Lloyd Reed

Recently I have been asked a lot if it is really a good time to buy. My response has been that I do believe that any time any market takes a 20-30% price hit that it must be a good time to buy if we believe that all markets go in circles, up and down and around.

But, this led me to wonder, is there really ever a good time to sell. Let's think about this. If we are in a sellers market where prices seem to be increasing daily, sellers may be able to sell their homes for more money 6 months from now. Conversely, if we are in a buyer's market like the one we are in now, sellers may actually lose money by waiting to sell. Could you get more money for your home in the spring because that is when most buyers decide to look? Perhaps. Could you get more money if you wait until closer to winter time because there are less sellers and thus less competition? Perhaps.

I personally believe right now is a great time to sell for many people, but not all people. If you are looking to move up in price range because you want better schools, or a larger home, or more acreage or...this list could go on and on, you should consider selling. Think about it. If you have what you believe is a $100,000 home but could only get $90,000 for it, or 10% less than it's value, but you are buying a $200,000 home for that same 10% less, you are actuall coming out $10,000 ahead. Conversely, if you are looking to move down in value, now may not be the time to sell for the very same reasons.

The bottom line is this: we could argue forever whether it is a good time to sell or not. We could give scenario after scenario arguing both sides and never truly come to a real answer.

Lloyd Reed is the managing broker for ERA Network Real Estate in Grand Rapids, Michigan. 616-456-7500 x 114.

Recently in the West Michigan market the number of new foreclosures has started to decline indicating that we may be nearing the bottom of the market. As we get closer to this bottom the opportunities will begin to be fewer and fewer meaning either the prices of homes will increase or the quality of the homes will decrease. Either way, first time buyers and investors will be kicking themselves for not taking advantage. Interest rates are still low and other than the 2003-2005 time period, interest rates had not been this low for nearly forty years. Basically, if we believe what goes around comes around, interest rates will begin to increase again as inflation worries increase. Again, first time home buyers and investor will be kicking themselves. We all know that it is very difficult, if not impossible, to call the exact bottom of the market and quite frequently those who believe they can end up waiting to long and leave a lot of money on the table. If you are or if you know someone who is a first time home buyer or an investor, the time may be now to start making decisions. There has been in the past year and a half and there will continue to be a large transfer of wealth over the couple years. If you want to be part of it the time is nearing. I would be more than happy to sit down with you or anyone you know the discuss the options and create a success plan for the future. If you or someone you know is interested feel free to call me anytime at 616-456-7500 x 114 or email me at LloydReed@grar.com. Until then, let's make 2009 the most prosperous year.

Lloyd Reed is the mananging broker for ERA Network Real Estate in Grand Rapids, Michigan 616-456-7500.

HUD Homes...The Best Deals???

Recently I have helped several clients purchase HUD Homes and my wife and I even bought one for ourselves. For those of you who do not know, a HUD Home is nothing more than a home that has been foreclosed on the was purchased or refinanced using an FHA mortgage. HUD Homes are very different from traditional sales. HUD Homes are bid on online and there are no counter offers. Either HUD takes your offer or they don't. In our case we bid for approximately 2 months for the home my wife and I bought. Was it worth the time? I suppose it was seeing this very home sold for $93,400 in 2004 and we were able to buy it for $37,400. Most people think that all foreclosures need a ton of work. Not always true. Our new home needed paint, carpet, a water heater and a tree cut down that all of the neighbors seemed to love but none were willing to take. In total, we will probably have $41,000 total into this home and in two years, we will walk away with a lot of money. I mean a lot of money somewhere in the neighborhood of $50,000. Just think about that. That is about $25,000 per year profit and we are living there. Add that to the fact that HUD will pay $2500 in closing costs for a buyer who plans to live in the home. HUD will only require a $100 down payment if the buyer uses an FHA mortgage and until next year you can get the first time home buyer credit for $7500. It only makes sense to at least look at HUD Homes.

I have come to be an expert on HUD Homes and would love to help anyone purchase their first HUD Home. For a free list of HUD Homes for sale in your area or for more information about HUD Homes feel free to email me at Lloyd.Reed@ERA.com or call me at 616-456-7500 x 114.

Lloyd Reed is the Associate Broker for ERA Network Real Estate located at 933 Leonard St. NW in Grand Rapids, Michigan.

What do I need to do to qualify for a MSHDA loan?

Making application for a MSHDA loan is no different that applying for any other loan. Because there are only a few companies that do MSHDA loans you will need to find a MSHDA loan specialist. Second you will sit down with your MSHDA specialist and answer some questions, give him or her the documents that he or she requested and within 48 hours your MSHDA specialist should have an answer for you. This is no joke. It really is this easy.

This is entirely up to you, of course. If you are serious about getting the best home on the market for the lowest interest rate using the best loan program available here is what I suggest. In about 45 minutes we can together determine what is the best course of action for you to take and create an action plan to accomplish your goals. I will personally show you the home buying process in detail and show you how to use it to your best advantage.

After we go over the information, only YOU will decide what the next step is going to be. You may decide to purchase right away. You may decide to do nothing right now. Whatever you decide is all right with me. Really!

To get all of the answers you need regarding this unique mortgage program, just give me a call at 616-456-7500 x114 to schedule your FREE, no hassle, straight-talk conversation.

In about 45 minutes you will receive more time and money saving real estate information than most people will ever learn in their entire lifetimes.

By now you have probably figured out that I am not like most real estate agents. I strive to provide top quality information so that you can make the best decision for you and your family.

I know that many of you are asking yourself this very question. I know it is not what most real estate agents do and it probably seems a bit odd. The simple fact is, I Live By The Get By Giving Philosophy. I know that if I help enough people get what they want I will get what I want.

Yes I make my living selling real estate and no I do not eat if I do not sell. And yes, I would like to handle the details of your home purchase for you.

Well, I have taught you as much as I can about this dynamite mortgage program called MSHDA. The next step is up to you. As I said before, there is absolutely no cost or obligation attached to your FREE consultation.

I encourage you to pick up the phone and call me now while you are thinking about it if you have any questions or would like more information. I know that you may be a little skeptical, but one phone call is not too much to risk, especially when you could save yourself literally tens of thousands of dollars!

You can reach me at 616-456-7500 x 114

I look forward to hearing from you real soon,

Lloyd Reed Jr.

Expert Buyer Representative Specializing in MSHDA Financed Home Purchases

P.S. Procrastination has cost people more money than all of the natural

disasters combined. Don't miss out on information that can make all