4 Reasons to Buy a Home This Fall

Here are four great reasons to consider buying a home today, instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights Report shows that home prices have appreciated by 3.6% over the last 12 months. The same report predicts prices will continue to increase at a rate of 5.8% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase Next Year

The Primary Mortgage Market Survey from Freddie Mac indicates that interest rates for a 30-year mortgage have recently hovered just above 3.5%. This is great news for buyers in the market right now, because low interest rates increase your purchasing power – but don’t wait! Most experts predict rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is needed to buy your next home.

3. Either Way, You Are Paying a Mortgage 

There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you’re living rent-free with your parents, you are paying a mortgage – either yours or that of your landlord.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing costs to work for you?

4. It’s Time to Move on With Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you’re buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over custom renovations, maybe now is the time to buy.

Bottom Line
Buying a home sooner rather than later could lead to substantial savings. Reach out to me to see if homeownership is the right choice for you and your family this fall.

6 Reasons You Should Never Buy or Sell a Home Without an Agent

When preparing to buy or sell a home, there is a common temptation that crosses the mind of just about everyone – completing the transaction without the aid of a real estate agent. Of course, the appeal of this idea is simply to save money, as your agent is going to take a commission as part of the transaction. However, despite the opportunity to save some money, this is one idea that you should cross off your list right away. Following are six compelling reasons why you should never complete a home purchase or sale without an agent.

#1 – Insider Access
Yes – you can download plenty of free apps on your phone which will show you real estate
listings all around your area. You can use these listings to search for a new home, and you can even use them to determine a price for selling your current home. However, the information you can track down online is only a portion of what is available to your real estate agent. The ability of a qualified agent to access all available information – including homes that may not even be listed yet – is crucial in the buying and selling process.

#2 – Connections
Real estate is a business that is all about relationships. If you connect with an agent who has been in the business for at least a few years, they are certain to know plenty of people in the area who can be of great help to you. In addition to connections with other agents, they will also know of mortgage brokers, inspectors, attorneys, and more. Home buying or selling is an involved process, and it helps to have good people on your side.

#3 – It’s Their Job
While you are working on buying or selling a home, you will almost certainly have to continue working at your current job. That means you may not have time to pay attention to your real estate transaction during the day. However, your real estate agent is being paid to do just that.
By bringing an agent on board, you will have someone who is focused on this important
purchase or sale even when you are busy doing other things.

#4 – Experience Matters
If you were to try to read a formal real estate document on your own, you would likely struggle to make sense of it – real estate has its own language, and unless you have experience, it will look like nonsense to you. With an agent, you can wade through the jargon and abbreviations to figure out exactly what is going on.

#5 – Ethical Conduct
By working with an agent who is a member of the National Association of Real Estate Agents, you can be assured that your transaction is going to be completed in accordance with generally accepted ethical conduct standards. With a transaction as large as buying or selling a home, you need to make sure everything is done correctly.

#6 – Negotiating Skills
Negotiations are an essential part of buying or selling a home. When buying, you want to pay as little as possible for the home of your dreams. Of course, when selling, you want to get as much as possible in the sale. Whichever side you happen to be on, you will have a much better chance of coming out with a great deal when you have an experienced and skilled negotiator on your side.

Corian vs. Granite

While granite is unlikely to ever go out of style, the choice for countertop surfaces extends far beyond granite and includes synthetic surfaces like Corian, natural rocks like marble, and engineered quartz like Silestone. Granite, a natural rock, is extremely hard and durable, despite being porous. Corian is a homogenous, nonporous surface that is manufactured by DuPont; it is stain resistant and available in over 100 different colors. 

This comparison examines the differences between granite and Corian in terms of cost, durability, appearance, maintenance required, installation and other pros and cons.

Origin DuPont, a company known for construction products like nylon, invented the material used in Corian in the 1960s. Corian is made from a combination of natural minerals and high quality acrylics. Acrylic resin is combined with aluminum trihydrate in the manufacturing process used to make Corian. 


Granite, a type of igneous rock, is formed when molten lava cools under the Earth’s surface. It contains minerals, like quartz, biotite mica, feldspar, and occasionally amphibole. The stone is blasted out of quarries as huge blocks of rock and then taken to a facility where the blocks are polished and cut into slabs for countertops. 


Corian is nonporous and can be fabricated to achieve a seamless look. There are no spaces or nooks in the material to catch liquid spills or dirt, a fact that makes Corian countertops both durable and easy to clean. Moreover, the material is resistant to stains and often relatively easy to repair. 


Though granite is a very durable and solid rock, it is naturally porous, meaning it can absorb spills in a way that can cause permanent damage. Still, it is not particularly easy to damage granite. Granite is more porous than the nonporous Corian, but it is less porous than some other natural materials, like marble. 


Health Hazards 
Corian meets all the emissions guidelines for volatile organic compounds (VOCs) and hazardous air pollutants (HAPs). It is also Greenguard certified. Corian is non-allergenic to humans, nontoxic, and free of heavy metals. The material also complies with EU Directive 2002/95EC on the Restriction of Hazardous Substances (RoHS). According to the Environmental Protection Agency, naturally-occurring radioactive elements occur in granite and can decay over time to produce a colorless, odorless gas known as radon. Long-term exposure to radon can cause lung cancer. However, the EPA says most all granite is safe in homes and cause for little, if any, concern; EU regulatory bodies have come to similar conclusions. The notion that granite is dangerous is persistent, though, so much so that the Marble Institute of America keeps a collection of erroneous granite reporting.

Bacterial Resistance 

Corian does not harbor bacteria and is therefore a very hygienic surface; moreover, any spills are easy to wipe off. This makes Corian a convenient countertop surface for kitchens, hospitals, and laboratories. Granite is said to harbor bacteria over time, but at least one study by the Hospitality Institute of Technology and Management suggests otherwise.

 According to the study, granite was actually the easiest surface to thoroughly disinfect using only soapy water, plain water, and vinegar. It should be noted that vinegar should not generally be used on granite surfaces, as it can cause permanent damage; however, it was used in the study for the purpose of disinfecting.

Maintenance 

Corian countertops can be cleaned with soapy water or ammonia-based solutions. Once cleaned, the countertops need to be dried thoroughly to prevent hard water stains. Over time, countertops that are not cared for will appear dull and blotchy due to hard water stains. Heavy duty stains can be cleaned with Deep Cleaner for DuPont Corian. Granite should be with soapy water on a daily basis. Cleaning solutions that contain vinegar, ammonia, or citric acids (e.g., lemon or lime) should not be used because these can dull a granite's surface with their acidity. If spills are not immediately cleaned, staining can occur. Some water-based stains can be removed with a hydrogen peroxide and baking soda solution, while water and baking soda can help remove oil-based stains. 

For regularly used granite countertops, resealing is recommended at least once every two years to help keep the stone resistant to stains. 

 Countertops 

Corian is used to make kitchen and bathroom countertops, as well as sinks, in residences and businesses like restaurants, hotels, and hospitals. 

Corian is easy to clean, and with proper care it does not promote the growth of mold and mildew. Its nonporous and seamless designs make it a good choice for bar counters, tabletops, and solid surfaces in healthcare settings. The strong, heat resistant, and sanitary qualities of granite, along with its elegance, make it ideal for classic kitchen countertops. 

Granite is also commonly used in bathroom vanities for the same reasons. Granite backsplashes are now becoming fashionable in modern kitchens, too, and granite flooring may appear in offices. 

Other Uses The use of Corian does not just stop at kitchen and bathroom countertops. It can be used in very creative ways to make furniture, lighting, flooring, and interior and exterior wall cladding. Its nonporous nature makes it resistant to bacteria and ideal for all sorts of decor in healthcare and laboratory environments. With a recently invented process called dye sublimation, images can be embedded into Corian surfaces and cut out to create a permanent piece for use in interiors. 

Push-Pull in Residential Real Estate: Median Sale Prices Remain High While Buyers Contend with Inventory & Affordability

City of Detroit continues climb with more listings and nearly 30% increase in median home sale price

Real Estate Market Commentary:
As the summer draws to a close, multiple opposing factors and trends are competing to define the direction of the real estate market. After the Federal Reserve lowered its benchmark interest rate on July 31, 30-year mortgage rates continued to decline, approaching alltime lows last seen in 2016. Yet most experts agree these reductions are unlikely to bring sufficient relief, at least in the short term, for first-time home buyers. The lack of affordable inventory and the persistence of historically high housing prices continue to affect the housing market, leading to lower-than-expected existing home sales at the national level.

Closed Sales decreased 2.8 percent for Residential homes and 4.5 percent for Condo homes. Pending Sales decreased 0.4 percent for Residential homes and 7.4 percent for Condo homes. Inventory decreased 13.8 percent for Residential homes but increased 0.6 percent for Condo homes.

The Median Sales Price increased 6.7 percent to $190,000 for Residential homes and 0.2 percent to $168,900 for Condo homes. Days on Market increased 2.9 percent for Residential homes and 21.4 percent for Condo homes. Months Supply of Inventory decreased 12.5 percent for Residential homes but increased 3.4 percent for Condo homes.

As many homeowners refinanced their homes to take advantage of declining interest rates, consumer confidence in housing was reported to be at historically high levels. Even so, real estate professionals will need to monitor the market for signs of continued imbalances. Although the inventory of affordable homes at this point remains largely stable, it is stable at historically low levels, which may continue to push prices higher and affect potential buyers across the U.S.

Single-Family Real Estate Points of Interest:

• Closed sales decreased by 3% from 9,522 to 9,232 for the month of August Y-O-Y.
• Median Sales Price increased by 6.3% from $175,900 to $187,000 for the month of August Y-O-Y.
• Approximately 1 in 4 new listings (3,455 of 13,568 or 26%) were listed and pended (same month).
• An average of 6.5 showings were conducted in August. This was down only slightly by .6 days Y-O-Y.
• Overall, Days on Market increased by 1-day Y-O-Y from 34 to 35 days.
• 2.5% of Residential and Condo On-Market listings are flagged as “lender mediated”. These listings include foreclosures and those marked as short sales. This percentage increased by .5% Y-O-Y based on the recalculated percentage for August 2018.
• Single-Family Real Estate Trends for August

* = Recalculated figures pulled from Realcomp’s MLS statistical database 9/11/2019

5 Things That Make It Difficult to Sell a House

Most likely, your house is the most-valuable asset that you own. That being the case, you obviously want to get top-dollar when you decide to put your house on the market. Selling your home can be a stressful and emotional time, so you want to do everything you can do to make the process run as smoothly as possible.

Toward that end, there are some things to watch out for when putting your house on the market. Each of the five points listed below could make it quite difficult to sell your home, depending on market conditions and other factors.


#1 – You Priced It Too High

This should be an obvious point, but it deserves a spot at the top of our list because it is such a costly mistake. While everyone knows that listing prices are negotiable in the world of home buying and selling, listing your house too high might cause prospective buyers to miss out on even seeing your house in the first place. For example, if a prospective buyer is looking to spend between $350,000 and $400,000, and you list your home for $405,000, that buyer might not even consider your property as an option. Be realistic and list your home for fair market value with the help of a real estate agent.

#2 – Poor Curb Appeal

First impressions matter, so make sure your home gets off to a great start with any prospective buyers. When someone drives up to your home for the first time, what are they going to notice? If they are met with messy landscaping and other exterior issues, they will instantly have a negative association with the home. Make sure your house looks good from the street with tidy landscaping and a clean entrance.

#3 – Clutter, Clutter, Clutter

Before buying a home, shoppers are certainly going to want to walk through the house to get a good understanding of its layout, condition, size, etc. However, if your house is so full of stuff that prospective buyers can barely walk through safely, they are going to have a hard time making a decision. Clean up before you put your house on the market, and store your excess stuff elsewhere if necessary.

#4 – Invisible Online

Nearly all prospective buyers are going to start their home-buying process online these days, so make sure your house has a presence on the web when it goes up for sale. Sure, you can put a sign out in the yard, but that sign isn’t going to attract nearly as many people as a professional listing with quality pictures and a clear description.

#5 – A Major Problem

No home is perfect, and if you have been living in a home for a number of years it is sure to have a couple of issues here and there. That is fine, and it won’t stop most people from making an offer if they like the house otherwise. However, if there is a big problem with the house, you might run into trouble. Some examples of big problems that can impede a sale would include a leaky roof or an unstable foundation. You don’t need to fix everything about your house before it goes for sale, but make sure you address any major issues that are going to turn off most buyers.

Warning: Rabies found in dead animal in Oakland County

Officials are warning residents in Oakland County after a dead skunk found just north of Detroit tested positive for rabies.

Rabies is a zoonotic disease (a disease that is transmitted from animals to humans), caused by the rabies virus, of the Lyssavirus genus, within the family Rhabdoviridae. Domestic dogs are the most common reservoir of the virus, with more than 99% of human deaths caused by dog-mediated rabies.

The Oakland County Health Division says the skunk carcass was removed from Southfield, in an area north of 10 Mile Road and south of Lincoln Road between Southfield and Greenfield roads.

It has been reported that multiple dead skunks were recently found in this area but were not tested for rabies. If additional dead wild animals are found within this specific area, call the Health Division at 248-858-1286.

Residents are urged to stay away from wild animals such as skunks, bats, raccoons, foxes, and stray cats and dogs.

"Rabies is present in our communities," Leigh-Anne Stafford, health officer for Oakland County, said in a statement. "People and their pets need to be careful and avoid encounters with unfamiliar animals."

The rabies virus is found in the saliva of infected animals and is spread through bites or scratches. Rabies is not spread through a skunk’s spray.

If a wild animal is found behaving strangely -- including having problems swallowing, exhibiting lots of drool or saliva, appearing tamer than you would expect, biting at everything, and having trouble moving or is paralyzed -- call the Oakland County Animal Shelter and Pet Adoption Center at 248-858-1070 for assistance.

If you or your household pet is bitten by any wild animal or an animal unknown to you, wash the affected area thoroughly with soap and water and seek medical or veterinary attention immediately. To report an animal bite, call the Health Division at 248-858-1286.

Everyone can take simple steps to protect themselves from rabies:

• Do not handle stray, wild, or dead animals.
• Keep pets indoors or supervised to limit their exposure to wild animals that may be rabid.
• Use a leash when walking dogs or keep them in a fenced-in yard.
• Have pets vaccinated regularly. This will protect them if exposed to animals with the disease and prevent them from becoming ill and infecting humans.
• Do not feed or put water for pets outside.
• Keep garbage securely covered, as these items may attract wild or stray animals.

Mortgage Rates Just Saw Their Largest Increase In 3 Years

Home Mortgage Rates Increased Dramatically

The average rate on the 30-year fixed is now 13 basis points higher than it was Monday and 29 basis points higher than its last low on Sept. 4, according to Mortgage News Daily.

A basis point is the smallest measure used in quoting yields on fixed income products. Basis points also pertain to interest rates. One basis point is equal to one one-hundredth of one percentage point (0.01%). Therefore, 100 basis points would be equivalent to 1%

That is the biggest short-term jump since the week after the election of President Trump.

That is the bad news for borrowers. The good news is that rates are still incredibly low, and in the weeks before this turnaround, rates had fallen to the lowest level in three years.

"These sorts of bad performances are most often seen in the wake of stellar performances," said Matthew Graham, chief operating officer of Mortgage News Daily. "August was the best month for mortgage rates, and 2019 has been the best year since 2011. And that's precisely why this terrible week is possible: It's largely a technical correction to the feverish strength in August."

Analysts now wonder if this a short-term correction from those recent lows or a new shift toward rising rates.

"The big risk here is that the overall rate rally—the one that began in November 2018—has run its course," Graham said.

If the market "can match 2011's performance, there's a chance rates will move to new all-time lows by the end of the year," he added. But that would require "some legitimate deterioration in the global growth outlook."

Mortgage rates loosely follow the yield on the 10-year Treasury. While moves in the Federal Reserve's rates can affect bond yields, mortgage rates are not necessarily tied to Fed rate cuts or increases.

While mortgage rates are still historically low, so many borrowers have already refinanced, that the pool of those left who could benefit is extremely rate sensitive.

When rates dipped to their recent low, the number of borrowers with good credit scores and at least 20% equity in their homes who could save on a refinanced surged to the largest on record, 11.7 million, according to Black Knight.

That has now dropped by about 2 million. Black Knight defines refinance candidates as 30-year mortgage holders with a maximum 80% loan-to-value ratio and credit scores of 720 or higher, who could shave at least 0.75% off their current first lien rate by refinancing.

Mortgage applications to refinance a home loan were actually flat last week, despite the low rates, according to the Mortgage Bankers Association.

That may have more to do with psychology than anything else. When borrowers see rates dropping fast, they hold off, thinking they may go even lower. As with every other market, you can't time the mortgage market.