Jimmy Graham

I know that there has been a lot of talk about the Homebuyer tax credit. It's an incredible incentive to purchase. Though, for those that are waiting for prices to drop......let's just say you will miss out on the great deals that are already out there.

Now I've mentioned you have only 4 months to take advantage. Why? Ok well let's walk you through the process. First, you will have to shop for a mortgage...remember the minimum credit score for FHA is 620 and the minimum down payment is 3.5%. Second, let's look at what homes are available in your price range/ area or what you are approved for. Third, let's work with a Realtor who understands the current shift in our market here in Ypsilanti. By this time we've spent maybe two and halfs weeks or less getting to this point. Now consumers in the Ypsilanti area now that most of our homes on the market are either foreclosed or subject to a short sale. Now we must understand with the bank involve it takes more time than usual. This part of the process could take as little as weeks or as longs as a couple of months.

After that it's negotiations, who will take care of what? Is the bank? or is it you? will it be a third party? Will you have to come up with extra? Will the appraisal come back under or over the sales price? Once that is settle and you have clear title..so let's get to the closing table....now will all the funds be there? We hope so?

I say all that to say this....this is a great opportunity to purchase if you are able to. The process I just explain to you takes a while. You don't want to wait at the last minute and find you're not able to take advangtage of the tax credit. Remember the deadline is November 30th. It's almost August...so let's get going.

Today was a good day as I attended the Women Council of Realtors. Today they brought in Martin Bouma of Keller Williams and Matt Dejanovich of Real Estate One. These agents are very good at what they do. They have very different styles but one thing in common.....productivity. For someone like who is really trying to have a business model... I really took notes. Martin Bouma has a team of 11 or maybe 12 people while on the other hand Matt Dejanovich is a one man show. They produce a great deal volume in sales. Matt credits Dave Dean for his success in the business. Dave Dean is one of our agents in the office here. Though Matt said something that really stuck to me. It's "Capture the opportunity to do business to go through you". What is key from both is to be productive. Martin developed a system and team structure to help him be as successful as he is today. Well I'm going to take bits and pieces of their styles and put it into my own.

I really enjoyed it a lot. I believe the other realtors in the room enjoyed it as well. I thank the people of the Women Council of Realtors for putting that together. It's was worthwhile. To those that miss it. Well you just missed over 47 years of knowledge between the two. Hope it comes around again.

I was just reading an article from the MAR ( Michigan Association of Realtors). The Stae of Michigan are requiring Loan Officers to be licensed. I think this is a good idea. Now i don't know how much education a Loan Officer has to have before getting licensed. I feel it may cut down on all the horror stories about mortgage fraud and schemes. There is a website www.michigan.gov where you can see whether or not if you loan officer is registered or not. Again, I don't the requirements or the amount of education that's required, perhaps a loan officer that's already registered could tell me that.

This can provide a peace of mind to people searching for mortgage. As well, it provides a peace of mind for realtors as well. Take a look at the website and see if your loan officer is registered and if not you want them to be. It didn't go into great details though this is something I feel would be a benefit to the real estate industry. Like I said before it could possibly cut down on the frauds and schemes that people have to be a victim to.

Realtors in the state of Michigan make sure you follow up on this. If you find new info. please let us know or talk to your loan officer about it.

Just FYI

As of late, The Keller Williams Ann Arbor Market Center has been pretty busy. Even the people who rarely do business are getting a little tied up with leads. What does it means? It seems as the prices continue to fall as well as interests rates....the buyers are looking. Let's not forget the weather is a lot nicer..and more buyers are willing to drive around a bit.

Though I was busy with school at Eastern Michigan University. I was still getting calls on properties; that some of my past clients wanted to see. Does that means Ann Arbor has a pulse? Well I can't say. Though I do know there are a great amount of deals on the market just waiting to be taking advantage of.

So for those who are sitting idle....waiting for the market to bottom out. Well let me say this...If you wait long enough..You will miss out on what could be a great investment for you! Take a look! I'm not selling anything but information that you can get right here on Active Rain or from your local economist(that would be your realtor).

Get and see what's available to you...never know what you might fine...we have a pulse...don't let it flatline.

To search homes visit www.letmewelcomeyouhome.com. Feel free to contact me with any concern or questions.

Jimmy Graham, Realtor, Keller Williams Realty, 734-995-9400ext229