Buying or Selling Real Estate “Expect the Best”

Home Pending Sales Index

Greater Lansing, Michigan Real Estate Market Affordability – Record low mortgage interest rates boosted NAR’s forward-looking pending home sales index 6.7 percent in April to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5. “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market, too,” says NAR Chief Economist Lawrence Yun. Read the NAR Press Release

Tax Credit Can Be Used on Closing Costs

FHA will now permit its lenders to provide a short-term bridge loan that will let qualified home buyers use the tax credit to either make a larger downpayment above the FHA required 3.5 percent, cover closing costs, or buy down their interest rate. NAR has supported monetization of the tax credit, which was part of an Obama administration housing stimulus plan enacted earlier in the year.
Read the Press Release.
Read the HUD Mortgagee Letter.

Making HOME Affordable: Dealing With Difficult Servicers

NAR has outlined steps members can take if they’re working with a mortgage servicer that appears not to be following federal Making Home Affordable guidelines. Making Home Affordable is the federal government’s effort to help shore up housing markets by standardizing procedures for loan workouts and refinancings for troubled subprime and other borrowers.

Buying or selling a home in today’s greater Lansing, Michigan real estate market can be complicated without having the proper expertise and guidance throughout the process. Visit http://mikebowler.com  for tips that will assist you.

“Expect the Best” Mike  

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
Search Listings

Good News for Michigan home buyers as MSHDA,  The Michigan State Housing Development Authority, announced today that Rates would be reduced. The greater Lansing real estate market qualifies for the programs being offered, in addition to the Federal Tax Credit being offered.

Effective for all Single Family Loan Program reservations received on or after Monday, June 29, 2009, interest rates are as follows:

First Mortgage w/no DPA – (FHA, VA, Conventional & RD) – Fixed Rate, 30-yr term
6.250% - No Discount Points – Amortization Factor – 6.15717

First Mortgage with DPA – (FHA, RD, Conventional 97% & NSP) – Fixed Rate, 30-yr term
6.625% - No Discount Points – Amortization Factor – 6.40311

Graduate Purchase Assistance Program – Conventional Loans ONLY
5.000% - w/no DPA – Amortization Factor –   5.36822
5.375% - with DPA – Amortization Factor – 5.59971

Mortgage Credit Certificate Program is also Coming Soon!
MSHDA’s Board of Directors approved the temporary reactivation of Mortgage Credit Certificates (MCC) and MSHDA set aside $46.4 Million for the program.  The MCC program rolls out July 13, 2009 and is another tool to spur the sale of homes and enhance homeownership in the State of Michigan.

MCC’s operate as a federal income tax credit to assist low to moderate-income homebuyers, and this year’s program establishes a tax credit rate of 20%. MCC’s are available on the purchase of single-family homes, condominiums and some manufactured homes. Borrowers must intend to occupy the property as their primary residence, and sales price and income limits
May apply.

MSHDA invites banks, credit unions, and mortgage companies across the state to participate and many have signed up. 

The Federal Reserve announced that it will keep short-term interest rates down for the next few months, but made no similar pledge on Treasury securities.

“Expect the Best” Mike

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
Search Listings

Many Greater Lansing Real Estate homes qualify for the additional home buying assistance program through MSHDA, in addition to the new federal tax credit. Here’s an example of a wonderful opportunity that can be bought this Sunday, June 14th, between 1:00 p.m. and 3:00 p.m.

MAR reported today that The Michigan State Housing Development Authority has significantly expanded its down-payment assistance program that, when combined with the new federal tax credit, would provide more than $15,000 in help for first-time home buyers.The loans - - which have zero interest and don’t have to be paid back until the home is sold or the mortgage refinanced or paid in full - could be used for closing costs, expenses such as setting up escrow accounts, or down payments. The federal recovery package approved in February provides first time homebuyers with an $8,000 tax credit.

“MSHDA has raised its limits on the household income for buyers eligible for the $7,500 loan from $55,000 to nearly $95,000,” said Mary Townley, MSHDA’s director of homeownership. “We felt we just needed to provide more tools for home buyers.”

For both the federal and state programs, buyers are eligible if they haven’t owned a home in the past three years. The federal credit runs through Dec 1. The state loans can be used for homes worth up to $224,500.  Income limits and other information can be found at MSHDA’s Web Site. 

 The above property is located at 1132 Morris Ave. Lansing, MI 48917.Take Saginaw Hwy 3 blocks east of Waverly Road, go north on Morris Ave.  Edgemont Park Sub, Waverly School District. A quaint red brick ranch with front porch great for rocking and back porch for grilling. This 3-bedroom home has hardwood floors throughout, refinished in 2008, beautiful kitchen with ceramic tile, updated hardware on cabinets, recessed lighting and spacious living room. Completely remodeled bathroom in 2006, (new tub/shower, toilet, sink, lighting, and medicine cabinet). All new light fixtures and modern paint throughout.

Other features include, high-efficiency furnace, central air, and replacement windows throughout, a partially finished and updated knotty pine basement. Enjoy the fenced in backyard, and garage. This home is a must to see.

“Expect the Best” Mike

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
Search Listings

Greater Lansing, Michigan has always been popular for real estate open houses on Sunday afternoon for years. Homes are usualy open anywhere between noon and 5:00 p.m. in most areas, including Delhi Township, Holt, Delta Township, Grand Ledge, Dewitt, Mason, Dimondale, Haslett, Okemos, East Lansing or Bath. Here’s a handy short video that will give you many ideas, to make sure your open house is well prepared for and successful.

You can find additional tips on selling your home, home ownership and buying a home here.

“Expect the Best” Mike

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
Search Listings

Situated in the heart of Delta Township, Waverly High School has a population of over 1,100 students. Part of the Mission Statement indicates “excellence in education” Opportunities are in abundance at Waverly High School for students many curricular, fine arts, extra-curricular and athletic opportunities. 

Opportunities are in abundance at Waverly High School for students, who have a 20-page student code of conduct based upon the ideal that all students will conduct themselves according to the Waverly character clusters of caring, honesty, respect and responsibility.

The Waverly Community Schools communicate to the students, staff, parents and community with a variety of sources.  Web, print publications, and television are all utilized to provide information about the Waverly Community Schools.

Looking for more community information? housing information, or real estate market updates, stop back here or visit my other community Blogs. You can also subscribe, RSS to your favorite reader.  

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
Search Listings

Home sellers in the greater Lansing area will now have an opportunity to attract additional buyers to buy their home with peace of mind. Adding this program to the Tax Credit for first time homebuyers, the low pricing of homes, and record low interest rates, I would suggest sellers make this part of your marketing plan when selling.

Through the Coldwell Banker Business Advantage program, sellers can now offer a mortgage payment protection plan to homebuyers. This program, available from The Paycheck Guardian, features Job Loss Protection, Accidental Disability Protection, and Accidental Death Protection. 

If a seller agrees to purchase the program, then they can include this program as an additional feature on their home listing. The program provides a qualified homebuyer with a monthly benefit of up to $1,500 for 6 months in the event the buyer becomes unemployed. The plan also includes a lump-sum payment for Accidental Death of $10,000.

Program benefits include:
· Peace of Mind Protection - addresses the fear of job loss
· Pays cash benefits directly to the home buyer if their income stops due to job loss or accidental disability 
· Covered individual can receive up $1500 per month and a $10,000 lump sum accidental death benefit
· 4 or 6 month benefit plans available
· Differentiates sellers listing from others on the market
· No sign up fees and no premium payment until the home is sold
· Easy internet enrollment after closing

Home sellers who are thinking of moving up, may have a wonderful window period here for the next six month’s to sell their house and buy another one. If you woud like to know the value of your home in today’s market, look at your options, or learn more about the above marketing program, feel free to contact me for an appointment.

“Expect the Best” Mike

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com  
Website for Clients: MikeBowler.com
Search Listings

Delta Township’s annual De-Junking Days will take place at the Delta Township Recycling Center on May 14th, 15th and 16th at 5717 Millett Hwy. Delta Township offers this special, once a year program to Township residents in an effort to recycle more household contents. This is an opportunity to clean house, yard and your garage of un-wanted items. This program is for Delta Township residents only and requires a voucher obtained from the Township Hall. You can get full details and a list of elegible items here.

Three other family events to watch for this summer in Delta Township are the 34th Annual Fishing Derby and Kid’s to Kid’s Sale - June 13, 2009 at Sharp Park, and Delta Rocks! 11th Annual Family Festival - June 27, 2009 12:00 - 6:00 p.m. 

Did you know that Delta Township became an incorporated charter township on August 7, 1962. However the history of Delta goes back to 1837. The Delta Township Historical Society has much to offer our community to gain knowledge and become aware of our roots.

Delta Township, Lansing, Michigan is a great place to Live, Work, and Play

“Expect the Best” Mike

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
Search Listings

I am prepared to employ the latest techniques and services for your benefit, just like you’ve grown to expect from a professional. Real estate transactions are complex, involve large assets and demand competent representation.  Marketing properties, home selection and financing are just a few of the skills today’s consumer looks for when they select a real estate professional. I am prepared to offer my clients the knowledge and expertise to counsel them in relocating, buying, investing or selling the family home. In today’s market, you need someone who knows what they’re doing and will work hard to get the job done. My knowledge of the real estate market, negotiating skills, and ability to listen to clients’ needs and desires keep me ahead of my competition.  

“Expect the Best” Mike

NAR is in need your help to let lawmakers know the strength and collective power of the REALTOR family. The last all member Call to Action on the stimulus package recorded only an 8.7% response nationwide.

I sent this out to my friends on Twitter, Facebook, and LinkedIn today:
Are you a Realtor? If so, it’s your duty and obligation to register for “The Call to Action” Support your Industry today!

It start’s at the top with Brokers, you can check here to find out if your Broker’s involvement with the Call to Action program. If you don’t see them listed, you may want to forward this link to them to get on board.

The Portal is your Brokers point of entry for reviewing and approving Calls for Action messages that will be sent on your companies behalf to each agent.
Those of you signed on to use the automatic feature; NAR will send your agents the Call for Action. Now that’s a cool way for informing all members.

Now more than ever, it is critical for REALTORS^® across America to come together and speak with one voice about the issues facing our profession and our country.

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
Search Listings

Websites, Blogs, Lenses, Hubs, profile pages, links, signatures and drip email are words and activities that have replaced the old fashion classified ads, cold calls, snail mail, and prospecting.

In today’s market agents who are buying into reaching the e-consumer have their own web domain name, and their own website vs. just a profile on their brokers site. The savvy agents are Blogging on current real estate subjects to drive traffic to their website. These same agents are taking classes, seminars, and workshops to re-tool their skills for Internet marketing.

Just having a website is no longer enough. Realtors need to connect with information on community, housing, financing, and have great search capabilities. The number one reason for adding the tools of Blogs, pod-casting, and other media like social networking, is to drive traffic to your site.

Notice I keep saying “Drive Traffic to Your Site” Your site is where you have the IDX  for all properties available for sale. (If not, you should) The website should also have capabilities for drip mail, prospecting, reports, and statistics on activity. Point2Agent offers these features and benefits plus numerous others with their “Professional Version” which I recommend.
Let’s look at some statistics NAR published awhile back:

•    84% of Home Buyers turn to the Internet to search homes.
•    99% of consumers surveyed prefer listings with virtual tours and multiple photos.
•    69% of our home searchers are not yet working with an agent
•    81% of our home searchers plan to buy a home within the next 12 months

Now, if this is true for home buyers, this is the place to be found. Most brokerages are not going to spend the time or the money to promote you as an agent on their website. Part of your business plan should be: Get your own website now. Start a Blog Now. Get your own domain name now. Post a minimum of once a week on your Blog. Put your profile with a link back to your site on all the major Portals (Like Trulia, Googlebase, Zillow) and other social networking sites.  Take classes like ePRO, Webographers or PRETEC Sessions being offered in your area, to become tech-savvy enough to discuss marketing options with your sellers.

“Expect the Best” Mike

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
Website for Agents: MikeBowler.net