Real Estate News

June 10, 2018

Michigan Outpaces the National Average for Property Value Growth

Nationwide, home prices increased 6.9% year over year comparing April 2017 to April 2018, according to the most recent CoreLogic report. This includes a substantial jump of 1.2% from March 2018 to April 2018. Although nationally the growth rate was 6.9%, various geographic areas demonstrated vastly different ...

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June 3, 2018

Breaking: Birmingham Reduces Property Taxes

At the May 24 meeting last month, the city commission voted for a property tax deduction for the 2018-2019. The budget appropriations resolution was approved, adopting the city of Birmingham’s budget and establishing the total number of mills for ad valorem property taxes for the fiscal year beginning July 1 ...

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May 1, 2018

How to Win a Bidding War with Escalation Clauses

It is probably not surprising to you that we are currently experiencing a strong sellers’ market. So, what is the best method to compete with other potential buyers? As a serious buyer, you want your offer to be accepted, and unless money is no object, you don’t want to overpay ...

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April 26, 2018

Maximize Tax Savings by Proper Investment Property Planning

I often receive questions from new and seasoned real estate investors regarding taxation of investment properties. There are many conflicting ideas out there about how to deduct this and save on that. This confusion is not unreasonable. The US has a convoluted tax code. I implore you speak with your ...

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March 25, 2018

How long does it take on average to sell a home?

Its not uncommon for homes in certain markets to stay on the market for a day or less. Sometimes, homes can go pending within hours after hitting the MLS. However, what is typical? And, why do some homes sit on the market for months? The biggest factors affecting the speed ...

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March 19, 2018

Troy Michigan Residential Real Estate Market Report for March 2018

If you have been considering selling your home in Troy, residential real estate statistics are indicating that now is the right time. Over the past year, the median home value increase was $11,000 in the state of Michigan. In the City of Troy specifically, the median property value growth ...

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March 16, 2018

Surprising Drop in New Home Construction in February

The February numbers for new residential developments were just released and were surprisingly low. Overall, new housing starts were down 7%, annualized to a total of 1.24 million. This is down from a January annualized total of 1.33 million.  The interesting fact is that decline was experienced ...

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Posted in Real Estate News
March 15, 2018

How do Oakland County Residential Real Estate Market Statistics Compare to National Numbers?

Nationally home prices grew 6.2% in 2017, which is the largest annual growth since 2013. Not only does this equate to $15,000 equity bump for 2017, but it also suggests that the economy will experience an extra $50B in consumption over the next few years. Of course, this ...

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March 14, 2018

Birmingham Michigan Market Report For March 2018

Over the past year, from February 2017 through February 2018, the city of Birmingham experienced a massive drop in new listings. With just 854 new listings in annualized in February 2018, compared to 1137 one year prior, the city now has approximately 25% fewer new listings actively coming to the ...

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March 13, 2018

Old Woodward Construction to begin in Downtown Birmingham on March 26

The city of Birmingham will begin the $7 million construction project on Old Woodward on March 26. The project’s scope includes replacing sewers, water mains, roadways, traffic lights, and design elements such as planters, trees, and benches. The construction is centered on intersection of Maple Road and Old Woodward, the ...

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