First-Time Home Buyer 101: Five Ways to Jumpstart your Home Search in 2015

Daisy Square Lofts
Daisy Square Lofts
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Patrick and Carrie’s First Home in Plymouth

Buying a home is anything but a passive process.  You must align yourself with a reliable team and take an active role in the process with plenty of communication with both your household members and your real estate team.

Here are five things to think about to get started:

  1.  Find a Local REALTOR in the area of your desired home. A local real estate professional will have knowledge of the schools and neighborhoods in the community in which you’re searching. They can help you determine which neighborhood or street is the best fit for you based on your wants and needs. When your Realtor lives and works in the community, they know it best and can pass on their first-hand knowledge to you.
  1.  Talk to 2-3 lenders (local ones, ideally) and pick one to obtain a Pre Approval. Interviewing multiple lenders is an important step. You want to find someone with whom you’re comfortable discussing your finances and personal information because you will be entrusting them to finance the biggest purchase of your life – so far. It’s also very important to find a lender who will be available to you when you need them, during business hours and beyond. Pre-approvals help gauge how much you can comfortably spend on your home. Local lenders are hopefully easier to meet in person and will understand the area in which you’re buying.
  1.  Spend time in the towns and neighborhoods you’re considering. Going to open houses is a great way to familiarize yourself with the local neighborhoods and home styles. Visiting open houses does not require a pre-approval letter, but it’s recommended to look within your price range. Filling your weekends with open house tours will increase your knowledge of the local market and help you determine what you can get for your money. It’s also important to visit the towns/cities you want to live in and experience the festivals, events, restaurants and shops. You can learn more about the area, meet the locals, and find out what you can buy for your money
  1.  Work your travel plans around house hunting so that you are available when the right house comes up on the market. Good houses go fast, especially in more affordable price ranges. You want to be able to be the first in the door when a good house gets listed, especially during the spring and summer months when there are more buyers searching for homes. The early bird gets the worm!
  1.  Make sure you have prioritized your needs and are realistic based on your price range and the level of competition in the market. You could miss out on the right home if you narrow your search too much. Keep an open mind and trust your REALTOR’s suggestions. Make sure your Realtor knows your deal-breakers, but keep them realistic. Competition has become common lately for good homes, so working with a local expert who is skilled at negotiating and writing offers will put you ahead of the pack.

There are many more items to think about but if you have a good REALTOR they will help you navigate the process and keep you on track to get your ideal next home!

City of Northville Real Estate Values Increasing Year over Year

The City of Northville Real Estate market showed relative strength in 2010 vs. 2009 as the economy began to recover in western Wayne County. The resurgence of Automotive and the overall stabilization of the region, combined with the Federal Tax Credit in 2010, all contributed to stronger consumer confidence and better values.

For 2010 vs. 2009, we’ve seen approx. 9 % fewer homes sold (31 vs. 34) but the average selling price increased from $232,313 in 2009 to $277,532 in 2010. Given the relatively small number of sales in the City and the effect of a few high value sales in 2010, the data can be a little misleading. Nevertheless, the trend does show an increase in both average and median sales prices year over year.  During the early part of 2010, the Tax Credit seemed to drive an increase in buying activity although some of this can be explained as ‘pull ahead’ sales.  The City of Northville Real Estate market has always remained attractive due to the historic homes, downtown shopping and restaurants, school system, parks, and much, much more.

To see more homes available for sale in Northville, please visit www.bobbake.com or simply contact Carrie, Northville REALTOR, at 734-788-2398 –  carrie@bobbake.com or Patrick, Northville REALTOR,at  734-272-8375 – patrick@bobbake.com.  If you have a home to sell in the Northville area and would like a private consultation, please feel free to contact us to discuss your needs in confidence. We are specialists in the Northville area with the experience and knowledge to assist you throughout your home buying and selling process.

Holiday Decorations Around Town

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It’s the season…  so I thought I’d share some December blizzard pics from around town.  Although there are fewer Real Estate transactions during the winter months, there is still a very active market. And often those buyers in the market are looking for a reason – they usually want or need to move and move quickly due to relocation or other reasons. If you are searching for your next home in Northville or Plymouth, please feel free to give us a call at 734-788-2398 (Carrie) or 734-272-8375 (Pat). Also, please check our company website at www.bobbake.com for more listings and information about Northville and Plymouth.  Thanks!

Where It All Began – Robert Bake Realtors

robertbakeRobert Bake Realtors of Plymouth on the corner of Ann Arbor Trail and S. Harvey was where it all began.  Bob (Robert) Bake started his business on this site in 1967 and later merged with Coldwell Banker Schweitzer-Bake on Main St.

Today, both Bob and his daughter Carrie are experts and specialists in the Plymouth and Northville communities. You can learn more about them at www.bobbbake.com. The building is no longer there unfortunately but their legacy and ongoing service to home buyers and sellers continues.