What a Government Shutdown Could Mean for the Real Estate Economy
September 28, 2023
The National Association of Realtors (NAR) has released a report detailing what a government shutdown would mean for the real estate industry . If Congress is unable to agree on the provisions of a Continuing Resolution (CR) to fund the federal government by September 30, 2023, the result will be a partial shutdown of some government operations.This partial shutdown ...
Value of FHA Mortgage
September 27, 2023
The Value of an FHA MortgageBy Tom Nelson, HUD LLB-Real Estate One-Rochester, MIBuying a HUD Property Series Number 7We all know that there are different kinds of government backed mortgage loans as well as banks and credit unions. These include conventional, FHA, VA, Fannie Mae, Freddie Mac, USDA and other lesser-known ones. The focus of this article ...
HUD Extension Procedure and Explanation
September 23, 2023
Contract Extension Policy and Procedure: The buyer must not let the contract expire, as it is a fatal event and HUD will cancel and not allow reinstatement. The buyer is required to process the extension request even if the delay is due to a title issue or other seller issue. All extensions are now done via DocuSign. ...
Make Your Home Roomba Safe
September 19, 2023
Robotic vacuum cleaners such as iRobot’s Roomba and Shark’s Ion Robot Vacuum make cleaning up around the house a lot easier. In most cases, these robotic vacuums run without issue and (depending on the model) may even empty themselves once they’re full. But there are some problems that your new Roomba might run into if you ...
Are You Using Videos? If Not You're Missing Out
September 16, 2023
They say a picture is worth a thousand words. However a video can be worth a thousand pictures. This is because videos can captivate the eyes and thoughts of your audience. A video is useful not only to advertise your listings but also you as an agent. Of course, the most common media to showcase your videos would be ...
Fall Chores For Outdoors
September 15, 2023
It’s that time again. Time to get things outside of your home ready for the fall. Here are a few things you can do now while the weather is still nice.1. Clean or replace your gutters. If they're clogged, you can end up with a flooded interior and damaged exterior. So clean them, and ...
Top 7 tips for 1st time Homebuyers
September 15, 2023
Here are some tips to prepare yourself in order to purchase your first home!Maintain your credit – pull your credit report and review for accuracy. If you see any errors or areas you need to work on, do that first before getting pre-approved with a lender.Nail down your budget – Beyond just what you can afford ...
Successful HUD purchase: Beyond following instructions
September 15, 2023
Agents who help clients successfully navigate the purchase of a HUD home know that it goes well beyond just following the instructions of how to place the bid, upload the proper documents, and follow the emailed instructions. There are many other factors to navigate along the way to help the process go smoothly and to make it to the ...
The three best home improvements you can make!
September 15, 2023
The three best home improvements that improve a home's value are:Kitchen remodelBathroom remodelCurb appealA kitchen remodel is one of the most expensive home improvement projects, but it is also one of the most rewarding. Buyers are willing to pay a premium for homes with updated kitchens that feature modern appliances, cabinets, and countertops.A bathroom remodel is another ...
Chicago-area home prices growing at twice the speed of the nation's.
September 14, 2023
Chicago-area home prices are growing twice as fast as the nation’s, two reports released this morning show. It’s the exact opposite of what was happening a year ago. The median price of homes sold in the nine-county Chicago metro area rose to $339,900 in August, up 9.6% from the same time a year ago, ...
Getting Home ready for fall!
September 13, 2023
Here are some tips to get your home ready for fall:Reprogram the thermostat to make your home ready for the colder weather.Clean your furnace and switch out your filters.Look for gaps and cracks in your insulation.Clean, inspect and prepare your fireplace.Switch to warmer bedding and clothes.Prepare your outdoor furniture.Insulate pipes to get your ...
What’s Happening With Home Prices This Fall? See the Cities Where They’re Rising—and Falling—the Most Now
September 13, 2023
By Evan WylogeSep 13, 2023There’s more to look forward to this fall than your favorite sweaters and pumpkin-flavored everything. The fall is a special time for homebuyers, as there are more homes for sale, list prices usually begin their seasonal dip, and there’s less competition from other home shoppers. In fact, it’s often the best ...
Little fixes add up to big rewards
September 13, 2023
If you are putting your home on the market soon, there are some things you can do to maximize the selling price. Not talking about a new kitchen here (although that would be nice! )How about a professional carpet clean if necessary, or touching up paint nicks and dings? Or you can pay someone to come and ...
Thinking About Selling Your Home? These Kitchen Improvements Might Be Worth Doing
September 12, 2023
When you sell your home, you want to sell it as quickly and profitably as possible. And sometimes, that means making some improvements before you start showing it to buyers—including improvements in the kitchen.But what kitchen improvements might make sense to do before listing your home?A article from realtor.com outlined the kitchen improvements you should ...
Mortgage Rate Forecast: When Will Rates Go Down?
September 12, 2023
https://money.usnews.com/loans/mortgages/mortgage-rate-forecastMortgage Rate Forecast: When Will Rates Go Down?-Why Mortgage Rates Are Expected to Stay High-Stubbornly high mortgage rates are a byproduct of the Fed’s battle to bring annual inflation back to its 2% target. The central bank raised the federal funds rate seven times in 2022 and another four times so far in 2023, with ...
3 Reasons Why You Might Want to Break the 5-Year Rule
September 10, 2023
3 Reasons Why You Might Want to Break the 5-Year RuleSome things get more valuable the longer you own them, and that is often true in realestate. This is why you’ll often hear experts talk about the 5-year rule, which is the ideathat new homeowners should stay put for at least 5 years before selling a home or ...
Local and State Programs for Home Buying Assistance
September 10, 2023
Buying your first home... You May Be Eligible For GrantsWhy Rent when you can Own? The main reason buyers postpone their homeownership dreams? Saving for a down payment. There are valuabe programs available to help today's buyers with down payment assistance programs. Many state and federal programs are available for first-time home ...
Housing Market Predictions For 2023: When Will Home Prices Be Affordable Again?
September 09, 2023
As temperatures continue to sizzle, the housing market continues to fizzle, with blisteringly high mortgage rates and scorching home prices becoming too hot to handle for many would-be home buyers.The national average 30-year fixed mortgage rate blasted through 7% in mid-August, reaching a 2023 high of 7.23%. As of September 7, the average 30-year fixed mortgage rate ...
Free well water testing now available for Michigan residents September 05, 2023 Sara Pearson Supervisor, Source Water Unit PearsonS@Michigan.gov
September 08, 2023
The Department of Environment, Great Lakes, and Energy (EGLE) is excited to announce a special program to help Michigan families know the quality of their well water. EGLE and local health departments (LHD) are working together to ensure that safe drinking water is a priority for Michigan families.Last year, the Michigan Legislature appropriated $5 million to provide free ...
4 Ways That You Can Use Your Home Equity
August 26, 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 ...
Exclusive Listing Period Priorities
August 24, 2023
A primary goal of HUD in selling HUD homes is to provide housing ownership opportunities to those who plan on being owner occupants. An owner occupant is defined as someone who intends to occupy the property as their primary residence for at least 12 months and has not purchased a HUD home, as an owner occupant in the past ...
Housing Market Predictions for 2023
August 23, 2023
When will home prices be afforable again?The national average 30-year fixed mortgage rate crossed the 7% mark in the third week of August, rising to 7.09% the week ending August 17.The median existing-home sales price also broke through $400,000 for the first time in 2023, hitting $410,200—the second-highest price ever recorded—and is ...
BAD STEPS-ONES YOU TAKE AND ONES YOU WALK ON
August 22, 2023
BAD STEPS-ONES YOU TAKE AND ONES YOU WALK ONBy Tom Nelson, LLB-Real Estate One-Rochester, MIBAD STEPS-ONES YOU TAKE AND ONES YOU WALK ONBy Tom Nelson, LLB-Real Estate One-Rochester, MIBuying a HUD Property Series Number 6When buying a HUD or any home, steps are important, but often overlooked.More than 1 million injuries are caused by stairway falls each year ...
FED RAISES RATE
August 16, 2023
The Federal Reserve raised its key interest rate Wednesday jULY 26TH for the 11th time in 17 months as part of its ongoing drive to curb inflation. But it provided little guidance about when — or whether — it might hike rates again.Wednesday’s move raised the Fed’s benchmark short-term rate from roughly 5.1% to 5....
Successfully Selling HUD Homes Seminar
August 15, 2023
Are you a seasoned agent who has sold lots of HUD Homes over the years, a brand new agent who has not sold any or somewhere in the middle? Then this class is for you. We can not stress enough how important it is to know the proper procedures to selling HUD Homes. Please join us ...
