Choosing a Buyer's Representative

Questions to ask

When it's time to buy a home, it's also time to select a buyer's agent to represent your interest in this all-important transaction. But how do you choose one? Here are some of the most significant issues to consider and questions to ask when interviewing you Accredited Buyer's Representative.

Interview questions:

EXPERIENCE AND CREDENTIALS

How long have you been a buyer's agent? How long have you been an Accredited Buyer's Representative? What other real estate designations or credentials do you hold?

REFERENCES

Can you share the names and contact details for three past buyers-clients who can provide references?

KNOWLEDGE

What are you areas of specialized knowledge? Which types of housing or neighborhoods do you know best?

REPRESENTATION

Please explain what representation choices I have as a buyer. What is meant by fiduciary duties? Do you practice dual representation?

SERVICES PROVIDED

Please explain how you will assist me at each stage of the transaction. Do you have a written buyer representation agreement that details our obligations to each other?

COMPENSATION

How will you be compensated? If I hire you as my buyer's agent will I be subjected to any additional costs in my transaction?

FINDING PROPERTIES

Do you have full access to the Multiply Listing Service (MLS)? Will you try to find suitable properties beyond the MLS?

PERSONAL SUPPORT

Will you handle all aspects of my transaction, or will I be working with assistants? Who will be explaining the various forms, agreements and steps required to reach closing?

NEGOTIATING

Will you counsel me on a negotiating strategy and appropriate contingencies? How will you package my offer to the seller? Will you personally present my offer?

FINANCING

Will you provide guidance on affordability, mortgage options and how to choose a lender? Why should I consider becoming pre-qualified or pre-approved on a mortgage?

RELATED SERVICE-PROVIDERS

Can you provide referrals to providers of other services related to my transaction, including home inspectors, surveyors, movers, etc.?

Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.

Northern Michigan Fireworks Schedule

The Fourth of July holiday is upon us and the incredible number of cars, trailers and boats on the northern Michigan highways right now is a sure sign that there are lots of families looking for fun and relaxation. Hanging out together and doing nothing is on everyone's agenda. In the United States there is nothing more traditional than watching the local Fireworks displays while all the while saying "Oooooh - Ahhhhh!!!". There is a plethora of displays scheduled and I thought it would be helpful to provide this link from UpNorth Live Tv 29/8 and Tv 7/4 in Traverse City. In addition to the local fireworks displays, many of the residents on our inland lakes are treated to impromptu fireworks displays from their neighbors. I wish a safe and fun filled 4th of July Holiday to everyone while we celebrate the United States and the freedoms that we enjoy. Enjoy your holiday and if you would like to explore some of the local waterfront real estate in Kalkaska County, please contact mary@homewaters.net.

Lowest Mortgage Rates in Decades

Mortgage rates dropped to the lowest level in decades this week, and home affordability is very favorable. Uncertainty about the extent of global economic growth and continued low inflation levels have helped mortgage rates reach these levels.
After months of debate, Congress reached agreement on the Financial Reform bill, and it is expected to pass next week. The bill includes many provisions which will affect mortgage lending and the home buying process, but the impact will not be fully known for some time as many of its changes are subject to regulatory discretion. Separately, the larger bill containing an extension to the home buyer tax credit "close-by" deadline failed to pass this week. Lawmakers will continue to debate the bill, but it appears unlikely that the "close-by" deadline will be changed before the current June 30 deadline is reached.
The performance difference in this week's two housing reports was stark, but it was mostly due to measurement methods. May Existing Home Sales fell 2% from April, and were up 19% from one year ago. May New Home Sales dropped 33% from April, which was about 13% lower than one year ago, and a record low level. There's an important difference between the two reports, though. Existing Home Sales measure transaction closings, while New Home Sales are based on contract signings. The April 30 contract signing deadline to receive the home buyer tax credit pulled many contract signings forward into April, and some of these deals closed in May. As a result, Existing Home Sales were still boosted by the tax credit in May, while New Home Sales were not. For more information and free mortgage advice, please e-mail Keith Gillow at: keith@frontstreetmtg.com.

Tight Lines,

Keith

Foreclosure Listings in Beaverton, Michigan

This post is an update to a series I publish weekly on available foreclosure listings in the Beaverton, Michigan area. I also post a series on foreclosure listings that are currently available in Gladwin and Harrison, Michigan as well.

You may find it helpful to check out all my foreclosure listing blog posts as they are updated weekly! This will make it easy for you to get updates on available foreclosure listings!

I will start with a summary of important information to know and consider before beginning the process of searching for foreclosure listings (bank owned and HUD properties).

Definition of foreclosure according to wikipedia is:

The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien". If the promissory note was made with a recourse clause then if the sale does not bring enough to pay the existing balance of principal and fees the mortgagee can file a claim for a deficiency judgement.

You may hear a Foreclosure sale called an REO or Repo...these are all synonyms for a house that has been foreclosed upon and is now bank owned.

Definition of HUD property

When someone with an FHA Insured mortgage defaults on the loan, the lender forecloses on the home; FHA pays the lender what is owed; and then HUD takes ownership of the home. In Michigan and other states HUD turns over the property to Michaelson, Connor and Boul Inc. (MCB) a Marketing and Management contractor for HUD. MCB maintains and sells these properties in accordance with HUD guidelines.

A great resource for answers to frequently asked questions about searching for, viewing, and the buying process of HUD homes is available at the FAQ page on mcbreo.com. Click here to view it!

1. The first step in buying any foreclosure listing or HUD home is to determine if you have the cash available or if you can qualify for some type of financing. When submitting an offer to purchase a foreclosed property most banks or government agencies will not even consider your offer unless it is accompanied by a letter of pre-approval from a lender or a proof of funds letter showing the availability of your cash. This step cannot be skipped and I cannot stress the importance of getting this in order before searching for available homes.

2. Find a local real estate agent familiar with the area you are looking in. Real estate is local and an out of town agent may not be fully aware of the intricacies of selling real estate in that specific area or know about certain things happening locally that may affect your decision to purchase in that area or buy that specific home. I am an Accredited Buyers Agent (ABR) fully qualified to represent buyers in the Gladwin, Michigan area and the surrounding communities of Beaverton, Harrison, Clare and Hope. I have extensive knowledge of the local real estate market and am very experienced in the sale of foreclosure listings. 60% of my business so far this year has come from the sale of foreclosed listings or HUD homes.

3. Buying a Foreclosure Listing or HUD property is not like buying from an individual. Almost all foreclosure listings or HUD properties are sold as-is, where-is, meaning that you will be buying the property in its present condition and no repairs will be made by the owner. Typically the house is priced according to its fair market value taking into account its condition. This does not mean that you should not do an inspection! As a matter of fact that is one of the most important steps...this will ensure you are fully aware of the condition of the home you are going to purchase and determine if you want to or can repair the home.

There will be additional paperwork involved in making an offer to purchase a bank owned/foreclosure listing. Banks typically have an addendum to the purchase agreement, as-is statement, and other documents that must be reviewed and signed and either sent along with the offer to purchase or signed after acceptance of your offer. The complexity and length of these documents is another reason why it is so important to choose an agent familiar with selling foreclosure listings. Your agent will guide you through the process, answering your questions along the way.

Banks work on their time line not yours and do only what is in their best interest. For the bank selling the property it is all about the bottom line. They will decide if your offer makes financial sense based on the local market, the value of the property and your method of payment. They will respond when they can (and do try to do so in a timely manner) but they do not have to respond at all if they do not like the offer. Banks can review multiple offers to purchase a property at one time and in this case usually require the highest and best offer from all parties who are interested in purchasing.

Remember foreclosure listings are vacant and immediate occupancy is given which can speed up the process of moving in!

Below is the list of foreclosure listings for sale in Gladwin, Michigan in the Clare/Gladwin Board of Realtors MLS and links to the HUD properties and Fannie Mae (Home Path) properties in the Gladwin, Michigan. I strongly advise that you contact me to check the properties availability as foreclosure listing and HUD properties are priced to sell in 90 days or less. The Gladwin, Michigan market has an average of 7.5 months to sell a property so when a bank decides on a list price to sell the property in 90 days or less they are priced well below market value and tend to sell quickly.

Available HUD properties in Beaverton, Michigan.

There are no HUD properties in Beaverton, Michigan this week. Check back for an updated list next week.

To view the foreclosure listings in the MLS, click the link here that will take you to my website, hit "Search the Clare/Gladwin MLS" on the menu bar and follow the prompt to get into the MLS. Click "Search By MLS Number" and type in any or all of the MLS numbers listed below for more information and pictures.

One new listing for Beaverton area!!!

5786 M-30 BEAVERTON MICHIGAN MLS # 153661

1145 NORWAY ST BEAVERTON MICHIGAN MLS # 152491

1920 LONG RD, BEAVERTON MICHIGAN MLS # 153319

1091 OAKWOOD BEAVERTON MICHIGAN MLS # 15231

Available Fannie Mae (Home Path) Listings in Beaverton, Michigan

4223 LAKE DR, BEAVERTON MICHIGAN

1920 LONG RD, BEAVERTON MICHIGAN

My job as your Realtor is to guide you through the process of buying a foreclosure listing or HUD property and to answer your questions with my experience, patience and understanding. Buying a foreclosure listing or HUD property is a big deal, exciting, and could be a great way to invest or buy your first home!

I do offer a service to my clients that automatically emails you new listings that come on the market meeting your specific criteria. This eliminates the need for you to spend endless hours online sifting thru the current inventory. It also notifies you the day it comes on the market so you don't miss a great opportunity! Send an email or contact me by phone or text and tell me what you are looking for! I will set up the notification for you.

Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.

Foreclosure Listings in Harrison, Michigan

Foreclosure Listings in Harrison, Michigan

This post is an update to a series I publish weekly on available foreclosure listings in the Harrison, Michigan area. I also post a series on foreclosure listings that are currently available in Gladwin and Beaverton, Michigan as well.

You may find it helpful to check out all my foreclosure listing blog posts as they are updated weekly! This will make it easy for you to get updates on available foreclosure listings!

I will start with a summary of important information to know and consider before beginning the process of searching for foreclosure listings (bank owned and HUD properties).

Definition of foreclosure according to wikipedia is:

The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien". If the promissory note was made with a recourse clause then if the sale does not bring enough to pay the existing balance of principal and fees the mortgagee can file a claim for a deficiency judgement.

You may hear a Foreclosure sale called an REO or Repo...these are all synonyms for a house that has been foreclosed upon and is now bank owned.

Definition of HUD property

When someone with an FHA Insured mortgage defaults on the loan, the lender forecloses on the home; FHA pays the lender what is owed; and then HUD takes ownership of the home. In Michigan and other states HUD turns over the property to Michaelson, Connor and Boul Inc. (MCB) a Marketing and Management contractor for HUD. MCB maintains and sells these properties in accordance with HUD guidelines.

A great resource for answers to frequently asked questions about searching for, viewing, and the buying process of HUD homes is available at the FAQ page on mcbreo.com. Click here to view it!

1. The first step in buying any foreclosure listing or HUD home is to determine if you have the cash available or if you can qualify for some type of financing. When submitting an offer to purchase a foreclosed property most banks or government agencies will not even consider your offer unless it is accompanied by a letter of pre-approval from a lender or a proof of funds letter showing the availability of your cash. This step cannot be skipped and I cannot stress the importance of getting this in order before searching for available homes.

2. Find a local real estate agent familiar with the area you are looking in. Real estate is local and an out of town agent may not be fully aware of the intricacies of selling real estate in that specific area or know about certain things happening locally that may affect your decision to purchase in that area or buy that specific home. I am an Accredited Buyers Agent (ABR) fully qualified to represent buyers in the Gladwin, Michigan area and the surrounding communities of Beaverton, Harrison, Clare and Hope. I have extensive knowledge of the local real estate market and am very experienced in the sale of foreclosure listings. 60% of my business so far this year has come from the sale of foreclosed listings or HUD homes.

3. Buying a Foreclosure Listing or HUD property is not like buying from an individual. Almost all foreclosure listings or HUD properties are sold as-is, where-is, meaning that you will be buying the property in its present condition and no repairs will be made by the owner. Typically the house is priced according to its fair market value taking into account its condition. This does not mean that you should not do an inspection! As a matter of fact that is one of the most important steps...this will ensure you are fully aware of the condition of the home you are going to purchase and determine if you want to or can repair the home.

There will be additional paperwork involved in making an offer to purchase a bank owned/foreclosure listing. Banks typically have an addendum to the purchase agreement, as-is statement, and other documents that must be reviewed and signed and either sent along with the offer to purchase or signed after acceptance of your offer. The complexity and length of these documents is another reason why it is so important to choose an agent familiar with selling foreclosure listings. Your agent will guide you through the process, answering your questions along the way.

Banks work on their time line not yours and do only what is in their best interest. For the bank selling the property it is all about the bottom line. They will decide if your offer makes financial sense based on the local market, the value of the property and your method of payment. They will respond when they can (and do try to do so in a timely manner) but they do not have to respond at all if they do not like the offer. Banks can review multiple offers to purchase a property at one time and in this case usually require the highest and best offer from all parties who are interested in purchasing.

Remember foreclosure listings are vacant and immediate occupancy is given which can speed up the process of moving in!

Below is the list of foreclosure listings for sale in Gladwin, Michigan in the Clare/Gladwin Board of Realtors MLS and links to the HUD properties and Fannie Mae (Home Path) properties in the Gladwin, Michigan. I strongly advise that you contact me to check the properties availability as foreclosure listing and HUD properties are priced to sell in 90 days or less. The Gladwin, Michigan market has an average of 7.5 months to sell a property so when a bank decides on a list price to sell the property in 90 days or less they are priced well below market value and tend to sell quickly.

Available HUD properties in Harrison, Michigan.

4259 Filter Rd

10281 Pigeon Dr

314 E Spruce St

526 ITHACA

To view the foreclosure listings in the MLS, click the link here that will take you to my website, hit "Search the Clare/Gladwin MLS" on the menu bar and follow the prompt to get into the MLS. Click "Search By MLS Number" and type in any or all of the MLS numbers listed below for more information and pictures.

153561 4301 Filter, Harrison Michigan

15306 4312 Aronold Lake, Harrison Michigan

153440 3745 Bailey Lake Ave, Harrison Michigan

152799 8210 Jackson HARRISON MI

152760 285 Maple HARRISON MI

152962 1763 Mina, Harrison Michigan

153013 7521 ARNOLD LAKE RD, HARRISON MI

Available Fannie Mae (Home Path) Listings in Harrison, Michigan

10887 N. Athey Avenue

6815 E Gladwin Rd

My job as your Realtor is to guide you through the process of buying a foreclosure listing or HUD property and to answer your questions with my experience, patience and understanding. Buying a foreclosure listing or HUD property is a big deal, exciting, and could be a great way to invest or buy your first home!I do offer a service to my clients that automatically emails you new listings that come on the market meeting your specific criteria. This eliminates the need for you to spend endless hours online sifting thru the current inventory. It also notifies you the day it comes on the market so you don't miss a great opportunity! Send an email or contact me by phone or text and tell me what you are looking for! I will set up the notification for you.

Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.

Real Estate Market Conditions,May 2010, Gladwin County, Michigan

Real Estate Market Conditions for May 2010.

Gladwin County is located in rural Northern Michigan and is conveniently located within 3 hours of Detroit and 2-2.5 hours of Flint and Lansing making it easy to come "Up North" for the weekend. But, we encourage you to stay longer. After visiting Gladwin you will want to spend much more time here! Gladwin, Michigan is an area popular for its scenic lakes (including Wixom Lake and Secord Lake), plentiful state land, quaint parks, Amish communities and down town shopping. Gladwin is primarily a second home/resort community due to the amount of waterfront homes. Gladwin, Michigan has real estate to accomodate every buyer from very affordable cabins to luxurious homes. As a life long resident of Gladwin I know the area well and the real estate market even better!

248 Clendening Rd, Gladwin $149,00

1432 Fairfield Way Sugar Springs, Gladwin

Lake Lancer $159,900

The real estate market conditions in Gladwin, Michigan along with most areas of Michigan, remain challenging, but appear to be improving and stabilizing! A stagnant economy and a lack of qualified buyers remains. However, if you are interested in buying your first home or your vacation home, it is a fabulous time to buy! Interest rates are low for qualified buyers, there is a lot of inventory to choose from and homes are more affordable then they have been in years! There is less available inventory and more buyers in the market now, so don't delay if you are thinking of beginning a search to buy this Summer. Sellers: don't delay any longer as our busy season comes to a close in early to mid-November.

Here are the latest real estate market conditions for Gladwin, Michigan and the surrounding areas of Beaverton, Harrison, Clare, Rhodes, Bentley, Wixom Lake and Secord Lake. May has proven to be a busy month and my personal observations show me a stable market with more buyers actively looking and making purchasing decisions.

The Clare/Gladwin Board of Realtors currently has 1094 homes for sale through the Multiple Listing Service (MLS) and 175 of those were new to the market in May 2010. The number of new listings is up by 30 listings but our inventory is still down by about 400-500 listings from last year at this time! The average asking price of the homes currently on the market is $123,970 and the average days on market for those homes has been 284 days. These stats are only slightly different than the last 10 months clarifying my theory that the Gladwin, Michigan real estate market conditions are stable! Residential asking prices range from $7,900 - $2,400,000.

During the month of May we saw 49 homes sell/close in Gladwin, Michigan. This is 4 less than April. The average asking price was $88,314. The average sales price was $78,968 and the average days on market for these homes was 214 days. The sellers received an average of 89.7% of their asking price.

37 homes expired from the market unsold in May in Gladwin. The main reason homes don't sell during their listing period is that they were priced incorrectly for the real estate market conditions and or condition of the home. In any market it is imperative that a listing be priced as competitively as possible for its condition in order to have the best chance of selling. To learn more about why homes epxire from the market visit this link to a page on my website. If you're thinking about selling your Gladwin area home one very important fact to know about your real estate market conditions is the absorption rate. The absorption rate will tell you how long it will take for the current inventory of homes in Gladwin, Michigan to be absorped by the market if no other homes come on the market. The absorption rate for May 2010 is 1.9 years! This number has decreased and is working its way to a more balanced market each month. If you want your Gladwin, Michigan area home sold you need to know this number to help you price your home accordingly.

Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.

Foreclosure Listings in Gladwin, Michigan

This post is an update to a series I publish weekly on available foreclosure listings in the Gladwin, Michigan. I also post a series on foreclosure listings that are currently available in Beaverton and Harrison, Michigan as well.

You may find it helpful to check out all my foreclosure listing blog posts as they are updated weekly! This will make it easy for you to get updates on available foreclosure listings!

I will start with a summary of important information to know and consider before beginning the process of searching for foreclosure listings (bank owned and HUD properties).

Definition of foreclosure according to wikipedia is:

The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien". If the promissory note was made with a recourse clause then if the sale does not bring enough to pay the existing balance of principal and fees the mortgagee can file a claim for a deficiency judgement.

You may hear a Foreclosure sale called an REO or Repo...these are all synonyms for a house that has been foreclosed upon and is now bank owned.

Definition of HUD property

When someone with an FHA Insured mortgage defaults on the loan, the lender forecloses on the home; FHA pays the lender what is owed; and then HUD takes ownership of the home. In Michigan and other states HUD turns over the property to Michaelson, Connor and Boul Inc. (MCB) a Marketing and Management contractor for HUD. MCB maintains and sells these properties in accordance with HUD guidelines.

A great resource for answers to frequently asked questions about searching for, viewing, and the buying process of HUD homes is available at the FAQ page on mcbreo.com. Click here to view it!

1. The first step in buying any foreclosure listing or HUD home is to determine if you have the cash available or if you can qualify for some type of financing. When submitting an offer to purchase a foreclosed property most banks or government agencies will not even consider your offer unless it is accompanied by a letter of pre-approval from a lender or a proof of funds letter showing the availability of your cash. This step cannot be skipped and I cannot stress the importance of getting this in order before searching for available homes.

2. Find a local real estate agent familiar with the area you are looking in. Real estate is local and an out of town agent may not be fully aware of the intricacies of selling real estate in that specific area or know about certain things happening locally that may affect your decision to purchase in that area or buy that specific home. I am an Accredited Buyers Agent (ABR) fully qualified to represent buyers in the Gladwin, Michigan area and the surrounding communities of Beaverton, Harrison, Clare and Hope. I have extensive knowledge of the local real estate market and am very experienced in the sale of foreclosure listings. 60% of my business so far this year has come from the sale of foreclosed listings or HUD homes.

3. Buying a Foreclosure Listing or HUD property is not like buying from an individual. Almost all foreclosure listings or HUD properties are sold as-is, where-is, meaning that you will be buying the property in its present condition and no repairs will be made by the owner. Typically the house is priced according to its fair market value taking into account its condition. This does not mean that you should not do an inspection! As a matter of fact that is one of the most important steps...this will ensure you are fully aware of the condition of the home you are going to purchase and determine if you want to or can repair the home.

There will be additional paperwork involved in making an offer to purchase a bank owned/foreclosure listing. Banks typically have an addendum to the purchase agreement, as-is statement, and other documents that must be reviewed and signed and either sent along with the offer to purchase or signed after acceptance of your offer. The complexity and length of these documents is another reason why it is so important to choose an agent familiar with selling foreclosure listings. Your agent will guide you through the process, answering your questions along the way.

Banks work on their time line not yours and do only what is in their best interest. For the bank selling the property it is all about the bottom line. They will decide if your offer makes financial sense based on the local market, the value of the property and your method of payment. They will respond when they can (and do try to do so in a timely manner) but they do not have to respond at all if they do not like the offer. Banks can review multiple offers to purchase a property at one time and in this case usually require the highest and best offer from all parties who are interested in purchasing.

Remember foreclosure listings are vacant and immediate occupancy is given which can speed up the process of moving in!

Below is the list of foreclosure listings for sale in Gladwin, Michigan in the Clare/Gladwin Board of Realtors MLS and links to the HUD properties and Fannie Mae (Home Path) properties in the Gladwin, Michigan. I strongly advise that you contact me to check the properties availability as foreclosure listing and HUD properties are priced to sell in 90 days or less. The Gladwin, Michigan market has an average of 7.5 months to sell a property so when a bank decides on a list price to sell the property in 90 days or less they are priced well below market value and tend to sell quickly.

Currently available HUD properties in Gladwin, Michigan.

5549 Butman Rd

3880 M-18

To view the foreclosure listings in the MLS, click the link here that will take you to my website, hit "Search the Clare/Gladwin MLS" on the menu bar and follow the prompt to get into the MLS. Click "Search By MLS Number" and type in any or all of the MLS numbers listed below for more information and pictures.

No new listings from the MLS site this week, check back next week!

153535 760 Shearer, Gladwin MI

153264 1328 M-61, Gladwin MI

153375 7669 M-18, GLADWIN MI

153386 1091 RADOV GLADWIN MI

153296 1310 SILVERLEAF ST GLADWIN MI

152702 795 M 30, Gladwin, MI

152814 690 Hockaday rd, Gladwin MI

152847 4608 River lane, Alger MI

Available Fannie Mae (Home Path) Listings in Gladwin, Michigan

133 Dennis St

7699 NORTH M-18

1328 W M-61, Gladwin

5048 Pavloff Dr, Gladwin

701 N Antler St

5469 Winchester Way

410 W 3rd St

My job as your Realtor is to guide you through the process of buying a foreclosure listing or HUD property and to answer your questions with my experience, patience and understanding. Buying a foreclosure listing or HUD property is a big deal, exciting, and could be a great way to invest or buy your first home!

I do offer a service to my clients that automatically emails you new listings that come on the market meeting your specific criteria. This eliminates the need for you to spend endless hours online sifting thru the current inventory. It also notifies you the day it comes on the market so you don't miss a great opportunity! Send an email or contact me by phone or text and tell me what you are looking for! I will set up the notification for you.

Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.

Au Sable River Estate

A picture is worth a thousand words. But don't stop here. Knock on the door and see what this wonderful property has to reveal. Better yet, contact Home Waters for a guided tour and let us show you the best that the Au Sable River has to offer.

Mark Bear / Home Waters Recreational Real Estate / 989-889-5037

Land Conservation Easement

Understanding Conservancy

"The primary purpose of a conservation easement is to protect land from certain forms of development or use. Lands for which conservation easements may be desirable include agricultural land, timber resources, and/or other valuable natural resources such as wildlife habitat, clean water, clean air, or scenic open space. Protection is achieved primarily by separating the right to subdivide and build on the land from the other rights of ownership. The landowner who gives up these "development rights" continues to privately own and manage the land and may receive significant state and federal tax advantages for having donated and/or sold the conservation easement. Perhaps more importantly, the landowner has contributed to the public good by preserving the conservation values associated with their land for future generations. In accepting the conservation easement, the easement holder has a responsibility to monitor future uses of the land to ensure compliance with the terms of the easement and to enforce the terms if a violation occurs.

Although a conservation easement prohibits certain uses by the landowner, such an easement does not make the land public. On the contrary, many conservation easements confer no use of the land either to the easement holder or to the public. Furthermore, many conservation easements reserve to the landowner specific uses which if not reserved would be prohibited. Some conservation easements confer specific uses to the easement holder or to the public. These details are spelled out in the legal document that creates the conservation easement."     Source: Wikipedia

Land conservation easements have become popular here in river country. Heres a fine property whose owners have chosen to protect the environment and resource from future development.

Mark Bear / Home Waters Recreational Real Estate / Need more information? Contact Bear Also see: Holy Water Property

Looney for Shupac Lake

This Common Loon and his mate are seasonal residents on beautiful Shupac Lake located in Crawford County. Located three miles north of Lovells and within walking distance of the North Branch Au Sable River, this 107 acre lake is a blue water gem. Spring fed with long stretches of sandy shoreline, the lake is superb for swimming and fishing. This is not an all sports lake and boating is restricted to low horsepower engines suitable for pontoons and trolling. The Loon family knows quality water when they see it. You will too! See affordable Shupac Lake Property.

Also check out fishing on Shupac. Contact  Mark Bear, Realtor / 989-889-5037

Traverse City - Best Beach Town

AOL Travel listed Traverse City as one of their top ten "Best Beach Towns". The article labels it "the Malibu of Michigan". That is quite an honor as it was the only lakefront community to be listed. All others were oceanside communities that seem to be famous, such as Kennebunkport, Maine and Pismo Beach, Florida. This honor is something we all know and love about Traverse City, but it is nice to have the national exposure to allow for others to visit and enjoy the beauty we see everyday.

Let Homewaters help you find your perfect beach spot in the Traverse area. Contact Cheri Wickman to find your slice of "Malibu in Michigan!"

Hit the Road!

Michigan is a water wonderland indeed! Take an opportunity to get out on this Father's Day weekend to enjoy some of Michigan's finest bodies of water. Whether boating, fishing or just laying on the beach...there's a spot reserved for you to enjoy the kickoff of Summer. Hit the road and have some fun!

Trip Suggestion: Otsego Lake State Park   Gaylord, Michigan.  See waterfront properties on Otsego Lake

Low Inflation Helps Mortgage Rates

Economic data moved mortgage rates this week. Slower than expected economic growth data and tame inflation figures were favorable for mortgage markets. As a result, mortgage rates ended the week lower.
Heading into a Fed meeting next week, the low inflation data released this week means that there is little pressure on the Fed to begin raising the fed funds rate. May Core Consumer Price Index (CPI) inflation rose at a 0.9% annual rate, the lowest level in four decades. Usually the major task of Fed officials is to prevent inflation from moving too high, but they are now concerned about the risk that inflation will drop too low. Fed officials are most comfortable when inflation remains in the 1.5% to 2.0% range. This also means that there is little inflationary pressure to push mortgage rates higher. Of course, with expectations set so low, if inflation were to surprisingly increase in coming months, it could cause a large reaction in mortgage markets.
Will the "close by" deadline to receive the Home Buyer Tax Credit be extended? The answer to this question is not known as of this Friday morning. The Senate has approved an amendment to a larger bill to do so, but the larger bill is still being debated and its passage is not certain. Extending the "close by" deadline will benefit qualifying home buyers who are not able to close by June 30, the original deadline. Extending the deadline sooner rather than later would help relieve some anxiety. Right now, people in all phases of the home buying process are working very long hours to close an unusually large number of purchases before the end of the month. For more information and/or mortgage advice, please e-mail Keith Gillow at: keith@frontstreetmtg.com.

Tight Lines,

Keith

What Are You Looking for?

Looking for Northern Michigan property? Overwhelmed with the abundance of information available? Let Home Waters Recreational Real Estate guide you through your search. Each agent at Home Waters has an area of expertise for his or her geographic region. Our knowledge of the market area we service combined with our website and easy to use search tools will make your experience a lot more pleasurable.

If you are looking for property on the rivers or lakes of Crawford, Otsego, Oscoda or Montmorency counties, contact Bear.

Specializing in Au Sable River properties. I'm here to assist in your real estate needs!

Mark Bear, Realtor / Home Waters / 877-820-1194 Ext. 4

Great Home on 6 acres & 7 Miles to Torch Lake

Great stick built 4BR/2B home on 6 acres and 7 miles to the fabulous Torch Lake. This home boasts a full finished walkout basement and a 30x40 insulated heated garage with 200 amp service to store all the toys necessary for enjoyable up north living. Located in western Kalkaska County it is surrounded by lovely hardwoods and offers exceptional privacy.

Great floor plan offering over 1700 square feet of living space and a garage that is second to none. Ideal location to enjoy all the amenities of Traverse City which is only 18 miles away and the summer/winter recreational activities on Torch Lake and Shanty Creek Ski Resort. Priced at only $159,900 it is an exceptional package which would be ideal for either recreational or year-around living. Contact mary@homewaters.net for more information.

Sonya Loose on a Roll!!!

Since joining our firm in March of this year, she has been absolutley on fire in her service area of Clare/Gladwin. She's managed to take the prize as Associate of The Month for three months running by listing and selling more than any other agent in our firm. With 10 closed sales already and 5 more sales pending, she is on track for a truly banner year.

None of this is by accident. Sonya is very driven to do the best job possible for her clients. Pair this drive with terrific organizational skills, a natural charm and wit and an area that offers extremely attracitve pricing on waterfront and other properties and Sonya is the complete package if you're looking for representation as a buyer or seller. Her performance has helped to drive our entire firm to an exceptional start this year with 38 closed sales already. Not bad for a small collection of Agents and Brokers. If you haven't considered property in the Clare/Gladwin Area, give Sonya a call or shoot her an e-mail and she can give you all the reasons you ought to take a closer look.

North Branch Au Sable River

If you're looking for good wading water to give that fly rod a workout, you'll want to visit the North Branch Au Sable River. With over twenty river miles of "flies only" trout water, you'll discover endless stretches of riffles and pools. The scenery is pristine and the fishing can be hot! This is a fly rodder's dream come true.

        "Bring your waders!" 

The fishing is not the only thing that's hot. Check out this delightful three bedroom river retreat on the upper North Branch. Located  adjacent to a superb stretch of gravel bottom in the historic Lovells area, the hatches are prolific and the setting is worth a million! Visit the cabin at our website for more details and contact Bear to arrange for your guided tour.

Cook Trail / Offered at $259,000
See more North Branch Au Sable properties.

Mark Bear, Home Waters Realtor - Call Direct 989-889-5037

4237 Grant, Wixom Lake Dock Space!

4237 Grant, Beaverton $45,900

What a super affordable way to enjoy Wixom Lake! The only neighborhood on Wixom Lake that allows for dock space for off water cottages. Own your own slice of the lake with this 2 BR, 1 full bath cottage with open kitchen and living room and sun room. Being sold as a turn key cottage, mostly furnished and with kitchen items and linens. Laundry hook ups availalbe, 2 car carport, and large shady yard. Association frontage offers a seawall, boardwalk and scenic picnic area on a beautiful part of all sports Wixom Lake for low $225/year dues.

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Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.

Parcel F - Canadea Acres Hunt Club, Lake, MI

PARCEL F US 10 LAKE, MICHIGAN $29,900

12.74 acres in Canadea Acres provides a 1/22 shared interest in approximately 240 acres of wooded land for recreational purposes such as hunting, walking, orv riding, etc. Offers access to Chippewa River. Extensive trail system throughout the association acreage! Also near Eight Point Lake. Enjoy up north in a private, wooded area! Easy land contract terms available!

Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.

4123 Lakeside Beaverton, Michigan 48612

Nestled among the trees and framed by beautiful landscaping this 890 sq ft, 1 BR, 1 BA home is such a treasure! Wrought iron gated entrance leads you to a courtyard full of beautiful plantings. Home shows like the pages of Home & Garden magazine with its cheerful colors and warm paint tones. Entrance foyer with large closet, living room with wood burning fireplace and tile hearth. Dining area with vaulted ceilings and sliding door to outdoor patio and covered pergola. Spacious, well equipped kitchen has a large eating bar and stained glass window. 11x13 master bedroom and remodeled 3/4 bath complete the home. The fenced backyard is a lush and peaceful secret oasis with many plantings completing the landscape. What a wonderful place to create memories as your home away from home or perfect for year round living as well. Room to expand home if necessary. Storage shed. Wixom Lake directly across the street!

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Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.

New Listing - 248 Clendening, Gladwin, MI

248 Clendening Rd Gladwin Michigan $149,000

3 Bedroom, 3 full bath home with 2,880 sq feet in one of the most desirable neighborhoods within the city of Gladwin. Home was built in 1998 with recent updates such as a kitchen remodel, new central air & hot water heater. Well equipped kitchen w/ functional layout, eating bar, under cabinet lighting & large dining area. Living room w/ natural wood burning fireplace, custom built-in cabinets & picture window overlooking wooded park-like back yard. Hardwood floors in sun room with sliding door to extensive multi-level decking...this room would make a great office as well! Master bedroom suite has fireplace & luxurious bath w/ garden tub & separate 2 headed shower. Lower level offers an extra large family room that can accommodate multiple uses such as tv/game area, space for pool table, & office space. Lower level also offers a 15x19 bedroom with 3 closets & full bath. Custom media room with stadium seating & sound system. Oak trim and Anderson windows throughout home.

back yard dining room kitchen livingroom w/fireplace

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Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.

Foreclosure Listings in Beaverton, Michigan

This post is an update to a series I publish weekly on available foreclosure listings in the Beaverton, Michigan area. I also post a series on foreclosure listings that are currently available in Gladwin and Harrison, Michigan as well.

You may find it helpful to check out all my foreclosure listing blog posts as they are updated weekly!

I will start with a summary of important information to know and consider before beginning the process of searching for foreclosure listings (bank owned and HUD properties).

Definition of foreclosure according to wikipedia is:

The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien". If the promissory note was made with a recourse clause then if the sale does not bring enough to pay the existing balance of principal and fees the mortgagee can file a claim for a deficiency judgement.

You may hear a Foreclosure sale called an REO or Repo...these are all synonyms for a house that has been foreclosed upon and is now bank owned.

Definition of HUD property

When someone with an FHA Insured mortgage defaults on the loan, the lender forecloses on the home; FHA pays the lender what is owed; and then HUD takes ownership of the home. In Michigan and other states HUD turns over the property to Michaelson, Connor and Boul Inc. (MCB) a Marketing and Management contractor for HUD. MCB maintains and sells these properties in accordance with HUD guidelines.

A great resource for answers to frequently asked questions about searching for, viewing, and the buying process of HUD homes is available at the FAQ page on mcbreo.com. Click here to view it!

1. The first step in buying any foreclosure listing or HUD home is to determine if you have the cash available or if you can qualify for some type of financing. When submitting an offer to purchase a foreclosed property most banks or government agencies will not even consider your offer unless it is accompanied by a letter of pre-approval from a lender or a proof of funds letter showing the availability of your cash. This step cannot be skipped and I cannot stress the importance of getting this in order before searching for available homes.

2. Find a local real estate agent familiar with the area you are looking in. Real estate is local and an out of town agent may not be fully aware of the intricacies of selling real estate in that specific area or know about certain things happening locally that may affect your decision to purchase in that area or buy that specific home. I am an Accredited Buyers Agent (ABR) fully qualified to represent buyers in the Gladwin, Michigan area and the surrounding communities of Beaverton, Harrison, Clare and Hope. I have extensive knowledge of the local real estate market and am very experienced in the sale of foreclosure listings. 60% of my business so far this year has come from the sale of foreclosed listings or HUD homes.

3. Buying a Foreclosure Listing or HUD property is not like buying from an individual. Almost all foreclosure listings or HUD properties are sold as-is, where-is, meaning that you will be buying the property in its present condition and no repairs will be made by the owner. Typically the house is priced according to its fair market value taking into account its condition. This does not mean that you should not do an inspection! As a matter of fact that is one of the most important steps...this will ensure you are fully aware of the condition of the home you are going to purchase and determine if you want to or can repair the home.

There will be additional paperwork involved in making an offer to purchase a bank owned/foreclosure listing. Banks typically have an addendum to the purchase agreement, as-is statement, and other documents that must be reviewed and signed and either sent along with the offer to purchase or signed after acceptance of your offer. The complexity and length of these documents is another reason why it is so important to choose an agent familiar with selling foreclosure listings. Your agent will guide you through the process, answering your questions along the way.

Banks work on their time line not yours and do only what is in their best interest. For the bank selling the property it is all about the bottom line. They will decide if your offer makes financial sense based on the local market, the value of the property and your method of payment. They will respond when they can (and do try to do so in a timely manner) but they do not have to respond at all if they do not like the offer. Banks can review multiple offers to purchase a property at one time and in this case usually require the highest and best offer from all parties who are interested in purchasing.

Remember foreclosure listings are vacant and immediate occupancy is given which can speed up the process of moving in!

Below is the list of foreclosure listings for sale in Gladwin, Michigan in the Clare/Gladwin Board of Realtors MLS and links to the HUD properties and Fannie Mae (Home Path) properties in the Gladwin, Michigan. I strongly advise that you contact me to check the properties availability as foreclosure listing and HUD properties are priced to sell in 90 days or less. The Gladwin, Michigan market has an average of 7.5 months to sell a property so when a bank decides on a list price to sell the property in 90 days or less they are priced well below market value and tend to sell quickly.

Available HUD properties in Beaverton, Michigan.

There are no HUD properties in Beaverton, Michigan this week. Check back for an updated list next week.

To view the foreclosure listings in the MLS, click the link here that will take you to my website, hit "Search the Clare/Gladwin MLS" on the menu bar and follow the prompt to get into the MLS. Click "Search By MLS Number" and type in any or all of the MLS numbers listed below for more information and pictures.

1145 NORWAY ST BEAVERTON MICHIGAN MLS # 152491

1920 LONG RD, BEAVERTON MICHIGAN MLS # 153319

1091 OAKWOOD BEAVERTON MICHIGAN MLS # 15231

Available Fannie Mae (Home Path) Listings in Beaverton, Michigan

4223 LAKE DR, BEAVERTON MICHIGAN

1920 LONG RD, BEAVERTON MICHIGAN

My job as your Realtor is to guide you through the process of buying a foreclosure listing or HUD property and to answer your questions with my experience, patience and understanding. Buying a foreclosure listing or HUD property is a big deal, exciting, and could be a great way to invest or buy your first home!

I do offer a service to my clients that automatically emails you new listings that come on the market meeting your specific criteria. This eliminates the need for you to spend endless hours online sifting thru the current inventory. It also notifies you the day it comes on the market so you don't miss a great opportunity! Send an email or contact me by phone or text and tell me what you are looking for! I will set up the notification for you.

Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.