Russ Patterson

Michigan Realtor, Real Estate Investor, Advisor, and Inventor of RUSSisms (You'll have to follow to understand)

[Russ Patterson @RusselPatterson]

#CallToAction for those who believe that #Michigan Legislators need to overhaul the #PropertyTaxation laws to be in balance again

[Russ Patterson @RusselPatterson]

#Michigan 2009 Assessments have begun to adjust downward this year with some communities STILL not coming down...2010 will be much better

[Russ Patterson @RusselPatterson]

#DoubleStandard - If Appraisers are being forced to use #BankOwned sales as comparables then the local #Assessor should do the same...right?

[Russ Patterson @RusselPatterson]

I think #FHA and #FannieMae were a little #rambitious when deciding to force the use of #BankOwned sales in appraisals in represent value

[Russ Patterson @RusselPatterson]

Are Apartment Complexes & Income Property more stable on #Appraisals right now because they are forced to use the Income Approach?

[Russ Patterson @RusselPatterson]

Artificially low #Michigan #RealEstate sales now will be feeding refinaces after some stablizing when trying to drop rates & mortgage Insur.

[Russ Patterson @RusselPatterson]

#RealEstate Values: If the Income Approach is worth more than the artificially low Comparable Approach...then Income should be used!!

[Russ Patterson @RusselPatterson]

Artificially low #RealEstate values are being influenced by appraisers through new FHA & Fannie Mae guidelines forcing the use of Bank Comps

[Russ Patterson @RusselPatterson]

Remember that in these trying economic times in #Michigan #RealEstate, there will be a rebound back from the artificial lows right now...

[Russ Patterson @RusselPatterson]

#RealEstate in #Michigan is sparking some interest...it is well undervalued for the nationwide

[Russ Patterson @RusselPatterson]

There is a future again in #OrganicSales for #Michigan but meanwhile for now, non #Organic will make for future #OrganicSales clients

[Russ Patterson @RusselPatterson]

It's frustrating convincing sellers that their #OrganicSales attempt is really a future #ShortSale if they #NeedToSell soon.

[Russ Patterson @RusselPatterson]

When will #OrganicSales be the Majority again of #RealEstate sales in #Michigan ?

[Russ Patterson @RusselPatterson]

As a reference: Russ Patterson and Russel Patterson is RusselPatterson on #Twitter

[Russ Patterson @RusselPatterson]

When a someone buys a bank owned house cheap enough, they have the equity now to become an #OrganicSales

[Russ Patterson @RusselPatterson]

While #OrganicSales in real estate seem like they are a dying breed, there is hope in 6-12 mo when bank owned buyers start trading up!!

[Russ Patterson @RusselPatterson]

Well Balanced communities have more #OrganicSales than other communities thus holding value better

[Russ Patterson @RusselPatterson]

Michigan is getting closer and closer but still not there to have #OrganicSales be predominant again...

[Russ Patterson @RusselPatterson]

I have termed #OrganicSales as any real estate offered in a way that does not require any corporate subsidy

[Russ Patterson @RusselPatterson]

Someone make me feel better knowing that there is a state that takes longer than #Michigan to #evict tenants for non payment of #rent?