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

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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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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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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Wednesday of this week I had time to sit down and have a leisurely lunch with a mortgage represensative, Mike Caira of Great Lakes Mortgage Funding in Sterling Heights, that I think highly of and trust to give me the most accurate information.
One of the things that I wanted to know was if he is [...]

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Contrary to all the doomsday talk about home sales in Macomb County and across the state of Michigan, homes that are owned privately are selling.
Let me state this clearly:  Not all home sales in our area are foreclosure sales.
During the last month (December 2008) 208 homes that were privately owned sold.    Out of those [...]

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One of the features of this blog is that a reader can ask a question or leave a comment without having to log in and subscribe. Recently a potential home buyer named Patricia asked a question that many people have been asking:
“I have an offer in on a bank house now and its been 3 [...]

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A phenomena that those in the real estate industry
have witnessed for the past 2 years or so has been
brought to a halt.  Finally. It’s what I (and others)
termed “Buy and Bail”. In Macomb County some
of what I saw and heard of was nothing but greed.
Sure, home sellers tried to justify it with many
different reasons but [...]

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One of the things I’ve noticed over the last 90 days or so while showing homes in our area is that the foreclosure (bank owned) homes are priced now with selling in mind. A year or so ago the banks overpriced the homes.  I believe they were setting their prices at what they were owed, [...]

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I have been viewing foreclosures and representing home buyers in Macomb County in their purchases of bank owned properties and decided to put into writing some of the things I have learned along the way. I hope you will find these tips helpful.

Prior to making your offer:

Always consider an offer on a bank owned home [...]

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I’ve had many home buyers over the last several
years use the trusty and reliable FHA financing to
purchase their homes. In Macomb County this holds true even more now with the incredibly low prices and the availability of FHA direct mortgage lenders.
Yesterday I was reminded of one of the pitfalls to watch out for that [...]

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