Author Archives: James Silver

Your Guide to Cider Mills in Southeast Michigan

Long summer days are slowly turning into crisp fall nights. The color of the leaves are changing and falling from their branches. There is a long standing tradition in Michigan; when Fall arrives, we Cider Mill! This is your complete guide to the best cider mills worth a visit this Fall.

Round up the kids, get in the car and go get some apple cider and donuts!

This Month in Real Estate – September 2016

We are dedicated to making sure you have the most up-to-date information about your biggest investment – real estate. Check out this info-graphic, to get the latest “what’s up” in real estate. It’s time to get your home sold!

Call us today to see how we can get it sold! We look forward to working for you.

Labor Day 2016 in Michigan

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You may want to celebrate the end of summer, but might not know what to do. Check out all of these great family friendly events in Michigan!

Thursday, September 1, 2016 through Labor Day
Romeo MI Labor Day Weekend Events – Romeo Peach Festival 2016
Downtown Romeo
One of the best festivals in the state! Romeo Peach Fest 2016 features carnival midway rides, life entertainment, a beer tent, contests, games, day parades, night parades, Vegas games, and so much more! Visit michiganpeachfest.com for a complete schedule of events.

Thursday, September 1 through Labor Day
Novi MI Labor Day Weekend Events – Michigan State Fair 2016
Suburban Collection Showplace (46100 Grand River Ave, Novi, MI 48374)
The Michigan State Fair brings fun for the whole family…rides, music/entertainment, Shrine Circus Tents, exhibitors, Farmer’s Market, agriculture/livestock, racing pigs, and more. Hours are FRI, SAT, AND SUN from 10a-11p, and Labor Day Monday from 10a-9p. Advanced discount ticket are on sale now. Visit www.MichiganStateFairLLC.com for more details.

Friday, September 2, 2016 through Labor Day
Royal Oak MI Labor Day Weekend Events – Ford Arts, Beats, and Eats 2016
Downtown Royal Oak
Arts, Beats & Eats is in its 5th year in Royal Oak! Come check out awesome live entertainment, yummy foods, carnival midway rides, and so much more. Visit www.artsbeatseats.com for more info and don’t forget to check out this year’s Arts, Beats and Eats concerts! ABE Preview – ABE Concerts Lineup

Friday, September 2, 2016 through Labor Day
Leonard MI Labor Day Weekend Event – Addison Oaks Labor Day Weekend Camping
Addison Oaks Park (1480 West Romeo Road, Leonard, Michigan 48367)
A summer finale of fun featuring bingo, tie dying, magic show, inflatables, face painting, team games, arts and crafts, DJ dance, wagon rides and outdoor concerts. Call 248-634-9811 for more info or visitwww.DestinationOakland.com.

Friday, September 2, 2016 through Labor Day
Holly MI Labor Day Weekend Event – Groveland Oaks Labor Day Weekend Camping
Groveland Oaks County Park (14555 Dixie Highway, Holly, Michigan)
A summer finale of fun featuring bingo, tie dying, magic show, inflatables, face painting, team games, arts and crafts, DJ dance, wagon rides and outdoor concerts. Call 248-634-9811 for more info or visitwww.DestinationOakland.com.

Friday, September 2 through Labor Day, 2016
Detroit Labor Day Weekend Events – Detroit Jazz Festival 2016
Downtown Detroit (in & around Hart Plaza)
Enjoy the smooth jazz all weekend! Hours are 7p-10p on Fri, 11:30a-10:45p on Sat and Sun, and 12:15-7:30p on Labor Day. For complete schedule of events, visit www.DetroitJazzFest.com.

Saturday, September 3, Sunday, September 4, and Monday, September 5, 2016 from 10a-7p
Holly MI Labor Day Weekend Event – Michigan Renaissance Festival 2016
Michigan Renaissance Festival ()12600 Dixie Highway, Holly, MI, 48442)
Take a time-travel adventure into the 16th century at the 38th annual Michigan Renaissance Festival! Enjoy live entertainment and fun every weekend through October 4. Visit michrenfest.com for more info.

Monday, September 5, 2016 at 8:30a (registration)
South Lyon MI Labor Day Weekend Event – Labor Day Bridge Walk 2016
McHattie Park (400 Dorothy Street, South Lyon, Michigan)
This all-ages event will run along the Huron Valley Rail Trail and through downtown South Lyon MI. Labor Day Community Walks that are held throughout the state in conjunction with the Mackinac Bridge Labor Day Walk. Pre-registration is appreciated with free t-shirts to the first 100 people who register. You may pre-register with South Lyon Recreation on-line at www.slrec.net, over the phone at 248-437-8105 or in person at 318 W. Lake Street. For more information you may also visit the City of South Lyon
website at www.southlyonmi.org.

Monday, September 5, 2016 at 9a
Rochester MI Labor Day Weekend Event – Paint Creek Trail Labor Day Bridge Walk & Run
Rochester Municipal Park (400 6th St, Rochester, MI 48307)
Free with a suggested donation of $5 per family. Enjoy a 2 mile walk to Tienken and back or a 10K run to Silver Bell & back on the Paint Creek Trail. For more registration info, visit Paint Creek Trail website.

Monday, September 5, 2016 at 10a
Clarkston MI Labor Day Weekend Event – Clarkston Labor Day Parade
Main Street in Downtown Clarkston
Join in the Clarkston Labor Day Parade fun! The Clarkston Rotary Club, sponsors of the Clarkston Labor Day Parade for the past 73 years is seeking parade participants to join in a fun-filled community event. The parade kick-off from Renaissance High School on Waldon Road.For more info, visit clarkstonrotary.org.

Content courtesy of OaklandCountyMoms.com

James Silver

James Silver Team in Michigan & Florida

(248) 530-7292 | JamesSilver@KW.com

What is a Duplex?

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Homes come in many shapes and configurations, and one type that’s popular with extended families or budding landlords is a duplex. But just what is a duplex? It’s not just one home, but two. They may be stacked one atop the other on separate floors, or they may be side by side with a shared wall. A duplex may also be called a “multifamily dwelling,” because more than one family can live in it.

A duplex is sometimes confused with a “twin home,” but they’re not the same thing. A twin home may look like a duplex: two separate homes sharing a wall. But with a twin home, the lot line actually runs through the common wall—so on each side you have an individual home on an individual lot, even though they’re connected.

A duplex is different: Rather than owning just one home, you own two.As such, duplexes will likely cost more than a single-family home at the outset. However, if you rent out the other half, this revenue can drastically offset your expenses and potentially make duplex living cheaper than what you’d pay for a freestanding house. It’s a popular option for people who want to keep family members nearby or who want a steady income from a place that’s not too far away to manage.

The upsides of a duplex

A lower cost: On average, living in one side of a duplex (while renting out the other side) is more affordable than living in a single-family home with a similar number of bedrooms, bathrooms, and square footage, according to Duplex.net.

Help with mortgage payments: Let’s say your monthly mortgage payment is $1,700, and you rent out the other half of your duplex for $900. You’ll need to come up with only $800 each month to make the payment. Or you could pay off your mortgage even faster by making extra payments on the principal.

Tax deductions: Unlike with a single-family residence, with a duplex you can deduct certain home expenses for maintenance and yardwork because it’s an income property. That can make upkeep easier to afford. Just to be sure, check with a tax pro before you make an offer on a particular property, because specifics always vary.

You can keep family close: If your family includes someone who is elderly, has special needs, or is just starting a new career, he or she can stay in the other half of the unit. The family member can maintain a degree of independence while not going too far from the nest.

Security: There’s always someone nearby in case you need help, or to watch over your place while you’re gone.

You set all the rules: The advantages of being a landlord include getting to set all the rules when it comes to pets, smoking, and landscaping. Note, however, that being a landlord also has its downsides.

The downsides of a duplex

Your tenants live right next to you: This could potentially be awkward if they’re knocking on your door at all hours with requests or complaints.

You’re responsible for all maintenance: Anything that breaks, the way the yard looks, utility issues—you have to take care of it all. Being a landlord may not be easy.

Renters are not guaranteed: If the rental market is soft, it can take time to find ideal tenants. If you don’t have renters lined up, you’ll have to make the entire mortgage payment yourself.

Privacy may be an issue: You could be sharing a floor, ceiling, or wall with another person. You’ll have to deal with all the noise, smell, aesthetic, and parking issues that come from living so close to someone else.

You’ll have to deal with damage: No matter how carefully you’ve selected your renters, no one ever takes care of someone else’s property as well as they take care of their own. Stuff happens, and you’ll have to sort it out.

Call us today to help you find the perfect duplex for you!

James Silver

Associate Broker & Team Leader

James Silver Team, Keller Williams

Michigan | Florida

Content courtesy of Realtor.com

Rent Out Your Home To Make Bank

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There are many reasons you might be one of the many homeowners wondering how to rent out your house: Maybe you’ve tried to sell your home but the market’s too sluggish, or you’re moving to a new area but want to hold on to your old property and rake in some income on the side.

Whatever the reason, it’s a good time to be considering this, because the rental market is hot. But renting out your digs for the long term is a very different animal than the occasional stint on Airbnb. Here are some basic steps to take to get you started down rental road.

Determine how much to charge in rent

At the least, most newbie landlords want their rental income to cover their monthly mortgage, as well as taxes and insurance. Times may have changed since you bought, so you want to be clear on what the market will bear.

Screen tenants carefully

You’ll want to check potential tenant’s employment history, credit history, and income (via pay stubs or tax returns), as well as references from past landlords if possible.

To add an extra layer of security, you can do statewide and federal background checks at places like the National Tenant Network, which has been screening tenants since 1980, to make sure potential renters don’t have a checkered history elsewhere.

Decide whether to manage your property yourself or hire help

It may be tempting to manage your property yourself when you consider that property managers typically charge 4% to 12% of the monthly rental. But that might be a small price to pay for avoiding headaches with your rental.

Pick the right property manager

Picking a property manager isn’t just about finding one with the lowest fees. Fees are important, but don’t let that be the sole deciding factor. For instance, what are the property manager’s hours? If they’re available only during weekday business hours and a pipe bursts on the weekend, you may get stuck with coming to the aid of your tenant yourself. What happens if rent isn’t paid on time—will they pursue the matter? If not, you may get stuck chasing down your money, which rather defeats the purpose of having a property manager at all.

Also make sure that the property manager—and you yourself—are committed to keeping up on local laws. Laine cites a recent case when the local municipality enacted laws that hold landlords liable for bedbugs.

Because at the end of the day, hired help or no, the buck stops with the landlord, literally.

The last step is to call us to find out how we can help you with all of the above. We could already have a tenant for your property.

Jame Silver

Team Leader & Associate Broker

James Silver Team, Michigan & Florida

(248) 530-7292 | JamesSilver@kw.com

This Month in Real Estate – July 2016

We are dedicated to making sure you have the most up-to-date information about your biggest investment – real estate. Check out this info-graphic, to get the latest “what’s up” in real estate. It’s time to get your home sold!

Call us today to see how we can get it sold! We look forward to working for you.

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Looking To Lease With Bad Credit?

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Credit reports and credit scores permeate more facets of life than you might think. Landlords, for one, typically check credit when trying to decide who to lease their apartments to. So, yes, if you have a big, juicy error on one of your credit reports, it could cost you a truly awesome—and affordable—housing.

Fortunately, you can get this error addressed before you start searching for some new digs. Unfortunately, it may take a bit more legwork than you think.

What’s a specialty credit report?

Specialty reports typically list property rental addresses for the previous seven years, rental payment performance history (i.e., on time, late, delinquent), average length of past rentals, pet ownership, cleanliness of living conditions, reason for renting (e.g., foreclosure or never owned a home), civil court records, criminal background check, financial credit reports, past evictions, tenant history scores, and lease risk scores.

So, if you find yourself consistently losing out on a great place, it may be time to do some deeper digging.

So what do I do?

It’s not a bad idea to pull all three versions of your credit report from the three major credit-reporting agencies—Equifax, Experian, and TransUnion—ahead of your apartment search. You don’t want errors on these anyway, and, as mentioned, there is a chance a landlord will look at one of these reports to assess your ability to pay rent as agreed. (You can pull your credit reports for free each year at AnnualCreditReport.com and view your credit scores for free each month on Credit.com.)

If you do spot an inaccuracy, make sure to dispute it with the credit bureau in question. You can send a dispute letter by mail or file one online.

You might also want to see if you can track down one of your specialty renters’ reports. Under the Fair Credit Reporting Act, you are entitled to a free copy from each bureau once a year. Here’s a list of the major players.

  1. Contemporary Information Corporation
    800-288-4757 (option 5)
  2. CoreLogic SafeRent
    888-333-2413
  3. Experian RentBureau
    877-704-4519
  4. First Advantage Corporation Resident History Report
    888-215-3727
  5. LeasingDesk by Real Page
    866-934-1124
  6. Screening Reports
    866-389-4042
  7. Tenant Data Services
    800-228-1837 (option 6)
  8. TransUnion Rental Screening Solutions
    888-387-1750

Again, if you spot an error, be sure to dispute it with the agency. Information on how to do so should be available on your report or the company’s website.

Remember, too, if you are denied an apartment due to bad credit, a landlord is required to give you a copy of the report they used in their decision-making process, so, at the very least, you should be able to spot an error from there. You could also potentially ask the landlord ahead of time what bureau he is getting the credit report from. That may not give you enough time to address any issues to score that particular place to live, but it could help you prevent problems in the future.

And, if you learn your credit is in rough shape due to legitimate negative information, there are steps you can take to fix your credit. You can build solid credit, specialty or otherwise, in the long term by paying all bills on time (including your rent!), keeping debt levels low, and limiting new credit inquiries while your score rebounds.

Content Courtesy of Realtor.com

James Silver

Associate Broker | Team Leader

The James Silver Team in Michigan & Florida

248.530.7292 | JamesSilver@KW.com

www.JamesSilverTeam.com

11 Cheap Decor Ideas That Will Make Your Rental Feel Luxuriously Cozy

The only thing worse than the hopelessly thin, sterile walls that come with a new rental is the long list of “don’ts” you get from your landlord, essentially forbidding you to make changes of any sort.

How, exactly, are you supposed to make a space your own without forgoing your security deposit? Well, you gotta work around the restrictions.

You might not be able to paint the walls, change the boring kitchen cabinets, or replace the dated bathroom tile. But there are a few other tricks you can employ that will turn a rental into a warm home, regardless of how long you’re staying. Check out these clever decor ideas.

1. Removable wallpaper

Peel-and-stick wallpaper, which is easy to remove, is every renter’s dream. There are tons of companies making versions of this, so you’re sure to find one that fits your style. Transform all of your walls, create a statement wall, or disguise beat-up cabinets, all in a day’s work. Plus, at $30 to $60 a roll, it’s completely affordable!

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2. Stick-on tile

We love stick-on tile because it’s multipurpose, easy to use, and full of personality. Create a faux headboard, change up your kitchen backsplash, retile your bathroom, and more—the possibilities are endless. Plus, you can mix and match the designs to create your own unique look. Then, when it’s time to move out, simply take them down and no one will ever be the wiser.

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3. Gallery wall

Nothing will make you feel more at home than being surrounded by the people, places, and things you love.

Pick a prominent spot in your space and create a gallery wall with photos of family, shots of favorite places, or memories from your travels—anything that puts a smile on your face. The secret to getting it right is balance: Pick an anchor piece and place it in the middle, then work around it.

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4. Fabric drapings or painted plywood

No, we aren’t just talking about those fluttery bohemian weavings (although we love those, too!). Swath a wall in a piece of fabric you love, or paint a sheet of plywood in the color you wish you could paint your walls, then mount it from floor to ceiling and you’ll barely tell the difference. This may create a little extra cleaning work—it tends to collect dust—but it’s totally worth it.

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5. Area rugs

There are two things that instantly warm up a home: an area rug and curtains (more on that later). A bold area rug will completely reinvent those old, cold bare floors. Plus, it can help you create natural boundaries to set apart “rooms” if you’re in a studio or smaller apartment.

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6. New hardware

Knobs or handles on cabinets, drawers, doors (or really anything) can easily be switched out. Replace the standard ones with an elegant bronze pull, a charming painted one, or a quaint crystal knob. Don’t be afraid to have fun with it—just be sure to keep the original ones so you can switch them back when you move.

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7. Statement pieces

We’re not telling you to ditch the Ikea stuff entirely—not everything has to be your forever furniture. But if you want to up your decor game, try investing in at least one piece you love—a cool side table, a patterned chair, a great light—something that represents your personality. You’ll feel a lot more at home, and that will radiate through your rental.

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8. Good lighting

Do not—I repeat—do not live with only fluorescent lighting overhead. Simply put: It’s unflattering for you and your home. Opt for  incandescent bulbs to cast a soft, warm light. Find some beautiful lamps and place them abundantly throughout your home. Your eyes—and your visitors—will thank you.

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9. Quality linens

Nothing will bring you back to college faster than using cheap sheets, blankets, and towels in your apartment. Think of linens as an investment: Get sheets with a high thread count, a comforter you love, and ultra-soft and big bath towels. Besides, you’ll use this stuff every day—so why not make it feel like your own private boutique hotel?

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10. Curtains

Curtains are like paint—they’ll completely change the look of your space. Although any curtain will immediately give your rental a finished look, decide what you want them to do for you. Are you using them to block your neighbor’s view? Are they adding color, texture, or print to the space? Both? Select a fabric that works best for your needs, and then choose the look you want.

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11. Candles

Many rentals don’t have fireplaces, but that warmth can still be re-created with candles. If you have the room, create a faux fireplace—buy different-sized (but same-colored) candles and arrange them near a wall in your apartment.

So, yes, you can make a rental feel like it’s truly yours—it just takes a little creativity and some strategic decorating.

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Call us today to get your property leased! If you are looking for a lease, check out our inventory of rentals here.

Content courtesy of Realtor.com

James Silver

Associate Broker | Team Leader

The James Silver Team in Michigan & Florida

248.530.7292 | JamesSilver@KW.com

www.JamesSilverTeam.com

This Month in Real Estate – June 2016

We are dedicated to making sure you have the most up-to-date information about your biggest investment – real estate. Check out this info-graphic, to get the latest “what’s up” in real estate. Its time to take measures to get your home sold today!

Call us today as the first measure. We look forward to working for you!

 

 

The 20 Hottest Real Estate Markets in May 2016

Ann Arbor and Detroit are hot markets! Are you ready to sell or buy? Call us today to find out how much your home is worth or to get set up on a search for your dream home, risk free!

James Silver

Associate Broker | Team Leader

The James Silver Team in Michigan & Florida

248.530.7292 | JamesSilver@KW.com

www.JamesSilverTeam.com

Content courtesy of Realtor.com