Detroit Real Estate

Are you upset with a Northville real estate agent because they won't show you a house without a pre-approval letter?

Here may be the real estate agent's reasons why they won't show you a house without a pre-approval letter

1. Northville Home sellers and listing agents won't accept a purchase offer without a mortgage pre-approval letter.  Metro Detroit Home sellers want to know that the buyer can buy a house and that it isn't a dream.  I used to do mortgages and I can't tell you how many people think they can buy a house.  But there is no way they would be approved for a mortgage by lenders.  So if you don't have a pre-approval letter then you can't get your purchase offer accepted.  It won't even be looked at.  They won't even accept it if there are no other offers.
2. Without a pre-approval letter you are just a "looker".  If you are not serious enough to get a pre-approval letter then you aren't a serious buyer in the eyes of many real estate agents.  So why should they waste their time and gas to show you a house you are not serious about.  It doesn't take much time to get a pre-approval letter.  So many real estate agents feel if you won't take 20 minutes to get a pre-approval letter you are not serious about buying.  Agents want serious buyers.  They have seen enough houses they don't need to see another one with somebody that isn't ready to buy.
3. The line "I'm serious" or "I'm going to buy" and it won't be with a real estate agent that won't show me a house with out a pre-approval letter.  Unfortunately as most experienced Metro Detroit real estate agents and mortgage people will tell you.... they want serious buyers that can prove it.  In today's market many people can't get approved because of the tougher bank rules.  Even though you think you can or that your were approved a year or two ago.  It's a new world of banking and mortgage lending.
4. Real estate agents are busy like everybody else in life.  They only have so much time in a day.  Do they spend it with a serious buyer who has a pre-approval letter or a "looker".  They would rather spend time with their family or enjoying time off than a spend time with a non-serious buyer.
5. You are going to be upset if you got a house offer accepted (which it would never get that far in Metro Detroit) and then found out you couldn't buy.  You will most likely be mad at everybody but the person who didn't get pre-approved.

So my advice to anybody thinking of buying a home..... get your financial affairs in order and see a mortgage lender to get a pre-approval letter.  It will make the whole buying process going easier once you are pre-approved.  Plus you should have figured out what you want in a monthly payment before you go to the mortgage lender.  It will only take a few minutes to get pre-approved and you will be ready to get the home of your dreams. 

Whether you are a Livonia real estate home buyer, a Northville home buyer, or a Farmington Hills home first time buyer get yourself a pre-approval letter.

Russ Ravary your Metro Detroit real estate agent

helping Oakland and Wayne County real estate buyers and sellers (Michigan)

My Quote of the day is:

"Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great."

Mark Twain

Northville Twp MI a great place to live

5 good reasons to live in Northville Township are:

1.  Northville Township has one of the lowest milleage tax rates in Wayne County MI. 18.8593 for 2008 homestead summer taxes. (from Northville Twp site) That's a great rate.

2.  Northville Twp is one of Wayne Counties more affluent areas.  Home prices range from 100,000 to over a million dollars. There are beautiful subdivisions like Fox Hollow and Stonewater neighborhoods.

3.  Northville Twp has rolling terrain unlike most of Wayne County.  Much of Wayne County was flat farmland.  Northville has gently rolling hills. Add in some of the small lakes it is beautiful throughout the year.

4.  Northville Township MI is conveniently located close to major expressways.  Just east of Northville Township is I-275 and to the south is M-14/ I-96.  Being close to these expressways makes it easy to get to downtown Detroit, downtown Ann Arbor, or to metro Airport.

5.  Most of Northville Township residents can send their kids to Northville schools.  Northville Schools consistently rank as above the state average. 

Search Northville foreclosures and Northville real estate

Russ Ravary your local Northville real estate agent

Northville MI foreclosed homes

Right now there are only 12 Northville foreclosures currently for sale as of June 7, 2009.  The least expensive one is 1035 square foot foreclosure for $39,900.  The most expensive one is $689,900 for a 5600 square foot Northville foreclosure

There have not been many Northville foreclosure sales in the last 120 days.  There have only been 15 Northville foreclosures and they have sold after being on the market an average of 80 days.  One Northville foreclosure sold in only 8 days.  Remember with a limited number of foreclosures hitting the market Northville home buyers recognize the deal and buy it quick.  6 of the 15 Northville foreclosures sold in under a month!

But what is more surprising is how much these Northville foreclosures sold for!

So lowballing a Northville foreclosure will probably cost you the house. 

Get the latest Oakland and Wayne County foreclosure list emailed right to you.

If you have any questions about any of these homes give me a call or email me and I will be glad to help you.  YesMyrealtor@gmail.com

Russ Ravary your Northville real estate Specialist

comp and listing information provided by Real Comp II Ltd.  Homes sold by various Michigan Realtors.

 Northville real estate update

More Northville relocation information or Northville homes and real estate info click on one of the categories below.

 Northville MI

The latest Northville foreclosures

Other Northville subdivisions

Northville real estate MI

Northville Home buyer tips

Feel free to pick up the phone and call me with any questions.

Russ Ravary Your local Northville real estate specialist

fishing for information.  That is the key to our business.  I have been looking at Livonia condos and Northville condos with a first time home buyer.  We have it down to about 4 condos that she really likes.

I pulled all the recent sold condos in the 3 different Northville condo complexes and we found out that two of the condos were about 20% over priced.  Condos that were listed at $135,000 should be selling at about $115,000.  The other 2 were close to what they should sell for. 

So I went fishing for information from the listing agent.  Listing agents aren't supposed to tell you anything about their client or their bargaining position unless the client lets them.  But  information slips out all the time even with the best agents. 

The listing agent normally sends out a email form asking for feedback on what we thought of the condo.  They ask if we think it is in good condition, what we think of the price, and they even have a comment section.  So I filled out the comment section saying that compared to the recent sold Northville condos that sold in the complex theirs were high about $20,000 too high.  That my client was interested but.....the price was an issue.  One I don't know if it would even appraise at $25,000 lower to meet the banks standards.

Well one agent called up and said don't let price be an issue.  He had talked to his client and the client said to bring them an offer.  Bingo.  I got what I needed to know.  They were flexible and they realize that the Northville condo was a little overpriced.

On the opposite end I got a call from the other agent.  Now he spilled his guts.  He told me everything about the seller and his position.  Where the seller was moving to and all about him.  He also stated that we couldn't count Northville foreclosures when comparing prices.  (What planet is this agent on)  He basically said his condo was a great price.  And this was the condo that absolutely needed to come down $14,000 even to be in the ball park.  Sure somebody might pay cash and over pay for the updated condo.  But it wasn't worth the price in this Metro Detroit real estate market.

So after talking to this agent we more or less can cross this condo off the list.  Because they aren't going to deal and they are overpriced for the market.  It saved us a lot of time putting in an offer and wasting our breathe.

Now we down to three choices.  So whatever my client chooses at least she knows where the Northville condos should be priced at and what is a good deal on the home.   

Russ Ravary your Northville real estate agent