New Study on Housing Shortage
June 13, 2023
According to a recent study completed by NAR and realtor.com there is a shortage of more than 300,000 homes in the pricing point the middle-income buyers can afford. The current housing market is short about 300,000 homes in the listing price range up to 256K which according to Housing Affordability & Supply report is considered the ...
Michigan Real Estate News and the Country
April 14, 2023
As in most areas of the county the real estate market has been up and down the last few years with values appreciated in most cities. Per Redfin in Michigan home prices have fallen .06% year-over-year in February 2023. The number of homes that sold also fell by 12.6% and the number of homes for ...
There’s Good News and Bad News for Single Women Who Buy a House (But the Bad News Can Be Avoided…)
April 12, 2023
The good news for single women is that they outpace single men in terms of homeownership. According to the National Association of Realtors, as of February 2023, single women were 17% of all homeowners, while only 9% of single men own a home.The bad news is that single women don’t get as good of a return ...
HUD Commemorates National Fair Housing Month 2023 and the 55th Anniversary of the Signing of the Fair Housing Act
April 07, 2023
HUD No. 23-069HUD Public Affairs(202) 708-0685FOR RELEASEMondayApril 3, 2023WASHINGTON - Today, the U.S. Department of Housing and Urban Development (HUD) kicked off Fair Housing Month 2023, commemorating 55 years since the Fair Housing Act was signed into law. This year’s Fair Housing Month theme, Choices for All Voices: Building an Equitable Future, underscores the Biden-Harris Administration’...
Avoid These Common Home Buying Regrets
February 10, 2023
Buying a home is a big decision. And for some recent homeowners, that decision has led to some real regrets—aka “buyer’s remorse.”But what, exactly, is driving that remorse?A recent article from realtor.com outlined some of the most common regrets recent buyers have experienced after purchasing their homes, including:Unexpected repairs. Many recent ...
Real Estate Trends 2023
January 12, 2023
The demand for mortgages as compared to a year ago is down 41% and the refinance is also down 84%. At the same time housing prices are higher than the same period a year ago. According to Forbes.com experts believe the rates will continue to climb overall while some areas might see a decline in prices....
2022 Lenawee County, Michigan, Year End Review
January 09, 2023
We are excited to begin 2023 with a year end review of 2022 of home sales in Lenawee County, Michigan. Through a hot market, covid precautions, and many new challenges presented last year, we managed to thrive! We are looking forward to 2023 and what it may bring, but let's take time to reflect on last year'...
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....
5 Tips for Keeping Your Heating System
November 14, 2022
During those colder months it’s important to make sure your heating system is running as effectively as possible! Here are some tips that will help do that from the outside to inside of your home.Keep equipment clear of debrisRemove any dead leaves or sticks present that may be blocking fansWhen blocked it limits airflow and decreases ...
Will I Be Able to Afford More House Next Year Than I Can Right Now?
October 10, 2022
When should you buy a home in the current market? There's no doubt this market is confusing, with one expert recommending selling now to get peak value for a home and others saying to wait for the market to correct. If you're buying, your perspective is much different. You want to save money but still have your ...
Housing Bubble losing air at an Accelerating Pace
July 14, 2022
According to the article published by Shiffgold.com pending home sales have dropped significantly as well the inventory of homes on the market rose as the interest rates on mortgage rose as well. As compared to the same period one year ago the sales dropped by 16% for the month of June. May also dropped by 12% ...
FEDERAL HOUSING ADMINISTRATION EXPANDS MORTGAGE ELIGIBILITY FOR BORROWERS PREVIOUSLY AFFECTED BY COVID-19
July 11, 2022
HUD No. 22-129HUD Public Affairs(202) 708-0685FOR RELEASEThursdayJuly 7, 2022FEDERAL HOUSING ADMINISTRATION EXPANDS MORTGAGE ELIGIBILITY FOR BORROWERS PREVIOUSLY AFFECTED BY COVID-19Updated guidance issued today provides new flexibility for lenders when calculating “effective income” for borrowers with previous employment gaps or loss of income due to a COVID-19 economic event.WASHINGTON, D.C. - The Federal Housing Administration (FHA) announced ...
Extremely Delinquent Mortgagors Struggling to Recover
May 13, 2022
Extremely Delinquent Mortgagors Struggling to RecoverThe nation’s delinquency rate in the U.S. in Feb 2022 hit its lowest recorded point since January 1999 according to CoreLogic. In February 2022 it is report that some of 3.2% of all mortgages in the country were in some stage of delinquency. This is defined as being at ...
Extremely Delinquent Mortgagors Struggling to Recover
May 13, 2022
Extremely Delinquent Mortgagors Struggling to RecoverThe nation’s delinquency rate in the U.S. in Feb 2022 hit its lowest recorded point since January 1999 according to CoreLogic. In February 2022 it is report that some of 3.2% of all mortgages in the country were in some stage of delinquency. This is defined as being at ...
Year End 2021 Real Estate News
December 14, 2021
As the year comes to an end for 2021, the average homeowner has continued to gain home equity as home prices have seen a record growth level in more than four decades. Per Corelogic reports, between the end of 2020 and now 2021 the average home gained about $57,000 in equity. The average sale price ...
Will Home Prices and Rents Finally Fall? Our Bold Predictions on What’ll Happen in Real Estate, 2022
December 01, 2021
Here’s what we already know: Since the COVID-19 pandemic began, the real estate market has been on a wild ride of unprecedented highs and lows—record-high home prices on one side, record-low mortgage rates and available homes for sale on the other. It’s been a time of overwhelming stress for many, gigantic profits for some, and great ...
Will Home Prices and Rents Finally Fall? Our Bold Predictions on What’ll Happen in Real Estate, 2022
December 01, 2021
Here’s what we already know: Since the COVID-19 pandemic began, the real estate market has been on a wild ride of unprecedented highs and lows—record-high home prices on one side, record-low mortgage rates and available homes for sale on the other. It’s been a time of overwhelming stress for many, gigantic profits for some, and great ...
HUD AWARDS $36 MILLION TO BOOST LOCAL ECONOMIC DEVELOPMENT AND AFFORDABLE HOUSING PROGRAMS
November 11, 2021
HUD No. 21-184HUD Public Affairs(202) 708-0685FOR RELEASETuesdayNovember 9, 2021 WASHINGTON - More than 250 communities across the country will be able to increase the economic impact of their local community development and affordable housing programs for low- and moderate-income persons through $36 million in "capacity-building" grants awarded by the U.S. Department of Housing and Urban Development (HUD). ...
10 BENEFITS OF SELLING BY AUTIONS!!!
September 16, 2021
10 BENEFITS OF SELLING BY AUTIONS!!!1. eliminates prolonged negotiations.2. creates a sense of urgency amongst buyers.3. exposes property to targeted potential buyers.4 sells property within a relatively short period of time.5. assures property will be sold at true market value.6. seller establishes the terms of the sale prior to the auction.7. the ...
Buying Vs. Renting Your home
September 15, 2021
Is now the right time for you to buy a home? You have many options to consider and choices to make. Buying a home is a big responsibility, financially and emotionally, but, most people want to own a home. Homeownership often is referred to as "The American Dream." Why is it so special? Among the reasons: Real ...
How the Moratorium’s End is Affecting Foreclosure Activity
September 13, 2021
Housing professionals have long been anticipating the response to the July 31 expiration of the federal moratorium on foreclosures. With August numbers coming in, analysts say there has indeed been a rise in foreclosure activity, but they do not expect a large influx. Borrowers across the nation collectively have record levels of home equity, and the sellers' market is ...
Millennials are looking for dream homes, but Michigan’s competitive housing market keeps them out of reach
September 07, 2021
A promotion, a pay raise and a 30th birthday all felt like the right time for St. Clair Shores resident Justin Donoghue to purchase his first home.As he enters his seventh month of house hunting, he’s been outbid five times.“It’s just been really disheartening to fall in love with a home, write my cutesy ...
Home Prices Are Soaring. Is That the Fed's Problem?
August 12, 2021
Robert S. Kaplan, the president of the Federal Reserve Bank of Dallas, has been nervously eyeing the housing market as he ponders the path ahead for monetary policy. Home prices are rising at a double-digit pace this year. The typical house in and around the city he calls home sold for $306,031 in June of this year, Zillow ...
How To Improve Your Credit Score To Help Secure a Home Loan
July 16, 2021
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TOP 5 QUESTIONS I’M ASKED AS A REAL ESTATE PROFESSIONAL
July 15, 2021
TOP 5 QUESTIONS I’M ASKED AS A REAL ESTATE PROFESSIONAL 1: How Much Do Real Estate Agents Charge? Typically, you aren’t paying a real estate agent to help you find your dream home. A home seller pays their real estate agent a percentage of the home sale price, and that agent pays the buyer’s ...
