What's to know about Kalamazoo?

Looking for information about the history of Kalamazoo? Want to know all the places you can get ice cream this summer? Or places to commune with nature? The following link is a good place to start:

http://www.mlive.com/kzgazette/answerbook/index.ssf/2009/05/answer_book_2009_whos_who_in_k.html

Or click on the "Why Live Here" button of our website at

http://www.jaredarnold.com/

Have a great Summer!!!!!!!!!

$8,000 Tax Credit As Down Payment

FIRST TIME HOME BUYERS CAN USE THE $8000 TAX CREDIT AS DOWNPAYMENT!!!!

More great news for first time home buyers: Now, not only can you get an $8000 tax credit for closing on a new home by November 30, 2009, you can get that tax credit front-loaded into your down payment!

The Kalamazoo Parade of Homes

The Kalamazoo Parade of Homes is coming up soon! The dates are June 12 - June 20. It's a great way to stay current on:

• new developments in construction
• new colors
• new appliances
• new building materials
• design and decorating ideas

All in all, it's a pretty cheap date. DeAnna and I will be helping staff Cornerstone Construction's Parade Entry at 9145 Richland Woods Drive in Richland. We hope to see you there. For a list of builder participants and sceduled dates and times, see the Home Builder's Parade site at http://sites.google.com/site/kalamazoohomepage/parade-of-homes

A First-Time-Buyer's Perfect Storm

The conditions are just plain perfect for 1st time homebuyers right now:

1. Choices are many: Slow sales over the past few years have resulted in a large number of homes on the market.
2. Prices are low: Slow sales and the large volume of foreclosed properties and short sales have pushed prices down to 1999 levels!
3. Interest rates are terrific: 5% or better; the lowest rates in years!
4. An $8000 tax credit is there for the taking if you have not owned a home in the past 3 years: You only have until November 30, 2009 to take advantage, so don’t miss out! The following link lays out the whole program with a good section on frequently asked questions: http://www.federalhousingtaxcredit.com/2009/home.html You can even get a tax credit that exceeds your tax liability!!!!!!!!!
   
   Call us at 488-0236 (Jared) or 488-0102 (DeAnna) or email us at Team@JaredArnold.com for further assistance.
   
   

SHAPE THINGS UP . . . OR LEAVE IT TO THE NEXT OWNER?

Fixing things up prior to going on the market is ALMOST ALWAYS what you want to do. Not always, but nearly. Here’s why:

1. In today’s crowded real estate market, you need to compete well. There are lots of tired, cluttered,
houses in need of TLC out there already. Don’t join them!
2. Too many buyers have a difficult time visualizing what a home would look like fixed up, cleaned up,
uncluttered. Make your place easy on the eyes.
3. Many buyers do not have remodeling or redecorating skills—or the time, if they do have the skills. We
have seen home buyers breathe a big sigh of relief when they walk into something fresh and easy to move
into. Make yours that kind of experience!
4. Your hesitation to pre-judge what someone else would like (in paint and carpet colors, for instance) is a
misplaced concern. Just keep the colors neutral and you will save your buyer a hassle they didn’t want.
Think about it: You don’t want to hassle with it. Neither do they!
5. The cost of shaping things up doesn’t have to be huge. Check out the following link for good examples of
shaping up, cost estimates and “before” and “after” photos:

http://www.realtor.org/rmohome_and_design/articles/2009/0905_home_bestroommakeovers

As always, gives us a call (269-488-0236) for advice on your particular home. We’d be happy to come out and suggest low cost ways to make your home show its best.

Pending Home Sales Rebound

The Pending Home Sales Index, a forward-looking indicator based on contracts signed, rose 6.3 percent in December and was 2.1 percent higher than December 2007, according to new data released by NAR (the National Association of Realtors). The association’s Housing Affordability Index, which shows the relationship between home prices, mortgage interest rates and family income, rose 10.9 percent to the highest level on records dating to 1970.

The largest gains in pending sales occurred in the South and Midwest, which also experienced the biggest improvements in affordability. The index in the Midwest jumped 12.8 percent in December, but is 1.2 percent below the level recorded a year ago. In the South, the index climbed 13.0 percent and is 1.6 percent above a year ago. The index in the Northeast slipped 1.7 percent in December and is 14.5 percent below December 2007. In the West, it fell 3.7 percent but is 17.5 percent higher than a year ago.

Lawrence Yun, NAR’s chief economist, said the modest rebound was spurred by buyers taking advantage of lower home prices and low mortgage interest rates. “Significant uncertainty clouds the housing market despite improved affordability conditions. For a sustainable housing market recovery and, hence, sustainable economic recovery, we need a significant housing stimulus and mortgage availability for qualified borrowers,” Yun says.

In a related report, the U.S. Census Bureau finds that the U.S. homeownership rate was 67.5 percent in the fourth quarter of 2008, down slightly from 67.9 percent the previous quarter.

This report is a re-print of an article published February 3, 2009 in the MemberConnect email newsletter published by the Council of Residential Specialists.

GREAT ECONOMIC NEWS!

In case you missed it, there’s been encouraging southwest Michigan employment news in the Kalamazoo Gazette lately. It even showed up on page one!

The first news article reported a speech delivered to the Kalamazoo Rotary Club by George Erickcek, economist at the W.E. Upjohn Institute for Employment Research. According to Mr. Erickcek, the Kalamazoo area is headed in the right direction: job growth is bucking national and state trends with 600 jobs gained in 2007; we rank third in the state (behind Ann Arbor and Lansing) in the percentage of residents aged 25 to 34 who are college graduates; Western Michigan University, Kalamazoo college and the Kalamazoo Promise all contribute to our potential for creating a “knowledge-based economy”, a key element to economic growth.

This assessment was followed two weeks later by twin employment announcements, one by long-time local employer Fabri-Kal and one by new player Kaiser Aluminum. Fabri-Kal stated it will add 160 to 200 new jobs to its current local work force of 115. It will move into a facility previously occupied by Mead Paper which has been vacant since 2001. Kaiser announced it will create 300 new jobs in aluminum extrusion, using 435,000 s.f. at the Mid-Link Business Park.

Next came an announcement by AT&T that it will expand its customer service center in downtown Kalamazoo and add 110 workers. Then one by K&M Machine-Fabricating Inc. in Cassopolis that it hopes to fill 120 positions in the next 18-24 months. K&M will manufacture housings for wind turbines as demand for wind generated electricity continues to grow.

What’s more, new jobs have a “ripple effect.” Mr Erickcek states that each manufacturing job usually creates one additional local job. All of this supports the argument that the Kalamazoo area will manage well and prosper into the future. As the economic contribution of Upjohn-Pharmacia-Pfizer continues to diminish from its historic levels, diversification in employment is very welcome news indeed!

www.jaredarnold.com