Archive for December, 2010

2011 the Most Incredible Buyer’s Market Ever

The Real Estate analysts are saying we are about to experience the most incredible buyer’s market ever. Years from now, when you look back on the current market some of you will be grateful that you took advantage of the market to get the home you’ve always wanted either buying for the first time or stepping up to a new home. The attached brochure will show you a compelling case for buying a home now.

After reviewing this brochure, please let me know if you have questions. Also, know I’m always available to talk with you about your specific needs and to send you homes to review. Homes have never been more affordable, lenders have improved the short sale process, interest rates are still very low. NOW is the time to Buy.

Happy New Year,

Cheryl Grant/RE/MAX Realty

Link to Brochure: Reasons to Buy

Need-To-Knows Before You Buy

For Buyers: Things you need to know before you buy

There are obvious decisions that need to be made before embarking on a home purchase. How much can you afford to pay? How much do you feel comfortable paying? Which neighborhoods offer the kinds of homes and amenities — like good schools, shops and transportation nearby — that you want? How secure is your employment? Do you have enough cash reserves for emergencies?

In addition to these practical considerations, you should find out as much as possible about the local area. Does it have a strong and diversified economic base? Is employment improving or are employers laying workers off? Are businesses moving into or out of the area?

Are new facilities planned that will impact the community, like a freeway that might change the character of a neighborhood by creating unwanted noise? This could negatively impact property values. (more…)

Wondering if that Remodeling Project Will Net You A Better Selling Price?

Remodeling Magazine has recently released a national study that analyzes the relationship between cost of project and home value by region. There’s some great information in this research and I encourage anyone who is considering a major project to review this information. Overall, statistics for Grand Rapids show that many mid-range projects do not recoup their cost this year — but some things, such as entry doors, will recoup 100% of the project cost, while others, such as a kitchen remodel, will only recoup 60% of the project cost. So plan carefully if you intend to renovate before selling!

Check out the full report, interactive map, and Grand Rapids specific PDF by starting at the Remodeling Magazine Cost-Versus Value interactive report.

5 Myths Busted About Foreclosure

This article from Trulia’s columnist,  Tara-Nicholle Nelson, sums up many of the misconceptions I encounter with buyers and sellers. Our team has special experience in the foreclosure market, and we can help you navigate the waters. But check out this article to get off to a great start!

Four years into the housing crisis, myths about foreclosure still litter the minds of even the smartest of real estate consumers. When it comes to matters as high stakes as your home, confusion can cost you thousands – or even your home. Whether you’re a buyer looking at foreclosures, a homeowner struggling to keep your home or a seller concerned making sure your home can compete with the foreclosed homes on your block, these foreclosure myths are prime for the busting, with no further ado. (more…)

Check Out This Real Estate Blog…

Diana Olick and I go back to my news days at WZZM-13, so I was delighted to discover her CNBC Realty Check blog, which I hope you’ll check out for national, analytical interpretation of the real estate market and the forces that drive it. Diana and I met one year when I was home for Christmas in Bangor, Maine and saw her reports for the CBS affiliate. Her talent, even then, was quite obvious. I asked her to consider a position I had open at the ABC affiliate here in Grand Rapids, WZZM-TV 13. She accepted the position. Shortly after her arrival here, Diana and I spent nearly two weeks with the Good Morning American Team (Charles Gibson and Joan Lunden) in Australia. We produced stories about West Michigan people who had moved to Australia. We had a great time traveling with the Good morning America Team.
Diana quickly move on to bigger markets and then on to CBS in New York. She is a perfect fit for CNBC and their Real Estate segment. Read more about her blog, or better yet, check it out first hand – Realty Check. (more…)

CNBC’s Realty Check Reports Foreclosure Freeze to Chill Spring Housing

Here’s an incisive report from CNBC’s Realty specialist and former Grand Rapids reporter Diana Olick:

The effects of the so-called “Robo-signing” scandal showed up in drastic numbers in a new report today from RealtyTrac. The number of properties receiving some kind of foreclosure filing fell 21 percent month to month and 14 percent year over year. It was the biggest monthly drop in the history of the survey. And while bank repossessions, a component of those filings, fell 28 percent month to month, the number still managed to push 2010 totals over 2009 with one month to spare. A new record number of borrowers lost their homes to banks this year, more than 980,000 so far. Read more at Realty Check with Diana Olick.

Understanding the Force of Foreclosures on Housing Prices…

This in-depth report by Standard & Poor details the impact of foreclosures on the housing price index.  The bottom line is that for the latter part of 2010, millions of foreclosures and weak demand means home prices are down on the national scene. That’s good news for first-time buyers and anyone who wants to trade up for less, but it means you need an experienced home marketing team to take full advantage of opportunities. The report outlines that home prices in 18 of the 20 cities studied in the report declined. About 2 million homes are in foreclosure and another 2.4 million borrowers have missed at least 90 days of payments. Here’s an excerpt. Contact Cheryl to see what this means for you!

Standard & Poor’/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index declined 2.0% in the third quarter of 2010, after having risen 4.7% in the second quarter. Nationally, home prices are 1.5% below their year-earlier levels. In September, 18 of the 20 MSAs covered by S&P/Case-Shiller Home Price Indices and both monthly composites were down; and only the two composites and five MSAs showed year-over-year gains. While housing prices are still above their spring 2009 lows, the end of the tax incentives and still active foreclosures appear to be weighing down the market. To read the full report, download this PDF:SPHousingPrices

Can-Do Partners in Sourcing a Mortgage in Grand Rapids

Today more than ever, I find that clients need someone who is in their court when navigating the process of securing a mortgage. A best practice for buyers in the real estate market is to first, pre-qualify, then hunt for your dream home. That gives you more freedom to act quickly and competitively when the right opportunity presents itself. In a competitive bidding situation, vendors prefer the offer with no conditions — including financing! There are far fewer stressed-out, last-minute disappointments if you know going in what you can comfortably afford.

There are two mortgage experts in the Grand Rapids area who I feel go above and beyond for my clients. I encourage anyone looking to relocate to Grand Rapids,  or within the Grand Rapids area, or even those simply looking for a refi to contact one of my associates with confidence. Tell them Cheryl Grant sent you, and to take good care of you!

Gregg Teegardin, Mortgage Lender
Founders Bank & Trust

616.575.3809 – Direct Line
616.446.5662 – Cell
616.956.7732 – Fax
gteegardin@foundersbt.com

Richard A. Veldman, Branch Manager
MetLife Home Loans

Office: (616) 285-2100
Direct E Fax: (866) 940-1577
General Office Fax: (616) 285-2195
Web Site: www.richardveldman.com

Real Estate Recovery News

Interesting video from CNBC…