2011 FIRE & ICE FESTIVAL

Bundle up the family and head to

Downtown Rochester 

January 28 (6-9 p.m.)

29th (10 a.m - 9 p.m.)

30th (11 a.m. - 4 p.m.)

Tubing Hill, Ice Skating Rink, Snow Play Area, Dog Sledding,

Tastefest & Beer Tent, Fireworks . . .

Fire and Ice Festival

Plymouth Ice Festival

January 21-23, 2011

29th Annual "will feature over 100 ice sculptures, live music and entertainment, interactive family shows, winter-themed tasty treats and a variety of additional events to interest all ages. Several new event highlights include the Dueling Chainsaws Speed Carving Show, Forest Avenue Scavenger Hunt, Penniman Ave., Petting Farm & Pony Rides.

 

TIME TO INVEST IN SOUTHEARN MICHIGAN!

The Michigan economy is not out of the water just yet, but there are some very encouraging signs indicating that things may be turning the corner.

1. Detroit's Automakers Are All Producing Profits It is no secret that Michigan's economy is heavily tied to the automotive industry. In recent years, the automakers have struggled tremendously, but the restructuring is starting to take hold. In the 2nd quarter of 2010 all three of Detroit's automakers were in the black posting the following profits: Ford - $2.6 Billion - General Motors $1.3 Billion -Chrysler - $183 Million

This is welcomed news for the Michigan job market as these profits have already resulted in renewed investments into Michigan's economy. These investments are expected to create approximately 63,000 jobs.

2. The State of Michigan Has Provided a 42% Tax Credit to Film Makers In April 2008, the state of Michigan announced a 42% tax credit for film makers that produce films using Michigan workers. This has spurred a flurry of film making activity. Before the incentive, Michigan averaged five film productions annually. In 2008 -31 films were produced, and in 2009- 35 films were produced. This trend is expected to continue with the announcement of 3 major studios to be built in Pontiac, Detroit, and Grand Rapids. These studios alone are expected to bring 6500 permanent jobs to Michigan.

3. Investment in Renewable Wind Energy Because of Michigan's vast coastlines along the great lakes, the wind potential is phenomenal. Michigan has enacted the Renewable Portfolio Standard which requires 10% of the state's energy demand to come from renewable resources by 2015. This standard is sure to drive investment into renewable energy resources in Michigan.

2011 REAL ESTATE PREDICTIONS

Freddie Mac analysts point to five features that they believe will likely characterize the 2011 housing and mortgage markets:


1. Low mortgage rates. With Fed observers expecting the central bank to keep the federal funds rate at its current target range of 0 percent to 0.25 percent for most (or all) of 2011, relatively low mortgage rates will be a feature of the 2011 mortgage market.

2. Prices have hit bottom. House prices are likely to begin a gradual, but sustained recovery in the second half of 2011.

3. Housing will remain affordable. With affordability high, many first-time buyers will be attracted to the housing market in the New Year, likely translating into more home sales in 2011 than in 2010.

4. Refinances will dwindle. Many eligible borrowers have already refinanced and the federal Making Home Affordable refinance program is expiring on June 30. While fixed-rate loans are likely to remain low, they will move up gradually, making it even less likely that refinances will be attractive to most home owners.

5. Delinquency rates will decline. Based on the last several business cycles, the share of loans that are 90 or more days delinquent or in foreclosure proceedings - known as the "seriously delinquent rate" - generally crests within a year of the start of the recovery in payroll employment, and this economic recovery appears to fit within that pattern. Payrolls began to rise last January, and by the spring the seriously delinquent rate had begun to fall.

Source: Freddie Mac (12/09/2010)

WHAT IS THE "CONSUMER CONFIDENCE INDEX"?

The Consumer Confidence Index (CCI) is a monthly release from the Conference Board, a non-profit business group that is highly regarded by investors and the Federal Reserve. CCI is a unique indicator, formed from survey results of more than 5,000 households and designed to gauge the relative financial health, spending power and confidence of the average consumer.

There are three separate headline figures: one for how people feel currently (Index of Consumer Sentiment), one for how they feel the general economy is going (Current Economic Conditions), and the third for how they see things in six months' time (Index of Consumer Expectations).

HOMEOWNERS LOWER THEIR DEBT!

 In the 1/3 quarter of  2010, 33 % of homeowners who refinanced their first-lien home mortgage lowered their principal balance by paying-in additional money at the closing table. This is the second highest "cash-in" share since Freddie Mac began keeping records on refinancing patterns in 1985.

MAGIC OF BIRMINGHAM-DECEMBER 2010

Saturday, December 11 & 18 from

11 am - 5 pm

Enjoy the sights and sounds of Birmingham for the holidays! In addition to shopping, you'll enjoy the Santa House, free carriage rides, gifts for random shoppers, carrolers from local schools and more!

CONSUMER CONFIDENCE AT 6 MONTH HIGH!

In November, University of Michigan consumer confidence rose back to the highest level since June supported by gains in both economic conditions (79.7 from 76.6) and the economic outlook (62.7 from 61.9). According to the first estimate, Michigan consumer confidence rose from 67.7 to 69.3, slightly above the consensus estimate of 69.0. The one-year inflation outlook rose to 3.0%, the highest level since May 2010. The recent positive economic news might have brightened consumer's sentiment, although labor market conditions remain very fragile.

HAPPY HOLIDAY SEASON 2010!

The Gift of Love.

The Gift of Peace.

The Gift of Happiness.

May all these gifts be yours during this holiday season and throughout the New Year!

Lani R. Sussman

NOTEWORTHY SOUTHEASTERN MICHIGAN CHARITIES

Benefits of Charity

While your primary motivation to donate to charity in time, money, or goods may be because of the deep sense of satisfaction you receive, you should know that great tax benefits exist for those who give. Here are some of the benefits you should know about.


1. A gift to a qualified charitable organization may entitle you to a charitable contribution deduction against your income tax if you itemize

2. A contribution to a qualified charity is deductible in the year in which it is paid.

3. There are limits to how much you can deduct, but they

4. Rules exist for non-cash

SHARING & CARING

This time of year, many of us are able to sit around an abundant Thanksgiving table counting our blessings, indulge in wonderful holiday gifts or travel to see family and friends. Many are not so fortunate. Included are a few of the noteworthy and deserving organizations in the greater southeastern Michigan area that strive to help out those in need. If you can - give of yourself, your time or money, or lend a helping hand to someone in need.



The Big, Bright Light - December 2010

DOWNTOWN ROCHESTER

Nov. 29 – Jan. 2, 2011, 6:00 pm – Midnight

The buildings in Downtown Rochester will be covered in more than 1.5 million points of glimmering holiday light which will be lit nightly. Entering its 5th year, the buildings of Main Street will be covered in big, bright lights beginning at the South Bridge, but this year, they will extend all the way north to Romeo Road!

WAYNE COUNTY LIGHTFEST

With 4 1/2 miles of giant animated displays and nearly a million lights along Hines Drive, it's the Midwest's largest Holiday Light Show. Drive through
7 p.m. to 10 p.m.

Nov 18 - Dec 31, 2010
Wayne Country Lightfest Website

AMERICA'S THANKSGIVING PARADE

The theme for the 84th America's Thanksgiving Parade® is Celebrate the Spirit. The theme chosen by The Parade Company, allows for everyone to celebrate in their own way. Celebrate time together with friends and family, celebrating the spirit of the holidays, and the spirit of community pride.

One of the country's oldest and most celebrated Parades, will step off at Begins 9:20 a.m. on Woodward Avenue and Mack and end at Woodward Avenue and Congress in downtown Detroit on Thursday, November 25, 2010.

America's Thanksgiving Parade Website

FORECLOSURES IN MICHIGAN

Michigan is among the hardest hit foreclosure states in the Nation. In August 2010, the state’s foreclosure rate increased 128% over August 2009 and it remains among the top five states in the Nation in foreclosure totals. In July 2010 alone, 1 in 241 housing units in Michigan received a foreclosure filing.

What is a REO?

Foreclosure is a legal process by which a defaulting borrower is deprived of their interest in the property. Real estate owned (or REO), on the other hand, is a real estate asset owned by the lender that is taken back during the foreclosure process. Foreclosures are legal proceedings not listed homes.

Should You Buy a Foreclosed Property Right Now?

These houses are tempting for scores of first-time homebuyers, second-home seekers and people looking to get an early jump on buying a retirement home while prices and interest rates are low. So given the pitfalls, are they crazy? The answer is no, not always.

It’s important to keep some things in mind. Think hard about the following 3 factors if you find foreclosed homes even remotely enticing.

THE LOAN: Many banks would prefer to sell to an investor who will pay cash. You may need a mortgage and your need for bank approval can delay the sales process. Lenders will usually only give you a loan on homes that are ready to be lived in. Many foreclosed homes need basic repairs such as installing toilets, sinks, and appliances.

THE INSPECTION: You’ll want to make any bid for a home contingent on a thorough inspection from someone familiar with foreclosed properties. Mold may be a concern given that many foreclosed homes have been uninhabited for months. You should arrange to have the power and water turned back on before the inspection if possible to ensure that pipes are sound and electrical is safe.

THE TITLE INSURANCE: This is a must in the event that a former owner somehow wins back rights to the foreclosed home you end up buying, and then tries to kick you out, you will need to make a title insurance claim.

Take your time. Assemble a panel of experts and watch the listings carefully. For better or for worse, foreclosed properties are going to be available for a very, very long time.

BEFORE YOU JUMP INTO THE HOT FORECLOSURE MARKET - TEST YOUR KNOWLEDGE

As a general rule, foreclosed homes sell for less than their market value. - False

If you bid on a foreclosed property at an auction, you also may be bidding on tax liens and other debt accrued by the prior home owners. - True
Home owners who always pay their mortgage on time don't need to worry about foreclosed homes in their neighborhood. - False
Home owners can sidestep foreclosure by transferring the title of their home to a foreclosure rescue company for a year or two. - False
Once home owners default on three mortgage payments, the home automatically goes into foreclosure. - False
Owners of foreclosed homes can reclaim their property - even after someone else has already bought it - by paying off the loan along with any interest, taxes, and penalties within the redemption period. - True
Lenders stand to benefit when home owners default on their mortgage. - False
http://www.realtor.org/rmoquiz2.nsf/foreclosurequiz?openform

Once a bank takes possession of a foreclosed home, the previous owner is free of all financial obligations. - False

FORECLOSURE IN THE NEWS

Reported by crainsdetroit.com, Michigan is not likely to be impacted by the issues raised with national lenders, said David Trott; president of Farmington Hills based Trott

& Trott PC involved with about 2/3rds of all Michigan foreclosure filings. At issue has been a practice by banks to use so-called “robo signing,” putting signatures on some court documents without reading them. In Michigan less than 1% of all foreclosures go through the courts, so affidavits signed without being read will not likely be an issue according to Trott. “Our process is much simpler here, and we typically don’t have affidavits,” Trott said. “I’d be surprised if this is the basis to unwind any foreclosures in Michigan.”

TOP 9 GREEN HOME IMPROVEMENTS

Take some time to get your home ready for fall now and you won’t be caught unprepared when the temperatures begin to cool. Here are the top 9 GREEN Home improvements based on cost & return on investment according to HomeGain.com
1. Plant native trees & plants
2. Replace air filters
3. Green home staging
4. Weather strip, caulk doors and windows
5. Install programmable thermostats
6. Install low flow shower heads
7. Use auto turn-off power strips
8. Install CFL or LED lights
9. Paint with low VOC paints

FUN IDEAS FOR FALL

The crisp weather of fall is almost upon us and football season is well underway. While the prospect of relaxing into a lazy Sunday schedule calls to many home owners weary from the routine of weekend lawn mowing, why not prepare some fun activities to enjoy during the upcoming cool weather.

- Get fall and winter sports equipment ready for action.

- Stocking up on crossword puzzles, compelling books and other brain-stimulating items.

- Dust off board games and plan playful activities. Set up a series of game nights to host for friends and family

- Get rid of any unnecessary summertime items and clean your home from top to bottom

- A great time to get your house ready for group gatherings and other social activities.

Make sure you have plenty of open, inviting space in which to host people so your home will accommodate any and all guests!

 

8 SMART FALL HOME MAINTENANCE TIPS

Continue to mow your lawn until the first frost. Remove the leaves when your grass has stopped growing.

Falling leaves clog your gutter. Not cleaning your gutters can lead to wet basements.
Clean your outdoor furniture. Refinish it if necessary to prevent rust. If you store it inside, allow for airflow so you avoid moisture damage.
Schedule any indoor painting you need done. The weather is usually ideal for leaving windows open for ventilation.
Check your insulation in your attic, basement and other areas. If you find any dirty spots, it often indicate air leaks into or out of your home. If you find any holes, seal them with caulk.
Exterior lighting is very important. With dark days ahead, check all your bulbs and consider using timers to turn lights on at dusk and off in the morning.
Properly discard or store paint, caulk or adhesives in a heated area to prevent them from freezing. Check with your local hazardous material recycler for instructions on discarding products that could be toxic. Drain all gasoline-powered tools.
Clean and/or repair your chimney. Before you light the first log, get your chimney cleaned and make any necessary repairs.

GET INDOOR SPACES READY FOR FALL

Maintain your pipes. Wrap your pipes with heating tape every winter. Keep your house warm - at least 65 degrees.
Check your heating systems. Be sure to maintain your furnace, boiler, water heater, and wood-burning stove and have your heating system serviced every year. Change your heating and air conditioning filters regularly.
Know your plumbing. Learn where and how to shut the water off. If your pipes freeze, the quicker the water is shut off, the less chance pipes will bust.

Clean and vacuum dust from vents, baseboard heaters and cold-air returns. Dust build-up in ducts is a major cause of indoor pollutants and can increase incidences of cold weather illnesses.


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GREEN BUILDING TAKES OFF IN REAL ESTATE SLUMP

Green building remains the bright spot in an otherwise dull U.S. real estate market as companies and homeowners look to lower utility bills according to an article in the USA TODAY. In fact, green building has increased from 2% in 2005 to nearly one-third now.


The Washington based USGBC (U.S. Green Building Council) LEED (Leadership in Energy & Environmental Design) program is set up like an arbiter of a sort of building Olympics. Projects earn points for various features. Use renewable cork flooring, for instance, get a point in the materials and resources category. Use paint that doesn't give off toxic substances — score a point for indoor environmental quality. There are categories for water efficiency and energy. Pay the fees, rack up enough points, and win a basic, silver, gold or platinum rating. Around 155,000 designers, contractors, consultants and others have studied up online using courses, and then passed the test to earn the designation LEED Accredited Professional — or "green associate." Employ a LEED AP on a project and you get a point for that.

The number of homes receiving LEED approval tripled last year, from 1,151 in 2008 to more than 3,000 in 2009. Homes, like office buildings, get points for water conservation, energy efficiency, durability, location, air quality and other factors.

FALL COLOR TOUR

Catch the last spectacular show of fall color in East Central and Southeastern Michigan in October. A loop of 150 miles from Bloomfield Hills, to Flint and back down to the Brighton area.
Fall Tour Website