About Oakland County, MI

Well, the dreaded time is nearing where the city of Rochester's Main Street (You know, Main St. or Rochester Road and University or Walton Blvd.) will be undergoing a transformation from tearing up the streets and installing new sewer and water lines. 100 year old pipes are needing to be replaced. So what to do to get around. Well, you will need to Bike or need to Walk to get around Rochester. Call it Green Living!

Seriously, the City will be posting alternate routes for people traveling to and from Rochester on the city website, online newspapers and cable channels, etc.

I suggest if you are wanting to go north of Rochester on Rochester Road - you can either take Livernois Road, Brewster Road or Adams Road North to Tienken East to Rochester Road. Or take Dequindre Road north to 23 Mile Road or to Tienken Road at Rochester Road. Stay on the perimeter and you should be able to get where you are going. If in doubt, call the City of Rochester and ask for directions.

As a twenty-five year resident I know my way around and this will still be challenging for me.

1. Are your Sellers hanging out when Buyers are viewing their home: Buyers stalk properties online and off, checking obsessively for price reductions and the like. But buyer-side home stalking is unobtrusive to sellers. On the other hand, buyers can feel personally stalked and stifled in their ability to fully explore or verbally process their impressions of a home when the seller hangs out inside your home while it’s being shown.

As soon as a buyer sees the seller in the house, it instantly becomes much more difficult for them to”
(a) envision themselves living there (it’s your house, after all),
(b) be comfortable opening up drawers, closet doors, etc., and
(c) express their thoughts about how this house might be exactly what they’re looking for, if they can knock out that wall and get rid of those cukoo murals you so lovingly painted in your children’s rooms.

Sellers: If you want to sell your home, it’s best to not be around when buyers are looking. Give them some breathing space and a chance to truly walk around and consider what they like and/or dislike about your home without lurking and looming. Try to put yourself in the buyer's shoes.

2. Are Sellers happy having Buyers seeing a messy house: Life gets hectic, and it’s easy for things like laundry, dishes and other house cleaning tasks to fall by the wayside. It’s also difficult to keep the home in which you and your 4 kids, 3 gerbils and 2 Labrador Retrievers live perfectly spotless for months at a time, while you’re waiting for an offer. But when you decide that you’re going to sell your home, it’s imperative that you make a pact and a plan with yourself and your family that the place will be in tip-top shape when buyers come knocking.

Remember: your home is competing with dozens of others, as well as with buyer’s HGTV-infused visions of what their next home should look like, so first impressions really count.

I tell my Seller's you only have opportunity to capture the Buyer, don't miss it.

Sellers: You cannot stuff in the closet, etc. it is not the answer. (Buyers will be opening that closet door, drawers, etc..) Pack up your personals like you were moving (best case: you are), and put all but the essentials in storage, if needed. Get the carpets cleaned, do the dishes, make the beds, mow the lawn, shovel the snow, dust, sweep and mop. Be honest and tell your Seller if the house is clean enough. I tell my Sellers if you want to sell your home today it must look like a showplace, especially is they want top dollar.

3. Agents are you allowing Sellers to overprice their home just to get a listing: Buyers already have lots to do before making the largest purchase of their lives. They have to wrangle their finances into order, jump hoops to qualify for a loan, collect the cash for down payment and closing costs, and invest sometimes hundreds of hours into market research and house hunting. With all of this already on their plates, the prospect of trying to negotiate down a crazily high asking price is just too much work (and too outside their comfort zones) for most buyers to deal with. The average buyer won’t even bother looking at your home if the asking price is clearly high and off base compared with other similar, nearby homes for sale; they’d rather sit tight and wait . Do your Seller a favor and don't take a listing just to have a listing.

Sellers: Price to sell from the beginning. Work with your agent to determine a price that is supported by the data on how much nearby homes have recently sold for. You’ll save yourself a lot of time and anguish and get a lot more legitimate bites from serious, qualified buyers. You will also eliminate the doubt Buyers and Buyer's Agent may have about the home appraising.

1. Buyers please stup unjustified, extreme lowball offers, pretend you are the Seller when writing an offer. It’s no secret that the buyers have the upper hand in many markets right now. But let’s be realistic, here. No seller can afford to give away their home at a price far below what it’s worth on today’s market. Lowballing a seller at a price far below the recent sales prices of similar homes in the neighborhood on the ‘let’s-take-a-stab’ plan, is highly likely to turn them off. And that, in turn, will cause the seller to view your offer - and you - as disrespectful and wasteful of their time. I give my buyers a market analysis of the area so they can make an educated decision based on facts. Don't submit an offer where you know there is question. You either want to buy a home or you don't.

Please be respectful of your agent, they only are compensated when a house closes

Buyers should ask their Buyer's agent questions of anything they don't understand and Agent's need to EDUCATE their Buyer. Ask your agent to Review the recent sale prices of similar homes in the neighborhood (aka “comps”) before you make your offer. Also, ask them to help you factor in other market data, like the average list price-to-sale price ratio and the average number of days neighborhood homes stay on the market. It’s all right to come in lower than asking, if the market data supports such an offer; just be sure your offer is based on reality.

2. Buyer-side mortgage fails: Plenty of employed buyers with decent credit and cash in the bank have been turned down for a mortgage these past few years. That means buyers can’t assume (a) that they’ll be approved for the amount of loan they need to buy the house they want, or (b) that they’ll be approved for a loan at all. Your inability to get approved for a home loan can create all sorts of problems not just for you, but also for your home’s seller. The average seller’s worst case scenario is that they accept your offer only to find out a few weeks, or months, later that you can’t get the loan you need to close the deal.

Buyers before you begin looking for a new home you need to know where you stand in the mortgage process. Are you a ready, willing, and able buyer. Some of you think you are until you sit down with a mortgage professional and find out that you are not. You set yourself up for disappointment. Your home buying experience is supposed to be a POSITIVE experience. This experience is your responsibility to manage. Make sure you get a clear understanding of the amount you qualify for, then work with your real estate agent from there to determine the price range you should house hunt in. And whatever you do - don’t buy a new car, open new credit cards or even change your line of work before your escrow closes, unless you consult closely with your mortgage professional before you make that move. Many factors cause buyers to lose the home of their dreams.

I ask Sellers to work with their agent to vet buyers before they sign a contract. Factor in their down payment and earnest money deposit, and feel free to counteroffer these items, not just the offer price. It’s not overkill to buyer’s mortgage broker to see how reliable the buyer’s pre-approval really is.

3. Buyer's do you bash the seller’s home in front of them? Not a good idea. Home bashing happens when buyers start bad-mouthing (aka “trash talking”) the place and/or the neighborhood in hopes of getting a lower asking price. Examples: pointing out all the foreclosures in the area, saying the house down the street just sold for much lower than the asking price on this house, saying you’ll need to rip out the entire kitchen before you even consider moving in - saying any of these things to a seller who happens to be at home during the showing or the inspection is probably one of the fastest ways to turn them all the way off.

Just remember Buyers bad-mouthing a house or neighborhood won’t work to get you a lower price, instead, it only irritates the seller. Remember: homes hold incredible emotional experiences for owners. Make an offer you’re comfortable with and keep the negative comments to yourself.

If there are legitimate, factual reasons underlying your decision to make an offer at a price the seller might see as a lowball, ask your agent to respectfully communicate those facts to the seller’s agent.

The Ben Lang Properties Home Selling Team recently had the privilege of listing their newest home in the highly sought after Country Club Village of Rochester Hills MI.

This immaculate 4 bedroom, 3 bathroom colonial is nothing short of move-in ready, with its gorgeous hardwood flooring and crown molding throughout the spacious interior.

Each room is donned with the luxurious finishes, including further upgraded lighting and custom bookshelves in the family room.

With its professional landscaping, and brand new front door and slate porch, you are sure to fall in love at first sight with this Rochester Hills MI home.

This Rochester Hills MI home is located in Country Club Village of Rochester Hills, which offers so much to its residents!

Within Country Club Village of Rochester Hills, you can enjoy walking/biking trails and sidewalks that wind throughout the community, and a community clubhouse with tennis courts, a swimming pool, and so much more!

Click Here for more details on this Rochester Hills MI Home for Sale!

Ben Lang Properties specializes in luxury homes in Rochester Hills MI, and when you work with Rochester Hills Real Estate Experts, you can rest assured you are in good hands!

Buying any home is a big decision and requires much thought and consideration – the same goes for buying a foreclosure home. The real estate professionals at Ben Lang Properties as always would like to inform Macomb County and Oakland County home buyers that there are many things potential home buyers should know before investing in a foreclosed home.

With the housing market back on the rise, many people will want to snag those foreclosures and bank-owned properties while they can. Before any Metro Detroit home buyer begins searching for homes to buy – Ben Lang Properties suggests a home buyer consider the following tips for buying foreclosures first.

1. Identify the reason for purchasing a foreclosed property

Do you intend to occupy the property? Do you plan to flip (resell) the property with or without repairs? Do you plan to rent the property?

2. Choose a real estate professional who is experienced with foreclosure properties

Most Oakland County home buyers and Macomb County home buyers tend to work with a buyer’s agent when purchasing REO homes. These Realtors can help a home buyer work out disclosure agreements, fees, preapproval letters, and negotiations.

3. Establish the foreclosure properties market value

A Realtor prepared Comparative Market Analysis is often the best bet to determine real market value. Ask for a report that contains information on:

4. Plan a property inspection

Utilities are usually shut off when a foreclosure property goes on the market. Banks may arrange for utility turn-on for a two or three day period after the property goes under contract. Sometimes home buyers must pay for re-winterizing the property, this is something to discuss with your Realtor.

5. Calculate repair costs.

Many foreclosures are in a state of disrepair ranging from mild cosmetics to major rehab candidates, and the buyer is usually financially responsible for all repairs on REO homes.

6. Patience pays

When you buy a foreclosed property from a bank, many people are involved, so home buyers need patience. Offers made on REO homes typically go through a longer process than other types of home sales and delays are inevitable.

For the full story on buying foreclosures, visit our blog at BenLangProperties.com

Ben Lang Properties specialize in selling Oakland County Real Estate. Troy Realtor selling Metro Detroit real estate, working with Keller Williams Realty in Troy Michigan. See what past clients have to say about Ben Lang. Working withshort salesand foreclosuresin this challenging real estate market to get the best deals for home buyers.

The Preserve, Lake Orion MI- Home Prices UP Again!

Good news for homeowner in The Preserve in southern Lake Orion MI. Median sales prices were up 3 1/2% from last year and up 7.3% from 2009!

List price to sale price percentage ranged from .4% of asking price to 7.8% of asking price and one house sold for 3% over the list price. There was only 1 foreclosure listing and no short sales. Sale prices ranged from $212,000-$274,000.

The good news for buyers:

1. Compared to many areas there were relatively few distressed sales even in the worst of times
2. Prices never got so low as to change the socio/economic make up of the sub
3. Interest rates are so low you get about $100K in buying power

Number 3 is quite interesting. Let's look at 3760 Acadia. Last year it sold for $274,000 which gives you a payment of about $1010 (20% down, principle and interest, 3.92% interest rate which was the average for Jan 2012). If you were to pay that same price at 2000's interest rates you would have a payment of about $1616. Put another way- at the 8.05% interest rate of 2000 you would need to have paid $170,000 to have the same payment as 2011's buyer.

The good news for sellers is that prices are up the past couple years.

The even better news for buyers is that with interest rates it feels like prices have kept going down. And when a buyer gets approved for their mortgage they are truely getting approved for a certain house payment and those payments are super low.

The Preserve

Lake Orion MI

Search The MLS

Home Evaluation (CMA)

Jackie Hawley
Keller Williams Realty, Clarkston
Jackie@JackieHawley.com

Cell: (248) 736-6407

www.MiRelocation.com