Providing Real Estate Solutions
Southeast Michigan Rebound Report June 2020
View market updates for YOUR neighborhood!
We have received many questions on how the real estate market is faring as a result of the Pandemic. The good news is the market is strong and following the line we had anticipated at the onset of COVID. For Sale inventories are tight, employment for the home buying market is stabilizing and interest rates are historically low. The low rates are causing an additional jump in demand. For Sellers, this is one of the best times in recent history to put your home on the market. For Buyers, be patient, have your mortgage ready to go and don’t be afraid to be aggressive with your offers. Some are projecting interest rates to fall further. That will drive up a equal increase in prices, so waiting for further rate reductions will not likely benefit buyers.
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In Other News...
Moving Company Scams!
Before you select a moving company, make sure they are legit! Some companies appear real with a FAKE company website and customer service reps! What happens is, they quote you a price for moving then after they have packed your belongs and left your house, they hijack your belongings and tell you they need more money! If you don't pay, you don't get your belongings! More than that, you don't even know where they took your belongings and they won't tell you unless you pay.
Be smart and do some research on the movers you decide to hire. Check the Better Business Bureau.
Other helpful Web sites include:
Read More! Moving Company Scams
Here is an example of a FAKE website. This company hijacked my friend's belongings from New York to Maryland.
Beware of the moving companies below:
Blue Oaks Moving
They are all the same owner. Not very good at estimating. $1,700 estimate ended up being $3,400. Also very unprofessional!
Wire Fraud Alert!!
Wire fraud in real estate transactions continues to grow. Please verify with your title company before wiring money!
The fraud is this; the bad guys hack into someone's e-mail (buyer, seller, agents, etc.) and impersonate your agent. They then send you (typically the buyer) an e-mail under your agents name with wiring instructions for your money, often it is a notice saying "disregard the old instructions and use these new wire instructions" which of course will send the money to the criminals.
Clients, particularly buyers, should take the following steps to avoid becoming a victim.
Always verify any wire instructions, provided by e-mail, with a voice to voice confirmation with someone you know in the transaction.
Always assume any requests to change the wire instructions are fraud and ignore them - title companies and banks don't change wire instructions in the middle of a transaction, only criminals do that.
Do not use any phone numbers or e-mails included in the fraudulent wire instruction e-mail, to verify the wire instructions.
E-mail instructions should come in an encrypted e-mail from your title company. If you receive an unencrypted (i.e. standard type) e-mail that includes closing documents and/or wire instructions, confirm that it is a legitimate e-mail with a face to face or voice to voice confirmation before doing anything with that information.
Change your e-mail passwords on a regular basis.