Michigan Right to Work – I smell appreciation

For us left in MI, here’s some sobering stats and realities. Per the Wall Street Journal: “Between 1980 and 2011, total employment in right-to-work states grew by 71%, .. in non-right-to-work states … 32%. .. in Michigan … 14% during that time…. inflation-adjusted compensation grew 12% in right-to-work states, but just 3% in the others…. … More Michigan Right to Work – I smell appreciation

Real Estate May Be The Buying Opportunity of the Decade

After you read the below article I posted in 2012, jump on forward to this: Investing: then and now March 29, 2018   … so said Time mag back in July 2011. Click the photo to check their logic. I wouldn’t have called out the buyers quite so quick, but now I’m bullish on buying. Why … More Real Estate May Be The Buying Opportunity of the Decade

income property: a late-in-life retirement plan

“Income property can be an important bridge to retirement for those without quite enough to retire in the traditional sense,” says J. Camarda, a real estate investor, Certified Financial Planner, and Chief Investment Officer of Jacksonville, Fla.-based Camarda Wealth Advisors. Because real estate is such an inefficient market, it’s possible to find awesome bargains with … More income property: a late-in-life retirement plan

Investors Are Looking to Buy Homes by the Thousands

…….The big investors are wooed by what they see as a vast opportunity. There are close to 650,000 foreclosed properties sitting on the books of lenders, according to RealtyTrac, a data provider. An additional 710,000 are in the foreclosure process, and according to the Mortgage Bankers Association, about 3.25 million borrowers are delinquent on their … More Investors Are Looking to Buy Homes by the Thousands

FED INCOME TAXES / Capital Gains Tax on Investment Property

Long-term capital gains (held more than 12 months) are taxed at a maximum rate of 15 % ( 5% for persons in the 15% tax bracket). CAUTION: When investment property is sold, depreciation taken during the holding period is “recaptured” & taxed at 25 %. Assume an apartment bldg. purchased nine years ago for $300,000. … More FED INCOME TAXES / Capital Gains Tax on Investment Property

For real estate, a giant spring clearance sale

Despite record affordability of homes, buyers are still spooked and staying on the sidelines  ..Existing home sales plunged nearly 10 percent in February to their lowest level in nine years. It was the largest drop since July. Forty percent of those sales were on distressed properties. And new home sales are on track to come … More For real estate, a giant spring clearance sale

Flint loosing more than any but New Orleans

Cities like Flint, Mich., have economies based on a single major industry. In Flint’s case, that industry is auto manufacturing. When that industry began to decline, Flint was unable to diversify to prevent a population exodus. ……..Since the American auto industry began its decline in the 1980s, Flint has consistently lost at least 10% of its … More Flint loosing more than any but New Orleans

Michigan foreclosure rates by ZIP Code…

Opportunities or scary realities ? The webmaster passes along these thoughts with the post/link: New administration in Lansing should make MI a changed economy in about 3 yrs ( ask me for my source ), the areas with the furthest drops should see the biggest opportunity for gains – we’ll we’ve certainly dropped, and current … More Michigan foreclosure rates by ZIP Code…

Oakland Co. Tax Foreclosure Sales

http://www.oakgov.com/treasurer/del_prop/landsale.html Call us if you’d like representation in bidding &/or purchase, rehab, tax or landlord consulting. SALE #1: The land sale is the first offering of these parcels at a live auction which is held in the Oakland County Commissioner’s Auditorium. It is the second Tuesday of August at 10:00 a.m. SALE #2:  Per State … More Oakland Co. Tax Foreclosure Sales

Tax Auction Buyers…call us for “whats next” consultation.

Genesee county handles tax foreclosures a bit differently than other counties. See the Land Bank site for a bit more info. Tax Law Comparison Chart Former Foreclosure Law • 4-7 year process • No clear title • Hundreds of owners • Low-end speculation • Indiscriminate foreclosure •• homeowners at risk • Contagious blight New Tax … More Tax Auction Buyers…call us for “whats next” consultation.

Tax Auction Sales coming up, Call if you need a rep!

Step 1, look at the list of offerings…  http://www.michigan.gov/taxes/0,1607,7-238-43535_55601_55604—,00.html #2: look up the property online/ local gov’t office/ physically inspect in person #3: review the FAQ’s then go bid – OR send us on your behalf. Subdivision plat maps for the entire state are available via the Department of Energy, Labor and Economic Growth (DELEG) … More Tax Auction Sales coming up, Call if you need a rep!

Detroit area long term prices headed up.

Housing Markets That Will Be Strongest by 2014 By Venessa Wong, Bloomberg Businessweek Aug 4, 2010 Since reaching a peak in 2006, home prices in the Detroit area have fallen 60.5 percent, according to the Fiserv Case-Shiller Indexes. As homes have become more affordable—the median home price in Detroit is lower than median family income—demand … More Detroit area long term prices headed up.