Northville Home For Sale On 2.8 Acres

This home will be coming on the market and available for sale here very shortly.  The home is currently being professionally staged by a company called Staging Places, to impress a buyer with the most discriminating taste. The sellers insist on putting a new $20,000 tear-off roof and touching up some interior and exterior paint before we list it for sale. The home is located in the city of Novi with Northville schools and a Northville mailing address.

The SEV on the property is $379,450. Which means Northville Township believes this property is valued around $760,000. The owner paid $555,000 back in 1996 for this up north like retreat.  Although the address is 48265 Nine Mile road, it is far from being on 9 Mile…

Why A Realtor Would Overprice Your Home...

I was on a listing appointment the other day in Northville, Michigan and it came to the part of my presentation when the homeowner wanted to know what I thought we should list the home for. In this particular situation the comparable listings were very easy to spot in the neighborhood and the obvious list price was very clear to be between $450,000-$460,000 to be competitive.

They said "the northville real estate agent that was here yesterday said we should list around $550,000." I was shocked. Then they asked, why would a Realtor tell us $550,000 knowing that it would never sell?  He wouldn't make any money if it didn't sell, so why would he want to list our home at a price that wouldn't be competitive?

Well…

GOLF MANOR SUBDIVISION MARKET UPDATE

Address                         BR      Baths        SF         Style               Status                 Price

8412 Buffalo                 4          2           1977     Tri-Level          For Sale            $125,000

2589 Red Arrow           3          1 ½       1496     Ranch             For Sale            $152,900

8435 Buffalo                 3          1 ½       1800     Tri-Level          For Sale            $148,000

8626 Buffalo                 3          2            2113     Tri-Level         For Sale            $159,900

8656 War Bonnet         3         1 ½        1522      Colonial          For Sale            $159,900

2580…

Governor Granholm signed legislation allowing Michigan property homeowners to keep 2 prinicipal resident exemptions for property still on the market after the seller has moved elsewhere in the state.  The signing of this legislation is a huge step in aiding struggling sellers who have had homes on the market for over a year and have lost their prinicipal residence status on that property. 

Prior to this legislation, if a homeowner still owned two homes and May 1 rolled around, the homeowner would lose their homestead credit and property taxes would go up nearly 1 1/2 times what it was as their principal residence.  Now homeowners in Michigan can keep two properties homesteaded at the same time, getting a tax break on both properties.

House Bill 4215,…

Michigan Governor Granholm signed legislation enabling home sellers in Michigan to retain 2 prinicipal resident exemptions for property still on the market after the seller has moved elsewhere in the state.  The signing of this legislation is a huge step in aiding struggling sellers who have had homes on the market for over a year and have lost their prinicipal residence status on that property.

House Bill 4215, now Public Act 96 of 2008 sponsored by Representative Ed Gaffney enacts that the seller can retain an additional exemption for up to three years on property previously exempt as the owner's principal residence if the following circumstances are met:

        1. The property is not occupied
        2. The property is for sale
        3. The…

It's no secret to self made millionaires, and independently wealthy individuals who have accumulated wealth through their own means, to do the opposite of what the common american is doing.  When most of the public is buying, there is a small group of individuals that are selling.  When the masses are selling in desperation and feeling like the sky is falling, there is an elite group that is buying and taking advantage of the opportunity.  This is the same 5% of society that has 95% of all the money in the world.  As a matter of fact most millionaires are made during a recession.

Our current Northville real estate market in Michigan provides opportunities that are being overlooked by many due to the emotional and financial pain associated with the…

It's nothing new among self made millionaires, and independently wealthy individuals who have accumulated wealth through their own means, to go against the common trend in society.  As a matter of fact most millionaires are made during a recession.

Our current Commerce Township real estate market in Michigan provides such opportunities that are being overlooked by many due to the emotional and financial pain associated with the decrease in value of their own homes.  For the past 20 years when Commerce Township home values were consistently appreciating every year, we all felt good about the market and homeowners wouldn't think twice about selling their home for a gain and buy a larger more expensive home.

But consider this example.  Lets turn back…

It's no secret among independently wealthy individuals who have accumulated wealth through their own means, or self-made millionaires to go against the common trend in society.  As a matter of fact most millionaires are made during a recession.

Our current Royal Oak real estate market in Michigan provides such opportunities that are being overlooked by many due to the emotional and financial pain associated with the decrease in value of their own homes.  For the past 20 years when home values were consistently appreciating every year, we all felt good about the market and homeowners wouldn't think twice about selling their home for a gain and buy a larger more expensive home.

But consider this example.  Lets turn back the clock five years and look at…