Real Estate, etc... by Eric Michael: August 2011

Overrated and Underrated. August 25, 2011

Overrated and Underrated. August 25, 2011

Hi Everybody!

Hope you're having a great day!

Here's another edition of Overrated and Underrated. I think I missed writing one for last week. Sorry.

Overrated - First Time Buyers wanting to purchase a Foreclosure or Bank Owned home. Don't get me wrong. You can get a pretty good deal a lot of the time on a foreclosure. The problem is with first time buyers. Foreclosures usually come pretty beat up or down right destroyed. A lot of buyers say "That's okay. I'm pretty handy. We can fix it up as we go along. Besides, my dad/uncle/friend is/used to be a carpenter." Well, unless you're paying cash for the bank owned home, most likely it's not going to pass inspection, therefore the bank won't loan you the money. Unless it's a rehab loan or 203k loan. Don't know what that is? Give me a call, I'll explain it to you.

Underrated - Fortune cookies. Getting Chinese carry out usually consists of too much food to eat in one sitting. (I said usually.) I typically keep the fortune cookies around for a while and snack on them when I get a sweet tooth. Not only are they tasty, but you also learn what's going to happen in your future, you get the lucky lottery numbers AND you get to learn a word or phrase in Chinese. I love them!

Please leave a comment, or add your own Overrated and/or Underrated below.

Looking forward to reading your comments!

Talk to you soon,

Eric...

For the record, anything you mention might or might not be used in a future blog.

Eric Michael, Real Estate Professional
Remerica Integrity, Realtors
41000 W. 7 Mile #105
Northville, MI 48167

Cell: 734.564.1519

Fax: 248.912.9996

www.ShortSaleInfoMI.com

www.EricMichaelOnline.com

Comment balloon 34 commentsEric Michael • August 25 2011 05:35PM
Overrated and Underrated. August 25, 2011
share
Overrated and Underrated. August 25, 2011 Hi Everybody! Hope you're having a great day! Here's another edition of Overrated and Underrated I think I missed writing one for last week. Sorry. Overrated - First Time Buyers wanting to purchase a… more
Overrated and Underrated. August 13, 2011
share
Overrated and Underrated. August 13, 2011 Hi again, Everybody! Here's another edition of Overrated and Underrated I think I'm going to start making sure I get one of these incredibly insightful blogs written and posted once a week, with special… more
Mommy, I'm Hot. Then Go Stand Behind The Fridge…
share
Okay, so you're in the market to purchase a house. You've already talked to a lender and have your pree-approval letter in hand. Next step, you and I are out looking at some homes. A lot are foreclosures and in need of some repain, most won't… more