Search results matching tags 'Seller Information' and 'Buyer Information'

Real Estate Agent Review, Southwest Michigan, Paul Dumke

336112 — Mon, 01 Apr 2013 21:07:00 GMT

Paul Dumke helped me buy my first home 6 years ago. He was amazing to work with - answering all of our first time buyer questions and guiding us through the process. When it came time to sell my mother's home last year, Paul went well beyond our expectations. He was very professional and responsive, and he was sensitive to the unique needs of our family. I recommend Paul's services very highly and would not hesitate to call him again in the future.

Customer Realtor Review, Paul Dumke

336112 — Mon, 18 Mar 2013 14:05:00 GMT

My name is Linda and I would like to take this opportunity to thank Paul Dumke for selling my home in St. Joseph, Michigan. I moved out of state which added to my stress level trying to handle two homes from long distance. Paul is not only very professional but trustworthy as well. He did an amazing job at keeping me posted and offered suggestions that proved to be worthwhile. I am impressed with his ability to manage all aspects of selling a home and am completely satisfied with the end result. He understands the market well and adds value to any real estate transaction. You won't go wrong if you sign with Paul!!

Southwest Michigan, St. Joseph, MI Real Estate Agent/Broker

336112 — Tue, 05 Feb 2013 17:37:00 GMT

Paul Dumke REALTOR

GRI, Accredited Buyer Representitive, E-Pro, 2011 Realtor of the Year S.W.M.A.R.

Paul specializes in Commercial, Farm, Unique properties, Businesses, and Custom Marketing of Residential Real Estate.

He is a lifelong resident of the area and enjoys helping his clients protect their best interests when buying or selling now and for the future.

Paul was President of Southwest MI Association of Realtors in 2012, and received the top tier sales awards for 2011 & 2012 from the Association, in what was to be considered some of the worst down time in Real Estate. Besides Realtor of the Year, he has also received multiple educational awards, the Presidents Cup, Life Production Award, Real Estate Technology Certification, Accredited Buyers Representative Designation, and other accreditations and designations. Paul holds a Broker/Associate Broker License with Core Real Estate.

Paul enjoys antique cars, tractors, automobilia, and spending time with his daughter and her horses.

Real Estate marketing and transacting have changed greatly from what it was many years ago.

Paul is up to date, knowledgeable, and ready to help you.

269-921-1125 cell

PDumke007@Gmail.com

Your local Real Estate resource www.BerrienCountyProperties.com

Text 269HOME to 87778 for a free GPS enabled Mobile App for Real Estate.

Great Home information

336112 — Tue, 05 Jul 2011 18:37:00 GMT

Southwest MI Association of Realtors 2011 REALTOR of the Year. Paul Dumke

336112 — Fri, 04 Mar 2011 20:21:00 GMT

REALTOR^® of the Year is the highest honor that this Board can bestow upon one of its members.

The Award is presented annually to a REALTOR^® nominated by their peers, then selected by the REALTOR^® of the Year Committee, which is an impartial panel made up of past REALTORS^® of the Year. The Committee reviews all nominations, taking into consideration the member’s involvement in civic affairs and participation in local, state and national committees. They also consider the member’s REALTOR^® spirit and business accomplishments.

Congratulations to Paul Dumke of Core Real Estate for obtaining this honor.

Paul Dumke 269-921-1125

PDumke007@gmail.com

www.CallmyAgentPaul.com

www.BerrienCountyProperties.com

September SWMI Home Sales Drop - Prices Up

336112 — Wed, 27 Oct 2010 01:21:00 GMT

ST. JOSEPH, MI – “After the surge of homes sold during the first quarter, thanks to the Stimulus Tax Credit, we have seen a steady drop in the number of houses sold each month, compared to the same month in 2009, to the point that our year-to-date number has dipped 3 percent below where we were at in September 2009. The good news for sellers is that we have continued to see the average and median selling prices steadily increase each month. At the end of the third quarter, average and median selling prices were up 9 percent over selling prices at this time in 2009. The higher selling prices have kept the year-to-date total dollar volume up 6 percent over last year,” stated Gary Walter, EVP, of the Southwestern Michigan Association of REALTORS^®, Inc.

“The number of houses sold fell 17 percent from the number of houses sold in August 2010 and 23 percent from the number sold in September 2009. This is the second time this year that we have had such a huge swing in unit sales when comparing to last year. In July we had a 29 percent dip in sales. While we sold fewer houses, the selling prices on a monthly basis climbed back up to where we were in peak sales years such as 2006 and 2007. In fact, comparing to September 2009, the average selling price this year in September was up 4 percent ($180,957 vs. $174,728) and the median skyrocketed by comparison up to 20 percent ($125,750 vs. $104,928),” Walter continued. The median price is the price at which 50% of the homes sold were above that price and 50% were below.

Nationally, existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of Realtors^®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, jumped 10.0 percent to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August, but remain 19.1 percent below the 5.60 million-unit pace in September 2009 when first-time buyers were ramping up in advance of the initial deadline for the tax credit last November.

Lawrence Yun, NAR chief economist, said the housing market is in the early stages of recovery. “A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium. But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions,” he said.

The national median existing-home price for all housing types was $171,700 in September, which is 2.4 percent below a year ago. Distressed homes accounted for 35 percent of sales in September compared with 34 percent in August; they were 29 percent in September 2009.

Regionally, existing-home sales in the Midwest jumped 14.5 percent in September to a level of 950,000 but are 26.4 percent below a year ago. The median price in the Midwest was $139,700, down 5.2 percent from September 2009.

NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said opportunities abound in the current market. “A decade ago, mortgage rates were almost double what they are today, and they’re about one-and-a-half percentage points lower than the peak of the housing boom in 2005,” she said. “In addition, home prices are running about 22 percent less than five years ago when they were bid up by the biggest housing rush on record.”

To illustrate the jump in housing affordability, the median monthly mortgage payment for a recently purchased home is several hundred dollars less than it was five years ago. “In fact, the median monthly mortgage payment in many areas is less than people are paying for rent,” Golder said.

Housing affordability conditions today are 60 percentage points higher than during the housing boom, so it has become a very strong buyers’ market, especially for families with long-term plans. “The savings today’s buyers are receiving are not a one-time benefit. Buyers with fixed-rate mortgages will save money every year they are living in their home – this is truly an example of how homeownership builds wealth over the long term,” Golder added.

A parallel NAR practitioner survey shows first-time buyers purchased 32 percent of homes in September, almost unchanged from 31 percent in August. Investors were at an 18 percent market share in September, down from 21 percent in August; the balance of purchases were by repeat buyers. All-cash sales were at 29 percent in September compared with 28 percent in August.

In SWMI, Walter stated that in September, two-thirds of the homes sold and closed where through normal transactions. “Transactions involving foreclosed or bank owned properties were at 31 percent. This is roughly where we were last month. Our lowest level in bank-owned or foreclosed homes as a part of all closed transactions was 24 percent in July. The lowest point in 2009 was 34 percent,” he said.

“Starting the first of October, we had 3,574 houses listed for sale, which is a 5 percent drop from the number of houses listed for sale in September. With this inventory level, based on the last 12- month’s sales, we have a 17.3-month supply of homes for sale, which is down significantly from last year when we had a 19.0-month supply. The increased sales caused by the tax credit during February through April helped to reduce the inventory this year,” Walter reported.

Nationally, the total housing inventory at the end of September fell 1.9 percent to 4.04 million existing homes available for sale, which represents a 10.7-month supply at the current sales pace, down from a 12.0-month supply in August. Raw unsold inventory is 11.7 percent below the record of 4.58 million in July 2008.

“The mortgage interest rate continues to slip to historically low numbers each month. Housing is very affordable for buyers and buyers continue to have a large selection of houses from which to chose their dream home. Sellers are finding increasing and more stable prices,” stated Walter. Interest rates in SWMI decreased from 4.49 percent in August to 4.47 percent in September. Interest rates in September, 2009 were 5.3 percent.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.35 percent in September from 4.43 percent in August; the rate was 5.06 percent in September 2009.

The numbers reported for local sales include residential property in Berrien, and the western half of Van Buren and Cass counties. All three counties are included in numbers and percentages and do not reflect differences in any individual areas.

The Southwestern Michigan Association of REALTORS^®, Inc. is a professional trade association for real estate licensees and ancillary service providers for the real estate industry in Van Buren, Berrien and Cass counties. The Association is located at 3123 Lake Shore Drive St. Joseph, MI 49085, (269) 983.6375. They can also be contacted through their web site, www.swmar.com.

The National Association of Realtors^®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.

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10/25/2010

Harvest in Southwest Michigan

336112 — Thu, 16 Sep 2010 01:52:00 GMT

Wow, Summer blew by fast!

The Grape harvest has begun as well as field corn and soy beans in my little part of the county. In this area, many of the life long residents tend to take for granted our wonderful beaches, inland lakes, and most of all the appreciation for the beauty of the seasons. Slow tractors and trucks may be anoying, yet we addore the smell of the grapes on our drives along the back roads. A large part of our juice grape harvest goes to Welsh for National distribution in many products. Lets save the impact of our harvest of wine grapes and Wineries for another day.

One of the many attractions in our area is fresh fruit and vegetables on many roadside stands. As a life long resident, again, I have to wake up and remember what a great place I have to live, and share it with my Real Estate Clients coming to Berrien County or Harbor Country Michigan.

I invite anyone thinking of buying a second home here to come visit, and chat with me, so I can share what I know about the great surroundings I grew up in and continue to re appriciate every day.

Contact me at Paul@PaulDumke.com or visit

www.BerrienCountyProperties.com

www.CallMyAgentPaul.com

First Time Home Buyer Tax Credit extended & expanded

336112 — Fri, 06 Nov 2009 21:17:00 GMT

Good news as of this afternoon 11/06/09.

The President signed the bill to extend and expand the buyer credit. Now even current home owners can benefit from it.

Here are the details.

TAX CREDIT OVERVIEW

Who Gets What?

First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

What are the New Deadlines?

In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

What are the Income Caps?

The amount of income someone can earn and qualify for the full amount of the credit has been increased.

Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible

Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

What is the Maximum Purchase Price?

Qualifying buyers may purchase a property with a maximum sale price of $800,000.

What is a Tax Credit?

A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual’s primary residence.

How Much are First-Time Homebuyers (FTHB) Eligible to Receive?

An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.

Who is Eligible fort FTHB Tax Credit?

Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible.

This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.

As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.

How Much are Current Home Owners Eligible to Receive?

The tax credit program includes a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Can Homebuyers Claim the Tax Credit in Advance of Purchasing a Property?

No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.

Can a Taxpayer Claim a Credit if the Property is Purchased from a Seller with Seller Financing and the Seller Retains Title to the Property?

Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Some examples of this would include a land contract or a contract for deed.

According to the IRS, factors that would demonstrate the ownership of the property would include:

1. Right of possession,
2. Right to obtain legal title upon full payment of the purchase price,
3. Right to construct improvements,
4. Obligation to pay property taxes,
5. Risk of loss,
6. Responsibility to insure the property, and
7. Duty to maintain the property.

Are There Other Restrictions to Taking the FTHB Credit?

Yes. According to the IRS, if any of the following describe a homebuyer’s situation, a credit would not be due:

They buy the home from a close relative. This includes a spouse, parent, grandparent, child or grandchild. (Please see the question below for details regarding purchases from “step-relatives.”)
They do not use the home as your principal residence.
They sell their home before the end of the year.
They are a nonresident alien.
They are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
Their home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
They owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2008, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2005, through July 1, 2008.

Can Homebuyers Purchase a Home from a Step-Relative and Still be Eligible for the Credit?

Yes. As long as the person they buy the home from is not a direct blood relative, the purchase would be allowed.

If a Parent (Who Will Not Live In The Property) Cosigns for a Mortgage, Will Their Child Still be Eligible for the Credit?

Yes, provided that the child meets the other requirements for the tax credit.

Please contact me if you have questions or are ready to buy or sell.

Paul Dumke

Real Estate Consultant

Core Real Estate

269-921-1125

SWMIRealtor@gmail.com

Homes For Sale

336112 — Sat, 12 Apr 2008 19:47:00 GMT

Spring is here in Southwest Michigan!

There are great buys in Berrien County right now.

With all the foreclosures on the market, the listing prices of privately owned homes are being driven down.

There are also homes on the market facing foreclosure that the banks are willing to accept less that what`s owed (called a Short Sale) to avoid taking over the property.

Now is the time to take advantage as a buyer!

I am an Accredited Buyers Representitive and trained to negotiate Short Sales.

Paul Dumke