What's Your Home Worth?

Looking for New Construction?

Have you Seen the Latest, Most Innovative New Floor Plans Available?

Metro Detroit Real Estate Blog

Many people think that selling a home is the only time that a real estate agent will come in handy. Of course, this is true to a certain extent but buyers can also hire an agent in order to work on their behalf. In fact, if you are buying a home you should definitely find a respectable real estate agent who has experience working with buyers.

What will you get out of hiring an agent when buying? The short answer to this question is simple: expertise. Your real estate agent will be able to find the homes that best suit your needs, while also helping with other areas such as negotiations. And remember, you can lean on your agent to help with any questions that may be weighing on your mind. As a buyer of real estate, it is safe to say that you will be

1,173 Views, 0 Comments

Are you interested in selling your home? If so, you are well aware that the market is saturated; and that is only the beginning of the problems within the real estate industry. That being said, you can sell your home in a down market if you know what you are doing. No, it is not going to be easy in many cases, but in the long run you should be able to get rid of your home without having to give in too much.

How are you going to get started? First and foremost, if you are going to sell your home in a down market you need the help of a qualified real estate agent. In a good market, when it seems as if everybody is buying, anybody can sell their home by owner. But in a bad market, you need a quality real estate agent on your side. With the right agent

1,387 Views, 0 Comments

A short sale is when your lender accepts less than what is owed on your mortgage and forgives the debt. On December 22, 2007 President Bush signed into law a new measure to provide tax relief for homeowners facing foreclosure or bankruptcy. The bill eliminates federal taxes due from homeowners who have had mortgage debt forgiven as part of a foreclosure or the renegotiation of a loan. Currently such debt forgiveness has been treated as taxable income.

What this means is if you owe $200,000 on your current mortgage and your lender agrees to allow you to sell the home for $150,000, up until this new law was passed you would get a 1099 for the $50,000 as taxable income and be responsible to pay the income taxes on that amount. The government looked at

1,258 Views, 0 Comments

How a Realtor Still Makes Money By Overpricing Your Home, Even if it Doesn't Sell.

I was on a listing appointment the other day in Commerce Township, Michigan and I came to part of my presentation when the homeowner wanted to know what I thought we should list the home for. In this particular situation the comparable listings were very easy to spot in the neighborhood and the obvious list price was very clear to be between $450,000-$460,000 to be competitive.

They said "the Commerce Township Realtor that was here yesterday said we should list around $500,000." I was shocked. Then they asked, why would a Realtor tell us $500,000 knowing that it would never sell?  He wouldn't make any money if it didn't sell, so why would he want to list our home at a

2,282 Views, 0 Comments

Governor Granholm signed legislation enabling home sellers in Michigan to retain 2 principal resident exemptions for property still on the market after the seller has moved elsewhere in the state.  The signing of this legislation is a huge step in aiding struggling sellers who have had homes on the market for over a year and have lost their principal residence status on that property. Click Here To Download The Form.

House Bill 4215, now Public Act 96 of 2008 sponsored by Representative Ed Gaffney enacts that the seller can retain an additional exemption for up to three years on property previously exempt as the owner's principal residence if the following circumstances are met:

        1. The property is not occupied
        2. The property is for sale

1,306 Views, 0 Comments

It's nothing new among self made millionaires, and independently wealthy individuals who have accumulated wealth through their own means, to go against the common trend in society.  As a matter of fact most millionaires are made during a recession.

Our current real estate market in Michigan provides such opportunities that are being overlooked by many due to the emotional and financial pain associated with the decrease in value of their own homes.  For the past 20 years when home values were consistently appreciating every year, we all felt good about the market and homeowners wouldn't think twice about selling their home for a gain and buy a larger more expensive home.

But consider this example.  Lets turn back the clock five years and look at an

1,689 Views, 0 Comments

You've listed your home and the agent wants to start showing it to prospective buyers. Here's a few tips to help it look its best.

You may have already read the importance of clearing out clutter. Well, that's because it can't be stressed enough. It is one of the most important aspects of making your home appealing to buyers, for two reasons. First, not just papers and dishes, clutter includes decorations and furniture too. Too much of it can block a persons view of the house itself. If everywhere they look they see stuff, a buyer doesn't see your home. It is imperative that they have a clear view, or they won't want to buy. Second, all that clutter screams personality. Your personality. And this is not what a buyer wants to see. When someone is looking

1,439 Views, 1 Comment

A real estate agent will guide you to - and through - the most important decision of your life.

How do you know, for sure, that he will act in your best interests? How do you know if he will really work for you? Is he too busy for you? What of his personal integrity? How much effort will he expend for you?

You will want to feel very comfortable with the real estate agent that you choose, comfortable enough to be able to say 'no' to the bargain of the month and 'no' to the almost perfect house.

He must not be intimidating to you, yet a business-like attitude and assertiveness are qualities you will want in a professional acting for you.

Often when you are choosing a business professional, the outcome is not so critical, but who wants to lose

1,325 Views, 0 Comments

I was on a listing presentation in Northville, Michigan and the sellers said something I am hearing a lot when I am out listing a home.  The sellers said "we were thinking about not selling our Northville home now, and just waiting for the market to get better in a couple years." 

First of all there is every indication that it will be 5-7 years before we see any kind of upward trending market.  How would I know that you ask?  Great Question!  Experts in the industry watch the numbers.  We are in a supply and demand industry and when there is much more supply, than there is demand, unfortunately prices adjust down. 

With that being said, in literally every city, township, and village in Michigan the amount of homes coming on the market each month is

1,396 Views, 1 Comment