Colonial Village Area!

1717 Cooper, Lansing, Michigan 48910

MLS #   33921 Bedrooms   3 Baths   1.5   Click here for details Description: Contact Adriane Lau at 517-881-5182 – http://www.adrianelau.com – You will be proud to call this gorgeous stone-faced Colonial home! An inviting front porch is the perfect place to relax on a warm summer evening and enjoy the desired Colonial Village Neighborhood. Enter to a large living room with gleaming hardwood floors that opens to a generous dining room. An extra room in the back of the house makes the perfect home office or playroom and walks out to the extra deep yard. The oversized 2.5 car garage is a wonderful feature for the handyman with ample electrical and a great set up for a workshop. The gorgeous hardwood floors continue in all three bedrooms upstairs, many of which feature fresh paint. The basement offers additional living space with a rec room area and a seperate space for laundry and additional storage. Other updates include newer windows, newer furnace (2010), central air, all appliances stay. Adriane Lau RE/MAX Real Estate Professionals 517-881-5182 www.adrianelau.com Full Service Tours: Browse Here

Eastside Neighborhood – Bike to MSU!

431 N Foster, Lansing, Michigan 48912

MLS #   Bedrooms   3 Baths   1   Click here for details Description: Contact Adriane Lau at 517-881-5182 – http://www.adrianelau.com Adriane Lau RE/MAX Real Estate Professionals 517-881-5182 www.adrianelau.com Full Service Tours: Browse Here

Built in 2004 in Waverly!

139 Renker, Lansing, Michigan 48917

MLS #   33161 Bedrooms   3 Baths   2   Click here for details Description: Contact Adriane Lau at 517-881-5182 – http://www.adrianelau.com – Fantastic newer built home in move-in condition. Enjoy the open layout of this 2004 built ranch home. The large living room overlooks an almost half acre lot. A separate dining space is large enough for all your entertaining needs and connects through to the kitchen with a pass through to the living room. All kitchen appliances stay. There are 3 bedrooms and one full bath upstairs, including a generous sized master bedroom with private bath entrance. In the lower level you will enjoy an additional rec room area, perfect for a play area, home office, or second living space. There is also an additional full bath and space to expand, including additional space with a daylight window. You will also love having a two car attached garage, the energy efficiency a newer home offers, and a convenient location within 5 minutes of schools, shopping, and entertainment Adriane Lau RE/MAX Real Estate Professionals 517-881-5182 www.adrianelau.com Full Service Tours: Browse Here

Delta River Drive Area!

2610 Dunbar, Lansing, Michigan 48906

MLS #   33210 Bedrooms   4 Baths   2.5   Click here for details Description: Contact Adriane Lau at 517-881-5182 – http://www.adrianelau.com – This home shines with pride of ownership! Nestled in one of Lansing’s most desired neighborhoods this home will “wow” you with meticulous attention to detail. Enter to the foyer that overlooks the generous sized living room with wood burning fireplace and built-in shelving. The large dining space opens to the kitchen complete with breakfast bar area, updated cabinets, and kitchen appliances which stay. Gorgeous hardwood flooring flows through the rest of the home, including the 4 large bedrooms. The master bedroom is spacious enough for all your furniture and has a sunny sitting area. Enjoy the convenience of having 2.5 bathrooms, an attached garage, and additional living space in the lower level. The lower level also features a spotless storage and workshop space as well as a laundry room with washer and dryer that stay with the house. Other recent updates include a newer furnace, roof, water heater, and windows. Adriane Lau RE/MAX Real Estate Professionals 517-881-5182 www.adrianelau.com Full Service Tours: Browse Here

Changing Lansing One Home at a Time

Something strange has been happening around Lansing. As the doom and gloom of the recession bombards the headlines and swallows up the media attention, a small local construction company, Lau Construction, has been steadily renovating homes around the Lansing area for 5 years now. With 17 projects under their belt, this small company has done all manor of projects. From light renovations, such as paint and carpets, to major overhauls, including one home that was lifted off its foundation so that the foundation could be rebuilt. The list of completed projects includes four homes that had been “red tagged” by the City of Lansing, and one that was slated for demolition. All of these homes are now back in service and have been sold to owner occupants.

Lau Construction was started in 2005 by Christopher and Adraine Lau, who met at Michigan State University in the Construction Management Program. Both have always had an interest in urban revitalization and decided to stay close to home and open their own business. Lau Construction has given special attention to The Westside Neighborhood. Ten of these whole house renovations have occurred in this neighborhood. “We like working in The Westside Neighborhood because we live there as well. The historic character of the neighborhood makes it a wonderful place to live and an easy place to sell a renovated home. We can work close to home and help change the neighborhood for the better at the same time.”

There have been challenges along the way, of course. “You have to learn to adapt to a changing and sometimes challenging real estate market” says co-owner Adriane Lau, who is also a real estate Broker with RE/MAX Real Estate Professionals, “Being on the front lines in real estate I have seen things change seemingly overnight.”

For more photos and information, please visit Lau Construction’s Website.

How long will a short sale take in Lansing, Michigan?

Oh boy…the million dollar question. How long will this short sale take?

It is called a short sale after all. One would think it would be a short process, right? Well, the real reason it is called a short sale is because the seller is going to be short on their payoff to the lender. This means that the amount they can sell the house for will not be enough to pay off the mortgage so the lender will have to agree to take less than what they are owed. And this process is anything but short.

In general a short sale is going to take anywhere from 30 days to 6 months. Or rare occasion it may take more or less time. There are some questions that you can ask up front as either a seller or a buyer to help get a handle of how long it may take. The length of the short sale depends on three things: 1) How fast the seller gets their paperwork to the bank 2) How skilled is the real estate agent who is handling the short sale 3) What bank it is and what loss mitigator (bank negotiator) you get assigned to

Short sales are a relatively new thing and the truth is that the industry is still becoming educated on how to handle them in a timely fashion. Before you get involved you should ask the real estate agents involved in the transaction how many successful short sales they have closed. If they answer is none or one or two, it may take a bit longer since they will have to become educated on the process and may not know what documentation will be required from the lender. You may also ask if they are CDPE certified (Certified Distress Property Expert). The next question to ask is, “Who is the lender?” The smaller local lenders tend to be quicker (I got a short sale approved with Commercial Bank in less than 24 hours) whereas the larger banks take a bit longer. Finally, as a buyer you should ask if the hardship package has already been completed. This is the complete package of the seller’s financial information that will need to be sent to the bank along with your offer. Knowing that it is already done can assure you that you are working with a seller who is getting their paperwork to the appropriate people in a timely manner.

Short sales can be a great option for sellers in distress and also for buyers looking for a good deal. As you consider a short sale just remember that you must have patience and be able to handle a little frustration but in the end if will be worth it for both parties.

DO I QUALIFY FOR A SHORT SALE IN THE LANSING, MI AREA?

FREE LIST OF SHORT SALES/DISTRESS SALES FOR SALE IN LANSING AREA

Photo Credit: http://www.flickr.com/photos/wwworks/

Beautifully Renovated Home at 527 N Hayford Lansing

527 N. Hayford, Lansing, Michigan 48912

Price   $85,000 MLS #   19999 Bedrooms   3 Baths   2   Click here for details Description: Contact Adriane Lau at 517-881-5182 – http://www.adrianelau.com – This home has been meticulously renovated from top to bottom! Located in the desired Eastside Neighborhood, you will enjoy walking to restaurants, coffee shops, and parks. Enter to a 3 season porch, which open to a living room featuring fresh paint and an open layout overlooking the formal dining room and brand new kitchen. The kitchen has been remodeled from top to bottom with new cabinets, countertops, ceramic flooring, and brand new appliances. There is also a first floor full bath and bedroom, which would also make a great office or mother-in-law area. Upstairs you will find 2 additional bedrooms and a second brand new full bath. A huge deck overlooking a large city lot completes the home. You will love how low maintenance this home is with a newer roof, vinyl siding, vinyl replacement windows, brand new furance and water heater, and almost entirely new plumbing and electrical systems. Truly move-in ready! Adriane Lau RE/MAX Real Estate Professionals 517-881-5182 adriane@yourhomepros.com www.adrianelau.com Full Service Tours: Browse Here

Lansing Real Estate: September Sales Numbers

Yeah!!! Sales numbers are back up after taking a breath-holding slide in August. The average sales price is up (albeit only slightly) over 2009 numbers, meaning the average sales price has gone up 8 of 9 months in 2010. Couple this with recent news that Lansing was 7th in the nation for job creation and this realtor is happy. Here are the full sales stats for all who are interested, but in brief the average sales price is up to $107,960 from $104,040 in 2009. We still have a lot of foreclosures to crank through the system but these are encouraging numbers. In fact, the graph is starting to look like it has a bottom, doesn’t it?

Waverly Home for Sale – Move-in Ready!

2923 Timber, Lansing, Michigan 48917

Price   $85,000 MLS #   19247 Bedrooms   4 Baths   2   Click here for details Description: Contact Adriane Lau at 517-881-5182 – http://www.adrianelau.com – Renovated with care, this home is completely move-in ready. The exterior is fresh and updated featuring new vinyl siding and newer windows as well as a 2 car garage with great storage. Enter to a large living room with fresh paint and carpet that overlooks a brand new kitchen with raised panel oak cabinets, new countertops, fresh laminate flooring and brand new appliances. An open layout is wonderful for today’s lifestyles and features a nice sized dining room open to the kitchen. A new 1st floor laundry room adds convenience as serves double duty as a nice mud room space. Double doors open to a HUGE flex room, which would make a perfect master suite or family room with a totally renovated full bath attached. The three other bedrooms also feature fresh paint and new carpeting as well as new doors, trim, and some new drywall. The second bath has also been totally remodeled, with a new vanity, new flooring and fresh paint. This home is also very well-insulated which will save money on utility bills. Pack your bags because such an updated home with such a convenient location won’t last long! Wow! Beautifully renovated home is move-in condition. Features include new siding, newer windows, updated kitchen, updated baths, new carpet, fresh paint, new appliances and so much more! Adriane Lau RE/MAX Real Estate Professionals 517-881-5182 adriane@yourhomepros.com www.adrianelau.com Full Service Tours: Browse Here

Foreclosure Moratorium: Good or Bad for Lansing Real Estate?

The financial industry has been buzzing lately with news that mortgage giants such as PNC and Bank of America and several others have been fudging foreclosure paperwork. As such, there have been calls from attorney generals in all 50 states to put a moratorium on foreclosures until the mess can be sorted out.

At first glance a freeze on foreclosures seems like a great thing. Struggling homeowners are giving a delay and a chance to catch up late payments or perhaps even try for a loan modification. The short-term implications for the housing market in Greater Lansing and the country are great too, less supply from foreclosures means supply and demand are put back in harmony and prices stabilize.

But then I look next door at the giant white house whose paint has begun to chip and birds have begun to nest on the porch and I am reminded that Bank of America is not the best next door neighbor. A moratorium in foreclosures would mean that this and the hundreds of thousands of other homes that are sitting vacant would continue to deteriorate as these large institutions sort out their paperwork mess (The photo at the start of this post is from a foreclosure in Haslett that sat so long after the power was turned off that the sump pump went off and flooded the basement – a common story around Greater Lansing and certainly the entire country)

An article that ran in the associated press states, “The debacle injects yet more uncertainty into a frail recovery that is still trying to find its strength.” A moratorium does not get rid of but just delays foreclosures and at some point they will be released to the market, thus once again flooding the supply and caused prices to dip further.

The same article in the associated press also quotes Mark Zandi, chief economist at Moody’s Analytics, saying that a housing recovery would be under way by the third quarter of next year before this latest hurdle. Now he believes the foreclosure scandal could prolong the housing depression for at least another few years. At the end of the day, real estate is still a very local industry but nation forces can and do affect Lansing real estate as well and we, just like the rest of the country, still have a large supply of foreclosures that need to work their way through the system.