Livingston County Real Estate

5250 Hidden Pines, Brighton MI 48116 - New Listing

Tue, 07 May 2013 07:11:48 -0700

Here's a beauty! 3800+ sq ft, exquisite master suite, gorgeous kitchen - all in a great sub with a lodge, pool and tennis courts. Close to downtown Brighton and I-96 access, you can enjoy the 'up north' feel of Pine Creek Ridge, formerly the Charles Howell Boy Scout Camp.

This home has a first floor master, 3 bedrooms up and 3 full and 1 half bath. High end kitchen appliances, brazilian cherrywood flooring, and a finished basement wiht an additional full bath. Zoned HVAC, dual water heaters with a circulating pump and a four car garage. You'll love it here. See the complete listing at: http://www.realestatemich.com/10/listing/23583. $499,9000. MLS# 213041095

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Livingston Realtor Food Drive - May 4th

Wed, 17 Apr 2013 13:40:01 -0700

Every year the Livingston County Association of Realtors conducts their ‘Fill The Gazebos’ food drive for Gleaners Food Bank in downtown Brighton and Howell . May 4^th is the day for 2013. Cars can drive up and have volunteers take food donations, which are piled under the gazebos.

Collectors can also be found at some of the larger grocery stores, piling extra food into pickup trucks for the food drive. Many local real estate brokerages are collection sites in the weeks leading up to May 4^th, also. We load the food into trucks and it gets taken to the food pantry in Genoa Township, to serve our area’s hungriest families.

Please consider participating this year. You can drop off food at Preview Properties real estate office (130 W. Grand River, Brighton 48116) before the event, or drive down Main Street in Brighton on May 4^th and have volunteers take it – you won’t even have to park (but you will have to stop!). The gazebo at the historic Howell Court House is another collection site.

I regret that I’ll be at a conference that day so I can’t volunteer, but I will be making my own food donation before that date. Keep an eye out for sales and think about buying a few extra cans or boxes of food for the drive. Some items that are wanted are meat sauce, macaroni and cheese, canned meat, peanut butter & jelly and cereal. See the flyer here.

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Signs Of Spring

Tue, 16 Apr 2013 03:10:13 -0700

We live in a big country. We have almost every conceivable global climate within our borders. It shouldn’t surprise us that here in SE Michigan, we can have a very lovely Spring day while our friends in Colorado are getting hammered by a snow storm. But there are always little joys if you have your eyes and ears open.

I had the windows down as I drove today, and in a wetland area, the peepers were almost deafening. I pulled over and just listened to the chorus of small frogs carry on for a number of minutes.

My tulips have started to sprout, but are still quite short. Our winter has been stubborn this year, so even with a couple of warm days, I expect more cold days to come. Visiting a listing today, I was made happy by the appearance of another harbinger of Spring – the crocus.

Sitting in an unassuming garden bed, they were the only splash of color present. The iridescent purple petals offset by bright orange anther were like little spotlights in an otherwise drab setting. I grabbed my camera and took a few shots, even though the overall setting was not the most attractive, but let’s face it, crocuses don’t hang around long. You had better enjoy them when you can!

They sprout and blossom to announce the end of the winter season, then promptly go back to ‘stealth’ mode until the following season. I’m glad I caught them when I did, and I’m glad I could take a few minutes to enjoy the spring peepers, too.

photo by Bob Smith

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Earth Day 2013

Mon, 15 Apr 2013 13:40:31 -0700

In case you didn’t know, Earth Day falls on April 22^nd of each year. Started in 1970 to support environmental protection, this event is now fully international. The Earth Day Network (http://www.earthday.org) is emphasizing the ‘Face of Climate Change’ in 2013, but in truth there are many facets to Earth Day, and many ways to celebrate it and support environmental wisdom and consciousness.

Too much trouble to recycle? Start with something small. As small as a 9 volt or AAA battery. Don’t just dump them in the trash, find an old bucket or margarine tub and put the used batteries in it. When it’s getting full, you can likely find a recycle point right in your community. As an example, my post office has yellow buckets (look just like a kitty litter bucket) under the counter in the 24 hour area of the building. Next time you’re at the Post Office – drop ‘em off! My County (Livingston) has a list on their web site of all the municipal collection sites and the restrictions (no car batteries).

How about newspaper and office paper recycling? Don’t dump them in the trash. Put them in a cardboard box and when it starts to get full, find a paper recycling bin near you. You know there’s one close by. They’re usually brightly colored so you really can’t miss them. Look around Elementary Schools and Churches.

Then you can move up to light bulbs. My local Lowe’s Home Improvement store has a bin right as you walk in. You can take the burned out bulb with you to be sure you’re buying the correct replacement, and then leave the bad one there for recycling. How easy is that?

There are many, many things you can do all year round – so start now and don’t wait until Earth Day 2014 to act. Celebrate Earth Day every day!

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Poster Child For Having A Home Inspection

Mon, 01 Apr 2013 06:40:29 -0700

Yup, here it is. The poster child for having a home inspection. Doesn’t look horrible, does it? (Immediately after repairs, clean up not completed, interior looked awesome!)

Well, this REO was a ‘blue tarp special’ when I got the assignment – as in the complete roof was tarped. All of it. After damage assessments by 4 contractors, the repairs included some new siding, a complete new roof and gutters, miscellaneous interior repairs, interior/exterior repaint, new carpet and new kitchen appliances. Wow, did this house show well after the repairs were done!

And with over 2200 sq ft of space, a double lot and privileges to an all sports lake, it had a lot of showings and multiple offers. Then the successful bidder had it inspected.

They found extensive prior termite damage, a foundation problem, a well issue, non-conforming duct work and a whole lot of other things that weren’t horrible on their own, but as Bogart said to Mary Astor at the finish of movie, The Maltese Falcon, “Maybe some of them are unimportant. I won’t argue about that. But look at the number of them.” (He was talking about love, not a house, but it works here, too.)

Yes, there were mitigating circumstances. This house started life as a small, seasonal cottage, had been added onto at least a couple of times, and had been made a full time residence. Some of the defects were seen only when you got into a tight crawl space, others from multiple small attic spaces. That’s why the contractors missed seeing them. And to be honest, the house in its condition when assigned to me had a lot to see. It had, quite frankly, a high visual distraction quotient.

If you have client that wants to skip this important step and save a few hundred bucks, tell them the story about the poster child for having a home inspection – and sit on them until they agree.

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Oak Pointe Honors - 3771 Honors Way, Howell 48843

Sat, 30 Mar 2013 15:28:21 -0700

Here's a great new listing. 4 bed/3 full and 1 half bath, 4 car garage, half acre lot with golf course frontage.

This is a foreclosure but the bank has done a complete interior repaint and recarpet, replaced the missing refrigerator and they even painted the interior fo the garage! Beautiful screend deck with a ceiling fan and two skylights, located conveniently between a tee box and a green so you shouldn't have to worry about errant golf balls.

3496 sq feet + 1815 sq ft basement with a wet bar with beverage center, a home theatre room and another full bath.

Great room has a gas fireplace, kitchen is outstanding, office/library, formal dining room and living room complete the package. List price is $430,000.

Offers cannot be submitted to the bank until day 8.

Local agents be sure to review documents attached to listing. Consumers can view the listing on my web site at:

http://www.realestatemich.com/10/listing/23410

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Homeowner Equity Rising

Tue, 26 Mar 2013 12:29:13 -0700

The good news is - CoreLogic, a leading real estate industry data and analytical service, reported earlier this month that 1.7 million U.S. homeowners are now ‘above water’ again. Of course, nobody likes or wants ‘negative equity’, but unless you were trying to sell or refinance your home it didn’t make a lot of difference – except mentally.

The bad news? Over 21 million percent of homes with a mortgage are still underwater. That’s around 10.4 million homes, according to CoreLogic. 3.9 million of them are properties with first and second mortgages. They have an average value of $296,000 and the average amount of negative equity is $80,000.

The worst states? Nevada, where 52.4% of all homes are underwater, Florida has 42.4%, Arizona is at 34.9%, Georgia at 33.0%, and yup – Michigan is at 31.9%. These 5 states represent over 32% of all underwater homes nationally.

If you'd like a market analysis of your home, please contact me through my website.

graphic courtesy of nattavut/freedigitalphotos.net

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

First Robin Sighted!

Sat, 16 Mar 2013 09:25:44 -0700

Here in SE Michigan the '1st Robin of Spring' usually means warmer, nicer weather. Not today.

For the last couple of years, the weather on St. Patrick's Day has been in the 70's. In fact, for the last two years, I've been able to get my first round of golf for the year played on March 16th or 17th. Not this year. It appears that our local groundhog prognosticator, Woody the Woodchuck (who resides at the Howell Nature and Conference Center) and the nationally known Puxsatawny Phil have both misled us. Early Spring, indeed.

It was still great to see a relatively plump robin in my serviceberry tree this morning, even though we had a light snow overnight. And Spring often means that home sellers are getting ready to list homes. If that's you, consider calling me for a frank discussion on price trends and market dynamics. I'd love the opportunity to help you with your real estate needs.

photo courtesy James Baker, freedigitalphotos.net

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

No Frills All Thrills Trail Race, 3/23/13 - Brighton, MI

Fri, 15 Mar 2013 04:51:17 -0700

On Saturday, March 23rd, the Brighton Area Road Striders (BARS) will host their annual race, the No Frills All Thrills Trail Run at the Huron Meadows Metropark in Brighton.

This year, the race changes from a 5 mile distance to an 8K (4.97 miles). New this year is the 'Half Thrills' 4K event (2.48 miles) if you're not in shape to go the full distance - or if you just want to finish earlier and get back to the refreshment table before the 8K'ers come in.

The race is professionally timed, offers unique awards and has been a staple on the early season trail running circuit for many years. The park offers gently rolling hills with heated rest rooms. A metropark pass is required to get into the park and you can buy either a daily or season pass on the day of the event. Season passes are good for all Huron Clinton Metroparks in SE Michigan through 12/31/13.

Starting in 2010, BARS began donating most of the race proceeds to Girls on the Run of SE Michigan, and plan to continue that effort again in 2013. Girls on the Run is a program for 8-12 year olds that uses running to teach girls about their personal power and the importance of being active and healthy.

For more info on this event, see the race web site at http://www.NoFrillsAllThrillsRace.com. You can find out more about Girls on the Run at http://girlsontherunsemi.org, and visit the BARS running club web site at http://www.BrightonAreaRoadStriders.org. BARS also has a weekly run, Wednesdays at 6:30 pm, beginning at the Brighton HS Fieldhouse. Check their website for updates as they run from downtown Brighton once a month, too.

So let's get out there and run!

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Livingston County Home Show Coming!

Tue, 12 Mar 2013 05:09:01 -0700

If it’s time for the Livingston County Home Show, Spring can’t be far behind – regardless of the weather.

Show hours are 5-9 pm on Friday, March 22^nd, 10am – 8pm on Saturday, March 23^rd, and 10am – 4pm on Sunday, March 24^th. It will be at the Howell High School Field House, and admission is only $6/person, $5 if you’re a senior (60 or older). On Saturday, from 11:30 am – 3pm, the show will also feature the popular ‘Taste of Livingston’.

There are workshops and demonstrations at various times and of course, plenty of contractors and vendors to see. If you’re planning a home project, this will time well spent.

The show is hosted by the Howell Chamber of Commerce. Get more info at:

http://www.livingstoncountyhomeshow.com/hours.htm

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Change Your Smoke Detector Batteries Saturday March 9th

Mon, 04 Mar 2013 11:52:01 -0800

We all know that it’s a great, easy to remember time to change your smoke detector batteries when we adjust our clocks to ‘Spring Forward’. But so many of our devices are now ‘smart’ and change time automatically that we may overlook changing the batteries in our smoke detectors.

Even if you have hardwired detectors, the battery backup is essential for times when you may lose power. And why wait? Who wants to hear the annoying chirp-chirp of a smoke detector?

While you’re at it, consider upgrading your protection to a combination smoke-carbon monoxide detector. They start as low as $33, and if you’re already using a separate plug-in model CO2 detector, you can reclaim some outlet space and get rid of those clunky looking devices, too. It’s a much cleaner look to have the combination ceiling detectors. In any case, you should have a CO2 detector on each floor of your house and within 15 feet of the bedrooms to insure that everyone will hear it if it sounds while you’re sleeping.

Many fire departments will donate and install smoke detectors for free to struggling families. Don’t overlook neighbors, senior citizens or fellow church members that may be having a tough time financially. Fires are devastating, and a smoke detector is your front line of defense.

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Property Tax Appeals

Mon, 04 Mar 2013 09:25:31 -0800

For those of you that are homeowners and who haven’t yet subscribed to my real estate e-newsletter (why not?), here’s some great information for appealing your property tax assessment that you probably missed seeing. I get numerous calls every year about this very topic – this year they started in January.

State Senator Joe Hune (22^nd Senate District) has put together a very informative brochure that you find useful if you want to make an appeal. First, you have to appeal to your municipal Board of Review. Don’t forget to make an appointment for this!

If you fail at the local level, you can appeal to the State Tax Tribunal. The brochure correctly states that you do not need an attorney to do this, but my anecdotal evidence over the years seems to point to a higher success rate when you are represented by either an attorney or a Certified Public Accountant (CPA).

Follow the format in the brochure to be as well prepared as possible. You can find it on my website at:

http://www.realestatemich.com/102/Property-Tax-Appeals

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

First Time Buyer Programs

Mon, 04 Mar 2013 06:09:42 -0800

First time buyers are finding the combination of a USDA Rural Development loan and a Michigan State Housing Development Authority (MSHDA) $3,000 grant a great combination. First time buyers for purposes of the MSHDA grant have a few stipulations, but you can review the program outline here.

Not all locations are approved for the USDA Rural Development (RD) program. Your lender or real estate agent can check to see if the house you are interested in qualifies by its location. All homes in Livingston County qualify, even if they're located within the cities of Howell or Brighton. Please note that RD has its own buyer qualifications, too.

If you write an offer on a property and are using Rural Development, be sure to increase the usual time to close, as the offices handling those loans typically have a backlog of up to 28 additional days. Again, your agent or lender can guide you on current backlog times.

Affordable homes are flying off the market, so it makes sense to have a game plan in place. Get pre-approved, know what type of loan you're going to use, and be prepared to write that offer with the most information you can get. A good lender and a great real estate professional can help you get there. And feel free to call me if you have questions.

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Who Says You Can't Get Blood Out Of A Seller?

Wed, 23 Jan 2013 09:01:34 -0800

Can't get blood out of a seller? Or a buyer? Or how about a real estate professional, a lender or even a turnip? Well, yes you can. OK, maybe not the turnip. But you can get blood out of the rest of the above - and from yourself.

As part of its ongoing community service activities, Preview Properties in Brighton, Michigan is hosting a blood drive for the American Red Cross on Tuesday, January 29th from 11 am to 4:45 pm. Donating is easy and you get the chance to potentially affect the lives of 3 people in a positive way. And while supplies last, donors will be getting coupons for a free donut from Dunkin' Donuts. So if you know any policeman that can swing by, this might be right up their alley!

You can sign up and schedule your appointment at http://redcrossblood.org (Sponsor Code is PREVIEW) or call 1-800-RED CROSS. You may also call Lisa Bohlen at 810-220-1505. Appointments are honored, walk-ins welcome if space permits.

And Preview Properties is a major drop off center for the Cell Phones for Soldiers program, too, so bring along any old cell phones you may have to help the members of our Armed Forces.

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

LED Faucet Sets With Temperature Control

Sat, 12 Jan 2013 14:21:47 -0800

LED faucet sets with temperature control? Hmm. Perhaps for the geekiest of people, these faucet sets and shower heads are battery operated and react to the temperature of the water to go from blue to yellow/green to red. The kitchen faucet set works with a couple of watch batteries and is simply an adapter that connects tot the existing spout. Bathroom faucet sets and shower heads need AA batteries.

I haven’t been able to track down the manufacturer, but they are probably made in China. No word of how long the batteries last. Most likely these are pure ‘conversation pieces’ and novelty items right now, but we said the same thing about electric hand dryers and motion sensing faucets once upon a time, too.

Here's a couple of links for the various fixtures.

http://www.thinkgeek.com/product/8122/
http://goo.gl/uSRz5

http://www.meritline.com/single-handle-chrome-waterfall-led-bathroom-sink-faucet---p-48299.aspx

Know anybody that has one? Are you going to try them? In either case, I’d appreciate it if you drop me a line and let me know what you think about LED faucet sets with temperature control.

Looking for a home in Brighton or Howell Michigan? I can't guarantee they'll have this kind of fixture, but I'd be happy to find you a great new home!

Image courtesy of prettydarncool.co.za

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Mortgage Debt Forgiveness Act Extended Through 2013

Wed, 02 Jan 2013 11:38:57 -0800

This is really good news! Congress has extended the Mortgage Debt Forgiveness Act as part of the fiscal cliff deal. What does it mean to you?

Well, really, nothing unless you’re going to sell your home as a short sale this year. Or, perhaps if you have a neighbor that needs to do a short sale. What the Act did was to prevent the homeowner from being taxed on the forgiven debt that was part of the short sale. Prior to the Act going into force in 2007, if you were forgiven $20,000 worth of debt on the sale of your home, the IRS treated it as income and you had to pay taxes on that amount. Tough to do when you could prove a hardship and couldn’t make your mortgage payment to begin with!

It was anticipated that without the extension of the Act there would be no incentive for consumers to go through the stressful and rigorous short sale process and it would likely result in more ‘walk aways’, i.e., strategic defaults. Not good for the homeowner, not good for the neighborhood. It’s always better to have homes occupied rather than sitting vacant.

As an aside, did you know that ‘fiscal cliff’ was one of Lake Superior State University’s entries on its annual ‘Banished Words’ list this year? It sits alongside other terms like “kick the can down the road,” “boneless wings,” and “bucket list.” See the list here.

And while you’re reading the list, feel good that the Mortgage Debt Forgiveness Act was extended – even if ‘fiscal cliff’ has been banished.

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Short Sales – Should I Go For It?

Mon, 24 Dec 2012 08:32:35 -0800

Homeowners in trouble ask themselves, “should I go for a short sale?” a lot. Or at least they should!

Contrary to the belief of some consumer’s, you CAN get short sales done even after a Sheriff’s Sale. Of course, the further behind you are in your payments, the harder it will be. And remember that if you are close to end of your redemption period (6 months after the Sheriff’s Sale in Michigan), the bank may not be very motivated to do a short sale. After all, they’ll soon be getting the property back anyway. So the more time you have to get the sale negotiated the better.

Banks are doing more and more short sales. Some studies have documented that the bank can gain as much as $60,000 more from a short sale than a foreclosure. Of course, every case is different. And if you had tried and were rejected for a loan modification, don’t let that stop you from trying a short sale, either. Loan mods and short sales are usually handled by different corporate departments and have different criteria for approval.

A huge part of completing a short sale successfully will depend upon the agent that you choose and your level of committment. This type of transaction is very time consuming with a lot of tedious details that need attention. Don’t just hire the first agent that you talk with. If you’re considering a short sale – call me for a confidential appointment to discuss your options.

image courtesy of scottchan/freedigitalphotos.net

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Foreclosure - Ranch Home For Sale in Howell Michigan

Mon, 17 Dec 2012 16:28:28 -0800

Here's a great, ready to move into foreclosure - a ranch home in Howell, Michigan. All the hard work's been done. New 40 gallon water heater, roof, gutters, kitchen cabinets and counters, vinyl flooring and carpet, paint - just move in!

This home is on paved East Barron Rd, just east of Oak Grove Rd. You're minutes from M-59 and Michigan where you'll find plenty of retail and grocery shopping. It sits at the back of 2.43 acres, but there's room to build a garage if you wish. Most of the lot is between the road and the house for privacy. It's in the Howell School District and Howell Township.

If you're looking for a foreclosure ranch home in Howell, don't pass this by. It's priced at $142,500. See the full listing here. Address is 125 E. Barron, Howell 48855.

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Lakefront Homes For Sale Near Hartland Michigan

Thu, 13 Dec 2012 14:59:11 -0800

There are 15 lakefront homes for sale in the Hartland Michigan school district. All but one is in the $110,000 to $399,900 range. The exception is a $990,000 home on a private lake and 80 acres in Oceola Township.

The price range per square foot is $63 to $193. Only one is a short sale property and none of these are foreclosure homes. They have been on the market for an average of 239 days and all have been for sale for at least 2 weeks or longer. Six of these homes are priced at under $200,000.

The lakes on which these homes can be found are Handy Lake, Maxfield Lake, Long Lake, Lake Tyrone, Lake Shannon, Bullard Lake, and Wallace Lake.

If you’re looking for lakefront homes for sale in the Hartland Michigan area give me a call!

image courtesy of Evegni Dinev/freedigitalphotos.net

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

For Sale By Owners – Are You Getting Offers?

Tue, 11 Dec 2012 05:43:09 -0800

The number of homes for sale by owners themselves has been pretty low the last few years because of the economic conditions. We are finally starting to see a few more 'for sale by owner' signs pop up here and there. But is it really wise to try to sell on your own?

Sure, I've been around (15 years in real estate), so I know that this decision is based upon the premise of saving the commission. But how much are you really saving? As a full-time real estate professional I can tell you that the lending environment has gotten tougher. Even with my diligence and monitoring, there are new issues coming up all the time. Funny little underwriting requirements that can delay or even kill a deal, for example. You don't save much if your sale falls apart.

Then we have inspection issues, title issues, perhaps County or municipal requirements. Some loan types require more things to be handled than others (FHA or USDA Rural Development loans), for example. Once you’re ready to move do you want to have a huge disappointment and start from square one?

I’ve seen a few buyers in the last couple of years that cut their timing so close that they had a loaded truck on closing day, waiting to move into their new house. Unfortunately, they closed at 4pm on a Friday afternoon and escrow didn’t close until Monday – meaning they couldn’t have the keys and take possession. The same thing can happen to sellers expecting to deposit a check, or worse – needing that money to close on their next home. Don’t let these things happen to you.

Selling a home and moving onto the next phase of your life should be a happy occasion. Well, if not always happy, it should at least be as stress-free as possible. If you’re thinking about selling your home without the aid of a real estate professional, please give me a call. I’d like to show you how I can make the process as easy and stress-free as possible.

I’m a no-pressure person, you either see the benefit or you don’t. In return, I’ll be happy to share a couple of my home seller resources with you just for meeting with me before you offer your home for sale by owner.

image courtesy of digitalart/freedigitalphotos.net

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Fannie and Freddie halt foreclosures for the holidays

Wed, 05 Dec 2012 07:33:20 -0800

I saw this hit the news yesterday and was planning to blog about it myself, but Jennifer's post is so well written that I decided to just re-blog her!

Via Jennifer Ferri (Title Junction, LLC):

Homeowners facing foreclosure just received an early Christmas present: They won't be evicted from their homes over the holidays.

Mortgage giants, Freddie Mac and Fannie Mae, announced Monday that they will suspend all bank repossessions beginning December 17 and December 19, respectively, and will not resume the evictions until January 2, 2013.

"The holidays are a chance to be with loved ones and we want to relieve some stress at this time of year," said Terry Edwards, Executive Vice President of Credit Portfolio Management, Fannie Mae.

According to Freddie spokesman, Brad German, the suspension will not affect other pre- or post-foreclosure activities, such as the filing notices of default or the scheduling of auction sales. Fannie said in its press release that other legal and administrative proceedings will also continue.

Bank of America said it will also put a halt to foreclosure evictions both for loans it owns and for those it services for investors during the holiday period. Other large mortgage lenders, including JPMorgan Chase, Wells Fargo and Citibank have postponed foreclosures during the holidays in the past, but have yet to say whether they will do so again this year.

The reprieve is separate from the previously announced moratoriums on foreclosure evictions for victims of Superstorm Sandy in New York, New Jersey and Connecticut, which will continue through February.

By Les Christie, CNNMoney

Jennifer Ferri

Owner and Operator

Title Junction LLC

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Expiring Mortgage Debt Act To Increase Strategic Defaults?

Mon, 03 Dec 2012 07:44:15 -0800

Last December I blogged about strategic default. That is, consumers that walk away from their mortgage even though they have the ability to continue making their payments. It results in foreclosure, of course.

If the Mortgage Debt Act is allowed to expire by a deadlocked Congress, will this encourage more struggling homeowners to walk away instead of trying to sell their homes by short sale? Currently, homeowners don’t have to pay tax on the forgiven debt. If the Act expires, the forgiven debt will be treated as income (a ‘gift’) and will be taxable.

In September (2012) Housing Wire reported that 1 million Home Affordable Modification Program (HAMP) loan modifications were cancelled by lenders after their 3 month trial. HAMP terms are likely the most appealing to homeowners having financial difficulties – if they qualify. The government predicted this program would help 3 to 4 million homeowners, but as of September 2012, only about 825 thousand made it past the three month trial period. Less than $3 billion of the over $29 billion set aside for this program was actually spent.

Home Affordable Refinance Program (HARP) and lender-based refinances are also options, but they also have requirements that may be tough to meet or the savings may be minimal. That’s why short sales remained attractive to many underwater homeowners.

Like all things financial right now, these are complicated and interwoven subjects, but it seems possible that the expiration of the Mortgage Debt Forgiveness Act will have the effect of causing more strategic defaults and therefore foreclosures. Write your legislators and tell them to extend the Act today.

graphic courtesy Stuart Miles, freedigitalphotos.net

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Holiday Home Maintenance Tip – Garbage Disposals

Sat, 01 Dec 2012 10:05:30 -0800

The average life expectancy of a garbage disposal is approximately 10-12 years. I’m guessing that most of us have never read the ‘owner’s manual’ for our disposal since it’s already installed when we buy the house. These units typically get a work out over the holiday season and that’s absolutely a horrible time for them to fail.

I’m providing a link to a short (97 second) video, courtesy of American Home Shield, the folks that sell Home Warranties. This one is about maintaining your garbage disposal and is worth watching.

If interested, you can find the model of your unit on the disposal tag and search online to find the complete manual. But if you don’t want to do that, here are a few tips to keep it running smoothly.

DO NOT:

· Put fats, greases and oils down the disposal or try to grind potato peels and coffee grounds – you’re almost sure to clog your drains

· Put large amounts in the disposal at one time – that can clog things up and overwork the motor

· Grind large bones (beef, pork)

· Use harsh chemicals like bleach and drain cleaners – they’re corrosive and can damage blades

YOU SHOULD:

· Run the disposal regularly to keep parts moving and prevent corrosion

· Cut big items into smaller pieces

· Use cold water, not hot, when grinding food

· Occasionally grind citrus peels to keep the sink smelling fresh (avoid using chemical ‘sweeteners’)

There is a range of opinions on using a disposal with a septic system. These tend to be strictly ‘yes’ or ‘no’, but as long as the items are biodegradable, don’t have fats, oils, or greases in them, you may be alright – as long as you’re not grinding a lot of material on a regular basis. A good alternative is to compost most of your food waste and keep the disposal volume low when you’re on a septic system.

In any case, you should expect that you will need to pump your tank more often if you’re using a garbage disposal even on an infrequent basis. My County Health Department (Livingston County, Michigan) recommends that you DO NOT use a garage disposal with a septic system. Here’s a link to their guide on using septic systems.

I’m also providing a link to a short article on disposal maintenance and lifespan from the good folks at ehow.com. If you read these few short items, you’ll have a great idea of how to keep your disposal running well and extending its useful life.

And if you're looking for a home - with or without a disposal - give me a call!

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

What’s Your Home’s ‘Sell By’ Date?

Wed, 14 Nov 2012 08:36:35 -0800

My wife and I sometimes have a discussion about dates on food items. There’s a ‘sell by’ date, sometimes a ‘use by’ date, even a ‘best if used by’ date, depending on the product. She wants to dump them on that date, I tend to keep using them for a couple of days beyond.

Sometimes it’s aesthetic, sometimes it’s for safety. The ‘Sell By’ date is largely for stores. It helps them to pull slow moving items that may have reached their peak for freshness, consistency and taste. But often, you can still consume those products beyond that date. Note: I wouldn’t recommend trying that with the milk two weeks later, though. My wife and I agree on that one!

Successfully selling your home can have many nuances, too. Price and condition are two biggies. Upgrades and features (or amenities) are some others. Add to these factors more subtle influences like color schemes, quality of that new carpeting, floor plan and traffic flow, and professional staging. All can play a role in the sale of your house. Small things like dishes in the sink or laundry hampers overflowing can also detract from an otherwise acceptable home.

Regardless of the issues above, if you price your home more than a few percent over the market value, it will likely not sell. Or it will take longer to sell and will sell for less. So when I go on listing appointments, I like to ask, “What’s your sell by date?” Most people have an ideal time to be in their next home. It may be for work purposes, to be reunited with family members by an important date, or even related to a seasonal change.

It’s ironic that sometimes when you price a little bit low it’ll sell for more. How can that be? Because buyers are very attuned to the real market value for what they seek. They’ve been looking at listings, viewing homes, and doing their homework. They can make the mental adjustments for a location liability (backs up to rail road tracks or highway), school system (good but not the best rating), and distance to the interstate and shopping. And they can do it quickly.

When an underpriced home (even slightly underpriced) hits the market, buyers will jump on it. Multiple offers are not uncommon. And while it’s rare to get more than 5-6% above listing price, I’ve had a couple of sales this year that were in the double digit over list price range. If you want to move sooner rather than later, you should be more aggressive with your pricing – and that DOES NOT mean you’re giving your house away.

Sellers in no particular hurry often make a bigger mistake by “trying it out at a higher price,” thinking they can reduce the list price later. By then, buyers are thinking there’s an issue with the house and will not perceive it the same as when it’s new to the market. Consult your real estate professional to arrive at the correct pricing to get your sale completed by your “sell by” date. And if you need help with determining that value, I’m happy to assist.

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE

Buy New Or Used?

Mon, 12 Nov 2012 05:06:37 -0800

That question doesn’t just apply to buying a car. Part of the American Dream, for some people at least, is to own a new home. New, as in just built. Certainly there are benefits and disadvantages to either – a new or existing (used) home. Let’s look at a few of them.

Existing homes. Depending on the age and location, it could have been built with better materials, exhibit more true craftsmanship, and perhaps have architectural ‘character’ and features that are all but impossible to replicate today.

Down sides might include a lower energy efficiency level, the possibility of needing extensive updates and difficulty finding similar building materials when you do modifications or repairs. The task of modernizing a very old home to today’s standards while retaining its original charm can require a lot of planning and effort. In most cases it is a labor of love.

New Homes. Certainly a big plus is the ability to make some decisions about options, color schemes and perhaps even features (within certain builder parameters). Hazardous materials like lead-based paint will be moot, and you’ll likely have a robust electrical system for today’s living. Two and three car attached garages and plenty of bathrooms will not be uncommon, either. Many young families like living with similar aged households because both they and their children will develop friendships nearby.

Negatives will include the cost of landscaping, living with construction noise, traffic and debris until the neighborhood is built out, and if you’re an early buyer you will find it difficult to compete against the developer if he’s still selling ‘new builds’ when you decide to move.

There is no global best choice. It will really depend upon your motivations, goals and desires. While this is not a comprehensive listing of the benefits and disadvantages of either type of home, I hope it gives you something to think about. Construction is starting to perk up in the area.

New South Lyon homes are being built with greater frequency, as are homes in the Brighton and Howell areas. If I can assist you with your home search, feel free to contact me!

Bob Smith
Preview Properties, PC
130 W. Grand River
Brighton, MI 48116
http://www.RealEstateMich.com
810-220-1478

'Like' my facebook page http://facebook.com/MichiganRE