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Macomb County MI real estate blog

HUD incentives ending in Michigan - February 12, 2010 is cut off date

January 31st, 2010 · No Comments · fha mortgages and first time home buyers, tips for home buyers, tips for purchasing a foreclosure

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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Short sale denied by lender, then foreclosed upon. What happens next?

January 16th, 2010 · 1 Comment · macomb county mi real estate market, short sale advice in Macomb County MI

A recent question on Trulia Q & A section has still been on my mind days after I replied to it.
The former home owner who asked the question was denied a short sale in which the lender wouldn’t take $30,000 less for their home. It was then foreclosed upon and sold for $116,000 less [...]

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Another successful HUD home purchase in Clinton Township

December 6th, 2009 · No Comments · first time home buyers

Congratulations to Ashley, a single woman who purchased her first home.
The home she bought was owned by HUD, and everything about the purchase process went smoothly. Unlike other bank or government owned homes, HUD has an online process for bidding. Everyone that bids knows when their offers to purchase will be considered, and it [...]

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Are foreclosures the only good “deal” in Macomb County? Not by a long shot..

September 13th, 2009 · No Comments · Up to $8000 1st time home buyers tax credit, first time home buyers, macomb county mi real estate market, tips for home buyers

“I only want to see foreclosures”
I had an interesting conversation with a caller yesterday the other day and  thought I would share it with all of you.  I’m hoping that by sharing it and putting it out to the public that other potential home buyers will see it, and understand the very real aspect [...]

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MSHDA Down Payment assistance programs for home buyers in Macomb County MI

September 8th, 2009 · 2 Comments · Tax credit for first time home buyers in Macomb County MI, Up to $8000 1st time home buyers tax credit, fha mortgages and first time home buyers, first time home buyers

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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Reduction in the number of foreclosures on the market in Macomb County MI

September 1st, 2009 · No Comments · Tax credit for first time home buyers in Macomb County MI, Up to $8000 1st time home buyers tax credit, macomb county mi real estate market, tips for home buyers

If you have been out and about looking at homes for sale in the Macomb County area then you surely have noticed that the number of homes on the market that are foreclosures (bank owned) is less than what it was a few months ago.
Part of the reason for this lower number of bank owned [...]

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Bank owned homes (Foreclosures) and disclosures - don’t expect any.

August 22nd, 2009 · 1 Comment · tips for home buyers, tips for purchasing a foreclosure

One of the things that really gets my goat (ok, that was an oldie but it applies) is the lack of sellers disclosures on bank owned homes.
In Michigan if I decide to sell my own home I am required to provide a written sellers disclosure about the condition of the home.    Are there any known [...]

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City of Warren MI is going to enact a foreclosure registry for homes

July 8th, 2009 · 3 Comments · tips for purchasing a foreclosure, warren MI

The first reading of a new ordinance in the City of Warren has already taken place and the 2nd reading will probably happen when the city council next meets.
This ordinance is going to have a positive affect on homeowners in the city by helping reduce the eyesores and the safety hazards that abandoned properties have [...]

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Sterling Heights foreclosures are selling - but a few surprises also

April 15th, 2009 · 2 Comments · Real estate market reports - Macomb County, Uncategorized, chesterfield township, macomb county mi real estate market, sterling heights, tips for home sellers

I’ve shown many homes in Sterling Heights (Macomb County MI) over the last 2 months and while many of them have been your typical on the market  homes (not a foreclosure or a short sale) I have been surprised to see that it is the foreclosure sales that have overwhelmingly been the homes that have [...]

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What is the difference between a foreclosure and a short sale?

April 13th, 2009 · No Comments · macomb county mi real estate market, short sale advice in Macomb County MI, tips for purchasing a foreclosure

For many home buyers in Macomb County there is confusion when it comes to the definition of a foreclosure (bank owned home) and one that is labeled as a short sale.
A home that is labeled as a foreclosure (or REO, or bank owned) is one that the bank already has taken possession of through foreclosure [...]

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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.