The Mortgage Forgiveness Debt Relief Act Did Not Go Over The Cliff, Here to Stay Through 2013

Fiscal Cliff1Was there any good news for Distressed Homeowners as we waited for politicians to avoid taking us over the Fiscal Cliff?  Yes!  The Mortgage Forgiveness Debt Relief Act  was extended through December 2013.  All of our Clients can breathe a sigh of relief.  What does this mean to homeowners who are under water on their Principal Residence and thinking about listing their homes; and for those already under contract? Well, it means continue as planned and move forward.

The Mortgage Forgiveness Debt Relief Act of 2007 was enacted on December 20, 2007.  The Act was designed to help distressed homeowners find relief from cancelled debt.  According to the www.IRS.gov website:

“If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable.

 The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.”

Get answers to some of the most frequently asked questions regarding the Mortgage Forgiveness Debt Relief Act and Debt Consolidation such as:

What is Cancellation of Debt?  |   Is Cancellation of Debt income always taxable?  |  What is the Mortgage Forgiveness Debt Relief Act of 2007?  |  What does exclusion of income mean?  |  Does the Mortgage Forgiveness Debt Relief Act apply to all forgiven or cancelled debts?  |  Does the Mortgage Forgiveness Debt Relief Act apply to debt incurred to refinance a home?  |  If the forgiven debt is excluded from income, do I have to report it on my tax return? 

There are many more questions and answers regarding the Debt Relief Act that apply to individuals each with their own circumstances so when it comes to the Debt Relief Act and Debt Cancellation individuals should consult a tax consultant and an attorney.

Call the Kathy Toth Team your Ann Arbor Distressed Property Experts!

Search for homes in the Ann Arbor Area.

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Dexter Community Events, Activities and Information

Take a look at what’s happening in Dexter, Michigan during the month of January! Click here for homes for sale and your Dexter Real Estate Search.

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01/01/2013

VILLAGE OF DEXTER – ARTS, CULTURE AND HERITAGE COMMITTEE

Occurs the first Tuesday of every month starting 5/5/2009 until 8/1/2017 from 7:00 PM to 9:00 PM

Senior Center
7722 Dexter-Ann Arbor St.
Dexter, MI 48130

Hours: 7:00PM

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01/14/2013

VILLAGE OF DEXTER – VILLAGE COUNCIL

Occurs the second Monday of every month starting 2/14/2011 until 1/14/2013 from 7:30 PM

Senior Center
7722 Dexter-Ann Arbor St.
Dexter, MI 48130

Hours: 7:30PM

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01/15/2013

VILLAGE OF DEXTER – TREE BOARD MEETING

Occurs the third Tuesday of every month starting 3/15/2011 until 2/17/2015 from 9:00 AM to 10:00 AM

Village Offices
8123 Main St.
Dexter, MI 48130

Hours: 9:00AM – 10:00AM

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01/15/2013

VILLAGE OF DEXTER – PARKS AND RECREATION COMMISSION REGULAR MEETING

Occurs the third Tuesday of every month starting 3/15/2011 until 2/17/2015 from 7:00 PM to 9:00 PM

Village Offices
8123 Main St.
Dexter, MI 48130

Hours: 7:00PM – 9:00PM

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01/28/2013

VILLAGE OF DEXTER – VILLAGE COUNCIL

Occurs the fourth Monday of every month starting 1/24/2011 until 1/28/2013 from 7:30 PM

Senior Center
7722 Dexter-Ann Arbor St.
Dexter, MI 48130

Hours: 7:30PM

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Click here to view a calendar which features all of the Events and Activities occurring in the Village of Dexter!

Click Here to view community events in Ann Arbor for January!

 

Dexter Real Estate| Dexter Real Estate Experts

Click here to search all Ann Arbor area Michigan homes and condos with pictures and tours – FREE!
Kathy Toth and Team  www.KathyToth.com  Keller Williams Realty

Ann Arbor Real Estate: 5204 Shepper Road, Stockbridge, MI 49285

 5204 Shepper Road, Stockbridge 49285

$119,900 | 3 Bedrooms | 1 Bathrooms | 4.74 Acres | MLS #: 3209402

Blog 1You will be pleasantly surprised! Three bedroom and one bath home in rural Stockbridge on a 4.74 acre lot. Beautiful country setting that is accessible on all paved roads. Easy access to main roads and is minutes away from Stockbridge village and just 15 minutes to downtown Chelsea. You will enjoy the new remodeled kitchen with oak cabinets and hardwood oak floor. This home also has remodeled bath with tub and separate shower. Check out the great outdoors on the wrap around deck that can be accessed from kitchen, great room and bedroom. This home has a large out building that can store your car and has plenty of room to store all your toys. Call today to schedule a private showing of this Ann Arbor Real Estate.  Please pay attention to exclusions.

Blog 2The Village of Stockbridge was founded in 1835 and incorporated in 1889.  The Village of Stockbridge is incorporated as a General Law Village with a Council/President form of government.  Stockbridge is placed snuggly between Lansing, home of the MSU Spartans and our State’s Capital, and Ann Arbor home of the U of M Wolverines.  The Village has a little of something for everyone from antiques, flowers, restaurants and much more.

 

Related Links and more homes for sale in Ann Arbor, Michigan

Saline Area Reports Sellers Market

 Current Saline Real Estate Market Data, click here.  Saline is in a Sellers market.

Saline

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The recent history of sales can be seen in the two charts above. The median sold price for the last 30 days was $262,500 with a DOM of 53 days. Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.

Looking at the chart below, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer’s market (indicated by high DOM), or a seller’s market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 87 days. Analysis of sold properties for the last six months reveals a median sold price of $272,500 and 41 days on market. Notice that properties in the $600,000 – $700,000 price range have sold quickest over the last six months.

Saline Graph

Search for Homes for FREE in Saline at HomeSearchAnnArbor.com

Breconshire Condos  |  Brookview Highlands Lodi/Pittsfield  |  Centennial Farms  |  Centennial Park  | Crestwood Knolls  |  Crooked Stick at Stonebridge  |  Doral Creek at Stonebridge  |  Forest Trails Neighborhood |  Golden Acres Subdivision  |  Harwood Farms Subdivision  | Hi-View Subdivision | Highpointe Villas in Stonebridge  |  Lohr Lake Village  |  Mallard Cove Neighborhood  |  Regents Park  | Silo Ridge Subdivision  |   The Links at Stonebridge  |  The Vineyards of Sha Estates  | Timberview Acres Subdivision  |  Twin Islands at Stonebridge Condominiums  |  Warner Creek Subdivision

We would like to see your face so “Like” Us on Facebook  |  ”Follow” Us on Twitter   |  Find Me on LinkedIn   |  Pin our Pics on Pintrest  | View My Google+ Profile   | Read Our Blog at AnnArborTalks.com  |  Watch Our Videos

Contact the Toth Team at www.KathyToth.com

Chelsea Area Market Report Over the Last 6 Months

Click here to get your Area Market Report
Chelsea number of listings for Sale Vs. Pending Contract in Chelsea

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Let’s take a look at the real estate market.

Currently there are 8 Chelsea home sales pending in the market overall, leaving 97 listings still for sale. The resulting pending ratio is 7.6% (8 divided by 105). So you might be asking yourself, that’s great… but what exactly does it mean? I’m glad you asked!

The pending ratio indicates the supply & demand of the Chelsea Real Estate market. Specifically, a high ratio means that homes are selling and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply. “Current inventory is described as somewhat slow.”

Taking a closer look, we notice that the $0 – $100,00 price range has a relatively large number of contracts pending sale. We also notice that the $200,000 – $300,000 price range has a relatively large number of Chelsea homes for sale at 32 listings. The median list price (or asking price) for all properties in this market is $249,900. A total of 118 Chelsea homes have closed in the last 6 months with a median sold price of $184,500. Breaking it down, we notice that the $100,000 – $200,000 price range contains the highest number of sold Chelsea homes.

Search for Chelsea homes with our Free Online Search Engine HomeSearchAnnArbor.com. Put it on  your mobile phone!  Look, we are working during the Holidays, call us 734-669-0337.

Explore Chelsea:  Purple Rose Theatre  |  The Common Grill  |  Chelsea Center for the Arts  |  Chelsea Center for the Arts  |  Chelsea Clock Tower  |  Chelsea Teddy Bear Company  |  Chelsea Community Tour  |  Ellie’s Chocolate Cafe  |  Glee Cake and Pastry  | Silver Maples Community  |  Zou Zou’s Cafe

“Like” Us on Facebook  |  ”Follow” Us on Twitter   |  Find Me on LinkedIn   |  Pin our Pics on Pintrest  | View My Google+ Profile   | Read Our Blog at AnnArborTalks.com  |  Watch Our Videos

Kathy Toth and Team, Keller Williams Realty.  Visit us on the web at www.KathyToth.com

Dexter Real Estate: 3519 Lexington Circle, Dexter, MI 48130; Find all Dexter homes for Sale

3519 Lexington Circle, Dexter 48130

$184,900 | 3 Bedrooms | 2 Bathrooms | 0.22 Acres | MLS #: 490302

Can you say Great Room with volume ceilings and gas fireplace? Well appointed kitchen with plenty of cabinet space. First floor master with walk-in closet and master bath. Large study loft on the second floor. Two nice sized bedrooms along with full bath on the second floor. Two car attached garage along with a full basement for plenty of storage. Large deck off the kitchen nook area with fenced backyard. This 3 bedroom 2.5 bath home in Dexter Crossing subdivision in the village of Dexter is a perfect opportunity for buyers to snap up a fabulous home at a great price point. The community offers professionally designed neighborhood entrances, street lighting, picnic area, play parks, walking trails and sidewalks with Dexter sewer and water. Dexter Crossing is a mixed use community with the convenience of Busch’s grocery, Country Market grocery, video store and restaurants within walking distance. Which is what you need right? Add to your favorites, and schedule a showing of this great Dexter Real Estate.

Tucked away along the banks of the Huron River, the Village of Dexter is growing in leaps and bounds. Although Dexter’s current population estimates are under 3,000, the village is coming into its own, and new residents are creating a need for new residential developments, retail and entertainment options. But as Dexter continues to grow, the community’s emphasis on family life and preservation of its historical charm are never forgotten.

Sellers say:

Dexter has a small town feel with easy access to big city things.  Dexter has access to all of the local schools, the metroparks , cider mill and it is close to the YMCA. It also has a very good school district.   There is a small park located in the subdivision as well as a nice walking path throughout.  The neighborhood – I wanted my young kids at the time to have access to friends/neighbors.  The neighbors are very friendly and helpful as well.  There is a subdivision wide garage sale and an adopt a family program at Holiday time.  Grocery store is within walking distance for those forgotten items needed for dinner.

Aubrees and the Dexter Pub are some of my favorite local restaurants!

 

Related Links and more homes for sale in Dexter, Michigan
See Extra Photos for 3519 Lexington Circle
Please visit our website for a complimentary MLS search

Additional DEXTER REAL ESTATE Listings

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

Washtenaw County Sheriff’s Deeds Still Lower for Ann Arbor and all Washtenaw County

Washtenaw County Sheriff’s Deeds November 2012 Report.

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According to Lawrence Kestenbaum, Washtenaw County’s Clerk and Register of Deeds office, “Only 784 Sheriff’s Deeds were recorded in 2012 through November, compared to 1,045 in 2011 and 1,337 in 2010.  This year’s year-to-date total continues as the lowest since 2006.”  If you are looking for foreclosures in Ann Arbor, there are still some bargains to be found.

The 2012 year-to-date Sheriff’s Deeds recorded were 24.9% less than last year.  We are running close in totals to the year’s 2006 & 2007 showing good signs of stability in the real estate market.  🙂

Do not wait to list your home?  This is the perfect real estate market to show off your property.  The number of homes listed is low and there are fewer and fewer distressed properties for home buyers to choose from.  We are not looking back.  All the market signs are leaning toward a great selling market.  Buyers want to take advantage of the all-time low interest rates.  Many homes are receiving multiple offers.  The weather is mild for this time of year and Buyers are looking, qualified, and eager to make their new home purchase.

Search for Foreclosed Properties / Bank Owned properties.

Below is the updated table showing the monthly recordings for January 2002 through November 2012 for you to review.

Want to keep track of homes that are coming on the market.  Search for homes at HomeSearchAnnArbor.com

When looking for expert real estate advice contact Kathy Toth and Team (734) 426.6669.

“Like” Us on Facebook  |  ”Follow” Us on Twitter   |  Find Me on LinkedIn   |  Pin our Pics on Pintrest  |

View My Google+ Profile   | Read Our Blog at AnnArborTalks.com  |  Watch Our Videos

 

 

Dexter Community Events, Activities and Information

Take a look at what’s happening in Dexter, Michigan during the month of December! Click here for homes for sale and your Dexter Real Estate Search.

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12/04/2012

VILLAGE OF DEXTER – ARTS, CULTURE AND HERITAGE COMMITTEE

Occurs the first Tuesday of every month starting 5/5/2009 until 8/1/2017 from 7:00 PM to 9:00 PM Senior Center

7722 Dexter-Ann Arbor St.
Dexter, MI 48130

Hours: 7:00PM

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12/10/2012

VILLAGE OF DEXTER – VILLAGE COUNCIL

Occurs the second Monday of every month starting 2/14/2011 until 1/14/2013 from 7:30 PM

Senior Center
7722 Dexter-Ann Arbor St.
Dexter, MI 48130

Hours: 7:30PM

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12/18/2012

VILLAGE OF DEXTER – TREE BOARD MEETING

Occurs the third Tuesday of every month starting 3/15/2011 until 2/17/2015 from 9:00 AM to 10:00 AM

Village Offices
8123 Main St.
Dexter, MI 48130

Hours: 9:00AM – 10:00AM

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12/18/2012

VILLAGE OF DEXTER – PARKS AND RECREATION COMMISSION REGULAR MEETING

Occurs the third Tuesday of every month starting 3/15/2011 until 2/17/2015 from 7:00 PM to 9:00 PM

Village Offices
8123 Main St.
Dexter, MI 48130

Hours: 7:00PM – 9:00PM

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12/24/2012

VILLAGE OF DEXTER – VILLAGE COUNCIL

Occurs the fourth Monday of every month starting 1/24/2011 until 1/28/2013 from 7:30 PM

Senior Center
7722 Dexter-Ann Arbor St.
Dexter, MI 48130

Hours: 7:30PM

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Click here to view a calendar which features all of the Events and Activities occurring in the Village of Dexter!

Click Here to view community events in Ann Arbor for December!

Dexter Real Estate| Dexter Real Estate Experts

Click here to search all Ann Arbor area Michigan homes and condos with pictures and tours – FREE!
Kathy Toth and Team  www.KathyToth.com  Keller Williams Realty

Sneak Peak – Dexter, MI 100 Year Old Farm House on 2 Acres

Take a sneak peak at this Dexter, historic, 100 year old farm house on 2 acres in Webster Township – coming on the market soon.  Price to be $79,000. Dexter, Michigan is located northwest of Ann Arbor.  This home, at 9500 Huron River, is located north of North Territorial Road, just a stone throw from the Huron River which is accessible from the old Bell Road Bridge for fishing. The original owner, Catherine Deisinger used to feed the workers who mined the gravel pit while they built and spread the gravel on North Territorial Road.

This home is subject to tenants rights.  Tenant is on month to month lease.  2,066 square feet, 2 bedrooms downstairs, 4 rooms upstairs with no closets. Built in 1876 with out buildings and detached garage shown. Well and Septic. Winter tax $2,792 and summer tax $1,112.

To search for homes available in Dexter, MI go to www.HomeSearchAnnArbor.com

Find out more from the Ann Arbor Experts!  Search for homes in the Ann Arbor Area.

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Popularity of Ann Arbor Neighborhood Video Tours Lead to New Video Website for Kathy Toth & Team

When Ann Arbor REALTOR® Kathy Toth began using videos to provide information about neighborhoods and homes in

Number one Ashley

Ann Arbor and Dexter, she had no idea how popular those videos would become. Now, over 100 videos and over 80,600 views later, www.AnnArborRealEstate.tv breaks ground as a video-centric website. The new site is a convenient resource for anyone who would like an instant tour of area neighborhoods.

Neighborhood videos and video home listings are increasingly popular, thanks to mobile technology trends and consumer preferences for visual information. “There is nothing more immediate than video,” says Kathy Toth, who has been selling real estate since 1989. She adds, “Quality is everything in a video. We present neighborhoods and homes professionally, which benefits the viewer as well as the client.”

To create high-quality videos, Toth enlisted the help of a local video production firm, Mixed Media, to produce full-motion video tours of popular Ann Arbor and Dexter subdivisions. Many of the videos offer a drive through the neighborhood, providing true-to-life street tours, as well as views of local parks and home interiors.

Toth’s clients love being able to discover a neighborhood this way, “It’s convenient, saves gas and truly gives us enough of a peek into a subdivision to determine if the area warrants further consideration” states Pat Strabbing Toth’s Ann Arbor buyer client.

Mixed Media and The Kathy Toth Team have been working together on the video projects throughout the last year. To date, they have completed over 100 Ann Arbor area neighborhood videos, with more likely to come. Before proceeding with the project, both parties knew that in order for the videos to be beneficial, the quality would have to be a cut above what is customarily seen on YouTube.

Toth explains, “Up until now, REALTORS® have commonly used basic photo slideshows to showcase the neighborhoods they service. With the growing popularity of video, Ann Arbor area home buyers are expecting successful REALTORS® to utilize the most advanced technology in their marketing plans.”
“The clearest trend in real estate video marketing is towards quality and away from user-generated content. People serious about finding a real estate practitioner or selling their homes look for agents that market themselves and their properties with the utmost professionalism,” said Christian Sterner, co-founder of WellcomeMat. “Video is a highly effective communication tool, but that is where user-generated content should end. As real estate marketers, it is not enough to just do video: it must be done with class.”

The success of the videos led to the need for a one-stop website, where viewers could easily select from the neighborhoods that interested them. For this project, Toth turned to Shane Pendley at Parus Solution Marketing. The result was an innovative website containing very few words, relying instead on robust video content. The site quickly evolved to include informative videos for home buying, selling, and short sales, featuring Toth delivering expert tips and advice.

Being a top-producing Associate Broker, Toth is always eager to provide cutting edge services to her clients. Adding professional video was a natural fit to her growing menu of client services. To view videos featuring Ann Arbor and Dexter neighborhoods, visit Kathy Toth & Team’s new video website at www.AnnArborRealEstate.tv. For more information about Kathy Toth & Team and their array of client services, visit www.KathyToth.com.

Kathy Toth & Team have been serving Washtenaw County real estate including Dexter, Ann Arbor, Chelsea and Saline clients for over 20 years. They are among the top one percent of REALTORS® nationally and have been featured twice on House Hunters HGTV. Toth works directly with listing and buyer representative partners, with a goal of exceeding her client’s expectations while meeting their real estate purchase or sale objectives.

Kathy Toth and Team
www.KathyToth.com

Keller Williams Realty