Lackluster US housing is contributing to the recession as well as a rising number of foreclosures as pictured below. For me, and my Ann Arbor Real Estate team this is a challenging time.

Because we are seeing many good folks who have become victims of this crisis, we have shifted our resources to help others avoid foreclosure and provide options. Diana Holding, listing partner,  just received the blank designation.  We have a division to help Ann Arbor homes sellers.  I would say that so far in January two thirds to 75% of our seller  calls are eligible for short sales.  The real heart ache is when they call us too late or they are one month away from losing the house. 

Hardships happen; job loss, medical bills, change of marital state, adjustable rates adjust making payments impossible, and any combination, along with depreciating market values.  What I would like others to know is reach out for help when you think you are GOING to miss a payment.  Washtenaw County Treasurer has a wealth of resources.  See previous post from Ann Arbor News article. Washtenaw County foreclosures hit record in '08.  Talk to your attorney or call legal aid for free legal advice.  Call your bank to renegotiate your loan so you can stay in your house. Get as much information as you can.  Ask us for short sale information or resources for loan modifications.

Long term home ownership is still the American dream and still an great long term investment.  According to Warren Buffett, Chairman Berkshire Hathaway, “ I don’t think there’s anybody better than you could have had; have in the presidency than Barack Obama at this time. He understands economics. He’s a very smart guy. He’s a cool rational-type thinker. He will work with the right kind of people. So you’ve got the right person in the operating room, but it doesn’t mean the patient is going to leave the hospital tomorrow.”  I you are feeling like the patient, look at ArborShortSale.com. 

If you are feeling like you want to take advantage of the buying opportunity of short sales and foreclosures, look at Ann Arbor Area foreclosure deals at http://www.kathytoth.com/custompages_reports.php?key=b81162.  We will update you with more specific criteria if you contact us with your specific buying needs so you will be the first to see the deal as they come on the market.  We have a servants heart; we are here to serve your Ann Arbor Real Estate needs.