Real Estate News

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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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 ...

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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 ...

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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 ...

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Feb. 28, 2018

IRS Provides Clarification on Home Equity Loan Interest Deductions

When the new tax bill was passed, it was widely accepted that the interest deduction on mortgage would be capped at a maximum of $750,000 of mortgage debt. And, that interest on home equity loans would not be deductible at all. However, recently the IRS issued a news release ...

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