The summer of 2007 may well be remembered as the "Season of the Negative Headlines" for many of us in the real estate industry in Michigan. Daily we have been bombarded with the words "mortgage meltdown" and "record foreclosures".
It saddens me to realize that the media isn't touting as loud and clearly what a wonderful buyers market Michigan is in, especially Macomb County!
As we head into the fall of 2007 in Michigan I am excited for my first time home buyers and "moving up" home buyers. There is a plentiful supply of available homes across our state and Macomb County is even more enriched. Buyers now have the luxury of home hunting without having to make a hurried decision.
(Remember the days of multiple offers the first day of a home being listed on the multilist?)
Home buyers in Michigan and Macomb County do have a various array of mortgage products available to them. Yes the sub-prime mortgage is no more. That does not mean that you cannot purchase a home. Simply because one segment of the mortgage market is undergoing drastic changes does not mean that tried and true mortgage products are not available. FHA/VA mortgages are still with us and have always been a good choice for a mortgage. Our local banks and credit unions in Macomb County are doing an outstanding job of mortgage lending to first time home buyers and repeat buyers alike. Mortgage brokers here in Michigan are updated daily on the products available and are happy to work with you to find a program to suit your needs. If you would like some detailed information about any of these mortgage programs, please don't hesitate to contact me.
For those who have been scared away from purchasing a home because of all the negativity, please know that Realtors (tm) across this state are not giving up nor are we giving in to the negativity. We are a hard working group of individuals who know our market, educate ourselves about the mortgage industry and able to help you achieve your dream of home ownership.