some newer works

I did a show a while ago with #Amy Chenier #Ryan Weiss AKA “The Doctor” and #James Slack Aka Jim Slack aka “the Professor.

I was able to create an installation with Ryan Weiss. in fact his work was the inspiration for the installation. We made a house 5ft X 5ft. there were small openings for windows  and no doors. essentially the house you where everyone was welcome…but you can’t get in.

Well here is the  video we did for Now & Not .. it was my latest show!

thanks a batrillion!!!!

come on down to the gallery and have a sandwich or something!

 

Thousands facing foreclosure

This was an interesting story I found.. I was trying to get an idea on a projecton for 2012 foreclosures and here we go!

 

 

Heidi Young has lived in her bungalow near the intersection of 7 Mile and Cooley in Detroit for five years. She wants to stay there.

However, Young is three years behind on her property taxesand faces foreclosure if she doesn’t come up with about $4,000 in property taxes for the 2009 tax year. She knows why the county treasurer’s office has been trying to collect from her: Before losing her job three years ago, she worked in collections for a finance firm in Southfield.

“I never thought I’d be in this position,” said Young, 40. “The key is to show you have a job, then anything is possible.”

Young was one of thousands of people who came to a county hearing at Cobo Center on Monday, trying to convince the  treasurer’s office to hold off on foreclosing on their properties. More delinquent taxpayers will be there Tuesday and Wednesday.

All were summoned  by County Treasurer Raymond Wojtowicz, who is required by law to foreclose on people who haven’t paid their taxes for at least three years.

Such hearings are usually done in court, though the numbers are so large this year — more than 42,000 parcels of property are delinquent — that the county used Cobo as a gathering place. Last year,  about 26,000 properties were delinquent.

Many of the people in the crowd were elderly or poor. When Wojtowicz asked how many of them had access to email, only a handful of hands went up.

Some people who came were renters who had received notices of delinquent taxes. They were referred to a nonprofit group that can help. Others say they can pay overdue taxes this year. They were told to leave and pay them. But most of the property owners were looking for help through payment plans and other options.

When Wojtowicz, who has been Wayne’s treasurer for more than 30 years, was introduced, he received polite applause.

“I do not want your property,” Wojtowicz said to a much louder round of applause. “I want you to continue owning it and I want you to continue paying your taxes.”

Deputy Treasurer David Szymanski explained to property owners that the county has two plans.

The Stipulated Payment Agreement calls for property owners to pay 20% of their 2009 taxes by March and pay the rest in installments by October. It’s good for homes or businesses.

For owner-occupied homes, the county offers another plan called the distressed owner/occupant extension, which gives homeowners who qualify until Dec. 12 to pay their overdue taxes. To qualify, owners must contract the treasurer’s office to apply and waiting doesn’t help.

State law sets the interest rate on delinquent taxes at 18% a year and the treasurer’s office has no authority to change that.

“The bottom line is, people need to come in and talk to us,” Szymanski said.

Young applied for the extension and hopes to learnin a few weeks if she qualified.

So does Trish Grzanowski, 46, who owes $5,481 on a home in Detroit’s Warrendale neighborhood. Her family has owned it since the early 1970s. She works part-time at Walmart in Dearborn, but doesn’t make enough to pay all her bills. “I’m not a cheater, I’m not a liar, I want to do what’s right,” she said. “I’ve put 30 years in that house.”

She got the application to apply for the extension and her sister is helping her fill it out.

written by John Wisely – Free Press Staff writer

escrows and such

when dealing with a city inspection, it’s important to understand what you are getting into. most cities allow a temporary CofO( certificate of Occupancy) at closing and give the buyer 6 months to complete repairs.  If you require more than 6 months, you can apply for an extension as long as you show improvements.

remember when purchasing a home, there are closings involved( taxes, fees from  the title company / real estate company/ mortgage company, )

these are rolled into your loan and added monthly payment with interest.

finding a qualified real estate agent, should be able to connect you with a good mortgage and title company.

happy house hunting

feel free to contact me for a free consultation

peace

Jeremy

new wyandotte homes!!!!!!

the market is really picking up.  unfortunately one’s man loss is another man’s gain!

check these out……

http://pub.realcomponline.com/publist.aspx?a=4506D7778603634353535363C60465B60&b=9405F3E4E414A504A5A3E505C604B

to short or not to short sale

Short Sale and Foreclosure Effects on Credit

The Impact of Short Sales and Foreclosures on Credit Reports

Sellers may wonder whether doing a short sale would affect their credit less than completing a foreclosure, and whether there are other advantages between the two. While in foreclosure, and depending on state laws, a seller could possibly stay in the property, essentially rent free, for four months to a year before being forced to vacate. But that fact alone does not mean a foreclosure is better.

Whereas a short sale involves offering the home for sale, generally listed through MLS. Potential home buyers will make appointments to view the homes, some will make lowball offers, agents might hold open houses and, in general, a seller’s life will be disrupted, all in the hopes that a buyer will buy the home.

 

Basics of a Short Sale

Short sales happen when a lender agrees to accept less than the amount owed against the home because there is not enough equity to sell and pay all costs of sale. Not all lenders will negotiate a short sale, and that is why a real estate or a lawyer can be a tremendous help by contacting the lender’s loss mitigation department to find out.

You can’t just wake up one morning and decide you’re going to sell your home at a loss by asking for a short sale. It used to be that lenders wouldn’t even consider a short sale if your payments are current, but that has changed. However, realize that lenders will be more agreeable to negotiation if your payments are in arrears. Plus, if you have cash assets, the lender might try to tap those accounts.

How is a Short Sale Seller’s Credit Affected?

Fair Isaac released a report that says credit scores are affected about the same, whether a seller does a short sale or foreclosure. Fair Issac says the average points lost on a FICO score are as follows:

• 30 days late: 40 to 110 points
• 90 days late: 70 to 135 points
• Foreclosure, short sale or deed-in-lieu: 85 to 160
• Bankruptcy: 130 to 240

• Foreclosure or Deed-in-Lieu of Foreclosure
  Both of these solutions affect credit the same, says David Steep of Vitek Mortgage. Sellers will take a hit of 200 to 300 points, depending on overall condition of credit. This means if a seller’s FICO score before foreclosure was 680, it could dip as low as 380.
• Short Sale
  Steep maintains that the effect of a short sale (providing the sellers are more than 59 days late) on a seller’s credit report is identical to that of a foreclosure. The ding on credit will show up as a pre-foreclosure in redemption status, Steep says, which will result in a loss of 200 to 300 points. This means a short sale seller with a previous FICO of 720 could see it fall from 520 to 420.

• Short Sale
  Some agents say the good news for short sale sellers is the wait is much shorter before buying another home, and Fannie Mae guidelines in 2008 adopted new procedures.Can a seller buy again in less than two years? Not really, says Coy, “It’s an utter myth that a consumer ‘can buy again in about 18 months at a good interest rate.’ However, Fannie Mae guidelines now require only 24 months’ seasoning, and that’s good news for agents who specialize in short sales.”

  FHA adopted guidelines in 2010 that say a seller who is current and does a short sale may qualify to immediately buy another home. Lenders aren’t so quick to follow those guidelines. However, Flagstar Bank gave an Elk Grove short sale seller a new loan within 2 months of closing his short sale, and that seller was current at the time.

  Note that Fannie Mae guidelines allow a seller to immediately apply for a new loan to buy another home if that seller kept the payments current, had no delinquencies exceeding 30 days and did not agree to repay the debt relief. Moreover, it’s the late payments that dramatically affect your credit report, not the short sale.

  Foreclosure or Short Sale Decision

  If you’re a seller trying to decide whether to let a home go through foreclosure versus attempting a short sale, salvaging your credit may not be an advantage to doing a short sale, says Coy. She reports that according to “Score Factor Code #22, there’s no credit score advantage for a delinquent borrower on a short sale over a foreclosure.”

  I have my doubts about that, though. From what I’ve seen, there is less damage to a credit report after a short sale involving late pays than a foreclosure. Moreover, another advantage for those with delinquencies on their credit is the ability to buy another home within 2 years over the 5- to 7-year period required for foreclosures. And there are other short sale advantages over a foreclosure. But seek legal and tax advice before making that decision.

   

  _{At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.}

   

 

 

The “drive by” – why you should…

If you have ever looked for a house you should have participated in a drive by.

When you are working with an agent  there 3 steps to look for homes. The agent and you will discuss your criteria (location, price,  size and style). Once you have had the conversation with your agent you are now ready to begin.

1. The email list- The agent you are working with is going to email you the list of homes that meet your criteria. There may be a lot of homes on the email and this is the best way to compare and see what is available in the criteria you set. You will be able to eliminate most of the houses on the list just by seeing the photos and the address. Now even though email is the easiest way to see what is out there you are not done choosing the home to make an offer on. Let’s face, it seeing things online can be embellished and made to look better on a computer screen than in real life. Which brings us to the next important step.

2. The “Drive by”- You have gone through the email list of properties and are now ready to pick your favorites which can only be done with the “drive by”. The “drive by” means just that, drive through the neighbourhoods from the top selection of properties you chose from the email, and slowly driving by the homes from your list.  The drive by is a crucial part of finding your home, you are able to get a better feel for the neighboorhood as well as seeing the outside of the house and its condition at your convenience any time you wish without making an appointment. Now you are ready to select the properties that you would like to investigate.

3. Making the appointment – after all of the above work you are now ready to view the homes. Let your agent know which homes you thought were the best fit and don’t be scared to let them know your favorite  to least favorite.  Your agent handles everything from there and sets up all the appointments to get inside he home.

I understand that time is the most valuable commodity  in society today however something are worth exerting a little energy.  Even though your agent is working hard for you and finding you a list of properties, you have the  last decision, your agent’s job is to help you get the home you want.

For more info or if you have questions please contact Jeremy E. Hansen at jeremyhusrealtor@gmail.com

sell 100 dream homes at bargain prices in Detroit

Unprecedented coalition of 15 Metro Detroit cities, REALTORS, lenders, civic leaders, elected officials and non-profits teaming to sell 100 dream homes at bargain prices
Local, federal aid available to eligible buyers on first-come, first-served basis; awareness campaign kicks off Jan. 31 with Wayne, Oakland county events

FARMINGTON HILLS – An unprecedented coalition of REALTORS, lenders, non-profits, civic leaders, government policymakers and local elected officials will announce on Monday, Jan. 31, 2011, a new partnership to help sell at least 100 beautifully renovated foreclosed homes and newly built houses valued at $50,000 to $150,000 this year in 15 Metro Detroit communities to low- and moderate-income buyers.

More details will be announced during two “Open House” press conferences showcasing two of the newly restored homes at 8:30 AM Monday, Jan. 31, 2011, at 1457 Gloria Street, in Westland, MI 48185, and at 11:00 AM, 12730 Albany, in Oak Park, MI 48237.

“This partnership is a crucial element in our efforts to revitalize and rebuild communities in Metro Detroit and across Michigan,” said Michigan Association of REALTORS President Claire Williams. “By rehabilitating and returning foreclosed or abandoned properties to the affordable housing stock, we create more opportunities to improve the quality of life for families and ensure communities flourish as safe and appealing places in which to live.”

The new Metro Detroit coalition’s Neighborhood Stabilization Program (NSP) partnership was developed as part of the federal Housing and Economic Recovery Act of 2008 and is available for a limited time only. The 15 municipalities in Wayne, Oakland and Macomb counties are offering down payment assistance from as little as $5,000 up to as much as 50 percent of the purchase price of the home. The 15 municipalities partnering in the coalition include: Eastpointe, Ecorse, Ferndale, Hazel Park, Holly, Inkster, Keego Harbor, Lake Orion, Oak Park, Ortonville, Pontiac, Redford, River Rouge, Royal Oak Township and Westland.

In addition, the municipalities are investing the federal NSP funds they received to have Farmington Hills-based Home Renewal Systems restore these properties, spending anywhere from $20,000 to $100,000 beyond the sale price of the home. Home Renewal Systems is southeast Michigan’s largest NSP contract firm working exclusively to market and sell the municipalities’ housing inventory. To qualify for this program, buyers must have a minimum income of at least $1,200 per month (minimum income can include employment, social security, alimony and child support.) For qualified buyers, down payment assistance and credit counseling are available through several government programs.
The events mark the kick-off of a statewide campaign the Michigan Association of REALTORS (MAR) will coordinate with local civic leaders, the Michigan State Housing Development Authority (MSHDA) and the National Community Stabilization Trust during 2011 to help prevent the harm caused by home foreclosures and rebuild Michigan communities.

MAR President Williams will be joined during the announcement by the presidents of the Western Wayne Oakland County Association of REALTORS (WWOCAR), the Metropolitan Consolidated Association of REALTORS (MCAR); executives with Home Renewal Systems, the U.S. Dept. of Housing and Urban Development Detroit Field Office, and the Michigan Credit Union League; non-profits such as National Faith HomeBuyers founder and CEO Dina Harris in Wayne County and Oakland County Community & Home Improvement Manager Karry Rieth; lenders such as Bank of America, Charter One and Fifth Third Bank; and elected officials and civic leaders representing municipalities in Wayne, Oakland and Macomb counties, including Westland Mayor William D. Wild, Oak Park Mayor Gerald Naftaly and Oakland County Director of Economic Development and Community Affairs Maureen Krauss.

“If you have the big desire to purchase a home for your family, then now is the best time to do so,” said WWOCAR Executive Vice President Dale Smith. “We have made the decision that our role as REALTORS is much greater than simply helping folks buy and sell houses. We owe it to our clients to help them find or keep their homes and not only survive in but thrive in Michigan.”

The National Community Stabilization Trust is a national nonprofit organization working with states and local municipalities, and other housing organizations to create access to the foreclosed property inventories of the nation’s largest financial institutions.  The Stabilization Trust’s programs ensure that local housing providers can more easily purchase foreclosed properties to renovate and reuse as affordable housing as part of a neighborhood stabilization strategy in communities that have been deeply impacted by the housing crisis.

“Out of trying times can come unique opportunities,” said Craig Nickerson, President of the Stabilization Trust. “Every foreclosure that is transformed into a new homeownership opportunity for a well-informed Michigan family helps stabilize property values and enhance community confidence.  We are pleased to work closely with the Realtors, Home Renewal Systems and other housing partners, paving the road to recovery in communities hard hit by foreclosure and vacancy.”

Michigan foreclosures are selling at a 40 percent discount, one of the highest in the nation, according to RealtyTrac’s third quarter data report released in December. The average sales price of foreclosures during the quarter was $72,266. In Metro Detroit, the average foreclosure sales price during the third quarter for 2010 was $48,719 in Wayne County, $99,698 in Oakland County and $74,244 in Macomb County. The average discounts on those foreclosed homes ranged from nearly 30 percent in Macomb County to almost 40 percent in Oakland County and close to 50 percent in Wayne County.

To purchase a house, the income of a one-person household must be below $58,700, and a percentage of the homes are being designated for buyers earning less than $24,450. The income threshold for a four-person household would be $83,900, with some homes designated for those households earning under $34,950. As part of the coalition effort, Home Renewal Systems is teaming with non-profits and MAR to offer education seminars, at no cost to home buyers, that guide buyers through the process and responsibilities of owning a home.

“These foreclosed houses are ideal for potential buyers with small budgets, especially as they start to receive their federal and state tax returns,” said Home Renewal Systems Vice President Shannon Morgan. “People with a limited budget think that because of the high amount of newly built houses, they can never have their own. However, this has changed since foreclosed homes have increased. The fact is these houses are great investments for buyers and families.”

Michigan ranked seventh nationwide for its 2010 foreclosure rate, according to annual figures released by RealtyTrac. The state had one foreclosure filing for every 33 households compared with the national rate of one for every 45 households. Filings were up by nearly 15 percent from 2009 and up 28 percent from 2008 figures in Michigan. The state saw filings on 135,874 properties.

“Many people may feel that it is unfair that their property value should suffer because others couldn’t afford their mortgage,” said MCAR Interim Chief Executive Officer Steve Tschirhart. “This is why all that can be done to prevent foreclosures should be encouraged – not only to save the homeowners from misery but also to help preserve and maintain the viability of the community as a whole.”

National Community Stabilization Trust is a nonprofit organization that was created to revitalize neighborhoods affected by the foreclosure crisis. The Stabilization Trust facilitates the transfer of foreclosed and abandoned properties from financial institutions nationwide to local housing organizations, and provides access to financing in order to promote productive property reuse and neighborhood stability. Formed in 2008 through an unprecedented collaboration Enterprise Community Partners, the Housing Partnership Network, the Local Initiatives Support Corporation (LISC), National Council of La Raza (NCLR), National Urban League, and NeighborWorks America, the Stabilization Trust works with state and local governments and community based housing organizations to build capacity to effectively acquire, manage, rehab and sell foreclosed property to expand homeownership and rental housing available to low- and moderate-income families. Visit www.stabilizationtrust.com to learn more.

beautiful Free Press article by Michael Hodges

I frequently go online to research the local real estae scene and learn the trends in our local market. I found this article written by Michael Hodges and it proves the fact that the city of Detroit is a viable city for working artists, please enjoy this article.

————-

At first glance, the hardscrabble neighborhood north of Hamtramck might seem an unlikely spot for an artists’ colony.

Typically, such communities favor bucolic settings or ocean views, like California’s Carmel-by-the-Sea, a famous artists’ retreat before it was overrun by tourists.

But then, northeast Detroit has virtues Carmel never had — among them $100 houses, one of which is being purchased by two Chicago artists, Jon Brumit and Sarah Wagner.

Their plan is to move to this budding community near Klinger Street and the Davison, to live in a tiny bungalow with a fire hole in the roof.

Against all odds, Detroit’s downsides — foreclosures and a collapsing manufacturing base — suddenly look like assets, at least for starving artists, and even successful ones, in search of space and cheap digs.

It’s an appealing prospect for people like Brumit and Wagner, or German artist Ingo Vetter, who says by e-mail from Stockholm that he hopes to move to America’s grittiest city as soon as he can.

Beyond the property deals are the harder-to-quantify attractions of a city now almost as fabled worldwide as New York or San Francisco — albeit in a slightly different vein.

“Detroit wins because it’s Detroit,” says Toby Barlow, a novelist who moved here from Brooklyn, N.Y., a few years ago. He wrote an affectionate essay on the city and its appeal to artists in Sunday’s New York Times.

“Detroit wins because it has the reputation for being the worst place on Earth. You’re not going to sound cutting-edge,” he adds with a laugh, “by starting an artists’ community in Cleveland.”

The real-estate blitz in northeast Detroit went like this: Three years ago, artist Mitch Cope and his wife, architect Gina Reichert, bought a house in a neat-but-shabby neighborhood populated by Bangladeshis, Bosnians and African Americans.

As real-estate prices tanked with the economy, they picked up another house for $1,900, and two empty lots for $3,000.

A $500 house fell into their laps, which they promptly sold to friends Corine Vermeulen-Smith and her husband Zeb, a photographer and sculptor, respectively. Cope and Reichert charged them $550 — netting a tidy $50 profit.

And it was Cope who called Brumit this winter to say that if he acted fast, he could snag a house — only slightly fire-damaged — for $100.

Locals seem relieved that someone is buying abandoned properties. Of Cope and Reichert, who have made a point of getting to know families nearby, longtime resident Mohammed Mehid says, “They’re good neighbors. One-hundred percent!”

Beyond cost and Detroit’s unique aesthetic, however, there are practical advantages that wow visitors from glitzier cities.

“Friends are always struck by how much freedom and time we have,” Reichert says, compared to friends in L.A. or New York who spend most of their time hustling to earn a living to support their art.

Newcomers see an unusual receptiveness in Detroit as well.

“There are so many interesting things going on here that you couldn’t do in New York,” says Barlow, “both because of cost and crowding, and the fact that everyone’s overseeing everything. Whereas in Detroit, it’s like, ‘You’re trying to do that? Neat.’ ”

Cope’s budding community is not the only artistic node taking root within the city limits. Motor City Blight Busters, which has revived much of the area around Grand River and Lahser on the west side, now has five artists in residence at its Artists Village next to the Redford Theatre.

For their part, once Brumit and Smith renovate their new homes, three artist-couples will reside within shouting distance of one another — a cozy little community.

And more may be on the way. In April, 10 grad students from the Dutch Art Institute will arrive for a work residency that Cope arranged.

As Vetter says, “Detroit is a perfect place for artistic production — plenty of space, amazing people with knowledge about techniques and materials, and an open-minded spirit. To be part of this place is exciting.”

You can reach Michael H. Hodges at (313) 222-6021 or mhodges@detnews.com.

From The Detroit News: http://detnews.com/article/20090313/LIFESTYLE/903130306/Detroit-s-hard-edge—-and-dirt-cheap-real-estate—-attract-artists-from-around-the-world#ixzz1BE3NX5Vj

 

the old cliche

one person’s loss is another person’s gain.

unfortunately with the right credit and enough money saved, the real estate market is a prime example of this old cliche.

houses are available for $500, sometimes if you are willing to pay the taxes ou can pick them up.

this is from house predictor, a site that keeps up on the the hosing market and stats.

The Great Lakes region is leading the U.S. out of the housing downturn as lower home prices trigger an increase in buyers with government incentives. The shake-up in Housing Predictor’s best 25 housing markets for 2010 leaps Detroit, Michigan one of the worst impacted markets in the nation to the #1 position. Detroit is now forecast to experience double-digit appreciation in home prices for the year.

people are seeing the deals and taking them.  The 2011 market will become much more competitive and investors will be buying.

these will be cash deals , so if you even considering of some having a piece of land in Detroit, now is the time.

artists moving to Detroit

As the real estate market fluctuates so does the art market.  Detroit provides a great opportunity for artists to live and work in an affordable city.  Detroit is known for its derelict and abandoned buildings and factories but the silver lining is it is a catalyst for an artist/bohemian lifestyle.  For a small investment of around $10,000, which would be about 10 times that amount in any other major city,  an entrepreneurial spirit and the power of the internet , Detroit is a hotbed for artists to work and maintain creative relationships.

here are a couple examples of beautiful/ studios located in Detroit, click the link below.

V\http://pub.realcomponline.com/publist.aspx?a=753707A7B63393738373A3B3D634B3B63&b=63D4F3A574C3A4C4759533A4C3A4A

I love Detroit

Jeremy E Hansen