Winterizing Tips for Your Ann Arbor Home

With the glorious fall Southeast Michigan experienced this year, and more warm days than cold, it’s hard to believe it’s time to think about winterizing your Ann Arbor Home. But the frigid days are just around the corner, and an occupied house still needs a few important tasks completed. Here are a few tips to get your home winter ready.

• Exterior Spigots. Turn off the water from the inside, turn on the spigot outside to drain, disconnect and put away your hose. A burst pipe can wreak havoc and the cold weather will crack your hose.
• Air Conditioner. If your unit has a shut off valve, turn it off and drain any hoses. Remove window units and store.
• Sprinkler System. If you have an in-ground sprinkler system, have the lines blown out. Simply draining it can leave water in the pipes which will freeze and cause damage.
• Clean Gutters and Downspouts. Make sure leaves aren’t clogging your gutters and downspouts, hampering water flow. Ice dams can form in blocked drains and water can back up and freeze causing damage to your roof and home.
• Heating System. Replace your filter and get your furnace tuned up. Many companies offer free annual check-ups. If there are any problems you can address them now before temperatures drop.
• Thermostat. Reprogram your thermostat so it is turned down when no-one is home and at night. This will save you money on your heating bill.
• Reverse Ceiling Fans. Most ceiling fans have a switch that reverses the blade direction. By doing this, warm air is pushed downward and recirculated keeping the room more toasty.
• Wrap Pipes. Frozen pipes are the last thing you want. If you have pipes that run through unheated areas, be sure those have an insulating wrap protecting them. Likewise, interior pipes that feel warm to the touch should also be wrapped to save energy.

Do you have anything to add to the list? Please leave a comment with your winterizing tip! For more home maintenance tips, or to find out what your Ann Arbor home is worth in today’s market, give us a call at 734-761-3060 or email us at info@bouma.com. And be sure to check our Ann Arbor real estate blog regularly for market updates, subdivision reports, current mortgage rates, community events and more!

Ann Arbor Homeowners Beware!

Mortgage scams are at an all-time, record high. According to FinCEN (Financial Crimes Enforcement Network), suspicious activity reports were up 31% from the first quarter of 2010. Although this sharp rise is in part attributed to cases going back several years that are just now being uncovered, there is a new scam that Ann Arbor homeowners should be aware – hijacked mortgage payments.

Here’s how it works: the homeowner receives a letter in the mail from Bank B claiming that they have purchased their mortgage from Bank A. The letter states that the homeowner should start sending their loan payments to Bank B, who now holds the mortgage. Since banks buy and sell mortgages on a regular basis, the homeowner may not think this is fraudulent and begins making payments to the ‘new’ bank. They usually don’t realize they’ve been scammed until a month or two later when they’ve missed payments with Bank A.

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Warren Buffet Thinks So.

The most successful investor and third wealthiest person in the world, Warren Buffet, recently shared his belief that real estate is still a good investment. He stated “The third best investment I’ve ever made was the purchase of my home” with the first two being wedding rings. In his annual letter to shareholders, he points out that, “Home ownership makes sense for most Americans, particularly at today’s lower prices and bargain interest rates”.

But, he advises to use caution when purchasing real estate and follow these tips:

• Only purchase a home that you can afford. Don’t bank on growing into your house payment. Be able to afford it now, including having extra cash for unexpected events.
• Buy low. Now is the perfect time for this, as housing prices are at an all-time low. Any market is impossible to predict, so don’t wait to take advantage of it.
• Get a fixed mortgage. In the past, in order to afford their house payment buyers opted for a variable rate with the hopes their home would gain value and they could refinance into a lower payment in the near future. When the housing market went south, home values did not increase, rates increased, and homeowners could no longer afford their payments.
• Plan on a long term hold. Home values fluctuate, but statistics show that over time real estate values increase. Plan on owning your home for at least 10 years to realize a return on your investment. Warren Buffet actually still lives in the Nebraska home he purchased 52 years ago for $31,500.

Spring is here and the Ann Arbor real estate market is full of great deals. Whether you’re buying or selling a home, The BoumaGroup can answer any questions you have about real estate in Ann Arbor. Thinking of settling down in Washtenaw County, Dexter, or a specific Ann Arbor neighborhood? Call the Bouma Group today. And don’t forget to check out our Condo Hotline – we know the Ann Arbor Condominium market better than anyone!

Thinking of Appealing your Property Taxes?

If you are a Washtenaw County property owner, within the last 2 weeks you should have received a Notice of Assessment, Taxable Valuation, and Property Classification letter from the city or township where your property is located. This letter states what the taxable value and the assessed value are for your home for the current year 2011 and the past year 2010. After reviewing this information, you may not agree with the current assessed value of your home and the taxes you are required to pay, based on recent home sales in your neighborhood.  If you feel that your property assessment is too high, here is some important information that may help you protest your assessments at your local board of review.

The date for filing Property Tax Appeals is quickly approaching. Here are some helpful dates to keep in mind:

• October 1, 2009-September 30, 2010: This is the sales study period. Assessors use home sales from this time frame to calculate 2011 property values.
• December 31, 2010: Tax day for 2011 assessments and 2011 property taxes. No sales after September 30, 2010 will be used to calculate home values (except in special circumstances).
• March 2011 Beginning the Tuesday after the first Monday: This is when the Boards of Review will be meeting with homeowners to discuss appeals. You must make an appointment. Check your Notice of Assessment for the phone number to call and the exact dates they will take appointments. Keep in mind that this date changes based on municipality so please check with your jurisdiction.
• May 1, 2011: This is the last day for Homeowners to file a PRE, Principle Residence Exemption form. You can read more about it on the Michigan Taxes website.
• July 31, 2011: The deadline for filing residential appeals to the Michigan Tax Tribunal. You must have already protested your tax assessment at the local review board in order to take it to the MTT.
• December 31, 2011: Tax day for 2012 assessments and 2012 property taxes.

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As families around Ann Arbor prepare for the bustling holiday season, it’s important to remember that maintaining large kitchen appliances is a key element to peace of mind. The last thing you need while preparing for a party or holiday feast is a problem with your refrigerator or dishwasher, in addition to the worry of overspending on your energy budget! With occasional light maintenance and good usage habits, you can avoid hassles throughout the year. Here are a few tips for keeping your large kitchen appliances in perfect working order (and saving money in the bargain):

Refrigerators and Freezers

• Adjust the thermostat. Because it cycles on and off all day, your refrigerator consumes more electricity than any appliance in the home (aside from the heating and cooling system). When you set the thermostat colder than it needs to be, you could be increasing your fridge’s energy consumption by as much as 25%. Adjust the refrigerator so that it stays in the 37-40F range. Try to keep your freezer between 0-5F. If your model doesn’t display the current temps, invest in two appliance thermometers (one for the fridge, one for the freezer).

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Doing what you can to help other Ann Arbor residents gain a foothold on the home ownership ladder doesn’t just help them–you’ll reap benefits for both your community and your own wallet. Individuals who move from renting to owning a home, are more likely to vote, get involved in community groups, and invest in their own home’s appearance. A 2001 Harvard University study showed that children of homeowners do 23% better in school. A steady flow of first-time home buyers makes it easier to sell your own starter home, when you’re ready to move up.

Affordability of housing is one of the best ways to make more people homeowners. Government-backed mortgage insurance can help to lower loan costs, and a variety of public and private programs offer low-cost loans and down payment assistance. You can help prospective homeowners save down payment funds by donating to sites like EARN, a non-profit company that uses donations to match funds saved by low-wage earners.

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If you are an Ann Arbor homeowner who allows others to hunt on your property, you could be liable if they’re injured. Cover your risk by asking hunters to sign a liability waiver. This suggestion comes from InsuraCorp, Inc., a Fremont-based company which has a Hunting Hold Harmless Agreement on its website. While deer hunting is an extremely popular outdoor tradition in Michigan, homeowners should take appropriate measures to avoid injury-related lawsuits suffered by hunters on their property.

According to the Michigan Department of Natural Resources and Environment (DNRE) the state has issued 13,641 deer hunting licenses in Washtenaw County so far this year, while statewide, sales have reached about 1.3 million. Firearm season for deer runs from November 14 through the 30th; archery season begins December 1 and runs through the 30th.

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Now that colder weather is moving into Ann Arbor, it’s time to settle in with a stack of great books, or a few great movies. Before you do, be sure to plan ahead so that an easily avoidable home emergency doesn’t ruin your hibernation! Just follow these simple tips, and enjoy a snug and comfortable home all winter long.

Super Quick Fixes

• If you don’t have smoke detectors, install them now. If you do have them, change the batteries and test the detectors to ensure that they’re working properly.

• Inspect your roof for missing or cracked tiles. If repairs are needed, get them before snow and ice force you to wait until spring. Read the rest of this entry

Ann Arbor residents are preparing themselves and their homes for winter. As you get ready for colder days, it’s important to note that the US Department of Energy says that 14%-25% of the average homeowner’s total energy costs go toward water heating. This amounts to more than $300 per year. Here are five energy-saving tips which can help cut the cost of heating water in your home:

Tip #1: Wrap your heater in a blanket. Water heaters are often located in unheated areas, making insulation critical. Cutting heat loss by using an insulating blanket (usually priced around $30) can save 4%-9% on the average water-heating bill. Be sure to check with your manufacturer’s guide; some new models of water heaters already contain insulating foam, making a blanket unnecessary.

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Buying a condominium in Ann Arbor can be a very different experience from buying a single-family home. Single-family homes may be part of neighborhood associations. Condominiums are always part of a specific, preexisting community, and as such, purchase considerations must include both the individual unit and the overall condominium project. Informed purchasers will view a condominium in terms of both their day-to-day comfort, as well as potential resale value. Buyers should know both the condition of the individual unit they’re contemplating purchasing, and the conditions (both financially and in terms of governance) of the entire community of which that unit is a part. Here are some of the specific questions that you should ask when considering the purchase of a condominium unit:

What is the monthly condominium fee, and what does it cover? Condominium fees can range widely. They generally include a variety of things and purchasers need to know exactly what they are. The fees are derived from such things as the number, age and condition of units, annual expenses to maintain common areas, and management (is it professionally, or self-maintained?).
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