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Home Buying in 48202 : Real Estate Advice

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  • Local Info3
  • Home Buying12
  • Home Selling1
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Activity 663
Mon Feb 18, 2013
Jamie Hastings answered:
Hi Peter,
Yes there are occupied properties in Detroit and surrounding areas for sale. You can reach me by cell - (734)444-5323 or email - jhastings@visionrealtycenters.com and I will get you the property information for occupied homes. I would like to know how much you are looking to invest, and what kind of ROI you are seeking. I look forward to talking more with you and helping you every step of the way with your investing needs.

Thank you,

Jamie Hastings
Realtor
(734) 444-5323
... more
0 votes 5 answers Share Flag
Wed Aug 8, 2012
Michael Warren answered:
Hi

Currently the sale is pending and has not closed yet.
The list price was $4500.

Sincerely,

Mike Warren
Keller Williams Realty
0 votes 2 answers Share Flag
Sat Aug 4, 2012
Derrick Falconer answered:
19420 Burlington status is Pending as of 05/17/12. This property is a Short Sale subject to 3rd Party Approval.
0 votes 1 answer Share Flag
Tue Jul 31, 2012
Haig Istamboulian answered:
Hello,

The home at 15830 Glastonbury in Detroit was put up for a Short Sale on 4-9-2012 at $24,900.00. An offer was accepted on the home by the OWNER of the home on 7-26-2012 and now the home is marked CCS. CCS means that the OWNER accepted the offer, but now the offer gets sent to the mortgage company for review.

In case you don't know what a short sale is; the owner of this home owes more on the home than the sale price, so they are underwater on their mortgage. Since the mortgage holder is owed more than the home is worth, they are the ones who have to make the final decision as to whether or not they will accept the offer. So until the bank makes a decision, the home will remain marked as CCS.

CCS technically means that you can see the home. But if you decide to place an offer on the home, it will ONLY be considered as a back-up offer, if a back-up offer does NOT exist. Also, just because a home is marked CCS doesn't mean that the listing office will let you see it, some offices will not allow you to see a home marked CCS.

I hope this explains it for you, but feel free to email me with any other questions that you may have, my contact information is listed below.

Thank you,

HAIG
Elias Realty
(248) 379-6547
realtorhaig@aol.com
... more
0 votes 1 answer Share Flag
Thu Aug 2, 2012
Alison Hillman answered:
Hi there,

Great question, you can learn all about the types of crimes being committed in the area by checking out Trulia's Crime Maps: http://www.trulia.com/real_estate/North_Rosedale_Park-Detroit/3860/

I hope that helps, please let me know if I can help with anything else.

Best,
Ali, Community Manager
... more
0 votes 5 answers Share Flag
Wed Aug 1, 2012
Ron Thomas answered:
I know that there are some good Realtors in your area who will help you with your search:
The Buyer's Agent is paid by the Seller, so it costs you nothing.
And it sounds like you need the help. ... more
0 votes 5 answers Share Flag
Tue Feb 9, 2016
Annette Lawrence answered:
when you purchase a foreclosed property, you will receive a clear title for the property.
The process of getting to that point may result in you paying additional costs above and beyond the purchase price. If you are unfamiliar with purchasing foreclosed real estate it is unlikely you will know with fees you can refuse to pay and which one will sink your deal of you blink.

The situation changes with the situation of the property and the bank or investor that owns the property. This would be a great time to contact a Detorit real estate professional.
... more
0 votes 6 answers Share Flag
Tue Jul 24, 2012
Ron Thomas answered:
You have to PRE-PAY your Property Taxes;
whether it is through the Escrow or directly.
Pre-paid taxes are one of the items in your Closing Costs.
Depending upon the month you close, you will pay 1 to 6 month's taxes.

Haven't you gotten your HUD1 and had it explained to you?
... more
0 votes 5 answers Share Flag
Thu Aug 2, 2012
Tim Moore answered:
It's always the same steps:

#1 speak with a lender - ask to be pre-qualified to see if you can get a loan and for how much. It's free and you don't get a credit check yet.

#2 speak with a Realtor and pick one you like and can work with, they will guide you from there and based on what you found out in step #1. ... more
0 votes 4 answers Share Flag
Wed Jul 25, 2012
Darrell D. Drouillard answered:
Not likely. The credit score is not just a number, but rather a designation of risk. To get a score that low you had to have earned it by overextending your self with credit, not paying your bills timely or not paying at all and maybe even forcing creditors to chase you down for payments or place judgements against you. No lender will look at that and clap their hands in excitement to give you a big loan knowing you likely will not pay based on your track record. I recommend seeking credit repair, try to pay down some debts and establish a track record of pay timeliness to help boost your score to a level where a lender can work with. Good Luck. ... more
0 votes 3 answers Share Flag
Sat Jul 14, 2012
Bob Schweiss answered:
Yes this the real thing. The property is listed and is accepting cash offers.
If youn would like to schedule a showing please give me a call.
Thanks
Bob Schweiss
Remerica Hometown One
(313)779-6188
... more
0 votes 4 answers Share Flag
Sat Jul 14, 2012
Kathy Persha answered:
This is the real deal. This home went into foreclosure in April, 2011 and is currently owned by Freddie Mac/Fannie/Mae. The bank is accepting cash offers only. To make an offer, you will need a realtor and the cash to purchase it.

Kathy Persha, Realtor
Keller Williams Realty
248-930-0198
... more
0 votes 2 answers Share Flag
Sat Jul 14, 2012
Keith Dunn answered:
Detroit properties are sold by how much you are willing to pay for it in the condition it is in. If the property is in poor condition you will pay less to purchase it. If the house next door is for sale but in move in condition it will sell for much more. The best way to find out what a property is worth in Detroit is to check and see the retail sales in that area FOR THE LAST 30 DAYS. And that will give you an idea what to offer. I've seen houses bought for less then what it was listed for and more then the list price.
If you are thinking about buying in Detroit you need to work with a company that knows the BEST areas to buy so you will get the HIGHEST return on your investment at the a low price and have QUALITY tenants waiting and wanting to rent your property because its in an area they will pay HIGHER rent for.

Example: your all in price, which includes purchase price, closing cost, and rehab cost. should be between 20-25k
Then you have to decide, do you want to rent and hold our or land contract to buyers. Either way you will generate CASH FLOW MONTHLY.

Lets say the rent the house for 750mo, and your expenses are 400mo that leave you 350mo CASH FLOW your ROI (Return on Investment) is 16% Not bad.
If you have anymore questions email me @ kbed2000@yahoo.com
Thanks
... more
0 votes 1 answer Share Flag
Sat Jul 14, 2012
Stephen Connolly answered:
Lavonda, This is still available. This is a short sale.
0 votes 2 answers Share Flag
Tue Jul 10, 2012
Tc asked:
Property forfeited in Chapter 13 Bankruptcy. Redemption period waived.
0 votes 0 Answers Share Flag
Fri Aug 3, 2012
My NC Homes Team answered:
I would strongly advise against this. Why in the world would you want to own rental property halfway around the world. You'll be at the mercy of your tenants and your property manager and I can't think of a way to squander your life saving any faster other than going to a casino.

Other than belieivng that you can buy property cheaply in Detroit, what do you know about Detriot, Michigan, or being a landlord?

Trust me, don't pursue this further.
... more
0 votes 10 answers Share Flag
Mon Jul 9, 2012
Charlene Johnson answered:
Hi Anthony,

My name is Charlene and I would love to assist you. I would first need to know how much is your shoe-string budget :-) and a little bit more information so that we can find your holiday home.

Email or give me a call and let's get started.

Thank you,

Charlene Johnson
The Conquest Real Estate Group
16250 Northland Drive
Suite 202
Southfield, MI 48075
(248) 499-2187
cjohn3615@gmail.com
... more
0 votes 2 answers Share Flag
Wed Jul 4, 2012
Tommycooker answered:
seems to me that rather than auctions, prices aree going up and present listings are firm!
0 votes 1 answer Share Flag
Sun Jul 1, 2012
Anna Torres answered:
I want to sell a house that me and my partner bought as an investment for $20K cash.
Please call if interested. 3/1.5 two story, was cleaned up and fixed. 1464 sq,ft, Not on the market.
Please call 954-325-8486
... more
0 votes 1 answer Share Flag
Sat Jul 14, 2012
Haig Istamboulian answered:
Hello,

The Summer taxes are $2,169.00 and the Winter Taxes are $219.00. But the property is Bank Owned and the taxes are NON Homesteaded.

If you purchase the property AND live in it, taxes will go down.

If you have any more questions, feel free to email me.

Thank you,

HAIG
Elias Realty
(248) 379-6547
realtorhaig@aol.com
... more
0 votes 2 answers Share Flag
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