tag:blogger.com,1999:blog-57900870429860951652012-01-02T08:59:10.197-05:00Real Estate News - from Coldwell Banker Weir Manuel: Your Trusted Advisor In All Things Real Estate. Accurate news about real estate in South East Michigan, Oakland County, and across the United States.Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.comBlogger1171100tag:blogger.com,1999:blog-5790087042986095165.post-4642711181804782652010-03-29T11:31:00.000-04:002010-03-29T11:31:00.753-04:00

A recent closed transaction in which we were involved revealed an interesting twist on a foreclosure sale involving a bankruptcy. The facts are these.A homeowner filed personal bankruptcy. Because the debtor owed substantially more on his personal residence than its value, the trustee released the property from the bankruptcy proceeding. This is a common practice when an asset has no equity

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-38161802139729484862010-03-22T16:55:00.000-04:002010-03-22T16:56:22.133-04:00

We are currently witnessing a rash of new municipal ordinances dealing with vacant homes. Some municipalities believe that by regulating vacant homes, their potential negative impact on property values may be avoided.These ordinances typically feature a registration process, registration fees and inspection fees. In some cases, municipalities are even going so far as to require buyers to acquire

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-42325733340055333072010-03-18T12:52:00.000-04:002010-03-18T12:54:03.757-04:00

Fixating on price in real estate may cost you the deal:* Sellers who decide that a specific dollar figure will buy their home and won't budgefrom that bottom line may sell themselves short.* Buyers who drop out of a transaction for a property they love because the seller'scounter-offer shocks them may be quitting before they have really started negotiating.When a buyer makes an offer to

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-14317135075524646162010-03-15T17:38:00.001-04:002010-03-15T17:40:10.371-04:00

For some two hundred years, homeownership in this country was a desire of almost every American family. Due to the excesses of the past decade, some are now suggesting that the concept of homeownership should no longer be pursued. We must be careful as a society that short term economic turmoil does not reset valued long-term thinking. The majority of Americans still

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-3369101642030952082010-03-15T10:32:00.000-04:002010-03-15T10:32:13.220-04:00

Realtors hope for spring thaw in sales | detnews.com | The Detroit News

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-69666703934359819612010-03-02T14:42:00.000-05:002010-03-02T14:43:14.824-05:00

1. Sometimes, they get the job done.Many agents and homeowners are skeptical about the statistical unlikelihood of actually snaring a buyer who walks in off the street. But the fact is that many properties have been sold via open houses: either the buyer at the open house engages his real estate agent and request a one-on-one appointment, or the buyer will submit an offer the day of the open

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-11932931341556576222010-02-26T16:09:00.001-05:002010-02-26T16:11:32.418-05:00

Sales associates working with buyers interested in a bank-owned property are well advised to leave some of their traditional thinking behind.To avoid unmet expectations it is extremely important that the selling agent educates both himself and his clients about the realities of REO brokerage. REO listing brokerages are required to conform to each of their clients’ (banks or third party asset

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-46561455240751162562010-02-22T06:07:00.001-05:002010-02-25T16:32:22.116-05:00

Many agents and homeowners are skeptical about the statistical unlikelihood of actually snaring a buyer who walks in off the street. But the fact is that many properties have been sold via open houses: either the buyer at the open house engages his real estate agent and request a one-on-one appointment, or the buyer will submit an offer the day of the open house, immediately after viewing the

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-45995432455917357272010-02-15T14:12:00.001-05:002010-02-15T14:12:37.261-05:00

When considering the acquisition of a property that will be a short sale, make sure that you understand the process and set expectations accordingly. One big difference between a short sale and a conventional sale is the approval process. Although many lenders are streamlining their procedures, it can still take 45 days or more from contract acceptance to receive lender approval. Here are some

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-59677540958215679802010-02-15T14:10:00.001-05:002010-02-15T14:10:43.213-05:00

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Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-41179063598856259562010-02-12T13:34:00.007-05:002010-02-15T15:00:46.579-05:00

Coldwell Banker Weir Manuel, your trusted advisor in all things real estate, will be hosting complimentary property tax seminars to educate tax payers about the appeal process. Homeowners will learn how to read and interpret their assessment notices. We will also explain the difference between State Equalized Value, Capped Value and Taxable Value – and the uncapping process. In short, our

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-25735585969780796702010-02-09T10:24:00.000-05:002010-02-09T10:25:37.320-05:00

The affordability of home ownership is affected by many factors including housing prices, interest rates, short term tax incentives and long term tax deductions. Besides housing prices, the single most important factor impacting the out-of-pocket monthly cost of home ownership is interest rates. Where are interest rates headed in 2010? Here is what some experts are predicting: HSH & Associates:

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-26334443222305816822010-02-01T18:08:00.001-05:002010-02-01T18:08:55.446-05:00

Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, said on Friday that the government-backed mortgage finance giants Fannie Mae and Freddie Mac are likely to be abolished and replaced with a new system for housing finance. "The committee will be recommending abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-68908756209825036652010-01-25T16:45:00.001-05:002010-01-25T17:20:10.098-05:00

It's that time of the year again when homeowners need to begin thinking about their property taxes. Next month, municipalities will be mailing property owners Property Assessment Notices for 2010. Shortly after that, normally about the second week in March, local Boards of Review will hear property tax appeals.For the third year, Coldwell Banker Weir Manuel will be hosting property tax seminars

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-44032268175603577852010-01-19T10:31:00.000-05:002010-01-19T10:31:01.712-05:00

One major initiative in 2010 will be the consolidation of our two Birmingham offices. We have acquired the building at 294 E. Brown Street, a 20,000 square foot facility right across the street from our current Birmingham North location.The building will be redesigned by noted local architect Victor Saroki and renovated inside and out. The building will feature state-of-the-art technology and

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-56357885627346994502010-01-18T10:27:00.001-05:002010-01-18T10:27:00.359-05:00

As we enter our first full year as Coldwell Banker Weir Manuel our goal is to build on the foundation created during the second half of 2009. Accordingly, our theme for 2010 is “Expect More”.This theme is based on the concept of collaboration among the stakeholders of CBWM: ownership, management, the sales team and our employees. I think we can even expect a bit more from the market this year!“My

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-50666181374753454822010-01-11T15:22:00.000-05:002010-01-14T15:39:12.898-05:00

Consumers are finally learning that there is more to choosing a mortgage than just a low interest rate. A good mortgage planner is more in the advice business than the lowest price business. Borrowers should consider asking these questions before selecting a lender:1. What type of lender should I use? There are three basic types of lenders. Mortgage BROKERS promote a broad product menu,

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-66525104342337792542009-12-28T09:44:00.000-05:002009-12-29T09:45:49.861-05:00

The sales pace for resale homes rose for the third straight month in November, climbing 44.1 percent compared to the same month last year, the National Association of Realtors reported last week.Sales reached a seasonally adjusted annual rate of 6.54 million, up 7.4 percent compared to October 2009. This rate is a projection of a monthly total over a 12-month period, adjusted to account for

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-49110002978162487132009-12-21T15:39:00.000-05:002009-12-21T15:40:24.732-05:00

Coldwell Banker Weir Manuel (CBWM) announced today that it has partnered with Farmington Hills, Michigan-based Attorneys Title Agency (ATA), headed by David Trott, to form Bankers Title Agency, LLC.“The roll-out of Bankers Title is another step forward in implementing the strategic expansion plan we developed 90 days ago,” said Kelly Sweeney, CBWM CEO. “Bankers Title will provide exclusive,

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-89288831000406374002009-12-09T12:20:00.001-05:002009-12-09T12:20:54.641-05:00

The biggest mystery to me over the last eighteen months was why banks weren't more receptive to the “short sale” process. Studies have shown that it costs the bank more money if a property was foreclosed upon than if they accepted a “short sale”. For homeowners, a “short sale” makes much more sense for several reasons:• There is a much higher chance that the deficiency judgment could be

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-40010597467899918422009-12-07T10:44:00.000-05:002009-12-07T10:44:00.172-05:00

hort sales can represent excellent buying opportunities for certain purchasers. But short sales are quite different than traditional real estate transactions, and they've been known to frustrate and disappoint buyers who are unschooled in their complexities.Five things short-sale buyers ought to know:1. Short sales are almost never short, so to the patient buyer go the spoils. The process, from

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-26016115280345367452009-11-30T09:57:00.000-05:002009-11-30T09:57:00.228-05:00

Branding is everything. Think about the power of Nike, Coke, Ritz-Carlton, Southwest Airlines, McDonald's or Starbucks. Just what is it that these brands do?They make a promise. A promise of something verifiable by the consumer during or after the purchase: quality or consistency of product, service, pleasure, cost savings or experience.Even if the verification is entirely subjective, a

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-14539576959461799592009-11-23T12:00:00.001-05:002009-11-23T12:02:20.565-05:00

The NAR recently published its annual report on home buyer and seller statistics. Below is a brief summary of some of the relevant findings:• Forty-seven percent of recent home buyers were first time buyers. The typical first time buyer was 30 years old and the repeat buyer was 48 years old.• Over 90 percent of home buyers used the internet to search for homes.• Seventy-seven percent of

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-10675575221284856172009-11-17T11:07:00.001-05:002009-11-17T11:08:46.420-05:00

Realtors have been up in arms about the Home Valuation Code of Conduct sinceFannie and Freddie implemented the new rules governing appraisals implemented inMay.Jerome Nagy, senior policy representative, said on Friday that NAR was concernedwhen, this summer, FHA Commissioner David Stevens indicated FHA would also adoptthe rules. After NAR met with Stevens, FHA announced new appraisal guidelines

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-55384485159145383382009-11-04T10:36:00.000-05:002009-11-04T10:37:44.772-05:00

I continue to receive questions daily about the future of our local market and what real estate sales and prices might do next year. I’m not sure why anyone would think that I have a better crystal ball than they, particularly since I have stated for two years that we won’t know the market has actually turned until several months after it occurs.What I can state today is that we are witnessing

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-22420801562555673922009-10-25T10:38:00.001-04:002009-11-04T10:39:24.170-05:00

It’s been nearly 30 years since the last significant real estate downturn in Michigan. That occurred in 1981 and was primarily driven by double digit interest rates. Mortgage rates peaked at about 18% then and real estate sales would have come to a screeching halt, but for many sellers having the ability to convey property via land contract.Real estate sales are now being impacted by factors that

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-45213135695622409222009-10-20T14:43:00.003-04:002009-11-04T10:47:41.142-05:00

Over half of all transactions closed today fall into the bank‐owned or bank‐approved short sale category. In these cases, many offers to purchase are either written on contract forms provided by a lender or modified by an addendum provided by a lender.In virtually all these cases, the provisions of these contracts transfer much of the transaction risk from the seller to the buyer. It is

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-66913110590246012582009-10-19T08:28:00.000-04:002009-10-19T08:28:00.228-04:00

Over half of all transactions closed today fall into the bank-owned or bank-approved short sale category. In these cases, many offers to purchase are either written on contract forms provided by a lender or modified by an addendum provided by a lender.In virtually all these cases, the provisions of these contracts transfer much of the transaction risk from the seller to the buyer. It is

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-9619981554359259272009-10-12T06:04:00.000-04:002009-10-12T06:04:00.534-04:00

Because of the crunch to get all the first time buyer closings scheduled before the November 30 tax credit deadline, we are advising that scheduling closings on the last few days of November be avoided if possible.The November closing calendar is complicated by the fact that the 30th is a Monday and the Thanksgiving Holiday falls at the end of the prior week, eliminating three critical business

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-88404473694161816532009-10-05T13:13:00.001-04:002009-10-05T13:13:42.494-04:00

The opportunity to take advantage of the First Time Home Buyer Credit may soon be gone. The current $8,000 tax credit is available for homes or condos purchased and closed on by December 1, 2009.Given the popularity of the current program, Realtors, lenders and appraisers are very busy processing transactions for first time buyers – which, by the way, also include former homeowners who have not

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-42992052584125405382009-09-29T20:06:00.000-04:002009-09-29T20:08:16.861-04:00

It’s the hottest topic in residential real estate today. The Home Valuation Code of Conduct (HVCC) is a new set of appraisal-related practices that lenders must follow in connection with loans they want to sell to Fannie Mae or Freddie Mac. These new practices are intended to reduce the incidence of appraisal fraud and prevent inappropriate pressure being placed on appraisers to inflate home

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-70562781558029041312009-09-25T14:51:00.003-04:002009-09-25T14:54:24.157-04:00

Even more homes on sale!Check out these price reduced homes andSunday, September 27th Open Houses!For a complete list of event specials visit www.cbweirmanuel.com/pricereductions.phpclick on image

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-40059534424360191182009-09-21T15:54:00.000-04:002009-09-22T15:56:29.616-04:00

The following data has been extracted from the Winans International Real Estate Index. The data shows significant increases in new home sales (unit sales, not prices) which has led to a decline in new housing inventory.Percentage Change Since December 31, 2008:U.S. West NE South MidwestPrice -2% -5% -8% 3% -5%Sales 56% 50% 50% 21% 75%Listings -34% -24% -14% -19% -19%U S Housing Inventory = 7.9

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-8004158537798909392009-09-15T11:15:00.002-04:002009-09-15T11:17:12.680-04:00

If your clients are searching for a place that will enliven the senses and quiet the soul, one visit to Forest Dunes will reveal why it is unrivaled by any community in the Great Lakes Region.Carefully placed among 1,200 rolling, forested hillsides and sheltered by over 430,000 acres of the Huron National Forest on three sides, Forest Dunes has a rich history. The property has played host to

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-12344264650554232832009-09-11T11:35:00.002-04:002009-09-11T11:39:27.514-04:00

Check out these price reduced homes andSunday, September 13th Open Houses!For a complete list of event specials visit www.cbweirmanuel.com/pricereductions.phpclick on image

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-44446584770840020352009-08-28T12:42:00.002-04:002009-08-28T14:09:52.336-04:00

Weir Manuel Realtors announced last week that it has joined the Coldwell Banker brand and has absorbed Coldwell Banker Schweitzer Real Estate to form Coldwell Banker Weir Manuel. The announcement was made by Weir Manuel CEO Kelly Sweeney and Coldwell Banker Schweitzer CEO Paul Schweitzer.Our new company, which is owned by Kelly Sweeney, Tom Balames and David Trott, is now one of the largest real

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-90335720081519234402009-08-18T19:21:00.001-04:002009-08-18T19:26:05.362-04:00

WEIR MANUEL JOINS COLDWELL BANKER BRAND AND EXPANDS THROUGH ACQUISITION OF COLDWELL BANKER SCHWEITZERNew Company Has Plans for Statewide ExpansionBirmingham, Mich. (August 18, 2009) — Weir Manuel Realtors, a leading Michigan independent real estate firm, today announced that it has joined the Coldwell Banker brand and has absorbed Coldwell Banker Schweitzer Real Estate to form Coldwell Banker

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-83264291484640087832009-08-03T13:41:00.002-04:002009-08-03T13:44:24.080-04:00

Social media networking (for example, Facebook, Twitter and the like) has perhaps been the fastest growing phenomenon in our society in recent memory. It is interesting to note how these media transcend the divide between social interaction and business networking.Due to the nature of real estate sales, there is perhaps no better arena in which online social networking has applicability. That

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com1tag:blogger.com,1999:blog-5790087042986095165.post-6274865315874552572009-07-28T16:33:00.002-04:002009-07-28T16:38:07.914-04:00

LUXURY HOME - THE CONSUMMATE HOMEShared via AddThis

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-26084635243769271202009-07-20T15:30:00.000-04:002009-07-20T15:30:00.426-04:00

Just as the Titanic was the ship said to be unsinkable, who would have ever thought General Motors, once the most powerful and profitable corporation in America, would become insolvent? The value of GM’s stock hit $0.31 last week and may actually be at zero by the time you read this.While many investors have made substantial gains investing in stocks such as GM, one must also realize that there

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-30120857297762702482009-07-13T17:38:00.000-04:002009-07-15T17:38:56.296-04:00

Notwithstanding the precipitous drop in real estate prices and the problems we are currently having with mortgage appraisals, the most common complaint I hear from WMR agents every day is about the short sale process. It takes too long, documents get lost by the processors and must be re-submitted, you speak with a different person every time you call the lender and that's only after being stuck

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-361321373476668112009-06-24T11:26:00.000-04:002009-06-24T11:27:49.928-04:00

One of the biggest factors slowing the real estate market today is the hesitation of buyers to assume the risk of buying another home before selling their existing residence. Most buyers simply cannot buy until their current property is sold. There may be several buyers interested in a seller’s current home, but they are in the same position and can’t commit to buy before they sell, either! This

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-32261113202738379842009-06-15T16:03:00.000-04:002009-06-15T16:04:20.407-04:00

The big buzz in real estate right now is all about how the first time buyer tax credit. No one has quite figured out how it can be monetized to become available to purchasers at the time of closing. HUD has repeatedly issued and rescinded guidelines on this matter and we are still waiting for the lending industry to figure it out.Consider this alternative approach. Qualified buyers may elect to

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-14794096324418358002009-06-08T09:36:00.000-04:002009-06-09T09:39:01.131-04:00

When it comes to being a good corporate citizen, sometimes it the little things that count. Weir Manuel Realtors recently recognized this by performing an energy audit.While it may not be feasible for us to go green in a big way by tearing down our buildings and creating new state of the art green facilities, there is much that can be done with our current operation. Here are just a few things

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-19425768291480763492009-06-04T16:02:00.000-04:002009-06-04T16:03:12.875-04:00

For many years real estate brokerages have endeavored to differentiate themselves from their competition based on providing superior customer service. In the minds of most Realtors, great customer service meant always being available to their clients, returning calls promptly and expediting the various elements of the real estate transaction.Coupled with knowledge and expertise, providing great

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-78094738886295877602009-05-25T08:56:00.000-04:002009-05-25T08:56:00.230-04:00

Forward thinking real estate investors are now taking advantage of the best residential real estate buys in more than a decade. Based on today’s low homes prices and interest rates it is now possible to buy single family homes and rent them out on a positive cash flow basis.Consider this: due to the large number of short sales and foreclosure sales occurring now, a growing number of new renters

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-44379550911869215682009-05-19T11:12:00.001-04:002009-05-19T11:15:07.333-04:00

Last week the Birmingham Bloomfield Chamber of commerce hosted their annual Real Estate Forecast luncheon. The format was based on questions from the moderator and answers from each of the three panelists. The panel consisted of three local real estate experts.One of the most interesting questions asked was, “Is anything selling in this market and, if so, what kinds of homes are selling and what

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-37967798679920182952009-05-11T11:22:00.000-04:002009-05-11T11:22:00.849-04:00

Last week I reported that U of M economists have forecasted a return to stability in our core real estate market next year (see REWeekly 5/4/09). That is cause for celebration as we have all been looking for the bottom of this free falling market for over four years. Once stability has been achieved, much of the fear will be dissipated and consumer confidence will begin to rebuild.This is all

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-49840112289222653962009-05-05T10:36:00.001-04:002009-05-05T10:36:56.631-04:00

“Single family home prices are expected to bottom out late in 2009 and then stabilize during 2010.”That is the conclusion of George Fulton and Donald Grimes, the renowned economists from the University of Michigan. In their 24th annual Oakland County Economic Outlook presentation given on April 30, 2009, they forecasted another difficult year for unemployment with a turnaround expected beginning

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-7899597340344627932009-04-27T16:46:00.000-04:002009-04-27T16:46:00.493-04:00

It’s no secret that the average age of a Realtor is a bit higher than the average age of most employees in other business sectors. Worse yet, the average age of brokerage owners is even higher. No wonder that the real estate profession sees the world through older, typically Baby Boomer, eyes.Because the Baby Boomers are 77 million strong, they tend to view the world as “boomer centric.” They

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-32861557293936174802009-04-20T09:25:00.000-04:002009-04-20T09:25:00.241-04:00

Two questions come to mind regarding the public’s perception about our role. First, do they understand the entire scope of what we do and how we get paid? And second, if not, why not, and how do we educate them?Let’s start at the beginning. There is no doubt that some consumers are confused about how Realtors work. Why wouldn’t they be? In the current service model, which has been in existence

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-38382782467719103162009-04-13T15:02:00.000-04:002009-04-14T15:03:32.753-04:00

Pulte Homes Inc. agreed to acquire Centex Corp. Wednesday in a stock-for-stock deal valued at $1.3 billion that will create the nation's largest homebuilding company. Pulte President and Chief Executive Officer Richard J. Dugas Jr. was optimistic that the combination "puts us in an excellent position to navigate through the current housing downturn." The combined company will use the Pulte name

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com2tag:blogger.com,1999:blog-5790087042986095165.post-25107177942472807792009-04-13T15:01:00.001-04:002009-04-14T15:04:08.423-04:00

It has been said that there are only two kinds of real estate brokerages today; those that have proactively right sized their brick and mortar operations to reflect current economic conditions and thereby remained profitable and those that waited until after they filed Chapter 11 to downsize.The “virtual office” concept has been utilized successfully in other business sectors for many years and

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-89542118833485759452009-04-09T09:33:00.002-04:002009-04-09T09:39:26.700-04:00

Most experts agree that the market is still going lower, however, we are far closer to the bottom than the top. No one can predict the exact time the market will bottom out and most experts also agree that for people that want to buy a home, there is no better time than now. We will not know that we have reached the bottom until prices have already begun to climb. In addition to today’s extremely

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-78880833326943687962009-04-08T13:06:00.004-04:002009-04-08T13:14:21.994-04:00

REMINISCENT OF GRAND HOMES OF PACIFIC NW841 HighwoodBloomfield, MI 48304$1,700,000Reminiscent of the grand homes of the Pacific Northwest! Builder's own home! Features include: 1st floor master, exceptional finished walkout w/theater/in law suite, wine closet. Screened sun porch. 6 car heated garage. Lots of wood, slate & glass. One of a kind. Must see!!MLS# 29046565Price: $1,700,000Approx. SF:

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-7873836892321820462009-04-07T16:14:00.001-04:002009-04-07T16:14:56.427-04:00

It has been said that there are only two kinds of real estate brokerages today; those that have proactively right sized their brick and mortar operations to reflect current economic conditions and thereby remained profitable and those that waited until after they filed Chapter 11 to downsize.The “virtual office” concept has been utilized successfully in other business sectors for many years and

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-41473871279630909402009-04-07T11:15:00.012-04:002009-04-07T13:39:50.062-04:00

Homes successfully marketedby Weir Manuel Realtorsin Birmingham/Bloomfield291 Linden, BirminghamListed and sold in one day!Sold: 3/4/2009Listed at: $950,000Listed by: Jennifer Zachary987 Bennaville, BirminghamSold: 3/20/2009Listed at: $519,000Listed by: Tim Holden673 Vinewood, BirminghamSold: 3/31/2009Listed at: $500,000Listed by: Marty Barrett120 Guilford, Bloomfield HillsSold: 3/12/2009Listed

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-38511892044553217962009-04-06T16:42:00.002-04:002009-04-07T13:44:50.752-04:00

FOR IMMEDIATE RELEASE April 21, 2009Contact: Sue Falk248-651-3500COMMERCIAL AND RESIDENTIAL AGENT JOINS WEIR MANUEL REALTORSBirmingham, Michigan, April 21, 2009 Weir Manuel Realtors is pleased to announce that Sheila Kowalski has joined its Rochester team. “Sheila brings new opportunities to us as well as 20 years of excellence in service,” said Sue Falk, manager of the Rochester office.Weir

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com2tag:blogger.com,1999:blog-5790087042986095165.post-44393340078421922732009-04-06T09:37:00.000-04:002009-04-06T09:37:00.460-04:00

With all due respect to David Letterman’s list of top ten’s, this week I am providing my list of the top five positives in our current market. Recognizing the fact that property values in SE Michigan have been cut in half over the past five years, I am cutting the list in half. So here they are.Number 5: The market is still declining, but we are far closer to the bottom than we are to the

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-6105012939818016932009-04-03T11:40:00.002-04:002009-04-03T11:41:25.440-04:00

Kelly Sweeney, President & CEO of Weir Manuel Realtors, was asked by Marie Obsorne of WWJ-News Radio, Detroit, to comment on the Obama housing recovery plan to help the average homeowner.

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-6695627189700140722009-04-03T10:59:00.000-04:002009-04-03T11:00:03.259-04:00

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-22345669403947269832009-04-01T12:30:00.002-04:002009-04-01T12:31:43.983-04:00

Weir Manuel proudly welcomes Erna Whitmire to our team!We are pleased to announce that Erna Whitmire has joined the Weir Manuel team. Erna, who previously practiced at Remax in the Hills, brings with her 15 years of top producer performance and real estate acumen.Erna’s prior experience at other brokerages led to her to decision to come to Weir Manuel: she appreciates our supportive culture and

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-16545718361758854042009-04-01T12:28:00.002-04:002009-04-01T12:36:09.093-04:00

We are excited to announce that George and Jane Ulrych have joined the Weir Manuel team. George and Jane have been in the real estate business for 20 years - all with Cranbrook Realtors.George is an Associate Broker and was most recently the Managing Broker of Prudential Cranbrook Realtors. Jane was a Sales Associate in the Birmingham office and was designated as a Fine Home Specialist with

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-23361141536712052002009-04-01T12:25:00.002-04:002009-04-01T12:28:38.271-04:00

We are excited to announce that Kendra McConnell Hurd has joined the Weir Manuel team. Kendra, formerly of Professional One Real Estate, has five years’ experience as an agent.Kendra says, "Weir Manuel is an institution in our community, and I’m very pleased to be invited to become a part of that tradition." She continues, “I’m impressed by the professionalism exhibited by everyone here.”Kendra

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-74058040859492966232009-03-30T09:42:00.001-04:002009-03-30T09:43:40.871-04:00

I have been involved in many conversations recently with Realtors and others about the failure of many homeowners to take responsibility for the debt they have incurred during prior years of “go-go” credit. These conversations have encompassed not only mortgage loan debt but credit card debt as well.I attended a seminar last week at which a self proclaimed bankruptcy expert encouraged people to

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-9216755143350872572009-03-23T10:20:00.001-04:002009-03-23T10:20:01.100-04:00

Historically, mortgage holders have acted fairly consistently when bidding on their own properties under the foreclosure process. They have typically bid the amount of the unpaid mortgage loan balance at the sheriff’s sale. Recently we have seen a trend whereby lenders are bidding substantially less than the outstanding loan balance. In many cases, the bids are 20-25% less than actual current

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-69878226571919093872009-03-09T10:18:00.000-04:002009-03-09T10:20:10.698-04:00

For the first time in many years it is now less expensive to own a home or condominium than to rent a comparable unit. With the recent introduction of the first-time-buyer tax credit, coupled with low home prices and all time low interest rates, home ownership is now an option that is hard to ignore for many who are currently renting.Add to that the ongoing income tax savings and the fact that

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-38091477420148874222009-03-02T14:33:00.000-05:002009-03-02T14:33:00.878-05:00

Credit Offers Up to $8,000 to Qualifying Taxpayers NowIn an ongoing effort to swiftly implement the Obama Administration's recovery plans, the U.S. Department of the Treasury last week announced the availability of an expanded tax break for first-time homebuyers – a provision under the American Recovery and Reinvestment Act of 2009 that will make up to $8,000 available now to qualifying taxpayers

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-78524039661615957992009-02-23T15:20:00.000-05:002009-02-23T15:21:45.935-05:00

Last week Congress and the President approved two initiatives that could help breathe new life into the residential real estate market. The first is the First Time Home-Buyer Tax Credit, which is part of the American Recovery and Reinvestment Act. The second is the $275 billion loan modification program.The new ARRA program raises the current maximum $7,500 first‐time homebuyer tax credit to

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-91497513080418845052009-02-16T16:49:00.000-05:002009-02-16T16:49:00.246-05:00

Homes.com, a real estate search site operated by Dominion Enterprises, this week launched a top-10 list of market areas with the largest growth in search activity at the site from January 2008 to January 2009.Search traffic grew the most in Detroit (up 52 percent); followed by Naples, Fla. (44.7 percent); Greensboro, N.C. (41.6 percent); Tulsa, Okla. (41 percent); El Paso, Texas (38.4 percent);

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-16551170873930829412009-02-09T09:41:00.000-05:002009-02-06T09:43:01.990-05:00

This is the time of the year when our clients receive annual tax assessment notices from the municipalities in which they own property. The client calls to us have already begun. We are being asked, “How can my property taxes go up when my property value is going down?”A complete understanding of Proposal A, which was implemented in Michigan in 1994, is necessary to answer this question. Smart

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-56008031396223040862009-02-04T10:26:00.001-05:002009-02-04T10:36:28.143-05:00

Weir Manuel Realtors has achieved the coveted status of “MD Preferred Real Estate Provider” and the privilege of displaying the MD Preferred Services Medallion. This distinction, awarded to fewer than 100 Realtors nationally by US Medical Specialties, a national healthcare consulting firm, recognizes Weir Manuel Realtors' experience and commitment to serving the unique needs and demands of today

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-22664536292307131282009-02-02T10:25:00.000-05:002009-02-04T10:26:06.964-05:00

Weir Manuel Realtors has taken a very proactive approach to helping its clients facilitate short sales. We have a Short Sale Division, specialized training for all WMR agents and a short sale team of selected agents and managers with even more in-depth training.Even so, short sales are not easy. Anyone who has participated in a short sale negotiation and facilitation will tell you that they

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-39945748953833574052009-01-26T16:56:00.001-05:002009-01-26T16:56:46.019-05:00

In the past, when building owners were foreclosed, renters often faced immediate eviction, even when the renters were up-to-date with their payments. Fannie Mae recently announced the establishment of a new National Real Estate Owned (REO) Rental Policy that will allow qualified renters in Fannie Mae-owned foreclosed properties to stay in their homes. The company currently has an eviction

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-37840251914035412312009-01-19T18:33:00.003-05:002009-01-19T18:38:33.722-05:00

Carolyn Bowen-Keating, vice president of our relocation division, is currently presenting her 2008 annual report of corporate relocation activity to each of our offices along with her projections for 2009. The report is full of helpful information, including summaries of the sources of our relocation business and how our relocation division is adapting to changes in the third party and corporate

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-3699365344866814572009-01-12T16:14:00.000-05:002009-01-12T16:15:29.325-05:00

There are two upcoming WMR events that I would like to highlight in this issue of our RE Weekly. One is our first annual Awards Presentation Breakfast which will take place on Wednesday, January 14. At that time, the 2008 Eagle and Sherwood Awards recipients will be named as well as the 2008 President’s Circle. It is the one opportunity we take each year to formally recognize those among us that

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-48540716372025609472009-01-05T09:04:00.000-05:002009-01-05T09:05:16.680-05:00

The market and our economy are kind of like the weather in Michigan; if you stick around long enough, things will probably change.On the heels of the subprime credit crunch and the worse plunge in the Dow since 1929, who would have thought that we would enter the new year with a stock market surge and mortgage rates at low enough levels to stimulate another refinancing boom? But that’s what we

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-16986083516081677952008-12-29T10:45:00.000-05:002008-12-29T10:46:25.290-05:00

We have all experienced the great void of true customer concern and the lack of professionalism among a number of practitioners in our industry. Mediocrity has become acceptable to those who don’t share a culture of excellence.Weir Manuel Realtors has long been known for its unique culture. There exists a sense of great internal pride here based upon our predisposition to exceed client

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-68917723230344460812008-12-22T15:56:00.002-05:002009-02-06T09:44:26.805-05:00

Fannie Mae announced last Monday that it is finalizing a plan to help renters stay in their homes even if their landlord enters foreclosure.The mortgage giant said it's working on a national policy to allow renters living in foreclosed properties — and who can make their rental payments — to sign new leases with Fannie while the property is up for sale. Or they could get cash to help move into a

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-72126221263496210452008-12-15T16:09:00.001-05:002008-12-15T16:09:49.241-05:00

Regardless of where any of us stand with regard to the federal loan guarantees for the Detroit Three, Congress, the President and the Treasury Department will do whatever they are predisposed to do. They haven’t called me for my opinion and it is questionable how much attention they have been paying to my letters, or anyone else’s for that matter. Washington decision makers do not appear to be

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-32557166455855720552008-12-08T15:42:00.003-05:002008-12-08T15:45:25.503-05:00

News that the Treasury Department may use Fannie Mae and Freddie Mac's influence on mortgage markets, pushing interest rates on home loans down to 4.5 percent, has raised hopes for a boost in home sales.The Wall Street Journal reported last week that the Treasury is considering using Fannie, Freddie and other government-sponsored entities to purchase securities backed by mortgages at a price

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-62401263952519982112008-12-01T11:34:00.002-05:002008-12-02T11:35:58.858-05:00

The latest consumer survey of homebuyers and sellers shows first-time buyers have risen in market share and plan to own their homes longer than buyers in the past. The 2008 National Association of REALTORS® Profile of Home Buyers and Sellers is the latest in a series of large national NAR surveys evaluating demographics, marketing, preferences and experiences of homebuyers and sellers.Lawrence

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-75797738149532033052008-11-24T15:58:00.000-05:002008-11-24T16:01:01.739-05:00

DESPITE ECONOMIC TURMOIL, THERE’S PLENTY FOR WHICH TO BE THANKFUL by Kelly SweeneyWoe is me, business is down and the world is coming to an end. How easy it is these days to become caught up in negative emotion. Houses aren’t selling, people have lost their equity and foreclosures are ubiquitous. Not so fast with the doom and gloom. Foreclosures are actually down in our state. Michigan has

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-8123529367686014632008-11-17T11:04:00.000-05:002008-11-17T11:05:32.237-05:00

Ten years ago, in 1998, Dr. Spencer Johnson wrote the book entitled, “Who Moved My Cheese?” It was a cute little story about Hem and Haw and various other rodents who reacted completely differently when the traditional sources and locations of their favorite food, namely cheese, were changed. This best seller raised our awareness about the real world paradigm shift created by information,

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-947077144618941992008-11-10T10:20:00.001-05:002008-11-17T11:06:19.609-05:00

Regardless of whether you were pleased or not with the outcome of last week’s national and local elections, the good news is that they are over. History has shown us that purchases of big ticket items, such as autos and houses, always suffer in the midst of uncertain times. While there is certainly enough continuing uncertainty on Wall Street to be of concern, the significant uncertainty of who

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-25132925779883471192008-11-03T09:46:00.001-05:002008-11-11T10:28:56.716-05:00

The National Association of Realtors announced last week that it will push for a four-point legislative plan which will create additional incentives for housing markets. Congress will be urged to act during the lame-duck session before the end of the year.NAR’s plan includes the following elements:1. Remove the requirement in the current law that first-time homebuyers repay the $7,500 tax credit,

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-49227627345898718772008-10-27T10:05:00.000-04:002008-11-11T10:26:45.084-05:00

The panic and fear that have been shaking Wall Street aren't translating into negative numbers for real estate -- in fact, it's been the reverse. While the Dow Jones index recently declined a record fourteen hundred points in a matter of days, the latest pending home sales index was moving in the opposite direction -- up strongly to its highest level in more than a year. Pending sales jumped by

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com1tag:blogger.com,1999:blog-5790087042986095165.post-63113610821615759622008-10-27T09:52:00.002-04:002008-11-11T10:33:25.070-05:00

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-17950794538552509912008-10-24T10:00:00.002-04:002008-11-11T10:34:05.564-05:00

While new technology has provided relief to many Realtors by increasing their efficiency, we must be careful not to allow certain tech tools to replace personal, hands-on business practices. Clients look for the highest quality, most competent personal customer service and trusted advice available. Below are some areas where relying solely upon technology may not lead to providing the best

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-38225426360662882922008-10-20T11:25:00.002-04:002008-11-11T10:37:35.338-05:00

All calm was lost last week on Wall Street and in the world financial markets. One would do well to revisit traditional wisdom in these panic stricken times. Such traditional wisdoms include the following:• Paper gains and losses mean nothing unless and until one sells.• Don’t sell when the market is down unless you absolutely need the money.• Remember: investing in financial instruments requires

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-10438479567374326792008-10-20T10:33:00.002-04:002008-11-11T10:38:58.706-05:00

The demographic and economic beliefs that have driven the housing demand for the past decade have now come into serious question:• The demographics-as-destiny argument. The expanding U.S. population -- immigration -- would fuel real estate demand well into the next decade.• Low mortgage rates. Cheap credit would keep home loans affordable.• Boomer wealth. Prosperity and the rolling over of assets

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-53381040768775220692008-10-13T09:35:00.001-04:002008-10-13T09:38:29.768-04:00

National City Mortgage advises that they are funding mortgages as usual despite the negative news regarding the banking liquidity crisis. The federal takeover of Freddie Mac and Fannie Mae several weeks ago has worked as planned. We have also heard that there may be some good news on the horizon regarding the availability of jumbo products. Please consult one of our National City reps for more

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-46085164921419326722008-10-13T09:34:00.000-04:002008-10-13T09:35:17.884-04:00

All calm was lost last week on Wall Street and in the world financial markets. One would do well to revisit traditional wisdom in these panic stricken times. Such traditional wisdoms include the following:• Paper gains and losses mean nothing unless and until one sells• Don’t sell when the market is down unless you absolutely need the money• Remember: investing in financial instruments requires

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-20880729458248867002008-10-06T11:17:00.002-04:002008-11-11T10:42:29.439-05:00

Amidst the tremendous amount of debate last week regarding the proposed “Wall Street bailout”, two things happened. First, Congress passed the Emergency Economic Stabilization Act of 2008. Second, almost everyone began asking, “Will it be good or bad for me?”It matters little now whether you were in favor of or opposed to the plan. The deed is done and Congress has spoken. And, quite frankly, it

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-42646666993847226832008-09-29T10:53:00.001-04:002008-09-29T10:56:31.720-04:00

Out of adversity comes opportunity. Despite the turmoil on Wall Street and rising unemployment statistics, the news is not all bad. There are still plenty of buyers in the marketplace with purchasing power. Low housing prices and low interest rates are stimulating aggressive buyers to seek bargains in virtually every market.Are there really bargains out there? You bet! Consider this. Properties

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-16271069413368120892008-09-22T14:32:00.001-04:002008-09-22T14:38:06.455-04:00

In the wake of last week’s bailout of Fannie and Freddie, news of restructuring at Lehman Brothers and Merrill Lynch surfaced last week. Then, the US Treasury stepped in and funded the AIG bailout averting the collapse of the “company that was too big to let fail.”Amidst all this turmoil, it is important to understand that we are better off today than we were yesterday. Our national economy is

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-8729517419834363482008-09-15T14:36:00.000-04:002008-09-22T14:37:18.201-04:00

Last week the US Treasury placed Fannie Mae and Freddie Mac under conservatorship. These entities are government sponsored enterprises which buy mortgage loans from banks, repackage them as securities and then re-sell them to investors. In doing so, this system frees up considerable local capital which, in turn, powers local real estate lending.This development is yet another piece of shrapnel

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-54040853356533512922008-09-08T16:54:00.003-04:002008-09-22T14:46:31.561-04:00

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-5207302380770116012008-09-08T14:41:00.000-04:002008-09-22T14:42:29.969-04:00

Technology has not eliminated the need for real estate agents as predicted by some in the past, but it has changed the dynamics of our relationships with the consumer.Today's market sends waves of information at consumers, a confusing bath of foreclosures, fluctuating values and changing lending rules. With all this information at our fingertips, it becomes clear that access to data alone will

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0tag:blogger.com,1999:blog-5790087042986095165.post-4399431930234471102008-09-01T14:24:00.000-04:002008-09-22T14:25:52.672-04:00

At a recent sales meeting I shared some statistics with you that indicated that Weir Manuel Realtors sells 12% more of the listings we take than our closest competitor and 61% more than our weakest competitor. These statistics clearly demonstrate something that we have internally known for quite a long time: that the attention we pay to our clients results in consistently achieving their

Kelly Sweeneyhttp://www.blogger.com/profile/17560558803148783333noreply@blogger.com0