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!

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.

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

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.

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.

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

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!

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.

4 Steps To Weather a Power Outage

One of the worst feelings while sitting snug in your home during a winter storm is the sound - you know it - how quiet it gets all of a sudden - your power is out! Here's some things to do before that happens!
Step 1
Heating your home, or at least parts of it will be of primary concern in a winter blackout. Fireplace or wood-burning stoves are the most common solutions. Keep a ready supply of firewood for emergencies.
Step 2
Keep a supply of food that can easily be heated over a fire, along with a manual can opener. Have enough drinking water stored for several days at least.
Step 3
Check your supply of batteries for flashlights and radios, and be sure they're fresh.
Step 4
Consider a generator if you live in an area where blackouts are common.

While the Power is Out
Step 1
Wear several layers of loose lightweight clothing as opposed to one heavy layer. Wear a hat, as most heat is lost through the head, and mittens to keep your hands warm.
Step 2
Plan to live in just one or two rooms of your house, closest to the heat source. Try to prevent heat from escaping to other parts of the house by closing doors or hanging blankets in doorways to keep the heat contained.
Step 3
Keep pipes from freezing by turning faucets on just enough so that they drip. Know where the emergency shut off valve is in case of a broken pipe.
Step 4
Go to a hotel if there are very young or elderly people as they tend to lose heat quickly

Preventing Ice Dams

Ice Dams

In the winter, look for icicles hanging down or ice in the gutters indicating the presence of an ice dam. The illustration at right from henryshousework.com shows how an ice dam can create a leak. They are caused by a lack of or too little insulation and/or ventilation in the attic. Warm air escapes into the attic and rises to the peak where it melts the snow on the uppermost part of the roof. The melted snow runs down the roof toward the gutter and refreezes as it comes into contact with the cooler roof near the gutters. By increasing the insulation in the attic and/or increasing the ventilation you can prevent warm air in your house from escaping into the attic. The snow on the roof will stay nice and cold and you will be a lot more comfy.