Jimmie Graham

There have been several blogs, articles, tv ads and even lenders and realtors stating how important the preapproval is. Well it's important to us Realtors because we like to know exactly the price range we are shopping with our clients. It also let us know how motivated our buyers are. We'll they are some buyers who still like to put the carriage before the horse. As I tell them the day you wake up and decide you like to purchase a home. You have to ask yourself are you in a financial position to do so?

As Realtors do we set the right expectation on how important the pre approval is? I know it's just a piece of paper nothing valid until there is a signed purchase agreement that allows the lender to dig a bit deeper into the clients financial profile. Each time I take a client out for the first time...I just listen simply because they will tell you exactly their financial story without asking. They may talk about credit scores or down payment or financing options..yes I know a little bit about though my first question is have you spoken with a lender about your financial situation in regards to purchasing? Ok this is what I need you to do on our next visit, we need talk to a bank or lender about preapproval to see exactly what we qualify for? I give them some names I know and follow up.

I don't mind showing homes before I see the preapproval..it's like previewing homes and practicing my skill as an agent at the same time digging deeps with clients. (That's my MO) Overall we as Realtors are look at as experts. We have to set the right expectations up front. The market is shifting and guidelines change constantly. I know it's me venting but we need to have buyer's understand without a preapproval or speaking with a lender...not much else we can do here but send emails of properties that are on the market. If your buyers are serious about purchasing. Then they must be serious about the financing as well.

I remember the day like yesterday....hell all of us remember that day. It was like a left hook coming out of no where. At first I thought was a joke...someone just pulling somebody's leg. Once the news broke and journalist reported that we have been attacked by terrorist....it became reality.

I really didn't know what to think but after i saw people jumping from buildings and the towers collapsing...I felt like i was in a movie. This really can't be happening..not us..not USA..the greatest country in the world.....those were my thoughts at the time. That day I thought it would continue; didn't know whether or not if the bombing would go on or what city would next. Like other Americans I was scared and afraid that something else would happen.

Though like the Americans we are...we stood up to the challenge....we lost soooo many people; I have no clue of how they felt...but I empathize with them. We overcame, we let go of our stupid pride and ethnic background and came together. And here we are today with troops overseas protecting us from an event like we had to not happen again. No we won't forget...like Pearl Harbour...we won't forget....like the Oklahoma bombing...we won't forget and the bombing at the 96 Olympics....we won't forget....we remember those we lost...we move on and become stronger....So on today ..it's not about real estate or appraisals or lenders or title companies.. forget about yourself and remember the lives that were lost and thank the soldiers keeping us safe to live our lives.

As I was driving preveiwing properties for clients. I've notice that there are quite a number of fsbo's on the market. The more I saw the more I thought. Are they really saving money? I know they want the most out of their home. Are they realistic with the price and current market conditions in the area? Do they know the percentage of buyers looking in that price range? A lot to think about. I think they don't have a clue. So who is calling them to see their homes? Whose stopping by to look? Who is thinking about putting an offer in? I know it's not the buyers Realtors work with....maybe but not often. I wonder if the seller have a loan officer to pre approved the buyer before they make an offer or find out if they can be financed? How about getting creative? Have they thought about land contract? Probably not. Since everyone is one the internet looking for homes from various websites. What website(s) are they viewing yours from? What will happen if they can't sell their home? Will they be able to lease? Are they able to help a buyer with closing costs? Are they looking to buy a home themselves? Don't know...maybe. I wonder if I had a buyer will they cooperate with my broker? I wonder if I had the listing will they pay me a full commission? Hmmm how motivated are they? Do they have legal protection if something were to go wrong during or after the transaction occurs...don't know. Well only way to find out. I give them a call. Yeah that's what I do.

Ypsilanti homebuyers/shoppers...School is almost back in. Can't believe that time went by so quick. Well for me it's because I've been in school the whole time. Well we College students returning and some beginning. I remember it was fun and exciting me. Looking for great deals on rentals whether it was condo or a house and even apartments. Though some love the experience of campus life.

Though we don't have long. Now time is approaching on the deadline on the homebuyer tax credit. Want to help your kids out with tuition or books and supplies? Think about this. The tax credit is designed for time homebuyers and since your parents may not qualify....doesn't mean the kids and become recipients of it. To the parents you can buy your daughter or son a condo or a small house and their name can be on the title which can entitle them to a $8,000 dollar tax credit. Check with a local title company to learn about the details. Wonder what that money can do. That pays for at least 2 semesters without financial aid or you save $8,000 in your pocket. Sounds good right.

This would be a good way to start off a good school year. So let's think logic, economics, a little accounting, some phsycology, and of course business. Make a good and smart investment..kids will thank you later...and you will thank yourself.

In three years I've spent a great deal of time looking for a niche market. I've look at new builds, condos, old and new subdivisions. Just recently I became fond of older homes built during the 1920s or 50s. I took a look at the old west side of Ann Arbor and thought how well these homes have been kept up. The thing that drew me to these homes were that they had there own unique style to them.

Now me being in Ypsilanti I took a look at Normal Park. Normal Park has a historical feel along with the homes to go with it. I've seen quite a few homes in the area. Each one are different. The most impressing part about it is that these homes like the ones one westside of ann arbor are well kept.

There is a lot pride in these neighborhoods. It gives the city an identity that everyone is familiar with. It feels like a real neighborhood nothing cookie cut like most of the newer subs. Great place to live and relax and somewhere you'll be happy to come home to.

Again after spending time looking for a market to have....I think I've found one!