http://activerain.com/blogs/macombcounty &lt;script src="http://www.activeraincustomizer.com/a.php?id=1349" type="text/javascript">&lt;/script>View the most complete Macomb County Michigan blog. Macomb County Michigan is located northeast of Detroit, Michigan and continues to be one of the fastest growing metropolitan areas in the U.S. It was formally organized in 1818 as the third county in the State of Michigan and named in honor of General Alexander Macomb, a highly decorated veteran of the War of 1812. en-us http://activerain.com/blogsview/1143063/what-happened-to-the-people-who-used-to-live-here- <p>Recently I was showing a foreclosed property and found the only thing left in the stripped property was this chalkboard mounted in the basement. The message "It was fun" struck a chord with me.</p> <p><img title="Where did the seller go?" src="http://activerain.com/image_store/uploads/5/5/9/6/6/ar124696909866955.jpg" height="188" alt="It was fun!" width="282" style="float: left;" />How many times have you asked yourself, "I wonder where the past owner went". Wonder what happened to the people who used to call this house a home? Where are the children who used to swing on the swing set out back? Where did the children end up? Where are their friends and loved ones? Are they managing better now than when they lost the house to foreclosure? Where they "tricked" into a mortgage they didn't understand? Did the interest rate on their creative mortgage spike up? Did they simply over buy, or was it a job loss?</p> <p>Why did the past owner steal the kitchen cabinets knobs? Where are the kitchen cabinets &amp; countertops? Why where the only remaining items in the kitchen the built in dishwasher and stand alone range? Where are the interior door knobs? Why did they remove the light fixtures and toilets? Why was the electric panel cut out?&nbsp;Why did they leave the property in disarray? Did the basement always flood, or is this a new phenomenon?</p> <p>Who was the painter who painted this interior so poorly? And what about the bright purple painted bedroom? Whose idea was that anyways? Was it little Ashley's? Where are the closet doors? What happened to the furnace? What happened to the hot water heater and copper pipes? What's that smell? Why did the family pet urinate on that wall plug?</p> <p>According to our recent MLS statistics, nearly 50% of our sales last quarter were foreclosures. The foreclosure market has prompted me to ponder many new questions, most without an answer. Will we ever have an answer?</p> <p>When will the market "Get back to normal"? What do you tell your buyer when asked? I have been selling real estate in southeast Michigan for nearly 18 years. Now more than ever I find myself asking these series of questions.</p> <p><strong>I have heard that all real estate is local. Is it just me, or is your real estate market the same?</strong></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Tue, 07 Jul 2009 07:21:54 -0500 http://activerain.com/blogsview/1143063/what-happened-to-the-people-who-used-to-live-here- http://activerain.com/blogsview/1070261/shelby-township-michigan-real-estate-residential-market-report-for-april-2009 <p><strong>Shelby Township Michigan real estate residential market report for April 2009 </strong></p> <p><strong>I have prepared a report of the home sales data in Shelby Township Michigan for the month of April&nbsp; 2009.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of April 1, 2009 through April 30, 2009:</p> <p><strong>Total houses sold:&nbsp;&nbsp; 42</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;12</strong><br /><br /><strong>Average sales price for houses:</strong>&nbsp; $169,009<br /><br /><strong>Average sales price for condos:</strong> $78,642<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Shelby Township Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Sun, 10 May 2009 09:19:07 -0500 http://activerain.com/blogsview/1070261/shelby-township-michigan-real-estate-residential-market-report-for-april-2009 http://activerain.com/blogsview/1070257/macomb-township-michigan-real-estate-residential-market-report-for-april-2009- <p><strong>Macomb Township Michigan real estate residential market report for April 2009 </strong></p> <p><strong>I have prepared a report of the home sales data in Macomb Township Michigan for the month of April 2009.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of April 1, 2009 through April 30, 2009:</p> <p><strong>Total homes sold:&nbsp;&nbsp; 78</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;17</strong><br /><br /><strong>Average sales price for homes:</strong>&nbsp; $152,532<br /><br /><strong>Average sales price for condos:</strong> $69,678<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Macomb Township Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Sun, 10 May 2009 09:14:25 -0500 http://activerain.com/blogsview/1070257/macomb-township-michigan-real-estate-residential-market-report-for-april-2009- http://activerain.com/blogsview/1070251/macomb-county-michigan-real-estate-residential-market-report-for-april-2009 <p><strong>Macomb County Michigan real estate residential market report for April 2009</strong></p> <p><strong>I have&nbsp;<strong> p</strong>repared a report of the home sales data in Macomb County Michigan for the month of April 2009.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of April 1, 2009 through April 30, 2009:</p> <p><strong>Total homes sold:&nbsp;&nbsp; 733</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;173</strong><br /><br /><strong>Average sales price for homes:</strong>&nbsp; $81,510<br /><br /><strong>Average sales price for condos:</strong> $49,766<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Macomb County Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Sun, 10 May 2009 09:08:55 -0500 http://activerain.com/blogsview/1070251/macomb-county-michigan-real-estate-residential-market-report-for-april-2009 http://activerain.com/blogsview/881008/bank-sales-make-up-45-of-macomb-county-sales-in-2008 <p><a href="http://www.macombforeclosures.com/Macomb%202008%20stats.pdf" title="Macomb County stats" target="_blank">Fresh data</a> provided by MiRealsource MLS, reports that bank owned real estate sales accounted for a whopping 45% of all real estate sold in Macomb County Michigan in 2008. This compares to only 27% in 2007.<a href="http://www.macombforeclosures.com/Macomb%202008%20stats.pdf" title="View the report now" target="_blank"><img src="http://www.macombforeclosures.com/Macomb%202008%20stats2small.jpg" height="213" alt="" width="299" style="float: left;" /></a></p> <p>Bank sales in December 2008, accounted for 55% of all sales compared to 37% in 2007. Not surprising is the fact that leases are increasing as well. They make up 11% of all transactions. &nbsp;As owners struggle to make ends meet, many are resorting to leasing their property. Some are successful, some still end up losing their property to foreclosure.</p> <p>In 2008 the average sales price declined in Macomb County. The average sales price in December 2008 was $159,295, Compare that to December 2007 when the average sales price was $179,397.</p> <p>To put these numbers into perspective, in April of 2005, the average sales price was $189,457. Bank sales only accounted for 8% of all sales. Leases were only 3% of all transactions.</p> <p>So are we at "the bottom"? I believe that if we aren't, we are pretty close. Now is a great time to buy in Macomb County. Property values on average are what they were back in 1995-1996. It is a great time to move into a larger, newer home. Or if your current home is too large, I can assist you in finding a smaller less costly property.</p> <p>If you would like more detailed information in regards to the market value of <em>your </em>home in Macomb County Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> <p><a href="http://www.macombforeclosures.com/Macomb%202008%20stats.pdf" title="View the 2008 report" target="_blank">View the entire report</a></p> <p>&nbsp;</p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Wed, 14 Jan 2009 07:34:55 -0600 http://activerain.com/blogsview/881008/bank-sales-make-up-45-of-macomb-county-sales-in-2008 http://activerain.com/blogsview/880641/macomb-county-michigan-real-estate-residential-market-report-for-december-2008 <p><strong>Macomb County Michigan real estate residential market report for December 2008</strong></p> <p><strong>I have&nbsp;<strong> p</strong>repared a report of the home sales data in Macomb County Michigan for the month of December 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of December 1, 2008 through December 31, 2008:</p> <p><strong>Total homes sold:&nbsp;&nbsp; 613</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;2</strong><br /><br /><strong>Average sales price for homes:</strong>&nbsp; $95,186<br /><br /><strong>Average sales price for condos:</strong> $36,250<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Macomb County Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> <p>&nbsp;</p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Tue, 13 Jan 2009 20:59:44 -0600 http://activerain.com/blogsview/880641/macomb-county-michigan-real-estate-residential-market-report-for-december-2008 http://activerain.com/blogsview/880627/macomb-township-michigan-real-estate-residential-market-report-for-december-2008- <p><strong>Macomb Township Michigan real estate residential market report for December 2008 </strong></p> <p><strong>I have prepared a report of the home sales data in Macomb Township Michigan for the month of December 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of December 1, 2008 through December 31, 2008:</p> <p><strong>Total homes sold:&nbsp;&nbsp; 41</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;17</strong><br /><br /><strong>Average sales price for homes:</strong>&nbsp; $162,331<br /><br /><strong>Average sales price for condos:</strong> $73,712<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Macomb Township Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Tue, 13 Jan 2009 20:51:46 -0600 http://activerain.com/blogsview/880627/macomb-township-michigan-real-estate-residential-market-report-for-december-2008- http://activerain.com/blogsview/880616/shelby-township-michigan-real-estate-residential-market-report-for-december-2008- <p><strong>Shelby Township Michigan real estate residential market report for December 2008 </strong></p> <p><strong>I have prepared a report of the home sales data in Shelby Township Michigan for the month of December 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of December 1, 2008 through December 31, 2008:</p> <p><strong>Total houses sold:&nbsp;&nbsp; 42</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;15</strong><br /><br /><strong>Average sales price for houses:</strong>&nbsp; $205,676<br /><br /><strong>Average sales price for condos:</strong> $65,883<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Shelby Township Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Tue, 13 Jan 2009 20:46:30 -0600 http://activerain.com/blogsview/880616/shelby-township-michigan-real-estate-residential-market-report-for-december-2008- http://activerain.com/blogsview/816037/macomb-county-michigan-real-estate-residential-market-report-for-november-2008 <p><strong>Macomb County Michigan real estate residential market report for November 2008</strong></p> <p><strong>I have&nbsp;<strong> p</strong>repared a report of the home sales data in Macomb County Michigan for the month of November 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of November 1, 2008 through November 30, 2008:</p> <p><strong>Total homes sold:&nbsp;&nbsp; 653</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;3</strong><br /><br /><strong>Average sales price for homes:</strong>&nbsp; $87,170<br /><br /><strong>Average sales price for condos:</strong> $58,560<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Macomb County Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.LookForHomes.com">www.LookForHomes.com</a></p> <p>&nbsp;</p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Mon, 01 Dec 2008 20:59:29 -0600 http://activerain.com/blogsview/816037/macomb-county-michigan-real-estate-residential-market-report-for-november-2008 http://activerain.com/blogsview/816030/macomb-township-michigan-real-estate-residential-market-report-for-november-2008- <p><strong>Macomb Township Michigan real estate residential market report for November 2008 </strong></p> <p><strong>I have prepared a report of the home sales data in Macomb Township Michigan for the month of November 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of November 1, 2008 through November 30, 2008:</p> <p><strong>Total homes sold:&nbsp;&nbsp; 44</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;10</strong><br /><br /><strong>Average sales price for homes:</strong>&nbsp; $194,035<br /><br /><strong>Average sales price for condos:</strong> $101,855<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Macomb Township Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Mon, 01 Dec 2008 20:53:25 -0600 http://activerain.com/blogsview/816030/macomb-township-michigan-real-estate-residential-market-report-for-november-2008- http://activerain.com/blogsview/816021/shelby-township-michigan-real-estate-residential-market-report-for-november-2008- <p><strong>Shelby Township Michigan real estate residential market report for November 2008 </strong></p> <p><strong>I have prepared a report of the home sales data in Shelby Township Michigan for the month of November 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of November 1, 2008 through November 30, 2008:</p> <p><strong>Total houses sold:&nbsp;&nbsp; 42</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;14</strong><br /><br /><strong>Average sales price for houses:</strong>&nbsp; $156,972<br /><br /><strong>Average sales price for condos:</strong> $79,561<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Shelby Township Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Mon, 01 Dec 2008 20:48:30 -0600 http://activerain.com/blogsview/816021/shelby-township-michigan-real-estate-residential-market-report-for-november-2008- http://activerain.com/blogsview/716525/macomb-county-michigan-foreclosures-for-sale-hud-properties-bank-owned-homes <table cellspacing="0" bordercolor="#111111" border="0" id="AutoNumber1" cellpadding="0" width="100%" style="height: 523px;"> <tbody> <tr> <td height="38" width="100%" colspan="4"> <p align="center">Visit <a href="http://www.MacombForeclosures.com">www.MacombForeclosures.com</a></p> </td> </tr> <tr> <td height="47" width="100%" colspan="4"> <p align="center">Macomb County Michigan foreclosure HUD listings</p> </td> </tr> <tr> <td height="28" width="100%" colspan="4"> <p align="center">Search over <strong>13,763</strong> foreclosures and HUD properties for sale in Macomb County Michigan!</p> </td> </tr> <tr> <td height="36" width="100%" colspan="4"> <p align="center"><a href="http://www.homesinmacomb.com/sellerform-text.htm">Let David Elya sell your property!</a> David Elya can help keep your property from foreclosure!</p> </td> </tr> <tr> <td height="31" width="100%" colspan="4"> <p align="center">Complete foreclosure property information with addresses, photos and more!</p> </td> </tr> <tr> <td height="126" width="50%" colspan="2"> <p align="center"><a href="http://www.homesinmichiganforsale.com/pages/Foreclosures.asp"><img src="http://www.macombforeclosures.com/macombcounty.gif" border="0" height="126" alt="Search for foreclosures in Macomb County Michigan" width="155" /></a></p> <p align="center">&nbsp;</p> </td> <td height="126" width="50%" colspan="2"> <p align="center"><a href="http://www.homesinmichiganforsale.com/pages/Foreclosures.asp"><img src="http://www.macombforeclosures.com/oaklandcounty.gif" border="0" height="126" alt="Search for foreclosures in Oakland County Michigan" width="155" /></a></p> </td> </tr> <tr> <td height="19" align="center" width="50%" colspan="2"> <p align="center"><a href="http://www.homesinmichiganforsale.com/pages/Foreclosures.asp">Click to Search for foreclosures In Macomb County</a></p> </td> <td height="19" align="center" width="50%" colspan="2"><a href="http://www.homesinmichiganforsale.com/pages/Foreclosures.asp">Click to Search for foreclosures In Oakland County</a></td> </tr> </tbody> </table> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Tue, 30 Sep 2008 15:29:03 -0500 http://activerain.com/blogsview/716525/macomb-county-michigan-foreclosures-for-sale-hud-properties-bank-owned-homes http://activerain.com/blogsview/716502/buy-michigan-hud-homes-with-only-100-down-and-get-2-500-in-closing-costs- <p><strong>Buy a Michigan HUD home with only $100 down and get $2,500 in closing costs!</strong></p> <ul> <li><strong>Revised Owner Occupant Sales Incentive as of October 1, 2008</strong><br /><br />$100 Down Payment Finance Option (FHA financing only)<br />$2,500 Sales incentive (for properties with a purchase price $25,000 or greater)<br /><br />Beginning <strong>October 1st, 2008</strong> all owner occupants (excluding HUD approved non-profit organizations, Good Neighbor Next Door participants, and units of local government) will receive $2,500 at closing for properties with a purchase price of $25,000 or more. <br />The $2,500 sales incentive can be used for the following items (for offers accepted after 10/1/08):<br /><br /> <p>&middot; Closing Costs</p> <p>&middot; Tax Pro-rations</p> <p>&middot; Repairs to the home</p> <p>&middot; Replacement of items in the home</p> <p>&middot; Pay down the unpaid principal balance of an FHA insured Mortgage</p> <br />If the funds are used for repair or replacement of items the incentive will be deposited in a repair escrow account for FHA financed sales or reimbursed upon submission of receipts. <br /><br />The $100 down payment financing is available on most properties through FHA approved lenders. Please note that the $100 down offer applies if the purchase price is less than or equal to the appraised value of the property. If the purchase price is greater than the appraised value, the purchaser may obtain a new FHA appraisal to support the higher mortgage amount or must pay cash in the amount of the difference between the appraisal and the purchase price less $100.</li> </ul> <p>Call David Elya 586-286-3283 for more info and a list of Michigan HUD properties</p> <p><a href="http://www.macombforeclosures.com">www.macombforeclosures.com</a></p> <p>&nbsp;</p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Tue, 30 Sep 2008 15:20:15 -0500 http://activerain.com/blogsview/716502/buy-michigan-hud-homes-with-only-100-down-and-get-2-500-in-closing-costs- http://activerain.com/blogsview/640469/shelby-township-michigan-real-estate-residential-market-report-for-july-2008- <p><strong>Shelby Township Michigan real estate residential market report for July 2008 </strong></p> <p><strong>I have prepared a report of the home sales data in Shelby Township Michigan for the month of July 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of July 1, 2008 through July 31, 2008:</p> <p><strong>Total houses sold:&nbsp;&nbsp; 53</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;16</strong><br /><br /><strong>Average sales price for houses:&nbsp; </strong>$205,120<br /><br /><strong>Average sales price for condos: </strong>$75,681<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Shelby Township Michigan please don't hesitate to contact me either via phone or email.</p> <p>&nbsp;<a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Wed, 13 Aug 2008 20:34:10 -0500 http://activerain.com/blogsview/640469/shelby-township-michigan-real-estate-residential-market-report-for-july-2008- http://activerain.com/blogsview/640428/housing-and-economic-recovery-act-of-2008-restrictions-on-down-payment-assistance-programs <p><strong>Restrictions on Down Payment Assistance Programs</strong></p> <p>Under the Housing and Economic Recovery Act of 2008 (ACT), several restrictions were placed on Down Payment Assistance programs (DPAs). The language in the ACT explicitly prohibits the following sources from contributing funds to the mortgagor's cash investment:</p> <p>&bull;(i)&nbsp;The <strong>seller or any other person/entity that financially benefits from the transaction</strong>; and</p> <p>&bull;(ii) <strong>Any third party/entity that is reimbursed by any of the parties</strong> identified above.</p> <p>&nbsp;"Any other person/entity that financially benefits from the transaction" should be deemed to include the seller, buying or selling realtor or their respective firms, builder, loan officer, broker, bank, etc.</p> <p>For ease of reference, all DPAs involving any of the parties noted above will be referred to as Seller-Funded DPAs.</p> <p>Effective with <strong>all FHA loans underwritten on or after October 1, 2008</strong> Seller-Funded DPAs are prohibited.&nbsp;</p> <p>In order to be excluded from this prohibition <span style="text-decoration: underline;">the final approval and sign off of the MCAW MUST precede October 1, 2008.</span> All loans containing a Seller-Funded DPA must close by October 31, 2008.&nbsp;Please keep this date in mind on existing and new applications as exceptions will not be granted. To ensure that mortgage companies can comply with this directive from the FHA, <strong>many mortgage companies will cease accepting new registrations wherein the applicant is utilizing a Seller-Funded DPA on September 1, 2008.</strong></p> <p>While the ACT prohibits Seller-Funded DPAs, it further states that:</p> <p>Down payments from other sources such as Community Development Block Grants (CDBG) and HOME assistance are permissible. Municipalities and other government agencies can continue to offer down payment assistance on or after October 1, 2008 provided that the assistance is in the form of a second lien; and</p> <ul type="disc"> <li>Amounts borrowed from a family member are to be treated as cash or cash equivalent as long as any lien for repayment is subordinate and the total liens do not exceed 100 percent of the value of the property plus appraisal, inspection and other fees. </li> </ul> <p>The October 1, 2008 effective date is intended to protect homebuyers and homeowners refinancing from a sudden change in these requirements,&nbsp;you should abide by the cutoff dates noted above.</p> <p>There are many people diligently sorting through other changes and requirements of the ACT, I wanted to alert you of this change as quickly as possible. Please continue to watch for updates to the FHA product.</p> <p>&nbsp;<a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Wed, 13 Aug 2008 20:05:28 -0500 http://activerain.com/blogsview/640428/housing-and-economic-recovery-act-of-2008-restrictions-on-down-payment-assistance-programs http://activerain.com/blogsview/573756/michigan-home-sales-in-may-2008-continue-their-rise-in-region <p><span style="text-decoration: underline;"><strong><strong>Michigan Home Sales Continue Their Rise in Region Sales Up for Entire MLS for 5th Consecutive Month</strong></strong></span></p> <p>Highlights Synopsis of Sales (5-08 vs. 5-07)</p> <p> <p><span style="text-decoration: underline;"><strong>Area May, 2008&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; May, 2007 Percent Change</strong></span></p> <p>City of Detroit 1,039&nbsp; &nbsp;771&nbsp;&nbsp;&nbsp; Up 34.8%</p> <p>Livingston 169&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153&nbsp;&nbsp; &nbsp;Up 10.5%</p> <p>Macomb 703&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; 636&nbsp;&nbsp; &nbsp;Up 10.5%</p> <p>Oakland 1,241&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,135&nbsp;&nbsp;&nbsp; Up 9.3%</p> <p>St. Clair Area 115&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;129&nbsp;&nbsp; &nbsp;Down 10.9%</p> <p>Wayne 2,072&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,766&nbsp;&nbsp;&nbsp; Up 17.3%</p> </p> <p>ALL MLS 5,288&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;4,691&nbsp;&nbsp; &nbsp;Up 12.7%<strong>&nbsp;</strong></p> <p> <p><strong></strong></p> <em></em></p> <p> <p>&bull; Entire MLS up for fifth straight month, YTD 12.7 <strong>% </strong>up over same time 2007</p> <p>&bull; Wayne County and the City of Detroit sales are up for the fifth straight month</p> <p>&bull; Macomb and Oakland Counties up 4 out of last 5 months</p> <p><strong> <p>Analysis:</p> </strong></p> <p>&bull; Sales up during May in Livingston, Macomb, Oakland, &amp; Wayne counties having positive effect on overall sales totals.</p> <p>&bull; Pending Sales (offers accepted, not yet closed) up in May in entire MLS.</p> <p><strong> <p>Key Factors/Indicators:</p> </strong></p> <p>&bull; Positive:</p> <p>- Homes priced to sell</p> <p>- Interest rates remain at historically low levels</p> <p>&bull; Adverse:</p> <p>-Michigan still 5th in nation in foreclosures keeping prices of homes lower than appraisals in many cases</p> </p> <p><strong>Source: Realcomp</strong></p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Tue, 01 Jul 2008 07:06:34 -0500 http://activerain.com/blogsview/573756/michigan-home-sales-in-may-2008-continue-their-rise-in-region http://activerain.com/blogsview/570083/shelby-township-michigan-real-estate-residential-market-report-for-may-2008- <p><strong>Shelby Township Michigan real estate residential market report for May 2008 </strong></p> <p><strong>I have prepared a report of the home sales data in Shelby Township Michigan for the month of May 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of May 1, 2008 through May 31, 2008:</p> <p><strong>Total houses sold:&nbsp;&nbsp; 43</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;19</strong><br /><br /><strong>Average sales price for houses:&nbsp; </strong>$198,257<br /><br /><strong>Average sales price for condos: </strong>$81,213<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Shelby Township Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Sat, 28 Jun 2008 09:31:07 -0500 http://activerain.com/blogsview/570083/shelby-township-michigan-real-estate-residential-market-report-for-may-2008- http://activerain.com/blogsview/570076/macomb-township-michigan-real-estate-residential-market-report-for-may-2008- <p><strong>Macomb Township Michigan real estate residential market report for May 2008 </strong></p> <p><strong>I have prepared a report of the home sales data in Macomb Township Michigan for the month of May 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of May 1, 2008 through May 31, 2008:</p> <p><strong>Total homes sold:&nbsp;&nbsp; 86</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;14</strong><br /><br /><strong>Average sales price for homes:&nbsp; </strong>$200,196<br /><br /><strong>Average sales price for condos: </strong>$106,407<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Macomb Township Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Sat, 28 Jun 2008 09:24:01 -0500 http://activerain.com/blogsview/570076/macomb-township-michigan-real-estate-residential-market-report-for-may-2008- http://activerain.com/blogsview/500845/spring-real-estate-market-shows-improvements-over-last-year-in-southeast-michigan <p><strong> <p>Great news just released from Realcomp MLS&nbsp;</p> <p><em>April 2008 Residential and Condo <span style="text-decoration: underline;">SALES</span> Summary by Area/County</em></p> <p>April, 2008&nbsp;&nbsp;&nbsp;&nbsp;vs.&nbsp; April, 2007 Percent Change</p> </strong></p> <p>ALL MLS 4,671 vs. 4,064 14.9% Up</p> <p>City of Detroit 932 vs. 544 71.3% Up</p> <p>Livingston 161 vs. 165 2.4% Down</p> <p>Macomb 650 vs. 494 31.6% Up</p> <p>Oakland 1,102 vs. 1,003 9.9% Up</p> <p>St. Clair Area 102 vs. 118 13.6% Down</p> <p>Wayne 1,774 vs. 1,418 25.1% Up</p> <p><strong><em> <p>April 2008 Residential and Condo <span style="text-decoration: underline;">PENDINGS</span> Summary by Area/County</p> </em> <p>April, 2008&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; April, 2007 Percent Change</p> </strong></p> <p>ALL MLS 6,822 vs. 5,372 27% Up</p> <p>City of Detroit 1,607 vs. 1,001 60.5% Up</p> <p>Livingston 212 vs. 177 19.7% Up</p> <p>Macomb 861 vs. 751 14.7 Up</p> <p>Oakland 1,659 vs. 1,333 24.5% Up</p> <p>St. Clair Area 146 vs. 153 4.5% Down</p> <p>Wayne 2,957 vs. 2,143 38% Up</p> <p><strong> <p>Highlights Synopsis of Sales (4-08 vs. 4-07)</p> </strong></p> <table cellspacing="0" border="0" cellpadding="0" width="552"> <tbody> <tr> <td> <p>&bull;&nbsp;&nbsp;&nbsp;&nbsp;Entire MLS up for fourth straight month, YTD <strong>10.84% </strong>up over same time 2007</p> <p>&bull;&nbsp;&nbsp;&nbsp;&nbsp;Wayne County and the City of Detroit sales are up for the fourth straight month</p> <p>&bull;&nbsp;&nbsp;&nbsp;&nbsp;Macomb and Oakland Counties up 3 out of last 4 months, with March being a tougher month</p> <p>&bull;&nbsp;&nbsp;&nbsp;&nbsp;YTD: City of Detroit up <strong>48.22%</strong> over last year</p> </td> </tr> </tbody> </table> <p><strong>Now,</strong> cleary is the time to buy a home in Michigan. Contact David Elya if you are interested in purchasing a home this year!</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Wed, 07 May 2008 16:30:47 -0500 http://activerain.com/blogsview/500845/spring-real-estate-market-shows-improvements-over-last-year-in-southeast-michigan http://activerain.com/blogsview/469363/detroit-michigan-area-foreclosures-decrease-16-percent-in-march-2008 <p>Great news from the great city of Detroit. According to the foreclosure rate in the metro Detroit Michigan area has <em><strong>decreased</strong></em> 16% in March of 2008. Foreclosure statistics continue to improve in the Metro Detroit area.</p> <p>Working with a REALTOR&reg;, buyers are now able to better afford a well priced home. To search for a property in foreclosure in southeast Michigan <a href="http://www.homesinmichiganforsale.com/pages/Foreclosures.asp" title="Seach Michigan foreclosures">click here</a>.</p> <p>To read the entire foreclosure article&nbsp;<a href="http://www.pr.com/press-release/80437" title="Detroit foreclosures decrease">click here</a>.</p> <p>Feel free to contact me with any questions!&nbsp;&nbsp;</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Tue, 15 Apr 2008 06:55:06 -0500 http://activerain.com/blogsview/469363/detroit-michigan-area-foreclosures-decrease-16-percent-in-march-2008 http://activerain.com/blogsview/430773/crains-detroit-announces-weichert-realtors-excel-47699-van-dyke-ave-shelby-township-mi <p><strong>WEICHERT, REALTORS&reg; - Excel</strong>, located at 47699 Van Dyke Ave., Shelby Township, is the new name of the former real estate agency of David Elya and Hank Mendez. It is now an independently owned and operated franchise with <strong>Weichert Real Estate Affiliates</strong> of Morris Plains, N.J. Elya is the agency's broker, and Mendez is co-owner. The office is home to 26 agents. Telephone: (586) 323-7000.</p> <p><a href="http://www.weichertexcel.com" title="WeichertExcel.com" target="_blank">Weichert Excel</a></p> <p><a href="http://www.crainsdetroit.com/apps/pbcs.dll/article?AID=/20080310/SUB/803100310&amp;SearchID=73312072633224" title="Weichert Excel" target="_blank">Read the Crains 03/10/08 article</a>&nbsp;</p> <p>&nbsp;</p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Wed, 19 Mar 2008 19:17:47 -0500 http://activerain.com/blogsview/430773/crains-detroit-announces-weichert-realtors-excel-47699-van-dyke-ave-shelby-township-mi http://activerain.com/blogsview/422328/weichert-real-estate-affiliates-adds-14-new-offices-to-its-franchise-network- <p>In total, 14 new franchise offices joined the Weichert roster during January and early February of 2008.</p><p><a href="http://www.weichert.com/pressreleases/PressRelease.aspx?art=340">http://www.weichert.com/pressreleases/PressRelease.aspx?art=340</a></p><p>New affiliates that joined the Weichert network include: </p><ul><li>WEICHERT, REALTORS&reg; - Goodchild Homes, Palatine, Ill. Serving the Chicago area, this company is owned by broker Elizabeth Goodchild and her husband, David Goodchild. </li><li>WEICHERT, REALTORS&reg; - Real Estate Express, Houma, La.&nbsp; Debra Chauvin is the broker/owner of Weichert&#39;s first affiliate in the Creole State. </li><li>WEICHERT, REALTORS&reg; - ABG Properties, Louisville, Ky. The first Weichert franchise in Kentucky is owned by Brokers Allison Bartholomew and William Friel. </li><li>WEICHERT, REALTORS&reg; - Twin Ports, Duluth, Minn. and Superior, Wis. The two office company is owned by Kurt Bartell, Tom Bridge, and Brokers Bobbi and Steve Germond.&nbsp; The company marks Weichert&#39;s introduction to the Duluth/Superior market. </li><li>WEICHERT, REALTORS&reg; - Heartland, Faribault, Minn.&nbsp; Owned by Brokers Jim Barta and Larry Harn and Realtors Lori Gustafson and Jeanne Taylor. </li><li>WEICHERT, REALTORS&reg; - Downum Group, Springdale, Ark. Broker Bob Downum and his wife, Sandra Downum, are the owners of Weichert&#39;s third Arkansas franchise office. </li><li><strong><a href="http://www.weichertexcel.com/" title="Weichert Excel" target="_blank">WEICHERT, REALTORS&reg; - Excel</a></strong>, Shelby Township, Mich.&nbsp; Serving the Detroit Metropolitan area, the company is owned by Broker <strong><a href="http://www.davidelya.com/" title="David Elya.com" target="_blank">Dave Elya</a></strong> and <strong><a href="http://www.hankmendez.com/" title="Hank Mendez.com" target="_blank">Hank Mendez</a></strong>. </li><li>WEICHERT, REALTORS&reg; - Miller Associates, Menomonie, Wis. Broker Raimi Hainstock&#39;s company is Weichert&#39;s third franchise in the Badger State. </li><li>WEICHERT, REALTORS&reg; - Cook And Company, Billerica, Mass. Broker/owner Kim Cook&#39;s company increases the Weichert network of office serving the Boston area to 10 offices.&nbsp;&nbsp; </li><li>WEICHERT, REALTORS&reg; - Elite, San Diego, Calif.&nbsp; The first Weichert franchise in San Diego is owned by Brokers Mark Marquez, Donna Sanfilippo, and Erik Weichel.</li></ul><p>Weichert Real Estate Affiliates launched its first franchised office in January 2002 and currently serves some 330 markets in 35 states. </p><p>Weichert has nearly 18,000 sales associates in more than 500 company-owned and franchised sales offices in key markets throughout the U.S.&nbsp; A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance.&nbsp; For more information, Weichert&#39;s customer service center can be reached at 1-800-USA-SOLD or at Weichert&#39;s Web site, www.weichert.com.&nbsp; Each Weichert franchised office is independently owned and operated.</p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Fri, 14 Mar 2008 06:29:16 -0500 http://activerain.com/blogsview/422328/weichert-real-estate-affiliates-adds-14-new-offices-to-its-franchise-network- http://activerain.com/blogsview/402096/macomb-township-michigan-real-estate-residential-market-report-for-february-2008- <p><strong>Macomb Township Michigan real estate residential market report for February 2008 </strong></p> <p><strong>I have prepared a report of the home sales data in Macomb Township Michigan for the month of February 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of February 1, 2008 through February 29, 2008:</p> <p><strong>Total homes sold:&nbsp;&nbsp; 38</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;12</strong><br /><br /><strong>Average sales price for homes:&nbsp; </strong>$245,635<br /><br /><strong>Average sales price for condos: </strong>$153,251<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Macomb Township Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Sat, 01 Mar 2008 08:05:24 -0600 http://activerain.com/blogsview/402096/macomb-township-michigan-real-estate-residential-market-report-for-february-2008- http://activerain.com/blogsview/402091/shelby-township-michigan-real-estate-residential-market-report-for-february-2008- <p><strong>Shelby Township Michigan real estate residential market report for February 2008 </strong></p> <p><strong>I have prepared a report of the home sales data in Shelby Township Michigan for the month of February 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of February 1, 2008 through February 29, 2008:</p> <p><strong>Total homes sold:&nbsp;&nbsp; 29</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;6</strong><br /><br /><strong>Average sales price for homes:&nbsp; </strong>$267,208<br /><br /><strong>Average sales price for condos: </strong>$129,811<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Shelby Township Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Sat, 01 Mar 2008 08:02:46 -0600 http://activerain.com/blogsview/402091/shelby-township-michigan-real-estate-residential-market-report-for-february-2008- http://activerain.com/blogsview/402089/macomb-county-michigan-real-estate-residential-market-report-for-february-2008- <p><strong>Macomb County Michigan real estate residential market report for February 2008</strong></p> <p><strong>I have&nbsp;<strong> p</strong>repared a report of the home sales data in Macomb County Michigan for the month of February 2008.</strong></p> <p><em>The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.<br /><br /></em>For the period of February 1, 2008 through February 29, 2008:</p> <p><strong>Total homes sold:&nbsp;&nbsp; 354</strong></p> <p><strong>Total condos sold:&nbsp;&nbsp;97</strong><br /><br /><strong>Average sales price for homes:&nbsp; </strong>$167,966<br /><br /><strong>Average sales price for condos: </strong>$107,215<br /><br /><br />If you would like more detailed information in regards to the market value of <em>your </em>home in Macomb County Michigan please don't hesitate to contact me either via phone or email.</p> <p><a href="http://www.lookforhomes.com/">www.LookForHomes.com</a></p> David Elya ABR, e-PRO, GRI - Broker Owner (WEICHERT, REALTORS® - Excel) Sat, 01 Mar 2008 07:59:19 -0600 http://activerain.com/blogsview/402089/macomb-county-michigan-real-estate-residential-market-report-for-february-2008-