Friday, October 31, 2014

Fannie Mae Extends First Look Opportunity for Homebuyers


In an announcement from Fannie Mae the First Look™ period will be extended to twenty days. This allows additional time for owner-occupants (private home buyers) and public entities to submit an offer on a HomePath property without competition from investors. The change is effective for properties listed on or after January 2, 2014.
First Look is the program allowing private home buyers to bid on property that is owned or managed by Fannie Mae without competition from investors. In many cases, this means that offers from private homeowners will be accepted on Fannie Mae properties much less than what could be "market value" if investors where involved.
To bid on property that is listed with Fannie Mae, call Morris Hagerman from Real Estate One or your own real estate professional. Hagerman can arrange for a full list of properties that are currently on the market be sent via email. Also, using Real Estate One's preoitorial "First to Know" program, new properties that come on the market can be sent on the first day. This allows the maximum amount of time to evaluate the property and consider making an offer.
Fannie Mae properties can be found in all parts of town. Meaning there is sure to be properties in areas that a private residential home buyer is interested in. This program is in place because Fannie Mae believes that these properties offered to private home buyers contributes to neighborhood stabilization and reduces taxpayer losses.  
Morris Hagerman is a local real estate agent with Real Estate One in Royal Oak, Michigan.  He serves Berkley and the other Woodward 5 communities, including Ferndale, Pleasant Ridge, Royal Oak and Huntington Woods.  Hagerman is also a member of the Berkley/Huntington Woods Area Chamber of Commerce.  You can contact him by phone at 248-854-8440, email at morrishagermanproperties@gmail.com or visit his web page.

Thursday, October 23, 2014

REAL ESTATE ONE IN GLADWIN MICHIGAN LAUNCHES NEW HOME SEARCH TOOL AT WWW.GLADWINREALESTATE.NET

GLADWIN, MI, USA, October 22, 2014 /EINPresswire.com/ -- Randy Bierlein of Real Estate One in Gladwin, Michigan, is launching a new website for home-buyers to search for area real estate.

According to Bierlein, who specializes in homes in the Gladwin area, the site provides accurate real estate listing data from the MLS.

"We actually provide listing data for all Michigan real estate, but our company is focused on Gladwin real estate," he says.

Bierlein's familiarity with Michigan lakes and Michigan lake homes will make the new search engine a popular choice for home buyers looking for lake property for a year-round residence or second home.

"We have provided one-click access to home on the major lakes in our area, including Secord Lake, Wixom Lake, Sugar Springs Lake, and Wiggins/Pratt Lakes," Bierlein says. "We have also provided one-click access to other lake home listings elsewhere in Michigan."

According to Bierlein, one thing that makes this site unique is the freshness of the data. He notes that because the information comes from the MLS, it is typically more accurate and up-to-date than the real estate information consumers find on the big national websites.

"The big national sites tend to compile their real estate data from different sources, and it quickly gets out of date," he says. "One of the most disappointing things for home-buyers is when they come to me with a property they want to look at, and it's no longer available because the website they found it on isn't very accurate."

He says he's solved that problem at www.GladwinRealEstate.net, because buyers and sellers can find accurate information refreshed several times a day from the source of the data, the MLS.

"At the end of the day, this isn't just about a website, but about customer service. We really look forward to helping our clients achieve their dreams, and the website is just one way we do that," he says.

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Morris Hagerman is a local real estate agent with Real Estate One in Royal Oak, Michigan.  He serves Berkley and the other Woodward 5 communities, including Ferndale, Pleasant Ridge, Royal Oak and Huntington Woods.  Hagerman is also a member of the Berkley/Huntington Woods Area Chamber of Commerce.  You can contact him by phone at 248-854-8440, email at morrishagermanproperties@gmail.com or visit his web page.

Friday, October 17, 2014

30-Year Fixed Mortgage Rates Drop Below 4%

Oct 16, 2014
Mortgage rates have gone from cheap to dirt cheap in the span of one week, thanks to fixed-rate home mortgages falling to below 4% and hitting new lows for the year.
Now, buyers can lock in the lowest rates of the year at 3.97% for a 30-year fixed-rate mortgage, down from 4.28% a year ago and 4.12% last week, according to Freddie Mac.
“Mortgage rates are down sharply following the decline in the 10-year Treasury yield for the second straight week,” said Frank Nothaft, vice president and chief economist at Freddie Mac, in a released statement.
The week’s mortgage rates mark the lowest level since June 2013, according to the report. Nothaft attributed the drop to “continued investor skepticism regarding the precarious economic situation in Europe.”
The 15-year fixed-rate mortgage also reached a new low at 3.18% down from 3.33% last week and 3.30% a year ago, according to Freddie Mac.
While mortgage rates are falling, home prices are rising, and 84% of people surveyed expect prices to go higher, according to the Bankrate’s Financial Security Index.

The decline in mortgage rates could spur more home sales this fall, although if positive economic and employment data continue to be reported, mortgage rates likely will rise, according to realtor.com® Chief Economist Jonathan Smoke.
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Morris Hagerman is a local real estate agent with Real Estate One in Royal Oak, Michigan.  He serves Berkley and the other Woodward 5 communities, including Ferndale, Pleasant Ridge, Royal Oak and Huntington Woods.  Hagerman is also a member of the Berkley/Huntington Woods Area Chamber of Commerce.  You can contact him by phone at 248-854-8440, email at morrishagermanproperties@gmail.com or visit his web page.

Wednesday, October 15, 2014

These interior design trends turn off buyers

By: Patricia-Anne Tom

Woman with boldly printed wallpaper. For story on interior design trends.
You want your home to look its best, and maybe you’ve been inspired by the interior design trends you’ve seen in magazines, on TV or on design websites.
But following some of the hottest home remodeling and interior design trends can backfire when it comes time to sell your home.
Buyers want to picture themselves in a home, and highly individualistic touches can get in the way of that.
When you’re ready to sell your home, it’s best to put things in pristine, move-in condition and remove all of the individual touches that made your house a home.
After all, your goal is to get potential buyers to picture themselves in the home—and they won’t be able to do that if your decorating style still dominates.
Check out the caveats that go along with these home interior design trends.

1. Boldly Painted Walls

Decorators often tout black or another bold paint color as the perfect backdrop to metallic accessories or appliances in modern home design.
The reality is that people prefer the exterior and interior walls of a home to be neutral. Even though repainting is cheap and relatively easy to do, it’s still a pain and buyers might not want to bother.
When decorating, your best bet is to stick to an appeasing hue for the walls and use accessories to provide pops of color.

2. Wallpaper

Bold, graphic patterns increasingly are being incorporated into interior design, often in the form of wallpaper.
But wallpaper—even if it’s only on one wall—is an extremely personal choice and time-consuming to remove if it doesn’t appeal to the buyer
Consider replacing wallpaper with a neutral paint for broader appeal.

3. Lavish Light Fixtures

While potential buyers want rooms that seem airy and bright, beware of installing a showpiece light fixture that is too modern or ornate.
Fixtures should enhance your home—not steal the spotlight.

4. Gleaming Gold

Designers may be mixing silver and gold to give homes star quality, but it might be wise to change out fixtures if they have the wrong metallic sheen.
Gold can give a home an outdated, ’80s feel. Switching out the faucet and door handles with a more appealing finish—such as brushed nickel—is relatively inexpensive and can help make your home appear sleek rather than out of style.

5. Converted Garages

People want a covered parking space so that they have a safe place for their car—especially in areas where street parking is at a premium. Additionally, people often use their garage as storage space.
If you convert your garage into a space tailored your specific needs, such as a music practice room, it may not suit your potential buyers.

6. Converted Bedrooms

Like with the garage, people want rooms built for their original purpose.
If you’ve converted an unused bedroom to an office, walk-in closet, or a game room, make sure you can easily convert it back to a bedroom when you’re ready to sell.

7. Carpets

While designers love to play with the texture of shag carpeting as it feels soft underfoot, the majority of home buyers prefer hardwood floors.
People assume carpets trap dirt, germs and odors, and they don’t want to go through the hassle of steam cleaning their home before they can move in. Potential buyers also don’t want to spend time removing carpet to expose hardwood floors.
If someone really loves carpet, it’s much easier for them to add it themselves—after the purchase.

8. Too-Lush Landscaping

The “outdoor living room” is all the rage, and you may be tempted to build out your backyard into a lavish wilderness of flowers.
But potential buyers may be hesitant to buy a home with an overly landscaped property requiring a lot of maintenance.
Focus on creating or maintaining a nice and neat outdoor space that people can enjoy without too much fuss.

9. Pools and Hot Tubs

A pool may seem like a luxurious feature, but it can be a big turnoff for buyers.
Pools are perceived to be expensive to maintain and potential safety hazards, especially for families with children. Above-ground pools are eyesores and can leave a dead spot in the backyard.
These sentiments extend to hot tubs, too. Many people see hot tubs as breeding grounds for bacteria, and they are not a feature easily removed from the deck or back yard.

10. Fancy (or Not) Pet Products

Sales of pet products are expected to increase nearly $3 billion from last year, and there’s an increasing market for luxury pet items.
But even animal lovers don’t want to see another family’s pet paraphernalia in a potential home. Even if your home is immaculate, the presence of pet-related items will give the impression that it’s dirty.
Be sure to remove all traces of your pet—including toys, food dishes and photos—before listing your home for sale.

Morris Hagerman is a local real estate agent with Real Estate One in Royal Oak, Michigan.  He serves Berkley and the other Woodward 5 communities, including Ferndale, Pleasant Ridge, Royal Oak and Huntington Woods.  Hagerman is also a member of the Berkley/Huntington Woods Area Chamber of Commerce.  You can contact him by phone at 248-854-8440, email at morrishagermanproperties@gmail.com or visit his web page.

Monday, October 13, 2014

Ferndale largest sale price, Oakland County is second


According to an examination of county records, the average median sale price of homes in Oakland County grow by 29.3% since 2009.  The county was only behind Washtenaw for the highest growth. For Oakland County communities, Ferndale out ranked all other Oakland County communities with a growth of 64% for the same period.  Ferndale was second for all communities in southeast Michigan

Here are details of the report.  This data was first published in the Detroit Free Press on October 11, 2014 and collected by Advertising that Works.



Median Home price
CountyLivingstonMacombOaklandWashtenawWayne
2009$156,000$100,000$145,000$144,500$72,000
2010$155,000$91,500$138,500$154,900$59,000
2011$162,000$80,000$140,000$148,000$50,000
2012$169,000$90,000$150,000$164,000$56,150
2013$184,900$108,000$174,000$184,000$70,000
2014 (year to date)$196,900$121,900$187,500$199,820$76,300
% Change (2009 - 2014)26.20%21.90%29.30%38.30%6.00%
Hot spots by county (for communities with a minimum of approximately 100 sales per year)
Macomb
CommunityChesterfieldMacombSt. Clair ShoresWashington Twp.
2009$125,000$175,000$81,000$204,000
2010$113,500$175,250$72,000$175,000
2011$125,500$175,000$67,500$170,000
2012$126,250$195,000$71,638$186,500
2013$157,000$218,000$87,000$218,500
2014 (year to date)$166,000$225,838$100,000$249,500
% Change (2009 - 2014)32.80%29.10%23.50%22.30%
Hot spots by county (for communities with a minimum of approximately 100 sales per year)
Oakland
CommunityFerndaleHollyWhite LakeSouth LyonSouthfield
2009$75,000$105,000$145,300$180,000$70,000
2010$72,500$100,000$147,250$124,900$68,000
2011$64,500$104,014$150,000$110,000$61,000
2012$65,000$109,075$160,000$129,728$60,844
2013$105,000$117,750$187,500$235,365$75,000
2014 (year to date)$123,000$162,000$214,500$258,000$98,000
% Change (2009 - 2014)64.00%54.30%47.60%43.30%40.00%
Hot spots by county (for communities with a minimum of approximately 100 sales per year)
Wayne
CommunityInksterDetroitHamtramckGrosse Pointe ParkGrosse Pointe Farms
2009$15,987$18,900$25,000$188,000$189,000
2010$19,900$15,513$22,500$183,100$236,500
2011$16,287$16,000$16,000$200,000$221,625
2012$15,000$20,000$23,000$220,000$199,500
2013$23,000$26,500$28,000$216,000$256,000
2014 (year to date)$33,000$29,843$37,750$280,880$280,000
% Change (2009 - 2014)106.40%57.90%51.00%49.40%48.10%
Hot spots by county (for communities with a minimum of approximately 100 sales per year)
Washtenaw
CommunityYpsilantiChelseaAnn ArborSalineDexter
2009$90,000$150,000$198,000$187,000$195,000
2010$92,000$157,400$200,000$190,000$220,068
2011$85,700$145,000$210,000$210,000$180,000
2012$94,455$175,000$220,000$207,000$215,000
2013$120,000$188,000$243,000$215,000$225,000
2014 (year to date)$141,950$222,450$261,000$239,000$241,250
% Change (2009 - 2014)57.70%48.30%31.80%27.80%23.70%
Hot spots by county (for communities with a minimum of approximately 100 sales per year)
Livingston
CommunityHowellBrighton
2009$145,000$175,000
2010$142,750$170,000
2011$145,700$185,250
2012$158,000$189,000
2013$172,000$215,000
2014 (year to date)$186,750$225,000
% Change (2009 - 2014)28.80%28.60%

Morris Hagerman is a local real estate agent with Real Estate One in Royal Oak, Michigan.  He serves Berkley and the other Woodward 5 communities, including Ferndale, Pleasant Ridge, Royal Oak and Huntington Woods.  Hagerman is also a member of the Berkley/Huntington Woods Area Chamber of Commerce.  You can contact him by phone at 248-854-8440, email at morrishagermanproperties@gmail.com or visit his web page.