4959 Ruby, Gladwin MI - SOLD!

Beautiful Waterfront Chalet on 2 Waterfront Lots with a LARGE BEACH!

3 Bedrooms, 2 Bath, 2 Car Detached Garage, plus a 30x40 Pole Barn

SOLD!

You will fall in love with this beautiful home on an extra large double lot, with a stunning view of Island Lake. This property features a large sandy beach, This Chalet is nestled in a wooded setting with lots of shade tress. Enjoy watching sunrises while watching Loons, Bald Eagles and a variety of other wildlife. This home also features a beautiful kitchen with granite counter tops and ash flooring in the kitchen, light birch cabinets, lots of windows, hot tub and sauna in the basement, oversized open deck, pole barn, two car garage with an upper storage area that could be converted into a guest loft. 

All of this sits on the west side of Island Lake, which is a no gas motors lake (elec motors ok), which is approx a 58 acre lake with approx 290 acres of association shared acreage that can be used for hunting, hiking and ATVing. Home is being sold with a ONE YEAR HOME WARRANTY!

Shifting Debt to Tax Deductible

The Mortgage Interest Deduction is available to homeowners for up to $1,000,000 of acquisition debt on the combination of their first and second home.  They can also deduct interest on up to an additional $100,000 of Home Equity debt.

While Acquisition Debt is used to buy, build or improve a principal residence, the Home Equity Debt can be used for any purpose.  It can be used for educational or medical expenses, to purchase a personal car or boat, consolidate debts or pay off credit cards.

A homeowner with $15,000 of credit card debt at 19% and sufficient equity in their home could replace it with a home equity loan at much lower interest rate. Not only would the interest rate on the home equity loan be about 1/3 of the rate paid on the credit card, it’s would now be tax deductible.

If the taxpayer was in the 28% bracket, the net interest on a 6.5% loan would be 4.68% after tax benefits are considered.
Shifting personal debt to Home Equity debt can result in an interest deduction and probably, a lower interest rate. For more information see IRS Publication 936 page 10 and consult your tax professional.

When to Sell the Temporary Rental

Some homeowners, who were not able to sell during the recession, chose to rent their homes instead.  In some cases, they didn't need to sell their home at the depressed prices and opted to rent it until the market recovered.

It's a valid strategy but there are time restrictions that could have serious tax implications for some homeowners.

The section 121 exclusion for gain in a principal residence requires that the home is owned and used as a main home for at least two years during the five year period ending on the date of the sale.  This allows a homeowner to rent their home for up to three years and still have some part of the exclusion available.

The sale of a home with a $200,000 gain that qualifies as a principal residence would result in no tax being paid by the owner.  Comparably, a rental property with the same gain could have a $30,000 or higher tax liability depending on the length of ownership and tax brackets of the investor.

The housing market has dramatically improved in the last year.  If you have a gain in a home that has been your principal residence and it has been rented less than three years, you might want to consider selling it while you qualify for the exclusion.

If you are considering a sale on your principal residence that has been rented, consult with your tax professional for advice on your specific situation.  For additional information, see IRS Publication 523.

Boomerang Buyers

It's estimated that 10% of the homes sold in 2013 will be to buyers who lost a home in the past five years.  Approximately 500,000 buyers who may have thought they wouldn't own a home anytime in the near future will be homeowners again.

It's estimated that several million of these previous homeowners will purchase again in the next eight years.  This kind of activity will contribute significantly to the housing recovery.

Some people thought that the housing crisis would cause a shift in values placed on owning a home but the boomerang buyers definitely don't support that theory.  Having a home of your own, where you can raise your family, share with your friends and feel safe and secure is still part of the American Dream.

The rising rents, increasing prices and low, low mortgage rates are also influencing buyers into the market.  In many cases, it is cheaper to own that to rent.

All new buyers, including those who have experienced foreclosures or bankruptcies, must have good credit history and the ability to repay the loan.  It just may not take as long to reestablish the credit as some would-be buyers might have thought.

Read more about Bidding Wars This Spring, Spring's Wild Card and Boomerang Buyers.

Bunch Your Taxes and Save

One of the drawbacks to low mortgage rates is that the total interest and property taxes paid for the year may be lower than the standard deduction.  A little planning might be able to help you at least every other year.

Most homeowners know they can deduct their qualified mortgage interest and property taxes on their Schedule A of their 1040 tax return or to take the standard deduction if it is greater.  See Your Deduction...Your Choice.

Deductions are taken in the year that they're actually paid.  If a homeowner paid their 2012 property taxes in 2013, they would not be deductible on their 2012 tax return.  Then, if the 2013 property taxes were paid in 2013, both the 2012 and 2013 taxes could be deducted on the 2013 Schedule A.

By delaying the payment of the 2012 taxes until 2013, the combination of the 2012 and 2013 taxes might exceed the 2013 standard deduction and provide a higher deduction. 

Other Schedule A expenses such as charitable contributions and medical expenses may be bunched also.  From a practical standpoint, since most mortgage payments are due monthly, the mortgage interest would not be bunched.

This information should be discussed with your tax advisor to see how it might apply to your individual situation.  The key is you must be aware of the strategy early to be able to use it.

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.

SOLD!

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. 

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)

Maintaining Comfort

Some 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.

Periodically

• 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.

Home prices finally returning to normal - Mar. 5, 2013

Home prices finally returning to normal - Mar. 5, 2013

"2012 was the first year since 1997 that the housing market has resembled something [close to] normal"

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.

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 www.IRS.gov and consult a tax advisor.

 

 

 

 

 

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.  iviebaker@kehoerealty.com

1109 Ritchie Road, Gladwin MI - SOLD

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

SOLD!

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.

2228 Oberlin, Gladwin MI - SOLD!

Cute 2 bedroom Farm House Near Town.

Situated on approximated 4.36 acres.

2 BR, 1 Bath, 2 Car Detached Garage

SOLD!

Very cute 2br, 1ba home on 4.36 acres that was totally remodeled in 2004. Includes appliances, gas-log fireplace, hardwood and ceramic tile floors, cathedral pine ceiling in kitchen and dining area, and a 2 car detached garage. Beautiful country setting!! 

Refinancing Again

We're constantly bombarded by lenders to refinance our mortgage under a variety of programs. The volume of offers can almost make you numb to the rational consideration.

There are common rules of thumbs that homeowners and agents use such as not refinancing more often than every two years or there must be at least 2% savings from your previous mortgage rate may not always be accurate.

The reality is that if you can refinance for a lower rate and you'll be in the home long enough to recapture the cost of refinancing, it should be considered. The costs of previous refinancing that haven't been recaptured by monthly savings may need to be added to the costs of the new refinance.

Take a look at the chart that shows the average rates according to Freddie Mac for 2012. They are lower today than they were in January of 2012 and for the ten years before that.

Refinancing may save you a substantial amount of money, especially if you're going to be in your home for a long time. It is definitely worth investigating. To get a quick idea of what your savings could be, use this refinancing calculator.

It It Shows Better... - 2/18/2013

If it shows better, it will probably sell faster and maybe for more money. Once your home is on the market, it's time to look at it like a commodity and through the eyes of potential buyers. In all likelihood, you'll need to take care of these items eventually, so do them now to help it sell sooner.

1. Make repairs - it doesn't matter if it's been that way since you bought it. You need to fix it so that the buyer doesn't think that the rest of the house is about to fall apart.
2. Not too personal - you may have bought your home to express yourself but if the buyer can't see themselves in the home for all of your things, it's going to take longer to sell than you want.
3. Drive-up appeal - the old saying "you never get a second chance at a first impression" applies to your home too. They may never even get out of the car to come inside.
4. The nose knows - it may not smell like home but it shouldn't smell like a place they would never consider living.
5. Neutral colors, decor, etc. - these are not decorating tips you'll see in magazines but the truth is that bold colors and designs are difficult for most people to see beyond. They'll imagine their things better in neutral surroundings.
6. Less looks like more - removing some of the non-essential things from your home will eliminate clutter and make the home feel larger. The same suggestion applies to cabinets and closets.

A confused mind will not make a decision. Identify and eliminate items that could derail a potential sale. The preparation you make in the beginning will help the presentation to your buyers.

More Expensive Than Expected

The 3.5% down payment on FHA loans could be more expensive for buyers than expected. Beginning April 1, 2013, the mortgage insurance premium will go up by .1% to 1.35% which may not even be noticeable to most would-be homeowners.

The staggering increase will occur on 6/3/2013 when FHA's policy on the duration of the required mortgage insurance will be increased for the life of the mortgage. It basically doubles the amount of total MIP if the loan is paid to term.

Example: Purchase Price $175,000 with 3.5% down payment at 4% mortgage rate on 30 year term
	Current	After 6/3/13
MIP duration	78% of original loan	Life of mortgage
Cumulative premium	$20,838.24	$42,447.93

Currently, the MIP is required for approximately 9 years 9 months with normal amortization. The new program would require the MIP for the life of the loan. In this example, the initial monthly MIP is $196.88 which decreases based on amortization.

There are buyers that qualify on income and credit who may not have the necessary additional down payment required for 80% and 90% conventional loans. The 3.5% FHA program has provided a great vehicle to get into a home with a minimum amount of cash.

For homeowners that expect to stay in their home for ten years or less, the new changes might not have much financial impact. Homeowners who expect to be in their home long term can refinance with a conventional loan without mortgage insurance once the equity has increased due to amortization and appreciation.

For buyers to avoid these increases, they will need to act now to get the FHA commitment issued prior to these change dates.

Before You Leave Home...

The last thing you want to do while you're on a trip is to worry about someone burglarizing your home. Use this checklist to add some peace of mind to your travel plans.

• Ask a trusted friend - to pick up your mail and newspaper and keep the yard free of trash and advertisements.
• Stop your mail but maybe not your newspaper - you can easily handle this online by going to the US Postal Service's Hold Mail Service. A recent story implicated an employee from a major newspaper who was passing customer hold requests to burglars.
• Don't post about your trip on Facebook and Twitter until you return - some burglars actually look for this type of announcement to schedule their activities.
• Do notify police and/or neighborhood watch - especially if you're going to be gone for more than just a few days. Let your monitoring service know when you'll be gone and if someone will be checking on your home for you.
• Light timers make it look like someone is home - use several set for different times to better simulate someone at home.
• Do unplug certain appliances - TVs, computers, toaster ovens that use electricity even when they're off and to protect them from power surges.
• Don't hide a key - burglars know exactly where to look for your key and it only takes them a moment to check under the mat, above the door, in the flower pot or in a fake rock.

These easy-to-handle suggestions may protect your belongings while you’re gone while adding a level of serenity to your trip.

What's It Going to Take?

How much evidence is needed to make a decision to get out of the rent race and become a homeowner?

Compare your rent with a mortgage payment on a similar size property. If you want a larger home than your current one, use the rent that property would require instead of what you're currently paying. If it's considerably cheaper, you may not need any further encouragement.

By the time you consider the principal reduction, appreciation and tax savings, your monthly cost of housing could be much less than the rent you're paying.

The principal reduction included in each payment is like a forced savings account that increases as your mortgage balance decreases. Your equity in the property will also grow due to appreciation. The equity is part of your net worth and an investment in your family's future.

The income tax savings can be an additional financial consideration if the combined interest and property taxes exceed the allowable standard deduction.

Trends are showing that both tenants and homeowners are staying in their homes longer. It's been said that whether you rent or own, you're paying for the home. Do you really want to buy the home for your landlord? Check out your numbers on a Rent vs. Own.

59 Acres Brushaber Road, Beaverton MI - SOLD!

Are you looking for an affordable large hunting parcel?

You may have just found it!

59 WOODED ACRES in SE Gladwin County!

SOLD!

Exceptional hunting parcel with nice woods and a nice open area towards the center of the property. There is a trail that leads all the way to the back of the property. Fabulous deer hunting and turkey country! If you are looking for an affordable hunting parcel, you may have just found it. Either build or camp towards the front and hike back to hunt. It's also located on a county maintained road. 

Selecting the Right Color

Have you ever picked a color from the myriad of paint samples available, put it on the wall and decided that it was all wrong? It shouldn't have to be that difficult but trying to pick the perfect color from those little swatches is just not that easy.

Painters and decorators suggest you buy a small amount of the colors you're considering. Your paint store should be able to mix them in any brand and any color. Once it's on the wall, it will be easy to determine if it needs to be lighter or darker or if it's completely wrong.

Take them home and paint a 2' x 2' area on the wall. If you're concerned about testing the colors on your wall, you can paint some sample boards that can be easily moved around to see how they'll look with the furniture, floors and other items in the room.

Instead of guessing what it's going to look like, you'll actually see how it looks during different times of the day, in natural and artificial light.

While $30 to $40 a gallon for paint may seem like a lot of money, the cost in time and labor to put it on the wall is even more. It's worth taking the time to test the color on the wall before you buy all the paint needed

Sooner is Better than Later

Buyers who have delayed purchasing a home due to concerns about what might happen to the tax laws affecting home ownership should feel comfortable about getting back in the market. The recent legislation passed by Congress and signed by the President continues to value homes as a favored investment.

For a summary of specific real estate provisions in the "Fiscal Cliff" bill, click here.

Whether the delayed purchase is for a home to live in as your principal residence or to use as rental property, taking action sooner is better than later.

Reasons to buy now:

1. The house payment with taxes and insurance is probably cheaper than the rent.
2. Rents will continue to rise making the difference even greater in the future.
3. Lock-in the principal & interest payment with a fixed-rate mortgage.
4. 30 year mortgage terms are available to most borrowers.
5. The mortgage interest deduction is intact for the majority of taxpayers.
6. The capital gain exclusion for principal residences up to $500,000 remains in place.
7. Prices are going up due to lower inventories and several years of low housing starts.

Contact me about any specific questions you have or information you need.

Get Your Offer Accepted

As the market shifts from a buyer's market, it's good to know how to improve your chances to have the seller accept your offer.

Once you decide on a home, don't waste time; write an offer and submit it as soon as possible. Competing with another buyer happens more frequently than you'd expect. Multiple offers are a seller's advantage but here are some tips to level the playing field:

• Realistic offer - don't give the impression you're trying to "steal" the property. Submit comparable sales that justify your offer.
• Pre-approval letter - this satisfies seller's biggest concern that an unqualified buyer will unnecessarily take the home off the market and the seller will lose other opportunities.
• More earnest money - it shows you're serious and makes the seller feel like the contract will actually close.
• Minimize contingencies - from a seller's standpoint, each contingency is one more reason why the sale won't go through. They feel the home is "off the market" and they're in limbo.
• Shorten inspection period - your agent can help you set a reasonable date but let the seller know you're willing to close prior to that if possible.
• Write a personal letter to the seller telling them why you want their home - this can be the emotional connection to the seller that makes the difference in you getting the home.

A seller wants to feel confident that the offer they accept will actually close so they can plan for their next move. Following tips like these can definitely affect negotiations and help put together an offer that is more likely to be accepted.

Resolutions

After spending the holidays with family and friends, this is a time of the year to start thinking about changes to make in our lives, both personal and in business.  We wanted to share one of ours with you.

Our goal is to become your REALTOR® for life.  We want you to think of us first when you need to buy or sell and that you’ll recommend us to your friends too.  That kind of trust has to be earned and we’re committed to helping you be a better homeowner even when you’re not buying or selling.

The strategy is simple.  A well-informed homeowner will make better decisions.  We’ll periodically offer information through articles and social media on a wide variety of home-related topics like maintenance tips, tax law changes, financing suggestions, insurance, equity building strategies, and rental property investments. 

Please contact us if you need a recommendation on a service provider.  Our experience has built a list of reputable and reasonable contractors that you can rely upon.  When you have any kind of home-related questions, I hope you’ll have the confidence to call us.

Happy New Year.  We sincerely look forward to helping you or your friends.

REALTORS® Expect All States to Post Price Gains in Next 12 Months

REALTORS® Expect All States to Post Price Gains in Next 12 Months

Michigan is on the list of states expected to see good increases in real estate values in the next 12 months.

Avoiding Unexpected Expenses

It's common for sellers to consider offering and buyers might find it an incentive, but a growing number of homeowners are purchasing the home warranties themselves to limit the unexpected expenses of repairs and replacements.

A home protection plan is a renewable service contract that covers the repair or replacement of many of the components in a home. Some homeowners especially like the convenience that it organizes a qualified service provider as well as the cost of the items.

There are a variety of companies that offer home warranties and the coverage may differ but the majority of things will include heating, air conditioning most built-in and some free-standing appliances, as well as other specific items. Additional specific coverage may be available for other things like pool and spa equipment.

Some investors are even placing this coverage on their rental properties to limit the amount of maintenance repairs during the year. It is a viable alternative to managing the financial risk and the stress dealing with unexpected expenses.

If you're interested in home warranties, I'll be happy to send you more information.

Let Your Tenants Send Your Kids to College

Most people have lots of things to save for but not always enough discretionary income after the family essentials have been met.

A relatively small investment in a rental home can control a good home that will easily rent, generate positive cash flows and pay for itself. The borrowed funds create leverage that earn a return on the total value of the home and not just the amount of cash you have invested.

The strategy is simple. Find a slightly below average priced home that will rent well. It will appeal to a larger group of people while it's rented and when it's ready to be sold.

Rent the home and maintain its condition over the years. As the loan amortizes and the value increases, the equity will grow. When your student is ready to start college, you'll actually have several options.

You can sell the property; pay the tax on the gain at the reduced capital gains rate and fund the education. Another option would be to refinance and take the proceeds to pay for the tuition. This would allow you to continue to own the asset but would free your equity and under current tax laws is a non-taxable event.

Regardless of whether you're trying to plan for your children's education or your own retirement, rental property offers many solid investment opportunities. Contact me if you want more information.

Foreclosure Redemption Period for Larger Land Parcels Changed

QUESTION: I am representing a seller whose house was foreclosed and purchased at a foreclosure sale by the bank on February 10, 2012. Their house is on a 3 ½-acre parcel of land. It is my understanding that the redemption period for parcels over 3 acres is one year. Am I correct?

ANSWER: NO. The law has been changed. The one-year redemption period now applies to property that is used for “agricultural purposes.”

There is a presumption that land is being used for “agricultural purposes” if prior to the sheriff’s sale, the property owner provides the lender with proof that the property owner filed a federal income tax form 1040 Schedule F for the preceding year. The property owner must also record an affidavit with the register of deeds for the county in which the property is located stating that such proof has been delivered to the
lender.

This new law was applied to all sheriff sales after February 1, 2012.

FHA to Cost Borrowers More

FHA has announced a major change to its loan program which allows borrowers to cancel the mortgage insurance premium (MIP) when their unpaid balance reaches 78% of the original purchase price. While no specific date has been set for the change, sometime in 2013, new FHA loans will require the mortgage insurance for the life of the loan.

At existing rates, the monthly MIP on a $168,875 mortgage is $178.99 per month. Under the current rule with normal amortization, the MIP would no longer be required in 9 years and 9 months. However, under the new rule, it would last for the entire 30 year term.

They also announced that the annual MIP will also be increased from 1.25% to 1.35% at some point in the near future. HUD, the parent agency for FHA, is making the changes to restore the capital reserves of the program that are needed to fund failed loans.

People that can close a FHA loan before the change takes place will fall under the old rules for canceling MIP and the lower rates. Since no date was announced, it is not known exactly when the changes will take effect.

While this information will probably not make the evening news, it will have a big impact on borrowers planning to use an FHA loan. Please pass it on to anyone you know who might be considering purchasing or refinancing with a FHA loan.

118 Acres Watson Rd, Beaverton MI - SOLD!

118.66 Acres of PRIME Hunting Acreage

SOLD!

Update from Seller for 2012 Hunt: "Jim.. This is really deer country??? SEVEN hunters, took five nice bucks the first and three does.. The second day and another buck and four more does.  so that is 6 bucks out of seven hunters. The first day they saw  a combined  137 deer and seventeen  bucks.. You must remember we have the three point rule on our property."

Are you looking for that perfect hunting property? You may have just found it. This nicely wooded 118+ acre parcel offers a fantastic habitat for deer, turkey and a variety of other wildlife. There are several established trails throughout the property and several hunting blinds. This property is located in an area of other large parcels on a dead end road. Lots of privacy. We even jumped a nice 8-10 buck in velvet, when driving through the property. Need Appointment to walk property (especially during hunting season).

Dripping Dollars

Conserving water to be green while lowering your monthly bill to save green is a beneficial combination. Little things can contribute significantly to a large water bill.

• Leaky faucets can waste over 1,000 gallons a year
• Leaky toilets can waste 7,000 gallons a month
• A five-minute shower saves more water than a tub bath
• Water running while you brush your teeth or shave
• Sprinkler heads need to be adjusted to spray on the yard only
• Install a rain sensor on sprinkler system
• Pool equipment can be a hidden source of wasted water

A larger than normal water bill can be your first indication you have a leak. Then, you'll need to track it down.

1. Turn off all the water faucets and appliances; don't forget the ice maker.
2. Open the water meter, usually located near the sidewalk in the front of the house. You may need a water key that can be purchased from a home improvement store or possibly borrowed from a neighbor.
3. Locate the dial indicating water usage. It should not be moving since all of the water is off. If it is still moving, verify that you have turned off anything that might be using water.
4. If it appears to be still, make a mark with a Sharpie and wait 15 minutes. If the flow indicator has moved, you probably have a leak.
5. Now that you've confirmed that you have a leak, you may need help in locating it. A plumber or leak specialist may be able to help you track it down and repair it.

4575 Hamilton Way, Gladwin MI - Nice Sugar Springs Home - 3 Lots

This nice home offers plenty of space!

3 BR, 2 Bath, 2.5 Car Garage

$116,222

Take a Virtual Tour!

Click HERE for More Info and Photos!

Nice country home located in the far outskirts of Sugar Springs on a triple lot with a view of Lake Lancer and Nineteen Lake. This home features a metal roof, covered porch, large back deck, a full unfinished walkout basement and a triple lot (contiguous w/one tax bill and dues). Enjoy a large yard with a view. Great location for a family to enjoy Sugar Springs. Boat docks are just walking distance away.

Kehoe Realty changes hands with retirement - Gladwin County Record and Beaverton Clarion: News

Kehoe Realty changes hands with retirement 
(Click link to go to the Gladwin County Record Article)

Many of you might already know, but Mike and Don Kehoe have decided that they are going to retire from real estate on Dec. 31. Jim and Ivie Baker will be taking over as the new broker/owners of the company. Of course, they say, they’d love Don to stay on indefinitely, but he’s decided that he would like to do some traveling. He has been talking about it for years, and finally he will get his chance.

“As Mike and I were talking of selling, we were approached by Jim and Ivie. We both felt this would be an excellent fit,” said Don. “Jim and Ivie have the experience, as they have been with Kehoe Realty since 1999, and are both Associate Brokers. Their dedication, hard work, and integrity, will continue the path we have worked to establish and maintain.”

Jim and Ivie started working for Don and Mike in April of 1999. “It was one of the best career decisions we had ever made,” Jim and Ivie said. “We can’t say enough wonderful things about our relationship with Don and Mike Kehoe. They have been extremely supportive of us – and all of the Kehoe staff – over the years,” they added. “They have always been there for us when we needed help and guidance. Don has always said, ‘There is no such thing as a stupid question,’ and we never felt that we couldn't go to them for anything. They have always treated us with the utmost respect and we can truly say, that even though we are not related, we feel like they are family.”

The Bakers describe Don the way many people know him – sincere and always honest. He is a wonderful pillar of this community, they added, nothing that he has started several major projects in Gladwin County over the years. He has also served on several boards including the Clare/Gladwin Board of Realtors, Gladwin City Board, Mid Michigan Community Action Center, Knights of Columbus, and many others. Don has donated to several local charities and supported our local schools and businesses. According to Jim and Ivie, Don has always believed that we need to support the people and community, and his record has shown that he has lived by that philosophy.

“We are going to sincerely miss Don when the day finally comes and he is officially retired. However, we know that he will be frequently dropping into the office to check in on all of us and to tend his beautiful gardens around the building,” said Ivie.

“We are looking forward to our new adventure and will proudly pick up where Don leaves off.” said Jim. “We feel that Don has more than prepared us for the future with his shared knowledge and experience. We also have a wonderful staff of Realtors who will be continuing that adventure with us. They are Christine Gallagher, Melissa Castillo, Mary Moore, Lynn Bloomfield, Candi DeFore, and our new Corporate Office Assistant Kim Sturgis.”

Don and Mike Kehoe have been Kehoe Realty Inc. owners and brokers since it’s inception. “Don and I offer our congratulations to Jim and Ivie as they continue serving the Real Estate needs of Gladwin and Clare,” said Don. Jim said that he looks forward to Kehoe Realty offering the same commitment to the community as Don did.

“We at Kehoe Realty look forward to serving the community that Don loved so much. I imagine it is why Don chose the heart as our logo,” Jim said. “We will always strive to be known as the agency with a heart. And Don will be forever in ours.”

A Spoonful of Honey is Good Medicine by Dr. Rallie McAllister on Creators.com - A Syndicate Of Talent

I know this isn't real estate related, but I thought it was good information. I have been taking honey when I felt a cold coming on and I feel it really does work!

A Spoonful of Honey is Good Medicine by Dr. Rallie McAllister on Creators.com - A Syndicate Of Talent


A spoonful of honey can do more than just satisfy your sweet tooth — it might improve your health.

For centuries, the natural sweetener has served as a versatile healing agent. Folk remedies featuring honey have long been used to treat ailments ranging from the common cold to constipation.

Read more!

News Release: Housing Statistics, Strategic Business and Vision Planning | realtor.org

News Release: Housing Statistics, Strategic Business and Vision Planning | realtor.org


Lawrence Yun , chief economist of the National Association of Realtors®, said the housing market clearly turned around in 2012. "Existing-home sales, new-home sales and housing starts are all recording notable gains this year in contrast with suppressed activity in the previous four years, and all of the major home price measures are showing sustained increases," he said.

Click the link above to read more!

What's the Point?

Pre-paid interest, sometimes called "points", is generally tax deductible when a person pays them in connection with buying, building or improving their principal residence. When points are paid on a refinance, they are not a current deduction but have to be taken pro-rata over the life of the mortgage.

For instance, if $3,000 in points were paid on refinancing a 30 year mortgage, deduction of $100 per year is allowed. When the loan is paid off or replaced by refinancing again or the home is sold and the mortgage paid off from the proceeds, the balance of any un-deducted points may be taken in that tax year.

Your tax professional needs to be made aware of any of these situations so that he can accurately reflect the deduction in your return. Currently, the most common situation is where homeowners may be refinancing their home for the second, third or even fourth time. If there are points that have not been completely deducted, they need to be treated in the year of refinancing.

For more information, see points in IRS Publication 936; there is a section on refinancing in this publication. For advice considering your specific situation, contact your tax professional.

Water Damage - Covered or Not?

A number of things can cause water damage to a home and it's important to know whether they're covered by your insurance policy. Some water damage may be covered and other may not be. Generally, you need an incident to invoke coverage rather than something gradual due to lack of maintenance.

However, some incidents are specifically exempt from homeowner policies such as floods. A flood can be described as rising water due to overflow of inland or tidal waters or unusual and rapid accumulation or runoff of surface water from any source.

Homes in designated high-risk flood areas with mortgages from federally regulated or insured lenders are required to have flood insurance.

Even if you don't live in a dedicated flood zone, you could be affected by flood damage. Review your policy about water damage and call your insurance agent to get a better understanding. Ask if you need to purchase additional coverage or separate flood insurance along with other questions.

Flood insurance can be purchased for the building and the contents. The average flood insurance policy costs about $600 per year. For more information, see the National Flood Insurance Program.

How are Multiple Offers Handled?

First of all, there really are not any defined rules. The seller is the true deciding factor on how the multiple offers are handled. The seller can accept an offer, counter some offers and not others or outright reject one or all offers.

Since multiple offers can be a complex and often an emotional experience, we put together this
Q & A page to give buyers and sellers a better idea of what they might expect when this type of situation arises.




Q & A - Multiple Offers

1. Doesn't the SELLER have to work with the first offer they receive first? 
No. They can work with whichever offer they choose.

2. Does the seller and/or the listing agent have to give notice to all parties that there are more than one offer on the table?
An agent can only disclose the existence of multiple offers only with the permission of the seller. However, it is usually to the sellers best interest to give notice to all parties so that everyone is given an opportunity to give their highest and best offer. 

3. When the seller delivers a counter a offer to a buyer and another offer comes in before the buyer responds, isn’t the seller obligated to work with the offer that is in progress before moving to another offer? 
No. The seller has the right to cancel their counter offer at any time before they receive delivery of an acceptance from that buyer. The seller can either decide to take the better offer, counter the offer of choice or notify both parties to give their highest and best offer. However, it is often common practice for a seller to deal with one counter offer at a time. It is truly up to the seller on how they want to handle multiple offers.

4. If I make an offer through a buyers agent who does not have the property listed and another offer comes in through the listing company (or other company), can the listing agent/company share my offer with the other bidder?
Yes and No. A listing agent who is not representing the buyer(s) cannot share an offer with other buyer(s) UNLESS the seller gives authorization to do so. 
(Note: In a dual agency situation, the agent cannot disclose offers to other bidders without permission of the represented buyer, even with the sellers authorization).

5. If there are multiple offers and the seller chooses to counter my offer, can I counter the offer again?
Yes, but the moment you counter the sellers counter, the sellers offer is VOID. You are basically making a NEW OFFER. The seller can then decide whether they want to accept, reject, counter your offer or move onto negotiating with one of the other offers. In some cases the seller may  ask all parties to present their highest and best offer, at that time. 

6. If my offer is not accepted, can my offer it be used as a backup offer? 
That will be up to the seller. In many cases, the seller might offer for you to hold the back-up offer, but at the same terms as the accepted offer. If there were more than 2 offers, they may decide which buyer should hold the first back up offer or decide not to offer backups at all. (Most foreclosure listings won’t accept or offer back-up offers).


Q & A - Dual Agency with Multiple Offers

7. What is the advantage of having dual agency representation (buyer and seller are represented by the same agent or firm)?
It protects the confidentiality of both parties. The agent cannot disclose confidential information about either party without consent.

8. What is the disadvantage of dual agency?
The agent cannot council either party on what to offer, what to accept or what to counter. However, if asked, your agent can provide information about similar properties that sold in the area. Then, based on that information, you’ll have to then decide what price you think is fair.

9. As a buyer, can a dual agent provide council on what I should offer?
No. However, as answered above: If asked, your agent can provide information about similar properties that sold in the area. Then, based on that information, you’ll have to then decide what price you think is fair. However, agents are still obligated to disclose any known defects of the property to the buyers.

10. When working with a dual agent and multiple offers come in using the same agent, how do I know that my offer is not being shared with the opposing bidder? 
With dual agency, the agent is obligated to all represented buyers NOT to disclose the offers of the opposing parties without authorization. However, if a buyer is not represented by the listing agent/office and the seller gives authorization to share offers with one or more parties, this can occur and it is legal. 


Disclaimer: I/we are not attorneys and these questions and answers have been complied through online research.

Credit Dos and Don’ts When Securing a Mortgage | RISMedia

Credit Dos and Don’ts When Securing a Mortgage | RISMedia

When it comes to securing a mortgage in today’s challenging lending environment, your credit rating is more important than ever before. Good credit is integral to obtaining the best interest rates and terms on a mortgage.

(Click on link above to read more).