Wednesday, October 12, 2011
Thursday, October 06, 2011
Economist to Realtors: Michigan's economy is better than you think
I was there.... front and center.... literally (See photo... that's the back of my head, up front). It's good to know that jobs are coming back to Michigan).
Economist Ted Jones delivered some good news at the annual convention of the Michigan Association of Realtors Friday.
“Your economy is better than you think,” said Jones, the chief economist with Texas-based Stewart Title Guaranty Company, speaking on the final day of the convention held at DeVos Place in Grand Rapids. READ MORE....
Wednesday, October 05, 2011
Gas Gauge Location?
Ok.... I know this is UNRELATED to Real Estate, but I thought this would be fun to post.
Did you know there was a DUMMY ARROW on your Gas Gauge, showing you what side your gas cap was on?
Wednesday, September 21, 2011
10 Square Acres in Harrison MI ~ SOLD!
Beautiful Square Ten Acres of Recreational Land!
SOLD!
10 Beautiful (Square) Rolling Acres in Clare County, south of Harrison. This property is 99% wooded with lots of Oak and Maple trees. This lovely property offers scenic rolling hills, privacy and good hunting. Located on a private road. Great location for hunting or camping.
771 Point Drive, Gladwin MI - Wiggins Lake - SOLD!
Cute Waterfront Home/Cottage on Wiggins Lake
3 Bedrooms, 1.5 Baths, 1.5 Car Garage
SOLD!
You'll enjoy watching beautiful sunsets from this nice waterfront home on Wiggins Lake. This home offers plenty of living space, with great views of the lake. Enjoy the nice sandy swimming beach in a quiet area of the lake. Watch a variety of ducks and other wildlife right out your front windows. Roast marshmellows over an open fire around the lake side fire pit. This property also has it's own concrete boat ramp and includes dock and boat lift. 
Monday, September 12, 2011
10 Beautiful Acres, Gladwin MI - SOLD!
Beautiful 10 Acres Near State Land and Secord Lake
SOLD!
You'll love this beautiful 10 acres with 465 ft of road frontage, making it a wider parcel. This property is loaded with mature trees and several pine trees that I bigger than what you can wrap your arms around. Located a short distance from state land. Also, located near Secord Lake and trails. Fantastic location for camping, hunting or building site.
Thursday, September 08, 2011
5 Ways to Fight a Low Appraisal
What do you do when the appraisal on the dream home you want to buy comes in below the price in the offer the seller has accepted—even as much as 10 to 20 percent below?Chances are that raising the cash for your down payment and closing cost has tapped you out. Finding thousands more to make up the difference between the appraised value and the contracted amount is out of the question.
READ ARTICLE HERE.....
NOTE: I found this to be an interesting article, being that I have personally run into issues with low appraisals this summer. More-so in the Harrison area, and not not so much in Gladwin. I had two low appraisals come in on two different waterfront cottages in the Harrison area, within one week! We disputed both appraisals, and didn't win either one. We got one appraiser to agree to update his, because new comparable solds became available right after his report was submitted. However the lender wouldn't change it's stance. The other appraiser flat out refused to update it.
In the end, both sales did close, but the buyers and sellers had to compromise in some way.... Both buyers ended up having to bring more money to closing and one seller had to drop their price to get the sale to go forward. In one case, there were multiple offers on the cottage. So, we knew the value was there.... just the timing was bad to find good sales camps.
Ivie
Wednesday, August 31, 2011
Fannie & Freddie New Language for Appraisals
The secondary market, (Fannie and Freddie) have adopted new language for their appraisals. It is called the Uniform Appraisal Data Set. FHA has not adopted the same format.
The adoption begins in September as optional and mandatory for applications taken beginning in December of this year. Some of the changes are:
Style of home: Presently used 1 story, 1.5 story, etc. Fannie and Freddie now want architectural nature as style; such as: Colonial, Victorian, Rambler, Contemporary, etc.
In addition there are new abbreviations for view and 6 different condition ratings (C1-C6) and 12 quality ratings (Q1-Q12) and every home is to have statements of either “not updated” or “updated” or “Remodeled” .
These underwriting changes affect all lenders, REALTORS® and appraisers. The MLS will have to be adjusted to accommodate these changes and the agents will need to know how to correctly determine the changes in style and the different ratings that will apply when taking listings.
Saturday, July 16, 2011
5045 Ruby, Gladwin MI - Island Lake SOLD!
You'll LOVE the View and Sandy Beach at the Island Lake Cottage!
2 Bedrooms, 1 Bath, 2 Car Garage
SOLD!
You'll enjoy the beautiful views and the sandy swimming beach at the cozy woodland, lake cottage on beautiful Island Lake. This cottage sits on a large lot with a nice 2 car garage. Watch loons and bald eagles from your enclosed porch or open deck, facing the lake. Let the kids play in the lake with the sandy lake bottom. Island lake offers good fishing and a leisure atmosphere on a no-gas-motors fishing lake. Island Lake also offer approx 230 acres of association shared land for walking, hunting and ATV's. Island Lake is also located just a very short distance from the designated snowmobile trails.
Wednesday, July 06, 2011
Re-Cap on the Michigan Transfer Tax Act
2008:
Exemption “t”, as designated in the Michigan Transfer Tax Act, sets forth that a seller may seek an exemption from paying the state transfer tax if the following criteria are met:
1. The property must have been occupied as a principle residence, classified as homestead property;
2. The property’s State Equalized Value (“SEV”) for the calendar year in which the transfer is made must be less than or equal to the property’s SEV for the calendar year in which the transferor acquired the property; and
3. The property cannot be transferred for consideration exceeding its true cash value for the year of the transfer.
With property values and corresponding SEV declining due to the struggling economy, home owners and real estate agents first took notice of the exemptions possible applicability under the State Transfer Tax. However, absent an official interpretation, there was little awareness of its proper application.
The opinion from the Attorney General uses examples to show how the application would apply. One example illustrating application provides:
If the SEV of the principle residence when acquired in 2006 is $74,000.00 and the SEV when transferred in 2008 is $72,000.00 then criteria one and two above are satisfied. You can establish the true cash value by doubling the SEV at the time of transfer. In this case the true cash value is $144,000. If the sale price in 2008 is $140,000.00 then the sale does not exceed its true cash value. All three criteria are satisfied and the exemption would apply.
The Attorney General’s opinion provides immediate relief to home sellers already faced with the reality of declining value on their single greatest asset.
Sellers should be cautioned that a request for the exemption that fails to meet all three criteria could bring a penalty equal to 20% of the tax assessed in addition to the tax due.
Additionally, no similar exemption exists in the County Real Estate Transfer Tax Act.
Attorney General Mike Cox issued an important opinion this week clarifying the proper application of an obscure exemption contained in the Michigan Transfer Tax Act. The opinion, arising out of a request from Representative Martin Griffin (D-Jackson), should afford certain home sellers immediate financial relief as Michigan’s real estate market continues its road to recovery.
Exemption “t”, as designated in the Michigan Transfer Tax Act, sets forth that a seller may seek an exemption from paying the state transfer tax if the following criteria are met:
1. The property must have been occupied as a principle residence, classified as homestead property;
2. The property’s State Equalized Value (“SEV”) for the calendar year in which the transfer is made must be less than or equal to the property’s SEV for the calendar year in which the transferor acquired the property; and
3. The property cannot be transferred for consideration exceeding its true cash value for the year of the transfer.
With property values and corresponding SEV declining due to the struggling economy, home owners and real estate agents first took notice of the exemptions possible applicability under the State Transfer Tax. However, absent an official interpretation, there was little awareness of its proper application.
The opinion from the Attorney General uses examples to show how the application would apply. One example illustrating application provides:
If the SEV of the principle residence when acquired in 2006 is $74,000.00 and the SEV when transferred in 2008 is $72,000.00 then criteria one and two above are satisfied. You can establish the true cash value by doubling the SEV at the time of transfer. In this case the true cash value is $144,000. If the sale price in 2008 is $140,000.00 then the sale does not exceed its true cash value. All three criteria are satisfied and the exemption would apply.
The Attorney General’s opinion provides immediate relief to home sellers already faced with the reality of declining value on their single greatest asset.
Sellers should be cautioned that a request for the exemption that fails to meet all three criteria could bring a penalty equal to 20% of the tax assessed in addition to the tax due.
Additionally, no similar exemption exists in the County Real Estate Transfer Tax Act.
Saturday, June 11, 2011
4236 Bay Dr, Gladwin MI - SOLD!
Nice Camping Lot with Well & Septic
SOLD!
Nice waterfront lot set up for camping with a well, septic and electric installed. Includes dock and storage shed. Bring your camper and enjoy summer fun at the lake. Possible Land Contract with preferred terms of: 20% down, at 6% int. for 5 years. (Sellers would consider selling the 2003, 32 foot Forest Wildwood Travel Trailer with 15 foot expando for an additional price. Inquire about travel trailer).
Thursday, June 02, 2011
40 acres Adjoining State Land - SOLD!
Unique Find! 40 acres Surrounded by State Land on ALL Sides!
SOLD!
Great hunting and camping parcel surrounded by thousands of acres of state land! Approximately half wooded. Some low areas and some high. Great hunting area with loads of ruffled grouse, deer, turkey and bear in the area. GPS recommended when walking property. Lines are not marked. (Suggest using Google map overlays for reference points).
(Mineral rights not included)
Monday, May 09, 2011
5175 Blue Lake, Gladwin MI - SOLD!
Super Cute 2 Bedroom, 1 Bath Cottage
Brand New Flowing Well Installed in July
Stunning View!
SOLD!
WOW! Look at this super cute waterfront cottage on beautiful BLUE LAKE! This charming cottage has been fully updated on the inside and sits on a gorgeous lot with a fantastic view of Blue Lake. This home offers the perfect setting for relaxing in nature. New flowing well was installed the last weekend of July 2010.
Monday, March 21, 2011
5289 Huntington Way, Gladwin MI - SOLD!
WOW! You'll Fall in Love with the Fabulous Home!
4+ Bedrooms, 3 Baths, 2 Car Garage
Located on Main Lake Lancelot!
SOLD!!! $299,515
Wow! You will fall in love with this fabulous home the moment you set in the door! This high quality Robert D Williams built home sits on a scenic lot on the north end of maim Lake Lancelot. Enjoy stunning sunrises and sunsets. This property features a sandy bottom swimming area, permanent suspended dock, fire pit area and great view. The house features a friendly floor plan, master suite with private master bath, full finished walkout basement with wet bar and 2-3 additional bedrooms in the walkout level, central air conditioning, gas log stone fireplace, cathedral ceilings, main floor laundry and so much more. This home is a "MUST SEE!" 
Thursday, March 10, 2011
5110 Evergreen, Alger MI - SOLD!
Waterfront Cottage on the Tittabawassee River
Leading to Secord Lake
3 BR, 1 Bath, Shed
SOLD!!!
Beautiful location on the Tittabawassee River leading to Secord Lake. 1000's of acres of state land directly across the water from the cottage! Enjoy boating, nature hikes, hunting opportunities and fishing in this great recreational area! This cottage needs TLC, but has lots of potential for a great price! Seller is offering possible short term LAND CONTRACT Terms. 
Thursday, February 17, 2011
Unraveling a Tangled Web – New Apps Create Pattern of Connections
RISMEDIA, February 17, 2011—(MCT)—It’s difficult for people to visualize all their connections with friends, family, classmates and colleagues—a Web of linkages that can reveal much about themselves and the people in their lives. Now social networks are making that easier to do.
New apps on LinkedIn and Facebook allow you, in a glance, to see the patterns of connections between you and everyone you have a tie to in that network who has agreed to create a mutual connection. Users will see a rich lattice of personal connections that, digitally illustrated, can resemble star clusters, multi-cell organisms or the airline route schedules in the back of in-flight magazines.
FHA Takes Steps to Bolster Capital Reserves
RISMEDIA, February 17, 2011—As part of ongoing efforts to strengthen the Federal Housing Administration’s (FHA) capital reserves, FHA Commissioner David H. Stevens announced a new premium structure for FHA-insured mortgage loans increasing its annual mortgage insurance premium (MIP) by a quarter of a percentage point (.25) on all 30- and 15-year loans. The upfront MIP will remain unchanged at 1.0%. This premium change was detailed in President Obama’s fiscal year 2012 budget, and will impact new loans insured by FHA on or after April 18, 2011.Monday, February 07, 2011
10567 Maple Valley Road, Gladwin MI - SOLD!
Approx 6 Acres with a Septic, well and Older Garage
Great building spot!
SOLD!
Nice 6 acres with an older garage, well & septic field. Property used to have an old mobile home on it. Well is only 5-7 years old. Has an extra septic by the garage that may be okay for limited use. Great camping spot within a few miles of state land and trails. Also a great place to build.
Saturday, February 05, 2011
Look up our web site using your cell phone!
Do you have an iPhone or an Android based cell phone? You can visit our Smart Phone Friendly Web Site by scanning this QR Code with any general QR Code Reader Application on your Smart Phone!
Friday, December 17, 2010
10 acres Fornier Road, Beaverton MI - SOLD!
Nice 10 acres across the street from State Land!
SOLD!
Great camping, building or hunting parcel located directly across the street from 1000s of acres of state land and close to ORV trails. Fantastic recreational property. Lots of deer, turkey, rabbits and grouse in the area. Electricity is already installed. The property is a mix of thickets and open areas, making a great location for hunting.
Lots of deer sign!
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