The least expensive housing market nationally at the beginning of 2012 was metro Detroit, followed by nearby Toledo, Ohio, according toNAR The third-cheapest market was Lansing-East Lansing, Mich.
In the first quarter of this year, half of the houses sold in the Detroit area went for less than $52,300 per NAR.
|Cape Coral-Fort Myers, Fla.
|Grand Rapids, Mich.
|Palm Bay-Melbourne-Titusville, Fla.
|Tampa-St. Petersburg-Clearwater, Fla.
|Fort Wayne, Ind.
1344 Beaverbrook SOLD.
Pat / Laurie, thank you for the opportunity to serve you.
Mike / Kelly, thank you for the opportunity to serve you again.
Crazy but true. We’ve been filing for refunds when sellers have a:
- Lower SEV when they sold than when they bought
- Sell for less than or equal to: Actual Cash Value ( ACV is SEV X 2 in most locations – sell for more and no refund available)
- Home has always been homestead/main residence/ non rental property
How much will be saved ?
- the state .075% portion of your .086% at closing transfer tax
Whats needed ?
- Proof of SEVs on the way in and out
Can I guess ?
- 20 % penalty if you are wrong ( plus our fee wasted )
There are useful applications to this for buyers/ sellers/ investors.
MULTIPLE PRINCIPLE RESIDENCES:
If you are a seller and have moved into a new home awaiting a sale on the old home, you may qualify for principle residence exemption on BOTH homes whilst you await the sale.
Only makes sense.
Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.
“We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert, executive director of Empowering & Strengthening Ohio’s People (ESOP), a counseling group with 10 offices in Ohio.
“Last year was an anomaly, and not in a good way,” he said.
Here is a look at real-estate news in Monday’s WSJ:
Wall Street Keys On Landlord Business: Some of the biggest names on Wall Street are lining up to become landlords to cash-strapped Americans by bidding on pools of foreclosed properties being sold by Fannie Mae.
Housing Bulls Aren’t So Far Out on a Limb: Proclaiming a recovery in the housing market isn’t for the faint of heart.