If you are having trouble with your house payments, don’t give up and assume you have to go to foreclosure.  See video below: 

200 N. Main St., Suite 200
Ann Arbor, MI 48107
Phone: 734-222-6600
Fax: 734-222-6632

If a work out is not available, and if short sales are the best option for you, then we can help you move in that direction.  Short sales are where the borrower shorts the bank the full amount owed and the debt is discharged. Let’s explore the possibility of a short sale for your property, avoid foreclosure, and potentially save your credit rating.

You need an experienced agent to assist you.  This is no time to fool around.  Don’t hire any REALTOR.  Like anything, hire experience.  There is no replacement for success and results.  We are aligned with experts including Ron Garber, Indy Mac Consultant, to get your home pre-approved.  What that means is we work quickly to get a response from the loss mitigator to give us their bottom line for acceptance.  The bank gets the house off their books, the seller does not go to foreclosure and the buyer gets a deal. Be sure to ask your agent, “How many short sales have you closed?  How many short sales that you listed have not closed?”

Life is not all lemonade, so let’s try to take the lemons you have and make some lemonade.  If you know someone who wants to buy distressed homes; these are updated weekly.  

Ann Arbor was recently named number seven on a list of best digital cities (Pop. 75,000 to 124,999) by e.Repulic’s Center for Digital Government and Digital Communities Magazine.  Awards go to the cities that use technology to create a seamless environment between local government and constituents.  The city was ranked for its online services (at city website www.a2gov.org) including:

TRAKiT - featuring online access to development reviews and building inspections

GovDelivery - an email notification service providing information about road or lane closures, general news and other notables

Citizen Request System - a tool allowing citizens to request city repairs such as parks maintenance, pothole and street light repair. 

The cities placing in Ann Arbor’s population category were:

• 1st City of Roanoke, VA
• 2nd City of Independence, MO
• 2nd City of West Palm Beach, FL
• 3rd City of Richardson, TX
• 3rd City of Santa Monica, CA
• 4th City of Arvada, CO
• 5th City of Orem, UT
• 6th City of Lawrence, KS
• 7th City of Ann Arbor, MI
• 7th City of Westminster, CO
• 8th City of Boulder, CO
• 9th City of Lee’s Summit, MO
• 10th City of Pueblo, CO

According to the Executive Director for Digital Government, Cathilea Robinett,”Cities are incorporating newer technologies such as Webcasting, podcasts and blogs while continuing to use IT to enhance delivery options for citizens and businesses.”  This is good news considering budgetary challenges.

FREE MLS Search - View Current Homes for Sale Search the local Ann Arbor MLS and find the homes for sale in your desired area. Stop looking through 3 different papers, get the whole Ann Arbor homes list here for FREE. Plus receive daily updates via email, for any new listings. All for FREE - no strings attached!

Find Out  the Value of Your Ann Arbor Home Get an over the net estimate of how much your Ann Arbor home is worth - FREE! We search the local MLS, along with data the public does not have access to, and find out how much your home is worth in current market conditions.

Recently the City of Ann Arbor chipped in $300,000 to aid in the merger between Avalon Housing and the Washtenaw Affordable Housing Corp (WAHC).  Avalon Housing will take over all WAHC properties and their debt which is estimated to be $3.7 million.  While most single and multi-family units will be retained, some properties will be sold off to help pay down the debt.  Many of the existing units are in foreclosure and need repair or renovation. 

Since the City of Ann Arbor Housing Trust Fund is currently short the funds needed to assist Avalon, they will be tapping the general fund to make a loan.  Ann Arbor’s Housing Trust Fund will be replenished soon when several private development projects move forward.  Often times private real estate developers will opt to write the city a check instead of providing lower-income units where special zoning is considered.  Since the general fund is currently above proposed levels, there is enough surplus for the loan to be granted.

WAHC has received over $100,000 in federal grants monies over the years to help maintain its affordable housing units.  If any of the units that received funds were to be sold, those funds would need to be repaid.  The merger plan will only target selling units that are not susceptible. 

Avalon Housing currently manages 180 units and has been providing Ann Arbor Affordable Housing for 16 years.

FREE MLS Search - View Current Homes for Sale Search the local Ann Arbor MLS and find the homes for sale in your desired area. Stop looking through 3 different papers, get the whole Ann Arbor homes list here for FREE. Plus receive daily updates via email, for any new listings. All for FREE - no strings attached!

Find Out  the Value of Your Ann Arbor Home Get an over the net estimate of how much your Ann Arbor home is worth - FREE! We search the local MLS, along with data the public does not have access to, and find out how much your home is worth in current market conditions.

 Kathy Toth and Team
www.KathyToth.com
Keller Williams Realty