Sheriff’s Deeds in Washtenaw County is Down

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The number of recorded Sheriff’s Deed is slowing down.  Only 36 Sheriff’s Deeds were recorded in March.  This was the lowest number of recorded Sheriff’s deeds scored since the 30 recorded back in July of 2006 representing a significant downward trend.  Comparing last March 2012 to March 2013 the recordings have dropped 28% and compared to last month they have dropped 23.4%.

Find Foreclosure deals

Buyers have been purchasing homes quickly as inventory is reported “low”.  Buyers want to take advantage of low interest rates being offered by banks and mortgage lenders.

Sellers, this is an excellent time to place your home on the market.  Have you been thinking about selling your home?  Call the Listing Experts at Kathy Toth and Team to get expert advice about pricing your home in this Spring market.

An updated table showing monthly recording for January 2002 through March, 2013 is presented below.  This press release was prepared according to Lawrence Kestenbaum, Washtenaw County’s Clerk and Register of Deeds.

March 2013 Sheriff Recordings

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Michigan Foreclosures Are Down|734-669-0337|Ann Arbor Area Real Estate Experts

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Foreclosure Activity in Michigan Mapped Below


What Counties Have the Highest Foreclosures?

Wayne County clearly has more foreclosures and Washtenaw Foreclosures continue to delcine as reported.

There are currently 82 foreclosures listed now in Washtenaw County. We have had many short sale sellers contact us about proceeding before their redemption period ends. Homes listed as short sales are here.

If you have questions about selling your home short, click here. I have co-authered the Book Should I Short Sale My Home?
We are here to answer any questions you may have, as heard on 102.9 FM Radio.

Should Ann Arbor Area home owners do “Strategic Default” ?

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3 Reasons the Term “Strategic Default” Is Misleading

In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from your mortgage—if they were underwater (owed more on their home than what it was worth).

Now that more than one in four American homeowners is “underwater,” I feel that it’s important for the community to know the truth about strategic default.

The truth is the foreclosure process carries with it credit issues, current and future employment challenges, issues with security clearance and possible debt collections.

That’s why it is vital to explain the 3 reasons why the term “strategic default” is misleading:

  1. There’s nothing strategic about defaulting on purpose, especially when you have options like short sales, mortgage modifications, and refinance (just to name a few) that may keep you from foreclosure.
  2. The waiting periods to apply for a new mortgage loan are at least five years less in a short sale vs. a foreclosure.
  3. A foreclosure will show up on your credit report every time you apply for a home loan, car loan, new job, etc., and will affect your financial situation for many years to come.

Luckily, we are experiencing less foreclosures in Washtenaw County in 2012.  There are 177 homes in our Ann Arbor Area Board that are foreclousres and or short sales today.

If you are under water and can no longer afford your mortgage payments, you need to create a genuine strategy to avoid foreclosure, helping to provide stability for you and our community.  You may be eligible for a Short Sale.

If you have any questions about what steps you or someone you care about should take next, contact us today! 734-426-6669

Kathy Toth, CDPE