What Home Buyers in Michigan Should Know About Staging
Talk to any real estate agent or Michigan mortgage banker and they’ll tell you there’s no shortage of new homes for sale throughout southeast Michigan, but the Metro-Detroit area and outlying communities are also home to aging properties. There can be real value in purchasing one of these older homes whether you’re talking about depth […]
Tax Perks for Buying Your First Home – Part 2
In the previous post I talked about using points, property tax and interest to maximize your deductions at tax time. Now we need to discuss something that’s equally important. Timing. Timing is Everything for Mortgages in Michigan… and Taxes When it comes to taxes, timing is everything. While most first-time home buyers will benefit in […]
Tax Perks for Buying Your First Home – Part 1
Let there be no contest – there is absolutely nothing quite like buying your first home. Not only do you have something that is officially yours, you’ve got an investment that could pay you back considerably if managed properly, and you also have a new way to save quite a bit when tax time comes […]
Why Can’t I Get the Best Mortgage Rates?
Want to talk about consumer frustration among home buyers? We’re constantly bombarded by media headlines that tell us that mortgage rates are at an all-time low and we’ll never see rates this good. Then, those buyers that want to leverage this period call a lender and find out that the rate being quoted is higher […]
Mortgage Market Recap for the week ending Friday March 23rd, 2012
Mortgage rates remained volatile this week, mostly due to shifting expectations about future Fed action. Early in the week, mortgage rates continued last week’s move higher. Comments from Fed officials helped them recover their losses later in the week, though, and they ended the week slightly lower. While the Fed does not control mortgage rates […]
Mortgage Market Recap for the week ending Friday March 16th, 2012
What began as a quiet week quickly turned negative following the release of Tuesday’s Fed announcement. Mixed economic data and Treasury auctions had little impact. Mortgage rates ended the week significantly higher. While it was very similar to the last statement, the Fed announcement reflected some degree of improvement in the economy. This caused investors […]
FHA Mortgages in Michigan – How to Benefit from the FHA 203(K) Rehab Loans
As the number of foreclosures on the market as well as fixer-uppers continues to hold (and rise in some areas of southeast Michigan), there’s a growing interest in obtaining these homes. Despite the need for a little TLC before they’re livable and comfortable, people are starting to look for ways to purchase these homes without […]
Buying a Foreclosure in Michigan – Top Foreclosure Myths
Myth #1: Foreclosed Homes Are Always In Bad Neighborhoods There really isn’t any point in history where this has been true. While the “bad” neighborhoods, or those in depressed economic areas, may show significant amounts of foreclosures, they do not represent the bulk of the foreclosures around the U.S. In the current economic climate, every […]
Mortgage Market Recap for week ending Friday March 9th 2012
Overall, the economic data came in pretty close to expectations this week, and Greece successfully reached a debt deal with private bondholders. With a lack of surprises in the economic news, mortgage rates ended the week nearly unchanged. While it was a little stronger than expected, the important monthly Employment report had little impact on […]
Buying a Home – The Benefits of a Short Sale in Michigan
As our economy continues to down-slide, and housing values drop, “short sales” have become ever-more popular, and in many cases are the only way for a homeowner to get out from under a mortgage they can no longer afford without being hit by a full-blown foreclosure. The real estate market in Michigan is flush with […]