11.30.2009

9 Do's & Don’ts of Holiday Home Staging

You want to show off your house, not the holiday decorations. Some decorations, done tastefully, will convince buyers that they can make this house, their “home for the holidays”.

No Huge Inflatable Yard Decorations - Curb appeal is as important in winter as the rest of the year. Forego this year’s neighborhood lighting contest. Keep the lighting to a minimum, accent specimen trees or outline the architecture.

No Scents - Holiday aromas-baked goods and live greens-enhance seasonal decor, but overly strong odors from air fresheners and candles may send buyers running.

No Oversized and Over-Decorated Trees – If you have soaring ceilings show them off with a taller tree; just be cautious of the amount of floor space that the tree occupies. You are selling square footage, not holiday décor. Pick colors to compliment your décor. But, too much red and green can backfire. A neutral palette of fresh greens, elegant silvers and gold’s, and classic white will compliment almost any décor.

No Window Decals – Or wreaths, garlands, or other decorations that will restrict light flow or the view.

Don’t Hide the Positives - Holiday villages consumes space, too much garland on the staircase railings & fireplace mantle hide sellable details, to many holiday accents on the tables equals visual clutter.







Don’t Be Charlie Brown – If you are going to decorate for the holidays, put some thought into it. Make sure the scale is correct for the space; the decorations don’t look like an afterthought, or childish.

Do Keep Private Spaces Private – Confine the holiday decor to public spaces, not the bedrooms. If you do extend your holiday décor to the bedrooms, keep it simple & small.

Do Invite Buyers In - Keep the heat up; invite buyers in from the cold to a warm & cozy home. Consider lighting gas fireplaces if you will be home right after a showing.

Play Soothing Music - Most people get their fill of jingles and carols, so if you play music for showings, pick a non-seasonal favorite that appeal year-round.

Many people treat holidays as a serious time of religious observance. Keep in mind that not everyone practices the same religion as you. The more decorating you do, whether the decorating has any religious undertones or not, the greater chance you have of potentially making a buyer feel less welcome. If you want to set out your nativity sets or menorah, consider putting them away during showings or open houses. Afterwards, you can display them again for your family and friends to admire and enjoy.
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11.24.2009

4 Real Estate Ownership Myths

Owning a Home is a Solid Investment”

The recent challenging market has proven the problem with this statement. You can lose money investing in property whether it is for your personal residence or investment property.

Real estate ownership is can be considered “good debt” especially if you have paid down your mortgage and despite the declining market, have equity in your property. But, as many people have learned when selling their homes, the loss in market value of a home can reduce your “investment” significantly. Conversely, during an “up” market many see large increases in value.

For most people, a real estate investment is considered a “long term” investment even if they don’t intend on living in a home for an extended period.

“Distressed Properties Mean Big Profit”

You may buy at a great price, but after adding in the cost of buying, selling, property taxes, and renovation costs (especially the undiscovered problems that crop up) your return on investment is considerably less than you had anticipated.

Added to these concerns, living through a “renovation” requires a high tolerance for chaos, stress, and unusable areas of the house. Or if it is empty during renovation, you incur the cost of the mortgage, taxes, utilities, and landscape chores etc. subtracting from your rate of return.

“You Make All the Decisions”

Of course, you decide when to buy, where and how to pay. You decide how to decorate, upgrade, and landscape. What you have no control over is the condition of the neighborhood or how it changes. Foreclosures, zoning changes, governmental regulations, association rules, negligent neighbors . . . all effect the value of your home.

“You Can Sell When You Choose”

You are personally invested in your property and it is not an easily liquidated interest. You could be stuck in a bad situation longer than you are comfortable with if you find your neighbor is a drug dealer, has the dogs from hell, fixes cars in their spare time, parties heavily on the weekends or just hates you.

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11.23.2009

The Pros and Cons of Paying Cash for a House

If you have the cash on hand to purchase a house, should you?

PROS

No Credit History Required – As long as you have the cash in the bank, no one will question your ability to pay.

Risk Free Savings – If mortgage interest rates are higher than what you get on your investments, you gain by paying cash.

It All Belongs to You - You own the house free and clear. You have also freed up the money you would be paying on mortgage or rent payments to invest in other places.

Negotiating Power – With cash, there is no contingency on getting a loan, so closing can occur in a shorter period of time.

Investment Property – Second homes are considered investment properties and carry with them higher interest rates and penalties. If you are buying a home to fix and sell, it often makes sense to pay cash.

CONS

Less Liquidity – If you have all your liquid assets tied up into a house purchase, its harder to free that money up in the event you need it. If you need to get a mortgage at a later date it is considered a refinance and will carry a higher interest rate.

Tax Advantage – You are not able to take advantage of the deductible on your income taxes. Depending on your tax bracket, this could be a substantial amount.

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11.22.2009

Magic of Birmingham - Holiday Shopping

Enjoy the sights and sounds of Birmingham for the holidays! Stores are open late, plus enjoy Santa House, free carriage rides, carrolers from local schools and more!

Random shoppers will receive FREE GIFTS from Birmingham stores, right on the street.Each Thursday night, one lucky shopper receives a GRAND gift!
On December 10: A jewelry item, courtesy of Astrein's Creative Jewelers. http://www.astreins.com/

On December 17: Two airline tickets good for domestic travel anywhere in the continental United States courtesy of Departure Travel Management. http://www.dtmdeparturetravel.com/

Birmingham broadcast partner WCSX 94.7 and their sponsors will host a warming tent next to Santa House December 10 and 17th, with carolers, family friendly activities from 6-8 p.m. They will provide other exciting enhancements to the event, which will be announced soon.

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Birmingham Holiday Lighting

Where: Steps of City Hall
When: Wednesday, November 25, 6p.m.

Contact: Birmingham Principal Shopping District at 248-530-1200Jump into the Holiday spirit with a night that brings the festive lighting of the winter season and the opening of Santa House! Help Santa and Birmingham Mayor Rackeline Hoff light up the town for the holidays. On-air personality Jim Harper will emcee again this year!

Enjoy live caroling from Greenfield Elementary Honors Choir, festive music from the Birmingham Brass Band, free hot cocoa compliments of Starbucks, and enough holiday spirit to last through the entire season!

Plus: Get a Magic of Birmingham magical preview!
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11.21.2009

Winter Family Fun Activities in Oakland County

Skiing, sledding, hiking or just walking in the dog can be an adventure in Oakland County's many parks. So get outside, enjoy Michgan's winter, and get some exercise for yourself , family & friends.


Click here for more information about the parks that are open, what activities are available & to check conditions of the park when you are planning on going.



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11.20.2009

Real Benefits of Giving to Others

4 Benefits of Giving

Children and adults alike can also benefit from the act of giving to charity.

Allan Luks, author of The Healing Power of Doing Good, describes many scientifically documented accounts of people gaining physical, mental and emotional benefits from doing good. For instance, holding an abandoned baby may help get rid of your backache, he says. Luks even describes a “helper’s high” that is similar to the high we feel after exercising. And, Luks maintains that volunteering provides:

1. A heightened sense of well-being
2. Relief from insomnia
3. A stronger immune system
4. Speedier recovery from surgery

Feel good - volunteer!

What organizations do you volunteer for?

4 Charities That Could Use Your Help

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9 More Charities That Could Use Your Help

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11.19.2009

4 Oakland County MI Charities That Need Your Help

Most of us will have the opportunity to sit around the table this Thanksgiving with family & friends to enjoy their company, abundant good food & perhaps recount our blessings. Many are not so fortunate.

During the holiday season many of us look for ways to help others, ways we can give back to our neighbors, the community & families in need during this joyous season.

Below you will find the 1st of several posts with organizations that could use your help. If you can, give of yourself, your time or money & lend a helping hand to someone in need.




Common Ground: Providing a lifeline for individuals and families in crisis, victims of crime, persons with mental illness, people trying to cope with critical situations and runaway and homeless youths. The core purpose is to empower people to reach their goals. Helping people in need for more than 35 years, Common Ground serves more than 40,000 individuals per year. The majority of services are free of charge and 89 percent of every dollar received goes to direct service. http://www.commongroundhelps.org/

Gleaners Community Food Bank of Southeastern Michigan: The dream was that no one should go hungry while food was going to waste. The idea was to create a distribution network that would provide local non-profit agencies with a low cost, reliable source of food for hungry people. Gleaners is a vital link between available food and those who need it most. Gleaners collects, warehouses, repacks and distributes many millions of pounds of food for over 400 local partners. http://www.gcfb.org/

HAVEN: The only domestic violence and sexual assault center in Oakland County. The safe place when home is no longer safe, the shelter in the storm of a crisis, the source of healing, and the guide to a violence-free life. HAVEN’s mission is to eliminate domestic violence and sexual assault through treatment and prevention services across Oakland County and surrounding communities. http://www.haven-oakland.org/

Capuchin Soup Kitchen: Serving the poor who suffer from the lack of basic human needs: material needs, such as food, clothing, and household necessities; psychological needs, such as motivation, self-esteem, and rehabilitation; and social needs, such as support systems and meaningful relationships. http://www.cskdetroit.org/
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9 More Charities Serving Oakland County MI That Need Your Help!


Grace Centers of Hope Grace Is Oakland County’s oldest and largest homeless shelter providing hope and help since 1942. Today, Grace Centers of Hope is considered one of the leading faith-based organizations in Southeastern Michigan daily confronting issues of homelessness, addiction, poverty and spiritual emptiness. On any given night, Grace Centers of Hope will accommodate between 150-200 men, women and children. Each year we serve over 127,000 meals and provide over 55,000 nights of stay. http://www.gracecentersofhope.org/

Habitat for Humanity Detroit Habitat for Humanity Detroit, in partnership with God and families in need of adequate housing, brings together people from all walks of life to revitalize Detroit neighborhoods through the construction of decent affordable homes. Since 1986, Habitat for Humanity Detroit has helped to house over 220 families in the city of Detroit. http://www.habitatdetroit.org/

Leader Dogs for the Blind Founded by three Detroit area Lions Clubs members in 1939, Leader Dogs for the Blind provides dog guides to people who are blind and visually impaired to enhance their mobility, independence and quality of life. Each year, over 270 students attend our 26-day residential training program to be paired with a dog guide. This is a life-changing event that opens the doors to independence, safety and self-worth for many of our students. Leader Dog is recognized as a “Best In America” Charity by the Independent Charities of America (ICA). http://www.leaderdog.org/

Make-A-Wish Foundation of Michigan Since 1984, the Make-A-Wish Foundation of Michigan has granted wishes to over 5,600 special children in Michigan. Of each dollar spent in FY 2007, more than 80 cents went directly to granting wishes for children with life-threatening medical conditions. Funding comes from individual contributors, special events, corporate donations and sponsorships, foundation grants, workplace giving programs and planned gifts. These wishes would not be realized without the dedication and support of the volunteers, donors, and staff. www.wishmich.org/

Salvation Army The Salvation Army red kettle’s impact extends far beyond the holiday season-changing lives, one at a time, every day, all year long. The scope of The Salvation Army’s influence is vast, touching nearly every segment of society and providing help, hope, and healing for those who come within its sphere. It is at work in more than 113 countries around the world. And although programs vary from country to country and community to community to help people most effectively http://www.usc.salvationarmy.org/usc/www_usc_emi.nsf

Volunteers of America One night in a shelter can provide comfort and security, but one night won't end a man's homelessness. Solving the problem that makes him homeless will. Volunteers of America helps people change their lives for the better. Volunteers of America is unique among humanitarian organizations in that we provide both immediate assistance and long-term solutions that benefit individuals and families. They provide wide range of community-based programs and services for people of all ages. http://www.voa.org/

Yad Ezra Yad Ezra (translated from Hebrew it means "helping hand") provides free kosher food, toiletries and household cleaning items to low-income Jewish families in Southeast Michigan. During 1990, Yad Ezra served an average of 250 families every month. Current statistics indicate that we provide an average of 1,600 impoverished families (almost 3,300 individuals) with food, health care items and household goods every month. Yad Ezra will distribute 800,000 pounds of food, toiletries and household goods this year. www.yadezra.org/

Toys for Tots The objectives of Toys for Tots are to help less fortunate children throughout the United States experience the joy of Christmas; to play an active role in the development of one of our nation’s most valuable resources – our children; to unite all members of local communities in a common cause for three months each year during the annual toy collection and distribution campaign; and to contribute to better communities in the future. http://toysfortots.org/

Michigan Human Society Their Mission: To end companion animal homelessness, to provide the highest quality service and compassion to the animals entrusted to their care, and to be a leader in promoting humane values. They receive no government funding and is not a United Way agency & depends on the generosity of individual and corporate supporters to fund their programs and services. http://www.michiganhumane.org/site/PageServer

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11.18.2009

Royal Oak Holiday Magic Parade

This 8th Annual Parade features musical acts, performances, floats and more from over 55 parade units.

The parade route starts at Washington and Lincoln and heads north on Washington to Fourth, where it then heads west to Lafayette.

New this year is the Santa Scamper before the parade, A Fun Run, through the parade route for kids and families at 9:15am.

After the parade, visits with Santa are from 11am - 1pm at Stagecrafters.

Also new this year, bring a toy to the parade to help less fortunate families in the metro Detroit area. Marines will walk in the parade and collect them from the crowd for Toys for Tots.Parking will be free downtown from 10am - 2pm for guests to the parade!

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11.17.2009

The Good, The Bad & The Ugly for Detroit Metro Area

The GOOD
Pontiac’s Silverdome has been sold at auction. Or at least, the city of Pontiac accepted a bid from a Toronto based real estate company to buy it & the surrounding 127 acres. Plans are to bring a professional men’s & women’s soccer league to Detroit. But an update - apparently the deal fell through - am hopeful someone else picks it up!

MLS is a 15-team league that will be expanding to 18 teams by 2011.

We do love our sports teams here in Detroit – even our Lions!

The BAD
GM may move 1,500 jobs from Renaissance Center – will downtown be a ghost town?
2,500 could stay at RenCen, 1,500 may relocate. Some people will move from the Renaissance Center to the Warren Tech Center, but the Renaissance Center will still maintain a very sizable presence and this will be their headquarters, GM CEO Fritz Henderson indicated. Sizable, but that’s still 1,500 job moving out of the city.

The UGLY
Detroit Public Schools – no one with school age children will move back to the city as long as the schools are in such deplorable condition. Thriving communities need families with kids – no one is going to move in if they thinks their kids can’t get a decent education.

A Little of the BEST

The Heidelberg Project is art, energy, and community. It’s an open-air art environment in the heart of an urban community on Detroit’s East Side. It began in 1986 as a way for local resident to put pride back in their neighborhood. Armed with a paintbrush, a broom, and neighborhood children, the founder began by cleaning up vacant lots on Heidelberg and Elba Streets. From the refuse they collected, Guyton began to transform the street into a massive art environment. Vacant lots literally became “lots of art” and abandoned houses became “gigantic art sculptures.” Guyton not only transformed vacant houses and lots, he integrated the street, sidewalks, and trees into his mammoth installation and called his work, "The Heidelberg Project", after it's location on
Heidelberg Street.

Today the Heidelberg Project is recognized as one of the most influential art environments in the world.







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11.16.2009

CLOSING COSTS – WHO PAYS FOR WHAT?


The various fees associated with buying or selling a home are called closing costs. Buyers and sellers both pay closing costs but who pays what costs varies from area to area.

Buyers typically pay the following closing costs:

1. Fees charged for obtaining a mortgage
2. Inspection fees
3. Homeowner's insurance (must be prepaid for one year at closing)
4. Doc stamps on the mortgage
5. Title insurance and escrow fees (depending on the location)
6. Attorney's fees (where attorneys are involved in the transaction).

Sellers' closing costs typically include:

1. Loan payoff fees
2. Real estate brokerage fee for service
3. Title insurance
4. Transfer taxes (doc stamps on the deed)
5. Escrow fees,
6. Attorney's fees where applicable



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11.07.2009

4 Big Seller Pricing Mistakes


Its critical in todays market that with the amount of inventory, the credit crunch & a large number of distressed properties lowering average market price property that a house is properly priced.

Overpricing means your property stays on the market for months. With declining values, the longer it takes to sell, the less your house is worth. Don’t make the following mistakes!

1. Using the list prices of other properties

The correct list price should be based on what has sold in your neighborhood. After all, buyers will be looking at comparable solds to make an offer. If you want to receive an offer, price your property on what has sold. When you receive an offer, it must appraise for the agreed upon selling price. Appraisals are based on the last 3 months of sales – private owned, short sale & foreclosure. The buyer’s mortgage company will only loan the amount of the appraisal. Often times, the longer the house is on the market, the lower the appraisal.

2. Pricing based on what was paid for the property
What you paid for the property has no bearing on what a buyer is willing to pay. Pricing to at least “break even” is a common seller hope. Agents & sellers do not determine what a property will sell for, the market does.
3. Overestimating the value of home improvements & remodeling
In today’s market, most improvements make your home more appealing to potential buyers, but don’t usually add value. Some improvements are suited to the seller’s taste but don’t appeal to the buyer. Many buyers are looking for move-in ready homes with updated kitchens & baths but may not like light or dark cabinetry, slate or limestone, contemporary or traditional - paint & carpet are the limits of their budgets. Low cost changes such as neutral paint, tidy landscaping, clean & uncluttered appeals to buyers.
4. “Testing the Market”
Listing at a higher price for a few weeks to see what response you get is an enormous error. The 1st several weeks of a listing is the time your property will get the most attention from Real Estate agents & buyers. You will get more showings & more internet interest. Buyers waiting for new properties to come on the market will dismiss your house if they feel it is overpriced for the market or out of the price range comparable homes are in.

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11.06.2009

Selling a Home? - 4 Things That Really Turn Buyers Off


I just returned from showing 8 houses to a new buyer. It was more of an exploration for the buyer to see what she liked & didn't like, but you never know if a buyer will see the "one" on the first time out. Now here's the thing, she's not real fussy, she is willing to do some things to make it her own (carpet, paint, countertops) & very polite. None of the homeowners were present, but I wouldn't need to worry that she would make some comment that would offend the homeowner.


But . . . here are some things she definitely did not like & colored her whole feel of the home. Like most buyers she needs that intangible thing - "the feel of the home" - to make a commitment to turn that "feel" into their own home.


Here are some of the things she observed today.


1. Smoke Smell - it's that smell that hits you the minute you walk in. "Someone smokes here - this won't work". When there is a smoker in the house, the walls start to build up a nicotine residue (yellowing), the carpets & window treatments become saturated, & if there are full ashtrays - it appears dirty. Sellers should, even before the first showing, stop smoking in the house, clean the carpet & window treatments & wash the walls & ceiling. Otherwise, many buyers won't even come in!
2. Bugs, Spider Webs & Pet Hair - the presence of dead bugs & spider webs in the corners looks like the home is neglected. The next question is, "what else is neglected?"
3. Clutter - overflowing closets, countertops, tables, unmade beds, personal pictures everywhere, and toys in every room & on every surface. . . it just looks like too much work to even begin to image where the buyers things would fit in. Buying a home is a very emotional experience. Many buyers, women especially, lie in bed & try to image where they would place the furniture if they bought your home. A home cluttered with your possessions makes that impossible.
4. Vibrant Colors - color is a very personal choice, it sets the mood & your mood may not match the buyers. Neutrals make it easy for buyers to image their furnishings in the home.

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11.05.2009

Breaking News! Waiting Only for President's Signature on Homebuyer Tax Credit!


Please see below...this is an excerpt from a CNN article and some of the details. The Tax Credit has passed the Senate and the House! It is now going to the President for his signature.


Tax break for buying a home
The legislation also would extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.


The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.


The credit would be available only for the purchase of principal residences priced at $800,000 or less.


The bill would raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.


"It's gonna put people back to work, the home builders, put people in the real estate business," said Sen. Chris Dodd, D-Conn. "The kind of jobs that can make a difference."
The extension will cost $10.8 billion over 10 years, according to the Joint Committee

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The Big, Bright Light - Affordable Holiday Fun


The holiday season is fast approaching. In our challenging economy many people are looking for activities that won’t break the budget. Here is one that only costs the gas it takes to get to and from Rochester. Take the whole family and be prepared to be amazed!

The Big, Bright Light
Rochester, Michigan

The displays will be lit every evening from
November 30 - January 3, 2010 starting at 7:00 p.m.

All the buildings on Main Street from the south bridge to Romeo Rd. will be covered in over a million points of light, along with East and West Fourth Street. Also, there will be large, lighted displays on Walnut from Third to University, The Dazzling Tree of Lights at the Depot Plaza (E. University & Water), and The Snowflake Spectacular on the Western Knitting Mill on Water Street.

Absolutely Gorgeous!


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11.04.2009

7 Tips to Prepare Your Home for Winter



The fall Equinox is a good time of year to start thinking about preparing your home for winter, because as temperatures begin to dip, your home will require maintenance to keep it in tip-top shape through the winter.

Here are seven tips to help you prepare your home for winter:

Before the Freezing Weather Arrives . . .

1) Get Your Furnace Inspected
Call an HVAC professional to inspect your furnace and clean ducts.
Stock up on furnace filters and change them monthly.
Switch out your thermostat for a programmable thermostat.
2) Get the Fireplace Ready
Call a chimney sweep to remove soot and creosote.
Buy firewood & store in dry place.
3) Check the Exterior, Doors and Windows
Inspect exterior for crevice cracks & exposed entry points; seal them.
Use weather stripping around doors & caulk windows.
4) Inspect Roof, Gutters & Downspouts (see article on ice dams)

5) Service Weather-Specific Equipment
Drain gas from lawnmowers.
Service or tune-up snow blowers.
Replace worn rakes and snow shovels.
6) Prevent Plumbing Freezes
Locate your water main shut it off in case of an emergency.
Drain all garden hoses.
Insulate exposed plumbing pipes.
7) Prepare an Emergency Kit
Stock up on candles & matches for use during a power shortage.
Keep the phone numbers for your utility companies handy.
Store extra bottled water and non-perishable food supplies, blankets & a first-aid kit in a dry & easy-to-access location.


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