Saugatuck, MI

Here is the link to the Today Show from earlier this week. Barbara Corcoran's new book, "Nextville" was reviewed. Barbara was picking the new, hip places to retire and, guess what, Saugatuck was first. Here is the link so you can see it for yourselves http://www.msnbc.msn.com/id/21134540/vp/24366939#24366939 Come on over. The water is fine!

Check out my blogs and all homes on mysaugatuck.com.

Spring is here! Or at least it feels like it. The snow has all melted and the birds are back. This is a beautiful time of year to be alive and in Saugatuck!

The willows are greening up and the ice on Lake Michigan has disappeared! Today it was even warm enough to be out with only a light jacket. The cars with the Illinois plates are all over town. That is a sure sign of Spring.

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Come on over for the spring flowers.

The photo on the left is of my great grandfather's apple tree - one of the few that have survived from his orchard. It looks like a Monet when it starts to bloom. The one direcly above is my aunt's barn with the lilacs in bloom.

May will bring not only the lilacs and the apple blossoms but also the tulips. Holland - twenty minutes north of Saugatuck will again be able to judge the exact time the tulips will bloom and has scheduled Tulip Time for an entire week with gorgeous tulips and entertainment including the parade in the wooden shoes!

June brings the Saugatuck Film Festival which is wonderful. Lots of venues and more movies than you can possibly see. It is hard to pick out which ones to leave unseen. Check them out at waterfrontfilmfestival.com. Reserve your bed and breakfast or motel early. This is a very popular event.

Saugatuck has it all - five beaches on Lake Michigan, Crane's orchard, Fenn Valley Winery, art galleries galore, and live theater both at Saugatuck Center for the Arts and Red Barn.

There are great buys available in real estate so you can have your own piece of Saugatuck -condos on the river for under $300,000 including a deep water dock; property right on Butler Street - at the quiet end - for $369,000; and, believe it or not, a foreclosure in Douglas for $155,000 or a home with a view of Hutchins Lake and deeded water access with a dock for your boat for $165,000.

See these on my website - mysaugatuck.com. Read my other blogs by clicking on the bubble labeled Dee Dee's Blogs next to my little dog,Ilsa, to learn about the area and the real estate market. Or better yet, let me know when you are coming and you can view all the properties available on the big screen in my office. For an appointment or any additional information call me at 616-836-8535.

Saugatuck is waiting. Red rover, red rover, why don't you come on over! You can climb the stairs to Mt. Baldhead and run down the other side to Oval Beach - the most beautiful beach on Lake Michigan. Take time to smell the flowers and breath!

What can your client expect when he purchases a foreclosure? They can expect a really good deal when they finally locate their property. What else can they expect? They can expect quite a bit of work as they look and a lot of frustration in the purchasing process. You, as their agent, can expect even more.

Since December, three of my clients have purchased foreclosures in Allegan County, Michigan. One was in Clyde Township, one in Ganges Township and one in Saugatuck Township. Buying a foreclosure is like walking on hot coals to reach the treasure - It can be compared to an Indiana Jones adventure!

My client purchased this home for $95,000 with five wooded acres. It showed inside and out like a brand new home and included all the appliances. The purchase price was about $70,000 below replacement value (including the price of the land) and $30,000 below the SEV value placed on the property by the governing jurisdiction.

I had explained to my client and provided him with a paper which he signed indicating that this might be a time consuming and frustrating experience.

I am not sure he heard me. I had to remind him at the end that he had just purchased his home at a great discount. Clients lose tract of that fact when they may have to pay for additional items during the inspection process. Additional hassle is offset by savings on the home.

Another client of mine purchased this home with three acres and a pole barn for $81,000! It was a young couple first home and they were thrilled!

Here are a few helpful hints as you plunge into the wonderful world of foreclosures.

1. Try to use your own title company. Sometime the seller will allow this and sometimes they will not. If they will not, then at least order a title commitment from your company.

One of my recent foreclosures showed 19 exceptions on my title company's commitment and only three on the one from the seller's title company! Be prepared to be shifted from person to person at the title company of the seller's choosing. They are just overwhelmed and that makes the process more difficult for them and for everyone involved.

2. Be prepared to get an addendum totally in favor of the seller and which will trump the purchase agreement. Blessed be the listing agents who attach the addendum to the listing. You can see what you are getting into before your start and explain this to your client. Don't listen to "don't worry about it. Just sign it" from the listing agent and document, document, document by e-mail to all involved parties.

3. Your client may have to have an attorney to look at the title work. One of my recent sales was a HUD property and HUD refuses to supply a warranty deed but would instead furnish a "Deed C" The title commitment would only insure a warranty deed and this had to be changed to insuring a Deed C.

It took a lawyer to accomplish this and then at closing we still were provided with the wrong title commitment and had to send it back to be corrected. Even if the title company has agreed to a change, be sure to check their work. The title companies doing the foreclosures are totally overwhelmed and as a result you will not get your HUD much earlier than the day before closing. That leaves less time to check the numbers and for your client to get the funds.

4. Be prepared for a very short period allowed for inspections. We were given only ten days to do the property inspections including the well and septic inspections. In addition, if the home has been winterized, your client will be required to pay for dewinterization and rewinterization before and after the inspections.

5. If the home is located in a jurisdiction that requires City Inspections and compliance with local ordinances, the seller will probably not have done these. You and your client will have to order them, pay for them, and assure the jurisdiction that all violations will be rectified and the property reinspected prior to occupancy. All this has to be done in the same ten day period! During the process the buyer and the buyer's agent have to be like Caesar's wife. Be sure you comply with all the conditions imposed on you. The seller on the other hand may not comply. As you recall from your Ancient History - Caesar could do whatever he wanted with Cleopatria BUT Caesar's wife had to be pure as the driven snow!

6. Have experts ready - contractors, plumbers, electricians, well diggers, septic field installers, etc. to give your client prices on any repairs that your client anticpates. It is your responsibility to help the client know what he is getting into. A property may required too much to repair it or have had its structural integrity compromised or just not have "good bones"

7. Be prepared to look at a lot of properties with your client. You may have to kiss a lot of frogs before you find your prince of a property. Not all foreclosed properties are created equal. AS soon as you find the right property be ready to pounce.

7. Be prepared to see the listing agent bow out of the entire process once the offer is accepted until it is time for him/her to show up at closing and pick up their check. Often the listing agent is paid less than the selling agent and is doing a large number of foreclosures. I guess that is why they are sometimes dropping the ball on these. Some listing agents are out of the area and have not ever even seen the property! Some of the ones I have worked with have been great, responsive and easy to work with and some of them were just in the way - when I could locate them.

8. Be sure that your client has his financing or cash ready when you made the offer and be prepared to have the client submit a check up to 10% down to be held by the listing agent.

9. Be prepared to wait some time for the bank to respond to your offer. This is really just a crap shoot. Sometimes they respond in an hour - believe me, I have had it happen - and sometimes it takes weeks.

Don't think that all the foreclosures are on the low end. Recently we have had one in Douglas on Lake Michigan that has now gone pending at under $1M although last year it was listed at $1.6M. It is an ill wind that doesn't blow someone some good. Get you buyers prepared and Ready, set, go!

All available properties can be viewed on mysaugatuck.com

It is time to step up for our Harbor! Saugatuck and Douglas have proposed hiring legal services to prepare for an intergovernmental agency to create the Kalamazoo Harbor Commission and establish its operational requirements and limits.

The Kalamazoo River and Kalamazoo Lake have been the sparkling glory of Saugatuck, Douglas and Saugatuck Township since the land was originally settled.

Currently the Army Corp of Engineers dredges the harbor up to Coral Gables to make the River navigitable. This Commission would study the dredging of the Kalamazoo River and Kalamazoo Lake up to the Douglas Marina and possibly silt collection as far up river as the I96th bridge.

Just imagine what it would be like to have the river back to the way it was when commercial ships docked here and sea captains built some of our historic homes.

Values of property, especially, but not only, on the river front is dependent upon the use of the river and the view derived from it. Many residents of Saugatuck Township have boats moored in the harbor and live in the township so they can have more space around them and to be near their boats.

If the river become un-navigable, property values will be affected. Many of the homes in the area are second homes and buyers who require water will choose South Haven or Holland and Lake Macatawa if our waters do not remain open.

Saugatuck and Douglas have requested that Saugatuck Township participate in the legal cost associated in creating the Kalamazoo Harbor Commission.

Voting township residents should contact Jane Wright by snail mail at Saugtuck Township office at 3461 Blue Star Highway, Saugatuck, Mi 49453 or by e-mail at jwright@saugatucktownship.org or, better yet, attend the Township Board Meeting on April 2, 2008 at the township offices at Blue Star and Clearbrook at 7PM.

If you have always wanted a home on the western shore of Lake Michigan because it is always more enjoyable to watch the sunset rather than the sunrise, there are a lot of choices - sixty to be exact -between South Haven through Saugatuck and up to Holland. These properties are either on Lake Michigan or have deeded access to Lake Michigan. They range in price from around $200,000 to well over $2,000,000.

Two of these sixty properties are in foreclosure - one with 100 feet of private beach for under $950,000, and the other one is listed for $225,000 with deeded access to the lake.

The foreclosures that are priced right do not stay on the market very long so it is imperative for buyers to get a good agent and receive daily e-mails of the listings just hitting the market. Get your financing in place and be ready to pounce. It might take a couple of months but success is possible with diligence and planning and a professional agent.

Fifteen percent more homes were sold on Lake Michigan or with deeded access to it in 2006 than in 2007 and the average price in 2006 was 2% higher than in 2007. Drop in prices does not appear to have effected Lake Michigan homes to the same extent as it has the rest of the market in Southwestern Michigan BUT there are still deals to be had especially in the foreclosure market.

In 2006, there were 26 homes sold either on the Lake or with deeded access to the Lake with an average price of $881,973.

In 2007 there were 22 homes sold either on the Lake or with deeded access to the Lake with an average price of $863,000.

Feel free to check out all the listings on mysaugatuck.com. or call Dee Dee at 616-836-3538.