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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…

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 Michigan real estate market 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 an…

There is no way to sugar coat what is going on with the real estate market and home prices in general in the Detroit Metro area.  This update is specific to the Plymouth Michigan Real Estate market.  The number of homes sold in the city of Plymouth and Plymouth Township, so far in 2008 (37 homes sold) is relatively the same compared to 2007 (40 homes sold) through the end of February.  However the average sales price sold in 2008 ($224,779) has fallen 24% compared to the average sales price in 2007 (293,842).  In 2007 the highest price home sold through February was $610,000 and in 2008 the highest price home sold in the city of Plymouth and Plymouth Township was $478,000.  The average price per square foot of all the homes sold in 2008 year to date is…