Your First Sneak Peek Of Target’s New Back-To-College Collection

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$72,000 :: 24575 CUNNINGHAM, Warren MI, 48091

Property Photo

2 beds, 1 bath
Home size: 816 sq ft
Lot Size: 8,276 sq ft
Added: 01/29/18, Last Updated: 06/06/18
Property Type: Single Family
MLS Number: 218007128
Community: Warren
Tract: S/P LADD CENTER
Status: Sold

Excellent starter home ready to move in. Updates include Newer roof, high efficiency furnace, new A/C with extended 5 year warranty. Newer plumbing, paint, carpet, kitchen, bath, brand new stainless steel Stove, Refrigerator, dishwasher. Across the street form play ground and day care center. Buyer or buyer agent to verify all info. Seller limited to $100 FHA repairs if any. FHA appraisal already completed for 75,000.

Listed with Sell Smart/Kimble-Busch


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


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June Is National Homeownership Month

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June is National Homeownership Month, and the industry is recognizing the importance of homeownership as a milestone of the American Dream.

This year’s theme, set by the Department of Housing and Urban Development (HUD), is “Find Your Place.” HUD is one of many agencies that provide resources to help consumers obtain and sustain homeownership. Through its network of housing agencies, consumers can seek out counselors for homeowner education, foreclosure prevention and budgeting assistance. With mortgage options through the Federal Housing Administration (FHA), consumers with low credit or low-down payment funds can reach their homeownership goals faster—a significant method of aid for millennials and upcoming buyer generations flooded with student loans, making it difficult to amass the funds needed for conventional financing. According to HUD, over 47 million homeowners since 1934 purchased a home with a mortgage insured by FHA, and around 40 percent of all borrowers purchase their first home using an FHA loan.

“Homeownership serves as an enduring symbol of security and prosperity, and it provides many Americans with a legacy they can pass down to their children and grandchildren,” said HUD Secretary Ben Carson in a statement. “During National Homeownership Month, we recognize the abiding value of owning a home, and we rededicate ourselves toward helping hard-working families to find their place in the American dream.”

Although homeownership rates are currently stalled at 64.2 percent, experts say the lack of dramatic increase is a reflection of a market that is withstanding challenges such as low inventory and rising interest rates. While the number has not moved much since the first quarter of 2017, there have been gradual increases since 2016, following a significant drop after the housing crisis.

While the National Association of REALTORS® (NAR) celebrates its commitment to homeownership year-round through resources provided on its Homeownership Matters and HouseLogic sites, NAR President Elizabeth Mendenhall recognized June as a pivotal time to reaffirm the association’s mission to promote homeownership.

“National Homeownership Month is a time to celebrate and promote the modern American Dream of owning a home,” said Mendenhall in a statement. “Homeownership changes lives and enhances futures, and many Americans see it as one of their greatest hopes. These individuals are counting on the nation’s 1.3 million REALTORS® to champion and protect homeownership and help make it more affordable, attainable and sustainable. REALTORS® pledge to continue to lead efforts to ensure that the dream of homeownership is not only possible, but very real, for any and all who want to achieve it, so they can have a place of their own to make memories, start growing their financial futures, and build strong communities.”

In addition, Freddie Mac’s website for National Homeownership Month provides valuable resources for homeowners, such as educational articles, homeownership program statistics and opportunities consumers can take advantage of in order to make their homeownership dream a reality.

According to the National Association of Home Builders (NAHB), primary residences are ahead of all other financial assets, business interests and retirement accounts, accounting for nearly one-quarter of all assets held by households in 2016, as reported in the latest edition of the Federal Reserve’s Survey of Consumer Finances.

“Homeownership is a primary source of net worth for many Americans, and is an important step in accumulating personal financial assets over the long term,” said Randy Noel, chairman of the NAHB, in an interview on NAHBNow.

In recognition of National Homeownership Month, NAHB is making a toolkit available for its members; the toolkit includes a video on the value of homeownership, sample social media posts, radio scripts and other talking points, relevant articles, and even print ads showcasing the benefits of homeownership.

Citing the passing of the Economic Growth, Regulatory Relief and Consumer Protection Act and this past year’s tax reform bill as recent progress, President Donald Trump released a statement pledging the administration’s commitment toward increasing homeownership incentives across the country:

“During National Homeownership Month, we affirm the joy and benefits of homeownership. For millions of Americans, owning a home is an important step toward financial security and achieving the American Dream. My Administration is committed to fostering an economic environment in which every family has the opportunity to enjoy the sense of pride and stability that can come with owning a home.”

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

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Pets Keep Dying On Planes

The most-recent airline pet death is an 8-year-old dog who died in a cargo facility during a layover in Detroit. Continue Reading →

$163,900 :: 12856 LEISURE DR, Warren MI, 48088-4270

Property Photo

4 beds, 2 baths
Home size: 1,388 sq ft
Lot Size: 7,405 sq ft
Added: 12/11/17, Last Updated: 06/03/18
Property Type: Single Family
MLS Number: 21396856
Community: Warren (50023)
Tract: ROYAL GARDENS
Status: Sold

The buyers financing fell through after appraisal above listing price. Don’t miss your opportunity to purchase this charming 4BR ranch in Warren with 2 full bathrooms! The home features new carpet and paint, a large open kitchen, corner privacy fenced lot with covered deck. Close to schools, close to freeways, close to shopping. Seller is offering a $6,000 concession for the roof. Schedule your showing and make this house your home!

Listed with Red Door Realty Inc


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


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Dodd-Frank Reform Could Make It Easier to Get a Mortgage

(TNS)—It should be easier for you to get a mortgage now that President Donald Trump has signed legislation that will lift lending restrictions on community banks.

Congress on Tuesday voted in favor of rolling back Dodd-Frank banking rules, and Trump signed it Thursday. The reforms will ease some of the mortgage laws from the Dodd-Frank Act of 2010, a massive financial law enacted in response to the financial crisis.

Thanks to the new law, more homebuyers are likely to get approval for a mortgage from their local community bank or credit union.

“Any changes to soften the lending aspects will make it easier for borrowers to get loans,” says Rick Sharga, executive vice president of Ten-X, an online real estate marketplace.

Here’s the Problem
Many lenders say the mortgage laws have become too restrictive for them to make mortgages outside of the so-called Qualified Mortgage rule. The rule is based on your ability to repay the mortgage by requiring that your debt does not exceed 43 percent of your income, but there are very specific requirements when proving your income. The task gets trickier if you’re a business owner, for example, and don’t have consistent income flows.

“Lenders, particularly retail banks, have just stopped taking on any risk at all,” Sharga says. “Getting those smaller lenders back into the game could have a material impact on the housing market.”

What the Bill Fixes
The new changes will allow community banks and credit unions to offer mortgages outside the typical Qualified Mortgage rule so long as they don’t sell that mortgage but keep it in-house. By holding that mortgage on the books, it would be deemed a Qualified Mortgage. The carve-out would apply to institutions with less than $10 billion in assets.

Many lenders think this change will allow more community lenders to offer mortgages. It will also be helpful for homebuyers, when mortgage rates are rising but still low.

It’s unclear how much of an impact the change to the mortgage laws will have on the housing market. A large portion of homebuyers already meet the requirements within the Qualified Mortgage rule. The Urban Institute says the Qualified Mortgage rule has had “little impact” on credit availability, though there are fewer mortgages being offered for under $100,000.

Congress’ move received praise from David Stevens, president and CEO of the Mortgage Bankers Association.

“I want to commend the House of Representatives for joining the Senate and passing this bill, which will protect consumers and provide greater access to mortgage credit,” Stevens said in a statement.

©2018 Bankrate.com
Distributed by Tribune Content Agency, LLC

For the latest real estate news and trends, bookmark RISMedia.com.

The post Dodd-Frank Reform Could Make It Easier to Get a Mortgage appeared first on RISMedia.

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Dodd-Frank Reform Could Make It Easier to Get a Mortgage

(TNS)—It should be easier for you to get a mortgage now that President Donald Trump has signed legislation that will lift lending restrictions on community banks.

Congress on Tuesday voted in favor of rolling back Dodd-Frank banking rules, and Trump signed it Thursday. The reforms will ease some of the mortgage laws from the Dodd-Frank Act of 2010, a massive financial law enacted in response to the financial crisis.

Thanks to the new law, more homebuyers are likely to get approval for a mortgage from their local community bank or credit union.

“Any changes to soften the lending aspects will make it easier for borrowers to get loans,” says Rick Sharga, executive vice president of Ten-X, an online real estate marketplace.

Here’s the Problem
Many lenders say the mortgage laws have become too restrictive for them to make mortgages outside of the so-called Qualified Mortgage rule. The rule is based on your ability to repay the mortgage by requiring that your debt does not exceed 43 percent of your income, but there are very specific requirements when proving your income. The task gets trickier if you’re a business owner, for example, and don’t have consistent income flows.

“Lenders, particularly retail banks, have just stopped taking on any risk at all,” Sharga says. “Getting those smaller lenders back into the game could have a material impact on the housing market.”

What the Bill Fixes
The new changes will allow community banks and credit unions to offer mortgages outside the typical Qualified Mortgage rule so long as they don’t sell that mortgage but keep it in-house. By holding that mortgage on the books, it would be deemed a Qualified Mortgage. The carve-out would apply to institutions with less than $10 billion in assets.

Many lenders think this change will allow more community lenders to offer mortgages. It will also be helpful for homebuyers, when mortgage rates are rising but still low.

It’s unclear how much of an impact the change to the mortgage laws will have on the housing market. A large portion of homebuyers already meet the requirements within the Qualified Mortgage rule. The Urban Institute says the Qualified Mortgage rule has had “little impact” on credit availability, though there are fewer mortgages being offered for under $100,000.

Congress’ move received praise from David Stevens, president and CEO of the Mortgage Bankers Association.

“I want to commend the House of Representatives for joining the Senate and passing this bill, which will protect consumers and provide greater access to mortgage credit,” Stevens said in a statement.

©2018 Bankrate.com
Distributed by Tribune Content Agency, LLC

For the latest real estate news and trends, bookmark RISMedia.com.

The post Dodd-Frank Reform Could Make It Easier to Get a Mortgage appeared first on RISMedia.

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$147,000 :: 24322 WARNER Avenue, Warren MI, 48091

Property Photo

4 beds, 2 baths
Home size: 1,700 sq ft
Lot Size: 8,712 sq ft
Added: 04/27/18, Last Updated: 05/31/18
Property Type: Single Family
MLS Number: 218034991
Community: Warren
Tract: PAMELA MANOR # 01
Status: Sold

SPACIOUS 4 Bedroom QUAD-LEVEL on a LARGE LOT! Across from Westview Elementary! HUGE FAMILY RM w/ NATURAL FIREPLACE. Spacious Kitchen (Newer Lower Cabinets, Ceramic Floor & Counters, Stove & Refrig.’15 with Icemaker in Door!) Full Remodeled Upper Bath. 1/2 Bath in Lower Level (Newer Large Stall Shower is 15 ft away in Partially Finished Basement). Ceramic Floor thruout Main Floor, Lower Level & Basement. Hardwood Floors under Carpet in Upper Floor. ROOF ’15. All Newer Windows, Hot Water Tank, Furnace & Central Air. 2 CAR GARAGE w/ Newer Door & Opener’18. **This property is OCCUPIED. Please give 24 hr notice for showings

Listed with RE/MAX First


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


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$103,000 :: 28370 UNIVERSAL DR, Warren MI, 48092-2439

Property Photo

2 beds, 2 baths
Home size: 1,312 sq ft
Lot Size: 0 sq ft
Added: 03/12/18, Last Updated: 05/30/18
Property Type: Condo/Townhouse/Co-Op
MLS Number: 21421869
Community: Warren (50023)
Tract: UNIVERSAL CITY ESTATES
Status: Sold

Townhouse style condo with private entry and rare 2 car covered carport just steps from the fenced backyard. Also, 2 bedrooms on opposite side with plenty of closet space and double entry full bathroom, balcony, half bathroom on first floor, finished basement, porch, patio, pets allowed. Recent updates include renovated kitchen, floors, balcony, & more. Complex has community pool and club house. The unit is in very good condition and is ready to move in with immediate occupancy. Monthly association fee includes gas/heat, water, building insurance and exterior maintenance. Walking distance to the major shopping center! All to create a quality lifestyle with low monthly expenses. Let’s make a deal!

Listed with Century 21 Hartford-Farmington


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


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$1 Million: What It Buys in the U.S. Housing Market

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One-million dollars is a lot of money to most of the world’s population, but it’s a drop in the bucket to a billionaire. The housing market in the U.S. seems to have a similar relationship with homes valued between $900,000 and $1.1 million: Some of them are sprawling estates, while others are considered middle-of-the-road homes.

HouseCanary examined homes valued around $1 million in different metropolitan statistical areas (MSAs) across the country to determine what an “average” million-dollar home looks like, from San Francisco to Tuscaloosa, Ala. We found that what a million dollars will buy can vary widely from place to place—so if you’ve got $1 million to spend on a home, here’s what you can expect to get in return.

Where $1 Million Is Big Money
In most markets, $1 million will get you a lot of house, but they might not be considered mansion material. We found that in the preponderance of markets (110 out of 375 metro areas), a million-dollar home is somewhere between 3,000 and 4,000 square feet. But there are also some markets where you can buy a true mansion or estate if you’re willing to spend between $900,000 and $1.1 million.

Those markets tend to be at least somewhat off the beaten path, so you may be sacrificing some shopping convenience, access to airports, or proximity to cultural, sports, or other local assets. And those markets may not also have relatively high household income, meaning you’ve got to save for a lot longer to make that million-dollar down payment. But the amount of room you’ll get to spread out and do your thing might make that kind of sacrifice well worth it!

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Ohio is one state with several big cities, but it’s in unassuming Lima, about 90 minutes northwest of Columbus, where you’ll find the best deals for $1 million. The average million-dollar home in Lima, Ohio, is 9,435 square feet and sits on a four-acre lot. It has five-plus bedrooms, four bathrooms, and 4-5 parking spots. For that million-dollar home, buyers pay about $105.99 per square foot.

In Lima, most homes are very affordable. To pay a mortgage on a median-priced home in Lima, the median-income household would spend 17.30 percent of its income. The median household income in Lima is $45,575, and you can still buy a home there for much less than $100,000. So it’s not surprising that the two million-dollar homes in Lima are much larger than average!

You’ll find similar bang for your million-dollar buck in Anniston-Oxford-Jacksonville, Ala., about an hour and 20 minutes northeast of Birmingham, where the average million-dollar home is 8,354 square feet and sits on a five-acre lot. It has three bedrooms, 2.5 bathrooms, and 4-5 parking spaces. The price-per-square foot in this corner of Alabama for a million-dollar home is about $119.70.

Homes are also very affordable in Anniston-Oxford-Jacksonville, with the median household spending just shy of 17 percent of total household income ($41,954 annually) on a median-priced house.

Texas is another state with several big cities—Houston and Dallas are two of the biggest cities in the country. In Wichita Falls, Texas, about two hours and change northeast of Dallas, your average million-dollar home comes on a whopping 60-acre lot and is 7,852 square feet. The price-per-square foot is about $127.36—still very reasonable. It has five bedrooms, 4.5 bathrooms and four parking spots, and the median household in Wichita Falls spends just 13.94 percent of its annual $46,043 income on a median-priced home.

$1 Million in the Middle
Even though there are more homes between 3,000 and 4,000 square feet than between 4,000 and 5,000, the average square footage for a million-dollar home across all metros studied is 4,305 square feet—which is quite a bit of room to stretch out, but still only about half the size of the biggest million-dollar homes in the country.

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In the Nashville MSA (which also includes Davidson, Murfreesboro and Franklin, all in Tennessee), an average million-dollar home is 4,302 square feet, with 3-4 bedrooms, four bathrooms, and three parking spots nestled on a 0.96-acre lot. The price-per-square foot is $232.45—more than double the price per square foot in Lima, Ohio.

Affordability in Nashville is also middle-of-the-road: Most economists suggest that households spend no more than 30 percent of their total income on housing, and in Nashville, a median-priced house costs 30.5 percent of the median household income, which is $56,152 annually.

Richmond, Va., and St. Louis (spanning both Missouri and Illinois) are also relatively average markets. In Richmond, an average million-dollar house is 4,312 square feet on an 0.85-acre lot, with four bedrooms, four bathrooms, and two parking spots. The price-per-square foot is $231.91, slightly lower than in Nashville. A median home for a median household in Richmond uses 29.17 percent of its $61,124 annual household income.

And in St. Louis, the average million-dollar home is 4,330 square feet on a 0.93-acre lot. It also has four bedrooms, four bathrooms, and two parking spots. The price-per-square foot is very close to both Richmond and Nashville at $230.95. In St. Louis, the median household (which makes $56,726 per year) spends 21.83 percent of its income on a median-priced home.

Million-Dollar Babies
It makes sense that in areas where housing is more affordable, million-dollar homes are larger. But what happens when affordability starts to creep up (and up…and up)?

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As you might guess, when affording a home captures more and more of a median household’s income, the million-dollar homes get smaller. The smallest average million-dollar home in the country is in San Jose-Sunnyvale-Santa Clara, Calif., at 1,576 square feet, on a 0.13-acre lot. It has three bedrooms, two bathrooms, and two parking spots, and in this MSA, the median household spends 76.33 percent of its income ($100,469 annually) on a median-priced home. The price-per-square foot is an eye-popping $634.52, almost six times what you’d pay in Lima, Ohio, for a home.

In San Francisco-Oakland-Hayward, Calif., you’ll find a slightly bigger average million-dollar home at 1,600 square feet, on a 0.13-acre lot, with three bedrooms, two bathrooms, and two parking spots. The price-per-square foot is $625, just $9.52 lower than in San Jose-Sunnyvale-Santa Clara. A median household in the Bay Area makes $85,947 per year and typically spends 80.20 percent of its total income on a median-priced home.

Honolulu is another market with small average million-dollar properties. In Honolulu, the average million-dollar home is 1,846 square feet on a 0.15-acre lot, with four bedrooms, two bathrooms, and two parking spots. The price-per-square foot for a Honolulu million-dollar home is $541.71—definitely more reasonable than its San Francisco counterparts, but still almost double what you’d pay in Nashville, Richmond or St. Louis. The median household in Honolulu (which makes $77,161 per year) spends 61.62 percent of its income on a median home—still more than double the recommended amount, but much more reasonable than San Jose or San Francisco.

In Boulder, Colo., you can get slightly more square footage for a million dollars than in San Francisco. The average Boulder million-dollar home is 2,270 square feet on a 0.24-acre lot, costing $440.53 per square foot. It has four bedrooms and 2.5 bathrooms, with two parking spots, and the median household spends just over half (51.39 percent) of its $72,282 annual income on a median home.

If I Had a Million Dollars…
Would you rather have a vast estate in Lima, Ohio, or Wichita Falls, Texas, or a cozy family home in San Francisco or Honolulu? Maybe opting for something middle-of-the-road in St. Louis or Nashville makes more sense…and it’s less square footage to clean!

This was originally published on HouseCanary. For more information, please visit www.housecanary.com.

For the latest real estate news and trends, bookmark RISMedia.com.

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