The Livingston Arts Council will host a new winter concert series, the Acoustic Café, every Friday night in February from 8-11pm at The Opera House in downtown Howell.
The events are a fundraiser for The Opera House, so come and enjoy some great performances and support a good cause.
The entry fee is $5 per person; light refreshments will be served.
February 1st: Michigan’s Troubadour, Neil Woodward
February 8th: “Acoustic Jim” Fugit
February 15th: enjoy Kurt Krinkle and 2005 Livingston Sensation winner, Tanya Komblevitz February 22nd: jazz keyboardist Johnny Dunn
A homeowner may be exempt from paying property taxes if their income and assets fall within guidelines for an exemption on the federal or local level. The income and assets cannot exceed the federal poverty guidelines established by the U.S. Department of Health and Human Services. To find out more go to http://www.michigantownships.org/povertyexempt.asp
To apply for this exemption, requests must:
File a claim on the proper form
Provide documentation of federal and state tax returns and other tax information
Provide valid identification
Provide evidence of ownership
Your local taxing authority should be able to assist you. Deadlines for submission of the exemption request fall in line with the local board of review meetings. Call your township to find out the deadlines and specific requirements.
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Don’t believe the hype. While negative reports of a “housing slump” sell newspapers and get television news ratings, positive stories about buyers are being overlooked. Home purchasers should realize that price is only one factor buyers should consider in determining the right time to buy.
Buyers are enjoying low interest rates, a high selection of homes, and affordable prices. Have prices hit bottom? Probably not. But that shouldn’t matter for most that plan on living in their next home for more than a few years. Let’s look at a few factually based scenarios for a home buyer for the same home:
November 1999
Sale price $200,000
30 year fixed, 90% loan - $190,000 loan amount
Interest rate 8% = Principal & interest payment of $1,394
939 homes on the market in Livingston County at that point to choose from
January 2005
Sale price $250,000
30 year fixed, 90% loan - $225,000 loan amount
Interest rate 6.625% = Principal & interest payment of $1,441
2350 homes on the market in Livingston County at that point to choose from
November 2007
Sale price $190,000
30 year fixed, 90% loan - $171,000 loan amount
Interest rate 6.75% = Principal & interest payment of $1,109
3081 homes on the market in Livingston County at that point to choose from
January 2008
Sale price $187,000
30 year fixed, 90% loan - $168,300 loan amount
Interest rate 5.75% = Principal & interest payment of $982
2901 homes on the market in Livingston County at that point to choose from
If forecasters for interest rates are correct, July 2008 could look like this:
Sale price $182,000
30 year fixed, 90% loan - $163,800 loan amount
Interest rate 6.50% = Principal & interest payment of $1,036
3000 homes on the market in Livingston County at that point to choose from
As you can see the same home now vs. 6 months from now could mean $54 less on your monthly payment. Look at January 2008 vs. November 1999…There are three times more homes to choose from and interest rates are 2.25 points better now! Let’s face it, this may be the best time ever to purchase real estate in our area.
Please call us for a FREE consultation about your possible home purchase at 810.229.7000.
As the economy slows down and things in Michigan get a little tighter there is an ever more urgent need for help in our community. If you are unable to donate money why not donate some of your time instead and help those who really need it.
To find numerous volunteer opportunities you can go to the Livingston County United Way web site and read through the list of needs.
Also visit the Livingston County Habitat for Humanity web site for further opportunities to help.
- Sara Hufnagle, Lead Coordinator, The Buckley Jolley Real Estate Team
Livingston Reads is a program designed to promote one-book-one-community reading. Six Livingston County libraries will participate in this year's Livingston Reads program: Pinckney Community Public Library, Brighton District Library, Howell Carnegie District Library, Hamburg Township Library, Cromaine District Library and Fowlerville District Library.
If you are a parent in Livingston County, you are probably very familiar with the Southeastern Livingston County Recreation Authority or SELCRA. SELCRA offers recreation and sports programs for a wide variety of ages, including adults.
SELCRA's spring & summer leagues are now forming. They offer lacrosse, basketball, baseball, softball, golf, volleyball & flag football for boys & girls. The deadline for registration varies; call them today at 810-299-4140 or visit their website.
The Howell Nature Center will host a Groundhog’s Day Celebration and Pancake Breakfast on Saturday, February 2nd. Come watch Woody the Groundhog give her 10th prediction on how long winter will last. Tickets are $8 an adult and $6 for children (under 2 are free). For reservations or more information call 517-546-0249.
Karen & Todd send our sellers an update on market conditions every two weeks. Here is an excerpt of that e-mail.
Now more than ever, everyone is asking, “What’s going on with the market?” The answer is not as short as the question.
In summary, my answer is that values continue to dip in our market, and there are signs that homes may not depreciate as much in ’08 as they did in ’06 & ’07. Notice I said that homes should still depreciate, but not at the same rate. The number of listings on the market along with the number of sales is leveling off. However, this does not mean prices are leveling off.
The average Time Supply of Inventory in our market has been climbing since 1999. Time Supply of Inventory looks at the current supply of homes on the market and compares it with the current rate of sales. Ultimately, we want to know how long it would take to sell that inventory. At the end of ’99, we had an average of 4.6 months of inventory on the market. It’s no surprise that we saw somewhere around 10% appreciation that year. From ’01-’03 the average was 7.3-7.7. During this time we witnessed 1-4% appreciation. At the end of ’04, there was 8.7 months of supply. This is the point in which most Realtors believe homes started depreciating. Right now we have nearly 20 months of supply on the market. The graph below shows this data. 
So what does all this mean? I believe the Time Supply of Inventory will need to be around 8 months again before prices level off. We have a long way to go. If there is say, 11 or 12 months of supply on the market there will still be depreciation, just not as high as we are seeing currently. Instead of 10-20% depreciation we might only be seeing 3-5%. The point is the market needs a combination of fewer homes on the market and more sales to decrease the time supply of inventory. In the meantime, we are racing to sell your home before it depreciates more.
Now are we giving the same answer to the “How’s the market?” question to potential buyers? Absolutely NOT! We are telling them the truth on the buyer’s side:
* A high number of homes to choose from
* Low interest rates
* Low prices
These factors make this an ideal time to buy.
If in the near future:
* Interest rates climb at a higher rate than the rate of deprecation
* Inventory levels (choices of homes) drop
Then today might just be the best time to buy in history!
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NAR, the National Association of Realtors, has lauded the Federal Reserves Board's rate cut to 3.50 yesterday. The cut is expected to lower mortgage rates and ease the weight of re-setting adjustable loans.
For more information, you can view the statement in it's entirety at:
NAR Commends Federal Reserve Board on Timely Interest Rate Cut
After completing a transaction with our clients, we always request they complete a "Client Satisfaction Survey" so that we can learn a little bit about how they feel about the service we provided. We value the insights from our past customers, and are glad to share a few we have received in the last month with you here.
"(Communication) was excellent! We always kept each other in the loop... I will definitely (recommend The Buckley Jolley Real Estate Team) to anyone that's buying a home. The way the team is set up is great to make sure focus is on the client... Kimberlee did wonderful! She is great and was always looking out for our needs and wants... Thank you so much for all your help!" -Ashley B. & Barry C.
"Andrea and Emily were awesome! They went out of their way to help me, I had a great first house experience!... Thank you! You were great to work with." -Corri P.
4430 Clifford Road 
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One of the best things about living in Livingston County is the great services we get to utilize. And it doesn’t get any better than the Howell Carnegie District Library.
The library was conceptualized in 1902 when Howell’s postmaster W.H.S. Wood wrote a letter to the entrepreneur Andrew Carnegie seeking funding to build a library. He was offered $10,000 if the village and township would pledge its support with an additional $1000 per year and provide a suitable site. A mil levy was passed and four McPherson brothers purchased the land on Grand River and donated it for the library. The library opened its doors on November 19, 1906.
Living in South East Michigan has its advantages, and one is that there is a plethora of Home/Car/Boat/Outdoor shows in the Detroit Area. Many are low cost, many are easy to get to and there are abundant areas of interests covered. Below are a list of shows with the dates and links to their websites. Get in out of the cold and explore all that Michigan’s Home/Car/Boat/Outdoor shows have to offer!
2008 North American International Auto Show
When: January 19th-27th
Where: COBO Hall, Detroit MI
www.nais.com
2008 Novi Home Show
When: January 25th-27th
Where: Rock Financial Show Place, Novi MI
www.novihomeshow.com
Outdoorama 2008
When: February 28th- March 2nd
Where: Rock Financial Show Place, Novi MI
www.showspan.com/Out/Home.aspx
Cottage and Lakefront Living Show 2008
When: February 28th-March 2nd
Where: Rock Financial Showplace, Novi MI
www.Showspan.com/CLD/Home.aspx
Michigan Home and Garden Show 2008
When: March 7th-9th
Where: Ford Field, Detroit MI
www.Showspan.com/FHG/Home.aspx
- Sara Hufnagle, Lead Coordinator, The Buckley Jolley Real Estate Team
After completing a transaction with our clients, we always request they complete a "Client Satisfaction Survey" so that we can learn a little bit about how they feel about the service we provided. We value the insights from our past customers, and are glad to share a few we have received in the last month with you here.
"The staff was available & returned calls right away. We were informed about showings, results of showings & other information in a considerate & timely manner... office staff was exceptional... service is great especially the communication... impressed by your TV ads & Todd's professional & knowledgable first presentation" - Gary & Barbara W.
"Todd Buckley is very professional, nice, and put us at a high level of comfort. Thank you!" - James & Christine D.
In late December 2007 President George Bush signed the Mortgage Forgiveness Debt Relief Act of 2007 into law.
This new legislation is to help homeowners avoid foreclosure by allowing them to refinance without any tax consequences or have their lender agree to a short sale on their home. The Mortgage Forgiveness Relief Act allows for the homeowner to reduce the basis in their house (as reported by the mortgage company on a 1099C) and not reporting this forgiven debt as a capital gain or taxable income, therefore not creating any additional taxes due for the homeowner.
To get a summary of this bill go to http://www.govtrack.us/congress/bill.xpd?bill=h110-3648 .
We love our Livingston County MSU Education Office.
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2905 Rubbins Road
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This time of year, I enjoy watching commercials on TV and listening to them on the radio. The spots are filled by products guaranteed to help you eat better, exercise more, loose weight, feel better, stop smoking, get a college degree, get a better job, etc. We all get a fresh start at the beginning of the year to make necessary changes. What was your resolution?
But by February 1st, most people have fallen off the wagon and buckled to their already ingrained behavior that they swore they would change. Experts say that creating a new habit requires having a plan and being accountable for the plan. The same holds true for hitting personal and professional goals.
This year we are taking our team goals and putting them out there for all to see. We were very thankful to help 113 families in 2007. In 2008 we will help 150 families. It won’t be easy, but we’ll do it. How? We continue to adjust our marketing, systems and knowledge so that we are the best choice for all of your real estate needs. Client/Customer service has always been the foundation of our business. We will never forget that. Why do we want to help more people in 2008? Because there are more people than ever than need help in this SE Michigan economy. Having the knowledge to successfully handle challenging sales, such as Short Sales and Foreclosures, is critical in this market.
We’ve always strived to break the stereotype of a real estate agent.
If you haven't, you should check it out!
The Home Center offers a diverse selection of new and gently used items for the home. New items arrive daily and include building materials, appliances and furniture all priced below original cost.
The Home Center accepts donations of these items as well. Check out the Donation Guidelines.
Livingston County Habitat for Humanity is part of Habitat for Humanity Michigan. The Livingston County Habitat for Humanity was incorporated in 1992 and since that time has built 14 homes in Livingston County for Livingston County residents. Their homes can be found in Howell, Fowlerville, Lakeland, Whitmore Lake and southern Fenton.
HGTV has an video series on their web site that offers
10 Ways to Increase the Value of Your Home
Check it out for some interesting tips, we thought some of the ideas were great!
January is Radon Action Month and the Livingston County Department of Public Health is offering free short term radon kits so you may test your home.
Because Radon is an odorless, invisible gas, often times people don't even know that they are at risk. Around 20% of homes locally are estimated to have elevated levels of Radon.
The free test comes in a pouch and you hang it up in a room in your home for 4 to 7 days before mailing it to a testing laboratory.
For more information, log onto the health department's website at http://co.livingston.mi.us/health/environhealth/aq/radon.html
After completing a transaction with our clients, we always request they complete a "Client Satisfaction Survey" so that we can learn a little bit about how they feel about the service we provided. We value the insights from our past customers, and are glad to share a few we have received in last month with you here.
"Everyone I worked with were very friendly and helpful... You have a great team, I felt comfortable being a single Mom and doing this for the first time by myself, I felt no pressure!!!" - Tracy S.
"(You were) wonderful- gave us great advice and (were) tremendously helpful. Emily was great at keeping us on track." - Rick and Dawn W.
Karen & Todd send our sellers an update on market conditions every two weeks. Here is an excerpt of that e-mail.
Hello again SELLERS,
Happy New Year!
Notice I didn’t say “potential sellers” above. That’s because I believe ALL our listings are sales that just haven’t happened yet. Some agents play the numbers game and list a great number of homes knowing that some will sell and some won’t. We take a different approach and that’s why our number of sales was up 20% in ’07, while countywide the number of sales was down 12%. If I didn’t believe we could meet your goals, I would have politely declined the listing. It doesn’t do either one of us any good just to have a sign sit in front of your home. Since you are receiving this message, you made the cut. We know your home will sell. However, we all must stay proactive in the process.
Complete knowledge of this changing market and reporting those stats to you (no matter how brutal they may be) are the key to our success. Sure, we market our homes better and put your home in the right place for a buyer, but pricing is what will get your buyer into the home. The stats and trends direct our pricing. Think of this process as a day out on a fishing boat… Our initial market analysis is our first reading on the depth finder. We’ve located the fish. If no bites, we look at the depth finder again and determine that the fish have moved and maybe try a new lure. This is the equivalent to our seller updates. With the correct proactive steps, the fish will bite and your home will sell.
In ’07 we found new “lures” that worked: additional websites, expanding our TV commercials, and completely overhauling many of our systems are just a few examples. We anticipate making more changes throughout ’08. We track every call into the office so we can look for trends. If one type of advertising is no longer producing and another is seeing an increase in leads, we will shift our marketing dollars accordingly.
As far as keeping up with the sales stats, I wanted to share a more visual representation of those figures. I’ve mentioned before that the county has over 26 months of inventory on the market currently (time supply). This graph shows our active listings in the county and how those numbers relate to the sold and pending sales over the last two years.
I’m looking forward to helping you achieve your goals in 2008. That includes a SOLD sign in front of your home.
Talk to you in the next week!
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