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Thanksgiving in Northville and Novi, Michigan

by The Jamey Kramer Group

Thanksgiving in Northville and Novi, Michigan

Does the stress of the holiday have you considering where you can eat out with your family?

Happy Thanksgiving everyone! Today is one of our favorite holidays here at the Jamey Kramer Group because it is always great to take time to say thank you. However, this day of thankfulness can come with a lot of unthankful stress. If your turkey didn’t turn out and your in-laws are on their way, it may be time to look outside the home for your Thanksgiving dinner.

Northville and Novi, Michigan have a few restaurants that will be open on Thanksgiving Day that have you covered. The restaurants included below will have your Thanksgiving Day feeling thankful again in no time. Please note that reservations are required at each location.

Northville, Michigan Restaurants Open on Thanksgiving Day

Rocky’s of Northville

Whether you are looking for a traditional turkey dinner or you are interested in spicing things up by ordering duck or filet mignon, Rocky’s of Northville has you covered. The restaurant is very well known in the area for their fine dining. Rocky’s has received the #1 Best Restaurant in Northville 4 times by the Northville Record Viewers Poll, and are said to have the best bathrooms in Metro Detroit by the Detroit Free Press.

According to the Detroit Free Press, Rocky’s will be open from 12 pm to 8 pm. A turkey dinner will cost around $18 for adults and $8 for children under 11. Rocky’s is located at 41122 Seven Mile, Northville, Michigan. Please call 248-349-4434 for more information.

Deadwood Bar and Grill

This establishment has become a favorite to many who like to dine out on holidays. The owners of Deadwood Bar and Grill pride themselves in being a local business. Here is what their website has to say,

We're visible and viable in each community that we operate in. We employ over 250 people who are your friends, neighbors or even relatives. We've been in business for 20 years and are proud to make metro Detroit our home.”

Thanksgiving Day’s hours are from 11:00 am to 9:00 pm. Carryout is also available and turkey is on the menu. Deadwood Bar and Grill is located on the east side of Northville Road, between Six Mile Road and Seven Mile at 18730 Northville Road, Northville, Michigan. Please call 248-347-4353 for reservations.

Novi,Michigan Restaurant Open on Thanksgiving Day

Steve & Rocky’s

Gourmet Magazine called Steve & Rocky’s “one of the best restaurants in America” and they have your Thanksgiving dinner waiting. Thanksgiving Day hours are from 12:00 pm to 8:00 pm. The restaurant is located at 43150 Grand River, Novi, Michigan. Please call 248-374-0688 for more information.

All of us at the Jamey Kramer Group wish you a wonderful Thanksgiving filled with wonderful food and the company of family and friends.

What Will Real Estate in 2014 Look Like?

by The Jamey Kramer Group

What Will Real Estate in 2014 Look Like?

Have you been considering buying or selling a home?

On this Tuesday before Thanksgiving, are you thinking to yourself how nice it would be to host the family dinner in a different home? Have you been secretly searching for new houses online? Are you nervous about what the housing market’s future will hold?

Wouldn’t it be nice to be able to look into our futures and know for certain which choices are the right ones? While it might be unrealistic to think we can predict the future, there are trends that we can follow and forecasts we can analyze. Today, we are going to look into what the experts are saying about the housing market in 2014.

2013 Housing Market in Review

Let’s take a quick moment to review what has happened this past year. In 2013, we saw home values start to return all across America. In our little corner of the world of Oakland, Macomb, Livingston and Wayne counties, we saw median home sale prices rise 42% in October as compared to October of 2012 according to Realcomp.

As home values started to climb, the 30-year fixed mortgage rate stayed low. This year has been exciting. More and more buyers have been looking to take advantage of these low interest rates and sellers have been benefiting from it.

November Predictions for 2014

There is still a month left of this year, but there are a few things that we can already be looking forward to for next year. A little more of our faith in the market has returned, and that has many people considering the possibility of moving on from their current home. However, what will the market look like next year? According to MSN Real Estate,

Market observers agree that home prices will rise in 2014, but at a slower, more steady pace compared with historical trends. Clear Capital forecasts that home prices nationally will rise by 3 percent to 5 percent in 2014, about the historical average.”

Like a Great College Sports Team

Just like a great college sports team that signed on an amazing freshmen, 2014 is sounding more and more like it is going to be a great rebuilding year. Next year should be steady, and through that steadiness the housing market will win back many Americans’ confidence in the housing market.

Are you ready to move on? If you are, we would love to be the ones who help you move out of your current situation and into the house that you have been dreaming of.

All of us at the Jamey Kramer Group hope you have a wonderful holiday week. Please don’t forget to come back here on Thursday especially if your turkey didn’t turn out the way you planned. On Thursday, you’ll be invited to check out where you can go out to eat for Thanksgiving dinner in Northville and Novi, Michigan.

248-348-7200

Novi Scores as One of Michigan's Best Cities to Live in for Young Families

by The Jamey Kramer Group

Novi Scores as One of Michigan's Best Cities to Live in for Young Families

Would you like to live in a place that you can comfortably afford?

When looking for a good neighborhood to raise your family in, what do you look for? Good schools may come to mind first. Another thought might be is if houses in a city are affordable for your young family. Lastly, it would also be important to know that the city where you purchase a house with a 30-year mortgage is a city that is thriving and will continue to thrive years to come.

NerdWallet

The questions above are the exact questions that NerdWallet asked when they put together a list of the top cities in Michigan to live in for young families. Nerdwallet’s mission is to boost honesty and transparency in personal finance, so that consumers can save time and money, and feel confident about the financial choices they make. The company prides itself in providing unbiased and unfiltered information and has been featured on The New York Times and The Wall Street Journal. 

Great Schools

When looking for great schools, NerdWallet looked at the ratings of academic performance from a non-profit called GreatSchools. GreatSchools takes schools’ standardized test scores and compares them to the state average. Every school is then given a 1-10 score with 10 being the best. The higher the school is rated the higher the city scored.

Affordability

Another important aspect about picking where you want to live as a young family is affordability. NerdWallet helped decipher this by looking at the median home value, monthly home costs that include mortgages, taxes, insurance, etc. The lower the cost, the higher NerdWallet scored the city.

Is The City Thriving?

The last aspect NerdWallet considered is if the city is thriving, growing and prospering. They decided that by looking at the income growth of the median household income over the last 10 years. As I’m sure you guessed, the higher the income the higher the city scored.

Here is NerdWallet’s Top 10 Best Cities in Michigan to Raise a Family in reverse order:

  1. Mount Pleasant
  1. Livonia
  1. East Lansing
  1. Ann Arbor
  1. Midland
  1. Novi
  1. Royal Oak
  1. Rochester Hills
  1. Portage
  1. Troy

As you can see, Novi, Michigan was ranked number 5 on that list. This isn’t Novi’s first appearance on a top 10 list. In fact, Novi’s great schools, low crime rate and tremendous housing market put it on Movoto Blog’s Top 10 Best Cities in Michigan. On that list, Novi ranked number 2. You can read more about that in our article, Novi Voted Second Best City in Michigan.

If you are in the market for purchasing a house in a great city, please give our office a call. We would love to help you find your dream home in the thriving city of Novi.

 248-348-7200

Michigan Home Prices Are On The Rise

by The Jamey Kramer Group

Michigan Home Prices Are On The Rise

Are you wondering if it is a good time to sell your house in Michigan?

Would you like to get the same price for your home that you paid for it?

Could it really be time to put your house on the market? You may have been waiting and watching anxiously for your home value to return to at least as much as you owe on it. According to new data, that time could be here.

Today, we are going to give you 3 reasons why right now is the perfect time to sell your home.

  1. Home Values Are Making a Comeback

    While home prices are still below what they were at the peak in 2006, home prices in Michigan are on the rise. The Detroit Free Press reported,

    “Previous data from Standard & Poor’s/Case-Shiller Home Price Index indicates that home prices in metro Detroit are generally back to where they were in summer 2008.”

    Median Home Sale Prices Up 42% From Last Year

    What is so interesting is that this time of year is usually considered a low time in real estate. Last month, however, Realcomp reported that median sales prices rose 42% higher than October 2012 in the four county regions of Wayne, Oakland, Macomb, and Livingston counties.

    Top 10 States With Year-Over-Year Price Gains

    In addition, Michigan made the top 5 list for states that had year-over-year price gains. According to The Detroit Free Press, here are the top ten states with year-over-year price gains as reported by CoreLogic,
     
    1. Nevada: Increase of 25.3%
    2. California: Increase of 22.5%
    3. Arizona: Increase of 14.5%
    4. Georgia: Increase of 14.4%
    5. Michigan: a 13.9% increase
    6. Oregon: Increase of 13.6%
    7. Idaho: Increase of 12.4%.
    8. Florida: Increase of 12.1%
    9. Washington: Increase of 12%
    10. Utah: Increase of 11.9%
       
  2. Michigan’s Home Sales Prices Gain While Mortgage Rates Increase

    We all remember the low interest rates of 3.4%. We heard about them on the radio, on the TV and all over social media. They almost seemed to mock us since many of us still owed more than our house was worth. It didn’t matter how low the interest rates dropped.

    Thankfully, those days are coming to an end.

    Interest rates have risen to approximately 4.16%. The difference now is that the home values are rising as well. The 4.16% interest rates look a lot better when your home is worth what you owe or even what you once paid for it. The 4.16% interest rate doesn’t mock us. Instead, it inspires us. It motivates us because we know that interest rate could be ours on our next home.
     
  3. Selling Takes 56 Days From Start to Finish

    Karen Kage, the CEO of Realcomp, reported that it is only taking sellers about 56 days to sell their homes. That is fifty-six days from start to finish. She explained that houses are selling so fast that they are not counted in the inventory numbers. The Detroit Free Press quotes Kage as stating,

    “The thing that’s really interesting is it looks like the inventory is at an all-time low, but we’re actually getting more listings in than we did at this time last year,

To answer the question, could it really be time to put your house on the market? There has never been a better time to sell your home in Michigan.

If you are interested in putting your house on the market and taking advantage of this optimal time to sell, the Jamey Kramer Group would be honored to help. Please call our office at:

248-348-7200

Northville Public Schools Named to 2013 AP District of the Year Honor Roll

by The Jamey Kramer Group

2013 AP District of the Year Honor Roll

Are you looking to move to a school district that provides its students with the ability to succeed?

While you’re looking for new homes, are good schools on your list of “must haves”?

Almost every future homeowner that walks into my office has a list of “must haves.”  If having a family is an option for this future homeowner, great schools are a top priority on that “must have” list. All parents want the best for their children, and it is completely understandable why great schools are a main concern.

Northville, Michigan’s highly acclaimed schools is one of the many reasons why I enjoy selling homes in Northville, Michigan. With Northville Public Schools again making headlines for being named to the College Board’s 2013 AP District of the Year Honor Roll, I would like to share a more in depth spotlight on this highly desirable award.

2013 AP District of the Year Honor Roll

The College Board released the 2013 AP District of the Year Honor Roll that includes a list of 539 schools districts across the United States and Canada. This distinct recognition is awarded to school districts that have increased access to Advanced Placement® course work while increasing the percentage of students that earn scores of 3 or higher on AP Exams. AP or Advance placement courses are courses that allow students to engage in college level courses and earn college credits.

In order to be included, the district must have completed 3 components.

  1. The district must increase participation or access to advance placement courses by 11% in small districts, 6% in medium districts, and 4% in large districts.
  2. Access to these advance placement courses must be available to all students. To ensure this, the percentage of Hispanic/Latino, African American, and American Indian/Alaska Native students who are taking advance placement exams cannot decrease by 10% or more in a small district and 5% or more in a large or medium district.
  3. Lastly, the school district is required to improve the students’ performance levels. This is measured by percentage of students scoring a 3 or higher on an AP exam compared to the previous scores unless the school district has already reached a performance level more that 70% of advance placement students who have scored 3 or higher.

As you can see, it is quite an impressive honor for a school district to make it on the list.

Who Put This List Together?

The College Board is the not-for-profit organization that put this honor roll together. According to the organization’s website,

The College Board is a mission-driven not-for-profit organization that connects students to college success and opportunity. Founded in 1900, the College Board was created to expand access to higher education. Today, the membership association is made up of over 6,000 of the world’s leading educational institutions and is dedicated to promoting excellence and equity in education.”

Northville, Michigan is a highly desirable place to live and raise a family with great schools and beautiful homes. If you would like to start looking at homes in the Northville area, please give my office a call. I would love to help you find the home of your dreams.

248-348-7200

FHA Loans and Qualifications for First-Time Home Buyers

by The Jamey Kramer Group

FHA Loans and Qualifications

Are you a first time home buyer?

Is your credit score a little less than perfect?

If you have answered yes to any of the above questions, then this is an article you will want to read. FHA loans can be a great option for first-time home buyers because they don’t require a huge down payment. Today, we are going to share with you what a FHA loan is and how to qualify.

What is a FHA Loan?

FHA stands for Federal Housing Administration and is a mortgage loan that is insured by the federal government. This type of insurance allows the lender to have a lower risk if the borrower defaults on their payments because the loan is insured by the government.

FHA loans have been around since the 1930s. Here is what Zillow said about the history of the FHA program:

“The FHA program was created in response to the rash of foreclosures and defaults that happened in 1930s; to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable. Nowadays, FHA loans are very popular, especially with first-time home buyers.”

First, let’s take a look at some advantages and disadvantages to getting a FHA loan instead of a traditional loan.

Advantages of FHA Loans

The advantages of FHA loans are easy to see and include:

  • FHA loans are often the easiest loan to qualify for.
  • FHA loans require only a 3.5% down payment.
  • You do not have to have stellar credit to qualify for FHA loans.
  • If you decide to sell the home, the buyer has the ability to assume your loan.

Disadvantages of FHA Loans

There are a few disadvantages to this type of loan. FHA loans require that you to have 2 different mortgage insurance premiums.

  • The upfront mortgage premium or MIP: Regardless of your credit score, you are required to buy 1.75% of your loan either upfront when you purchase the home or this can be rolled into your monthly payments.
  • Annual MIP: This is not a yearly charge, but rather a monthly charge that is figured into your mortgage payment. This charge is based on the loan-to-value ratios.

Qualifying Requirements of FHA Loans

Here is a list of a few of the qualifying requirements for an FHA Loan:

  • A two year history of steady employment.
  • A down payment of 3.5%.
  • The property must be approved by an FHA-approved appraiser.
  • The cost to own the home including the mortgage, HOA fees, property taxes and mortgage insurance must be below 31% of your gross income.
  • All of your debt including your mortgage, your credit card payments and your student loans must be below 43% of your gross income.

If a FHA loan sounds like a good option for you and you are interested in starting the home purchasing process, please make sure to give our office a call. We would be honored to help you find your new house.

 248-348-7200

Is Northville, Michigan a Good Place to Live?

by The Jamey Kramer Group

Northville, Michigan

Are you looking to settle down in a safe city?

When I was growing up, it was normal for mothers to say, “Come home before the street lights turn on.” I would run around the neighborhood with my friends or play in the huge neighborhood game of capture the flag. Back then, our parents had a peace of mind knowing that we were safe.

Do you want your children to grow up in a safe neighborhood?

The answer to that question is obviously yes for every parent. Nothing is more important than keeping our children safe. Nowadays, many parents do not have the same sense of security that their parents had while raising a family. However, settling down in a neighborhood that statistics show is a safe environment will inspire peace of mind. Today, we would like to share with you about a city in the Metro Detroit area that is statistically a safe place for you to raise your family.

Northville’s Rich History

Northville, Michigan is known for its rich history. The Victorian style architecture in the Historic District can seem to transport you to another time. Unlike many other cities, the homes built before the 1930s still have the same charming beauty.

According to the City of Northville’s website, it too plays into rich history by offering old-fashion benches and lamps posts throughout the downtown area, plus specialty shops, theaters and preserved landmarks.

It wasn’t too long ago when we published an article entitled, Northville, Michigan - Great Schools, Low Crime and Small Town Charm. In that article, we highlighted the appeal of Northville’s low crime rate. However, according to the FBI’s 2012 Crime Stats for Northville, Michigan, crime is even lower.

2012 FBI Crime Stats for Northville, Michigan

The FBI report breaks down all the reported crime in the United States by city. According to the section, Michigan – Offenses Known to Law Enforcement by City, 2012, Northville has seen a decrease in both property crime and violent crimes as compared to 2011. There were only 2 violent crimes reported in 2012 which is a violent crime rate of .03% in a population of 5,968 in 2012. The combined statistics of all categories show that Northville has one of the lowest overall crime occurrences in Metro Detroit.

If you are looking for a safe city to raise your family, you can rest assured that Northville is a city that you will want to take a closer look at. If you are interested in purchasing a house in Northville, Michigan, we would be honored to help. Please call our office at:

248-348-7200

3 Secrets to Why You Should Buy a House This Winter

by The Jamey Kramer Group

3 Secrets to Why You Should Buy a House This Winter

Have you been considering buying a house?

I know, moving in the winter sounds less than ideal, especially in Michigan. Cold weather, holidays at home, and snow are all reasons why you may have thought about pushing your move off until the summer. However, today, I am going to let you in on a few secrets that make moving in the winter a good idea.

There are 3 secrets to why you may want to consider moving this winter. The first is mortgage rates fell below 4% last month. We haven’t seen this low of mortgage rates since this past June. Second, you may like to consider buying a house this winter because it isn’t the most pleasant time to move. Buyers are typically scarce giving you the pick of the houses on the market. Lastly, sellers who keep their homes on the market during the winter are likely to be a little more flexible and motivated which could mean a better deal for you.

Let’s take a deeper look into these 3 secrets.

  1. 30-Year Fixed Mortgage Rates Fell Below 4%

    To be honest, I wasn’t sure if we would see an interest rate this low again. Yahoo! Homes reported last month that interest rates dropped below 4% for the first time since June.

    This winter, you can still lock in a low interest rate. For example, on October 22, 2013, you could purchase a home with a 30-year fixed interest rate of 3.98%. That low of a rate proves that this winter might be the perfect time for you to purchase a house.

    In addition, we don’t know how much longer 30-year fixed mortgages will be around. The Democrats and Republicans are deeply divided on 30-year fixed rate mortgages, and Washington is currently in debate about it. You can read more about this debate in our article, Will The 30-Year Fixed Rate Mortgage Disappear?
     
  2. A Less Competitive Market

    For the same reasons why you don’t want to move in the winter, other potential buyers are choosing not to as well. This gives anyone looking to buy a house during the winter an advantage. That advantage means that if you chose to buy this winter, you won’t face the same type of competitive market like you will in a few months. You may even be able to come in with a lower offer than you can in a few months from now.

    According to MSN Real Estate,

    “There will be less competition for any house you do find and fall in love with, and less competition should translate into a bigger discount. Prices are typically at a 12-month low in December, according to Realtor.com.”
     
  3. Flexible Sellers

    It’s no secret that selling your home in the winter can be difficult. As a buyer, you can use this non-secret to your advantage because those homes that are still on the market may have flexible sellers. Flexible sellers could mean many good things for buyers who are willing to brave the winter weather.

Now that you know the 3 secrets to why buying a home this winter may be the perfect time for you to move, please give our office a call. We may be able to get you into your dream house by Christmas.

248-348-7200

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