Lakeside Office May News Letter

8/2/2019 Lakeside Office May News Letter

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PRINCIPAL RESIDENCE EXEMPTION

(PRE) Law Changes May 1, 2012

New legislation, signed by Governor Rick Snyder, creates

two PRE filing dates; one on June 1st and the other on

November 1st. Buyers no longer have to scramble to

meet the old May 1st deadline. The new law also allows

banks to file a Conditional Rescission (Michigan Dept. of

Treasury Form 4640) of the PRE and maintain the exemp-

tion status on foreclosed properties. Buyers can qualify at

the lower rate of taxation on the many foreclosed proper-

ties that have flooded the market in Michigan.

(See MAR website for further details and analysis.)

MORTGAGE FORGIVENESS ACT EXPIRES

DECEMBER 31, 2012

If sellers have been thinking of doing a short sale on their

principal residence, they may want to hurry up. The time iswinding down for homeowners who want to ensure they arent

hit with a big tax bill because they had to walk away from amortgage obligation.

TheMortgage Forgiveness Debt Relief Actis set to expire

December 31, 2012. Simply stated, if a homeowner borrowsmoney for their principal residence (up to 2 million) from a

bank or commercial lender and the lender cancels or forgivesthe debt (through a short sale or foreclosure), the homeowner is

not responsible for paying federal taxes on the forgiven amount.Upon expiration of this Act, all debt forgiven will be treated as

income and reported on a 1099 miscellaneous income form.This is the time for sellers considering a short sale to take

immediate action if their lender will consider any debtforgiveness.

(Notice: associates must notprovide

tax advice, but recommend theservices of an attorney or CPA

on this subject.)

CONGRATULATIONS KELLER WILLIAMS LAKESIDEFOR ANOTHER RECORD BREAKING MONTH !

You set the bar higher than ever with 175 written transactions in March.Then you went back at it and blew that high mark away with 203 unitsin April.

Roger Bannister ran, what was considered impossible, a mile in under4 minutes in 1954. After he broke the record, others were able to alsorun the mile in under 4 minutes. Until Roger's record setting pace, noone thought it could be done.

Now that we have broken the 200+ written sales in one month level,watch us do it again. We continue to raise the bar every month.

MORE IMPORTANTLY....

We are giving back $12,500 in profit share to the associates in ourmarket center for the month of April. You have generated $22,000 inprofit share for the first four months of the year. That is something youcan be very proud of at KW Lakeside.

Let's reach $100,000 for everyone to share by 12/31/12.

Our April sales volume was $22,000,000 with 130 closed units.High energy = high production = high profit share!

WEDNESDAY, JUNE 20th FROM 9:00 AM TO 3:30 PM

AT THE CONCORDE INN, 44315 N. Gratiot Avenue,Clinton Township.

(Registration at 8:30AM)

Save this date for Keller Williams Lakeside 2012Continuing Education Course. FREE Course with

continental breakfast and full lunch & beverages.Conducted by Jack Waller, Rick Linnell & Tom Kotzian.

Exclusively written by NCI Associates and is the only FREEContinuing Education Course offered by our company

this year. It has been approved for 2012 CE credit bythe State of Michigan. Also includes

Quadrennial Code training for NAR.Don't miss this opportunity to complete your 2012

continuing education course requirement.*This course will complete your 3 year CE requirement

for license renewal 10/31/12.

45609 Village Blvd.Shelby Twp. MI 48315

(586) 532-0500Tom Kotzian - Team Leader

May 2012 edition

LEGAL UPDATE

Community Events2012 Annual CE Course

Lakeside

MarketCenter


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Keller Williams Lakeside welcomes Sean Yousif and Ron Ronse, two great experiencedagents. Watch for our exclusive FREE Real Estate Salesperson License Training School

opening in our Market Center in June. We are offering a special program for returning Veterans

HERE WE GROW AGAIN!

Tom KotzianTeam Leader

At Keller Williams Lakeside Market Center

Agents Are Partners

Keller Williams Lakeside2011 Agent Profit Share

Our office shared$57,731 of company dollar in2011 with agents...our goal is to share $100,000 i

2012. Let us help you grow your profit share tree

2011

Volume - $119,000,000

Units - 1,400

Agents - 135

Listings- 1,000

MAY2 BOLD - All Day Livonia

4 SALES BASICS - The Listing Agreement (10A -12P)

8 BOLD - All Day Livonia

11 SALES BASICS - Agency Law (10A -12P)


18 SALES BASICS - Leases (10A -12P)


25 SALES BASICS - Closing Statements (10A -12P)

JUNE1 Workshop: Personality Styles (10am.12pm.)

4 Power Hour (9am.)

8 Workshop: Sphere of Influence (10am.12pm.)

11 Power Hour (9am.)

15 Workshop : Effective Floor Time Skills for Appointments


20 2012 Annual Continuing Education (Includes MandatoryNAR Quadrennial Code of Ethics Training)(8:30 am. - 3:30pm.) Concorde Inn - Clinton Twp.

22 Workshop: Negotiating Contracts (10am. - 12pm.)


29 Workshop: Contract Contingencies & Conditions

Education Schedule

CULTURAL AWARD RECIPIENT

Congratulations toJanine Seeley from our AgentServices Department on being selected ourCultural Award

Recipientfor the month of May. The award recognizes tho

individuals who contribute valuable services to our marketcenter through many acts of random kindness. Selection isvoted on by the Keller Williams Lakeside ALC( Associate Leadership Council ).

Janines dedication, commitment, and hard work is

recognized by all who know her. She unselfishly gives hertime and energy to helping others, which is very fitting to herprevious profession as an elementary school teacher.We applaud Janine for this honorand welcome her backto the officeafter a brief absence.

Way to go Janine!

(10am.12pm.)

(10am. - 12pm.)


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Keller Williams Regional

AWARDS BANQUET

Lakeside Market Center

GREAT JOBEVERYONE


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Keller Williams LAKESIDE Profit Shared $57,731 in 2011..

Ask Tom Kotzian how you can get your share! (586) 532-0500

WINNING Chili Recipe

Southwestern Chicken Chili

48 oz. northern beans

4 cups sour cream2 cups chicken broth

Shredded cooked chicken or turkey

(I used Oscar Meyer Deli fresh prepared

chopped Southwestern

Chicken Breast - 3 16 oz. pkgs.,

( found in the prepared food section

of the meat counter)

One packet chili seasoning

One jar salsa...

(I used Tostitos Chunky - Medium)

One 8 oz. Mexican shredded white cheeseDash of salt

Mix together, adding the cheese at the end.

( You could also substitute the chili seasoning

for 3 Tbsp Cumin if desired)

Quick & Easy...

Enjoy!Carol Provenzano

Chili Cook Off!

INVESTMENT WORKSHOP

ByDave Klaft

Congratulations to our current winnerCarol Provenzano

With past winner Rick Hovarter


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WHAT IS RED DAY?RED DAY ( Renew Energize and Donate) is an initiative dedicated to celebrating Keller Williams Realtys

year-round commitment to improving our local communities. Each year, on the second Thursday in May, tens of

thousands of associates from across the United States and Canada participate in a wide range of projects, devoting their

time to renewing aspects of the neighborhoods in which they serve.RED DAY initiatives run the gamut: from rebuilding homes, refurbishing local parks, giving to local food shelters, hosting

blood drives, beautifying beaches, and so much more. Projects are chosen by each individual market center based on a

need they see within its community.

This event is an entrenched part of Keller Williams Realtys culture and displays the extraordinary effect a company

can have when individuals come together to work as a team for the greater good of everyone.

On May 8th, 2012 over 40 members of Keller Williams Lakeside market center will work on homes provided by Macomb

County Habitat for Humanity in Clinton Twp. The rehab work will include flooring, interior and yard work. Over 320

labor hours will be provided by Keller Williams Lakeside for a very worthwhile project in the community.

Habitat for Humanity is a Christian housing ministry that has helped to build over 500,000 decent, affordable homes and

served 2.5 million families worldwide. Their vision is simple: a world where everyone has a decent place to live.

This is Lakesides 3rd year in a row partnering with Habitat for Humanity.

How You Can Help The Appraiser And Close The TransactionThe recent MAR Broker Summit in April offered a glimpse into the world of appraisers from an inside perspective. Two appraisersand a mortgage specialist conducted an extremely informative panel style program. Several of these speakers will address our com-

pany at the next team meeting at Cranks on JUNE 12th. Agents from other companies are welcome to attend.Call Tom Kotzian at (586) 532-0500 to register. KWL associates should consider inviting fellow Realtors from other Brokerages. The

knowledge gained could generate several more closings because the appraisal came in at the price needed to approve the loan.

Here are some tips offered to Realtors at the workshop:1. Give all important information to the appraiser, such as the home sold in 4 days and had multiple offers over list price.

2. Make sure the appraiser has access to the home and all utilities are on.3. Provide a complete Purchase Agreement & Sellers Disclosure Statement to the appraiser. This is required on the appraisers

form.

4. List anything unusual for the appraiser, such as manufactured home or two homes on one lot.5. Provide quality comparables to support the price. (Most Realtor comparables are not appraisal type comps)6. Seller concessions are a big factor for the appraiser.

7. No weight is ever given for the listing price.8. Take personal property off the purchase agreement.

9. Appraisers must use all comparables, including short sales and foreclosures and comparables must be within the last 12 months.10. The general rule for distance for comparables from the subject property is: 1 mile for urban; 5 miles for suburban; 10 miles for

rural. However, credible comparables will be taken from outside areas if there is nothing local.

Remember, the pressure on underwriters is very high at this time and they are worried about their jobs. Therefore, they are being ultra-conservative and often ask for a 2nd appraisal, more information, etc. Any reconsideration of value must go to the appraiser, not the

lender. The question asked by the underwriter is, Would it be marketable if itwere foreclosed one year from now? A stable market gives them more latitude.

Photos from Keller Williams Lakeside RED DAY MAY 2011!

Keller Williams Lakeside

Tom Kotzian - Team Leader (586) 532-0500


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The Trouble TreeAuthor unknown

The Carpenter I hired to help me restore an old farmhouse had justfinished a rough first day on the job. A flat tire made him lose anhour of work, his electric saw quit, and now his ancient pickuptruck refused to start. While I drove him home, he sat in stonysilence.On arriving, he invited me in to meet his family. As we walkedtoward the front door, he paused briefly at a small tree, touching thetips of the branches with both hands. When opening the door heunderwent an amazing transformation. His tanned face waswreathed in smiles and he hugged his two small children and gavehis wife a kiss.Afterward he walked me to the car. We passed the tree and mycuriosity got the better of me. I asked him about what I had seenhim do earlier.Oh, thats my trouble tree, he replied. I know I cant help havingtroubles on the job, but one things for sure, troubles dont belong inthe house with my wife and children. So I just hang them on thetree every night when I come home. Then in the morning I pick themup again.He paused. Funny thing is, he smiled, when I come out in themorning to pick em up, there aint nearly as many asI remember hanging up the night before.

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Lakeside Office May News Letter