Gary Smith, Realtor®

Updated January 25, 2008

According to Andrew Sawmiller in the January 23, 2008 edition of The Spinal Column weekly for the Lakes Area of western Oakland County "Lakes Area" assessed property values decreased by an average of single digits in 2008. According to the article, "only two communities in Oakland County did not have a decrease in property value...."  (Look under Archives January 23, 2008 for the entire article after the week of January 21 - 26, 2008)

The following local communities were highlighted in Andrew's article Residential property values declining across western Oakland County

• Commerce and Wolverine Lake property owners will see an average drop of 5.27 percent in their residential property values.

• Milford's average residential property assessment values fell by 2.55 percent in the last year.

• Orchard Lake homeowners may see an unprecedented decrease in their property's assessed value. Sailer said he expects to see a decrease of about 2 percent on average.

• Walled Lake is expected to see an average decrease in residential property assessments of about 7 percent this year, which is one of the largest decreases in Oakland County.

• Waterford Average assessed residential property values have decreased 5.84 percent in Waterford Township during the last year.

• West Bloomfield Homeowners in West Bloomfield will see an average drop in the property assessment of 4.76 percent.

• White Lake property owners are slated to see an average decline of 6.28 in property values.

 I encourage you to read Andrew Sawmillers entire article above.

Why your taxes may not decrease!

Although State Equalized Values (SEV) for Oakland County may decrease an average of 5 percent, property taxes for long time homeowners may actually increase due to Proposal "A" . More information is available on 2008 Oakland County Property Taxes and Proposal A in this Oakland County Equalization Department will have all of 2008 assessed values shortly. Look for all information to be available on the Oakland County Equalization website shortly. If you have questions about Oakland County property taxes and equalization please read this 2008 Proposal A Pamphlet . More information is available in this Oakland County Guide to Property Taxes and Proposal A

Typically, property assessments are mailed the middle of February to homeowners. With your notice, will be information about determining State Equalized Values, your assessed values, and your properties Taxable Value.  Each homeowner has the opportunity to dispute any property tax increase to their local government in March and to the Michigan State Tax Tribunal later in the year. More information is available from your local government.

NEW JANUARY 25, 2008  Detroit News Interactive Assessment search for Livingston County, Oakland County, Macomb County, and Wayne County. Values will change by school district. Final results will be mailed to property owners.  More information about taxes increasing is available in their article Assessments Fall Taxes May Rise

Usually there are long lines at local government offices prior to the dispute period. If you would like to save yourself some time. Legal owners of property in most of southeastern Michigan can email me and request a brief search of recent sales in their subdivision or area. We will need the following information to search online for recent activity:

• Your name (must be a legal owner)
• Property address
• 2008 State Equalized Value of your home
• 2008 Taxable Value of your home
• A statement allowing your permission to have a real estate professional review your information and email you recent comparable sales.

You will occasionally receive updates from this website. Unsubscribe at any time.

Search for homes in Oakland County Michigan and surrounding areas on http://www.mi-living.com/

Global warming?...El Nina?...Year ending with an "8"...what ever! I should not be able to fish from the end of my dock on January 9, 2008. Nope, I did not have to chop a hole or even skim ice. Just baited the hook with a couple of wax worms, drop it into the water, and pull out Blue Gill.

November 2007 Oakland County (Pontiac) Temperatures
This has been a very unusual winter in southeastern Michigan. From the middle of November through the middle of December, we actually had snow on the ground. Then just before Christmas, temperatures began to moderate and most of the snow melted.
December 2007 Oakland County (Pontiac) Temperatures

The middle of January is normally southeastern Michigan's coldest month with an average high temperature of only 25 degrees F. The last 5 days have been in the mid 50's to low 60's with about 2 inches of rain.
That was after more than 13 inches January 2008 Oakland County (Pontiac) Temperatures
of snow the weekend before.

If you're considering moving to southeastern Michigan, Oakland County, my neighborhood in White Lake Twp, or anywhere in North America, take a moment to review temperature, wind, and precipitation history on http://weatherunderground.com. Their history goes back to 1996 and includes daily, weekly, monthly, or custom histories up to a year in length.

For all you ice fishermen, ice conditions are definately unsafe throught southeastern Michigan. More up to date information about fishing and ice conditions throughout Michigan is available on the State of Michigan Department of Natural Resources Weekly Fishing Report.

Preliminary numbers for residential homes sold in Oakland County Michigan indicate a slight increase in sales during 2007. According to my search of all residential homes sold by Realtors® (based upon all homes listed and sold by all real estate companies and recorded on Realcomp II Ltd as of January 8, 2008)

During 2007 there were 10328 homes sold as compared to 9991 homes sold during 2006. Median sale prices decreased almost 10 percent in relation to 2006. Most value decreases were caused by the glut of foreclosure homes on the market.

Complete information from all Multiple Listing Services, for the first 10 months of 2007, is available at http://mirealtors.com/ by searching under Housing Statistics on the left side or top menu of the page.

Totals above do not include private sales of residential homes. Information that is more complete will be available from Oakland County Public Records shortly.

Looking for specific information on your home? An online Home Evaluation will provide information on similar sales in your information. Local information provides the best indicator of value, or value decrease in this market.

Searching for homes in southeastern Michigan? Basic and Advanced Search of homes on the Internet Data Exchange (IDX) Look for the logo to search the Multiple Listing Service.

Commerce Township Michigan 2007 Home Sales

Average Days on Market 143 Days

** Information based upon a search of Commerce Twp on Realcomp II LTD Multiple Listing Service, January 6, 2008. Information from all homes listed and sold by all real estate companies. Corrected 1/8/2007

Breaking down home sales for 2007 within Commerce and Commerce Twp Michigan: Of these sales 216 homes were not lakefront properties. Many homes in Commerce have lake privileges. 83 homes were waterfront homes which were those homes having property frontage bordering a lake, canal, or river. 62 of these homes were on area All-sport or those not having a no wake or no motorized watercraft designation with the State of Michigan. The remaining 21 homes were located on non all-sport waters.

Lakefront home sales increased as compared to 2006 home sales in Commerce and Commerce Twp Michigan. In 2006, there were 303 home sales total but only 39 waterfront home sales. Of the 39 waterfront home sales in 2006, 29 were located on all sport lakes.

Foreclosure and Short Sale Properties: These are relatively new fields so the numbers may be higher than indicated. In the last half of 2007 only 37 homes were indicated as foreclosure, short sale homes (deed in lieu), or corporate owned. Additional homes might be available searching listing agents remarks.

Currently, there are 361 homes for sale below $800,000 in Commerce and Commerce Twp (excluding Walled Lake and Wolverine Lake Village) (369 homes total) Although homes sold indicated an average of 160 Days on Market, market absorbency is a better indication how long it would take for all homes to sell if no additional homes entered the market. 299 homes selling during the past year, and 361 homes currently for sale, the market absorbency for the area is 14.5 months. Any value above 6 months is considered a Buyers Market.

Thinking of selling or purchasing a home in southeastern Michigan? No sign in search is available at
http://www.Mi-Living.com. Information about foreclosures and short sale homes is available by email upon request.

Looking for something to do or considering moving to White Lake Township, Michigan? Our Public Library may not rival those in the City of Detroit, but they offer a tremendous number of services to people in the community. Below are just 8 reasons why you should visit the White Lake Township Public Library this year.

• Museum Adventure Pass: In cooperation with 162 metro Detroit area libraries, Macy's, members of the Cultural Alliance of Southeastern Michigan and the White Lake Township Public Library, active members can get FREE passes to several local museums, cultural centers, and historical sites. Some places allow two free passes while others allow up to four people. Some of the big players include The Detroit Institute of Arts (DIA), Cranbrook Art Museum, Motown Historical Museum, and the Dossin Great Lakes Museum. More information, website links, and a complete list of FREE pass sites is available at The White Lake Township Public Library website or by visiting the library at 7527 E. Highland Rd, White Lake, MI. 48383
  
  
  

• Winter Story Times: For approximately 30 minutes, your preschool age children can be entertained with story, songs, finger plays, and a craft. Pre-registration is required and space is limited for the weekly sessions. Toddlers (ages 2-3) story times are Tuesdays at 10:30 and 11:30 am or Wednesday at 11:30 am. Pre-school (ages 3-5) can listen on Tuesdays at 1:30 pm or Wednesdays at 10:30 am and 1:30 pm. Contact the White Lake Township Public Library at (248) 698-4942 ext 2 for additional information and registration. Times subject to change.
  

• Special Events: Several craft and informational days are scheduled throughout the year at the White Lake Public Library. These include Lego Contests, Family Fun Night, Child Safety Seats, Book Club for Kids, and much more. Contact the White Lake Public Library for more information at (248) 698-4942 or visit http://www.whitelakelibrary.org/
  

• Teen Advisory Board: Would you like to have a say in the activities available for teenagers in the White Lake Public Library? If you are between the ages of 12-18, please call 248.698.4942 ext 2 and ask how you can be involved. This is a great way to begin networking for your future business.
  

• Did You Know the White Lake Public Library is a WiFi Hot Spot? Not only that, but they are in the process of upgrading computers, some software, and the ability to upload and download your projects on some computers. Why purchase a computer when you can make use of this valuable resource. For more information about becoming a member of the White Lake Public Library, please call (248) 698-4942.
  

• Monthly Book Discussion Group: Read and discuss a new book every month. Discussions are held one Tuesday a month. For a schedule of upcoming books and discussion dates please visit http://www.whitelakelibrary.org/ or call the library at 248.698.4942.
  

• Art at the Library: Would you like to have your artwork displayed at the White Lake Public Library? Please call 248.698.4942 ext 2 to present your proposal for display.

• Your Contributions are Tax Deductible: If you are interested in making a contribution, donation, or gifting to the White Lake Public Library. They suggest you contact the Library Director at 248.698.4942 ext 7
  

Thinking of moving to White Lake Township? The area is centrally located to major freeways, shopping centers, skiing, golf, numerous lakes, parks and recreation centers. For a partial list of businesses and their locations please virtually visit White Lake Township Area. (please click on expand all above left column to see more businesses.) Map will adjust to any location in the US.

Search for homes for sale in White Lake, Commerce, Milford, Novi, Pontiac, Detroit, Saginaw, Port Huron, Flint, Brighton, Ann Arbor, and surrounding areas. Homes are provided through Realcomp Multiple Listing Service Internet Data Exchange (IDX) no sign up required. Remember, Michigan Law requires ALL real estate professionals to work for the benefit of home sellers unless you have a signed Buyers Agency Agreement. Click on email me to request a sample copy.

Gary Smith, The Michigan Group -Livingston 810.844.2321 or 810.227.4600