tag:blogger.com,1999:blog-26638867373930288312024-03-12T19:20:19.895-07:00Real Estate with PatriceInsights, trends and housing market updates. So you can feel confident when buying and selling your home.Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.comBlogger55125tag:blogger.com,1999:blog-2663886737393028831.post-31300325513180013412017-02-15T08:33:00.000-08:002017-02-15T08:33:07.154-08:00The Great News About Rising Prices for Homeowners<div class="separator" style="clear: both; text-align: center;">
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Recently there has been a lot of talk about home prices and if they are accelerating too quickly. In some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.</div>
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The great news about rising prices, however, is that according to <em>CoreLogic’s</em> <a data-saferedirecturl="https://www.google.com/url?hl=en&q=http://www.corelogic.com/blog/authors/frank-nothaft/2016/10/us-economic-outlook-october-2016.aspx%23.WAeE4pMrJE7&source=gmail&ust=1487257505180000&usg=AFQjCNG_z2Z70HFeIMzdMVu1F2teTDmegw" href="http://www.corelogic.com/blog/authors/frank-nothaft/2016/10/us-economic-outlook-october-2016.aspx#.WAeE4pMrJE7" style="color: #1155cc;" target="_blank"><em>US Economic Outlook</em></a>, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.</div>
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The map below was created using the same report from <em>CoreLogic</em> and shows the average equity gain per mortgaged home from June 2015 to June 2016 <em>(the latest data available)</em>.</div>
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<a href="https://4.bp.blogspot.com/-jhBJF7Ur0zI/WKSBqpsBBRI/AAAAAAAABfA/V41g3tsKVO4rzj7HWPondAmbzIXZGa7sACLcB/s1600/unnamed%2B%25284%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="300" src="https://4.bp.blogspot.com/-jhBJF7Ur0zI/WKSBqpsBBRI/AAAAAAAABfA/V41g3tsKVO4rzj7HWPondAmbzIXZGa7sACLcB/s400/unnamed%2B%25284%2529.jpg" width="400" /></a></div>
For those who are worried that we are doomed to repeat 2006 all over again, it is important to note that homeowners are investing their new-found equity in their homes and themselves, not in depreciating assets.<br />
The added equity is helping families put their children through college, invest in starting small businesses, allowing them to pay off their mortgage sooner or move up to the home that will better suit their needs now.<br />
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<strong>Bottom Line</strong></h3>
<em>CoreLogic </em>predicts that home prices will appreciate by another 5% by this time next year. If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, let's get together to discuss your options!<br />
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-30955976547114570462016-11-11T12:20:00.003-08:002016-11-11T12:20:49.138-08:00Thank You for Your Service!<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-X8A6Ea9G9YY/WCYn6LIO15I/AAAAAAAABVc/CIzVXe-Oomod3Tnhv8uRKEMsUag8v-njgCLcB/s1600/20161111-683x1024.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="640" src="https://1.bp.blogspot.com/-X8A6Ea9G9YY/WCYn6LIO15I/AAAAAAAABVc/CIzVXe-Oomod3Tnhv8uRKEMsUag8v-njgCLcB/s640/20161111-683x1024.jpg" width="426" /></a></div>
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<em style="box-sizing: border-box;">Thank you for your service!</em></h3>
<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-74164435688470739422016-11-08T06:26:00.000-08:002016-11-08T06:26:04.423-08:00Think All Millennials Live in Their Parent's Basement? Think Again!<div class="separator" style="clear: both; text-align: center;">
<a href="https://3.bp.blogspot.com/-p3f9ATngCSc/WBy1z7K3cfI/AAAAAAAABUQ/xatGBwCTp7s755T7WNgPQtcBvBjVFKwUwCLcB/s1600/20161103-Share-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://3.bp.blogspot.com/-p3f9ATngCSc/WBy1z7K3cfI/AAAAAAAABUQ/xatGBwCTp7s755T7WNgPQtcBvBjVFKwUwCLcB/s400/20161103-Share-STM.jpg" width="400" /></a></div>
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According to the <em style="box-sizing: border-box;">Census Bureau</em>, millennials have overtaken baby boomers as the largest generation in U.S. History. Millennials, or America's youth born between 1982-2000, now represent more than one quarter of the nation’s population, totaling 83.1 million.<span id="more-34484" style="box-sizing: border-box;"></span></div>
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There has been a lot of talk about how, as a generation, millennials have <em style="box-sizing: border-box;">‘failed to launch’</em> into adulthood and have delayed moving out of their family’s home. Some experts have even questioned whether or not millennials <em style="box-sizing: border-box;">want</em> to move out.</div>
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The great news is that not only do millennials <em style="box-sizing: border-box;">want</em> to move out… they <em style="box-sizing: border-box;">are</em> moving out! The <em style="box-sizing: border-box;">National Association of Realtors (NAR)</em> recently released their <a href="http://www.realtor.org/reports/highlights-from-the-profile-of-home-buyers-and-sellers" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" target="_blank" title="2016 Profile of Home Buyers and Sellers"><em style="box-sizing: border-box;">2016 Profile of Home Buyers and Sellers</em></a> in which they revealed that <span style="box-sizing: border-box; font-weight: 700;">61% of all first-time homebuyers were millennials in 2015! </span><span style="box-sizing: border-box; font-weight: 700;"> </span></div>
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The median age of all first-time buyers in 2015 was 31 years old.<span style="box-sizing: border-box; font-weight: 700;"> </span></div>
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Here is chart showing the breakdown by age:</div>
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<a href="https://3.bp.blogspot.com/-9c2YxVZ67LM/WBy2OMGh9ZI/AAAAAAAABUU/q30h4p7PGbgnku23FVfdS47Mo5e4tRLFgCEw/s1600/20161103-STM-ENG.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="300" src="https://3.bp.blogspot.com/-9c2YxVZ67LM/WBy2OMGh9ZI/AAAAAAAABUU/q30h4p7PGbgnku23FVfdS47Mo5e4tRLFgCEw/s400/20161103-STM-ENG.jpg" width="400" /></a></div>
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Many social factors have contributed to millennials waiting to buy their first home. The latest <em style="box-sizing: border-box;">Census</em><a href="http://www.census.gov/housing/hvs/data/histtabs.html" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" target="_blank" title="results">results</a> show that the median age of Americans at the time of their first marriage has increased significantly over the last 60 years, from 23 for men & 20 for women in 1955, to 29 & 27, respectively, in 2015.</div>
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Those who went to college and took out student loans are finally paying them off, as the terms on traditional student loans are 10 years. This means that a large portion of the generation is making its last loan payments and is working toward saving for a first home.</div>
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As a whole, the first-time homebuyer share increased to 35% of all buyers, up from 32% in 2014. Not all millennials are first-time buyers, they also made up 12% of all repeat buyers!</div>
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<span style="box-sizing: border-box;">Bottom Line</span></h3>
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Millennials will continue to drive the housing market next year, as well as in the years to come. As more and more realize that owning a home is within their grasp, they will flock to own their piece of the American Dream. Are you ready to buy your first or even second home?</div>
<h3 class="related_post_title" style="background-color: white; box-sizing: border-box; clear: both; color: #00aeff; font-family: "Roboto Slab", serif; font-size: 20px; line-height: 1.1; margin: 0px !important; padding: 0px !important; position: relative;">
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-1862609617466802002016-11-07T06:17:00.000-08:002016-11-07T06:17:03.359-08:00How Long Do Families Stay in a Home?<div class="separator" style="clear: both; text-align: center;">
<a href="https://4.bp.blogspot.com/-6sSvIo8DXdc/WBy0n_uMwzI/AAAAAAAABUA/Jb5H7FWTBOcTVRDsky3X4KitxC5J1aqJQCLcB/s1600/20161102-Share-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://4.bp.blogspot.com/-6sSvIo8DXdc/WBy0n_uMwzI/AAAAAAAABUA/Jb5H7FWTBOcTVRDsky3X4KitxC5J1aqJQCLcB/s400/20161102-Share-STM.jpg" width="400" /></a></div>
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<span style="background-color: white; color: #6b6b6b; font-family: "Open Sans"; font-size: 14px;">The </span><em style="background-color: white; box-sizing: border-box; color: #6b6b6b; font-family: "Open Sans"; font-size: 14px;">National Association of Realtors (NAR)</em><span style="background-color: white; color: #6b6b6b; font-family: "Open Sans"; font-size: 14px;"> keeps historic data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. </span><span id="more-34480" style="background-color: white; box-sizing: border-box; color: #6b6b6b; font-family: "Open Sans"; font-size: 14px;"></span><span style="background-color: white; color: #6b6b6b; font-family: "Open Sans"; font-size: 14px;">As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.</span><br />
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<a href="https://4.bp.blogspot.com/-fmYhh_uELs8/WBy0-ACXJTI/AAAAAAAABUE/d-B1ednyk-AElakr6BPwa6_JvM6ZPKqpgCLcB/s1600/20161102-STM-ENG-1024x768.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="300" src="https://4.bp.blogspot.com/-fmYhh_uELs8/WBy0-ACXJTI/AAAAAAAABUE/d-B1ednyk-AElakr6BPwa6_JvM6ZPKqpgCLcB/s400/20161102-STM-ENG-1024x768.jpg" width="400" /></a></div>
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<span style="box-sizing: border-box;">Why the dramatic increase?</span></h4>
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The reasons for this change are plentiful. The top two reasons are:</div>
<ol style="background-color: white; box-sizing: border-box; color: #6b6b6b; font-family: "Open Sans"; font-size: 14px; margin-bottom: 10px; margin-top: 0px;">
<li style="box-sizing: border-box;">The fall in home prices during the housing crisis left many homeowners in a negative equity situation <em style="box-sizing: border-box;">(where their home was worth less than the mortgage on the property).</em></li>
<li style="box-sizing: border-box;">The uncertainty of the economy made some homeowners much more fiscally conservative about making a move.</li>
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However, with home prices rising dramatically over the last several years, over 90% of homes with a mortgage are now in a positive equity situation with 70% of them having at least 20% equity.</div>
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And, with the economy coming back and wages starting to increase, many homeowners are in a much better financial situation than they were just a few short years ago.</div>
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<span style="box-sizing: border-box;">What does this mean for housing?</span></h4>
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Many believe that a large portion of homeowners are not in a house that is best for their current family circumstances. They could be baby boomers living in an empty, four-bedroom colonial, or a millennial couple planning to start a family that currently lives in a one-bedroom condo.</div>
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These homeowners are ready to make a move. Since the lack of housing inventory is a major challenge in the current housing market, this could be great news.</div>
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<h3 class="related_post_title" style="background-color: white; box-sizing: border-box; clear: both; color: #00aeff; font-family: "Roboto Slab", serif; font-size: 20px; line-height: 1.1; margin: 0px !important; padding: 0px !important; position: relative;">
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
<div style="box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; font-weight: normal; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important; text-align: center;">
<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: georgia, "times new roman", serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-73157544747420828072016-11-04T09:06:00.000-07:002016-11-04T09:06:31.330-07:00The Role Access Plays in Getting Your House SOLD!<div class="separator" style="clear: both; text-align: center;">
<a href="https://3.bp.blogspot.com/-By62Fgm-RGU/WBjArpwheVI/AAAAAAAABTA/dFd3TH_P1QQTTrbiQibii5TjVtPO-DVKgCLcB/s1600/20161006-Share-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://3.bp.blogspot.com/-By62Fgm-RGU/WBjArpwheVI/AAAAAAAABTA/dFd3TH_P1QQTTrbiQibii5TjVtPO-DVKgCLcB/s400/20161006-Share-STM.jpg" width="400" /></a></div>
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So you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process and they have asked you what level of access you want to provide to potential buyers.<span id="more-34290" style="box-sizing: border-box;"></span></div>
<div style="background-color: white; box-sizing: border-box; color: #6b6b6b; font-family: "Open Sans"; font-size: 14px; margin-bottom: 10px;">
There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing and Price. There are many levels of access that you could provide to your agent to be able to show your home.</div>
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<span style="box-sizing: border-box;">Here are five levels of access that you could give a buyer with a brief description:</span></h4>
<ol style="background-color: white; box-sizing: border-box; color: #6b6b6b; font-family: "Open Sans"; font-size: 14px; margin-bottom: 10px; margin-top: 0px;">
<li style="box-sizing: border-box;"><span style="box-sizing: border-box; font-weight: 700;">Lockbox On the Door</span> – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.</li>
<li style="box-sizing: border-box;"><span style="box-sizing: border-box; font-weight: 700;">Providing a Key to the Home</span> – although the buyer’s agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.</li>
<li style="box-sizing: border-box;"><span style="box-sizing: border-box; font-weight: 700;">Open Access with a Phone Call</span> – the seller allows showing with just a phone call’s notice.</li>
<li style="box-sizing: border-box;"><span style="box-sizing: border-box; font-weight: 700;">By Appointment Only (example: 48 Hour Notice)</span> – Many out-of-town/state buyers and relocation buyers visit an area they would like to move to and only have the weekend to view homes. They may not be able to plan that far in advance, or may be unable to wait the 48 hours to be shown the house.</li>
<li style="box-sizing: border-box;"><span style="box-sizing: border-box; font-weight: 700;">Limited Access</span> (<span style="box-sizing: border-box; font-weight: 700;">example: the home is only available on Mondays or Tuesdays at 2pm or for only a couple of hours a day)</span> - This is the most difficult way to be able to show your house to potential buyers.</li>
</ol>
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In a competitive marketplace, access can make or break your ability to get the price you are looking for, or even sell your house at all.</div>
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<i style="line-height: 32.4px;"><span style="font-family: "georgia" , "times new roman" , serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-72798657783927705032016-11-03T08:52:00.000-07:002016-11-03T08:52:52.444-07:00Why We All Need a 'Phil Dunphy' on Our Side<div class="separator" style="clear: both; text-align: center;">
<a href="https://4.bp.blogspot.com/-3OzHdmyJrt0/WBi_y1IKLTI/AAAAAAAABS0/vQNo8jMw6YALTldV-hRPcKqWjaUcXLdNACLcB/s1600/20160928-Share-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="174" src="https://4.bp.blogspot.com/-3OzHdmyJrt0/WBi_y1IKLTI/AAAAAAAABS0/vQNo8jMw6YALTldV-hRPcKqWjaUcXLdNACLcB/s320/20160928-Share-STM.jpg" width="320" /></a></div>
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Whether or not you’ve ever seen an episode of <a href="http://abc.go.com/shows/modern-family" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" target="_blank" title="Modern Family"><em style="box-sizing: border-box;">Modern Family</em></a><em style="box-sizing: border-box;">,</em> or know who <em style="box-sizing: border-box;">Phil Dunphy’s</em> character is, the concept of knowing that you have someone in your corner who is looking out for your best interests is something we all want.<span id="more-34230" style="box-sizing: border-box;"></span></div>
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When it comes to buying a home, whether you are a rookie homebuyer or have gone through the process many times, having a local real estate expert who is well versed in the neighborhood you are looking to move into, and the trends of the area, should be your goal.</div>
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For those who aren’t familiar, the character <em style="box-sizing: border-box;">Phil Dunph</em>y is a Realtor with a huge heart who always strives to do the best for his family and his clients.</div>
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In one recent episode, Phil even shared the oath that he created and holds himself to:</div>
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<em style="box-sizing: border-box;">"On my honor, I promise to aid in man's quest for shelter, to recognize I'm not just in the business of houses -- I'm in the business of dreams in the shape of houses. To disclose all illegal additions, shoddy construction, murders, and ghosts. And to put my clients' needs before my own."</em><em style="box-sizing: border-box;"> </em></div>
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While this might seem silly, and it was definitely written with humor in mind, the themes of helping someone achieve the American Dream and putting a client's needs above your own are not to be taken lightly.</div>
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<span style="box-sizing: border-box;">Bottom Line</span></h3>
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When you make the decision to enter the housing market, as either a buyer or a seller, make sure you look for an agent who exemplifies these values and will help you through every step of the process.</div>
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<i style="line-height: 32.4px;"><span style="font-family: "georgia" , "times new roman" , serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
<div style="background-color: white; box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important; text-align: center;">
<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: "georgia" , "times new roman" , serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-71668005809256151672016-11-02T07:10:00.000-07:002016-11-02T07:10:00.174-07:00Ready to Make an Offer? 4 Tips for Success<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-lGe3gMsG8eU/WBi-JTeh2BI/AAAAAAAABSo/MrE2FXX4yRQGSvOKK88Z78DYFUHTx805QCLcB/s1600/20160921-Share-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://1.bp.blogspot.com/-lGe3gMsG8eU/WBi-JTeh2BI/AAAAAAAABSo/MrE2FXX4yRQGSvOKK88Z78DYFUHTx805QCLcB/s400/20160921-Share-STM.jpg" width="400" /></a></div>
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So you’ve been searching for that perfect house to call a ‘home’ and you finally found one! The price is right, and in such a competitive market you want to make sure you make a good offer so that you can guarantee your dream of making this house yours comes true!<span id="more-34225" style="box-sizing: border-box;"></span></div>
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<em style="box-sizing: border-box;">Freddie Mac</em> covered <a href="http://www.freddiemac.com/news/blog/chris_bowden/20160906_four_tips_for_making_an_offer.html" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" target="_blank" title="“4 Tips for Making an Offer”">“<em style="box-sizing: border-box;">4 Tips for Making an Offer”</em></a> in their latest <em style="box-sizing: border-box;">Executive Perspective.</em> Here are the 4 Tips they covered along with some additional information for your consideration:</div>
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<span style="box-sizing: border-box;">1. Understand How Much You Can Afford</span></h4>
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<em style="box-sizing: border-box;">“While it's not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.”</em></div>
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This ‘tip’ or ‘step’ really should take place before you start your home search process.</div>
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As we’ve mentioned <a href="http://www.simplifyingthemarket.com/en/2016/09/13/why-getting-pre-approved-should-be-your-first-step/?a=282203-634c7c2aae8ad8781cde3eb5fdded63a" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" title="before">before</a>, getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a mortgage for that amount. You will also need to know if you are prepared to make any repairs that may need to be made to the house (ex: new roof, new furnace).</div>
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<span style="box-sizing: border-box;">2. Act Fast</span></h4>
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<em style="box-sizing: border-box;">“Even though there are fewer investors, the inventory of homes for sale is also low and competition for housing continues to heat up in many parts of the country.”</em></div>
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According to the latest <a href="http://www.realtor.org/" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" target="_blank" title="Existing Home Sales Report"><em style="box-sizing: border-box;">Existing Home Sales Report</em></a>, the inventory of homes for sale is currently at a 4.7-month supply. This is well below the 6-month supply that is needed for a <a href="http://www.simplifyingthemarket.com/en/2016/08/26/how-supply-demand-impacts-the-real-estate-market-infographic/?a=282203-634c7c2aae8ad8781cde3eb5fdded63a" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" title="‘normal’ market">‘normal’ market</a>. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for their dream home.</div>
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Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as soon as possible.</div>
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<span style="box-sizing: border-box;">3. Make a Solid Offer</span></h4>
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<em style="box-sizing: border-box;">Freddie Mac</em> offers this advice to help make your offer the strongest it can be:</div>
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<em style="box-sizing: border-box;">“Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.”</em><em style="box-sizing: border-box;"> </em></div>
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Consider ways of making your offer stand out! Many buyers write a <a href="http://www.freddiemac.com/blog/homeownership/20160517_dear_seller_pick_me.html" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" target="_blank" title="personal letter to the seller">personal letter to the seller</a>letting them know how much they would love to be the new homeowners. Your agent will be able to help you figure out if there are any other ways your offer could stand above the rest.</div>
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<span style="box-sizing: border-box;">4. Be Prepared to Negotiate</span></h4>
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<em style="box-sizing: border-box;">“It's likely that you'll get at least one counteroffer from the sellers so be prepared. The two things most likely to be negotiated are the selling price and closing date. Given that, you'll be glad you did your homework first to understand how much you can afford. </em><em style="box-sizing: border-box;"> </em></div>
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<em style="box-sizing: border-box;">Your agent will also be key in the negotiation process, giving you guidance on the counteroffer and making sure that the agreed-to contract terms are met.”</em></div>
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If your offer is approved, <em style="box-sizing: border-box;">Freddie Mac</em> urges you to <em style="box-sizing: border-box;">“always get an independent home inspection, so you know the true condition of the home. If the inspection uncovers undisclosed problems or issues, you can typically re-negotiate the terms or cancel the contract.”</em></div>
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<span style="box-sizing: border-box;">Bottom Line</span></h3>
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Whether buying your first home or your fifth, having a local real estate professional who is an expert in their market on your side is your best bet to make sure the process goes smoothly. Let’s get together and see if we can make your dreams of homeownership a reality!</div>
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
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<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: georgia, "times new roman", serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;">Feel free to Subscribe to "</span><span style="font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;"><a href="mailto:trease2@gmail.com" style="color: #919191; text-decoration: none;"><span style="color: #0b5394;"><b>Real Estate with Patrice</b></span></a></span><span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;"><b>"</b> Blog posts</span><span style="color: #25a0cf; font-family: arial; font-size: 15.4px; font-weight: bold; line-height: 32.4px;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-color: initial; border-style: initial; font-size: 12px; font-weight: normal; line-height: 20px; text-align: justify;"> </span></span><span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;">to stay up to date with our latest posts and information on the Real Estate Industry or you can Follow Us on</span><span style="color: blue; font-family: arial; font-size: 15.4px; line-height: 20px; text-align: justify;"><span style="font-size: xx-small;"> </span></span><span style="font-family: inherit; line-height: 32.4px;"><span style="color: blue; font-size: xx-small;"><span style="font-weight: bold;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-color: initial; border-style: initial; font-weight: normal; line-height: 20px; text-align: justify;"><a href="https://www.facebook.com/PatriceReMax/" style="color: #919191; text-decoration: none;" target="_blank">Facebook</a></span></span><span style="line-height: 20px; text-align: justify;"> </span><span style="line-height: 20px; text-align: justify;">, </span><a href="https://twitter.com/remaxpatrice" style="color: #919191; text-decoration: none;" target="_blank">Twitter</a><span style="line-height: 20px; text-align: justify;">,</span><span style="line-height: 20px; text-align: justify;"> <a href="https://www.blogger.com/Public%20Profilehttps://www.linkedin.com/in/patricemiller1" style="color: #919191; text-decoration: none;" target="_blank"><span style="font-family: inherit;">LinkedIn</span></a></span><span style="line-height: 20px; text-align: justify;"> & </span><a href="https://plus.google.com/u/0/101837117483317121048" style="color: #919191; text-decoration: none;" target="_blank">Google</a><a href="https://plus.google.com/u/0/101837117483317121048" style="color: #919191; text-decoration: none;" target="_blank">+</a><span style="line-height: 20px; text-align: justify;"> </span></span></span><span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;">for regular updates.</span></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-9552541456214051912016-11-01T08:48:00.000-07:002016-11-01T08:48:59.971-07:00Buying a Home? 4 Demands to Make on Your Real Estate Agent<div class="separator" style="clear: both; text-align: center;">
<a href="https://3.bp.blogspot.com/-shEyw33SUvo/WBi4VKqzcqI/AAAAAAAABSQ/fy84hEIdFaYbA_NF3uc_OuXDfknQIUGfACLcB/s1600/20161101-Share-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://3.bp.blogspot.com/-shEyw33SUvo/WBi4VKqzcqI/AAAAAAAABSQ/fy84hEIdFaYbA_NF3uc_OuXDfknQIUGfACLcB/s400/20161101-Share-STM.jpg" width="400" /></a></div>
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Are you thinking of buying a home? Are you dreading having to walk through strangers’ houses? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of buying. A great agent is always worth more than the commission they charge, just like a great doctor or great accountant.</div>
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You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish an average agent from a great one.</div>
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Here are the top 4 demands to make of your real estate agent when buying a home:</div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">1. Tell the Truth About the Price</span></h4>
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When making an offer on the home you want to buy, make sure that your agent walks you through their plan for getting both the seller – and the bank – to accept that price. Too many agents will just take the offer that you suggest and then try to ‘work’ both you and the seller in the negotiating phase later. In a competitive market, you need an agent who is going to help you make the best ‘initial offer’ so that you stand out from the crowd. Every house in today’s market must be sold twice – first to you and then to your bank.</div>
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The second sale may be more difficult than the first. When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the selling price when performing the appraisal for the bank. A red flag should be raised if your agent is not discussing this with you at the time of the original offer.</div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">2. Understand the Timetable with Which Your Family is Dealing</span></h4>
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You will be moving your family into a new home. Whether the move revolves around the start of the new school year or a new job, you will be trying to put the move to a plan.</div>
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This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. Your agent cannot pick the exact date of your move, but they should exert any influence they can to make it work.</div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">3. Remove as Many of the Challenges as Possible</span></h4>
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It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.</div>
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<em style="box-sizing: border-box; outline: none !important;">Remember: If you have an agent who was weak negotiating with you on parts of the purchase offer, don’t expect them to turn into a superhero when they are negotiating with the seller for you and your family.</em></div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">4. Find the Right HOUSE!</span></h4>
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There is a reason you are putting yourself and your family through the process of moving.</div>
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You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with buying. Do not allow your agent to forget these motivations. Make sure that they don’t worry about your feelings more than they worry about your family; if they discover something needs to be done in order to attain your goal, insist that they have the courage to inform you.</div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT!</span></h4>
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-78600479078641628152016-09-05T06:24:00.000-07:002016-09-05T06:24:07.289-07:00How Scary is the Housing Affordability Index?<div class="separator" style="clear: both; text-align: center;">
<a href="https://2.bp.blogspot.com/-s8iMuzvpZD0/V8RgNsei6tI/AAAAAAAABOU/s7LSE2eQu3kMzdTxEElzZdO_pGIhW3NxACLcB/s1600/Affordability-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="174" src="https://2.bp.blogspot.com/-s8iMuzvpZD0/V8RgNsei6tI/AAAAAAAABOU/s7LSE2eQu3kMzdTxEElzZdO_pGIhW3NxACLcB/s320/Affordability-STM.jpg" width="320" /></a></div>
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Some industry pundits are saying that the housing market may be heading for a slowdown. One of the data points they use is the falling numbers of the<a href="http://www.realtor.org/topics/housing-affordability-index" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" target="_blank" title="Housing Affordability Index">Housing Affordability Index</a>, as reported by the <em style="box-sizing: border-box;">National Association of Realtors</em>(NAR).<span id="more-34026" style="box-sizing: border-box;"></span></div>
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Here is how NAR defines the index:</div>
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<em style="box-sizing: border-box;">“The Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data.”</em></div>
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Basically, a value of 100 means a family earning the median income earns enough to qualify for a mortgage on a median priced home, based on the price and mortgage interest rates at the time. Anything above 100 means the family has more than enough to qualify.</div>
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<span style="box-sizing: border-box; font-weight: 700;"><em style="box-sizing: border-box;">The higher the index the easier it is to afford a home.</em></span></div>
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<span style="box-sizing: border-box;">Why the concern?</span></h4>
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The index has been declining over the last several years as home values increased. Some are concerned that too many buyers could be priced out of the market. Here is a snapshot of the index since 2009:</div>
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<a href="https://2.bp.blogspot.com/-LV5UQ2QIhGc/V8RgZ_aezAI/AAAAAAAABOY/DvHZff6M99wKr_mdEYbP0EfVJYBEQVGHQCEw/s1600/20160824-ENG-STM1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="300" src="https://2.bp.blogspot.com/-LV5UQ2QIhGc/V8RgZ_aezAI/AAAAAAAABOY/DvHZff6M99wKr_mdEYbP0EfVJYBEQVGHQCEw/s400/20160824-ENG-STM1.jpg" width="400" /></a></div>
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<span style="box-sizing: border-box;">But, wait a minute…</span></h4>
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Though the index has decreased over the last four years, we must realize that at that time there was an overabundance of housing inventory and as many as one out of three listings was a distressed property (foreclosure or short sale). All prices dropped dramatically and distressed properties sold at major discounts. Then, mortgage rates fell like a rock.</div>
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The market is recovering and values are coming back nicely. That has caused the index to fall.</div>
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However, let’s remove the crisis years and look at the current index as compared to the index from 1990 – 2008. We can see that, even though prices have increased, historically low mortgage rates have put the index in a better position than every year for the nineteen years prior to the crash.</div>
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<span style="box-sizing: border-box;">Bottom Line</span></h3>
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The Housing Affordability Index is in great shape and should not be seen as a challenge to the real estate market’s continued recovery.</div>
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
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<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: georgia, "times new roman", serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-29263439141750163732016-09-02T09:04:00.000-07:002016-09-02T09:04:04.262-07:00How Supply & Demand Impacts the Real Estate Market <div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-MRsxvBfgng0/V8RcvNV8uvI/AAAAAAAABN8/1DHfXedq4nwiMH9T0PV4J4J1INLznZgQgCLcB/s1600/201660826-STM-ENG-1046x1641.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="640" src="https://1.bp.blogspot.com/-MRsxvBfgng0/V8RcvNV8uvI/AAAAAAAABN8/1DHfXedq4nwiMH9T0PV4J4J1INLznZgQgCLcB/s640/201660826-STM-ENG-1046x1641.jpg" width="408" /></a></div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">Some Highlights:</span></h3>
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<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">The concept of Supply & Demand is a simple one. The best time to sell something is when supply of that item is low & demand for that item is high!</li>
<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Anything under a 6-month supply is a Seller’s Market!</li>
<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">There has not been a 6-months inventory supply since August 2012!</li>
<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Buyer Demand continues to outpace Seller Supply!</li>
</ul>
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;"><br /></span></i></div>
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
<div style="box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important; text-align: center;">
<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: georgia, "times new roman", serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<br /><div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-70521552416479168512016-09-01T08:52:00.000-07:002016-09-01T08:52:09.163-07:00Whether You Rent or Buy, You’re Paying a Mortgage<div class="separator" style="clear: both; text-align: center;">
<a href="https://2.bp.blogspot.com/-0umXRsPz7TI/V8RZcMkEwFI/AAAAAAAABNY/6iBfp73get4j-Se9f7i-_w7M_afL0xz4gCLcB/s1600/20160822-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="color: black;"><img border="0" height="217" src="https://2.bp.blogspot.com/-0umXRsPz7TI/V8RZcMkEwFI/AAAAAAAABNY/6iBfp73get4j-Se9f7i-_w7M_afL0xz4gCLcB/s400/20160822-STM.jpg" width="400" /></span></a></div>
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There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord’s.<span id="more-34011" style="box-sizing: border-box;"></span></div>
<div style="background-color: white; box-sizing: border-box; font-family: "Open Sans"; font-size: 14px; line-height: 23.8px; margin-bottom: 10px;">
As <em style="box-sizing: border-box;">The Joint Center for Housing Studies at Harvard University</em> <a href="http://www.jchs.harvard.edu/sites/jchs.harvard.edu/files/w13-1_belsky_0.pdf" style="background-color: transparent; box-sizing: border-box; text-decoration: none; transition: all 0.3s;" target="_blank" title="explains">explains</a>:</div>
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<div style="box-sizing: border-box; margin-bottom: 10px;">
<em style="box-sizing: border-box;">“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. </em></div>
<div style="box-sizing: border-box;">
<em style="box-sizing: border-box;">That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”</em></div>
</blockquote>
<div style="background-color: white; box-sizing: border-box; font-family: "Open Sans"; font-size: 14px; line-height: 23.8px; margin-bottom: 10px;">
Christina Boyle, a Senior Vice President, <em style="box-sizing: border-box;">Head of Single-Family Sales & Relationship Management</em> at <em style="box-sizing: border-box;">Freddie Mac,</em> explains another benefit of securing a mortgage vs. paying rent:</div>
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<div style="box-sizing: border-box;">
<em style="box-sizing: border-box;">“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”</em></div>
</blockquote>
<div style="background-color: white; box-sizing: border-box; font-family: "Open Sans"; font-size: 14px; line-height: 23.8px; margin-bottom: 10px;">
As an owner, your mortgage payment is a form of <em style="box-sizing: border-box;">‘forced savings’</em> which allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity.</div>
<div style="background-color: white; box-sizing: border-box; font-family: "Open Sans"; font-size: 14px; line-height: 23.8px; margin-bottom: 10px;">
Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. <a href="http://www.freddiemac.com/" style="background-color: transparent; box-sizing: border-box; text-decoration: none; transition: all 0.3s;" target="_blank" title="Freddie Mac’s"><em style="box-sizing: border-box;">Freddie Mac’s</em></a> latest report shows that rates across the country were 3.43% last week.</div>
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<span style="box-sizing: border-box;"><span style="color: #3d85c6;">Bottom Line</span></span></h3>
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Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.</div>
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<i style="line-height: 32.4px;"><span style="font-family: "georgia" , "times new roman" , serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
<div style="box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important; text-align: center;">
<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: "georgia" , "times new roman" , serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<span style="color: #484848; font-family: "arial"; font-size: 12px; line-height: 20px; text-align: justify;">Feel free to Subscribe to "</span><span style="color: #535353; font-family: "arial"; font-size: 12px; line-height: 20px; text-align: justify;"><a href="mailto:trease2@gmail.com" style="color: #919191; text-decoration: none;"><span style="color: #0b5394;"><b>Real Estate with Patrice</b></span></a></span><span style="color: #484848; font-family: "arial"; font-size: 12px; line-height: 20px; text-align: justify;"><b>"</b> Blog posts</span><span style="color: #25a0cf; font-family: "arial"; font-size: 15.4px; font-weight: bold; line-height: 32.4px;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-color: initial; border-style: initial; font-size: 12px; font-weight: normal; line-height: 20px; text-align: justify;"> </span></span><span style="color: #484848; font-family: "arial"; font-size: 12px; line-height: 20px; text-align: justify;">to stay up to date with our latest posts and information on the Real Estate Industry or you can Follow Us on</span><span style="color: blue; font-size: x-small;"><span style="font-family: "arial"; line-height: 20px; text-align: justify;"> </span><span style="font-family: inherit; line-height: 32.4px;"><span style="font-weight: bold;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-color: initial; border-style: initial; font-weight: normal; line-height: 20px; text-align: justify;"><a href="https://www.facebook.com/PatriceReMax/" style="text-decoration: none;" target="_blank">Facebook</a></span></span><span style="line-height: 20px; text-align: justify;"> </span><span style="line-height: 20px; text-align: justify;">, </span><a href="https://twitter.com/remaxpatrice" style="text-decoration: none;" target="_blank">Twitter</a><span style="line-height: 20px; text-align: justify;">,</span><span style="line-height: 20px; text-align: justify;"> <a href="https://www.blogger.com/Public%20Profilehttps://www.linkedin.com/in/patricemiller1" style="text-decoration: none;" target="_blank"><span style="font-family: inherit;">LinkedIn</span></a></span><span style="line-height: 20px; text-align: justify;"> & </span><a href="https://plus.google.com/u/0/101837117483317121048" style="text-decoration: none;" target="_blank">Google</a><a href="https://plus.google.com/u/0/101837117483317121048" style="text-decoration: none;" target="_blank">+</a><span style="line-height: 20px; text-align: justify;"> </span></span></span><span style="color: #484848; font-family: "arial"; font-size: 12px; line-height: 20px; text-align: justify;">for regular updates.</span></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-73763538041688230992016-08-31T08:45:00.000-07:002016-08-31T08:45:00.229-07:00‘Old Millennials’ Are Diving Head-First into Homeownership<div class="separator" style="clear: both; text-align: center;">
<a href="https://4.bp.blogspot.com/-4ek8-8HDXmw/V8RYRUntUhI/AAAAAAAABNI/w4dAADVdPSo1hLJmrBqH8RqXs1Gv9Rr0QCLcB/s1600/Old-Millennials-ENG-STM-726x1024.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="640" src="https://4.bp.blogspot.com/-4ek8-8HDXmw/V8RYRUntUhI/AAAAAAAABNI/w4dAADVdPSo1hLJmrBqH8RqXs1Gv9Rr0QCLcB/s640/Old-Millennials-ENG-STM-726x1024.jpg" width="451" /></a></div>
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<span style="box-sizing: border-box;">Some Highlights:</span></h3>
<ul style="background-color: white; box-sizing: border-box; font-family: "Open Sans"; font-size: 14px; line-height: 23.8px; margin-bottom: 10px; margin-top: 0px;">
<li style="box-sizing: border-box;">‘Old Millennials’ are defined as 25-36 year olds according to the US Census Bureau.</li>
<li style="box-sizing: border-box;">According to NAR’s latest <a href="http://www.realtor.org/reports/highlights-from-the-2015-profile-of-home-buyers-and-sellers" style="background-color: transparent; box-sizing: border-box; text-decoration: none; transition: all 0.3s;" target="_blank" title="Profile of Home Buyers &amp; Sellers">Profile of Home Buyers & Sellers</a>, the median age of all first-time home buyers is 31 years old.</li>
<li style="box-sizing: border-box;">More and more ‘Old Millennials’ are realizing that homeownership is within their reach now!</li>
</ul>
<br /><div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-39496866682460440882016-08-30T08:35:00.000-07:002016-08-30T08:35:03.877-07:004 Stats That PROVE This Is NOT 2005 All over Again<div class="separator" style="clear: both; text-align: center;">
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<a href="https://1.bp.blogspot.com/-G1olo306Teo/V8RVgq6agRI/AAAAAAAABM0/Qn1FNcMgx1M4wXP5bW4j8wxKjqjoqtTrACLcB/s1600/20160818-STM-Share.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://1.bp.blogspot.com/-G1olo306Teo/V8RVgq6agRI/AAAAAAAABM0/Qn1FNcMgx1M4wXP5bW4j8wxKjqjoqtTrACLcB/s400/20160818-STM-Share.jpg" width="400" /></a></div>
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Recent <a href="http://research.realtor.com/housing-bubble-potential/" style="background-color: transparent; box-sizing: border-box; text-decoration: none;" target="_blank" title="research">research</a> by realtor.com examined certain red flags that caused the housing crisis in 2005, and then compared them to today’s real estate market. Today, we want to concentrate on four of those red flags.<span id="more-33983" style="box-sizing: border-box;"></span></div>
<ol style="background-color: white; box-sizing: border-box; font-family: "Open Sans"; font-size: 14px; line-height: 23.8px; margin-bottom: 10px; margin-top: 0px;">
<li style="box-sizing: border-box;">Price to Rent Ratio</li>
<li style="box-sizing: border-box;">Price to Income Ratio</li>
<li style="box-sizing: border-box;">Mortgage Transactions</li>
<li style="box-sizing: border-box;">House Flipping</li>
</ol>
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All four categories were outside historical norms in 2005. Home prices were way above normal ratios when compared to both rents and incomes at the time.</div>
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They explained that mortgage transactions as a percentage of all home sales were also at a higher percentage:</div>
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<div style="box-sizing: border-box;">
<em style="box-sizing: border-box;">“Loose credit was one of the main culprits of the housing crisis. Mortgage lending expanded dramatically as unhealthy housing speculation reached its peak and was met by the highest level of credit availability as measured by the Mortgage Bankers Association. The index measures the overall mortgage credit condition by the share of home sales financed by mortgages. This metric does not capture credit quality, but it does set a view of the importance of financing in supporting the housing market.”</em></div>
</blockquote>
<div style="background-color: white; box-sizing: border-box; font-family: "Open Sans"; font-size: 14px; line-height: 23.8px; margin-bottom: 10px;">
House flipping was rampant in 2005. As realtor.com's research points out:</div>
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<em style="box-sizing: border-box;">“Heightened flipping activity is a clear indication of speculation in the real estate market. A property is considered as a speculative flip if the property is sold twice within 12 months and with positive profit. Flipping is a normal part of a healthy housing market. In an inflated housing market, expectations about short-term profit from pure price appreciation are very high; therefore, the level of flipping activity would show evidence of being heightened.”</em></div>
</blockquote>
<div style="background-color: white; box-sizing: border-box; font-family: "Open Sans"; font-size: 14px; line-height: 23.8px; margin-bottom: 10px;">
Here are the categories with percentages reflecting the unrealistic ratios & numbers of 2005 as compared to the current market. Remember, a negative percentage reflects a positive gain for the market.</div>
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<a href="https://4.bp.blogspot.com/-84_c0iybNxY/V8RV3Gb-eiI/AAAAAAAABM4/Y0PndzIPDdoQmftrEKSl6gvRjQfxPVFOACLcB/s1600/20160818-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="300" src="https://4.bp.blogspot.com/-84_c0iybNxY/V8RV3Gb-eiI/AAAAAAAABM4/Y0PndzIPDdoQmftrEKSl6gvRjQfxPVFOACLcB/s400/20160818-STM.jpg" width="400" /></a></div>
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<span style="box-sizing: border-box;">Bottom Line</span></h3>
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They say hindsight is 20/20… Today, experts are keeping a close watch on the potential red flags that went unnoticed in 2005.</div>
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
<div style="background-color: white; box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important; text-align: center;">
<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: georgia, "times new roman", serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-84782182406971182192016-08-29T08:21:00.000-07:002016-08-29T08:23:22.647-07:00Real Estate Values Today Compared to Pre-2008 Peak<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-_ShE647fhvg/V8RSJpyI5nI/AAAAAAAABMU/169pw3gSmJsq6tx60TJBM2rPGKZzyvYDQCLcB/s1600/Price-Since-Peak-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://1.bp.blogspot.com/-_ShE647fhvg/V8RSJpyI5nI/AAAAAAAABMU/169pw3gSmJsq6tx60TJBM2rPGKZzyvYDQCLcB/s400/Price-Since-Peak-STM.jpg" width="400" /></a></div>
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This housing market has many people talking about home values; where they are and where they are headed. It’s also interesting to look back and see how home prices compare to values prior to the housing crisis.</div>
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Every quarter, <em style="box-sizing: border-box;">Freddie Mac</em> releases their <a href="http://www.freddiemac.com/finance/house_price_index.html" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" target="_blank" title="House Price Index"><em style="box-sizing: border-box;">House Price Index</em></a><em style="box-sizing: border-box;">.</em> The index usually provides monthly home values for:</div>
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<li style="box-sizing: border-box;">the nation as a whole</li>
<li style="box-sizing: border-box;">each of the 50 states</li>
<li style="box-sizing: border-box;">367 metropolitan statistical areas</li>
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This quarter, the report also included a look at today’s home values as compared to Pre-2008 values. Here is a graphic that breaks down the numbers on a state-by-state basis:</div>
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<a href="https://4.bp.blogspot.com/-wsHAP7g8-n0/V8RSSfhnSsI/AAAAAAAABMY/WgK3KNzqDhc3c1UmnRWoXCCivMflGjKugCLcB/s1600/Price-Since-Peak-STM-1-1024x768.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="300" src="https://4.bp.blogspot.com/-wsHAP7g8-n0/V8RSSfhnSsI/AAAAAAAABMY/WgK3KNzqDhc3c1UmnRWoXCCivMflGjKugCLcB/s400/Price-Since-Peak-STM-1-1024x768.jpg" width="400" /></a></div>
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
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<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: georgia, "times new roman", serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-17852860488296793992016-08-26T06:00:00.000-07:002016-08-26T06:00:02.296-07:00Why You Should Hire a Real Estate Professional When Buying or Selling a Home!<div class="separator" style="clear: both; text-align: center;">
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<a href="https://1.bp.blogspot.com/-2qAFRrYkj7c/V7yQOVHo89I/AAAAAAAABLM/lhQEJICskTch5lHIviEOrqVD668sB-NZACLcB/s1600/20160802-STM-Share.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://1.bp.blogspot.com/-2qAFRrYkj7c/V7yQOVHo89I/AAAAAAAABLM/lhQEJICskTch5lHIviEOrqVD668sB-NZACLcB/s400/20160802-STM-Share.jpg" width="400" /></a></div>
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Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to go it on their own. In today’s market: you need an experienced professional!<span id="more-33903" style="box-sizing: border-box;"></span></div>
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<span style="box-sizing: border-box;">You Need an Expert Guide if You Are Traveling a Dangerous Path</span></h4>
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The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and ready for you to move in to can be tricky. An agent listens to your wants and needs, and can sift through the homes that do not fit within the parameters of your “dream home.”</div>
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A great agent will also have relationships with mortgage professionals and other experts that you will need in securing your dream home.<span style="box-sizing: border-box; font-weight: 700;"> </span></div>
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<span style="box-sizing: border-box;">You Need a Skilled Negotiator</span></h4>
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In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.</div>
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Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family?</div>
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<em style="box-sizing: border-box;">If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal.</em><span style="box-sizing: border-box; font-weight: 700;"> </span></div>
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<span style="box-sizing: border-box;">Bottom Line</span></h3>
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Famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.</div>
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<i style="line-height: 32.4px;"><span style="font-family: "georgia" , "times new roman" , serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
<div style="background-color: white; box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important; text-align: center;">
<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: "georgia" , "times new roman" , serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<span style="color: #484848; font-family: "arial"; font-size: 12px; line-height: 20px; text-align: justify;">Feel free to Subscribe to "</span><span style="color: #535353; font-family: "arial"; font-size: 12px; line-height: 20px; text-align: justify;"><a href="mailto:trease2@gmail.com" style="color: #919191; text-decoration: none;"><span style="color: #0b5394;"><b>Real Estate with Patrice</b></span></a></span><span style="color: #484848; font-family: "arial"; font-size: 12px; line-height: 20px; text-align: justify;"><b>"</b> Blog posts</span><span style="color: #25a0cf; font-family: "arial"; font-size: 15.4px; font-weight: bold; line-height: 32.4px;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-color: initial; border-style: initial; font-size: 12px; font-weight: normal; line-height: 20px; text-align: justify;"> </span></span><span style="color: #484848; font-family: "arial"; font-size: 12px; line-height: 20px; text-align: justify;">to stay up to date with our latest posts and information on the Real Estate Industry or you can Follow Us on</span><span style="font-size: x-small;"><span style="color: #535353; font-family: "arial"; line-height: 20px; text-align: justify;"><span style="color: blue;"> </span></span><span style="font-family: inherit; line-height: 32.4px;"><span style="color: blue;"><span style="font-weight: bold;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-color: initial; border-style: initial; font-weight: normal; line-height: 20px; text-align: justify;"><a href="https://www.facebook.com/PatriceReMax/" style="text-decoration: none;" target="_blank">Facebook</a></span></span><span style="line-height: 20px; text-align: justify;"> </span><span style="line-height: 20px; text-align: justify;">, </span><a href="https://twitter.com/remaxpatrice" style="text-decoration: none;" target="_blank">Twitter</a><span style="line-height: 20px; text-align: justify;">,</span><span style="line-height: 20px; text-align: justify;"> <a href="https://www.blogger.com/Public%20Profilehttps://www.linkedin.com/in/patricemiller1" style="text-decoration: none;" target="_blank"><span style="font-family: inherit;">LinkedIn</span></a></span><span style="line-height: 20px; text-align: justify;"> & </span><a href="https://plus.google.com/u/0/101837117483317121048" style="text-decoration: none;" target="_blank">Google</a><a href="https://plus.google.com/u/0/101837117483317121048" style="text-decoration: none;" target="_blank">+</a></span><span style="color: #535353; line-height: 20px; text-align: justify;"><span style="color: cyan;"> </span></span></span></span><span style="color: #484848; font-family: "arial"; font-size: 12px; line-height: 20px; text-align: justify;">for regular updates.</span></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-38684234855158491482016-08-25T06:00:00.000-07:002016-08-25T06:00:22.614-07:00What Does Home Mean to You?<div class="separator" style="clear: both; text-align: center;">
<a href="https://3.bp.blogspot.com/-VvOQegBk4w8/V7yOB_CvNHI/AAAAAAAABK4/MFh_g5UTOZgQjNhG2sBX5bnl5EbTuwXPQCLcB/s1600/unnamed%2B%25283%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://3.bp.blogspot.com/-VvOQegBk4w8/V7yOB_CvNHI/AAAAAAAABK4/MFh_g5UTOZgQjNhG2sBX5bnl5EbTuwXPQCLcB/s400/unnamed%2B%25283%2529.jpg" width="400" /></a></div>
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No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own home are, more often than not, the more powerful or compelling ones.<span id="more-33910" style="box-sizing: border-box;"></span></div>
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Every year, <em style="box-sizing: border-box;">The Joint Center for Housing Studies at Harvard University</em> conducts a survey to find driving factors behind why Americans decide to buy a home.</div>
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The top 4 reasons to own a home cited by participants of the survey were not financial.<span style="box-sizing: border-box; font-weight: 700;"> </span></div>
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<span style="box-sizing: border-box;">1. It means having a good place to raise children & provide them with a good education</span></h4>
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From the best neighborhoods to the best school districts, even those without children at the time of purchase may have this in the back of their mind as a major reason for choosing the location of the home that they purchase.</div>
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<span style="box-sizing: border-box;">2. You have a physical structure where you & your family feel safe</span></h4>
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It is no surprise that having a place to call home with the means for comfort and security is the number two reason.</div>
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<span style="box-sizing: border-box;">3. It allows you to have more space for your family</span></h4>
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Whether your family is expanding, or an older family member is moving in, having a home that fits your needs is a close third on the list.<span style="box-sizing: border-box; font-weight: 700;"> </span></div>
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<span style="box-sizing: border-box;">4. It gives you control over what you do with your living space, like renovations and updates</span></h4>
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Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit for your apartment building, or do you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?</div>
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The 5th reason on the list, is the #1 financial reason to buy a home as seen by respondents:</div>
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<span style="box-sizing: border-box;">5. Owning a home is a good way to build up wealth that can be passed along to my family</span></h4>
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Either way you are paying a mortgage. Why not lock in your housing expense now with an investment that will build equity that you can borrow against in the future?</div>
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<span style="box-sizing: border-box;">Bottom Line</span></h3>
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Whether you are a first time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.</div>
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
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<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: georgia, "times new roman", serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;">Feel free to Subscribe to "</span><span style="color: #535353; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;"><a href="mailto:trease2@gmail.com" style="color: #919191; text-decoration: none;"><span style="color: #0b5394;"><b>Real Estate with Patrice</b></span></a></span><span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;"><b>"</b> Blog posts</span><span style="color: #25a0cf; font-family: arial; font-size: 15.4px; font-weight: bold; line-height: 32.4px;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-color: initial; border-style: initial; font-size: 12px; font-weight: normal; line-height: 20px; text-align: justify;"> </span></span><span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;">to stay up to date with our latest posts and information on the Real Estate Industry or you can Follow Us on</span><span style="color: blue; font-size: x-small;"><span style="font-family: arial; line-height: 20px; text-align: justify;"> </span><span style="font-family: inherit; line-height: 32.4px;"><span style="font-weight: bold;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-color: initial; border-style: initial; font-weight: normal; line-height: 20px; text-align: justify;"><a href="https://www.facebook.com/PatriceReMax/" style="text-decoration: none;" target="_blank">Facebook</a></span></span><span style="line-height: 20px; text-align: justify;"> </span><span style="line-height: 20px; text-align: justify;">, </span><a href="https://twitter.com/remaxpatrice" style="text-decoration: none;" target="_blank">Twitter</a><span style="line-height: 20px; text-align: justify;">,</span><span style="line-height: 20px; text-align: justify;"> <a href="https://www.blogger.com/Public%20Profilehttps://www.linkedin.com/in/patricemiller1" style="text-decoration: none;" target="_blank"><span style="font-family: inherit;">LinkedIn</span></a></span><span style="line-height: 20px; text-align: justify;"> & </span><a href="https://plus.google.com/u/0/101837117483317121048" style="text-decoration: none;" target="_blank">Google</a><a href="https://plus.google.com/u/0/101837117483317121048" style="text-decoration: none;" target="_blank">+</a><span style="line-height: 20px; text-align: justify;"> </span></span></span><span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;">for regular updates.</span></div>
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<span style="font-family: arial; line-height: 20px; text-align: justify;"><a href="http://www.patricemiller.remax-detroit.com/" style="color: #919191; text-decoration: none;"><span style="color: blue;">Search for Homes</span></a></span></div>
<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-22127417306133911352016-08-24T06:00:00.000-07:002016-08-24T06:00:23.920-07:00Thinking of Selling Your House? Pick the Right Agent!<div class="separator" style="clear: both; text-align: center;">
<a href="https://4.bp.blogspot.com/-j3EaaSl8ydY/V7yKdpiLBOI/AAAAAAAABKs/RVfzIcaVFhcHmSx6qWyQuLTysScLTk3PACLcB/s1600/20160804-Share-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://4.bp.blogspot.com/-j3EaaSl8ydY/V7yKdpiLBOI/AAAAAAAABKs/RVfzIcaVFhcHmSx6qWyQuLTysScLTk3PACLcB/s400/20160804-Share-STM.jpg" width="400" /></a></div>
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Today, more and more sellers are stepping back, taking a look at the advice real estate professionals give them, and asking themselves whether they can trust that advice. And that is exactly what they should do.</div>
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The most important question you can ask when you are choosing a real estate agent is whether you feel you can trust them. You must know that they’re giving you great advice, and that they’re going to be able to help you accomplish your family’s goals. You must trust your listing agent enough to allow them to:</div>
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<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Handle the liquidation of possibly the largest asset your family has</li>
<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Help set the market value of that asset <em style="box-sizing: border-box; outline: none !important;">(get the price right)</em></li>
<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Set the timetable for the liquidation of that asset</li>
<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Set a fair fee for the services required to liquidate that asset</li>
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All four of these require a tremendous amount of trust. They’re going to sell your prized possession, set its value, set a time schedule as to when your family will be able to move, and determine the fee that you’re going to pay to get those three things accomplished.</div>
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You have to trust your agent enough to allow them to help you and your family reach your dreams.</div>
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Whether you’re a grandfather looking to move to Florida or to spend your later years with your grand kids, or a young person who wants to take that job in San Francisco but first has to get your house sold in Detroit, you need an agent you can trust to help you move on with what's important.</div>
<div style="background-color: white; box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important; text-align: center;">
<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
<div style="background-color: white; box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important; text-align: center;">
<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: georgia, "times new roman", serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;">Feel free to Subscribe to "</span><span style="color: #535353; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;"><a href="mailto:trease2@gmail.com" style="color: #919191; text-decoration: none;"><span style="color: #0b5394;"><b>Real Estate with Patrice</b></span></a></span><span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;"><b>"</b> Blog posts</span><span style="color: #25a0cf; font-family: arial; font-size: 15.4px; font-weight: bold; line-height: 32.4px;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-color: initial; border-style: initial; font-size: 12px; font-weight: normal; line-height: 20px; text-align: justify;"> </span></span><span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;">to stay up to date with our latest posts and information on the Real Estate Industry or you can Follow Us on</span><span style="color: #535353; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;"><span style="color: blue;"> </span></span><span style="font-family: inherit; line-height: 32.4px;"><span style="color: blue; font-size: x-small;"><span style="font-weight: bold;"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border-color: initial; border-style: initial; font-weight: normal; line-height: 20px; text-align: justify;"><a href="https://www.facebook.com/PatriceReMax/" style="text-decoration: none;" target="_blank">Facebook</a></span></span><span style="line-height: 20px; text-align: justify;"> </span><span style="line-height: 20px; text-align: justify;">, </span><a href="https://twitter.com/remaxpatrice" style="text-decoration: none;" target="_blank">Twitter</a><span style="line-height: 20px; text-align: justify;">,</span><span style="line-height: 20px; text-align: justify;"> <a href="https://www.blogger.com/Public%20Profilehttps://www.linkedin.com/in/patricemiller1" style="text-decoration: none;" target="_blank"><span style="font-family: inherit;">LinkedIn</span></a></span><span style="line-height: 20px; text-align: justify;"> & </span><a href="https://plus.google.com/u/0/101837117483317121048" style="text-decoration: none;" target="_blank">Google</a><a href="https://plus.google.com/u/0/101837117483317121048" style="text-decoration: none;" target="_blank">+</a><span style="line-height: 20px; text-align: justify;"> </span></span></span><span style="color: #484848; font-family: arial; font-size: 12px; line-height: 20px; text-align: justify;">for regular updates.</span></div>
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<span style="font-family: arial; line-height: 20px; text-align: justify;"><a href="http://www.patricemiller.remax-detroit.com/" style="color: #919191; text-decoration: none;"><span style="color: blue;">Search for Homes</span></a></span></div>
<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-49398602035666029782016-08-23T08:58:00.000-07:002016-08-23T08:58:15.317-07:00How Do Rising Prices Impact Your Home Equity?<div class="separator" style="clear: both; text-align: center;">
<a href="https://3.bp.blogspot.com/-6szpB_jHVwU/V7xxudRnNCI/AAAAAAAABKM/JYMdeh7MsAErsL6l8yo_azmKXCtKcFH8ACLcB/s1600/20160816-STM-Share.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://3.bp.blogspot.com/-6szpB_jHVwU/V7xxudRnNCI/AAAAAAAABKM/JYMdeh7MsAErsL6l8yo_azmKXCtKcFH8ACLcB/s400/20160816-STM-Share.jpg" width="400" /></a></div>
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Yesterday, we shared the <a href="http://www.mykcm.com/2016/08/15/where-are-home-prices-headed-over-the-next-5-years/" style="background-color: transparent; box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration: none; transition: color 0.3s ease, background-color 0.3s ease, border-color 0.3s ease, box-shadow 0.3s ease, opacity 0.3s ease;">results</a> of the latest <em style="box-sizing: border-box; outline: none !important;">Home Price Expectation Survey</em> by <em style="box-sizing: border-box; outline: none !important;">Pulsenomics</em>. One of the big takeaways from the survey is that over the next five years, home prices will appreciate 3.5% per year on average, and cumulatively will grow by around 18%.</div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">So what does this mean for homeowners and their equity position?</span></h4>
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For example, let’s assume a young couple purchased and closed on a $250,000 home in January of this year. If we only look at the projected increase in the price of that home, how much equity would they earn over the next 5 years?</div>
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Since the experts predict that home prices will increase by 4.5% this year alone, the young homeowners will have gained over $11,000 in equity in just one year.</div>
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Over a five-year period, their equity will increase by over $46,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.</div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">Bottom Line</span></h3>
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Not only is home ownership something to be proud of, it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, let's meet up to find out if you are able to today!</div>
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
<div style="background-color: white; box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important; text-align: center;">
<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: georgia, "times new roman", serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-13024568458629752102016-08-22T09:14:00.000-07:002016-08-22T09:14:08.797-07:00Where Are Home Prices Headed Over the Next 5 Years?<div class="separator" style="clear: both; text-align: center;">
<a href="https://4.bp.blogspot.com/-vDXJV5hIfWk/V7sj0WGDcmI/AAAAAAAABJg/UWQ4WgIcwsAOV3nR2Q_TPIZgC0FduVnaQCLcB/s1600/81516.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://4.bp.blogspot.com/-vDXJV5hIfWk/V7sj0WGDcmI/AAAAAAAABJg/UWQ4WgIcwsAOV3nR2Q_TPIZgC0FduVnaQCLcB/s400/81516.jpg" width="400" /></a></div>
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Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the <a href="https://pulsenomics.com/Q3_2016_HPE_Survey.php" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;"><em style="box-sizing: border-box;">Home Price Expectation Survey</em></a>.</div>
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Every quarter, <em style="box-sizing: border-box;">Pulsenomics</em> surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.</div>
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<span style="box-sizing: border-box;">The results of their latest survey:</span></h4>
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Home values will appreciate by 4.5% over the course of 2016, 3.6% in 2017 and about 3.2% in the next two years, and finally 2.9% in 2020 (as shown below). That means the average annual appreciation will be 3.5% over the next 5 years.</div>
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<a href="https://2.bp.blogspot.com/-Mdik9cSAgwA/V7sj-D-a6kI/AAAAAAAABJk/dvmWNgljPn4z8fbsDlFNnzBvKMzndC4bwCLcB/s1600/815162.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="300" src="https://2.bp.blogspot.com/-Mdik9cSAgwA/V7sj-D-a6kI/AAAAAAAABJk/dvmWNgljPn4z8fbsDlFNnzBvKMzndC4bwCLcB/s400/815162.jpg" width="400" /></a></div>
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<span style="line-height: 23.8px;">The prediction for cumulative appreciation increased over a full point from 17.5% to 18.7% by 2020. The experts making up the most bearish quartile of the survey are still projecting a cumulative appreciation of 11.1%.</span></div>
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<a href="https://1.bp.blogspot.com/-WMptCrdXZgQ/V7skIVJNA0I/AAAAAAAABJo/FBKssq31Dlg4E_N95exnE_yDs72l5A_EgCLcB/s1600/815163.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://1.bp.blogspot.com/-WMptCrdXZgQ/V7skIVJNA0I/AAAAAAAABJo/FBKssq31Dlg4E_N95exnE_yDs72l5A_EgCLcB/s320/815163.jpg" width="320" /></a></div>
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<span style="box-sizing: border-box;">Bottom Line</span></h3>
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Individual opinions make headlines. We believe the survey is a fairer depiction of future values.</div>
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<i style="line-height: 32.4px;"><span style="font-family: georgia, "times new roman", serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
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<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: georgia, "times new roman", serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-36017899670491257312016-08-09T11:27:00.000-07:002016-08-09T11:27:00.136-07:00Saving to Buy a Home? Do You Know the Difference Between Cost & Price?<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-70MHxNBPuYY/V4PjdbmrorI/AAAAAAAABDc/_qa8pr7FK20M8ot7UMQHoxWgYgIYoDBFwCLcB/s1600/20160711-Share-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="348" src="https://1.bp.blogspot.com/-70MHxNBPuYY/V4PjdbmrorI/AAAAAAAABDc/_qa8pr7FK20M8ot7UMQHoxWgYgIYoDBFwCLcB/s640/20160711-Share-STM.jpg" width="640" /></a></div>
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As a seller, you will be most concerned with the ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not with price but instead with the ‘long term cost’ of the home.</div>
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Many economists have pointed to Brexit (Britain’s exit from the European Union) as a reason that interest rates will remain low for the next few months. But <em style="box-sizing: border-box; outline: none !important;">Trulia’s Chief Economist</em> Ralph McLaughlin warns that this will not always be the case in a <a href="http://www.trulia.com/blog/trends/brexit-ushousing/#sthash.w7vIsrmL.dpuf" style="background-color: transparent; box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration: none; transition: color 0.3s ease, background-color 0.3s ease, border-color 0.3s ease, box-shadow 0.3s ease, opacity 0.3s ease;">recent post</a>:</div>
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<em style="box-sizing: border-box; outline: none !important;">“While the departure of the UK from the European Union has driven down the 10-year bond, and thus mortgage rates, we expect them to rebound later in the year as uncertainty over the economic consequences of the departure lifts.”</em></div>
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The <em style="box-sizing: border-box; outline: none !important;">Mortgage Bankers Association (MBA)</em>, the <em style="box-sizing: border-box; outline: none !important;">National Association of Realtors (NAR)</em> and <em style="box-sizing: border-box; outline: none !important;">Freddie Mac</em> all project that mortgage interest rates will increase by <span style="box-sizing: border-box; font-weight: 700; outline: none !important;">close to a full percentage point over the next twelve months.</span></div>
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According to <em style="box-sizing: border-box; outline: none !important;">CoreLogic’s</em> most recent <a href="http://www.corelogic.com/about-us/researchtrends/corelogic-home-price-insights.aspx" style="background-color: transparent; box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration: none; transition: color 0.3s ease, background-color 0.3s ease, border-color 0.3s ease, box-shadow 0.3s ease, opacity 0.3s ease;"><em style="box-sizing: border-box; outline: none !important;">Home Price Index Report</em></a>, home prices will appreciate by 5.3% over the next 12 months.</div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">What Does This Mean as a Buyer?</span></h4>
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Here is a simple demonstration of what impact an interest rate increase would have on the mortgage payment of a home selling for approximately $250,000 today if home prices appreciate by the 5.3% predicted by <em style="box-sizing: border-box; outline: none !important;">CoreLogic</em> <span style="box-sizing: border-box; font-weight: 700; outline: none !important;">over the next twelve months:</span></div>
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<a href="https://2.bp.blogspot.com/-npA7JhRo_98/V4PjtxczxdI/AAAAAAAABDg/8Lo8ffammGozm1UPmOz777Muk0gDhA50wCLcB/s1600/20160711-STM-ENG.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="352" src="https://2.bp.blogspot.com/-npA7JhRo_98/V4PjtxczxdI/AAAAAAAABDg/8Lo8ffammGozm1UPmOz777Muk0gDhA50wCLcB/s640/20160711-STM-ENG.jpg" width="640" /></a></div>
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<i style="line-height: 32.4px;"><span style="font-family: "georgia" , "times new roman" , serif;">I believe everyone should feel confident when buying or selling a home.</span></i></div>
<div style="background-color: white; box-sizing: border-box; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important; text-align: center;">
<i style="font-size: 15.4px; line-height: 32.4px; text-align: justify;"><span style="line-height: 21.56px; text-align: center;"><span style="font-family: "georgia" , "times new roman" , serif;">You Can Always Reach Me @ 313 999-8900</span></span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-19616684974333313492016-08-08T06:33:00.000-07:002016-08-08T06:33:01.813-07:00BREXIT: What’s the FIXIT for U.S. Home Buyers and Sellers?<div class="separator" style="clear: both; text-align: center;">
<a href="https://2.bp.blogspot.com/-AedoFU2My7k/V3QQl9zyjEI/AAAAAAAABBg/ZnCPNkh28hU9tPfF6cJrnk7GzTrXUSLQQCLcB/s1600/Brexit-STM2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="218" src="https://2.bp.blogspot.com/-AedoFU2My7k/V3QQl9zyjEI/AAAAAAAABBg/ZnCPNkh28hU9tPfF6cJrnk7GzTrXUSLQQCLcB/s400/Brexit-STM2.jpg" width="400" /></a></div>
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Now that much of the dust has settled and the panic has waned, let’s take a look at what impact Britain’s exit from the European Union may have on the U.S. housing market.<span id="more-33711" style="box-sizing: border-box;"></span></div>
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The most immediate impact of Brexit will be on mortgage interest rates. Interest rates have remained at historic lows for the last several years. Contrary to what many experts believed, rates have remained low throughout the first half of 2016.</div>
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<span style="box-sizing: border-box;"><em style="box-sizing: border-box;">Possible impact of Brexit on mortgage rates?</em></span></h4>
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In a recent <a href="https://www.washingtonpost.com/news/wonk/wp/2016/06/22/three-ways-the-big-vote-over-brexit-could-affect-americans-personally/" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;">article</a>, the Washington Post explained:</div>
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<em style="box-sizing: border-box;">“Brexit has spawned the recent bout of volatility in global financial markets. That has anxious investors scurrying for safety -- and few assets are safer than U.S. Treasuries. High demand for government debt pulls down interest rates.</em></div>
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<em style="box-sizing: border-box;">That all translates into ultra-low mortgage rates for American households. And with Britain voting for Brexit, they could go even lower.”</em></div>
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However, the lower rates caused by Brexit may be short lived as <em style="box-sizing: border-box;">Trulia</em> Chief Economist Ralph McLaughlin pointed out in a recent <a href="http://www.trulia.com/blog/trends/brexit-ushousing/#sthash.w7vIsrmL.dpuf" style="background-color: transparent; box-sizing: border-box; color: #00aeff; text-decoration: none; transition: all 0.3s;" target="_blank">post</a>:</div>
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<em style="box-sizing: border-box;">“While the departure of the UK from the European Union has driven down the 10-year bond, and thus mortgage rates, we expect them to rebound later in the year as uncertainty over the economic consequences of the departure lifts.”</em></div>
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<span style="box-sizing: border-box;">Bottom Line</span></h3>
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Rates are already at historic lows. The UK’s exit from the EU almost certainly guarantees they will remain low (and possibly go lower) over the next few months. If you were thinking of buying your first home or trading up to the house of your dreams, this may be the time to act. The cost of money may never be better for a potential buyer.</div>
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<span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"><b><i>You Can Always Reach Me @ 313 999-8900</i></b></span></div>
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<b style="line-height: 32.4px;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"><span style="background-color: #f9f9f9; font-style: italic; letter-spacing: 1px; line-height: 31.2px; text-align: center;">I believe every </span><span style="background-color: #f9f9f9; box-sizing: border-box; font-style: italic; letter-spacing: 1px; line-height: 31.2px; outline: none !important; text-align: center;">one</span><span style="background-color: #f9f9f9; font-style: italic; letter-spacing: 1px; line-height: 31.2px; text-align: center;"> should feel </span><span style="background-color: #f9f9f9; box-sizing: border-box; font-style: italic; letter-spacing: 1px; line-height: 31.2px; outline: none !important; text-align: center;">confident</span><span style="background-color: #f9f9f9; font-style: italic; letter-spacing: 1px; line-height: 31.2px; text-align: center;"> when buying and selling a </span><span style="background-color: #f9f9f9; box-sizing: border-box; font-style: italic; letter-spacing: 1px; line-height: 31.2px; outline: none !important; text-align: center;">home</span><span style="background-color: #f9f9f9; font-style: italic; letter-spacing: 1px; line-height: 31.2px; text-align: center;">.</span></span></b></div>
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<b style="line-height: 21.56px;">Patrice M Miller</b></div>
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<b>Realtor/Associate Broker</b></div>
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<span style="font-family: inherit; line-height: 21.56px;"><b>ReMax Innovation</b></span></div>
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<b style="line-height: 21.56px;">313 999-8900 Cell</b></div>
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<b style="line-height: 21.56px;"> <a href="http://www.patricemiller.remax-detroit.com/">Search for Homes</a></b></div>
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<i style="font-size: 15.4px; line-height: 21.56px;"><span style="font-family: "pt sans caption"; font-size: 15.4px; line-height: 21.56px;"><b><span style="font-family: "georgia" , "times new roman" , serif;">If you like my blog posts, it would mean the world to me if you </span></b></span><b style="font-family: "pt sans caption"; font-size: 15.4px; line-height: 21.56px;"><span style="font-family: "georgia" , "times new roman" , serif;">shared it with your friends.</span></b><span style="font-family: inherit; font-size: 15.4px; line-height: 32.4px;"> </span></i></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0United States42.005515384533112 -84.0204334259033218.093239884533112 -125.32902742590332 65.9177908845331 -42.711839425903321tag:blogger.com,1999:blog-2663886737393028831.post-30015675978439301832016-08-07T10:00:00.000-07:002016-08-07T10:00:26.074-07:00Home Sales Accelerate During The “Dog Days of Summer” <div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-e3fk4u_A4YM/V5-zkdthnHI/AAAAAAAABIU/gxjc8ceGZ9MwtGyooburw04UszOOACuzACLcB/s1600/unnamed%2B%25282%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="400" src="https://1.bp.blogspot.com/-e3fk4u_A4YM/V5-zkdthnHI/AAAAAAAABIU/gxjc8ceGZ9MwtGyooburw04UszOOACuzACLcB/s400/unnamed%2B%25282%2529.jpg" width="308" /></a></div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">Some Highlights:</span></h3>
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<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Existing home sales have accelerated to the highest pace since February 2007 at an annual pace of 5.57 million.</li>
<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Inventory of homes for sale remains below the historically normal 6-month mark at a 4.6-month supply, down 5.8% year-over-year.</li>
<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Median home sales prices rose to $247,700, 4.8% higher than a year ago and replaced the previous peak in May of $238,900.</li>
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<i style="font-family: Calibri, sans-serif; line-height: 32.4px;">I believe everyone should feel confident when buying or selling a home.</i></div>
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<span style="font-family: "calibri" , sans-serif;"><i>You Can Always Reach Me @ 313 999-8900</i><span style="font-size: 10pt;"><o:p></o:p></span></span></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-50513950956338442016-08-05T13:15:00.000-07:002016-08-05T13:15:08.785-07:00Americans Believe Real Estate is Best Long-Term Investment<div class="separator" style="clear: both; text-align: center;">
<a href="https://2.bp.blogspot.com/-Msd-X3z5te0/V5-tUFGlcBI/AAAAAAAABHw/xNdkkZYF5sQq4YJQ0PEPT8vMbHe5IAzkACLcB/s1600/unnamed%2B%25281%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://2.bp.blogspot.com/-Msd-X3z5te0/V5-tUFGlcBI/AAAAAAAABHw/xNdkkZYF5sQq4YJQ0PEPT8vMbHe5IAzkACLcB/s400/unnamed%2B%25281%2529.jpg" width="400" /></a></div>
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According to <em style="box-sizing: border-box; outline: none !important;">Bankrate’s</em> latest <a href="http://www.bankrate.com/finance/consumer-index/financial-security-charts-0716.aspx" style="background-color: transparent; box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration: none; transition: color 0.3s ease, background-color 0.3s ease, border-color 0.3s ease, box-shadow 0.3s ease, opacity 0.3s ease;"><em style="box-sizing: border-box; outline: none !important;">Financial Security Index Poll</em></a>, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.</div>
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<em style="box-sizing: border-box; outline: none !important;">Bankrate</em> asked Americans to answer the following question:</div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;"><em style="box-sizing: border-box; outline: none !important;">“Which would be the best way to invest money you did not need for more than 10 years?”</em></span></h4>
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Real Estate came in as the top choice with 25% of all respondents, while cash investments (such as savings accounts and CD’s) came in second with 23%. The chart below shows the full results:</div>
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<a href="https://3.bp.blogspot.com/-Hi3s2pdw1_E/V5-tiRX9baI/AAAAAAAABH0/Xcji25euAf4AvMv_tQ6B-ZLbI2hxRRY1ACLcB/s1600/20160727-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="300" src="https://3.bp.blogspot.com/-Hi3s2pdw1_E/V5-tiRX9baI/AAAAAAAABH0/Xcji25euAf4AvMv_tQ6B-ZLbI2hxRRY1ACLcB/s400/20160727-STM.jpg" width="400" /></a></div>
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terling White, co-founder of Holdfolio, gave one reason as to why real estate may have ranked so high.</div>
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<em style="box-sizing: border-box; outline: none !important;">"Houses are tangible. You can physically see and feel the product. So you know where your money is going."</em></div>
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July’s poll also <a href="http://www.dsnews.com/news/07-20-2016/real-estate-is-becoming-the-prefered-long-term-investment" style="background-color: transparent; box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration: none; transition: color 0.3s ease, background-color 0.3s ease, border-color 0.3s ease, box-shadow 0.3s ease, opacity 0.3s ease;">found</a> that for the <em style="box-sizing: border-box; outline: none !important;">“26th consecutive month, Americans’ sense of financial well-being improved when taking into account debt, savings, net worth, job security, and overall financial situation.”</em></div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">Bottom Line</span></h3>
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There are several reasons, both financial and non-financial, as to why home ownership makes sense. It is nice to see that Americans have returned to a belief in home ownership as the best investment.</div>
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<div style="margin: 0in 0in 0.0001pt; text-align: center;">
<i style="font-family: Calibri, sans-serif; line-height: 32.4px;">I believe everyone should feel confident when buying or selling a home.</i></div>
<div style="margin: 0in 0in 0.0001pt; text-align: center;">
<span style="font-family: "calibri" , sans-serif;"><i>You Can Always Reach Me @ 313 999-8900</i><span style="font-size: 10pt;"><o:p></o:p></span></span></div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-35012703940294264582016-08-04T10:00:00.000-07:002016-08-04T10:00:20.232-07:00Home Sales Accelerate During The “Dog Days of Summer” <div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-e3fk4u_A4YM/V5-zkdthnHI/AAAAAAAABIU/gxjc8ceGZ9MwtGyooburw04UszOOACuzACLcB/s1600/unnamed%2B%25282%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="400" src="https://1.bp.blogspot.com/-e3fk4u_A4YM/V5-zkdthnHI/AAAAAAAABIU/gxjc8ceGZ9MwtGyooburw04UszOOACuzACLcB/s400/unnamed%2B%25282%2529.jpg" width="308" /></a></div>
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<h3 style="background-color: white; box-sizing: border-box; color: #00aeff; font-family: "Open Sans", sans-serif; font-size: 41.13px; font-weight: 300; letter-spacing: -0.035em; line-height: 1.3; margin: 1.25em 0px 0.2em; outline: none !important; text-rendering: optimizeLegibility;">
<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">Some Highlights:</span></h3>
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<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Existing home sales have accelerated to the highest pace since February 2007 at an annual pace of 5.57 million.</li>
<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Inventory of homes for sale remains below the historically normal 6-month mark at a 4.6-month supply, down 5.8% year-over-year.</li>
<li style="box-sizing: border-box; line-height: 1.8; outline: none !important;">Median home sales prices rose to $247,700, 4.8% higher than a year ago and replaced the previous peak in May of $238,900.</li>
</ul>
<div style="background-color: white; box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important;">
<div style="margin: 0in 0in 0.0001pt; text-align: center;">
<i style="font-family: Calibri, sans-serif; line-height: 32.4px;">I believe everyone should feel confident when buying or selling a home.</i></div>
<div style="margin: 0in 0in 0.0001pt; text-align: center;">
<span style="font-family: "calibri" , sans-serif;"><i>You Can Always Reach Me @ 313 999-8900</i><span style="font-size: 10pt;"><o:p></o:p></span></span></div>
</div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0tag:blogger.com,1999:blog-2663886737393028831.post-38903981889627485412016-08-03T16:29:00.000-07:002016-08-03T16:29:01.561-07:00 House Hasn’t Sold Yet? Take Another Look at Your Price!<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-Ahkf-tlEkMc/V5-ws0x7SQI/AAAAAAAABIA/6RsGaPk87Sc_27nIkoLjZBZT7j_11rD2QCLcB/s1600/20160802-Share-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="217" src="https://1.bp.blogspot.com/-Ahkf-tlEkMc/V5-ws0x7SQI/AAAAAAAABIA/6RsGaPk87Sc_27nIkoLjZBZT7j_11rD2QCLcB/s400/20160802-Share-STM.jpg" width="400" /></a></div>
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The residential housing market has been hot. Home sales have bounced back solidly and are now at their <a href="http://www.realtor.org/news-releases/2016/07/existing-home-sales-ascend-again-in-june-first-time-buyers-provide-spark" style="background-color: transparent; box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration: none; transition: color 0.3s ease, background-color 0.3s ease, border-color 0.3s ease, box-shadow 0.3s ease, opacity 0.3s ease;">second highest pace</a> since February 2007. Demand has remained strong throughout the summer as many real estate professionals are reporting <a href="http://www.mykcm.com/2016/07/26/the-top-reason-to-list-your-house-for-sale-now/" style="background-color: transparent; box-sizing: border-box; color: #00aeff; outline: none !important; text-decoration: none; transition: color 0.3s ease, background-color 0.3s ease, border-color 0.3s ease, box-shadow 0.3s ease, opacity 0.3s ease;">bidding wars</a> with listings actually selling above listing price. What about your house?</div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">If your house hasn’t sold, it is probably because of the price.</span></h4>
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If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. <em style="box-sizing: border-box; outline: none !important;">See chart below.</em></div>
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<a href="https://3.bp.blogspot.com/-KT_kY85jK-8/V5-w4MCKdmI/AAAAAAAABIE/TkdaZ6X0X3QdqGqqU39mRvnya31lRqiyQCLcB/s1600/20160802-ENG-STM.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="300" src="https://3.bp.blogspot.com/-KT_kY85jK-8/V5-w4MCKdmI/AAAAAAAABIE/TkdaZ6X0X3QdqGqqU39mRvnya31lRqiyQCLcB/s400/20160802-ENG-STM.jpg" width="400" /></a></div>
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<span style="box-sizing: border-box; font-weight: 700; outline: none !important;">Bottom Line</span></h3>
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The housing market is hot. If you are not seeing results you want, sit down with your agent and revisit the pricing conversation.</div>
<div style="background-color: white; box-sizing: border-box; color: #535353; font-family: "PT Sans Caption"; font-size: 15.4px; line-height: 32.4px; margin-bottom: 1.5em; outline: none !important;">
<div style="margin: 0in 0in 0.0001pt; text-align: center;">
<i style="font-family: Calibri, sans-serif; line-height: 32.4px;">I believe everyone should feel confident when buying or selling a home.</i></div>
<div style="margin: 0in 0in 0.0001pt; text-align: center;">
<span style="font-family: "calibri" , sans-serif;"><i>You Can Always Reach Me @ 313 999-8900</i><span style="font-size: 10pt;"><o:p></o:p></span></span></div>
</div>
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<div class="blogger-post-footer">If you like my blog posts, it would mean the world to me if you shared it with your friends. </div>Anonymoushttp://www.blogger.com/profile/01193368984380215582noreply@blogger.com0