Spring Events


There’s some winter left, but hopefully spring is on it’s way. Here are some things to do:

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Marc Has Been Named Best of HomeLight 2018

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Marc earned the Best of HomeLight Award in 2018 for being in the Top 1% of agents in the area.

Learn about Best of HomeLight

Top Producer Agent
Michigan
Oakland charter Township, MI
Orion charter Township, MI
Rochester, MI

Top Buyer's Agent
Oakland Township, MI
Orion Township, MI

Top Seller's Agent
Rochester, MI
Rochester Hills, MI

Top Negotiator Agent
Redford Township, MI
Orion Township, MI
Oakland Township, MI

Local Business Feature Take Sushi, 1366 Walton Blvd, Rochester Hills, MI 48309

Take Sushi, 1366 Walton Blvd, Rochester Hills, MI 48309

 

We recently had the pleasure of dining at Take Sushi in Rochester Hills.  We were impressed with the quality of food and the friendly service. Upon being seated were given hot towels (just like in Japan!) and menus.  We chose a selection of sushi and maki rolls – everything was delicious, but the Michigan Roll and Wasabe Yam Yam were standouts.  Take Sushi was recently featured on Eater Detroit’s list as one of the 12 Freshest Sushi Restaurants in the metro area, which noted their extensive selection of sushi, sashimi, and maki.  I have to agree, and look forward to returning soon.  The ambience is very nice, and has a very authentic Japanese feeling.   If you go, be aware that it does get busy…we arrived shortly after opening, and within a short time there was a wait for tables.  If you’re like us and you sometimes prefer to dine at home, they do offer carryout and delivery via Doordash.   

Take Sushi website is here.

The growing hotel scene in Detroit

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The recent opening of The Shinola Hotelis just the latest example of how the hotel scene has expanded in Detroit.  It joins several other design-forward, boutique hotels that have opened over the last year or so, such as the Detroit Foundation HotelThe Element at the Metropolitan Building, and the Siren Hotel.  The Lonely Planet guide ranked Detroit as one of the top destinations in the world last year, and now tourists have a lot of great places to stay. Every time I go downtown, I’m amazed at the amount of construction and how much the city has changed.  
 
If you’re thinking of booking a weekend stay downtown, or know someone who's coming to visit, you might want to check out this guide from Curbed Detroit.

It's still a seller's market

It’s still a seller’s market

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Although market conditions vary by neighborhood and price range, we continue to be in a seller’s market overall.  The main driver is a lack of supply, with the inventory of available homes continuing to trend down - especially for homes in more affordable price ranges.  The trend of appreciating home values also continues, with average sales prices in the metro Detroit area up about 5.3% from last year. 

That said, there are some signs the market might be cooling off a bit.  According to the latest report from the Mortgage Bankers Association, applications for new mortgages are down about 6.1%, which is the 4th consecutive week of declines.  So far, this has not had any measurable impact on the housing market in our area. 

We may see some softening of buyer demand as the year progresses, but it’s unlikely the market will shift dramatically.  That’s because interest rates remain low at an average of 4.65% for a 30-year fixed loan, and most lenders I’ve talked with do not expect a major increase this year.  This should keep buyers in the market and competing for the limited inventory.

Did you buy or sell a home in 2018?

Did you buy or sell a home in 2018?

If you purchased a home in 2018, certain closing costs may be deducted if you itemize your deductions.  These include mortgage interest and certain property taxes.  If you sold a home, the sale may have been reported to the IRS, depending on specific criteria including how long you lived in the home, whether it was your principle residence, and whether any portion of the home was used for rental or business. 

It’s best to consult your tax advisor or tax preparer with any questions about your individual situation.  If you closed on a sale or purchase in 2018, you should have a received a copy of your settlement statement from me with all of your closing costs and net proceeds.  If you have questions or need a copy of your statement, just give me a call.

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Appealing your property taxes.

 

If you disagree with your property tax bill, it’s important to know that you can appeal.  To understand whether or not that would be a good idea, it helps to understand how property taxes are calculated and how the appeal process works. 

Until 1994, property taxes were calculated based on the assessed value, but since the passage of Proposal A, taxes are based on the taxable value.  This limits the annual increase to no more than 5%, or the rate of inflation according to the Consumer Price Index, whichever is lower.  However, changes in ownership or property improvements can increase the taxable value beyond the 5% limit.

If you suspect errors in your property tax bill, you may want to appeal.  Depending on the city, the deadline is typically some time in March.  If you choose to appeal, the first step is to check public records for your property.  It’s possible that there may be a mistake – such as incorrect bedroom count or square footage.  In this case, a correction can be made on the spot and your assessment may be reduced.  If the records are correct, and you still want to pursue the matter further, the next step is to appeal to the Board of Review.  If you choose to file with the Board of Review, you will want to have evidence to back up your claims, such as comparable sales or a professional appraisal. 

If you are unsuccessful, you still have the option to proceed to the Michigan Tax Tribunal.  As with the Board of Review, you will want to have evidence to support your claims.  One thing to consider there is a small risk that the assessor may notice something during the review that may cause them to actually raise the bill.

 

If you have questions about your tax bill, feel free to give me a call at (248)509-4531