Dmitry & Maureen: Moving Metro Detroit

Green Lake Newer Construction

Sun, 26 Apr 2009 09:25:20 -0500

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Welcoming Foyer	Open Floor Plan	Gorgeous, Inviting Kitchen
Kitchen Opens To Dining Room	Dining Room With Lake Views	Living Room With Fireplace
First Floor Master Suite	Second Bedroom	View From The Deck
Rear Elevation

Description

Beautiful newer 2002 custom home right on Green Lake. High end finishes throughout. First floor master. Bonus loft above garage easily finished for additional living space.Call Maureen @ 248.430.4450 to arrange a showing.

Features

Bedrooms:	3
Bathrooms:	2.1
Parking Spaces:	Covered
Year Built:	1940
Subdivision:	GREEN LAKE ALLOTMENT
Lot Size:	64x202
Garage Size:	2 Car
School District:	West Bloomfield
Square Footage:	2560
Agent Name:	Maureen Francis
Broker:	SKBK Sotheby's International Realty
MLS #:	28162387

Location

6837 Alden West Bloomfield MI 48324

vFlyer Id: 1918510

Hawthorne Hills -- Great Opportunity

Sun, 26 Apr 2009 09:21:39 -0500

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Description

Beautiful home located deep in the leafy Hawthorn Hills sub, with the price drastically reduced by more than $165,000 for faster sale! And in addition, Seller is now offering a $6,000 CREDIT TO BUYER AT CLOSING!

A great place with abundance of space to entertain/raise your family! Hardwood and premium carpet floors. Large casement windows. Spacious Family room with fireplace. Fabulous Maple Kitchen with isle, stainless steel appliances and granite countertops opening into the Family Room via Breakfast area. Butlers Pantry & 1st floor laundry room. Large size bedrooms featuring a fabulous Master suite with cathedral ceilings, spacious Master bathroom with tub, 2 sinks, his and hers walk-in closets. Walk into elegant center spiral staircase & walk down the butler staircase. Enjoy spacious partially finished basement with daylight windows and plumbing for future full bathroom. 3 car attached garage. Spacious deck. Great Rochester schools and low property taxes. This home is waiting for you to move right in!

More photos and a Virtual Tour at http://newcastle.mibirmingham.com

Features

Bedrooms:	4
Bathrooms:	3.1
Parking Spaces:	Attached garage
Year Built:	1992
Subdivision:	Hawthorn Hills
Lot Size:	115x130
Garage Size:	3 cars
School District:	Rochester
Square Footage:	4301
Agent Name:	Maureen Francis
Broker:	SKBK Sotheby's International Realty
MLS #:	28184478

Location

1644 Newcastle Court Rochester Hills MI 48309

vFlyer Id: 2053953

Short Sales Offer Solution for Metro Detroit Home Sellers

Sun, 01 Mar 2009 10:32:44 -0600

Unfortunately, the number of people who owe more than their house is worth is increasing in Metro Detroit. If you are staying in your house, you don't have a pressing issue, though the new housing bill that is coming out on March 4th may provide you with some relief. More on that later when the details come out.

If you have to sell your home now, and you are upside down, there are some things you should know. Some people have the cash to bring to closing when they owe more than it they'll net at close. Most simply don't.

One option is a Short Sale. This is when the lenders agree to accept the shortfall and write it off. They may ask you to contribute as much as you can, or they may write off the entire amount. If there is a first mortgage and a second mortgage, then both lenders will need to agree to the outcome. Other liens will complicate the picture too.

You need someone experienced in short sales to help you. Chose wisely. The bank is not expecting to deal with you: they are want the package put together by a professional. In order to have any success with the bank, the transaction requires great attention to detail and follow through. Banks notoriously lose short sale packets over and over. Last summer I faxed a short sale packet to a lender at least 12 times. I called to confirm receipt. Each time I called in, nobody knew where it was... That's just the reality.

You will not be paying the Realtor's commission, or, most likely, many of the other things associated with a short sale, like tax prorations, transfer tax, etc. The bank usually pays most of those expenses.

You need to be 100% committed to the process. Short sales are not quick and easy, but with a solid plan, the pain can be reduced.

There is really nothing “short” about short sales. They usually take much longer than the typical sale, mostly because we are waiting for banks to make decisions.

Banks usually don’t tell you how much they will accept until after you have an offer. That means we start the process without knowing how it will end. It is important to have a very good grasp of the market. You need an offer to get things really started. Pricing and marketing are key. Buyers can be scared off by short sales because they don’t want to take on the uncertainty. We have to do a good job of demonstrating that we are on top of the process.

There are some things you will need to do to facilitate your short sale:

Write a hardship letter. In your own words tell the bank why you are not able to pay the shortfall on the mortgage. Typically banks are looking for things like illness, job loss, etc, but just tell them honestly what the problem is.
Gather your last 2 tax returns, w-2's and current bank statements and current pay stubs.
Talk to the bank. The banks don't want your house, and they need to hear from you. You might run into some brick walls, but start the dialog. If you chose to work with us on the short sale, we will take over most of the bank discussions after we list the property. We will also keep you informed about our progress with the bank. We have to work together as a team to succeed, so it is important that you keep us informed to any changes in your status.

Short sales have generally not impacted a seller’s credit score as much as a foreclosure. You may wish to consult with a tax adviser to determine if you will have an tax consequences from a short sale. Short sales can be a great path toward avoiding foreclosure and a real relief for a strapped home owners.

If you need help or guidance about working on a short sale for your Metro Detroit home, we would be happy to talk to you. Here are some other articles we have written about short sales:

11 Things about Buying a Short Sale in Oakland County

A Short Sale Question

Startup Weekend Detroit is Coming -- Can You Help Make it Possible?

Sun, 01 Feb 2009 17:47:22 -0600

Shannon Paul the social media voice of the Detroit Red Wings, has taken on bringing Startup Weekend to Detroit. If there is one thing Detroit needs right now, it is jobs, and Shannon is doing her part to create some new ventures here. Who knows, the next Google or Amazon.com could be born in Detroit this year.

Shannon says:

We’re hoping to attract about 100 attendees with great ideas and deep skills, but once they get here we need to feed them — a free t-shirt would be a nice touch, too, along with some groovy stickers. We also need to make sure we have enough power strips and extension cords so everyone can stay connected throughout the event.

This way individuals and businesses can help us cover our costs with as large or small a donation as they please. Please also feel free to grab the widget and add it to your blog, website or other corner of the internet.

If your company is interested in sponsoring Startup Weekend Detroit, please drop me a line at shannonpaul5[at]gmail[dot]com.

More information on the Startup Weekend organization can be found at FAQ.

Please be sure to visit the Detroit Startup Weekend site for more information about the event.

Photo by Derek Farr (Detroit Derek)

*Photo is of a painting titled Detroit Industry by Diego Rivera on display at the Detroit Institute of Arts.

Interest Free - No Payment Loans For Oakland County Foreclosures

Tue, 24 Feb 2009 15:42:23 -0600

Last week Oakland County introduced a plan to help get some of the vacant foreclosed homes off the market in select Oakland County communities. Their press release follows.

I need to call the county and ask some questions. The program seems very generous and should help sell some foreclosed homes. I am not sure why some communities were left off of the list. For example, Birmingham is on it, but Beverly Hills is not. Royal Oak Township is on, but the city of Royal Oak is not. No go for Bloomfield Township, but a yes for Troy. This has me questioning how communities became eligible.

As much as I know the foreclosures need to get off the market, this gives them a steep advantage over the regular resale homes that are already severly challenged for finding buyers. The foreclosures are selling, for the most part, without much additional help. Low prices do that.

"Pontiac, Michigan, February 17, 2009 -- More families in Oakland County may be able to find homeownership within their means thanks to a new program administered by the Oakland County Community & Home Improvement Division. The Oakland County Home Buyer Program is aimed at helping low and moderate income families take ownership of vacant, foreclosed single family homes and condominiums as their primary residence.

An informational workshop for prospective homebuyers will be held Saturday, February 28, from 9 a.m. to noon at the Oakland County Executive Office Building Conference Center, 2100 Pontiac Lake Rd., just west of Telegraph Rd., in Waterford. Pre-registration is not required.

"Families who thought they could never afford their own home now have the best opportunity to become homeowners through this unprecedented program," Oakland County Executive L. Brooks Patterson said.

Oakland County can provide no-interest loans for down payment assistance, closing costs, home improvements or other financing. The homebuyer must prequalify for a fixed rate mortgage loan from a lending institution. This loan represents 51% of the purchase price. Oakland County will finance the remaining 49% of the purchase and rehabilitation costs up to $100,000. The homebuyer must also provide $2,000 to initiate the purchase. The homebuyer only pays on the conventional mortgage obtained from their lender. Payment on the down payment and home improvement loans is deferred until the property changes ownership.

Homebuyers with incomes at or below 120% of Area Median Income (AMI) are eligible for assistance. For example, a family of four earning up to $83,900 per year is eligible under this program.

Funding for the Oakland County Home Buyer Program is provided by the U.S. Department of Housing and Urban Development's (HUD) Neighborhood Stabilization Program (NSP). This one-time $17.4 million emergency funding supplements the Community Development Block Grant (CDBG) program to purchase foreclosed homes at a discount, and rehabilitate or redevelop the homes to stabilize neighborhoods impacted by foreclosure and abandonment, and reverse the decline of neighborhood housing values.

The Oakland County Home Buyer Program covers properties in select Oakland County communities. Contact Farmington Hills, Pontiac, Royal Oak, Southfield, or Waterford directly to inquire about home buying assistance programs in their communities."

You can find more information on the programs on the county's web site. If you need a Realtor to guide you through your purchase, I would be happy to assist you.

Clawson First Time Buyers Alert!

Thu, 19 Feb 2009 12:26:28 -0600

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Description

Wow, it's all new and ready just for you. Why rent when you can own this gem? Call now.

Renovated and ready for a new owner. Cute Clawson bungalow. So much has been done: new carpet throughout, freshly painted in neutral colors, new blinds, new sink in bath and tile in utility room. New stove and refrigerator. Spacious master bedroom with lots of built-ins and sitting room or home office. Plenty of storage. Newer hot water heater and heating system. One and a half car garage.

First time home buyer's tax credit makes it even more affordable if you qualify. Contact lister for details!

More details on the web at 39custer.mibirmingham.com Call Maureen @248.430.4450 for an appointment.

Features

Bedrooms:	3
Bathrooms:	1
Year Built:	1951
Garage Size:	1 1/2
School District:	Clawson
Square Footage:	1023
Agent Name:	Maureen Francis
Broker:	SKBK Sotheby's

Location

39 S. Custer Clawson MI 48017

vFlyer Id: 2280078

HUD Homes in Birmingham

Mon, 16 Feb 2009 08:07:04 -0600

Birmingham is certainly known for its upscale downtown, incredible restaurants and it's wonderful neighborhoods. We have pricey real estate here too, compared to much of the rest of the region.

On Inauguration Day, I showed Birmingham's only HUD home active in the MLS. To date, there are have been few HUD homes in Birmingham, but we could have more in the future.

My investor client asked me, "Aren't HUD homes in bad areas?" This seems to be a common perception, but HUD homes are the product of people who had FHA guaranteed mortgages losing them to foreclosure. 2009 FHA loan limits for Oakland County are up to $273,700, and we certainly have many homes in that price range in Birmingham.

FHA loans have allowed people to get into homes with lower down payments, and have been of particular assistance to first time home buyers. In the last 9 years we didn't see that many FHA loans financing Birmingham/Bloomfield Hills homes. It was much more common to do a piggyback loan, with a first mortgage and a second mortgage to avoid PMI. Piggyback loans gone now that underwriting guidelines have tightened up.

HUD homes are sold via incredibly transparent on-line auctions, which frees them from some of the issues that have surrounded the sales of other foreclosed homes. The bids are made through HUD approved brokers (like us), and the auction results are posted daily.

Owner occupants are given preference and may bid earlier in the process, without competition from investors. Investors also need to conduct any inspections prior to making an offer. Owner occupants are given much more leeway in this regard.

These homes provide an incredible opportunity for buyers, though one should proceed with caution.

This post appears from miOaklandCounty.com

I really can't believe this price!

Fri, 13 Feb 2009 16:05:42 -0600

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Description

Just reduced $75k! Seller offering up to $14k for moving allowance. Completely renovated from top to botton. Custom dream eat-in kitchen with large island and breakfast nook. Arched doorway to family room with stone fireplace. Library with built-ins. Mud room with half bath off kitchen. Hardwood floors. Master suite/nanny's quarters or loft on the 3rd floor. New bathrooms. Fully finished lower level with 2nd kitchen and wet bar featuring granite counters, dishwasher and microwave, exercise room and full tiled bathroom. Slate tiled back porch and secluded hot tub. 2 car detached garage and beautiful paver driveway. Extra deep 164 ft. lot. Tasteful landscaping with decorative fence in the front yard. This home combines historic charm with high end modern amenities. Exceptionally priced (the list price at the time of purchase was $1,395,000)!See more pics on the web at http://731Bates.mibirmingham.com

Features

Bedrooms:	4
Bathrooms:	4.1
Year Built:	1916
Subdivision:	Downtown Birmingham
Lot Size:	48x164
Garage Size:	2 car
School District:	Birmingham
Square Footage:	3781
Agent Name:	Maureen Francis
Broker:	SKBK Sotheby's International Realty
MLS #:	28183377

Location

731 South Bates Street Birmingham MI 48009

vFlyer Id: 2013856

Voices of Detroit

Mon, 02 Feb 2009 09:20:50 -0600

The well known Detroit broadcaster, Larry Henry, and Dave Benjamin from The Sales Matrix have started a new series of podcasts about entrepreneurs leading the renaissance of Detroit. You can find their work on the recenlyt launched VoicesOfDetroit.com

I had the pleasure of sitting down with them last week and talking about the Metro Detroit real estate market and professional business coaching along with Kim Knapp. You can listen to our podcast here. There are positive messages that Metro Detroiters need to hear about the real estate market and I was happy for the opportunity to share them.

Larry and Dave are also available to help businesses expand their reach through podcasting. Check them out.

Spacious Berkley Bungalow

Sun, 01 Feb 2009 17:10:20 -0600

Berkley Bungalow with Space Galore

Location: Berkley, MI

Wow, this home offers so much for the price. You will be surprised when you get inside. Oversized Berkley lot. Enormous master suite with deck, skylight, dressing room, master bath and library. 2 full baths. Breezeway/family room. Lovely landscaped yard. Attached garage. Newer kitchen appliances. Hardwood floors. Newer roof. Nicely finished basement adds lots more space with potential 4th bedroom, rec room and plenty of storage. Newer roof, windows, AC. Great location - close to downtown Royal Oak and shops. This is a must see!

More on the web at http://miBerkley.com or call Maureen @248.430.4450

Information

Contact Information

Maureen Francis & Dmitry Koublitsky

248.961.0801

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Pricing

Price: $150,000.00

Additional Pricing Information: Just reduced $25k

Property Location

811 Harvard
Berkley, MI 48072
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Our Blog

Features

Bedrooms: 3

Bathrooms: 2

Parking Spaces: 2 Car Attached Garage

Year Built: 1951

Lot Size: 55x129

Garage Size: 2+

School District: Royal Oak

Square Footage: 1443

Agent Name: Maureen Francis

Broker: SKBK Sotheby's International Realty

MLS #: 29007866

Attributes

Appliances

Range/Oven

Full Refrigerator

Washer/Dryer

Dishwasher

Sink Disposal

Microwave

Interior Amenities

Hardwood Floors

Vaulted Ceilings

Basement

Exterior Amenities

Patio

Fenced Yard

Grass Lawn

Photo Gallery

View as Slideshow View Photo Gallery (8 Photos)

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 2175822

Berkley Beauty

Sun, 18 Jan 2009 15:05:55 -0600

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Breezeway to garage and patio	Library or craft room	Master Suite
Master	New appliances	Dining Room
Huge Yard	Finished basement

Description

Features

Bedrooms:	3
Bathrooms:	2
Parking Spaces:	2 Car Attached Garage
Year Built:	1951
Lot Size:	55x129
Garage Size:	2+
School District:	Royal Oak
Square Footage:	1443
Agent Name:	Maureen Francis
Broker:	SKBK Sotheby's International Realty
MLS #:	29007866

Location

811 Harvard Berkley MI 48072

vFlyer Id: 2175822

You Don't Have to Blog About Real Estate To Win Clients

Thu, 11 Jan 2007 21:13:33 -0600

This is a story about a blogging success, and how ActiveRain helped me to improve my business through a blogger who I think of more for his 'deep thoughts' than for his product. As a matter of fact, it was Jeff Turner's blogs about life that made click through to his profile to figure out more about who he is.

Like many of you, I am sure, I get really tired of solicitors calling me on my cell phone to tell me about the latest greatest product that is going to give me more business than I can handle. One of Jeff's competitors, whose company bears an amazingly similar name, hung up on me recently when I asked them to email me information. Somehow, I mistakenly thought this call was from Jeff's company.

So when I clicked through to RealEstateShows.com I was hesitant, but curious because Jeff works there. When I found out that Jeff's company offered a product I had sought for a couple of years, I was floored.

I prefer slide show type virtual tours to the spinning rooms, so that is what I was looking for. I had tried a few of his competitors and had been very satisfied with the service that I have been using for over a year. RealEstateShows had two things that intrigued me enough to sign up: a reasonable price: $125 for ALL the virtual tours I might need for a year, AND a 14 day free trial period. I figured I had nothing to lose with the free trial period.

Here are a couple of the things I like so far:

It's super easy to post the tours to the MLS and Realtor.com
There is a stats section that shows me where the views on each tour are coming from
It's really very simple to upload a tour
There are neat links you can put on the tour with links to school data, maps and your personal web site
The program is very intuitive, so its easy to create a tour in a very short time
There is an enormous database of music

What I will tell you is that the service I've received far outweighs the price I am paying. Jeff personally took a look at my first tour and then sent me feedback and suggestions. A few days later, I received an completely unsolicited email about how to achieve optimal viewing on my web site. A tech guy from the company figured out a fix. I can tell you how many times my web site provider has contacted me to tell me how to do something better. None.

If you take digital pictures of your listings already, you can have a tour done in a few minutes.

I've made a commitment that ALL of my listings will have virtual tours in 2007. They will have them within two days of the listing going on line, at the latest. I know that homes with virtual tours get viewed more often on the net and they come up higher on Realtor.com. I want my listings to stand apart.

When I told Jeff that I wanted to share my joy with all of you, he gave me a little gift to pass along to everyone on ActiveRain. This promotional code will get you your subscription to the RealEstateShows.com for $99.50. You enter it when you go to pay after your free trial period and the price is adjusted from $125. It is 65acd527fca0 Thanks, Jeff!!

By providing a great product and outstanding service, I just became part of Jeff's sales force. His indirect sale by making a connection through posts completely unrelated to his product are what lead me to him. So maybe there is a lesson to be learned in there about the content we put in our posts. And, I'll be doing my best to provide the same kind of service and counsel to my own clients, so that my sales personal force can growwwwwwww! What a great way to get new business. It sure beats cold calling.

PS. I have now concluded my longest absence from posting on AR since I joined. I missed you guys.

Photo of the Beauty Bar In NY by COBA

Seller Baits Buyers With Financing

Sun, 18 Jan 2009 09:15:08 -0600

Tightened credit markets and sluggish real estate sales in Oakland County MI have sellers looking for ways to seal the deal. This week I saw a Birmingham builder do what he could to take control of the situation and set his properties apart. His answer: the land contract.

Not only is he offering land contracts, he's offering them at rates better than you will get at the bank. Today he advertised 4%! What's not to like about 4% money, especially since his homes sell at prices where the buyer is likely to need a more expensive jumbo mortgage. Other advantages of land contracts:

Potentially cheaper closing costs

Seller *might* be more lenient with credit blemishes

I think this sounds like a great incentive for buyers. Kudos to this seller for thinking outside the box and looking for a new source of buyers.

Intrigued? Take a look.

Maureen Francis is a top producing Realtor with SKBK Sotheby's International Realty in Birmingham, MI. Visit her award winning Oakland County Real Estate blog. Free Metro Detroit Home Search.

Happy New Years Oakland County!

Thu, 01 Jan 2009 12:45:26 -0600

2008 has certainly provided for lots of unexpected surprises for Metro Detroit. In January we will be rolling out a new series of posts for Metro Detroiters on how to deal with the challenges in today’s real estate market. The good news: there are previously unseen opportunities for buyers. Sellers, you are not left out, there are ways for you to get your home sold in 2009.

Dmitry and I started this year with one of the most intense personal challenges of my life. Along with our young daughter, we moved in with my parents to help care for my dying father in his final months. We put most business aside and purely focused on our family. I am thankful that real estate allowed us to make that choice, and our clients understood. We miss my dad enormously, but we feel so fortunate to have been there when we were most needed.

Perhaps Dad was looking out for us. 2008 presented us with professional opportunities like we had never seen before. In the summer it seemed like I was going on 3 or 4 listing appointments a week. The best news was that we sold most of the houses we listed, and quickly! We finished the year far surpassing any previous year we’ve had in the business since we started in 2001, both in terms of units sold and dollar volume.

I tell you this for a couple of reasons. First, I think the economic doom and gloom around us is paralyzing people and then it becomes a self fulfilling prophecy. We had a great year and we will have another great year in 2009. People need to hear the good things that are going on out there, and they certainly aren’t finding it in the main stream media. I have almost completely stopped reading the newspaper and watching the evening news.

I am finishing 2008 and starting 2009 by saying thank you. Thank you to our clients for trusting us. Thank you to our blog readers for your interest in Metro Detroit real estate. Thank you to Marianne Sweet and Ken Mascia for all of the great articles this year, and for the wonderful resources you have been for our mutual clients.

Wishing you all the best in 2009.

PS. 2009 is a great year to buy a house and an American car. Call me.

this post appears courtesy of miOaklandCounty.com

Exceptional In Town Birmingham VALUE!

Tue, 23 Dec 2008 17:47:44 -0600

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Description

Completely renovated from top to botton. Custom dream eat-in kitchen with large island and breakfast nook. Arched doorway to family room with stone fireplace. Library with built-ins. Mud room with half bath off kitchen. Hardwood floors. Master suite/nanny's quarters or loft on the 3rd floor. New bathrooms. Fully finished lower level with 2nd kitchen and wet bar featuring granite counters, dishwasher and microwave, exercise room and full tiled bathroom. Slate tiled back porch and secluded hot tub. 2 car detached garage and beautiful paver driveway. Extra deep 164 ft. lot. Tasteful landscaping with decorative fence in the front yard. This home combines historic charm with high end modern amenities. Exceptionally priced (the list price at the time of purchase was $1,395,000)!

Features

Bedrooms:	4
Bathrooms:	4.1
Year Built:	1916
Subdivision:	Downtown Birmingham
Lot Size:	48x164
Garage Size:	2 car
School District:	Birmingham
Square Footage:	3781
Agent Name:	Maureen Francis
Broker:	SKBK Sotheby's International Realty
MLS #:	28183377

Location

731 South Bates Street Birmingham Michigan 48009

vFlyer Id: 2013856