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.


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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.

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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.

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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.