Wednesday, August 26, 2015

New Dolphin Ndamukong Suh Buys Fort Lauderdale Mansion for $6.5M

Ndamukong Suh



Fearsome defensive tackle Ndamukong Suh has discovered his Miami digs. He’s settling down in a $6.5 million mansion in Fort Lauderdale, FL, that features six bedrooms and a whopping 11,142 square feet of space, according to the Miami Herald.
After five seasons with the Detroit Lions—where the star’s aggressive on-field conduct cost him more than $250,000 in fines—he signed a $114 million contract with the Miami Dolphins, becoming the NFL’s highest-paid defensive player ever.







His big payday is evident in this purchase. There’s nothing subtle about his new home, where a palm tree–lined walkway leads to the towering front doors, topped by a balcony flanked by stone columns.





The white-walled living spaces combine the comforts of home with the luxury of a five-star hotel. Glass banisters surround the upstairs catwalks that overlook seating areas below. Enormous two-story windows showcase Suh’s pool and the waterfront beyond—100 feet of which is his alone.












That is, if he ever decides to venture beyond the confines of this magnificent mansion. With the game room, an 11-seat theater room, and an enormous wine cellar, the home offers enough amenities to keep a superstar occupied for days.













N.Y. producers up for $211,000 from Film Office for HGTV series on Detroit mansion




The Michigan Film Office announced today that New York-based Chasing Light Entertainment, the production company responsible for the renovation of the Ransom Gills Detroit mansion through an eight-part HGTV series, is eligible for more than $200,000 in incentives.


The production company estimates it will spend $844,125 in Detroit while hiring 22 workers, 12 being Michigan residents. Those jobs equate to two full-time positions, according to a news release from the Michigan Economic Development Corp.




The company is eligible for $211,031 in incentives, which it will receive only after the work is complete and shows proof of spending and hiring in Michigan.


“There’s a process to demonstrate they are spending the money,” said Frank Provenzano, public relations manager for the Michigan Film Office. “It’s very much in stages. Once they spend a certain level, they get part of the incentive, and simultaneously they have to demonstrate they are hiring.”
The benchmarks to receive incentives vary entirely by project, Provenzano said.




Nicole Curtis, a metro Detroit native and host of the network's "Rehab Addict," is leading the restoration at 205 Alfred St. The series will premiere on HGTV in November.
Quicken Loans Inc. is collaborating with HGTV on the series, which will end with an open house for potential homebuyers, Crain’s reported in July.


The project is part of a $70 million redevelopment of 8.4 acres of Brush Park that includes 337 residential units, retail space and the restoration of four mansions. 


Tuesday, August 4, 2015

10 STEPS to BUYING a HOME






Buying a house requires time and effort, but these 10 steps can help make the home buying process manageable and help you make the best decisions possible.


Step 1: Start Your Research Early

As soon as you can, start reading Web sites, newspapers, and magazines that have real estate listings. Make a note of particular homes you are interested in and see how long they stay on the market. Also, note any changes in asking prices. This will give you a sense of the housing trends in specific areas.


Step 2: Determine How Much House You Can Afford

Lenders generally recommend that people look for homes that cost no more than three times their annual household income if the home buyers plan to make a 20% down payment and have a moderate amount of other debt.
But you should make this determination based on your own financial situation.


Step 3: Get Prequalified and Preapproved for credit for Your Mortgage

Before you start looking for a home, you will need to know how much you can actually spend. The best way to do that is to get prequalified for a mortgage. To get prequalified, you just need to provide some financial information to your mortgage banker, such as your income and the amount of savings and investments you have. Your lender will review this information and tell you how much you can get approved for. This will tell you the price range of the homes you should be looking at. Later, you can get preapproved for credit, which involves providing your financial documents (W-2 statements, paycheck stubs, bank account statements, etc.) so your lender can verify your financial status and credit.


Step 4: Find a Realtor

Realtors are important partners when you’re buying or selling a home. Realtors can provide you with helpful information on homes and neighborhoods that isn’t easily accessible to the public. Their knowledge of the home buying process, negotiating skills, and familiarity with the area you want to live in can be extremely valuable. Your Realtor is compensated from the commission paid by the seller of the house.

Step 5: Shop for Your Home and Make an Offer

Start touring homes in your price range. It might be helpful to take notes on all the homes you visit. You will see a lot of houses! It can be hard to remember everything about them, so you might want to take pictures or video to help you remember each home.
Make sure to check out the little details of each house. For example:
  • Test the plumbing by running the shower to see how strong the water pressure is and how long it takes to get hot water
  • Try the electrical system by turning switches on and off
  • Open and close the windows and doors to see if they work properly
It’s also important to evaluate the neighborhood and make a note of things such as:
  • Are the other homes on the block well maintained?
  • How much traffic does the street get?
  • Is there enough street parking for your family and visitors?
  • Is it conveniently located near places of interest to you: schools, shopping centers, restaurants, parks, and public transportation?
Work with your Realtor to negotiate a fair offer based on the value of comparable homes in the same neighborhood. Once you and the seller have reached agreement on a price, the house will go pending, which is the time period it takes to complete all of the remaining steps in the home buying process.




Image result for inspecting A HOME



Step 6: Get a Home Inspection

Typically, purchase offers are contingent on a home inspection of the property to check for signs of structural damage or things that may need fixing. Your real estate agent usually will help you arrange to have this inspection conducted within a few days of your offer being accepted by the seller. This contingency protects you by giving you a chance to renegotiate your offer or withdraw it without penalty if the inspection reveals significant material damage.
You will receive a report on the home inspector’s findings. Before the sale closes, you will have a walk-through of the house, which gives you the chance to confirm that any agreed-upon repairs have been made.


Step 7: Work with a Mortgage Banker to Select Your Loan

Lenders have a wide range of competitively priced loan programs and a reputation for exceptional customer service. You will have many questions when you are purchasing a home, and having one of our experienced, responsive mortgage bankers assist you can make the process much easier.
Every home buyer has their own priorities when choosing a mortgage. Some are interested in keeping their monthly payments as low as possible. Others are interested in making sure that their monthly payments never increase. And still others pick a loan based on the knowledge they will be moving again in just a few years.


Step 8: Have the Home Appraised

Lenders will arrange for an appraiser to provide an independent estimate of the value of the house you are buying. The appraiser is a member of a third party company and is not directly associated with the lender. The appraisal will let all the parties involved know that you are paying a fair price for the home.


Step 9: Coordinate the Paperwork

As you can imagine, there is a lot of paperwork involved in buying a house. Your lender will arrange for a title company to handle all of the paperwork and make sure that the seller is the rightful owner
of the house you are buying.


Step 10: Close the Sale

At closing, you will sign all of the paperwork required to complete the purchase, including your loan documents.  Once the check is delivered to the seller, you are ready to move into your new home!