Maybe you noticed my name on the front page of the Free Press this morning identifying me as a Livonia Realtor...yes it is me they're writing about but I am not a Livonia Realtor....really.  As most of you know we transferred our licenses to National Realty Centers at the end of last year.  And YES, the company is headquartered in Livonia.  Of course our practice is still right where it has always been in Oakland County!  I do represent Titanium Solutions and I am 'boots on the ground' for a number of national mortgage companies attempting to help struggling local homeowners.  I meet with a few homeowners each week trying to help them find a way to work with their mortgage servicer to allow them to stay in their home.  As a CDPE (Certified Distressed Property Expert) I understand how important this work is.  While it doesn't really take much time away from my regular real estate schedule it does have it's own special rewards for me as a Realtor.  Look for more of this type of help for homeowners in the near future.  Also, if you know someone in trouble with their mortgage, I might know how to help so please tell them to call me.

Many of the local municipalities have funds available for homeowners under the Neighborhood Stabilization Program.  These funds are available for the purchase of principal residences and the properties must be REO's (bank owned properties that have been foreclosed on).  The funds are for down-payment assistance and you must qualify for the funds based on your household income. If you are interested in obtaining some of these funds please visit the Waterford Township website for more information.  There is only a million dollars available and when the money is gone, it's gone! We completed our Realtor application to participate in the program so we'll be approved to help you find a home if you qualify for the program.  Check out the website or call us for details.  Bernie is the lead on this program and you can always reach him at  810-459-4637 .  Watch for me good new about the real estate market coming soon! 

Our company, National Realty Centers, today, rolled out a new 'call capture' technology that will benefit each of our seller clients, agents and house-hunters in general.  Next week we will be installing a sign rider on each of our for sale signs allowing people to access the information about a listing from their cell phone while sitting in front of the house!  All you have to do is dial the toll-free number and then key in the house number and, voila, you get the information! The system will allow us to customize the message on the recording so that it more accurately describes the property.  Why do we like this program?  A couple of reasons. We really don't love proerty flyers.  They're expensive to produce and wasteful.  Second reason... now home buyers can make a 2 minute phone call from their cell and get the information they're looking for AND they can be routed to us for more information and a showing if they request.  We know that instant information is exactly what today's buyers are looking for. Watch for more information about our new VoicePad Technology.

Bernie and I were talking last night about the biggest difference in the local real estate market between last year and this year.  We decided that it was the public awareness of the 'short sale'.  A short sale is when the lender agrees to accept less than the full balance due when the property sells.  To qualify for a short sale you have to have some kind of a hardship.  Job loss, illness, divorce or payment increase on the mortgage itself all qualify as a hardship. Even though getting through the short sale process can be challenging for all parties involved it provides a way to sell the property and avoid foreclosure.  Historically, a short sale will net the lender 20% more than a foreclosure. As a result, this method of avoiding foreclosure is gaining in popularity with most lenders. As your Realtors, it's our job to first qualify the homeowner as a short sale candidate.  Because the whole process can take 4-8 weeks we need to be sure that we all agree to work together to get the job done.  We usually get two or three calls a week from someone considering a short sale. As CDPE's (Certified Distressed Property Expert) we understand what it takes to solve your short sale problem and are ready to get started whenever you are!  

The healing of the real estate market will not be easy and it will not be quick.  It begins with the introduction of a bill, H. R. 384, sponsored by the National Association of Realtors and proposed by Chairman Barney Frank. The bill would require the Treasury Department to develop a program, outside of the Troubled Asset Relief Program (TARP), to stimulate demand for home purchases and lower property inventories, by making affordable mortgages available for qualified buyers through interest rate buydowns.

NAR President Charles McMillan supported the bill by noting "that it is an important first step toward launching a real estate recovery.  Housing has always led this country out of economic downturns, and this bill recognizes that the key to bolstering the overall economy is creating stability in the real estate markets.  With foreclosure relief, improving the Hope for Homeowners Plan, and expanding TARP to support commercial real estate loans and commercial mortgage-backed securities, this legislation will help create housing stability."

Read our blog every day to see what's happening in the local and national real estate market that's important to you!