Christian Real Estate Professionals : Michigan

This Friday, our very own Bob Stewart and the lovely Christa Caulk will be joining hands for eternity in marriage!  Yup, a couple of my very best friends in the World are getting hitched and permanently tying the knot.  Since I am unable (along with so many other friends and family) to make it to their wedding out in Michigan this year, we are putting together this "LIVE" streaming video to share with everyone.

And Two Become One...

On Behalf of the entire ActiveRain Team, We request the honor of your presence at the marriage of Christa Noelle to Robert Eugene Stewart Jr. this Friday, the Ninth of July, Two Thousand and Ten at Half Past Six in the Evening.
(That's 12:30pm Hawaiian time, 3:30pm Pacific, 5:30pm Central, 6:30pm Eastern)

Gather all your friends and family, calling all ActiveRain Members, Get the Rice Ready....  This Is It!! 

Come join us for the "First Ever" Virtual wedding right here in the Rain. May these two be blessed with great fortune and all the amazing things this earth and universe have to offer them. We wish them peace, happiness, and an abundance of Joy and great health in their new adventure, Journey, and life together as Bob and Christa Stewart. 

Register Here Friday at 6:00pm EST, and Watch The Wedding "LIVE" With Us

We love you both and wish you all the very best.

CONGRATULATIONS and Thank You for sharing this very special day and time with all of us.

BTW - Bob will also be celebrating his Birthday during this momentous occasion.

Grand Rapids, MI agents don't have to wait for the yearly announcement of the 'Good Neighbor Award' to support and celebrate one of our own local Realtors®.  It's wonderful to live in a community in which so many individuals give of their time and talents to serve our local community.  

And then, there are some agents like Sue Prins, a real estate agent with Five Star Real Estate, who stretch arms of compassion across the globe to touch the lives of those who are less fortunate.

I recently completed a transaction with Sue; one which took about 3 months to negotiate. It was really refreshing to work with a professional.  One of the unanticipated results of our 'extended deal' was that I became aware of Sue's interest in helping people in an impoverished area of South Africa become self-sustaining by starting a business.  The initiative is Vox Threads.

Here's a few excerpts from Sue's letter about the project:

Recently a call came into the office from a prospective buyer.  After talking with her briefly, I asked her if she was being assisted by an agent who could get her real time updates of newly listed homes when they were listed.

She seemed surprised that this was possible.  But it wasn't until she began to share her online experience with me that I became startled. Apparently, she had clicked on a link on a website to get information about a home listing and didn't think anything of it...until she was presented with a $15 charge on her phone bill the next month.  When she contacted the phone company, they informed her that the click had cost her $15!

Has anyone else run into this? 

I did let her know that you don't have to pay ANYTHING to get updated information about homes in Grand Rapids, MI.  In fact, the Grand Rapids Association of Realtors is now beta testing a new site which will allow prospective homebuyers to customize and SAVE their searches.  They can also choose to associate the search with the real estate agent of their  choice if they'd like.

In addition, the association is asking consumers for feedback so they can enhance what our guests experience while they are online.  Check it out for FREE.  You don't have to pay for the most comprehensive, real estate listing information available in Grand Rapids, MI straight from the professionals who serve in the real estate industry everyday.

If you're searching for an agent to serve your local real estate needs, visit www.auduhomes.com.  You can create your own private search by clicking on the Property Search link and also access tons of information about the local area.

Copyright 2009  Audu Real Estate  All Rights Reserved

This past week, I attended a Foreclosure seminar which was part of the Fair Housing annual educational and awards presentation held in Grand Rapids, MI.  The event drew a significant number of individuals representing different areas of government, business and the non-profit sector.  

The foreclosure session was led by Kym Spring, the coordinator for Foreclosure Response, and featured several presenters as well as discussion and questions from the audience.  I learned a lot about the profound impact that foreclosures are having in the West Michigan area including the unsettling statistic that 10% of the housing stock in our area is in some part of the foreclosure process.  In Kent County, we're loosing about 10 homes a day, 7 days a week!

One of the most arresting comments came from a member of the audience. (which included several local experts)  A gentleman associated with Home Repair services, an organization dedicated to helping home owners STAY in their homes shared this:

'While much is being done and invested to address the crisis through programs to help the banks and re-build communities, we should remember that it costs approximately $1,000 to help a family STAY in their home.  And organizations which do this are struggling with their budgets.'

That comment for me highlighted the challenge of dealing with this crisis.  Sometimes, complexity gets in the way of common sense.  While there is not going to be one single silver bullet to end this crisis, we risk loosing sight of obvious steps which can be taken to alleviate human suffering and stabilize hard hit communities.

After all, if our neighbors loose their homes, we're all going to suffer.  This is NOT an individual problem...it's a collective problem!

At a time when the numbers being tossed around to deal with this crisis are so staggering that we need graphs and pictures to help folks understand the size of the mountain of dollars, it was really refreshing and eye opening to hear about practical solutions which would cost far less and can be implemented at the local level.  

If you're in the West Michigan area and need help because of the threat of Foreclosure, here are some reputable organizations which can be of assistance.

Legal Aid of West Michigan: 

If you're a renter, being unfairly evicted due to foreclosure, call:  616-774-0672

Foreclosure Response:

Homeowners, renters and neighborhood communities can access services, self-help tools and action steps to help prevent foreclosures.  Call 616-401-0680 or e-mail ForeclosureResponse@gmail.com

Home Repair Services:

These housing specialists provide FREE assistance to help homeowners work out positive outcomes with their lender.  They also serve as a referral to other services which can be of assistance to people facing this challenge.  Call 616-241-2601

Copyright 2009  Audu Real Estate  All Rights Reserved

If the beginning of the year 2009 was somewhat tepid for real estate sales in Grand Rapids, Michigan…things changed in March.  March roared in and out with numbers which had many in the real estate community chattering with delight.

Activity increased with home buyers sending sales into an upward spiral which eclipsed the same period of time in March of 2008 by 19.46%!  For agents on the ground working with home buyers, this translated into multiple offers or Sold signs on many desirable properties.

In addition, although foreclosures and short sales continued to depress pricing, the overall number of homes for sale was down by 12.8% (10,301 active listings in 2008 vs 8,982 in 2009) and the inventory racks (also known as the absorption rate) decreased from 12.69 months of housing inventory to 9.26 months.

For home sellers, the bottom line view still hurts to look at.  In March of 2008, the average single family home was $120,000, this year it’s about $100,000…a whopping 20% drop!  Ouch!

So what’s the best course of action if you’re in the real estate market of 2009.  Well, it depends on which side of the market you’re putting a stake in the ground for.

Buyers…

If you’re buying a home, the combination of record low prices, great interest rates, good inventory and the tax credit make a very strong case taking a good look at your options, doing your research and acting responsibly and decisively.  Nothing lasts forever…this perfect storm won’t either.

Sellers…

If you’re selling your home, step back and take a birds eye view of your surroundings.  You might be surprised by how much competition is surrounding your dwelling.  Study the numbers intently.  This starts by ordering an appraisal or commissioning a well prepared Comparative Market Analysis by a seasoned real estate professional.

Be realistic; you’re probably not going to make a ‘killing’ in the profit department, but if you play your cards right, you don’t have to get taken to the cleaners either.  Homes which are priced right are selling.  It’s just that the term ‘priced right’ is a moving target.

If you’d like a more detailed analysis of your specific neighborhood, contact me at info@auduhomes.com.  It’s important to note that the stats for every neighborhood in Grand Rapids, MI and the surrounding areas are unique.  This is not about a one size fits all approach.

Copyright 2009  Audu Real Estate  All Rights Reserved

While the number of homes being Sold under 'special conditions' a term which is a euphemism for distress sales in Grand Rapids, MI trended slightly downward in March, home owners will still be dealing with the impact of so many homes in 'crisis' on the market this spring.

The spring market is traditionally the period for the most activity in the real estate industry.  In Grand Rapids, MI; a gorgeous day like the one we enjoyed today, is just the tonic needed to spur many potential home buyers into the buying mode.

With the tax credit available to buyers who purchase during this year, there is some expectation and hope that perhaps there is a leveling off on the horizon for the precipitous drop that has driven prices down drastically over the last couple of years.

But, the fact remains, many home sellers will still find that in order to sell their homes, it will be necessary to complete a short sale, as the amount owed on the mortgage will not be paid after the costs of the sale.  If you find yourself in this situation, there are some steps you can take to ensure that you are realistic in your pricing when you place your home on the market.

What is a Short Sale?

Short Sales are an option to consider if your home will probably NOT sell for the Amount You OWE on the Loan after you have paid all the costs associated with selling your home. 

A Short Sale is a negotiated Solution with the owners of your note (s) which requires patience and persistence.  It's not a simple negotiation.  It will require your real estate agent negotiating with a potential buyer, jumping through the hurdles to get an acceptable offer to all parties AND THEN Negotiating with the bank & perhaps their subsidiaries including the Investor who may suddenly seem to appear out of "nowhere" with a monetary interest in your property. 

The Investor is your Ultimate Money Man & makes the final decision in most cases. You  and/or your agent may or may not deal with him/her directly in the process but be assured that their influence is substantial. 

While it is true that the bank does not really want your home back...they are bankers,  not real estate agents...they DO want as much money as they can possibly get for the loan.  After all...you did agree to pay them the amount you signed for. 

Now, in situations similar to what many residents of the State of Michigan have faced recently, there are a number of neighborhoods for which the Value of the homes have dropped considerably.  First of all: KNOW YOUR CURRENT VALUE.

How Can I Determine the Value of my Home? 

It is wise to invest in an appraisal or accurately prepared Comparative Market Analysis. If you would like a referral to an honest, competent appraiser, you can contact our office.  Our team at Audu Real Estate can also provide a thoroughly researched Comparative Market Analysis. 

This is NOT the time for games.  In-fact, if you choose to utilize a Comparative Market Analysis, ask the Realtor ® to create the analysis using ONLY Sold Comparables and Expireds.  This will give you the most realistic picture of what the market in your area is currently doing.  The fact is that many homes currently on the market will NOT sell, so why use a Non Starter to determine how to price your home.  Focus on the Success Stories...the homes that have SOLD to increase your chances of Success!

Having arrived at a price that will SELL your home, Reduce that amount by 1-5%! Then...Put it on the market.  Jump into the game like you really mean it.  Time is not your friend in this process.  As more homes go into Foreclosure, the Value of every home may continue to trend downwards!

Many times homeowners think that because they are not going to be getting much out of their home, they are giving the house away and therefore don't really put effort into presenting  the home properly. There is also a temptation to be uncooperative about showing your home because you are resentful about having to sell it. This is a big Mistake.  We will discuss WHY trying to get the most out of your home even if you won't be taking money out of the deal is to your best advantage in a future blog post.

Copyright 2009  Audu Real Estate All Rights Reserved

We picked up two loaves of bread the other day from one of our favorite local bakeries, Great Harvest Bread Company.  Let me tell you, there are few things more singularly delicious than sinking one's teeth into a soft, freshly baked piece of bread.  And when it's challah or cinnamon bread, two of my favorites...well, it's like a little slice of heaven here on earth. :)

As we enjoyed a little break, my husband made a passing remark which went something like this...'just six things'.  Now if you knew my hubby, you would appreciate that he is a man of relatively few words, so one learns to pay attention when he dispenses them.  So, I inquired about what he was referring to.  

Well, he was looking at the label on the bread loaf and noted how simple the ingredient list was. Remember the days when bread contained ingredients that you didn't need a science degree to understand?  I picked up the loaf to see for myself.  The list...white flour, honey, eggs, water, yeast and salt.  That was it!  All that taste and flavor from just a few simple ingredients.

Made me think about our jobs as real estate professionals. At a time when there's so much hype about this and that...social media, online advertising, online networking, personal promotion etc, etc...doesn't it still boil down to just a few simple things?

My dad used to say, 'it's not about what you know, it's about who you know'.  I learned that you Treat people the way you want to be treated...don't manipulate, don't deceive...what goes around comes around.  Then there was this...'whatever your hands find to do...do it with ALL your might.'  And...always keep an open, clean heart...clear those accounts every single night.  And then one of my favorites...a simple African proverb; 'No condition is permanent in this world.' Just a few simple things, but I've found them to be vital in creating an enriching life.

Copyright 2009  Audu Real Estate  All Rights Reserved

With interest rates dropping to their lowest levels since 2004, the home equity loan re-finance bug is itching a lot of folks again. As we approach the Spring Market which traditionally swings into full gear around March, home buyers will be able to take advantage of low interest rates and a large inventory selection of homes to buy as well. 

If you currently own a home and intend to sell it, it's important to coordinate your transactions properly so you do not find yourself making two mortgage payments.  Failing to sell one home before purchasing is a tremendous source of financial hardship to many home owners. There are some steps which you can take to help you to avoid being trapped by your Trade-Up Home. 

1. Know Your Values?

Many home owners make the mistake of relying on old data to determine the equity that they have in their home.  In today's market with the shifting sands of changing value, an appraisal which is older than 60-90 days is probably NOT an accurate indicator of the current value for homes in your neighborhood.  The average home Sale in Grand Rapids, Michigan has decreased almost 26% since the end of last year from $121,000 to just under $100,000 today.

2.  Steer Clear of the Loan Guessing Game!

It is vitally important to get pre-approved for a new loan. Credit lending standards have tightened considerably within the last 3 months due to the sub-prime lending crisis. But with the New $8,000 Buyer's Credit AND the fact that interest rates are trending downwards below 5%, there's plenty of incentive to get a professional review of what you can afford.

Don't assume that because you qualified for a mortgage last year, the same terms and conditions still apply.  To avoid an unfortunate surprise, get an updated, valid pre-approval letter from your lender which includes: verification of your credit, mortgage or rent payment history and verification of your employment. 

If you own a home you intend to sell, verify the balance and pay-offs for your current loan.  This will give you an accurate indication of how much money you may be able to spend towards the purchase of your new home.

3.  Sell First!

If you own a home and don't want to be strapped down with supporting two mortgage payments...Sell Your Home First and then buy your new home.  With the incredible array of properties for sale, the idea that your dream home will vanish if you don't act now is probably not as big a problem as holding onto your old home for a year while making monthly payments will be.

This is NOT the time to get into the Bridge Loan Trap just because interest rates are great.  Although the spring market has definitely picked up, you don't want to create a bad deal for yourself while trying to get a good one!

4. Don't Leave Cash on the Table!

If you're buying another home, most home owners want to get as much as possible out of the home they are selling.  This is normal and has a certain logic to it.  However, taken to extremes, many home owners have inadvertently hurt themselves by holding on far too long to a declining asset.  If you're moving to a more expensive home, negotiate hard to get concessions on your new home purchase. 

A 10% concession on a $200,000 home will more than make up for a 5% loss on a $100,000 home. When you factor in the additional 3 ~5 months of mortgage payments which you may be making while you wait for a buyer rather than pricing your home to Sell...well, it can run up to be quite a loss. 

5.  Spiff, Clean & Repair!

In a market with a lot of competition,  your home must look it's best if you intend to sell it at the best price the market can support.  Home buyers are looking for value and the first indicator of value is curb appeal and general appearance.  Here's a link to a Staging article which provides some tips about staging your home for sale.

6.  When You're Ready to Look...

When you're seriously ready to start looking, you might want to consider a Brand New Model rather than a Re-Sale.  You can get a lot for your money right now.  I've created a search for a variety of of areas in Grand Rapids and the surrounding communities in which BRAND NEW HOMES start at around $100,000!  NO KIDDING!

7.  Coordinate Your Exit Strategy...

There are few things more stressful than closing on your home and having nowhere to stay.  If you are buying a new home, sometimes there can be delays in obtaining permits or in completing the building process. 

Even a home which is not new can present unforeseen challenges with move out dates. It is best to give yourself a little overlap time if you need to coordinate a move to a new home or currently occupied home.  A good real estate agent will factor this into your contract negotiations.

Don't allow the purchase of your Brand New Trade Up Model to become a nightmare. At Audu Real Estate, we strive to coordinate the home purchasing and home closing process for a smooth stream-lined transaction.  If you would like to learn more about our services, please visit our website.

*this blog post was originally published in the Spring of 2008 and has been updated to reflect current market realities.  Questions about the myriad of possibilities which may be open to you can be directed to the author @ info@auduhomes.com

Copyright 2008 Audu Real Estate All Rights Reserved

When you take a look at things in black and white, you see things in a different way.  This past year, I've taken several snapshots of a variety of areas in Grand Rapids, MI and converted them to black and white images.  This slide show done with Real Estate Shows captures some of these images which are as diverse as a giant cabbage rose at the Fulton Street Farmers Market to a downtown highrise taken from and adjacent parking ramp.  To view more of my images from my walk-abouts in Grand Rapids, Mi....vist my Flickr profile.

Have you ever bought a book because of just one chapter?  Or gone to a restaurant because you just love one singularly scrumptious dish?  I have...I bet you have too.

In a world of plenty and an overwhelming abundance of choices, standing out from the crowd is an important part of business survival.  This past week, we drove downtown to check out a new restaurant offering in the Grand Rapids, Michigan area.  We'd heard about the Winchester from some friends.

The Winchester is a new gastro pub located on 648 Wealthy St. SE.  Some friends had urged us to check it out.  Stepping into the restaurant revealed the validity of the recommendation.  Every table was full; and at 5:15 there were very few spaces left at the bar.  Two women noting my plight, waved me over and began to wax rhapsodical about the place.  I looked at them closely...they weren't drunk; they were simply true fans who had found something good and wanted everyone to know about it!

As I grabbed a menu to go, I knew that I'd be back.  The fish tacos are calling my name. :) 

Today, being a 'jack of all trades' will be an increasingly difficult job to maintain.  At a time when jobs are being lost by the millions on a monthly basis, it's imperative that professionals of all varieties take the time to understand WHY certain businesses such as the Winchester are flourishing during challenging economic times.  Personally, for me it all boils down to the 'experience'.

I think that there are a few significant elements which help to determine whether an experience will be memorable for the consumer or simply fade into memory.  If a business or business professional concentrates on these issues, they will greatly increase their chances of success in any economy!

Create A First Class Experiences...

In a world overflowing with mediocrity, a first class experience stands out.  It's a little counter-intuitive, but think about it...if you had limited resources, wouldn't you want to get the best bang for your buck? The Winchester is located in a historic building which has been gutted to the core and lovingly renovated.  The owners are planning to move in to an apartment above the restaurant.  Now, that's true commitment! Those who create consistent first class experiences for their clients and offer more than they promise will be big winners.

Get Rid of Unexpected Surprises...

People don't like surprises.  There's enough stuff making folks anxious these days and most people prefer to pay for an experience which is predictable.  Witness the success of franchise organizations.  But what is lost in the typical franchise experience is uniqueness.  The thing about humans is that we are unique (hence the term individuals) and we crave unique combinations.  Any business which is able to marry the benefit of a guaranteed service proposition with a unique element or value which stands out from the crowd will benefit in a time of economic uncertainty. 

Provide A Value Proposition To Your Menu...

As I browsed the menu I picked up at the Winchester, I noted that most of the items were less than $15.  I could count on having a dinner which wouldn't break the bank!  No wonder the place was crowded and full of neighborhood regulars.  Great food and great value.  An unbeatable combo for sure.

As real estate professionals, there's much to take home from this example of a new restaurant which seems to be thriving when many businesses are fading.  It's easy to get caught up in the gloom and doom or to spend our time chasing the new formula for success when in reality, the recipe is quite simple

Consumers want a First Class Experience that Doesn't come with Unexpected Surprises and which Provides Good Value.  It's really not that complicated.

Copyright 2009  Audu Real Estate  All Rights Reserved