homes: February 2009 Southeast Michigan Market Report
- 03/19/09 04:24 PM
Hard to believe, but we're nearly done with the first quarter of 2009 and the Spring selling season is upon us. The good news is home sales in 2009 continue to outpace 2008 levels in Southeast Michigan. February sales in Wayne County were up 18.4%, Oakland 12.3%, Livingston 27.9% with an overall increase across the MLS of 16.5%. Another good piece of news is that the inventory of homes and condos is way down. Last Summer I had "Search over 70,000 homes..." on my website. Today when I checked the MLS, there were less than 50,000! Average days on the market … (2 comments)
In addition to the low interest rates and great deals out there right now, the big advantage to buying before the end of 2009 is the $8,000 tax credit enacted by Congress this year to stimulate the housing market. Unlike the 2008 credit, the 2009 tax credit does not have to be paid back. Here's a great video about the First-Time Home Buyer Tax Credit with answers to … (1 comments)
homes: MI Real Estate Answers: HUD Home or Fannie Mae
- 03/01/09 02:17 AM
Q. If you had a choice between buying a home owned by Fannie Mae or HUD, which one would you choose, all things being equal? A. What is most important is finding a home you're crazy about in an area you like that is mechanical sound. That said, however, the advantage of HUD is that they are offering a $2,500 owner occupant incentive which is applied toward your either your closing costs, tax prorations & repairs to the home. If all other things are equal, that's pretty nice incentive. When you couple that with the $8,000 tax credit given to first … (1 comments)
homes: 32564 Benson Ct | Westland MI 48185 Just Listed For Sale
- 02/08/09 02:41 PM
Great Location on Low Traffic Cul-De-Sac with Livonia Schools Bay Window & Spacious Cathedral Ceiling in Living Room & Bedroom * Newer Furnace, Central Air, Roof & Some Newer Windows * Great Breezeway Adjoining 2.5 Car Garage & Patio Overlooking Backyard Surounded by Privacy Fence * Closing & Commission Subject To 3rd Party Approval Property information ~ $125,000 1,710sf, 4 bedroom, 1.1 bath tri-level … (0 comments)
homes: Foreclosure Sales Hit the Skids in Wayne County Michigan
- 02/02/09 10:29 AM
Wayne County Sheriff Warren Evans has stopped all foreclosure sales because there is no way to know which homes are covered under TARP, the Troubled Asset Relief Program passed by Congress which supercedes Michigan foreclosure law. Last week Evans sent a letter to Michigan's Gov. Jennifer Granholm requesting she declare a state of emergency in Wayne County to address the growing home foreclosure crisis. Today Evans announced that to proceed with sales not knowing whether the homeowner has had an opportunity to modify their loan would put him in a position of violating federal law. Hard to say whether … (1 comments)
homes: Answers to "How Long Does That Last?"
- 02/01/09 04:59 AM
Did you know that dryers have a life expectancy of 10-25 years? Or that it costs $7,500-10,000 to convert a hot water boiler heater to a forced air furnace? The Pillar To Post website offers a great tool showing the estimated life of appliances and major systems and components in a home. They also estimate the cost of replacing them, as well as the cost of home repairs. Once you have the page open, click on the left-hand side to "Expand All" so you can view the details...Did you know metal roofs last 60 years? … (0 comments)
homes: 15976 Woodworth | Redford MI 48349 Just Listed For Lease
- 02/01/09 04:51 AM
Check Out This Nice Redford Home In Great Location With A Garage & Basement Close To Schools * Neutral Throughout and Well Cared For With Updated Bathroom, Newer Roof, Furnace, Carpeting & Ceiling Fans * No Smokers/No Pets * 1.5 Month Security Deposit With Credit Report & Application Property information ~ $750 Monthly 800sf, 2 bedroom, 1 Bath Ranch … (0 comments)
homes: January is National Radon Prevention Month
- 01/07/09 03:49 PM
The Environmental Protection Agency (EPA) designates January as "National Radon Prevention Month".Radon is an odorless, colorless gas that is naturally occurring in the earth's crust and sometimes seeps into homes through openings in foundations or walls. It is the leading cause of lung cancer among non-smokers, and the second leading cause among smokers. In August I wrote a blog post on the importance of testing for Radon because of a recent experience with a crazy high radon reading in a Northville MI home. According to a proclamation signed by Governor Granholm last year, one in eight homes in Michigan (EPA's … (1 comments)
homes: To Sell or To Lease...That is the Question
- 01/06/09 01:43 PM
The good thing about making a move in this real estate market is that there are lots of good deals out there. The question is, what do you do with your home? When faced with that situation, many Northville MI owners are opting to lease. Before you consider leasing, you should first check with your lender to get preapproved to make sure you can afford your next home. Also, check your existing mortgage because leasing may invalidate the terms. I've heard homeowners with good and bad leasing experiences. Many would simply prefer not to become landlords. If you do … (0 comments)
homes: Icy Danger Lurking Overhead
- 12/23/08 07:37 AM
With all the snow we've had so far this year, it's the perfect storm for ice dams to form on your roof. What are ice dams? Ice dams are formations that occur at the edge of a roof near the gutters or soffits when snow melts and refreezes. Icicles are often a telltale sign. Once formed, water backs up behind the ice dam pooling and infiltrating your home, which can cause significant damage. The best prevention is adequate ventilation and proper insulation of your home to prevent an overly warm attic. Additionally, the roof should have a vapor … (0 comments)
homes: November 2008 Market Report
- 12/22/08 05:44 AM
It's been a crazy month with tons of economic news, and lots of it not so good. With the Detroit 3 thrown a lifeline just in time for the holidays, let's hope that the rest of the economy stabilizes soon so people start buying cars again. The local real estate market had record sales again for the 11th straight month in 2008, with an increase of 20.5% over November 2007. Realcomp, our local MLS, reports that 2008 year-to-date sales increased 18.1% over 2007. Oakland County posted the highest percentage sales increase for November at 31.8%. There are a couple … (0 comments)
homes: 17438 Farmcrest Ln | Northville MI 48168 Just Listed For Sale
- 12/12/08 12:28 PM
A NORTHVILLE BEAUTY…Updated And Shows Like A Model! Hardwood Floors, Berber Carpeting, New Colors, Absolutely Perfect New Kitchen With All The Amenities * Door Wall Leads To Brand New Decking * Updated Baths & Large Library For Home Office * Professionally Finished Lower Level Adds 1000sf With Wet Bar * Newer Dimensional Roof, Recreational Area, And Sprinkler System Property information ~ $359,900 2,626sf, 4 bedroom, 2.1 bath Colonial … (1 comments)
homes: Taking The Leap & Leaving The Nest
- 12/04/08 07:57 AM
There has never been a better time to buy your first home than right now. Given the current economy, you probably think I'm crazy, but hear me out. First of all, interest rates are still really great and there are rumbles about them getting better. Second is the first time homebuyer tax credit passed this year. And third, the mortgage is likely to be cheaper than paying rent. Case in point, my daughter. After she graduated from college in May, we started running some numbers in preparation for her leaving the nest. She was looking at between $600-750 per month for … (0 comments)
homes: October Market Report
- 11/24/08 10:55 PM
For the 10th straight month in a row, sales were up over 2007 for total of 27.7% in the MLS area. With lots of competition from bank & government-owned homes and short sales, owners are continuing to hold their homes off the market until it stabilizes so the number of homes on the market has continued to decline. Homes priced competitively are selling and the number of starter homes (those priced under $125K) sold this year has surpassed 2007. In fact, 53% of all homes sales were below $100K! Activity has definitely slowed with all the market chaos so … (0 comments)
homes: 6781 Emily Ct | Westland MI 48185 Just Listed For Sale
- 11/05/08 10:32 AM
Absolutely Perfect And Everything Is New! New Roof, Windows, All New Kitchen With Cherry Cabinets, Recessed Lighting, Stone Ceramic Floor And Back Splash Plus All New Appliances * Kitchen Opens Into Family Room But Can Be A Great Gathering Kitchen * All New Baths & More * Located On A Small Cul-De-Sac Dead End Street * Stop Looking and See This Home Today! Property information ~ $123,900 1,073 sqft, 3 Bedroom, 1.1 bath Ranch … (2 comments)
homes: 37168 Vincent St | Westland MI 48186 Just Listed For Sale
- 10/02/08 05:08 PM
This Home Shouts "Pride of Ownership" With Lovely Updated Oak Eat-In Kitchen With Tons of Cabinets With Large Pantry, Corner Carousel and Pull-outs, Updated Roof, Furnace, Air Conditioner, Baths and Vinyl Windows and Siding * Large Family Room With Fireplace, Newer 2 Car Garage With Opener Plus Nice Fully Fenced Backyard With Deck * Check It Out Today...You Won't Be Disappointed! Property information ~ $139,900 1,479sf, 3 bedroom, 2 bath Tri-Level … (1 comments)
homes: 30553 Grandon | Livonia, MI 48150 Just Listed For Sale
- 09/13/08 04:52 PM
ABSOLUTELY MINT MOVE IN HOME! From The Perfect Lush Landscaping Outside To The Meticulous Interior And Updated Amenities Inside This Home Is A "10" * 2 Fireplaces, 2 Full Baths, Hardwood Floors, A 4 Season Sun Room, Finished Lower Level With Bar and New Berber Carpeting Plus A Newer Kitchen To Die For…This Home Has It All! A Must See! Property information ~ $192,900 1,211sf, 3 bedroom, 2 bath Ranch … (3 comments)
homes: 425 Harbor Street | Canton MI 48188 Just Listed For Sale
- 09/06/08 02:48 AM
ABSOLUTELY THE PERFECT AND LARGEST LOT IN THE SUB Boasts An In-Ground Swimming Pool & Patio Area To Die For! Home Shows Beautifully With Hardwood Floors, Second Floor Laundry Room, Formal Living & Dining Rooms, Family Room With Fireplace, 3 Car Garage And More * Tennis Courts & Club House In Sub * A Great Family Neighborhood And Plymouth/Canton Schools * CHECK IT OUT! Property information ~ $369,900 2,624sf, 4 bedroom, 2.1 bath Colonial … (1 comments)
Lease Furnished Or Unfurnished, Totally Rebuilt In 2005 With A Granite Cherry Kitchen And 4-Season Sunroom * Library Is Currently Used As Formal Dining Room * This Home Is A Beauty And The Newly Landscaped Yard Will Knock Your Socks Off * Minimum 1 Year Lease With 1.5 Months Security Deposit and Credit Report.
homes: First Time Homebuyer Alert, Part 1
- 08/17/08 03:57 PM
If you've been on the fence about whether or not to buy your first home, NOW is definitely the time--before October 1st! The Mortgage Relief program recently passed by Congress goes into effect on that date and eliminates downpayment assistance programs. In fact, many mortgage lenders have already eliminated the option in anticipation for the October 1 deadline. After that date, the only assistance buyers will be able to get is through their family or friends in the form of gift funds.
Another perfect first time buyer option ends September 30th. Any HUD home purchased by an owner occupant buyer … (4 comments)
Hard to believe, but we're nearly done with the first quarter of 2009 and the Spring selling season is upon us.
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