Landscaping is important for many reasons.

An unkept lawn may signal that no one is home. It is like placing a billboard on your front yard inviting those you really don’t want to invite.

Landscaping says “We care about our property and you should too.”

I took this picture at the McDonalds drive thru. The well manicured lawn with the pond and the fountain tells me that after spending millions of dollars on research and development, they feel it is important for those who drive thru for a $1.00 hamburger to have pleasant surroundings. That also tells me they are concerned about the quality of the product they are selling.

This also holds true for the sale of your home. If your lawn is attractive and well maintained, it gives a buyer confidence that your home has been well attended to.

If McDonalds feels a well manicured lawn is important for selling hamburgers, think of how important it is for selling your home!

Sometime ago I wrote about a nice surprise I had finding some unwanted daylilies. Here are some of the results of my find. Daylilies are easy to grow- great for difficult areas in the lawn. They are a maintenance free way to make any lawn look better.

Sometime ago I wrote about a nice surprise I had finding some unwanted daylilies. Here are some of the results of my find. Daylilies are easy to grow- great for difficult areas in the lawn. They are a maintenance free way to make any lawn look better.

You have found your dream piece of lakefront property. You are already imaging yourself sitting on your deck overlooking the water. Now what are you going to do? Who are you going to call?

The best way to find your builder is by referral. Talk with someone you know who has had a good experience with a builder and make sure they were satisfied and had no surprises. The work was done on time, within budget and was completed to their expectations.

You could also call local lumber companies and ask for a referral or two. They know the builders and work with them on a daily basis. Consider making an inquiry at the local homebuilder associations and ask for a referral. If you are unsure what questions to ask a builder, the association may be able to tell you what things to watch out for. Most quality builders are members of an association, staying on top of trends in the industry.

As you talk with different builders, ask them for references. A good builder will have references and will be happy to provide them for you. Then call the references, often people do not call the references and this is a mistake.

Always ask for a written detailed quote. This quote will be based on the information you have given them regarding your specific wants and needs . When comparing quotes from different builders, make sure they are quoting the same work. Beware of any builder unwilling to provide a written quote. To prepare a quote will take a builder some time. Some builders will charge a fee for their bid. Many will credit the fee to the price of the building job, if they are awarded the contract.

As with any business, anyone who is good at what they do will be busy. I would rather wait for just the right builder than to work with someone who can start tomorrow.

Lastly, never be in a hurry, do not let yourself be pressured and take your time. A lakefront home is well worth the wait.

You finally made the decision. You are going to sell your home! How are you going do it?

The best way to find an agent is by referral. Someone you know who had a good experience is the best place to start, but you still have to do your homework and talk with the agent yourself. Some things you will want to discuss with the agent and questions you will want to ask are:
How will my property be marketed?

Will there be open houses, ads in area newspapers, virtual tours on the internet?
If an ad is run in area papers, how often will the ad be run?How big will it be?

How long has the agent been in real estate? What did he/she do prior to becoming an agent? Is the agent full time or part time?

Have the agent describe the type of real estate he/she specializes in. If the area of specialty is homes, make sure the agent is familiar with the area where your home is located.

Ask for references from clients whose homes the agent has sold. Ask for references from another sales agent who works with your prospective agent.

Make sure you know what fees the agent charges before listing your home Sit down and talk with the agent. Do you feel comfortable with him/her? You may be working with this person for some time, so you want to make sure there is a level of trust and mutual respect.

With all the news about the foreclosure crisis, you are probably thinking it may be time to pick up a quick property or two.

When you think of a lender and all the advertising that you see, you would believe them to be very professional and detailed. If you have been through the loan application and approval process, that would be confirmed to you by their actions. After all, their business is lending money and they have been successful at that. You would think they would have a very detailed plan as to how to liquidate a property that would come back to them. They don’t.

Over the years, we have purchased many bank repos. It has never been an easy process, in fact it seems to be getting more difficult. Banks are not the cooperative sellers that you would expect them to be. If fact, in some cases, the are not even very respectful or courteous.

You can spot the foreclosure property from quite a distance. They are the ones that need the lawn cut. Your eyes will be drawn to the warning sign in the front door or the window. They can be filled with trash and sometimes smell quite bad.

The price on the property was probably determined by someone in an office halfway across the country who has never seen the property, knows nothing about it or the area in which it is located. The bank typically hires a real estate salesperson from the area to do a B.P.O. (Broker Price Opinion) on the property. Generally, this is a broker or salesperson riding by the property, not touring the property, and then giving their opinion as to what the property would sell for on the open market.

Making an offer on the property is an experience in itself. The lender typically requires their own set of forms to be used, forms prepared by a corporate attorney and slanting the favor to the bank. Proof of funds or a loan approval is often required by the lender.

Upon making the offer, the lender may not respond quickly as you would like. It could take weeks before you have any idea if they will accept, counter or ignore your offer. They may claim to be short staffed or over worked. They do need more help.

I have seen buyers become very frustrated with the lender and walk away prior to receiving an answer to their offer. Many times, I have seen lenders reject an offer on property only to later sell the property for far less to someone else. It makes no sense. In my opinion, banks should enroll in a course on “How to Market Real Estate”

More coming later on foreclosures.

Weeds remind me of taxes. They pop up in places you least expect them. You can not do much about them. They keep coming back, no matter what you do to prevent them.

The Michigan Real Estate Transfer Tax (SRETT) is an example of such a tax. The seller pays to the State of Michigan a transfer tax of the property at the time the deed is granted. The tax is at the rate of $7.50 per thousand of sale price. For example, if the selling price of a property is $41,500.00, the tax due to the State of Michigan.

Each Michigan county also charges a County Real Estate Transfer Tax (CRETT) at the time of transfer of deed. The rate varies by county, but the average is $1.10 per thousand dollars of sale price. So, in our example the seller would also pay a tax of $45.65

Honestly, weeds are something we don’t care to see, but unlike taxes, they can sometimes be interesting to look at.

Recently I wrote an article on Warranty Deeds. Another type of deed is the quitclaim deed.

As you may recall, a warranty deed is a document that conveys (warranties) the grantor’s (sellers) interest in a piece of real estate to another person.

On the other hand, a quitclaim deed disclaims any interest the grantor may or may not have in a piece of real estate to another party.

Quitclaim deeds are often used to clear up title defects that a property may have. They are often used to transfer interest in real estate from one family member or spouse to another.

Another common use of the quitclaim deed is a tax deed which governing authorities use when they sell real estate seized for non payment of real estate taxes.

The quitclaim deed doesn’t release the grantor of the quitclaim deed from any liabity or obligation they may have from any mortgage or secured lien secured on the property.

A quitclaim is not a quick claim deed, there is no such thing as a quick claim deed.

As with all real estate transactions, order a Survey and Title Insurance.

When selling or buying real estate, there are fees or costs involved. It is very easy to overlook or forget about the costs involved until it is time to sign the final papers.

Just so you are not surprised at the time of closing, I made a list of potential fees that may be involved. Different types of transactions or financing may involve different types of fees. The amount of the sale or the purchase price may also affect the amount of the fee that is involved.

Expenses could include but not be limited to:

• Taxes, which could include: current, past due, prorated due to the city or township, county, state and school.
• Property assessments, including due, pending or past due.
• Payoffs of first, second mortgages oother type of debt.
• Real Estate Commissions
• Attorney fees
• Notary fees
• Survey expenses
• Pest Inspections
• Building inspections
• Title insurance fees
• Document preparation fees.
• Fees associated with lender required escrows for hazard insurance, mortgage insurance, city or township, county taxes annual assessments

Other lender costs could include fees for a credit report, loan processing fees, application fees, lender inspection fees, appraisal, loan discounts or points, loan origination fees.

As you can see, it is important to always ask for an estimate of all closing costs and always ask about anything you do not understand.

Something no one wants to talk about-what to do with Grandpa and Grandma’s lakefront cottage.

Some family members want to sell it and divide the proceeds among the heirs. Others love it with all the memories and can’t bear the thought of parting with it. Without careful planning, you can imagine the problems that could arise.

A friend recently recommended the book: Saving the Family Cottage and the Author’s Website Rather me than giving you a book review, check it out for yourself. It is full of good information and well worth the time!

Something no one wants to talk about-what to do with Grandpa and Grandma’s lakefront cottage.

Some family members want to sell it and divide the proceeds among the heirs. Others love it with all the memories and can’t bear the thought of parting with it. Without careful planning, you can imagine the problems that could arise.

A friend recently recommended the book: Saving the Family Cottage and the Author’s Website Rather me than giving you a book review, check it out for yourself. It is full of good information and well worth the time!

Renting a lakefront cottage is an fun and relaxing way to spend a vacation. A cottage can be more affordable than a motel or hotel and offers more flexibility and privacy.

Michigan cottages come in all shapes, sizes locations, ages and prices. Everything is available from a one room cabin to deluxe year around homes with all the amenities. It is best to determine your needs and desires before you begin your search.

For many of us, cost is a big consideration when planning a vacation. Before renting a cottage, it is wise to determine how much you are willing to spend on the entire vacation. From that amount, subtract transportation costs, food and entertainment. The amount left is the price range you should be looking for when cottage hunting.

Asking yourself a few more questions before beginning your search will determine where, what and how to search.

How far are you willing to travel?

Do you want to stay directly on the waterfront, or would water access be acceptable to you?

What type of water activities are you looking for? Fishing, swimming or all sports?

Are you looking for a secluded location, or do you love meeting new people?

Do you need cable or internet access, a television, cell phone coverage? Or, do you want to get away from it all in a place where no one can reach you and there is no television to disturb your peace and quiet?

Do you want to be able to run to a nearby town for a quick burger?

If the weather is cold or rainy, do you have a back up plan?

A great vacation starts with good, well thought out planning. When you have answered these questions you are ready to begin you search.

After renting a number of waterfront cottages, we have prepared a list of what too ask. Watch our future posts