The US Department of Treasury, under the Making Home Afforable program has outlined a standardized process for short sales and will incentivize both the loan servicer and the borrower. This really takes the short sale program from the dark alleys to the front window.
Foreclosure Alternatives for Borrowers Eligilbe for MHA outlines the process and includes "borrower incentives to cover relocation expenses to homes that are affordable" as well as " incentives for servicers to pursue alternatives to foreclosures".
The long term tax issues were wiped out last year and these new developments make much more sense than foreclosure, and can eliminate "strategic foreclosure" in many instances saving taxpayers and homeowners millions by selling these homes as opposed to them sitting vacant.
Borrowers also benefit by not having a foreclosure on their credit history and avoid totally nuking their credit score.
Give us a call 888.767.3380 or email info@changingstreets.com if you are interested in avoiding foreclosure.
The Flint Farmers Market is leading the " Love My Farmers Market " contest being sponsored by Care2.com and local harvest. The lead may look impressive, 500 votes, but Carrboro is an extremely tough competitor. (for those that do not know Carrboro is basically attached to Chapel Hill, the home of the UNC Tarheels that beat my beloved Spartans in the D for the NCAA title, So a little Flint Style Payback would be good).
Please take a minute and click below to vote, then take another minute to email the link to your friends co-workers, relatives, and more importantly visit the market, you will thank yourself.
Only 12 less sales in Genesee County in July of 2009 compared to July of 2008! Not bad all things considered.
According to the Flint Area Association of Realtors MLS service there were 375 sales in Genesee County in July, 2009 at an average sales price of $72,164. In July of 2008 there were 387 sales at an average price of $80,015.
Was there really a 10% price drop? Probably not, there are just so many FLINT foreclosures in very distressed areas selling for less than $10,000.00 that is putting a ton of downward pressure on the macro numbers. It is more of demand shift than a price drop.
Flint MI, Foreclosure listings total over 600 in the Flint area. Do you really want a list that long sent to you or would you rather search with pictures map and value information- with no sign in required? That is what I thought, search Flint foreclosure listings the easy way, get the assistance you want, and work with a group that has sold over 1,000 foreclosed homes in the last three years.
That is Smart, Easy, Sane Forclosured home purchasing.
West Bloomfield now requires the registering of vacant homes. This is not exclusive to West Bloomfield as other municipalities are searching for revenue. This is what I just received from the North Oakland County Board of Realtors:
Vacant Home Ordinance Recently the Township of West Bloomfield, as well as other Oakland County municipalities, has enacted an ordinance which requires that "vacant" homes MUST be registered with the municipality. There are fees involved when registering such a property, as well as fees involved when such a property is not registered. If the fees become delinquent, they could become a lien on the property similar to assessments for weed cutting, garbage, etc. For example, the West Bloomfield ordinance contains many requirements which you should be aware of. For instance, the property management company must be located within 30 miles of the subject property. It also provides for inspections and issuance of "new" certificate(s) of occupancy. Should you require a copy of the West Bloomfield ordinance please let us know.
Lovely!
This is still not as good as the City of Detroit putting stickers on the doors of vacant homes notifying owners of violations. If the violations are not done in 24 hours the City of Detroit will do them and charge the owner! Seriously!
Michigan has lakes, great infrastructure and pathetic politicians...text me your opinion : ) lol.
Flint Farmers market is in first place in the Care2.com farmers market contest based on visitor voting. The winning market not only gets the honor of being voted the nations number one farmers market but the also receive $5,000.00 to improve the market!
Not only is Flint standing tall but, Port Austin, Holland, Mt Clemens and Royal Oak Farmers markets are all in the top 50! pretty outstanding.
You can vote for your favorite farmers market at www.Care2.com, the farmers market contest is on the right!
Searching Lake Fenton Homes is one of my favorite passtimes. Having lived on the lake for four years and being in the is business I can tell you that one of the greatest pastimes on Lake Fenton is real estate gossip! Most of it is false. And the number one lesson is just because the home is listed for that....well, it means nothing!
There are currently 53 homes on Lake Fenton for sale, there are some screaming deals, some amazingly overpriced homes and some that will definately test the bottom of the market. The only thing for sure when speaking about Lake Fenton Homes for sale is that they are only worth what someone will pay!
There are currently 502 Grand Blanc, MI homes for sale. This is less than a 12 months supply which is coming down. Through the end of July 2008 there were 246 Homes sold in Grand Blanc, vs. 319 Grand Blanc Homes sold this year to date.
The other interesting part is the number of Grand Blanc MI luxury homes sold. While last year only one home listed over $500,000 sold this year three have already closed and another is pending.
January 1- July 30, 2008
Number of Homes Sold in Grand Blanc: 246
Average List Price of Homes Sold in Grand Blanc: $154,742.00
Average Selling Price of Homes Sold in Grand Blanc: $148,044.00
Average Size: 1852 square feet.
January 1- July 30, 2009
Number of Homes Sold in Grand Blanc: 319
Average List Price of Homes Sold in Grand Blanc: $127,323.00
Average Sales Price of Homes Sold in Grand Blanc: $118,558.00
Average Size: 1927
There are some screaming deals when it comes to Homes for Sale in Grand Blanc, over 41 homes are currently on the market for under $50,000 and what you can buy for $200,000 is crazy, (the same house was over $325,000 only 30 months ago).
Short Sales in Michigan have become very common. The banks see short sales as a great alternative to foreclosure and sellers can benefit from selling a home worth less than the mortgage. That is the happy side!
Performing a short sale in Michigan takes expertice, patience and a ton of knowledge. A short sale is asking the bank to accept a payoff on a mortgage less than the current balance. There is much due dilligence that needs to be done for a short sale to be successful. A seasoned perfessional can make this happen, an inexperienced agent can make it a nitemare. As an agent and a broker I have been involved in both, unfortunately more nitemares than professional experiences. With those experiences in mind, and knowing we did not currently have the horsepower to perform short sales and provide clients with Smart, Easy, Sane experiences we went out and found us a very experienced bank agent, Ryan McFarlane.
Ryan is heading up the ChangingStreets.com Michigan Short Sale division. His team has worked with banks on over a thousand transactions, they have the horsepower we lacked in the past.
If you find yourself in a situation where you need to sell your home and the mortgage balance is higher than the value you need to speak to our Short Sale team. We do not get paid until closing and it will be no cash out of your pocket. To find out more about how you can avoid foreclosure give us a call.
There is nothing better than coming home from work to the lake. 30 minutes after leaving my office I am on the boat taking a cruise to unwind and take the kids to swim. It is amazing, I did the lake house thing three years ago, a really solid move for my family. Early morning kayaking, weekend skiing, evening cruises, jumping off the dock...it is good.
One of the good things about todays market is that there are again some pretty affordable options when it comes to lake living. This segment of the market has been on fire for the last 10 years and has cooled and prices (like me ) have relaxed. There is no doubt that long term this should be a very stable market, it is not housing it is a lifestyle, in most areas the greatest concentration of wealth is around the lake giving it stability. This is a good way to invest into the market, the benefits are way greater than just financial.
Surf some of Kalamazoo areas Lake Front Homes here, it's fun!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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