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February 2016

Found 6 blog entries for February 2016.

Tips for Cleaning Your Home Before Listing It

What to Clean & When

If you're listing your home, you probably are trying to think of ways to make sure its appeal is at its highest to those looking for a new place. A very easy way to do this is to make sure it is cleaned well. This may sound tedious, but with this convenient checklist, it can be done quickly and your home will surely attract many potential buyers. The areas that this checklist features are often not considered when getting a home ready to be listed, and they are often areas that can easily become dirty again. Making sure they are properly cleaned will make a huge difference when it comes to how quickly your home will sell. While going through your home, use this checklist to look at these key areas in each of the rooms

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Whether you are currently shopping around for a mortgage or you’re gathering information in order to be in the best position to shop for and apply for a mortgage in the coming year, you’ve probably heard about mortgage points. While points are fairly common in the mortgage industry, to an outsider they can be confusing and intimidating to understand so we’ve collected some great basic information about mortgage points: what they are, how they work, and what you’ll need to know about them in order to determine if purchasing points is something you will be interested in doing when you are ready to purchase a home.

What are points and how do they work?

A point is a fee you can pay, which is equal to 1% of the mortgage loan amount. So if you have a loan

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Michigan Existing Real Estate Market Rebounding

Rebounding Real Estate in Detroit

Home sales are expected to rise in 2016 after there was a 12.3% decrease in December of 2015 from November. Growth over 2015 is projected to increase by 7.7% and month-to-month growth is projected to increase at 14.7%. Sales in 2016 are looking a lot brighter with sales at an increasing annual rate of 5.46 million. According to studies by the NAR, existing home sales in December 2015 were up 7.6% from what they were in December of 2014, which is proving 2016 to have a very positive outlook for real estate. 32% of homes in December sold within 30 days, and with the upward projections for 2016, buyers are encouraged to act soon as the market is progressing quickly.

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An FHA loan offers home buyers many advantages over traditional conventional mortgages, including lower (or no) down payments, generous credit score allowances and more. For this reason, many people may be interested in leveraging an FHA mortgage to purchase an investment property, whether a single family home they will rent out, a multi-unit building they will rent out or a vacation home that may be occasionally occupied by the buyer and occasionally occupied by (often weekly) renters.

So, can you take advantage of all the benefits that an FHA mortgage loan offers on a home you won’t occupy as a primary residence?

Unfortunately, generally no. FHA loan rules require the borrower to use the residence they are purchasing as their “primary

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If you're planning on buying a condo anytime soon, you will most likely have to take out a mortgage. Unless you can pay for the condo with cash (rare), you will have to go through the exact same process as if you were buying a home.  Here are three things you should know about condo mortgages:

You Will Have to Pay HOA Dues.

If you aren't familiar with the term, HOA dues are short for homeowners association dues.  If you're used to renting, these dues will come as somewhat of an unexpected expense to you, so you will need to learn how to budget for them with your monthly payments.  HOA dues pay to keep the condo nice and functional for all of the residents; these fees can easily range anywhere from $50 to $500 per month, depending on the cost of your

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For many looking to purchase their first home, a second home or even an investment or rental property, buying a foreclosure may seem like an easy way to get a lot of house at a bargain. While foreclosures are almost always priced competitively or even under market value, buying a foreclosure comes with some hidden hazards and hidden costs which are generally not found in traditional home sales. If you are not careful with your foreclosure purchase, these hidden costs can add up quickly, eating up any savings you found by purchasing a foreclosure over a traditionally marketed and sold home.

If you’re thinking about purchasing a property that has been foreclosed on, we’ve gathered a list of several hidden costs to be on the watch for before you finalize

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