1. There are still great deals out there. Just because the “government-sale” is up, doesn’t mean you can’t pay the price you want. Lots of houses = Lots of price ranges
2. Summer is almost here! Everyday, there are lots of new houses for sale because sellers’ know this is prime time.
3. Now that the tax credit is up, it’s going to be a little less hectic out there in the market.
4. 80-degree days beat tromping around in the January cold any day!

AND

      5.   The cost of renting and buying are very comparable. Why not pay into something of your own?

Best,

Christie

248-229-5125

What are you waiting for?

To get the tax credit, you need to have signed a purchase agreement for a specific home by April 30 AND you must close by June 30.

That’s two months, which means, if you’re only signing a purchase agreement now, that doesn’t leave much time. The best route to go is to put an offer on a private sale (not a short sale) or a bank-owned house (which tend to get a lot of offers).

Luckily, I have two places that might be perfect for you if you’re getting in a little late in the game!

Both are regular, private sales, both can close quickly, and both are completely move-in ready.

Option 1:

7244 Hudson, Warren, MI

Price: $29,900

• 690 sq. ft.
• 2 Beds
• 1 Bath
• 1.5 Garage
• NOT a short sale or bank owned
• Fully-fenced yard
• NEW: KITCHEN, paint, roof, plumbing, electrical, carpet, garage floor, insulation

Option 2:

34687 Mercer Ln., Fraser, MI

Price: $144,900

• 1,653 Sq. Ft.
• 3 Beds
• 1.5 Bath
• 2.5 Garage
• NOT a short sale or bank owned
• Lots of updates – recessed lighting, skylight, alarm system, extra insulation, ceramic tile
• NEW: paint, driveway, landscaping, and roof
• Low-traffic street, close to schools (Fraser)

Call me about either property if you’re interested in a private SHOWING!

Cell: 248-229-5125, Email: piper.christie@gmail.com

Best,

Christie

Maybe you’ve been keeping up with the current real estate market, maybe you haven’t, but just in case you’re interested, I figured I would give everyone an update as to what sales were in January to March this year.

Hint… it’s not bad.

In fact, during the first quarter of 2010, we have started to see a normal housing market, specifically for homes that are priced under $100,000. And in some cases, we’re seeing a seller’s market.

As prices in homes increase, there is a tendancy for it to become a buyer’s market.

What is a buyer’s market? When it’s a buyer’s market, there is a supply of more than 6-months worth of houses on the market. Homes are listed for a longer period of time, which makes it easier for a buyer to find what they want, at the price they want.

What is a seller’s market? A seller’s market is when there is a 2-month or less supply of houses. Fewer houses on the market means that there are more buyers fighting for the same homes and for sellers to increase their prices.

What is a normal market? When the housing market is normal, there are 3-6 months worth of houses on the market. This is considered normal because it is the most even playing field for both buyers and sellers – there are homes for buyers to choose from but not so many as to make the sellers decrease their price.

So check out the reports below to see where your house stands or where you’d like to buy!

• Blue = Normal Market
• Green = Seller’s Market
• Yellow = Buyer’s Market

Best,

Christie

P.S. Have any questions or would like to know how much your home is worth? Call me up at 248-229-5125 or email me at piper.christie@gmail.com.

34687 Mercer Lane

There is another price drop on 34687 Mercer Ln. in Fraser, MI to bring the price down to $144,900. 

The home is a well-taken-care-of brick ranch with neautral colors, and lots of space. It’s an open floor plan, a double lot, and a huge deck that runs along the back side of the house – good for entertaining!

Sellers are very motivated to get it sold and looking at all offers.

Some specs:

• 1,653 Sq. Ft.
• 3 Beds
• 1.5 Bath
• 2.5 Garage
• NOT a short sale or bank owned
• Lots of updates – recessed lighting, skylight, alarm system, extra insulation, ceramic tile
• NEW: paint, driveway, landscaping, and roof
• Low-traffic street, close to schools (Fraser)

Let me know if you’re interested (cell-248-229-5125), and we can set up a showing!

See the full listing for Mercer.

Not sure what the latest is in Real Estate right now? No worries. For today, I’ve compiled (what I think) are the top 5 stories for the past couple days with links to each article.

• Metro Detroit Housing Sales Rise. Home sales in Oakland, Macomb, and Livingston are up. Detroit News. March 17, 2010.  
• Mortgage Help: 170,000 Get Permanent Aid. Under the Obama administration’s foreclosure prevention program, thousands are now eligible to get loan modifications. CNN. March 17, 2010.
• Nabbing a Bargain-Basement Mortgage Before Rates Rise. Loan rates are expected to increase. Wall Street Journal. March 13, 2010.
• More Homeowners are Opting for ‘Strategic Defaults’. Even though borrowers can afford payments, many are choosing to go underwater anyway. Chicago Tribune. March 17, 2010.
• Remodel to Recoup. When choosing to remodel a before selling a house, the bathroom and kitchen will give you the most bang for your buck. Detroit Free Press. March 14, 2010.

Agency relationships are some of the foundations of how real estate business is done, but few people know what they are really about.

The simplest way to explain it? Agency is who the Realtor represents when someone is buying or selling a home. It’s where the loyalty goes when an agent is working with a buyer a seller – is the agent looking for the best interest of the buyer or the seller? This is what agency is all about.

What about a seller?

A seller is working with an agent who is selling their home. They fill out all the paperwork that lets the agent list all the specs of the house, upload photos, and put up a sign in the yard (and probably lots other things too). Part of all the paperwork says that the agent will look out for the best interest of the seller, have the seller’s loyalty in mind. This is what we call a seller’s agent.

What about a buyer?

A buyer is working with an agent who is helping them look for a new home. Unlike the seller, the buyer doesn’t have to fill out the paperwork to work only with this one agent. If that’s the case, the agent will still be working with the seller’s loyalty in mind, even though you’re mainly working with the buyer. This is still a seller’s agent.

But even though you don’t need to fill out the paperwork that says you only work with one agent, it’s HIGHLY recommended. If you’re letting an agent showing you houses who doesn’t have an agreement with you, they are working for the seller.

But if you agree to work exclusively with this one agent, then you have someone in your corner who is going to negotiate on your behalf and have your needs be their top priority, not the seller’s. This is called a buyer’s agent, and if you are a buyer, it’s the best way to make sure you’re given the fairest treatment.

What is required?

Because agency is sometimes a confusing topic, it’s actually required by law to have buyers and sellers sign that they understand who is representing them, if anyone.

So when you’re out looking at houses, now you have a bit more information about how the process works! But like always, just send me an email or call me up if you have any questions!

Best,

Christie

All Weekend

-         See the comedy stylings of Darren Carter at Mark Ridley’s Comedy Castle in Royal Oak, shows at 8 and 10:30 p.m. – www.comedycastle.com

-         Listen to the hundreds of bands in Hamtramck at the Metro Times Blowout (March 5-6) – http://www.metrotimes.com/

-         Want a family event? Go to the Detroit Kennel Club Dog Shows (March 6-7) from 9 – 4 p.m. at Cobo – http://www.detroitkennelclub.com/

Friday, March 5

–        Game Time! Red Wings @ 7:30 vs. Predators – http://redwings.nhl.com/

Saturday, March 6

-         Like figure skating? Support CARE House of Oakland County at 7 p.m. for the figure skating exhibition. – http://carehouse.org/news.asp

Sunday, March 7

-         Game On! Pistons Game @ 6 vs. Houston – http://www.nba.com/pistons/

-         Check Out “Rain: A Tribute to the Beatles” at the Fox Theatre at 7 p.m. – http://www.olympiaentertainment.com/

If you’re a buyer, Macomb County, and really, many of the surrounding areas are a goldmine for housing deals right now. The market has been flooded with foreclosures, short sales, HUD homes, and just lower home prices than we’ve seen anytime recently.

But just because some of these houses have a great sticker price, there might be a lot of extra work that needs to be done before you start to feel comfortable in your new home or in some cases, before you can even move in.

I’ve stepped into bank owned, HUD houses, and certain short sales, and it’s a regular reaction from buyers that I hear:

Where’s the refrigerator? Where’s the bedroom door? Why is that giant hole in the wall?

It’s more than a little overwhelming, especially for new buyers, when they realize that the buying process won’t end at the closing table because there is so much extra work that needs to be done.

It scares some people away into wanting to just buckle down and spend the extra money to get a home that’s ready to move in. Other people? They decide that they can do the extra legwork to make the place their own.

Unfortunately, there are extra costs that are involved – fixing a roof, buying a stove, or updating some of the electrical.

These things can add up, but fortunately, there are assistance programs out there to make the home-buying process a little easier on the checkbook.

Community Development Block Grants (CDBG)

These are funds that are allotted for community development in Macomb County. The money is set aside to help low to moderate-income individuals or to prevent slums or blight. The amount available varies from year to year, but on average, there is about $1.7 million set aside for projects.

Fannie Mae Seller Assistance

Fannie Mae, which owns many houses on the market, has different assistance plans to help out new homeowners. Until May 1^st, owner-occupants who close on a Home Path property, are able to get 3.5 percent of the final sales price to go toward new appliances of their choice or closing cost assistance.

Lowe’s Discounts

As part of being a Realtor, agents can get 10 percent off coupons to give to our buyers and sellers. So if you aren’t able to get the Fannie Mae appliance assistance, we’re able to help you out as well.

Other Resources

Similar to the Macomb County grants, there are a lot of programs out there, even on a state, national, or community level (such as Clinton Township, Roseville, St. Clair Shores, Sterling Heights and Warren) that individuals can look to for assistance, as well.  Some of these programs include loan programs but others are grants.

*If you have other questions about buyer-assistance programs, please let me know, and I’ll find the answer for you!

Best,

Christie

Go to the city (or county or township) website. It’s a great resource. And even if there isn’t a lot of breaking news on the main page, city websites usually have an updated calendar of everything going on that month and in future months. They also give links to other places of interest in the area, like parks and recreation and library sites, and provide information on schools.

Fraser, like many community websites, provides an interactive map that lets you see what's going on this month or next.

Some cities, such as St. Clair Shores, have even started a Facebook page that gives important updates about the community.

Click the photo to go to their Facebook page!

Below is a list of local community websites to get you started.

Armada

Bruce

Center Line

Chesterfield

Clinton Township

Eastpointe

Fraser

Harrison Township

Lenox

Macomb Township

Mt. Clemens

New Baltimore

New Haven

Ray

Richmond

Roseville

Shelby

St. Clair Shores

Sterling Heights

Warren

Washington Twp.

*Have any more questions about the local communities? Email me, and I’ll find the answer for you!

Best,

Christie

Take a look at these real estate tax deductions:

Moving Costs. Did you know that you can take a tax deduction on the costs of your move? There are some requirements though, including a job move, how far you live from your job, and how long it takes you to get to work.

Buying a Home. When you buy a home on a mortgage, you can deduct the points you paid for the mortgage as well as real estate taxes.

In addition, if you are paying mortgage insurance, which is usually for everyone buying a house with less than 20 percent down, you can write off that cost.

Selling Your Home. If you sell your primary home, you’re able to exclude up to $250,000 of gain for singles and up to $500,000 for married couples. There are some conditions as to how often you can use this (once every two years) and you have to use it as your main residence. Included in this can be costs associated with selling you home, including legal fees, commissions to real estate agents, and closing costs.

Best,

Christie