Author Archives: Mark Jacobsen

About Mark Jacobsen

Real estate agent with FreedomRE at Keller Williams focusing on Okemos, Haslett, East Lansing, Dewitt, Holt, Williamston, Mason, Grand Ledge, and Lansing.

Did you sell your home after June 24, 2011? You won’t believe what could happen next!

This was originally published back in 2016, but it’s still applicable and could put some serious cash in your pocket!

  1. Did you sell a home in Michigan after June 24, 2011?
  2. Was the SEV of your home less than when you purchased it?
  3. Did you pay the SRETT (State Real Estate Transfer Tax)? You may even be eligible if you purchased from Fannie Mae or Freddie Mac.

If you answered yes to all 3 questions, you may be eligible for a refund of $7.50 for every $1,000 of the purchase price.

That’s an easy $1,500 on the sale of a home for $200,000! Not bad for something like an hours worth of work (10 minutes if you have all your documents organized).

What if you don’t know the answers to the questions above? Have no fear. What you need is to…

  1. Find the Settlement Statement from your sale
  2. Look for the line that mentions “transfer tax” (usually on page 2)
  3. If the $ for the “State tax/stamps” falls in your column move on (if not, sorry)
  4. Find your property tax statements from when you purchased your house and when you sold your house
  5. If the State Equalized Value (SEV) was higher when you purchased than when you sold you’re most likely eligible!
  6. Find a copy of the warranty deed from the sale (or obtain from the Register of Deeds in your county)
  7. Make copies of everything, fill out “Form 2796” linked to below, and mail it in!

Resources

You or someone you know looking to buy or sell?

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The Difference is in the Details

Today I happened to be browsing the MLS, like I do on a nearly daily basis, and came across a home listed for more than $700,000! “Wow!” I thought. “I need to check this place out”. So I clicked through to take a look. The first picture was beautiful. Obviously not taken recently – given the lush green grass and all ๐Ÿ™‚ Then I clicked through to the next and was greeted with a blurry mess. “Surely this can’t be right” I figured and moved on to the next. A few in, there’s one with the camera flash reflecting back off the window. As I moved on almost half of the photos were grainy or blurry. And this was on a $700,000+ house!

Ok I thought. The agent must be a newbie or a discounter. That would explain not being able to afford or being willing to have a professional photographer do the images, right? Wrong again. I won’t name names, but let’s just say this agent has more than the means to have the photos done right ๐Ÿ˜‰

So, why am I writing about this? Because I truly believe that the details make all the difference. Once I got over the hump in getting my RE practice humming I hired a professional photographer for the first time, and let me just say they are worth their weight in gold! Now, every client that lists with me gets professional photos (apologies to my clients when I was just starting out).

So, when it comes time to list your home you can either hire the agent that takes the photos themselves or has their “assistant” do it, or someone – like me! ๐Ÿ™‚ – that will see to it that the details are tended to weather your house lists for $100k or $700k+.

You or someone you know looking to buy or sell?

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November 2017 Lansing Real Estate Report

Welcome to the November 2017 edition of the Lansing Real Estate Report! Below you’ll find what happened last month in the school district of your choice.

Whether you’re looking to buy, sell, or know someone who may – I’m here to provide an #unreal experience. Contact me today!

School District Sold Cash Sales Listed
Okemos 35 4 19
Haslett 22 5 13
Mason 25 3 17
Holt 37 10 32
East Lansing 33 10 33
DeWitt 22 1 29
Grand Ledge 34 12 33
Williamston 14 7 10
Lansing 137 43 128
You or someone you know looking to buy or sell?

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October 2017 Lansing Real Estate Report

Welcome to the October 2017 edition of the Lansing Real Estate Report! Below you’ll find what happened last month in the school district of your choice. Overall, the Lansing association of Realtors saw a 12% increase in sold units, and a 58% increase in sold listings volume as compared to the same month last year.

Whether you’re looking to buy, sell, or know someone who may – I’m here to provide an #unreal experience. Contact me today!

School District Sold Listed
Okemos 29 42
Haslett 22 29
Mason 31 23
Holt 46 51
East Lansing 35 36
DeWitt 15 18
Grand Ledge 59 49
Williamston 17 22
Lansing 152 199
You or someone you know looking to buy or sell?

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The humming garbage disposal

Ever flip the switch to your garbage disposal and just have it hum at you? Fortunately there’s a relatively easy fix… just insert a hex wrench (often one will even be taped to the disposal – or see example image) into the hole on the bottom of the disposal (see picture). Turn the wrench a few times to free up the blades and you should be back in business!

Example hex wrench set…

You or someone you know looking to buy or sell?

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The Reluctant Investorโ€™s Lament

I heard the poem entitled The Reluctant Investor’s Lament by Don Weill today on the Jason Hartman real estate podcast and found it both interesting and exciting as I have been getting stated in real estate investing and helping other investors. Hope you enjoy it too…

“I hesitate to make a list of all the countless deals I’ve missed;
Bonanzas that were in my grip – I watched them through my fingers slip;
The windfalls which I should have bought were lost because I overthought;
I though of this, I thought of that, I could have sworn I smelled a rat,
And while I thought things over twice, another grabbed them at the price.
It seems I always hesitate, then make my mind up much too late.
A very cautious man am I, and that is why I never buy.

When banks rose high on Shirley and Bay, the prices asked I felt dismay;
Whole blockfronts – bleak and black with soot – were priced at thirty bucks a foot!
I wouldn’t even make a bid, but others did – yes others did!
When Treasure Cay was deserted land, I would have had a heap of sand;
When Cable Beach was the place to buy, I thought the West was much too dry;
Invest in Winton – thats the spot, my sixth sense warned me I should not.
A very prudent man am I and that is why I never buy.

How Nassau and how Freeport grew! Abaco and Harbour Island too!
When others culled those sprawling fields, and with open arms did welcome deals –
A corner here, ten acres there, compounding values year by year,
I chose to think and as I thought, they bought the deals I should have bought.
The golden chances I had then, were lost and will not come again.
Today I cannot be enticed, for everything’s so overpriced!
The deals of yesteryear are dead, the market’s soft and so’s my head.

Last night I had a fearful dream, I know I wakened with a scream;
Harold Christie approached my bed, and with a smile he softly said –
For what seemed like an enormous sum, A private city could be done.
I said it was but swamp and bush, and in this deal I would not rush.
E.P. Taylor he then searched out, and Lyford Cay did come about.

At times a teardrop drowns my eye, For deals I had but did not buy.
And now life’s saddest words I pen – “If only I’d invested then!”

Ref:
http://www.liquidlatitudes.com/The%20Word/Investors%20Lament.htm

The Reluctant Investor’s Lament.


You or someone you know looking to buy or sell?

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Let’s Talk Poo

Poo? Yes, number 2. You see I’ve been reading up on septic systems for a client interested in buying some unimproved land and thought it best to write up what I’ve learned so we can all benefit.

The first thing to find out when buying land that doesn’t have a sewer hook up, is can I put a septic system in? To determine the answer to that question we would write up the purchase contract contingent on a site evaluation (aka perk test). The site evaluation runs about $300-$800 and would tell you if you can install a conventional system or if an alternative system (aka: engineered or mounded system) would be necessary. It will also tell you where you can have the system installed.

Should a conventional system be sufficient you will be looking at about $3,000-$15,000 for the installation. Also, the installation will be completely below ground. Figure on inspections every three years at a cost of about $200-$600 and periodic pumping of the tank at $200-$400.

On the other hand, if the ground water or bedrock are too high you will likely need to have an engineered (aka: mounded) system installed. Here you’re looking at $15,000 to $30,000 for installation and the system will cause a bulge or “mound” in the land. In addition, there is more maintenance and upkeep with a mounded system so make sure to factor in another $500-$1000/year for that.

As you can see the costs fluctuate widely and that’s a great reason to get multiple quotes. Just make sure when you make your selection that you don’t just pick the cheapest option or you may find yourself in deep do-do (quite literally).

Sources:

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