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

HUD Articles

Illinois homes sales and median prices dropped in January

February 22, 2023

Statewide home sales and the median price of Illinois homes were lower in January 2023 than the previous year, according to data from Illinois REALTORS®.In January 2023, statewide home sales (including single-family homes and condominiums) of 6,723 homes sold was 35.3 percent lower than 10,385 sold in January 2022. The monthly median price of ...

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Existing home sales continue to decline in 2023

February 21, 2023

xisting home sales started 2023 right where they left off at the end of 2022, dropping for the 12th consecutive month. In January, the seasonally adjusted sales pace for existing homes dropped 0.7% from December to a pace of 4.00 million, according to a report from the National Association of Realtors (NAR) released Tuesday.On a yearly ...

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Get to know your Lender

February 21, 2023

Get to Know Your Lender!When buying a home, it is important to know about the different types of mortgages, and which one might be good for you.There is also an issue of which type of mortgage is best for certain homes.  Just because you may be qualified for an FHA loan, does not mean that the ...

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Buying an Older Home? Check for These 5 Things First

February 18, 2023

Buying an Older Home? Check for These 5 Things First The character, charm, and unique personality of older homes are undeniable—and just a few of the reasons why many home buyers can’t imagine moving into a new build. Older homes are also often constructed in prime locations with lower price tags than modern high rises. Purchasing an ...

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Ready to put a home on the market?

February 16, 2023

Are you getting ready to put a property on the market?  If so, a little bit of planning time now, will pay dividends this spring.  Start by looking at the exterior with fresh eyes.  Has winter made your home look dreary?  Get prepared to be out there sweeping up blown leaves, tidying up the ...

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Why Median Homes Sales Price Is Confusing Right Now

February 15, 2023

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if ...

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Investor Series – Househacking II – Taking advantage of the In-Law or ADU

February 15, 2023

This is one of many articles we will be writing regarding investing in Real Estate.  Today we’ll be looking at another form of househacking.  Looking for homes specifically with a dedicated in-law suite or Accessory Dwelling Unit (ADU).In-Law suites have been around forever.  The idea behind them is having a family member (usually elderly) ...

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"Is a HUD home Section 8?"

February 15, 2023

It may be surprising to some people, but as a listing broker, I have heard this question many times over the last twenty years. If you are reading this, I am here to tell you that these are two completely different types of transactions.Section 8 refers to the Housing Act of 1937. This is housing assistance for tenants ...

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Affordable housing a problem as demand continues to outstrip supply City Pulse, Sam Easter January 19, 2023

February 15, 2023

Kathy Birchen, an associate broker with Berkshire Hathaway Tomie Raines Realtors in East Lansing, has been selling houses for three decades. And the pandemic — which was marked by a widespread surge in demand and cheap credit — was a high-water mark for her career. “Two years ago, we were crescendoing into a real high, with lack ...

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Market Update & 2023 Predictions

February 15, 2023

Each quarter the Federal Housing Finance Agency (FHFA) releases home appreciation data that reflect changes to our regional markets or Metropolitan Statistical Areas (MSAs).  The third quarter data shows percent changes in the last year and over a 5-year range.In the past year, home prices in our area have increased: +0.45% in Dubuque; -0.66% in ...

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Spring has Sprung Tips

February 15, 2023

Spring has Sprung TipsSpring will be here before we know it and in some areas are starting to see the beginning of plants poking through the ground already!  In the metro area of Michigan, we’ve had an unusually mild winter and warmer temps for February, currently 52° as of this writing!  Here are some tips to ...

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Successfully Buying HUD Homes Seminar

February 15, 2023

There are currently 26 HUD Homes for sale in Michigan as of today.  Many in Oakland and Macomb County. This inventory has something for everyone! From small 2 bedroom ranch style homes to spacious colonial and a great condo! All with affordable price ranges and great locations!Buying a HUD Home can be a stressful experience if you ...

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Working With Out of State Investors? Here’s What Agents Need To Know

February 15, 2023

Let’s face it. Despite higher interest rates and increasing inventory, the price of real estate is still relatively high as compared to the pre-pandemic era. Add to that, many institutional sellers are still heavily focused on ‘owner occupant’ purchase of their special assets in an effort to promote home ownership. All of this makes it tough for ...

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Home Buying Checklist

February 14, 2023

Home Buying Checklist:1) Figure out what you can afford.2) Determine and Gather the Down Payment you will need.3) Decide on a lender and get pre-approved.4) Find a good Real Estate Agent.5) Begin viewing homes until you find the perfect home for you. ...

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Home Sales decreased for last 6 months

February 14, 2023

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Housing Market Predictions For 2023

February 14, 2023

Housing Market Predictions For 2023: When Will Home Prices Become Affordable?Robin RothsteinForbes Advisor StaffRachel WitkowskiEditorHousing Market Forecast for February 2023As we begin to move through 2023, housing experts maintain a watchful eye on the economy, which continues to be pulled in all directions by high inflation, steep interest rates, ongoing geopolitical uncertainties and recession fears, to name a ...

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Pre-approval vs. Pre-qualified

February 14, 2023

Get Pre-approved and not pre-qualified, why?A pre-approval is when a mortgage company has preliminary information about your ability to afford a particular mortgage and is willing to provide you with an estimate of what your monthly payment would be. This is not an offer to borrow money. A pre-qualified prospect means that the lender has enough information about ...

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Mortgage Rates Decline for Third Straight Week

February 14, 2023

Mortgage Rates Decline for Third Straight Week According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell last week from one week earlier. Rates were down for some fixed-rate loans with both conforming and jumbo balances and loans backed by the Federal Housing Administration.Joel Kan, MBA's vice president and deputy chief economist, says ...

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Home Prices Have Surged 42% in the Last 3 Years

February 13, 2023

February 9, 2023By: Melissa Dittmann TraceyA slowdown is now underway, says NAR Chief Economist Lawrence Yun. But don’t expect to see dramatic price drops.After three years of runaway home prices, buyers may soon find relief. In some markets, they may have already found it.The National Association of REALTORS®’ latest quarterly housing report shows that home ...

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Home Renovation on a Budget — You Got his!

February 13, 2023

Are you tired of looking at the drabby paint on your walls, the outdated cabinets, worn furniture, and stained carpets? Your home is overdue to be remodeled, which is on your wish list. However, you are afraid of what the cost might be. Unless you want a major overhaul, you can still spruce up your home and improve its ...

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Avoid These Common Home Buying Regrets

February 10, 2023

Buying a home is a big decision. And for some recent homeowners, that decision has led to some real regrets—aka “buyer’s remorse.”But what, exactly, is driving that remorse?A recent article from realtor.com outlined some of the most common regrets recent buyers have experienced after purchasing their homes, including:Unexpected repairs. Many recent ...

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MORTGAGE POINTS: WHAT ARE THEY, AND WHEN ARE THEY BENEFICIAL?

February 09, 2023

When interest rates increase, the monthly payment on a home can be significantly higher! But there's at least one way homebuyers can bring the rate down—for a price. What’s a mortgage point?In mortgage lending, the term “point” usually refers to an optional fee you can pay to reduce the interest rate on your ...

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Winter Home Maintenance Checklist: How to Prepare Your Home For Colder Weather

February 09, 2023

https://www.mymove.com/seasonal-maintenance/winter-home-maintenance-checklist/Winter Home Maintenance Checklist: How to Prepare Your Home For Colder WeatherWinter is coming, which means it’s time to start winterizing your home. Your winter home maintenance checklist will look a little different depending on whether you’re braving temperatures of 10 below or just unpacking a few light sweaters. But even if you’re not ...

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What is the Good Neighbor Next Door Program?

February 06, 2023

Do you think homeownership is out of reach? What if we told you that you could buy a home for half the cost of the listing price and a $100 down payment? You would likely say we’re crazy, but the fact is, buyers eligible for HUD’s Good Neighbor Next Door Program (GNND) can do just that. But ...

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Foreclosure Rates for All 50 States

February 06, 2023

Foreclosures drastically increased throughout the nation in 2022. With a total of 248,170 initiated, U.S. foreclosures rose a staggering 169 percent from the previous year.Foreclosure filings, which include scheduled auctions, default notices, and bank repossessions, also rose substantially in 2022. According to the experts at ATTOM Data Solutions, 324,237 properties filed for foreclosure last year, ...

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