Michigan's Future?

The "hot topic" when it comes to the automotive industry and a potential important component in the transformation of the Michigan economy, is the battery technology for the electric and hybrid vehicles of the future.

The United Kingdom based Ricardo Inc., officially opened its new hybrid and and electric vehicle battery development and testing facility in Van Buren Township, which is located 15 minutes southeast of Ann Arbor, on Tuesday, the 27 th.

The $2 million facility will develop, engineer and evaluate battery packs for electric, plug in hybrid and hybrid vehicles A total of 240 workers will be employed by Ricardo.

All I can say is "Thank you" Jesus and "Thank you" Ricardo Inc. for this wonderful addition to the Ann Arbor area. We have to focus on the positives like this new facility and work to make the southeast Michigan area more business friendly, so many more companies like Ricardo Inc., will choose to locate in the wonderful Ann Arbor metro area. Let's hope this kind of cutting edge industry may be just the beginning of Michigan's renaissance.

If you have any questions about buying or selling a home in Ann Arbor contact the Wickland Group. Our experienced team of Realtors, marketers and support staff is here to help you with your real estate needs in Ann Arbor and throughout Washtenaw County. Expect only the best customer service and support from the team, taking all of the stress out of your real estate experience.

By Steve Wickland

House Poor? Cash-strapped? Broke?

Have you heard there is no such thing as a free lunch and believe it to be true? Well how about a free dinner? That's right the Ypsilanti location of Buffalo Wild Wings is now promoting FREE TUESDAYS - I saw it on the I-94 billboard with my own eyes. What does that mean you ask?


That means that every Tuesday in 2009, however many wings you buy, thats how many you get FREE... Up to 100 - Dine in or carry out!!! I don't know about you, but in these tough economic times, a free anything is worth it's weight in gold.


So if your house poor from buying a home, or looking to save some cash to finance your first new home, stop by Ypsilanti's BWW for a night out and Free Wing Tuesdays.


Buffalo Wild Wings #3378
216 James L Hart Parkway
Ypsilanti, MI 48197
Phone: 734-480-7410


by Tammy Mayrend

Loan Modification: Magic Bullet for Desparate Sellers?

Lately, the buzz-word being used by everyone it seems is the term; “Loan Modification.” First, let’s make sure we all understand what the term actually means. Obviously, we’re talking about a mortgage (loan) on a home that is changed (modified) in some form, from its original terms. Loan Modifications as opposed to a Repayment Alternative Plan, focus on the structure of the mortgage. Possible modifications include; converting an adjustable interest rate to a fixed rate, decreasing the rate, or extending the length of loan from say, 30 years to 35 years. In the rare exception, a lender may forgive a portion of the principle. Yea right, don’t hold your breath on that last one! :)

While in theory this sounds like the cure to the Mortgage Meltdown nightmare we’re in, the problem is, Loan Mods will probably end up NOT actually helping that many desperate home sellers as we’re led to believe.

Here’s why:
First of all, it’s a political smoke screen. Loan Modification is being pushed hard by the government. That fact alone almost guarantees failure or very little chance of success. The Feds are bullying the banks into offering Loan Mods to their clients without understanding some very elementary facts about the root causes of the mortgage mess, but we'll cover that at another time.

Back to why Loan Mods won’t help stem the tide of foreclosures.

1: Many of these sellers still won’t be able to make their payments even at a reduced monthly payment. About 30% of loans modified in the 1st quarter of 2008 were 60 days delinquent within 5 -6 months.

2: Lenders trying to appease their shareholders and watch their bottom line will only go so far to help the borrower.

3: Investors that make up a large portion of these delinquent loans don’t qualify for any assistance from the lender at this writing.

4: Many homeowners are so “upside down” that they have to be convinced it’s in their best interest to stick with a loan that greatly exceeds what their home is worth.

5: Scores of homeowners in trouble don’t know about the loan mod option or would not take the considerable time necessary to work through their particular lenders program.

So there you have it. I hate to be a wet blanket, but don’t think the Loan Modification option is all that it’s hyped up to be. It will help some distressed homeowners to be sure, but it will be such a small percentage to even make a small dent in the mortgage meltdown tsunami, we now face.

If you have any questions about buying or selling a home in Ann Arbor contact the Wickland Group. Our experienced team of Realtors, marketers and support staff is here to help you with your real estate needs in Ann Arbor and throughout Washtenaw County. Expect only the best customer service and support from the team, taking all of the stress out of your real estate experience!

by Steve Wickland

A Silver Lining: Affordable Real Estate in Ann Arbor

I was reading surfing the net today and came across an article about the S&P estimating housing prices fell an average of 18 percent in November 2008. You all know where my mind raced “Great, my home value has dropped even more.” What I didn’t stop to consider however, was how that affects those trying to buy a new home for the first time!

Yesterday, The National Association of Realtors indicated that median home prices fell 15 percent last month to $175,400, down from $207,000 a year ago. What that means to the potential home buyer is that combined with historically low interest rates and a 10 percent down payment, anyone who buys a median-priced home would save $254/month compared to a year ago. The Realtor’s home affordability index in November showed its best reading since 1993; Speculation is that when the December 2008 numbers are incorporated, it will show that housing is as affordable as it was in 1973!

And so it goes… What I wouldn’t give to be in the market to purchase a new home in Ann Arbor!

If you have any questions about buying a home in Ann Arbor or interest in knowing how affordable owning your first home can be, contact the Wickland Group. Our experienced team of Realtors, marketers and support staff is here to help you with your home buying or selling needs in Ann Arbor and throughout Washtenaw County. Expect only the best customer service and support from the team, taking all of the stress out of your real estate buying experience!

by Tammy Mayrend

New Business Opportunities With Ann Arbor Spark

Who says we're in a recession, or that business is standing still? That's not the news in and around Ann Arbor.

Ann Arbor Spark is opening a new business incubator next month and is looking for new tenants for its downtown Ypsilanti incubator. The space is set up for 15 to 20 start up companies and would require a two-year lease commitment.

To contact Ann Arbor Spark about the space, call 734-527-9153 or contact them at http://www.annarborspark.com/.

The business space provides tenants:

• a phone system
• T-1 Internet connection
• a full kitchen
• two conference rooms
• administrative services
• free parking

Cubicles run from $295-395 per month. Spark Ypsilanti also offers virtual office space for $95 a month, which includes a mailing location and the use of conference rooms. Spark East will serve eastern Washtenaw County.

If you have any questions or comments regarding opportunities in Ann Arbor, its many perks or amenities, or real estate specific questions, please feel free to contact The Wickland Group at http://www.wickandgroup.com/.

by Tammy Mayrend

Barclay Park - Affordable Elegant Living in Ann Arbor

Just a heartbeat from downtown on the Northeast side of Ann Arbor, Barclay Park condominiums offers home owners a quiet brownstone-style living complete with resort style amenities. Located convenient to US23 and M14, residents have easy access to major highways leading to the Metro Detroit area. Children in the community attend the highly acclaimed Ann Arbor school district.

Some features of Barclay Park Condos are:

· Homeowners enjoy a large community club house with tennis and racquetball courts and basketball courts
· Barclay Park has 291, 2 and 3 bedroom condominium units.
· Condos include spacious balconies and 1 to 2 car attached garages.
· Size ranges from 1,120 to 2,050 square feet
· Price ranges from $159,000 to $240,000

The charming village square setting and luxurious fountain give homeowners in Barclay Park a hint at what home-ownership has in store. The quiet area is convenient to many parks and allowing residents can take advantage of the Oakwood Nature Trails, the breath taking Matthaei Botanical Gardens and nearby Fuller Park.

This complex would be a fantastic location for U of M Physician Residents or U of M students in the North Campus area, and is convenient to Concordia University, Eastern Michigan University and Washtenaw Community College as well.

To see condos for sale in Barclay Park or other Ann Arbor condominium living options, please contact the Wickland Group.


By Tammy Mayrend

Sweetwater Cafe is now open in Northeast Ann Arbor!

Hey all you "sweetaholics" Good news! Especially for us residents of the Northeast area of Ann Arbor. Located in the Plymouth Green Crossings center at Plymouth and Green Road-this is the 3rd and latest Sweetwaters store for Ann Arbor, with 2 others located in downtown Ann Arbor and in the Kerry Town Market & Shops. Menu items include: Specialty coffees, teas, frozen coffee drinks, yummie pastries, bagels,doughnuts,cakes and accessories. Yumbo! I don't know about you, but I'm getting a hankering for a nice warm latte and blueberry scone. Fat Free of course! Hope to see you there!

If you have any questions or comments regarding Ann Arbor's many perks and amenities feel free to contact me @ http://www.wickandgroup.com/

By Steve Wickland

Don't Get Ripped Off On Moving Day

A call came in from a client who had just closed on her first home a few hours earlier in the day. She was crying and very upset. The reason: Her moving company was holding all her worldly belongings hostage, until she came up with an additional $800. In cash or a wire transfer no less! She was told "they had under- estimated her job and she had to pay up or they would not unload her belongings". Unbelievable! Well, she ended up paying these crooks the additional money as she felt she had no choice.

Her story really bothered me. Not only did I feel badly for my client, but I felt helpless to advise her. So, I did some research and came up with sort of a “Don’t Get Ripped Off By Your Moving Company” check list that I will provide from now on to all of my clients who have a move in their future.

1: Read and Understand Thy Contract!
Is it a binding or non–binding contract? A binding contract means the price is set-no extras should be charged to you. Non-binding and you are liable for any extras and a percentage of those extra fees will be due at delivery. What are your insurance coverage amounts and limitations in case your belongings are lost (i.e. stolen) or damaged? What are considered “Extras” What about damage to your home you’re leaving or moving into? I’ve personally seen movers trash a home!

2: Get at least 3 Bids!
Get multiple bids and don’t automatically go with the cheapest bid. Especially if it’s WAY LOWER than the others. Get in-person bids. I would stay away from online bids. They’re ok for a ball park estimate, but have a rep from the company come out to your place for an in person estimate.

3: Be an educated consumer!
Check these 2 sites out before you do anything! http://www.protectyourmove.gov/ and http://www.moverescue.com/ Also, have the company provide you with a copy of the federal booklet “Your Rights and Responsibilities When You Move” If they hem and haw about providing this booklet to you-RUN!

4: I want my stuff!
If your moving company does attempt to collect more than their bid, by holding your belongings hostage, you have the right to have them re-weigh your load-AT NO CHARGE. Call the National Conference on Weights and Measures at 402-434-4880 for more info on this.

While the majority of moving companies are reputable, consumer complaints were up last year. So, do your due diligence and what should be one of the happiest days of your life, won't be ruined by a less than an ethical moving company!

For additional moving tips or if you have any real estate related questions or concerns, please feel free to contact The Wickland Group, an experienced team of Ann Arbor Realtors at http://www.wicklandgroup.com/.


By Steve Wickland

Home Won’t Appraise? No Problem!

As 100’s of Ann Arbor and Metro Detroit area homeowners flock to their favorite mortgage professional in hopes of refinancing their current loan, more than half won’t qualify. Even with a solid credit history and employment, these folks are being turned down. Why? Their home won’t appraise for the new loan; No lender worth their “wing tips” will loan money on the property unless it meets their underwriting criteria. ....mainly appraising at a certain dollar amount.

Nationwide and especially here in the metro Detroit and Washtenaw County areas home values, like our 401-k’s, have been plummeting. Many of these folks have zero equity or are “upside down” (owing more on their home than its worth) so, these unfortunate people really have few, if any options, for taking advantage of these historically low interest rates we’re seeing.

There is a way though, where an appraisal is not required. If your current mortgage is an FHA/VA backed loan you can refinance the mortgage on your home and not worry about a home appraisal - period! Yup, that’s right. No Appraisal is needed-Thanks to the “FHA Streamline" program, but there are a couple of catches. “Darn” you say! “Those dastardly catches!” Come on, there are always catches, but they’re not too bad :)

To Qualify:

• You must have a FHA or VA Loan now.
• You have to have a job.
• Your credit score must be at least 580.

To find a lender that handles FHA/VA Loans or if you have any real estate related questions or concerns, please feel free to contact The Wickland Group, an experienced team of Ann Arbor realtors at http://www.wicklandgroup.com/.

by Steve Wickland

Ann Arbor Michigan is Freezing...

It is so cold in Ann Arbor Michigan right now that…

The Starbucks on Main and Liberty was serving coffee on a stick!

Gratzi, BD’s Mongolian BBQ and Conor O’Neill’s had to use plastic cutlery so patrons wouldn’t walk around with spoons or forks stuck to their tongues!

When turned on, showers throughout Ann Arbor were producing hail instead of hot water!

Much of Michigan awoke Wednesday morning to a deep freeze, with temperatures and wind chills plunging into negative numbers. For the next several days, The National Weather Service says temperatures throughout Ann Arbor and Washtenaw County are supposed to climb only into the single-digits, with overnight air temperatures getting as low as 20 degrees below zero after wind chill values are factored in.

So grab your blankies and hot cocoa, a cuddle-alert is in effect for Ann Arbor!


by Tammy Mayrend

New Resource For Home Buyers

If you are thinking of buying a home in Ann Arbor, the U.S. Department of Housing and Urban Development (HUD) launched a new Web site to assist home-buyers with improving financial literacy, sustaining healthy home-ownership and achieving financial security. The site is a great resource for anyone who wants to improve their financial situation when buying a home!

Join the ranks of hundreds who have realized that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family. Start your dream today, by becoming well prepared, there is never a bad time to invest in real estate and buy a home. Property ownership equity accounts for more than half the wealth in the United States.

Start your search for a new home in Ann Arbor with The Wickland Group today!


by Tammy Mayrend