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Hello Web Visitors...
Can you feel the last days of summer slipping through your fingers? The kids are back in school , it gets darker earlier, there's a nip in the air and it's jacket season. I love this time of year!
I have been really busy since the end of July helping buyers with their real estate needs. For some reason, all of my buyers decided to get motivated to buy at the same time. Hectic, but no problem. It's what I love to do.
Buyers will be finding significant price reductions on properties now that we are heading into the Fall/Winter season. Sellers are nervous and of course, seeing less value in their homes because of it. Sellers, if you get an offer on your home. Do everything you can to work that deal out. It may be awhile before you get another and if you do, it probably will be significantly less than the first offer.
In the morgtage industry, programs for buyers are changing and disappearing almost overnight. New restrictions are making it tougher for buyers to get into a new home. If you are approved to buy, do it now! The supply of homes is abundant, take advantage of what the market has to offer.
Give me a call. I would love to get you home!
WEB STATS
I wanted to share with you the latest statistics from our HometownOne web site and why it is so valuable to those of you who are in the market to Buy or Sell a home.
* 75,134 Listings (home profiles) were viewed, averaging 2,504 per day.
* 1,595,000 Hits to HometownOne.com
* 82,376 Visitors to HometownOne.com
This kind of exposure gives my clients more power in the internet marketplace than any other real estate company. Why would you list your home with anyone else?
NEWSLETTERS / Confessions of a Realtor
Please find some of my past confessions to see what has been going on this year in the Real Estate arena and close to home.
* September / October: How I spent my summmer vacation.
* May / June: Realtor.com info, Home Repairs
* March / April: Short Sales.
* Jan / February: Tax Assessments.
It's all in the Details.
In this daunting real estate market, sellers especially have to pull out oll the stops when selling their homes. I know you have watched HG tv, read many articles on the joys of staging (which does work by the way) and have come to realize that not only do you have to sell your house for less in todays market, but that you have to put more money into your house and not see it when you go to sell. That is a tough nut to swallow! As a real estate agent that has had years of attending to details in the fields of illustration, design and rehabing homes, I give my clients a detailed analysis of their home and what turns buyers on...and off. How valuable is this in a market that is not very forgiving. My listings are selling and my sellers are happy! A great combination.
Should I Stay or Should I go?
For those of you who have to sell, buyers do have the upper hand. Offers are coming in low on "well priced homes", but buyers are not getting everything they are asking for. Some sellers are holding firm on prices and buyers are walking away and coming back. Negotiations are tricky and they need to be handled by a seasoned Realtor who can navigate these complex deals with skill and results.
Foreclosure or Short Sale
Yikes, while this is not a popular alternative, it may be necessary for some homeowners to get out from underneath a home that they can no longer afford. This is harder than a bankruptcy to recover from and I don't recommend it unless you have exhausted all of your options. A foreclosure is more damaging to your credit than a Short Sale. A Short Sale will bruise your credit, but will make it possible in a couple of years to purchase another home. Immediately contact your mortgage company to work out a reduced or restructured payment plan until your financial situation changes. Lenders are also suffering from market conditions and don't want your house. Let me help educate you on the ropes of a Short Sale and dealing with the banks.
Credit Repair.
I have access to an awesome credit repair program that is the real deal! This Canton company will help you repair your credit while you watch. It lets you keep track of those accounts that have been cleared and you can watch your credit score rise.
If you are going through Foreclosure or Bankruptcy, your credit is damaged. If you need to find a place to rent with damaged credit, it is next to impossible to find someone who will rent to you, using this service will make your odds better.
Canton Credit has a "money back" guarantee! Call me, I can hook you up!
House to "Flip"for.
This is the science and calculation of buying depressed and foreclosed properties. Investors (like you) re-hab them and put them back on the market in a short period of time for a profit.
The key in this market is to "buy low and sell low". You can't get greedy in this market. If you do, you will be holding onto this property for the current market average of 6-9 months at least before selling, meanwhile eating into your hard earned profits. Always factor your flip costs and mortgage holding costs. Remember, no matter how well you budget, plan 5%-15% for cost over-runs and Ooops!
The Road to Renting.
For those of you who have not been able to sell your home but have had to move on, perhaps you should consider renting as an option. If you can't, or don't want to do it yourself, there are companys in the area that will manage your rental for a fee. Remember when you have a rental property and living in another property, the Homestead exemption has to be removed from the rental property. By doing this, the taxes on this property will adjust up or be Non Homesteaded. As a ballpark, they will adjust approximately 40%. Check with your municipality for specifics. You will also need to have Renters Insurance for the house as well. Plan to budget for these items when you are setting a rental price for your house.
Renting beats an empty house or a house that may go into foreclosure. Because there are so many foreclosures, these people now need a new place to live. Many renters are gainfully employed and can afford a rent payment, but have bruised credit and low scores. It may take a little time and a lot of applications to find a renter for your property.
HUD also offers a program called Section 8 that finds houses for qualified qovernment renters and HUD pays you a portion or a majority of the rent payment directly. This is a great alternative.
Detroit Housing Commission / Detroit office: (313) 877-8000 2211 Orleans St. Detroit, MI 48207
Satelite office Livonia: (248) 474 -4340
Children see life through bright colors. What colors would you paint your life?
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