Attention: if you are down sizing, a tenant, 1st time home buyer, looking for a larger home, etc., now is the best time to buy your dream home! Why? Because of problems in the real estate and mortgage industries home prices are down and inventory is at its all time high. Some of the problems are: fraud, shams, foreclosures, adjustable rate mortgage (arms), predatory lenders; not to mention the economy. Because of the above mentioned concerns a lot of people are selling or losing their homes.
The cost of a home in Detroit is close to the lowest in the country but you can find an affordable house everywhere you look, in almost any state. 2008 is definitely a buyer's market in Michigan. Let’s look at 3-critical issues in finding a home. We will concentrate on finding a home, the property, and financing.
FIND A HOME:
If you are looking for a local home in Detroit, Ferndale, Oak Park or nationally in California, New York, etc., there are many ways to find a great home at affordable prices. For example, find...
1. An investor who sells wholesale properties (buy houses in bulk and sale at a discount)
2. A real estate company that sell REO's (real estate owned by banks)
3. Real estate foreclosure lists
4. FSBO's (for sale by owner) lists
THE PROPERTY:
What to look for when finding your dream home.
1. Low sales price
2. Good neighborhood (location, location, location)
3. Homes on the market for a long time
4. Cosmetic repairs or ready to move-in condition
5. Amenities like fire place, deck, garage, finished basement
6. Other incentives and concessions
FINANCING:
What you should look for in financing are as follows:
1. 15 to 35% equity in the home (equity is the difference between what the home is worth & what you owe)
2. Seller’s help in paying closing cost
3. Seller's financing
4. Down payment assistance
5. Reasonable to low monthly payments
6. 100% financing [100% loan to value (LTV) program]
7. Seller take back a 2nd mortgage (80/20 program = seller hold a 2nd mortgage for 20% of the sales price)
If you NEED HELP finding your dream or investment home, please call HBR's representative Darnell Tolbert at (313) 530-6118. E-mail: DarnellTolbert@gmail.com
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Darnell Tolbert has purchased, sold, and managed many homes individually and in partnerships. Darnell has presented interactive workshops on property management for Mark Maupin's Mega Evening Event, Budget Realty, LLC and private seminars. Mr. Tolbert has real estate consulting and mentoring programs on how to successfully start & run a business, land-lording, and flipping (buying properties at a low price, rehabbing it, and selling for a profit.)
Owner will do Rent to own—Sometimes is referred to as: Lease option, lease option to buy, lease purchase option, lease option to buy home, lease option home, real estate lease option, lease option contract, lease option form, lease option to buy house, lease option buy form, lease with option to buy contract, lease option to buy real estate, lease purchase option for home, lease option house, lease option agreement, residential lease option to purchase, lease option, lease with option to purchase form, rent to own, rent to own home, rent to own house, rent to own Michigan, rent to own home listing, rent to own real estate, real estate, real estate financing
Owner and his partners have properties in the following Cites in Michigan:
Oakland County --Addison Township, Auburn Hills, Berkley, Beverly Hills, Bingham Farms, Birmingham, Bloomfield Township, Clawson, Commerce Township, Farmington, Farmington Hills, Ferndale, Franklin, Hazel Park, Highland Township, Holly, Holly Township, Huntington Woods, Independence Township, Keego Harbor, Lathrup Village, Lyon Township, Madison Heights, Milford, Milford Township, Northville, Novi, Oak Park, Oakland Township, Orchard Lake, Orion Township, Oxford Township, Pleasant Ridge, Pontiac, Rochester, Rochester Hills, Royal Oak, Southfield, South Lyon, Troy, Walled Lake, Waterford Township, West Bloomfield Township, White Lake Township, Wixom
Wayne County --Belleville, Brownstown Township, Canton Township, Detroit, Dearborn, Dearborn Heights, Grosse Ile Township, Grosse Pointe Shores, Grosse Pointe Woods, Hamtramck, Inkster, Livonia, Northville Township, Plymouth, Redford Township, Riverview, Romulus, Taylor, Trenton, Wayne, Westland, Wyandotte.
Washtenaw County: Ann Arbor, Bridgewater, Chelsea, Dexter, Manchester, Salem, Saline, Superior Township, Whitmore Lake, Whittaker, Willis, and Ypsilanti
Each of the communities covered by Home Buyer’s Resource has different demographics and terms. Information is available on any of the following: Buyers Broker, Buyer Broker, Buyer Broker Michigan, Michigan MLS listing, Michigan search MLS, Wayne MLS Search, Oakland MLS search, Oakland County Real Estate, Michigan MLS real estate listings, Michigan free MLS listing, Washtenaw MLS, Macomb MLS, How to Sell your home, Home search, homes for sale, find rental property, Michigan real estate listings, foreclosure listings, free foreclosure listing, free foreclosure listings, some people refer to this new system in the follow words: MLS, MLS search, MLS number, real estate MLS, MLS real estate listing, MLS soccer, MLS alliance, MLS online, MLS stratus, real estate MLS, real estate listing, foreclosure listing, multiple listing service, real estate property listing, property listing, commercial real estate listings, real estate search, property search, MLS search. Cheap MLS Listings Michigan, Home for Sale by owner, help you sell. Help u sell, Real Estate One MI, Real Estate One, Real Estate One Royal Oak, Homes Royal Oak, Homes Berkley, Homes Ann Arbor, Birmingham Homes, Bloomfield Hills Homes, Remax, Remax Listings, Max Brook, Hall and Hunter, C21, C21 Listings, Hannet Wilson whitehouse, Prudential, Prudential Real Estate, Foreclosure experts, Probate, Home Locator, Find My House. Your Local Flat Fee, For Sale By Owner, selling my house in Michigan, Real Estate Commission, Free Home Sales, Residential, Single Family, Multi-Family, Apartments, Condo, Condominium, Lofts, New Construction, REO, Real Estate Owned, Commercial, Lake Front, Vacant Land, Bank Owned, for sale by owner, Short Sale, Realty, BPO Broker Price Opinion, Universal Design, Investment, Water Front, Zero Down Home Buying, Ameridream, AmericanDream, Foreclosures, Attorney is Recommended , HUD, Zero Down, MSHDA, Vacation, vacation property, donate real estate,donate, Metropolitan Title, title work, title agency, real estate one broker, real estate one agent, billow Michigan, billow, realtor.com, 1031 Exchange, 1031 Tax Exchange, Certified Appraisal, Probate, Negotiable real estate listing commissions, Historic, vintage, Reverse Mortgage, AARP Discount, Rent, Renting, Rental, Lease, Mr. Lease Option, Relocation, Relo, Relocation Company, real estate one blog, mls listing blog, Property Selling Specialists, option, optionee, MiRealEstateToday, Michigan Real Estate Agent, Affordable Michigan Real Estate Agent, Broker, Realtors, sell my home, find Michigan real estate, short sale expert, Specializing in Homes For Sale Michigan, and Proudly Serving Flat Fee, Michigan Realty, "for_sale_by_owner_fsbo.htm" For Sale By Owner, FSBO.
Home Buyer's Resource
(HBR—Your complete source of... credit repair, rehabbing, mortgages, wraps, home repair, home builders, appraisals, foreclosures, VA-HUD-FHA foreclosures, management, inspection, accounting, investment advice, advertising, marketing, relocation home finder, property referral agent, rent, lease, rent to own, rent with option to buy, lease option, options, vacant land/lots, land contract, land contract buy-outs, real estate syndication, pre-foreclosure short sales, subject-to acquisition, no-money-down acquisition, distressed properties, residential homes, middle-to-low income housing, section 8 homes, income properties, cheap homes, ugly homes, real estate clubs, real estate associations)
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