As buyer's agent we need to know the answers to the Home buyer tax credit Frequently Asked Questions. It is very embarrassing if your buyer knows more about the changes in your profession then you do. Please see the below NAR FAQ Sheet for the Home buyer Tax Credit Changes.
READ it NOW!!! I assure you in today's instant messaging world, your buyer knows about these changes 10 seconds after they happen.
Happy house hunting.
Mike Sher, Max Broock, Bloomfield/Birmingham Michigan
(248) 644-4700 x242, mike@mikerealtor.com
Great news for all of you Buyers & Sellers!!! The Home Buyer Tax Credit is out and looks great.
Buyers:
Sellers:
Read below for more details below from NAR
Mike Sher, CDPE: http://hosted.cdpe.com/MikeRealtor/ Office: (248) 644-4700x242 Fax :(248) 499-1020
4120 Telegraph Rd, Bloomfield Hills, MI 48302
E-mail:mike@mikerealtor.com
CDPE (Certified Distress Property Expert) MCAR,
Short Sale Trainer Max Brook and Real Estate One Short Sale Specialist.
The Mike Realtor Team Blog - Metro Detroit/Oakland County Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc.
This is a Royal Oak Short Sale that I listed and closed. My seller needed to sell. He was stuck in a predator loan with a very high monthly payment. The balance of this loan was so high; I don't know how the borrowers could have qualified. The loan was a no doc, stated income "liar loan". The fees on the refinance were so high it was criminal.
The seller could not afford the loan in the first place and with the economic downturn he was certain to be foreclosed on. The Seller and Buyer were both thrilled by my services. Without a Short Sale, the seller would have been foreclosed on. This would result in years of debt and probable litigation.
PROFILE:
Location: Downtown, Royal Oak, MI
Type: Duplex 1930's, great location.
Condition: Need of some repair. Also need a variance to keep the multi-family zoning.
Lender #1: Homecomings Financial
Amount Owed: 310,000
Sold Price: $195,000
Negotiation time: 2 month
Amount owed by seller post closing: zero
Seller's out of pocket costs: 0
Hardship: loss of income, failing business and need to reduce expenses.
Happy Seller, Happy Buyer and One less Foreclosure in Michigan.
Call me, I can help
Sell My Home to Stop Foreclosure Now
Mike Sher
Office: (248) 644-4700x242 Fax :(248) 499-1020
4120 Telegraph Rd, Bloomfield Hills, MI 48302
E-mail: mike@mikerealtor.com
Blog/Profile: http://activerain.com/mikerealtor Web: www.mikerealtor.com
Linkedin: http://www.linkedin.com/in/mikesher CDPE: http://hosted.cdpe.com/MikeRealtor/
he Mike Realtor Team Blog - Metro Detroit/Oakland County
Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City
But, We Can Help!
This is a competitive real estate market. If you have to sell and can not, perhaps it is time to look at a Short Sale. The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.
This is a Novi Short Sale that I listed and closed. My sellers needed to sell. They were both affected by the economic downturn and were unable to continue paying for their monthly mortgage payments. Their incomes were reduced to more then half of what they were making at the time the mortgage was originated. The Sellers were thrilled with my services. Without a Short Sale, they would have been foreclosed on. This would result in years of debt and probable litigation.
Some Homes have become an anchor that prevents the owner from progressing with the rest of their lives. A SHORT SALE can cut the rope which allows the seller to move on to a brighter future with out the baggage of the past.
PROFILE:
Location: Island Lake Orchards, Novi, MI
Type: 2006 Toll Brother's Single Family Home, 3814 Sqft, 4 bed, 3.1 bath, basement and garage
Condition: Fantastic with granite counter tops, remodeled baths and more.
Lender #1: Country Wide/Bank of America
Amount Owed: $634,000
Lender #2: Community Choice Credit Union
Amount Owed: $90,000
Sold Price: $490,000
List Date: 02/07/2009
Closed Date 09/02/2009
Negotiation time: 2 month
Amount owed by seller post closing: Promissory note on the 2nd lien.
Seller's out of pocket costs: 0
Hardship: loss of income, failing business and need to reduce expenses.
Happy Seller, Happy Buyer and One less Foreclosure in Michigan.
Call me, I can help
Sell My Home to Stop Foreclosure Now
Mike Sher
Office: (248) 644-4700x242 Fax :(248) 499-1020
4120 Telegraph Rd, Bloomfield Hills, MI 48302
E-mail: mike@mikerealtor.com
Blog/Profile: http://activerain.com/mikerealtor Web: www.mikerealtor.com
Linkedin: http://www.linkedin.com/in/mikesher CDPE: http://hosted.cdpe.com/MikeRealtor/
he Mike Realtor Team Blog - Metro Detroit/Oakland County
Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City
But, We Can Help!
This is a competitive real estate market. If you have to sell and can not, perhaps it is time to look at a Short Sale. The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.
Here is a great site to evaluate if you are a good candidate for a Short Sale. You will find great content like:
Both of the links below will get you to the site. Call me if you have any questions or need my help.
Sell My Home to Stop Foreclosure Now
http://hosted.cdpe.com/MikeRealtor/
Mike Sher
Office: (248) 644-4700x242 Fax :(248) 499-1020
4120 Telegraph Rd, Bloomfield Hills, MI 48302
E-mail: mike@mikerealtor.com
Blog/Profile: http://activerain.com/mikerealtor Web: www.mikerealtor.com
Linkedin: http://www.linkedin.com/in/mikesher CDPE: http://hosted.cdpe.com/MikeRealtor/
he Mike Realtor Team Blog - Metro Detroit/Oakland County
Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City
But, We Can Help!
This is a competitive real estate market. If you have to sell and can not, perhaps it is time to look at a Short Sale. The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.
Over 40 Sales for 2009!! SE Michigan Real Estate, Short Sale Expert & Luxury Homes, in Oakland, Focus in Birmingham, Bloomfield, Beverly Hills & West Bloomfield. Call (248) 496-1572
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
