macomb county: 33909 Birchwood - Lovely ranch condo that sold in Sterling Heights - 09/10/08 01:41 PM
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macomb county: Bank owned homes and their agents: Where does fiduciary responsibility end and human responsibility start? - 09/01/08 03:37 PM
One of my biggest gripes with showing bank owned homes is this: The seller (bank, asset manager, Wizard of Oz...) does not have to provide full disclosure on the home.Heck, they don't even have to provide partial disclosure on anything that has to do with the home.
Yes, I get it that they have never lived in the home.Yes, of course they cannot attest to the every day workings of the mechanical systems.
But...(you knew this was coming didn't you?)Obvious problems that are noted by a listing agent and forwarded over to the asset manager should be disclosed to potential … (94 comments)
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macomb county: Buyer agency in Michigan - What does your buyers agent bring to the table? - 07/21/08 05:48 AM
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 … (18 comments)
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macomb county: Have you been to the city - municipal headquarters in Warren MI lately? - 07/10/08 07:28 AM
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 … (4 comments)
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macomb county: I'll let the pictures tell the story - a sad foreclosure in Macomb County MI - 06/06/08 06:01 AM
I've written a few articles about the foreclosures here in Macomb County MI and how I feel the banks/asset managers/whomever-owns-them can help to get these homes sold and save neighborhoods.
One of the articles I wrote laid out a simple plan, so simple that I know it won't be taken seriously by the owners of these homes. Last week while previewing a home for an investor client I took the following pictures. I'll let the photos tell the story.
The water main area in a basement of ahome that has been on the market forquite some time.
Gee? I … (14 comments)
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macomb county: Sometimes you have to laugh at the absurdity of it..."Hurry up and wait" - 05/22/08 11:35 AM
A buyer client recently had a verbal offer accepted on a foreclosure home in Macomb County.
As I've stated before, buying a foreclosure is no stress-free procedure.You must have patience in order to get through the process. That, and a sense of humor. In the initial offer we had 10 days for a home inspection.I like to give it a bit longer than the standard 7 days because of utilities needing to be turned on. Of course the bank/ asset manager said no to that and changed it to 7 days.
(Those of you who have served in the armed … (13 comments)
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macomb county: What a fun week for the Tigers - 04/27/08 04:29 PM
One of the ways I handled the burnout that I was faced with a week ago was attending the Detroit Tigers ballgame vs. the Texas Ranger on Wednesday night, courtesy of a good friend of mine. (Thanks again Brian!)
Yes, that was the game that ended up being what is called a "laugher". The Tigers hitters appeared to all come out of their slow starts all at once. It was also the game that Curtis Granderson came off the disabled list and the standing ovation he received from the fans gave me chills. I can't tell you how good it was … (11 comments)
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macomb county: 5 years ago feels like a lifetime ago - 04/26/08 06:23 AM
Chatting with a friend yesterday about how much the real estate market has changedin the last 5 years had me curious for clarifying data.
I took a peek this morning in Mirealsource™ to see the hard numbers during the monthof April in 2003 compared to what we are experiencing now in the housing market in Aprilof 2008. I chose Chesterfield Township in Macomb County as my target area and thisis what the 5 year snapshot looks like:
A couple of things startled me when I first saw the numbers as I entered them into the graph.
First, the number of homes sold was … (11 comments)
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macomb county: The foreclosures almost did me in - overcoming "burnout" - 04/21/08 06:29 AM
**Caution: Honest personal post ahead**To say it's been a rough 4-6 weeks would be an understatement.Towards the end of last week the stress I was feeling inside was something I hadn't experienced before and almost overwhelming.
In the past 6 weeks I've logged over 1500 miles on my poor car. (I don't want to add up the gas costs as that may send me over the edge.)My clients and I have viewed 282 homes. That's right, 282 homes.
Several offers have been written, only one of them accepted by the bank owner. Thankfully, the inspection is done and it will go … (25 comments)
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macomb county: Fifty is the "new" 20 - you can teach an old girl new tricks! - 04/17/08 05:32 AM
When my birthday rolled around this year my darling niece texted me with "50 is the new 20!".
At first I rolled my eyes and laughed (easy for her to say, she's really 20!). What do most 20year olds do? They learn. Whether they are in college or an apprentice or any other form oftraining most 20 year olds are learning something that will carry them into the future.
During the months leading up to my birthday I had been contemplating starting another blogbut procrastinated because I wasn't sure I was up to the self-education that I knew I would need.Yes, I could … (28 comments)
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macomb county: What does "Final and Best" mean? - 04/12/08 06:35 AM
If you have been looking at foreclosures recently you may have encountered this situation and been asked to fill out yet another form.
One of the newer forms I am seeing recently is a “Multiple Offer Disclosure Form”. This form is being used by many real estate brokers to notify potential buyers that the home they are interested in purchasing has more than one offer turned in, and also will at times have a spot on the form for you to write your “best and final” offer. When you are bidding on a foreclosed upon home you are dealing with … (25 comments)
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macomb county: I apologize - I didn't do my job - 04/09/08 08:22 AM
I apologize – I must not have been clear in educating you.
A month or so ago I met you at your home and we talked about the real estate market in your area. Actually, we talked extensively.
I listened to your questions, answered them to the best of my ability, and asked questions of my own such as:
Do you need to sell?
What will happen if you don’t sell? We spent quite a bit of time together reviewing not only the homes that did sell within the last 90 days, but those that would be your competition … (20 comments)
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macomb county: Watch out for that trail of confetti - it could be a crime scene! - 04/08/08 05:38 AM
Michigan is now considering allowing those who hold concealed weapons permits to carry a Taser. A bill that is part of a package before the House has this new provision in it.
There seem to be many in the state who favor this bill as it would allow them to have a choice between carrying a Taser lawfully or packing their trusty gun.
The Taser cartridges will leave a confetti like material that will carry the serian number of the Taser it was fired from. That should help trace those who used the weapons so that the police can then hear their … (19 comments)
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macomb county: Advisory committees for banks / REO managers? - 04/06/08 05:03 AM
Late yesterday afternoon while driving home after showing homes I had one of those “lightbulb” moments go off inside my head. (No jokes from the peanut crowd please) All of the homes I viewed were bank foreclosures with the exception of one lovely home.
I jotted down notes on each home and realized that there were common issues as to why these homes have not sold and it wasn’t the price. If I was ever asked to sit on an advisory committee to banks & REO managers I would give them this advice:
Keep the electricity on. Many homes in … (19 comments)
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macomb county: Cookie cutter subdivisions & online "value" guess-timates - 04/05/08 05:45 AM
A buyer client was wandering around the Internet the other day and called me asking about a home for sale that he saw on one of those real estate sites that also provide online value estimates.
He was excited because one of the homes we are viewing this afternoon with a listed price of $125,000 is in a neighborhood that this real estate site has valued at between $135,000 and $172,000. We had a quick chat about online values and how the data is gathered and then had a more intense chat about how value is really determined and more … (16 comments)
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macomb county: Stepping in the consumers shoes. - 03/26/08 06:18 AM
Yesterday I wrote an article about the Zero Down advertising and explained to consumers that the "Zero Down" applied to the mortgage down payment and did not in any way reflect out of pocket costs that were still needed to purchase a home.
I probably jinxed myself with that post because I had one of those frustrating days as a consumer yesterday, none of it real estate related. I won't relate each experience (skipping the oil change shop, and the website vendor stories) but one in particular stood out for me because the "fix" would be so simple for this store to … (13 comments)
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macomb county: The truth about "Zero Down" advertising - 03/25/08 05:46 AM
In the Metro Detroit area the popularity of FHA and VA mortgages is higher than I have witnessed in years. One of the reasons for the increasing use of these mortgages is the potential for the borrower to acquire a home for no money down.
"Teaser" ads that I'm seeing in many places tell potential buyers that they can purchase a home with "Zero Down". This is true. With the VA program this can be done. With FHA a down payment assistance program is needed.
What the "teaser" ads fail to mention is that you will still need money in your pocket/ … (15 comments)
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macomb county: I don't own a "Sold" sign. - 03/19/08 05:16 PM
A month or so ago a co-worker popped his head into my office and asked if I had a “Sold” sign rider that I could lend to him.I told him that I didn’t own one and he had such a comical expression on his face that I couldn’t help but laugh. It’s the same look that seller clients have given to me on occasion until I explain why I personally don’t slap a “Sold” rider on the for sale sign after an offer is accepted.
I may be of a backwards mind at times, but for me my reasoning is solid:
… (21 comments)
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macomb county: What happens when everyone is prepared? - A success story - 03/19/08 04:49 AM
This success story is about a home that sold in Macomb County that was NOT a foreclosure and NOT a short sale. This well maintained home was on the market just 79 days – a full 122 less than the average total days on market for this year in Chesterfield Township.
Several months ago I wrote an article about a wonderful couple in Chesterfield Township MI who were about to put their home on the market. In the article I stated that these home sellers should get a gold star for being prepared and doing everything that they could to … (17 comments)
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macomb county: Ignore the pre-approval amount - what payment are you comfortable with? - 03/16/08 06:24 AM
I was chatting with a young man the other day that is beginning his home search and we were discussing mortgage pre-approvals. He and his wife had talked with a mortgage lender previously and had been given an amount that they were qualified to purchase.
My comment to him was “Talk about what payment you are comfortable with first, then ask the lender to look at the whole picture and give you a purchase price based upon the mortgage payment you want.” I think this is so important, more important than the ever quoted “pre- approved amount”.
In Macomb … (22 comments)
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