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wayne county: Foreclosure Sales Hit the Skids in Wayne County Michigan - 02/02/09 06:29 PM
Wayne County Sheriff Warren Evans has stopped all foreclosure sales because there is no way to know which homes are covered under TARP, the Troubled Asset Relief Program passed by Congress which supercedes Michigan foreclosure law.
Last week Evans sent a letter to Michigan's Gov. Jennifer Granholm requesting she declare a state of emergency in Wayne County to address the growing home foreclosure crisis.
Today Evans announced that to proceed with sales not knowing whether the homeowner has had an opportunity to modify their loan would put him in a position of violating federal law. Hard to say whether … (1 comments)

wayne county: August Metro Market Report - 09/17/08 10:51 AM
Even with the news of the Fannie Mae and Freddie Mac bailout, there is still strong activity and confidence in our local market as sales remain 11.7% higher than last year for the eighth straight month in 2008, according to RealComp, our local MLS. When comparing this year's results to the record-breaking sales of August 2005, sales are only down 1.1%.

Additionally, Pending sales this year are up in all counties, with a 45.1% increase in Wayne County and 25.9% in Oakland County over the same period in 2007. Compared to 2005, pending sales are actually up 19.8%!

It … (0 comments)

wayne county: 1st Time Buyer Alert, Part 2 - 08/25/08 11:13 AM
As I wrote in the July Market Report, Congress passed the new American Housing Rescue and Foreclosure Prevention Act to help spur activity and encourage buyers, and particularly first time buyers, to take the homeownership leap. Besides providing a tax credit of up to a $7,500 (10% of the purchase price) for home buyers, what are some of the other considerations to keep in mind?
According to the Wall Street Journal:
The full credit is available for those taxpayers making less than $75,000 ($150,000 if filing joint) Buyers cannot have owned a home as their principle residence in the past three … (0 comments)

wayne county: February Posts Increased Home Sales - 03/12/08 11:13 PM
Did you see the headlines in the Business section of the Detroit Free Press this morning?
Feb. home sales leap 12.8% 
Citing statistics from Realcomp, our local real estate MLS, 3,591 homes and condos in the Detroit Metro area were sold in February 2008 versus 3,184 in February 2007.
President Karen Kage acknowledged with prices being "down as much as 15% in some areas and interest rates stabilizing, buyers are beginning to step forward."
On the local front (according to my rough estimate), sales of homes & condos in Northville were up 26% to 24 from 19 over February 2007 while in … (1 comments)

wayne county: Stylish, Upscale Springwater Condo With Loft | Northville MI Real Estate - 01/11/08 07:58 PM
Stylish Upscale Springwater Condo Northville MI Real EstateLocation: Springwater ParkUPSCALE LIVING In This Mint 2 Bedroom With Loft End Unit Featuring A Vaulted Great Room With Dual Gas Fireplace, Beautiful Hardwood Flooring & Gourmet Maple Island Kitchen With Upgraded Appliances and Corian Counters Throughout * Master Bedroom With Walk-In Closet * Crown Molding in Both Bedrooms * 2 Car Tandem Garage & Tons of Guest Parking * In The Heart Of It All Within Walking Distance To Fine Dining and Shopping & Convenient To All Expressways!View Virtual Tour Online at MichiganMoves.comInformationContact InformationDebra & Jo, The MichiganMoves.com Team(866) 910-8600 x1Contact Reply FormForward … (1 comments)

 

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