Medical financing  continues to enjoy the best loan options in the business.  Lenders continue to "salivate" over doctors, dentist, and veterinarians.  For example, 120% financing on purchases and up to 90% on construction transactions still exist. A lot of doctors are surprised to hear this, especially in regards to construction financing, as most banks are currently no longer considering construction loans.  However, there still are a handful of national, non-depository banks and lenders that continue to lend on ground up construction.  One of the interesting things about both purchase or construction financing for medical practitioners is the ability to roll in other non real estate components into the loan.  For example, say you where considering purchasing an office condo, which on... 02/14/2011

2011 Forecast Series - Birmingham-Bloomfield Chamber of Commerce Robert J. Pliska named speaker for the 2011 - Birmingham Bloomfield Chamber of Commerce Forecast Series on Real Estate.  See http://bit.ly/gLB8Wd The Economic Forecast will be held Thursday, February 10 from 11:30 to 1:30, the Film Forecast will be held Thursday March 10, 2011 form 7:30 - 9:30 am, The Government Forecast will be held April 21, 2011 from 11:30 to 1:30 pm and the Real Estate Forecast will be held Thursday, May 12, 2011 from 7;30 to 9:30 am.  All meetings will be at the Townsend Hotel in downtown Birmingham, Michigan. Please register now for great networking and updates!  Call the Birmingham Bloomfield Chamber today - 248-644-1700.  01/22/2011

 Birmingham MI Short sale tip #59, "What do you mean I still owe money?"Mike Sher (248) 644-4700 x242 Max Broock Realtors Certified Distress Property Expert Often Short Sale sellers are told that in a Short Sale you will not have to pay the bank back any money.  Some times that is true and sometimes it is not.  Remember when you got the loan you signed both a mortgage and a note.  The MORTGAGE is a lien on the home so if you default on the note, the bank has the right to seize the home as collateral.  While the NOTE; is a promise to pay the full amount of the loan no matter what.  A Short Sale is when the lender releases the lien/mortgage and the borrower/seller then can sell the home for less than the note value.  BUT, your lender does not always release the amount owed. The borrower m... 01/20/2011

We are going to break down the current SBA loan rates, into two categories, 1. on SBA 7a loans and 2. on SBA 504 loans.  Both are very different so we will describe what the current rates are separately, and give a brief description of the programs themselves. SBA Loan Rates on 7a Loans The vast majority of banks tie their 7a loans to Prime Rate, which is currently at 3.25%.  The banks margin is normally 2.75%, so the Effective Rate for the borrower is currently at 6%.  It is very uncommon in this market for a bank to offer an effective rate less than 6%.  Most banks are reluctant to lend, so if they do they are currently maxing out their margin. Also, the SBA 7a loan,  is used for the purchase or refinance of commercial real estate, business goodwill, equipment, debt consolidation (lim... 01/18/2011

This discussion is regarding commercial mortgage rates for loan amounts between $500,000 - $10,000,000 and for owner user type loan requests as well as non-multifamily investment properties, such as office, retail, and industrial as well as special purpose properties, such as restaurants.  The good news is that rates are still at very low levels when looked at historically, however many of the indexes that commercial mortgages are tied to have increased dramatically in the last 30-45 days.  For example the LIBOR SWAP Rates have jumped up between 40 and 75 basis points in this time period. No one really knows why this is occurring as the FEDS are doing all in their power to reduce and maintain low commercial loan rates.  You may have heard of the Quantitative Easing measures that have be... 01/17/2011

Market Analysis & Statistics For Birmingham MI December 2010December 2010 median sale prices increased 03% from November 2010 & a 30% increase # of homes sold. Private owned homes median price decreased 24% in December 2010 from November 2010.  Bank owned homes median price decreased 24% in December 2010 from November 2010. December 2010 median sale price decreased 09% from December 2009. Yr ending December 2010 median sale price compared to yr ending December 2009 decreased 06%.  Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.Active & Solds December 2010239 listings:        40 Sold listings:    Average List Price    $648,395    Average Sold Price    $308,077Median List Price    $425,000    Median Sold Price    $243,500Highest List Price    $6,90... 01/17/2011

Market Analysis & Statistics For Birmingham MI November 2010November 2010 median sale prices decreased 09% from October 2010 & a 04% increase # of homes sold. Private owned homes median price increased 29% in November 2010 from October 2010.  Bank owned homes median price increased 38% in November 2010 from October 2010. November 2010 median sale price decreased 12% from November 2009. Yr ending November 2010 median sale price compared to yr ending November 2009 decreased 02%.  Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.Active & Solds November 2010240 listings:        28 Sold listings:    Average List Price    $650,086    Average Sold Price    $366,279Median List Price    $439,445    Median Sold Price    $237,250Highest List Price    $6,900,0... 01/17/2011

Commercial Finance Advisors, Inc is pleased to announce the recent closing of an SBA 504 Loan in Indianapolis, Indiana.  This was a purchase transaction at $1,550,000 for a 45,000 square foot, 2 story class A office building.   90% loan to value financing was structured, with a 5 year reset loan.  Meaning the rate re-fixes itself every 5 years until the loan is paid off - no balloon.  Total time from application to funding was 44 days.  "This was an interesting transaction as the borrower was very pushed for time.  He had submitted his medical office loan to three major banks that all dragged their feet, while his due diligence period ran out.  By the time we received the loan request he was very much under the gun and the seller threatened multiple times to not extend the purchase agre... 01/13/2011

Oakland County Home Owner! Did you know nine trillion dollars of home equity has been erased over the last four years? Or that the total number of foreclosures has jumped at least 40% per year since 2006? Economists expect another record number of foreclosures in 2011! In Oakland County Distressed sales comprised 54% of the entire market for the year of 2010.  Realcomp Data The good news is that I can help. As a CDPE, I have received extensive training to help homeowners who are struggling with their mortgage payments by showing them alternatives to foreclosure. With your help, I can restore hope for those who need it most. For more information on foreclosure alternatives, you can download the free report I've created at: http://www.ShortSaleOaklandCounty.com If you or someone you know ... 01/04/2011

17th Annual Pumpkin Patch in Birmingham Michigan 2010 was hosted by the Junior League and held on the terrace of The Community House on Merrill St. and adjacent to the newly revamped Shain Park. Activities included moon bounces, healthy refreshments, fantastic crafts, face painting, cookie decorating, pumpkin bowling and other spooktacular games for children of all ages. The Community House Dance Academy performed and Baldwin Library had a non-scary story time and magician. Lots of cute costumes as seen in the video of the event. Following the party was the 74th Annual Birmingham Halloween Parade presented by the Birmingham Bloomfield Chamber at 4 p.m. at the corner of Bates and Martin. Looking to buy or sell a home in or around Birmingham MI, visit our new website about Birmingham Mich... 11/23/2010

The Birmingham Farmers Market’s 2010 season came to a close with an end of Season Celebration. Children were invited to attend in their Halloween costumes and participate in activities like: Petting live farm animals, corn shelling, live entertainment, balloon creations and more. Also, for the first time ever hay rides were a part of the End of the Season Celebration at the Birmingham MI Farmer’s Market. To see the opening day for 2010 in May click here.   Visit our new website about Birmingham Michigan Homes to learn more about Birmingham & search for homes. Birmingham Michigan Realtor selling Oakland County Real Estate.  TishHouse sells Houses – selling Real Estate in Southeastern Michigan with RE/MAX Showcase Homes in Birmingham, Michigan.  Helping People in a challenging market by s... 11/23/2010

Market Analysis & Statistics For Homes Sold Birmingham MI October 2010 October 2010 median sale prices decreased 09% from September 2010 & a 19% increase # of homes sold. Private owned homes median price decreased 05% in October 2010 from September 2010.  Bank owned homes median price decreased 63% in October 2010 from September 2010. October 2010 median sale price decreased 08% from October 2009. Yr ending October 2010 median sale price compared to yr ending October 2009 stayed the same.  Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Solds October 2010 259 listings: 27 Sold listings: Average List Price $645,510 Average Sold Price $320,570 Median List Price $439,900 Median Sold Price $260,000 Highest List Price $6,900,000 Highest Sold ... 11/16/2010

SOCIAL MEDIA - IDENTIFYING THE OPPORTUNITIES   BY: Robert J. Pliska, CRE, CPA LinkedIn - www.linkedin.com/in/rpliska Twitter - http://twitter.com/rpliska   Recently, I was asked to give a social media presentation to the Counselors of Real Estate of the National Association of Realtors at their national convention recently held in Philadelphia.  The topic:  Social Media - Identifying the Opportunities!  This was to a group of very experienced real estate professionals who were questioning the benefits to them if they got involved.  Attendees were highly complimentary, commenting on the program's relevance and content.    Attached below is my outline which may be helpful to you on your decisions on how much time you should spend in social media and the rate of return for your time spent.... 11/03/2010

Short Sale Birmingham / Bloomfield Eagle article by Mike Sher, Max Broock Realtors, Certified Distress Property Expert Mike Sher team has closed over 50 short sales in the past 24 months.  We are fighting foreclosure one closing a time.  Saving 100's of people from foreclosures! We would be glad to help you. First you must learn what a short sale is. Please read my article below and check out www.ShortSaleOaklandCounty.com to learn more. Contact to at 248 644-4700 x242 or at ShortSale@MikeRealtor.com   10/21/2010

Market Analysis & Statistics For Birmingham MI September 2010 September 2010 median sale prices decreased 15% from August 2010 & a 31% decrease # of homes sold. Private owned homes median price decreased 20% in September 2010 from August 2010.  Bank owned homes median price increased 49% in September 2010 from August 2010. September 2010 median sale price increased 17% from September 2009. Yr ending September 2010 median sale price compared to yr ending September 2009 increased 05%.  Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.   Active & Solds September 2010 273 listings:   22 Sold listings:   Average List Price $685,730 Average Sold Price $360,312 Median List Price $485,000 Median Sold Price $287,000 Highest List Price $5,900,000 Highest Sol... 10/11/2010

Market Analysis & Statistics For Birmingham MI August 2010 August 2010 median sale prices increased 05% from July 2010 & a 09% increase # of homes sold. Private owned homes median price decreased 03% in August 2010 from July 2010.  Bank owned homes median price decreased 10% in August 2010 from July 2010.  August 2010 median sale price decreased 04% from August 2009. Yr ending August 2010 median sale price compared to yr ending August 2009 increased 01%. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Solds August 2010 300 listings: 32 Sold listings: Average List Price $692,739 Average Sold Price $516,388 Median List Price $465,000 Median Sold Price $337,375 Highest List Price $6,395,000 Highest Sold Price $4,800,000 Lowest List Price $6... 10/11/2010

I was looking at our Metro Detroit market blog today, how boring. We are beating a dead horse in Detroit, all we have been blogging about are sales price increases. I guess when you are so fired up about something so unexpected you can't help but dwell on it. Prices are up in Metro Detroit over 12% third quarter of 2010 vs. third quarter of 2009. Why do you care if you live somewhere else? Because we were the first in and the hardest hit! We are coming back around, well off the lows on price and thinking we could continue a solid appretiation for while. Property is just so cheap, infratsructure is good, labor is relatively cheap, and shoot we have global warming on our side (did anyone see the blurb in Wired magazine?). Agents in Detroit rock. They know how to move property and benefit ... 10/07/2010

Birmingham , MI Short Sale Seminar September 28th 6pm 2010. Mike Sher Bloomfield/Birmingham/West Bloomfield Short Sale-Foreclosure Prevention Seminar. This seminar will cover the basics on foreclosure avoidance with Short Sales.  Mike Sher has helped dozens of home owners avoid foreclosure.  He is a Short Sale instructor for the Michigan Association of CPA's, Metropolitan Consolidated Association of Realtors, Real Estate One and Max Broock Realtors.  Mike has also been a expert panelist for the Real Investors of Oakland County and the Financial Planners Association of Michigan.  Mike is a guest Short Sale expert for Fox 2 News and is often a contributor to the Birmingham Bloomfield Eagle and West Bloomfield Beacon.  Topics to be covered: Pros and cons of Foreclosure and Short Sale Bankr... 09/27/2010

Market Analysis & Statistics For Birmingham MI July 2010 July 2010 median sale prices increased 25% from June 2010 & a 36% decrease # of homes sold. Private owned homes median price increased 17% in July ‘10 from June 2010.  Bank owned homes median price decreased 20% in July 2010 from June 2010.  July 2010 median sale price increased 08% from July 2009. Yr ending July 2010 median sale price compared to yr ending July 2009 decreased 01%.  Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.   Active & Solds July 2010 299 listings:   29 Sold listings:   Average List Price $656,840 Average Sold Price $345,452 Median List Price  $460,000 Median Sold Price  $320,000 Highest List Price $5,900,000 Highest Sold Price $759,000 Lowest List Price $64,900 Lowest... 08/20/2010

Market Analysis & Statistics For Birmingham MI June 2010 June 2010 median sale prices increased 21% from May 2010 & a 13% increase # of homes sold. Private owned homes median price increased 39% in June ‘10 from May 2010.  Bank owned homes median price decreased 06% in June 2010 from May 2010.  June 2010 median sale price increased 03% from June 2009. Yr ending June 2010 median sale price compared to yr ending June 2009 decreased 01%.  Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.   Active & Solds June 2010 327 listings:   45 Sold listings:   Average List Price $668,809 Average Sold Price $444,262 Median List Price  $465,000 Median Sold Price  $240,000 Highest List Price $5,900,000 Highest Sold Price $2,450,000 Lowest List Price $57,900 Lowest ... 08/20/2010