Tuesday, December 1, 2009

Your Credit Concerns on a Home Purchase!

With concerns over debt, job losses, and if there is food on the table we are all worried in someway about or financial standing. While we wonder how much we saved and what our next paycheck is, what we should really be checking is our true worth....CREDIT!!

Most of our large purchases are done through some type of loan. This loan is given to us based upon our credit: confidence in a purchaser's ability and intention to pay, displayed by entrusting the buyer with goods or services without immediate payment.

In simpler terms...if you keep up on your payments, you have a better score and with that better score you can secure more moneys through various loan types.

We got into this financial mess because we all were more concerned about what we "had" and never focused on what we "truly had"!! Banks gave loans to people who could not pay, people took out loans on things they could not afford, bets were hedged on properties that were over priced and in the end we were over our heads in debt: an obligation or liability to pay or render something to someone else.

Now how does this affect a home purchase?

Well if not already known it affects it greatly. That credit we talked about earlier is crucial for receiving a Home Mortgage: a conveyance of an interest in property as security for the repayment of money borrowed. This issue is that the bets on over priced properties were these home mortgages. These mortgages were then given to people who couldn't afford them. The properties were then sold to these folks at a price much higher than the market could truly bear.

What Happened?

The homeowners then lost their jobs or stopped paying the mortgage payments because they truly couldn't afford them in the first place. These mortgaged homes were then took back by the banks who basically had an overpriced mortgage.....TO MUCH WAS BET ON A PROPERTY NOW WORTH 20% LESS THAN THE MORTGAGE HAD OUTSTANDING!

In today's Real Estate Market we are seeing large numbers of distressed properties. GREAT FOR BUYERS.....but remember your credit is at stake. Keep these valuable things in mind....

1. Ask yourself if you can truly afford these monthly payments.

2. Ask your Lender what the true costs will be (They are required by law to do so!!)

3. Look 2-5 years ahead and make sure you can still afford these monthly payments.

4. Don't forget other household expenses.

5. USE EQUITY WISELY!!!! - This is very important and another reason why so many homes have foreclosed. Don't take out an equity loan to go on a date or buy that new 4 wheeler. KEEP IT IN THE HOME!!

Stay focused and ask questions! The market will recover and we will be financially stable to make better decisions in 2010!

Justin Peck

Miller Real Estate

149 W. State Street

Hastings, MI 49058

Cell: 269-760-4965

Tuesday, November 3, 2009


We have seen somewhat of an upswing in the Real Estate market within the past month. While the First Time Home Buyer Credit is nearing its end this may have pushed the stimulus we are seeing today!

The normal property sale can take 1 month to close. With lower property prices and multiple foreclosures, these "bank owned" homes can be taking upwards of 2 months to finalize. We feel that because of this many properties did go pending (offers were made) in October.

There were 89 properties that were pending in October. The bulk of these went pending in the month while some have been pending since September. Out of the 89 properties pending 54 of them were $100,000 or less.

60% of property sales pending in October were less than $100,000.

While we can clearly see that the market has buyers, many of them are investors or landlords taking advantage of the lower prices. The market is going strong for properties under $60,000! The properties that are above that mark may have a more troubled time.

There are buyers in the $100,000 and up price range, but these buyers have many products to choose from. You must make yours stand out, capture their attention, be clean and polished, have manicured landscaping, and most important be clutter free. Buyers get their eyes caught in the jam. If they see more than what can be registered in their brain they will forget or loose interest in your property. Price is another factor in these buyers eyes. If your property is not correctly priced it may go unnoticed.

Speak to your realtor or Miller Real Estate to help you handle this current situation.

Remember at Miller "WE MEAN SOLD!"

Sunday, October 25, 2009


Hastings secured their playoff spot 2 weeks ago in their 2nd to last regular season game.

The Saxons then battled illness with school being canceled for half the week, then went to face Ottawa Hills. The Saxons did just about everything right in the first half which secured them a strong lead of 36-14 going into half time.

The Saxons came back to win it with a score of 52-42 and an amazing 530 yards rushing. With this win the Saxons became OK Gold Conference Runner-Up while the Conference crown went to Caledonia.

The Saxons will go to the playoffs and face Byron Center who is overall 8-1.

The game time will be announced Monday.


Tuesday, October 13, 2009

Current Conditions include LONG DELAYS!!

In Barry County today more than ever home sales are taking an average of 2-3 months to close. In September alone there were 45 properties sold in Barry County. Of those 45 properties there were 22 that were either short sales or foreclosures.

In September 49% of property sold in Barry County took on average 2-3 months to close.

It is imparative that if trying to recieve the First Time Home-Buyer Credit that you have a home picked, financing ready, and an offer submitted by the end of this week. While Miller Real Estate can't guarantee you will recieve the credit, we can assure you that we will work our hardest at closing the deal by November 30th.

If you are in the process of buying now or are soon going to dive into submitting an offer please remember that on a short sale or foreclosure the banks are controlling our closing date. They usually have multiple parties approving offers and that alone could take up the bulk of our 2-3 month window.

While this can be frustrating we do understand your concern. The Federal Government is changing their regulations with Banks daily and the Banks are struggling to keep up with those changes.

Thanks and Let Miller Real Estate solve your real estate needs!

Justin Peck
Miller Real Estate
149 West State Street
Hastings, MI 49058
Cell: 269-760-4965

Monday, September 28, 2009


Recent unemployment numbers were released showing that in West Michigan, Barry County had the lowest rate of unemployment.

Check out this link for the news article from WBCH. (http://www.ask4direct.com/InfoRead.asp?id=WBCH&InfoID=567982)

This is great news for current and future home owners in Barry County. We can prove that we will weather the storm and our local community has put together many programs that keep us residents on the right side.

Whether it is a hot meal, a needed toiletry, utility payment assistance, or just a friendly helping hand Barry County offers it all.

Great Job Barry County for keeping us intact and moving in the right direction!!

Tuesday, September 15, 2009

Marketing Ideas from YOU!!

What is it that sells a particular product you own or promote?

The fact is that Marketing is what introduces your product, your products market area, your products features, and the features of your follow up business with the customer purchasing the product! It is crucial to understand exactly how to market something to give it value.

What I am asking is that you provide ideas for Marketing Ideas on selling a property. Most agents wont include the client in that process and that is what can burden the property's potential. YOU know the property, YOU know the area, YOU know your neighbors, and YOU are in fact the Employer of the agent.

Give me ideas:

- What you think would work best?

- What media outlets work best for your area?

- Is there a particular new idea that no one has tried?

Comment back with these ideas and we will go through and post the best brought forward.

I'm looking for your input!! Please click on comment link at the bottom of this post.


Justin Peck
Cell: 269-760-4965

149 West State Street
Hastings, MI 49058

Friday, August 28, 2009

Marketing FIRST!

You will see it day in and day out.....REAL ESTATE! Everywhere you turn there is Real Estate for sale.

The first problem is our dwindleing economy. The state is in a recession and Michigan is hurting for jobs. The largest identifying factor to see this first hand is Property for sale.

I am sure that 45-60 % of the properties you are driving by are abandon and the grass as high as corn stalks. This may be a community eyesore but it truly is an economic indicator. People are loosing their jobs and when there is no money to give there are no assets to take.

Barry County has been somewhat fortunate in the last 1-2 years. Local economy is booming. Restaraunts are busy, items are being bought and sold and our local manufacturing market is holding steady. These are all great things for a win in the end. Sure we will suffer now and more will loose their jobs but Barry County is truly a great place to live.

With surrounding retail stores, service industries, manufacturing plants and others hiring we have a lot to look forward too. We each live but not 5 miles in any direction from some sort of water body, have bountless acres of farm land, enchanted forests and clean roadways. Barry County is less than an hour from 4 major metropolitan cities which are also hiring! I truly feel that things may get worst but what we have to look forward to is the future. The future seems bright and when things are down they can only get better!

The local Real Estate market is rising which is a great indicator of things getting somewhat back to normal. While the many great leaders, directors and residents of Barry County look forward I feel that they too will feel a sense of pride about our truly "American" way of life.

Thanks and let that glass always be half full.

Cell: 269-760-4965
Office: 269-945-5182

Wednesday, July 22, 2009


Recently Barry County's Investment Bond rating went from A to AA! With this rating creditors have confidence in Barry County paying debts on time.

Residents can be proud of the rating and it goes to show that Barry County is a GREAT COMMUNITY. With many water bodies, activities, shopping districts, homes, farms, business and the fine residents, Barry County can celebrate!!

Read article on WBCH!! (http://www.ask4direct.com/InfoRead.asp?id=WBCH&InfoID=550136)


Home : Your Lifestyle Investment

While we Americans are always striving for the "ALL AMERICAN DREAM" are we truly investing in our LIFE'S?? While we must answer questions like this on a daily basis, your questions will differ from the next...

- Will this Healthcare Plan be a good investment?
- Will this lawn mower be a good product for my lawn?
- My bathroom needs a new tub. Will this be a good investment for me?

Most of our largest investments will be our home purchase. While we will determine price, layout, size, and features as part of our investment, in our life we must also determine our deeper desires and our lifestyle investment in our home.

The lifestyle we enjoy will be determined in our home purchase. While we may love the location, size and price of our new purchase will we have fully invested in our lifestyle wanted to live there?

- Do we enjoy being close to neighbors?
- Do we enjoy entertaining friends and family?
- The lawn needs upkeep, is that something I want to do?
- Is collecting a hobby of mine?
- Do I enjoy hunting on my own property?

These are only a small amount of the questions we will ask ourselves about our lifestyle. When determining an answer to these types of questions we must look at what needs to be invested to determine our answer. The better able we are at determining our lifestyles, the easier it will be to determine the most accurate home investment.

Justin Peck
Cell: 269-760-4965
149 West State Street
Hastings, MI 49058
Office: 269-945-5182

Tuesday, June 23, 2009

First Time Winning Incentives

Recently I closed on my first home. Not only was the process fluid and simple, I ended the day with first time buyer incentives that were OUT OF THIS WORLD!!

The Michigan State Housing Development Authority (MSHDA) (http://www.michigan.gov/mshda) holds many programs available to first time buyers. Depending on your area the deals are endless. Recently passed legislation has also included monetary grants to all areas of the state.

$ Down Payment Assistance (http://www.michigan.gov/mshda/0,1607,7-141-45866_45870-175332--,00.html)

- This program is available to low-to-moderate income buyers. The household income limits vary depending on location and family size.
- Buyer must complete a short home buyer education class. (GREAT INFO)
- 0% Interest / 0 Payments!! Full amount due upon sale or transfer of property or when the first mortgage is paid in full.
- The max assistance for this program is $7,500.00.

$ FHA Loan (http://www.michigan.gov/mshda/0,1607,7-141-45866_47903-165004--,00.html#FHA)

- 30 Year Fixed Rate Loan available to low-to-moderate income borrowers who meet the MSHDA sales price and income limits.
- Non - Traditional credit score allowed. (Low credit score)

These are the two main programs that are offered by the MSHDA. Check with your local Loan Officer for details.

There are many other smaller programs available to your specific area. For instance in Hastings there is Down Payment Assistance of up to $10,000 and Repair Assistance of up to $20,000 available. This program is truly amazing and I am currently reaping in the benefits. The Down Payment Assistance and Repair Assistance are considered a second loan. This loan is 0% Interest / 0 Payments and if you live in the house for 10 years or more the loan is forgiven. This program is currently available in specific areas so call me for details.

These MSHDA programs are great for beginners. There are also options for current homeowners. Any questions on these great incentives drop me an email, text, phone call or stop in and say hi.

Justin Peck and Miller Real Estate....

Miller Real Estate
149 West State Street
Hastings, MI 49058

Justin Peck
Cell : 269-760-4965
Email : bigjay1585@hotmail.com

Monday, May 11, 2009


Hello to all who are viewing this blog. I would like to introduce myself first...

My name is Justin Peck and I am currently working through Miller Real Estate! (http://www.millerrealestate.net/)

I have 6 years of sales experience and 20 + years of getting to know beautiful BARRY COUNTY! (http://www.barrycounty.org/)

I find that a personal touch should be added to everything I do in life. In this line of work staying personal helps me help you!! While I can't promise several years of Real Estate experience I can promise high energy, solid reliable information, trust, quicker response times, and results. I have 50+ years of Real Estate experience backing me at Miller Real Estate. I work on the premise of "ALL REAL ESTATE ALL THE TIME!"

I have recently went through the home buying process and it was much easier than I thought. I can say that going from renting to buying was very simple and cheaper than I believed. I was able to secure financing through a government loan. I put less that 3% down on the home (which for a 100,000 home is less than $3,000). The payments are $200 less than renting and I have something to add value to my future! Cheap financing, 10% cash back for those who qualify, and low payments ... NOW IS THE TIME TO PURCHASE!

Working with a Real Estate Agent was easy and they knew what I needed and wanted. They truly work hard for your personal success. I did try to complete the process on my own but going through an agent was much easier. They did the work while I supervised. I was able to meet with the agent on weekends, call at all hours of the day, and they explained the "hard to read" fine print in ways in which I understood!!

I have to say that because of my experience and by going through the process myself I am fully ready to serve you in your Real Estate needs. Let me help you work through the process quickly and efficiently to secure your desired outcome. With the boom in technology I will bring new age ways of effectively advertising your home or finding your future.

Whether you are ...

Selling : Let me bring your Real Estate to LIFE!!
Buying: I'm EVERYWHERE You WANT to BE!!

I will be there to help throughout the process. Call today to secure a better future....THE RIGHT WAY!

Justin Peck
Cell: 269-760-4965

Miller Real Estate MEANS SOLD
149 W. State Street
Hastings, MI 49058

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