Mike Bowler Sr. CRB, GRI, ePRO, RECS, SRES

The good news for buyers in the greater Lansing real estate market is that now is a great time to buy a house if you have a job, if you have a good credit rating (700 or above) and you have the motivation to be a home owner vs. renting. The all American dream is more affordable, more feasible and more realistically priced today. here's why:

1. Interest rates are low - Average 30-year fixed mortgage rate 6.0% - 6.25% 9/25/08

2. Housing affordability index is 117.7 which mean a family earning the median family income has 117.7% of the income necessary to qualify for a conventional loan covering 80 percent of a median-priced existing single-family home.

3. Selection of homes is plentiful according to the latest GLAR statistics there are 4483 residential homes on the market in the greater Lansing area. 2296 homes sold year to date. There have been 119 pending sales in the past 10 days compared to only 70 for the same period last year. This shows signs of positive activity regardless of the banking crisis that is currently taking place.

4. Sellers have reduced prices to new lows - according to the latest CBHB quarterly report the average home price decreased 20.12%. This does not necessarily mean all homes have come down this far in price, however, there are substantial price cuts compared to the past 5 or 6 years overall.

5. Housing and Economic Recovery Act of 2008, passed by Congress earlier this year, provides up to $7,500 in new tax credits to first-time home buyers who purchase before July 1, 2009. This is not a hand out, it has to be paid back, however it's a 0% interest loan, which will help buyers get into their first home.

If you are interested in getting more facts on why is the time to buy, you can visit the NAR site. Mark Twain said "The secret to getting ahead is getting started" you can do that by visiting MikeBowler.com to search all homes available in the greater Lansing real estate market.

"Expect the Best" Mike

Mike Bowler Sr.

Coldwell Banker Hubbell Briarwood

Lansing, MI 48917
517-492-3400 mike@mikebowler.com

www.mikebowler.com

Here's twenty nine questions and answers provided by the National Association of Realtors for the first time home buyer in the greater Lansing real estate market, who wants to learn more about taking advantage of the new interest free loan being offered.

I had a chance recently to throw out the question to some of my LinkedIn connections on how they as, mortgage brokers and Realtors have been taking advantage of this new incentive for their clients and customers. Here's what they had to say:

"In a market where currently we have a situation of low interest rates and high amounts of inventory, the “credit” gives many potential buyers yet another reason to get into the market." Hank Baily, Athans, Georgia Area "The tax credit could help as professionals we have to be sure the buyer knows":
-Only for first time buyers (3 year window) from 4/9/8 to 7/1/9.
-There is no way, as of yet, to use the money as down payment.
-Is a credit (paid after the fact) and is a loan paid back $500 per year.
"The best way to show to a home buyer is the one time bigger refund ($7500 bigger refund or lower taxes due) and let them decide if that will help their budget". Bill Powell, Mortgage Broker

"People who are qualified need to take a serious look at taking advantage of it even if all they do is put the money into a passbook saving account where they can have access to it to make the repayment easy". Judith Abbott Coldwell Banker Agent, Dallas TX

"It seems to me it’s just a matter of educating your 1st-time home buyer to use the money responsibly by investing it in improvements to the home. The improvements should be of a nature to increase its value when they decide to sell it." Phil Nassaux, Austin Texas

Well there's some great advice above from dedicated professionals who are out there working with buyers and sellers on a daily basis to help fulfill the all American dream of home ownership. If you are interested in learning more about how you or someone you know can take advantage of this incentive, feel free to contact me today. Let me also take this time to thank these individuals for their contribution.

"Expect the Best" Mike

Mike Bowler Sr.
Coldwell Banker Hubbell Briarwood
Lansing MI 48917
517.492.3400 www.MikeBowler.com

Find the key to getting the most exposure for your real estate in the greater Lansing real estate market by talking to your agent about their Internet marketing plan for your house. The following questions, if answered properly will get your home the most exposure, which will generate traffic and interest. Top priority of course is pricing your home competitively based on recent sales.

1. Do you have a personal website, that syndicates out to other sites on the web?
2. What are those additional sites that my home will be marketed on?
3. If what fashion will you drive traffic to these sites?
4. Will you use keywords, pinging programs and social networking sites?
5. Will you post my house on a real estate Blog with links back to my property on your site?
6. Will you use a program like SawItOnLine to build ads for Craig's List and other media's?
7. Are you using a smart phone with instant email to respond fast to buyer inquiries?
8. Will you post my house on major Portals like Trulia, Realtor.com & Zillow?
9. Do you have marketing plans to talk about the amenities of my community?
10. Will you keep me abreast to all marketing, activity and communication by email?

If you would like to learn more about marketing your home in today's challenging real estate market, by getting the best exposure, feel free to contact me or visit my website today!

"Expect the Best" Mike

Mike Bowler Sr. ePRO, CRB, GRI, SRES

Coldwell Banker Hubbell Briarwood

1020 S. Creyts Road, Lansing, MI 48917

Phone: 517-492-3400 Fax: 888-832-6203

email: Mike@MikeBowler.com
Website for Clients: MikeBowler.com
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Right now in Delta Township there is an excellent selection of inventory to pick from on some great homes. Interest rates dropped below 6% last week to put a spark of enthusiasm into the market and increase hits on most real estate websites. If your thinking of moving to Delta Township area make sure you check out the opportunities offered by the Delta Parks and Rec Department. Enrichment classes for kids and adults of all ages. You'll also find some information about Delta Township's greener awareness program and recycling program. Delta Township is also connected to two great school systems, Grand Ledge and Waverly. If you are looking for demographics about the community and desire additional information feel free to contact me or visit my website.

"Expect the Best" Mike