Buyer Urgency Expected to Drive 2013

Love this shift and we think you will too. When you are ready to buy or list....call us.
We are ready to get to work for you.
810-844-2316

 

Buyer Urgency Expected to Drive 2013

Mortgage Rates Continue to Fall

Mortgage Rates Continue to Fall

Give us a call - we would love to help you find your next new home or better yet upgrade to a new home.  Let us provide you a FREE analysis of your current home value....it might suprise you! 
The Tim Sova Team, RE/MAX Platinum
810-844-2316

2012: The 'Turn-Around Year for Housing'

It's a seller's market due to low supply and high demand....let us give you a FREE Current Market Analysis on your home to see if the time is right for you. Call us TODAY! 810-844-2316

2012: The 'Turn-Around Year for Housing'

3.8% Tax: What's True, What's Not

Rumors about the 3.8% Medicare tax continue to circulate. Here's the definitive word on what's true and what's not on how the tax impacts real estate.

Read link below to learn the facts!

3.8% Tax: What's True, What's Not

17 Percent of Homeowners Undervalue Their Home

We are here to help you understand the value of your home...contact us for a FREE Current Market Analysis! Confidential and no obligation...knowledge is POWER!


http://rismedia.com/2012-10-01/17-percent-of-homeowners-undervalue-their-home/

Home Buyers Grow Frustrated by Low Inventories

The trend in the article below is very true so if you are thinking of listing your home, now is the perfect time!  Livingston County, MI Buyers need you!  Call us today to discuss your options and get a FREE market analysis of your home's value.  We work all areas within Livingston, Oakland, Washtenaw and Genesee Counties of Michigan.

Home Buyers Grow Frustrated by Low Inventories

New-Home Prices Soar to 5-Year High

All of Southeast Michigan is also experiencing these same trends. If you know of someone that has been thinking of selling or even yourself - give us a call! We will give you a Current Market Analysis and dicuss your options. Now is a GREAT time to be a seller!

Please read below....

New-Home Prices Soar to 5-Year High

4 Strong Reasons to Buy a Home Now

4 Strong Reasons to Buy a Home Now We are experiencing this trend in Livingston, Oakland, Genesee, and Washtenaw counties as well....now is a perfect time to list your home with The Tim Sova Team. Contact us today at 810-844-2316!

Inventories Hover at Historic Lows

Inventories Hover at Historic Lows As described in this article....we are experiencing low inventory too so if you know of anyone that is thinking of selling their home (or maybe even you) give us a call at 810-844-2316

Short Sale Rush Is On

The Tim Sova Team has successfully helped 73 Michigan families through the distressed property process by handling their short sales through to the closing table in the past 2 1/2 years...with 12 more pending in the hopper! We are here for you - give us a call for a confidential consultation to discuss your options.

Short Sale Rush Is On

Mortgage Rates Continue Record-Breaking Streak

Now is a FANTASTIC time to buy a new home with record low rates….The Tim Sova Team has helped 48 homeowners this year already buy and sell homes….we are working!  Let’s discuss your real estate needs and options – give us a call and we will be happy to help! Mortgage Rates Continue Record-Breaking Streak

Is the Housing Crisis Over?

As described in this article....we are experiencing low inventory too so if you know of anyone that is thinking of selling their home (or maybe even you) give us a call - now is a great time...we can discuss your options. Having sold 47 homes this year already with an average days on market of 19 and a 99% list to sale ratio...The Tim Sova Team is working!

Is the Housing Crisis Over?

May Sales Statistics Show Big Percentage Increases over Last Year

Highlights and Analysis:

• All MLS sales increased 11.4% with 6,325 sales compared to 5,679 in May 2011.
• Oakland County sales increased 20.2% with 1,717 sales compared to 1,429 in May 2011.
• Livingston County sales increased 14.8% with 240 sales compared to 209 in May 2011.
• Average Days On-Market (DOM) for the entire MLS decreased by 13 days from last year: 97 DOM to 84 DOM.
• Of the 6,325 sales closed in May of this year, 11.6% (735) were identified as short sales.
• 46% of all sales this month were identified as cash sales.

Median Sale Price Increases:

• The median sale price for All MLS rose by 21% as compared to last year from $66,850 to $81,000.
• Genesee County median sale price rose 26.4% from $50,000 to $63,200.
• Macomb County median sale price rose 11.9% from $67,000 to $75,000.
• Oakland County median sale price rose 19.9% from $115,000 to $137,900.
• Wayne County median sale price rose 34.5% from $33,450 to $45,000© Realcomp II Ltd

Source:  Realcomp MLS

CALL US TODAY!  WE HAVE SOLD 42 HOMES THIS YEAR ALREADY WITH AN AVERAGE DAYS ON MARKET OF 19 AND AN AVERAGE LIST TO SALES PRICE RATIO OF 100%!!!  WE WILL WORK HARD FOR YOU TOO!

Home Building Picks Up in May

Home Building Picks Up in May we have lots of vacant land for sale right now! contact us today so we csan help you with your dream home! call us at 810-844-2316 or visit our website www.timsova.com

Fannie and Freddie Set Timeline Requirements for Short Sales

Beginning June 15, real estate agents working with distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days.

The GSEs issued new guidelines Tuesday that fall under the Servicing Alignment Initiative rolled out last fall and aim to bring greater transparency to the short sale process and expedite decisions related to these pre-foreclosure sales.
Not only is a short sale an effective foreclosure alternative when home retention is no longer an option, but it keeps homes occupied and helps to maintain stable communities, according to the Federal Housing Finance Agency (FHFA).
Addressing real estate practitioners’ No. 1 complaint about short sales, FHFA directed Fannie Mae and Freddie Mac to establish a new uniform set of minimum response times that servicers must follow in order to facilitate more efficient short sale transactions.
The GSEs’ new short sale timelines require servicers to make a decision within 30 days of receiving either an offer on a property under the companies’ traditional short sale programs or a completed Borrower Response Package (BRP) requesting short sale consideration, whether it’s through the federal government’s Home Affordable Foreclosure Alternative (HAFA) program or a GSE program.

If more than 30 days are needed, servicers must provide the borrower with weekly status updates and come to a decision no later than 60 days from the date the BRP or offer was received.
According to the GSEs, this 30-day add-on will provide some leeway for servicers who may need more time to obtain a broker price opinion (BPO) or a private mortgage insurer’s approval for a short sale. All decisions must be made within 60 days.
In the event a servicer makes a counteroffer, the borrower is expected to respond within five business days. The servicer must then respond within 10 business days of receiving the borrower’s response.
GSE servicers must comply with the new minimum communication time frames for all short sale evaluations conducted on or after June 15, 2012, although servicers are encouraged to begin implementing the new requirements sooner.
Reprinted from DSnews.com

Mortgage Rates Drop Closer to All-Time Lows

Who do you know that is in the market to buy or sell? Maybe it is you! After reading the great news below, please give us a call - we are here for you and happy to help with all your real estate needs. Inventory is super low so now is an excellent time to sell too. We would be happy to give you a FREE no obligation Current Market Analysis on your home.

Mortgage Rates Drop Closer to All-Time Lows

Michigan Short Sales Explained

 

A Michigan short sale can be an excellent solution for homeowners who need to sell, and who owe more on their Michigan homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.
But to be technical, here's a more official definition:

• A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
• A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

For Michigan homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

• Financial Hardship – There is a situation causing you to have trouble affording your mortgage...i.e. loss of your job and have to move out of the state of Michigan to find appropriate work, medical needs, etc. 
• Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
• Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. Tim Sova, Associate Broker at RE/MAX Platinum in Brighton, Michigan holds his CDPE® Designation and we are ready to identify all possible options and, when possible, assist in the quick execution of your short sale transaction.
If you have questions or feel you may qualify for a short sale, please contact us for a free consultation.
Understanding your options now could mean all the difference in the world.

The Tim Sova Team is here to help move you forward on your path of life!