Door to Dreams Team Blog dpmhrexhmm

My team members and I field calls and emails on a daily basis from prospective renters wondering if we as real estate professionals can help them.  Answer - YES, AND YOU SHOULD SEEK OUR REPRESENTATION!!!

Scam artists are everywhere and often find ways to benefit from grim circumstances.  Case-in-point, watch the following 2 1/2 minute clip that aired on NBC's Nightly News in June of 2009

My closing this coming week on an FHA 203(k) loan gave me pause to post this blog so others can learn about this fantastic option.  This loan type opens a tremendous number of doors given the number of bank-owned properties that are for sale.

In short, the FHA 203(k) loan allows for renovation, updating, improvements, and rehab as long as you are purchasing the property as your primary residence.  The underwriting guidelines still do allow for up to 6% in Seller concessions, and in-short the expenses involved in improving the property are financed and amortized over the life of the loan.  This all on-top of the up to $8,000 Tax Credit if you qualify.

With interest rates at historic lows, asking prices at unimaginable numbers, and creative, rehab loan options available, why wouldn't a buyer seriously consider the investment of a lifetime?

Let's take a closer look at West Bloomfield homes for sale in the 3 zip codes - 48322, 48323, and 48324.  Through May 31st, 2009, let's take a closer look at some stats for West Bloomfield homes, in West Bloomfield township:

We are seeing financial hardships in record numbers.  We are seeing declining property values in record numbers.  And even worse yet, we are seeing homeowners in foreclosure THAT COULD HAVE OR STILL CAN AVOID IT, BUT DO NOT REALIZE IT.

It is imperative that I preface this informative post with the following:  Neither Derek Bauer, the Door to Dreams Team or its members, Real Estate One, or Max Broock are providing any legal advice or counsel, as we can not and do not.  Please seek any legal advice from licensed, legal professionals.  This is purely informative, and currently a hot topic in Michigan real estate for Sellers.  In-fact, many recent, current, and future Sellers may not even be aware.

Currently, a Seller pays $3.75 for every $500 increment of sales price to the State of Michigan, and $.55 for every $500 increment of sales price to their respective county.

Max Broock joined the Real Estate One family of companies with 5 Oakland County offices in 2002.  As of April, 2009, we are proud to now offer Max Broock in Farmington Hills!  This is a joint Max Broock / Real Estate One office here on the Farmington Hills / West Bloomfield border. 

Located on the SW corner of 14-Mile and Middlebelt, we are here to serve your real estate needs, and market your property under whichever brand best fits your needs.

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Radon is essentially a naturally occuring, radioactive, odorless and tasteless gas that can be dangerous, and even deadly, to you and your family.  Radon claims 22,000 lives annually through lung cancer and the complications connected.  Radon is the second leading cause of lung cancer in the US, behind smoking.

This is to inform you, not scare you, so allow me to share some promising news before I continue.  IF your home has an elevated level of radon (4 pCi/L or more), there is a remedy!  Due to the sheer weight of this heavy gas, elevated readings will only be detected on the lower-most level of a structure (home/office). 

The historic $787 billion economic stimulus package that was signed into law last week provides benefits for buyers and home owners.  Although we don't know the entirety of the package as relates to  loan modifications and the attempt at preventing foreclosures, here are a couple tax reliefs we are grateful for, and felt necessary.

HOME OWNERS TAKE NOTE!!!  Those making, "GREEN," improvements to their homes may see a tax credit, and these improvements include:  "energy efficient exterior doors, windows, extra insulation, heat pumps, furnaces, central air conditioners, and water heaters."  A homeowner can realize a tax advantage of 30% the cost of the improvement(s), up to a total of $1,500.  This is both great for your wallet, and our environment.

This morning, I had the pleasure of attending the roll-out meeting of a new program in Oakland County, as part of the Neighborhood Stabilization Program (NSP), that you must be made aware of.  There is only $5 Million earmarked for this progam slated to begin in March or April of 2009, and it is first-come, first-served.

If you are a prospective purchaser looking to purchase a primary residence in Oakland County, and are interested in getting a bank foreclosure ... the time to buy/invest is NOW!!! 

'Tis the season for many to deal with ice damming on their roof, and what a headache this can be!

We have prepared the attached .pdf, complete with diagrams, to explain this further so you can protect your investment.  We also would encourage you to speak with a certified, licensed home inspector for more on the prevention and solution to ice damming.