1.)  Are you seeing this happening in your real estate market..  I took out a client tonight.  They just retired and they had bought a new construction home in Canton bout 5 years ago.  Their Canton home has lost over 40% of its value.  Neighbors that are buying homes in Canton MI have payments a thousand dollars less than theirs. At retirement age they are realizing that the home will never be worth what they paid for it.  That if one of them dies they can't afford the house.  They are realizing that why should they pay all that money in a payment when the person next door isn't.  That the next door neighbor paid $100,000 less. The guy just got a cash buyout for retirement and they are thinking of paying cash for a smaller home and not having any payments in retirement. Here is another... 06/30/2009

It is simple math.  OK everybody is asking the question of how long will it take to come back to the highs of 2004.  Now this depends on what area you are in and how far back home prices have fallen. In Michigan the newer home prices have gone back to about 1994 prices.  In some cities it is 1980's or 1970's prices.  So here is my math on the 1994 priced home.  If your house is worth what is was in 1994 it took a total of ten years before it reached 2004.  2004 -1994 = 10 years right... So in just 10 short years your Metro Detroit house rose in value to 2004 prices and that was a booming economy. So how long do you think it will take for the Metro Detroit's economyto get rolling.  Let's be optimistic and say in 2 years. So here is my math.   2 years        for economy to turn  10 years ... 06/10/2009

Nothing............  Yes you heard me right.  There won't be some bank official sitting there.  They are represented by the closing agent.  Many times the closing documents have not been even signed by the bank. The chair is going to be empty.  Welcome to the cold, cold world of banking. It is more now than ever that I realize how uncaring the banks are.  It is simply about black and white.  What shows up on the balance sheets.  There is no corporate responsibility or neighborhood generosity.  All they care about is getting rid of the house and protecting the bank with the many addendums and legal papers.  They don't care that there was water damage, they have no responsibility to tell you.  Like I said the banks aren't good neighbors.  They won't care about the black mold or anything e... 05/14/2009

Meadowbrook Glens is one of the more well established neighbhorhoods in Novi, MI.  It's a very popular subdivision due to the mature trees, large fenced yards, variety of floor plans, and sidewalks.  This subdivision in Novi is located South of Grand River, West of Meadowbrook.  You can walk to the grocery store, pharmacy, or to get a bit to eat.  There is even an ice cream parlour at the corner.  Home sales in Meadowbrook Glens for the past year have been steady. As of today there are 10 homes for sale.  The asking prices for the sales range from $148,000 to $280,000. In the past 12 months there have been 14 sales ranging from $141,000 to $240,000. The average sale price is $184,625, with homes taking approx. 4 months to sell. You can access this area on Cherry Hill which is West off M... 05/12/2009

There are always a few Michigan home buyers that don't "get it".  They go out and do things that screw up their home purchase.  Your home purchase and mortgage approval depend on 3 things..... good credit, your income, and how much you owe.  So don't do these three things. DON'T QUIT YOUR JOB.   Believe it or not there is one person that quits there job now and then right before the closing of their new Metro Detroit home.  Banks and lenders call your employer usually a day or two before closing to verify your employment.  They will find out if you quit. DON'T GO ON A BUYING SPREE.  Don't buy a new car, or buy all that new furniture that you want for the new home.  All of that can wait until the day after your home closing.  Your mortgage approval and your new home is based on what they... 05/07/2009

I haven't written anything for a while so I thought my first post back would be about housing and life in Novi, MI.  Novi's median sale price for for the 1st quarter of 2009 was around $182,500 which is down about 5.5% from the previous year. The number of homes hitting the market in Novi, has also declined.  This tells us that the market is turning, and with less inventory, it's only a matter of time before values start to increase. Novi is a popular place for prospective homeowners that are either moving from another city in Michigan or out of state.  Novi has many different housing options available at a wide variety of pricing.  If you prefer to live in a condo, small home, or luxury estate sized home, Novi has it all.  The area has also seen it's share of foreclosures. The positive... 05/06/2009

Do you ever realize that when you get invited to a wedding, a graduation, or a function is that you are sharing in a special moment?  It may seem a drag to you but to your friends or family member it is important.  It is more than a commitment.  It is an opportunity for you.  It is a milestone in their kids life. My wife and I were lucky tonight.  We got invited to a "draft" party.  A friend of ours sons got a contract with the Seattle Seahawks.  He didn't get drafted in the NFL draft but he got a contract within a couple of hours after the draft ended.  He got a job in the NFL! It was a special moment for our friend Carrie Griffin.  Her son Sean is going to the NFL.  He went to Novi Catholic Central.  And we were invited to be with them when they celebrated.  It didn't matter it was 9 ... 04/26/2009

The key to get a good home deal in the Metro Detroit is to either know the market or have a good real estate agent that does. So many home buyers depend on friends, family, or other people on what is a good deal or how they should bid.  After all the TV newscaster says......   As a metro Detroit real estate agent we can tell you what is going on in the market. There are home bargains out there but you can't: decide if the home price is good because of the listing price Many metro Detroit home buyers want something off the list price.  But some banks and short sales are putting the list price below the market price.  Other homes in the area might be selling for $25,000 more.  So your bid on the foreclosed house may have to be at or above list price.  It just depends on where the list pri... 04/24/2009

When you are buying Metro Detroit Real Estate you need a home inspection.  It is that simple.  No ifs, ands, or buts about it.  A quality home inspector will save you money.  They can point out items that many Metro Detroit first time home buyers would never see.  Even experienced home buyers miss many problems that an experienced home inspector will find.                                                            It's good to have an extra pair of eyes. When you bottom line your Michigan purchase agreement you have a specified amount of time to complete a home inspection.  It is in your best interest to schedule the home inspection as soon as possible.  Everything hinges on the home inspection.  Your mortgage person doesn't want to order the appraisal until the house inspection passes.... 04/14/2009

This mortgage guy my client fired sent her this email. I am sorry that you left after all the time we spent on you file without a phone call or email. After all our time and money spent towards your file a chance to match or beat the rate you "found" would have been courteous. I know Russ referred the lender to you. He probably encouraged you to use the new lender. I will make sure he doesn't get any referrals from my realtors ever again. In the long run he will realize that his behavior was unprofessional.  To explain the situation indepth this was a in house company (Remerica) referral.  The mortgage lender sent over a pre-approval letter.  The client is a metro Detroit first time home buyer.  I asked the client to specifically ask the lender what they buyer needed for sellers concess... 04/07/2009

Here is a quick look at three of Novi MI affluent subdivisions.  They have totally different feels to them. totally different  Bellagio subdivision Novi MI.  Bellagio has approximately 55 homes in it.  The homes were built during the years of 2002 -2008.  It is a gated subdivision with most of the home values over a million dollars.The homes are mostly Colonial and Cape Cod style.  Most of the homes have brick & stone exteriors, 3 & 3+ car garages, 4-5+ bedrooms, 3 + bathrooms, basements (some walkout). Some of the homes were built by Cambridge Homes.Square footage of the homes range from 4600 - 6500 square ft.Bellagio Subdivision is 73 acres with a 4 acre central park, gazebo, and walking paths.  The school district is Northville SchoolsThe location of the subdivision is between 8 and ... 03/21/2009

Today is the last day for Outdoorama and Cottage Living Show being held at Rock Financial Showplace in Novi, MI.  Rock Financial showplace is located off Grand River between Beck Rd and Taft Rd. If you own a lake cottage this is a great expo to find furniture, shop for a boat or a dock, or find a landscaper.                                           So if you have a cottage or an outdoors man you will enjoy this show.  They have a lot of out of state hunting and fishing trips available.  Lots of beef jerky being sold. They have a fishing tank for the kids to fish at, and even a huge sand pit for all the kids to play in.  So if you are looking for something to do on this cold 1st day of March load up the family and head over to Outdoorama and the Lake and Cottage Living show.  It is open... 02/28/2009

Novi is located in the southwestern part of Oakland County MI.  One of the nice things about Novi is that it has great highway access.  I-275 runs on the east side of Novi and I-96 runs through the Northern part of Novi. This gives any commuter access to Southfield, Brighton, Lansing, downtown Detroit, downriver, or the east side.  Many time I have Metro Detroit home buyers buy in Novi because one person is going to work in one direction and the spouse is driving in the complete opposite direction. Some of the major roads that run through Novi from east to west are: 8 Mile rd 9 Mile rd 10 Mile rd 11 Mile rd 12 Mile rd 13 Mile rd 14 Mile rd Grand River Rd The major roads that run through Novi from north to south are: Haggerty Rd Meadowbrook Rd Novi Rd Taft Rd Beck Rd Wixom Rd Novi is wha... 02/17/2009

Novi SubdivisionsBristol Corners & Bristol Bluffs (North, South, West, Farm)          Novi Real Estate, Novi Homes for sale,       Relocating to Michigan?  Whether you have a Michigan relocation in your future or just moving in Michigan this will give you a feel of what Bristol Corners homes are listed for, what they have sold for in the last year.  Also listed is the average time on the market for the Bristol Corners homes.  This page will give you some basics about Bristol Corners subdivision Novi MI Novi, Mi Real Estate, Novi, MI Homes for sale Here is the latest Metro Detroit real estate update for Bristol Corners subdivision Novi Mi as of January 11, 2009There are 5 Novi homes currently for sale in Bristol Corners.  The average sale price is $395,360 and the average time on the mar... 02/14/2009

Novi SubdivisionsNovi Mi Real EstateRelocating 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 Yorkshire Place Subdivision Novi.  Feel free to call me with any questions or email with any questions Novi, MI Homes for sale              There are 3 Novi homes currently for sale in Yorkshire subdivision.  The Average time on the market is 217 days and the average list price is $282,967. Yorkshire Place homes for sale Novi MI Price Address Bed Bath Sq Ft   $2,200 for lease 24855 PORTMOUTHS AVE AVE 4 2.1 2674   $249,000  25021 DAVENPORT AVE 3 2.1 1997   $299,900  24893 DAVENPORT AVE 4 2.1 2500   $300,000  45530 EMERALD FOREST DR 4 2.1 2669     There have been 4 homes that have sold in Yorkshire ... 02/14/2009

"Now who has been winterizing my house when I have been gone" says Goldy Locks.  I think a big oops just happened at the property I closed a Novi short sale for my listing client on January 12, 2009.  On January 30th a winterization company and securing company came in changed the locks, winterized the house, and tracked mud and dirt through the house. Here is an email I received from the buyers. "Please note we went to the Novi home after 10 days yesterday & we could not open the front door (the key wasn't working) & also the garage door opener wasn't working.  We went back there today & tried to enter through the back bedroom door & could get in.  We noticed that there was an entry by a company for "Winterization", they put orange notes everywhere & it says it that they performed the ... 02/12/2009

Novi MI SubdivisionsWhispering Meadows This webpage is meant to help not only the public to learn more about the good aspects of Whispering Meadows but also for the residents of Whispering Meadows.  If you as a resident would like to add information or something that is happening in Whispering Meadows please email me at info@russravary.com Novi Real Estate       Relocating to Michigan?  Whether you have to relocate to Michigan or just moving from your Wayne County home or your Livingston County home to a new Oakland County home.  Where ever you move from whether it is from Plymouth, Canton, Westland, Redford, Livonia, South Lyon, Northville, Dearborn, or Garden City you want to know about Novi, the Novi subdivision, and the Novi neighborhood.   This page will give you some basics about ... 02/07/2009

Novi Real Estate Here is a brief real estate market update for one of Novi Mi subdivisions.  This give you the latest info to figure out the average price per square foot.  Let you know what is going on in your neighborhood.        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 Jamestown Green Subdivision Novi.  Feel free to call me with any questions or email with any questions  Novi Homes for sale There are 3 homes for lease in the subdivision and 8 Jamestown Green Subdivision homes for sale as of Janaury 26,  2009.  They have been on the market an average of 94 days and have an average list price of $266,231.   Price Address Bed Bath Sq Ft $1,800 for lease 2498 NEWBERRY DR 4 ... 02/01/2009

Novi Real Estate Here is a quick glimpse of what Royal Crown Subdivision Novi MI is like.   Royal Crown Estates subdivision is actually 6 subdivisions with one homeowners association.  Royal Crown Estates has approximately 228 homes in it.  The homes were built during the years of 1990 -1998.The homes styles: Colonial and Cape Cod.  Most of the homes have brick/vinyl exteriors & brick/wood exteriors, mainly 2 car garages, 3-4 bedrooms, 2 + bathrooms, basements.  The homes range in square footage of 2300 - 3200.The School District is Northville SchoolsThe location of the subdivision is between 8 and 9 mile roads and between Taft and Beck Roads.  You can enter off 9 Mile and Taft Rd.The streets that are in the Royal Crown subdivision are:Havergale                  VioletDevron Ct         ... 01/26/2009

Do I think Metro Detroit home prices have bottomed out?  No I don't.  I think there will be a continuation of foreclosures that will be hitting the Detroit real estate market.  I don't see that slowing down in the near future at all. What I am seeing is that many of the home buyers are people either moving in from out of state, investors, or first time home buyers.   So what do I suggest you to do?  Do you sit on the sidelines and wait for the bottom or the lowest prices? Well first of all .... how will you know the bottom has been reached.  Do you have a "expert in your pocket"  None of the "experts" have been able to call it so far.  And I don't think anybody can call the bottom until it has happened and then it will be too late. My thoughts are: 1) we have tremendous rates.  A full p... 01/16/2009