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Macomb County MI Real estate

Macomb County MI real estate blog

Entries Tagged as 'tips for purchasing a foreclosure'

Purchasing a HUD house in Macomb County MI – What does “repair escrow” mean?

February 16th, 2013 · No Comments · tips for home buyers, tips for purchasing a foreclosure

Even though the supply of foreclosures is finally going down in Macomb County, my buyers and I are still seeing new HUD homes come on the market each week.   If my buyers are FHA buyers with limited funds to bring to closing, there is something I watch out for diligently with these HUD homes:  A […]

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HUD owned condos – different rules for FHA financing

October 6th, 2012 · 4 Comments · Condos in Macomb County MI, tips for home buyers, tips for purchasing a foreclosure

We (agents and home buyers) are all getting used to the fact that if a home buyer is using FHA as their mortgage financing for a condo, that the condo must be in a HUD approved condo complex.   (Lots of fun for the buyers agents and buyers to find what they want within a complex […]

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Interested in buying an investment home in Macomb County? Have your line of cash or mortgage ready to go!

August 28th, 2012 · No Comments · tips for home buyers, tips for purchasing a foreclosure

The tables have turned (so to speak) in Macomb County over the last 6-9 months.  There aren’t enough rental properties for those who need them, and the homes for sale (if priced well and in decent shape) have multiple offers in on them within days on the market. I’ve worked with a couple of investors […]

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Foreclosures are down finally, but that means multiple offers on homes for sale in Macomb County MI

April 12th, 2012 · No Comments · macomb county mi real estate market, tips for home buyers, tips for purchasing a foreclosure

The Detroit News has an article this morning about foreclosures and default filings in Macomb County and the Metro Detroit area, and the first thought that came to my mind was:   We’ve been seeing this for months now! Almost every buyer that I am working with has been running in to this problem:  There are […]

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One of the most read articles I’ve written – “Tagged homes in the City of Warren” – revisiting this important information for Macomb County home buyers

April 10th, 2012 · No Comments · tips for home buyers, tips for purchasing a foreclosure

Have you recently purchased a home in one of our Macomb County communities that has an “abandoned or foreclosure” ordinance? If you have, you have probably by now realized that if there was a city / township “tag” posted on the front of the home, that you will need to have the city /township building […]

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When your full price offer isn’t really full price (Sellers concessions and the home buying process in Macomb County MI)

February 6th, 2012 · No Comments · fha mortgages and first time home buyers, first time home buyers, tips for home buyers, tips for purchasing a foreclosure

You don’t have to be a first time home buyer to be confused about how sellers concessions work.   Many 2nd and 3rd time home buyers ask the sellers for concessions (help in paying the buyers closing costs, pre-paid items, and/or tax prorations.) The confusion sets in for buyers when they make a strong offer on […]

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An increase in calls about “tagged” homes after purchase – what Macomb County buyers should know BEFORE they buy!

June 29th, 2011 · No Comments · Appraisals in Macomb County MI, Buyers agency, macomb county mi real estate market, tips for purchasing a foreclosure

In the last month or so I have received more phone calls about an article I wrote last year that warned Macomb County MI home buyers about “tagged” homes and the certificate of occupancy that is needed before they can move in. There are 2 things I have learned from these calls:    1) Some buyers […]

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Buying a foreclosure or bank owned home using FHA? What you need to know about FHA (or VA) repairs

June 6th, 2011 · No Comments · Appraisals in Macomb County MI, fha mortgages and first time home buyers, tips for home buyers, tips for purchasing a foreclosure

One of the most frequent issues that I run in to while representing a home buyer in my area (Macomb County, St. Clair County, Oakland County) is the fact that so many homes are foreclosures (bank owned) and my buyer clients are using an FHA or VA mortgage. FHA has what I term “health and […]

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Have you been seeing all the “Fannie Mae Homepath Renovation..” notations on Macomb County homes for sale listings?

April 27th, 2011 · No Comments · macomb county mi real estate market, tips for home buyers, tips for purchasing a foreclosure

If you’ve been searching all of the homes for sale databases in Macomb County (or the tri-county area) then I’m sure you’ve been seeing many listings of homes that are Fannie Mae held foreclosures.   One of the nice features of these foreclosures is that many of the homes are approved for a Fannie Mae renovation […]

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Purchasing a foreclosure in Macomb County and the utilities are disconnected?

April 10th, 2011 · No Comments · tips for home buyers, tips for purchasing a foreclosure

More often than not, when a home is bank owned the utilities to the home have been turned off.   I would venture to guess that in the Macomb County MI area 75% of the foreclosed homes are without electricity, gas or water. Pre-planning when writing your offer to purchase the home and estimating closing and […]

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Important copyright information: All photos were taken by Kris Wales. Do not copy and use photos for your own use, whether it be for personal or commercial purpose. All articles were written by Kris Wales. Once again, do not copy and use for your own purposes. Important disclaimer: Views expressed on the blog by the author and commenters do not express the views of Keller Williams Realty. All information contained is deemed to be reliable at the time of posting but not guaranteed.