Buckley Jolley Client Appreciation Movie Day Was a Hit!

On Saturday morning March 31, 2007, over 200 friends and clients of The Buckley Jolley Real Estate Team gathered at Brighton’s MJR Theatres for Disney’s new film, Meet The Robinsons. The movie was shown in 3-D and was FREE to all attendees.

If you were there, thanks for being a part of this special day.

We appreciate the continued support that our clients have given us over the years. Our business is built on the kind words and referrals from the wonderful people we know. The Buckley Jolley Real Estate Team continues to grow because of our clients. Thank you!

Bill That Would Freeze Michigan Property Taxes For New Owners Comes To A Halt In The Senate

We have mentioned this bill a few times in other posts. After the Senate Finance Committee heard testimony from the MI Dept. of Treasury, it was concluded that the cost to local government was too high for the bill to pass. According to the Michigan Association of Realtors website, if passed, the bill would have cost local governments over 90 million dollars over the next 4 years. House bill 4441 that was tied in with 4440 is also dead. - Todd Buckley

2007 Livingston County Real Estate Report

Wondering where the real estate market is heading in 2007? To help forecast the future of the market in Livingston County, The Buckley Jolley Real Estate Team believes looking at trends and current statistics will provide a window to what is in store for 2007 and beyond.

The report has been designed to assist both sellers and buyers alike. Average sales prices in the county, new building permits and supply of homes are just a few of the items covered since 1998. This detailed booklet also lists sales, number of available homes in recent years, and professional predictions on the future of our real estate market.

This comprehensive look is available to you for download by clicking on the picture above.

Livingston County Continues To Grow

As reported in the Detroit News on March 22, 2007, Livingston County was one of few counties in the State of Michigan to see an increase in population between July 1st 05-July 1st ’06. In fact, Livingston County had the largest percentage increase, with 3,107 new residents in that time period (a 1.7% increase). On July 1, 2006, population in Livingston County totaled 184,511. Wayne County saw the largest number of population loss with 19,079. Overall, The State of Michigan only had a net loss of 0.1% in that year. A summary of the each county can be found at: http://www.detnews.com/graphics/2007/0321population.pdf

We’ve been saying for a while that Livingston County is the best place in Michigan to live. It looks like the numbers favor that opinion.

Buyers May See A Freeze on Property Taxes- Update

As I mentioned, municipalities were very concerned with Bill 4440. House Bill 4441 was introduced a day later and is tied in with the previous bill and would assist local governments with the loss in revenue from House Bill 4440. This bill would raise the transfer tax on any sale 0.1%. If passed, the transfer tax on a sale in Livingston County would be at a rate of .96%. For example, if a home sells for $250,000, the new transfer tax would be $2,400. Currently that tax would be $2,150. - Todd Buckley

March's Feature Property: 8857 Bonaventure

8857 Bonaventure Drive
Brighton, MI

$424,900

Built in 2003. 3196 square feet; with four bedrooms and two and a half baths.

This property is simply not to be missed. Located on a wooded lot in the beautiful Arbor Meadows subdivision, there will be no doubt in your mind why this house was a "Best in Class" Cavalcade of Homes award winner.

This home looks like it was completed yesterday, and has all the bells and whistles you've been looking for. It boasts gorgeous hickory floors, crown mouldings, Andersen "prairie" windows, intercom and security systems, in-house speakers and top of the line appliances.

Step outside and you will be overwhelmed by the exterior features. The fully landscaped lot includes a lovely garden feature of a stream with two waterfalls, accent lighting, a wooden bridge and wrap around deck. Look beyond to the Metro Park adjacent to your back yard.

Great Brighton Schools, and some of the best access to US 23 and I 96 in Livingston County, make this a great place to live.

For more specifics on this property, feel free to browse through the brochure:

http://www.buckleyjolley.com/docs/BonvenatureFullBrochureNov2006.pdf

If you are interested in previewing this home or any of our other exceptional listings, call us today at 810-229-7000. We'd be happy to provide you with more information.

Buyers May See A Freeze On Property Taxes

The Buckley Jolley Real Estate Team is continually following stories and legislation that impact our community and property owners. Here’s our latest development: On March 13, 2007 a bill was introduced in the State of Michigan House of Representatives that could help to reignite the housing market. If made law, House Bill No. 4440 would freeze a home’s taxable value after change in ownership for sales between March 1, 2007 and September 1, 2008. This could mean savings of hundreds to thousands of dollars every year for new homeowners.

As the Detroit News reported, the 18 month moratorium is intended to help both sellers and buyers move in this Buyer’s Market. Right now, when a home sells, the taxable value on the home becomes uncapped and the new owner’s taxable value increases to approximately half of the sales price. For every year after the sale, taxable values are currently capped to increase at the level of inflation or 5%, whichever is higher.

For example, if a homeowner purchased a home in 1990 for $100,000 the taxable value is now $92,500. The true value or State Equalized Value (SEV) is 125,000. The assessor believes the home to be worth $250,000 and then the property actually sells for $250,000. Assuming property tax rate of 22 mills, or $22/thousand, the previous owner’s tax bill would be about $2,035 per year. Under current law, the new buyer’s taxes would increase to about $2,750 per year, an increase of over $700 per year. If passed, Bill 4440 would allow the new buyers to assume the old taxable value and thus the old taxes of $2035 for that year.

As you can imagine, local municipalities are very concerned about loss in revenue from taxes if this law does pass. City and township services could be affected.

The Buckley Jolley Real Estate Team believes the positives outweigh the negatives of this bill. It was introduced by Democrats in the House and seems to have support on the other side of the aisle. Don’t all Michiganders feel the economy needs a boost? Traditionally real estate has given the necessary economic push in a down period. We think this bill is a step in the right direction to energize the market. We would hope that at the end of the 18 months, a plan to extend the freeze would be in place.

We’ll keep our eyes open and share any developments to this issue. We think that with or without this bill, Livingston County remains one of the greatest places in this country to live and raise a family. - Todd Buckley

Why Are We Different?

If you went around Southeast Michigan, you would be able to find many real estate agents working with local buyers and sellers. But, you would not find many teams like our team. After years of consulting, training and first-hand observation, my business partner Todd Buckley and I decided to team up to offer a better real estate experience for our clients. We knew that combining efforts, we could do a much better job on a lot of different levels.

First, we provide a wealth of knowledge and expertise by having specialists in each of the areas of real estate.

Second, we provide a better marketing system for our sellers by combining resources. Did you know that most advertising costs are paid by the individual agent and not the brokers? We advertise all our properties as a team. Our marketing is consistent and provides great coverage for our sellers.

Third, there is an exponential effect with a team. Can you imagine the difference between working with one agent vs. a team? We have a competitive edge working together. Many of us came from traditional brokerages. We know what it is like to work on our own even though we were surrounded by many other agents in the broker’s office. Just ask anyone on our team if they feel they were more effective working alone or as they are now working together. Personally, I like collaboration and seeing members on our team succeed at a high level.

Fourth, it is fun! We work together well. Enjoying your career is probably the first key to success. Could that be why we are selling more homes than last year, and more homes last year than the year before? It hasn’t hurt. Our team is positive, moving forward, and successful at getting the job done in a market that continues to decline. - Karen Jolley

Why a Blog?

Welcome to our new blog. We have so much to tell you!

Buying or selling your home is a big deal. In almost every aspect of your life, the better informed you are, the more you have an edge when making those big decisions. Do you have all the information you need?

When we list your home, we distinguish ourselves on the communication we provide- we give you prompt feedback on your showings, we keep in touch through mail, e-mail, and phone calls. Our priority is to keep you informed. In any type of real estate market your best bet is to have up-to-date information and statistics.

Consider this blog an extension of our communication to you. Whether you are a customer now, or will be in the future. We are committed to sharing what we know.

Here we will communicate trends, discuss hot topics, show you how we strengthen ourselves as a team, let you preview a few of our great properties for sale, and even bring some levity to this changing market … but most importantly where we are and where we are going. We think you'll be surprised.