metro detroit condos: Selling an estate home (after a death) - 08/13/10 03:47 PM
When selling any home you should clean up the messes.  But for some reason when it comes to estate homes people don't want to do anything.  Many people don't want to invest any time or money into a home to get it to sell.
What they don't realize is that they are losing money.  It is not unusual for estate homes to be Fixer-uppers.  Many times they end up selling below fair market value because there is so much work needed.  So my advice to you is to step back and evaluate the home.  Sometime simple low cost repairs can bring up … (6 comments)

metro detroit condos: We have no problems - 04/26/10 01:22 PM
Yes We no problems............... no reason to get flustered, no reason to get upset.  We only have to search for a solution to find for the situation we are in.  In Metro Detroit real estate there are always situations, and issues that come up that need some sort of solution.
There are appraisal issues where the house does not appraise.  There are only a few solutions to this problem.  Either the seller lowers the sale price, or the buyer brings more money to closing, or we have to find a buyer that can pay cash, or the house doesn't get sold.
(3 comments)

metro detroit condos: How long will it be before the Michigan real estate market comes back? - 12/27/09 02:13 PM
So many baby boomers and people that are already retired are wondering how long before the Southeastern Michigan real estate market comes back?
Well let's look at the past to predict the future.  Right now we are back to 1990 home prices.  So let's think about this.  From 1990 to 2004 it took 14 years for the market to get to it's highs.  It was a booming real estate market.
Detroit's economy was rolling along.  Homes were being built by the hundreds each year.  The Big 3 were doing good.  Unemployment numbers were low.  Interest rates were on the down ward … (4 comments)

metro detroit condos: Should you really buy a home NOW? - 12/02/09 02:46 PM
As a young person when should you buy a home?  Should you buy when you first get a job?  When you get married?
                                                                        
My advice as one of the "older" generation is to enjoy life.  If you have the ability to live at home for free, then buying a home may not be a smart idea.  Maybe saving more for a down payment might be smarter.
Sure right now is a great time to buy.  We have homes that are at some of the lowest prices since before the 1990's in many parts of the country.  In the Metro … (5 comments)

metro detroit condos: Getting ready for the new Metro Detroit foreclosures coming - 11/29/09 02:32 PM
Yes there are going to be quite a few new Metro Detroit foreclosures coming.  Between the moratorium that President Obama put on foreclosures and the moratorium that Governor Granholm put on them we don't have many Metro Detroit foreclosures right now.  Plus Fannie Mae the quasi government middle man is under going some procedure changes.  So some homes have been pulled off the market.
Even the big foreclosure real estate agents have a small inventory.  What has happened is that the moratoriums did not end until May.  So it takes us here in Michigan 6 months longer because of the homeowner … (2 comments)

metro detroit condos: Would you or wouldn't you - 11/25/09 02:09 PM
Over the past year I have read different blogs on somebody complaining or wondering if they should do this or that.  So here is my re cap>>>>>
1.)  You the listing agent are working a short sale.  You have an offer.  The negotiator comes back and tells you that you need to reduce your commission to get the deal done.     WOULD YOU OR WOULDN'T YOU?  I don't like being told what to do but I would, simply because I work for the seller.  It's my job to get the deal done.  Sure I would love the full 3% but I was always taught … (6 comments)

metro detroit condos: The latest scam in Metro Detroit real estate - 11/03/09 12:36 PM
The latest scam in Metro Detroit real estate is homeowners short saleing their house to a relative.  It is not supposed to happen.  In fact many banks have a form that the buyer signs that they are not related to the seller.  But it is happening.  I myself have heard of one and have heard of others lately.
The one I know of (or believe I know of) was helped by the real estate agent.  He was a friend of theirs. I think the Northville home went for over $500,000 originally.  Then the homeowner bought it back for about $300,000.  Not bad to … (7 comments)

metro detroit condos: Keeping your house safe Livonia real estate and Metro Detroit real estate sales tips - 11/01/09 11:51 AM
Whether you are selling Livonia real estate or any Metro Detroit real estate here are tips how to keep your house safer when selling it.  What I mean by safer is keeping your valuables safer.
When you sell your house you need to put your valuables out of reach of potential criminals.  I'm not saying potential lookers or potential home buyers are going to steal from you.  But why give anybody temptation.
So here are my tips:
Put your jewelry in a safe, lockbox, or at a trusted friends house. Guns, especially pistols should be hidden, or locked up Cash, change jars, … (0 comments)

metro detroit condos: are you an out of state or out of country investor - 10/26/09 02:43 PM
 and have a few thousand bucks to invest.  But is Detroit the place to invest your money? Sure you may have never heard of such low home prices.  Yes homes in your country or state may be much higher.  In fact they may be hundred of thousands of dollars higher.  But just because a home is $500 or $1000 or $10,000 doesn't mean it is a bargain.
What will be your return on investment? what will be your downside? what will it cost to bring up to code or to saleable condition? what is Detroit and rental market like? what will it … (1 comments)

metro detroit condos: Metro Detroit short sales Part 2 - 10/25/09 02:14 PM
 If you are selling your Metro Detroit home here are the two areas you may have liability.
1. Tax liability -  currently there is no tax liability because President Bush declared there would be no tax liability for on a principal residence.  It hasn't expired yet.  Before President Bush did that the banks would send out a 1099.  The borrowers would be liable for the tax on the deficiency.  If it is a investment property you can get a 1099.
2. Deficiency liability -  Difference between sales price and loan amount.  The banks can come after the borrower for the deficiency.  The only protection the … (0 comments)

metro detroit condos: Metro Detroit relocation information - 10/25/09 01:40 PM
Metro Detroit Relocation Information Metro Detroit Relocation Information is important to you the buyer.  The first thing I recommend you should do is search the city.  Google or Yahoo the information you want.  Go to the actual cities site and the chamber of commerce and read about the community.  Read about the schools, police and fire department.  Then use outside sources to get through the "hype"
Metro Detroit School Information  So your move to Michigan is going to take you to Redford. What about the schools, what about the test scores, How does Redford compare to Northville.  Or how does Plymouth schools compare to Novi schools.  Here … (0 comments)

metro detroit condos: Metro Detroit Short sales - 10/21/09 02:16 PM
I saw a blurb on short sales on a national morning news channel this week.  What they were showing is that short sales are taking a long time.  They say they are taking twice as long as they were a  year ago.  They showed a couple of people that took 8 months and 12 months.  In the metro Detroit area most short sales are taking about six months.  The issue usually is that sellers are trying to short sell their property too late.  If you think you are in trouble or need to sell call a Realtor quickly.  Get the home … (2 comments)

metro detroit condos: 12 days left for the first time home buyer tax credit - 10/18/09 01:08 PM
Unless our lazy politicians get off their butts the first time home buyer tax credit will expire on Dec 1.  To most home buyers that means they have to have a purchase agreement signed by November 1 in order to get the mortgage done in time.
It is going to take most Michigan mortgage companies 30 days to get the mortgage done.  So if you are trying to get that first time home buyer tax credit get moving quick.  Don't depend on those politicians to come thru.  I think they have lied to us once before.
Russ Ravary your Metro Detroit … (0 comments)

metro detroit condos: Due diligence - 10/17/09 02:25 PM
Just what is due diligence.... Quite simply it means getting off your arse.... and finding out for yourself.  Sure we as your Realtor are your go to person, but there is tremendous liability sometimes in getting that info.
Think about this...
I had a client ask me about lot lines.  Sure I can make an educated guess but you need to hire a surveyor to find out exactly where the lot lines are.
I had a client ask me whether Novi schools or Northville schools were better.  I gave them some independent websites to check out.  Because my opinion might be … (3 comments)

metro detroit condos: First time home buyer meeting - 10/16/09 02:28 PM
I met with a Clawson / Royal Oak / Troy first time home buyer for the first time tonight.  We had spoken on the phone on Tuesday on what they wanted.  They wanted to buy a home in Warren, Clawson, Troy in the $80,000 - $120,000 range.  One of their priorities was a good school system.  The husband wanted a lower price house and the wife wanted a bigger home.
I set up some homes for them to see on the lower end of the price range.  I met with the husband tonight at the first house.  I had six homes set up to … (2 comments)

metro detroit condos: Michigan sex offenders list - Diary of a metro Detroit Realtor - 10/15/09 03:10 PM
I had a great day!  I lost a Canton home deal today.  But it was a great day.  I could have made over $6000 on the deal.  But it is great that I lost it!  it's great that I didn't make money today.
You see between the home inspection and the client checking the Michigan sex offenders list and finding out that there was a sex offender living down the street they backed out of the deal.  I called my police friend to ask a little about it.  I never really dealt with this before.  You see you can become a … (4 comments)

metro detroit condos: The metro Detroit real estate market is scaring me. - 10/15/09 02:26 PM
I have been busy selling Metro Detroit real estate these last two months.  I thought we were turning the corner.  I thought the first time home buyer tax credit was going to save the metro Detroit real estate market.  But I realized today that I was wrong.
You see last year I was predicting that the market wouldn't turn for 2 to 3 years.  Last year I believed the Metro Detroit real estate market would not turn until the people that lost their homes in foreclosure could buy again.  That is in 3 years.  It was going to take an influx of … (1 comments)

metro detroit condos: Farmington Hills real estate update - 10/11/09 02:09 PM
 Here is the latest Farmington Hills real estate update.  Like most of Metro Detroit real estate the homes that are selling in Farmington Hills is the under $300,000 range.  The majority of the homes that are selling in the Metro Detroit area.  Right now we have about a 4 month supply of Farmington homes on the market.
But houses are selling which is a good thing. 

Russ Ravary your Metro Detroit real estate agent serving Oakland, Livingston, Macomb, and Wayne County
Search Metro Detroit foreclosures
(1 comments)

metro detroit condos: Why your credit report is so important - 10/11/09 01:51 PM
 Your credit history is very important to lenders and mortgages in determining whether you get a loan.  That is why your credit report is so important.  A skilled lender is able to read what it means.  A credit report shows how many accounts you have open, how much you owe, how long they have been open, what available credit is available.  But the most important item is your actual payment history.  How many times in the last two years have you been late on your accounts?  Do you always pay on time?  Do you let accounts go to collection?  Have you had … (1 comments)

metro detroit condos: I have another smart home buyer - 10/04/09 01:50 PM
I looked at a beautiful home two days ago with a client.  It was about 1300 square foot bank foreclosure and was listed at $56,000.  It was absolutely gorgeous.  There was nothing wrong at all with the house.  It was worth an easy  $110 - 120,000.
It outshone every house we looked at that day.  I recommended to my client that she put in a bid a $75,000 the max she was approved for.  I told her  to email me once she decided on what to price to bid that night.
Later that night she sent me an email stating that … (6 comments)

 
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com (Real Estate One)

Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239

Michigan homes for sale ~ yesmyrealtor@gmail.com

Commerce, MI

More about me…

Real Estate One

Address: 2730 Union Lake Road, Commerce Township, MI, 48382

Office: (248)406-2976

Mobile: (248)310-6239

Michigan and Metro Detroit area real estate. Local, up to date by a Michigan real estate specialist. Novi Real estate, Livonia real estate, Northville real estate, Wayne county real estate, Oakland County real estate, Livingston county real estate. Buyers and sellers tips


Listings

Links

Archives

RSS 2.0 Feed for this blog