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Happy Independence Day  I hope your holiday weekend plans will include some time to relax and spend time enjoying the company of your family and friends. If you have no plans yet and are looking for ideas, visit Michigan.org. You'll find tons of information on some really cool places to visit here in Michigan. If you're thinking of staying closer to home, remember the 2009 Ann Arbor Art Fairs will be going on next week.

 

The fairs consist of the Ann Arbor Street Art Fair, the original celebrating its 50th year, the Ann Arbor Summer Art Fair, the State Street Art Fair and Ann Arbor's South University Art Fair. Taken collectively, the Ann Arbor Art Fairs comprise one of the largest art fairs in North America and attract over 500,000 visitors to the area each year. Join the fun ... July 15-18th!

 

 

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Real Estate News    I've included a graph in this months newletter showing a comparison of sold homes in various Washtenaw County school districts. Sales data was compared from May 2008 to May 2009 sales according to the Ann Arbor Board of Realtors. As you can see, most districts had a decrease in the number of sold homes from 2008. However, there were a couple of bright spot, the Ann Arbor & Chelsea districts showed an increase in the average sales price over 2008.

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KEEPING YOUR CAR IN SHAPE   If you're like a lot of people I know, you may be deferring a new automobile purchase and holding on to your current vehicle instead (much to the auto companies' dismay) . Here are some helpful tips for getting the most mileage from your car and saving fuel as well.

Keep Your Engine Properly Tuned   Fixing a car that is noticeably out of tune or has failed an emissions test can improve its gas mileage by an average of 4 percent, though results vary based on the kind of repair and how well it is done. Fixing a serious maintenance problem, such as a faulty oxygen sensor, can improve your mileage by as much as 40 percent.  Fuel Economy Benefit: 4% Equivalent Gasoline Savings: $0.15/gallon

Check & Replace Air Filters Regularly   Replacing a clogged air filter can improve your car's gas mileage by as much as 10 percent. Your car's air filter keeps impurities from damaging the inside of your engine. Not only will replacing a dirty air filter save gas, it will protect your engine.   Fuel Economy Benefit: up to 10% Equivalent Gasoline Savings: up to $0.37/gallon


flattirereapair11.gifKeep Tires Properly Inflated   You can improve your gas mileage by around 3.3 percent by keeping your tires inflated to the proper pressure. Under-inflated tires can lower gas mileage by 0.4 percent for every 1 psi drop in pressure of all four tires. Properly inflated tires are safer and last longer. 

Fuel Economy Benefit: up to 3% Equivalent Gasoline Savings: up to $0.11/gallon

Use the Recommended Grade of Motor Oil   You can improve your gas mileage by 1-2 percent by using the manufacturer's recommended grade of motor oil. For example, using 10W-30 motor oil in an engine designed to use 5W-30 can lower your gas mileage by 1-2 percent. Using 5W-30 in an engine designed for 5W-20 can lower your gas mileage by 1-1.5%. Also, look for motor oil that says "Energy Conserving" on the API performance symbol to be sure it contains friction-reducing additives.   Fuel Economy Benefit : 1-2% Equivalent Gasoline Savings: $0.04-$0.07/gallon

Drive Sensibly  Aggressive driving (speeding, rapid acceleration and braking) wastes gas. It can lower your gas mileage by 33 percent at highway speeds and by 5 percent around town. Sensible driving is also safer for you and others, so you may save more than gas money.  

Fuel Economy Benefit: 5-33% Equivalent Gasoline Savings: $0.19-$1.23/gallon

Observe the Speed Limit   While each vehicle reaches its optimal fuel economy at a different speed (or range of speeds), gas mileage usually decreases rapidly at speeds above 60 mph. As a rule of thumb, you can assume that each 5 mph you drive over 60 mph is like paying an additional $0.20 per gallon for gas. Observing the speed limit is also safer.   Fuel Economy Benefit: 7-23% Equivalent Gasoline Savings: $0.26-$0.86/gallon

Remove Excess Weight   Avoid keeping unnecessary items in your vehicle, especially heavy ones. An extra 100 pounds in your vehicle could reduce your MPG by up to 2%. The reduction is based on the percentage of extra weight relative to the vehicle's weight and affects smaller vehicles more than larger ones.  Fuel Economy Benefit: 1-2%/100 lbs Equivalent Gasoline Savings: $0.04-$0.07/gallon
 www.fueleconomy.gov


num4_sold.gifTips for buying FORECLOSURES            

Foreclosed houses are everywhere you turn in this market. But while their sticker prices are low... buying one can be a risky endeavor. This is mainly because you won’t have the same protections as you would for a conventional house. Consumer Reports magazine suggests four ways you mortgagebill.jpgcan protect yourself if you’re in the market for a foreclosed home:

1. Don’t pay a fee for property listings. You can find free information on foreclosed homes in your area by checking with a local agent. Usually there will be someone who specializes in foreclosed properties at the broker’s office. This person is a great free resource.

2. Invest in a home inspection. This is always a good idea whenever you buy a house, but for a foreclosed  property it is especially the case. The property may have been vandalized. Fixtures and appliances may be missing. Also, with utilities shut off it will be impossible to test for the water pressure in the shower. Try to arrange for the utilities to be turned on before you buy. The inspection will cost between $250 and $400, but it will end up saving you if there is a problem with the home’s structure or its systems.

3. Don’t assume the sale is final. In some states, a homeowner may have up to 180 days after the foreclosure to pay any outstanding debts and reclaim the home even if it has been bought by someone else.

4. Buy some title insurance. The title insurance will protect you against any liens that you might not know about. It will also prevent a previous owner from making a successful claim on the house after you buy it.
http://rismedia.com/wp/2008-08-17/four-tips-for-buying-foreclosures   marshall loeb 

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