According to NAR's recent Real Estate Insights, financing the purchase of a home can be a significant challenge for some buyers. The recent turmoil in financial markets has definitely had an impact on the availability of mortgage credit for those consumers wanting to purchase a home in the greater Lansing real estate market. The 2008 year end 4th quarter real estate housing report provided by Coldwell Banker Hubbell Briarwood indicated a 10.9 month's supply of residential homes vs. 13.9 month's last year at this time. That is good news.   

 President Barack Obama had harsh words Friday for companies that have engaged in lavish, frivolous spending while receiving taxpayer dollars from the $700 billion federal bailout package. It appears some companies are remodeling, buying competition and doing everything with the handout except lending money to consumers and businesses. We can't say we weren't warned about the loopholes connected.  NAR has proposedthat monies get freed up to allow all buyers a tax credit on buying a home vs. just first time home-buyers. This would have a big impact on jolting the housing market. 

 2009 should see an increase in activity in Delta Township, Lansing, MI and the other bedroom communities around the greater Lansing area, with new legislation, lower interest rates, hot prices on home values, and many houses to choose from. Good credit scores, down payment money, and income stability are three areas buyers need to focus on.  Buyers who have been pre-approved for a home loan often have their offers taken more seriously by sellers. For additional home-buying and selling tips, free reports and an opportunity to search listings in and around the greater Lansing area, visit MikeBowler.com. 

"Expect the Best" Mike

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
Search Listings