Kathy Toth Ann Arbor, MI Real Estate

Ann Arbor is full of a great variety of different real estate options for the discerning buyer. Whether you are looking for a home in the suburbs or a unit downtown Ann Arbor Real Estate has it all!

Ashley Mews in downtown is a great development which offers luxury living minutes from all amenities that downtown Ann Arbor has to offer.

The properties at Ashley Mews are located on South Main Street, just one block south of Restaurant Row in downtown Ann Arbor and are modeled after the fine tradition of Boston’s Back Bay and Georgetown in Washington, D.C.'s classic brownstone and loft condominiums. Ashley Mews is a community of condos built in 2002-2003 by O’Neal Construction of Ann Arbor. The development offers five floorplans including 2, 3 and 4 level models as well as penthouse units accessed exclusively by a private elevator.

The Ashley Mews also have tucked away parking spots underground as well as gracious outside spaces. Pets are allowed. Children attend the following Ann Arbor Public Schools: Bach Elementary, Slauson Middle School and Pioneer High School. Of course the development is also only one mile from central campus.

The units inside feature stunning finishes throughout, including hardwood flooring, en-suite bedrooms with walk-in closets, maple, oak or cherry cabinetry in the kitchen, granite counter tops, stainless steel appliances and much, much more!

In total, Ashley Mews is a 112,360 square foot development containing 47 units organized over five brownstone buildings. Building Association fees include gas, water, sewer and garbage pick up.

Please contact our office for more information on this development and its units.

Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs.

I took a break to be at a meet up this moning at Sweetwaters on Wahington to support a fund raising campaign to support the arts in the area. According to a survey in Washtenaw County, 63 percent said arts and cultural programs are very important in the residents choice to live in Washtenw County.

Four percent of the county's total workforce works in the creative economy. Ten percent of the county's total payroll is generated by the creative economy. The group for the Tuesday Twetup are part of the Community Foundation of Southeast Michigan's Arts and Culture Challenge. This was their effort to engage in social networking to help the fund raising efforts and awareness. For detailed information click here. For Ann Arbor video, click here.

Participants included: University of Michigan (Museumof Art, Exhibit Museum, Henry Ford Estate)

Performance Network Ann Arbor, MI

Purple Rose Theatre Company

Leslie Science and Nature Center

University Musical SocietyArts Alliance

I hope the Cultural Master Plan is successful. Just in case you want to contact a human, Linh Song is at lsong@new.org or 734 -998-0160 x217.

Kelley, the Seller praises Kathy Toth Team for executing the sale of her Chelsea Ridge home.

The house was listed last year and payments were being made until the seller moved to resume business in another city. The property was rented and when the tenant moved out, payments became impossible. We listed the house on 03/16/09 and had some buyers who decided to walk. Meanwhile, we got in touch with the loss mitigator at Countrywide. We got approval and the new buyer was able to close for full price at $175,000 on 8/3/09. Many sellers think it is better to just go to foreclosure. So I thought I would post the Homeowner Consequences of Foreclosure vs. Short Sale from the Certified Distressed Property Experts. Check out foreclosure-v-short-sale omeowner consequences. My hope is that Ann Arbor Area Sellers call us before the hardship even becomes evident. I am also posting the Michigan Foreclosure Timeline here.

MICHIGAN MORTGAGE FORECLOSURE TIMELINE

First Month Missed Payment: The first month that your payment is missed, your mortgage company is likely to contact you by mail and/or telephone to inform you of your delinquent status. A late charge is assessed on your missed payment.

Second Month Missed Payment: The second month that your payment is missed, your mortgage company is likely to begin calling the contact numbers that they have for you in order to discuss why you have not made a payment. It is important that you not avoid their telephone calls. Try to stay calm on the phone. Explain to them your situation, and what you are doing to resolve it. You still may be able to make one payment at this time to prevent yourself from falling three months delinquent.

Third Month Missed Payment: At this point, you are likely to receive a letter from the mortgage company stating the amount that you are delinquent and that you have 30 days to bring it current. This is called your “Demand Letter” or “Notice to Accelerate”. If you do not pay the specified amount or make some form of arrangement by the date given, they are allowed, at that time, to refer you to foreclosure or accelerate your mortgage. They are unlikely to accept less than the total amount due without prior arrangements. Foreclosure/Acceleration means that they forward your account to their Attorneys. You still have time to work something out with the mortgage company.

Fourth Month Missed Payment: Now you are typically nearing the end of the time allowed in your Demand Letter or Notice to Accelerate. If this expires and you have not paid the full amount, or worked out some arrangements, then you will be referred to their Attorneys. At this time, you incur all Attorney fees as part of your delinquency. The Attorney then schedules a “Sheriff’s Sale”, which is the actual date of foreclosure. The Sheriff’s Sale will be scheduled for approximately six weeks after the Attorney receives your file. You will be notified of this date by mail, along with a notice taped to your door. This is NOT a move-out date. The Attorney publishes a notice of foreclosure over four successive weeks in the local legal newspaper. After the first insertion on your property is published in the legal news, you have 4 weeks until the Sheriff’s Sale. Contact your lender NOW!

Sheriff’s Sale: You have up until the date of the Sheriff’s Sale to work out arrangements with the mortgage company or to pay the total amount owed (the reinstatement amount). At the Sheriff’s Sale, your house will be sold. An outside party may bid on your home. If no bids are received, the home goes back to the lender.

Redemption Period: If nothing is done to resolve the situation and the Sheriff’s Sale is completed, then you enter the Redemption period. The redemption period starts from the date of the Sheriff’s Sale. State law in Michigan requires that this period is no less than 30 days, and no more than one year. Most mortgages allow the homeowner six months to redeem the property with the lender/bidder, paying the amount owed plus interest and fees. If the property is over 3 acres, you may have a 12-month redemption period. You will be notified of your time frame on the same notice that states your Sheriff’s Sale date. This is still your time to reside in the home.

End of Redemption Period: If the homeowner has not redeemed the property, ownership is transferred to the lender or bidder. If the homeowner has not left, the new owner starts the eviction proceedings. An eviction hearing is held within two weeks, followed by a 10-day grace period for the former homeowner to vacate the premises. When the grace period ends, eviction is certified. Court bailiffs are notified, and they empty the premises. Any of your belongings remaining in the home are moved to the curb for disposal. The locks are changed, and you no longer may reside there.

If you know someone who is in this situation, be sure to have them hire an Ann Arbor Area Cerrified Distressed Property Expert. A Certified Distressed Property Expert® (CDPE) is a real estate professional with specific understanding of the complex issues confronting the real estate industry. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market.

Look for homes in Chelsea. If you are looking for foreclosure deals, click here.

Morgan and York is a fine community member - giving to local charities and welcoming newcomers to Ann Arbor, Michigan. See inside this business located at 1928 Packard. Anyone who has been here in Ann Arbor for more than a few years will remember the store as Big Ten. Try to visit them in person or visit their website www.morganandyork.com because they do ship; product information and ordering instructions are on their site.

You know Ann Arbor, Michigan is a fantastic place to live, play, and discover. Here is a great community find: Morgan & York sells the good stuff - fine wines, and premium quality breads, cheeses, meats and more, all within walking distance of the Ann Arbor Woods subdivision, and a stone's throw from the Burns Park neighborhood.

You'll find a friendly atmosphere and a deep commitment to quality. The owners worked together years ago at Ann Arbor's first coffee house, so you can bet they also serve up a super cup of coffee too.

For a look at the charities they support, look at fellow actve rain Welcome Wagon blog http://activerain.com/blogsview/715833/shopping-and-helping-local-organizations-at-the-same-time-

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The Dexter Real Estate Market still shows an abundance of inventory. These charts show the difference between the number of homes listed in a price range and the number of sales in that price range. For all price brackets, there are more listings than sales in June. For July, the $600-650K had more sales, and the $1milion - $2million had equal listings and sales. That can happen because the house was under contract from a previous listing. See the charts for Dexter Real Estate June and July 2009 Price Distribution.

Both charts indicate that the segment of the market that is selling are those homes under $200,000. In July, and June, this lower end market accounts for a predominant market share. For more detail on Dexter Real Estate, we have and will be posting more Dexter Real Estate absorption data derived from the Ann Arbor Board of REALTORS®.

Click here to search all listings in Michigan with pictures and tours - FREE!

Click here to search all Ann Arbor area Michigan homes
and condos with pictures and tours - FREE!

Kathy Toth and Team

www.KathyToth.com

Keller Williams Realty