Benefits of a Home Inspection
April 15, 2024
With home prices and interests rates so high, buyers are looking to save money anyway they can. Unfortunately, some are passing on home inspection to do so. Here are a few benefits the buyer might want to consider before passing on that home inspection.1. Identify potential safety risksWhen looking to buy a home, it is unlikely ...
It's Tax Day! Tax-Deductible Home Improvements
April 15, 2024
Tax-Deductible Home ImprovementsNearly a quarter of homeowners say they’re planning major renovations this year, and some of those projects may be eligible for a tax deduction. This could help alleviate some of the high costs of homeownership. The Internal Revenue Service (IRS) has announced seven types of tax deductions for home improvements. These include deductions for ...
Buyers Spring Buying Tips!
April 13, 2024
Buyers Spring Buying Tips:1) See how much you can afford. Get with a lender to get Preapproved. 2) Look for Price reductions with website filters3) Determine what your must haves are for home search criteria.4) Access and strengthen your finances to best position yourself for making an offer.5) Find a Realtor you trust to help ...
Real estate expert explains how housing problems are getting worse
April 12, 2024
Published April 11, 2024By Alicia Warren FOXBusinessFirst-time homebuyers are likely to face more industry headwinds as mortgage rates and homeownership costs skyrocket in today’s economy.Mitch Roschelle, managing director at Madison Ventures+, said "it couldn’t be a worse time of year" as mortgage rates hit their highest level since November. "The timing is awful,...
Build Your Home With Renewable Options
April 12, 2024
In the world of new single-family homes, there's a cool shift happening: builders are using renewable materials more than ever! Take bamboo, for instance. This stuff grows super fast and is as tough as traditional hardwoods, making it a prime choice for eco-friendly building without sacrificing style or durability.Then there's recycled steel, which is helping keep ...
Changes to real estate commissions expected to take effect in July Story by Gina Joseph, The Macomb Daily, Mount Clemens, Mich
April 11, 2024
Apr. 7—The National Association of Realtors has agreed to make some policy changes in order to settle multiple class-action lawsuits brought on behalf of home sellers across the United States, in addition to paying $418 million over four years.However, that which has brought an end to litigation has stirred up questions and considerable uncertainty in an industry ...
How Much House Can I Afford?
April 10, 2024
How to Calculate How Much House You Can AffordIf you want to dig a little deeper on how much house you can afford and get into some of the more nitty-gritty details, I’ve got you covered. We’re going to go over all the numbers step by step. (Don’t worry if math isn’t your thing—I ...
5 Things to Watch for While Touring Homes
April 09, 2024
When embarking on the exciting journey of buying a home, it's crucial to be well-prepared and knowledgeable about the process. One of the most important steps in purchasing a home is touring potential properties. This is your opportunity to see if a house matches your needs and preferences. To make the most of your home tours, here are ...
Spring Clean Up!
April 08, 2024
Spring has sprung in Michigan!!! Here are some tips for spring cleaning your home this spring...-Change smoke alarm batteries-Change furnace and dehumidifier filters- Clean your gutters and downspouts-Clean any remaining leaves from around your yard and house-Powerwash your house and wash window exteriors-Spray for pests- Treat your lawn if needed- Pull out patio furniture and outdoor items-Declutter interior ...
Is McHenry County, IL a buyer’s or seller’s market?
April 08, 2024
Median Sold Price$319,934$169/sqftBased on all homes sold in the last 12 months.Difference Since March 2023+$20,277(+6.8%)Key TakeawayHomes in McHenry County have sold for 6.8% more than they did a year ago.Summary: The median home sold price in McHenry County was $319,934 in March 2024, up 6.8% from last year, and the median ...
Credit scores and the home buying public
April 04, 2024
Credit scores and the home buying publicIn order to successfully purchase a home, credit scores are an important part of the process. Lenders will review your scores to see if you make on time payments and pay back your debts. A good credit score may help determine your mortgage rate, too.While credit scores arent the only ...
HONEY, I SHRUNK THE HOUSE
April 03, 2024
Newly-built homes reached their smallest median size in 13 years, NAHB reports.What’s the ultimate hack to afford a home in today’s over-inflated market? According to the National Association of Home Builders (NAHB), buyers are looking for smaller homes that come with smaller price tags. Builders are responding accordingly; an NAHB analysis found that new homes built ...
Home Insurance Vs Home Warranty
April 03, 2024
Home Insurance Vs. Home WarrantyHome Insurance is a policy your lender will require if you obtain a loan. This policy covers damages to your home such as roof damage due to a fallen tree, fire ect..Home Warranty is a policy that will cover those unexpected expenses for roof leaks, appliance failure, maybe your water heater has stopped ...
7 Great Reasons to Own A Home
April 03, 2024
1. Appreciation. Historically, real estate has had long-term, stable growth in value and served as a good hedge against inflation. Census data shows the median price of a home jumped from $172,900 in Q4 2000 to $417,700 in Q4 2023. That's greater than 6% appreciation per year on average.2. Equity. Money paid for ...
Redefining Homeownership: The Rise of Single Women Buyers in Real Estate
April 02, 2024
In recent years, there has been a notable shift in the landscape of homebuyers, with single women emerging as a significant demographic. According to the National Association of Realtors, 19% of all homebuyers are single women, while only 10% are single men. This trend underscores the changing dynamics of the real estate market and highlights the unique considerations and ...
Governor Whitmer’s Work to Invest in Affordable & Attainable Housing
April 02, 2024
Released Michigan’s first Statewide Housing Plan, outlining goals and strategies to tackle the state’s affordable and attainable housing crisis. · In her 2024 State of the State Address, she announced that the State of Michigan will make the largest investment to build housing in Michigan history, nearly $1.4 billion to build or ...
How To Prevent Spring Flooding
April 01, 2024
April showers bring May flowers. But sometimes heavy downpours can bring unwanted surprises, like roof leaks or water in your basement. Not to worry. These smart steps can help prevent water damage in the spring.How to Prevent Springtime Water DamageKeep your home protected when the spring rain hits by going over your home's interior and exterior.Groom ...
Your Credit Score
March 27, 2024
The importance of good credit is a fact of life. Banks and credit card companies decide if they should lend you money and what interest rates you will pay based on your credit score. Know your credit score and what it means to banks and credit card companies and your future. The decisions you make ...
Does HUD counter buyer's offers?
March 16, 2024
This note will clarify, HUD’s “counter offer” to a bid. In this process, HUD informs you of the “net” required and give you a chance (but not an exclusive one) to make a new offer along with any other bidders. This is not the same as traditional real estate, as HUD is accepting other ...
Spring Maintenance Tips
March 15, 2024
The days are getting longer, and Spring is in the air, making it the perfect time to check on the state of things in and around the house. Here are a few maintenance tips for spring.1. Inspect Your RoofAt the top of our list is a roof inspection. Although everything may look great from the ground, there ...
Mortgage Rates Just Dropped—and So Have Home Prices. Is This the Start of a ‘Sustainable Trend’?
March 15, 2024
By Margaret HeidenryMar 14, 2024The unpredictable mortgage rate ride continued this week—and landed in a positive place.The average rate for a 30-year fixed home loan ticked down from 6.88% to 6.74% for the week ending March 14, according to Freddie Mac.“The 30-year fixed-rate mortgage decreased again this week, with declines totaling almost a ...
Home Prices Continue to Rise
March 15, 2024
The Federal Housing Finance Agency published the 2023 Q3 Housing Price Index report and national data shows home prices rose in October, up 0.3% from September. House prices rose 6.3% from October 2022 to October 2023. The previously reported 0.6% price increase in September was revised to a 0.7% increase. The five-year home appreciation ...
Speculation investing in Real Estate - The Pros and Cons
March 15, 2024
Speculation buying in real estate can be tempting. The idea of scooping up a property, waiting for its value to skyrocket, and then selling for a hefty profit is undeniably appealing. But is it a sound strategy? Before you dive headfirst into the world of speculative real estate, it's crucial to understand both the potential rewards and the ...
Mortgage Rates Tumble For The Second Week in A Row
March 15, 2024
Mortgage rates dropped for the second week in a row, falling nearly a quarter of a percentage point over the past two weeks in the face of stronger-than-expected employment and inflation data.The 30-year fixed-rate mortgage averaged 6.74% in the week ending March 14, down from 6.88% the previous week, according to data from Freddie Mac released ...
6 Tips to Sell Your Home Fast
March 14, 2024
6 Tips to Sell Your Home Fast 1. Find the Right Real Estate AgentIf you want to sell your home fast, the first step is to hire a real estate agent. The ideal person will know the local market and have a sales record that proves they know how to sell. Keep in mind the seller is often responsible ...
