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Karen Reeber
REALTORĀ®
    Years of Experience: 35+

    ABRĀ®: Accredited Buyer's Representative
    CRP: Certified Relocation Professional
    CRS: Certified Residential Specialist
    RE/MAX Lifetime Achievement

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Archive for July 2009

TO INSPECT OR TO SAVE THE MONEY ON YOUR FARMINGTON HILLS HOME PURCHASE?

Monday, July 13th, 2009

Don’t even try to scrimp on this cost if you are purchasing a new/used home. This is probably some of the best money that you will spend in purchasing your home. It can save you heartache and future hardship. Getting a good qualified inspector is imperative in beginning your inspection process. After you have found the home of your dreams, the last thing you want it to become is a nightmare or money pit. There are so many possibilities of hidden issues that a good inspector can uncover so you know exactly what you are getting into.

Sellers are supposed to fill out a “seller’s disclosure” letting the prospective purchaser know what the problems are that currently exist in the property. However, there are some things that the sellers may not even know about. How many times do sellers go up in their attic to check and see if there is mold?

How many times do sellers put moisture meters on the areas that they think might have water issues? Many sellers truly do not know all of the problems that might be lurking about in the home that they are living in.

Most inspectors will also let you know how to maintain certain areas of the home so that you can keep from having problems in the future. This knowledge alone can be priceless if it keeps the present roof from having to be replaced in 3 years instead of 6 or having windows last longer than they could otherwise.

A good inspector will go through the home thoroughly explaining along the way and answering your questions as he goes. You should also get some type of written report so you have that to review once the inspection is completed.

After moving in, it is a good idea to keep notes of all the maintenance that you do; so, you have a timely record of what things are coming up to be done and what things you have already taken care of and no longer have to be concerned about.

Yes, home ownership is wonderful; but, it is also a responsibility. One, that if you take seriously, will be to your advantage in the years to come.

Tips for Selling Your Farmington Hills Home in a Down Market…

Tuesday, July 7th, 2009

….Or in any market for that matter. If you are faced with the prospect of selling your home in today’s market, there are definitely things that you can do to give yourself the best advantage for getting the most money that a buyer is willing to give you for your home in this market. Unfortunately, the sellers are still competing with foreclosures and short sales keeping private owned homes in the background for most buyers. The last thing you want to do as a seller is put more money into your property to get it sold as you are not likely to get much of a return on that money., However, there are some things that sellers can do to really help their property sell that won’t cost them as much as the positive return that they will get.

First of all, clean your property so it shines. Clean the inside until it sparkles and remove all clutter to make your space look as large as it can. Clear all debris from the outside and keep your lawn and landscaping trimmed.

Paint is one of the best things you can do as a seller to improve the looks of your property inside and outside. It is inexpensive and makes the property feel clean. A new paint job definitely uplifts a dreary listing. Also, removing wall paper can be a tremendous plus to helping your property show at its best. Much wall paper is dated and doesn’t do anything to help the property shine. I will say, as much as I love the new colorful paint, unless you are an interior decorator, I would keep the paint colors neutral. Let the new buyers envision what they might want to do with the decor should they decide to become the new owners to your property.

Again, not the best time to be a seller. However, if you can then become a buyer, this sale could be the best one you will ever make.

Mortgage Rates Ended Nearly Unchanged

Monday, July 6th, 2009

There was very little daily movement in mortgage rates during the holiday-shortened week, and they ended the week nearly unchanged. The economic news during the week contained few surprises.

Following better than expected results for May, investors were closely watching the June Employment report for clues about the timing of any economic recovery. Thursday’s data showed that the economy lost -467K jobs in June, and the Unemployment Rate rose to 9.5% from 9.4% in May. Average Hourly Earnings, a proxy for wage growth, rose at a slim 2.7% annual rate. High unemployment and slow wage growth have caused consumers to save more and spend less. Since consumer spending accounts for about 70% of economic activity, the slowdown in spending has had a large impact on economic growth. For mortgage rates, however, low wage inflation and slow economic growth are favorable.

While the Employment report may have captured the most attention, the week began with a significant annoucement from Chinese officials. According to the head of China’s central bank, there will be no sudden changes to China’s foreign reserve policy, meaning that China will not pull back from buying US bonds. Over recent months, investors have been concerned that foreign central banks would decide to scale back their purchases of US bonds, so this was very welcome news. Recent Treasury auctions have confirmed that foreign demand remains strong.

Treasury auctions may have the greatest impact on mortgage rates next week, with auctions on Tuesday, Wednesday, and Thursday. It will be a light week for economic data. ISM Services will be released on Monday. The Trade Balance, Import Prices, and Consumer Sentiment will come out on Friday.

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