oakland county: West Bloomfield MI Short Sale, Escape Your Unmanageable Mortgage: Getting free doesn’t have to mean running away. Mike Sher, Certified Distressed Property Expert, Max Broock, (248) 496-1472 - 05/03/12 04:33 AM

West Bloomfield MI Short Sale, Escape Your Unmanageable Mortgage: Getting free doesn’t have to mean running away. Mike Sher, Cetrfied Distressed Property Expert, Max Broock, (248) 496-1472
Perhaps you have heard about it.
On the news, a reporter tells a story about how the housing crisis has caused some homeowners to simply walk away from their homes. It sounds crazy, but many people are being led to believe that walking away from their home is a good (or even the best!) option.
It is called Strategic Default. For distressed homeowners who believe that they have no good choices left, the … (0 comments)

oakland county: Oakland, Macomb and Wayne Counties Michigan Homes Values Report, What's your Home Worth Report. Mike Sher, Max Broock Realtors - 04/26/12 10:47 PM
Home Values:What's Selling in my Neighborhood?  Compare Zip Codes:Community Data Report                  
Know The Market: Report of SALE & SOLD homes       Learn About Short Sales: www.ShortSaleOaklandCounty.com   Feel free to contact me:Mike Sher     The Mike Realtor Team Home Values:What's Selling in my Neighborhood?  Compare Zip Codes:Community Data Report                   Know The Market: Report of SALE & SOLD homes       Learn About Short Sales: www.ShortSaleOaklandCounty.com Associate Broker,  Max Broock/Real Estate One                                                                                                                     Office: (248) 644-4700x242   Fax :(248) 499-10204120 Telegraph Rd, Bloomfield Hills, MI 48302E-mail: mike@mikerealtor.com               Blog/Profile: www.MikeRealtorBlog.com Web: www.mikerealtor.com           Find me on Facebook - Become a fan   ***Please be advised that Mike … (0 comments)

oakland county: Is your Bloomfield/Birmingham Agent, A Bank Of America Short Sale Realtor, by: Mike Sher (248) 496-1572 - 04/26/12 07:11 AM
 The Mike Sher Team, Max Broock Realtors, (248) 496-1572 is proud to be a Bank of America Equator Approved Realtor.
 
Having a Real Estate Licenses is not enough to be a Short Sale professional. What elevates a Realtor to a Short Sale professional?:
1.      How man of short sales that have closed?
2.      Do they negotiate the short sale or pass the file to another company to do it?
3.      Are they educated in short sales?
4.      Do they teach short sales to other realtors, CPA’s or Financial Planners?
5.      Do they keep up to date on the ever changing … (0 comments)

oakland county: Oakland County Short Sale Realtor "Strategic Default is not the best option for distressed homeowners in Oakland County " Mike Sher Max Broock Realtors (248) 496-1572 - 04/25/12 06:45 AM
 FOR IMMEDIATE RELEASE                                                                                              For more information, please contact: 
                                                                                                 Michael B. Sher248-496-1572- Team@mikerealrtor.com
 
Strategic Default is not the best option for distressed homeowners in Oakland County
 
 Bloomfield Hills, Michigan – 04/25/2012 – For homeowners in danger of losing their home, walking away might seem like an attractive solution. “Many distressed homeowners in Oakland County have been getting bad advice when it comes to strategic default,” said Mike Sher, CDPE … (0 comments)

oakland county: Short Sale Tip# 38 HAFA helps those who help themselves. Oakland County, Farmington Hills MI - 05/04/10 04:03 AM
Hafa is a great program but how do you participate? The problem is that though many servicers say that they are participating in HAFA, they have none of the documents to apply for the program. Do not let that stop you. Below you will find a link to the documents you will need to participate in HAFA. If the servicer you are working with does not have the forms, print out the right document from the link, fill it out, have the borrower sign it and fax it to the servicer.
This is a new program so do not let the … (1 comments)

oakland county: Short Sale Royal Oak MI Just Sold, Oakland County MI Mike Sher Max Broock Realtors - 05/04/10 02:54 AM
Royal Oak Short Sale Just Sold, Oakland County MI Mike Sher Max Broock Realtors 
Mike Realtor Team sells Homes in Bloomfield, Birmingham, Beverly Hills, Farmington, West Bloomfield. Rochester, Troy, Huntington Woods, Royal Oak & Auburn Hills. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher
The Mike Realtor Team is proud to announce that our Royal Oak Home has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great … (0 comments)

oakland county: HAFA Short Sale Help is here! Oakland County Birmingham Michigan. (Home Affordable Foreclosure Alternatives Program ) - 04/12/10 11:33 PM
Why Fight Foreclosure Alone!
There is big news for homeowners in America. In an effort to slow the rising number of foreclosures, a government-backed program has been released: the Home Affordable Foreclosure Alternatives Program (HAFA). Basically, the program aims to save as many Americans from foreclosure as possible, which also saves the overall value of the surrounding communities.
HAFA offers a $3,000 homeowner incentive for successful short sales or deeds-in-lieu, and also guards the homeowner from harmful lender actions.
To learn more and find out if you are eligible, you can download my free report here:
http://shortsaleoaklandcounty.com/
With one in six … (1 comments)

oakland county: Oakland County Real Estate Numbers for January 2010, Mike Sher Michigan - 02/17/10 12:52 AM
Below is a comparison of January 2009 to January 2010 monthly housing numbers.  Please see the cliff notes below for a quick read, but make sure you check out your individual city to find out how your municipality stacks up. 
It is noticeable that sales our up by 21% and home inventories are down by 16% (shrinking inventories and rising sales units is good medicine to cure market glut!!). Though, on average the sale prices are still down, the fact that homes are selling leads to a bottoming out trend which is hopeful and desperately needed.  If inventories continue to shrink, prices will stabilize though scarcity of available homes to purchase.  … (2 comments)

oakland county: Bloomfield Michigan: JUST SOLD Short Sale 338 Cranbrook!! by Mike Sher Realtor Team - 02/02/10 12:22 AM
 The Mike Realtor Team is proud to announce that our Bloomfield Short Sale listing of 338 Cranbrook with Birmingham Schools has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 or check us out at www.shortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher
 
 

(3 comments)

oakland county: Birmingham Short Sale Realtor Tip #31, Don’t Fail to Plan, Michigan - 01/19/10 08:21 AM
The old saying is still true, “people to don’t plan to fail, they fail to plan. Short Sales are predictably un-predictable. What does that mean? You can always predict that something will go wrong, or will be missed, or overlooked. So, it is time to remember what was passed on from one Boy Scout to Boy Scout, “Be Prepared”. So basic and yet so wise!
Be Prepared:
1. Order Pre-title.
2. Only take a short sale that you know you can close.
3. Be confident but not cocky.
4. Make sure the offer you accept is one that will make value.
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oakland county: Royal Oak Short Sale Realtor Tip#30, keep your friends happy but keep your clients happier! Birmingham MI Max Broock Oakland County - 12/29/09 12:25 AM
Just closed on my 21st short sale of the year.  This was a Royal Oak townhome that we sold for 40% of what my client owed.  My client had been out of work for 9 months and could not find any new employment.  She was burning through her savings and was scared.  The borrower could not get a loan modification because she had no income and soon she was going to have to walk from her home.  This was not in her nature for she was a spiritual person who does not like to walk away from her problems.  Her mother found me … (2 comments)

oakland county: Birmingham, MI, Real Estate, A Short Sale Could Save You from Foreclosure! - 12/17/09 09:00 AM
There are millions of homeowners who owe more on their home than it's worth and don't know what to do. If you or someone you know is in this situation, I'm here to let you know that there are answers.
However, there's also a lot of confusion in the market today. One myth I often hear is that one particular option-a Short Sale-is basically the same as foreclosure. The people who say this couldn't be more wrong!
I want you to know the real facts, and to let you know that there are answers available.
At WWW.ShortSaleOaklandCounty.com I've prepared a free … (0 comments)

oakland county: Birmingham Short Sale Real Estate Tip #29, Know HAFA (Home Affordable Foreclosure Alternative), MI Oakland County. - 12/08/09 07:09 AM
Short sale rules change quickly and quietly.  What does that mean?  It means that the new directive from the Treasury Department did not make my morning newspaper or was splashed all over CNN.  It was sent by email from FNMA, buried in my junk mail.  Like always Important News never makes the NEWS.
So here is the News, which is GOOD NEWS!!  The Treasury Dept has announced that they have added a new program to HAMP (Home Affordability Modification Program).  HAMP is the program that was created so servicers were able to offer loan modifications for people who were facing foreclosures.  Well, it … (5 comments)

oakland county: Ahoy There, A Bottom is in the Horizon! Oakland County, MI Real Estate - 12/08/09 05:25 AM
Could it be?  Do my feet feel solid land?  Maybe sunny skies are here again!  Well we are not there yet, but for the first time, in a long time, the numbers show promise.  Below are the November sales number for The Real Estate One group of companies (Max Broock, Real Estate One and Johnston & Johnston), which makes up the largest broker in South East Michigan. 
These numbers show, that between the First Time Home Buyer Credit and the fact that real estate is dirt cheap here, homes are selling!   Not just selling, but selling for more then they did the same time last year. I know … (0 comments)

oakland county: New Short Sale Website for Oakland County Home Owners http://www.ShortSaleOaklandCounty.com/, Oakland County, MI - 11/12/09 09:36 AM
The Mike Realtor Team is proud to announce that we have launched a new Short Sale Website!!!
New Short Sale Website for Oakland County Home Owners http://www.ShortSaleOaklandCounty.com/, Oakland County, MI
This website was made for consumers to learn about Loan Modifications, Short Sale and Foreclosures.  It has many reports that are easy to read and understand. As a real estate agent, what I often see in troubled homeowners is a belief that they are alone with their challenges. Regrettably, over 70% of homeowners in foreclosure proceed without ANY visible assistance. This is not acceptable for the communities I serve.
 Please check out … (0 comments)

oakland county: Short Sale Real Estate Agent Tip #28, Have a Website Dedicated to Short Sales, Birmingham, MI - 11/12/09 09:26 AM
One of the most important things about being a short sale Realtor having quality content about short sales that sellers can read on-line.  Often, Short Sale Sellers, do not want to call a Realtor first.  They want to learn as much as they can before deciding which agent to work with.  Make sure you have good on-line content and you clients will be happy to work with you.
Content like:
Short sale website, (mine is http://www.shortsaleoaklandcounty.com/) Write a blog about short sales, like Active Rain. Put information on your linked-in page. Your Face Book is a great place to link articles about short … (0 comments)

oakland county: Buyer Real Estate Agent/Realtor tip #3 "Know The (New) Home Buyer Tax Credit Changes"Birmingham, MI - 11/06/09 01:26 AM
Great news for all of you Buyers  & Sellers!!!  The Home Buyer Tax Credit is out and looks great.
Buyers:
Starts December 1st 2009 to April 30th 2010 $8000 for 1st time home buyers $6500 for current homeowners Current homeowners "Must  have used the home sold or being sold as a principal residence consecutively for 5 of the 8 previous years." Must have contract to purchase by 4/3/2010 Must close by 7/1/2010 Income limits: $125,000 single income $225,000 married Sellers:
More buyers are going to be in the market to buy your home.  Reduced inventories will raise sale prices less foreclosures … (0 comments)

oakland county: Short Sale Real Estate Agent Successful Short Sale Profile #2, Novi MI Oakland County - 10/16/09 02:18 AM
This is a Novi Short Sale that I listed and closed.  My sellers needed to sell.  They were both affected by the economic downturn and were unable to continue paying for their monthly mortgage payments.  Their incomes were reduced to more then half of what they were making at the time the mortgage was originated.  The Sellers were thrilled with my services.   Without a Short Sale, they would have been foreclosed on.  This would result in years of debt and probable litigation.  
Some Homes have become an anchor that prevents the owner from progressing with the rest of their lives.  … (0 comments)

oakland county: Short sale Real Estate Agent Tip #26, Learn from those who are doing Short Sales In Your Market Area!!, Oakland/Macomb County, MI - 09/11/09 06:58 AM

This will be my last Short Sale Class, so if you missed the others or you are looking for an update, it will be worth your time to come.  I will have two guests with me, Aric Melder (bankruptcy Attorney) and Brent Jones (CPA).  We will cover how to negotiate short sales in detail, the legal and tax consequences of these transactions.  All three of us are local professionals with real word experience. We can not run from them anymore, so we best learn how to do them right.
Thriving with Short SalesNavigating a short sale in today's market is, at … (2 comments)

oakland county: Short Sale Realtor Tip #24, Both Borrowers & Lenders Are Walking Away From The Home, With The Borrower Left With The Bag! Beverly Hills, Michigan! Mike Sher - 09/09/09 07:06 AM
The link below comes from a CNN report on how banks are foreclosing on borrowers but never taking title so the borrowers are foreclosed on but still have all of the obligations as owners of the home.  All city fines, taxes, assessment and any violations from the municipality are still the responsibility of the now foreclosed borrower.  Also don't forget the balance of the note plus late fees and interest are still the obligation of the borrower. 
Why would the bank do this?  The value of the asset (borrower's home) has declined to a point that it would cost the bank … (1 comments)