LANSING SHORT SALES

Short Sales Lansing MI ~ updated 4 BR, 2 bath home!

2014-04-15T09:30:00.000-07:00

6001 Annapolis, Lansing, Michigan 48911

MLS #		57318
Bedrooms		4
Baths		2

Click here for details

Description: Contact Peter MacIntyre at 517-999-2675 - www.pmachomes.com/ - Wonderful 4 BR home with numerous updates, finished lower level and great curb appeal! Short Sale, all offers are subject to lien holder approval and are considered on 1st come, 1st served basis.

Peter MacIntyre
RE/MAX Real Estate Professionals
517-999-2675
www.pmachomes.com/

Full Service Tours: Browse Here

Lansing MI Real Estate - Stunning newer built home!

2014-03-17T09:38:00.001-07:00

This 2005, well built ranch home has so much to offer starting with great location and community! You are welcomed with stunning hardwood flooring and spacious living room. The gas fireplace with granite accents is perfect for cozy evenings. Enjoy the large open kitchen and dining area. Great master suite with bath including jetted tub and walk in shower. Even more space in the lower level with egress windows and plumbed for 3rd bath. This is a great home! The stainless steel appliances are negotiable outside of the home sale. This is a bank Short Sale, all offers are subject to lien holder approval and are considered on 1st come, 1st served basis.

MacIntyre & Cowen, RE/MAX Real Estate Professionals, Grand River, founded by Peter MacIntyre and Eleanor Cowen, specializes in Residential, Luxury, Relocation and New Construction Home Sales. A consistent top producer, the MacIntyre & Cowen Realty Group is #1 in Market Share in the Greater Lansing MI area, ranked 119^th by the Wall Street Journal and part of a nationwide network of Platinum Agents. Serving the Greater Lansing MI and Mid Michigan areas including Greater Lansing, Haslett, Okemos, East Lansing, Grand Ledge, Holt, Williamston, Mason, Eaton Rapids, Dimondale, Dewitt areas and more.

We invite you to learn more about MacIntyre & Cowen Realty Group by visiting us at www.pmachomes.com View our inventory, client testimonials and request a free home evaluation. When it comes to your Greater Lansing MI home search, we offer FREE buyer services and your premier source for accomplishing your real estate goals.

Working to bring you home!

Click HERE to Access
All Greater Lansing MI area MLS listings!

Thinking of Selling? Good vs GREAT ~ A Short Sale Expert

2014-01-28T07:18:00.000-08:00

Are you thinking of selling your home? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge just like a great doctor or great accountant. You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one. Let us help. When it comes to Greater Lansing MI Real Estate MacIntyre & Cowen Realty Group is committed to providing you integrity, knowledge and professionalism; with top notch customer service, professional expertise and a solid commitment to your real estate needs.

If we were hiring an agent to sell our home today, we would require that they:

1. Understand the timetable you are dealing with

You will be moving to a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan. This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. I am not suggesting that your agent can pick the exact date for your move. You just want the agent to exert any influence they can.

2. Remove as many of the challenges as possible

It is imperative that your agent know how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.

Remember: If you have an agent who was weak negotiating with you on the parts of the listing contract that were most important to them (commission, length, etc.), don’t expect them to turn into Superman when they are negotiating for you with your buyer.

3. Help with the relocation

If you haven’t yet picked your new home, make sure the agent is capable and willing to help you. The coordination of the move is crucial. You don’t want to be without a roof over your head the night of the closing. Likewise, you don’t want to end up paying two housing expenses (whether it is rent or mortgage). You should, in most cases, be able to close on your current home and immediately move into your new residence.

4. Get the house SOLD!

There is a reason you are putting yourself through the process of moving. You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with selling. Do not allow your agent to forget these motivations. Constantly remind them that selling the house is why you hired them. If they discover something needs to be done to attain your goal (i.e. price correction, repair, removing clutter), insist they have the courage to inform you.

Make sure you let your agent know what you expect from them.

MacIntyre & Cowen, RE/MAX Real Estate Professionals, Grand River, founded by Peter MacIntyre and Eleanor Cowen, specializes in Residential, Luxury, Relocation and New Construction Home Sales. A consistent top producer, the MacIntyre & Cowen Realty Group is #1 in Market Share in the Greater Lansing MI area, ranked 119th by the Wall Street Journal and part of a nationwide network of Platinum Agents. Serving the Greater Lansing MI and Mid Michigan areas including Greater Lansing, Haslett, Okemos, East Lansing, Grand Ledge, Holt, Williamston, Mason, Eaton Rapids, Dimondale, Dewitt areas and more.

We invite you to learn more about MacIntyre & Cowen Realty Group by visiting us at www.pmachomes.com View our inventory, client testimonials and request a free home evaluation. When it comes to your Greater Lansing MI home search, MacIntyre & Cowen offers FREE buyer services and is your premier source for accomplishing your real estate goals.

We are working to bring you home! Click HERE to Access All Greater Lansing MI area MLS listings!

Article Courtesy of the KCM Crew

Enjoy country living at its finest ~ homes for sale Mason MI

2013-11-27T10:38:00.002-08:00

5586 W Columbia, Mason, Michigan 48854

MLS #		53721
Bedrooms		4
Baths		2.5

Click here for details

Click HERE for a complete list of homes for sale Mason MI

Welcome to 5586 W Columbia Rd in Mason MI. Looks are deceiving with this home! Without taking a look at the inside you would have no idea of the expansive open floor plan and space this gem has to offer! Situated on 2 amazing acres, enjoy country living at its finest while having the conveniences of schools, shopping and highway access easily accessible. Upon entering you are greeted with a nice sized living room complete with wood burning fireplace perfect for cozy winter evenings. Wonderfully updated and open kitchen that left nothing spared in consideration to space and flow. Great room with cathedral ceilings and large slider leading to a spacious deck overlooking the land ~ perfect for your entertaining needs! All 4 bedrooms on this level as well, including a new addition which adds a wonderful master suite and master bath complete with Jacuzzi tub. The lower level provides additional living space and is finished with another wood burner for added energy savings and efficiency. This home has so much to offer and is a great opportunity! Bank Short Sale subject to lender approval and sellers acceptance of lenders terms.

Peter MacIntyre
RE/MAX Real Estate Professionals
517-999-2675
www.pmachomes.com

Full Service Tours: Browse Here

Mason MI Homes for Sale 2+ Acres!

2013-11-14T12:35:00.000-08:00

5586 W Columbia, Mason, Michigan 48854

MLS #		53721
Bedrooms		4
Baths		2.5

Click here for details

For a complete list of homes for sale in Mason MI or a free market analysis of real estate in Mason MI contact Peter MacIntyre at 517-999-2675 - www.pmachomes.com/ - Welcome to 5586 W Columbia Rd in Mason MI. Looks are deceiving with this home! Without taking a look at the inside you would have no idea of the expansive open floor plan and space this gem has to offer! Situated on 2 amazing acres, enjoy country living at its finest while having the conveniences of schools, shopping and highway access easily accessible. Upon entering you are greeted with a nice sized living room complete with wood burning fireplace perfect for cozy winter evenings. Wonderfully updated and open kitchen that left nothing spared in consideration to space and flow. Great room with cathedral ceilings and large slider leading to a spacious deck overlooking the land ~ perfect for your entertaining needs! All 4 bedrooms on this level as well, including a new addition which adds a wonderful master suite and master bath complete with Jacuzzi tub. The lower level provides additional living space and is finished with another wood burner for added energy savings and efficiency. This home has so much to offer and is a great opportunity! Bank Short Sale subject to lender approval and sellers acceptance of lenders terms. Please call the office for all showings.

Peter MacIntyre
RE/MAX Real Estate Professionals
517-999-2675
www.pmachomes.com

Full Service Tours: Browse Here

Situated on 2+ Acres, Amazing Mason MI Real Estate Opportunity!

2013-11-05T14:26:00.000-08:00

Looks are deceiving with this home! Without taking a look at the inside you would have no idea of the expansive open floor plan and space this gem has to offer! Situated on 2 amazing acres, enjoy country living at its finest while having the conveniences of schools, shopping and highway access easily accessible. Upon entering you are greeted with a nice sized living room complete with wood burning fireplace perfect for cozy winter evenings. Wonderfully updated and open kitchen that left nothing spared in consideration to space and flow. Great room with cathedral ceilings and large slider leading to a spacious deck overlooking the land ~ perfect for your entertaining needs! All 4 bedrooms on this level as well, including a new addition which adds a wonderful master suite and master bath complete with Jacuzzi tub. The lower level provides additional living space and is finished with another wood burner for added energy savings and efficiency. This home has so much to offer and is a great opportunity!

MacIntyre & Cowen, Short Sale Specialists, RE/MAX Real Estate Professionals Grand River, can help you navigate this process and get your home sold. With the extension of the Mortgage Debt Relief Act until the end of 2013, now is the time to act if you are underwater in your home. We would gladly provide a complimentary Over-the-Net Home Evaluation or email alerts to Hot Buys / Foreclosed / Liquidation & Luxury Distressed Properties in the Mid Michigan areas including Greater Lansing, Haslett, Okemos, East Lansing, Grand Ledge, Holt, Williamston, Mason, Eaton Rapids, Dimondale, Dewitt areas and more. Feel free to contact us at 517.999.2675 or visit us at www.pmachomes.com today!

Owosso MI Homes For Sale

2013-11-04T14:37:00.002-08:00

This home with amazing curb appeal is located in a great area and situated on a fenced, mature and spacious lot with plenty of perennials. Solid, 3 bedroom home with hardwood floors throughout. Great garage for all the toys! Plenty of potential with cosmetic updates needed. Would be great FHA 203k allowing the buyer to update to their preferences! This is a bank short sale subject to seller's acceptance of lender terms.

MacIntyre & Cowen, Short Sale Specialists, RE/MAX Real Estate Professionals Grand River, can help you navigate this process and get your home sold. With the extension of the Mortgage Debt Relief Act until the end of 2013, now is the time to act if you are underwater in your home. We would gladly provide a complimentary Over-the-Net Home Evaluation or email alerts to Hot Buys / Foreclosed / Liquidation & Luxury Distressed Properties in the Mid Michigan areas including Greater Lansing, Haslett, Okemos, East Lansing, Grand Ledge, Holt, Williamston, Mason, Eaton Rapids, Dimondale, Dewitt, Laingsburg, Perry, Owosso areas and more. Feel free to contact us at 517.999.2675 or visit us at www.pmachomes.com today!

East Lansing MI Short Sale

2013-10-31T11:04:00.000-07:00

Welcome to 15671 Park Lake in East Lansing MI. This just listed home is a bank short sale subject to lienholders approval of bank terms. Located in a great area, close to Park Lake, this ranch home offers 2 bedrooms with a possible 3rd in the lower level. Generous sized living room with a nice deck leading out to the spacious mature lot. Updated bath and kitchen area. Lower level has rec room but could be used as a 3rd bedroom as it has an egress window and closet space. Newer roof, windows and mechanicals and shed for additional storage space if needed on property. Call us today for more details and your personal tour at 517-999-2675 or visit us at www.pmachomes.com

Mason MI Homes for Sale

2013-09-30T13:33:00.000-07:00

101 Primrose Lane, Mason, Michigan 48854

MLS #		52027
Bedrooms		3
Baths		2.5

Click here for details

Description: Contact Peter MacIntyre at 517-999-2675 - www.pmachomes.com - Welcome to 101 Primrose located in the fast growing community of Columbia Lakes in Mason MI. Offering numerous common areas, lake access, playgrounds and clubhouse -- this community has something for everyone! This 2012 custom built home features many high end upgrades and is move in ready. If you are looking for a like new home, this one is it!! Wonderful, open floor plan with spacious living room that opens to the kitchen. Enjoy the granite countertops, ample cupboard space and numerous amenities to make cooking a breeze! Very nice sunroom that could easily be used as a formal dining room, perfect for entertaining! Plenty of green space with the large backyard and amazing views of the lake! The 2nd level boasts large loft area, 2nd floor laundry and 3 very nice sized bedrooms. Master is complete with master bath and walk in closet. Numerous windows provide plenty of natural light and additional lake views. The lower level has egress windows -- all set for finishing if additional living space is desired. Don't wait on this home! So much to offer, numerous builders upgrades and priced to sell! Please call the office for all showings.

Peter MacIntyre
RE/MAX Real Estate Professionals
517-999-2675
www.pmachomes.com

Full Service Tours: Browse Here

Grand Ledge MI Homes for Sale

2013-09-23T10:46:00.000-07:00

Welcome to 1132 Degroff in Grand Ledge MI. Recently remodeled, this ranch home boasts over 1200 SF and is situated on a beautiful mature lot with fenced yard! You couldn't ask for a better location -- near schools, shopping and highway access. You are welcome with an inviting foyer complete with french doors leading to the open living room. Enjoy 3 nice sized bedrooms and redone full bath. Additional room perfect for office space and 1st floor laundry complete the main floor! This is a bank short sale. All offers are subject to lien holder approval. Please call the office for all showings.

MacIntyre & Cowen, Short Sale Specialists, RE/MAX Real Estate Professionals Grand River, can help you navigate this process and get your home sold. With the extension of the Mortgage Debt Relief Act until the end of 2013, now is the time to act if you are underwater in your home. We would gladly provide a complimentary Over-the-Net Home Evaluation or email alerts to Hot Buys / Foreclosed / Liquidation & Luxury Distressed Properties in the Mid Michigan areas including Greater Lansing, Haslett, Okemos, East Lansing, Grand Ledge, Holt, Williamston, Mason, Eaton Rapids, Dimondale, Dewitt areas and more. Feel free to contact us at 517.999.2675 or visit us at www.pmachomes.com today!

Haslett MI (Michigan) Homes for Sale

2013-09-19T06:41:00.000-07:00

Welcome to 10097 Blackberry, Haslett MI

Low Woodhull Township taxes. This Ranch sits on 1.6 Acres and offers a wide open floor plan. Updated Kitchen with premium appliances and cabinets. All new wood flooring throughout. Partially finished lower level. Large 4 seasons room over looks pond stocked with fish and fountain for airflow. 3 tier decking leads to the green house. 2.5 car attached garage along with 24x32 Pole Barn complete with heat/AC set up makes room for all kinds of potential!! This is a short sale listing and all offers are subject to lien holder approval. Please call the office at 517.999.2675 for details or visit us at www.pmachomes.com!

Wonderful 3 bedroom home in desirable Sub! A must see!

2013-09-17T12:53:00.001-07:00

Welcome to 1909 Cumberland Drive in Lansing! So much potential with this one! Great area and location in the River Forest Subdivision -- close to everything! Pride of ownership abounds in this area! This 3 bedroom home has 2 fireplaces, hardwood floors and newer carpet. The lower level could easily be finished for additional living space! Fenced back yard! This is a bank short sale. Call us today at 517.999.2675 for your personal tour or visit us at www.pmachomes.com!

Bank Approved Short Sale at $175,000! Don't miss the opportunity for a lakefront home!

2013-06-10T09:17:00.000-07:00

6660 Peninsula Way, Laingsburg, Michigan 48848

MLS #		48405
Bedrooms		3
Baths		2

Click here for details

Description: Contact Peter MacIntyre at 517-999-2675 - www.pmachomes.com - Welcome to 6660 Peninsula Way in Laingsburg Michigan. This home is on Lake Victoria on a beautiful site. You will love this lake front property. The view is Gorgeous! Thank you for viewing this video, call to schedule your personal walk-through today.

Peter MacIntyre
RE/MAX Real Estate Professionals
517-999-2675
www.pmachomes.com

Full Service Tours: Browse Here

Amazing potential in this spacious Cape situated on a large lot!

2013-06-07T11:09:00.000-07:00

Very large home with tons of potential. Needs work, but amazing potential in this spacious Cape situated on a large lot. With over 1800 square feet this 4 bedroom, 2 bath home is brimming with unlimited possibilities! Large family room, dining room, formal living room or great room and wonderful 3 seasons room make entertaining a breeze!! The lower level is partially finished and provides even more living space if needed. 2.5 car attached garage and fenced yard! Short Sale- all offers are subject to lien holder approval and are considered on 1st come, 1st served basis. Call of the office at 517.999.2675 for details or visit us at www.pmachomes.com!

This well-built home has an amazing amount of potential!

2013-05-25T10:15:00.000-07:00

Welcome to 3011 Arcadia in Lansing MI. This well-built home has an amazing amount of potential! Great area near a large park, and fenced back yard with large deck. This home has gleaming hardwood floors up and down, open kitchen/dining area with doors leading to extensive decking overlooking the yard. Upstairs offers 3 generous sized bedrooms and bath includes whirlpool with ceramic tile. Lower levels offers a large rec room with fireplace and bar area for entertaining! Full bath and laundry on this level with walk out. This is a bank short sale subject to lien holder approval. Please call the office for details at 517.999.2675 or visit us at www.pmachomes.com!

BANK APPROVED SHORT SALE! 3 BR ranch home with open floor plan on 5.74 Acres! Mason MI

2013-05-16T19:27:00.000-07:00

Welcome to 1540 S Meridian Road Mason MI. This home with a great, open floor plan has everything on one level and sits on 5.74 acres. Great area near schools, shopping and highway access. This open floor plan offers 3 bedrooms and 2 full baths. Master suite has 2 closets and master bath with double vanity. Spacious living room with slider to deck overlooking the back of the property is perfect for entertaining and enjoying the amazing views. Wood burning fireplace is perfect for cozy evenings! Dining room / Kitchen combo has nice appliances, cabinets and a great breakfast bar! Lower level provides even more space with egress windows. Plumbed for 3rd bath as well -- additional living space or bedrooms if needed. 1st floor laundry and large 2.5 car garage complete this home. 2 of the 5.74 acres are currently being hayed. This is a bank Short Sale- all offers are subject to lien holder approval and are considered on 1st come, 1st served basis.

Short Sale vs Foreclosure, Credit Score Impacts

2013-05-03T08:59:00.000-07:00

It is probably safe to assume that most consumers like to work with folks they know can be trusted. In Real Estate, like some other businesses there are those that can always be counted on for delivering great advice and others that only care about their own pocket book.

I always tell people some of the best Real Estate agents are those that don’t NEED to make a sale! It makes perfect sense because an agent that NEEDS business is far more likely to tell a buyer or seller something they want to hear rather than the truth.

Short sales unfortunately are a specialized Real Estate transaction where information is often times bandied about with no basis of fact. Many Realtors blindly go around telling people in financial distress that a short sale is better for their financial future because their credit score will not be impacted like going through a foreclosure.

Folks this could not be further from the truth! While there are certainly advantages of pursuing a short sale vs foreclosure, credit scoring is NOT one of them. There will be plenty of Realtors that will read this and argue with me telling me I am wrong.

As a Realtor who is tech savvy and social media connected you will see many of my articles in places such as Linkedin, Twitter and other Real Estate forums.

They will see some of my short sale articles and flat out tell me that I have incorrect information. When I mention the credit scoring impact of a short sale compared to a foreclosure is just about the same they scowl in disbelief. They will tell me I don’t know what I am talking about because they just learned differently at some short sale course their local Real Estate board was putting on. At this point I will be laughing because the people that teach these courses are usually Realtors that couldn’t make it in the business. They teach this nonsense because it is propaganda that helps get Realtors more business.

By now you are probably thinking how do I know the credit scoring impact is similar in these two financially stressful events. You have every right to be wondering! I know because I go right to the source. My FICO is the governing body for credit scoring including what happens in both a short sale and foreclosure.

Short sale vs foreclosure credit scoring impacts

Since I am often getting challenged on the credit scoring impacts by other Realtors and get asked all the time by my clients, I am going to share a very interesting study that was conducted by Fair Issac corporation.

The FICO study took various types of mortgage delinquencies on three credit bureau profiles of consumers that had scores of 680, 720 and 780, respectively. The study focused on consumers whose credit characteristics (e.g., utilization, delinquency history, age of file) were typical of the three score points considered. All of the consumers had an active currently-paid-as-agreed mortgage on file.

Results of this credit scoring study are shown below. The first chart shows the impact on the credit score for each stage of delinquency and the second shows how long it takes the score to fully “recover” after the fact including a short sale or foreclosure.

What you can easily see by this study is that there is a negligible difference in credit scoring when comparing a foreclosure or short sale. While it seems unfair, those that had a higher credit score to start will see a greater scoring drop. In addition, the higher starting score, the longer it takes for the score to fully recover.

While there is a minimal difference in scoring impact between moderate and severe delinquencies, there may be a significant difference in time required for the score to recover completely.

These statistics are right from the guys that make credit scoring. They are not opinions. This is actual data that was put together and sourced by FICO themselves.

Benefits of a short sale vs foreclosure

So what are the benefits of going through a short sale rather than letting a lender foreclose on your property? The biggest advantage is that you will be able to buy another home in the future a lot quicker than you would with a foreclosure. Generally speaking the turnaround time for getting another loan after completing a short sale is two to three years. In a foreclosure it is typically five to seven years. There are a number of circumstances that can affect the time frame including whether the loan is FHA, Fannie Mae or Freddie Mac. For a complete financing guide see buying a home after short sale or foreclosure.

One of the other big factors you need to consider is your employment status. There are a number of large companies that will not hire a new employee that has a foreclosure on their resume. While this may not seem fair with all the financial turmoil that has taken place over the last five years, employers look at a foreclosure as a black mark on your record. In other words when you short sale a property you are owing up to a financial commitment. In a foreclosure you are walking away and taking no responsibility for your debt.

The last reason why more and more will choose a short sale over a foreclosure is just the sheer embarrassment of going through a foreclosure proceeding. In some states an auction is held right on the front lawn of the property. Who wants to lose their home and then have salt rubbed in the wound by watching a bunch of buyers compete over it. This is an unsettling experience for most.

The goal of almost anyone that goes through a short sale or foreclosure will be to improve their financial stability moving forward. Of course improving the impact a short sale or foreclosure had on their credit scores will typically be one of the first areas that people look at once they are back on their feet. There are certain things you can do to help fix your finances after a short sale or foreclosure that are covered in this helpful article.

Unfortunately, sometimes people just don’t realize they have options and just lose their home to foreclosure. Many have never taken the time to do any research and just assume there are no alternatives. A short sale can be a great alternative for some home owners – best of luck if you are one of them!

Short sales are difficult transactions that are critical to have the right Realtor representing you. Do not make the mistake of picking a Real Estate agent that does not have experience closing short sale transactions.

Article courtesy of Bill Gassett. The above Real Estate information on Credit scoring impacts of short sale vs foreclosure was provided by Bill Gassett, a Nationally recognized leader in his field.

PRE APPROVED EAST LANSING SHORT SALE!

2013-04-19T06:18:00.000-07:00

Honey Stop The Car. Location is key to this 2 story that has been updated in the Ramblewood Subdivision. Great area near MSU, East Towne Center and highways. 3 generous sized bedrooms, nice family room, den area with wood burning fireplace overlooking nice sized fenced yard with mature trees. Lot that backs up to a park and feels like you are in the the country within minutes of MSU. Finished lower level. Kitchen has been updated with all new appliances, nice eating area overlooking the backyard. Partially finished lower level, 2.5 car att garage, new water heater. Appliances stay including washer and dryer. Run, don't walk to this one! Short sale- all offers are subject to lender approval and are considered on a first come, first served basis. Call the office for details at 517.999.2675 or visit us at www.pmachomes.com!

JUST LISTED SHORT SALE! SPACIOUS, WELL MAINTAINED & FULL OF CHARACTER!!

2013-04-12T06:03:00.000-07:00

Welcome to 211 Elvin Court in Lansing, MI. This spacious home has a lot to offer. Well maintained home with lots of character. Lots of natural hardwood floors, trim and even a beamed ceiling in Dinning area. This home has lots to offer, from updated mechanicals plus! Real must see if you need space. In a great area near Sparrow hospital and some really nice homes all around it. The yard is fenced in for the pets. This is a Bank Short Sale.

UPDATED RANCH WITH OPEN FLOOR PLAN & 2 GARAGES!!

2013-03-22T11:20:00.001-07:00

Welcome to 346 West Main Street in Elsie MI. This home was first redone in 1986 and again just recently. Open floor plan with large kitchen and spacious island. Formal dining and living area with gleaming hardwood floors. Lots of updates -- too long to list! 2 detached garages for all the toys! This is a bank short sale subject to lender approval and sellers acceptance of bank terms. Call the office at 517.999.2675 for details or visit us at www.pmachomes.com

MacIntyre & Cowen, Short Sale Specialists, RE/MAX Real Estate Professionals Grand River, can help you navigate this process and get your home sold. With the extension of the Mortgage Debt Relief Act until the end of 2013, now is the time to act if you are underwater in your home. We would gladly provide a complimentary Over-the-Net Home Evaluation or email alerts to Hot Buys / Foreclosed / Liquidation & Luxury Distressed Properties in the Mid Michigan areas including Greater Lansing, Haslett, Okemos, East Lansing, Grand Ledge, Holt, Williamston, Mason, Eaton Rapids, Dimondale, Dewitt areas and more. Feel free to contact us at 517.999.2675 or visit us at www.pmachomes.com today!

Americans in ‘Underwater’ Situation' WE CAN HELP!

2013-03-08T05:44:00.001-08:00

With home values falling dramatically from 2006 boom prices, many homeowners have found themselves in what is called a ‘negative equity’ or ‘underwater’ situation. This means the value of their home is currently less than the mortgage amount on that home.

Many of these homeowners have been ‘locked’ into their houses because they were unable to sell it without bringing cash to the closing table. The good news is this situation is improving as prices begin to rise.

We are not saying that this challenge is over. We just have to look at what the experts are saying to realize we still have a long way to go.

Zillow Chief Economist Dr. Stan Humphries recently stated:

“Negative equity is still very high, and millions of homeowners have a very long way to go to get back above water, even with current robust levels of home value appreciation in most areas. As a result, negative equity will remain a major factor in the market for the foreseeable future.”

Anand Nallathambi, CEO of CoreLogic, in their latest Negative Equity Report:

“With nearly one quarter of borrowers still underwater we have a long way to go.”

However, the situation is improving. The recent Zillow Negative Equity Report revealed:

Negative equity continued to fall in the fourth quarter of 2012, dropping to 27.5 percent of all homeowners with a mortgage, compared with 31.1 percent one year ago.
Almost 2 million American homeowners were freed from negative equity over the course of the year.
Approximately 13.8 million homeowners with a mortgage were in negative equity, or “underwater,” at the end of the fourth quarter, owing more on their mortgages than their homes are worth. That was down from 15.7 million in the fourth quarter of 2011.

What does the future hold?

Anand Nallathambi, president and CEO of CoreLogic, sees the situation improving:

“As we look ahead into 2013, we expect to continue to see more borrowers’ escape the negative equity trap and that will be a strong positive for the housing market specifically and the broader economy generally.”

Zillow Chief Economist Dr. Stan Humphries agrees:

“As home values continue to rise and more homeowners are pulled out of negative equity in 2013, the positive effects on the housing market will be numerous. Freed from negative equity, homeowners will have more flexibility, and some will likely choose to list their home for sale, helping to ease inventory constraints and moderating sometimes dramatic, demand-driven price increases in some markets.”

Negative equity is still a challenge to a full housing recovery in this country. However, things will continue to improve as prices appreciate.

Article courtesy of The KCM Crew on February 26, 2013.

HUGE WINDOW OF OPPORTUNITY FOR SELLERS IN LANSING MI AND GREATER MID MICHIGAN

2013-03-01T06:00:00.000-08:00

HUGE WINDOW OF OPPORTUNITY FOR SELLERS IN GREATER LANSING

AND MID MICHIGAN AREAS!!

Inventory is at its lowest level since the real estate boom 8 years ago. At the same time, demand is up. If you are thinking about selling your home –
do not hesitate!

Click here for a free market analysis!

What's My Home Worth?

www.pmachomes.com today!

1312 LENORE AVE, LANSING MI, Homes for Sale Lansing MI

2013-02-15T06:43:00.000-08:00

1312 Lenore Avenue, Lansing, Michigan 48910

MLS #		44681
Bedrooms		3
Baths		1

Click here for details

Description: Contact Peter MacIntyre at 517-999-2675 - http://www.pmachomes.com -Welcome to 1312 Lenore Avenue in the popular Colonial Village neighborhood. This 3 bedroom home shows real pride of ownership. Near schools, shopping and great highway access! Home has many updates! Hardwood flooring throughout. All appliances stay with the home including washer and dryer. Please see attachment for a list of all updates in the last 9 years. This is a bank short sale subject to lender approval. Please call the office for all showings.

Peter MacIntyre
RE/MAX Real Estate Professionals
517-999-2675
www.pmachomes.com

Full Service Tours: Browse Here

WHAT EXACTLY IS A SHORT SALE?

2013-02-08T12:29:00.000-08:00

A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not a new practice; banks have been doing short sales for years. Only recently, due to the current state of the housing market and economy, has this process become a part of the public consciousness.

To be eligible for a short sale you first have to qualify!

To qualify for a short sale:

Your house must be worth less than you owe on it.
You must be able to prove that you are the victim of a true financial hardship, such as a decrease in wages, job loss, or medical condition that has altered your ability to make the same income as when the loan was originated. Divorce, estate situations, etc… also qualify. There are some exceptions to hardship now, but for the most part the bank or investor will need to verify some type of hardship.

Now that you have a basic understanding of what a short sale is, there are some huge misconceptions when it comes to a short sale vs. a foreclosure. We take the most common myths surrounding both short sales and foreclosures and give a brief explanation. LET’S BUST SOME MYTHS!!

1.) If you let your home go to foreclosure you are done with the situation and you can walk away with a clean slate. The reality is that this couldn’t be any farther from the truth in most situations. You could end up with an IRS tax liability and still owing the bank money. Let me explain. Please keep in mind that if your property does go into foreclosure you may be liable for the difference of what is owed on the property versus what is sells for at auction, in the form of a deficiency balance! Please note this is state specific and in most states you will be liable for the shortfall, but in some states the bank may not always be able to pursue the debt. Check your state law as it varies widely from state to state.

Here is an example of how a deficiency balance works:

If you owe $200,000 on the property and it sells at auction for $150,000, you could be liable for the $50,000 difference if your state law allows it.

Not only could you be liable for the difference to the bank, but in some situations you could also be liable to the IRS! Although there are exemptions (mostly for principle residences) under the Mortgage Debt Forgiveness Act, there are times when you could be taxed on both a short sale and a foreclosure, even in a principle residence situation. Since the tax code on this is a little complicated and I am not a CPA, I advise always talking to a CPA when in this situation as you are weighing your options. Banks and the IRS can go as far as attaching your wages. Not to mention if you let your home go to foreclosure you will have that on your credit, as well.

Guess What? A short sale can alleviate your liability to the bank, in most situations. There are also exceptions to this, but in most cases banks are releasing homeowners from the deficiency balance on a short sale.

2.) There are no options to avoid foreclosure. Now more than ever, there are options to avoid foreclosure. Besides a short sale, loan modifications along with deed in lieu are also examples of the many options. In most cases (but not all) a short sale is the best option. Either way, there are more options today than there have ever been to avoid foreclosure.

3.) Banks do not want to participate in a short sale, or, it is too hard to qualify for a short sale. Banks would rather perform a short sale than a foreclosure any day. A foreclosure takes a long time and creates a huge expense for the banks; a short sale saves both time and money. In working with some of the biggest lenders and servicers in the country they have told me that on average they net 17-25% more on a short sale than on a foreclosure. A testament to this is the financial incentives now being offered by banks, and how much the entire process has recently changed to try and streamline the process for all parties. Banks more than ever welcome short sales. Qualifying for a short sale is easier than you think, you need to have a true financial hardship, or a change in your finances and your house has to be worth less than what you owe on it. Not only do consumers, but banks also now have government incentives to participate in short sales.

4.) Short sales are not that common. At this present time, short sales range from 10-50 % of sales in various markets and it is predicted that in 2013 we will have more short sales than any other year, to date. One of the biggest reasons is that MHA(Making Home Affordable expires December 2013). Many of the Government incentives like HAFA, will expire the end of this year. Due to economic changes in the last few years, this is something that is affecting millions of Americans. Short sales are in every market, and are not just limited to any particular income class. This has affected everyone from all facets of life. A short sale should be looked at as a helpful tool, not a negative stigma. That is why the government is offering programs that actually pay consumers to participate in short sales. It is not just affecting one community; it is affecting communities and consumers across the nation.

5.) The short sale process is too difficult and they often get denied. Though the short sale process is time consuming; it is not as difficult as the media would have you believe. The problem is that most short sales are denied because of a misunderstanding of the process. It is true that if the short sale process is not followed correctly there is a good chance of getting denied. An experienced agent knows how to avoid this. Short sales require a lot of experience, and a special skill set. If you are looking to go the option of a short sale make sure your agent is skilled and experienced in this area.

6.) Short sales will cost me money out of pocket. A short sale should not cost you any out of pocket money. In fact, you could get between $3000-up to $30,000 to participate in a short sale. In many ways, a short sale may put you in a better financial position than prior to the short sale. Almost every short sale program now has some type of financial incentive for the home owner, as long as it is a principle residence, and we are even seeing relocation money being paid on some investment/second homes. As a seller of a property you should never have to pay for any short sale cost upfront to any professional service. Realtors charge a commission that is paid for by the bank. In most communities there are also non-profits and HUD counselors who can help you with foreclosure prevention options for free. The only potential cost you could incur is if the bank would not release you from a deficiency balance in the short sale, which is happening less and less now.

7.) If I am behind on my payments, I can perform a short sale any time. The farther you get behind on your payments, the harder it is to get a short sale approved. The closer a property gets to a foreclosure the harder it is to convince the bank to perform a short sale. As they get closer to a foreclosure sale more money is spent, thus deterring them from doing a short sale. If you think you need to perform a short sale, time is of the essence; the sooner you start the process, the better. Waiting too long can trigger the ramifications of a foreclosure, losing the ability to do a short sale as a viable option.

8.) I have already been sent a foreclosure notice so I can’t perform a short sale. For the most part just because you received a foreclosure notice or notice of default it does not mean that you do not have time to perform a short sale. The timeline and specifics do vary from state to state, but having done short sales all over the country, I have seen banks postpone a foreclosure to work a short sale option as close as 30 days prior to the scheduled foreclosure auction, but the longer you wait the less chance you have. If you have received a legal foreclosure notice, please reach out to a professional right away. The longer you wait, and the closer you get to foreclosure, the fewer options you have. If you have received a notice to foreclose this means the bank is filing paperwork and starting the process to take legal action to repossess the house. You still have time at this point to prevent foreclosure, but do not hesitate! The closer you get to the foreclosure date the harder it becomes to negotiate with the bank for whichever option you choose.

9.) I was denied for a loan modification, so I know I will get denied for a short sale. Short sales and loan modifications are handled by two separate departments at the bank. These processes are totally different in approval and denial. If you got denied for a modification you can still apply for a short sale; in some cases you can get a short sale approved faster than a loan modification, as some loan modifications are denied because they cannot reduce the loan low enough based on the consumers income.

10.) If I go through a short sale I cannot buy another house for a long time. The time to buy another house depends on your entire credit picture and can vary from 2-3 years. Fannie and Freddie just came out November first and said a homeowner may be eligible two years after a short sale to repurchase. There are even a few FHA programs that allow for a purchase sooner than that, but the guidelines are fairly strict. Some regional and local banks will finance 16-18 months after a short sale, but the interest rate will more than likely be higher than one of the national chains, and this is based on their specific under writing guidelines.

These are just a few of the common myths surrounding short sales and foreclosure. With the options available today, no homeowner should ever have to go through foreclosure, and hopefully this information can help a few more homeowners think twice before walking away from their home not realizing the possible long term ramifications a foreclosure can have.

MacIntyre & Cowen, Short Sale Specialists, RE/MAX Real Estate Professionals Grand River, can help you navigate this process and get your home sold. With the extension of the Mortgage Debt Relief Act until the end of 2013, now is the time to act if you are underwater in your home. We would gladly provide a complimentary Over-the-Net Home Evaluation or email alerts to Hot Buys / Foreclosed / Liquidation & Luxury Distressed Properties in the Mid Michigan (MI) areas including Greater Lansing, Haslett, Okemos, East Lansing, Grand Ledge, Holt, Williamston, Mason, Eaton Rapids, Dimondale, Dewitt areas and more. Feel free to contact us at 517.999.2675 or visit us at www.pmachomes.com today!

Written by and courtesy of Brandon Brittingham on February 6, 2013, KCM Blog

SHORT SALE PRE APPROVED PRICE! GREAT 3 BR CONDO MINUITES FROM MSU

2013-02-01T06:35:00.000-08:00

Great 3 BR condo located on the Scenic Corridor of Forest Road. Just minutes from Michigan State University, Downtown Lansing and all major highways. Short sale pre approved price by first lender. All offers are subject to lien holder approval and are considered on 1st come, 1st served basis. Please call the office at 517.999.2675 for details.

MacIntyre & Cowen, Short Sale Specialists, RE/MAX Real Estate Professionals Grand River, can help you navigate this process and get your home sold. With the extension of the Mortgage Debt Relief Act until the end of 2013, now is the time to act if you are underwater in your home. We would gladly provide a complimentary Over-the-Net Home Evaluation or email alerts to Hot Buys / Foreclosed / Liquidation & Luxury Distressed Properties in the Mid Michigan areas including Greater Lansing, Haslett, Okemos, East Lansing, Grand Ledge, Holt, Williamston, Mason, Eaton Rapids, Dimondale, Dewitt areas and more. Feel free to contact us at 517.999.2675 or visit us at www.pmachomes.com today!