Livingston County Michigan

Flint / Genesee County Michigan

Oakland County Michigan 

Bank and government owned home info:  

REALTYTRAC SPECIAL REPORT
Who’s Best to Buy From: Fannie, Freddie or HUD?
All told, over 600,000 foreclosed properties are owned by banks and government entities nationwide, giving homebuyers and investors ample inventory to choose from. About 25 percent of those foreclosed REOs (real estate owned) are owned by the federal government. As the nation’s largest landlord, Uncle Sam needs to sell over 150,000 REO properties.

But there are significant differences in price, discount and the time it takes to sell among the various government agencies selling foreclosed homes, including Fannie Mae, Freddie Mac and the U.S. Department of Housing and Urban Development (HUD).

Buyers purchasing Fannie Mae REOs saved an average of 28 percent, paying $97,081 for Fannie repos purchased in the fourth quarter of 2011, according to an analysis of RealtyTrac data. Freddie Mac-owned properties sold for a slightly higher average discount of 30 percent. But the biggest average discount was on HUD-owned homes, for which buyers saved 59 percent.

Here’s a snapshot of the three government agencies that hold the largest inventory of foreclosed properties:

Finding the perfect home at the price.

There are a number of things that need to be considered when buying a home in southeast Michigan. Location is one important factor.  What makes one location more desirable than another? Aside from an intangible feeling about a place, there are a number of qualities that set some neighborhoods apart, such as:

• Schools with high academic standards.
• Desirable homes.
• Public parks and recreation areas 
• Proximity to good shopping.
• Public facilities like community centers.
• Cultural, Entertainment, and Sporting Venues.
• Places of Worship. 
• Proximity to place of employment.
• Proximity to nature, like lakes, rivers, and forest.

Southeast Michigan including Brighton, Hartland, Highland, Fenton, Lake Fenton, Grand Blanc, Linden, and Swartz Creek among others has an abundance of all of these things. 

Doing thorough neigborhood research is critical if you truly want your home to fit your needs. Here are some basic strategies:

Call City Hall

You may like an area now, but you could feel differently if a football stadium or six-lane highway will be your future neighbor. Check with local officials on the zoning of neighborhoods and the likelihood of any substantial public projects. Large projects such as major road construction are planned years in advance.

Resale Potential

Though appreciation can be an impossible thing to predict, it's good to at least try to determine a home's resale potential. Slow selling homes may just be a function of the current market, but they could also indicate problems (or perceived problems) with the neighborhood that could affect resale. Check for any information on new industries or companies moving to the area in the future that could lead to housing demand later.

Do the Footwork

Probably the most important step in researching neighborhoods is to get a first-hand look. Talk to residents, visit local schools, businesses, and parks, and get to know your way around. If you plan on using public transportation, see what options are available. Be sure to visit the neighborhood at several different times of day. Three quick ways to scope out a neighborhood:

• Eat at local restaurants (non-chains) to get a feel for the people.
• Attend a community meeting.
• Read the community newspaper for at least a week.

In the end your impression of a neighborhood will largely be an emotional reaction. By researching the facts and future of a given neighborhood, you'll ensure that your hunches are well informed.

Real Estate Solutions

In today’s real estate market, you need to work with a real estate professional you can trust. I am dedicated to providing the absolute finest service and expertise possible for my clients. Whether you are buying or selling your primary residence, a second home, or relocating to a new neighborhood, I can help make your home ownership dreams come true.

Whether in the buying or selling process, my website offers a wealth of information to help you.