What is an earnest money deposit and what role does it play in a real estate transaction?
We’ll be tackling this question today.
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There Are Signs of a Shift in the Michigan Housing Market
How is the housing market looking in Michigan? See what this fall holds.
Want to Buy a Home? Search All Homes
Want to Sell a Home? Get a Home Value Report
As real estate and its prices are always changing, it’s always a good idea to keep up to date. So today, we’ll bring you the fall market update for the Michigan area.
There are more single-family homes coming on the market, up 8.9% from 358 to 390 year to year. The number of year-to-year sales is down 18.1% from 315 to 258. However, the average sales price is up to $308,080 from last year’s $299,788—an increase of 2.8%. The average days on market has improved from 32 days last year to 25 days this year.
Things can change so gradually that many people do not notice. To see if shifts are occurring in the market, it’s important to watch for accurate data in your price range.
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Things can change so gradually that
many people do not notice.
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Sellers could be chasing prices down, so the question for many is if they should wait until spring to sell a house. It depends on what you think is going to happen in regard to elections, the economy, and interest rates.
What happens to prices when rates go up? There may be a relationship. According to the National Association of Realtors’ national media manager, if you have rising interest rates over a longer period, then you’ll see a weaker demand. In this case, you may see price appreciation slow down. Keep in mind, today’s interest rate for an adjustable mortgage is 4.25% and 5.15% for an annual percentage rate.
If you have any questions or would like some more information, feel free to give us a call at (866) 696-8447. We look forward to hearing from you.
4 Ways to Make Buyers Fall in Love With Your Home
Don’t wait to call your local Keller Williams agent.
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Want to Sell a Home? Get a Home Value Report
Are you ready to make a move? There are four ways to make buyers fall in love with your home so you can sell it quickly and for top dollar. First, make it move-in ready—think clean, organized, and clutter-free. Second, bring in some plants—greenery adds instant style. Third, up the “dream home” factor by highlighting any unique features. Lastly, call your local Keller Williams agent!
Radio Celebrities Brian Welch, 102.9 & Martin Bandyke, 107.1 join the Kathy Toth Team to wish all a safe and prosperous New Year
Whatever your goals may be, please let us know how we can support you in those goals. The Toth Team is looking forward to big changes and additions for this coming year. We strongly believe that 2018 will be the year we will look back upon as the year that resulted in a bigger life. Make 2018 your year by being present and living a purposeful life!
Check out the Toth Team Worldwide Network 2017 YEAR IN REVIEW. All of us at the Toth Team wish you a very Happy and Prosperous New Year.
Want to know what your home is worth check out our free Home Valuation Report.
Search for your new home at www.HomeSearchAnnArbor.com
Watch Live Stream of Bald Eagle Nest Near Ann Arbor, Michigan
Click play above to watch a live stream of a bald eagle nest with babies. This nest is located in a residential neighborhood near Ann Arbor, Michigan. The Bald Eagle is a bird of prey found throughout North America. It has been the national bird and national animal of the United States since 1782, and was an endangered species until recent conservation efforts were implemented. This video of a majestic creature in it’s natural habitat comes to you from the nest located nearly 105 feet high, near the top of a white pine tree.
Ann Arbor Real Estate for Sale: 2775 Manchester Road, Ann Arbor, MI
You could have a 40 acre park as a neighbor! This is a rare Ann Arbor Woods three bedroom and two bath home that backs to Buhr Park. There is beautiful original red oak flooring throughout, and a classic mid-century feel. The kitchen is currently being remolded with Quartz counter tops, (see sample at the home). The light filled family room with cathedral ceiling connects to a formal dining room.The large inviting living room features a gas fireplace, built in oak bookcase and a bay window. This home is heated efficiently with hot water heating, and central air for the summer months. The deck affords beautiful views of Buhr Park and the fenced backyard. Convenient built-in seating and shade from the hot western sun,makes this deck ready to go! A full basement with a walk out door, plenty of storage and huge basement workshop. The rain garden in front and rain barrels in rear of the home help the flower gardens that bloom through the seasons plus the organic veggie and fruit garden. This wonderful home is within walking distance to elementary and middle schools. Convenient location for shopping, restaurants and easy access to highways. This home is truly a gem in the Ann Arbor area real estate market!
This Home’s Seller Says
“Ann Arbor has top quality schools, over 100 parks, many cultural activities, lots of great jobs, many recreation and sporting offerings, tons of restaurants with many ethnic and price point choices.”
Buhr Park is “in our back yard”. Enjoy a pool, ice and roller rink, tennis five ball fields, kiddie playground, Cobblestone Farm events, Tuesday farm market, sledding hills or cross country skiing. We are located minutes from Briarwood – a regional mall. Walk to the elementary schools, middle school and Mallets Creek Library. There are dozens of restaurants near us too, how can I pick a few?
For shopping we have Trader Joe’s , Kroger and Meijer all conveniently located near us.
We love our home, and the outside is delightful. Our deck has beautiful views of the park and our yard. The built-in seating is shady and provides shelter from the warm western sun. Our gardens are beautiful. The rain garden, with rain barrels provide a credit on each water bill. The flower gardens bloom through the seasons, and an organic veggie and fruit garden will provide you with fresh food for your table.
Additional ANN ARBOR AREA REAL ESTATE Listings
Toth Team, Worldwide Network
Your Ann Arbor Real Estate Experts
Keller Williams Realty
Kathy Toth and Team are Washtenaw County, Michigan real estate experts who will guide home buyers and sellers through the entire real estate process. Our extensive knowledge of Washtenaw County areas, combined with decades of expertise in the local real estate market is extremely valuable to helping you achieve your goals. For quality service and personal attention during your real estate transaction, contact Kathy Toth and Team for all your home buying and selling needs.
We want to be your real estate agents!
The Toth Team’s Top 3 Most Recommended Books For Increasing Productivity, Growth, & Profit
When we are searching for an agent to sell or find the perfect home, we expect them to be knowledgeable of the market and to help us make the best decision possible. With the advancement of technology in today’s society we have the news right at our fingertips, but are we truly reading, or skimming over the facts? In the Wall Street Journal, “Skimming has become my brain’s default setting,” stated Cynthia Crossen, as she explained the difference between reading and skimming. Skimming is skipping over the main point to get to specific terms or concepts. This is a standard procedure that many of us do without noticing and one of the main reasons hard cover book sales have decreased.
Here at The Toth Team, we treasure the books that have taught us our values today and we would like to share our top three most recommended books for increasing productivity and growth. The Toth Team served 230 families in 2015 and we are on track to serve over 400 families THIS YEAR! Reading has several positive effects on our development and growth both inside and out of work. As we evolve and grow as a team, we must spend time discussing what has helped us grow and what has become an obstacle. We will focus on The Toth Team’s 3 favorite books: The One Thing, The 4 Disciplines of Execution, and the 5 Dysfunctions of a Team.
1. The One Thing
“What’s the ONE Thing you can do such that by doing it everything else will be easier or unnecessary?”
– Gary Keller
This quote is the one single question the entire book is written around. Gary Keller is the founder of Keller-Williams Real Estate and has taken the company to the top of their industry. He not only is a remarkable leader and innovator, but also an elite author who moves individuals with his facts and results. Gary Keller and Jay Papasan insist the key to success is not to make a list or analyze your possibilities, but rather to think of that ONE Thing that is the most important thing in your life. This ONE Thing is similar to a goal or objective that you are working so hard every day for. Now once you have identified your ONE Thing and focused your vision primary on it, you must distinguish the obstacles in your way and then determine how you will overcome each and every single one of them.
2. The 4 Disciplines of Execution
“Execution starts with focus”
– Jim Huling
Strategy is vital for every business to develop and perform effectively. Often times, individuals run into a conflict of interest and they lose focus on their strategy. Written by authors Chris McChesney, Sean Covey, and Jim Huling, these experts define and explain how learning four distinct disciplines can produce desired results. The four disciplines analyzed are the discipline of focus, the discipline of leverage, the discipline of engagement, and the discipline of accountability. The concept whirlwind is discussed and there are several solutions given on how to control and handle our massive amounts of energy. It’s important to remain calm and focus our energy on what is high priority and vital to accomplish for that day.
3. 5 Dysfunctions of a Team
“Successful teamwork is not about mastering subtle, sophisticated theories, but rather about combining common sense with uncommon levels of discipline and persistence. Ironically, teams succeed because they are exceedingly human. By acknowledging the imperfections of their humanity, members of functional teams overcome the natural tendencies that make teamwork so elusive.”
-Patrick Lencioni
It is a challenge to meet a group a strangers and the next moment call them your teammates. How do we learn to adjust to working in a team and managing it effectively? We must first recognize our five main problems with working in a group and then we must develop solutions to these. Patrick Lencioni is an American writer and lover of business management. He is famous for this book and the founder/president of the Table Group, a management consulting firm primarily focused on organizational/team health. He believes that the first step in a group is to reduce the misunderstanding and confusions by addressing the five most common dysfunctions individuals have: Absence of trust, fear of conflict, lack of commitment, avoidance of accountability, and inattention to results.
Would you like to join a team that truly CARES about your individual development and your success? Call The Toth Team today!
Toth Team, Worldwide Network
Your Ann Arbor Real Estate Experts
Keller Williams Realty
Kathy Toth and Team are Washtenaw County, Michigan real estate experts who will guide home buyers and sellers through the entire real estate process. Our extensive knowledge of Washtenaw County areas, combined with decades of expertise in the local real estate market is extremely valuable to helping you achieve your goals. For quality service and personal attention during your real estate transaction, contact Kathy Toth and Team for all your home buying and selling needs.
We Want to be your Real Estate Agents!
Sources:
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Crossen, C. (2011, October 17). Skimming vs. Reading. Retrieved February 02, 2016, from http://www.wsj.com/articles/SB10001424052970203914304576627182901819782
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Keller, G. (2013). The One Thing. London, UK: Hachette Book Group.
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McChesney, C., Covey, S., & Huling, J. (n.d.). The 4 disciplines of execution: Achieving your wildly important goals.
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Lencioni, P., & Okabayashi, K. (2008). The five dysfunctions of a team: An illustrated leadership fable. Singapore: John Wiley & Sons (Asia).
Most Expensive Homes Sold in Ann Arbor, Michigan in 2015
Last year we saw appreciation in many market segments. We would like to look back at what happened last year regarding Luxury Ann Arbor Real Estate. The whole market appreciated 3.3 percent – For complete detail on absorption rates click here! We must take the time to see what the agents have been up to in 2015. Let’s take a look at the top 5 most expensive homes sold in Ann Arbor, Michigan in 2015. For those homes $1.300,000 to $1400,000, there was only one sold at full price. For those homes above $1400,000, there is a 16 month supply. The three Ann Arbor luxury homes that sold were on the market for an average of 183 days.
- 215 N 5th Ave, Ann Arbor, MI 48104-1407 – $2,250,000
This luxurious home is the first of our top 5 most expensive homes sold in Ann Arbor, MI. Ann Arbor is know for great, authentic homes filled with warmth and joy. This beautiful 2 bedroom, 3 bath home was built only four years ago in 2012 so it maintains a modern presents and is in perfect condition. The inside is brand new and completely updated with great features such as high ceilings and gorgeous tiles. Convenient location – Downtown Ann Arbor is great for shopping, outdoor activities, and great music in the summer at Top of the Park! Close to a bus route for students on campus as well as locals looking for close transportation to anywhere around the city!
- 3939 Holden Dr. Ann Arbor, MI 48103 – $1,999,000
This timeless home has 5 beds and 6 baths and is custom designed down to every single detail – I promise you will fall in love at first sight! The design is dramatic yet unique and beautiful with the high cathedral ceilings and the stunning outside terrace. This home features stunning maple cabinets, only the finest granite counter-tops, and features a serving/wet bar area for you and your guests at future parties and family gatherings. This home sits on about 4 Acres so you have room to play with your children and animals in the privacy of your personal yard. There is a built-in-entertainment system, gorgeous in-ground pool with a pool house, and a sauna for you and your family to relax and vacation whenever you come home.
- 540 Rock Creek Dr. Ann Arbor, MI 48104-1864 – $1,500,000
You will fall in love with this Cape Cod styled home completely remodeled to appeal to all with high-quality taste!! Perfect locations – Close walk to the Ann Arbor Arb and located close to Geddes. The outside of this home blew me away but when I approached the inside – I was very impressed. Two gorgeous fireplaces were before me in both living rooms, a fabulous kitchen, a blue stone patio, a salt-water pool, and breathtaking gardens. Their garden was actually featured on the 2015 Garden Walk where folks from all over the country where amazed with this property! Marble counter-tops and amazing heated stone floors make it hard to put down the apron and stop cooking! You will feel like you’re on vacation every day when you walk into your bathroom and are welcomed by a steam shower and jetted tub – Perfect for relaxing before and after a long work day! The lower level even features a wine cellar. The yard is fenced which is perfect for pets and children to play while adults relax under the sun – stress free! This home will make you reconsider ever leaving the state again!
- 2126 Devonshire Ann Arbor, MI 48104-4060 – $1,315,000
Gorgeous, thoughtful home built close to U of M campus and Hospital. All hardwood floors with original trim from when the home was built. The living room has a graceful fireplace for beautiful, snowy Michigan evenings. Large home with five spacious bedrooms and three baths located upstairs. The master bath is recently done and is complete in custom ceramic, timeless additions like this to the home make it so much more meaningful and unique to the owners. This home also includes a guest house with vaulted living room, kitchen, bedroom, and bath (Includes in-floor radiant heat!). The home includes a finished rec room great for maintaining your health and fitness. The garage is large and fully finished so you can use it for storage or parking! The garage also includes a Sub-Zero fridge great for making extra space in the kitchen fridge! You will not be let down when you see the interior of this home!
- 1035 Heather Way Ann Arbor, MI 48104-2835 – $1,310,000
This impeccable Johnson Brothers Custom Built home (2006) is complete with 4 bedrooms and 5 baths, a huge car garage, and divine landscape. The property looks beautiful from a distance and up close – The grass is really that groomed and green! I am so impressed by how well and thought out this house was built – One of a kind! Spacious, big bedrooms for families to have their privacy but a gorgeous living area for everyone to gather and enjoy each other. The kitchen is upgraded and gourmet, complete with top of the line appliances and quality material. This is a must see home to truly appreciates the hard work that was put into making this house unique and top of the line!
We are excited to move into a new year with new team goals and visions. Kathytoth.com/about_us
Toth Team, Worldwide Network
Your Ann Arbor Real Estate Experts
Keller Williams Realty
Kathy Toth and Team are Washtenaw County, Michigan real estate experts who will guide home buyers and sellers through the entire real estate process. Our extensive knowledge of Washtenaw County areas, combined with decades of expertise in the local real estate market is extremely valuable to helping you achieve your goals. For quality service and personal attention during your real estate transaction, contact Kathy Toth and Team for all your home buying and selling needs.
We want to be your real estate agents!
Ann Arbor Real Estate for Sale: 2971 S. Foxridge Court, Ann Arbor, MI
See Virtual Tour for 2971 S. Foxridge Court
Upstairs, three ample bedrooms including a master suite await. The master bedroom, with walk-in closet, cathedral ceiling and master bath with. The master bath has dual sinks, separate shower and soaking tub. The remaining bedrooms share a second full bath on this level. A bonus game room could also be used as a home office, craft area or guest room. The walkout lower level with door wall and daylight windows and sliding glass door connects to the patio. A full bathroom and plenty of storage are also part of this lower level. Many windows throughout the home look out to the wooded park area (Foxfire Park) owned by the City of Ann Arbor. There is also extra storage in the 2+ car garage complete with a workshop area. If a private neighborhood with spectacular view is what you are looking for, please make this home number one on your Ann Arbor real estate must see list!
Additional ANN ARBOR AREA REAL ESTATE Listings
Toth Team, Worldwide Network
Your Ann Arbor Real Estate Experts
Keller Williams Realty
Kathy Toth and Team are Washtenaw County, Michigan real estate experts who will guide home buyers and sellers through the entire real estate process. Our extensive knowledge of Washtenaw County areas, combined with decades of expertise in the local real estate market is extremely valuable to helping you achieve your goals. For quality service and personal attention during your real estate transaction, contact Kathy Toth and Team for all your home buying and selling needs.
We want to be your real estate agents!
Dexter Walking Path Being Transformed Now! How Can We Help the Process of The Border to Border Trail?
Have you walked one of the longest trails in the city of Michigan yet? Dexter has created one of the most magnificent trails yet, and the locals cannot stop raving about it. The Dexter Walking Path leads from Dexter to the Hudson Mills Metro park and is planned to be a total estimated 35 miles. Walking along the Huron River while the trees are throwing their leaves to the ground, preparing for the winter, gives me such a warm and comforting feeling. The weather has been beautiful for the past few weeks – Absolutely perfect to grab your friends, kids, and/or animals to take a long walk along the Huron river. Looking for Homes for Sale along the Huron River? Click Here! Life seems to pass us by at a blink of an eye, before we know it we are caught up in our day to day routines and we are certainly not appreciating the earth that was created for us! The Dexter Walking Trail is the most glorious place to find peace and comfort while enjoying the breathtaking fall views and weather. A little bit of history about the Border to Border trail, a group of independent individuals started working to build one of the longest and most beautiful trails to ever exist. This trail is completely not government funded or funded by any other organizations. In order to raise money for this magnificent trail, the friends of the border to border trail have started sponsorship/promotional bicycle rides along the path, sponsoring cleanups beside the path, and distributing the Border to Border trail maps to all locals and friends so we can spread awareness and raise money for a great, healthy idea!
Michigan is famous for its autumn weather and picture perfect views – take a moment to appreciate the world we live in this season.
The path begins at Mill Creek Park, crosses Mill Creek, and continues to run along the west bank of the Huron River for almost three miles! At this point the trail then connects to a previous trail that continues about two miles down North Territorial Road and leads to the entrance of the Metro Park. The new trail in The Village of Dexter will link the Village’s parks into the regional system along the Huron River. The Village and the Dexter Schools are working together to extend the system south along the Mill Creek through the Village to the School’s future nature corridor and outdoor lab. The friends of the Border to Border trail have many, many innovative ideas but as they have shared with us – not enough funds! We must stand up tall and pitch in all that we can to help our state of Michigan grow and prosper. This breathtaking and one of a kind walking path is one of the most recently completed segments of the Border-to-Border Trail. This trail is still under renovation and is planned to eventually be a 35-mile trail running beside the flowing Huron River. Looking for Homes for Sale in Ann Arbor? Well come walk the path with the Toth team while we utilize our resources for you to find the home of your dreams!
Officials say that the Dexter Walking Trail will not be plowed during the winter, but thankfully will not be closed! So go find your Cross-Country Skis in the back of your closet and hope that the trails are alive this winter!!
Construction of a piece of the Border to Border Trail from Dexter Huron Metro park to Central Street is to begin on Monday, October 12, 2015. The path unfortunately will be closed during construction. To see how you can help fund, volunteer, or learn more about the Border to Border Trail click here!
Toth Team, Worldwide Network
Your Ann Arbor Real Estate Experts
Keller Williams Realty
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- Cambridge Condominiums exterior
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- Cambridge Condominiums
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- Cambridge Condominiums
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- Cambridge Condominiums
Kathy Toth and Team are Washtenaw County, Michigan real estate experts who will guide home buyers and sellers through the entire real estate process. Our extensive knowledge of Washtenaw County areas, combined with decades of expertise in the local real estate market is extremely valuable to helping you achieve your goals. For quality service and personal attention during your real estate transaction, contact Kathy Toth and Team for all your home buying and selling needs.
We want to be your real estate agents!
When you find the house of your dreams, you show the seller you’re serious by writing a check. This is known in the industry as an earnest money deposit.
By law, this sum must be deposited into the title company’s or broker’s escrow account within two days from the final acceptance of the offer.
Essentially, earnest money deposits (otherwise known as a good faith deposit) represents your commitment to buying the home. It shows the seller you’re operating in good faith and allows them to label the home as “Contingent” in the multiple listing system.
As a result of this, the number of showings the seller takes on may decrease while you, the buyer, go through the due diligence period. The larger your earnest money deposit, the more certain the seller will be of your desire to purchase the house.
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The larger your earnest money deposit, the more certain
the seller will be of your desire to purchase the house.
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This deposit can range from about $1,000 to 10% of the home’s sales price. In multiple offer situations, you may want to increase this amount to make your offer more attractive.
Keep in mind, though, that this amount will not be refunded to you if you break the terms of the contract and walk away from the deal.
However, if you meet all of the deadlines and contingencies of the contract, such as the inspection, appraisal, and title review, then the earnest money will be applied toward your down payment at closing.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.