Categories
-
Recent Posts
- Warren Buffett: It’s Time To Buy (Then Rent) Single-Family Real Estate
- How To Get Listed on PadMapper.com
- Latest Grand Rapids Property Rehab Project: 831 Watkins St. SE
- In Michigan, 2 out of 5 Home Sales Are Foreclosures or Bank-Owned Properties
- How Low Will They Go? Banks Now Prefer Short Sales to Foreclosures
Recent Comments
Archives
Author Archives: David Clark
In Michigan, 36% Of Properties With Second Mortgages Are Underwater
According to a report released today by real estate data analysis firm CoreLogic, 36% of Michigan homeowners with a second mortgage are underwater. Michigan fares slightly better than the rest of the country, where 38% of second-mortgage borrowers are underwater. Nevada, at 63%, has the highest rate of negative equity. Adding to their troubles, underwater homeowners seeking a short sale—selling a property for less than the value of the outstanding mortgages—have a much harder time doing so when they have a second mortgage, because all the …
Michigan to Shorten Statutory Redemption Period on Residential Property From 6 Months to 3 Months
Michigan legislators have introduced a bill that would shorten the redemption period after a foreclosure sale from 6 months to 3 months. Statutory redemption, in general, is the right of a defaulting mortgagor to regain ownership of property after a foreclosure sale by paying what the property fetched at the sale, with interest from the date of the sale at the interest rate provided for by the mortgage agreement, plus costs. In Michigan, as it is currently written, homeowners in …
HomeAway.com, VRBO.com, and VacationRentals.com Inquiry-to-Booking Ratios and Costs-Per-Booking
In March 2010 we listed our Grand Haven Cottage on HomeAway.com, VRBO.com, and VacationRentals.com. The results have been great: the Cottage was fully booked for most of 2010 and spring and summer 2011 are already nearly full. However, as it becomes time to renew, I questioned whether all three listings were necessary to maintain our current occupancy level. So I sourced all bookings back to their original source. Here are the results: Leads Bookings Ratio Cost-Per-Booking HomeAway.com 40 5 8 …
