Novi, MI Real Estate News

By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
I get this question quite often "When should I put my Novi home on the market?"  Plan ahead. And start before you think you need to. Now that you have decided to sell your Novi home or any home, chances are you´re caught up in a whirlwind of emotions. You may be looking forward to moving up to a big, new dream house or facing the uncertainty of a major relocation across country. You may be reluctant to leave your memories and friends behind, or eager to start new adventures. Whatever feelings you are experiencing right now, there are plenty matters that need your attention. Keep in mind the following considerations to help the whole process go more smoothly. It´s a good idea to place your home on the market as far in advance as possible of purchasing a new one. The average time on the m...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
  Novi Michigan Real Estate For Sale and Novi homes for sale Right now there are 223 Novi homes for sale that have been on the market an average of 217 days.  Out of those 223 homes there are 9 Novi foreclosures and 53 short sales.  Right now there are not many foreclosures for sale in Novi.  The deals may be in short sales.  Just remember that short sales take months and months to close.  The soonest a short sale will take to close is about 45 days.  Most of these Novi short sales have been on the market an average of 173 days.  It's not because they are bad deals.  It is because many Metro Detroit home buyers don't want to deal with short sales. Homes that are not short sales or foreclosures can be good deals too.  But take each Novi home listingat one time.  Look at the recent sold h...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
In the last few minutes I have read some blogs that sounded like "used car salesmen".  I'm sorry but I love the holidays.  Too me Christmas is a magical time of the year.  I love giving gifts.  I love twinkling sparkling lights.  I love a fresh snowfall Christmas week.  I love the happiness the holidays bring to so many people.                                               So all they hype of not decorating your home because it distracts buyers goes against my grain.  Sure it is true decorating may distract a buyer.  But what about the buyer that does expect to see a Christmas tree?  A beautifully decorated tree would make me feel at home.  Sure over the top decorating may turn some buyers off.  But a home at that isn't decorated at Christmas would turn me off.  It wouldn't be my home. ...
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By Bob Jakowinicz, Michigan Real Estate Agent-- MI Real Adventures
(National Realty Centers Livonia--Bob Jakowinicz)
     We are excited to announce a great way to quickly search for Novi Michigan Foreclosed Homes for sale.  Visit www.BobandTeena.com or www.RealEstateBusyBees.com and right at the top of the page you will see links that say Novi Michigan Bank Foreclosure Houses for Sale .  When you click this link it will show you the available bank foreclosure homes in Novi Michigan.  It is quick, easy and simply just an awesome way to search for homes.      If you have any questions about any of the homes for sale you find please feel free to email us anytime at info@BobandTeena.com we would be glad to help out in any way we could.       Novi is still seeing some decent activity even though the weather is turning colder and the holiday season is here.  Personally I am noticing more activity at this t...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
  Novi neighborhoods I think most Metro Detroit residents would agree that Bellagio is Novi's premier neighborhood.  It is a gated neighborhood with homes being priced over a million dollars.  The other gated subdivision is Turnberry.  Island Lakes is right up there as one of Novi's top neighborhood.  It is a subdivision that is around a small lake.  Around the lake are million dollar homes.  One side of the lake are upscale condos. Beckingham SubdivisionThe following Novi neighborhoods are some of Novi's newer subdivisions in the last 15 years.Addington SubdivisionAutumn Park SubdivisionBarclay SubdivisionBradford of Novi SubdivisionBristol Corners Subdivision (Bristol Corners North, South, West, Farms)Broadmoor Park SubdivisionChase Farms subdivisionChurchhill Crossing subdivisionGree...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
Current there are 229 Novi homes for sale as November 29, 2009.  The least expensive home is $59,900 and the most expensive Novi Luxury home is 3.99 million dollars.  The average time on the market is 204 days.  Of these 229 homes there are 50 Novi short sale homes.  These 50 homes have been on the market an average of 166 days.  Out of all these Novi homes for sale there are only 12 Novi foreclosures.  Overall there are not very many foreclosures in Novi. I am going to break down the list of Novi homes for sale by price range. Currently there are 18 Novi luxury homes that are listed over a million dollars.  Two of those Novi luxury homes are short sales.  The average time on the market for Novi luxury homes over a million dollars is 242 days.  In the last year only 3 homes have sold.  ...
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By Bob Jakowinicz, Michigan Real Estate Agent-- MI Real Adventures
(National Realty Centers Livonia--Bob Jakowinicz)
     Are you looking for a Novi Michigan Home or House for sale?  You have come to the right place, we offer a great Novi Michigan Homes for sale search tool.  Visit www.RealEstateBusyBees.com or www.BobandTeena.comand click the search for homes button on the left side of the web-page.  This search tool will show most all of the homes for sale in Novi Michigan.      There has been some great deals on homes for sale in Novi Michigan over the last few months.  Here is just one example below.      This home above offers over 2500 sq. ft and is close to Novi High School and so much more.  This home is priced at only $225,000 wow it does not get any better than that.  If you have any questions or are looking to buy or sell a Novi Michigan Home please feel free to email us anytime at info@Bob...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
Many times I get the question..... "can I start fixing and painting the house before we close".  NO.  The answer is no.  It is simply a matter of liability for the real estate agents or the seller. As a buyer you don't have home owners insurance on the property!!!  Who will pay if you get hurt?  Who will pay if somebody burns the house down?  Who would be liable?                                                                               The seller doesn't want to pay your medical bills.  The listing agent and I don't want to be responsible if you get electrocuted.  It's not that you aren't qualified to do the work.  But accidents happen.  Hospital emergency rooms are full of people that have accidents. As your buyers agent I can't OK for you to work on a house that you don't own.  If...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
Just what is due diligence.... Quite simply it means getting off your arse.... and finding out for yourself.  Sure we as your Realtor are your go to person, but there is tremendous liability sometimes in getting that info. Think about this... I had a client ask me about lot lines.  Sure I can make an educated guess but you need to hire a surveyor to find out exactly where the lot lines are. I had a client ask me whether Novi schools or Northville schools were better.  I gave them some independent websites to check out.  Because my opinion might be biased. I had a client ask me what the building codes were and what could he build on the property.  Sure I went down to the building department and got the building guidelines.  But I make no assumptions on what can or can't be built.  I gave...
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This is a Novi Short Sale that I listed and closed.  My sellers needed to sell.  They were both affected by the economic downturn and were unable to continue paying for their monthly mortgage payments.  Their incomes were reduced to more then half of what they were making at the time the mortgage was originated.  The Sellers were thrilled with my services.   Without a Short Sale, they would have been foreclosed on.  This would result in years of debt and probable litigation.   Some Homes have become an anchor that prevents the owner from progressing with the rest of their lives.  A SHORT SALE can cut the rope which allows the seller to move on to a brighter future with out the baggage of the past.     PROFILE: Location:  Island Lake Orchards, Novi, MI                           Type: 200...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
Here is a quick explanation of tax pro rations.  In the Metro Detroit real estate market we pay our Michigan property taxes in advance. So whether you are buying Livonia real estate or Farmington Hills real estate you will owe the seller back the tax money they have already paid. I am just going to explain about summer tax pro rations in this blog.  Each year the homeowner pays their summer taxes on July 1.  So this year we paid our Michigan property taxes on July 1, 2009.  They are paid up until June 30, 2010.  So if the seller sells his house on October 30, 2009 he hasn't used 8 months of property taxes.  From October 30 to July 1, 2010 is taxes the seller has paid for but not used.  The seller want his unused tax money back. The buyer has to pay the unused Michigan property taxes bac...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
in the Michigan real estate market.  Yes time is running out on 2009 first time homebuyer tax credit.  Only 61 days to have a signed purchase agreement and 30 days to get the mortgage done.  So many people are forgetting that on the average it takes a month to get a mortgage completed. If there is no extension to the first time homebuyer tax creditthe deadline to purchase a home is  December 1, 2009.  That means you have to close on the home by December 1, 2009.   Not be in process with the mortgage.  Not sign the purchase agreement.  The HUD 1 settlement statement has to be from before December 1. So if you have been waiting around or not actively looking for a house because you thought you had lots of time..... Get going.  On the average most first time home buyers take from one month...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
   Now is the time to put everything you have learned as a Oakland County first time home buyertogether.   It's about time to put in a bid. You have your mortgage pre-approval letter and you know what you can afford in a payment.  You know it may be wiser to buy a smaller house so the house payment fits your budget. You have looked at listings and viewed some Oakland County homes.  You have taken good notes on the houses you like.  You got rid of the paperwork of the ones you didn't.  You have looked at the major componants of the house.  You know which houses need updates, which furnaces, windows, and roofs are newer or older.  You have thought about what it will cost to fix up.  You know whether you are handy or whether you will have to pay somebody to fix the problems. You know some ...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
What do you have to do when you are thinking of buying a Metro Detroit home that has pet urine smell.  In the past week I have been in 3 or 4 metro Detroit homes that have had over whelming stench of pet urine. My worst experience with pet urine was a $400,000 high end Novi Condo on a golf course.  We walked into the condo and every two feet there was a yellow spot.  It looked like the condo had polka dot carpeting.  There was that much cat urine in the home.                                                     Depending on the where the smell or the pet urine will determine how easy it is to get rid of it.  I will split it up into areas. Basement  - I believe the basement is the easiest place to get rid of pet smells.  Strip the carpeting or flooring.  Bleach the floor or use heavy duty...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
The first thing you should do as a Oakland County first time home buyer MI               is to get your financing lined up.  There is no sense going out to look at               homes when you don't know what you can afford.  So call up your local mortgage                            broker, stop in your local bank or credit union, or surf the net for a mortgage                                          person.  There are lots of them here on Active Rain too.   The loan officer will ask you about you income, pull your credit, find out            what kind of payment you want.  Once they know you can qualify they will                   issue you a pre-approval letter.  What a pre-approval letter states is that you                                can buy a house up to a certain purchase pric...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
There are two ultra exclusive subdivisions in Novi Michigan and one is the Bellagio neighborhood Novi Michigan.  Bellagion is one of the only two high end gated subdivisions in the Western part of Metro Detroit. The Bellagio neighborhood isn't a big sub as it only has 55 homes in it and they were built mainly by Cambridge builers.  Though it covers 73 acres with a 4 acre central park, gazebo, and walking paths.   Even though Bellagio is in Novi Michigan the children's school district is Northville School district.                                                   The location of Bellagio subdivision is just west of Beck Rd between 8 and 9 mile Rd.  The only entrance to the subdivision is off Beck Rd.  Named for a small hillside town in Italy, Bellagio is Oakland County's premier gated c...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
Why are Island Lakes homes Novi Michigan such a great subdivision and a desirable place to live?  Why is it considered one of Novi's nicest subdivision.  I myself think it is because it has a lake, because it has nice parks, a nice beach, and walking trails.  And of course the homes are gorgeous inside and out.                                             Island Lakes has a 170 acre lake, community club house with fitness center, pool, tennis club, and nature trials.  The 170-acre lake is ideal for sailing, fishing, swimming and more.  The community clubhouse has a fitness center, locker rooms, kitchen, great room and walkout veranda.  Next to the clubhouse is a sparkling outdoor pool and a tennis club.  The 170 acres has docks, private beaches and lakeside parks.  The winding nature tra...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
There a quite a few Metro Detroit home inspectorsout there.  All you have to do is Google "metro Detroit home inspector" or "Wayne County home inspector" or "Oakland County home inspector" or "Macomb County home inspector" and you will find all you need. If you are a Metro Detroit first time home buyer what do you look for?  Michigan home inspectors don't have to be licensed or have any special training.  (Hopefully that will change in the near future).  What you should look for is their training or their credentials.  Read their profile.  How long have they been in business?  Do they belong to any national associations? Do they teach? Do they have a background in the building industry? Did they take any specialized training? Are they certified? These are just some of the questions you ...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
If you are thinking of buying a Metro Detroit home through a short sale and want the $8000 tax credit you need to get going.  Many short sales take up to 4 months to complete.    And sometimes after the four months the bank may decide to say no. We have four monthes and 15 days left until the first time home buyer credit runs out.  So time is running out for short sale buyers.  You need to get going if you want to buy a short sale or you need to exclude Michigan short sales from your home choices.  I always tell home buyersto keep looking if they have decided on a short sale house.  The short sale may not go thru.  So keep looking if you want to be sure that have a house and you can claim the $8000 first time home buyer tax credit. Remember that you need at least thirty days to get your...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
The key to making a good offer that will secure the Metro Detroit home you want is to know the market.  You can never guess the sellers thoughts or believe what public records show.  Let me give you some examples. A couple of years ago my home buyers put an offer on a Northville home.  It was owned by a retired couple that had moved out.  The house was empty.  The public records showed they owed nothing on the house.  The listing ticket said "bring us an offer" We put in a 13% below list price offer in.  The house needed total updates.  They turned us down. Here's another one.  My clients were looking at a Novi home.  The public records showed they bought the house for $420,000  2 years prior.  We put in an offer of $371,000 when the list price was $410,000.  The public records showed t...
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