Trees Can Help Sell Your House!

Fall - A Great Time to Plants Trees
The American Nursery & Landscape Association (ANLA) released information about a study on the "Impact of Improved Landscape Quality and Tree Cover on the Price of Single-Family Homes" that was published in Horticulture Research Institute Journal of Environmental Horticulture.

The authors, Andrea Stigarll and Emmett Elam write that, "Approximately 30% of the increase in sale value was accounted for by added tree cover. The results show that each $1.00 invested in upgrading an average landscape to excellent quality returns $1.35 in added property value." While most homeowners know that landscape is a big draw for buyers, they are unsure of how much and what kinds of landscaping affect the property value.

The study reports that, "General tree cover adds 2 % to 9 % to the value of existing homes and 7 % for new construction on tree-covered lots." Just a single tree can add up to 2 % to the property value, according to the study. Hedges, walls, landscaped curbs, and dense vegetation can each add 2 % to 4% to the property value. And if your home has more trees than nearby homes, the value shoots up by about 7%. Sophisticated designs in landscape affect property value in a very positive way.

Oakland county offers a wide variety of trees to select from - make sure your selections will thrive in your yard.

HOW DOES A SHORT SALE IMPACT YOUR CREDIT REPORT?

Although it’s considered better than a foreclosure, a short sale is still reported as a negative on a credit report. However, with the millions of homeowners now in some stage of pre-foreclosure, the stigma is lessening and the number of short sales is increasing.

The main advantage of completing a short sale is that you may be eligible to buy another home in as little as two years as opposed to having to wait as long as five years. These “rules” may change in part with time. In the eyes of a future lender, someone who stuck it out, to do the right thing and complete a short sale should be more worthy of their trust than someone who just walked away and let the home go into foreclosure.

Options to Foreclosure and their effects on credit
REPAYMENT PLAN
When you fall behind on the payments, you'll talk to the “loss mitigation” department. Their aim is to get you caught up, and the sooner the better. They will require at least a partial payment now with the balance of the payments over a period of time that they allow.
Effect of a successful repayment plan on your credit record: Minor to moderate, depending on how far you fell behind.

FORBEARANCE
The loan servicer might agree to suspend payments for a few months, until you get back on your feet financially. A forbearance isn't for an indefinite period; it might be for one or three or six months, and after that, you'll be expected to make full payments on time.
Effect of a successful forbearance on your credit record: Minimal to moderate, depending on the circumstances.

LOAN MODIFICATION
A loan modification is similar to a refinance: The lender agrees to alter the loan, but with few or no fees. The lender might reduce the interest rate, change the loan from an ARM to a fixed-rate mortgage, or raise the monthly payment by a few dollars so you pay off the entire loan, including the past-due amount, by the loan's original end date.
Effect of a modification on your credit record: Minimal to moderate, depending on how far behind you fell on your monthly payments.

DEED IN LIEU OF FORECLOSURE
This option often is referred to as a "deed in lieu." The borrower offers to hand over the deed to the property so the lender can take possession of the house and sell it. The lender can refuse to accept a deed in lieu of foreclosure, and it often does, for a couple of reasons. First, the lender has to incur the costs of fixing up the house and paying real estate commissions. A short sale is preferable. Second, the lender inherits any problems with the title. Foreclosure clears away many title problems.
Effect of a deed in lieu of foreclosure on your credit record: Severe.

PARTIAL CLAIM - available only for HUD loans
Under the Partial Claim option, a mortgagee will advance funds on behalf of a mortgagor in an amount necessary to reinstate a delinquent loan (not to exceed the equivalent of 12 months PITI). The mortgagor will execute a promissory note and subordinate mortgage payable to HUD. Currently, these promissory or "Partial Claim" notes assess no interest and are not due and payable until the mortgagor either pays off the first mortgage or no longer owns the property.

SHORT SALE
In a short sale, you sell the house for less than you owe. You can't do a short sale without the lender's permission and cooperation. You have to be behind on your payments and be able to demonstrate a financial hardship that will prevent you from being able to future mortgage payments.
Effect of a short sale on your credit record: Severe but better than the foreclosure.

BANKRUPTCY
A homeowner filing a Chapter 7 Bankruptcy will forfeit property and eliminate any potential deficiency. Chapter 13 Bankruptcy provides the homeowner the ability to cure the default over an extended period of time (30-60 months) while maintaining the current monthly payment. However, this does not change the terms of the mortgage, and since the homeowner cannot afford the current regular monthly payment, they may not be able to afford the current payment plus the delinquency amount.
Effect of a bankruptcy on your credit record: Severe.

TAKE TAX CREDITS FOR GOING "GREEN"

Federal tax credits are available for homeowners who make energy-efficient home improvements through 2010, courtesy of the Emergency Economic Stabilization Act of 2008 and the stimulus bill signed by President Barack Obama.The bill extends tax credits for those who install qualifying renewable-energy technologies, such as geothermal and solar-energy systems, through 2016. Here are some examples:

Federal Tax Credits for Energy Efficiency includes:

Tax credits are available at 30% of the cost, up to $1,500, in 2009 & 2010
(for existing homes only) for:
Windows and Doors - Insulation - Roofs (Metal and Asphalt)·
HVAC - Water Heaters (non-solar) - Biomass Stoves

Tax credits are available at 30% of the cost, with no upper limit through 2016
(for existing homes & new construction) for: ·
Geothermal Heat Pumps - Solar Panels - Solar Water Heaters·
Small Wind Energy Systems - Fuel Cells

Additionally, local Oakland County utility companies offer Utility Rebate Programs.
For instance, Consumers Energy - Residential Energy Efficiency
Program offers the following:
Central AC: $100-$350
Pipe Wrap: $4 per five feet
Heat Pumps: $100-$350
Setback Thermostat: $20
Furnace: $200-$350
Refrigerator Recycling:
$30Boiler: $350
Water Heater: $35
Tankless Water Heater: $150

Visit the following website for information about your utility company:
http://www.dsireusa.org/incentives/index.cfm?re=1&ee=1&spv=0&st=0&srp=1&state=MI
For detailed information, visit the following link:
http://www.energystar.gov/

FRANKLIN BARN DANCE

The Committee to Preserve and restore Franklin's Kreger Farm Buildings will host the first event to be held at these community facilities at 6 p.m. Saturday, Oct. 10.

The Barn Dance and Dinner, a fund-raising event, will include great food, dancing instruction and a cash bar. Tickets are $50 each, with $37 being tax-deductible. Only 200 tickets will be sold. so organize a group night or make it a date night and prepare to dance your boots off. “Creative Cowboy” attire is suggested. Adults only please.

“This is a great opportunity to help celebrate the progress to date in the moving, preservation and restoration of the historic Kreger Farm buildings and is an example of the type of activity that will be possible once the buildings are fully restored,” said Lew Eads, Franklin's Cable Board representative and member of the Kreger Farm Team.

Tickets are available at the Franklin Village Office, 32325 Franklin Rd.; the Franklin Village Boutique, 32749 Franklin Rd.; Yanke Designs 32611 Franklin Rd.; or by calling John Pulker, (248) 538-0183.

BIRMINGHAM RESTAURANTS -Outdoor dining platforms raise concerns

Birmingham restaurant owners say the outdoor dining platforms have brought a big boost to their sales.

“I like them,” said Matt Knio, owner of Cannella Patisserie and Creperie at 300 Hamilton Row. “It's been very good to the business. In my opinion, if it doesn't interrupt with the safety of the people, keep going and add some more.”

Others are a bit more cautious.

“We're continuously removing parking meters, which I'd say is the number one complaint when people come to Birmingham ... they like the meters,” said Mayor Pro Tem Rackeline Hoff, who opposes the platforms for safety reasons and loss of parking spaces.

The platforms are part of a recent effort on the city's part to encourage outdoor dining and bring vitality to the downtown streetscape. Few people would argue with their success to this point. Nor have there been any reported mishaps involving motorists and outdoor diners.

City Planner Jill Robinson said a total of eight platforms have been approved since the first one went up in 2008. The restaurants can keep the platforms up from May through October. Along with paying for the platforms and having them installed, the owners pay the city for use of the right-of-way and for the use of the metered space as if it were always in operation — or approximately $1,860 per season — plus the cost of removing the meter. Each platform extends partially from the sidewalk into the street and take up a single metered parking space. There are 1,312 metered spaces in the downtown business district.

“The platforms can go anywhere where a restaurant is a permitted use,” Robinson said. “However, there are specific requirements and they need to be reviewed by the Planning Board and the Advisory Parking Committee prior to installation.”

Initially, the commission indicated it would only approve the platforms if there wasn't enough space on the sidewalk to set up outdoor dining. It now appears the city will allow restaurants to provide outdoor dining on the sidewalks — plus a platform.

“I strongly disagree with that,” Commissioner George Dilgard said. “We turned down Toast — they initially wanted both outdoor dining and the platform — and the commission said they had enough room for dining on the sidewalk and disallowed the platform. I'm sure it's only a matter of time before they come back.”

Dilgard raised the issue Monday during appointments to the Advisory Parking Committee, one of several boards responsible for reviewing the platform requests.

BLOOMFIELD-FLINT-BRIGHTON FALL COLOR DRIVING TOUR

Cider, Color and Wide Open Spaces

Catch the last spectacular show of fall color in East Central and Southeastern Michigan in October. There is plenty of see and do with the entire family in this loop of 150 miles from Bloomfield Hills, to Flint and back down to the Brighton area. This driving tour includes many interesting stops along the way - parks, cider mills, museums . . . for more information on the specific stops along the way, visit: http://www.michigan.org/Places-to-Go/Tours-and-Trails/Fall-Color-Tours/Default.aspx?m=9;1

3 Tips for Improving the Feel of Your House

Appeal to All Buyers

Of the 300 million Americans, about 60 million have allergies or asthma. Buyers with these problems may not care about staging, size or how spacious the home is, but how it makes them feel!

1. Check for mold. Mold is one of the most common indoor allergens. “Look for cracks in foundation. Check to see if the windows are completely sealed or if moisture is getting in—too much moisture can lead to a mold problem,”
2. Clean with hydrogen peroxide or sodium perborate not bleach. Bleach is a common cleaning chemical but it has a very strong odor and, people with highly sensitive allergies to bleach
3. Opt for area rugs instead of wall-to-wall carpeting. The U.S. Green Building Council provides information on “going green,” the Council says carpeting can be particularly troublesome because the padding underneath is very difficult to clean or remove for drying. Carpets also harbor dirt, organic detritus, and moisture and can become a significant source for mold and mildew.