macomb county mi real estate: An explanation about the first time home buyers tax credit - helpful for Macomb County MI home buyers
- 02/19/09 11:11 PM
We finally have a breakdown on the new revised 1st time home buyers tax credit. A couple of key points: The tax credit is extended to purchases made before December 1st of 2009.It is still a tax credit of 10% of the purchase price of a home, up to $8000. (If you purchase a $100,000 home the limit on the credit you'll recieve is $8000.)Also, the home must be used as your primary residence. (No tax credit for investorpurchases.)I have a chart on my website in PDF version that is available for downloading for thoseof you who would like a closer … (8 comments)
macomb county mi real estate: Proof that home buyers in Macomb County MI want to purchase non-bank owned homes
- 01/12/09 09:30 PM
All of the talk in recent months (and media reports) have targeted the bank owned homes. Because of the media attention given to the rise in foreclosure sales in our area, many private home owners have felt defeated before they have even started to sell their homes.I believe in being realistic with my home sellers. They deserve to hear the truth and see the statistics in order to make a timely educated decision about our real estate market. However, they also need to see the good along with the not-so-good news.While taking a look at our December home sales in Macomb … (19 comments)
When ever anyone mentions the economy and the real estate market it almost always is mentioned that the start of the problems were the so called liar mortgages. I always just shook my head and said (or thought) that this wasn't the beginning of the downfall for real estate - it was overproduction in my opinion. In 2000 and 2001 everywhere I drove or walked I saw a new subdivision going up - whether it was single family homes or condos. Almost every farm was snatched up by developers to be turned into another "You have to buy … (25 comments)
macomb county mi real estate: Under $120,000 in Chesterfield Township MI? You bet!
- 11/15/08 09:19 PM
On Friday I received a phone call from someone who is interested in purchasing a home in Chesterfield Township MI. The gentleman was concerned that there wouldn't be enough 3 bedroom homes under $120,000 to choose from. He was also concerned that all he would find would be bank owned homes in need of many expensive repairs. I knew of 7 homes off the top of my head that fit his needs and wants and emailed him the listing information on all of those homes, and several more.As of this morning there are 12 homes for sale in Chesterfield Township MI … (0 comments)
macomb county mi real estate: Another sign of the times - "You have the right to receive counseling"
- 11/07/08 08:22 AM
Sitting at the closing table today at Greater Macomb Title in Sterling Heights my buyer clients were signing all the necessary mortgage documents when I heard the closer explain the next form in the package: "You have the right to receive counseling." I kid you not. Now, business has been a tad bit slow recently, but it hasn't been that long since my last closing. This form was new to me. We all stared at it a while then read it more thoroughly. Sure enough, the buyers are lucky enough to receive counseling should they find themselves in the position of … (12 comments)
macomb county mi real estate: Mr. and Mrs. Seller: Are you considering home buyer incentives?
- 09/28/08 09:47 PM
The following article is written with my local Macomb County Michigan real estate market area in mind. Your local real estate market may vary in its practice and pricing. Mr. and Mrs. Home Seller: You've decided to put your home on the market for sale, and have interviewed several real estate agents to represent you. You have spent time going over the local real estate market conditions and by now are fully informed as to how your home compares to others that are not only on the market, but have recently sold. (By recently I refer to the last 90 days)You … (16 comments)
macomb county mi real estate: Michigans fun localisms - what about your state?
- 09/22/08 11:00 PM
I've recently had the pleasure of working with several out of state home buyers who are relocating to Michigan. Some of the most fun that I've had is hearing them talk about what is different in Michigan compared to their home states. One question that was asked of me: "Why do people hold up their hand and point to where they are, or where they are going?"My answer: Because we can. (How many other states can do this on their hands???) Another question: "Who came up with the Michigan left hand turn?"My answer: I have no idea. But I bet he … (16 comments)
Yesterday while taking care of some personal business a very nice lady asked me what I did for a living. I told her that I was a real estate agent. Not an unusual question. Her response to me was unusual: "I'm so sorry" Wow. I've heard "It must be rough out there" or "Hope things get better soon!" and "How's the market here?" but I've never heard such a sincere "I'm so sorry". At first I was dumbfounded because she was so sincere. She actually felt sorry for me. I smiled, and noticed a pad of note … (86 comments)
macomb county mi real estate: Low Ball Offers are really Show Me The Green offers!
- 09/14/08 11:47 PM
If you've spent any time within the last year reading about our local (Macomb County MI) real estate market then you've come across the phrase Low Ball Offers more than once. Many people have written about what constitutes a Low Ball Offer on a home to purchase, and there are as many varied opinions as there are people. My definition: Low Ball Offers should be highlighted in green.Green = Money. To the home owners who have been offended by lower than expected offers I say this: Be happy you received an offer. Be very happy. Take off your "this is offensive" … (14 comments)
macomb county mi real estate: Macomb County MI real estate - Your agent can narrow down your search for foreclosures only.
- 08/20/08 10:36 PM
To my knowledge, there isn't a way for buyers searching the internet (Realtor.com, Homegain, the local MLS feed) to enter search criteria for bank owned homes (foreclosures) only.In Macomb County MI there are 2 Multilist data sources: Mirealsource™ and Realcomp™. Some real estate agents belong to one. I pay dues and belong to both.If you are looking for foreclosure homes only (bank owned homes) in Macomb County and want to weed out the private sales, short sales and homes for renting you will have to ask the buyers agent you chose to sort through the list for you. This list can … (8 comments)
macomb county mi real estate: Chesterfield Township MI homes sold in July 2008
- 08/04/08 08:30 AM
It was a bit of a slower month in Macomb Countys Chesterfield Township for home sales, but all in all I am still feeling good about the local real estate market and the wonderful bargains to be had for home buyers. From glancing at the prices of the homes that sold in July (2008) it appears that many first time home buyers took advantage of the low interest rates, good FHA and VA mortgage progams, and a plentiful supply of homes in Chesterfield Township. During the past month 28 residential homes sold. The lowest price home sold at $70,000 and … (4 comments)
macomb county mi real estate: Macomb County MI first time home buyers - I won't be asking if you are pre-approved for a mortgage anymore...
- 07/27/08 10:57 PM
...I'll be asking you if you have 3 1/2% of an estimated purchase price in your bank account.The down payment gift assistance programs that have been so helpful to Macomb County MI first time home buyers over the years are probably going to be taken away from these purchasers by our "we know what's best for the public" government. (The new housing bill, with this little tid-bit included, has been passed by our representatives and is now heading to President Bushs desk for a signature.)Goodbye Nehemiah - it's been fun working with you. Ameridream? Ditto. To the employees of those … (11 comments)
macomb county mi real estate: Chesterfield Township MI - Muirfield Manor Subdivision
- 07/13/08 11:24 PM
Chesterfield Township Michigans Muirfield Manor Subdivision is one of the completed subdivisions in our area that has a nice mixture of homes: Ranch style, Split-Level and Colonials. This location in Macomb County is within the Lanse Creuse school district and also offers to a prospective home buyer a range of prices and sizes in the homes:Since April 1st of this year 2 homes have sold within Muirfield Manor. One of them was an approximately 1600 square foot ranch that sold for $179,000. The other was a bank owned foreclosure. It was a split level design of approximately 2250 square feet on … (6 comments)
macomb county mi real estate: Practicing law without a license
- 06/30/08 06:56 AM
The phone call usually starts out like this:"I was given your name by Mrs. Brown. She said you helped her with her home purchase. I have a problem and I'm hoping you can help me..." It sounds innocent enough doesn't it? After all, I'm a licensed real estate agent in the state of Michigan, and that's what I'm here for isn't it? "I have an offer in on a home that's for sale by owner, and I'm not sure what to do now as far as xxxx..." Fill in the blank of xxxx and this is where it gets tricky for … (17 comments)
macomb county mi real estate: Let's be careful about what we write - and read.
- 06/23/08 10:21 PM
We wouldn't write about interest rates dropping when they weren't. We also wouldn't write about a home being offered for $50,000 when the real asking price is $100,000. Why in the world am I seeing articles misreporting facts about something so important as HUD guidelines?
Last week it was announced by several news organizations that HUD has waived its 90 day "anti-flipping" rule. (This rule was put into place in 2003 to guard against predatory house flipping and worked well in my opinion.) What wasn't readily reported were the details of this new waiver.Because we sometimes see only the exciting … (10 comments)
macomb county mi real estate: A fabulous new trend: Home buyers saying "NO"
- 06/19/08 10:29 PM
“No, I don’t want that payment” - Home buyers in Michigan are smarter this year. Much smarter, and I'm thrilled to witness it. I represent many home buyers in my real estate business. I enjoy them, and I am happy as can be finding and showing homes to potential buyers. The interaction between a buyer client and a buyers agent is fun, hectic at times and precious to me. Most days you can find me driving all around Macomb County and the Metro Detroit area viewing homes, taking photos and meeting with buyer clients. This year I’ve noticed a trend … (16 comments)
macomb county mi real estate: This is why I continue on - Looking back on a week of touching experiences.
- 06/15/08 10:45 PM
To say this past week was hectic and fulfilling would be an understatement. It's also been a week of highlights that have touched me and made me stop and think again "I can't imagine doing anything else."On Wednesday a wonderful young lady purchased her first home, a condo in an area that she had been familiar with her whole life. After many ups and downs through the purchase (appraisal issues, etc) we both found ourselves in Birmingham at the closing table with a sigh of relief. The joy on Stephanies face made me pause and take it all in. After 11 … (21 comments)
macomb county mi real estate: Sellers remorse is unfortunately alive and well in Michigan
- 06/09/08 10:34 PM
Sellers remorse. It happens. Lately, I have heard of it happening more often in Macomb County MI. Recently buyer clients of mine put an offer in on a home in our area. The home had been on the market for well over 6 months, and saw various price changes. What the home sellers did, in my opinion, was to “chase the market downward.” (That is another post entirely!) Instead of pricing their home to sell in this market they kept lowering it slowly, but never lowered it far enough to keep up with the declining market values. Yes the home was … (10 comments)
macomb county mi real estate: What's been happening with Chesterfield Township MI real estate?
- 06/09/08 12:47 AM
It certainly has been a busy spring in our fine area of Macomb County MI. During the month of May twenty two homes sold, and 5 homes were rented.Sales prices ranged from $95,750 for a home on Forbes that sold, to $207,900 for the home on Leopard that recently found new owners. What I found most striking is that the list - sell price ratio was 98%. Home sellers in Chesterfield Township MI are pricing their homes to sell and the buyers are realizing this trend. Many of the homes that sold were to buyers utilizing FHA mortgages with the home … (5 comments)
I'm
a firm believer that the best real estate relationship is a
partnership. We work together to achieve your goals - whether
it be in purchasing your first home or selling your present
home to purchase another or to relocate.
Please
feel free to email
me at any time. I would enjoy chatting
with you and getting to know you.
We finally have a breakdown on the new revised 1st time home buyers tax credit.
;)
;)
