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Connie Kroll's Blog

Connie Kroll

Blog

Displaying blog entries 1-10 of 22

Home Staging Hints

by Connie Kroll

Wondering about how to competitively stage your home:  Where to start, what to focus on??  Here are a few helpful tips to bring out the best in your property!
 

Top 5 Tips for Home Staging

  1. Focus on the kitchen and bathrooms. These rooms have a lot to do with the resale value of your home - and prospective buyers will pay special attention to them.
  2. Consider the optimal use for extra rooms. Your sewing room or fitness center may not work for someone else. Create common spaces like extra bedrooms and home offices to help prospective buyers better visualize themselves in your home.
  3. Help prospective buyers imagine themselves in your home.
  4. Don't forget the exterior. Home staging is not just about the indoors - creating a home with curb appeal gives potential buyers their first impression.
  5. Create a welcoming entryway. Add a new welcome mat and clean the front door and nearby windows and trim - these simple staging tips can make your home feel friendly and welcoming.


     

Source: PODS Enterprises, Inc.,  www.pods.com/

Looking Back at 2013 Traverse Area Real Estate Sales

by Connie Kroll

Below you will find information regarding total sales in our five county region for 2013 as reported by the Traverse Area Association of Realtors.  Looking it over will give you great insight into our local market trends and status!

Interest Rates Update

by Connie Kroll

 
 
Today’s rates are out and they are as follows:
 
30 year fixed 4.25%
20 year fixed 4.125%
15 year fixed 3.25%
 
While we have seen a slight tick upward with interest rates, it is anticipated that
they will remain mostly flat through the end of the year.  If you are considering
buying, there is still time to take advantage of these great rates.  Call or email
me to discuss!
 
 
 
Source: Lake Michigan Credit Union
 

Property Tax Exemption, 100% Disabled Veterans Law signed

by Connie Kroll

Below you will find information regarding new legislation on property taxes for disabled veterans.  Be sure to pass this along to anyone you know who may benefit!

Gov. Snyder signed into effect SB 352 / ASSIGNED PA 0161'13 on Tuesday 11/12/13.  PA 0161'13 exempts veterans paid at the 100% disability rate from Homestead Property Taxes.  A affidavit form will be created to be filed with your local tax authority.  Below is the link to the new article and a copy of the bill.


http://www.michigan.gov/snyder/0,4668,7-277--316325--,00.html

11/13/2013

Expected in
    SJ 95

    APPROVED BY GOVERNOR 11/12/2013 @ 3:40 PM                        

11/13/2013    

Expected in 
SJ 95

    FILED WITH SECRETARY OF STATE 11/12/2013 @ 4:05 PM

11/13/2013

Expected in
SJ 95

    ASSIGNED PA 0161'13 WITH IMMEDIATE EFFECT

 

DISABLED VET HOMESTEAD EXEMPTION                                                           S.B. 352:

                                                                                                      FLOOR SUMMARY

 

CONTENT

The bill would amend the General Property Tax Act to exempt from the collection of taxes real property used and owned as a homestead by a disabled veteran who was discharged from the Armed Forces of the United States under honorable conditions.  The bill would define "disabled veteran" as a person who meets all of the following criteria:

 --    Is a resident of this State.

 --    Has been determined by the U.S. Department of Veterans Affairs (USDVA) to be permanently and totally disabled as a result of military service and entitled to veterans' benefits at the 100% rate.

 --    Has been rated by the USDVA as individually unemployable.

This would replace a current exemption for the homestead of a soldier or sailor who was discharged under honorable conditions with a service-connected disability, and who has a certificate from the U.S. Veterans' Administration, certifying that he or she is receiving or has received pecuniary assistance due to disability for specially adapted housing.

If a soldier or sailor entitled to the current exemption dies, the exemption continues for his or her unremarried surviving spouse, as long as he or she remains unremarried.  Under the bill, if a disabled veteran who was otherwise eligible for the proposed exemption died before or after it was granted, the exemption would remain available to or continue for the veteran's unremarried surviving spouse, as long as he or she remained unremarried.

The bill generally would retain the process for a disabled veteran to claim the exemption, which requires an affidavit to be filed with the supervisor or other assessing officer.  As currently provided, each local unit would bear the loss of its portion of the taxes upon which the exemption had been granted.

MCL 211.7b                                                               Legislative Analyst:  Suzanne Lowe

FISCAL IMPACT

The bill would reduce local property tax revenue by an unknown amount, depending on the number of individuals who would seek the exemption and the specific characteristics of any property affected by the bill.

Michigan has approximately 82,300 veterans with a service-connected disability, of whom an estimated 8,000 are rated as 100% disabled.  The number of disabled veterans who own their home or other property that is taxed under the General Property Tax Act is unknown, as is the number of disabled veterans who are rated as individually unemployable. 

However, if all disabled veterans rated at 100% disabled were approved for an exemption, the bill is estimated to reduce local unit revenue by approximately $9.4 million per year.  If 10% of these disabled veterans were approved for the exemption, the bill would reduce local unit revenue by approximately $0.9 million per year.  State revenue would unlikely be affected by the bill because the State Education Tax is levied by a separate act.  The only potential impact on State revenue would be from property taxed under other provisions of the General Property Tax Act.

The bill's exemption would affect all taxes levied under the General Property Tax Act by all taxing authorities, not just the local tax collecting authority with which the taxpayer filed the affidavit.  Local units would not have the ability to opt out of the exemption and acceptance of a proper affidavit would be compulsory.  Once accepted, the exemption would affect property taxes levied by a wide variety of entities, including the local city or township, as well as levies from the county, library or transit authorities, and any other authority that assessed a tax under the Act.

The bill could increase State revenue by an unknown amount.  Under the individual income tax, the State offers credits against property taxes, both through the homestead credit for veterans and blind people and the regular homestead property tax credit.  To the extent that taxpayers pay less in property taxes, they are less likely to qualify for the credit or will qualify for a smaller credit.  Any reduction in property tax credits would increase General Fund revenue.  Similarly, to the extent that affected taxpayers itemized their deductions under the Federal income tax, the bill would reduce their deductions and potentially increase their Federal liability.

Date Completed:  5-21-13                                                         Fiscal Analyst:  David Zin

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.

 


Source:
G. Michael Dickinson  US Army Disabled/Retired
DAV Chapter 38 Service Officer
Patriot Guard Riders Northern Michigan Regional Ride Captain
231-729-0669    http://www.justavet.us  michael@justavet.us

Happy Earth Day!

by Connie Kroll

Green Home Improvement

by Connie Kroll

Local Weekly Market Statistics

by Connie Kroll

 

Weekly Market Statistics

 

       03/11/2013 thru 03/17/2013

250 New Listings

68  Sold Listings

320 Pending 

 

Sales By Classification

56 Residential $700 (Lease) to $625,000 Median $86,200 Mean $121,184

9   Vacant Land $10,000 to $350,000 Median $20,000 Mean $65,966

3   Commercial $1800 Lease to $131,500

 

 

Sales by Location

06 Antrim County

04 Benzie County

14 Grand Traverse County

03 Kalkaska County

06 Leelanau County

00 Wexford County

35 Outside Areas

 

Expired Listings    70

 

Year over Year Comparison for Grand Traverse County on & off water homes

 

Off Water Homes All Values 

 Current Listings        482

 Sales                         03/12 to 03/13  1,022  03/11 to 03/12  818

 Average DOM            143 or 4.8 Months

 Value Direction          Up 8.8%

 Market Activity           Up 24.9% 

 Inventory Supply        5.7 Months

 

Direct Water Homes All Values

 Current Listings       159

 Sales                        03/12 to 03/13  175  03/11 to 03/12  141

 Average DOM           206 or 6.9 Months

         Value Direction         Even

         Market Activity          Up 24.1%

         Inventory Supply      10.9 Months  

This week the MLS system became a regional MLS system, thus the total numbers cover a much broader area IE: 33 sales locally and 35 sales in areas such as Clare and other mid Michigan counties. There seems to be some anxiety in the market, time will tell if the increasing trends will continue or stall out. All projections are for a continued rise and this stall may be weather related with a late winter weather stalling activity.

 

"The diamond cannot be polished without friction, nor the man perfected without trials" Chinese Proverb

Source: Robert Reamer, local appraiser

Local Weekly Market Statistics

by Connie Kroll

Weekly Market Statistics

 

       03/04/2013 thru 03/10/2013

129 New Listings

40  Sold Listings

253 Pending 

 

Sales By Classification

33 Residential $23,000 to $650,000 Median $165,000 Mean $187,982

5   Vacant Land $5,000 to $325,925 Median $72,000 Mean $101,985

2   Commercial $195,000 to $213,500

 

 

Sales by Location

09 Antrim County

04 Benzie County

14 Grand Traverse County

02 Kalkaska County

09 Leelanau County

01 Wexford County

01 Outside Areas

 

Expired Listings    21

 

Year over Year Comparison for Grand Traverse County on & off water homes

 

Off Water Homes All Values 

 Current Listings        491

 Sales                         03/12 to 03/13  1,016  03/11 to 03/12  818

 Average DOM            143 or 4.8 Months

 Value Direction          Up 8.4%

 Market Activity           Up 24.2% 

 Inventory Supply        5.8 Months

 

Direct Water Homes All Values

 Current Listings       158

 Sales                        03/12 to 03/13  175  03/11 to 03/12  141

 Average DOM           206 or 6.9 Months

         Value Direction         Even

         Market Activity          Up 24.1%

         Inventory Supply      10.6 Months  

The market stumbles with on 40 sales last week, not uncommon as we enter the spring and summer selling season.

Source: Robert Reamer, local appraiser

 

March Maintenance

by Connie Kroll

Welcome to March!

With Spring just round the corner here are a few things to think about doing around the house to be prepared and keep up on general maintenance.

 

Open House This Weekend!

by Connie Kroll

An Open House will be held this Sunday, 12/9  from 12-3pm

 

340 Rogers Rd, Traverse City.

3 Bedrooms 2 Bathrooms
Extremely well maintained
1.26 acres
Open
floor plan
Finished
walk-out lower level
New
appliances 

$169,900

MLS:1739675

 

From M 31 go right on S. Long Lake approx. 2 miles, right on Rogers Rd.

Displaying blog entries 1-10 of 22

Contact Information

Photo of Connie Kroll Real Estate
Connie Kroll
Century 21 Northland
241 E State Street
Traverse City MI 49684
Office: 231-929-7900
Cell: 231-620-3395
Fax: Fax: 929-2780