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It's a big country and you can be sure that each year someone will win the lottery, someone will be hit by lightning, and someone will buy a home at a steep discount, with predatory terms, and no money down. The odds in every case are grim.
The essential issue is NOT buying property with no money down, it is buying property that can produce a positive cash flow and/or be sold at a profit. Unless one or both of these conditions can be met, then the economics of buying a home with no-money-down are unlikely to make sense.
Those buying under the VA program can buy with no money down, and residential financing with 5% down or less is widely available, especially for first-time homebuyers. However, all of these programs require appropriate credit and income.
As in all aspects of life, be cautious with the "Get Rich Quick" approach to anything. In my opinion, real estate is best viewed as a mid to long term and low risk investment. If you are looking to get rich quick real estate investment might not be the best place to do so. If you are looking for a sound investment that will provide the positive cash flow for you give me a call anytime at 989.494.1BUY (989.494.1289) or visit my website 24 hours a day/7 days a week!
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To Those That Are Capable of Buying A Home But Choose Not To:
There are plenty of good reason to be buying a home right now: Up to $8000 in FREE money, interest rates at an all time low, and home values at an unprecedented low. Yet there are a significant amount of people "riding the fence" between homeownership and well.....no homeownership. I am hoping to get the answer once in for all from you.
On behalf of (literally) hundreds of sellers in Shiawassee County: Why are you choosing not to buy a home right now?
Don't get me wrong. There are quite a few active buyers in Shiawassee County looking at homes in the frigid cold Michigan winter. I have good reason to believe that with all the incentives and current buying conditions that there are more people out there that could (and should) be buying their next home right now- they are just choosing not to.
So I present you with a challenge that, if accepted, will reveal the answers to questions that sellers, other buyers, and people in the real estate profession would like to know: Tell us all what your reasons are for not choosing to take advantage of all the perks of buying a home right now versus waiting until conditions become less favorable.
Share with us what it would take for you to buy a home right now. Are there more incentives you need from the government, is THE perfect home for you just not there? Please SHARE with us so that we might LEARN the reason this market has not improved as many of us have hoped it will.
If enough of you choose to ENGAGE in this discussion we might be able to decipher the mystery. We may finally know the real reason that the Average Days On Market for a home in Shiawassee County in 2009 was 150 days and why the average sales price in Shiawassee County in 2009 was only $75,000. By the way, that is out of only 463 single family residential homes.
So please respond to my challenge. Enlighten us all. So that we can do our part to make conditions better, or understand why you are not willing to come down off of that fence and own your own piece of Shiawassee County (yet).
We will be waiting for your input....patiently....done yet?.......ok......how about now?
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May your new investment purchase in Perry MI flip quickly.
Thank you for allowing Complete Realty, LLC to assist you with your real estate needs.
Angie Ridley
Complete Realty, LLC
Angie@AngieRidley.com
810 744 4600
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As a BOD member of the Shiawassee Association of Realtors I was fortunate enough to take part in this year's strategic planning meeting. Most of the time strategic planning is somewhat of a daunting task.
Alice Martin from NAR was here to help us decide if our organization was headed in the right direction. If we weren't- she would help get us there. She did a wonderful job of guiding us through revising our Mission Statement as well as putting us on task to actually achieve our mission. So Kudo's to Alice Martin and NAR's Leadership Development Field Team.
After NAR's propaganda videos that Alice played for us based on the shift of thinking from small local MLS's to the larger regional/state/national MLS's that seem to be the way of the future, I felt as if NAR had more of an agenda to rid of the small MLS's that I had first realized.
I am not here to say that there is a conspiracy behind NAR "pushing" for a national MLS that THEY control. I don't know that this is the case at all. NAR does make a good case for "if it is going to happen, we are the ones who would be the best at keeping it accurate and secure".
So the point I would like to readers is this...if you are faced with having to draw a conclusion or form an opinion on whether you are in favor of keeping MLS's local or regionalizing make sure you research both sides of the issue.
The Shiawassee Association of Realtors is now faced with the obligation of doing the research to decide what is best for our REALTOR members as well as the public we serve.
I can't wait to post our findings...and whether or not we move forward with any changes at all.
Jeff McIntyre
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