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

HUD Articles

Don't Be Trapped in Rising Rental Rates in 2023

January 05, 2023

As a renter, you are forced to decide each year:  should you renew your lease, find another lease or buy a home?  According to Realtor.com, 74% of renters who have moved the past year saw a rent increase.  In fact, 63% of renters who lived at their current place for 1-2 years also reported a rent ...

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Lower Inflation Portends Further Slide in Mortgage Rates

January 04, 2023

Inflation has been dropping over the past six months, and consumers can expect mortgage rates to soon follow, says Lawrence Yun, chief economist for the National Association of REALTORS®. The 30-year fixed-rate mortgage could even drop below 6%, Yun adds. That would be welcome news to home buyers who were shell-shocked by the surge in rates above 7% this ...

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Mortgage Delinquencies Top 3%, Foreclosure Starts Up 19% Month-Over-Month

January 04, 2023

 Black Knight’s “first look” at November 2022 mortgage performance statistics revealed that prepayment activity dropped 15.6% to a rate of 0.4%, the lowest rate recorded in the history of the report. Overall, the national delinquency rate rose 3.5% from October 2022 to a rate of 3.01%, mainly driven by a 31,...

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The Exchange: The Way Forward

December 29, 2022

Prior to joining the Fed in 2007, Larry Cordell worked in the mortgage industry at Radian Group and Freddie Mac. Upon joining the Fed, Cordell was a special advisor during the financial crisis and focused on several key Federal Reserve System initiatives, including the conservatorship of Fannie Mae and Freddie Mac, the Supervisory Capital Assessment Program (SCAP), and the ...

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Who Pays for Pest Inspections for FHA Loans?

December 22, 2022

Who Pays for Pest Inspections for FHA Loans?Evidence of termites and other wood-destroying pests can bring a home sale transaction to an abrupt halt. These pests typically go undetected for long periods of time and can undermine the structure of a house so homebuyers are justifiably anxious to have the home inspected before closing on the purchase.Common ...

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Winter Home Selling Tips

December 18, 2022

Winter is upon us in Michigan! Here are some things to remember when selling your home this time of year...1. Keeps driveways and walks clear of snow and salted for safety2. Have exterior lights working for evening showings3. Provide a rug and shoe covers to keep buyers from tracking in your house4. If your home is vacant keep ...

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AVOIDING FINANCIAL STRESS

December 18, 2022

By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money.It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages ...

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Strategies that can help you lower your mortgage rate

December 17, 2022

Two days ago the federal reserve raised interest rates for the 7th time this year. The Federal Funds Rate was 0.25% in March 2022 and now it is 4.50%. If you are in the market to purchase a home, below is a list of homebuying strategies that can help you lower your mortgage rate.Buying down ...

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Downtown Jackson’s social district may actually happen next year after council’s OK • Published: Dec. 14, 2022 MLive Chloe Miller

December 15, 2022

JACKSON, MI – After more than a year of conversations and waiting, downtown Jackson’s social district is finally preparing to launch next spring.In its Tuesday, Dec. 13 meeting, the Jackson City Council unanimously approved allowing the district to continue. And it approved eight bars and restaurants to participate when the social district launches some time in spring ...

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Investor Series – Hard Money Lending

December 15, 2022

This is another submission in our ongoing series of investor articles.   Today we’re going to talk about Hard Money Lending.Hard Money lending is typically dealing with the private sector for funding.   These lenders are wealthy individuals or groups who have large sums of cash available for loans on investor projects.   They ...

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2023 Housing Market Predictions

December 15, 2022

As the year comes to a close it's a good time to predict real estate for the next year!  While is some parts of the county home prices are beginning to be idle, increased worry is being felt throughout the market by both potential Sellers and Buyers. Currently a 30-yr fixed Conventional mortgage is at 6....

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HUD Contract Terms Explained

December 15, 2022

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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Winter Ready your home

December 15, 2022

Prepping your home for winter is a MUST in the Midwest. A few things to help you and your home thru the winter.  -Have your furnace serviced.  New filters and clean components will help your furnace run smoothly thru the winter months.  -Check and or replace your batteries in your smoke detectors, carbon monoxide detectors and ...

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OCTOBER ILLINOIS HOME SALES

December 15, 2022

Existing home salesMedian prices and interest rates rose as inventory tightened and homes sold quickly in October.The median price of Illinois homes sold in October 2022 rose in comparison to October 2021 – as year-over-year inventory decreased, according to data from Illinois REALTORS®. The average Illinois home sold in 28 days in October 2022, the same as in ...

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Be Prepared For Michigan Winters

December 15, 2022

It’s December in Michigan.  This mean lots of Holiday celebrations, family get togethers and office parties.  It also means Michigan weather, while we have been lucky so far this year, we all know it is coming.  Here are a few tips to prepare your home for the upcoming winter.Prepare for bad weather. If ...

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Housing Markets Best to Hold up in 2023 Top 10

December 14, 2022

Redfin predicts home sales will fall drastically throughout most of the country in 2023, with existing home sales likely declining 31% year over year in the first quarter followed by smaller declines in the second and third quarters. By the fourth quarter, existing home sales will be flat from the year prior, and then start recovering as rates fall ...

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Chicago Real Estate Market: Prices, Trends, Forecast 2022-2023

December 14, 2022

December 12, 2022 By Marco SantarelliWe'll discuss the latest trends and projections for the Chicago housing market. Is the Chicago-area housing market vulnerable to a recession? Home prices are expected to decline slightly over the next twelve months but the forecast for the fourth quarter of 2022 is still positive (+4.5%). The forecasts also indicate positive annual ...

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6 Reasons to Buy a Home in the Winter!

December 13, 2022

6 Reasons to Buy a Home in the Winter! 1) There is Less Competition.2)  Sellers are movtivated.3)  See home in colder conditions to learn things you don't see in other seasons like drafty windows and how well insulated.4)  Moving company availabilty is usually better.5)  Possible Last Minute Tax Savings.6)  Close faster since ...

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Why you might not want to get too excited or nervous about a housing crash

December 13, 2022

Rising interest rates and slightly lower demand in the market has caused many people to believe that a housing crash is imminent.  Despite some signs that the market is slowing down, you shouldn't get too worried or excited about the possibility of a housing crash....

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Hope for Turnaround After Contract Signings Fall Again

December 12, 2022

November 30, 2022By: Melissa Dittmann TraceyPending home sales continued to fall in October as higher mortgage rates shook buyer confidence. Read more from NAR’s latest home sales report.Pending home sales fell for the fifth consecutive month in October as rising mortgage rates brought many housing markets to a halt. But now that rates show signs of stabilizing, ...

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Save the Veterans on Homebuying

December 12, 2022

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U.S. Foreclosure Completions Increase Annually By 64 Percent In November 2022

December 09, 2022

Foreclosure Activity Remains Up 57 Percent from Last Year, and Foreclosure Starts Increase Annually by 98 Percent; But Both Measures Down from October 2022IRVINE, Calif. — Dec. 8, 2022 — ATTOM, a leading curator of real estate data nationwide for land and property data,  today released its November 2022 U.S. Foreclosure Market Report, which shows there ...

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Sprucing House Up 2023

December 09, 2022

https://www.thespruce.com/2023-design-trends-6743803The 2023 Design Trends We Already Have Our Eyes On!!It might seem early to start looking at 2023 trends, but if there’s anything we’ve learned from talking to designers and trend forecasters, the best way you can keep your space feeling fresh is by planning ahead.We recently connected with some of our favorite ...

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How to Prepare Your Home for the Season

December 09, 2022

If you're preparing your home for fall and winter, you're probably looking forward to family gatherings and other holiday fun. However, you may run into seasonal challenges if you also plan on selling your home during this busy time. Distracted buyers, home staging issues, and the end of daylight savings time offer prime examples.Are you preparing ...

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Mortgage rates see largest monthly drop since 2008

December 08, 2022

Mortgage rates have fallen every week for the past month, with the average rate on the 30-year fixed mortgage retreating further to 6.65%. Borrowing costs dipped across all fixed-rate mortgage products, including FHA loans, VA loans and 30-year jumbo loans. Meanwhile, adjustable mortgage rates stayed relatively stagnant.Here are the current average mortgage rates, without discount points unless ...

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