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Local police take aim at carjackings - Canton Public Library

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Thursday. September 5. 199 > 04 E<br />

#1F<br />

REAL ESTATE NEWS<br />

Owners apply different str<strong>at</strong>egies when sales stall<br />

By Bnuwon<br />

start writer<br />

So, you're planning to move and<br />

you've listed the bouse (or sale <strong>at</strong> a<br />

(air market price, carefully select-<br />

ing an able real est<strong>at</strong>e agent to ban-<br />

die tbe deal.<br />

Everything is in order and the<br />

wait begins, a trying time during<br />

which you hope for a reasonable of-<br />

fer th<strong>at</strong> signals a sale.<br />

Alas, too often sellers find there is<br />

no such signal in today's real est<strong>at</strong>e<br />

market. A sale does not m<strong>at</strong>erialize<br />

in a timely manner.<br />

Owner response to such a dilem-<br />

ma varies widely, depending upon<br />

the motiv<strong>at</strong>ion for selling a home in<br />

the first place.<br />

Alice, a 50-year-old Farmington<br />

Hills woman who is in the midst of a<br />

messy divorce, is ambivilant about<br />

selling the family home where she<br />

and her husband, an auto executive<br />

who left a year ago, reared two chil-<br />

dren.<br />

Tbe bouse, a contemporary two-<br />

story structure, has been on the mar-<br />

ket 10 months. Tbe current listing<br />

expires in two weeks.<br />

Alice, wbo doesn't want ber full<br />

name used for legal reasons, would<br />

like to sell tbe home because divorce<br />

proceedings cannot be finalised until<br />

then But she is in no hurry to do so<br />

because ber husband pays tbe<br />

monthly mortgage and supplies her<br />

with a living allowance, buying Alice<br />

time to adjust to divorced st<strong>at</strong>us in<br />

the supportive comfort of the family<br />

home.<br />

'WHAT I'D LIKE to do is stay<br />

put," she said, knowing full well tbe<br />

home must be sold as part of the<br />

pending divorce.<br />

Buyers regularly tour the house<br />

but an offer of purchase has yet to be<br />

made, even tSbugh the asking price<br />

bas been reduced from $345,000 to<br />

$505,000. "I guess IH just have to<br />

hang in there," Alice said.<br />

For now, she refuses to lower the<br />

price any further and when the list-<br />

ing comes due, she intends to relist<br />

with a new agent.<br />

P<strong>at</strong> and Jim Glionna of West<br />

Bloomfield are more intent on sell-<br />

ing their. 3,000-square-foot, tri-levei<br />

home which has been reduced $5,000<br />

to an asking price of $249,900. They<br />

first listed for sale in May."<br />

Tbe GBonnas have purchased<br />

property In downtown Toronto and<br />

are currently building a home there.<br />

Thev are depending cm cash from tbe<br />

sale of the home here to complete<br />

construction of the new bouse. If it<br />

does not sell, they are considering<br />

refinancing, according to P<strong>at</strong> Qlion-<br />

na. . . . .<br />

"We thought about renting (the<br />

West Bloomfield house). We decided<br />

no We'll sell. When it didn't sell, we<br />

again thought about renting But we<br />

decided to stick urith our original de-<br />

cision. which was to sell.<br />

"Now we have no intention of<br />

renting. We'll keep it on the market<br />

until It finally goes." she said. "Hey,<br />

it's only'been four months."<br />

THE GUONNAS do not rale out<br />

reconsidering renting the house if it<br />

does not sell by early next year when<br />

their new home in Toronto is expect-<br />

ed to be completed. Then, tbey will<br />

move their furniture, which P<strong>at</strong><br />

feelf adds to the selling potential of<br />

the house here.<br />

For now, the house is regularly<br />

shown to interested buyers and the<br />

couple is considering another possi-<br />

ble reduction in asking price<br />

P<strong>at</strong>ricia and Steve Cramer of Bir-<br />

mingham have bad their remodeled<br />

storybook home listed for sale since<br />

March following an intense six<br />

mnniha during which they converted<br />

the basement into an exercise, laun-<br />

dry and storage room complete with<br />

a built-in wine vault<br />

The house is one of four for sale in<br />

their neighborhood Nobody, accord-<br />

ing to P<strong>at</strong>ricia Cramer, fias had luck<br />

in selling While hordes of buyers<br />

regularly tour their home, and they<br />

have reduced the selling price from<br />

$275,000 to $264,500. there have<br />

been no offers of purchase.<br />

The listing with their current real-<br />

tor comes due in mid-September<br />

"We're not going to relist. We've<br />

decided to stay. We're not under any<br />

pressure to move." she said.<br />

The couple originally decided to<br />

sell in order to purchase property in<br />

either Birmingham or Bloomfield<br />

Hills and construct the Victorian-<br />

styled home of their dreams<br />

"'We were more or less testing the<br />

market. Now we're going to wait un-<br />

til the market picks up," she said.<br />

A stimul<strong>at</strong>ed market may be just<br />

around the coroor, the result of re-<br />

cently reduced interest r<strong>at</strong>es for<br />

home loans, according to Allen iCing,<br />

president of tbe Western Wayne Oak-<br />

land Associ<strong>at</strong>ion of Realtors.<br />

"The lowered r<strong>at</strong>es have produced<br />

a very favorable impact, the fuel for<br />

home purchase among first-time<br />

buyers and people wanting to move<br />

up," King said.<br />

Soil contamin<strong>at</strong>ion demands thoroughInvestig<strong>at</strong>ion<br />

When we purchased oar condomi-<br />

nium, tbe developer denied anything<br />

abet tbs Uvtii of rontaminanti in<br />

the toils around oar condominium.<br />

We have since been advised by the<br />

Department of N<strong>at</strong>ural Resources<br />

th<strong>at</strong> there are high levels of mercury<br />

and lead Ln the soil th<strong>at</strong> might pose a<br />

safety hazard. The board of direc-<br />

tors is perplexed as to wh<strong>at</strong> to do<br />

and whether it most notify its mem-<br />

bers.<br />

This is a very complex legal ques-<br />

tion Suffice it to say th<strong>at</strong> to tbe ex-<br />

tent th<strong>at</strong> the board is aware of po-<br />

tential safety or environmental haz-<br />

ards <strong>at</strong> the condominium, It should<br />

notify the members of assocition<br />

as soon as possible, advising them as<br />

to wh<strong>at</strong> precautions can be <strong>take</strong>n.<br />

The board has a responsibility to<br />

pursue those persons wbo may be re-<br />

sponsible for the contamin<strong>at</strong>ion <strong>at</strong><br />

the site and should also be fully<br />

apprised of its legal liabilities and<br />

responsibilities in connection with<br />

„tbe contamin<strong>at</strong>ed areas. Contact<br />

should be made with the Department<br />

of N<strong>at</strong>ural Resources after consulta-<br />

tion with legal counsel as to a course<br />

of action to be <strong>take</strong>n in concert with<br />

condo queries<br />

d<strong>at</strong>ion?<br />

It would appear th<strong>at</strong> the <strong>at</strong>torney<br />

has an ethical responsibility to dis-<br />

(.unflicm uf iiitei est thai<br />

Robert M.<br />

iV M Melsner<br />

the DNR against those persons re-<br />

sponsible for the contamin<strong>at</strong>ion.<br />

We have just determined th<strong>at</strong> the<br />

<strong>at</strong>torney for our managing agent Is<br />

also the <strong>at</strong>torney for our associ<strong>at</strong>ion.<br />

These facts were never disclosed, ei-<br />

ther by the managing agent or the<br />

<strong>at</strong>torney. The board is apset th<strong>at</strong><br />

there are still certain members on<br />

the board wbo have allegiance to the<br />

management company b<strong>at</strong> believe<br />

th<strong>at</strong> nothing has been done th<strong>at</strong> was<br />

improper. Wh<strong>at</strong> is your recommen-<br />

elose any<br />

would appear to have arisen in re-<br />

gard to his"" represent<strong>at</strong>ion of tte<br />

managing agent while <strong>at</strong> tbe same<br />

time respresenting the associ<strong>at</strong>ion<br />

Full disclosure would have been ap-<br />

propri<strong>at</strong>e and consent to such client<br />

represent<strong>at</strong>ion should have been ob-<br />

tained from the respective parties<br />

In this case, it appears th<strong>at</strong> not only<br />

the <strong>at</strong>torney, but the management<br />

company, was remiss in disclosing<br />

the rel<strong>at</strong>ionship between them. Keep<br />

in mind th<strong>at</strong> the managing agent as<br />

well as the <strong>at</strong>torney owe a fiduciary<br />

duty to the associ<strong>at</strong>ion th<strong>at</strong> appar-<br />

ttv—tida bwn—bleached.—Under<br />

ently—tras -<br />

those circumstances, the board has<br />

every justific<strong>at</strong>ion to be upset and<br />

should evalu<strong>at</strong>e its altern<strong>at</strong>ives in<br />

deciding whether to change <strong>at</strong>tor-<br />

neys and managing agents<br />

Robert M Meisner is a Bir-<br />

mingham <strong>at</strong>torney concentr<strong>at</strong>ing<br />

his practice in the areas of condo-<br />

miniums, real est<strong>at</strong>e and corpo-<br />

r<strong>at</strong>e law<br />

CLASSIFIED REAL E6TBTE CLA66IFIED REAL E6TPTE GLA66IHED REAL E6TQTE<br />

500 Help Wantad<br />

ATTENTION<br />

Expanding sppaanos distributor Na*<br />

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Uons M U M Must be 20 JTS OW.<br />

or older Kg* school grad and acta<br />

to (tan immedi<strong>at</strong>ely, and 2 year res-<br />

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I'M0 oar month lo Wan with rapid<br />

advancement Pliont 11-8pmonfy<br />

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AUTO TECNOAN tor ful<br />

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preferred Bel rale, 122 80 dor<br />

ATTENTION 18"- 21 yr olds.<br />

FREE TRAINING<br />

JOB SXIILS AVAILABLE IN<br />

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• Health Occup<strong>at</strong>ion<br />

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• Other Courses Avails<br />

Contact<br />

WAYNE WESTLANO<br />

COMMUNITY SCHOOLS<br />

For quskflcstiona<br />

595-2314<br />

An Equal Opportunity Employer<br />

TIRE MOUNTER 8 OIL CHANGE<br />

PERSON - pan time Duties alao in-<br />

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starting pay S5 20 per hour Pis u s<br />

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500 Help Wanted<br />

0 tar qu<strong>at</strong>-<br />

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A-1 CLEANING >e fart<br />

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ferred Ful time, Morv-S<strong>at</strong> M/hour<br />

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BAB STAFF/PLAYROOM ATTEND-<br />

ANT,'PORTERS needed Apply <strong>at</strong><br />

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BORDERS BOOK SHOP - NOVI<br />

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Itta Send reaume to: General Mana-<br />

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BUILDING TRADES INSTRUCTOR<br />

Redtord Union Schools. aapart-<br />

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BUSINESS ANO<br />

ACCOUNTING MANAGER<br />

E<strong>at</strong>apiuned and growing tow Urn lo-<br />

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5-BTo,——<br />

AUTO MECHANIC needed lor major<br />

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pay & benefits. Europeen Auto.<br />

21*25 Woodward Ave. Ferndafe<br />

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AUTO MECHANIC (2)<br />

Experienced Efectrtcer 8 engine di-<br />

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(amal accounting (general ledger,<br />

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CARPENTERS WANTED<br />

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Csl after 6pm<br />

517-223-8318<br />

GAR/TRUCK PORTERS<br />

Several lul time poaNtona avaflabie<br />

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flu Mu<strong>at</strong> ba 20 or older with excel-<br />

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CHILD CARE WORKER<br />

Mon, thru Fn I0em-3pm Btoom-<br />

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We arc a lua aarrtce X-Ray deeier<br />

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CASHIER<br />

PART TIME<br />

Apply ki person<br />

Erb LUMBER CO.<br />

11970 Farmlnglon Rd<br />

LNOnla, MR. 48180<br />

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caehleflng 8 p<strong>at</strong>ient lafellon posi-<br />

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Experienced 2 die 3 bto». 5&-89 Na-<br />

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500 HalpWant» homa Pan<br />

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»7 00 per ho** Cel 881-0192<br />

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Royal Oek. Ml 48088-0084 By<br />

Mon , Sept 18,1991 548-8325<br />

An Equal Opportunity Employer<br />

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Pay negor» 8 ag<br />

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An Equal Opportunity Employer<br />

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_ 2T780 feoM Road Sie >08 , Or<br />

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