Friday, March 22, 2013

701 ANCHOR ST, Gladwin MI - SOLD!

Ready to Move Right Into! Cute Home on a Large Lot.
Property adjoins the Gladwin City North Park

1 Bedroom, 1 Bath, and Small Outbuilding with additional bathroom.


Attention investors and anyone downsizing! Move in ready! Cute and cozy describes this efficient 1-2 bedroom home on the outskirts of Gladwin. Quality remodel in 2009. Updates include new roof, windows, doors, vinyl siding, blown-in attic insulation, natural gas hot water heating system with pex plumbing, wood and ceramic flooring, oak kitchen cabinets, countertops and all appliances. Includes a metal shed for lawn equipment and an 11x15 outbuilding with a 1/2 bath and electric currently used for storage, that with some TLC, could be used as a guest house. Located on a large double lot, just 300 feet from North Park and the Cedar River walking trail, you'll enjoy the quiet neighborhood and the deer that stop regularly at the apple tree. 

Wednesday, March 20, 2013

Priced Out: New FHA rules may exclude some homebuyers

Fox and Friends | Fox News

Costly Changes in FHA Loans starting June 1st, 2013! BUYER BEWARE! Mortgage Insurance to be paid for the life of the loan! (Click link above to view the update by Bob Massi with Fox News)

Monday, March 18, 2013

Maintaining Comfort

iStock_000019943204XSmall(er).jpgSome people refer to the heating and air conditioning systems as the "comfort systems."  If you've ever had to be without one in the dead of winter or the heat of summer, lack of comfort may be an understatement.  Simple maintenance with a HVAC checklist is something that every homeowner can perform.


  • Change your filter every 90 days; every 30 days if you have shedding pets.
  • Maintain at least two feet of clearance around outdoor air conditioning units and heat pumps.
  • Don't allow leaves, grass clippings, lint or other things to block circulation of coils.
  • Inspect insulation on refrigerant lines leading into house monthly and replace if missing or damaged.

Annual, in spring

  •  Confirm that outdoor air conditioning units and heat pumps are on level pads.
  • Pour bleach in the air conditioner's condensation drain to clear mold and algae which can cause a clog.
  • Avoid closing more than 20% of a home's registers to keep from overworking the system.
  • Replace the battery in the home's carbon monoxide detector.

Even with the attention that perfoming this list will provide, it is recommended that you have your units serviced annually by a licensed contractor.  Furnaces can be inspected for carbon monoxide leaks and preventative maintenance may help avoid costly repairs.  Click Here if you'd like a recommendation.

Tuesday, March 12, 2013

Monday, March 11, 2013

Your Deduction...Your Choice

Taxpayers are allowed to decide each year whether to take the standard deduction or to itemize their deduction when filing their personal income tax returns.  Roughly, 75% of households with more than $75,000 income and most homeowners itemize their deductions.Itemized Deductions.png

The 2012 standard deduction, available to all taxpayers, regardless of whether they own a home, is $11,900 for married filing jointly and $5,950 for single taxpayers.

Let's look at an example of a homeowner couple with a $150,000 mortgage at 3.5%.  The standard deduction would give them $2,650 more than the total of their interest paid and property taxes of approximately $9,250.  If they were in the 28% tax bracket, the actual tax savings would be $742.00.

When mortgage rates were considerably higher, many people expected the interest and property taxes to easily exceed the standard deduction but with today's low rates, a comparison is certainly justified.

There are other things that could come into consideration like charitable contributions, medical expenses and casualty losses.  Tax professionals will compare available alternatives to find the one that will benefit the taxpayer most.

For more information, see and consult a tax advisor.






Monday, March 04, 2013

Low Inventories Indicate a Trend

Low inventory is a relative term depending on how you're comparing it.  Would the comparison be to total number of homes on the market last year, homes in a certain price range or homes in a certain area?  In some situations, it's a combination of all of those things.

In any given market, inventories will fluctuate based on area and price range.  The National Association of REALTORS® considers a balanced market to be six months' supply of homes.  If it takes longer than six months to sell, it is thought to be a buyer's market and less than six months, a seller's market.  Most buyers and sellers probably feel inventory equilibrium is more like three month's supply of homes.

Inventory has a direct impact on price.  During the housing bubble, demand decreased, supply ballooned to four million houses and prices dropped dramatically.  Increased inventories due to foreclosures, bank' revised lending practices and builder's lack of new housing starts each contributed to the dramatically lower prices.

As the market has recovered, economic conditions have improved, banks have loosened their requirements, interest rates have remained low, foreclosures have slowed and gradually, the inventory has been reduced to approximately two million houses.  When demand is constant but inventory is reduced, price tends to increase because the same number of people are trying to buy a smaller than normal number of homes.

Based on the low mortgage rates that have been inching up each week in 2013 and an improving consumer confidence level, most markets are experiencing some increase in demand.  With inventory decreasing, buyers in the marketplace can see that prices are increasing.

Just as signs of spring can be seen to be just around the corner, it should be recognized what direction prices will be moving.  Hindsight is 20/20 but we can't purchase or sell in the past.  We need to make decisions today on what we think will happen in the future.

If you're curious to know what inventory conditions are for your specific market, send me an email with the price range and area and I'll send you a report.

Friday, March 01, 2013

1109 Ritchie Road, Gladwin MI - SOLD

1 BR (with potential to be 2 BR), 1 Bath home on Approx 5 acres.


5 acres of land comes with this 1.5 story home. Currently set up as 1 bedroom but has potential of being a 2 bedroom if you finish the upstairs. There is a sun room that needs a lot of finish work as well. Home needs work. No heat source in the home. Good for someone looking for a fixer upper. Sold AS IS. Additional addendums to be signed and submitted with all offers along with proof of funds/pre approval letter.