Buying a house in Michigan?
My husband and I are home buyers 1st time and looking in the suburbs north of Detroit (Rochester Hills, Shelby Twp & Troy who are familiar with the area) We are looking for a house under 150K and I wonder if we should hold out for a bit longer length. Our lease is up in 6 months but is easily breakable. Everyone says that the housing market will hit bottom in late 2008, but we found few houses that we love now (like.. It is not love) I do not want to lose the opportunity, but love to get a better deal. What are the options for home buyers first? Best interest rates? Should we go with a bank or mortgage company?
Your first step should be to go through the qualification process and obtain full approval. Then you can start shopping for houses. While Michigan has a very volatile real estate market right now is a good time to buy – like bargains! Just be sure to have assessment and not pay too much. Working with a realtor and lenders will have your back and have some experience in such markets.
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