Purchasing a home is one of the most important steps that you will take in your lifetime.Besides being one of the largest financial investments that you may ever make, today it has easily become one of the most complex.Entering into a Buyer Agency Contract will be the first and most important step that you will take in the home buying process.
Michigan law requires real estate licensees who are acting as agents of sellers or buyers of real property to advise the potential sellers or buyers with whom they work of the nature of their agency relationship.
A buyer’s agent, under the buyer agency agreement with the buyer, acts solely on behalf of the buyer.The buyer’s agent will have a fiduciary responsibility to negotiate on your behalf.Working with a buyer agent is beneficial for so many reasons.
Your buyer’s agents will provide help and support throughout the entire process.
Buying or selling a home requires numerous disclosure forms, inspection reports, mortgage documents, deeds and so much more.An experiences real estate professional will have the expertise to walk you through the home buying process.
Your buyer agent can provide important information on each property that you are interested in learning more about.They can also provide crucial local community information on utilities, zoning and more.You can’t find everything on the internet; let your Realtor lead the way!
Benefit from your buyer’s agent negotiating experience.There will be many factors involved in your real estate transaction including but not limited to price, date of possession, possible repairs or concessions, financing or furnishings.Your buyer agent can advise you as to what’s worth negotiating.
Your buyer agent can speak the language.Odds are you don’t know the difference between a CTS status from a PUD.You can understand why it’s important to enter into a Buyer Agency Contract with your real estate professional who is immersed in the industry.
Most people only buy and sell real estate a few times in their entire lifetime.Your buyer agent spends every single day in the real estate business and is up to date on recent laws and possible regulation changes.Realtors handle hundreds of real estate transactions over the course of their career.Working with an expert in the industry is crucial.
Most often Realtor compensation is at the expense of the seller.
THIS IS THE BEST TIME TO PURCHASE YOUR FIRST HOME!
A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.Time is running out!
Top 5 frequently asked questions about the First Time Home Buyer Tax Credit:
1) Who is eligible to claim the tax credit?First-time home buyers who purchase any kind of home are eligible for the tax credit.It’s important to know that the home purchase must occur on or after January 1, 2009 and before December 1, 2009.The purchase date is the date when the closing occurs and the title to the property transfers to the home owner.
2) What is the definition of a first-time home buyer?The law defines “first-time home buyer” as a buyer who has not owned a principle residence during the three-year period prior to the purchase.For married taxpayers, the law will look into the history of both home buyer and his/her spouse.
3) How is the amount of the tax credit determined?The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8000.
4) Are there any income limits for claiming the tax credit?Yes, there are.The income limit for a single taxpayer is $75,000.For married tax payers filing a joint return, the income limit is $150,000.
5) What types of homes will qualify for the tax credit?Any home that will be used as a principle residence will qualify for the credit.This includes attached homes like townhouses and condominiums; single-family detached home, manufactured homes, and even houseboats.Keep in mind that you cannot purchase a home from any ancestors (parents, grandparents) or lineal descendants (children, grandchildren, or your spouse.
Contact you tax advisor or your local mortgage lender for more information.
The count down begins as University of Michigan Football season is upon us here in Ann Arbor, MI!The new renovations at The Big House look sharp and Michigan fans are prepared for a fantastic football season.
Recently celebrating its 90th Birthday, the Ann Arbor Farmers Market is approaching a bountiful harvest season! Located in the Historic Kerrytown district, The Farmer Market runs every Wednesday and Saturday from 7 a.m. to 3 p.m. (8 a.m. to 3 p.m. May thru December). With over 150 vendors who offer everything from baked goods, meats, plants, perennials/annuals, locally grown fruits and vegetables, honey, maple syrup and lovely crafts, this market is a cornerstone of Ann Arbor City’s ever growing community.
Think locally
Many of us have never been to a Farmers Market and think that it may not be affordable.With limited budgets, it’s hard to justify any extra costs.Besides, there is always a great sale at our local grocery store. However, the truth is local produce is not always more expensive. Often times, you can find competitively priced foods at your local Farmers Market. When you support your local farmer, you are contributing to your local community.Often times the foods tastes better and guess what, it’s better for you! The produce ripens on the vine, not in the supermarket.It is also picked within the correct season and provides a freshness that large super markets simply cannot compete with. Even better, your dollars go directly into the farmers pocket and keeps money in the local economy.
This is a gorgeous time of the year to take advantage of what our local Farmers Market has to offer!
Are you interested in learning more about the local “Green Revolution?”
Did you know that Prudential Snyder & Company has more Certified EcoBrokers than any other local Real Estate Company?
Our Certified EcoBrokers join the movement of professionals pushing the real estate market toward energy efficient, sustainable, and healthier future in homes and buildings.
In our commitment to being the Local Innovation Leader, we at Prudential Snyder & Company would like to invite you to CLICK TO THE FUTURE of Real Estate!
It’s that time again!The Back to School excitement is in the air, and it’s a wonderful time to set the foundation for life-long habits. Here are our top five tips to create a successful routine for your child.Taking small steps to ensure a fantastic school year can last a lifetime!
Top 5 tips:
1) Create a proper work space for doing homework.TURN THE TV OFF.Be sure that the cell phone is tucked away in another room and that there are no temptations to listen to music.After a long summer, turning off all distractions may be a bit of a challenge.However, a quiet and uninterrupted study space is essential for your child’s success.
2) Commit at least one half hour per week to your local library.This is a fantastic time for you and your children to establish some quiet time together and an opportunity for your family to discuss your favorite works of literature.Ann Arbor has numerous libraries in the area, and the local Downtown Ann Arbor Library even offers FREE access to Rosetta Stone.Why not learn a new language?
3) Always ask if your children if they need help with their homework, even if they don’t ask.This can open up important dialogue for any underlying issues with certain subjects.Their attitude toward education will make or break their study habits early on in academics.It’s important to make sure that they are confident in the classroom, and if they need assistance be sure to turn to a professional tutor. Tutor Time is an excellent local tutoring service.
4) Its never too early to teach your child how to organize their time.Give them ideas on how to manage their daily school related activities and extra curricular activities.Setting a schedule can create a sense of confidence in your child.Never underestimate the power of preparation and planning.
5) Breakfast is still the most important meal of the day!Even if it’s something as simple as a banana or a granola bar, creating a habit of eating first thing in the morning will ensure a healthier child who can hold concentration through out the busy school morning. The entire day can be quickly thrown off by skipping breakfast in the morning, be sure to make time!
Burns Park remains one of Ann Arbor’s most desirable neighborhoods and boasts gorgeous artisan homes, many with the original woodwork and tall ceilings. The Northeast part of Burns Park includes Ives Woods, which has one of the highest median incomes in the city. With a fantastic location close to The University of Michigan campus, Burns Park is close to just about everything in the Downtown Ann Arbor area. Named after Professor George Burns who was the Ann Arbor Commissioner, at one time Burns Park included the trolley barns at the park. In 1925, the barns burned down and Tappan Junior High was built, later becoming Burns Park Elementary school. Walk to the acclaimed Ann Arbor Art Fair every July, Downtown Ann Arbor, local schools and the famous University of Michigan Football Stadium. Ann Arbor Public Schools include: Burns Park Elementary School, Tappan Middle School, and while most students attend Pioneer High School some also attend Huron High School.
The University of Michigan Football Stadium
RESIDENTIAL SALES – BURNS PARK SCHOOL DISTRICT
Housing Market Trends
The first six months ending June, 2009 were also very encouraging in the Burns Park School District. The average sale price in 2009 is down only 3% from 2008 to $ 406,644. This is after a 5% decline from 2007.
The annual Townie Street Party kicks off tonight in celebration of the renowned Ann Arbor Art Fair! Come party with the locals and enjoy:
FREE ONSTAGE PERFORMANCES: featuring Bill Kirchen and the Hammerof the Honky Tonk Gods feat. George Bedard as well as Third Coast Kings and Michael Smith and his Cadillac Cowboys!
KIDS ART FAIR: selected young artists show off their talents and offer their artwork for sale.
CREATIVE CONNECTIONS: Showcase of local arts and cultural organizations.
KIDS ARTZONE: provides free “make and take” activities for young children and their families.
TOWNIE GRUB: local vendors show off the gourmet foods that only Downtown Ann Arbor can offer!
What: Kickoff party for Ann Arbor Art Fairs week.
When: From 5 to 9:30 p.m. Monday.
Where: At a new location under the big tents on North University Avenue in front of Hill Auditorium and around the fountain on Ingalls Mall.
How much: Free. Parking (not free) in the nearby Thayer deck.
Prudential Snyder & Company is the leader of real estate technology in Washtenaw County and continues to innovate the fundamental shift in real estate services. Understanding consumer behavior is the cornerstone to online success and we offer immediate exposure to the most widely-visited real estate websites on the Internet.
We continue to invest in technological advances and are committed to providing the very best service to our clients. While many companies are cutting back on online services, we continue to pioneer the real estate industry with services such as mobile search applications and the exclusive Online Seller Advantage. Choose Prudential Snyder and Company for the best Ann Arbor Realtors!