On Thursday, December 15 , 5 people from our office went to Yad Ezra in Berkley.  This is a food pantry that feeds the Jewish Hungry.  The clients are given points depending on how many people are in their family.  A one person family would receive 60 points and a family of four will receive 115 points.  For example, a can of juice is 3 points and fish may be 7 points. They receive this food from Yad Ezra once a month.  The day we arrived Forgotten Harvest donated many cases of oranges.  As volunteers we bagged the oranges and were able to give them out as " free points".  Many of the recipients are Russian immigrants and are unable to speak English.  This food pantry helps to make their transition here so much easier.


Yad Ezra is very organized and very clean.  It was an honor and a pleasure to be able to volunteer in this capacity.  Their staff is very small due to the economy.  I can easily state that all of us felt very good about vounteering that evening.

 Living in metropolitan Detroit, we know this is a wonderful place to live, raise a family and work.  As residents of the area, we are also ambassadors to help visitors enjoy their experience of Detroit; if they enjoy their time here perhaps they’ll visit again or decide to live and work here. Or maybe they’ll simply say something nice when Detroit comes up in conversation.  Each of these scenarios is good for Detroit and the region.

Downtown Detroit is in the midst of an exciting revival with high expectations for great things coming soon, so Hall & Hunter Realtors’ Relocation Department arranged a field trip for it’s agents to tour the city and see the revitalization first hand.  We picked a gorgeous afternoon for a tour guided by Jeanette Pierce, the founder of Inside Detroit.  Pierce’s goal was to share many of Detroit’s interesting and beautiful sites from an insider’s perspective.  Pierce shared tidbits of the city’s history going back to it’s founding in 1701 by Antoine de la Mothe Cadillac.  Moving forward in time, the tour stopped in to see the Guardian Building, a landmark Art Deco high-rise building constructed in 1929 in merely seven months.  With it’s incredible mosaics, tile and woodwork, and an impressive mural of Michigan with illustrations of the state’s early economic foundations of forestry, agriculture and manufacturing, the Guardian Building brought Detroit’s history to life for everyone on the tour.

Recent perceptions of Detroit have focused on fears for personal safety, but while the tour stopped at Campus Martius Park, hundreds of people were lunching, reading books, and simply soaking up the sunshine.  This downtown jewel is rich with new buildings, restaurants and park benches for summertime enjoyment, concerts and outdoor movies, as well as hosting the Motown Winter Blast in January.   Statues in the park are reminders of the politicians and sports figures who made Detroit the highlight of the nation.

The tour later enjoyed Tyree Guyton’s Heidelberg Project, which looks & feels very different in person from photographs, and gains much more meaning when seen through the eyes of Jeanette Pierce.  Guyton’s project unfolded in 1986 as a way to create art from found objects and trash, elevating Heidelberg Street’s overlooked, empty lots into an ever-evolving outdoor gallery.   Some view the Heidelberg Project as “in your face” art, but seeing it in person can give fresh appreciation for this unique beauty.

 Formerly a Grand Trunk Railroad line, the Dequindre Cut is a below-street-level path running parallel to St. Aubin Street, between the Detroit River and Eastern Market.   The completely renovated greenway features a 20-foot-wide paved pathway, includes separate lanes for pedestrians and bicycle traffic, and provides an unexpected urban oasis.   Popular with Detroit’s residents and visitors, the Dequindre Cut is a great way to access the Riverwalk, a 5-mile long route along the Detroit River.  The tour included a visit to Rivard Plaza, a lovely spot on the Riverwalk with a snack stand, a carousel, a bike rental company, and even a nature path & pond – all just a short, relaxing stroll from the RenCen.   There’s so much to see, do, discover and re-discover in Downtown Detroit.  Every person on the tour ended the afternoon re-energized about present-day Detroit and quite excited about it’s future.

We are all Detroit ambassadors.  It is not a choice; it’s a fact.  We are ambassadors because each of us represents our region and wants it to succeed and prosper.  As the tour demonstrated, Detroit offers plenty of exciting opportunities, so find something about the city that delights you and share it at every opportunity.

August 22, 2011 By Melissa Dittmann Tracey, REALTOR Magazine: Source Article: Click here

Kelly O’Ryan, an office manager for Coldwell Banker in Lexington, Mass., recently highlighted several tips of what home owners shouldn’t do when trying to sell their home in an article at RISMedia. Here are a few don’ts that made it on their list, see if you agree!

1. Don’t slack off on home maintenance. Houses in need of TLC often attract investors or property flippers, which are known for submitting low-ball offers. To attract offers and the highest bids, sellers should attend to any upkeep and maintenance issues before putting the house for sale.

2. Make sure the home isn’t being overshadowed outside. Nothing kills curb appeal more than a home you’re selling that you can’t even see. Be sure to trim trees or bushes to ensure they aren’t blocking any windows or the exterior of the home.

3. Remove wallpaper. Wallpaper and borders can be a nuisance to remove so you might want to take these personal decor touches down before you list the home. Neutralize the homes in subtle colors that will appeal to the most buyers and allow buyers to better visualize their personal decor moving in.

4. Don’t keep an empty home empty. Buyers can struggle in picturing themselves moving in if a home is left empty. Vacant homes can feel cold and rooms can look smaller than they really are. That’s why O’Ryan reminds us why builders spend thousands of dollars staging model homes. If your listing is vacant, consider staging it to bring in furniture and accessories to help define the various rooms functions.

Posted by John Butzko on August 31, 2011 http://www.thesaundersblog.com/top-10-facts-about-fha-loans/

An FHA loan is a loan insured against default by the Federal Housing Administration. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults—the FHA will pay. Because of this guarantee, lenders are willing to make large mortgage loans. In fact, it is the largest insurer of residential mortgages in the world, insuring tens of millions of properties since 1934 when it was created. Nevertheless, they are a great help to some borrowers.

FHA loans are more popular than ever and may be right for you, whether you are looking to buy your first home, next home, or refinance a home you already own. To help you along, here are the top 10 facts about FHA loans:

1. Low Down Payment – FHA loans allow people to buy a home with a down payment as small as 3.5%. Other loans might not allow such a low down payment.

2. Competitive Fixed Rates – Interest rates of FHA loans are very attractive and competitive when compared to other loans. Also, the rates are fixed, therefore eliminating the risk of increased payments down the road.

3. Flexible – Credit approval guidelines for FHA loans are more relaxed than other loans, allowing more families to secure the financing they need for their home. Some leeway is allowed, even for borrowers who’ve filed for bankruptcy.

4. No Qualifying Income Limits – FHA lending limits vary based on a variety of housing types and the state and county in which the property is located.

5. Debt-to-Income – The debt-to-income qualifying ratio allows a larger portion of the buyer’s income to go toward monthly mortgage payments

6. Assistance is Acceptable – When setting up your FHA loan, gift funds and down payment assistance are programs allowed. Seller contributions of up to 6% are also allowed.

7. Non-occupant co-borrowers are allowed on 1-unit properties.

8. Lifestyle Options – FHA loans are available on 1-4 unit properties, manufactured homes and FHA-approved condominium projects, allowing a range of lifestyle options for buyers.

9. Renovation Programs – The FHA has a special loan product for borrowers who need extra cash to make repairs to their homes. The chief advantage of this type of loan, called a 203(k), is that the loan amount is based not on the current appraised value of the home, but on the projected value after the repairs are completed. A so-called “streamlined” 203(k) allows the borrower to finance up to $35,000 in nonstructural repairs, such as painting and replacing cabinets or fixtures

10. No Prepayment Penalty

Daily Real Estate News | Tuesday, August 09, 2011

Mortgage rates are near record lows and housing affordability is at its highest in years, but lending is at its lowest point since 1997. What’s more, new mortgages are down by a third compared to 2010.

Lenders will write about $1 trillion in home loans this year, the fewest number since 1997, according to the Mortgage Bankers Association. MBA projects that home lending will fall even lower in 2012.

"There is a burnout phenomenon," Mortgage Bankers Association economist Michael Fratantoni said. Refinancers have stopped refinancing due to declines in home prices and with many now being underwater on their homes. "Borrowers who couldn't qualify for 4.5 percent mortgages last year for the most part still can't qualify this year," Fratantoni said.

The tightening of credit and falling home prices have certainly limited lending, but some lenders are starting to ease terms for the first time since the housing crisis began.

"All those granular issues we were beating people up about over the last three years seem to be going away," says Jeff Lazerson, a Laguna Niguel mortgage broker. "The hassles over old credit inquiries. Having to explain every entry on a bank statement."

In fact, Wells Fargo & Co. and Bank of America Corp. say they’ve eased their credit standards slightly for loans backed by the Federal Housing Administration, which tend to be attractive to first-time buyers because of their small down payment requirements.

Sources:

"Home Lending at Its Lowest Point in 14 Years," realtormag.realtor.org

“Mortgage Lending at Lowest Level Since 1997,” Los Angeles Times (Aug. 6, 2011)