Steve Meyers
Answers To Real Estate Questions.com
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| Steve Meyers Agent/REALTOR®, ABR View Profile |
49433 Hayes Rd., Suite A
Shelby Twp, MI 48315
Phone: 586-997-5480
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Answers To Real Estate Questions.com
"Your Local Real Estate Expert"
Being the Best for my Clients...
Home Buyers and Sellers have their money on the line and I don't take that lightly. I make sure my clients have all the pertinent facts; that they understand the legalese contained in their contracts and disclosures and that they know their options. I won't sugar-coat the truth and always point out both the positive and negative in a potential decision. No one likes surprises in a real estate transaction; so I ensure that my clients know what to expect each step of the way from initial consult to closing.
I personally assist my clients from start to finish, and never hand them off to an assistant. I will be with you every step of the way.
Steve Meyers
| Steve's Real Estate Market Update | |
| Market Update: March’s market update for Macomb County and Oakland County’s housing market (House and Condo Sales) is as follows. In Macomb County Average Sales price was up by more than 2% and Oakland County Average Sales price was up by almost 9%. Macomb County’s on market inventory was down by more than 2% and Oakland County’s on market inventory was up by more than 2%. Macomb County average days on market was 42 days and Oakland County average days on market was 41 days. Closed sales in Macomb County were up by almost 1% and closed sales in Oakland County were up by more than 2%. (All comparisons are month to month, year to year.) By the long-standing historical definition from the National Association of Realtors (NAR) which has been in existence since 1908; a buyer’s market is when there is a 7-month supply or more of inventory on the market. A balanced market between buyers and sellers is when there is a 6-month supply of inventory. A seller’s market is when there is a 5-month or less supply of inventory. Inventory has continued to stay low. In March the State of Michigan inventory was at 2.1 months of supply. Macomb County's inventory was at 1.9 months of supply and Oakland County's inventory was at 1.9 months of supply. By definition it’s still not close to a buyer’s market. Steve Meyers
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Answers To Real Estate Questions
Question: I am selling my condominium. I was informed by the title company that a status letter had to be ordered from the association at a cost of $265.00. What is this and why is it so much? I pay monthly association dues, why don’t they provide this information for free? Am I being ripped off?
Answer: The condo status letter, also known as Certification for Resale Status Letter is a document that provides financial information to the title company regarding a specific unit/property from the association. It typically discloses what the monthly association fee is and when it’s due. If there are any late fees or past due balances. If there are any outstanding special assessments or any other fees due and payable. It may show the amount in reserves for the unit. It is signed by an agent on behalf of the association. Years ago, this used to be handled by an individual on the association board, usually the treasurer and was completed for free. When property management companies got involved with the associations then we started to see a fee charged between $25.00 and $50.00. Then came along a third-party company called CondoCerts that the property management companies hired to do their work. Now the fees for a status letter usually range between $75.00 and $500.00. Some single-family home subdivisions have started using property management companies who also use CondoCerts and are experiencing the same fees when the homeowners sell their homes.
©Steve Meyers
 | Buying a Home? Not every home for sale in the area can be found on the Internet. Let my direct access to all the listings help you locate your dream home in the most efficient way possible. |
 | Selling a Home? There are lot's of do's and don'ts when selling a home. Let me use my years of experience to guide you along a successful path of preparation, promotion and closing the deal. |
 | Relocating to the Area? If you are moving to this area, I can provide you with helpful information so that your move is as worry free as possible. Feel free to contact me for local information like the best schools and communities. |
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