleges nearby, including Cleary, Concordia, and Eastern Michigan. Big Ten rival Michigan State is about 65 miles away, in East Lansing.

The University of Michigan Medical Center is one of the top hospitals in the country. There's also a VA hospital in Ann Arbor, and St. Joseph Mercy Hospital is just a few miles away (with some facilities in Ann Arbor itself).

After the University of Michigan, the biggest employers are auto supplier Visteon, General Motors, St. Joseph Mercy Hospital, Eastern Michigan University, and Borders. Drug aker Pfizer has employed several thousand in the area but is closing its operation.

The median Home price in 2008 was about $206,000, higher than in many surrounding areas. But consider that a sign of a relatively healthy economy: Prices in 2008 fell by a modest 6 percent, a small decline compared with other areas. Much cheaper homes are available in surrounding communities, where builders binged during the housing boom. In 2009 and 2010 both nearby Saline and Ann Arbor realty prices have gone up an average of 3% per year.  

To get real time foreclosure, short sale and other realty listings click here.

LOOKING FOR LANDSCAPING SERVICES?

Well, beware....I would not recommend Brian Stimach or Meadowbrook Acres Sod Farm located in Brighton, Michigan.  I tried this service last year requesting some simple services like putting in black corrugated landscape pipe in the ground with drains to extend away from the building the downspout water running off from the roof.  Simple stuff right?

Their crew was more interested in getting the job done quick instead of the right way.  Trenches were dug too shallow, no care or concern to fill in and compact the soil so it didn't settle and leave indentations a week later after the first rain fall, drains installed to high, poor seeding techniques, etc.

Worse yet, when I called the foreman Brian Stimach, he resisted fixing these issues and finally kept saying how he would have someone get in touch with me in a few days.  Never happened even after a few follow up calls.  He actually spent more time telling how busy he was, that his family was living in Florida and he had more important things on his mind with the business down there and the commute coming up on the weekend.  Guess I was suppose to be sorry to have an expectation that they cared about the quality of their work and a satisfied customer.

What happened to the success business plain of putting the customer first and quality of service??  But I have to admit, this type of approach to customer satisfaction is too common in the landscape business.  Beware of contractors who want to get a deposit for your job with promise to come back next week to get started.  While deposits are not that unusual, I would never recommend you pay one until their first day on the job.  Landscaping contractors are notorious for running around booking jobs in the spring and taking deposits so they have work to carry them through the 4 months of prime landscaping season.  Everybody wants their work done in the Spring, but guess what....that's not possible regardless of their promises, so beware.  

A good larger company to consider might be Continuum Services. Their contact number is 248-286-5200.  They do a lot of commercial work involving design, and grounds maintenance.  If you ever have any problems with them, let me know as I know person in charge and unlike MeadowBrooke and their foreman mentioned above, he IS concerned about customer service and satisfaction.  He even volunteered to ask MeadowBrook Sod to go back out to fix my problem as he subcontracts some work out to them and other smaller or specialty firms.  Of course, having grown tired of making numerous phone calls and receiving false promises, we decided it was easy to get someone else to correct the previous inferior work.

Take care and good luck.  Remember you can get the latest new MLS property listings by clicking on this link.

 Help for the Hardest-Hit Housing Markets 

1. $1.5 Billion to Work with State Housing Agencies to Innovate and Help Address the Problems Facing the Hardest-Hit Housing Markets 

• There will be a formula for allocating funding among eligible states that will be based on Home price declines and unemployment. 

• HFAs must submit a program design to Treasury. 

• Programs may include:  Measures for unemployed homeowners; 

 Programs to assist borrowers owing more than their home is now worth; 

 Programs that help address challenges arising from second mortgages; or 

 Other programs encouraging sustainable and affordable homeownership. 

2. Accountability and Transparency for these Housing Programs 

• All funded program designs posted online. 

• Accountability for results – program effectiveness measured and results published online. 

• Effective oversight under the Emergency Economic Stabilization Act of 2008.

Click here for more information on this program.

Well its that time of year again when we get our notice's from the local tax assessor.  The notice will contain your new tax assessment and what we can expect to pay for property taxes.  Remember you can appeal this decision if you do not agree.  Generally there will be instructions with your assessment that tell you how to sign up for to appeal initially to the local Tax Board of Review. 

I am please to announce that this past year I was notified that I would be getting back two checks for different properties that I had appealed to the State Tax Tribunal.  It should be noted that initially I did not receive any adjustments on the local level.  Initially, your case is reviewed by individuals appointed by local government that is very concerned about declining tax revenue due to declining tax values (Tax Board of Review).  No mystery here why they smile and tell you they will take your matter into consideration and then send you a denial letter once you are out of their door and confrontation range.  I have a few suggestions if you think your taxable value is higher than 50% of your market value and you want to lower your tax bill.

You will need to start by requesting a meeting with your tax board of review. This is a panel that will meet for several weeks straight following the mailing of your assessment and you need to request a time slot right away while they are convened.  Being a broker I can put together a market report showing comps or sold price data on similar properties.  I did this in the past but was unsuccessful on my appeals.   I would recommend that you spend $2-300. dollars for a formal appraisal.  The appraisal should be dated December 31st of the previous year which is the value date that your assessor is trying to establish.  Often, several of us in the community will go together and negociate a discounted price with a local appraiser for doing several appraisals at once for this purpose.  This makes the process much easier both at the local and state levels.  You now have an unbiased, third party market value opinion to present initially to the Tax board of Review and if needed, the State Tax Tribunal appeal.  I recommend this approach highly.  To start, you will make several copies (4) to supply to the local board and assessor at your first meeting which generally only last 15 minutes or less.  From my own past experience, this yields limited or no satisfaction at the local level, but you could get lucky.  You will receive an opinion from the Board of Review within a few weeks after your informal meeting along with instructions on how to appeal to the State Tax Tribunal.  Unhappy with the results?.... then don't stop and send a copy of your appraisal to the State if you disagree and then be prepared to wait up to two years for a notice from them, though you should receive a confirmation of receipt and case number within 60 days.  You can check you status online to by going to the State Web site as well.  If this is concerning your Home or principle residence, the appeal to the State is Free.  If its for investment property, then there is a $75. charge.  I have found far more receptive ears at the State level, so don't be shy about taking this final step.  

Of course there are more formal approaches involving hiring a tax attorney, but generally most people do not wish to speculate spending money on their fee's.  This is something you will need to weight vs. the potential return. 

Please call me if you have any questions or would like for me to send you some comps just to see if you should start with the appraisal route.  Remember, I got back thousands on each of my appeals to the state so think positive.  

Please scroll down and review other older posts herein for info on this and similar topics while your in this category.  

Good luck!

Anyone can be a real estate investor in todays market.  I have many clients who are investing in homes prices between 15-80K who are Buying to earn income.  Current investors should note the recent underwriting change dropping the 90 day wait for flip type sales to buyers using FHA loans. (see below) 

For newcomers, generally the plan is to flip the property.  In other words you buy asset, make the necessary repairs and/or upgrades and then place it back on the market for sale.  Most of the time in order to replenish capital an investors first choice is usually to sell it for cash or buyer financing ie:the buyer gets a mortgage and pays the owner in full.  Second option.... the seller enters into a land contract with terms above market interest rate after receiving a downpayment from the buyer. The terms often will call for a balloon payment after three years at which time the buyer will then seek a mortgage to cash out the seller.  Often the buyer is not in a position to get a mortgage right now and the seller can chose this type of transaction because perhaps the property location or market conditions in the subdivision didn't yield a cash buyer right away.  The other option for the seller is to Rent the property out until which time as they may decide to sell it.   All three choices yield a nice return on investment.

New and current investors should note  ... short sale and REO flipping 
are becoming more and more accepted by the government and major 
lending institutions.  This is evidenced, among other things, 
by Freddie Mac's recent bulletins, updated credit policies by 
major lenders allowing for C buyer financing, and revised title bulletins 
stating that the C purchase price does not need to be revealed 
to the A lender as long as certain disclosures are made. 

Last Friday the FHA has rescinded its 90 anti-flipping rule and will, 
for a period of 1 year, allow FHA buyers to obtain loans 
on properties that have been recently purchased by investors 
who intend to flip them for a profit.

This "green light" by FHA means that if you've been on the 
sidelines of property flipping, you need to educate yourself 
as soon as possible, because investors will be coming on 
strong for 2010 given this latest news. 

contact me to discuss this further.  You can also stop by this web site to get easy to use investment tools etc.  www.A2Realty.info or stop by our MLS access and custom report web site at www.shelterquest1.com for easy and current review of the latest listings.   

Tom can be reached on his cell phone at 734-516-2000 to answer any additional questions that you may have.