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.
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.
To all of my loyal Blog Readers and to those who just want to know where I am. I have accepted the position as the newest Associate Broker at Max Broock Realtors in Bloomfield Hill. Please feel free to contact me there for any of your Real Estate questions or needs. My new contact information is below.
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/
To all of my loyal Blog Readers and to those who just want to know where I am. I have accepted the position as the newest Associate Broker at Max Broock Realtors in Bloomfield Hill. Please feel free to contact me there for any of your short sale questions or needs. My new contact information is below.
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/
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. 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.
| Research area, meet neighbors before buying home By Eric Czarnik Many homes on the market are judged for their architecture, floor space and condition. But some experts are warning homebuyers not to confine their checklists to a house's four walls. The atmosphere of a neighborhood can have an extensive effect on quality of life, said Joan Downing, broker-owner of RE/MAX in the Hills in Bloomfield Hills. She said neighborhoods vary in quality on everyday factors such as neighbors, crime, aesthetics and schools. As a result, a savvy homebuyer should do independent research before any dotted lines are signed. "They should investigate, on their own, the crime statistics and the school information," she said. "Over and above that, they can search for crime in different neighborhoods." Because few neighborhoods are perfect, potential homebuyers should also weigh their priorities while conducting their research. For instance, parents will probably want to pay more attention to the schools. "Schools are going to be important to those clients that are looking to place children in schools or are buying in a family neighborhood," she said. "Some buyers may be empty nesters or singles. ... They may purchase in an area and never even question the MEAP scores." But while public data can be helpful to conducting one's own research, Downing warned that it could sometimes be outdated, fallible or easily misinterpreted. She said a trusted Realtor could offer better advice and more relevant statistics than Web sites such as Zillow because Realtors collect better data on home values and recent sales. Mike Sher, associate broker for Real Estate One in Royal Oak, said statistics on the Internet could be useful. He particularly recommended a Standard & Poor's Web site called SchoolMatters.com, which analyzes schools across the country according to their class sizes, enrollment and academic aptitude. But Sher also agreed that data and figures can be deceiving. For instance, crime data within a particular ZIP code might suggest a certain level of crime, but the area might be large enough to contain different neighborhoods with a large variance of crime, he said. "Statistics are created in past events, and there is a lag time even when the data was developed and now," he added. To Sher, the eyes are the best way to avoid lies. He said prospective homebuyers should drive by their favorite properties and talk to neighbors for the scoop on an area. An in-person visit can also unveil unpleasant truths - such as a property's nearness to noise and railroad tracks, he said. Downing said a tour could also reveal whether other homes in the vicinity are well-maintained. "Universally, they would be looking at the overall condition and aesthetics of a particular neighborhood because you don't want to purchase in a neighborhood where the homes are not cared for," she said. She added that potential buyers should visit the neighborhood multiple times and at different days of the week. Many buyers with families like to visit a neighborhood when kids are getting out of school, she said. "It will give you an idea of how many families with children live in the neighborhood," she said. To reach Real Estate One in Royal Oak, call (248) 548-9100. For more information about RE/MAX in the Hills, call (248) 646-5000. You can reach Staff Writer Eric Czarnik at eczarnik@candgnews.com or at (586) 498-
Office: (248) 644-4700x242 Fax :(248) 499-1020 4120 Telegraph Rd, Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com |
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
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