Chelsea, MI

When is the Fed going to realize that what we really need is a cut in long term interest rates.

A more effective step would be to get 30 Year Fixed to around 5 percent. Doing this would entice home buyers into the marketplace and also would help refinancing for mortgagors get out of adjustable rate mortgages that caused this mess to begin with. Cutting short-term interest rates doesn't help fixed mortgage rates it only directly helps adjustable mortgage resets that are tied to Treasury indexes, not the LIBOR.

Helping those in need is one of the most important things we do as members of the real estate profession. Be they sellers who need to sell a home, buyers who need to purchase a home, or members of the community who are hitting hard times, we need to do what we can. We make our living off our communities and giving back is good business and good for the soul. It's been said that people only care what you know when they know you care, so it is time to show we care.

In our town, we have an organization called "Faith in Action". According to their web-site, they are "a community-funded, faith-based assistance and resource center for those who need an helping hand in the Chelsea and Dexter school districts." They help families and individuals in need by providing food, counseling, backpacks for school, shoes, and other assistance.

Everyone in our town supports this organization, regardless of their faith or their economic status. Our Boy, Girl, and Venture Scouts help with the annual food drive to support their emergency food pantry. Members of the community adopt families for Christmas or provide food baskets for Thanksgiving. The point is, we are all part of the community and we have to take care of our own.

Times are tougher than last year for many people, and even tougher this year. We need to be visible, and caring, helping where we can. Every town has, or should have, such an organization. It doesn't have to be faith-based, it just has to exist. I encourage everyone to find one of these organizations and give back to the community. If you are having a tough year, give time. Volunteer to help. If you are having a good year, consider financial support. The point is to do something.

The local Chelsea real estate market has seen its downturn for nearly 2 years now, on average prices have dropped 8-20% per year since 2006. But finally the market is beginning to show a turnaround. Today there are 202 active homes on the market (202 Residential Homes, 111 Vacant Parcels, 32 Condos, 20 Commercial Properties, 0 Farms and 4 Businesses in total: 369 Active Listings in Chelsea) although the shear number sound terrifying that is the lowest it's been all season. Things are starting to move and I have had a great year thus far.

What does this mean for buyers? If you are a serious homebuyer, the absolute best time of the year to buy is between Halloween and New Year's Day. The reasons are that there are few home buyers are in the market during the holiday season so competition is low and lastly residential home and condo sellers who have their homes listed for sale now are usually highly motivated to sell and will listen to any reasonable offer. There is an additional special reason the 2008 holiday season is a great time to be a homebuyer. It's a "buyer's market". That means even during this slow holiday season, when most unmotivated sellers take their listings off the market, there are more homes listed for sale than there are qualified buyers searching for homes. With the continuing drop in interest rates the buyers that have been waiting around all season for that perfect deal or home are finally starting to realize that its time to buy.

My prediction for 2008 My prediction for 2008 is good if the activity that I have seen in the market in the recent month continues.

For those buyers that have nothing to sell there is no better time to be a homebuyer. With that said I have some terrific homes that are available with immediate occupancy.

28 Sycamore, Chelsea $135,900 with $2500 credit to buyer for closing by 11/28/08. 3 bedrooms, 1 ½ baths, 1688 Square Feet, 2 ½+ car attached garage, partially finished basement with egress window, family room with woodstove, living room with fireplace, updated kitchen. http://surovell.com/mls=2808078

15956 Gorton, Grass Lake (Chelsea Schools) $225,000. 3 bedroom 2 ½ bath, 2041 Square Feet, full walkout basement is plumbed for bath, built in 2006, living room with fireplace, cherry cabinetry throughout, corian counter-tops, 2 balconies, 2^nd floor laundry and a 2 ½+ car attached garage. http://surovell.com/mls=2809342

12894 McKinley Heights, Chelsea $124,900. 4 bedroom, 2 ½ baths, attached 2 ½ car garage, 2320 Square Feet, partial basement all on 2.5 Acres. http://surovell.com/mls=2809665

13693 W. Quail Hollow, Chelsea $319,999. Stunning 4 bedroom, 2 ½ bath home on 1.99 acres, built in 2004, 2396 Square Feet, 3 car attached garage, full walkout basement is plumbed for 3 piece bath, stunning heavily wooded acres backs to Inverness Country Club. http://surovell.com/mls=2810238

2859 Hayes, Chelsea Vacant 2.99 Acres $59,900. Rolling hilltop parcel is perked and ready for your dream home. http://surovell.com/mls=2809809

6541 Clear Lake Shores Unit #3 Condo $155,000. 3056 Square Foot, 4 bedroom, 3 full baths, 2 car attached garage, paved drive, 2 fireplaces, 2 kitchens, study, wrap around deck with lake views of Clear Lake, Chelsea Schools. http://surovell.com/mls=2810484

Additional properties also available in; Manchester, Grass Lake, Pinckney, Brighton, Howell, Dexter, Jackson, Fowlerville, Ann Arbor, Howell and Saline. These properties can be viewed at www.tammylehman.com

Chelsea is a wonderful town west of Ann Arbor and it is a place difficult to leave. You can ask Jeff Daniels about that. It is so idyllic that he has never even left. He does leave for town to do his movies, but he and his wife have decided that staying put and raising a family here in Chelsea, Michigan is exactly what they wanted.

Chelsea has been named the best affordable suburb in Michigan!

It is a wonderful town and its benchmark in town is this lovely clocktower and it is home to small businesses and the Chelsea Teddy Bear Company used to be here, but they have grown so much that they moved behind the clocktower in a separate building and are open to the public.

The Chelsea Teddy Bear Company also shares its wonderful town with the Purple Rose Theater which Jeff Daniels started and you can view some remarkable productions.

Another hot spot for locals as well as people visiting for the theater is the Common Grille. This is a restaurant you can depend on for a wonderful meal.

Last but certainly not least is the charm of the homes in this area. I have yet to take photos of the farm land that is within a few miles (2 or 3 miles) of this lovely town. But here is a home that was built when the town was developed. I hope you enjoy the view and please call if you are interested in more details about Chelsea, Michigan.

I hope you enjoyed the introduction to this remarkable town and please rest assured I haven't even touched on the award winning library or schools or community feel.

Call me if I can show you the town or a home in Chelsea, Michigan and I look forward to sharing this great place in person.

Karen Moorhead

Keller Williams Realty

(734) 660-4785