Marvelous Mary Novak CDPE Sells MI Real Estate

FACT: Up to 80% of homeowners who are in a financial hardship never contact their lender or a trained realtor to help them get the facts they need.

FACT: Working with a trained licensed realtor can make the short sale process smoother and help a homeowner salvage their credit!

FACT: A foreclosure will drop your credit score up to 300 points. A short sale may drop your credit score by 30-50 points*

The definition of a short sale is that the homeowner owes more on the home than what the home can sell for. With the bank's permission, the home will be sold less than what the current homeowner owes.

Just like today's market. Many homeowners are finding themselves in the position that they have lost a job, are not eligible for a loan modification, their rate adjusted or they have been transferred. In a good market, it wouldn't be a problem to sell your home, but in Michigan's challenging real estate market; this is a different story.

Many banks are allowing homeowners to sell their home using the "short sale" vehicle. You need to have your home listed with a licensed realtor. You need to be patient! The realtor will list your home at current market value. You will be required to provide a financial statement along with a hardship letter as to why you are selling your home short. This is where a trained licensed realtor in the short sale process can help you! A trained licensed realtor will prepare the package to the lenders' specification. Once you have an offer and the bank accepts this offer, part of the negotiating will be in asking the lender to "forgive" your debt or renegotiate your debt substantially. (The lender may ask you to be responsible for 5-10% of the amount due). Up to 80% of homeowners who are in a hardship never contact their lender or a trained realtor. A short sale will not affect your credit as much as a foreclosure on your credit report. Foreclosures will be on your credit report for seven years and will always follow you. A foreclosure will cause your credit rating to drop up to 300 points. Not only that, today many businesses are running credit checks on employees and if you are interviewing or currently in an employed position which requires security clearance, a foreclosure could affect your employment. Insurance companies are basing part of your premium costs to your credit score.

Often homeowners who have sold their home through a short sale and have kept current on all of their other debts are able to purchase a home within 6 months to a year after the short sale. There are no set guidelines but I have seen this happen. If you think a short sale is something you need to do, call me at 810.844.2280 to schedule your personal confidential appointment and I will explain the process to you! Be sure to check my web site at www.MarvelousRealEstate.com Let me help you with your short sale, and let me put you into your next home!

*Today's rules are constantly changing. When in doubt contact your lender for advice.

Take a ride on the Magic Bus and support the Veterans Program of Brain Injury Association of Michigan supporting our troops with traumatic brain injuries. This fun filled "Hippiefest" is set to rock n' roll on Saturday, April 18, 2009 at Baker's of Milford MI. Wear your hippiegear! Showtime 8:00pm

$10/per person at the door! for more information go to: www.myspace.com/magicbusride

SUPPORT OUR TROOPS!

To learn more about brain injury go to: www.BIAMI.org

Are you a soldier facing foreclosure or struggling to make your house payment? Call me at 810.844.2280 to learn about possible options available to you. www.MarvelousRealEstate.com

The Livingston Diversity Council is presenting a panel discussion on Dispelling the Myths of Women in the Military. Our panelists will included men and women who have served and or are currently serving. Part of the discussion will cover why women enter the military, what it is like for a man to command a woman in a combat situtation and the opportunities available to women looking to the making a career in the military. Please contact me at 517.861.7064 if you have any questions. This program is open to the public and free.

Livingston Diversity Council Presents

Dispelling the Myths of Women in the Military

6:30 - 8:00 p.m., Monday, April 6, 2009

American Spirit Center

American Legion# 235 and VFW #4357

10590 E. Grand River Avenue

Brighton, MI 48116
(810) 229-9088

This is for those folks waiting for the market to bottom out. No one knows when the market will hit bottom, but what I do know is that interest rates are still low (although they are slowing inching up), and home prices are still affordable. As a Realtor, I am seeing more activity on my web sites and our office phones are ringing off of the hook! Not only that, I had an open house last weekend and I had four couples walk through the property. If you are writing an offer on a home, don't be surprised if you become involved in a bidding war.

With the first time $8,000 home buyer credit that President Obama has signed and the stimulus package that is in the works is causing people to start looking!

If you are thinking about buying a home, call me at 810.844.2280 and I can put you on a special email list to receive weekly updates. If you are thinking about selling, call me and I can begin marketing your home with my proven marketing system. Inventory is on the market less time than it was last year at this time. Home buying is up!

I had the pleasure today to meet and speak with the proprietor of Full Circle Organic Farm located in Livingston County MI. The farm recently received Certified Organic Farm certification. Full Circle Organic Farm carries over 40 varieties of vegetables and herbs. They utilize heritage and organic seeds and crops are weeded by weeder geese. Yes--weeder geese. You need to check out the photo of the geese at www.localharvest.org and type in Full Circle Organic Farm. I think you will be just as surprised as I was to find out that geese have a purpose!

Lambs that are raised only on pasture, hay and fresh water are allowed plenty of room to roam with 360 acres to call home. Contact Full Circle Organic Farm for more information on the sheep at 517 548 2447

But best of all are the SKINNY EGGS, or so they are called. The eggs have the ability to keep hunger at bay after a meal of these beauties. So whether its the eggs or the walking and hard work the owner does on the farm, she tells me these are the best tasting eggs around. I have a dozen of these eggs and tomorrow I will be happy to taste test them!

If you are thinking about moving to a slower pace of life and think farming it is....contact me mnovak@michigangroup.com and I will be happy to show you available properties!

"Professionally Bringing Home Buyers & Sellers Together"