Mike Sher's (mikerealtor) Blog

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Real Estate Agent - Max Broock Realtors

ARCHIVED BLOG POSTS

2008 

Here is a market summary comparing May of '07 to May of '08.  The bad news is that median sale price has dropped by an average of 14.3%.  On the other hand the numbers of sold units increased by 31.7% (more homes are selling). In fact the areas that have had the largest drop in value are the area...
06/20/2008
Dear fellow agents.  I have done 6 shortsales and so far my seller's have not countered any of offers. They just accept them contingent on bank approval. So far the bank has accepted 2, and counter 3 but by only 1-5% of the offer price.  We were able to close all of them, And these have been low ...
06/19/2008
 Recently, I was asked by an out of state relocation company to write a summary on the economic climate of the Southeastern Michigan Real Estate Market.  The Relo Company needed to legitimize the shortage on a property in inventory that received an offer of 60% less then what the seller purchased...
06/17/2008
 Here is another letter from a client that I did a Short Sale for.  The sale of the home was for about 50% of what was owed, so the bank got about 50 cents on the $1.    When I first met with the sellers, they were making an almost $3,000 payment on a home that was worth $112,000.  Crazy, huh.  W...
06/13/2008
Short Sale Success goes beyond the commission check.  We as realtors, have the chance to help real people with real problems.  Below is a letter that I just got from a client that I helped in a Short Sale.  Until she met me she had never even heard of a Short Sale.  Other Realtors were telling he...
06/13/2008
Here is a log for a short sale that I did with Option One.  Thought it might be helpful.   Mike Sher       COLLINSON SHORT SALE - PUBLIC NOTES     04/25/2008 08:43AM by Mike Sher  - got the hud back signed by Option one and all is done and closed.  I got less commission from the bank then what th...
06/12/2008
Dear Agents, I have completed my 5th short sale this year, and I still have to just feel my way through the trials and tribulations of the processes.  One thing that truly confuses me is how we have all of these "Short Sale Experts" who tell us what banks will or will not to do, like they were Mo...
06/12/2008
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