Allen Park

The first time buyer tax credit expires on 11/20/2009.   This means you have to be closed by this date in order to qualify.  There is legislation pending that will extend this tax credit, but to date has not passed.  If you live and work in Michigan this tax credit is essential to our economy.  Please » Read more  

Was told today that minimum FICO (credit) scores were increased from 620 to 640. Does not make sense to me…banks are using TARP money to invest in other revenue streams and buying up smaller banks.   This will reduce the number of first time buyers that previously could have purchased a » Read more  

One way to look for market improvement when you are or have been in a declining market is to look at the difference between list price and sales price.  I am looking at private owned sales for the months of July, August and the first 15 days of September.  Here is what I discovered. July: List » Read more  

If you are serious about taking advantage of the “First Time Buyer Tax Credit” you better start getting busy with finding your new home. The program is slated to end November 30, 2009. That means you have to have closed the transaction by this date. There is talk about an extension, » Read more  

Any time you enter into a negotiation on an offer to purchase on your home you always have to determine what is the breaking point. What this means is at what point do you say that enough is enough and you don’t care if you lose the buyer or not. Now, please realize » Read more  

At one time there was a mortgage interest rate and that was it. 4,5 6…whatever. Home buyers did not have a choice. Add discount points to this and the answer was always the same…take it or leave it. Today, buyer’s have more choices in how they finance their new home. » Read more  

I have no data available to back up my perception of the unemployment rate of Downriver homeowners, but I have to think it is in excess of 25%. The figures the government gives us does not consider those who have dropped off the roles and have just stopped looking (extensions taken under consideration). » Read more  

I see hopeful signs about our downriver housing market. First of all, I have been told that about 700 employees have been recalled to National Steel (formerly Great Lakes Steel). Also pending sales are up over June 2009: » Read more  

Scheduled for August 10 thru » Read more  

Our real estate industry is struggling with many issues, list pricing and appraised value evaluation being my topic today. Never in my 25 years of selling residential real estate have I seen the number of low appraisals that have become the norm for our business. Home owners in Allen Park are seeing the » Read more