Uh Oh! A sewer backup!

When you wake up in the morning, or you return home after work, you never want to hear “Uh Oh! A sewer backup!” If you do, your next thought would likely be “Will my homeowner’s insurance cover this?”

Spring and Fall tend to be our wettest seasons in Saline (this past Spring was, for sure!), making our homes most susceptible to the backup of sewer or drain lines. While these events don't occur often, when they do, the problem can be a small disaster (I know first-hand, as one of my rental properties had such a backup recently). Did you know that a standard homeowner's insurance policy excludes coverage for such an event?

It's true. The backup of sewer and drains, as well as the failure of a sump pump, is excluded from most homeowner’s policies. The damage you sustain from either of these problems will not be covered, and you'll be responsible to pay for the loss (and the clean up). If you have a finished basement, or use your basement area for storage, you shouldn't go without this coverage endorsement.

Heavy rains can trigger a backup. A storm sewer or sanitary sewer backs up into your home and usually comes in through a sump well, washtubs in the basement, or toilets in the basement. However, the damage can happen anywhere in the house. Sump pump failures normally occur from power outages or motor failures. Sump pumps run on electricity, and during a bad storm, the power can go out. That’s when you need the sump pump the most, to pump the water from the heavy rain out of the basement.

The damage can be quite costly. Normally damage occurs in the basement, which houses the mechanical systems of the house, such as the furnace, hot water tank, washer and dryer, and the numerous items we tend to store there. Water or sewage usually destroys anything it comes in contact with. For the possible thousands of dollars in damage, it would be well worth purchasing additional coverage with your homeowner's policy to cover such an event.

Be sure to ask your insurance agent about this coverage (to make sure you already have it on your policy). This coverage can often be purchased as an endorsement on its own, or with an endorsement that will expand or increase other coverages on the policy. The additional cost runs typically between $60 and $90 annually (well worth the peace of mind it brings). The key is to ask your agent or company what you best option is, and BEFORE you need. That way, you can breathe a bit easier when you hear “Uh Oh! A sewer backup!”

If you like what you’re reading here, please subscribe. Thanks!

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

You can search for homes and condos in Saline here.

Follow me on Twitter!

Vance's Bookshelf

If you’ve been following my bookshelf reports for any time, you know that I enjoy history and biography. But this week’s reading took a different course – Greek tragedy.

The Oresteia, by Aeschylus, was my first venture into Greek tragedy since reading Homer back in college. Here’s a quick review:

The Oresteia is a trilogy of works by Aeschylus – Agamemnon, The Libation Bearers, and Euminides. Agamemnon describes his return from the Trojan War and his murder at the hands of his wife, Clytemnestra. The Libation Bearers describes Clytemnestra’s murder by her son, Orestes, in vengeance for her killing of his father (Agamemnon). Finally, in Euminides, we learn of Orestes’ acquittal at Athena’s court. Overall, the trilogy traces the evolution of justice in human society from blood vengeance (the killing of Agamemnon) to the rule of law (the acquittal of Orestes). This particular translation kept my interest fairly well, as it retains the essence of the Greek language, while it’s totally readable in present-day English. Of course, there are some unusual phrases throughout the book, but that’s to be expected.
Here are a few of my favorite quotes from the book:

Your words have overcome my disbelief, and I believe them, for a willingness to learn returns youth wisely to the old. (p.64)

A life unenvied is an unenviable life. (p. 76)

Charge answers charge, and who can weigh them, sift right from wrong? The ravager is ravaged, the slayer slain. But it abides, while Zeus on his throne abides, that he who does will suffer. That is law. Who will cast out the seed of curses from the house? (p. 99)

For though men idolize success as if it were a god, no, more than a god, Justice finds a way to right the balance. And some it swoops down on suddenly in the bright day; some it waits for, tensing, in the twilit shadows, and some it grabs only after black night has wrapped them in its useless shroud. (p. 109)

Don’t wipe away the seed of Pelops. So long as we live, you yourself can’t die, though dead. For children keep a man’s fame living on after he dies; like corks that buoy a net up, saving the flaxen meshes from the deep. (p. 125)

I pray that the crazed voice of civil strife that feeds on evil and is never full may never roar through this land. And may the earth not guzzle down the black blood of its people, and then, hot for revenge, welcome the city’s ruin, murder paid back with murder. Instead let citizens give joy for joy, loving the common good, hating a common foe: they’ll cure most ills this way. (p. 185)

Having now read a Greek tragedy, my appetite is set for more – though I’ll mix them in between my usual reading in history and biography. So look for more reports from my bookshelf!

If you like what you’re reading here, please subscribe. Thanks!

If you have questions about your specific situation, or if you’re considering buying any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

You can search for homes and condos in Saline here.

Follow me on Twitter!

Bugs

The weather has been warming up, so you’ve probably noticed that bugs are getting active again. In some of the vacant homes I’ve shown recently, there are various bugs on the inside windowsills, looking for a way to get out into the sunshine. Alas, many of them end up dead on the floor below the window.

As a kid, I was always fascinated by bugs (insects, to be more “formal”). My parents, noticing my interest in bugs, encouraged my interest, and got me involved in 4-H. If you don’t know about 4-H, ask me. If you do, then you know how much fun I had with my bug collection as a kid.

The photo above is from my kid’s bug collection. In fact, my daughter won a “best in show” award at the Washtenaw County 4-H show in 2006 and 2007 with her collection. Is it any surprise where she got her interest from?

Yes, bugs can be creepy, and even damaging to your home – that’s why we have “Pest Inspection” contingencies in our offers to purchase Saline real estate. But bugs can also be beautiful – witness the butterflies in the photo above – so be sure you’re looking above eye level at times so you can see first-hand!

If you like what you’re reading here, please subscribe. Thanks!

If you have questions about your specific situation, or if you’re considering buying any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

You can search for homes and condos in Saline here.

Follow me on Twitter!

Looking for a new owner - 1469 Middlewood, Saline.

I’ve written before about a beautiful home for sale in Saline – 1469 Middlewood. We’re still looking for that perfect new owner! Please take a look – perhaps you know someone who’s looking for just this home?

More info here.

More photos here.

Video walk-through here.

Ann Arbor condo for sale - 1325 S. Maple

Take a look at this new listing of an Ann Arbor condo for sale at 1325 S. Maple (in Walden Hills). Priced at $115,000, it is available immediately.


Welcome to 1325 S. Maple, #303, in the Walden Hills condos of Ann Arbor! This is a beautiful top-floor 2 bedroom corner unit. You’ll enjoy a spacious living room, a fireplace with a beautiful mantle, and a wall of windows leading to the balcony (which faces west). You’ll also find showcase-designed window cornices, a new furnace, and laundry facilities in the unit. There is locked storage in basement. Walden Hills has a Clubhouse with an indoor pool, a raquetball court, fitness center, sauna and large entertainment room. Walden Hills is also close to highways, shopping and bus lines. The Association fees include water, sewer and carport.


View Larger Map

Here’s a brief walking tour of the condo:



You can see more photos of the condo here.

Notables:
* City of Ann Arbor
* Taxes $2147 (2008, Homestead)
* Association fee $290/month
* Schools: Dicken, Slauson, Pioneer

If you’re considering the condo lifestyle in Ann Arbor, you owe it to yourself to check out this beautiful condo. I’d be happy to give you a tour, so talk to someone with local knowledge! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate.com”.
You can search for condos in Ann Arbor here.

566 Hobart Court, Saline, MI

There's a new listing at 566 Hobart Court, Saline, MI. Priced at $399,900, it is available immediately.


Welcome to 566 Hobart Court in the York Place subdivision of Saline! This is a custom-designed, original-owner home on an acre lot. In the kitchen, you’ll find maple cabinets and Granite counters. The kitchen is open through to the breakfast nook and the family room, which features vaulted ceilings and a mantled fireplace. The large dining room has space for entertaining. There’s also a first-floor study, off the foyer. You’ll find all the amenities you’d expect in the Master suite, plus the unexpected – a 2nd floor laundry. There are showcase colors throughout. The finished basement includes a wet bar and room for a home theatre. In back, you’ll find an incredibly beautiful 2-tiered patio and gardens surrounding the in-ground pool. This is a fabulous home!



View Larger Map
Here’s a brief walking tour of the home:



You can see more photos of the home here.

Notables:
* York Township
* Taxes: $6514 (2008, homestead)
* Schools:
K-1: Houghton Elementary
2-4: Harvest Elementary
5-6: Heritage School
7-8: Saline Middle School
9-12: Saline High School

If you’re considering a newer home in the Saline area, you owe it to yourself to check out this home. I’d be happy to give you a tour, so talk to someone with local knowledge! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate.com”.


You can search for homes in Saline here.

Be ready for your property taxes

It’s that time of year for you to be ready for your Property taxes.

You should receive, from your local assessor, a notice of assessment change sometime later this month (February) or the 1st week of March. Here are a couple of examples:

· Lodi and Pittsfield Townships will mail out their 2009 assessment notices during the last week of February.
· The City of Ann Arbor will mail out their 2009 assessment notices during the 1st week of March.

The notices of assessment will give you the proposed 2009 State Equalized Value (SEV) and Taxable Value (TV). Your property taxes are based on TV, while the SEV is “supposed” to give you an idea of the market value of your property. We all know that the market value of our property has declined in the past year, so you should look for your SEV to decline this year. Each municipality may have a different rate of SEV decline for last year.

Your TV this year could change for 3-reasons:

1. The rate of inflation (Consumer Price Index, or C.P.I.) was 4.4% for 2009 for everywhere in Michigan – meaning that your TV may rise by 4.4% this year (Gasp!);
2. Any improvements that you made to your property in 2008 – meaning that if you improved your property last year, you should expect that your taxable value would go up by the amount of your improvement;
3. If you bought your home in 2008, your TV would un-cap and go to the same level as the SEV.

In your notice of assessment will be the schedule for the Board of Review (BOR) for your municipality. For example, in Lodi Township (where I live), the BOR is scheduled for 9am-3pm on Monday, March 9, and from 3-9pm on Tuesday, March 10. Your municipality will have a similar schedule. Typically, your appointment time with the BOR will be ten minutes. During that time, you will have an opportunity to present your case for the BOR to change (lower) your SEV or TV, or both.

There is one and only one question that typically matters with the BOR - does the SEV or TV exceed 50% of the market value of the property?

Things that are irrelevant to the BOR include:
· Your property taxes are going up while values are dropping;
· Your property taxes are higher than those of your neighbors;
· Your “feeling” that your property taxes are excessive.

Even if you are right on each of these three items, it doesn’t matter. What does matter to the BOR is that you show that your new TV is greater than 50% of the market value of your home as of December 31, 2008.

The window of time between receiving your 2009 notice of assessment and making an appointment to appeal with the BOR is narrow. You need to be ready for the notice, and call quickly to schedule an appointment of protest with your BOR. If you miss the BOR schedule, once the BOR adjourns, then your SEV & TV are set for the year.

In short, be ready for your Property taxes!

If you like what you’re reading here, please subscribe. Thanks!

If you have questions about your specific situation, or if you’re considering buying any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

You can search for homes and condos in Saline here.

Follow me on Twitter!

Five Deal Killers in Saline real estate

No matter the condition of the real estate market, you’ll want to avoid these five deal killers in Saline real estate.

1. Skipping the pre-approval process. You do not want to pick out your dream home, tell everyone about the home you are buying, and spend money for the appraisal and inspections, only to find out that you are not eligible for a mortgage to pay for it. Do you know what your new dream home is going to cost you a month? I’ve written before that mortgages are still available in Saline. Let’s be absolutely certain that you have been pre-approved for your mortgage, so you’ll know exactly what you can afford!
2. Not understanding what you are signing. The offer to purchase that you sign is a legally binding contract. If you are selling, the buyer can force you to sell. If you are buying, the seller could sue you for any loss they incur as a result of your not completing the purchase of their home. It is a good idea to talk with an attorney BEFORE you sign the offer to purchase. Make sure that your purchase offer expresses completely your understanding of the agreement. In God we trust – everything else must be in writing, to be sure that you can enforce your agreements.
3. Letting Emotions override the facts. Never let your excitement over any Saline home or condo cloud your vision. You can jump up and down with excitement AFTER you get back in your car, or once the deal closes. Otherwise, the seller will see your enthusiasm, and take advantage of it. Trust me, it happens!
4. Poor timing. If you’re considering a home involved in a short sale, give yourself a few extra months to complete your transaction. The bank you want to buy from may take weeks, or even months, to accept your offer. There could be hundreds of other possible delays. If you are a first time buyer, you may want to time your move with the expiration of your lease – but remember that it is a whole lot easier to pay for one extra month of rent at the end of your lease than to try to find a place to live for a month while waiting for your “short sale” deal to close.
5. Missing the whole picture. The wisest investor I know taught me early that he never made money when he sold a property – he made money when he bought the property. For that reason, think about when you will sell your Saline home or condo before you buy it. For example, a one bedroom home or condo might be great for you, but there’s a limited market for re-sale, which may add to your time to eventually sell it, or it may result in a reduced market value when you sell. Think about your property taxes, commute times to work and conveniences, the quality of the local schools, deed restrictions (if the property is in a homeowner’s association), and whether the home will fit your needs five, ten, or twenty years from now. Drive by the home at various times of the day - a quiet street during the day may be a zoo at night, or traffic might make getting to or from your home a challenge. Not being able to back out of your driveway in the morning can sure make for a bad start to each day!

If you like what you’re reading here, please subscribe. Thanks!

If you have questions about your specific situation, or if you’re considering buying any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

You can search for homes and condos in Saline here.

Follow me on Twitter!

Saline Sales Report for January 2009

Here’s the latest Saline Sales report for January 2009. This is an update to my regular market report which I report around the middle of the month. If you are interested in Saline real estate, here’s what happened in January 2009.

Selling Prices
Saline Homes Active Sold Lowest Highest Months of Supply
City of Saline 75 8 $77,100 $189,000 9.4
Lodi Township 49 1 $213,000 $213,000 49
Pittsfield Township 56 3 $282,000 $344,790 18.7
Saline Township 16 1 $73,375 $73,375 16
York Township 45 1 $175,000 $175,000 45
Average 17.2

The average months of supply for January rose from 8.9 months in December. This is to be expected in mid-winter, especially in light of the cold and snowy weather in January. While the number of homes sold in January declined from December, we didn’t see a huge increase in the number of homes for sale, either.

Selling Prices
Saline Condos Active Sold Lowest Highest Months of Supply
City of Saline 26 1 $187,500 $187,500 26
Lodi Township 5 0 -- -- --
Pittsfield Township 6 0 -- -- --
Saline Township 1 0 -- -- --
York Township 0 0 -- -- --
Average 26

Unlike for homes, where there were still plenty of sales, the market for Saline condos showed significant weakness in January. There was only one condo sold, compared to three sales in December. Again, this could be attributed to the weather we experienced in January. We’ll be closely watching the market for Saline condos in the coming months, looking for a sign of an upturn.

All in all, don’t keep living Groundhog Day, over and over. So something different! Help yourself to be a part of the “sold” statistics for next month’s report!

If you’d like to keep up with the Saline real estate market, please subscribe. Thanks!

If you’re looking to buy or sell any Saline real estate, or have questions about your specific situation, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

You can search for homes and condos in Saline here.

Four good things about this winter in Saline

Here are four good things about this winter in Saline:

1. The heavy blanket of snow (about 12” on my yard) is providing a terrific blanket for the farmer’s crops (winter wheat) and fields, and for our garden plants, during this extended cold spell. If we had this super-cold weather on bare ground, our plants would be wiped out!
   
2. After a winter like this, we will REALLY appreciate Spring this year! Once it hits 50 degrees, we’ll see convertibles with their top down, soaking up the warmth!
   
3. When the snow finally does melt (and yes, it will melt), all of the runoff will help to fill our ponds, rivers, and lakes – especially the Great Lakes. Lake levels have been falling since the early 1980s, so it’s time to refill the lakes.
   
4. Since the start of Winter (December 21, 2008), there have been 27 homes and 2 condos sold in Saline.
   

I hope this good news brings a smile to your face today!

If you like what you’re reading here, please subscribe. Thanks!

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

You can search for homes and condos in Saline here.

Follow me on Twitter!

Four good things about this winter in Saline

Here are four good things about this winter in Saline:

1. The heavy blanket of snow (about 12” on my yard) is providing a terrific blanket for the farmer’s crops (winter wheat) and fields, and for our garden plants, during this extended cold spell. If we had this super-cold weather on bare ground, our plants would be wiped out!
2. After a winter like this, we will REALLY appreciate Spring this year! Once it hits 50 degrees, we’ll see convertibles with their top down, soaking up the warmth!
3. When the snow finally does melt (and yes, it will melt), all of the runoff will help to fill our ponds, rivers, and lakes – especially the Great Lakes. Lake levels have been falling since the early 1980s, so it’s time to refill the lakes.
4. Since the start of Winter (December 21, 2008), there have been 27 homes and 2 condos sold in Saline.

I hope this good news brings a smile to your face today!

If you like what you’re reading here, please subscribe. Thanks!

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

You can search for homes and condos in Saline here.

Follow me on Twitter!

Ann Arbor home for sale - 4 Manitou Court

Take a look at this new listing of a home for sale in Ann Arbor Michigan, located at 4 Manitou Court, Ann Arbor, MI 48108. Priced at $79,900, it is available immediately.

Welcome to 4 Manitou Court in Ann Arbor! This 3 bedroom home is great for either owner-occupied or investment. It is presently leased $925/mo., so at this price, it will provide a cash return! The oak floors throughout are nicely refinished. There is an updated tiled bath, and oak cabinets in the updated kitchen. The lot is extra-deep lot, and includes a shed for storage, located on a quiet cul-de-sac location. You can walk to the nearby elementary school. This home is approved for a Short sale approved, and shown with 24-hour notice.

View Larger Map
Here’s a brief walking tour of the home:

You can see more photos of the home here.

Notables:
* City of Ann Arbor
* Taxes: $2265 (2008)
* Schools: Pattengill/Bryant, Tappan, Huron

If you’re ready to start your search for an Ann Arbor home or condo, talk to someone with local knowledge! I’d be happy to meet with you. Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

You can search for homes and condos in Ann Arbor here.