explanation of sellers concessions - Redford real estate

So you are you buying a piece of Redford real estate and you need an explanation of sellers concessions mean?
If you are a Redford home buyer and you don't have the enough money to buy a home. Sure you have the 3 1/2% that FHA requires, but you don't have much more. And you can't get more from any family members. So what do you do? You want to buy a Redford home but you don't have the money. Yes you can still buy the home.
The way it is done is by asking for sellers concessions. The explanation of seller's concessions is when the seller pays for your closing costs. On a FHA loan you can get up to 6% of the purchase price to pay for closing costs. So if you are buying a $100,000 Redford home you can get 6% of $100,000. That is $100,000 x .06 = $6000.

But you have to remember when you ask for sellers concessions it is coming out of the seller's bottom line. So if you offer $100,000 on that Redford bungalow the seller is only going to get $94,000 because he is giving you $6000. So take this home buyer tip and use it well. If you know there are multiple bids on a house take into account the sellers concessions you are asking for.
The bottom line is: If you only have the down payment for the house you can buy a home. All you have to do is have your Real estate agent ask for seller's concessions.
I hope this explanation of seller's concessions helped you. If you are a metro Detroit first time home buyer and don't understand a part of the home buying process always feel free to call me on my cell phone (313) 310-9855 or email me yesmyrealtor@gmail.com.
 

Farmington Hills real estate

Here is a quick glimpse of what is happening with Farmington Hills real estate and more specifically Farmington Hills Condos. This just shows how many are for sale in the different price ranges and how long they have been on the market. These are the Farmington Hills condos that are currently for sale. You see there are quite a few condos that are priced under $60,000.

This year I have helped quite a few young people get into condos. I had a couple of buyers that bought condos for cash. They are going to live in these condos and have a lower payment than they can rent for. And they own the place.

Some of these condos my clients have bought were very nice. Move in ready, freshly painted. Quiet condo associations. I have helped clients buy stand alone ranch condos for $75 a square a foot that were spacious, newer, move in ready, and in a gated complex. I have seen 2500 square foot condos for under $150,000. There are lots of good condo deals out there..... and still quite a few good home deals.

Farminton Hill Condo Price Statistics


Price Range Number of Listings
0 to 20,000 1 590 days on market
20,001 to 40,000 16 203 days on market
40,001 to 60,000 24 164 days on market
60,001 to 80,000 17 230 days on market
80,001 to 100,000 11 338 days on market
100,001 to 120,000 16 230 days on market
120,001 to 140,000 19 231 days on market
140,001 to 160,000 14 205 days on market
160,001 to 180,000 16 151 days on market
180,001 to 200,000 6 137 days on market
200,001 to 220,000 2 465 days on market
220,001 to 240,000 2 428 days on market
240,001 to 260,000 5 193 days on market
260,001 to 280,000 2 265 days on market
280,001 to 300,000 2 85 days on market
300,001 to 320,000 1 805 days on market
320,001 to 340,000 0 0
340,001 to 360,000 2 146 days on market
360,001 to 380,000 2 140 days on market
380,001 to 390,000 1 974 days on market

For the 159 listings: Average List Price $124,420.00
Median List Price $112,000.00
Highest List Price $390,000.00
Lowest List Price $20,000.00
List Volume $19,782,780.00
Avg. Days On Market 222


If you have any questions or would like to get started looking for your own home give me a call. I will be glad to sit down and go over your goals.

 

Livonia real estate update

Here is what is happening in the Livonia real estate market in the last 30 days. There have been 48 Livonia homes that sold under $110,000 in the last 30 days. It is kind of amazing that there are so many homes in that price range. A few years back you couldn't find a home in Livonia for under $140,000.


For the 99 Livonia listings:
Average List Price
$126,863.00

Average Sold Price
$118,468.00

Highest List Price
$469,900.00

Highest Sold Price
$360,000.00

Lowest List Price
$18,900.00

Lowest Sold Price
$15,000.00

Sales Volume
$11,728,290.00

Avg. Days On Market
115

Livonia real estate is selling. The time on the market is less than 4 months right now. What is interesting is that there is only one home that sold over $350,000. This market is redefining which cities are holding up in the higher end price ranges.

I would say that any home for sale in the Livonia real estate market over $350,000 range is going to be on the market longer and more likely to be open to negotiation.

If you have any questions or looking to buy in Livonia Michigan give me a call or email me.

Russ Ravary your Livonia Realtor

Search Livonia foreclosures and Livonia listings and get the latest deals emailed to you so you don't miss out on the great deals.

Windridge Subdivision Novi MI

Novi Mi Real Estate
Relocating to Michigan? Whether you have a Michigan relocation in your future or just moving within Michigan this will give you a feel about home prices in Windridge Subdivision Novi. Feel free to call me with any questions or email with any questions Novi MI Homes for sale.

There are no Novi homes currently for sale in Windridge Subdivision as of 2/3/2009. And there have been no homes sold in the subdivision in the last 6 months.

Here is more indepth Windridge Place subdivision info, including home styles, average size of homes, exteriors, street names, association info

Here is the latest Novi Real estate market update for Windridge Place Subdivision Neighborhood as of August 20, 2008.There is 1 Novi home for sale currently in the sub. The average list price is $N/A and on the average has been on the market for 98 days.
On-Market Residential
Price-Address-Bed-Bath
$440,000-2416 WINDRIDGE LN-4-2.1

IF YOU OR ONE OF YOUR FRIENDS, OR CHILDREN WOULD LIKE TO SEE ONE OF THESE LOVELY NOVI HOMES FOR SALE OR GET MORE INFORMATION ON ANY OF THESE MICHIGAN HOMES FOR SALE EMAIL ME AT INFO@RUSSRAVARY.COM OR CALL ME ON MY CELL AT 313-310-9855.

Here are all the Novi homes that have sold in Windridge Place, Novi, MI in the last year as of 8/20/2008
Off-Market Residential
Status-Price-Address-Bed-Bath-OffMktDt
SOLD-$525,000-45920 ASHFORD CIR-4-4.1-10/30/2007

1 Novi home has sold in Windridge Place Subdivision in the last year with an average price of $n/a after being on the market an average of 53 days.

In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Metro Detroit area with my Search Novi Homes for sale VIP club. Search listings for free and get the lastest bargain foreclosures emailed to you when they hit the martket.

Comp and listing information courtesy of RealComp II. Properties shown have been listed and sold by various MLS member REALTOR® agents

Willowbrook subdivision Novi MI

Novi Subdivisions
Willowbrook Estates
Novi Mi Real Estate
Relocating to Michigan? Whether you have a Michigan relocation in your future or just moving within Michigan this will give you a feel about home prices in Willowbrook Estates Subdivision Novi. Feel free to call me with any questions or email with any questions

Novi MI Homes for saleThere are 16 Novi homes for sale currently in Willowbrook Estates as of 2/3/2009. The average time on the market is 132 days and the average list price is $152,619.
Willowbrook Estate homes for sale
Price-Address-Bed-Bath-Sq Ft
$1,700 FOR LEASE-2380 RIPPLE CRK-4-2.1-2230
$83,900-4107 MALOTT-3-2-1219
$94,900-2443 MILLSTREAM-2-2.1-1561
$100,000-2388 W LE BOST-3-1.1-1500
$125,000-4057 ROCK HILL ST-3-1.1-1275
$125,000-2397 W LE BOST-3-1-1104
$144,000-4108 W 10 MILE RD-3-1-1368
$144,900-2341 MEADOWBROOK RD-3-1-1168
$149,500-4104 HOLLYDALE-3-1.1-1440
$150,000-2380 MEADOWBROOK RD-3-2-1428
$160,000-4092 MALOTT-3-1.1-1961
$169,900-4100 HOLLYDALE-3-2-1675
$175,000-2401 GLEN RIDGE CT-3-2-1704
$175,000-2312 W LE BOST-3-2-1168
$189,900-2392 E LE BOST-4-2-1315
$205,000-2321 W LE BOST-3-1.1-1312
$249,900-2380 RIPPLE CREEK-3-1.1-2230

There has been 2 homes leased in the last six months in Willowbrook Estates and 2 homes that have been sold. The average time on the market for the sold homes was 140 days and the average sold price is $238,450.
Recent sold Novi Homes
Status-Price-Address-Bed-Bath-OffMktDt-Sq Ft
LEASED-$1,000-41024 MOORINGSIDE-3-1-11/11/2008-1392
LEASED-$1,350-41152 HOLLYDALE-3-2-8/10/2008-1312
SOLD-$159,900-23103 W LE BOST-3-1.1-7/3/2008-1329
PEND-$185,000-23392 W LE BOST-3-1.1-1/28/2009-1312
SOLD-$317,000-41267 SCARBOROUGH LN-4-2.1-8/5/2008-2602

Here is more indepth Willowbrook Estates subdivision info, including home styles, average size of homes, exteriors, street names, association info

I hope this help you Russ Ravary your local Novi Realtor


In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Metro Detroit area with my Search Novi Homes for sale VIP club. Search listings for free adn get the lastest bargain foreclosures emailed to you when they hit the martket.

Comp and listing information courtesy of RealComp II. Properties shown have been listed and sold by various MLS member REALTOR® agents

Whispering Meadows subdivision Novi MI

Novi Subdivisions
Novi Mi Real Estate
Relocating to Michigan? Whether you have a Michigan relocation in your future or just moving within Michigan this will give you a feel about home prices in Whispering Meadows Subdivision Novi. Feel free to call me with any questions or email with any questions

Novi MI Homes for saleThere are 3 Novi homes for sale currently in Whispering Meadows as of 2/3/2009. They have been on the market and average of 163 days and the average list price is $242,333.

Whispering Meadows homes for salePrice-Address-Bed-Bath-Sq Ft
$200,000-2203 SUNFLOWER RD-3-2-1626
$262,000-2181 ARBOR LN-4-2.1-1970
$265,000-2167 CLOVER LN-4-2.1-2298

There has only been one Whispering Meadows subdivision Novi home that has sold in the last 6 months. The house was only on the market for 19 days.
Recent sold Novi homesPrice-Address-Bed-Bath-OffMktDt-Sq Ft
$1,300 for lease-21995 CLOVER LN-3-2.1-10/23/2008-1855
$1,850 for lease-22010 ARBOR LN-4-1.1-7/10/2008-1858
$251,000-21751 SHADYBROOK-4-2.1-9/10/2008-2254


In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Metro Detroit area with my Search Novi Homes for sale VIP club. Search listings for free adn get the lastest bargain foreclosures emailed to you when they hit the martket.

Comp and listing information courtesy of RealComp II. Properties shown have been listed and sold by various MLS member REALTOR® agents

Simmons Orchards Novi MI

Novi Subdivisions
Novi Mi Real Estate,
Relocating to Michigan? Whether you have a Michigan relocation in your future or just moving within Michigan this will give you a feel about home prices in Simmons Orchard Subdivision Novi. Feel free to call me with any questions or email with any questions

Novi MI Homes for saleThere were 7 Novi homes in Simmons Orchard that are for sale as of 2/3/09 and 2 that are for lease. The average time on the market was 117 days and the average list price is $202,028.

Price-Address-Bed-Bath-Sq Ft
$1,700 for lease-2452 FAIRWAY HILLS DR-3-2.1-2100
$1,800 for lease-2474 FAIRWAY HILLS DR-3-2.1-1930
$186,000-4572 CIDER MILL RD-4-2.1-1820
$188,499-2463 SIMMONS DR-3-2.1-1821
$189,900-2462 FAIRWAY HILLS DR-3-1.1-1520
$199,900-2440 BONNIE BROOK DR-3-2-1400
$200,000-2451 SIMMONS DR-3-2.1-1625
$209,900-2443 SIMMONS DR-3-1.1-1496
$240,000-2454 RIVERVIEW LN-3-2.1-1899

In the last six months 2 homes have been leased in Simmons Orchard and 5 homes have been sold. The average time on the market is 168 day and the average sold price is $192,725.
Recent Novi Sold homesStatus-Price-Address-Bed-Bath-OffMktDt-Sq Ft
Leased-$1,050-24395 SURFSIDE RD-3-1-10/11/2008-1250
Leased-$1,300-24371 SURFSIDE RD-3-1.1-8/7/2008-1428
SOLD-$144,900-24411 FAIRWAY HILLS DR-3-2-7/30/2008-1250
SOLD-$163,000-24475 SURFSIDE RD-3-2-9/19/2008-1375
PEND-$199,900-45738 CIDER MILL RD-3-2-1/9/2009-1650
SOLD-$220,000-24597 FAIRWAY HILLS DR-3-2.1-11/17/2008-2005
SOLD-$243,000-24307 SIMMONS DR-3-2.1-7/8/2008-1850

Here is more indepth Simmons Orchard Park subdivision info, including home styles, average size of homes, exteriors, street names, association info

In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Metro Detroit area with my Search Novi Homes for sale VIP club. Search listings for free and get the latest bargain foreclosures emailed to you when they hit the market.

Comp and listing information courtesy of RealComp II. Properties shown have been listed and sold by various MLS member REALTOR® agents