If you are thinking of buying a home that is a short sale, and you have been able to find out that there is a true financial hardship, make sure you get the answers to these following questions too.

1.) How many liens are on the home? Are there any tax liens (unpaid taxes), association dues liens (unpaid association dues or special assessments) or contractors liens on the property? Is there a home equity loan or second mortgage on the subject property?

2.) Is there an offer already submitted. Short sales take a long time to get processed. I would say on average, it takes anywhere from 5-6 months to get an answer from the bank if they will approve or not the short sale. Often, home buyers will walk away from a short sale after a few months because they lose interest or find another home and to purchase. Some listing agents will continue to keep that original offer on the subject property to find out if the bank would accept a sales price of what the original offer is. This can help cut some months off the waiting process for you if there is already another offer submitted.

3.) Who is handling the short sale? There are all levels of different ways a short sale can be submitted to a bank for approval. Some Realtors handle their own transactions, some attorneys will handle short sales negotiations or some title companies will handle these. It is important to know who will be handling the transactions and to know their level of knowledge in the process.

Bottom line… make sure there is a verifiable financial hardship. If the listing agent will not disclose this information to you, then you should highly considering saving yourself time and frustration and move on to another home to purchase.

I want to start this post by giving this example. Picture this, you go to a car dealership and Car “A” is offered coming with one year warranty, has had a 151 point inspection and comes with a life time of oil changes. You then go down the street to another auto dealership, see the exact same vehicle (let’s call this Car “B”), but this dealer is not providing a warranty, has not been inspected and is coming with no additional complimentary maintenance after the purchase and is selling their car “as is”. Which vehicle would you purchase? Would you even pay more for Car “A” then Car “B” knowing it came with all these additional perks?

Now I will explain what this example has to do with my newest home selling program. Imagine you are out shopping for a house and you go to view Home “A” that is being advertised as a “Certified Pre-Owned Home” and are informed that this home has had a 1,600+ point home inspection, comes with a home warranty, has had a pest and termite inspection and has had an appraisal preformed. Best of all, this information is available for your review, even before making an offer on this property. Now you go down the street and walk in to Home “B” that is listed for sale at the same price as Home “A” and find out that it does not come with a warranty, has no inspections and has not been appraised. Which home would you probably make an offer on? Would you even pay more for Home “A” that is a “Certified Pre-Owned Home”?

Similar programs across the country have been used and studies show that properties that are “Certified Pre-Owned Homes” sell on average 28 days faster and for 4.5% higher then homes without this certification.

The best benefit about this program is that everyone involved in this transaction wins, and there are no losers. The sellers win by selling their home faster and for a higher amount and are inconvenienced less in the home selling process. Home buyers win because they get the assurance that the home they are purchasing comes with a warranty, has been pre-inspected and has been appraised in advance.

Once this transaction has closed, there will be over 10 local, Metro Detroit companies involved such as a Home Inspector, Pest Inspector, Home Warranty Company, Appraiser, Title Insurance Company, Mortgage Company, Real Estate Brokerage, Home Owners Insurance and more involved in making the American Dream come true.

Want to find out more benefits of this program or discuss your home selling goals, please feel free to contact me at (248) 939-9393.

If you ask a real estate professional when you should sell your home, most will say, “Now is the best time to sell your home”.

Real estate today is a year-round business, and most agents will agree that they do nearly as much business in December as in June.

If that is the case, then how do you decide which is the best time of year to list your home? Each season has its own characteristic. Let’s review each one.

According to most real estate professionals, spring is the busiest time of the year for buyers and sellers — spring offers the opportunity to showcase their home at its best. There’s always something nice about listing your home when it’s not too hot or too cold out and the air is fresh.

If you have a green thumb, summer might prove to be the best time to show off your garden. Potential buyers come through houses looking for such amenities as a well-cared-for garden. Also, if your kids are away for the summer, you might be able to keep their rooms clean from one showing to another. If you have central air, this season is also a great time to show it off. This is also a great time to boast about any access to summer recreational activities such as a beach, a lake, or community tennis courts or swimming pools.

A possible downside to showing a house in the summer is that most kids are home, and you’ll have to work harder to ensure their rooms are maintained clean enough for buyers to get through them.

Even though falling leaves could make for extra work in the fall, with children back at school, daytime showings might be easier to accommodate. The tax benefits of home ownership can be a push for homebuyers to get into a new home by December 31.

Fall is historically a shorter selling season. A home that doesn’t sell in the fall can be stigmatized as being held over on the market until the New Year. An old listing number in the MLS can give buyers the misleading impression that a home has been on the market for a long time and the seller might be willing to accept a lower offer.

Real estate professionals agree that only the most motivated buyers and sellers are active in the market during the winter season.

If you decide to sell your home in the winter, expect the unexpected. You will come across buyers who want showings at odd hours, or during your family holiday parties. At this time of year, you can expect potential buyers to track mud, snow, and salt through your home

In conclusion, how do you decide which is the best season to sell? As discussed, every season offer some plusses and minuses. If you want to list your home in the spring, you might want to list in mid-January, rather than waiting for February or March. On the other hand, you might get even more attention if you wait until mid-March, when many of the spring houses have already come on the market and buyers are hungry for something new.

Real estate is an industry of immediacy. It’s always a good time to sell your home if the price is right, no matter what the season.

When you have a medical concern, need legal advice, investing in your retirement, filing your taxes or need dental work, it is a safe assumption that you would probably go seek help from a full-time Doctor, Lawyer, Financial Advisor, CPA or Dentist right? When deciding on selling or buying a home in the Metro Detroit Real Estate market, why wouldn’t you also hire a Realtor who is a full-time professional as well.

I have always said becoming a real estate agent is America’s favorite part-time job. Often do I hear about some one who has retired after working for 20,25 or 30 years in a completely opposite work field that decides that they are bored with retirement and are looking for a hobby and choose to get their real estate license and sell a few homes a year. I have also heard of some people just looking to make a little extra money and become a real estate agent too. I am all about people having hobbies, and believe me, I think it is commendable to be looking to make some extra income too but wouldn’t you want to hire a Realtor who is selling real estate on a daily basis and knows all of the current trends and market conditions?

Bottom line, if you are looking to purchase or sell what is considered by many as your largest financial asset, why would you compromise for anything less than a full-time, professional real estate agent. Make sure this is one of the top questions you ask before you hire an agent.

1. January is traditionally the biggest month for work transfers and you must be on the market to capture that market activity.
2. The ratio of “Listings Sold” to “New Listings on the Market” is at a higher percentage during this time of the year.
3. There is less inventory for home buyers to see making your competition less.
4. Winter prospects are more serious buyers.
5. Your home looks better during the holidays.
6. Throughout the holiday season, you may restrict showings during your personal family events.
7. You may receive more money for your home now because you have less competition.
8. Buyers have more time to look at home during the holidays, especially during their vacations.
9. By selling now, you can have a delayed closing or extended occupancy until the beginning of the year, if you want to.
10. When you sell during the winter, you have an opportunity to buy during the Spring, when many homes are on the market.
11. You may have fewer actual showings, but more qualified and motivated buyer prospects.
12. Corporate transfers, who need to buy a home now, can’t wait till Spring.

Let me know if you would like to discuss getting your home on the market before 2012. My exclusive “Coming Soon” program for home sellers works well with home sellers thinking of listing their home in the next few weeks.

Let Those Lights Shine: The best way to combat winter’s short and frequently cloudy days is to turn on your house lights. For a showing, every single light in the house must be on, even in the closets and utility/mechanical rooms. Also opening the drapes and blinds during the day to let in light and let visitors enjoy the view.

Provide Convenient Parking: It’s vital that buyers have a convenient place to park. They won’t want to walk very far in cold weather or be forced to climb over a snow bank to exit their vehicle. Because parking is often more restricted around condominiums, sellers should make sure their agent can pass along parking details to buyers. Winter showings can get off to a bad start if prospective buyers arrive with snow or salt on their shoes.

Keep Odors Under Control:Any home tends to be stuffy in winter when windows are opened rarely. That can allow odors to build up, which can be a turn-off to buyers. If pets are in the house, consider setting the thermostat control so that the furnace fan runs constantly during the day to keep air moving through the house and dissipate odors. Also try to avoid strong cooking odors, especially if a showing is scheduled that day.

Give Your Home A Nice Aroma. The No. 1 favorite? Chocolate-chip cookies. Just about everybody likes that smell. Other popular scents: cinnamon rolls, freshly baked bread, apple pie, apple cider or anything with vanilla, cinnamon or yeast.

Protect your investment. Some home owners will ask buyers to either remove shoes or slip on paper “booties” over their footwear before touring the house. Many buyers like that since it indicates a pride of ownership that resonates with buyers.

Don’t Ignore the Outdoors: Make a good first impression on buyers with a neatly maintained yard. Walks and steps should be kept clear, especially of snow and ice.

Choose Your Exterior Photos of Your Home Wisely: I always ask home owners that I meet with during the Winter months if they have exterior pictures of their home that were taken during the Summer or Spring Months when the flowers are in full bloom and the grass is green. Buyers shop with their eyes and even though homes can look beautiful with snow and ice, nothing is more inviting then a colorful photo.

Don’t Roast Buyers: We all tend to prefer a specific temperature for our homes during the winter, but don’t blast buyers with hot air. Keep the temperature at a comfortable 65 degrees for all showings. Remember, buyers are likely to be wearing their coats even as they walk through the house.

Keep Seasonal Clothing under Control: One major challenge of selling a home during the winter months is the overabundance of cold weather gear that must be stored. A buyer doesn’t want to find the mudroom filled with boots or the hall closet overflowing with heavy coats. Shift some winter coats to another closet and put anything not needed in the closet into storage. To keep gloves and scarves from piling up in the front hall or mudroom, put a special container for them, such as a decorative chest, where the family typically enters the home.

Encourage Day Time Showings If Possible: A home shows to its best advantage during daylight hours, which are relatively scarce in winter. It is a good idea to also put a lot of your lights on timers throughout the home too. Sometimes you can’t always make it home for early evening appointments and you don’t want home buyers walking into a home that is dark. Regardless of day or evening showings, turn on as many lights as possible in your home, even closets. Let your home glow!

Despite the special challenges of marketing a home during winter, there also are benefits. Home Buyers are out looking at homes in December, January and Febreuary are, as a group, quite serious about buying. Therefore, sellers tend to benefit because each showing is more productive, and fewer showings are needed to sell the property.

Deadly Mistake Number # 1 Incorrectly Pricing Your Home

Every seller wants to net as much money as possible when selling their home. Unfortunately, a listing price that is too high often gets the seller less than a listing priced at market value. If your house is not priced competitively, people looking in your price range will reject your house in favor of other larger homes for the same price.

At the same time, the people who should be looking at your house will not see it because it is priced over their heads. Overpricing usually increases the time on the market and that adds to the seller’s carrying costs. Ultimately, many overpriced properties sell below market value.

Deadly Mistake Number # 2 Failing to “Showcase” your home

Buyers are looking for homes, not houses, and they buy the home in which they would like to live. They buy emotionally and then back up that emotional decision logically.

Owners who fail to make necessary repairs and don’t spruce up the house inside and out, touch up the paint and landscaping and keep it neat and clean, chase buyers away as rapidly as Realtors can bring them.

If you were selling a car, you would wash it or perhaps even detail it to get the highest price and sell it quickly. Houses are no different.

Deadly Mistake Number # 3 Staying at home during a showing

As we mentioned above, buying a house is an emotional decision. People like to “try on” a house and see if it is comfortable for them. This is difficult for buyers to do if you are present and even harder if you follow them around, pointing out every improvement you have made.

It will probably have the opposite effect you want. They may feel uncomfortable because they are intruding on your private space rather than making them feel at home. The best strategy is to leave the house when a prospective buyer is scheduled. Even a good Realtor knows that he won’t “sell” the house – the house must sell itself. Once you have prepared your house for showing, let your house do its job.

Deadly Mistake Number # 4 Mistaking “Lookers” for Buyers

Folks who try to sell their home themselves always get more activity than houses listed with an agent… no question about it. Realtors will only bring qualified buyers and these will be fewer than if you open your front door to everyone who walks down the street.

Fully 96% of the responses you receive on ads and open houses are not bona fide buyers (these statistics come from the National Association of Realtors). Seventy percent (70%) have a house to sell first, 18% live in the neighborhood and are interested in the value of their home and 8% are just looking for decorating ideas or shopping.

That means that only 4 calls out of 100 are buyers that are ready and able to buy a home. These 4 prospects will look at an average of 18-23 homes before they buy.

Agents pre-qualify buyers before bringing them to your home. An agent does not get paid unless he or she helps someone buy a home. This makes it unproductive for a Realtor to show properties to unqualified prospects.

A Realtor will ask a buyer how much he can really spend for a house, how much he has to put down, how good his credit is, how much he can pay each month, how much he will realize when he sells his present home and about two dozen other similar questions.

Unless your Realtor finds out the facts first, you must ask all these questions before the buyer crosses your threshold. If not, you may end up with a parade of Sunday afternoon shoppers with a dream of owning a home someday.

Deadly Mistake Number # 5 Not knowing your rights and obligations

Real estate law is extensive and complex. A Purchase Agreement is a legally binding contract. If improperly written, the contract can cause the sale to fall through or cost you thousands of dollars for repairs, inspections, taxes and remedies for items included or excluded in the offer. You must be certain of which repairs and closing costs you are responsible for.

You also need to know if the property can legally be sold “as is” and how deed restrictions and local zoning will affect the transaction. If there are defects in your title or your property is in conflict with local restrictions, you or your Realtor must remedy them to avoid losing money.

Deadly Mistake Number # 6 Signing a listing contract with no way out!

Many times an agent will have good intentions about marketing your house but circumstances change. There might be a death in the agent’s family or the agent may decide to quit the business. In these cases where the agent couldn’t or wouldn’t perform, you must have the right to fire your agent. In some companies, the broker will assign your listing to someone else in the office, someone you didn’t personally select. Always protect yourself by getting a guarantee of performance with the right to cancel in writing!

Deadly Mistake Number # 7 Limiting the marketing and exposure of the property

The two most obvious marketing tools, open houses and ads in the Homes Magazines, are very ineffective. Surprisingly, less that 1% of all homes sold are sold at an open house. Agents use them to attract future prospects, not to sell your house.

Advertising in newspapers and magazines sell only 3% of all homes sold. Some ads are better than others. You need to spend your advertising dollar on effective marketing. To find out what is effective, you need to understand the philosophy of advertising and then you need to test your ads. Test the publication, test the placement, test the text, test the pictures and then quantify the results into a coherent marketing strategy.

Forty percent (40%) of homes are sold through salesperson contact or firm name recognition. Twenty percent (20%) are sold through the “For Sale” sign that sits in your front yard. Eighteen percent (18%) of all houses are sold through “Direct or indirect” referrals and since most agents pay no attention to this source at all, just imagine what percentage it could be if you had a systematized plan to attract these referrals.

Deadly Mistake Number # 8 Believing that a Bank Appraisal is the real Market Value

An appraisal is an opinion of value that is used for a particular purpose. If a lender wants to lend you money (say on a 2nd mortgage or refinance), they may be motivated to make the appraisal come in high. The appraiser may ignore foreclosure, distress sales or highly motivated sellers in order to justify a higher price.

Unfortunately, a real buyer in the real world will not ignore these properties. These properties will, in fact, be your competition. Don’t make the mistake of thinking that the value you were given even 6 months ago when you refinanced is what a real buyer would pay. The value of your home must be determined by what comparable houses in your neighborhood have sold for. Look at all of the SOLDS in the area and then decide.

Deadly Mistake Number # 9 Not getting Performance Guarantees from your Realtor

Realtors don’t guarantee anything. If they get your home sold, great – they get paid, but if they don’t, tough luck. Thirty-three percent (33%) of all listings that are put in the Multiple Listing System DO NOT SELL!

Make sure that your Realtor has a better track record than that and make sure that he will be accountable to you if he doesn’t do his job.

Deadly Mistake Number # 10 Choosing the wrong Realtor

It is likely that you don’t interview people very often, but, in order to find the right Realtor you may interview several. The quality of your home selling experience is dependent upon your skill at selecting the person best qualified.

Getting an experienced, competent agent with your best interests in mind generally costs the same as hiring someone who is inexperienced. Bringing that experience to bear on your transaction could mean a higher price at the negotiating table, selling in less time, and with a minimum of headaches.

There are many Realtors who are wrong for you. For example, the part-time agent who sells an occasional house because they need a little pocket change or the insurance salesman who believes he can handle two careers or perhaps your cousin George who really needs your business.

The sale of your home could be the most important financial transaction you will ever make. The person you select can make it a satisfying and profitable activity or a costly, terrible experience. It is your home and your money… the choice of your Realtor is up to you. Make your selection wisely.

I want you to know that I only work with serious sellers.  In fact, my straight forward style isn’t for everyone – but it’s just what the doctor ordered for most people. I sell a lot of homes and would love to get your home sold for you and I am are very interested in earning your business.

There is no obligation and we’ll be totally straight with you.  Even if you don’t list with us, we guarantee it will be time well spent.

So, it’s your decision on what to do from here.  It’s totally up to you.  I will get your home sold, you just need to take action and call me! I look forward to hearing from you.

• 377 homes have sold in Novi this year, up from 355 from 1/1/2010-11/14/2010. That is almost 6% increase in closed home sales!
• Average dollar per square foot sold in 2010 to 2011 is up from $104.03 to $104.93. A sign of Novi Housing values appreciating!
• Average sales price in 2010 YTD to 2011 YTD is up from $281,718 to $290,232. Another sign of Novi Home values appreciating!
• Average days on market in 2010 YTD to 2011 YTD is down from 99 days to 85 days. A sign of the increased demand for homes in Novi.

As the old saying goes, “Timing is everything”. Right now in the Novi Michigan Real Estate Market, we are experiencing something that we have not seen in years, which is an extreme shortage of homes for sale. The inventory of homes on the market today is actually down over 50% from one year ago. Being one of the top-selling real estate broker here in our city helping over 1,000 home owners over the past 12 years in our wonderful city, I have been on a mission trying to spread this word and help keep the America Dream a reality. Feel free to contact me with any specific questions or if you have thought about selling. I have a list of buyers and brokers ready to buy today! I will be sure to keep updating with any positive real estate news in our community.

Synopsis of Inventory (09-11 vs. 09-10)

• All MLS on‐market inventory declined by 18.1% from 37,665 in September 2010 to 30,842 in September 2011.
• Approximately 13.12% of the on‐market inventory (4,048) is comprised of properties identified as foreclosures.
• Approximately 22.65% of the on‐market inventory (6,988) is comprised of properties identified as short sales.

“This statistical information has been obtained from Realcomp, the REALTOR’S^® MLS.  Realcomp is Michigan’s largest Multiple Listing Service. Although not guaranteed, these statistics are from data Realcomp believes to be reliable. This information is not to be reproduced, redistributed, or combined with data from other sources without expressed permission from Realcomp.”