Now Is The Best Time To Buy!

Still trying to time the market in an effort to find the absolutely best time to buy? Wait no longer – now is your time.

You’ve probably been watching prices dip over the past several years and are wondering – will they dip further? Perhaps, but you are in the midst of some of the lowest interest rates in 20 years and by waiting you may find that you have really lost.

Why is this?

Because as the economy rebounds the demand for mortgages will rises and with it interest rates. It’s the old law of supply and demand.


Let’s take a mortgage of $175,000 . . .


With a 30-year fixed-rate mortgage of 4.25 percent, you will have $861 principal and interest mortgage payment (assuming less than 20% down, this being your mortgage amount, no PMI or taxes included).

Wait and let that interest rate rise to 6 percent and your monthly payments increase to $1049 – a $188 per month increase. Over the life of the loan, this results in a whopping $67,795.

Still want to wait . . ?

To put this into further perspective, this means that your $175,000 home will have to drop below $147,000 to maintain the same monthly mortgage payments. This is a 16 percent drop!

Do you think this will happen?

Statistics are showing that housing prices have begun to stabilize.

This doesn’t even include the tax advantages of ownership, but I digress . . .

Getting back on task, this is the first time in four or five years that home prices and low interest rates have combined to make home ownership an affordable dream for you.

Tired of waiting?

I’m happy to help!

If you’d like to see what
homes are selling for in your area of interest, CLICK HERE



Renee Badall, Realtor
Edward Surovell Realtors
Office: 734-761-6600
Mobile: 734-754-3221

Mortgage Rate Update

30yr fxd - 4.50% APR - 4.525%
20yr fxd - 4.375% APR - 4.401%
15yr fxd – 3.725% APR – 3.802%
10yr fxd – 3.50% APR – 3.610%
30 yr FHA – 4.625% APR – 4.950%


Compliments of:

Charles E. Chapell
Vice President - Mortgage
United Bank and Trust
2723 South State Street, Suite 210
Ann Arbor, MI 48104
Office: 734-214-2728
Email: cchapell@ubat.com

Edward Surovell Realtors: The President's Club

Edward Surovell Realtors is pleased to introduce the President’s Club, a new recognition program for sales leaders. The President’s Club is a prestigious award to acknowledge the success of the very top producers within the company.

All Edward Surovell Realtors sales associates are eligible for membership in the President’s Club, based on sales peformance within a designated time period from September through August. An awards luncheon in a unique setting will then be held in October for the President’s Club members. For this inaugural year, the luncheon was held on November 11, 2010.

The President’s Club recognizes the very best in professionalism, hard work, and service, making it a benchmark for true achievement within the Edward Surovell Realtors organization.

Congratulations to the following agents:


Ann Arbor
Andra Anteau
JoAnn Barrett
Nancy Bishop
Ron Herman
Alex Milshteyn
Candy Mithcell
Marc Rubin
Dave Rukkila
Gordon Taylor

Adrian
David Poucher
Shirley Smith

Chelsea
Pat Fielder
Christine Fitzsimons
Cheryl Latshaw
Tammy Lehman

Jackson
Tracey Connors
Heather Herndon
Sue Hoffman
Lynn Sajdak
Chris Spencer

Monroe
Mike Begeman
Scott Harris
Tom Wagner

Tecumseh
David Corder
April Gunder
Jan Hammond
Jim Hammond
Paula Mamayek
David McCrate
Fred McCrate
Sandy McCrate
Carl Poling
Pam Poling
Kay Prong

Top 5 Reasons Why You Need Title Insurance

What is a Title?


As generally used; the rights of ownership and possession of particular property. In real estate usage, title may refer to the instruments or documents by which a right of ownership is established (title documents), or it may refer to the ownership interest one has in the real estate.


What is Title Insurance?

Insurance against losses resulting from a title defect discovered after property has been conveyed from buyer to seller and a new mortgage taken out by the buyer. This protects the borrower against claims not identified in the title search, or claims not specifically listed as exemptions to the title insurance policy.


Top 5 Reasons Why You Need Title Insurance

1) A title insurance policy is recommended when you are selling a property. Most sales contracts call for the seller to convey clear and marketable title to the purchaser and back it up with an owner's policy of title insurance. Major title company underwriters have bigger pockets than an individual seller.

2) The title commitment for title policy will tell all parties what needs to be done to give the purchaser an owner's title policy in their name.

3) A title insurance commitment for title policy will disclose the status of the real property taxes on the subject property. A property could be lost if taxes remain unpaid for three years.

4) A title insurance commitment for title policy will disclose recorded documents that affect title. The commitment may disclose that the seller has four outstanding recorded mortgages, however seller has declared to listing realtor that there are only two. The seller and the realtor will need to work on obtaining discharges of mortgages for the two mortgages which the seller states are not owed.

5) The title insurance commitment for title policy is important in assuring that home ownership is free and clear of any right or claims of prior owners.

Surovell Settlement and Title Agency

Surovell Settlement and Title Agency, LLC, is a full-service title insurance company offering a complete range of title and escrow services for the public, the construction industry, attorneys, banks and other lenders, and the real estate industry. Surovell Settlement and Title is a partnership between Edward Surovell Realtors and the Title Alliance, Ltd.

This partnership benefits the public and clients of Edward Surovell Realtors by providing title and escrow services on a flexible schedule, with the ability to provide closings throughout southeast Michigan.

Experience and expertise are fundamental to every service we provide, from application to closing.

Dexter, Michigan - A Community Description

Dexter is a village in Washtenaw County, just outside of the greater Ann Arbor area with a population of 3,291 people. Dexter actually predates the state of Michigan by 13 years, having been founded by Samuel William Dexter on June 10, 1824. Conveniently located along the banks of the Huron River, the village of Dexter offers the cozy amenities of small town living, but enjoys the comforts of it's close proximity to Ann Arbor and easy access to major highways. Residents take advantage of the community festival twice a year known as Dexter Daze in August and Apple Daze in October.

While Dexter holds a rich history within Washtenaw County, it also features some popular parks and lakes that attract visitors year round. Locals enjoy many lakes in Dexter Township. Such popular lakes include: Silver, Half Moon, North Lake, West Lake, part of Four Mile lake, Portage and Base Lakes. Portage Lake holds a historical significance within the Washtenaw County, as it was the place where the Indians came up the Huron River and portaged their canoes to other bodies of water in the area. Dexter also offers some of the most beautiful parks and recreational trails in Michigan. Locals get back in touch with the beautiful landscapes of Michigan through Hudson Mills Metro Park, Monument Park, Warrior Creek Park, Spring Valley Trout Park and the ever-tranquil Peace Park.

You will find attractive new construction homes, waterfront homes and historical gems in downtown Dexter.

SEARCH FOR HOMES IN DEXTER, MICHIGAN

Mortgage Rate Update

30yr fxd - 4.25% APR - 4.301%
20yr fxd - 4.00% APR - 4.101%
15yr fxd – 3.625% APR – 4.702%
10yr fxd – 3.50% APR – 3.610%
30 yr FHA – 4.375% APR – 4.850%


Compliments of:

Charles E. Chapell
Vice President - Mortgage
United Bank and Trust
2723 South State Street, Suite 210
Ann Arbor, MI 48104
Office: 734-214-2728
Fax: 734-214-3856
Email: cchapell@ubat.com