Ann Arbor and Saline Michigan Real Estate

Saline Michigan Ranks in Top 100 Best Places to Live

Mon, 13 Jul 2009 20:59:14 -0500

Saline, Michigan where I work, live and eat has been ranked in the TOP 100 Cities to live in by CNN Money Magazine for 2009. Actually we rank #63 which is fantastic. Our population is aproximately 9000.

Saline Area Schools are great, which is one of the big attractions and why people move here.

To quote CNN Money Magazine:

"Saline, named for its natural salt springs, is a town surrounded by farmland that lies between troubled Detroit and healthier Ann Arbor (home of the University of Michigan).

Youth soccer is big here, and many families are churchgoing conservatives.

The downtown area has an eclectic array of historic and modern buildings (though no movie theater); it hosts the annual Celtic Festival, Saline Summerfest, and the Harvest of the Arts Oktoberfest." --D.G.

9667 Bayview #114, Ypsilanti, Mi 48197 (Short Sale)

Mon, 13 Jul 2009 12:30:19 -0500

Ford Lake Condo (Short Sale)

9667 Bay View #114, Ypsilanti, MI 48197 View Map

Take advantage of this one & spend your summer at the pool, playing tennis, volleyball, sunning on your dock or on the water!

Where else can you get lake access & your own boat dock at this price???

Walkout to your own patio w/view of Ford Lake. Boat dock included.

Fabulous condo shows like a dream..kitchen & baths beautifully updated. Neutral colors.

Tons of California closet systems throughout for all your goodies + a storage unit.

Low assoc.fee includes H20!Attractive condo, private area.

Immaculate, move-in ready.

Details

Asking Price:

69,900

MLS:

2906805

Sq. Feet:

875

Bedrooms:

Bathrooms:

# of Floors:

HOA/Maintenance Fees:

154.00

Subdivision:

Harbour Cove

Year Built:

1974

Property Amenities

Community Amenities

Contact Info

Missy Caulk
Associate Broker

Cell 734-216-2822
Dir 734-821-0757
Email | Website

All information is deemed reliable but is not guaranteed.

Ann Arbor Street Townie Party

Mon, 13 Jul 2009 08:50:40 -0500

Every year before the Ann Arbor Art Fairs, a "Townie Street Party" is held. This year it is being held Monday, July 13th from 5:30 to 9:30 on N. University between Thayer and Fletcher.

The Townie Street Party is a time for local folks to get together before the art fair. It is FREE and a family event. It is a great time to mix with people from all over the Washtenaw County from different Townships and Chambers. MIke Smith and the Cadillac Cowboys open the entertainment at 5:00.

This year the Art Fair begins on July 15th- 18th. (I like to go on Wednesday morning, it is less crowded.)

Many people don't realize it but the Ann Arbor Art Fairs are really 4 Art Fairs. Regardless it is huge and fun !!!

I will be there taking lot of photos for my Ann Arbor Photo blog.

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Ann Arbor Speechless Sunday,What's the point?

Sun, 12 Jul 2009 08:23:51 -0500

Why do you do Speechless Sunday Photos?

I didn't do Speechless Sunday's for awhile, not that I didn't like looking at others photos, I did but...it seemed like the content was just not there.

Then....

I got an email from a consumer that wanted to know where they could find the sunflower field I shot last August.

Good contact...

I try to make my Speechless Sunday's pertinent to my area, Ann Arbor and Saline.

I converted.

More photos on Ann Arbor Real Estate Photo Blog.

Shot in the hallway of University of Michigan Hospitals.

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Open House, Sunday, July 12th 2-4 5449 Waterfield Ct. Ann Arbor ( Waterways Sub)

Sat, 11 Jul 2009 09:51:39 -0500

OPEN HOUSE, SUNDAY 2-4

5449 Waterfield Ct, in Ann Arbor with Saline Schools and Pittsfield Township taxes. i

The home being sold in a "short sale" is a fantastic home, located on a cul de sac with a pond view.

To view multiple photos on Flick click this link.

Virtual Tour of 5449 Waterfield Ct, Ann Arbor.

Download a Pdf file on Waterways Subdivision Homeowner Information.

Complete details on Ann Arbor Real Estate. Waterways Neighborhood

Hosted by Pat Anderson, Missy Caulk Team. ***************************************************************************

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Saline Celtic Festival this Friday, July 10th

Fri, 10 Jul 2009 04:01:15 -0500

Saline Celtic Festival begins this Friday on July 10th at 5:30 PM at the festival grounds in Mill Pond Park.

For $5 admission you can attend Pub in the Park and enjoy the Limerick Contest, Mr. Pretty Legs in Kilts Contest, music featuring Tartanic a raucous bunch of skilled musicians attired in kilts playing traditional instruments such as bagpipes and drums. I love the BagPipes and they feature both local and regional performers.

At 6:00PM Celtic Music and Dance Workshops will be held at various locations throughout the grounds. Advance sign up is required. The $10 fee includes admission.

The jousting knights of the North American Full Contact Jousting Championship will be doing preliminary contact warm ups, the kilted athletes of the Highland Games will be doing their "fun" events and harpists will be playing.

You can leave Mill Pond to go to the Saline High School Football Field to watch the Gaelic Football match between the regional champion Detroit Wolfetones Gaelic Football team and the Cleveland Gaelic Football team. (Gaelic Football is a unique combination of elements from ice hockey, soccer, rugby and basketball.) FREE admission.

After the Gaelic Football came is finished, you can return to the festival grounds to enjoy more music and pub times.

FREE Shuttle Bus service will run from the Downtown Saline parking lots to and from the festival grounds until 11:00PM.

Saturday the Celtic Festival begins with a parade starting at Liberty School to the entrance of Mill Pond Park.

The Saline Celtic Festival began as a result of the Sister City relationship between Saline, Michigan and Brecon Wales. It is a volunteer organization comprised of an executive committee, event chairs and many, many volunteers. Area residents are invited to become part of the organizational and volunteer efforts of the festival.

Tickets are on sale at City Hall and are $12.00 in advance and $15.00 at the door.

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10 Mistakes Homeowners Make in Selling Their Home

Thu, 09 Jul 2009 18:31:48 -0500

Preparing your home to sell before coming on the market is critical. Your first showings are always your best, most interested buyers. If the home is not in tip-top condition at the beginning in this Buyers Market it will be passed over.

Are you honest with your sellers?

Do you tell them the truth?

We talk a lot on here about pricing the home correct from the start, being honest, walking away if the sellers won't listen or are unrealistic about the price.... but NOT telling them the truth about condition is NOT doing them any favors in the long run.

Here is a cute little video by Howcast. If you have a hard time being forthright about what needs to be done, then send this their way in a funny little email.

Enjoy!

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Ann Arbor Market Reports Price vs Inventory

Thu, 09 Jul 2009 17:48:24 -0500

The chart below is the average price vs the inventory for all zip codes in Ann Arbor, 48103,48104,48105,48108. If this is not what interests you, then you can sign up on the side bar and receive these reports on a monthly of weekly basis in your email. The charts are "live" which means they change on a weekly basis should you want to follow the trends. The first chart is for single family homes the second chart is for condo's. Search homes for sale in Ann Arbor ********************************************************************************

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Saline Market Reports..Average Price vs Inventory

Thu, 09 Jul 2009 17:44:04 -0500

Saline, Michigan....average home prices and inventory for all of zip codes 48176. Search homes for sale in Saline. *********************************************************************

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Liberty will Reign in America (Again)

Sat, 04 Jul 2009 07:00:24 -0500

Critical to the founding of America was the period from 1700 to 1800. Starting with the colonist who with great sacrifice came here to settle the land continuing through the Declaration of Independence, the Revolutionary War, the Constitutional convention and the early years of George Washington as our First President.

The men who signed the Declaration pledged their lives, their fortunes and their sacred honor.

They were committing an act of treason, which meant one thing…death. They did it with a reliance on the Protection of divine Providence.

They were willing to risk is all for Freedom and Liberty.

As we daily slip into the slippery slope of socialism, it is important to remember the sacrifice that the Founding Fathers and all you fought after the Declaration was signed.

Fourth of July is a good time to read the Declaration that started this quest towards freedom and liberty for all.

Listen to this inspiring clip from the HBO movie on John Adams.

When, in the course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the laws of nature and of nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness. Prudence, indeed, will dictate that governments long established should not be changed for light and transient causes; and accordingly all experience hath shown that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same object evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security. — Such has been the patient sufferance of these colonies; and such is now the necessity which constrains them to alter their former systems of government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute tyranny over these states. To prove this, let facts be submitted to a candid world.

In every stage of these oppressions we have petitioned for redress in the most humble terms: our repeated petitions have been answered only by repeated injury. A prince, whose character is thus marked by every act which may define a tyrant, is unfit to be the ruler of a free people.
Nor have we been wanting in attention to our British brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which, would inevitably interrupt our connections and correspondence. We must, therefore, acquiesce in the necessity, which denounces our separation, and hold them, as we hold the rest of mankind, enemies in war, in peace friends.

We, therefore, the representatives of the United States of America, in General Congress, assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the name, and by the authority of the good people of these colonies, solemnly publish and declare, that these united colonies are, and of right ought to be free and independent states; that they are absolved from all allegiance to the British Crown, and that all political connection between them and the state of Great Britain, is and ought to be totally dissolved; and that as free and independent states, they have full power to levey war, conclude peace, contract alliances, establish commerce, and to do all other acts and things which independent states may of right do. And for the support of this declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.

As the Declaration was being signed, Samuel Adams said: "We have this day restored the Sovereign to Whom all men ought to be obedient. He reigns in heaven, and from the rising to the setting of the sun, let his kingdom come."

On the same day, Benjamin Franklin suggested that the national motto be: "Rebellion to tyrants is obedience to God."

"Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. IT must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our childrens children what it was once like in the United States where men were free." President Reagan.

Last years 4th of July post.

July 4th Fireworks in Michigan

Thu, 02 Jul 2009 10:00:14 -0500

Ann Arbor and Saline don't have fireworks displays. Ann Arbor use to because as a family we always went. But, there are some towns in Washtenaw County that do host them. Manchester, Whitmore Lake, Grass Lake and Ypsilanti.

If you are looking for a fireworks to attend anywhere in Michigan there is a good site to check out, Michigan Fireworks where you can put in your city and check where and what time they start.

Taking photos of fireworks can be hard. Darren Rowse of Pro-Blogger has a some really great tips and techniques of taking those shots.

I thnk I need some help so will try some of Darren's techniques this July 4th.

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I Downloaded FireFox 3.5 this morning and I LOVE IT !

Wed, 01 Jul 2009 10:18:13 -0500

This morning I updated FireFox 3.5 for my browser. WOW

It is faster
You can download fonts
Data is secure
Nothing on the web, or cookies all the data can go away when you log off
You can clear recent history from 2 hours, one day, a week whatever
If you forget where you are you can just go back to your history
Support for video is amazing
Location surfing with maps

Here is the video that says it better than I can.

One thing I really like is when I want to go to another new tab, I no longer have to go to the File Menu. I just click on the + sign and a new tab opens up.(see screen shot)

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693 Woodlcreek Circle, Saline, MI 48176

Mon, 29 Jun 2009 14:28:24 -0500

Gorgeous 3 bedroom condo in the Woodcreek Community. 693 Woodcreek in Saline, MI 48176 is located across from Mill Pond Park and Houghton Elementary and Kindergarten Schools.

Gorgeous wooded views with a full finished walk-out basement.

Association dues are $185.00 per year and cover, lawn, snow removal, exterior maintenance and sprinkles. A short walk to downtown Saline and St. Joseph Mercy Hospital.

First floor master with full bath, 2 bedrooms and bath upstairs with loft area.

The condo is being offered as a "short sale."

$159,900

Virtual Tour

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Speechless Sunday, Happy Birthday Kelan Stewart

Sun, 28 Jun 2009 08:36:24 -0500

Happy Birthday, Kelan!!

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Why Photo Blogs & www.Photos.AnnArborRealEstateTalk.com

Sat, 27 Jun 2009 12:03:39 -0500

One of my goals I had set for 2009 was to do a photo blog.

Inspired by Ines's Miamism Photo Blog, I loved the idea of keeping folks thinking of moving to Michigan up to date on business, University of Michigan, Ann Arbor and Saline with the power of photos.

Enter the Dakno boys...

At ReBar Camp Chicago at a before party, I was talking to Bobby and he told me that Dakno had just launched a new product for Photo blogs. Talk about perfect timing. Since I already had Dakno build my blog and new web-site this was perfect.

I could keep the themes the same but use each site for different purposes. As you may or may not know Google likes different content on page ONE. So I have my web-site, by blog and now my photo blog I am working on getting optimized for each of them.

I use each site for different purposes as my marketing strategy.

Ann Arbor Real Estate for my listings, neighborhoods, and market stat's.
Ann Arbor Real Estate Talk for consumer information about Ann Arbor and Saline
Ann Arbor Photo Blog for showcasing Ann Arbor, Saline and Devils Lake

No here is the really cool thing about it, for those of you thinking, "How do you do all this?"

The Photo blog is tied to my Flickr account.

I take a photo on my phone, email to Flickr and Flickr sends it to my photo blog. Easy huh?

I am so excited to be able to take photo's with people in Ann Arbor and Saline. Of course it will be years to be anywhere near the quality as Teresa but I am going to have fun.

According to the Dakno Marketing blog, via Bobby,

"Photo blogging can be a great way to quickly and easily build credibility with both site visitors and search engines. With this in mind, we wanted to give you a few options for photo blogging and show you step by step how to setup your own photo blog."

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4051 Root Station Rd in Jackson, Mi 49201 (Log Home Retreat)

Fri, 26 Jun 2009 14:17:13 -0500

Truely and amazing home located at 4051 Root Station Rd in Jackson, Mi 49201.

Only minutes from Jackson to Ann Arbor to enjoy and bask in this hand built log cabin. Surrounded by trees and natural surrounding, the pond is stocked and ready for fishing.

Feel the stress roll off your shoulders as you approach this well appointed home with radiant heat floors, energy efficient roof lines, hot tub, screened porch, and floor to ceiling windows where light pours in.

Built for entertaining with a media center, full bar, kitchenette in LL, bath and rec room. Three full baths and a master-suite with a private deck that overlooks the pond and property.

Drive out and enjoy this gorgeous log home, experience the Michigan "Up North" only minutes from Ann Arbor.

Listing Ticket

VFlyer to download

Ann Arbor Real Estate details of listing with multiple photos and listing details.

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33548 Somerset, Westland, MI 48185

Fri, 26 Jun 2009 06:43:23 -0500

Charming home built in 2007 at 33548 Somerset in Westland, MI 48185. Built by Heartland Home Builders.

Great home for First Time Home buyers in Michigan to use the $8000.00 tax incentive to purchase.

This newer 3 bedroom ranch on beautiful corner lot with mature trees. Freshly painted throughout. Covered front sitting porch. 2 car detached garage. Oak cabinets. Appliances included: dishwasher, stove/oven, refrigerator, washer and dryer. Central air conditioning.

All appliances are included, including washer and dryer.

Available immediately.

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Saline, Huron, Pioneer High Schools in Top 6% of Nations High Schools

Thu, 25 Jun 2009 22:07:24 -0500

Newsweek Magazine has announced that Pioneer High School, Huron High School and Saline High School are ranked in the Top 6% of the Nation for Public High Schools.

Public schools are ranked according to a ratio formula devised by Jay Mathews. The number of Advanced Placement, Intl. Baccalaureate and/or Cambridge tests taken by all students at a school in 2008 divided by the number of graduating seniors.

All of the schools on the list have an index of at least 1.000; they are in the top 6 percent of public schools measured this way.

E&E means Excellence and Equity Sub.Lunch is the amount of students receiving federally funded lunches. (Not sure why THAT matters) Thirty nine high schools in Michigan are in the Top 6%.

Read the entire report here on Newsweek.

Saline High School

Pioneer High School

Huron High School

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SHOULD I PAY MY MORTGAGE? SHOULD I STOP PAYING MY MORTGAGE?

Thu, 25 Jun 2009 12:21:32 -0500

Ann Arbor and Saline Michigan Residents below is a post by Richard Zaretsky an attorney from Florida.

It is a reblog of his post.

Each state has different laws and it would be advised to check with a Michigan Real Estate Attorney.

However since I get asked this question ALL the time I wanted to reblog Richards post.

Missy Caulk

Via Richard Zaretsky, Florida Real Estate Attorney (Richard P. Zaretsky P.A. ):

This seems to be THE NUMBER ONE question I get. Unfortunately there are several answers and which is correct for you depends on the Circumstances. I will address the common scenarios in this article.

Policy in my office is to never "tell" - as in "instruct" - our borrower client to pay or not to pay their mortgage. Paying or not paying has a lot of collateral effects and the borrower needs to know what they are before making the decision. We don't make the decision for the borrower (our client) because the effects of paying or not paying are not going to affect me - but they will affect the client, so it is the client that must make the final decision.

Let me make one issue clear - when we are hired to help facilitate a short sale or loan modification it is far easier for us to negotiate with the lender if the payments are late, but it is almost never a requirement. The exceptions to which will be discussed later in this article. Additionally, internal rules change at the banks constantly. A new client came in totally frustrated. They called their bank to help with a modification and the bank said they could not address their situation until they were at least 60 days late. So the near perfect (800+) credit score couple stopped paying for 60 days and then called the bank back. Now the bank says that because they are 60 days late they cannot speak to them about a modification! The point is, if you don't have to be late then why voluntarily create a late payment credit history that will adversely affect your credit-dependent life almost immediately and for years to come?

SO LET'S GET INTO IT - Danger - this is a long article and it covers a lot of ground!

Short Sale:

A borrower that is current and contemplating a short sale wonders if they should stop paying their (first) mortgage. They are upside down and until now they have been current. However they are paying the mortgage at a cost of not paying other bills. (Other or different facts may be that they are paying all their bills but taking the money from savings or a pension fund to make those payments, or they are borrowing money from another equity loan).

Generally, it is not a good idea to get into debt to pay your mortgage, unless you have a solid plan to both (i) keep the mortgage current and (ii) repay the additional indebtedness you are creating. It is not like taking from one pocket to put into another - it is more like taking from someone else's pocket to pay your bills. This would include credit card loans as the source of funds. It all has to be paid back, so if you don't have a plan to pay it back, don't borrow it in the first place! You are only digging a bigger hole for yourself and making it harder to get out of the hole.

If you are taking from your pension or savings money, again you better have a rock solid plan to get that money back into those accounts, or there is no sense in giving up that hard earned and usually irreplaceable retirement money, especially considering these are monies that are usually protected from creditors' judgments including those your mortgage lender could obtain (deficiency judgment)..

Of course the "amount" of money you have "in reserve" comes into consideration. If you have 2 million dollars in reserve and you decide to spend 10% of it to keep the loans current until you can short sale the property, that plan has a basis that the 10% is not going to make a difference in the way you run your life over the remaining time you have left as a mere mortal.

Sometimes, but rarely, we run into a lender that says they won't approve a short sale or modification because the borrower is current with his payments. When we have encountered this it is in most cases associated with a government backed loan, (but later on we will show you why this may be motivated by plain greed on the part of a loan servicer). A properly compiled financial snapshot of the borrower should show why they are current and what will happen if the short sale or modification is not approved.

Your decision on how to proceed should be based on what goal you are trying to accomplish and how you plan to get to that goal (see how to determine your goal).

Mortgage Modification:

Apart for some voluntary government programs regarding (Fannie Mae or Freddie Mac) government involved mortgages, I know of no lender that absolutely will not deal with a borrower who is current with their mortgage payments. Lenders deal with all sorts of situations and "absolutely not" is just not in the vocabulary. A typical borrower calling a lender may hear that they must be late, but that is more of a "vetting" statement than an absolute policy.

The exceptions are some government program guides for modification. The first step to seeing if your loan comes within this exception is to see if it is a Fannie Mae or Freddie Mac loan. You can do this online at the Making Home Affordable site. Many servicers and lenders whose loans are not "government backed" are now choosing to follow this government plan (known as the Home Affordable Modification plan or more affectionately called the "Obama Plan" - see below) for the simple reason that they are being compensated by the government for each successful modification they execute within its guidelines, and either the servicer or lender receive a residual bonus for the loan staying current under the modification. In these cases we have seen non-government backed loans insist on the borrower being late to qualify for modification as well. What is confusing on this point is that when the plan was introduced it included modifications (and compensation for such) for current loans as well. However, we are told time and time again from the lenders directly that they must be late to qualify. There is no such rule in the guidelines.

While this is contrary to what has been published by the government about the plan, keep mind that following the plan and any of its various aspects is entirely voluntary and up to the Lender or servicer. They can pick and chose from this plan as they see fit for their own internal reasons. Here is a more interesting twist - a servicer that modifies a delinquent loan is paid more under this incentive plan than if the borrower were to modify while the loan is current! If the borrower is current, the servicer can receive up to $3,500 in incentive fees from the government. If the borrower is delinquent, the servicer can receive up to $4,000 in incentive fees from the government. Thus it seems that it pays ($500 to)the servicer to encourage a borrower to be delinquent!

We often see a client that fits the profile for modification under this government plan. Some of these plans are said to require that to be qualified the borrower must be late 60 days (see Guidelines page 5 at bottom). But in fact, being late is not a requirement, but only one factor of many (see Guidelines page 16 at the top - "However, a NPV (net present value) positive result is not necessary to qualify a loan for a Home Affordable Modification"). If the goal is to qualify under such a plan as put in place by the lender at that time, then to accomplish that qualification the borrower may need to make themselves late, but that cannot be determined in a 2 minute telephone call with a lender representative. I cringe when we go this route because just like these "plans" came into existence, I can see them change the plan thus leaving the now 60 day late borrower with ruined credit scores that occurred needlessly.

Generally about a quarter of our modification clients never go late and still get a modification offer from the lender. However, keep in mind that nearly all lenders put up as their first line of defense the policy that going late is a necessity to qualify. We can only speculate this is done to deter the enormous inflow of loan modification requests from borrowers that would come in if this was NOT said to be a requirement. It also helps address those in the most dire amount of need first.

The Pro's and the Con's:

The general rule of thumb we use is if you can pay your mortgage and maintain your life's necessities, you may consider keeping the loan current, taking the points in this article into account. However, if you need to choose between buying food or medications and paying the mortgage, the decision that should be made is clear: your life necessities take precedent.

Here are the pro's to consider when in the short sale or modification process. Keeping the loan CURRENT has the following benefits:

a) Your credit score is not dinged until the short sale transaction occurs (and not at all in most loan modifications) and your overall credit score reduction will be minimized, and b) You will remain in good standing with your lender without worry of penalties, fines, or a foreclosure.

The "con's" of keeping the loan current are that:

(a) You will be out of pocket for the monthly mortgage payment (monies which you may or may not need to survive), and

(b) Your lender may question the sincerity of your claimed hardship, and you may be spending funds that would otherwise be potentially (but rarely) forgiven by the lender. In addition, occasionally the lenders in a short sale may require a lump sum payment above the sale amount from the borrower to forgive the debt. Coming up with that money is sometimes the difference between a deal or no-deal. If you can put your mortgage payments aside and stockpile them, it will help you cover that potential lump sum.

A similar pro/con approach applies to GOING DELINQUENT with your mortgage. In favor of going late is being able to keep the unspent mortgage payments in your pocket (or applied towards other necessities as the case may be) in which event your hardship may appear more sincere to the lender. On the other hand, there are very real consequences to going late with your mortgage payment:

a) You WILL incur late fees and other penalties on the late interest. Usually this is not a large issue as it is part of the forgiven debt in a short sale and usually forgiven in a modification, but it is something to consider,

b) Your credit score downgrade will be harder as you will compound the short sale hit with a 30 day late, 60 day late, etc, (and if this is a modification you will make a non-negative credit score event turn into a negative credit score event), and

c) You will eventually cross a threshold (typical industry standard of 90 days late) where the lender will initiate a foreclosure action in State court.

Going Late on Your Second Mortgage:

Often a borrower comes to us and says that they are late on the first mortgage but current on the second mortgage. The second mortgage is almost always totally upside down with no equity left in the property to secure that financial obligation. The borrower says they paid the second mortgage because they had the money for the smaller payment (second) mortgage but not the larger amount first mortgage. Our answer - if you don't pay the first mortgage they are going to foreclose it and then paying the second mortgage is not going to save your house.

Lately we have seensecond mortgage lenders with 90 day late mortgages skipping the foreclosure process (since if they cause a sale of the house it is sold subject to the first mortgage, and thus any buyer still has to pay the first mortgage, which usually makes no economic sense). Instead the second mortgage lender sues the borrower on the promissory note only and gets a money judgment that they can keep for a long time (20 years in Florida).

So if a client says they are paying the second mortgage but not the first mortgage, we usually suggest they look at the common sense approach and what are they likely to gain or lose by doing so.

Effect of Non-Payment / Late Payment on Credit Score:

This is a big question and nowhere is the answer clear cut. Definitely if you get a report on your credit that you were "late" (in mortgages that means 30 days or more late) then your credit has been "dinged" and your credit score is adversely affected.

Credit scores are used for many purposes, including the amount of credit you can get on a credit card, the interest rate you get on credit cards, car loans and mortgages, your ability and price of life and disability insurance and even car or house liability insurance, your ability to get a certain type of job, or to establish business relationships, and your ability to rent a place to live, to name a few. So credit scores are important. If you want to better understand credit scoring you can see the Federal Reserve Board's Report to Congress from April 2008.

How much your credit score is affected by a 30, 60 or 90 day late report depends on a lot of other factors about your financial well being, your past credit history and myriad other issues. Generally though we have our clients reporting drops of as little as 50 points for a no late payment short sale or up to 150 points for a short sale with multiple late payment reports. We have seen an 800 go to 720 and we have seen a 740 go to 500. It all depends on too many uncontrollable credit issues to be able to give a formula that works for everyone. For a discussion on credit scores this our past article.

Confused?

Rightfully so. The fact of the matter is that we are in uncharted waters and there is no industry standard for Short Sales or Loan Modifications, which makes pinning down exactly what the Lenders may do near impossible. Pile on the fact that there are a large number of lenders out there and each have their own internal policies which change as readily as the tides. The best anyone can hope to do is make an educated decision, set a plan, and be ready for anything.

Copyright 2009 Richard P. Zaretsky, Esq.

Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader.

Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide! Shortsales@Florida-Counsel.com New Website www.Florida-Counsel.com. See our easy to find articles at SHORT SALE AND LOAN MODIFICATION TABLE OF CONTENTS

Are you a People Pleaser, Can you say No?

Wed, 24 Jun 2009 12:28:12 -0500

Are you a People Pleaser, Can you say No?

I know, I know all of us to some extent are people pleasers in some way. We want to make everything smooth for our clients. Nothing wrong with that, it is our job.
But, sometimes we just can not say no, or if we do we feel guilty. We want folks to like us, right?

Can you say ‘’No” to a client at any time?

If not perhaps you are too much of a people pleaser. It’s ok to put people first some of the time just not ALL the time.
People pleasers are trying to avoid confrontation, because they want everyone to like them. They are afraid they will be rejected so they go out of their way to please people and avoid anything confrontational. People pleasing taken to the extreme doesn’t work and only creates the opposite effect of what you want.

Is this you?

•    Are you driving buyers around for months on in, with the inventory high and resenting every minute of it?
•    Are you afraid to ask them to sign a Buyer Agency Contract for fear of them saying no and you not working with them?
•    Are you afraid to tell them the truth of the list price their home should be priced at?
•    Are you afraid to ask for price reductions?
•    Are you afraid to shut the door at your office or home so you can prospect without interruption?
•    Afraid you will be rude if you don’t stop and chit chat in the hall?
•    Afraid to get buyers pre-approved before showing them homes?
•    Afraid to not accept every friend request on FaceBook or Twitter?
•    Do you feel out of control, running around like a chicken with your head cut off, not in charge of your day, your clients, your time?

STOP

•    Learn to say No, it’s OK to say No.
•    They will still respect you, more importantly you will respect yourself
•    Speak with authority about home values to your sellers, let the numbers speak for themselves.
•    If you respect your time in the office then agents will respect you. If not who cares?
•    I have 143 people waiting to be friends in Facebook. (No biggy)
•    I quit following folks all the time on Twitter. (Big deal)
•    Your needs and time are just as important as anyone’s. Believe it!
•    You will gain confidence in yourself when you set the boundaries for your time, the home price you set, your prospecting time and the importance of those Buyer Agency Contracts

Start now and accept you are a great lender, stager or Realtor that you are a kind,loving, person who has your clients best interest at heart. They will respect you if you respect yourself.

Don’t compromise who you are, how you know to do business to get the approval of others.

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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

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5449 Waterfield Ct. Ann Arbor, MI Waterways Subdivison

Mon, 22 Jun 2009 22:22:52 -0500

5549 Waterfield Ct is located in Waterways subdivision in Pittsfield Township with Ann Arbor mailing address and Saline Schools. Very well appointed home with five large bedrooms and 4 1/2 baths.

Located on a cul de sac with a pond view. Waterways has small ponds and fountains througout the subdivision and you can enjoy this one on your screened in porch with a fan to keep cool.

Purchased in 2000 at $465,00, appraised a few years later for $625,00, now being offered at $429,900.

Flyer to download from VFlyer.

Watch the Real Estate Show Virtual Tour

Learn about Waterways Subdivision

Discover Saline Schools

See the complete listing details at Ann Arbor Real Estate

View a complete set of photos on Flickr. of 5449 Waterways.

One of my favorite rooms on 5449 Waterfield Ct is the remodeled master retreat, with a fireplace, breakfast-bar, sitting area and luxurious remodeled bath.

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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Free Home Evaluation

Search the Ann Arbor Area MLS.

Google Profile

Market Reports in Real Time Updated Weekly

Profit from Technology for Realtors and Lenders

Speechless Sunday...ouch

Sun, 21 Jun 2009 19:30:59 -0500

My husband had a great Father's Day.

He carried me around all day, literally.

I fell last night with a platter full of steaks walking to the grill. The steaks stayed on the plate, but I have layed around all day being waited on hand and foot.

I told him I would change days with him. :)

Grab Your Tissues... A Lesson in Character

Fri, 19 Jun 2009 21:07:21 -0500

Last March at the Keller Williams Convention in Orlando, Sara Tucholsky spoke.

This is her story about baseball, being at bat, NEVER hitting a home run, hitting one, breaking your ACL,last time at bat in your whole career.

You'll have to watch the video to see what happens but I promise you will be inspired.

The softball game will be long forgotten but not Sara's story.

I came home from KW convention and cried just telling my family about it. Today I found the video that was shown there and yep had to grab the tissues again.

This is NOT a sad story but about character.

Character is stepping up and doing the right thing at the right time.

Ypsilanti, Michigan Market Reports

Fri, 19 Jun 2009 20:51:18 -0500

Ypsilanti City is zip code 48197 and includes both Ypsilanti Schools and Lincoln Consolidated School Districts. Willow Run is zip code 48198. Both of these area's have been the hardest hit by foreclosure's and short sales.

Here is a chart showing the average sale price and the amount of inventory.

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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Free Home Evaluation

Search the Ann Arbor Area MLS.

Google Profile

Market Reports in Real Time Updated Weekly

Manchester, Salem, Whitmore Lake Michigan Market Data.

Fri, 19 Jun 2009 20:40:30 -0500

Manchester, Salem Township, and Whitmore Lake graph of inventory and market data. Our team of six buyer agents serve all of Washtenaw County.

Search homes in Washtenaw County.

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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com