February | 2011 | Southwest Michigan Realtor Blog

February 28, 2011
by Michael Delaware 2 Comments

K-Wings Hockey Games are a Great Asset to Southwest Michigan and a lot of fun too!

One of the great local sports clubs in Southwest Michigan is the Kalamazoo Wings hockey team. They are members of the East Coast Hockey League (ECHL) which was founded in 1988. The league originally started with just five teams, and has grown to nineteen teams each with a 72 game schedule.

K-Wings Hockey Games are a great local winter attraction for Southwest Michigan.

The league now spans the U.S. with teams on the West coast as well. Attending a K-Wings game is quite easy, and one can choose to pay for V.I.P. Parking which is $10 or park in the free lot across the street. The walk was not too much, so I chose the free lot. The tickets range anywhere from $10 to $16 depending on seating, and whether or not you pay in advance. Season tickets are also available.

For more information on the K-Wings hockey tickets, check out their website at: www.wingsstadium.com. The venue of Wings Stadium is a typical hockey arena with a hallway the surrounds to rink, which includes food, drinks, souvenirs and vending machines.

Attending a K-Wings game is exciting, and being that the team is pretty good, they have

K-Wings hockey games are an action packed event.

quite a solid fan base. Attendance at the game I recently attended left the arena mostly full.

If you are looking for a local sports diversion during winter, you should consider putting a K-Wings game on your calendar. It is a lot of fun, and a great event for the kids as well. The intermission activities frequently involve children in the games and contests on the ice, but parents or guardians need to sign a waiver allowing participation.

The local mascot for the K-Wings is called ‘Slappy’ and he keeps the fans involved in the game with his antics. The K-Wings play a lot home games every season, and it is usually quite easy to get tickets. It is even possible to purchase your tickets right at the stadium. The games are a lot of fun!

February 18, 2011
by Michael Delaware

Raising the Stakes to Reduce Whose Risk?

Some creditworthy borrowers may not be able to obtain mortgages, if Wells Fargo & Co. gets its way. The nation’s largest mortgage lender is asking U.S. regulators to set a down payment standard of 30 percent for loans that would be exempt from a risk-retention requirement. Banks would have to retain 5 percent of any loans with down payments of less than 30 percent if those loans are securitized.

Raising the down payment requirements will limit the number of those that can purchase a home.

To put this in perspective, a 20 percent down payment on a $300,000 home is $60,000. At a level of 30 percent, a borrower would need to produce $90,000. Banks could still make loans to borrowers with less than 30 percent down, but borrowers with lower down payments would ultimately receive higher interest rates for loans that would be perceived as more risky.

This kind of strategy, although might be a lesser risk for larger mortgage companies like Wells Fargo & Co, Bank of America and Chase Bank, but if enforced as a blanket policy, it would drive first time home buyers out of the market place in many areas of the country.

Currently according to research by the National Association of Realtors, first time home

The American Dream could be pushed further out of reach if too steep a change to down payment requirements were introduced.

buyers reflected nearly 1/3rd of the market last year in real estate purchases. 53% were motivated to just own a home of their own. Another 33% bought a home just because they knew the timing of the current market place would offer affordability.

At present there exist many government loan programs such as FHA, VA and USDA Rural Development that offer low up front expenses and low interest rates. VA and USDA Rural Development do not require a down payment, and FHA requires just 3 1/2% down. Many first time home buyers are taking advantage of these programs, despite the requirements for higher credit scores than 5 years ago.

The pendulum swinging in the direction of what Wells Fargo proposes would deny many new prospective home buyers their chance at the American Dream, and would be too extreme a solution.

February 17, 2011
by Michael Delaware

Good Loan Programs for Buying a Home in Southwest Michigan

When it comes time to buy a home, a qualified buyer will have a lot of options in loan programs in Southwest Michigan. A lot more than they may be led to believe if they listen to the media. Currently there are some very good loan programs that first time home buyers should consider.

Working with an experienced Realtor can help you take your first step on the road to homeownership.

The first being the USDA Rural Development loan program. It is a program that offers financing up to 100% of the purchase price, and it even allows for certain repairs to be covered in the loan, as well as permitting the seller to pay a portion or all of the closing costs depending on purchase price. Rural Development loans have requirements that the home be located in a rural area as defined by maps on their website.

The next program that offers 100% financing is the VA Guarantee loan for veterans. This can be for veterans currently in the service, and those that have retired or are coming out of the service. The obvious requirement is that you are a veteran of the military service.

Another great first time home buyer loan program is the FHA (stand for Federal Housing

Buyers still have lots of options for financing.

Authority) loan, which allows buyers to purchase a home with just a 3 ½ % down payment. This loan also allows the seller pay a portion of the closing costs, which can be a great advantage for a first time home buyer.

Some of the other loan programs I will often send a new home buyer in search of are those offered by their own credit union or bank. Sometimes the terms and face to face relationship one can get at a credit union or smaller bank can offer the buyer great options.

For more information watch this video presentation I have included in this article, or contact me through my website at: www.michaeldelaware.com. You can also call me direct at: 269-441-8182.

February 6, 2011
by Michael Delaware

Super Bowl Sunday is a Rich Tradition

Today is Super Bowl Sunday and all across the nation people are planning where they will watch the game. Many who are not fans of the game will even watch. The event is more of a spectacle than an average sporting event. Across Southwest Michigan, where we are midway between Green Bay and Pittsburgh, we have a mix of both Steelers fans and Packers fans.

Today’s big game is perhaps even more interesting this year because both teams have

Today is football's biggest spectacle.

such a rich tradition in the sport. The Green Bay Packers have the reputation of having won the first two Super Bowls, and the trophy itself is named after their first coach, Vince Lombardi. The Pittsburgh Steelers have the reputation of having won the most Super Bowls of any NFL team with a 6-1 record in the big game.

It also seems fitting that this week preceding the big event saw the nation rocked with a huge winter snowstorm which even covered Dallas, where the event is to be held this year, in ice. It is as if Mother Nature was reminding us all that this is a winter sport, and this year it is being played between two Northern cities with outdoor playing fields. So even though the game will be played indoors in Dallas, the winter weather here in Michigan and all across the country makes it seem like the fitting tribute to the sport.

Regardless of who you cheer for, whether it be the Steelers with their ‘Terrible Towels’ or the Packers with their foam rubber ‘cheese heads’; today’s game is going to be an exciting one. Football is a rich tradition across our nation, and today is the symbol of the sport’s greatest day.

I hope everyone will have a wonderful time today and enjoy the game that brings us all together, and especially as we all laugh at the menagerie of commercials that will hit the airwaves, most never before seen, which will add to the entertainment. As a final tribute to the big game, here is my favorite video about this magnificent sport:

February 2, 2011
by Michael Delaware

Southwest Michigan Snowstorm

Last evening a large snow storm came through Southwest Michigan and across the state dumping anywhere from 10 to 18 inches of snow, per local reports. The snowfall caused delays at both the Chicago and Detroit airports, and sent the entire region into holiday mode.

Breaking out shovels will follow, but this morning when I got up it was still snowing intensely, so I took out my camera and made some video shots of the views from my front and back doors. It is kind of hard to tell how deep it is in this video, but rest assured, you become well aware of it when you venture out to shovel it! I hope you enjoy this simple video on Michigan winters…

February 1, 2011
by Michael Delaware

The Unplowed & The Unshoveled

The unplowed and the un-shoveled driveways and sidewalks of a Michigan winter can create a challenge when showing houses. Fortunately this year the snow has not been extremely deep, but there are some winters I remember that tested ones stamina.

Snow is a fact of life in Michigan during winter.

Tromping across a lawn in the general direction of the front porch of a house that has not seen a shovel or a rock of salt all winter in the middle of January or February can wear on you for sure. I tend to wear snow boots and warm socks as a priority on such days when I am going to be out showing houses. It is inevitable in this current market that one or more of the homes we look at is going to be vacant and untended.

I call it the challenge of the unplowed and the un-shoveled. The fact is that many foreclosed homes do not always have a company keeping the property plowed, and walkways shoveled. Some do, but a lot do not. The same would go for most any vacant home, especially when there is no one looking after the place.

It is a good idea in the months of heavy snow, from December to March and sometimes

Snow is sometimes a cause for delay in showing houses, but it is only a temporary barrier.

April to plan on wearing snow boots, or some other kind of warm footwear when going to look at properties. Keeping ones feet warm is often 90% of the trick to staying warm overall I have found.

I also recommend to clients that they place their pant leg inside their boot, as it reduces damp clothing when jumping back in the car and moving from house to house. It will also keep you from staining your clothes with the salt that is mixed in with the snow at the curb.

Another point of advice I have learned it that even if a walkway is shoveled, be cautious of black ice.

On mornings where temperatures fall and create ice, this is especially important. In those instances, it is better to avoid the sidewalks, and walk through the snow.