A Macomb County Michigan real estate blog.

Macomb County MI real estate - Your agent can narrow down your search for foreclosures only.

2008-08-21T05:36:45Z

To my knowledge, there isn't a way for buyers searching the internet (Realtor.com, Homegain, the local MLS feed) to enter search criteria for bank owned homes (foreclosures) only.

In Macomb County MI there are 2 Multilist data sources: Mirealsource™ and Realcomp™. Some real estate agents belong to one. I pay dues and belong to both.

If you are looking for foreclosure homes only (bank owned homes) in Macomb County and want to weed out the private sales, short sales and homes for renting you will have to ask the buyers agent you chose to sort through the list for you. This list can then be emailed to you, faxed to you, or hand delivered.

As of this morning there are 7293 homes listed for sale or lease in the Mirealsource™ database. Of those homes, 1055 are tagged with "Bank owned" or "Government owned" designations.

If you want to narrow things down further by school district or price range or city then your agent can also do that for you and provide you with a list.

An example: There are currently 5 homes for sale in Chesterfield Township MI, within the Lanse Cruese school district with a price range between $100,000 and $120,000 that are bank or government owned.

View the homes in Chesterfield Township used in the example

Searching for homes on the Internet can be frustrating for home buyers who are trying to narrow down their search by details of either the ownership or the features of a home. Your buyers agent can be a tremendous help in this effort and also save you time and precious gas money. (How many of you drive from address to address to look at the outside of the homes first?)

Pick up the phone and call your agent, or compose an email detailing how you would like your search conducted. That's what we're here for. It's what we enjoy. It's also part of our duty to you the homebuyer.

©Kris Wales RE/MAX Advantage 1, Inc. A Macomb County MI real estate agent

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Articles by Kris Wales about buyers agency in Michigan.

Homes in the search example are courtesy of Mirealsource™ via brokers recipricocity and Mirealsource™ participating agents and brokers.

Utterly and completely personal - the heck with a real estate post today.

2008-08-20T15:49:07Z

I've been a bit melancholy lately. Some would call it empty nest syndrome, but if that is what it is, it hit 2 years after the last child left the nest.

Something I haven't shared publicly before: My husband and I have a blended family and between us we managed to bring into the world 5 children. The oldest, my stepson, is 33 years old. The youngest, my baby- ex GI Nick, is 25. We've also been blessed with 3 pretty darned terrific grandchildren and are overjoyed that the 4th will be arriving this winter.

Earlier today I was in BabiesRUS shopping for a baby shower gift for a neighbor. Of course I did what any expectant grandmother would do. I spent quite a bit of time browing the aisles and daydreaming about the new addition. (Grandmas have to have a lot of things for their home also.)

As I was walking to the checkout counter I spotted a small knit cap. On it was one word.

Peace.

I teared up. I remembered that not too long ago I watched as ex GI Nick went off to a very large sandbox courtesy of the US Army. I remembered that I have 2 darling grandaughters and one precocious grandson who are going to be growing up in this topsy turvy world. I thought about friends who have sons and daughters who are off now away from home serving their country.

Peace

What a simple yet powerful word, adorned on a tiny little knit cap.

May their children and yours be blessed with peace in the world.

Photo swiped from my son Rick without permission, who originally swiped it from me with permission.

How a Monday Morning Motivator by Michael Thornton kicked me in the tush!

2008-08-11T07:31:45Z

One of the authors that I regularly read is Michael Thornton. Michael is a home inspector in the Nashville Tennessee area and always makes me laugh, makes me think, and has something that sticks to me after I've read his articles.

Today he wrote his weekly "Monday Morning Motivator" article and the message to us was that the fear of failure never leads to success.

That message kicked me in the tush. I have another blog that I haven't been playing with too much, mainly because I have such a hard time meandering my way around WordPress. (Meandering wouldn't be the correct word after all. I pull my hair out, curse, and grab more coffee to keep me focused whenever I have to edit or add something to the coding.)

For quite a while I've wanted to add a section to the sidebar of the blog that could be a simple. easy to use place for readers to leave comments or ask questions. Should be easy enough right? Not for me. I made it quite the adventure.

I searched for and found a wordpress plugin. (Thank you Vladimar Prelovac).
Downloaded the plugin and uploaded it to the proper folder.
Unzipped the plugin, and then went to my control panel to activate it.
I edited the options, hit submit changes and crossed my fingers.

Refreshed, refreshed and refreshed my blog. No plugin. Nothing. Re-read the installation process. Checked off each step that I did, and didn't have any leftovers. (Kind of like when you're putting something together and at the end realize you have leftover parts...not good)

Got up for third cup of coffee with Michaels message echoing in my head "Fear of failure..."

Spent another 40 minutes going through all of the areas of my control panel one by one. (Still hearing Michaels words in my head and stubbornly refusing to give up.)

Found the widget panel. Duh. It's a widget. I had to move the newly created widget over into my sidebar. ::headslap::

Refreshed my blog again and shouted with excitement. I didn't fail! It's there and I'm anxious to see if anyone notices it and uses it.

Thank you Michael. Your motivator this morning made all the difference in the world to me.

So, how is everyone elses Monday morning so far?

Macomb County MI latest news on home sales - first 10 days of August 2008

2008-08-11T05:32:01Z

August can oftentimes be a slow month for home sales, as many buyers are getting in the least of their summer vacations and families are preparing their children to go back to school.

I was curious this morning to see how many homes have sold to date for the month of August 2008 in Macomb County MI and logged into our Multilist service, Mirealsource™, to take a look.

So far this month 149 homes have sold in Macomb County. (I stripped out the homes that have rented, the statistics quoted are for homes that sold.)

The lowest priced home sold for $11,000 in the Rice & Millers subdivision in Warren MI and was bank owned.

The highest priced home sold for $550,000 in the Clear Spring Lake subdivision in Shelby Township MI and was owned by a builder.

What was astounding to me is the change in the mortgages used by home buyers during this month. 44 of the homes sold were with buyers using FHA mortgages, and 3 used their VA benefits to obtain mortgages. Almost 32% of the homes sold in the past 10 days have been to home buyers using the outstanding FHA & VA mortgages.

In comparison, last year during these same 10 days only 8 homes were sold with FHA mortgages, and none sold using VA mortgages.

If you would like more specific information about home sales in your neighborhood in Macomb County please don't hesitate to contact me. I would be happy to answer any questions you may have in a non-pressured manner.

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Harbor Drive - Chesterfield Township MI

2008-08-07T06:33:37Z

One of my favorite streets in Chesterfield Township is east of Jefferson on Harbor Drive.

Harbor Drive winds along Anchor Bay and has residential homes that have both canal side
properties as well as lake front homes.

Lovely canal side homes feature quick access to Lake St. Clair.

Wow! Look at the view these lucky homeowners have on the lake front side of Harbor Drive.

Harbor Drive in Chesterfield Township (Macomb County) MI is just a few short minutes to the north gate
of SANG.

(Selfridge Field - Selfridge Air National Guard Base)

Search lake & canal front homes for sale in Chesterfield Township MI

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Chesterfield Township MI homes sold in July 2008

2008-08-04T15:30:37Z

It was a bit of a slower month in Macomb Countys Chesterfield Township for home sales, but all in all I am still feeling good about the local real estate market and the wonderful bargains to be had for home buyers.

From glancing at the prices of the homes that sold in July (2008) it appears that many first time home buyers took advantage of the low interest rates, good FHA and VA mortgage progams, and a plentiful supply of homes in Chesterfield Township.

During the past month 28 residential homes sold. The lowest price home sold at $70,000 and the highest price of a home sold in the township is being reported at $239,000.

This nice ranch home located at 25657 Briartown Boulevard in the Briartowne Subdivsion sold for $127,500 with the seller paying $3825 of the buyers closing costs, prepaids and/or tax prorations.

(For those who are interested, the Briartown Subdivision has many homes for sale and is a wonderful subdivision with its own community pool and clubhouse. Please feel free to call or email me if you have any questions about this area.)

Condominiums also sold in Chesterfield Township during the month of July. Nine of them sold, with the lowest one reportedly sold for $34,300 and the highest sold for $128,450. Sounds like bargains all the way around for some lucky home buyers!

All sold information courtesy of Mirealsource™ and it's participating brokers and real estate agents and is deemed to be reliable but not guaranteed.

Search for homes in Chesterfield Township MI

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One of those "You need me" phone calls with a bit of a twist...

2008-08-02T09:46:41Z

We've all received those phone calls from eager people wanting to sell us their latest and greatest SEO service, "lead generator" service, and "I'll make you #1" service...

Yesterday afternoon I recieved one of those calls but they were offering a different kind of product entirely: Ghost writing.

Yes, you heard read it correctly.   A gal who said she was from Michigan called to say she read my blog (my other blog) and linked over to here on this blog, and knew without a doubt that she could be helpful to me. This is what she said could be of benefit to me:

    Save me time by submitting to my blog/blogs 3 fresh content articles per week.

    Save me money by charging $20 per article for her service which would naturally free time for me to          spend doing other real estate related duties and increase my income.

I wasn't the least bit tempted. I told her that I'm sure someone else would find her service helpful, and that perhaps she had found a niche in the blogging world that would bring her business but that it wasn't for me. She then asked the "closer" question: "What were my objections to saving time and money by using her service?" This is what I told her:

    I write for me, and for my local consumer.

    You are a Michigan resident, but not local to me, and would not know my local market.

    You are not a licensed real estate agent, nor have you been a real estate agent.

    I would be personally liable for anything you wrote. In other words, if you stuck your foot in my mouth
    and offended someone or worse, I would take the heat. (Goodness, I can do that myself!)

    Last but not least, it is important to me that people who contact me know me through my words, not
    yours.

She didn't have good objections to my objections and we ended the conversation on a cheerful note, with her wishing me well and likewise my wishing her well in her new endeavor.

After I got off the phone I wondered...how many people who have blogs would be tempted? Is this going to be a new niche cropping up over the next several months as real estate professionals finally learn about the power of blogging?

Kris Wales - a Macomb County MI real estate agent (who will continue to write her own articles of interest to consumers)

Goodbye Pudge, and thank you.

2008-07-30T16:59:54Z

A couple of hours ago it was announced that the Detroit Tigers have traded catcher Ivan "Pudge" Rodriguez to the New York Yankees for relief pitcher Kyle Farnsworth.

I try not to get too wrapped up in emotions when trades are made, as they are part of the business of baseball. But this time my heart is heavy. Pudge came to the Tigers as a free agent when it wasn't cool to come to Detroit. In my eyes he became the face of the new Detroit Tigers.

I'll miss him. Very much.

Welcome back Kyle. Hope you have fun here.

Foreclosure sale in St. Clair County MI - one for the "timeline" record books

2008-07-29T06:07:23Z

Wow. WOW. I still have trouble believing it, and it happened to my buyer client. The bank owned home below (overgrown trees and shrubbery included :-) was sold to my buyer client in just 15 days from start to finish. The home is located in Marysville MI (St. Clair County)

Here is what transpired during the process:

Offer made and submitted to asset manager/bank (HSBC)

Counter offer made by asset manager and conveyed to the buyer.

Counter to the counter offer was made by my buyer to the bank/asset manager.

"Best and final" offer asked for by HSBC.

"Best and final" offer submitted to HSBC and accepted by them.

Signed documents sent by HSBC via email.

Title company contacted, inspection period passed, utilities changed into buyers name.

Final water bill ordered, verification of property taxes conducted, closing date set.

Signed deed received. Closing for the new homeowner.

I have to tell you, even with a cash buyer I have never had a foreclosure sale in our Metro Detroit area go as smoothly or as quickly as this one.

It made me want to knock on every piece of wood I came in contact with during the process.

Thank you to those at HSBC for their quick responses and most especially to Greg Goforth of Classic Real Estate in New Baltimore MI for his diligence and hard work.

Do you want to search for Metro Detroit area homes for sale?

Macomb County MI first time home buyers - I won't be asking if you are pre-approved for a mortgage anymore...

2008-07-28T05:57:00Z

...I'll be asking you if you have 3 1/2% of an estimated purchase price in your bank account.

The down payment gift assistance programs that have been so helpful to Macomb County MI first time home buyers over the years are probably going to be taken away from these purchasers by our "we know what's best for the public" government. (The new housing bill, with this little tid-bit included, has been passed by our representatives and is now heading to President Bushs desk for a signature.)

Goodbye Nehemiah - it's been fun working with you. Ameridream? Ditto. To the employees of those companies: I feel for you. Our entire state has been hit hard by lay-offs and job losses. I see it in the eyes of our residents every day. Good luck to all of you and thank you for being there for my first time home buyer clients over the years.

To the future first time home buyers in Michigan: You can still receive a gift of money for the down payment of your new home if the gift comes from a family member, close friend or employer. Keep a paper trail of the gift money, your mortgage lender will need to see that it is truly a gift and not a loan.

What I find completely amazing about all of this? Most of the home buyers that I've been a partner with in their real estate transactions have had the money to come up with a minimal down payment to meet FHA requirements. They chose to utilizie the down payment gift assistance programs to keep the money in their bank accounts tucked aside for emergencies.

I called that smart. Very smart. Our government calls it stupid.

From my understanding potential home buyers have until October 1st, 2008 to take advantage of the opportunity provided by programs such as Nehemiah and Ameridream. After that, plan on having 3 1/2% of a purchase price as a down payment prior to begin looking for a home.

When you hear me ask if you have a down payment don't be surprised. It will be the first question I ask of you when we meet and talk about your housing dreams.

© 2008 Kris Wales a Macomb County MI real estate agent "News about the Down Payment Assistance Programs" and how it will affect first time home buyers.

S.S.S. (Short Sales Skinny) A new challenge for home buyers in Macomb County MI

2008-07-22T05:27:46Z

Disclaimer 1: I don't market homes that are in a short sale position. Why not? I don't have the expertise and feel strongly that anyone who works with sellers in this situation should know what the heck they are doing!

Disclaimer 2: I haven't had a buyer make an offer on a short sale. Why not? All of the home buyers I've worked with this year have had time frames that needed to be met to be in to their new homes.

After reading much about short sales, and listening to real experiences being told by the agents who are working with these sales I have learned enough to know the following and pass along the S.S.S. to you:

A home owner puts his home on the market for less than what they owe on their mortgage (or 2 mortgages, or 3 mortgages.)

The sellers real estate agent and the seller then put together a package for the lender (and 2nd lender, and third lender if applicable) to explain the hardship that the seller is facing, the falling property values in the area and the seller also sends along all of their financial information. (Think of this as the documentation for applying for a mortgage, but with reverse intentions)

A home buyer hears about the house for sale that is priced attractively and makes an appointment with his buyers agent to view the home. Home buyer then decides to make an offer on the home. Seller accepts the offer and the purchase agreement is forwarded over to the lender (and 2nd lender, and 3rd lender, if applicable)

Home buyer and the buyers agent wait. The first week goes by and everyone is still patient because of course they've been told to expect this wait. The 2nd week goes by and still everyone is displaying patience. On to week 3 and the buyers agent has been calling the sellers agent asking if there is any news, and has the package(s) that has been submitted to the lender(s) been reviewed? The sellers agent states "Have patience". Week 4 comes around and perhaps the package has been reviewed by someone with authority to do so at the first lender. (I'll stop mentioning lender #2 and #3. You get the idea by now.)

Weeks 5-8 the lender orders a BPO. (Brokers price opinion, meaning that the lender, normally in another state, wants to make darn sure that the house is really worth what the seller, the sellers agent, the buyer and the buyers agent in this local area feel it is worth.)

The lender(s) decides one of two things: That the house is worth what the purchase offer indicates, or that the house is worth more than what is being offered for the home.

Guess what happens if they decide it is worth more? Google "short sales" and you'll have so much to read that your eyes will hurt.

Did I forget to mention the fact that some of these transactions don't allow seller paid concessions to the buyer? Did I also forget to mention that while the buyer is waiting for a response that the interest rate they were quoted upon mortgage application has probably now expired?

Purchasing a short sale can be a good thing for the patient buyer and the seller. Always ask upfront what the expected time table is, and be aware of the challenges and changes that can take place during the process.

Go in to the process with your eyes wide open. Ask your agent for their experience with them, and seriously consider a long sit-down with your agent to discuss your purchase options in this ever changing real estate market.

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Buyer agency in Michigan - What does your buyers agent bring to the table?

2008-07-21T05:48:02Z

I can write all day about first time home buyers and repeat home buyers in my neck of the woods in Michigan (Macomb County) but I really wanted to write today about the intangibles that a buyers agent brings to you, the consumer, when purchasing a home.

When I represent you as a buyers agent I take on the responsibility to care about you and your home purchase from start to finish. You come first. It's that simple. I do not represent the sellers, their agent, the home inspector, the lender or anyone else who is a party to the transaction. I represent you.

Here are some of the things that I do to look out for you:

Keep in touch with your lender. Continually. You will always know what is going on with your financing.

"Flag areas" of interest to you. When a home comes on the market you'll be the first to know about it. Likewise, if a home has a price reduction, you will know about it.

Discover the history of the homes for sale that you are interested in. Is the home currently in foreclosure? How many price reductions has the home had? Are their currently liens on the home? Knowing as much as I can about a home you are interested in helps us tremendously in the negotiation process and in other areas.

Accompanying you: I will be there with you for your home inspection standing out of the way to allow your inspector to go over the home with you. I will also be there with you for the final walkthrough of your new home prior to closing. Do you want to go back through the home to measure wall space for furniture or windows for shades? I'll make the appointment and gladly take you through as many times as you need.

Mandatory repairs will oftentimes be needed if you are purchasing with a FHA or VA mortgage. I've been representing buyers for years and am informed about FHA guidelines. I keep an eye out for those things that I am fairly confident that FHA or VA will cite as a no-go. So many homes on the market today are bank owned and as such, you will be responsible for repairs to the homes. I will advise you throughout the process so that you are not surprised by anything that happens.

Accurate tax information: There is much online now from the various cities and township assessors offices however I go one step further to ensure that you are receiving accurate property tax information. I go to the offices of the assessor and verify the amount with them. I don't like surprises when it comes to this information and I'm sure you won't either.

Back to the city offices: If your work schedule does not permit you to visit the assessors office after closing to turn in the property transfer & homestead forms I will do that for you. You will receive a copy from me hand delivered after I have done so for your records.

This list is not all inclusive. Each person, each transaction is different. There are many more intangible ways that a buyers agent can help you and be of value to you. A good buyers agent is a partner to you throughout the home purchase process.

Interview and choose a buyers agent to work for you.

Macomb County MI homes for sale

Mt. Clemens MI - Arts & Crafts festival this Friday and Saturday

2008-07-16T09:51:18Z

The city of Mount Clemens MI will be hosting an arts and crafts festival this coming Friday and Saturday (July 18th and 19th) in the heart of the downtown area.

The weather looks to be spectacular for this outdoor event, although bring your sunglasses and water bottles. (It should be a hot time in the city!).

In the paved area within the center square there will be a local musician, Rick Charming, performing at 11:30 on Friday . (If the name sounds familiar it's also because he has been known as Mr. Bachelor to many of you and is my oldest son.) I'll be there to listen to him and have the small cooler of water bottles for him. If you spot him, please wish him a happy day-after birthday!

Parking for the event is best off of the west side of Gratiot in many of the public parking lots. I always look forward to going to these events throughout the summer as it showcases the wonderful businesses in the heart of Mt. Clemens, as well as the many area artists.

Kris Wales - A Macomb County MI real estate agent.

Chesterfield Township MI - Muirfield Manor Subdivision

2008-07-14T06:24:53Z

Chesterfield Township Michigans Muirfield Manor Subdivision is one of the completed subdivisions in our area that has a nice mixture of homes: Ranch style, Split-Level and Colonials.

This location in Macomb County is within the Lanse Creuse school district and also offers to a prospective home buyer a range of prices and sizes in the homes:

Since April 1st of this year 2 homes have sold within Muirfield Manor. One of them was an approximately 1600 square foot ranch that sold for $179,000. The other was a bank owned foreclosure. It was a split level design of approximately 2250 square feet on a corner lot that sold for $184,275. (The seller paid $10,725 in concessions to the buyer of the home, which I have taken into consideration with the quoted final sales price.)

I had the opportunity to view the split level home that was a foreclosure and believe the buyers of this home received an outstanding deal on this home. It generally needed some landscaping "loving" and an all around good cleaning, paint and carpeting.

Currently there are 7 homes on the market in Muirfield Manor. They range from a bank owned foreclosure that is priced at $164,900 (a 1600 square foot ranch) to a lovely 2400 square foot split level that is priced at $269,000.

Muirfield Manor in Chesterfield Township MI can be found just south off of 24 Mile Road, east of Gratiot.

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Have you been to the city - municipal headquarters in Warren MI lately?

2008-07-10T07:28:10Z

It's been a while since I had to go to the city center in Warren MI to pick up any type of documention and I was happily surprised by the sight of children playing in what I call the splash fountain.

When the city planners and residents of Warren MI decided to build their new municipal headquarters they did a fabulous job of incorporating all of their buildings and the ease of citizens in accessing them in one area:

The municipal building in Warren MI

Free parking garage

There are also several condominium subdivisions to the eastern side of the city headquarters center in Warren, many of them the lovely townhouse style that are popular and affordable in the city of Warren.

Chat about Macomb County MI

Search Macomb County MI homes for sale with MLS provided data

I never leave home without this...

2008-07-07T08:50:46Z

I have had this as part of my buyers package for a couple of months now, and also have copies in my briefcase for those that I meet that are in the "curious about.." stages of purchasing. Please feel free to print it out to give to your buyer clients. (You may want to edit or alter it to fit your local purchasing practices). All I ask is that you don't put it in your own websites so that there isn't duplicate content running rampant to penalize us.

*****************************************************************************************

PURCHASING FORECLOSURES – TIPS AND GUIDELINES

Prior to making your offer:

Always consider an offer on a bank owned home to be your “best and last” offer as many of these homes are already bargain priced. We are seeing many multiple offer situations on these homes. You may only get one chance to bid on them – make it your best offer from the start of the process.

Bank owners and/or asset managers require full proof of funds (if a cash offer) or a pre-approval for mortgage letter with any offers submitted.

They also may require a certified or cashiers check payable to the listing office prior to reviewing an offer to purchase.

Bank sellers will want to see a closing date of no more than 30 days from the date of first offer to purchase.
If you experience a delay in your mortgage approval or other reason for delaying the closing you will probably be charged a fee for each day that the closing is postponed. The bank / asset manager may also withdraw the contract and put the home back on the market.

After your offer is submitted:

Offers on bank owned homes generally take 3-7 business days to receive a response back from the lender and/or asset manager. A signed acceptance of your offer may take an additional 3-7 business days.

Bank addendums & terms to the contract of sale must be agreed to by the purchaser and signed. (There are a few exceptions to this, for the most part their terms are inflexible.)

Home inspections

If the utilities are not on in the home they will have to be turned on in your name if you desire to have a full inspection on the home. (A full inspection is always recommended.)

Consider your offer to purchase with “As-Is” in mind. Banks/asset managers will normally not make any repairs to the homes.

Inspection contingencies are normally 5-7 days from the date of sellers acceptance. (Rarely do they allow more time.) You must be ready to proceed with a home inspection quickly in order to meet the deadline.

Closing on your home:

Closing date, time and location are set by the title company hired by the bank owners. We have very little flexibility, if any, in choosing a time that is preferable by the purchaser.

Many bank owned homes close in “escrow”. We will arrive at closing, sign all necessary documents and if the bank signed documents have arrived to the title company and funds have been exchanged, then you will receive your keys to the home.

If the bank signed documents have not arrived in time for the closing, you will receive your keys to the home and your closing documents at a later date. Most often this is within 1-3 business days of closing.

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Practicing law without a license

2008-06-30T13:56:44Z

The phone call usually starts out like this:

"I was given your name by Mrs. Brown. She said you helped her with her home purchase. I have a problem and I'm hoping you can help me..."

It sounds innocent enough doesn't it? After all, I'm a licensed real estate agent in the state of Michigan, and that's what I'm here for isn't it?

"I have an offer in on a home that's for sale by owner, and I'm not sure what to do now as far as xxxx..."

Fill in the blank of xxxx and this is where it gets tricky for me. Perhaps tricky isn't the word I should use as it is all very clear for me what I can do and cannot do.

In the state of Michigan if I am not a party to the transaction I cannot give you advice as to what you should or shouldn't do. Attorneys here take exception to that as they are licensed to practice law and I am not. I won't even take the first step towards that slippery slope.

As always, I am grateful whenever a former client remembers me and thinks highly enough of my expertise to pass along my name and phone number. I always enjoy hearing from others who are contacting me after speaking with someone who has used my services in the past. However (and this is a big however) I cannot look at your contract and give you advice as to how you should proceed or what you should do about xxxx.

Only an attorney can give you legal advice, even if the advice is in regards to a legal issue within a real estate contract. If I am not sure as to whether your question is a legal matter I will still proceed on the side of caution and assume it is.

I cannot and will not risk losing my real estate license because I gave you legal advice that I had no business giving to you.

If you wish for me to give you the name and phone number of an attorney who is familiar with real estate issues in Macomb County I will be happy to do so.

© 2008 Kris Wales a Macomb County MI real estate agent

Do businesses and industries shoot themselves in the foot with sudden changes?

2008-06-26T06:43:24Z

My hubby called this morning after he got into work and was really
frustrated.

He stopped to fill up his gas tank at his usual gas station and was greetedwith the following upon swiping his bank card: "Please enter zip code." Not a problem. He entered it. Then he was prompted to "see cashier".

He thought there was a problem with his swipe-stripe and went into the
gas station only to find 10 other customers waiting in line. From the conversations overheard he was able to understand this much:

The gas station now prefers everyone to pay by cash. If you are going to pay by bank card or credit card you have to come inside to show your card and have the signature verified by the attendant.

He drove on down the highway and stopped at another gas station. Believe it or not he was greeted with the same prompting, and the same "Come inside..." and yet the same line full of customers all rushing to get to their workplaces.

Once again he left. The most frustrating part of the sudden change in the "pay at pump" routine? There was no advance notice of it, nor were there any signs on the pumps or at the door of the stations notifying customers what the new policy was. Because of this there were many unhappy customers at 2 separate businesses this morning. Many people who were there at the same time were just as frustrated and left, without giving their business to these gas stations.

I was wondering about something after I got off the phone with him this morning. In our real estate industry we have seen many sudden changes, ones that have inconvenienced consumers in many ways. From the mortgage changes to appraisal guideline changes the list could go on and on.

Will the 2 businesses that my husband visited, then left, recover from the bad experiences that so many consumers had with them this morning?

Will the sudden changes in our industry leave a bad taste in the mouth of consumers that could take years to change?

You never know what you'll catch on video - (one of the most hysterical things I've seen yet on U-Tube)

2008-06-26T04:04:04Z

During last nights Detroit Tigers game vs the St. Louis Cardinals there was a rain delay.
A lengthy rain delay. A 2+ hour rain delay.

I've often heard it said that little boys grow up to be big boys and you really can't take the
kid out of grown men. One of my favorite Tigers players proved that last night and entertained
the die hard fans that waited it out.

Todd Jones, the amazing closer for the Detroit Tigers, aka The Rollercoaster has always been
known for his wit and his grace and fun loving heart.

While the tarp was on the field Todd decided to have a little fun. He donned a Magglio
Ordonez wig and jersey and took the field reenacting Magglios famous home run that clinched
the 2006 ALCS game.

Watch for yourself. I guarantee you'll laugh as much as I did, especially if you watched the
original home run in 2006 or have seen its replays. (Watch it til the end and see how much
fun his teammates were having on the bench while this was going on, and how many players
had video cameras going recording the scene.)

Todd Jones impersonating Magglio Ordonez and his 2006 ALCS championship walk off home
run.

I bet those in the stands and the players that were recording were glad they invested in
a video camera!

The old dinosaur ways are going, going, gone - Helping each other benefits everyone.

2008-06-24T16:58:19Z

I remember when I first started in my career that very few people
went out of their way to help a new agent, let along share any
words of wisdom to help you with your business. Oh, they surely
came around to point out what you were doing wrong, but everyone
guarded their wisdom as if someone was reaching inside of their
pocket for their wallets.

Today I was pleasantly reminded once again that the "old dinosaur" ways of practicing our business is falling by the wayside and I am grateful for that.

Missy Caulk from Ann Arbor drove quite a distance today to teach a class of eager students agents about web marketing, blogging and building your business with Web 1.0 and 2.0. (I do believe she had a standing room only audience as I spotted quite a few who made it late and were standing on the sidelines taking in every word she said.)

Can you remember back 10 years ago? Anyone who ever came to hold a class or a seminar you had to pay, or there was a cost at the end of the seminar if you wished more information. Worse yet, agents in your own office guarded what they were doing, how they were doing it, and you were left on your own to figure your way around this ever changing business.

Today we are so blessed. We have this forum, ActiveRain, and other social networks in which professionals from all over the globe freely and unselfishly share their experiences and knowledge.

This afternoon Missy Caulk went out of her way to do just this. She brought her knowledge and expertise and freely shared with a room of eager and energetic real estate agents.

I was blessed to meet her today (finally!), and I know everyone she came in contact today feels the same way.

Missy, I hope the drive back was pleasant (as it can be, with Michigans 5th season). Thank you for your time, your caring, and most of all for being a part of throwing away the old-dinosaur ways of doing business. It's people like you and those here who are a big part of why this business is so gratifying to me.

P.S. Scroll over the picture for the tag :-)

Let's be careful about what we write - and read.

2008-06-24T05:21:35Z

We wouldn't write about interest rates dropping when they weren't. We also wouldn't write about a home being offered for $50,000 when the real asking price is $100,000. Why in the world am I seeing
articles misreporting facts about something so important as HUD guidelines?

Last week it was announced by several
news organizations that HUD has waived
its 90 day "anti-flipping" rule. (This rule was put into place in 2003 to guard against predatory house flipping and worked well in my opinion.)

What wasn't readily reported were the details of this new waiver.

Because we sometimes see only the exciting headlines and don't follow through to get to the heart of an article we miss the truth in what the little that we do read.

Worse than that, we then report what we read without checking into the facts.

Before you head out there with home buyers and tell them not to worry anymore, that yes you can purchase a home that has been owned for less than 90 days please read the details.

As real estate agents and others in this profession we have a responsibility to get our facts straight. I read one of the first articles on this waiver, and sent an email off to one of my trusted and valued mortgage professionals, Mike Caira of Great Lakes Mortgage Funding in Shelby Township. He in turn got on the phone with an underwriter to get their interpretation of this reported piece of legislation. By the end of the day I had my answer: Yes, parts of the 90 day anti-flipping rule is waived. But not all of it.

I'm going to sound like the watch commander on Hill Street Blues, but please, let's be careful out there.

Talk to your trusted resources, get all of the facts, then go out and help your buyer and seller clients. I'm sure
you don't want to be the professional who gives incomplete advice to your clients simply because you took as
factual tidbits of an article you read.

© 2008 Kris Wales a Macomb County MI real estate agent

Empathy is real and has its place in our daily lives.

2008-06-23T05:35:47Z

Yesterday I wrote about something that left me pretty darned emotional while viewing
a foreclosed upon home. It was hard to write, but I felt that without a doubt that it
needed to be shared. The situation put a human side to a heartbreaking everyday
occurance in our state, and in many others across the nation.

Did what I write touch others? Obviously so, judging from the responses. Will it help
or hurt the subject that I wrote about? I honestly don't know. One thing I do know though
is this: Empathy does have a place in what we do, how we live, and how we view life and
humanity.

Someone in the peanut crowd sent me an email telling me that what I wrote was inappropriate.
Their message to me? We as real estate agents should always show a positive face and not
let the emotional human beings in us come forth.

I vehemently disagree. I am a human being first and foremost. I live my life in a positive
manner, and tend to try to find the good in everyone and the glass-half-full in most situations.
There are times though when life hurts, and when I witness it I hurt. Do I always share it? No.
Most times I tuck it deep inside of me and it becomes a learning experience that I don't forget.

I looked up the definition of the word empathy just a bit ago. Wikipedia states it so clearly
and hauntingly appropriately: It is often characterized as the ability to "put oneself into
anothers shoes".

Can I empathize with the homeowner who lost their beloved home due to a job loss?
Oh yes. Do I empathize with a fellow real estate agent who is struggling to make ends
meet? Most certainly. Will I empathize with the small business owner in our state who
doesn't know if he will be open in the next couple of months? Yes, I will.

Should I write about these very real human emotions? I don't know if I should, but I will.

Dear former homeowner - Your letter is still there, on the kitchen counter.

2008-06-22T13:25:35Z

Dear former homeowner,

It is quite possible you won't ever find this and read this but I had to try.

Today I brought potential buyers in to view the home that you once owned and unfortunately lost through foreclosure.

When we first entered the home we were amazed at how well maintained it appeared to be, and were delighted by the fact that it wasn't a "typical" foreclosure home that we had been used to seeing.

Upon entering the kitchen we saw a piece of paper on the counter that
was hand written. I knew it wasn't something from the bank owner, or
property manager. As I drew closer to it and picked it up I felt chills
going through me. It was your letter, the one you wrote and probably
thought would be removed.

In the letter you described so hauntingly what happened to you and your family and how you lost your home that you obviously loved and cared for. I'm not ashamed to admit that I became emotional while reading it and couldn't finish it. You see, your story is not unlike many others in Michigan. The whole state is in an economic crisis and many families have lost their livelihoods and homes. The reality of that hits us smack in the face each and every day and it hurts. It's hard to see this and not become emotional.

I can only imagine how hard it was for you to write it, I feel I owe it to you to go back to the home and finish
reading your letter.

The potential buyers that I brought through your home also read part of it. They couldn't finish it either.
It saddened them to read your words, especially after seeing how well you took care of your home and obviously took pride in it.

I don't know what else to say. I'm at a loss for words but wanted you to know I'm grateful that you
weren't. Your words are still there on that piece of paper on the kitchen counter. There have been many people through the home over the last several months and no one has removed the letter. Your words also wishing the new owners happiness also will be read and cherished by whomever purchases the home.

I pray that wherever you are and whatever you are now doing you will find prosperity and peace for you
and your loved ones.

Sincerely,

Kris Wales

Photo courtesy of Laineys Repertroire hosted at Flickr

Could we hit a stone wall with our words and not be aware of it?

2008-06-21T06:57:07Z

I had one of the most interesting conversations with a potential buyer client yesterday afternoon and it didn't
involve his wish list or want list for a new home. At the end of the conversation I asked him for his permission
to write about our talk and as he found me via my blog posts he agreed.

The young man I spoke with has been interviewing agents online for several months without the
agents being aware of it. His interviewing has involved reading as much as he can on various agents websites, and recently he found ActiveRain. One thing that he said made me stop in my tracks and nod
my head in agreement as I've had the same gut feeling when I am in his shoes as a consumer: Don't tell
me you're honest, hardworking or trustworthy.

In his words: "If I read from someone that they are honest or they're hardworking or trust me I've just put a stone wall in front of them. I'll walk around the wall and read someone else. I won't take the time to walk through the wall."

I asked him why those words put him off, anticipating the answer because I've felt the same gut
churning when someone has said those words to me.

His short and sweet reply? Prove it, don't say it.

I wonder how many of us in trying to convey our value to consumers and peers have used those words and phrases in our marketing not knowing that we were building an imaginary stone wall in front of us? A wall that the consumer won't walk through but rather walk leisurely around?

Mr Caller: I look forward to talking to you again. You gave me one of those eye opening moments that only someone on the outside of our profession can and I am grateful for it. Perhaps next time we talk we'll get around to talking about your real estate needs. I would be honored to prove myself to you.

© 2008 Kris Wales a Macomb County real estate agent

Photo courtesy of Fractal Artists photos on Flickr

A fabulous new trend: Home buyers saying "NO"

2008-06-20T05:29:01Z

“No, I don’t want that payment” - Home buyers in Michigan are smarter this year. Much smarter, and I'm thrilled to witness it.

I represent many home buyers in my real estate business. I enjoy them, and I am happy as can be finding and showing homes to potential buyers. The interaction between a buyer client and a buyers agent is fun, hectic at times and precious to me. Most days you can find me driving all around Macomb County and the Metro Detroit area viewing homes, taking photos and meeting with buyer clients.

This year I’ve noticed a trend that I am thrilled with: Buyers
are becoming smarter when it comes to their purchase power
and are saying “No, I don’t want that” when it comes to the
mortgage payments quoted in their pre-approval letters. Gone are the days of stretching the mortgage amount to the limit. (The photo on the left aptly describes what used to take place.)

Without exception, each and every home buyer that I’ve encountered this year has purchased a home thousands of dollars under what they are approved for.

Unlike previous years, buyers are considering all factors of their economic situations and realizing that job security isn’t guaranteed to any of us. Many married home buyers are purchasing homes based upon one income only. Gone are the days of using both spouses incomes into the equation when considering how much to finance for a home. If there has been any good to come out of this mortgage mess and depreciation in home values across our state it has been this trend.

Kudos to all the home buyers out there who are being smart and planning their budgets well in advance of their home purchase. Saying NO firmly to an unrealistic mortgage payment and purchasing a home based upon what is comfortably affordable is a trend I hope will continue.

©2008 Kris Wales a Macomb County MI real estate agent - A partner for your real estate needs.

Search for homes using MLS provided data Contact Kris Wales RE/MAX Advantage 1, Inc.

Photo courtesy of Mike Licht NotionsCapital.com via Flickr