Bank Foreclosures

Fresh off the press! The incentives keep getting better for first time homebuyers throughout the country. Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit lenders to allow homeowners to use the $8,000 tax credit as a downpayment. The best part is the $8,000 does not have to be paid back. Secretary Donovan said that important changes, which the National Association of Realtors® has been calling fo... Read Full Post

For those of you that call expired listings and for sale by owners the most common objections this time of the year from a homeowner is "I want to wait until after the holidays" or "Nobody buys homes during the holidays." We all know this is NOT true. In fact if you look at your MLS statistics homes still sell in November and December, so the homeowners that are on the market actually have a distinct advantage over those that are "sleeping" until spring time. Here is the most compelling reaso... Read Full Post

Halloween Is Going To Suck This Year! This is a funny picture but so true. This tells the tale of what is going on in the real estate market here in Metro Detroit and really throughout most of the entire country now. Unfortunately kids will have to walk to many more homes to get the same amount of candy because of all the Michigan bank owned foreclosures and empty houses. Everybody thinks that just because the house is a foreclosure that it is the steal of the century. This is just not true. ... Read Full Post

I'm very excited about the real estate market that is spreading across the country. While most Realtors think this is the worst possible thing that could ever happen to our industry, I'm looking at all the positive things that will come out of this market. Lets face it, there are a lot of Realtors who are having their best year ever, not to brag but me included. There are a lot of Realtors who have sold more houses than they have ever sold before. There are a lot of Realtors who have done pos... Read Full Post

ATTENTION ALL REAL ESTATE AGENTS... ALL Seller funded Down Payment Assistant Programs such as Nehemiah, HART and AmeriDream or funds from any other interested party (Yes, this includes the seller) to the transaction will be prohibited on all loans where final credit approval has not been established by September 30, 2008. This means call all your buyer leads that have been sitting on the fence and tell them the urgency of finding a home within the next two weeks. I say the next two weeks, bec... Read Full Post

Donald Trump has even decided to jump into the real estate bank foreclosure market. Donald Trump will be soon be Ed McMahon's Landlord. Trump has agreed to buy Ed McMahon's house for an undisclosed price and rent the house back to him. The Beverly Hills mansion boasts six-bedrooms, five-bathrooms and had been on the market for about two years. At one point, it was listed at more than $7 million but dropped in increments, winding up this weekend at $4.6 million. McMahon purchased the house in ... Read Full Post