short sales: The ABC's of Buying and Selling Short Sales in West Michigan...
- 07/11/11 01:20 PM
Sifting through the facts... Purchasing a new home is one of the most exciting experiences an individual or family can have. If you’ve been out of the real estate market for some time, you may be unaware of some dramatic changes in the real estate market landscape. In today’s market, there are some unique situations which home buyers should be aware of as they prepare to consider the purchase of a new home. GOOD NEW FIRST… The good news is that home buyers in the Grand Rapids, Michigan area will find that they have a bountiful number of choices for … (20 comments)
short sales: Repeat: Second Round Real Estate ~ Survival Tips for Landing On Your Feet When A Transaction Goes Bust.
- 10/21/10 06:06 AM
This post re-surfaced as I browsed my blog today. I'm struck by how timely this advise is to me today even though I first wrote the post 2 years ago. Yesterday, we celebrated the closing of a Short Sale transaction that began a year ago, almost to the date. The process included forestalling a foreclosure proceeding and repelling an attempt to prematurely condemn the property to abandonment by an overly zealous loss/mitigation team. Reading this post today reminds me that this counsel still holds true...perhaps, even more so today. *****************
"Time and chance happen to all of us" "I'm sorry, … (5 comments)
short sales: The One Week Short Sale Miracle on Brookmeadow...
- 08/17/10 04:21 PM
The View from the House on Brookmeadow... The idea started to percolate after reading the article. A small write-up about a local real estate agent caught her eye. She had toyed with the idea of putting the house up for sale before, but this time the process proceeded rapidly. Signs, pictures, internet promotions and potential buyers all appeared in rapid succession. As November blustered its' way into December, the cold chill of winter finally yielded to the unrelenting sunshine of spring. But, it seemed that inside, an eternal winter had settled in for the long haul. Potential buyers remained skittish about … (20 comments)
short sales: Underwater & Sinking Fast...The Myth Behind The Reality of Strategic Defaults!
- 05/10/10 06:49 AM
The year was 2005. The call was from a struggling homeowner who needed to sell their home. However, there was one significant barrier. They had mortgaged their property for more than they could sell it for. Hard luck had resulted in a job loss and they were faced with the stark prospect of making a difficult decision. The term 'short sale' was not a term that most people were aware of in our area at the time. The negotiation with two banks took several months, but the process finally concluded with a resolution that enabled the home to be conveyed to … (61 comments)
April 30 is quickly approaching The homebuyer tax credits have been pivotal in helping move inventory. At this time, it appears that the government will not offer another extension. Any first-time or move-up buyer who … (56 comments)
short sales: How to Get the Most Benefit From Your CMA (Comparative Market Analysis) During a Short Sale Negotiation
- 03/04/10 04:18 AM
I'd like to start our discussion today on a positive note! A lot of positive things are happening in the real estate market in Grand Rapids, Mi. If you're a homeowner, you should be know that 2010 has started off in a good way. There has been a 13.4% increase in overall homes sales so far (from 759 in the same period in 2009 to 861 today- January figures) and the average Sales Price is trending significantly higher...TODAY at $106,409 vs $95, 182 - January stats. These numbers trend even better for February with average Sales price of $111,457. If … (31 comments)
short sales: Short Sale Parking...Are We Racing Towards the Tip of an Iceberg?
- 01/30/10 12:30 PM
Over the past year, I've heard variations of this scenario in the negotiation of Short Sale transactions. I call it Short Sale Parking. For all intents and purposes, the home for sale looks like a regular listing. An unsuspecting buyer contacts a real estate agent to write up a purchase agreement for what seems like a normal transaction. When the counter-offer is returned from the listing agent, it contains a strange phrase informing the selling agent that the listing agent is actually the owner of the property by a vehicle known as the purchase agreement'. Up to this point I … (59 comments)
short sales: Reconciling the Mumbo Jumbo...How Do the Headlines Relate to My Neighborhood Re-Sale Value?
- 12/14/09 05:16 AM
It is not yet noon this Monday morning (12/14/2009). Yet, I have already had several conversations with clients who are disconcerted. On the one hand, they have heard that the market is improving, but the news about their specific home in their specific Grand Rapids, Michigan neighborhood seems to paint a different picture. This information seems at odds with recent headlines.
They are not alone...
Those of us in the Mid-West have been listening to the media reports that the economy has turned the corner and that jobs will come roaring back in the spring of 2010. But … (44 comments)
If you answered "D", you're right in my book! :) Seriously though, negotiating a Short Sale successfully is one of the most demanding aspects of the job for professional real estate agents today. The job is made even more difficult by the fact that the success rate is so low for so many. One instructor told me recently … (54 comments)
short sales: And...NO, it's NOT a Short Sale!
- 06/26/09 10:56 AM
In a real estate market in which strange sometimes competes with downright wierd and just plain freaky as descriptive of the myriad of things that can happen in a transaction, one of the most interesting developments lately has been increased number of homes which are being advertized in the 'Negative'. Negative as in... This home is NOT bank owned This home is NOT in a short sales This home will NOT require you to deal with anyone other than a single party home owner trying to sell their home!
As weary buyers deal with sales (i.e. many short sales) … (6 comments)
short sales: When Foreclosure Goes Upscale ...Part 2
- 06/20/09 04:09 PM
Just over three years ago, a select group of brokers and agents in Grand Rapids, Michigan got together in a conference room at the local board. They had been tasked by the Board of Directors to study and make recommendations about a problem which seemed to be mushrooming across the local community. Foreclosure and Short Sales has jumped from being barely a bleep in the statistics to trending into the double digits over 10%. Click here to continue reading Part 1.
Meeting the Luxury Home Challenge!
As values tumble, the challenge of selling a home for a good price particularly … (6 comments)
short sales: When Foreclosure Goes Upscale...Part 1 ~ Surviving the Grime in Prime.
- 06/20/09 04:02 PM
Just over three years ago, a select group of brokers and agents in Grand Rapids, Michigan got together for series of meetings. They had been tasked by the Grand Rapids Association Board of Directors to study and make recommendations about a problem which seemed to be mushrooming across the local community. Foreclosure and Short Sales had jumped from being barely a bleep in the statistics to trending into the low double digits. Although, few of us in the room could have envisioned where this assignment would take us, I vividly recall gasping when someone suggested that we might just be seeing … (4 comments)
short sales: Understanding How Your Home is Valued During the Short Sale Process
- 04/17/09 10:09 AM
While the number of homes being Sold under 'special conditions' a term which is a euphemism for distress sales in Grand Rapids, MI trended slightly downward in March, home owners will still be dealing with the impact of so many homes in 'crisis' on the market this spring. The spring market is traditionally the period for the most activity in the real estate industry. In Grand Rapids, MI; a gorgeous day like the one we enjoyed today, is just the tonic needed to spur many potential home buyers into the buying mode. With the tax credit available to buyers who purchase … (4 comments)
short sales: Success Strategies for Selling in A Short Sale Market!
- 02/05/09 08:45 AM
Grand Rapids, MI 2009... Homeowners in Grand Rapids, MI have witnessed a startling increase in the rates of homes sold through foreclosure sales and short sales. In the early portion of 2007, the percentage of home sales that were 'crisis sales' hovered between 14% - 16%. But by the end of 2008 and into early 2009 the numbers had escalated dramatically to account for over 70% of the homes sold by the members of the Grand Rapids Association of Realtors Board. Selling a home within this type of environment requires a different approach. Although marketing a home has never been easy, … (1 comments)
short sales: A Short Primer on Surviving the Short Sale Experience as a Grand Rapids, MI Home Buyer!
- 12/15/08 05:01 AM
Purchasing a new home is one of the most exciting experiences an individual or family can have. If you've been out of the real estate market for some time, you may be unaware of some dramatic changes in the real estate market landscape. In today's market, there are some unique situations which home buyers should be aware of as they prepare to consider the purchase of a new home. GOOD NEW FIRST... The good news is that home buyers in the Grand Rapids, Michigan area will find that they have a bountiful number of choices for a new home purchase. Inventory … (11 comments)
short sales: 5 Reasons Why your Grand Rapids, Mi Home Did Not Sell Today! (Part 1)
- 06/11/08 03:12 PM
Over the past couple of months over 2,000 homes have Sold in the Grand Rapids, Michigan area. If you're reading this post and you have NOT sold your home, you may be wondering WHY your home was not on the list. While it's easy to blame the market or popular to blame your real estate agent, this doesn't change the fact that thus far your efforts to sell have been unsuccesful. So, let's explore some reasons WHY your home may not have sold by exploring the answers to the following questions. Did You Price Your Home for the Current Market? … (6 comments)
short sales: "Lola, I tell you...the guy looked like Mr. Santa Claus!"
- 03/04/08 12:16 PM
I was in my office some time back when a call came in. The caller was frantic! As the words tumbled out, I slowly began to decipher what was being said. The voice on the other end was panicked as they described a most bizarre situation. These were my dear clients. We had successfully helped them to purchase this lovely home several months prior. They had happily settled down in their new home...and now this! The drama had started with a knock on the front door. When they opened the door, a grandfatherly looking man dressed in a nice suit introduced himself. He indicated … (24 comments)
In Grand Rapids, Michigan it's an argument that every real estate agent has heard at least once. In the opinion of most...one time too many. It goes something like this. I'd like to sell my home, but I need (X) amount from it. I know that you are recommending I list my home for 10 ~15 % Less than (X) but I figure that if buyers are interested, they will make an offer. I refer to this argument as the decision to Chase Down the Market. Chasing Down the Market has become a real estate consumer sport. Homeowners gambling with the odds … (16 comments)
short sales: When You've Made a MESS...Clean It UP...Then Figure Out What NOT to Do!
- 01/04/08 11:29 AM
When you consider the fact that a scant 18 ~ 24 months ago, many real estate agents in Grand Rapids, Michigan had never heard the term "Short Sale," it is remarkable that a Search of Listings Currently Active on the Grand Rapids Association of Realtor Multiple Listing Service has 1,217 homes categorized in this way. Almost 40% of Last Quarters Sales Volume(2006) was Short Sale or Foreclosure related. With just over 10,000 Listings, that equates to 1 in 10 Current Listings being a Distress Sale. While, the number of homes in Foreclosure and Short Sale are higher on the East side of Michigan, Western Michigan has … (2 comments)
short sales: Maximizing the Value of Specialization...Understanding Foreclosures & Short Sales (Part 2)
- 11/27/07 02:24 PM
* This blog post is Part 2 of : Maximizing the Value of Specialization...Understanding Foreclosures & Short Sales. Refer to links below for other blog posts in this series about Effectively Marketing Your Real Estate Skills to Provide Value and Optimize Your Income. There are many challenges associated with determining the viability of taking a listing which is in trouble with the bank. It is important to assess the implications carefully before proceeding. There are times when it is not possible to be of assistance. However, many situations can be greatly aided by the skills of a properly trained, licensed real estate agent. Here are some … (17 comments)
Grand Rapids, Michigan real estate information including houses for sale, rent and home buyer/seller tips. Also includes wisdom and insights from Lola Audu, CRS Associate Broker.
Grand Rapids, Michigan Real Estate
Grand Rapids Real Estate
West Michigan Real Estate
Buying A home in Grand Rapids, Mi
Selling Your Grand Rapids, Mi Home
Downtown Grand Rapids, Michigan
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Relocating to Grand Rapids, Michigan
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