Metropolitan Detroit Real Estate Blog 
Monday Morning Coffee | March 8, 2010
Monday, March 8th, 2010 at 9:36am. 119 Views, 0 Comments.
INSPIRATION FOR TODAY:
"The path you're on looks different when you turn around."
- Cynthia Copeland Lewis
LOOK BACK TO THE FUTURE!
Life has been described as a path, a direction in which we travel over time - rather than a single event. Each of us gets to choose the direction our path will take us. By making those choices, we also clear the way to achieving the objectives we've set for ourselves.
When we fail to choose the path we will travel, that is also a choice. In that case, the path we travel becomes less distinct with more twists and turns than we would have liked. Each side path we encounter tempts us to change direction. Lacking any roadmap of objectives we might have chosen, we often end up somewhere - else.
Regardless of the quality of…
How To Appeal Your Michigan Property Taxes
Wednesday, February 10th, 2010 at 7:30am. 133 Views, 3 Comments.
By now you probably received your real property tax assessment notice for 2010. If you haven't, rest assured they are in the mail and you will get them in the next couple weeks. If you do not agree with how your municipality has assessed the true value of your property, you have the right to appeal it.
An appeal of a property tax assessment begins at the local level with the board of review. Under Michigan law, the board of review meets on the second Monday in March unless the governing body authorizes an alternative starting date to meet which would be the Tuesday or Wednesday following the second Monday of March.
There are not too many positives to focus on, in the economic condition that Michigan is faced with this, however your property taxes…
Sell Now or Forever Hold Your Home!
Sunday, January 24th, 2010 at 2:43pm. 141 Views, 2 Comments.
Number of Homes For Sale Each Month In Metro Detroit
| |
Jan | Feb |
Mar | Apr |
May | June | July |
Aug |
Sept |
Oct | Nov |
Dec |
| 2009 | 53,815 | 52,361 | 51,492 | 50,685 | 50,181 | 49,503 | 48,831 | 47,753 | 45,706 | 42,785 | 41,304 | 37,608 |
| 2008 | 68,174 | 67,405 | 65,091 | 65,509 | 66,811 | 67,888 | 67,270 | 65,566 | 63,453 | 61,342 | 59,056 | 42,159 |
Get off the fence and sell now!
This is data that nobody is talking about. As you can see from the chart above there are currently only 37,608 homes for sale in Metropolitan Detroit, compared to over 68,000 homes for sale back in January of 2008!
If I was looking to sell my own home sometime within the next 1-10 years, even if the…
$$ INVESTORS ONLY NEED APPLY $$
Monday, December 7th, 2009 at 1:57pm. 360 Views, 0 Comments.
Right now your money in the bank in a best case scenario could bring you 2% in returns and thats only if you lock it up for a year or more. If your money is liquid just floating you might see a return close to 1%. If you're a risk taker, you might decide to play the stock market a little, but again no guarantee on the return there.
Every once in a while I come across a real estate deal that just makes sense any way you look at it. Well this is one of those deals. I have the specifics together and this is what it's looking like.
The Deal...
Here is an opportunity to earn 30% on your investment over a two year period or 15% annually. I have a client of mine who is currently renting a house in West Bloomfield, and he is currently paying $2,200/month. The…
Should I List During The Holidays Or Wait Till Spring?
Wednesday, December 2nd, 2009 at 11:17am. 93 Views, 0 Comments.
This time of the year this is the number one question I get asked on almost every listing appointment, "Should I list now or wait until the spring time?" Without a doubt in my mind, I advise every seller to list now. In fact if I were to list my own home for sale I would do it in October or November for one reason, there is very minimal competition.
What I mean by that is, the reason most homeowners have such a hard time selling their home is because of the quantity of homes for sale on the market. In the months of November, December, January, and February, most homeowners take their house off the market if it had not sold by then, or if they were thinking about selling they wait until March.
Statistically home sales only drop by 20%-25% in the winter…
FAQ's To First Time Homebuyers & Existing Homeowners Credit
Sunday, November 8th, 2009 at 7:29pm. 346 Views, 6 Comments.
It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.
So Who Gets What?
The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.
Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to…
Senate Plans to Extend and Expand Tax Credit To Existing Homeowners
Friday, October 30th, 2009 at 10:04am. 473 Views, 1 Comments.
The Senate has reached a compromise on extending and expanding the $8,000 tax credit for first-time home buyers, a boost the housing industry believes will help it pull out of its two-year-old downturn.
While no vote has occured here are the highlights:
1.)Extend the existing credit for first-time homebuyers, worth up to $8,000
2.)Offering a new credit of up to $6,500 for some existing homeowners. The reduced credit would be available to all homebuyers who have been in their current residence for a consecutive five-year period in the past eight years.
3.) Lawmakers in Washington also raised the qualifying income limits to $125,000 for single taxpayers and $250,000 for joint taxpayers, from the current $75,000 and $150,000, housing-industry…
Commerce MI Lakefront Home JUST LISTED!
Wednesday, October 14th, 2009 at 1:47pm. 418 Views, 0 Comments.
Welcome to 8266 Lake Pine, Commerce MI 48382
Walk into one of the most magnificent lakefront homes ever listed in Metropolitan Detroit. Boasting 3 stories and over 7,000 square feet which includes 4 bedrooms, 5 full baths and 2 half baths, professionally finished lower level, walkout and 2 full kitchens just to start.
Before you get to the entrance, you'll notice the oversized circular driveway that houses over 16 cars. All your friends and family will admire the unique architecture and grand entrance including 2 solid cherry 8' entrance doors to a 2-story grand entrance, above is a Swarovski "old time" chandelier valued at over $15,000. Below is granite floors throughout the entire 1st floor and surrounded by imported hand carved solid cherry…
Just Released Demographic & School Info on All Listings
Tuesday, October 6th, 2009 at 2:56pm. 133 Views, 0 Comments.
Neighborhood information for all listings!
I don't know of another real estate website here in Metropolitan Detroit that has anything like this! This is probably the most useful information I have ever added to my website. From any listings details page there will be a tab called "Get Local." When you click on it, a google map will come up witih a neighborhood information tab that when clicked provides detailed statistics and other demographic information about the area directly surrounding the listing in question.
The "neighborhood information" tab details community characteristics, population statistics, financial statistics (average household net worth, median income etc), crime rates, weather & climate and much much more!
Not enough? Try the next…
11 Tips To Close In Time For $8,000 Home Buyers Tax Credit
Sunday, October 4th, 2009 at 4:41pm. 245 Views, 0 Comments.
Never before has the United States government offered such an incentive to buy a home. Time is ticking and the deadline to qualify for the $8,000 first time home buyers tax credit is quickly approaching. Unless you are paying cash, you literally have 10-25 days to even have a chance at closing on time. You must close on or before November 30, 2009 to qualify. Here are 11 critical tips that could make your brake your ability to qualify for the $8,000 tax credit.
1. Avoid short sales. Have your agent exclude short sale listings. The average short sale takes 3-6 months to complete, you have 30 days to get an offer accepted in order to close by November 30, 2009. A lot of home searching websites have the ability to "Exclude Short Sales." Utilize this…
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