Purchasing a home in today’s market is likely the best move in Ann Arbor real estate you can make! Inventory is high, cost of money is near historic lows and the cost of the average home is lower than…
Category Archives: Mortgages
Greenspan and the Subprime Market
October 3, 2007 – 12:46 pm
Team366 reads the tea leaves of the real estate market and beats Alan Greenspan to the obvious.
The Subprime Market: "Six-inch Hooker Heels"
June 27, 2007 – 5:47 pm
The subprime blowout is not over?
So, cruising around today on the RSS feeds and bump into this little beauty of an article on Inman News. Nevermind the icky feeling I get seeing two sumo wrestlers practicing their sport, there is something special about an article that describes how the most recent housing boom was somehow [...]
Subprime Mortgages. An Aha! Moment.
April 11, 2007 – 9:52 pm
A sad, yet interesting phenomenon has been happening with greater frequency in the realm of real estate. That’s the talk of and acceptance of short sales as a way to sell a home.
Short sales, in the “Cliff Notes” version, are the way for sellers to negotiate directly with a bank or note holder the difference [...]
To Buy or Not to Buy. The Answer is Now!
March 2, 2007 – 5:55 pm
Anyone following recent news about Countrywide and other lenders will see a trend. A rising percentage of their sub-prime loans are experiencing delinquent payments.
So what do rising rates of delinquency have to do with buyers?
In the not too distant future, it is very conceivable that higher credit scores will be necessary for higher loan [...]
Signs of the Times
July 17, 2006 – 9:10 am
At a weekend open house for this condominium, I decided to try something a little different. In addition to the traditional Open House signs and notifications, I thought I could generate some foot traffic if folks knew what their monthly payment would be, hence this photo:
Don’t you know that the one person who came [...]
A Central Michigan Nod
June 1, 2006 – 11:24 am
Wow! Another tip of the hat from an area blogger. This time, the tip comes from a mortgage banker from Okemos, Michigan. Dave Porter has a (very) complimentary post on yours truly and frankly, this Realtor is blushing! It doesn't hurt that Dave is also the Vice President of the Michigan [...]
Is your ARM in Danger?
March 8, 2006 – 3:30 pm
Are you one of the many folks that decided to purchase your home with an Adjustable Rate Mortgage (ARM)? Or did you recently refinance yourself into and ARM? While the immediate benefits of the ARM as a mortgage product were and, in some cases, still are substantial, the majority of folks currently in [...]
Michigan Foreclosures
March 7, 2006 – 11:37 am
If you haven’t heard recently, Michigan is going through a change in its economy. While that’s stating the obvious, what might not be immediately obvious is the impact on the housing market this changing economy is having.
This article points to Michigan’s current foreclosure statistics as being double the national average, with 8,200 homes currently [...]
Appraisal and Mortgage Fraud
March 2, 2006 – 8:31 pm
I found another article that I think you will be interested in reading. This time, the article concerns appraisals and their effect on property valuations and mortgage fraud.
As you can imagine, I’ve some strong opinions on this topic. The fallout from these inflated appraisals, highlighted in the article, that I have seen first [...]
