Buyers beware: Seller occupancy after closing

When the seller needs additional time after close and plan post-close occupancy, buyers may wish to consider some ramifications. Will this effect your financing? How about insurance issues? Who will cover costs? … repairs? … substantial losses? Definitions: Use and Occupancy Agreement – Seller to Remain: Principle residence – form/agreement, general in nature. License for … More Buyers beware: Seller occupancy after closing

Michigan Principal Residence Exemption

A significant part of any move, relocation, addition of 2nd home, or estate plan involves taxes; income taxes & property taxes for starters. Hence, below is a primer how to not accidentally double your property tax bill, or conversely, overpay if not need be. Definitions: Principle residence: Plan to return after ‘short absences’. Assessor will … More Michigan Principal Residence Exemption

New tax law – new strategies.

Standard deduction – way up. Itemized deductions – far less valuable. Misc employee exps – gone. State/local & property taxes capped at $10k total. Planning point: move expenses to other places or eliminate them because they have less/no value. LLC’s, S-Corps, Partnerships enjoy new 20% deduction. Planning point: How you hold your property investments can … More New tax law – new strategies.

‘Pocket Listings’ Who loves `em/ who hates `em & why?

Isn’t everything done best via the MLS? Lets look. Meet & Discuss Further <|> Share Your Buy Wish List Loves `em: Often seller(s) who want a highly controlled, minimally invasive, & best outcome approach to the selling process… a “rifle style”. The agent/broker who wants to take the time, target the marketing, minimize interference without … More ‘Pocket Listings’ Who loves `em/ who hates `em & why?

‘Short Sale’

Short sale? – buyers beware!! Meet & Discuss Further <|> Share Your Wish List easy, quick, predictable, a sure possibility of condition of property or title history, etc. NOT  In fact, here are some excerpts from a disclosure for buyers. I think it says it best: ‘…. If you will be frustrated beyond the savings … More ‘Short Sale’

Your Bigger Picture, and ‘Life Changes’

What does that tag line ‘Your Bigger Picture’ on our business card mean exactly? It includes taking a larger perspective on your home sale, first home purchase, vacation home or relocation, and your investment rentals & flips. You see, there is indeed a ‘bigger picture’. After this many years in the business I’ve accumulated many … More Your Bigger Picture, and ‘Life Changes’

Assisting with the sale of an Elderly / Retired Person’s home.

When is it time to sell? For everyone its different. Frequently we begin to consider relocating when: We become ’empty nesters’ We retire A major change in health of one or more homeowners Loss of spouse New opportunities Really, there is the possibility for great strife in moving, even for young and strong. So much … More Assisting with the sale of an Elderly / Retired Person’s home.

Value: Assessed, Market, ‘Zillow’, Taxable

That’s an ‘uuugly house’. It was my 2nd investment & I was a 20 y.o. junior in college. It was also the highest ROI realty investment I ever had! Market Value = house specific, current, based mainly on aesthetic appeal (new kitchen, wonderful yard, location, etc.) Assessed Value = neighborhood average, historical (old), based mainly … More Value: Assessed, Market, ‘Zillow’, Taxable

Real estate bubbles, strategies, and the current market

Are we in a bubble market ? Just read from one of my favorite bloggers who boasts: “15 flips currently in progress. 126 flips completed. 15 rentals properties. Follow me to see how I make money in any market cycle.” So here’s the excerpt & my ‘reply’: “…Low-money-down loans have been available for decades, and … More Real estate bubbles, strategies, and the current market

Local large city property taxes are often far over assessed. v2017.01.24

According the Detroit News, there is a large inequity from property to property. This is true in most large cities in MI. Further, the local board of review personnel often doesn’t know how to or refuses to assist you, the taxpayer they work for, in the process. The article leaves out important details of interpretation. […]

More Local large city property taxes are often far over assessed. v2017.01.24