In local Real Estate News...

New Detroit Red Wings arena part of mall complex?

With a ton of real-estate activity at the rumored site of a new Detroit Red Wings (NHL) arena, the talk is a new facility could be part of a larger mall complex. The area between Woodward Avenue and Cass near Temple, a blighted area, has emerged as a hot real-estate market in recent months, with several properties changing hands or in the midst of negotiations for a sale. Red Wings coach Mike Babcock may have let the cat out of the bag during a radio interview with the local 97.1 The Ticket station:

“If you want the city to come back, you got to revitalize downtown. A big part of that’s going to be the new arena, and the mall and the stuff going around it,” he said. “And that’s very important. That’s why we need the state to jump onside, and the sooner the better, if we’re going to revitalize Michigan. It’s got to start right here in Detroit.”

With developer Al Taubman rumored to be looking at a downtown shopping center, the outlines of the plan become clearer: a new arena as part of a much larger development. And this is the same site where a stop was added to light-rail plans several months ago, despite the lack of any current need for a stop.

I think that would be a great move! Detroit's downtown would get a boost with the best team in hockey for the last 20 years having a shiny new arena in the middle of downtown.

The question on everyone's mind...what is a SHORT SALE?

A SHORT SALE is a property that sells for less than the balance owing on its mortgage. If there is a mortgage balance that is greater than the market value of the home, that property is a short sale.

A Short Sale is a Privilege, Not a Right. Not every property qualifies as a potential short sale in a bank's eyes. A bank must agree to grant a short sale. Banks are under no obligation to approve a short sale. Banks will grant a short sale if the bank feels it is in the bank's best interest to approve the short sale. It is in the bank's best interest to approve the short sale if the bank will make more money through the short sale than to foreclose.

There are 4 essential ingredients to a short sale:

An underwater home (mortgage balance is greater than the market value of the home)
A willing short sale bank
A seller with a hardship
A buyer willing to purchase the home


As YOUR Real Estate Agent I will:

• Gather the required paperwork and submit the short sale package to the bank.



• Help you, as the seller to price the short sale home. The price needs to be attractive enough to entice a buyer to wait for short sale approval but high enough to satisfy the bank's BPO.



• Put the home on the market. I will submit all offers to you, as the seller to first be accepted.



• Negotiate the short sale with the bank on your behalf.

Keep in mind this process may take anywhere from 3 to 6 months, but it can be beneficial for all parties involved.


If you think your home may qualify for a short sale, let's talk more indepth about the process!


I am here for all your home buying & selling needs


Best~


Kandiss Ecton


Dwellings Unlimited


248-875-5868

Celebrity Pads featuring Alicia Keys

Alicia Keys has put her New York home on the market for $17.9 million. And yes, it’s just what you would expect a multimillion dollar New York City home to be. With 4.5 bedrooms and 4 full and 4 half bathrooms, the mansion is sized at 6,167 square feet.

The penthouse property also comes with a separate private wine cellar and storage rooms, probably located somewhere inside the building. The home has floor-to-ceiling windows, a floating, see-through glass staircase, and a massive outdoor rooftop area with sprawling views of New York City.

Alicia bought the home with her producer/rapper husband Swizz Beatz, paying $12,750,00 for it from Lenny Kravitz. Kravitz had a hard time selling it, changing the asking price a few times. The price went as high as 19.5 million and as low as 12.5 mil. The home also features a “state of the art gourmet eat in kitchen” in addition to a formal dining room. Oh, and of course there’s a home theater. The living room also includes a cozy fireplace.

Why do I need an AGENT??? Can't I just find a home by myself or sell it by owner?

I love working with both sellers and buyers. There are challenges to both and they are very different experiences. When buyers are serious and know what they are looking for, I can find it! I guide buyers through the process from start to finish. From getting pre-approved for a mortgage to finding their home, to the contract, inspection and then the closing… I love the look on a buyers face when I take them to “exactly what they want”. There is nothing I can say or do to have a buyer like something if they don’t. So, you won’t get that pushy, aggressive style with me. I have worked with buyers as little as a few weeks up to a year to find them what they are looking for.

It is important that the buyer I work with is loyal to me as you only need 1 real estate agent. Companies share listings and I can show you any other companies listings. This is important to know as some buyers question what it means to be the exclusive agent. The exclusive agent works for the seller and the buyers agent works for the buyer.

The goal when selling someone’s home is to get them the most $. This is exciting to me and I love to negotiate. It is important to find an agent who represents you and your home well. I work all over the City in any neighborhood and sell everything from studios, to lofts to luxury homes. When you work with a top agent and top firm, your home gets incredible exposure through a variety of advertising venues. My goal is to get you the highest price – no matter how long it takes!
When you are ready to proceed, having an agent with experience navigating through this market, is extremely important, and can save you time, avoid costly mistakes, make the process painless and enjoyable!!