Looking for something to help you get Christmas cheer? Northville's Hometown Holiday Weekend might be the answer. Weekend events include: Holiday Lighted Parade, Friday Nov. 19 at 6:30 PM It's a Wonderful Life at the Marquis Theater, Saturday Nov. 20 7:30 PM Holiday Home Tour, Nov. 19-20, 10AM - 4PM (Call 248-347-0200 for ticket info) Christmas Market, Nov. 19-21 Oakland Press Article   When you choose Scott Petersen and The Petersen Team to handle your Canton/Plymouth real estateneeds, you choose a  Realtor® who is not just an expert, but someone who really cares about you and your family. Buying or selling a home can be a very exciting and yet stressful. We will work to achieve your goals and objectives, bringing our years of industry expertise and old fashioned "blue collar" hard wor... 11/14/2010

I've been asked a by a few clients in the Northville / Novi real estate market, the meaning of "strategic default". Simply put strategic default is when a homeowner decides that even though they can afford the home ther are currently living in, they are so far upside down on the mortgage that they'd rather walk away from the house. Here's an example: John and Sue own a home in Northville worth 300k. Their current mortgage is 450k. With an average rate of increase in a normal market, they could expect their homes value to catch up with what they owe in the next 10-12 years. Here's the delemna. Do you let your home go and take the hit to your credit for a few years. Or do you continue to pay your mortgage down until you can afford to sell it. It's really a personal decision. In a study do... 07/31/2010

  I have been on several appointments lately where the home sellers are going through multiple real estate agents and become very upset over their past selections.  Here is a few helpful hints and things to look for when selecting your Northville Michigan Real Estate Agent: 1)  Have the agent actually show you PROOF of things they have done in the past or are currently doing.  Common complaint I am hearing is they said they do this (and don't) and made all of these promises they don't keep.  A good solution is also to have a release clause put in the original paperwork just in case things do really get bad. 2)  INTERVIEW MORE THAN ONE Real Estate Agent in your area.  Try your best to let them know how much time they have and learn as much as you can as a Northville Home seller.  Remembe... 06/28/2010

This is how to bid on a Southeastern Michigan home. So what I would say to the Metro Detroit home buyer that is looking at homes don't do low ball bids, and expect to win them. Bidding on a home in this Southeastern Michigan real estate market is not easy.  It is no longer a buyers market in the better cities in the suburbs. By that I mean Plymouth, Royal Oak, West Bloomfield, Birmingham, Northville homes aren't being given away.  If the house is a decent house there will most likely be multiple buyers looking at it and very possibly multiple offers.  About 40 -50% of the "good" foreclosures are going over list price.  Yes there are a lot of low price mediocre homes in the less desirable cities.    So you and your real estate agent should know what is happening in the city you are looki... 05/31/2010

Here are some Northville, Novi, Plymouth MI home seller tips.  Uncertainty, unfamiliarity, or the unknown scares buyers.  If a buyer encounters something that is unusual to them in your house, it may cause them not to buy.  Some examples are: flat roofs (no singles) that require tar oil powered boilers tile roofs septic tanks and septic fields propane gas furnaces wells radiator heat Radiator heat or a well are not bad things.  But they scare buyers if they have never lived in a house that has a well or radiator heat.  Unfortunately their Realtor may have no experience or may be unfamiliar with the items. So if you have radiator heat, leave out a sign or have your heat bills out.  Explain how it may save the buyer money.  For example: radiator heat - more efficient and better for people... 04/07/2010

Northville Ridge subdivision Northville Michigan Northville Ridge subdivision Northville Michigan is just past Ridge Rd and just before  6 Mile Rd turns into a dirt road.  So it is west of Ridge Rd and South of 6 Mile Rd on the western edge of Northville and Wayne  County. Northville Ridge has approximately 356 homes in it.  The homes were built during the years of 2004 until 2010.  There were still empty lots in 2010 in the western most part of the subdivision.    Located within walking distance of the subdivision is a new elementary school. Which is a big bonus for anybody with kids!     The homes are mostly Colonial and Cape Cod style.  Most of the homes have brick and brick & vinyl exteriors, 2 & 3 car garages, 3-4 bedrooms, 2 + bathrooms, basements.Square footage of the homes range... 03/30/2010

How much short sale fraud is happening? I read that with the Home Affordable Foreclosure Alternatives (HAFA) program launch on April 5, 2010 there will be a rise in short sale mortgage fraud.  I hate to say it but it is already going on and nobody is stopping it as of now. Here are three examples of short sale fraud I have seen. 1.) A "investor" gets the home owner that is upside down to sign away their rights to the property.  The "investor" hires a real estate agent.  They find a buyer for the short sale.  The "investor" makes money off the deal by either buying the short sale from the bank and then quickly selling the house to the real buyer after they close the short sale with the bank.  The "investor" makes money off the misfortune of others and makes a buck without investing a dim... 03/14/2010

Here is a quick Northville Township real estate update on Stonewater subdivision.  If you notice there were three homes that sold over list price in the last six months.  One even sold $80,000 over list price.  The prices ranged from $66.84 a square foot to 154.74 a square foot.  But most of them were over a hundred dollars a square foot. My thought on what a Stonewater subdivisionis worth boils down to the condition it is in, where it is in the subdivision, square footage, the amenities and who owns it.  That is what determines what you should bid on it. Stonewater subdivision is still one of Northville premier subdivisions.  ADDRESS LIST PRICE SALE PRICE DOM SP PER SQFT SQUARE FOOTAGE YEAR BUILT 48391 BINGHAMPTON DR 260900 248000 17 66.8463 3710 2003 18417 STONERIDGE CT 379000 310000 ... 01/31/2010

you have some issues.  Yes almost all of the banks and lenders have closed the loopholes of the past.  Gone are sub-prime loans.  Gone are state loans where self-employed people could get a loan without showing any income documentation. But some rules are being stretched to get loans done.  I don't know how. No credit scores or credit scores below 620:  My clients recently closed a loan when one of the borrowers had no credit score and very little credit history.  The other borrower had credit history and a decent credit score.  They were turned down by a local lender but Di-Tech was able to get it done.  High Debt ratios:  I had one loans close where the loan officer told me the back end debt ratio was 51% on a FHA loan.  I was worried that the buyer couldn't afford the house.  I told ... 01/30/2010

Some of the houses you have picked out before were short sales.... which could take up to 4-6 months to complete....or may never be accepted by a bank.  If you don't know what a short sale is:   It is where the seller owes more than they are listing it for.  After they get an offer they take it to the bank and ask the bank to be able to sell it less than what they owe. (every once in a while a lender approves a seller for a short sale in advance of putting it on the market)  BUT THEY DON'T APPROVE WHAT THEY WILL ACCEPT USUALLY UNTIL THEY SEE THE ACTUAL OFFER  The bank doesn't put much manpower or resources towards short sales.  Sometimes one bank personnel has hundreds of short sales on their desk at any one time.   So communication is usually very poor and sporadic.  Sometimes it can b... 01/25/2010

Here is a little Michigan trivia and some fun Michigan facts. Did you know that: The world's first profession hockey team started in Houghton, MI.  It was started in 1899 and was named the Portage Lake ice hockey team. That Henry Ford wrote and published a childrens book in 1914 called "The Little White Slaver".  It was his way of exposing the dangers of smoking known at that time.                                       The State of Michigan claims to have more tree varieties than all of Europe. Before Ervin "Magic" Johnson was called "Magic" he was called "June Bug".  He was round and was very energetic like the June Bug so his neighbors called him "June Bug"  I hope you enjoyed these few Michigan fun facts and Michigan trivia.  01/01/2010

Here is the latest Stonewater Subdivision market update that is located in Northville Township Michigan. Stonewater sold homes Northville MI ADDRESS LIST PRICE SALE PRICE DOM SP PER SQFT SQUARE FOOTAGE YEAR BUILT 48189 FOUR SEASONS BLVD 799900 200000 249 43.057 4645 2009 48391 BINGHAMPTON DR 260900 248000 17 66.8463 3710 2003 18417 STONERIDGE CT 379000 310000 9 64.5833 4800 2007 48325 BINGHAMPTON DR 425000 410000 38 118.0875 3472 2000 49200 PARKSHORE CT 344900 425000 22 124.269 3420 2005 17532 WILLIAMSBURG CT 475000 476000 6 120.5063 3950 2004 48641 STONERIDGE DR DR 499000   65   3796 2000 18477 STONERIDGE CT 499000   1   4400 2006 18845 OVERLOOK TRL 489900 523000 6 124.8507 4189 2006 48687 STONERIDGE DR 649900 562000 9 129.8221 4329 2004 18393 STONERIDGE CT 650000 620000 237 127.4933 4... 11/15/2009

Stonewater subdivision Northville MI is one of Northville's most sought after subdivisions.  Here is a quick glimpse of the characteristics of the homes.  The homes in Stonewater subdivision were built by 4 or 5 builders.  Which is good because the homes don't all look the same.                                               Stonewater subdivision Northville  Twp MI has one homeowners association.   There are no fences allowed unless there is a pool.   Stonewater has approximately 443 homes in it.  The homes were built during the years of 1999 - 2008.Here are the characteristics of Stonewater homes. The homes are mostly Colonial and Cape Cod style Most of the homes have stone & brick exteriors 3 & 3+ car garages 4-5+ bedrooms 3 + bathrooms Square footage of the homes range from 3300 - 57... 10/04/2009

 Here is what is happening in the Northville real estate market.  In the last 30 days 8 Northville homeshave sold for more than the list price.  If you look at the list prices and the sold prices below you will notice that many Northville homes have sold very close to list price. Northville homes are still getting a good price.  The least expensive foreclosure sold for $36 a square foot which was very cheap.  And then the most expensive home (sold for over a million dollars) sold for $181 a square foot. Latest Northville Real estate  update ADDRESS LIST PRICE SALE PRICE DOM SP PER SQFT SQUARE FOOTAGE YEAR BUILT 119 WALNUT ST 39900 38000 55 36.7149 1035 1941 551 ORCHARD DR 130000 127500 126 79.6875 1600 1948 42431 ROBERTA ST 138533 150000 101 72.9927 2055 1966 46376 7 MILE RD 159900 1573... 09/20/2009

You have an inheritance coming.  But the problem is that is tied up in a house.  The worst thing you don't realize is that it is an old house.  Sure to you it may be mom's house, or the house your grew up in.  But to a Wayne County home buyer it is just old or just plain ugly. All the Wayne County home buyer thinks is how much money it is going to cost to replace the carpet or how much to do all the repairs.   Many of them can't afford to make the repairs.  So they won't buy your house.  So that is one less buyer for you.  Here are my tips: Paint it.  Putting fresh paint on the walls will get rid of the old person's smells.  People get turned off by the stagnant smell of an old person's home.  Get rid of grandma's  wall paper.  That will turn off people quick.                Re-carpet i... 09/08/2009

   Why do I think Northville Hills Golf Club homes in Northville Michigan is one of Northville's premier subdivisions.  Here are some of the reasons I believe you should look at homes in Northville Hills Subdivision: Northville Hills Golf Club homes surround a signature 18 hole Arnold Palmer Golf course Beautiful homes built by one of America's best home builders Toll Brothers Clubhouse featuring a pro shop, formal dining rooms, lounge, banquet facilities, resort pool, weigh room, and aerobic area. Nearby expressway access                                              It is hard to imagine this is where the old Wayne County Child Development Center and Plymouth State Home and Training School once was. The buildings stood vacant for 20 years before Toll Brothers, state, and local governme... 07/29/2009

Stonewater subdivision is located in the 48168 zip code in Northville Township MI.  It is located west of Beck Rd between 6 Mile Rd and 7 Mile Rd.  Stonewater is considered one of Northville's premier subdivisions.  Home prices once ranged from over $750,000 to almost $2,000,000.  Lately there have been a few foreclosures that sold in the $400,000 range.  With about 443 homes in the subdivision, it has a variety of homes.  There were several different builders so there are elegant homes of different styles and sizes.  There are about ten cul de sacs with homes that have larger lots than most of the subdivision.  What is nice about the the sub is there are six small lakes that total about 115 acres.  They are mostly non motorized lakes though some of them allow electric motors.  You will... 07/23/2009

We are mid way thru the year and Michigan's summer tax bills just came out so most homeowners are wondering why their Michigan property taxes are not going down.  Here is the basic scenario of what is going on.  Your Michigan property taxes can go up each year by 5% or the inflation index.  They use the lesser of the two.  So even if your Wayne County home value or Oakland County home value went down your Michigan property taxes could go up. You have to remember that it is your property taxes that run your local city and local county.  So the assessor has a vested interest in not giving up the tax dollars.  They really don't want to lower property tax assessments if they can help it.  So many Michigan cities and Counties are having budget issues.  So the property tax assessor is not low... 07/11/2009

My question back to you is........... if you were a business owner how much money and manpower would you put on a project that was going to lose you tens of thousands of dollars monthly? That's what happens with banks.  They don't have a huge department handling short sales.  The people that handle them at the bank are over worked and understaffed for the amount of Metro Detroit short sales that come through. When an short sale offer is submitted to a bank the bank asks the seller for all the information to prove that their is a financial hardship.  Some of the documents the bank requires to prove a financial hardship are: tax returns w-2s recent pay stubs financial hard letter medical records if it pertains to medical condition the banks forms Usually the seller has to be late on the h... 07/07/2009

Or am I losing it?  I guess I don't understand what some people are thinking anymore.  Metro Detroit has been hit hard but some people just don't get it.  Here are some examples of the craziness.                                                           I have a friend that has been out of a job for over a year.  My wife works at a staffing agency and a job came up that fit my friends credentials to a "T".  The recruiter talked to my friend but she "can't make it in until next week.  She has a hair appointment.   WHAT!!!!!!!!!!!  You're unemployed you can reschedule your hair appointment.  How many job interviews have you been on in the last month.   ZERO!!!! Here's another one.  Now I'm a guy so I don't quite get this one.  A realtor friend of mine is just about ready to lose her house... 07/01/2009