Michigan homes for sale

Oakland County waterfront homes for sale

Wed, 08 Jul 2009 22:19:47 -0500

What is great about Metro Detroit is that within an hour of downtown Detroit there are hundreds of recreational lakes for any life style. There are Oakland County all sports lakes for the active water skier, knee boarder, tuber,or wake boarder.

There are quiet Oakland County lakes that don't allow motorized boats. There private lakes that limit the amount of boats that are on the lakes.

If you have a Michigan relocation in your future and are searching Metro Detroit real estate you will find a Oakland County waterfront property that fits your budget.

There are over 320 named lakes in Oakland County MI. Some are really small ponds but the biggest one is about 1250 acres. Whether you want to get a bottle of wine, cheese, and crackers or a cooler full of beer with chips taking a leisurely boat ride on you pontoon is a great way to relax.

There are some people that love lakes but others in the family that think lake water is dirty. So wouldn't be nice to enjoy a warm swim in your infinity pool while the lake water is still cold. You could be sitting there and watch the wildlife in the lake.

Can you imagine a nice swing or hammock here with a cold drink?

Or sitting with your kids watching the sun go down over the lake?

If you are moving to Michigan or just looking for a Oakland County lake home give me a call I will get you set up to receive Oakland County waterfront home listings daily or weekly.

Russ Ravary your metro Detroit real estate agent

Search Oakland County Lake front homes for sale and get the latest listings emailed to you.

photos courtesy of Realcomp Ltd II

Metro Detroit real estate market

Wed, 08 Jul 2009 07:38:13 -0500

I continue to be busy selling homes in the metro Detroit real estate market. In the last week I have had for closings, and 4 new offers put in. It is tougher to win a bid on low priced Metro Detroit foreclosures if you need a mortgage. There are cash buyers out there. We have lost (out bid on highest & best bids) to cash buyers even up to $100,000. But we are winning them here or there. It usually takes about three or four bids to win a house. This is the usual scenario.

That is simply because at first the Metro Detroit home buyer wants to put in a low ball bid on the foreclosures. I tell them that they are going over list price and I print off the last Metro Detroit foreclosures that have sold. But they usually don't listen. So they lose the first one.

Then we go out to look at some more homes. But another bid in a little higher or at list price. We lose that one too. I give them the list of the latest foreclosed homes that have sold in the last 45 days that shows list price and sold price. The home buyer finally really looks at it and realizes that they have to bid higher than list price on good or decent homes.

Then they are in the ball game. The next one the bid higher. Then there is a good to great chance of winning.

This scenario plays out every time I take foreclosure buyers out. They have heard about the great deals that people are buying. So they first think they need to low ball the bid. But finally they realize that these Metro Detroit foreclosures are priced so low that they are great deals even over list price.

I want to scream sometimes but I know that if I am patient the client will learn the hard way. They just don't know any better. They just met me and don't have complete trust in me yet. But after a while they realize I am right. I see too many homes in a week and bid with too many clients. I do know the metro Detroit real estate market fairly well. But I'll be going out next week with new foreclosures buyers and do the whole scenario all over again.

Russ Ravary your Metro Detroit real estate agent

Search Metro Detroit foreclosures

Why do short sales take so long?

Tue, 07 Jul 2009 21:19:01 -0500

My question back to you is........... if you were a business owner how much money and manpower would you put on a project that was going to lose you tens of thousands of dollars monthly?

That's what happens with banks. They don't have a huge department handling short sales. The people that handle them at the bank are over worked and understaffed for the amount of Metro Detroit short sales that come through.

When an short sale offer is submitted to a bank the bank asks the seller for all the information to prove that their is a financial hardship. Some of the documents the bank requires to prove a financial hardship are:

tax returns
w-2s
recent pay stubs
financial hard letter
medical records if it pertains to medical condition
the banks forms

Usually the seller has to be late on the house payments. Once the bank gets the hardship documents they hire an appraiser or real estate agent to give them a fair market value of the Metro Detroit home. Then it sits on a somebodies desk.

At some point they assign a negotiator to handle the case. Again it takes time. This bank personnel is handling lots of cases. There most likely be lost documents, no communication, memory lapses. The banks are over whelmed.

Then the other issue I see is that you have is that you have a guy making $50,000 that is making a decision to have their bank lose $100,000 or more in some cases. It sometimes has to go through multiple layers of approval. Sometimes there is another bank to deal with. It is going to take time to get a Metro Detroit short sale done. A metro Detroit short sale can take up to 6 months. So if you aren't patient or if you don't have the time don't put an offer on a short sale.

Russ Ravary your Metro Detroit real estate agent

Search Metro Detroit short sales and metro Detroit homes for sale

How long does it take to get an offer accepted?

Tue, 07 Jul 2009 20:37:50 -0500

That's a common question I get from a Metro Detroit first time home buyer. There is no rock solid answer. I will break this up into Metro Detroit foreclosures, short sales, Metro Detroit HUD homes, and private owned houses. What happens is that we send the offer to the listing agent. Then

PRIVATE OWNED HOUSES - the listing agent tries to contact the homeowner. The homeowner may be out of town on business, may have a family emergency so it may take time to get an answer. Remember this offer isn't more important than the sellers job, or the sellers kids, or the sellers family function. So the offer may sit on a desk for a day. But the average response time for a private owned home is usually anywhere from 2 hours to 2 days.
METRO DETROIT FORECLOSURES - The listing agent usually works from 10 to 5 each day. So if it is after hours it won't usually get looked at until 10 o'clock the next morning. Then it is shipped over to the bank. Sometimes it takes a whole day to get over to the bank from the listing agent. Then the bank personnel may take another day to look at it. So it usually takes at least 2 days up to two weeks to get an answer on a purchase offer for a Metro Detroit foreclosure.
METRO DETROIT HUD FORECLOSURES- We submit the bid on line. Then it depends whether it is in the initial 10 day owner occupied purchase period or it is daily bidding. If it is in the intial ten period we will get an answer the day following the end of the period. Or we will get an answer by 4 pm the following day if it is daily bidding.
METRO DETROIT SHORT SALES - We send the offer to the listing agent. The seller usually automatically accepts it. Then the listing agent and seller have to send all the info to the seller's bank to get approval. The seller's bank then hires somebody to give them an estimate of market value. Then the paper works sits on somebodies desk. Eventually the bank assigns the short sale case to an employee. Eventually the case works it through the system. A Metro Detroit short sale can take anywhere from one month to six months. The average time is 3 to 4 months. At that time the bank can reject doing the short sale for the seller. (for whatever reason they want)

These are just estimates of how long it may take to get an answer when you put in your purchase offer. It may be quicker or may be longer. We never know. So don't depend on them.

Russ Ravary your Metro Detroit real estate specialist

Search Michigan foreclosures and Metro Detroit homes for sale and get the latest listings emailed to you

I'm not that kind of real estate agent

Tue, 07 Jul 2009 07:34:44 -0500

With the current economy and real estate market we deal with a lot of REO listing agents (for those of you that don't know what that means it means agents who handle bank foreclosure listings). There are some that are good at their job but there is a percentage of them that are unethical and basically dirt bags. They don't care about ethics, your clients, their word, simple customer courtesy.

Some foreclosure agents will NEVER call you back. So you never know what is going on with the offer. Your clients are left in the dark until the foreclosure agent blesses you with a denial email or acceptance. Once in a while you win one with these agents. But you have no voice contact. I never want to be that way. Communicating with the other agent always makes the deal go smoother.
Some foreclosure agents will verbally tell you have a deal and then two weeks later you don't have on. One case that happened to one the agents my office is that a clients offer was verbally accepted. They were waiting for the banks addendums to be emailed to them. This went on for two weeks. At that time they were told the house was sold in a block to somebody else. The foreclosure listing agent got both commissions so he sold the house out from underneath the buyer. I too just had one ripped off after my client accepted the banks counter offer. Two days later they changed their mind and sold the house to somebody that offered more. If I need to make money that way I don't want to be a real estate agent.
Some agents will list the house. You go out there with clients and then submit your offer. But your offer never even makes it to the bank. When the sale price shows up on the MLS it is much lower than your offer price. The foreclosure agent has sold the home to a buddy or friend. So much for real estate ethics. There is no way to prove it because the asset managers are unidentifiable. I still want to be fair to all people that put an offer in. I don't want to be a sandbagger.
Then there is the just plain nasty agent. I recently had a deal where the young lady had to fix the house to meet the city certificate of occupancy requirements. She did quite of bit of work and spent her money because the bank required the buyer to do the city inspections and work. Well those items delayed the mortgage a little and the closing was going to be delayed a day or two. The agent was nasty and threatened to cancel the deal. Shame on him. No human decency at all from that agent. The buyer had to put money into a house they didn't own (because of the listing agents rules) and the other agent wanted to cancel it because it was fixed up now and he could sell it for more. He's a dirt bag plain and simple. I never want to be like him.

Unfortunately this is happening frequently in the Metro Detroit foreclosure market. Anything goes and you just hope you win the bid. It's pure luck right now whether a client wins a bid. And usually it will take two or three tries to win. Then we work thru it to get the deal closed no matter how many hurdles or hassles the listing agents give us. It's not always easy but we get the clients the home once the banks signs the offer. We often deal with these kind of agents that have no care for clients. They just care about the amount of money they make.

But my philosophy is that I treat people the way I would want to be treated. Life's too short to be a jerk. Sure more money 's is good but I'll do without it if I ever have to treat people that way.

Russ Ravary your Metro Detroit real estate agent

Search Metro Detroit foreclosures and get the latest listings emailed to you.

Help from Active Rainers I need an email address.

Mon, 06 Jul 2009 21:19:27 -0500

Who has an email address of an asset manager at Fannie Mae? I am trying to get a local problem resolved and I am looking to get an email address to send my problem. I don't know if the ending is Fanniemae.com or if they have another shorten version for email.

If anybody has a good solid email address I would greatly appreciated. My clients are getting the shaft from a fannie mae asset manager and I am trying to get the problem resolved. You can email me at info@russravary.com if you don't want to leave the email address in the comments.

Ah the age of technology and the banks shell game!!!

Sun, 05 Jul 2009 22:03:26 -0500

I had a client put in an written signed offer on a Metro Detroit foreclosure last week. It was a nice Farmington Hills foreclosure. I sent it over to the listing agent along with the copy of the deposit money. I sent via email and fax and requested confirmation of receipt. The listing agent email me back to confirm he got it. The listing agent is also the broker.

The Metro Detroit real estate agent/broker emailed me and said the bank had a counter offer of 192,000. He said to send a counter offer back as we were close to working out a deal. I talked to my client and and I emailed the listing agent/broker that we would accept the offer.

Well imagine my surprise today (2 days later) when I got an email from this broker stating that he had received two more offers and that it would most likely be a highest and best offer scenario. He also stated he wasn't jerking me around and the offers were not from his office. We didn't have a deal on the Metro Detroit foreclosure anymore.

I emailed him and told him I thought we had a deal. Things like that upset me. It's like a shell game. We have a deal. We don't have a deal. But it is in writing. That's what contracts are made of. I told him that I thought it would hold up in court with everything being in emails and in writing back and forth. (Thank goodness I don't delete any email pertaining to a deal until the deal closes.)

I even told him that my clients were young. I told the listing broker I just expected my clients to be treated like he would want his family to be treated. He kind of blew me off and said "he wished he could sell us the house" but..............he had a fiduciary duty to his client.

Well I told all of this to my clients who are upset of course. But luckily they have an attorney friend that is looking over the emails and going to advise them. I am hoping that this constitutes a valid contract in the eyes of the law.

I am so tired of the banks jerking the real estate industry around. So I am hoping the attorney can hold the bank's feet to the fire. I am hoping to hold the listing agent's feet to the fire for performance of the contract. I think the emails and technology should make a good case for the courts.

A ruling for the future. Banks can't rewrite the real estate rules and we have to start holding them accountable to the rules of real estate and our industry. They can't run our business their way.

Russ Ravary your Metro Detroit realtor

I want to wait to put an offer in

Thu, 02 Jul 2009 22:11:11 -0500

I heard that today. That is good. Metro Detroit home buyershave to feel comfortable and in control when putting in an offer. Some Metro Detroit real estate agents push buyers to put in an offer right away. Make a decision quick. But you as a home buyer need to set the pace.

Sure the house may be gone. Especially if it is a foreclosure that is in good shape and price cheaply. It probably will go quickly but if you are unsure or uneasy do what make you feel comfortable. If you feel bad about missing out on a deal maybe next time you will feel comfortable about making a quick decision about a good foreclosure.

Many times I take home buyers out and we see a nice house on the very first time out. Most home buyers are smart and don't get rushed. They take their time to make a sound decision after reviewing recent sold comparables and looking at a reasonable number of home choices.

So don't let any real estate agent rush you. But at the same time once you make a decision, don't wait to put in the offer. If you like the house and want the house don't wait. Good houses priced reasonably don't last so don't wait to long.

Russ Ravary your Metro Detroit Realtor serving Wayne and Oakland County

HVCC and the killing of the real estate market

Wed, 01 Jul 2009 22:34:47 -0500

Does anybody realize what the new HVCC rules are going to do the real estate market? If the appraisers are so tight with the appraisals and values how will home values ever go up?

I had a young first time homebuyer that was buying a Livonia condo. She had put an offer of $122,000 in but the bank came back and said it was only worth $118,000. So my Livonia condo buyer had to come to the table with $4000 more because the sellers couldn't sell it for less. They owed that much on it.

Banks are now and appraisers are now determining market value. My client thought it was a fair price. It wasn't outrageously high. Or extremely unreasonable. But there was no Livonia condo that sold for that price in the last six monthes. There were two other offers that were full priced offers on the condo. So we weren't bidding crazy. We only go it because we had 20% down and the others were FHA offers.

Isn't that the way it is when real estate values go up? A home will sell for more than a neighbors when the demand is high. That's the way the real estate market works. Supply and demand determines price.

But that isn't the way it is going now. I wonder how long it will take Washington DC to realize they really screwed up. They have basically put a cap on real estate values in the US.

Leave it to Washington politicians to screw everything up. Home values can now go down but how will they ever go up if banks and appraisers only value the house on past sales. Doesn't what a buyer will pay really determine market value?

It is going to be real interesting and quite a while before everybody realizes what they have done.

CONGRATULATIONS WASHINGTON POLITICIANS ON PUTTING ANOTHER RESTRAINT ON THE REAL ESTATE MARKET. SO MUCH ON THE HOUSING RECOVERY.

One step forward two steps back.

Russ Ravary your Metro Detroit real estate agent

What kind of information do you need to make an offer?

Wed, 01 Jul 2009 21:54:55 -0500

The key to making a good offer that will secure the Metro Detroit home you want is to know the market. You can never guess the sellers thoughts or believe what public records show. Let me give you some examples.

A couple of years ago my home buyers put an offer on a Northville home. It was owned by a retired couple that had moved out. The house was empty. The public records showed they owed nothing on the house. The listing ticket said "bring us an offer"

We put in a 13% below list price offer in. The house needed total updates. They turned us down.

Here's another one. My clients were looking at a Novi home. The public records showed they bought the house for $420,000 2 years prior. We put in an offer of $371,000 when the list price was $410,000. The public records showed they owed $375,000. We thought we would be countered. They accepted the $371,000 offer.

Then we came to the closing to find out the sellers had to come to the closing with $20,000 to sell the house!

On my first example who would believe that somebody that

owed nothing on the mortgage
had moved out
and stated to bring us an offer

would turn down a decent offer on a home that needed total updating. The house sold for $10,000 less three months later.

Then my second experience who would have thought that somebody would have accepted so little so quick when they owed so much.

Both offers were based on current market prices so they were good offers. The people that should have accepted didn't and the ones that did accept the current market prices did. You never know how a seller will react to an offer. So if you base your offer on current sales prices the you will be putting in a good offer. How the seller reacts you can't control. Then you just have to adjust your offer or move on after you hear from the buyer.

Russ Ravary your Metro Detroit real estate agent

Search Northville homes for sale

Search Metro Detroit foreclosure listings

Has the world gone crazy?

Wed, 01 Jul 2009 20:20:18 -0500

Or am I losing it? I guess I don't understand what some people are thinking anymore. Metro Detroit has been hit hard but some people just don't get it. Here are some examples of the craziness.

I have a friend that has been out of a job for over a year. My wife works at a staffing agency and a job came up that fit my friends credentials to a "T". The recruiter talked to my friend but she "can't make it in until next week. She has a hair appointment. WHAT!!!!!!!!!!! You're unemployed you can reschedule your hair appointment. How many job interviews have you been on in the last month. ZERO!!!!

Here's another one. Now I'm a guy so I don't quite get this one. A realtor friend of mine is just about ready to lose her house. But she is still going to the hairdresser, still getting manicures and pedicures. Excuse me if you are homeless it doesn't matter if your nails are done does it? Am I right or am I being a guy on this one.

We have the same craziness in the real estate business. I tried calling a Metro Detroit real estate agent about a home. My client had some questions about it. Do you think he called me back after 2 days, 3 calls and an email? NO. I guess he doesn't want to sell his client's house too much.

He's another one. This one I don't feel sorry for. It is a FSBO (For Sale BY Owner) I have called him twice to set up showings for a Northville relocation buyer. Both times he couldn't or wouldn't have the house available for us to see. He wanted to set the time for us to come. My relocation clients have a limited amount of time. So it has to fit their schedule of seeing employers, future schools, and homes. This Metro Detroit FSBO doesn't get it. I guess that is why sometimes Metro Detroit Realtors and lockboxes are needed. If you are selling a home to have to make it available to show when the buyer wants to see it not when you have time.

Many times when a Metro Detroit relocation buyer comes into town we sometimes see 30- 60 houses in a short period. Add the stress and confusion of kids, living in a hotel, and trying to get accustomed to the area. It's a crazy time for the home buyer. I try to keep the days and times as short as possible for the buyer. So if a home seller wants us to drive from the far side of a city 10 miles away to see their home 4 hours later rather than accommodating us when we were down the block seeing another home. Well most of the time the house doesn't get seen. It usually has to fit into the game plan of 1 or 2 days.

So to any of you crazy people..... before you blow off the only job interview you had in a month think about what you are doing. Or before you tell the prospective home buyer you're too busy to sell your house think about it.

Russ Ravary your Metro Detroit real estate agent

Highland Township foreclosures MI

Tue, 30 Jun 2009 21:07:31 -0500

I am noticing that there are great deals in Highland Twp. You are getting a bigger house with a little bigger bit of land for a great price in Highland Township MI. Here are all the homes that have sold in the last 30 days in Highland Twp.

The average price per square foot last month was $75.5. That's great. Especially since many of the homes were on over .3 of an acre. There were even three homes that had over 5 acres. I am noticing these kind of deals in many of Metro Detroit outlying areas.

If you are looking for some space, a reasonably priced home yet within a hours drive of Detroit give me a call. There are lots of great deals out there whether it is Highland Township, Howell, or Pinckney.

ADDRESS	LIST PRICE	SALE PRICE	SP PER SQFT	SQUARE FOOTAGE	ACREAGE	LOT DIMEN
3510 MAPLERIDGE	58900	51000	21.2234	2403	0	50X120
3365 LAKEVIEW DR	79900	69500	71.7234	969	0	120X120
2200 HORSESHOE	200000	172000	65.2256	2637	10.25	420X568X865X945
2520 JACKSON BLVD	99500	85900	42.7363	2010	0	29.57X153
513 GLENEAGLES	230000	215000	63.6848	3376	0	129X141
2670 VERO DR	389900	390000	106.267	3670	0.76	101X102X326X340
284 REID RD	114900	114900	64.1183	1792	0.51	75 X 300
3442 PLEASANT VIEW DR	49900	49000	32.9966	1485	0	90 X 75 X 118
2085 HORSESHOE DR	158900	175000	67.7769	2582	5.19	277X200X901X938
2438 HUFF PL	124000	117500	83.2152	1412	0.43	80X55X276X290
2627 OVERBROOK	299500	252000	91.9037	2742	0	202X168X189X230
3089 HICKORY STONE LN	450000	425000	141.6666	3000	5.01	44X588X89X521X711
2105 TIMBER RIDGE CT	184500	173000	67.6574	2557	0	IRREG PIE SHAPE
4127 LOCH DR	99900	106000	37.4823	2828	0.3	80X161
681 GLENEAGLES	200000	206000	89.7994	2294	0.39	120X140
3665 HERITAGE FARMS DR	136900	134900	90.1737	1496	0.52	193X42X200X191
3450 E CLARICE AVE	159900	152000	114.2857	1330	0.25	60X60X186X199
2440 WILLOW LN	59900	57900	47.2267	1226	0.65	75X380
4265 HUNTERS DR	178900	152000	161.5302	941	0	40X125
4715 EAGLE RD	72900	69900	43.2549	1616	0	50X50X130X130
3780 WOODLAND DR	49900	50000	29.1036	1718	0	40X40X125X125
4015 CHEVRON DR	250000	208000	115.8129	1796	0.45	110 X 180
2710 DAVISTA DR	38000	34000	39.0804	870	0.17	50X50X150X150
661 NAIRN CIR	424900	424900	123.9859	3427	0.54	236X134X142X143

Search Highland Township foreclosures and homes for sale get the latest listings emailed to you weekly, daily, or monthly.

Russ Ravary your Metro Detroit Realtor serving Oakland, Livingston and Wayne County real estate

Comp and sales information courtesy of Realcomp II Ltd. Homes shown above have been sold by various Realtors

I'm seeing this in the metro Detroit real estate market

Tue, 30 Jun 2009 19:53:33 -0500

1.) Are you seeing this happening in your real estate market.. I took out a client tonight. They just retired and they had bought a new construction home in Canton bout 5 years ago. Their Canton home has lost over 40% of its value. Neighbors that are buying homes in Canton MI have payments a thousand dollars less than theirs.

At retirement age they are realizing that the home will never be worth what they paid for it. That if one of them dies they can't afford the house. They are realizing that why should they pay all that money in a payment when the person next door isn't. That the next door neighbor paid $100,000 less.

The guy just got a cash buyout for retirement and they are thinking of paying cash for a smaller home and not having any payments in retirement.

Here is another example of what is going on in the Metro Detroit real estate market

2.) Husband and wife just got married. Husband had a Novi home. But now the original Novi home is worth $100,000 less than it was 6 years ago. They are walking away from the original home and buying a much bigger and newer home for a lower house payment than they had.

Is it wrong? Is it financially smart? Would you do it? Does it make sense? Isn't it just getting back the money we gave away to the big banks and their executives?

This is the fourth deal I am working on like this. I myself think a few people are getting financially smarter. I myself think they are doing the right thing. Sure it may not be morally or ethically right, but financially it is the right decision.

Russ Ravary your Metro Detroit real estate agent

Wow waiting is hard

Mon, 29 Jun 2009 21:13:42 -0500

Whenever a home buyer puts in an offer the worst part is yet to come. The waiting, the uncertainty is so rough. Everything goes through your mind.

What is taking so long?
Did I bid too low?
Did I bid too high?
What is the seller thinking?
Are they going to accept our offer?
Should I have put more down?
Does it normally take so long?
What is taking so long?
What is taking so long?

My advice I too keep busy. Visit friends, go to a local festival, see a movie, take the kids out. Enjoy yourself. But keep your cell phone handy so your agent can get a hold of you. Nothing is more frustrating to an agent than getting an answer and then not being able to get ahold of our client for a day.

Russ Ravary your Metro Detroit real estate agent

helping buyers and sellers with Livingston, Oakland, and Wayne County real estate

Search Metro Detroit foreclosures and get the latest home listings emailed to you.

Uniroyal Tire, Metro Detroit's roadside attraction

Sun, 28 Jun 2009 23:49:02 -0500

What else would you expect as a roadside attraction in Detroit? Yes we have a 80 ft tire. I guess nobody got around to building the 200 ft car to go with it.

The Giant Tire was originally created by U.S. Rubber (now Uniroyal Tire) as a Ferris wheel attraction for the 1964/1965 New York World's Fair. The two sides looked like a tire but in between the sides there was the ferris wheel. Over two million fairgoers at the New York Worlds Fair rode the tire. Jacqueline Kennedy, Caroline, and John also took the ride at the World's fair.

When the New York World's Fair ended in 1965, U. S. Rubber decided to move the tire to it's present location in Allen Park, Michigan near it's sales office. The Ferris wheel was taken apart in 188 sections and transported by train to Detroit. Since then, the tire has become one of the nation's most recognizable roadside icons and featured in items ranging from maps and artwork to town Christmas ornaments.

I grew up less than a 1/4 mile from the tire. We used to spend hours in the woods there. (We called them Ford woods) There was a swampy woods area right near the tire that would freeze over. We would skate through the trees and play tag on ice skates in the winter. (Things kids do) Even then the tire had a fence around it to protect it from vandalism and graffiti.

In 1998, to demonstrate how their NailGard® self-sealing passenger tire worked, Uniroyal placed an 11-foot high, 500-pound nail into the tread of the Giant Uniroyal Tire.

In the fall of 2003 Michelin Uniroyal's parent company renovated the tire as part of a Interstate 94 renovation project. They spent about a $1,000,000 to renovate the tire. They added the company website, took down the neon lighting, added new structural beams, repainted the wheel, and added reflective lettering. Michelin, Uniroyal's parent company, donated the Big Nail to the city of Allen Park, Michigan.

The City of Allen Park put the Big Nail up for auction on eBay, and a short time later, Ralph Roberts of Ralph Roberts Realty placed the winning bid of $3,000, which ultimately helped the Allen Park Historical Society's programs and facilities.

The Uniroyal tire roadside attraction is located on I-94 just east of the Southfield Rd exit just minutes from Detroit's Metro Airport.

Dearborn International Arabic Festival

Sun, 28 Jun 2009 19:40:37 -0500

Dearborn International Arabic Festival was held last weekend. Me and my wife Marianne went down about 12:30 on Sunday afternoon when it was just opening on Sunday.

If you don't know it Dearborn MI has one of the largest Arabic Communities in the United States. We have people with Arabic ancestry from

Palestine
Jordan
Iran
Iraq
Yemen
Saudia Arabia
Lebenon

living in Dearborn and the surrounding Metro Detroit area. (forgive me if I forgot any other countries).

I am slowly learning more and more about Arabic customs, and Arabic food from my clients. I have sold homes to some great people who have invited me into their home and fed me some great food. I have found people of Arabic descent have been some of the friendliest and most giving clients I have had.

Here are some of the pictures we took of the festival.

Everybody was enjoying the rides and the food.

Great food. Marianne and I had two Fallefel sandwiches and then I had a Middle Eastern Sampler platter. I was stuffed and then had to go to a Fathers Day dinner. It was early and there weren't alot of people there but it got really crowded before we left.

They had a couple of tents full of Middle Eastern wares that included jewelry, books and food.

If you didn't know this the Arabic community eats Halal food which means kosher food. Food that meets Islamic standards of butchering etc. I don't know all of the standards yet but I'm learning.

The festival was supported by the local Businesses and of course ACCESS.

Of course on the way we stopped on the way home and got some dessert at Shatila Bakery. Again forgive me if I spelled it wrong. I took a picture of the outside of the building so I could spell it right but the picture did not come out. But I am glad the inside picture of one of the many cases of great food did. I have to guess there were about ten cases of food like the one below. MMMMM.........

Whether you are Arabic or not Dearborn's Arabic festival is a great place to enjoy good food, carnival rides, and immerse yourself in the Arabic culture.

If you have a Dearborn relocation in your future check out my websites for the latest Metro Detroit real estate information. Or give me a call on my cell (313) 310-9855.

If you missed it this year be sure to check out the International Arabic Festival next year. It is usually held around Fathers Day weekend.

Russ Ravary Your Metro Detroit real estate agent

If you are looking to buy a Dearborn home join my Dearborn VIP club and get the latest Dearborn foreclosures emailed to you and search Dearborn homes for sale free.

Livonia Spree 2009

Sun, 28 Jun 2009 18:49:19 -0500

Livonia MI

Livonia is a great community town and the city officials each year put on the Livonia Spreewith the help of local businesses. Todays the last day of the Livonia Spree with only the fireworks left. The Livonia Spreeis held between Eddie Edgar Ice Irena and the Livonia YMCA at Ford Field off Farmington Rd between I-96 and 5 Mile Rd.

The had food tents with coney islands, pizza, middle eastern food, hamburgers, hotdogs, elephant ears, cajun food.

Everybody had fun enjoying the rides and the entertainment. Livonia Spree is a family event with lots of police presence to make sure the fun didn't get out of hand.

I even got into the act.

They even had racing pigs, circus acts, and other entertainment for the kids. They had a beer tent for the adult refreshments. Local restaurants and churches had many of the food booths.

If you are thinking of moving to Livonia you won't be sorry. It's a great place to raise a family and live whether you are young, old, single, married, kids or no kids. I hope to see you at the Livonia spree next year or at the fireworks tonight.

For More Livonia real estate information go to either of my websites.

Russ Ravary your Metro Detroit real estate agent

Search Livonia foreclosures and get the latest real estate listings emailed to you

An open letter to criminal defense lawyers part 3

Sat, 27 Jun 2009 15:00:42 -0500

Dear Mr. Lawyer,

As you can tell by now is that I'm not that impressed with your skills in the real estate field. You cost our cleint money, you were unprepared and unknowledgeable in the field you were practicing in. I have dealt with lots of attorneys that were good and knew what they were doing.

You my friend scared the poor client. You made her nervous. Your job as an attorney is too protect her and make her feel comfortable. Not scare her.

Lastly I have to complain about your negotiating skills. Unfortunately you don't know anything about banks and foreclosures. They are in the drivers seat. You wait for them to sign and you have to sign their addendums as is. No crossing out their paragraphs.

Now let's go over our deal. Our client had the cash money, wanted the house. Yet you wanted to argue about the amount of deposit. What are you nuts? Why? The bank wanted 3% down when we were going to close in a week. We had an inspection clause to protect us in case the house had defects our client didn't like. Why argue about something that is not important. Our client had the cash available and was paying cash for the house.

Unfortunately you dragged your feet throughout this process. I listened to you and did what you said because you were the clients representative. Though I did tell the client I would strangle you if you were around one day. You had driven me over the edge with your antics.

I got this deal done even with all you did to stop the process or kill the deal. Stick to the criminal defense system other wise some lawyer may strangle you yet. Then they'll need a criminal defense lawyer. leave real estate to attorneys that practice it more often. It's not your forte... take my word for it.

Sincerely,

Russ Ravary your Metro Detroit real estate specialist

Search Metro Detroit foreclosuresand get the latest foreclosures emailed to you

Metro Detroit home buyer tips

As a Realtor

Sat, 27 Jun 2009 15:00:10 -0500

Our job is to protect our clients interests. As you can tell from my last posts we sometimes go thru some trials and tribulations. As a real estate professional I want you get a home that you want. If you don't know me you will realize that I'm not one of those pushy real estate people. I'll continue to take you out to look at houses so long as you are a serious buyer. I sit back and let people make their own decisions about a home. I don't walk thru a house and point out how great it is.

I know buying real estate is sometimes just emotional. Home buyers "know" when the walk into the house that "it is it". Many times it isn't about money, about the layout, or the square footage. It's the feeling of "being their home". It is a feeling that the home buyer gets when they find the home they want.

Sometimes those dreams or wants are crushed by other people around the home buyers. Sometimes those dreams need to be crushed because the home has defects or the buyers didn't realize the potential issues. Many times I have been glad for family members pointing out potential problems.

As a real estate agent I can point out lots of problems on any home. But that isn't my job to crush my buyers dreams. You see no home is perfect and home buyers have to make the decision on what defects or minor issues they are willing to accept.

It may be an odd layout, the house may be on a busy street, a room may be too small, the garage may not be big enough, or the house may need work. Every buyer has different priorities and as an agent I don't influence those decisions. If I am asked my opinion I give it. It there is a major defect or problem that I notice then I talk about it. I'm not a house inspector but I am fairly decent as spotting major block basement problems. I'm fairly decent about estimating costs or calling contractors to find out the costs for clients. I can point clients to the right resources to get their questions answered.

As a real estate agent I want to be able to visit my clients years from now. I want my clients to be happy in the home they buy. It's my job to help my clients get the best deal possible, get the home inspected, and to close the deal. We sometimes have to solve the issues that pop up from mortgage companies, and the negotiations.

I myself believe you don't have to sell houses. People sell themselves the house once they find the right one.

Russ Ravary your Metro Detroit real estate specialist

Search Metro Detroit foreclosuresand get the latest foreclosures emailed to you

Metro Detroit home buyer tips

An open letter to criminal defense lawyers part 2

Sat, 27 Jun 2009 13:25:12 -0500

Dear Mr. Lawyer,

I want to address you contract writing skills now. I know because you defend people in the criminal defense system you have spent hours and hours working on real estate deals. I am writing you to inform you that the standard contracts most real estate firms have been developed over years of experience in the real estate field. Many have been developed by real estate associations to make them simple, readable, and not full of legal mumbo jumbo.

Yes they may be just a blanket form but it works very well. We use addendums and the additional conditions area to add to the contract. We wouldn't use them if they didn't protect our clients. I know you want to re-write the contract your own personal way but I sent this contract over to you 3 weeks ago. Why did you wait until the day we are going to make the offer to decide to make the changes.

I may be just a dumb real estate person in your eyes but I didn't understand why you wanted to cross off the different paragraphs but yet you added nothing. By adding verbage youwould be protecting our client better.

I guess I didn't understand why you wanted to cross of the "as is" clause in the contract. After all that is one of the basics of real estate contracts. You are buying the house "as is" unless otherwise specified. No seller wants to be liable for potential lawsuits if there were no "as is" clauses.

Again if you are going to practice law do it over in the field you know. Leave real estate transactions to real estate attorneys or attorneys that do them at least once a month.

Russ Ravary your Metro Detroit real estate specialist

Search Metro Detroit foreclosures and get the latest foreclosures emailed to you

Metro Detroit home buyer tips

An open letter to criminal defense lawyers part 1

Sat, 27 Jun 2009 13:09:21 -0500

Dear Mr. Lawyer,

I know you are smart you did pass the law exam and I know you spent a lot of money on your degree but......you aren't an expert in the real estate field. I am writing this to you because of a recent experience with another criminal defense lawyer.

He wanted to protect his wife's friend from getting scammed. First he was worried about Warranty Title in Michigan. He had read somewhere that some title companies were going out of business. You see Warranty Title is one of the bigger title companies in Michigan. I think it is a subsidy of Trott & Trott attorneys which run one of the biggest property foreclosure legal business in Michigan. They do a much bigger business than my "smart attorney". They are a title machine. I bet they close over 50 properties a day just in their Detroit office. There waiting room is usually jammed full.

What my smart attorney didn'tt realize is that local title companies are just agencies of bigger title insurance companies. So even if the local company goes belly up the larger underwriting title insurance company makes good on the title policy and the defects. If the large title insurance company goes bankrupt then a lot of people would have issues. But...........

My client "smart attorney" had my client get another title policy from another title company that he knew of. So it cost my client more money just to "be safe" in the attorneys opinion.

So my first piece of advice to as a criminal defense lawyer is don't advise people or practice law in areas you are unsure of. Let a professional real estate attorney handle it.

Russ Ravary your Metro Detroit real estate specialist

Search Metro Detroit foreclosuresand get the latest foreclosures emailed to you

Metro Detroit home buyer tips

Madison Heights foreclosure update

Sat, 27 Jun 2009 12:42:24 -0500

Lately I have been showing a lot of foreclosure homes in Royal Oak, Clawson, Berkeley, and Madison Heights. Right now there are 23 Madison Heights foreclosures for sale. Today I was out looking with a client and we found a couple she likes. She wants to put an offer in so I thought I would look up the latest Madison Heights sold homes under $80,000.

If you notice 17 of the 14 Madison Heights sold homes sold for more than list price.

Madison Heights foreclosures

ADDRESS	LIST PRICE	SALE PRICE	DOM	SP PER SQFT	SQUARE FOOTAGE	YEAR BUILT
27379 DARTMOUTH ST	13900	15300	5	21.9827	696	1951
632 E BROCKTON AVE	19900	15500	153	22.1428	700	1951
519 E KALAMA AVE	22500	16000	17	25.641	624	1946
612 W DALLAS AVE	18500	17000	24	23.6111	720	1928
30134 NORTHEASTERN HWY	17500	17500	12	26.0416	672	1953
101 W BROCKTON AVE	19900	18000	71	15.3061	1176	1947
537 E HUDSON AVE	20000	18000	11	21.2765	846	1951
30418 PALMER ST	26900	20250	97	25.3125	800	1954
26051 BARRINGTON ST	22500	21000	7	30	700	1950
26695 LORENZ ST	20950	21111	7	17.6513	1196	1960
26114 TAWAS ST	21000	22000	285	20.7156	1062	1958
21229 CALEDONIA AVE	17500	23000	11	18.5933	1237	1924
559 E DALLAS AVE E	25000	26000	1	32.5	800	1951
28743 DELTON ST	36000	27000	160	23.4375	1152	1959
29312 HOWARD AVE	40000	28000	56	28	1000	1972
27123 ALGER ST	35000	29000	139	29.8969	970	1967
26504 BARRINGTON ST	29900	29900	33	21.6666	1380	1938
27084 NANTON ST	29900	29900	20	18.2539	1638	1950
47 E DALLAS AVE	33000	30000	17	29.97	1001	1962
317 ROYAL PARK LN	27000	30000	5	29.2397	1026	1956
1146 E DALLAS AVE	34900	32000	41	24.0601	1330	1952
850 E KALAMA AVE	38000	34000	259	31.1355	1092	1953
959 E HUDSON AVE	39700	35000	28	31.8181	1100	1953
30554 ALGER ST	49500	39100	53	33.476	1168	1950
1608 DULONG AVE	46900	40000	35	35.7142	1120	1957
821 EASTLAWN AVE	34900	40087	33	39.7688	1008	1954
26443 LORENZ ST	64899	48000	61	45.4545	1056	1974
26767 LENOX AVE	43900	48000	44	49.638	967	1951
28528 PARK CT	48900	48000	7	45.4545	1056	1957
28638 HALES ST	48000	49000	10	49.049	999	1957
26555 ALGER ST	49900	50180	51	31.3625	1600	1997
521 E FARNUM AVE	50000	57000	9	57	1000	1949
26659 NANTON ST	69900	57000	73	51.8181	1100	1958
29034 EDWARD AVE	54900	57100	21	61.0042	936	1957
30121 BRUSH ST	65000	60500	100	60.5	1000	1956
605 HECHT DR	66900	65500	9	65.5	1000	1958
1807 WINDEMERE AVE	70000	67900	182	53.4645	1270	1964
28329 DELTON ST	56650	68000	14	51.282	1326	1959
337 W ROWLAND AVE	78000	73000	150	64.7163	1128	1955
28326 PALMER	79900	80000	15	79.2864	1009	1954

I would bet that if you look at the ones that sold quickly you would find that they were in good to better shape and sold for more than list price.

If you are looking to buy a Madison Heights foreclosure or a Clawson foreclosure, or Royal Oak foreclosure give me a call. My cell is (313) 310-9855.

Russ Ravary your Metro Detroit real estate specialist

Search Metro Detroit foreclosures and get the latest foreclosures emailed to you

Metro Detroit home buyer tips

comp and listing information courtesy of Realcomp Ltd II. Homes shown above have been sold by various Realtors.

Farmington Hills foreclosure trend

Sat, 27 Jun 2009 06:53:03 -0500

Farmington Hills Real Estate Update

Here is a quick Farmington Hills sold homes update for one of my buyers to see what is going on recently. Here are all the colonial homes that have sold in the 2200 -2950 square foot range in the last 30 days. Look at the sold price versus the list price. There were five that sold for over list price and two more that sold very close. But on the other end there were some that sold for 10% less. The average days on the market for these homes were 91 days.

ADDRESS	LIST PRICE	SALE PRICE	DOM	SP PER SQFT	SQUARE FOOTAGE	YEAR BUILT
38500 LANCASTER DR	144900	153700	11	59.7125	2574	1985
30856 WOODSTREAM DR	161500	156900	35	62.0648	2528	1971
31165 APPLEWOOD LN	169900	175650	16	65.5165	2681	1976
38632 SOUTHFARM LN	195000	180000	165	64.7482	2780	1959
28423 BRANDYWINE RD	199900	187500	170	75.6048	2480	1959
25292 BRIDLEPATH LN	209900	190500	16	81.9002	2326	1987
25383 CAROLLTON DR	195000	195000	2	70.5244	2765	1983
29250 SUNRIDGE	229900	228900	97	87.333	2621	1998
37756 EMERALD FOREST	229900	229100	12	80.4989	2846	1989
30820 COUNTRY RIDGE CIR	230000	230000	85	83.5452	2753	1988
30223 KIMBERLY CT	249900	235000	141	95.723	2455	2008
38373 LANA CT	230000	238500	84	93.3829	2554	1984
25550 HUNT CLUB BLVD	259900	245000	36	105.4216	2324	1987
34559 BUTTON CT	275000	245000	41	105.5124	2322	1997
39206 SILVERTHORNE BEND	274900	250000	117	105.9322	2360	2007
38654 CEDARBROOK CT	274900	252500	63	100.1586	2521	1984
29022 CREEK BEND DR	275000	270000	20	96.1538	2808	1973
36840 ASPEN DR	309900	280000	59	102.414	2734	1993

Now here is by the area between Haggerty Rd to Farmington Rd from 12 to 14 Mile Rd Again Colonial homes but no square footage restrictions. You will note that there were some big colonials that sold cheap. They were probably Farmington Hills foreclosures that needed a lot of work.

ADDRESS	LIST PRICE	SALE PRICE	DOM	SP PER SQFT	SQUARE FOOTAGE	YEAR BUILT
38500 LANCASTER DR	144900	153700	11	59.7125	2574	1985
37458 WORCHESTER AVE	167900	163000	17	75.3931	2162	1985
35362 GLENGARY CIRCLE	170900	165000	120	51.6917	3192	1977
31165 APPLEWOOD LN	169900	175650	16	65.5165	2681	1976
29810 DEER RUN	192900	194000	45	62.0006	3129	1980
30498 KNIGHTON DR	219000	203000	38	102.5252	1980	1984
37756 EMERALD FOREST	229900	229100	12	80.4989	2846	1989
30820 COUNTRY RIDGE CIR	230000	230000	85	83.5452	2753	1988
34559 BUTTON CT	275000	245000	41	105.5124	2322	1997
38654 CEDARBROOK CT	274900	252500	63	100.1586	2521	1984
29022 CREEK BEND DR	275000	270000	20	96.1538	2808	1973
28005 LARSON LN	282000	316000	14	104.3593	3028	2002
29151 AUGUSTA	399000	325000	91	95.5882	3400	1993
28924 AUGUSTA	525000	445000	59	114.8387	3875	1992

This is just a general guide of Farmington Hills foreclosures sold trends. To really understand it you might have to look at the individual house listings that sold to see whether they were foreclosures and what was the shape of the home.

Usually Farmington homes that are in good shape sell for more money per square foot and quicker. A dumpy Farmington Hills foreclosure or poorly maintained home will sit on the market and will sell for much less.

Russ Ravary Metro Detroit real estate agent

Search Farmington Hills foreclosures and homes for sale and

Get the latest listings emailed right to you so you don't miss out on the deals!

Comp and listing info courtesy of Real Comp II. Homes shown above have been sold by various Realtors.

The tricky part of buying bank foreclosures

Sat, 27 Jun 2009 06:22:51 -0500

I am noticing more and more foreclosures that are in bad shape. With Metro Detroit banks getting tougher with the appraisals. Appraisers are noting all the damage whether it is:

roof that needs to be repaired
missing light fixtures,
drywall damage
peeling paint

That is putting more Metro Detroit foreclosure buyers in the position of fixing the home before they actually own it. They have to go and fix the roof, or put in the light fixtures before the deal has closed.

It is a catch 22. You don't own the property, but you have to put money into it. It is a dangerous situation for the buyer. But you have to do it. The appraiser has to come back and make sure it is fixed and the bank isn't going to do it. You either do it or walk away from the house.

Most Metro Detroit bank foreclosures are needing some work right now. So be prepared to do a few things if you want the mortgage to pass. Or better yet is to get a 203k loan on the house if possible.

Russ Ravary your Metro Detroit real estate specialist

Search Metro Detroit foreclosures and get the latest foreclosures emailed to you

Metro Detroit home buyer tips

How long does it take the lender to respond to a foreclosure offer?

Sat, 27 Jun 2009 06:01:02 -0500

In the metro Detroit area most of the banks take 2 to 3 days to respond to the offer on the foreclosure. If you are lucky they sometimes respond in one day. And if you are unlucky it could take much longer.

I just had one that Fannie Mae was the party in charge. It had taken over 2 weeks and we still had no answer. We finally pullled our offer because our first offer was low and there were better homes on the market we wanted to bid on. (My clients realized that they had bid too low for what the recent sold prices were.) But taking two weeks to make a decision is not the normal time period.

The second part of the process is how long does it take to get the documents signed after they accept the offer? It USUALLY takes about a week to get the documents back. My longest time was a month of waiting to get the signed documents back. That was unusual but it does happen.

Russ Ravary your Metro Detroit real estate agent

Search Metro Detroit foreclosures and get the latest foreclosures emailed right to you

Metro Detroit home buyer tips