Michigan State Housing Development Authority
September 09, 2022
MSHDA Your Best Way Home MSHDA’s Homeownership division provides a variety of programs and products for both homebuyers and homeowners. We can help if you’re trying to purchase a home, improve your current property or are facing foreclosure.Whether you are a first-time homebuyer or a seasoned veteran of the housing market, MSHDA has a mortgage product ...
Buying or Selling in the Next 12 Months: What You Need to Know Today
September 08, 2022
There are many different reasons you might be thinking about selling your home. Perhaps you want to downsize (or upsize), perhaps you want to take advantage of the market, or maybe you need to move to another area of the country for your company. Regardless of the reasons, there are many things to consider before you speak with a ...
Housing Affordability Conditions Weaken in September 2022 as Mortgage Rates Escalate
September 08, 2022
At the national level, housing affordability fell in September compared to the previous month, according to NAR's Housing Affordability Index. Compared to the prior month, the monthly mortgage payment increased by 8.0% while the median family income increased by 0.6%, making home buying less affordable in September. The monthly mortgage payment increased by $142 from last ...
Buyers wish list
September 06, 2022
Are there features that homebuyers dram about having? You bet there are! We all know that location and condition are the most important criteria, but after that, what are the features on a buyers dream wish list?Here they are in order of importance....Laundry Room, Exterior lighting, ceiling fans, energy rated windows, a patio, a side ...
'Further to fall': Housing downturn will worsen in 2023, Goldman Sachs predicts
September 06, 2022
SALT LAKE CITY — Researchers at the investment banking giant Goldman Sachs predict the U.S. housing market will close out 2022 on a low note, with dramatic drops in home sales and price growth.But it won't stop there. Next year will be worse.Housing market predictions: In a research paper titled "Housing Downturn: Further to ...
Negotiating and "bargaining chips"
August 31, 2022
Things to tell your seller when it comes to negotiating:As a seller, you can use extras as "bargaining chips". You may make counteroffers that include appliances and other incentives for the buyer to agree to a higher price. This is a particularly useful strategy when the demand for homes in your neighbourhood is weak and prices are ...
Exclusive Listing Period Priorities
August 31, 2022
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 ...
Be Alert to Early Signs of a Roof Leak
August 17, 2022
If you check your roof's condition at least annually, you should be able to plan for necessary repairs. Early signs of trouble include:Dark areas on ceilingsPeeling paint on the underside of roof overhangsDamp spots alongside fireplacesWater stains on pipes venting the water heater or furnaceFrom the outside, you can assess your roof's health by viewing it ...
City of Jackson now selling vacant lots for new home construction
August 16, 2022
Posted on: July 28, 2022 Residents and developers looking for space to construct new homes can now consider properties in the City of Jackson. The City’s Property Sales Program was recently expanded to include “buildable lots”. A buildable lot is a vacant lot or combination of properties that is large enough to accommodate the new ...
Michigan Fastest Growing Areas and Trends
August 15, 2022
There are 7 communities in Michigan that have seen a considerable rise in both home prices as well as population. 1: Rockford - This city has seen a 13.9% year-over-year growth rated. The home prices as compared to the same period a year ago are up 15.6%. The average sale price is $370,...
Consumer Confidence in the Housing Market Down
August 15, 2022
Consumer confidence in the housing market dropped to the lowest level since 2011, as both prospective buyers and sellers have become more pessimistic, according to a monthly survey released Monday by Fannie Mae.Just 17% of those surveyed in July said now is a good time to buy a home, down from 20% in June. Even more telling, however, ...
Late Summer Clean Up
August 15, 2022
Where did summer go? Between vacations, entertaining kids, and spending time with family and friends, your summer projects may have been put on the back burner. Here are some late summer home maintenance tips to tackle before the kids head back to school.Paint: When was the last time you touched up the paint on your home’s exterior? ...
6 ways to upgrade your outside space for under $100
August 15, 2022
1. Paint your front door2. Swinging chair or hammock.3. Upgrade your Wi-Fi to reach outside4. White noise of windchimes5. Upgrade outside accessories. New pillows, rug, solar lights and flowers.6. Add a refurbished mirrow to create and illusion of space or light-as mentioned on realtor.com...
Investor Series – Renting or leasing out a property to own
August 15, 2022
This is one of many articles we will be writing regarding investing in Real Estate. Today we’ll be looking at leasing or renting to own. How it works and the pros and cons.Renting out a home is a good way to get cash flow from a property. What happens when you want to sell ...
Case Study: Offer Negotiation and Sales
August 15, 2022
Client: Co-operative BoardThe ChallengeOur client, a co-op board for a 36-unit residential building in Chicago, was in default on their loan and was referred to us by their bank, who was also a long-term client or ours. The co-op, which had been established over 80 years ago, was comprised of many members that had inherited their interest in the ...
McHenry County, IL Housing Market 08/15/2022
August 15, 2022
In July 2022, the median listing home price in McHenry County, IL was $325K, trending up 16.1% year-over-year. The median listing home price per square foot was $158. The median home sold price was $300K. Median Listing Home Price vs. Median Home Sold PriceHomes in McHenry County, IL sold for approximately the asking price on average in July ...
Calming buyers fears
August 11, 2022
https://magazine.realtor/sales-and-marketing/feature/article/2022/07/talking-points-to-calm-consumers-housing-bubble-fears ...
2nd chance for Homebuyers interest rates dip
August 11, 2022
https://magazine.realtor/sales-and-marketing/feature/article/2022/07/talking-points-to-calm-consumers-housing-bubble-fears ...
4 Reasons Why You Should Buy A Home Before School Starts
August 11, 2022
https://www.elend.com/2019/07/26/4-reasons-why-you-should-buy-a-home-before-school-starts/4 Reasons Why You Should Buy A Home Before School StartsIt’s no secret that the market is sizzling in the summertime. The longer days and warmer temperatures have buyers out and about, so sellers are smart to take advantage (reversely, many buyers shy away from this time of year to avoid the competition). But buyers also ...
Updated Illinois Smoke Alarm Law
August 10, 2022
What is the Updated Illinois Smoke Alarm Law?Since 1988, all dwellings in Illinois have been required to have smoke alarms.In 2017, Public Act 200 was passed to update the Illinois Smoke Detector Act to reflect advances in technology.Come January 1, 2023, single and multi-family homes that are still using smoke alarms with removable batteries are required ...
Illinois leads the nation in foreclosures in 2022
August 10, 2022
Illinois homeowners are most likely in the nation to be in foreclosure. The looming $2,100 property tax hike from Amendment 1 would make housing even more unaffordable.Illinois experienced over 14,000 foreclosures in the first six months of 2022, the highest rate in the nation.One in every 385 housing units – or about 0.26% of ...
What is an AS IS sale?
August 10, 2022
An AS IS sale typically means that the seller is not willing to make any repairs to the property or renegotiate the sales price due to repairs. This includes any repairs that are discovered during inspections or are required for appraisal. The property is being sold in its current condition. This type of sale is usually used with bank ...
TOP TIPS FOR BUYERS
August 10, 2022
TOP TIPS FOR BUYERS: 1) Take Time to get Preapproved.-Getting fully qualified beforehand makes a seller more confident in your offer and increases your odds of acceptance. 2) Consider a Fixer Upper.-Many buyers are seeking move-in ready homes. However, in an environment with low inventory, considering a home that needs minor cosmetic repairs may be ...
When Will Home Prices Come Down?
August 09, 2022
As the market continues to shift, more and more questions are being asked about how home prices will behave in the coming months. Will home prices continue to rise, or will they finally start to come down? If you’ve been interested in selling your home and/or buying a new one but have been intimidated by the fast-moving market, ...
Tips for Your Basement Remodel
August 09, 2022
Having a finished basement is a great addition for just about any house. It can give you a place to relax, a play area for your children, or even additional bedroom space if you need it. Some people even use basement areas to create fully furnished workshops, craft rooms, and other furnished DIY areas so they’ll have comfortable ...
