Roger Simon - Blog

Existing Home Sales Rise 8.4% in November in the Midwest!

Roger Simon — Wed, 23 Dec 2009 09:04:44 GMT

As reported by RISMEDIA, existing home sales rose by 7.4% in November nationwide and 8.4% locally! Approximately 51% of sales were first time home buyers, trying to take advantage of the first time home buyer tax credit, which was due to expire November 30, 2009. Inventories continue to decline, as buyers take advantage of low interest rates which, on average fell to 4.88% in November, according to National Association of Realtors President, Vicki Cox Golder. "Conditions are optimal for buyers in the current market" she said. "it really doesn't get any better for buyers with secure jobs and long term ownership plans". With the new expanded tax credit for most buyers, 2010 could see a lot more competition for good properties in the new year

New Foreclosure Wave--- Buyers Be Ready!

Roger Simon — Wed, 16 Dec 2009 09:59:42 GMT

Experts predict a new wave of foreclosed properties will hit the market in early 2010. Adjustable rate mortgages that have "reset" their interest rates at a higher rate and thus, in some cases,doubled the home owner's payment, are expected to flood the market. They will provide buyers with another pool of "bargains" to pick from says Alan Kendall, economic expert using data provided by Credit Suisse Bank. With mortgage money available at all-time lows and low or no down payment required, it may be time for buyers to purchase the 'Home of their Dreams" for their families. Buyers should prepare by getting a mortgage "pre-approval" letter from their favorite lender and repair any negative credit "blips" that the pre-approval process discloses. Then they will be ready to take advantage of the outstanding buying opportunities that become available.

Affordable Montague Michigan Vacation Homes

Roger Simon — Wed, 29 Apr 2009 13:25:42 GMT

The May 2009 issue of Money Magazine listed Montague Michigan as one of the most affordable places in the United States to buy a vacation home. $104,000 was listed as the average price of homes in Montague. The deep water access to Lake Michigan from White Lake is popular with boaters, sailors and fisherman. Canoeists enjoy the pleasures of floating down White River on summer and fall days. Vacation homes are available and affordable, especially since the recent decline in prices, and a short drive from the major cities of Chicago, Detroit, Grand Rapids and Ann Arbor.

Has Local Real Estate Hit Bottom?

Roger Simon — Wed, 29 Apr 2009 13:15:35 GMT

All I know is that local buyers and investors are thinking it has! Multiple offers on choice and bargain properties are not uncommon. Bargains in the $30,000 to $50,000 range are getting snapped up as buyers and investors don't want to miss out on great deals and the first time buyer stimulus of up to $8000. Incredibly low interest rates under 5% coupled with low prices are making real estate ownership the most affordable it has been in over 40 years. Zero down payment financing is available for qualified first time home buyers, exploding the myth of the lack of money availability. The May 2009 issue of Money Magazine listed Montague as one of the most affordable places to buy a vacation home in the U.S. Local real estate websites are reporting record numbers of "hits" as buyers go "online" to preview homes and look for bargains. Investors are finding that the bargain prices are perfect to aquire more rental properties.