Click here to view this email in a web browser
Lynn Caldwell
313.884.2293 (Direct)
586.764.1356 (Cell)

Being thankful for our homes
November marks the month when we celebrate the bounty of a fall harvest and connect with family and friends. We reflect on giving thanks for all the good things in our lives: our friends, our families, and our homes. 

The great thing about being in the real estate business is that most of my clients are either friends or become friends, and that the people I work with in the real estate business are like my family. 

I am very thankful for doing what I do because I get to meet great people like you. It's an incredible feeling when friends share with you how they are personally grateful for helping them buy a home, whether it is their first, their last, or in-between. 

If I can help you or someone you know buy or sell a home, I would be very grateful to have the opportunity to help.

4 huge reasons to stop renting and start buying
  1. Throwing money away. Yes, you are putting a roof over your head, but at the end of the day, what do you have to show for it? Stop putting money in your landlord's pocket and start putting it towards a home of your own.
  2. Loss of equity. The only equity you are building when you rent is the equity you create for your landlord. Think about the advantage of owning your own home, paying off a mortgage, and living your retirement in a place that doesn't have a monthly rent.
  3. Lack of control. You simply can't paint your walls whatever color you like because you don't own the place. Your landlord makes the rules and you have to abide by them.
  4. Tax deductions. You miss out on what tax experts will tell you are some of the biggest and best deductions the IRS currently allows. Mortgage interest, property taxes and certain buying and selling expenses all may come with tax breaks that can put thousands of dollars back into your pocket.
If you want to talk about how you can stop renting and learn what it takes to buy a home today, just give me a call or send me an email. I'm here to help.
Don't buy a home if you're self-employed until you read this
If you are one of the 10 million Americans who are self-employed people and are considering buying a home, you'd better prepare for extra documentation of your income and your finances. That's because lenders treat self-employed borrowers differently than those who are earning a corporate paycheck and receive W2s. 

You also need to know about one huge 'gotcha'. If you are newly self-employed, meaning you do not have 2 full years of self-employed tax return, you're probably going to need to wait before you buy, as lenders will require two full years of tax returns. The exception is if your income isn't needed to qualify for a home loan. For example, if your spouse or partner earns enough without your income, you'll be fine. Or if you're paying cash for a home, you're also good. 

Getting a home loan and being self-employed brings other challenges and it's best to meet with your lender to have a full review of your paperwork before you start shopping. 

If you have other questions about buying or selling a home, give me a call or send me an email. I'm ready to help!

Is it safe to consider your vacation home an investment?
Like any investment, it can be risky to consider your vacation home an investment. When deciding whether to buy, location and current market conditions are extremely important. 

Other things to consider include:
  • Will you be able to afford repairs, maintenance, insurance, and utilities?
  • What about fees to pay agents who rent the property for you?
  • If you live several miles away from your vacation home, who will clean up between tenants and take an inventory of household items once the tenants leave?
  • What if you are unable to rent your second home? Can your finances withstand the strain of paying the mortgage?

2680 Military Street
Port Huron, MI 48060
Bedrooms 5 | Bathrooms 4.1 | Square Feet 5,580
MLS#: 215101797

Unique opportunity to own this very well maintained 4 family home on the St. Clair River w/ panoramic views, 2 lower, 2 upper units w/ chair lift. Each unit is 1,400 sq. ft. Each have hardwood floors, Stove, Refrigerator, Microwave, Dishwasher, Disposal, Washer, Dryer, 2 window air conditioners, separate basements w/storage, and attached garage w/ openers. Partial Finished 3rd level w/ lots of potential (not included in sq. ft.). Walk out Basement with Direct access to the river and riverfront patio w/ 71 ft on the seawall. Great for an Extended family, rental (or live is one and rent the others) or family vacation home close to Metro Detroit w/ income potential. There is also a third level that is partial finished that can be accessed from the second level that is not included in the square footage Current Grosse Income $32,000 w/ greater gross potential, 3 units are on month to month.


View Listing
The risks of "over improving" your home

The last thing you want to do when undertaking a home improvement project is to go overboard on improving your home. This means fixing up the home to the point where it becomes worth far more than nearby properties. 

Down the road, when you may want to sell, potential homebuyers will be reluctant to pay, say, $200,000 for your home when others are priced at $150,000. If they want to pay that kind of money, they will likely make a purchase in a neighborhood where most of the homes sell in that price range. 

Carefully measure the cost of any improvements you want to make against the overall values in your neighborhood. Otherwise, you may not recover your costs or increase your property value significantly. 

Lynn Caldwell

Sine & Monaghan, REALTORS® Real Living
18412 Mack Avenue
Grosse Pointe, MI 48236
©2016 Real Living Real Estate, LLC. An independently owned and operated firm. Real Living is a registered service mark. Equal Opportunity Housing Provider.
©2016 Real Living Real Estate, LLC. Independently owned and operated.