Newspaper clippings

The Wall Street Journal posted an article on Tuesday "Tips for Selling Your Home to a First-Time Buyer" - listing these 5 things a seller needs to do to stand out:

1. Maintain and stage.
2. Mention that you'll help pay closing costs.
3. Offer a home warranty.
4. Offer a buyer mortgage protection.
5. Don't snub low offers.

To read the article, follow this link: http://is.gd/14qy8.

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Mary Jo shared an article out of the Ann Arbor Business Review regarding the new Home Valuation Code of Conduct that went into effect May 1 for appraisers. The article notes some of the unintended consequences of this reg, including appraisals that sometimes come in significantly below negotiated prices. Some highlights:

1. Assigned appraisers aren't familiar with community.
2. Time constraints on appraisals.
3. Cost pressures leading to less experienced appraisers doing valuations.

Link to this article: http://is.gd/14qM1.

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Scott shared this CNNMoney.com article on how plant closings are impacting housing markets in the Midwest, specifically Detroit. To link to the article, click on http://is.gd/14rjI.

"Detroit has been one of the nation's foreclosure hot spots for years. In
April, there were 6,259 foreclosure filings in the metro area, one for every 303
housing units, according to RealtyTrac, the online marketer of foreclosure
properties. That was down 26%, however, from last April."