June Market Report - Michigan

The June market followed what we had expected, slowing from the peak activity levels prior to the tax credit expiration. The good news is that our slowdown has been less than most of the other markets across the nation. Available home (listing) inventories continue to fall which will help to stabilize value declines. The months supply of inventory for the metro area remains at a two year low of under six months (compared to the high in Nov. of 08' of over 14 months), still a Buyer's market, but moving in the right direction.

Clarkston Market Report

8663 Fish Lake Road, Holly MI 48442

Rare find for those buyers seeking a home with acreage and ample living spaces, 5 bedrooms and 4 full Baths. This well maintained home is situated on 10 rolling acres with two ponds, a large screened gazebo, shed and pole barn. Just Listed at $275,000    

Pearson Group expands Real Estate Service to Northeastern Michigan

"The Pearson Group" who have serviced sellers throughout Southeastern Michigan for the past 22 years have expanded their geographic territory to include the Northeastern section of the state. When asked their primary objective for helping homeowners throughout Michigan, Kay stated it was recent discussions with her northern neighbors that led her to the decision.

Helping Hardest Hit Homeowners in Michigan

Michigan is the First of Five states to start the process of administering 154.5 Million dollars to Homeowners who quality for relief under the new program, " Hardest Hit Fund".    The program plans to help 17,000 households in Michigan.  Many homeowners ended their day with much frustration as the phone system in Lansing was reported &q

Pearson Group acquires "CDPE" Certification

A Certified Distressed Property Expert® is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales.

Pending Home Sales Fell off the Cliff

Although this headline is alarming, we are not certain how much the expiration of the tax credit will impact our local market.  Every price bracket and every township is different.  Yes, we have noticed a decline in the amount of pending or new sales recently but we will have a better understanding of the impact of this incentive to buyers in the next

Homeowner's who walk away from mortgages face penalties

You don't have to be a realtor to know.......    

Treasury launches mortgage help for unemployed

Home Affordable Unemployment Program (HAUP).  
HAUP provides homeowners a forbearance of monthly mortgage payments, either reducing them or suspending them for at least three months. Servicers can extend the timeline depending on regulatory guidelines.  

Tax Credit Deadline Extension Passed Senate! headed to the President. FloodInsurance Too!

After a close brush with the deadline, Congress has passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623) . The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legislation is designed to create a seamless extension the new closing deadline for eligible transactions is now September 30, 2010. There is will be no gap between June 30 and the date the President signs the bill into law.