Livonia, MI

I saw a beautiful Livonia short sale home about 3 months ago with one of my clients. At the time the listing was being touted on the MLS as "short sale approved". My clients were two weeks late on putting in an offer and their offer was going to be a back up offer. The listing agent marked the Livonia short sale home pending and my clients bought a different Livonia ranch home.

My clients were about two weeks before they closed when the other listing agent with the other short sale called. His deal had fallen apart. He wanted to know if my clients were interested. I said no, but I told another Remerica agent in my office about the Livonia short sale.

The other Remerica real estate agent talked to the listing agent. The listing agent said the short sale was just two weeks away from closing. So the buyers agent put in an offer, go it accepted, and rushed the mortgage person to get it ready to close. They had it ready to close. Unfortunately the listing agent wasn't ready at that time.

Then 60 days later the listing agent scheduled the closing. Everybody was at the closing table only to find out that the 2nd mortgage company never signed off on the sale. So it didn't close. It was never close to "SHORT SALE APPROVED''

The listing agent didn't know what he was doing.

He didn't have a clue.

His title company should have never scheduled a closing without the approval from the second mortgage company.

Unfortunately this happens a lot when buying and selling Metro Detroit real estate. Some metro Detroit real estate agents just don't know what to do when working with short sales. So every time I do a short sale I ask the listing agent questions. I can ferret out some of the issues and problems that might arise and whether the deal has a chance of closing. Unfortunately we can't always tell when the listing agent doesn't know what they are doing or when they are "fibbing" about the short sale.

So the bottom line is: whether it is a Livonia short sale home or any Metro Detroit short sale there is a chance that is may not close. There are things that you can't control, things the listing agent can't control, things the seller can do to make it close. So let your agent ask the questions and listen to your agent's gut instincts.

If you are interested in Livonia Michigan Houses for Sale here is what we have been experiencing. There is currently approx 425 available houses for sale in Livonia Michigan. We are experiencing less inventory than we have had over the last few years but are being told that some of it should be coming back. Many potential buyers have been putting in offers in an attempt to purchase their Livonia house before the tax credit expires. This seems like it has caused homes to sell faster than in the last few years. It also may be pulling from the future buyer pool of 2010, time will tell.

For more information on Livonia Michigan feel free to visit www.BobandTeena.comor www.LivoniaBusyBees.com or email us at info@BobandTeena.com anytime.

To search most available Livonia Michigan Houses for Sale try following this link LivoniaHomesforSale. Or if you are looking for real estate agents (Realtors) to help you find your home we are available to help anytime. Just call, email or stop by the office located at 6 mile and Newburgh.

Whether you are selling Livonia real estate or any Metro Detroit real estate here are tips how to keep your house safer when selling it. What I mean by safer is keeping your valuables safer.

When you sell your house you need to put your valuables out of reach of potential criminals. I'm not saying potential lookers or potential home buyers are going to steal from you. But why give anybody temptation.

So here are my tips:

• Put your jewelry in a safe, lockbox, or at a trusted friends house.
• Guns, especially pistols should be hidden, or locked up
• Cash, change jars, wallets, payrolls should not be left lying around
• Documents that have account numbers, social security numbers should not be left out on counters, or in top pull out drawers.
• Anything valuable that is easily pocketed or put in a purse should not be left around.

Potential buyers open drawers, and open closet doors. We as real estate agents can't watch every movement of buyers when we go through houses. Anybody that is a thief and is looking to steal has it already figured out how they are going to do it. They know where to look. They know where you will keep your valuables.

So be smarter than them store your valuables somewhere other than your home when selling your house. The reason I am writing this is because I was in a Livonia home today where in the kids room there was a hundred dollar bill laying around. At some point that hundred dollar bill is going to be missing. So be sure to get your kids piggy banks too.

I hope these Livonia real estate and Metro Detroit real estate sales tips help you.

Usually when people think of fall color they think of New England, especially Vermont or Connecticut. Every year though, northern Michigan, the Upper Peninsula and northern lower peninsula are inundated with tourists seeking the brilliant colors of fall. The fall color tours are one of Michigan's biggest seasons. Since I'm posting these so late in the year they may not do justice but at least you get the idea.

I wanted to let people know that Southeast Michiganhas its fair share of fabulous color itself. Quaint towns just outside of detroit like Plymouth and Northvillehave parks and downtowns that flash in an array of oranges, yellows, rusts and just about anything else you can think of.

So if your clients want a fun vacation in late September or October, they wont go wrong coming to Southeast Michigan.

If you are selling your Metro Detroit home here are the two areas you may have liability.

1. Tax liability - currently there is no tax liability because President Bush declared there would be no tax liability for on a principal residence. It hasn't expired yet. Before President Bush did that the banks would send out a 1099. The borrowers would be liable for the tax on the deficiency. If it is a investment property you can get a 1099.

2. Deficiency liability - Difference between sales price and loan amount. The banks can come after the borrower for the deficiency. The only protection the borrower has is if you get a release of deficiency letter for them. Many real estate agents are not following up on this. Some banks are putting the release in the short sale letter others are not. Some banks require the seller to be responsible for the shortage. It just depends on the bank.

So be careful and check with an attorney and your CPA also on what your liabilities may be.