If you've ever dreamed of owning Southeast Michigan real estate investment property, a vacation home or buying a home for a family member, this could be the year to check that off your bucket list.  With record low interest rates and decreased prices, it is a buyer’s market, particularly in the second-home market.

 

Before you sign on the dotted line of another mortgage, be it a beach condo in Florida or Southeast Michigan real estate that you plan to rent, be sure to:

• Check your credit. The same rules apply for a getting a mortgage on a second home as on a first.  Good credit means better loan terms.

• Save for a down payment. The more money you can put down, the lower you mortgage.  If you put 20% down, you can save money by avoiding Private Mortgage Insurance (PMI) requirements

• Check your budget.  It may be cheaper to rent that ski villa or palm tree paradise for a month than pay a mortgage year round. Consider what you really want in a second home, and what you are willing to pay for that. 

• Check your time.  Choose a second home carefully and make sure that you will really use it, or can rent it when you are not using it. There is no sense paying for a second home that remains shuttered and locked. 

Once you consider the basics of your situation, you can begin looking for a second home with the confidence that you can afford the time and expense it requires.  Your second home could be just around the next corner or the next palm tree.

If buying a Southeast Michigan real estate for a second home is on your bucket list, give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

In honor of Valentine’s Day, sellers should take this month to highlight what they love best about their homes for sale. Instead of just focusing on the square footage, buyers will get the chance to see what makes your Bloomfield Hills real estate surprisingly special. The best way to project a loving image is to let Cupid take over and shoot up your home — with a camera, of course.



As a seller, you constantly hear tips about de-cluttering and depersonalizing a home that’s on the market. However, when you’re taking pictures to post online, be sure you capture the details you love most about your home, because buyers are likely to love them too. Below are a few photography tips to get you started:

• Capture the heart of your home. Ensure you get pictures of all the living spaces, from the kitchen and living room to the finished basement and backyard. Any place that a family will spend most of its time together should be highlighted.

• Make sure you have good lighting. Photograph on a day when there is a lot of natural light coming through the windows. Also be sure to turn on all inside lights and lamps — this gives your home that cheery, glowing feeling.

• Highlight your home’s best features. Do you love your wrap-around porch, built-in bookshelves, shaded backyard or beautiful stained glass windows?  Be sure to showcase each of those unique features in the photos of your home. You might be surprised at what catches the eye of a potential buyer.

• Double-check your online upload. Take care to verify the online uploading of your photographs. Carefully read website parameters for picture size and captioning. This will probably be many potential buyers first impression of your home, so you definitely want to make it a good one!

Don’t just quickly snap pictures using your phone. Be sure to employ a little love and effort when capturing your Bloomfield Hills real estate. Then you’ll highlight its best features and pass on that heartwarming image to potential buyers.

If you’re looking for a Bloomfield Hills real estate agent in Oakland County, Michigan, who will photograph your home to show off its best features and market it extensively online and off, please call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Fannie Mae and Freddie Mac have been in the news quite a bit over the last year, so I thought it was a good time to do a refresher on who they are and what role they play in the Bloomfield Hills real estate industry.

Who are Fannie Mae and Freddie Mac?

Fannie Mae is the Federal National Mortgage Association. Freddie Mac is the Federal Home Loan Mortgage Corporation. They were originally created to raise homeownership levels and increase the availability of affordable housing.



Fannie and Freddie don’t sell mortgages directly to homeowners. They buy mortgages from lenders, so the lenders can use the money to issue new home mortgages.

In 2008, due to mismanagement resulting in billions of dollar of losses, Fannie and Freddie were taken over by the government.

How do Fannie and Freddie impact Bloomfield Hills real estate?

• They contributed to the financial crisis and real estate downturn, by loosening underwriting standards, buying and guaranteeing riskier loans and increasing purchases of mortgage-backed securities.

• They are key players in the government’s Making Home Affordable foreclosure-prevention program. If your mortgage is owned by Fannie Mae or Freddie Mac, you may be able to refinance your loan and take advantage of lower interest rates.

• They influence mortgage interest rates and the availability of home loans. Freddie, Fannie and the Federal Housing Administration together now guarantee about 90 percent of all new mortgages, far above their historic level.

What’s going to happen to Fannie and Freddie?

Fannie and Freddie’s future is uncertain. The House Republicans and the Obama administration agree that Fannie and Freddie should be done away with. But this will not happen soon, if at all. Congress must agree on a plan, which could take years, and then the market’s dependence on the companies and the financial backing they provide must be reduced.

If you have questions about Bloomfield Hills real estate or how national or international events impact Bloomfield Hills real estate, please give me a call at 248-514-2640 or email me at info@NorthWoodwardHomes.com. I’m happy to help.

Here is a painless way to reduce your energy use and your heating bill: Set your thermostat to go down 5 to 10 degrees while you’re gone all day and while you sleep at night. This could reduce your heating bill by 15% without compromising comfort.

Programmable thermostats cost anywhere from $30 to $150, so they quickly pay for themselves. By programming your thermostat to return to  your comfort level before you arrive home or get up in the morning, your Southeast Michigan home will be just as comfortable as what you’re used to, and you’ll reduce your carbon footprint.  

 
Here is how easy it is to install a programmable thermostat:

• Turn off the circuit breaker for the thermostat. Since you will be handling wiring, you must cut off the electricity going to the thermostat first of all. If your Southeast Michigan home has electric baseboard heat, don’t do this update yourself--the wiring carries higher voltages and should only be worked on by a qualified electrician. 

• Remove the old thermostat. Older thermostats contain mercury, so handle it carefully and do not throw it into the trash. Check with local recycling centers or waste handlers to learn how to safely dispose of mercury.

• Tape wires to the wall. You don’t want the wires to fall inside the wall. Note where they were attached to the old thermostat and label them accordingly.

• Mount new wall plate. Follow the instructions that came with the new unit to mount the plate over the area of the old base.

• Connect new thermostat to wiring. Again, follow the instructions included with your new unit.

• Mount the new thermostat onto the new base.

• Turn the circuit breaker back on.

• Program the thermostat following manufacturer’s instructions. Digital devices can be hard to program, so hang onto those instructions and keep them where you can find them.

Now your Southeast Michigan home can be greener, more economical and more comfortable.

Want to buy a home that’s green, energy-efficient and comfortable? I can help. Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

As the new year starts, pursuing your dream of buying one of the Royal Oak Michigan homes for sale may be on your list of resolutions. Prices and interest rates are extremely low, which means 2012 could be the perfect year to buy a home. As exciting as that is, I bet it can also feel a little overwhelming.



One of the best ways to attack a big goal is to break it down into smaller goals. So here are four smaller goals you can tackle to accomplish your larger goal of buying a home:

1. Prepare for battle: Before you begin looking for a house, look at your financial situation. Do what you can to clean up any credit blemishes, pay off debt and save toward a down payment.
2. Check your qualifications: There's no sense looking for million dollar mansions if that's not in your budget. Talk to a mortgage professional, or preferably several, to get an idea of what loan amount is available to you. Get preapproved for your mortgage so that you're ready to make an offer when you locate your perfect Royal Oak Michigan home for sale. 
3. Build your army: Finding a real estate agent that you click with can make all the difference in navigating the home buying process successfully. He or she can save you tons of time by pointing out the advantages and disadvantages of neighborhoods and homes so that you only look at places that truly fit your needs.
4. Define your perfect space: It's worth spending some time considering which characteristics of a home are most important to you. Think about the neighborhood, school system, and commute times, along with basics like number of bedrooms and square feet.

Once you have a clear understanding of your financial situation, what you're looking for, and have the help you need to find the perfect Royal Oak Michigan home for sale, you will be amazed at how much more prepared you feel to take on the next steps in the process.

If you want to discuss more details on the home buying process, contact me today at 248-514-2640 or email info@NorthWoodwardHomes.com.

Of the many joys of property management, good tenants top the list.  The top of the headaches list? Bad tenants. Problems from failing to pay the rent in a timely manner to inadequate cleanliness to inconsiderate community habits plague the rental world of Bloomfield Hills real estate. 



You can find the best tenant for your vacancy by following these few steps. 

1.    Advertise
Having plenty of applicants to select from means that you can find a good match for the vacancy. So advertise to collect a crowd of prospective tenants.  It's worth the extra time of showing the property to more people to find a reliable tenant. 

• Spread the word among your friends and family that you have a space available. Through personal connections, you are most likely to find a good match for your space.

• Put a sign up outside the unit. People living near the neighborhood, or visiting family or friends in the area, are most likely to want to rent there. 

• Put listings for your Bloomfield Hills real estate in your local newspaper and online sources (such as craigslist). 

2.     Review Rental Applications with Care

While there are no guarantees, a few practices can help you screen applicants for your Bloomfield Hills real estate vacancy. 

• Check Rental History: If your prospective renter has moved every three months, it's worth asking why.  When you call to verify rental history, check with former landlords to find out if there were any issues. 

• Check Credit Reports: Your prospective tenant might proclaim that he is independently wealthy, but even if he is, that doesn't mean he pays his bills on time. That said, remember that credit reporting agencies aren't always accurate, so do allow for issues to be explained.

• Verify Income: Your tenant should have a steady means of meeting his rental obligation. Request copies of recent pay stubs or other income to ensure that the tenant can reasonably afford the rent you are charging. 

• Check Job References:  Ideally, you want a tenant who has a stable history in his profession.

Of course, as a landlord you already know that the Fair Housing Act prohibits discrimination based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability). 

If you are investigating new rental property purchases or looking to sell some of your current assets, I can help. Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Happy New Year! Now that the champagne corks have been popped and Auld Lang Syne sung, the clean slate of a fresh year may have you busily writing up resolution lists of 2012 goals.

Top of the list for my goals is to continue providing exceptional customer service to my clients!



Whether you’re a long-standing client I've seen through several purchases or a first-time home buyer considering taking the plunge, I want to make sure you're as happy as you can be with your Bloomfield Hills home decisions.  I always welcome suggestions on how I may be of more help, so please connect with me and share your thoughts.

If you're like many Americans, your resolutions probably involve ways to become healthier and happier. Buying your first Bloomfield Hills home or moving to a home that better fits your needs could certainly add to a happier 2012.

Maybe your family is growing and you need more room. Or maybe the kids have grown and gone, and you'd like to downsize to a more manageable space. Perhaps you’re considering investing in a second home. Now that prices are low, buying a second home could again make sense as a long-term investment.

I believe in envisioning the future you want. So make a plan today that includes the Bloomfield Hills home of your dreams; a place where family and friends gather in friendship and good will.

May 2012 bring you fresh opportunities to realize your dreams. And again, Happy New Year!

To market Royal Oak Michigan homes for sale, you have to get buyers to want them. So, what do they want? Based on the data just in from the 2011 National Association of REALTORS® Profile of Home Buyers and Sellers, here are what buyers want in a neighborhood in order of importance:

1. 67 percent favor a quality neighborhood
2. 49 percent of buyers said they want convenience to jobs
3. 45 percent look at the overall affordability of Royal Oak Michigan homes for sale in the neighborhood
4. 39 percent prefer to live close to family and friends
5. 28 percent of buyers are interested in having shopping close by
6. 27 percent want a quality school district
7. 22 percent ask for a neighborhood that is convenient to schools
8. 21 percent like to live close to entertainment or leisure activities

Assess your neighborhood. Which of the attributes most desired by buyers does your neighborhood have? Showcase those features in the marketing materials for your home:

• Mention the schools, shopping, entertainment and leisure activities that are close to your home.
• Give statistics on the quality of your school district. 
• Take photos of your neighborhood that flaunt its quality.

Need help marketing your home? I specialize in selling Royal Oak Michigan homes for sale in your neighborhood. If you’re ready to sell your home, let me market your neighborhood and home to get it sold now. Please give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

You’ve heard of purchasing antiques, jewelry and collectibles at auction, but the idea of purchasing Southeast Michigan real estate could be a little daunting. Not only is the investment larger than normal, but the process might seem too quick for those who like to take their time and ensure they’ve checked off every box on their house hunting list.



While purchasing property at an auction isn’t the normal route for most buyers, that’s no reason to discount it. So if you’re interested in Southeast Michigan real estate that is up for auction, take the following tips into consideration before you make a bid.

• Get in contact with the auction firm. Firms want to explain how the sales process works, so that buyers won’t be intimidated and will be more likely to bid. The more bidders, the higher the price could be driven up.

• Have the property inspected and appraised prior to the auction. While this usually comes out of your own pocket, it will give you a better idea of how high you’re willing to bid.

• Consider a pre-auction offer. If you can’t live without this property, then you might want to consider putting in an offer before the auction. However, it will need to be an extremely desirable offer for the seller to call off the auction. If you want a deal on the house, then just wait until auction day.

• Read the auction terms carefully. Even if you’ve bid on property at auction before, reread the terms for this specific house. All auctions are different.

• Set a budget and stick to it. Decide how high you’re willing to bid and make sure you take into account the buyer’s premium fee. This is a fee that they add on to the highest bid in order to create a contract price.

Don’t let a dream house slip away just because you’re unfamiliar with how auctions work. You can get a great deal and will maybe even enjoy the excitement of the bidding. Follow the steps above, or attend an auction before you dive in — they’re public, so anyone can go to watch.

If you’re in the market for Southeast Michigan real estate or would like to learn more about how property auctions work, please call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

If you’re closing up your summer vacation home to head for warmer climates or leaving your home in Royal Oak Michigan for an extended period, follow these tips to safeguard your home from harsh weather, pests and vandalism:


 

1. Trim bushes, shrubs and hedges. This isn’t to make your yard prettier. It’s to improve your home’s security by providing an unobstructed view of your doors and windows.
2. Prune tree limbs and branches. You don’t want any branches hanging over your house. They provide easy access to rodents and robbers and could fall during storms damaging your home in Royal Oak Michigan.
3. Bring in outdoor furniture and decorations. Don’t chance having your outdoor chairs, tables or decorations destroyed during winter storms.
4. Securely store valuable property. ATVs, bicycles, canoes and riding lawn mowers are easy targets for thieves. Make them harder to steal by locking them up in a shed or garage.
5. Drain the water. Remove water from spas, swimming pools and any other vessels that contain water. You may also want to winterize the toilets in your home in Royal Oak Michigan.
6. Empty fridge and freezer. Don’t leave anything in your refrigerator or freezer that can go bad if the electricity is off for an extended period of time. Food that thaws and refreezes is dangerous and can make a big mess. Clean the fridge and freezer to come home to a sweet smelling kitchen.
7. Turn off main water supply. If there’s a leak or your pipes burst, this prevents water from pouring unchecked into your home. To prevent pipes from bursting, open all faucets and drain the waterlines.
8. Set your thermostat to 58 degrees. You want to turn down the heat, but don’t turn it off. Setting it at about 58 degrees should prevent problems.
9. Unplug electronics. Prevent damage from power surges during storms and reduce your electric bill by unplugging all electronics, electrical appliances and charging devices.

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