Oakland County and Detroit Thank You
With all of the new dire news occurring daily in Michigan; the sour job market, failing housing market, auto related struggles, the weak economy, and then there is always the relentless winter weather, there are still a few shining stars who care enough to donate their time and efforts to help our area prosper.
One of our local heroes is Bob Ritchy, ‘Kid Rock’ of Clarkston, Michigan. Recently, he brought notoriety to our area with the Food Channel camera crews in down town Clarkston, visiting local establishments like The Clarkston Woodshed and The Union Restaurants. He donates his time and money to local charities in Oakland County, Mi; recently helping with the development of the Water Spray Park For Children at Clintonville Park in Clarkston, Mi.
Kid Rock’s May 12, 2012 concert with the Detroit Symphony Orchestra is a fund raiser which aims to raise $1 million for the Detroit Symphony Orchestra. This is an incredible effort to help our local DSO. Kid Rock will team up with them and his own band for the performance. Kid Rock said, “ As a musician and of course Detroiter, I am proud to be supporting this long standing cultural institution.”
Thank you Brian Elias, also, owner of Hansons Windows, for helping The Pilgrim Presbyterian Church, built in 1887 in Detroit, Michigan. The church helps feed, clothe and shelter the homeless from the streets of Detroit. Brian Elias heard the call from Mitch Album on WJR and is installing $100,000 dollars worth of new windows and doing much needed roof repair for the church, whose motto is, “I Am My Brother’s Keeper.”
Thank you both for your generosity!
Karen Moreen
Call (248) 622- 9498
Oakland County Real Estate
FHA Rehab Loan
FHA203 K Loan, For Rehab On Foreclosures
Many of the homes you purchase today in Oakland County Michigan are missing the main workings of the home. These homes can’t be mortgaged conventionally as in the past because they aren’t livable. The furnaces, plumbing, kitchens, granite, doors, copper, appliances, and some are even missing the wood from the floors.
When the foreclosed family leaves the home, they are very mad about the eviction and leave the home in a sad condition. Some of these properties have been flooded because the power was shut off and the sump pumps aren’t working to pump out water from basements. People are interested in these properties because they are usually in nice areas with very good schools, for a good price. The problem is how to pay for it?
You have to either pay cash or do a FHA rehab loan similar to a new construction loan. Not all banks will do a FHA rehab loan. To bid on one of these homes you need to have a preapproval for the FHA203k to start the process, and the bank wants to see a 650 credit score for this loan and you only need to put 3.5 percent down on the mortgage. You may need this to be your primary residence.
You need to have a general contractor , and workers lined up before you present the work bids to the bank, in the first week or so of the process. The workers need to know there will be draws, and they won’t get full pay till the work is complete.
None of the work can start till the home closes. A FHA rehab loan usually close in 40 days. This is a wonderful way to purchase a home with little down, and include the updates into the mortgage.
Contact me for FHA Rehab Loan information.
Karen Moreen
Call (248) 622- 9498
Clarkston Real Estate
Morgan & Milzow Realtors
Core Value System
Win-Win or No Deal
Integrity: Do the right thing
Customers: Always come first
Commitment: In all things
Communication: Seek first to understand
Creativity: Ideas before results
Teamwork: Together everyone achieves more
Trust: Starts with honesty
Success: Results through people
A belief system guides the way Morgan& Milzow associates treat each other and their customers. Our goal is for our clients at KW to have a positive experience.
Morgan & Milzow Realtors
Karen Moreen
Call (248) 622- 9498
Clarkston Real Estate
Clarkston, Mi Real Estate- A Rip Roaring Market!
You are the first to see a home just listed and decide that it is an incredible deal. You follow the usual steps, write the offer based on the neighborhood sold and based on the condition of the home: quickly get the offer in just to find out there are other bids. It is unbelievable how quickly you get into a bidding war. Then before you know it, the listing agent is asking for highest and best offer. What a whirlwind trying to inform first time buyers of the process. A lot of these well priced homes are foreclosures, they are missing the kitchen cabinets, showers, toilets, medicine cabinets, walls, doors, ect.
These homes, with missing fixtures, will probably be going for cash or a fix up loan such as a FHA 203k.. Some of the government backed loans [Freddie- Fannies] will only sell to owner occupants in the first 15 days of the listing period, then investors can bid after the 15 days. So that is a really good thing for folks who need a home to live in, to get a bid on a home like this. HURRY HURRY!
Tempers flare with so much emotion in this incredible housing market, with lower interest rates, even as low as 4%. What a early spring market in Real Estate in Oakland County Mi! The homes are getting harder to find , and they are pending as soon as they are listed [if priced right.]
Karen Moreen
Call (248) 622- 9498
Clarkston, Mi Real Estate
Oakland County Homes Are Selling Very Quickly…
If They Are Priced Right. Nearly all the lower priced homes are gone here in Clarkston, Independence Township, Springfield Township, and The Village of Clarkston, Michigan. West Bloomfield, Commerce, White Lake Township, lower priced homes are very hot. There are many more wonderful less expensive homes in Waterford, and some even have lake access. Those listings are selling so quick if they are not stripped and have a kitchen and full bath.
Hard to believe a lot of homes are missing the kitchen cabinets so the homes won’t be mortgageable, except by the 204 k mortgage or cash. The FHA loan is a great option for first time buyers with less than 20% monies down or less of a credit score.
It is very hard to let first time buyers know how quick they need to act. What a wonderful time for investors, ‘Real Estate is a much better investment than the 401 ks!!’
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Karen Moreen
Call (248) 622- 9498
Oakland County Homes
Clarkston, MI Images
Welcome to Clarkston, Mi. To see images, click on title.
Karen Moreen
Call (248) 622- 9498
Clarkston, Mi Realtor
Short Sales In Oakland County
Short Sales here in Oakland County Mi will have a very good chance of closing here, at Morgan & Milzow Realtors of Clarkston Mi.
At Morgan & Milzow Realtors, we have counselors that will handle the transaction. We have a 95% close rate. We have attorneys to handle all your worries so you can move on with your life. Don’t let your home go into foreclosure and ruin your credit for many years.
With today’s reduced property values and increased unemployment, it’s tempting for some home owners to just throw their hands up in defeat, allow the bank to take your home in foreclosure and rid them selves of the monthly mortgage burden.
Few borrowers will ever be able to handle this on their own, all the calls and paperwork; you definitely need an attorney and a realtor to help you with this.
There are many benefits of a short sale and typically outweigh the ease of walking away in a foreclosure. Your credit will not be as bruised as in foreclosure; our attorneys can advise you on this.
In a short sale, the bank agrees to take a lesser amount for the home than what is owed on a loan, lenders sometimes are willing to write off the deficiency.
Let’s meet and discuss your options. I am always looking for homes to market.
Karen Moreen
Call (248) 622- 9498
Clarkston, Mi Realtor
Welcome To Clarkston, MI
We are enjoying a terrific winter with, so far, temps above 30 degrees. It has been nice to take a stroll look in the windows of downtown and not be freezing. Wearing a light jacket is all we have needed this early January. Let’s pray for more of this weather.
The homes are selling with higher prices this January 2012, and so quick. We can’t even get the pictures on the MLS and videos before they are pending. Now is the time to sell!!!
I am really looking for listings to market and hold open for our big open house weekend. Anyone interested keep me in mind.
Clarkston is a very special place to live with a high quality of life. We have very good schools, and such a nice public library on Clarkston road. We love our restaurants downtown, The Union, and the Clarkston Woodshop, voted#1 restaurant and so many unique stores. You never know who you will see there. They are such gathering places.
We don’t have the traffic jams like Rochester and Lake Orion, and we are minutes from shopping and skiing, concerts, golf, and many county parks and metro parks. When you come up I-75 and get off at Main, you can take a deep breath and relax. You are here. Clarkston Mi.
Karen Moreen
Call (248) 622- 9498
Clarkston, Mi Realtor