Archive

Posts Tagged ‘realtor’

Mar
15

Bank Foreclosures / Short Sales: Bargains or Moneypits?

Every Dearborn MI area home and real estate buyer looking to purchase in today’s real estate market will need to decide if they would consider buying a bank foreclosed home, or a home that is being sold as a short sale. Both of those options can have advantages and disadvantages. For many home buyers, the disadvantages greatly outweigh any advantages and they end up purchasing a home offered as a traditional sale.

In addition, you need to keep in mind that bank owned properties (foreclosed homes) and short sales are not the only good deals out there. In fact, when all is said and done, sometimes the bank owned homes will cost you more than a buying a home that is already in move-in condition.real estate dearborn mi

Bank Owned Homes / REO / Foreclosures / Foreclosed Homes
These are homes that someone purchased, defaulted on the mortgage meaning they didn’t make their payments and now a bank owns the property.

Advantage: Price may be less than other homes in the area
Disadvantages: Might become a “money pit” due to the following…

  • No utilities on: Foreclosed homes usually do not have gas, electric, and/or water services on – sometimes this has lead to dangerous mold growth. You may be required to turn the utilities on and put them in your name before you close on a bank owned / foreclosed home.
  • Stripped out: You’ll often find that these homes do not have a furnace, central air unit, plumbing, fixtures, ductwork, kitchen cabinets, electric service, toilets, hot water heater, siding, etc. have often been stripped from the house
  • Poor condition: Many foreclosures are extremely dirty, have holes in walls / trash strewn about, broken/missing windows and doors
    Water damage due to leaks, water left running, sump pumps not operational
  • Other damage: Structural issues and/or other damage to property due to neglect and exposure to elements
    The old adage of you get what you pay for is most often true with bank owned homes / foreclosures. Those that need a great deal of work Read more…

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Feb
07

Another Happy Home Seller in Dearborn Michigan

Dear Steve and Vicki,

Again, thank you both for all your help with the sale of my Mom’s house. From our very first meeting you communicated very clear goals and standards of how you conduct your business.

I am very amazed and pleased on your integrity, commitment, professionalism, knowledge and communication.

I have sold a few homes prior to this experience and although they were not bad experiences they certainly were not as smooth and easy. You made what is a challenging time for me alot easier!

Throughout this experience with you, I was informed each time the house was visited both before and after. I was given feedback promptly and you guided me though what was needed and when. 

I have recommended you to one of my family members and will continue to recommend you to others.

Have a very blessed 2012!

Thanks,

Michelle S.

If you are planing to sell your Dearborn Michigan area home or if you are in the market to Buy a home or real estate in Dearborn MI, Dearborn Heights, Garden City, Westland, Redford, Livonia, Plymouth, Canton, Northville, Novi, Farmington, Allen Park, Taylor or any one of the other Detroit Michigan west side suburb, Contact Steve Hatfield today.

Visit my web site at: www.DearbornHomes.com for complete and in-depth information about Buying or Selling a home or real estate in the Dearborn Michigan area or any one of the other Detroit Michigan west side suburbs.Visit www.DearbornHomes.com

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Nov
12

24808 Ross – Home For Sale Dearborn MI Real Estate

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Home For Sale

24808 Ross, Dearborn

Price: $49,900

“Take a Virtual Tour”

Features and Amenities:

  • Clean, move-in condition! Neutral decor!
  • Oversized lot is a bit wider and deeper than many in the area…nice!
  • Short walk to beautiful Crowley Park!
  • New vinyl replacement windows (apprx 1 yr old – all but 2 windows)
  • New storm and steel entry doors (apprx 1 yr old)
  • Lovely living room with large slider picture window
  • Wet plaster walls with coved plaster ceiling in the living room
  • Read more…

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Oct
07

Steve Hatfield and Vicki Maule – They delivered results!

“Why do we enthusiastically endorse the real estate team of Steve Hatfield and Vicki Maule? Simply this: They delivered results.

In the soft Dearborn real estate market of 2011, we contracted them to sell our house. In its first week on the market, they scheduled 16 viewings, found our buyer, and came up with a second party who said “please let us know if the first deal falls through”. We closed a month later for 98% of our asking price.”

Hugh & Cheryl M.

Southern Pines, NC

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Aug
27

Most Detroit MI area Credit Repair Companies Are Scams

It is particularly despicable when local Detroit and Dearborn Michigan area companies prey on people who are in financial distress. Unfortunately, there is no shortage of such companies.

Just take a look at the mortgage industry and the current economic recession we are in. With so many people facing foreclosure on their homes, there has been a huge rise in foreclosure prevention scams and similar rip-offs.

For a long time, there has been a predatory side of the credit industry as well. In particular, I’m talking about credit repair companies and the bold and often false) promises they make.

You Can Fix Your Own Credit Reports

Let me start with the absolute truth at the core of my argument. There is no company on the planet that has special powers over your credit report. The only thing these “repair” companies can do is help you make corrections to your credit report, which is something you can easily do for yourself. Read more…

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Aug
12

Getting the Best Mortgage Rates in the New Economy

All Dearborn and Dearborn Heights Michigan home buyers want the lowest mortgage rates possible when applying for a home loan, because it directly translates to a smaller mortgage payment each month. And who doesn’t want to shrink their monthly expenses?

But how does one obtain a low rate on a mortgage loan and, for that matter, why is it important in the first place? These are the subjects we will discuss in this tutorial for first-time home buyers.

How Your Credit Score Relates

When you apply for a home loan, you want to be sure that your lender will request your credit reports and scores from all three of the reporting companies (Experian, Equifax and TransUnion). Lenders also reserve the best rates for borrowers who fall into a certain credit category.

What score you need to qualify for this category will vary from one lender to another, but it’s safe to say that the better (higher) your credit score, the lower the mortgage rate you’ll receive. This in turn translates into a lower payment each month, which is the whole point to all of this.

Here’s something not many home buyers realize. Over the last few years, the score needed to qualify for the best Detroit area mortgage rates on a loan has risen. This is largely due to tougher restrictions on lending institutions (as a result of the subprime loan crisis of 2007 – 2008). Read more…

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