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Strange Weather, Strange Real Estate Market! - 04/26/12 07:35 AM
The amount of Canton Michigan Homes for sale on the market continues to be low. The most common conversation and questions that I am having with my Buyers is, "Aren't there any more houses to look at?" We find ourselves in an overbalanced market with more Buyers than Sellers. Just as strange as the weather we have had recently, is this strange real estate market that is unbalanced yet not a sellers market. Home values and sales are continuing to rise slightly in the Canton & Plymouth area, which Realcomp MLS accounted for in the data they released a couple of weeks (1 comments)
BOA Leading Short Sale Approval?? - 04/25/12 08:20 AM
Short Sales have become the new norm in this market, and Bank of America is a major player in this market. I was shocked to read that BOA is leading the way in Short Sale approval according to Bloomberg. I can honestly say that I have not experienced an easy or fast short sale approval with BOA. I hope that this report is accurate and that all lenders will follow an easier path to short sale approval.
"BOA approved 5,276 short sales in January, topping JPMorgan Chase & Co. (JPM) (JPM), with 2,976, and Wells Fargo & Co. (WFC) (WFC), the biggest (2 comments)
Metro Detroit Market Looking Up! - 04/19/12 04:07 PM
The news for Canton & Plymouth real estate market continues to be look good this spring. Realcomp, the local MLS just released a market report that shows good signs. Home prices continue to increase, days on market is decreasing, and year over year 6% more homes sold!
MARCH SALES STATISTICS INCREASE BY ALMOST 6%:
All sales were up 5.9% from 5,295 in March 2011 to 5,606 in March 2012. Here's a brief preview of other March sales statistics: The median sale price for Metro Detroit rose by 18.7% as compared to last year. Of the 5,606 All MLS sales closed (0 comments)
Michigan Lawmakers Get It Right! - 04/03/12 03:42 PM
The Michigan legislator voted 38-0 on bill 349, which creates another filing period for the homestead exemption. Many home buyers in Canton, Plymouth, and Ann Arbor have been unfairly penalized when they purchased a home from a bank or homeowner who vacated their home. In Michigan, only one home can be taxed at the homestead rate. Once a home is no longer occupied the local cities could raise the property taxes to the non-homestead rates, which in many instances raised their future taxes by 30%. Owners could only file for the homestead rate in May, causing many homeowners to overpay their (0 comments)
Another Arrogant Bank - 04/03/12 07:45 AM
Another uncertainty is throwing a wrench in several of my Canton & Plymouth Michigan buyers purchase contracts. Fannie Mae and Freddie Mac have been claiming that their foreclosure sales are exempt from all local taxes, including county and state transfer taxes. Fannie & Freddie are claiming exemption through an argument that they are quasi federal government agencies. However, this argument has been recently shot down by The Michigan Treasury. With the Treasury ruling that Fannie & Freddie must pay the local transfer taxes, many Buyers are left in a state of uncertainty. In the F & F addenda contracts, contain a clause (1 comments)
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.