Buying a Home

March 12, 2018

Getting Started in Rental Property Investing

Part 2 of 4 of the series on Residential Real Estate Investment Basics: Getting Started in Rental Property Investing
Beginning residential real estate rental property investment typically involves acquiring a single-family home, or a multi-family property, specifically, a duplex, triplex, or quad. The most basic investment plan will calculate the ...

View More
March 8, 2018

From Housing Bubble to Today: How Far Did We Drop and Where are We Today?

After seeing homes prices peak in 2006, the US housing market collapsed in the longest economic recession this country has seen since the 1940s. Nationally home prices dropped 33% on average. In Michigan, home prices crashed 43%, which is 10% more than the national average and the 4th largest loss ...

View More
March 5, 2018

Real Estate Investing Success: Work Harder and Smarter

Part 1 of 4 of the series on Residential Real Estate Investment Basics: Work Harder and Smarter
Since I was young child, I have always had a fascination with real estate and architecture. As a teen, I would sneak into construction sites (please don’t do this!) and walk the floor ...

View More
Feb. 28, 2018

Michigan Property Taxes and Avoiding "Uncapping"

The Tax Act requires an annual assessment of all taxable property in the state of Michigan. Before the end of the day of the first Monday in March, the assessor must complete the annual assessment roll, setting forth the name and address of every person subject to the tax, along ...

View More
Feb. 26, 2018

1031 Exchange – Defer Tax to Increase Wealth

When a property is sold, the seller is forced to pay capital gains on the profit realized from this sale. For example, say you buy a rental property in 2010 for $250,000. If you are able to sell that property today for $310,000, you would have a profit ...

View More
Feb. 25, 2018

Michigan Water Law Basics

Water law is important in Michigan, not just because of the Great Lakes, but also because the state boasts more than 60,000 inland lakes and rivers as well. The terms riparian and littoral are used to refer to the set of rights that a landowner has to use the ...

View More
Feb. 22, 2018

State of the Residential Real Estate Economy

State of the Residential Real Estate Economy

First time home buyers represented 29% of the January sales, down from 33% one year ago. Cash sales up only 1% year on year, while distresses sales down  2 points to 5% of sales. (Data courtesy of the National Association of Realtors). Across ...

View More
Feb. 20, 2018

How will the 2018 Tax Reform affect Homeowners?

How will the 2018 Tax Reform affect Homeowners?
The Tax Cuts and Jobs Act was officially signed into law on December 22, 2017, and made effective for the 2018 calendar year. Here is what changed, of importance to home owners, and what did not change.
•    Mortgage Interest Deduction: Interest ...

View More
Feb. 20, 2018

2017 Metro Detroit Sales Metrics

2017 Metro Detroit Sales Metrics

Comparing 2017 to 2016 single family residential metrics (through November of each year), we saw a decrease of listings on the market in southeast Michigan. However, sales price increased, and days on the market decreased. See metrics below:

 

2016 (through November)

2017 (through November ...

View More