Ypsilanti, MI

Ypsilanti homebuyers/shoppers...School is almost back in. Can't believe that time went by so quick. Well for me it's because I've been in school the whole time. Well we College students returning and some beginning. I remember it was fun and exciting me. Looking for great deals on rentals whether it was condo or a house and even apartments. Though some love the experience of campus life.

Though we don't have long. Now time is approaching on the deadline on the homebuyer tax credit. Want to help your kids out with tuition or books and supplies? Think about this. The tax credit is designed for time homebuyers and since your parents may not qualify....doesn't mean the kids and become recipients of it. To the parents you can buy your daughter or son a condo or a small house and their name can be on the title which can entitle them to a $8,000 dollar tax credit. Check with a local title company to learn about the details. Wonder what that money can do. That pays for at least 2 semesters without financial aid or you save $8,000 in your pocket. Sounds good right.

This would be a good way to start off a good school year. So let's think logic, economics, a little accounting, some phsycology, and of course business. Make a good and smart investment..kids will thank you later...and you will thank yourself.

In three years I've spent a great deal of time looking for a niche market. I've look at new builds, condos, old and new subdivisions. Just recently I became fond of older homes built during the 1920s or 50s. I took a look at the old west side of Ann Arbor and thought how well these homes have been kept up. The thing that drew me to these homes were that they had there own unique style to them.

Now me being in Ypsilanti I took a look at Normal Park. Normal Park has a historical feel along with the homes to go with it. I've seen quite a few homes in the area. Each one are different. The most impressing part about it is that these homes like the ones one westside of ann arbor are well kept.

There is a lot pride in these neighborhoods. It gives the city an identity that everyone is familiar with. It feels like a real neighborhood nothing cookie cut like most of the newer subs. Great place to live and relax and somewhere you'll be happy to come home to.

Again after spending time looking for a market to have....I think I've found one!

Just yesterday I bought a book for my online course at Eastern Michigan University. When I bought this book it was over a $100. So I as the cashier if I could sell the book back at the end of the semester. He simply replied yes but there will be no money to get from it because a newer edition will be used. This made me frustrated on how universities and colleges work. Now we spend so much money going to school and buying books. You think we get some sort of break when we return books we no longer need. I bet there are lot students with books they couldn't sell. So what happens to them. They sit on a shelf or take up space in a corner somewhere. It's not of all books; some are relevant to what we are attending school for. Though for the ones that has no bearing on what we attending school for...can they please take the books or have some place to dump these books? It's a cost that we absorb if we use them or not. So why gives us some incentive for returning books we longer use or don't have an interest for?

I know that there has been a lot of talk about the Homebuyer tax credit. It's an incredible incentive to purchase. Though, for those that are waiting for prices to drop......let's just say you will miss out on the great deals that are already out there.

Now I've mentioned you have only 4 months to take advantage. Why? Ok well let's walk you through the process. First, you will have to shop for a mortgage...remember the minimum credit score for FHA is 620 and the minimum down payment is 3.5%. Second, let's look at what homes are available in your price range/ area or what you are approved for. Third, let's work with a Realtor who understands the current shift in our market here in Ypsilanti. By this time we've spent maybe two and halfs weeks or less getting to this point. Now consumers in the Ypsilanti area now that most of our homes on the market are either foreclosed or subject to a short sale. Now we must understand with the bank involve it takes more time than usual. This part of the process could take as little as weeks or as longs as a couple of months.

After that it's negotiations, who will take care of what? Is the bank? or is it you? will it be a third party? Will you have to come up with extra? Will the appraisal come back under or over the sales price? Once that is settle and you have clear title..so let's get to the closing table....now will all the funds be there? We hope so?

I say all that to say this....this is a great opportunity to purchase if you are able to. The process I just explain to you takes a while. You don't want to wait at the last minute and find you're not able to take advangtage of the tax credit. Remember the deadline is November 30th. It's almost August...so let's get going.

Ypsilanti City is zip code 48197 and includes both Ypsilanti Schools and Lincoln Consolidated School Districts. Willow Run is zip code 48198. Both of these area's have been the hardest hit by foreclosure's and short sales.

Here is a chart showing the average sale price and the amount of inventory.

Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

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