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Archive for the ‘selling southeast michigan’ Category

This is a common question I get when a person is considering selling their Oakland County MI home. First let me explain that most everything is negotiable; the purpose of this post is to address what is customary for the Oakland County and Lapeer County areas.

Costs to the seller:

  • commission (I normally charge 6%, 10% on vacant land)
  • transfer tax (.75%)
  • revenue stamps ($1.10 per $1000)
  • title insurance (depends on the sale price)
  • $295 file retention fee (amount varies with different companies)
  • misc. costs such as wiring fees, recording fees and I usually estimate on the high side at $500 but is probably closer to $100 on most transaction

If you currently have a mortgage on the house that will have to be paid out of your proceeds. Taxes are usually prorated to the date of closing and if you are current on your taxes you will probably get some back. Homeowner association dues is usually prorated to the date of closing. Water and sewer bill (if applicable) are paid at closing.

If there is possession $200 or $300 is usually escrowed at closing to cover any water/sewer charges for the time you live in the house as a tenant after closing. You will normally pay the new owner’s house payment for the time you stay after closing. So you agree on 45 days possession after closing, we will typically escrow 45 days of the new owner’s mortgage and you pay for the days you stay.

These costs are for a normal sale- not short sale or land contract sale.

For more information about selling your Oakland County or Lapeer County MI home please don’t hesitate to contact me.

Jackie Hawley, Realtor
ReMax Encore
Jackie@JackieHawley.com

Cell: (248) 736-6407

www.MiRelocation.com

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If you tried to sell your Lapeer County Lake house last year with no success, AND you were a fairly high priced listing, do not despair. It was not your house- it was the market.

In 2014 there were only 4 lakefront sales over $600,000 and all 4 were on acreage. 2 of those were on major acreage with private lakes- 40 acre and 90 acre parcels. And by private lake I mean their own private lake. The other 2 were a house and 9 acres on Lake Metamora and a house on 5 acres on Lake Lapeer.

Only 2 houses sold in the $400,000’s- both on Lake Lapeer.

This is better than 2013 when the price of lake houses in Lapeer County topped out at $477,500.

So far in 2015 there has been 1 sold on Lake Lapeer for just under $400,000 and 2 pending at just under $400,000 and in the mid $500,000’s.

The rise in prices is due to an improving economy, low interest rates and the lack of distressed properties (foreclosures and short sales). The distressed sales dropped to 11% of the total lake sales in 2014 from 19% in 2013. In 2010 distressed sales made up 49% of total lakefront sales in Lapeer County.

For more detailed information about specific lakes, please go to www.Lapeer-Homes-For-Sale.com and click on the appropriate link. Or LapeerLakes.MiRelocation.com – no w’s.

Lake Nepessing

Lake Lapeer

Lake Metamora

www.MiRelocation.com

My YouTube Channel: www.JackieHawleyRealtor.com

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Customer Service…. What doe is mean to you?

I have been selling real estate for a touch over 23 years and it still amazes me sometimes how little effort other “professionals” put into a transaction.

A little background without names or exact location. One of my listings is supposed to close this Friday. The sale was subject to the closing of the buyer’s current house, and that house was supposed to close today. A little after 11 o’clock last night (after I was sawing logs – sleeping) the buyer’s agent sent an email to me, the buyer, and the loan officer letting us know his house wasn’t going to close today. She forwarded an email from the buyer’s agent on that transaction which was a forward of an email from that lender. The initial email was after 7 pm.

The gist of the original email was they weren’t ready to close because they were waiting on an IRS transcript they had expected the previous week. Except the buyer filled the form out wrong and the IRS rejected it. So the loan officer filled out a new one for the buyer to sign and expected the transcript this  morning. Planning on closing next week instead of today.

This so far is about the underlying sale.

BUT the seller, who is the buyer for my listing, was pre-approved to buy without selling. So I hit reply all on the email and asked if our closing was still on for Friday. If the buyer was able to buy without the closing of his house or did he need to go back through underwriting since the conditions changed. The only answer I got was from the buyer asking his lender if that was possible. He was still willing to close on Friday and close on his house next week.

No response.

I follow up 4 or 5 hours later asking if anybody had heard back from the lender. I got an email from the buyer’s agent stating he needed money from the closing on his house to close on ours. I asked if this had been verified by his lender since he was willing to close. And I asked if she had spoken to the lender for the underlying sale (her listing) to confirm they received the IRS transcripts.

No word. The buyer called me directly. He hadn’t heard from anybody either.

Since this is Wednesday night I figure we are not closing Friday and will close after the underlying sale closes. But if nobody gets back to me by tomorrow morning I am going to do what those directly involved seem to have a problem with. I am going to actually pick up the phone and make a call. Maybe the lender on the underlying sale will be surprised enough to hear it ring he might pick it up out of curiosity. That hasn’t worked with the lender on our sale thus far; I think she may have it go directly to voicemail when my number shows up.

What amazes me about this very long story. The buyer’s agent on the underlying sale was upset because their loan officer had told the buyer they were clear to close on Mon. The agent didn’t verify himself. Neither agent actually communicated with that loan officer to verify the buyer was clear to close. The lender on that sale sent a form to the IRS without making sure it was filled out properly. The listing agent on that sale (aka buyer’s agent on my sale) didn’t pick up the phone and call the loan officer to make sure they actually received the transcript today as anticipated. Just assumed they got it. She never picked up the phone and called the loan officer on our sale to find out if we could still close Friday as scheduled. Never picked up the phone and updated her buyer/seller. The loan officer on the underlying sale notified everybody last night after 7 o’clock. Well after business hours. And via email.

What is the aversion to actually calling people involved in a six figure transaction? Short, vague emails and text messages with little detail and no verifications of any facts. Is this what passes for customer service these days?

For real service, whether buying or selling your home or vacant land, please don’t hesitate to call (or email if you prefer) Jackie Hawley at ReMax Encore. I’m old enough to know what customer service is, and still young enough to be tech savvy.

Why List With Jackie

Marketing Your Home

Jackie Hawley, Realtor
ReMax Encore
Jackie@JackieHawley.com
(248)736-6407

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Why it’s best to close on your Oakland County home as soon as the buyer gets loan approval

There are many reasons to close immediately after the loan is approved and the buyer is clear to close. Even if that happens 3 or 4 weeks prior to the close by date.

  • Seller can die
  • Buyer can die
  • Buyer can lose his/her job
  • Buyer can run up a credit card and no longer qualify
  • Buyer can get a job transfer
  • Buyer can break up with or divorce co-buyer

All of the above have happened in transactions I’ve been involved in (except for the first one).

If it is difficult or impossible for the seller to move a few weeks early, you can always work out something regarding possession. There’s a good chance the buyer’s new house payment is lower than the seller’s current house payment. Prices still haven’t peaked and interest rates are very low.

Jackie Hawley, Realtor, ePro
ReMax Encore

(248)736-6407
Jackie@JackieHawley.com

www.MiRelocation.com

What to expect on the listing appointment

Preparing your home for sale

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Do Oakland County MI Houses Sell in the Winter?

I have been asked this question quite a bit lately. The short answer is yes. Not as many as in the summer- as you can see from the graph below, there’s a big drop in January. This is due mostly to the Christmas holidays. Thanksgiving and New Years affect this, too.

oakland county mi sales

 

 

 

 

 

 

I used last year because it was a full year with mostly non distressed sales, and 2005 which was also a year with few short sales and foreclosures.

If you are thinking about selling, there is really no bad time to list. Buyers buy year ’round. Buyers in the winter tend to be more serious. It is not fun to look at houses with snow up to your butt, so you may have less showings for the same outcome- a sold house. There also tend to be less houses for sale in the winter so the competition is less.

Thinking of Selling?

Call Jackie Hawley, Realtor
ReMax Encore

Cell:(248)736-6407

Jackie@JackieHawley.com

www.MiRelocation.com 

Why List With Jackie

Preparing Your House for Sale

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Why Zillow is a Good Thing

They are well optimized so my listings get good exposure.

And their Zestimates are SOOOOOOO wrong!!

The first is a no brainer. Free exposure with a pretty decent format. My listings are attractively displayed with multiple photos and a good description. I can edit the photos and text, and it allows me to link a virtual tour.

Many agents belly ache that we are giving our listing data over too easily just for Zillow to sell leads to other agents. This is true, but there is nothing I can do about that. Most sellers would not be happy if I excluded Zillow from displaying their listing. And I don’t blame them. So for now I take the free advertising.

Many agents have also been whining lately about the inaccuracy of Zillow’s Zestimates or estimated house values. And they are correct. Most of the estimated home values on Zillow are crap. From my perspective this is a good thing. It bolsters my belief that sellers and buyers still need us. If a computer program can accurately price a home, it greatly reduces the need for real estate agents and appraisers.

So in my mind Zillow is a good thing- further proof for the need of a real estate professional and free advertising on a highly ranked web site.

Thinking of Selling

Thinking of Buying

www.Search-The-MLS.net

Jackie Hawley, Realtor

ReMax Encore

Cell: (248)736-6407

www.MiRelocation.com 

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When High Tech is just an excuse for laziness

This post is NOT a criticism of electronic signatures, Twitter, Facebook… nor of agents who utilize these methods in their real estate business.

This post IS a criticism of agents who criticize those of us who choose NOT to use any of the above in our real estate practice.

I was in a class a couple weeks ago when electronic signatures was brought up. The main (only) reason many agents gave for using e-signatures was it’s easy. Great- if easy is important then do what’s easy. I choose to meet with my clients to discuss offers and counter offers. I choose to actually watch the person penning the signature I’m going to witness. I think there is a reason most banks won’t accept an electronic signature. I also know it wasn’t that long ago that a 14 month old bought a car on eBay with her dad’s smartphone.

Twitter, Facebook and other forms of social media- Again I think the primary motivation for this form of advertising is that it’s easy. And social. If it works for you then fine. I choose to understand SEO, SEM and a sprinkling of good old fashioned print advertising. I choose to maintain 2 highly ranked web sites optimized for key words I researched for potential results. I know that Clarkston MI real estate gets searched more on Google than Clarkston Michigan real estate. I don’t Tweet, I barely ever log onto Facebook. The closest thing to social media advertising I use is blogging.

 

Use whatever works for you. But please don’t criticize those of us who don’t jump on the same so called High Tech bandwagon you did.

Why List Your Home With Jackie

Marketing Your Home

Preparing Your Home for Sale

www.Search-The-MLS.net

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