What are REO's Many times I'm asked by clients, what's an REO or what does REO stand for. REO stands for Real Estate Owned.  It is an industry term, for a bank owned foreclosure. An REO has already gone through the foreclosure process, is owned by the bank and back on the market. Basically REO = Bank Owned Home.                                                      I'm in and out of REO's all the time showing them to clients of mine. I always tell my clients when I'm showing them bank owned properties, that we never know what we're walking into. I've been in some that were very nice, others that needed some minor tlc and some that are downright disgusting. Some have been vandalized, gutted or major items taken. You just never know until you go and check them out. Many times, people are a... 07/16/2008

BUYERS CLOSING COSTS…… THE BASICSMost buyers ask the question early in our relationship, what are my closing costs going to be? Well here is the basic answer. You cost will vary depending on your loan program, seller concessions and differences in how taxes are prorated, etc.I’m licensed in Michigan and taxes are paid differently in different parts of our state so this is specific to my area, southeast Michigan, the metro Detroit area. Your state may be completely different, even in the way transactions are closed. Here, you generally have all parties at the closing and everyone walks away with signed documents, keys and checks, unless you have a bank owned property which means you may wait a day or so for keys and seller signed documents. But this post is about costs, so I wont go any ... 07/03/2008

ST. CLAIR SHORES REAL ESTATE MARKET REPORT - JUNE 2008   If you would like to know what your St. Clair Shores home is worth in today's market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation. The summer selling season continues! I'm happy to report that 56 homes closed in June slightly up from 54 in May and 52 in April.                       ST. CLAIR SHORES MARKET REPORT FOR JUNE - HOMES                                                                                                                                                                                                                   There were 56 home sales that closed in June The average list price was $113,254 The highest list price was $299,900 & the lowest was $29,90... 07/02/2008

EVICTION 101What is the most important thing I tell first time investors when they come to me looking for a rental property?Learn how to get your tenants out of the property! If you are involved in rental property long enough you are going to have to evict someone.I want to preface this post with a disclaimer……I AM NOT AN ATTORNEY AND I CAN NOT PROVIDE LEGAL ADVICE. This is just my personal experience. I live in St Clair Shores Michigan and the law here is almost certainly different than yours in some way.The process here begins with:The Seven Day Notice to Quit. This is a request for the rent within seven days. If not paid the tenant is ordered to vacate. This can be mailed or personally delivered, I mail it. I do get delivery confirmation from the post office just in case and I will p... 06/12/2008

  ST. CLAIR SHORES REAL ESTATE MARKET REPORT - May 2008   If you would like to know what your St. Clair Shores home is worth in today's market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation. The spring selling season continues! I'm happy to report that 54 homes closed in May slightly up from 52 in April.  ST. CLAIR SHORES MARKET REPORT FOR MAY - HOMES                                                        There were 54 home sales that closed in May                                                             The average list price was $112,218 The highest list price was $280,000 & the lowest was $35,000 The average sale price of those 54 transactions was $106,832 The average total days on the market was 227 34 homes went under cont... 06/03/2008

The city of St. Clair Shores will be having a community open house on Sunday, June 1st from 12 to 5.   There will be many homes held Open by various Realtors(R) and real estate companys! Come and tour our great city and learn about our schools, parks, golf course, city marina's, shopping and restaurants.   I will be holding open 22012 Benjamin from 12:00 to 4:00. Feel free to stop in and say hi, while previewing this custom brick ranch at a terrific price!                             S.C.S. Community Open house flyer   For more information on St. Clair Shores real estate contact Mike Mitchell - Realtor®    Mike Mitchell - Realtor®                                                                      GMAC The Kee Group  Direct: (586)291-2652  http://www.mmhomesearch.com/      05/30/2008

Sunday was the St Clair Shores Memorial Day parade. Newspaper reports said they were expecting up to a million people. Judging by the crowds along the nearly 2 mile route, that may have been an accurate assessment. The weather was great and everyone seemed to have a great time.Of course we don’t want to forget the real purpose of the event, remembering the brave men and women who made the ultimate sacrifice to secure our freedom. Our military was well represented and they received rousing applause every time a group came by.So today take a minute from your barbecue or get together and remember what this day is all about.       05/26/2008

The 56th Annual St. Clair Shores Memorial Day Parade when:  Sunday, May 25th time:   parade begins at 1 p.m. where: Harper Ave. starting at Stephens and moving north to 11 mile road It's that time of year again, the St. Clair Shores 56th annual Memorial Day parade will be on Harper this year, thousands of people from the city and surrounding areas will head down to celebrate this annual event. It's a great time to spend with family and friends and honor our nations veterans! So grab your lawn chairs & blankets and come on down to this terrific annual event! The theme for this years parade is "Long May She Wave" Thank you to the St. Clair Shores parade council and all the volunteers who work so hard to make our parade a success for all to enjoy! Have a Happy & Safe holiday weekend!      ... 05/22/2008

It seems that the Buyers are still looking at St. Clair Shores as being one of the most "Favorable Communities" in soutghern Macomb County....... Besides the liasting I have getting more activity & going into the "Pending" Status....... I've also "SOLD" another Real Estate Company's offering of a Property in the Martin Road / Harper area....... 05/14/2008

 ST. CLAIR SHORES REAL ESTATE MARKET REPORT - April 2008 If you would like to know what your St. Clair Shores home is worth in today's market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation.The spring selling is here! I'm happy to report that 52 homes closed in April up from 34 in March, that's a 52% increase! ST. CLAIR SHORES MARKET REPORT FOR APRIL - HOMES                                                        There were 52 home sales that closed in April                                                             The average list price was $112,672 The highest list price was $239,900 & the lowest was $28,500 The average sale price of those 52 transactions was $106,801 The average total days on the market was 204 56 homes went un... 05/01/2008

ST. CLAIR SHORES REAL ESTATE MARKET REPORT - March 2008 If you would like to know what your St. Clair Shores home is worth in today's market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation.The weather is finally breaking, the St. Clair Shores real estate market has been holding steady for the last few months. Total number of sales for March was down only 1 from February. I'm optimistic that April and May should be picking up. ST. CLAIR SHORES MARKET REPORT FOR MARCH - HOMES                                                        There were 34 home sales that closed in March                                                             The average list price was $105,542 The highest list price was $204,900 & the lowest was $37,900 The ... 04/01/2008

Even though that pesky groundhog said 6 more weeks of winter, spring is right around the corner and the spring home buying season will be underway. That makes right now, a great time to buy a lakefront home in St. Clair Shores. Before you know it summer will be here, and wouldn't it be wonderful to enjoy those lake views while having your morning coffee, or to have your boat docked right in your own back yard. Let's not forget about the great family barbeques to enjoy also. As of the date of this post, there are 14 lake front homes for sale in St. Clair Shores. Prices range from as low as $280,000 to luxury homes over $1 million. There are also many canal front homes available in St. Clair Shores. Prices are lower than they've been in years, take advantage of this buyers market and find... 02/20/2008

For Sale:  Great homes in a safe, bedroom community located on the water front near local freeways.  The St Clair Shores community has great schools, resident only lakefront parks, a new dog park, fine police and fire departments and a range of homes priced from less than $100,000 to over $1,000,000.  Find out more about this great community by visiting the city web site at;  http://www.stclairshores.net/Are you already a citizen of SCS?  Maybe a local real estate agent, broker, mortgage professional, title company or appraiser?  If you can answer yes to any of these questions, the St Clair Shores open house event is important to you!  We all know the Michigan real estate market is facing challenging times.  This turmoil in the residential housing market affects all of us in one way or ... 02/03/2008

 (edit/delete) ST. CLAIR SHORES REAL ESTATE MARKET REPORT - January 2008If you would like to know what your St. Clair Shores home is worth in todays market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation.     ST. CLAIR SHORES MARKET REPORT FOR January 2008 - HOMES                                                        There were 40 home sales that closed in January                                                     The average list price was $111,509The highest list price was $299,900 & the lowest was $44,900 The average sale price of those 40 transactions was $103,753 The average total days on the market was 171 43 homes went under contract and are marked pending for the month of January. Of those 40 closed transactions, 17 were ... 02/01/2008

ST. CLAIR SHORES REAL ESTATE MARKET REPORT - December 2007 If you would like to know what your St. Clair Shores home is worth in todays market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation.     ST. CLAIR SHORES MARKET REPORT FOR December 2007 - HOMES                                                        There were 27 home sales that closed in December                                                     The average list price was $110,225 The highest list price was $189,999 & the lowest was $54,900 The average sale price of those 27 transactions was $102,640 The average total days on the market was 254 23 homes went under contract and are marked pending for the month of December. Of those 27 closed transactions, 14 were bank owne... 01/02/2008

Imagine owning a canal front home and suddenly being denied the right to dock your boat or navigate the waters.Do you think it couldn't happen?   Think again. I just finished reading an article in the Detroit News that touched on a subject that I fear we are going to be seeing much more of in Michigan.Canal front home owners on Benjamin street in St. Clair Shores and St. Clair Shores officials are battling with the states Department of Environmental Quality about the agencies proposed plan to classify the canal as wetlands. Briefly, water levels in the state of Michigan have dropped over the last few years, and while other canal owners have received permission to dredge their canals for boating use, some canals have not been dredged yet.  On Benjamin street the DEQ is stating that the c... 12/17/2007

If you would like to know what your St. Clair Shores home is worth in todays market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation.     ST. CLAIR SHORES MARKET REPORT FOR NOVEMBER 2007 - HOMES                                                        There were 39 home sales that closed in November                                                       The average list price was $130,023The highest list price was $449,000 & the lowest was $39,900The average sale price of those 39 transactions was $123,449The average total days on the market was 15837 homes went under contract and are marked pending for the month of November. Of those 39 closed transactions, 1 was lakefront, 1 was canal front & 1 was new construction. Yes, although rar... 12/02/2007

What a Great Time to Buy a home in St. Clair Shores!Yes, you hear all of the gloom and doom from the media. It's no big secret that the real estate market is very slow in most areas of Michigan. But homes still sell every day & what a great opportunity to buy a home! What does this buyers market mean to you, especially first time buyers?   It means you have a great selection to pick from. Yes, there is a large amount of inventory, as of this evening there are currently 674 homes on the market in St. Clair Shores, so you as the buyer are definitely in the drivers seat! It also means you have a great opportunityto get a good deal. You don't have to necessarily look at just foreclosed homes to get a deal. Many sellers are getting motivated to sell their homes and are dropping their prices ... 11/19/2007

 St. Clair Shores Market Report for October 2007 - housesThere were 50 closed transactions in OctoberThe average list price of the closed transactions was $124,933The average sale price of the closed transactions was $118,532The average total days on the market was 140 daysThe highest list price was $269,900 the lowest was $64,900 Of the 50 closings for October, none were waterfront. There are 35 homes that went "pending" in the    month October.               St. Clair Shores Market Report for October 2007 - condosThere were 8 condos that closed in OctoberThe average list price of the closed condos was $83,161The average sale price of the closed condos was $74,143The average total days on the market was 216 daysThere were 6 condos that went pending in the month of October.             ... 11/01/2007

What are REO'sI hear that quite often from people, REO stands for Real Estate Owned.  It is an industry term, for a bank owned foreclosure. An REO has already gone through the foreclosure process, is owned by the bank and usually back on the market. Basically REO = Bank Owned Home.                                                      I always tell my clients when I'm showing them bank owned properties, that we never know what we're walking into. I've been in some that were very nice, others that needed some minor tlc and some that are downright disgusting. Some have been vandalized, gutted or major items taken. As of today, October 26, 2007 there are currently 66 Bank Owned properties on the market & 21 hud homes for sale in St. Clair Shores, according to my local mls. As I said, these ... 10/26/2007