Gary White FlexIt Realty~Real Estate & Updates, Grand Rapids & West Michigan

Yesterday an early release of the Michigan unemployment statistics confirmed what those in the unemployment lines already knew.

The new unemployment rate for Michigan has hit 17%. 

We also have the dubious honor of having 2771 foreclosures in Kent County, Michigan.  Check my website www.flexitrealtymichigan.com click Foreclosures on the top button and then click a county to see the number of foreclosure homes by county.

This is dramatic or should I say catastrophic news.  Yet if you look at this in a way that sets aside the pain and misfortune of those that have lost their jobs and homes....there is a silver lining for those that have maintained good credit.

The silver lining is, more choices, more options available to find the right home.  Not just a great buy but the perfect home that fits your needs.

Buyers are king in a market flooded with inventory.  That does not mean that unrealistic offers will be accepted but the market also has seen a decline in prices to those of 10 years ago and more.

Here is the basics for finding the home you thought you could never afford.

1. Get a lender preapproval letter, so sellers know you can buy, and most times required to submit bids.
2. Set your goals the more you know what you want the faster you can react when you find it.
3. Understand your possible costs before submitting a bit on any home.  If repairs are needed who will be paying for them?  Foreclosures, it may be you.
4. Know your areas, have your research done so you know the a real value.  It is very easy to be fooled by a low price that may be the average selling price when considering area, location and condition of surrounding properties.
5. Have the ability to write your offer and have your earnest money deposit ready so you can react when the right home at the right price presents itself.

It is truly unfortunate that others have lost their homes and jobs.  This is a painful and dramatic issue that many will never fully recover from in their lifetime.  The jobless and unemployment rate is one of the tragic reasons for the market being saturated with foreclosures and Bank owned properties.

Need help?  If you think you are going to go into foreclosure....get help find out your options. 

If you are looking to invest in a HUD of foreclosure property, find a professional that is an Authorized HUD Broker and Foreclosure Specialist.  You could save thousands and find the right home at the right price!  It cost you nothing to use a Buyers Agent.

If you live in the Grand Rapids or the West Michigan area, are not under contract, want to sell or buy a home....give me a call.  Authorized HUD Broker and Foreclosure Specialist.  It could save you thousands in your next real estate transaction.  FlexIt Realty designs selling and buying programs to meet our clients' needs.  Your call is always confidential and you are never pressured.

"Help is only a Call or Click away!"©2006-2009

Call Toll Free:  877-667-4699   Local: 616-784-2360  Email: garywhite@FlexItRealty.com

I love this saying...."A Word to the Wise".  If you were talking to someone already wise why would you have to give them advice?

It seems that everyone knows real estate.  Everyone lives in a dwelling of some sort, an appartment, duplex or home.  They know that homes have windows, doors, walls and roofs.  How hard can it be to buy or sell homes?

How hard can it be to show a house to buyers?  How tough can it be to sit a sign in the yard for sellers?

Many buyers and sellers think exactly that..."How hard can it be?"  They have no idea the rules or requirements that guide the real estate profession.  Unfortunately sometimes people in the profession have no idea either, but regulations and professional ethics guide the Realtor who is a member of local MLS affiliates governed by the National Association of Realtors.

Buyers and Seller tap a very informative information stream of friends and relatives.  These information sources provide all the data anyone could ever need on the subject of real estate.  Everyone knows someone who has purchased or sold a home.  They all have "buddies" in the business too, sometimes.

So is it any wonder how a saying like "A Word to the Wise" came into being?  It wasn't created for wise people it came from the same platform as "Buyers Beware" because thinking you know and actually knowing is two very different things.

A "Word to the Wise" if you use a professional they are bound to serve your needs through a well thought out code of ethics that have be modified to meet the needs of buyers and seller over the last 100 plus years.  Click the link below to view the code of ethics.  http://www.realtor.org/realtororg.nsf/pages/consumersplash  

If you buy from a "For Sale By Owner"  use the "Buyer Beware" policy.  They are not bound by any ethical code but may be as honest as the day is long...then again thinking you know and knowing are two very different things.  Maybe they are selling a home they don't legally own.  That has happened more times than people would want to know. 

A "Word to the Wise" when selling and you create your own forms and think you have covered yourself from liability, thinking you know and knowing is two different things.  Realtors take the responsibility of making sure the contracts are correctly filled out to meet your requirements of the sale.  Liability in a society that has more law suits than any country in the world per ca-pita is taking a lot on you and your family shoulders for a few dollars in savings.

So the next time you hear....an expert advise on buying and selling homes ask who assumes my liability if I buy or sell on my own?  The answer, YOU DO! 

A Word to the Wise! 

Need to buy or sell your single largest asset....call a professional, know who is representing your best interest.

Hope this gives you "A Word to the Wise"!

If you live in the Grand Rapids or the West Michigan area, are not under contract and would like to sell or buy a home....give me a call.  It could save you thousands in your next real estate transaction.  FlexIt Realty designs selling and buying programs to meet our clients' needs.  Your call is always confidential and you are never pressured.

"Help is only a Call or Click away!"©2006-2009

Call Toll Free:  877-667-4699     Local: 616-784-2360     Email: garywhite@FlexItRealty.com

Foreclosure & HUD Home Bids can be deceiving if you don't know your true cost of repairs.

Many people look at the glut of homes in the marketplace and think what great buying opportunities.  The truth is they are right...it is a great opportunity but you have to use some common sense and understand what you are buying.

The price ranges of homes is a wide spectrum.  You can find anything in all shapes and sizes.  Some people are amazed when they see a home that has a description of 8 bedrooms and 4 baths only to do a drive-by and find out that it is a 4 unit rental property.

Other homes are described as needing some TLC.  Instead they find that the TLC means "Think Loads of Cash"!  I showed a wonderful home today.  The curb appeal was very nice.   It sported a new roof too!  We walked in and the home reeked of pets.   The original roof had leaked for months or years before a new roof had been put in place,  the plaster was on the floors.  It was in sad shape.  What a disaster for such a nice neighborhood.

The buyer looked at the repairs and felt he could do most of them himself.  He estimated the cost of materials on the spot.  I was amazed at how quickly the spouted numbers and costs.

I had to ask....how do you know the costs so quickly?  He says, " it's easy, I went to Menard's and wrote down the cost for drywall, lumber per 8 foot lengths and light fixtures."  So I asked the next obvious question, "have you had much experience with building and remodeling?"  NO, he said, "I plan on buying a book so I understand the fundamentals and should be fine. "

I moved on without comment.  He seemed to have a wide array of knowledge or a bunch of cash.

Knowing your costs of materials is one thing, making the repairs is quite another.  I find that many people under estimate the cost of repairs.  Other like my buyer jump into projects and then have to hire a professional to come and finish what they started.

Make sure you get a professional to quote your repairs even if you plan on doing them yourself.  This way you have a good handle on your future costs. 

This allows you to make bids for homes based on facts and you can be assured your estimates are going to be close.  The last thing you will want to do is buy a money pit because you didn't take all the costs into consideration.

Hope this helps you consider your costs with your next foreclosure or HUD home bid.

If you live in the Grand Rapids or the West Michigan area, are not under contract and would like to sell or buy a home....give me a call.  It could save you thousands in your next real estate transaction.  FlexIt Realty designs selling and buying programs to meet our clients' needs.  Your call is always confidential and you are never pressured.

"Help is only a Call or Click away!"©2006-2009

Call Toll Free:  877-667-4699     Local: 616-784-2360     Email: garywhite@FlexItRealty.com

Foreclosure Bus Tours Is it Right for YOU?

This type of marketing of foreclosure homes has been going on all over the nation for over a year now.  Is this the right method for you to find a bargain?

Here are a few thoughts that may make you think twice.

All you have to do to be included on these tours is have a pre-approval letter from your lender.  That is simple enough you should have that before you start your home search anyway.

But have you considered the other issues?

•1.    Multiple buyers are looking at the home at the same time.  This drives competition and you may be in a bidding war for the home you like.

•2.    You have people all around you while you are viewing the home.  You lose the privacy of a personal showing.

•3.    You are limited on questions until later, after the bus tour.  Why would you want to tip your hand or ask a question that creates another buyer to bid against you?

•4.    You may spend all day and not see a home that interests you....your schedule is based on the agents idea of what the good buys are, not on what you are looking to find.

•5.    If the home doesn't interest you do you wait in the bus while others stream through the home?

•6.    Taking photos to review later is a good idea.  If you only take photos of homes you are interested in, people on the tour will note to themselves which homes you are photographing. Again creating more competition....which means a good option is to photograph all homes and discard the photos of homes you have no interest later.

Who wins on a bus tour?  Obviously the agent or company that is doing the bus tour to sell homes creates competition ahigh selling prices...more commission.  I find that personal tours of homes that meet your exact needs works better.  The competitive bids can still happen but you are less likely to create competitive bids when you are alone.  The crowd effect increases your chances of competitive bids.  You spend less time looking at homes that don't meet your needs or may be in poor condition or wrong location.

You have more time to spend on homes that meet your criteria.  You only see homes that will meet your needs instead of a whole cross-section of homes that may or may not be what you want.  Remember bus tours are about mass appeal so the homes selected are based on what is most likely to sell quickly.  This means the homes can be selected on price alone.  If the home you would normally find is outside the price range you may never see it.

Personal services are personal.  Agents and companies have enjoyed limited success with the mass showing approach.  It sounds like a great way to see a bunch of homes and it is....are they the right ones?  The reasons companies stop this method of showing homes after a brief time is cost and results.

If you are looking for a Foreclosure or HUD home call an authorized broker or agent.  Get a personal tour of a home that fits your needs.  You don't need to sit in the back of the bus....to find the right home!

Short Sale ~ Foreclosure ~ Authorized HUD  Broker

Not under buyer contract and want a bargain price home?  Give me a call for a personal tour of homes that meet your needs.

"Help is only a Call or Click away!"©2006-2009

Call Toll Free:  877-667-4699
Local: 616-784-2360  Email: garywhite@FlexItRealty.com

Vacations and the Economy?

I just traveled north of my home two and half hours this week and noticed something different.  Fewer campers, fewer cars, fewer families on the roads taking advantage of summertime vacations.

Many of my clients have chosen to make shorter trips in distance and time doing what they call "weekenders".  Taking a Friday or Monday and combining it with the weekend so it turns into a mini-vacation.  Others have decided to stay home and create a family fire pit, remodel, update a patio or backyard area.

The economy has created major concerns for people that would normally take a vacation.  They tightening their belts taking a look at savings.  The Michigan economy tops the nation in jobless statistics and the effects are broad based.  The number 1 status isn't enviable.  It means that one in every 5 people in Michigan is jobless.  That is the stark reality.

I am getting more calls for land contracts, lease options, rentals.  So finding to creative ways to spend less and still enjoy family time and unwind isn't in the cards for many families.  They are scrambling to find a place to live, to simply survive.

I have started putting a list of the families that need help and sending out emails to active agents that may have a property for one of these clients in need.  We take the time to screen them, make sure they are ready with all the paperwork, for credit history and job status.  This practice expedites their ability to respond when the right property comes available for them.

Fewer vacationers is a sign of the stressed economy but we can impact those that seek help.  It is very gratifying to see a smile when they thought it was hopeless.

How are you doing in this economy?

Can you call Yourself a Good Samaritan?

Yesterday I traveled to a city I rarely go to was quickly lost.  I needed to get to the local hospital, my nephew was having emergency surgery, as the result of a car accident.  My sister wanted me to be there.  I stopped and asked several times for directions because there wasn't a hospital direction sign anywhere.  I thought that to be strange for one of the largest hospitals in Northern Michigan.  Anyway, the first two people I asked were on vacation and had no idea where to direct me.

I spotted a lady getting out of her car and going into a grade school, I quickly made a "U Turn" and swept into the parking lot and asked her for assistance.  She looked at me and wrinkled her face...then said you know I know right where it is....I have no idea how to give you directions.  I thought to myself, perfect she knows but!

Then she looks at her watch and says...."look I have no idea how to tell you to get there....so follow me and I will take you, I have time."  I protested that she didn't have to do that I would just ask another person to get directions.  She says, "don't be ridiculous I am happy to do it."

She hopped into her car and I followed like a puppy dog on wheels behind her.  Within 10 minutes I was sitting in front of the parking lot at the hospital.  She jumped out of her car and says, " there's the parking lot."  I asked, "how can I ever repay you?"  She smiled and said, "You already have with your Thank You."  She then turned, jumped into her car and zipped off.

Being a Good Samaritan isn't about what you will get it is about what you can give.  I was blown away with the kind gesture and she was happy to help.  Many would have just said they couldn't tell me or help me and said sorry and that would have been the end of it and I would have nothing of it.  Since I caught her at a school I made a mental note of the school.  I plan another trip back and I will get her name and send her some follows with a little card....."Thanks for being a Good Samaritan.  I wonder if she'll remember?

Have you ever been a Good Samaritan?  Giving up 10 minutes may make a lasting impression.

Living in Your Home VS Selling your Home, There is a Difference!

When you are not selling your home you can pretty much live your lifestyle any way you see fit.

When you decide to sell your home living in your home and selling your home take on very different meanings.

Living in your home you can have the junk drawers....I think I have two myself.  I think almost everyone but the most twisted neat freaks have a junk drawer! :-)

You can have your closets packed full so you have to put a visitors coat on your bed or other convenient dropping place.  You can have a week's worth of newspapers stacked up next to your favorite chair.  You can have dishes from the last time you run the dishwasher sitting inside.  You can have your basement or garage packed full of collectables...those things you know you are going to need if you throw them away!

Clutter is the enemy when selling your home.  Your collectibles may be your prize possessions but they might be the perfect attractor to the future owners small children who grab one before mom or dad has a chance to say "NO" and it brakes on the floor.  Collectibles take up space too, which is what you want buyers to see....space for their possessions.

All those family photos with nails or hanger brackets....all buyers see is patching walls!  That workbench area with all those must have treasures you collected....that interprets to no space and no storage options in the buyers mind.  Remember it only takes one buyer to sell your home but it may take many showings to find that one buyer.

Look at your home from a new perspective when you are ready to sell.  Living in your home versus selling your home is two different things.  Sure it may interrupt your lifestyle for a little while but you have to do what you have to do to reach your goals.

A few simple steps and your could be the former owner!  Happy selling!

If you live in Grand Rapids or West Michigan area, are not under contract, would like to sell or buy a home....give me a call.  It could save you thousands in your next real estate transaction.  FlexIt Realty designs selling and buying programs to meet our clients' needs.  Your call is always confidential and you are never pressured.

"Help is only a Call or Click away!"©2006-2009

Call Toll Free:  877-667-4699     Local: 616-784-2360  Email: garywhite@FlexItRealty.com

 Do You Communicate Your Efforts To Sellers?

Sellers need a communication stream of information or they never know what you are doing for them.  I had a perfect example this week.  One of my agents clients calls for the agent, who is out of the office, as should be the case.

The seller says, "I haven't heard from the agent in weeks, are they still working?"  I assured them they were still actively working on selling their home in fact, "have you seen the magazine ads with your home listed or the cable ads your agent is running in addition to the virtual tours and Internet advertising being done on your behalf to sell your home?"

The seller says I had no idea all this was being done. 

I told the seller I would put magazine ads and copies of the other advertising in the mail along with links to the various websites for them to see what the agent has been doing to market their home.  I will also pass along we spoke and have your agent call you as well. 

The client was happier than I was when we ended out conversation.  This is such an easy part of the business and crucial to retaining clients.  Why agents think communication is not important is beyond me.  In a difficult market communication is the cornerstone of your relationship building efforts. 

If you do a disappearing act after you list a property you can count on your clients doing a disappearing act on you when the contract expires!

Do you think communication is important?

If you are a licensed Michigan Realtor or Broker and want to know how you can not only survive but thrive in this market, give me a call.  Your call is always confidential, it is only talk but could be the best career move you ever made!

"Help is only a Call or Click away!"©2006-2009

Call Toll Free:  877-667-4699
Local: 616-784-2360 
Email: garywhite@FlexItRealty.com  

I recently listed a home and the seller shared her mortgage information so I could do a seller's net sheet.  Meaning I could give the seller an estimate of her selling expenses and potential profits or losses from the sale.

The seller told me the mortgage amount.  I did the net sheet and she was thrilled with the expected profits.

I listed the home and began to set up the marking.  At same time as the listing I requested preliminary title work.  I was a bit surprised when the title work came back to with two additional loans, a second and third.  This changed the whole picture.  The seller went from a profit to a loss.

I made the call to discuss what the title search had revealed.  The seller thought those wouldn't make any difference because he was going to put those on his new purchase.  That might be possible but right now these additional loans are liens on the property we are selling.

So I shared the new net sheet with the seller.  They said I can't do this.  I don't have that kind of money to bring to close.  Can we raise the price and let the buyer pay this off for me, asked the seller?

Here it is....sure you can raise the price.  Raising the price will be fine if it does not price you out of the market.  If you are priced higher than like homes all you will do is help sell the other homes and you are asking your agent to waste his time and marketing money on a home that won't sell.

Evaluate your selling potential before you list your home with a Realtor.  They won't be able to give you the facts if they don't know them.

Hope this helps your evaluate your selling potential.