Northville Michigan Real Estate Agent - Commerce Township MI Real Estate

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 Watonga 4 2 2025 Tri-Level For Sale $165,000

2728 Orenda 3 2 1072 Ranch For Sale $169,900

2841 Red Arrow 3 1 ½ 2042 Tri-Level For Sale $189,900

8776 War Bonnet 3 1 ½ 2206 Split Level Pending Sale $160,900

8639 Buffalo 3 1 ½ 2121 Split Level SOLD(07’) $143,000

8616 Buckskin 3 1 ½ 1024 Ranch SOLD(07’) $153,500

8643 Palomino 3 1 1248 Ranch SOLD(07’) $160,000

2580 Red Arrow 4 2 1801 Tri-Level SOLD(07’) $163,000

8460 Buffalo 3 2 1710 Tri-Level SOLD(07’) $172,000

8695 Buffalo 4 2 1772 Tri-Level SOLD(07’) $174,000

8679 Buffalo 3 2 2000 Tri-Level SOLD(07’) $178,000

2841 Red Arrow 4 2 2042 Tri-Level SOLD(07’) $179,900

2777 Orenda 3 1 ½ 1625 Ranch SOLD(07’) $181,000

8423 Buffalo 3 2 1850 Tri-Level SOLD(07’) $181,000

2646 Pinto 3 1 ½ 1751 Tri-Level SOLD(07’) $183,000

8711 War Bonnet 4 1 ½ 2200 Cape Cod SOLD(07’) $199,900

8658 Buffalo 4 2 2253 Tri-Level SOLD(07’) $203,500

8459 Buffalo 4 3 2286 Tri-Level SOLD(08’) $180,000

2622 Watonga 3 1 ½ 1959 Split Level SOLD(08’) $170,500

2853 Red Arrow 6 2 ½ 1973 Split Level SOLD(08’) $125,000

AVERAGE ASKING PRICE OF THE HOMES ON THE MARKET $158,812

AVERAGE PRICE OF THE HOMES SOLD WAS $171,706

The Golf Manor Subdivision in Commerce Township is one of my favorite neighborhoods in Commerce Township. It's ideal for a first time home buyer because of the sidewalks, subdivision park, manicured lawns, and team spirit. Around Christmas there are holiday decorating contests, and ice cream socials in the summer. Architectural styles vary from tri-levels, ranches, colonials, cape cods, and bi-levels. Most homes are tri-levels with two car garages, although some homes only have a one car garage. Every home has a basement and at least partially brick. They range in square feet from 1000 to 2,500 on the bigger cape cods and tri-levels.

As you can see homes are still selling in the Golf Manor neighborhood. I personally sold 7 homes in the last 12 months in the subdivision. I am known as the neighborhood specialist. For more information on the Commerce Township Real Estate market or Commerce Township Homes For sale, feel free to visit my website. I have been a Commerce Township resident for over 30 years. You can also find all the latest bank owned homes or foreclosures in michigan.

Governor Granholm signed legislation enabling home sellers in Michigan to retain 2 principal 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 principal 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 property is not leased or available for lease
4. The property is not used for any business or commercial purposes

Retention of an existing homestead credit for an unoccupied home that is currently for sale would offer relief to sellers who have had to relocate for whatever reason. Click Here To Download The Form.

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.

To qualify for the conditional rescission in 2008, Form #4640 must be submitted to the assessor of the local unit of government where the property is located on or before May 1, 2008. The Board of Review has no authority with regard to a conditional rescission and cannot institute a conditional rescission on behalf of an owner if a deadline is missed or for previous tax years. An owner must annually submit Form #4640 on or before December 31 to verify to the assessor that the property for which the PRE is retained is not occupied, is for sale, is not leased, and is not used for any business or commercial purpose.

To search Northville homes for sale in the Northville Real Estate market or Commerce Township Homes For Sale, Novi MI Homes For Sale, West Bloomfield Homes For Sale, or Livonia Homes For Sale, feel free to visit my website at www.markzproperties.com

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 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 an average couple living in their first Commerce Township home having a value of $250,000. As their family grows, they need a larger home to accommodate their lifestyle. Usually they would move up to a home of approximately $400,000. In order to do so, they would have to invest an additional $150,000 in the form of a larger down payment and a larger mortgage.

Now I want to fast forward to the market we face today. That same family's existing home has declined in value from three years ago by approximately 30% to $175,000. Emotionally, that is a HUGE hit! But hold on, the new bigger home, the home of their dreams has also declined in value. Using the same percentage of decline, 30%, indicates that the move up home, is now worth $280,000.

The critical point here is that the difference in cash or mortgage debt required to accomplish this move has been reduced from $150,000 to $105,000! Financially, it is far easier for this couple to afford the home of their dreams in the Michigan's current market than it was five years ago, even when the loss in value on their current home is factored in.

If you are able to look beyond the current situation in Commerce Township and see opportunities which are overlooked by the majority, there is a window of opportunity that you may never see again. 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. Accept the loss on your current home, because all you are doing is moving equity from one home to the next.

Eventually the market will turn around, and what you really should be thinking about is where do you want to wait for the market to turn around, in your current home or the home of your dream? You'll be waiting somewhere, why not wait in the home you really want to be in?

I specialize in selling homes in the Detroit Metropolitan area. My office is in the Northville MI Real Estate market. I live in the Commerce Township MI Real Estate marketplace and sell a lot of homes there also.