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

Articles

BIDEN-HARRIS ADMINISTRATION’S PAVE TASK FORCE ANNOUNCES NEW ACTIONS TO ADDRESS APPRAISAL BIAS

June 06, 2023

HUD No. 23-107HUD Public Affairs(202) 708-0685FOR RELEASEThursdayJune 1, 2023WASHINGTON - Today, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE), co-chaired by U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge and White House Domestic Policy Advisor Neera Tanden, announced a set of meaningful actions to deliver on the PAVE Action Plan and ...

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Is a house that’s been sold multiple times in a few years cause for concern?

June 05, 2023

A house that changes hands frequently can be a red flag as it can indicate potential problems with the property, the neighborhood, or the market.  If you are faced with this situation,  have your agent investigate the reason the property keeps changing hands by reviewing public records and other documents to determine any outstanding issues.  But ...

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Selecting the right financing type

June 05, 2023

Selecting the right financing type.  It isnt enough to just get pre approved when you are ready to begin the buying process.  Different property conditions require different types of loans.If you are looking for a home that doesnt need any work, then consider FHA financing or a conventional loan.If the property needs a modest ...

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Home Inspections

June 02, 2023

Quick Takeaways on Home InspectionsA home inspection is a visual assessment of a home’s condition in which inspectors look for thousands of potential problems in areas of the home, including ceilings, walls, floors, windows, and doors. Homebuyers may want to accompany the inspector as they do their work. Inspectors can show potential homeowners where certain plumbing or ...

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Signs That You May Need a New Roof

May 23, 2023

We often take the roof above our heads for granted because we know it will protect us from the outside elements. Ultimately, we face the harsh reality that it will eventually age and need to be replaced. A worn and damaged roof can cause significant interior and exterior damage to your home if left unattended. Some roofs last longer ...

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Q1 Foreclosre Activity

May 17, 2023

Q1 2023 U.S. Foreclosure Market Report, which shows a total of 95,712 U.S. properties with a foreclosure filings during the first quarter of 2023, up 6 percent from the previous quarter and up 22 percent from a year ago.The report also shows a total of 36,617 U.S. properties with foreclosure filings in March ...

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Top 5 Ways To Improve Your Credit Score!

May 17, 2023

The health of your credit is more critical than ever.  Many credit-challenged people find themselves "frozen" when confronted with what to do. Here are the top five ways to improve your credit!1. Pay bills on time: Consistently paying your bills, including credit card bills, loans, and utilities, on time is one of the most effective ways ...

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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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Foreclosure Starts and Completions Down From April

May 15, 2023

ATTOM has released its April 2023 U.S. Foreclosure Market Report, showing a total of 32,977 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — were down 10% from last month but up 8% from a year ago.Illinois, Maryland, and New Jersey post highest foreclosure ratesNationwide one in every 4,234 ...

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5 COMMON MISTAKES FIRST-TIME HOMEBUYERS MAKE

May 15, 2023

 1: Spending more than you can afford – Before house shopping it is good to take a good look at your budget to see what type of payment you can comfortably afford each month.  A good rule of thumb is your mortgage payment shouldn’t be much more than 28% of your monthly gross income.2: Not ...

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3 Worst Home Buying Mistakes to Avoid

May 15, 2023

If this is your first home purchase, there’s a good chance you could use some guidance. Home buying is a big process, involving a lot of paperwork and plenty of pitfalls. Take a look at some of the biggest home buying missteps newbies often make. Don’t fall victim to these classic home buying mistakes.  Hire a ...

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Investor Series – The differences between rental lengths

May 15, 2023

This is one of many articles we will be writing regarding investing in Real Estate.  Today we’ll be looking at the difference between different rental lengths.  Short term rentals, Medium-term rental and Long-term rentals and the pros and cons for each.Short-term rentals are typically defined as stays of 30 days or less. They are often ...

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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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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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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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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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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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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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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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