home buying: An Open Letter to the Media: A 6% Commission Isn’t “Standard,” But Here Are 6 Things That ARE Standard for Agents
- 03/22/24 05:00 PM
Many folks in the media have recently been writing sensational headlines declaring an end to buyers’ agents and the “standard 6% commission.” The minute you say that, everything else you write has to be questioned, because it’s inaccurate and misleading to the public. Let’s get into it…
For starters, the vast majority of real estate agents probably think twice about using the word “standard” to describe anything in life, let alone real estate commissions, just to be on the safe side. Agents aren’t allowed to even say words that suggest there’s a standard commission, let alone conspire with each other and agree … (9 comments)
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home buying: Answers to Common Questions About Homeowner Associations
- 10/12/23 02:48 PM
As a homeowner in an Home Owner Associations community, it’s important to understand the policies, rules, and regulations that govern your neighborhood. Being familiar with these guidelines can help you avoid conflicts with the HOA and ensure that you are contributing to a thriving community.
In this section, I will answer some common questions about homeowner associations and provide insights into their policies and responsibilities.
Key Takeaways: Homeowner associations have policies and regulations that residents must obey. Understanding these guidelines can help you avoid conflicts with the HOA. Adhering to HOA policies can contribute to a thriving community. There are benefits to living … (3 comments)
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home buying: Remote Work Home Buying: The Untapped Solution to Affordable Living
- 09/06/23 01:41 PM
The Power of Remote Work Home BuyingAre you frustrated with the ever-increasing home prices? You're not alone. But here's the good news: Remote Work Home Buying could be the solution you've been looking for. This guide will show you how to leverage the advantages of working remotely in your home buying journey in Oakland County Michigan and beyond,
Why Remote Work Home Buying is a Game-ChangerWhile working from home has been a growing trend, especially accelerated by the pandemic, Remote Work Home Buying is a lesser-known strategy that can give you a significant advantage in the housing market.
Traditional Limitations Lifted:In the … (3 comments)
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home buying: Farmington Hills Housing Trends: Unraveling Michigan’s Real Estate Dynamics
- 08/25/23 08:47 AM
Real estate is a fascinating reflection of diverse factors like economic trends, interest rate dynamics, and broader consumer sentiment. Lately, there’s a growing discourse surrounding Michigan’s potential tapering in home sales. In this exploration, we shine a spotlight on the intricacies of Farmington Hills housing trends.
The Michigan Real Estate Scenario: A SnapshotTraditionally, Michigan’s real estate pulse has been notably vibrant, animated by an unrelenting demand pushing property values higher. However, recent findings from the Michigan Realtors Association hint at a possible ebb in this fervor.
Skyrocketing home prices might be a factor at play here. When prices surge, a larger segment of potential buyers, particularly … (1 comments)
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home buying: 5 Reasons Why People Don’t Trust Real Estate Agents, and How You Can Avoid Trust Issues with Yours
- 07/21/23 05:45 AM
Considering a real estate agent is the person you’re hiring to help you with what’s probably the largest purchase you’ll make, or asset you’ll sell, you should be concerned about whether or not you trust your agent.
But if you don’t trust real estate agents, you’re not alone. According to this Study Finds article, only 20% of people surveyed had a high level of trust in real estate agents.
To be fair, there are surely dishonest agents out there who have contributed to the distrust, but there are professionals in every industry who can’t be trusted. However, there are a lot more agents in the field who are … (8 comments)
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home buying: Home Buyers Should Still Care about Having a Higher Credit Score
- 06/07/23 05:10 AM
Whether you’ve been planning on buying a house in the near future or not, you’ve probably heard that people with higher credit scores are now paying higher fees, and people with lower credit scores are paying lower fees when getting a mortgage.
Hearing that might make you feel one of two ways if you’re planning on buying a house:
Yippee! I’m finally getting a fair chance. It’s not fair that people who don’t need lower rates and fees always get the better end of the stick, and now I have a chance at buying a home. Not fair! I’ve worked hard to improve and maintain a great credit … (3 comments)
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home buying: Why Home Buyers Should Still Care about Having a Higher Credit Score, Despite Fees Dropping for Buyers with Lower Credit Scores
- 05/04/23 05:05 AM
Whether you’ve been planning on buying a house in the near future or not, you’ve probably heard that people with higher credit scores are now paying higher fees, and people with lower credit scores are paying lower fees when getting a mortgage.
Hearing that might make you feel one of two ways if you’re planning on buying a house:
Yippee! I’m finally getting a fair chance. It’s not fair that people who don’t need lower rates and fees always get the better end of the stick, and now I have a chance at buying a home. Not fair! I’ve worked hard to improve and maintain a … (4 comments)
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home buying: 7 Things You Should Know about Home Inspections When Buying a House
- 04/25/23 12:18 PM
Unless you’re a real estate agent, you’ll probably only attend a home inspection a handful of times in your life, so you might be taken by surprise by a few things! While your inspector and agent will most likely explain any of these things to you, knowing about them in advance can help you avoid some panic or potential embarrassment.
Check out these 7 terms and insights that’ll have you looking and feeling like an old pro the next time you’re having a house inspected:
1. Follow the inspector… but not too closely!
Some home inspectors are glad to have you follow them around the house … (4 comments)
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home buying: “The Customer Is Always Right…” (Except When Doing These 6 Things When Buying or Selling a House)
- 03/30/23 01:12 PM
One of the first rules of sales is that the customer is always right. Even if the store, company, or salesperson did nothing wrong, it’s just good business to give the customer whatever it is they want or need.
So, of course it happens in real estate. An agent is sometimes better off letting their client do something they wouldn’t recommend, rather than trying to prove their client is wrong in order to maintain a good relationship. But it’d be a whole lot better if you didn’t do certain things when you’re buying or selling real estate, because they can actually hurt you and … (0 comments)
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home buying: The Government Just Made Buying Your First Home More Affordable (And a Few Tips to Make It Even More So)
- 02/28/23 01:19 PM
No matter how much buying a house makes sense for your long-term financial well-being, buying your first house can often just seem expensive and totally out of reach. That leads to many younger people putting off buying a home until later in life than they might have, if the costs were lower.
But there are plenty of younger people buying homes. Nearly 40% of people under 35 own a home, so it’s by no means impossible or entirely unaffordable.
Homeownership Stats by AgeInfogram As you can see in the graph above, the homeownership rate goes up to just over 60% for those between the ages … (1 comments)
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home buying: New Home Buyers Bounce Back In October
- 11/28/22 07:19 AM
Home buyers in Oakland County, Michigan have had a time trying to purchase a new home earlier in the year with all the competition, then the mortgage rate increases made things even harder for home buyers, Mortgage rates were at their recent peak in October, despite elevated rates, new home buyers were active, pushing sales of newly built single-family homes higher than the month before. This improvement was well over expectations as economists polled by Reuters predicted a month-over-month decline in October.
Buying a Home and PredictionsDespite the prediction of a month-over-month decline home buyers have been active in purchasing new homes n fact, according to … (1 comments)
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home buying: The Ultimate Checklist for When You Are Finally Ready To Buy a Home
- 11/22/22 07:26 AM
Are you ready to buy a home? Becoming a homeowner is not that easy! There are a lot of factors you need to think about before moving further in the process in buying a home.
This Q & A session will help you find out whether you are ready to face the challenges in the home-buying process or not.
Let’s begin:
Q1. You finally found the dream of your house. Are you ready to place an offer?Yes – It’s the reason why I’m reading this blog.
No – Was looking for something to read and found this blog’s title interesting. (This indicates that you are … (2 comments)
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home buying: Want a Better Deal on a House? You Might Want to Buy in the Next Month or Two
- 11/10/22 05:48 AM
With mortgage rates having gone up, and home prices not seeming to come down much, some buyers are choosing to wait it out and see how much prices come down.
But there’s not a lot of consensus on whether or not prices will come down, or how much they will if they do. According to this Market Watch article, some predictions are that they’ll be coming down quite a bit in the near future, while others say that they’ll remain stable, if not go even higher. So, waiting may or may not pay off.
Besides, not everyone can wait it out. People buy and sell houses when they need to; … (6 comments)
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home buying: If It’s Such a Bad Time to Buy Real Estate, Why Are the Wealthy Doing It?
- 10/13/22 10:44 AM
According to this Housing Wire article, 75% of people recently polled by Fannie Mae felt pessimistic about the real estate market, and that it’s not a good time to buy a house. So, if you’re among the many who feel that way, and you’re thinking about holding off for prices to come down, you’re not alone.
Considering that interest rates are up and prices haven’t dropped as much as buyers would like, it isn’t surprising to hear that news. Some marginally qualified potential homebuyers have legitimately been priced out of the market. But many others are simply being cautious, not wanting to make … (0 comments)
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home buying: Some Reasons To Be Glad You Missed Out On The Low Mortgage Rates
- 10/07/22 10:03 AM
Some people feel like they missed the opportunity of a lifetime to buy a house when rates were really low over the past couple of years. And with mortgage rates now in the 6-7% range, many buyers feel punished for waiting and regret not buying sooner.
Well, if you’ve been feeling that way, it may make you feel better to know that many people who did buy when rates were lower probably wish they could switch places with you.
According to this Yahoo article, three-quarters of the people who bought between 2021-2022 have regrets, such as:
They didn’t have many houses to choose from Prices were … (2 comments)
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home buying: Today’s Market Is Getting More Buyer-Friendly—Here’s How
- 10/07/22 09:45 AM
Between low inventory, fierce competition, and all-time high home prices, there’s no denying that the past few years have been tough on buyers.
But things are changing—and in many ways, the real estate market is starting to shift towards buyers.
So what, exactly, are those shifts? A recent video from realtor.com outlined some of the more positive realities of buying a home in today’s real estate market, including:
Many markets are cooling down. Just about every market across the US has been red-hot for the past few years. But in many markets, things are starting to cool off—and that cooling off presents a serious opportunity for … (1 comments)
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home buying: The Reasons Real Estate Deals Fall Through in the Current Market
- 10/05/22 07:35 AM
Closing a real estate deal takes a lot of time, energy, and resources—and after investing that time, energy, and resources, the last thing you want is for the deal to fall through.
So why, exactly, do real estate deals fall through—and how can you make sure your deal ultimately closes?
A recent article from realtor.com outlined some of the most common reasons real estate deals fall through in today’s market—and, more importantly, how to avoid them—including:
Rising interest rates. Smart buyers know to get pre-approved for a mortgage before they start looking for homes; that way, they know how much house they can afford. But interest … (3 comments)
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home buying: Buyers Can Finally Buy a House for Less than List Price (But Savvy Buyers Know When to Still Offer over Asking…)
- 09/22/22 11:22 AM
If you’re hoping to buy a home, you’ll be happy to hear that the average sale-to-list price has recently dropped below 100% for the first time since March 2021, according to this Money article. In other words, houses aren’t all selling for over asking price anymore, and you can negotiate a lower price than the owner is asking.
That’s welcome news, and a silver lining to buyers who waited (or weren’t able) to buy a house in the recent market frenzy. While mortgage rates are higher, at least now you’re more able to successfully compete for a house, and even negotiate the price.
But … (1 comments)
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home buying: Thinking About Buying a Home? Keep an Eye Out for These Red Flags the Property May Be Overpriced
- 09/14/22 03:14 AM
Over the past few years, the US has been in an unprecedented sellers’ market. Fierce competition and bidding wars caused prices to skyrocket, with the national median price for a home currently sitting at $449,000.
But with recent economic changes and rising mortgage rates, it looks like this unprecedented seller’s market is (finally!) cooling off.
That being said, many sellers are still pricing their homes as if we were still in the peak of the sellers’ market. So, as a buyer, the question is—how can you tell if a home you’re considering is currently overpriced?
A recent article from realtor.com outlined key signs a home may be … (7 comments)
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home buying: Why You Should Capitalize on the “Negativity” About Mortgage Rates as a Buyer Right Now
- 08/10/22 09:07 AM
Even though mortgage rates dipped below 5% this past week, they’re still higher than they were just a few short months ago. This has priced some home buyers out of the market, and caused others to take a wait-and-see approach, hoping for rates to drop back down to historically low levels.
It’s understandable why current buyers would want to hope and wait, but it’s impossible to say if rates will ever go back down to the 2% or 3% range, let alone soon. But if they do, it’s not likely to happen in the next few weeks or months, so the decision … (3 comments)
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Many folks in the media have recently been writing sensational headlines declaring an end to buyers’ agents and the “standard 6% commission.” The minute you say that, everything else you write has to be questioned, because it’s inaccurate and misleading to the public. Let’s get into it…
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