“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home Debra Drummond | MichiganMoves Real Estate in SE Michigan

Debra Drummond | MichiganMoves Real Estate in SE Michigan

Blog_tag

Taking The Leap & Leaving The Nest

12-04-08
Debra Drummond | MichiganMoves Real Estate in SE Michigan

There has never been a better time to buy your first home than right now. Given the current economy, you probably think I'm crazy, but hear me out.

First of all, interest rates are still really great and there are rumbles about them getting better. Second is the first time homebuyer tax credit passed this year. And third, the mortgage is likely to be cheaper than paying rent.

Case in point, my daughter.

After she graduated from college in May, we started running some numbers in preparation for her leaving the nest. She was looking at between $600-750 per month for a small apartment. Based on what I was seeing on the market, I suggested we investigate foreclosed & HUD homes.

Long story short...we found a really great 3 bedroom, 2 bath brick ranch with finished basement, fenced yard and 2 car garage for $50K. Her payment? Under $600 a month!

Are there still great deals out there? Absolutely...and some of them are not even HUD or bank-owned. Some sellers just need to move now.

If you're been thinking about taking the leap, be sure to work with a buyer's agent who can look out for your best interests and research potential problems. And if you check out HUD homes, make sure make sure you're working with an agent whose brokerage is approved by HUD to submit electronic bids.

0 Comments
Blog_tag

October Market Report

11-25-08
Debra Drummond | MichiganMoves Real Estate in SE Michigan
For the 10th straight month in a row, sales were up over 2007 for total of 27.7% in the MLS area. With lots of competition from bank & government-owned homes and short sales, owners are continuing to hold their homes off the market until it stabilizes so the number of homes on the market has continued to decline.

Homes priced competitively are selling and the number of starter homes (those priced under $125K) sold this year has surpassed 2007. In fact, 53% of all homes sales were below $100K!

Activity has definitely slowed with all the market chaos so next month's numbers will be interesting to see. It's still a great time to buy for first time buyers, particularly owner-occupied HUD homes which require only $500 down. For example, my daughter recently bought a home that was far cheaper than what she would be paying in rent!

Like shifting sands under our feet, it's difficult to keep up with the changes happening around us, but here are a few links to some of the important items that have happened this year:
Mortgage Forgiveness Debt Relief Act
Summary of Economic Stabilization Act by the National Association of Realtors
Tax Credit to Aid First Time Homebuyers by the Internal Revenue Service
0 Comments
Blog_tag

Big Bad "B" Words

11-23-08
Debra Drummond | MichiganMoves Real Estate in SE Michigan

Bush, Bridge Loan, Bailout...lots of "B" words are being bantered about the cause of our current financial crisis and possible solutions.

We here in Michigan never really enjoyed the recovery after 9/11 the way the rest of the country did. Now with the meltdown of the economy, the auto industry has taken a huge hit. Unfortunately, Congress adjourned for the Thanksgiving holiday without making a decision on assistance for the automakers.

Mixed feelings aside about what the best course of action should be, I thought Rep. Thaddeus McCotter stated Michigan's case pretty well.

2 Comments
Blog_tag

Northville Veteran's Day Tribute

11-11-08
Debra Drummond | MichiganMoves Real Estate in SE Michigan
On the 11th hour of the 11th day of the 11th month, the Armistice was signed ending World War I. Veteran's Day was established to honor that momentous event.

Today, the Northville VFW along with the Ladies Auxiliary and a number of other veterans gathered around the flagpole at 11 AM.

The brief ceremony honored the service of veterans past and present, ending with a 21-gun salate and taps.

Afterward, the Ladies Auxiliary provided a lunch of sausage and biscuits.
0 Comments
Blog_tag

Once a Marine, Always a Marine.

11-10-08
Debra Drummond | MichiganMoves Real Estate in SE Michigan

Today, November 10th, 2008 is the 233rd Birthday of the United States Marine Corps.

Whether active duty or veterans, on this day Marines stop to reflect on the proud heritage we share with all those who have ever served in the Corps.

It's hard to describe the commradarie and esprit de corps felt by Marines. I think LtGen Carol Mutter said it best "It's the branding of that eagle, globe and anchor on your heart...nobody else can quite understand, who hasn't been a Marine, who hasn't earned that title".

I am privileged to be a member of this Marine brotherhood, and ask you to join me in saluting all veterans for their service to this great country of ours!

Please enjoy GoDaddy CEO Bob Parson's Marine Corps Birthday greetings. Semper Fi!
4 Comments