Chat about Macomb County MI real estate & Homes for sale search site

Just when I think the dust is settling a bit with the mortgage changes we receive another whammy.   Currently there are discussions going on about FHA mortgages and changes to the standards that will have a horrible affect here in Metro Detroit, and other areas of the country.
If you’ve thought about buying a home with [...]

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If you have been looking for a home over the last year or so you have encountered homes offered for sale with a “short sale” contingency.   There’s no avoiding them, they make up so much of a percentage of the homes for sale now in Macomb County as well as the entire state of Michigan.
As [...]

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A few days ago I wrote about the 2 part appraisal that is needed in order to successfully use a 203K FHA mortgage.  Another important part of this mortgage that I want to let home buyers know about is that the qualifying for this mortgage is also a bit different than for a regular FHA [...]

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The “rehab” mortgage offered by FHA is a wonderful product, but also wrought with confusion for many potential home buyers. One of the areas that confuse buyers is that there are actually 2 different appraisal amounts that the home must meet in order for the mortgage to be approved.
Below is a basic example of how [...]

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“Is there any down payment assistance anymore” or some version of this question.
Yes, there is. MSHDA, administered by the State of Michigan, has funds available to lend down payment & closing cost assistance.  If you click on the link highlighted above it will take you to the FAQ provided by the state to the program [...]

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Last year when the first time home buyers tax credit was close to expiring we heard talk about it being continued.  And it was.  This time around however there isn’t even a whisper of that happening.
Please, if you are at all considering buying a home to take advantage of the up to $8000 in Federal [...]

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I knew it wouldn’t last forever, but I was kind of shocked to get the information in my email that the HUD incentives for Michigan are ending soon.
As of February 12th of this year (yes, less than 2 weeks away) HUD is putting an end to the wonderful incentives that they’ve been offering for the [...]

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One of the most frustring experiencesfor a home buyer in our area and all across the country is falling in love with a condominium and then finding out that it won’t pass muster as far as FHA is concerned.
We all try very hard to do our due diligence: Is the condo complex a new one?   [...]

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MSHDA (Michigan State Housing Development Authority) has some new
programs to help first time home buyers with their down payment
assistance.   I talked with Michelle Cyplik of Paramount Bank in Rochester
MI about these programs just before the Labor Day weekend, and we are
going to get together at the end of this week to talk more in depth [...]

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I think home sellers will find the news much more valuable now than ever
before.  If a home seller has balked at accepting an offer on their home from
a buyer who is using an FHA or VA mortgage they should pause and look
at this chart:

Over 1/2 of homes that sold during the month of June (2009) [...]

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