K.M. Minemier & Associates is a certified Woman Owned Small Business (WOSB) engaged in full service real estate asset management and marketing.

HUD Articles

Michigan Down Payment Assistance

May 15, 2023

As realtors we often come across buyers looking to purchase their first home but do not have enough for the down payment.  That’s where the DPA program from MSHDA can come to the rescue. The Michigan State Housing Development Authority is expanding its MI 10K DPA program statewide, helping low and middle-income homebuyers overcome the biggest ...

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Illinois spring housing market started early !

May 14, 2023

The Illinois housing market is continuing to cool off from the pandemic housing boom, with the number of home sales still down significantly while prices are holding steady compared with the first quarter of last year, housing experts say.Yet, for both the Chicago metro area and Illinois as a whole, prices and sales began increasing month-over-month in February ...

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Is Now a Good Time to Buy a House?

May 11, 2023

https://homebuyer.com/learn/is-now-a-good-time-to-buy-a-house Is Now a Good Time to Buy a House? [May 2023 Data]The most recent Homebuyer.com data indicates that, for first-time home buyers, May 2023 is a good time to buy a house. This article provides an unbiased look at current mortgage rates, housing market conditions, and market sentiment. We highlight why two-thirds of renters would ...

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Steps to Take When Buying Your First Home

May 10, 2023

The following eight steps will help you get your financial and mental houses in order so you can search for a new home with confidence.1. Assess Your DebtLenders want to know that you’ll be able to handle the debt you already have, in addition to your new mortgage payment. An important metric is your debt-to-income (DTI) ratio. ...

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Don’t Have Much Saved for a Down Payment? These Options May Help You Buy a Home No Matter What Your Savings Account Looks Like

May 10, 2023

In a perfect world, as a homebuyer, you would have 20 percent of the purchase price of your home set aside for a down payment. But we don’t live in a perfect world, and while it’s certainly nice to have a sizable down payment at the start of your home search, it’s by no means a ...

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Terminating a HUD Contract

May 10, 2023

If it is ever necessary to cancel a HUD transaction (contract) it is important to know how to do it and what is the likelihood of having the earns money returned. The answer depends on whether you are an owner occupant or an investor. Owner occupants will receive their earnest money returned where they must cancel a contract due ...

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Housing Market Forecast 2024 & 2025: Predictions for Next 5 Years

May 10, 2023

Are you curious about what the next 5 years hold for the U.S. housing market? Recent reports suggest that the housing market downturn could wipe $2.3 trillion in value, with experts predicting prices could still tumble another 10%. Rising mortgage rates, a lack of affordable housing, and the COVID-19 pandemic have all contributed to this decline, which ...

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Landscaping Tips to Sell your Home!

May 10, 2023

Spruce up outdoor containers.Container plants, especially large tropicals, add considerable interest to patios and doorways where would-be buyers enter and exit the house. Such displays also demonstrate the endless possibilities for designing with container plants.Touch up the mulch.Nothing spruces up a place like a new application of mulch, so apply a fresh layer in all your ...

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5 Surprising Ways Homebuyers Can Outsmart Today’s High Mortgage Rates

May 09, 2023

By Andrea RiquierMay 9, 2023Mortgage rates have been on a wild tear recently, reaching 20-year highs topping 7% near the end of last year and bouncing around unpredictably ever since. And since even slight fluctuations in rates end up costing homebuyers hundreds of dollars a month, it’s understandable that many are paralyzed by indecision—should we buy or ...

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Chicago marketing

May 08, 2023

Latest statistics in Chicago and surrounding suburbs, indicate inventory is rising, prices are being reduced and sales are slowing.  All that being said, some homes still get multiple offers and fly off the market.  Why is that?  Well the answer is that the home is priced appropriately,  or it can be bargained priced to produce ...

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In Case You Missed It: Forbes Magazine Highlights the Four Women Leading HUD, the FHA, Ginnie Mae, and FHFA

May 05, 2023

HUD No. 23-090HUD Public Affairs(202) 708-0685FOR RELEASEWednesdayMay 3, 2023Last week, Forbes Magazine highlighted that for the first time in history, four women are at the mantle of the U.S. Department of Housing and Urban Development (HUD), Federal Housing Administration (FHA), Ginnie Mae, and Federal Housing Finance Agency (FHFA).In their Cover Story, linked and pasted below, the leading ...

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The Upside of Downsizing

May 04, 2023

Although downsizing is usually a popular choice for retired homeowners, there are many other life changes that could make downsizing a good option.  According to US News, "younger people are also looking for downsize to save money on housing."During the inflation that we have been experiencing, it is especially worthwhile to save money.  On ...

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Here's a Key Sign the Housing Market Is Shifting in Advantage to Buyers

May 03, 2023

Sellers are quickly adapting to the new normal in the housing market, and it's resulting in buyers getting better deals on home sales.Nearly 42% of home sellers gave buyers concessions during the last three months of 2023, according to brokerage Redfin. It's the highest share ever recorded by Redfin, though bear in mind the data only ...

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Research shows Michigan homes may be overvalued By La'Nita Brooks and Hannah Mose Published: Mar. 6, 2023

May 02, 2023

MICHIGAN (WNEM) - Research shows that homes in Michigan may be overvalued due to not taking climate change into consideration.Home values in 97 percent of U.S. cities are overvalued, and real estate in some of the most overpriced regions could fall by 10 percent over the next few years, according to Moody’s Analytics.“I think ...

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Mold in The Attic Causes & Remedies

April 30, 2023

Buying a HUD Property Number 4by Tom Nelson HUD Licensed Listing Broker (LLB)Mold in the Attic Causes & RemediesMore and more we hear about problems with mold.  There are many beliefs about mold.  These include how its formed, how dangerous it is, and most important; how to remediate it.First, we need to know what exactly mold ...

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Homebuyers Planning to Purchase in 2023 View Now as a Good Time to Buy

April 23, 2023

First-Time Homebuyers Maintain Optimistic Outlook Despite Uncertain EconomyRecent stydy from TD Bank Among those looking to purchase a home for the first time in 2023, 39% believe now is a good time to buy.  Many who have begun their process are also showing signs of preparedness with 48% starting to save for a downpayment.  Additionally 85% of ...

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Economical Upgrades to Increase Your Home’s Value

April 18, 2023

Whether you are looking to move now or may consider it in the future, there are many affordable options for making significant changes to your home without having to do a major renovation. With low-cost purchases of supplies, DIY instructions or professional guidance, and time set aside, you can make improvements that will increase your home’s resale value, ...

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Case Study: Property Renovation Management

April 18, 2023

Client: Institutional Real Estate Investment FirmThe ChallengeThis bank owned condominium in Chicago was in poor condition and being marketed as-is. After a few weeks on the market it was determined that most buyers did not want to remodel a unit in a building that had a strict homeowners association and that finding contactors willing to do the work ...

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Why a Home Inspection

April 17, 2023

 If you’re in the market for a new home, you may have come across the term “HUD home.” HUD stands for the U.S. Department of Housing and Urban Development, and a HUD home is a property that has been foreclosed upon and is now owned by the federal government. While HUD homes may offer ...

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FED RAISES RATES AGAIN

April 17, 2023

The Federal Reserve raised interest rates for the ninth time in a row on Wednesday, opting to continue its campaign against high inflation despite stress in the banking industry following the collapse of two regional banks.Fed policymakers voted unanimously to raise their benchmark interest rate by a quarter percentage point to just under 5%, which will make it ...

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Protecting Your Privacy

April 16, 2023

Knowledge is power. The reason you have decided to put your home on the market is the knowledge that can prove quite valuable to a potential buyer. Whether it is a divorce, death, debt, or other reason you need to sell, it is a private matter and the buyer's knowledge of it will reduce your power at the ...

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Don't Make A Promise of a Later Refi That You Can't Keep

April 16, 2023

As a real estate agent, a basic duty is to look out for the best interests of our clients.  We also want our clients to be happy, not just with the purchase they've made, but also with the service that we provide them.  Due to the recent trends in home buying, particularly higher interest rates, it ...

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Open House Eastpointe

April 16, 2023

Take a look at this Eastpointe brick ranch style home which features 3 bedrooms, open floor plan, large living room with picture window, beautiful finished basement with bar and half bath, 2 car detached garage,  spacious covered deck over looking fenced back yard!  Contact Jasan Hoyt @ 586-805-3785 for more information. ...

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Four Ways You Can Use Your Homes Equity

April 15, 2023

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years, you’ve likely gained more than you think.According to the latest Equity Insights Report ...

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Investor Series – Value Add

April 15, 2023

This is one of many articles we will be writing regarding investing in Real Estate.  Today we’ll be looking at something called “Value Add”.  What is it?  How does it work?Value Add is a common term in the investment lexicon and simply means an opportunity on an investment property to add value to ...

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