Lately I have been showing Rochester and Rochester Hills homes to two different buyers.  Rochester is a nice stable community.  Located off I-75 or M-59 it is not too far from the City of Detroit.

What I have been noticing is that many colonials have been selling for very reasonable prices.  I have looked at so many Rochester Hills homes.  If you look at the Rochester Hills homes under $250,000 you will notice that they are selling under a $100,000 a square foot.

Many selling for under $80 a square foot home.  Some of these Rochester homes were move in ready.  Now that is a deal.

 I think there still are some bargains in Rochester Hills if you are looking to buy. Information courtesy of RealComp II Ltd.

The latest scam in Metro Detroit real estate is homeowners short saleing their house to a relative.  It is not supposed to happen.  In fact many banks have a form that the buyer signs that they are not related to the seller.  But it is happening.  I myself have heard of one and have heard of others lately.

The one I know of (or believe I know of) was helped by the real estate agent.  He was a friend of theirs. I think the Northville home went for over $500,000 originally.  Then the homeowner bought it back for about $300,000.  Not bad to shave off $200,000 off your mortgage. The way they are being able to do a Metro Detroit short sale like this is by having a relative with a different last name.  Sometimes it is an in-law,  sometimes a future wife, or sometimes even a spouse of a relative.

It is fraud if you sign a document that says you are related, and you really are.  I know we all want to help our family out but you going to jail to save them money is not the smartest thing to do.  Our prisons are full of people that thought they were really smart.

It's not worth going to jail for.  Just my thoughts.  May you and your family have a great week!

Yes the banks are getting smarter but it is a little too late.  What I am noticing right now is that banks are cutting off business credit lines.  Many of the borrowers just paid interest on the loan.  Now banks are requiring many borrowers to start paying down the credit line.

The three people I know that have credit lines can barely afford to pay the interest let alone pay them down..  Out of the three people I know none of the business's are doing well.  They may all close down their businesses.  I wish all of them the best.

I just don't know if it would have been better that the banks never loaned them the money at all.  Who am I to judge.  I just hope all these good people land on their feet.  

 In the last 6 months there have been 220 Commerce Township homesthat have sold. Out of the 220 homes that have sold 182 have been priced under $260,000.  Like most of the Metro Detroit real estate market it is the lower price range that is selling.  The upper end homes are sitting on the market longer.

Of the 220 Commerce Township homes that have sold in the last 6 months it has taken an average of 120 days to sell.

I hope this gives you a look at what is happening in Commerce Twp real estate market.  Info courtesy of Realcomp II Ltd

that my wife's pains aren't from her cancer.  My wife Marianne is a three time cancer survivor.  And lately she is in a lot of pain.  She's had it for six weeks now in her upper back near her shoulder blade.  I had to pressure her to go in to the doctor.  She always feels it's better to put it off.  Out of site out of mind is her motto when it comes to the cancer.  I can't get into how I got her to go to the doctor (otherwise I would be dead).

But she went last week and got a bone scan.  We got great news that it wasn't cancer.  But she's in tremendous pain.  She taking 4 motrin at a time, on ice packs, icy hot, vicodene.  She's up at night and in pain during the day.  So all of you active rainers with a hot line with prayers....Marianne can use a few.

She's going into the doctor tomorrow to find out more.  So who knows what is wrong, but at least she is going in on her own.  

"Earnest money deposit" or "good faith deposit" is the amount of money that you put down as a gesture of good faith.  You see you have to put down what the call consideration.  A legal contract is made up of three things. 

1. Offer -what you put down in the contract and sign
2. Acceptance - What the seller agrees to and you agree to.
3. Consideration - something of value.  Money, a check.  In Metro Detroit real estate it is usually $500, or $1000 or more that the real estate company or title company holds.

If you have any questions about Metro Detroit real estate purchase agreements feel free to call me on my cell (313) 310-9855.

 Here is what is happening in the Farmington Hills real estate in the last six months.  There have been 418 Farmington Hills homes that have sold in the last six months.  Out of 418 Farmington Hills homes 314 of them have been under $210,000.

The average sold price for Farmington Hills homes is $162,873.00 (the last six months) and on the average they took 120 days to sell.

I hope this quick Farmington Hills real estate update gave a glimpse of what is happening in Farmington Hills.  Information Courtesy of Real Comp II Ltd.

Whether you are selling Livonia real estate or any Metro Detroit real estate here are tips how to keep your house safer when selling it.  What I mean by safer is keeping your valuables safer.

When you sell your house you need to put your valuables out of reach of potential criminals.  I'm not saying potential lookers or potential home buyers are going to steal from you.  But why give anybody temptation.

So here are my tips:

• Put your jewelry in a safe, lockbox, or at a trusted friends house.
• Guns, especially pistols should be hidden, or locked up
• Cash, change jars, wallets, payrolls should not be left lying around
• Documents that have account numbers, social security numbers should not be left out on counters, or in top pull out drawers. 
• Anything valuable that is easily pocketed or put in a purse should not be left around.

Potential buyers open drawers, and open closet doors.  We as real estate agents can't watch every movement of buyers when we go through houses.  Anybody that is a thief and is looking to steal has it already figured out how they are going to do it.  They know where to look.  They know where you will keep your valuables.

So be smarter than them store your valuables somewhere other than your home when selling your house.  The reason I am writing this is because I was in a Livonia home today where in the kids room there was a hundred dollar bill laying around.  At some point that hundred dollar bill is going to be missing.  So be sure to get your kids piggy banks too.

I hope these Livonia real estate and Metro Detroit real estate sales tips help you.  

 We got the clear to close today and now what do we have to do when buying Metro Detroit real estate

 Now that we are clear to close and have the date and time set up this is what happens next.   Your lender sends the closing documents to the title company.  The title company prepares the final HUD statement which is the final numbers document.  The title company figures out the tax pro rations and put all the closing fees on one document.  Then they send it back to the lender for final approval.  Then your lender will call you with the final number you need to bring to closing.  You lender may not call you until the day of closing with those numbers.  Though most of the time they get it to you the day before.  If you have an early morning closing they will get it to you the day before.   Here is what you need to bring to closing. 

• A picture ID  preferably your driver's license.  You can not close without this.
• The check with the full amount your lender told you.  It must be a cashier's check.  The title company will not accept personal checks.  Have it made out to you and then at closing you will sign the back of it and sign it over to the title company.
• Bring a copy of the homeowner's insurance just in case the title company needs it.

Also before closing be sure to have the utilities switched over into your name.  The seller will be shutting them off on the day of closing.  So you won't have any lights in the house that night.  If the house is a foreclosure you may have switched over the utilities already for the inspection so disreguard this.

• DTE                                         800-477-4747
• Consumers Power                     800-477-5050

If you have any last minute questions feel free to pick up the phone or we will see you at closing.

It took some time but we finally got the deal closed on the Livingston County water front home.  It was a for sale by owner who picked an attorney out of the yellow pages because the attorney lived close to them.  Boy was that a mistake.

It took 2 months to get this Livingston County water front home closed.  Sure it needed propate court approval, but 8 weeks on a cash deal!!!!  I had to call the attorney at least twice a week to keep them moving.  Sadly the attorney always had an excuse why this or that wasn't done.  The only reason it closed this week is because I set the closing and alerted all parties that is was closing today.  Even though the attorney wasn't ready to close it.

The attorney had to get the document from the court.  Something he had been putting off for three weeks.  He of course didn't show for the closing.  The seller said he would have fired the attorney, if it wouldn't have slowed the deal down more.

Unfortunately this happens way too much in our business.  Every once in a while the other real estate agent, title company, attorney, or mortgage company just falls down on the job.  Even though I got this one closed today, I got a bombshell on another deal.

A downriver home needs a city inspection to close.  Sadly the real estate agent never bothered to order it and only ordered it when I called to schedule the closing.  Yes that agent fell down, but we are at least on the right path.  And today I got the news that the title work came in on another house after 26 days.  Again the real estate agent didn't order the title work for 16 days, then the title company didn't send it over for 10 days.  The mortgage company was calling every single day for the past week.  Sadly the listing agent and the title company didn't do their job well on that deal.

But that is what my clients pay me for.  To handle the issues and push the other people to get their job done.  It's my job to call, and to be the pain in the rear so the deal can close.  Hopefully on time, hopefully without cost to my client, and as soon as possible.  With as little stress as possible.  That's my job to get your home deal closed.  No matter if it is a Livingston county water front home or just Northville real estate we all have to do our job well.