Wynne’s Michigan Real Estate Chat

Real Estate Tip- HOT OFF THE PRESS!
The US Treasury laid out final guidelines on November 30, 2009, that should make it easier for some borrowers in financially dire circumstances to sell their homes through either a short sale or deed in lieu of foreclosure. The guidelines expand on the government’s Home Affordable Modification Program, known as HAMP, and provide financial incentives and simplify the procedures for completing short sales, which occur when a borrower sells a home for less than what is owed on his mortgage(s). The guidelines encourage the use of short sales by providing incentives to investors, servicers and borrowers. Additionally, the guidelines help to address hurdles that occur in the short sale process, by setting limits on the time it takes a bank to approve an offer, freeing borrowers from debt and capping claims of subordinate lenders. Some of the primary incentives under the plan include:
A borrower would receive $1,500 from the government (for relocation expenses) if he sells his home for less than the amount of his mortgage(s).
Mortgage servicers and Investors who hold a first mortgage could receive up to $1,000 from the government for each completed short sale.
Second mortgage holders can receive up to $3,000.00 of the sales proceeds in exchange for releasing their liens.
Borrowers who complete a short sale under the program must be “fully released” from future liability for the debt, according to the guidelines.
Mortgage servicers have 10 days to approve or disapprove a request for short sale
Mortgage servicers are prohibited from mandating reduced real estate commissions on the sale.
The program is open to borrowers who may be eligible for the government’s loan-modification program, but don’t end up qualifying, or are delinquent on their modification, or request a short sale or deed-in-lieu transaction.

RELATIONSHIPS. RESOURCES. RESULTS.
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The above may contain general legal information from the legal staff at Fidelty National Title. It is not intended as legal advice for any specific situation. Please contact an attorney directly for such advice.

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Looking for some tips for curb appeal? Read this recent short article I posted from the Wall Street Journal. A little bit of work and small amount of cash can do wonders for that first impression your drive by buyers will see. Make them want to own Your Home. For more innovation tips on selling your home contact me @ 810-765-8167 or Sold@wynnea.com Visit me on the Web www.wynnea.com

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                                                                                                    As noted a few blogs ago, H and R Block  Income Tax Preparer, Real Estate Consultants, Real Estate One Westrick (Tom Wagener and Wynne Achatz), and several shops at our Marine City K Mart Plaza held a Stimulas Day Party. I was given a booth at H & R BLOCk to hook up my computer and printer, several vendors had set up their tables out side to draw attention to H and R Block’s shop including myself. Children played games outside on the sidewalk, Tasefully Simple had a sample Table outside, A couple of the Local Eateries brought Pizza for lunch for us and passer bys. Broadway Pizza brought Chicken Parmesan Pizza and Bar B Q Chicken Pizza. Anitas sent over pepperoni Pizza.

The different shops invited each other to check out the other’s bargains. H and R Block made up flyers on the Stimulous Plan and Tax benefits of buying a home right now. I was on hand to help out anyone that may be interested in investing in a home or being a 1st time buyer to get the maximum tax credit.

We all had a lot of fun and had a good networking day. There was a lot of good Chi and Energy flowing today. We all left at 5 O’clock happy with spirits lifted with all our connections. Thanks to everyone that dropped by for making our day.

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Just Sold - 220,000.

just SOLD 1913 and 1945 South Parker, Marine City

These days, tax credits and high housing inventory make it a buyers’ market. If you’re a seller, don’t despair. There are a variety of renovations that can help make your home stand out. Many buyers look at numerous homes when shopping for a house; so enhancing your home to make it more memorable is vital and increases the chances of a successful sale. Call 810-765.8167 today and let’s get that house SOLD!!!

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Watch Your Speed

Starting March 1, 2009, Michigan will launch a 31 day speeding ticket frenzy. The state estimates that $9 million dollars will be generated in speeding tickets, with an additional $3.5 million in revenue for failure to wear a seatbelt.. $1 million will go to pay state troopers overtime. There will be 47 state troopers on duty at all times patrolling the main intersections and highways with the highest rates of speeding.

They are the following:

I-75, especially from the Ohio line north to Woodhaven, and again from Auburn Hills to Flint
I-96 east and west in its entirety
I-275 north and south
I-675 north and south
I-94 east and west from Battle Creek to Jackson
I-696 east and west in its entirety
I-196 east and west
US-131 north and south
I-69 east and west from Lansing to Flint and again from Flint eastward to Port Huron.
I-69 north and south from I-94 to Lansing
M-14 east and west from I-94 to I-275
M-39 from I-94 to I-96
M-59, especially from Pontiac to Utica, and from Utica east
US-10 from Midland to Bay City
US-23 from I-96 to Flint
US-27 from Lansing to Mt. Pleasant

Quotas:
5 mph above the limit can justify a ticket and every state trooper is supposed to pull a car over and write a ticket every 10 to 20 minutes. They have issued 30 brand new unmarked Dodge Charger Police cruisers and canceled all vacation time. In addition, they are bringing in all of their part timers on full time for the month. This nonsense will conclude on April 1.
Driving Ticket fine increase in MI:
Starting on January 15th, the price of a ticket for violation of MI Law 39:3-29 (failure to show your driver’s license, registration, or proof of insurance card at the time you are stopped) went from $44.00 to $173.00. Please make sure your vehicles have the proper documents in them. If you jump in the car to run to the store and forget your wallet with your license in it and you are stopped…. Oh well… you just spent $173. And the fine for not having all three documents is $519!!!
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Wynne at Work

Algonac Homes For sale – Marine City Homes for Sale St. Clair Homes for sale. Yes, that is right. Properties are selling. Our office negotaited an offer today on 1 vacant parcel in China Township and a residence in Marine City. We scheduled 4 showings for properties that are listed in East China, Marine City and Algonac and expect 2 more offers by week’s end. I am in the process of lisitng a home in Marine City on the St. Clair River, a Condo in Marine City, and a home in Clay Township  MI. It takes a little more work today and a lot more hours for a real estate agent to get that listing sold. Gone are the days of putting the listing into the MLS with a picture or 2. Today’s real estate market is saturated with homes for sale. There needs to be nine – twelve or more photos in MLS. These listings now go right into Google Real Estate. 

 Then listing should also be in the RealComp MLS, too. From there it will penetrate “MoveInMichigan.com.

It is very important to have a visual tour  of your home linked to the listing data sheet. These are just some of the Extra Steps an aggressive Real Estate Consultant will take to market your property to the buyer’s market that is searching the web daily for the best prices home.

For more information  or to list your home call my direct line today 810-765-8167.

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