Notes From Nancy Fall, 2011

What happened to summer? Two-thirds of 2011 is gone, like a whirlwind. Time to update you on the latest in the real estate world (and a little of my world).

The good news is that prices seem to be stabilizing. In some areas, they are climbing. No, they aren’t shooting up like fireworks, but the signs are encouraging. In addition, inventory is shrinking. In many cases when a property comes on the market there are multiple offers, which ultimately pushes prices up.. That’s good news for the sellers, but is a warning to buyers that the time to buy is now. Times are changing and that’s a good thing.

Some of the houses I have sold this year include: In Canton: Vineway, Addison, Hunters Circle, Oakview; Newport and Deer Ct. in Plymouth; Sycamore, Merrilyn Ct., Mulberry, Juniper, and Hillside, in Farmington Hills. My current listings include: in Plymouth: Elmhurst, Newport, and Junction; Brookfield in Livonia; Lowell in Canton, Lake Success in Northville and Staman Circle in Farmington Hills.

I f you would like specific information about the market in your area just drop me an email with your zip code and I’ll send you the information about what’s happening in that zip code.

Senior Notes: According to a recent survey of amenities seniors desire when they decide to relocate, you would think they would want to move to a condominium or adult community. Wrong. The majority surveyed stated they want a one-story, single-family home, but within 20 miles of their current residence and reasonably close to family. They want their home to be a fun place that will be an attractive gatherine place for their children and grandchildren, like a mini-resort. They also want to be near shopping, church and medical facilities. Amenities such as high-speed internet service and smart-home technologies that promote communication, safety and security were also high on their list.

Personal Notes: This summer, my son and daughter-in-law blessed me with twin grandchildren!!! What a pleasure! A boy and a girl, weighing in at 7 lbs. 9 oz. and 6 lbs, 13 oz. My new granddaughter looks like her mom and my new grandson looks like his dad. Isn’t that the way it should be? In other parts of my family, I have a grandson who started college and one who started high-school. How did they grow up that fast?

Miscellaneous Notes: Tidbits about Michigan: Did you know that the city of Novi was named from it’s designation as Stagecoach Stop #6 or No.VI. Also, Michigan is the only place in the world with a floating post office … the J.W. Westcott II is the only boat in the world that delivers mail to ships.

A Final Note Till Next Month: Watch for my monthly column, Senior Living, in the Observer Newspapers on the Real Estate pages contained in the Sports section.
Visit Nancy’s Canton MI real estate website

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Notes from Nancy

The tax season is upon us. None of us relish tax preparation whether you do it yourself or take them to an accountant. But, the reality is that we have to face the cold facts of tax preparation. Either way, if you purchased or sold a house in 2010, certain costs associated with the transaction may be deductible. Take a copy of your HUD statement to your preparer. Interest paid ahead at closing should be deductible. The only place that amount will appear is on the HUD statement. If you don’t have your statement, I should have a copy in your file. If you sold your house, costs associated with preparing the house for sale may also be deductible. It’s best to speak with a professional.
You may be eligible for a refund of the transfer tax on the sale. If the sales price was less than what you paid for it at time of purchase, you may be eligible for a refund if you meet the other qualifications. Contact me and I can figure it out for you. I will need to know what you paid when you bought your home and in what year it was purchased.
I keep your file long after you have purchased or sold. But when I no longer need it, I use a shredder. No one, therefore will ever see your social security number or other sensitive material.
Realtors© in Michigan are working with legislators to decrease the overall tax burden on Michigan citizens and also to simplify the tax code. Other key issues include the elimination of the Michigan Business Tax, and also Property Tax Reform working within the framework of Proposal A, the Headlee amendment.
Notes: If you or your parents are thinking about downsizing, a booklet, Alternatives for Seniors, may be helpful. It includes listings for a variety of retirement facilities, some of which I have visited. These include active adult communities, which offer attached and detached condos, independent retirement living, assisted living, senior condo communities, Alzheimer’s facilities (sometimes included in multi-level care communities), small group homes, and subsidized senior apartments to name a few. I will be happy to mail this to you.
Periodically, I participate in Senior Living seminars at various locations in the area. So far, one is scheduled in conjunction with Waltonwood at Carriage Park for 1:00 p.m. April 28 at the Summit on the Park in Canton. The other is an informational open house from noon until 3 p.m. at Waltonwood 12 Oaks. All are invited. For further information contact me at 734-718-8900. Seminars include experts in the field of retirement living facilities, real estate, elderlaw, veterans benefits for seniors, and health care.
Personal Notes:Very, very happy family news. I am going to be a grandmother of twins! I can hardly believe it as there are no twins in the family. We don’t know yet if they are fraternal or identical. Babies due date is August 5. My son and daughter-in-law call the babies their “little newcomers.” So far, all is well and we continue to pray for a great pregnancy and delivery. Stay tuned …
Also, I will be writing a column on Senior Living, which will appear in the Observer and Eccentric Newspaper. I’m very excited about it and invite you to look for the first publication – date not yet determined.
More next month.

Oh , by the way, in the next two weeks you will know of friends, neighbors, or coworkers who are looking to sell or buy a home or need a mortgage.
Be sure to tell them about your experience working with me and call me right away with their phone numbers so that I can help them, too.’

Nancy Austin
GRI, ABR, SRES
Keller Williams Realty
phone: (734)718-8900
cell: (734)718-8900
fax: (734)585-3279
tollfree:
nancyaustin@gmail.com

www.nancyaustin.com
Assisted Real Estate.

Tagged as: Nancy Austin, Senior Living

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Botsford Commons Condos 21295 Juniper Ct Available

New Listing in Botsford Commons Condos for sale.  21295 Juniper Ct., Farmington Hills,  MI  48336

All on one floor. Barrier-free. Botsford Commons is a 50+ community. Soft, neutral decor. Wood-like floors throughout except baths. Plentiful oak cabinetry in kitchen. Built in oven, range, and microwave. Table space plus formal dining area open to the Great Room with tray ceiling. Generous Master Suite with walk in closet and master bath. Walk-in shower in the main bath adjacent to the second bedroom. Pretty court location. Security patrol 24/7. Medical options. Commons bldg includes pool, dining rm, library, etc. Home warranty. Call re: pets. All appliances stay.

Contact Nancy Austin:  734-718-7800

MLS #: 3009851 List Price: $119,900 Year Built: 1995
Address: 21295 Juniper Ct. Elem. School: Farmington
City: Farmington Hills Junior High: Farmington
Zip Code: 48336-4100 High School: Farmington
Square Feet: 1303 # Bedrooms: 2 Basement: SLA
Lot Size: # Full Baths: 2 Construction: BRI, BKW
Garage: 1C, ATT, DOR, ELE # Half Baths: 0 Association Dues: 346
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Tagged as: Botsford Commons, Farmington Hills Michigan, Nancy Austin, Senior Living

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Short Sales and the Banks

Nancy Austin There’s going to be a revolution. There are 180,000 people waiting to close on short sales. Banks are not moving quickly enough to close by the June 30 deadline. It turns out that Congress hasn’t fully approved the extension of that deadline. Does anyone remember how revered the banks used to be? Does anyone wonder why they aren’t anymore?

Tagged as: Short Sale

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BOTSFORD COMMONS CONDOS FARMINGTON HILLS – Senior Living at it’s Best

[EDIT]

As Nancy Austin’s assistant, I wanted to share my experience as I strolled through Botsford Commons.

I am over 50 and I viewed this complex as if I might move there.  It didn’t take me long to fall in love with this comfortable and most importantly QUIET atmosphere.  I strolled down the winding road that circled the clubhouse.  I would breathe in deeply and take in all the nature around me.  Am I in a city??  Surely I must be in the country.  It’s this fragrant pocket of sunshine, trees, and life.

So what is life like here, I ask myself.  I’m decide to peek in on one of the condos that recently sold.  I walked into a lovely home with neutral colors, 2 bedrooms, 2 full baths, a fireplace and my own deck to sit quietly drink my coffee in the morning!!  Discreetly Included in the condo are:

  1. No steps at the entrance door so you do not have to step up or anywhere
  2. unless there is a basement. Some units have basements.
  3. Pull cords in case of emergency
  4. Security 24 hours
  5. Bathtub with built in seat and grab bars
  6. Walk-in shower with built in grab bars
  7. Attached garage

Additional amenities offered on the premises in addition to the wonderful condos are:      Clubhouse with indoor pool, dining room, movie theater, library, crafts.Also included for residents are day trips, health-care options, independent-living apartments, physical therapy, cardiac rehabilitation  and  other professional services should the resident need to be transferred to assisted living or the Alzheimer’s Unit.

This year eight of the condos sold and only one remains for sale.!!! Most of the condos are two bedroom but a few are three bedroom.

As I got in my car to leave, I took one more ride around the circle and said: ”I could definitely live here!!”

Buyer Information Request

First Name *
Last Name *
E-mail Address *
Phone Number *
Property Type:  Residential Income Condo Vacant Land
Search Area:
Bedrooms:
Bathrooms:
Minimum Square Feet:
Comments:
Timeframe:  LESS than 6 months MORE than 6 months
Home Buyer's Guide:  FREE Buyer's Guide

Tagged as: Senior Living

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First Time Home Buyers Tax Credit Extended

Congress has extended and expanded the homebuyer tax credit.  The Modifications in column labeled “December 1 – April 30, 2010″ become effective when president Obama signs the bill.  All Changes made to the current credit become effective on that date, as well.  Source: NAR Issue Brief Homebuyer Tax Credit Changes
Features enacted February 2009 December 1 – April 30, 2010 Rules as enacted November 2009
First time
Buyer – Amount of Credit		 ($4000 married filing separate) $8,000 ($4,000 married filing separate)
First time Buyer – Definition for Eligibility May not have had an interest in a principal residence for 3 years prior to purchase Same
Current Homeowner – Amount of Credit No Provision $6,500 ($3,250 married filing separate)
Effective Date – Current Owner No Provision Date of Enactment
Current Homeowner – Definition for Eligibility No Provision Must have used the home sold or being sold as a

principal residence consecutively for 5 of the

previous 8 years
Termination of Credit Purchases after November 30, 2009

(becomes April 30, 2010 on Date of Enactment.

 Purchases after April 30, 2010
Binding Contract Rule None So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Income Limits (Note: Increased income limits are effective as of date of enactment of bill) $75,000 – single$150,000-married

Additional $20,000 phase out

 $125,000 – Single

$225,000 – married

Additional $20,000 phase out
Limitation on Cost of Purchased Home None $800,000

Effective Date of Enactment
Purchase by a Dependent No Provision Ineligible

Effective Date of Enactment
Anti fraud Rule None Purchaser must attache

documentation of purchase to tax return

For more information about Plymouth Canton area real estate, Contact Nancy Austin

Buyer Information Request

First Name *
Last Name *
E-mail Address *
Phone Number *
Property Type:  Residential Income Condo Vacant Land
Search Area:
Bedrooms:
Bathrooms:
Minimum Square Feet:
Comments:
Timeframe:  LESS than 6 months MORE than 6 months
Home Buyer's Guide:  FREE Buyer's Guide

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Botsford Commons Condos in Farmington MI

Clubhouse at Botsford Commons has an Indoor Pool, Dining Room and more.

Botsford Health Care Continuum designed and developed a community with the priorities of older adults in mind. This community considers your preferences for service, style and choice. This, combined with our in-depth experience and commitment to excellence, forged the vision of the Botsford Commons Senior Community.

A vision of aging that emphasizes respect, dignity, potential and independence provides the cornerstone of the Botsford Commons Senior Community. Recognizing that older adults have needs for different support and services at different times, ranging from exercise classes to extended care, Botsford has established within this community three distinct residential alternatives:

* Condominiums and Apartments
* Assisted Living
* Skilled Nursing

Current condominium listings in Botsford Commons:


Tagged as: Botsford Commons, Farmington Hills Michigan, Senior Living

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First Time Home Buyer Credit Extended, Expanded-Update

Here is the latest update to the legislation extending the home buyers tax credit.

The extension was approved by the House of Representatives yesterday afternoon and could be voted on by the Senate as early as Wednesday. Once approved by the Senate, it goes back to the House for final approval and then to the President to sign.

A recap of the extension is below:

The Extended and Expanded Tax Credit agreement includes the following provisions:

Amount: $8,000

Who: First-time Homebuyers — same definition as current law

Amount: $6,500

Who: Repeat purchaser. They must have used a previous home as a principal residence for 5 of the 8 previous years.

$125,000 for single filers/$225,000 for joint filers. Same for both first-time and repeat/move-up buyers  Purshased home: $800,000

Buyer Information Request

First Name *
Last Name *
E-mail Address *
Phone Number *
Property Type:  Residential Income Condo Vacant Land
Search Area:
Bedrooms:
Bathrooms:
Minimum Square Feet:
Comments:
Timeframe:  LESS than 6 months MORE than 6 months
Home Buyer's Guide:  FREE Buyer's Guide

Tagged as: First time home buyer, tax credit

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