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Home Buying in Bloomfield : Real Estate Advice

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  • Local Info1
  • Home Buying3
  • Home Selling2
  • Market Conditions0

Activity 18
Wed Mar 11, 2015
Renate Debler answered:
The market is not likely to drop. In fact, the market is improving. There are less short sales than last year and January sales this year had median prices increasing 8%. Increases are expected for the next 3-5 years as we are still not back to their peak from 2005.
With regard to the house you found, technically since she was enlisted as your agent during this time, she is entitled to the commission. The commission for this possible Spring sale as you are aware, is paid by the sellers, not you as buyers, so you are not paying out. Good luck with your purchase. I hope the home is still available for you.

I wanted to mention though, that if the home was priced too high, it may go lower this time. Agents can do a market analysis for you to give you a very good idea of what prices the homes are selling at in the area you are looking
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Wed Mar 11, 2015
Renate Debler answered:
The best way to find out who owns the home is to go to the Tax Assessor's office. It is often also available online. You can find out if the taxes have bee paid or not. Once you find the owners you can
contact them by letter or phone call to see if they are willing to sell. If the taxes have not been paid for numerous year, the house will be foreclosed and you may work with a realtor to purchase the property. This is a lengthy process, but with patience, they can work.
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0 votes 3 answers Share Flag
Fri Feb 20, 2015
Ron Dwyer answered:
Sold Date: 01/03/14 Sold Price: $190,000 3rd Party Appr: No Finance Code: CONV Sale
are you still looking www.dwyerproperties.com give me a call
0 votes 2 answers Share Flag
Sun Oct 20, 2013
Amanda Christiansen answered:
Yes. A buyer/seller can rescind an offer or a counter as long as the other party hasn't officially signed anything yet. Good luck!
0 votes 5 answers Share Flag
Fri Jan 11, 2013
Pam Bava answered:
No they are not, you have to get all of your questions answered and if you did not know about this before the offer was agreed upon, you may want to consult an attorney. Alsom go to the city offices check out the property there. Be sure of he facts before making your final decision.

Good luck
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0 votes 1 answer Share Flag
Sun Jun 24, 2012
Karen Paytas answered:
"B",

Good Morning!! As long as you can qualify for a mortgage (income and debts) you are eligible for a Homepath loan. Our fair housing laws do not allow you to be discriminated against for being on disability.

Good Luck,

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
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0 votes 1 answer Share Flag
Sat May 12, 2012
Mark Mergener answered:
I think the more important question may be, "Can you help me find the right house?" If you have a specific need for a particuloar kind of home in a specific are at a given price range, you may do well to seek out an agent to assist you as a "Buyer's agent"!

To that end you should be looking for an agent to do just that for you, rather than finding an agent with a specific listing. Keep in mind the agent with the property listing is representing the seller, not the Buyer.

If I can help, let me know!

Mark T. Mergener
Cell (248) 935-0335
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0 votes 2 answers Share Flag
Tue Aug 30, 2011
Carolyn Stieger, ASPM, RESA-PRO, NASMM, CRTS, RESA, IAHSP answered:
Arteva Homes, Inc build quality custom homes. They pay attention to every detail whether building custom homes or condos. Contact Arteva Homes at 248-642-7826 located at 1668 Telegraph Road, Suite L-150 Bloomfield Hills, MI 48302

I have worked with Arteva Homes on several of their projects in the Birmingham and Davison areas. I have seen the quality and attention to detail during construction.
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0 votes 4 answers Share Flag
Fri Aug 26, 2011
Rich Bennett answered:
Hi Allen,

The best thing to do is to consult with a contractor to determine a rough cost. With an existing basement there, you'll definitely want to talk to an expert.

Thanks.

Rich Bennett, Realtor
415.305.4911

Zephyr Real Estate
DRE#01358540
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1 vote 1 answer Share Flag
Sun Aug 21, 2011
Karen Paytas answered:
Huntington Bank
Ross Mortgage
Michigan Tech Employees Federal Credit Union
www.mtefcu.org/loans-visa/home-loans/construction-loans/

Good Luck,

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
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0 votes 1 answer Share Flag
Sat Aug 20, 2011
Ron Thomas answered:
To start with, you do business with builder who has a reputation to protect.

Secondly, I have seen a detail/accessory sheet.

Thirdly, you are monitoring the procress on a daily basis, right? ... more
0 votes 1 answer Share Flag
Sun May 29, 2011
Terri Vellios answered:
You are 2000 miles away. I hope that your agent has suggested that you get inspections, property, roof, pest, and anything which is a local issue. You should be receiving disclosures as well.

Good Luck.
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0 votes 4 answers Share Flag
Tue Sep 14, 2010
Christina Phillips answered:
DearRavichopra,

I am so sorry to hear about your misfortune with these agents. I would go to the manager/broker of the office and lodge your complaint. Real estate agents rely heavily on referrals so a bad referral can really hurt their business. With no business they are out of business. In the future ask around for an agent that someone who you know has used and been happy with. This lessens the chance of things going wrong.

Best of luck to you!

Christina Phillips
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0 votes 19 answers Share Flag
Mon Jun 14, 2010
Patrick Samson answered:
Hey Oscar,

That's exactly right, the program is called DU refi plus. There are several things you'll need to check to make sure your're qualified. The most important is was the loan a Fannie/Freddie product.

Best of Luck! -Pat
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0 votes 2 answers Share Flag
Fri Mar 26, 2010
Eric Veronica answered:
Cake,

There are still a number of grant programs out there and they are generally handled by the county or individual cities. Derek was correct stating that you should talk to a loan officer. You also need to begin doing some digging on your own. I would start by contacting Oakland County or the city Bloomfield directly. ... more
0 votes 2 answers Share Flag
Mon Dec 28, 2009
Anu Gandhi answered:
Conventional is the best way to go if u are putting 20 % ,to avoid PMI
Good luck

Anu gandhi ( Associate Broker)
Real Estate One-FH,MI
0 votes 7 answers Share Flag
Tue Dec 9, 2008
Tommy answered:
The FHA loan program was created to help increase homeownership. The FHA program makes buying a home easier and less expensive than other types of real estate mortgage home loan programs. Some highlights of the FHA loan program are:
• Minimal Down Payment and Closing Costs.
• Down payment less than 3% of Sales Price with 100% options.
• Gift for down payment and closing costs allowed.
• No reserves or required.
• FHA regulated closing costs.
• Seller can credit up to 6% of sales price towards buyers costs.
• Easier Credit Qualifying Guidelines such as:
• No minimum FICO score or credit score requirements.
• FHA will allow a home purchase 2 years after a Bankruptcy.
• FHA will allow a home purchase 3 years after a Foreclosure.
These advantages of the FHA loan program has made it one of the best options for most first time home buyers as well as move-up home buyers.
You do not have to be a first time buyer to obtain a FHA loan, anyone may use a FHA loan as long as you do not have more than one FHA insured loan at any one time.
http://www.fhamortgageprograms.com/mortgage/fha-loan-program.shtml
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0 votes 5 answers Share Flag
Fri Nov 23, 2007
Ann Byer answered:
The answer really depends on the property, the location of the property and the history of the property. Also, when doing further research it also depends on just how low you are able to obtain the property. If you can buy the property for less than 1.6 mil than of course the answer is no its not a good buy. When choosing a mortgage company be very careful and choose A plus money. ... more
0 votes 7 answers Share Flag
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