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October 2012

Found 5 blog entries for October 2012.

Selling a Home in Wayne County - Top 7 Tips to Get Your Home Sold Fast

When you're selling a home in Northville, Novi, Royal Oak, Canton, Downriver or any other metro Detroit city in southeast Michigan, your real estate agent will more than likely provide you with a list of updates that you should make.  Likewise, they'll give you some other tips on how to get the home sold as well as how to get the best price.

Here are some of the top tips to getting your metro Detroit home sold at the price you want.

Home Selling Tip #1. Price is Important

While it's tempting to have your home appraised and then ask what it's worth (or a touch more), it's better to ask for less.  A common tactic for home owners selling a home in Michigan is to shave 15-20% off

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Studies are showing that consumers are feeling more positive about the economy. The Reuters/University of Michigan’s consumer sentiment index climbed to 83.1 in September – the highest level since September 2007 – from 74.3 in August. Analysts predicted an honest rise to only 78.3. Five hundred homeowners are involved in this survey each month. Questions ask about their current financial conditions and attitudes towards the economy.

The consumer sentiment survey’s barometer of current economic conditions was only expected to rise to 86, a small increase from last months 85.7. Instead, researchers were astonished to see a significant rise to 88.6.

The index of consumer expectations for six months from now, which runs approximately parallel with the

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Just because you're buying a home in Royal Oak doesn't mean the home is going to be completely sound.  It's easy for a seller to doctor up a home to make it look good.  On closer inspection you could find issues that increase your expenses once the home is yours.

Likewise, if you buy a new home in Royal Oak or similar communities where housing quality is typically higher you could still face the same issues.  Not all builders are cut from the same cloth.

You should never let a community or the new build date of a home guide your purchase decision - those Royal Oak homes for sale could have just as many problems as a 70+ year old home for sale in Canton or Farmington Hills.

You'll want a home inspector, but you also want to pay attention to the

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A strategic default is when a homeowner, who has the financial ability to continue making their mortgage payments, decides to walk away and allow their home to go into foreclosure. In most cases people strategically default on their home when the home is worth less than what is owed on the mortgage. Recently, JZ Analytics released a survey displaying that many Americans feel strategic defaults are acceptable.

Participants in the survey belive "the mortgage market has been scam for many years, and is built on false promises and made victims out of individuals who didn't understand the terms of the mortgage and never had a chance at paying it off".

The major findings of the survey show:

  • Almost 68 million U.S. adults (32 percent) believe homeowners
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Recently, CoreLogic reported that foreclosures are occurring significantly less in many states. In August 2012, there were 57,000 completed foreclosures compared to 58,000 in July 2012. Although it seems like a small difference, August 2011 had 75,000 completed foreclosures. 

Mark Fleming, chief economist for CoreLogic expains:

“August marks the fourth month in a row there were fewer completed foreclosures, which is more evidence that the housing industry is finding its footing. While we are seeing improvement on a national level, there remain higher concentrations of foreclosures in some areas with five states accounting for nearly half of all completed foreclosures nationwide during the last year.”


Five states make up 48.1 percent of all completed

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