Van Buren Township, MI

I was working with a client for about 6 months. They were looking for a newer home, over 1500 square foot under 175,000. We found one and got it closed. It was a short sale too. My clients were so excited.

They wanted to buy in Southfield MI but the issue we were running into was that the taxes were so high that my clients debt ratios were off. They couldn't buy the Southfield homes because they wouldn't qualify for the mortgage because the taxes were too high and their debt to income ratios were off.

We had one shot at a Southfield foreclosure but there was an end run by the listing agent to sell it to somebody that he knew. We offered $165,000 but it was sold for $137,000. How do you explain that to your customer?

We put in another offer on a Redford home but the issue was that the owner owed too much. The house was only worth about $110,000. The owner wanted $150,000 because he owed that much. So it was impossible deal. The bank wouldn't approve the mortgage because the house wouldn't appraise. So it was a dead deal before we even went to far.

We looked at many homes but we got lucky. We went and looked at a short sale Van Buren home that had a offer in on it. We got lucky. The day we went and looked at it the first deal fell apart. We were lucky. The agent told us exactly what we had to bid. He told us exactly what to bid so they would not have to start over.

The first mortgage bank had approved the short sale already at $165,000 with 3% sellers concessions. If we came in with an offer any different the short sale process would have to start all over. So my clients talked it over and they were happy with that price. So we put the offer in.

Well in less than a month we closed on the Van Buren short sale home! It was a race to the finish because the deadline was yesterday. The night before I would have said we needed an extension. But Eddie Orow of National Home lending pulled it off. Eddie and his assistand Danielle did a great job of pushing everything to get the job done. My clients got a beautiful newer house (only 4 years old) at a great price.

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Metro Detroit first time home buyer information

Today I was taking some Metro Detroit first time home buyers out looking at homes in Van Buren Township. It was a newer subdivision that had many of the same styles of homes. They were brick homes, 4 bedrooms, 2.5 bathrooms, 2 car garage.

We saw 6 different homes of various square footage and styles in the subdivision. Even I was confused after seeing 6 homes. What I recommend to all my first time home buyers is too keep a note pad. Or to keep the listing papers. When you come out of a house write some notes on the house.

Most importantly throw away the ones you don't like and start ranking them. Which Van Buren home do you like the best, what's number two, and number three?

My Metro Detroit relocation buyers do that every day. These people that relocate to Michigan have a few days to buy a home usually. They are focused and organized. They always rank the homes they like.

I hope this Metro Detroit first time home buyer tip help make your home search easy

Our job is to protect our clients interests. As you can tell from my last posts we sometimes go thru some trials and tribulations. As a real estate professional I want you get a home that you want. If you don't know me you will realize that I'm not one of those pushy real estate people. I'll continue to take you out to look at houses so long as you are a serious buyer. I sit back and let people make their own decisions about a home. I don't walk thru a house and point out how great it is.

I know buying real estate is sometimes just emotional. Home buyers "know" when the walk into the house that "it is it". Many times it isn't about money, about the layout, or the square footage. It's the feeling of "being their home". It is a feeling that the home buyer gets when they find the home they want.

Sometimes those dreams or wants are crushed by other people around the home buyers. Sometimes those dreams need to be crushed because the home has defects or the buyers didn't realize the potential issues. Many times I have been glad for family members pointing out potential problems.

As a real estate agent I can point out lots of problems on any home. But that isn't my job to crush my buyers dreams. You see no home is perfect and home buyers have to make the decision on what defects or minor issues they are willing to accept.

It may be an odd layout, the house may be on a busy street, a room may be too small, the garage may not be big enough, or the house may need work. Every buyer has different priorities and as an agent I don't influence those decisions. If I am asked my opinion I give it. It there is a major defect or problem that I notice then I talk about it. I'm not a house inspector but I am fairly decent as spotting major block basement problems. I'm fairly decent about estimating costs or calling contractors to find out the costs for clients. I can point clients to the right resources to get their questions answered.

As a real estate agent I want to be able to visit my clients years from now. I want my clients to be happy in the home they buy. It's my job to help my clients get the best deal possible, get the home inspected, and to close the deal. We sometimes have to solve the issues that pop up from mortgage companies, and the negotiations.

I myself believe you don't have to sell houses. People sell themselves the house once they find the right one.

Russ Ravary your Metro Detroit real estate specialist

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