Are You Entitled to a Sizable Tax Refund on Your Southeast Michigan Home?

Southeast Michigan Real Estate Podcast with Derek Bauer

Southeast Michigan Real Estate Podcast with Derek Bauer

28:24

In our second installment of the Small Business Starter Kit series - we’re tackling a topic that’s sometimes tricky, sometimes confusing, but ever-present: taxes. Hosts Austin and Jannese have an insightful conversation with entrepreneur Isabella Rosal who started 7th Sky Ventures , an exporter and distributor of craft spirits, beer, and wine. Having lived and worked in two different countries and started a company in a heavily-regulated field, Isabella is no stranger to navigating the paperwork-laden and jargon-infused maze of properly understanding taxes for a newly formed small business. Join us as she shares her story and provides valuable insight into how to tackle your business’ taxes - so they don’t tackle you. Learn more about how QuickBooks can help you grow your business: QuickBooks.com See omnystudio.com/listener for privacy information.…

9 years ago

MP4•Episode home

Want to sell your Michigan Home? Get a FREE home value report

Want to buy a Michigan Home? Search all homes for sale

Recently, a change in law went into effect that will impact a lot of people in Southeast Michigan. In fact, in the last few days, I was able to tell three different people that they have refunds owed to them in the amount of $2,000 and $3,000.

This law change affects anyone who has sold, or plans on selling, real property that is homesteaded in the last four years in Michigan. In late 2015, the governor signed a public act that changed what was a rather confusing exemption to a law. In Michigan, we pay taxes when real property changes hands to both the state and the county. In Southeast Michigan, it is typically paid by the seller.

To give you an idea of what kind of money we're talking about: on a $250,000 sales price, the amount paid is around $2,000; on a $500,000 sales price it's around $4,000, and so on. A further resource to seek out to get this refund is www.DoorToDreams.com/TaxRefund.

A lot of people are owed a lot of money because of this law change. As I said before, in only the last few days I was able to inform three people that they were owed a refund between $2,000 and $3,000. If you've sold a homestead property recently, you want to take a look at the State Equalized Value (SEV) of the property. If it is lower in the year that you sold it than the year you acquired it, and the property was your primary residence, you could qualify for this refund.

If you're a client of ours and you have sold with us in the last four years, we will be contacting you to help you through the process. We look forward to giving you the good news that you're owed some money! Of course, if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to hear from you!

17 episodes

#Real #Estate #Top #Local #Find #Michigan #Home #Selling #Tips #Process #Property #Search #Prope #Derek Bauer #Video #Podcasting Education #Sales #Agent #House #Buy #Finders

Are You Entitled to a Sizable Tax Refund on Your Southeast Michigan Home?

published 9 years ago

MP4•Episode home

Want to sell your Michigan Home? Get a FREE home value report

Want to buy a Michigan Home? Search all homes for sale

17 episodes

#Real #Estate #Top #Local #Find #Michigan #Home #Selling #Tips #Process #Property #Search #Prope #Derek Bauer #Video #Podcasting Education #Sales #Agent #House #Buy #Finders

Kaikki jaksot

1
The Best Remodels for Resale Value

8 years ago

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Major upgrades and improvements aren’t always necessary. There are simple upgrades you can make that will help sell your home and won’t break the bank. Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale I hope 2017 has gotten off to a great start for you. I wanted to drop by today to talk to you about what you can do to invest in your home. A lot of homeowners want to make repairs and remodels before they sell, but they don’t know which repairs they should avoid and which ones will add the most value. If you have plans to remodel and want to make sure what you do is good for resale purposes, that’s a great idea. The first thing you’ll need to accomplish this is expert advice. That’s where we come in. It’s true that kitchens and bathrooms are a big deal to buyers. However, don’t make the mistake of over-improving them. The additions you make will only return 55% to 65% of what you put into the project. "It’s true that kitchens and bathrooms are a big deal for buyers." However, if you do a minor renovation to a kitchen or bathroom, such as adding a new tile backsplash or a vanity, you’ll recoup 75% to 85% of that investment on average. Sometimes, we don’t even need to go that far. Often, a little bit of freshening up, whether that involves adding some lighting or replacing the counter, will net you the most positive return on investment. Some other places where you can get 90% or more of your money back include entry doors, garage doors, and adding insulation. I have two clients right now who are getting ready to list in the next few weeks. The return on investment they will see from what I recommended is going to be three to 3.5 times what they put into it. If you have any questions about your specific real estate situation or have any real estate questions in general, give me a call or send me an email. I look forward to hearing from you.…

1
Merry Christmas and Happy New Year

8 years ago

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Another year is almost behind us. Today, I would like to take a moment to thank you for your support and wish you a happy holiday season. Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale It’s hard to believe that another year is almost behind us. Today, I want to wish you and yours a happy holiday season. To those of you who we were honored to serve this year and to those who were kind enough to send us referrals, we appreciate it. We don’t take it for granted. We work very hard to exceed expectations, so we truly appreciate all of your referrals. If you are thinking about buying or selling next year, give me a call. I would be happy to talk to you. To that end, I hope you all have a wonderful end of the year. Happy holidays, and I’ll see you in 2017.…

1
A Testimonial On Selling A Home For Top Dollar

8 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale Do you want to sell your Southeast Michigan home for the most money the market will bear? That is exactly what we want for you, and we will work very hard to make it happen! See what just one of our hundreds of clients is saying about their experience with us and our exceeding their expectations.…

1
What Buyers Shouldn’t Say During Home Showings

8 years ago

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In Michigan, homeowners can legally record potential buyers who tour their home. As a buyer, there are a few things you should avoid saying if you want that house. Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale Today I want to give some advice about what a buyer should and shouldn’t say when touring a house here in Michigan. I should preface this by saying that I’m not an attorney; I cannot give you legal advice. That said, as of early October, it is legal in Michigan for a homeowner to record buyers who tour their homes. They can record you using video or audio tapes, so keep that in mind when you’re walking through a house. I’ve seen people use baby monitors to record buyers, but more recent technology makes it easier for homeowners to record people in their homes. When you walk through a home you want to buy, I recommend that you avoid making any comments that insult the house or the decor. As you look at other homes, it may come to pass that the property with the bad decor is the one you want to buy. When it comes time to make an offer, you could be in a bad position if you have offended the seller with your comments. “ Don’t insult the house but don’t sound too excited, either. ” On the other hand, you wouldn’t go into a car dealership and get all excited about the car you want to buy, right? Being too excited would impact the price you pay for the car. The same holds true for a house. If you walk through the house talking about how awesome it is and how it’s a great fit for your family, those comments will probably impact your agent’s ability to negotiate on your behalf. Keep in mind that the seller is not doing anything illegal by capturing your feedback on tape, so be careful what you say when you’re out touring houses. If you have any other questions about home showings or the home buying process, give me a call or send me an email. I would be happy to help you!…

1
The Perfect Online Tool for Homeowners

9 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale I don’t know about you, but September and October are a few of my favorite months of the year. The sights, sounds, and flavors of fall are all things that I love. Another thing I love is not having to pay high utility bills from using a heater or air conditioner like I do the rest of the year. This reminded me of a tool I recently found. This website is called wegowise.com , and it’s free to use. You can import your utility and power bills into the site through your online accounts and it will pull up many detailed graphs about your usage. This site will summarize your bills per month and break things down piece by piece. You can see how much you are spending month to month, and the price per square foot that you’re paying. There are a number of different charts and graphs for you to look at, as well as what’s considered an efficient home and where you fall into that piece of the puzzle. “ This is useful for anyone trying to save on their utilities. ” For landlords and commercial building owners, you can track each unit specifically to see if you may need to make an improvement or upgrade to a piece of equipment that is more efficient. I thought this was a pretty neat tool when I found it, and it’s something I wanted to bring up around this time of year when utility costs are lower. It’s fun for a frugal data geek like me or anyone else who’s trying to save a few extra bucks on their bills. If you have any questions for me, don’t hesitate to give me a call or send me an email. I’m always looking for new topics for future videos, so let me know what you want to learn about. I look forward to hearing from you!…

1
A Market Snapshot for Southeast Michigan

9 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale Through the first half of the year, sales are up a little over 3%. Average sales prices are up a little over 6%. The interesting thing is that inventory is down 19%. The fact that sales and prices are up by small margins is a large indicator that this crazy seller’s market that we’ve been in the last couple of years is probably coming to an end. Looking at the Michigan housing affordability index, our index currently sits at 180. To provide some context, an index of 100 means that the median family can afford the median home. An index of 80 means that the median family can’t afford to purchase this same home. Historically, Michigan’s number has stayed level at around 135. At the peak of our recession, our number reached 210. As we trickle down toward the 130 to 140 mark, what it’s going to take to get level again is interest rates in the low-to-mid 5% range and housing values to potentially increase another 10% or so. "This gravy train sellers have been on is likely coming to an end." Another interesting point is that 89% of homes in Michigan have positive equity, and 72% have 20% equity or more. We may have one more spring like we’ve had with competing offers and low inventory, but by and large I think this gravy train sellers have been on for the past three or four years is ending soon. If you’re thinking about selling and aren’t sure whether it’s a good idea to pull the trigger now or to wait until next spring, give us a call and we’d be glad to help walk you through it. Until next time, make it a great day.…

1
The Problem with Overpricing Your Southeast Michigan Home

9 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale What’s the problem with pricing your home high if you plan to come down later? Market data shows that this pricing strategy does not pay off. First, you should know that buyer activity is very high right now , and homes are selling very quickly. In the Midwest, home prices increased by 6.3% year over year, and there are plenty of areas in Detroit where appreciation is even higher than that. Right now, the $250,000 to $500,000 price range is hot, and has seen a 17.5% increase in sales since last year. If you have a house in that price range, now is the time to sell. You’ll have a line of people waiting to see your property “ PRICE YOUR HOME ACCURATELY FROM THE VERY BEGINNING. ” In this price range, accurately priced homes sold for 98.9% of the list price and spent only 22 days on the market. However, overpriced properties only earned 92.4% of the list price and spent 81 days on the market. O verpriced properties took four times as long to sell compared to accurately priced ones! Avoid a stale listing and missing out on earning top dollar by pricing your home accurately. If a house is on the market for over a month and a half, people start to assume that something is wrong with it because most good properties sell very quickly. Purposely overpricing your house is not in your best interest. If you have any questions, give me a call or send me an email. I would be happy to help you!…

1
Home Pricing in Southeast Michigan Is About to Change

9 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale Today, I want to talk about the future of home pricing . For decades, homes have been priced the same way. Realtors look at comparable homes and run a Comparative Market Analysis. Part of that is a necessary evil. When I meet with a prospective seller, I like to focus on absorption rates, what’s coming on the market, days on market , and other factors. These factors give sellers a better perspective and insight compared to basic questions about bedrooms, bathrooms, and price per square foot. Home buyers have shifted their focus from bedrooms, baths, and price to lifestyle, affordability, and commute times. In recent years, buyers purchase a home to suit their lifestyles. Right now, companies are creating algorithms to calculate the true cost of ownership. These algorithms will take factors like the age of the home, features, and mechanics to figure out the cost of ownership. That’s just one factor these new algorithms will take into account. A buyer can search for homes based on mortgage insurance, school quality, and proximity to favorite recreational hangouts. These pricing models will allow users to manipulate the algorithms by selecting properties and adjusting for market activity in their desired area. You can also search for the cost of home ownership, projected expenses, location, market activity, and the condition of the property. For example, let’s say you purchase a home with a new roof that will last for 30 years and plan on living there for 10 years. That’s less expensive than buying a home with a 15 year old roof that’s designed to last for 30 years. You will probably have to spend more money on roof upkeep. You may even have to replace it, raising your cost of ownership. This technology is very new. I’m going to stay on top of it and direct you to it once it’s working well. I’m very excited about this new technology. If you have any questions, give me a call or send me an email. I would be happy to help you!…

1
Are You Entitled to a Sizable Tax Refund on Your Southeast Michigan Home?

9 years ago

—

Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale Recently, a change in law went into effect that will impact a lot of people in Southeast Michigan. In fact, in the last few days, I was able to tell three different people that they have refunds owed to them in the amount of $2,000 and $3,000. This law change affects anyone who has sold, or plans on selling, real property that is homesteaded in the last four years in Michigan. In late 2015, the governor signed a public act that changed what was a rather confusing exemption to a law. In Michigan, we pay taxes when real property changes hands to both the state and the county. In Southeast Michigan, it is typically paid by the seller. To give you an idea of what kind of money we're talking about: on a $250,000 sales price, the amount paid is around $2,000; on a $500,000 sales price it's around $4,000, and so on. A further resource to seek out to get this refund is www.DoorToDreams.com/TaxRefund . A lot of people are owed a lot of money because of this law change. As I said before, in only the last few days I was able to inform three people that they were owed a refund between $2,000 and $3,000. If you've sold a homestead property recently, you want to take a look at the State Equalized Value (SEV) of the property. If it is lower in the year that you sold it than the year you acquired it, and the property was your primary residence, you could qualify for this refund. If you're a client of ours and you have sold with us in the last four years, we will be contacting you to help you through the process. We look forward to giving you the good news that you're owed some money! Of course, if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to hear from you!…

1
What You Need to Know About Southeast Michigan Property Taxes

9 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale We're in early January, and in the next couple weeks, your 2016 tax assessments will come in. Now is a great time to identify what to look for when you receive those documents. For example, let's take a look at a summer and winter tax bill for a property here in Michigan. We pay property taxes twice a year, and each bill covers a 12 month period. If you look in the upper left-hand corner, you will see the taxable value of your property. In this case, that value is listed as $135,193. On these bills, you can see that the summer tax bill was about $3,300, and the winter tax bill was about $1,400. This property happens to be homesteaded. If you have a vacation home, cottage, or rental, you will see school operating taxes on the summer tax bills. If you feel that should not be the case, contact me. Now, if you add together the winter and summer bills, the total tax bill for the property is around $4,600. To cross reference that, go to my website, DoorToDreams.com . There will be a link that says MI Tax Property Estimator. From there, enter the taxable value of your home. If we enter the taxable value of this particular property, $135,193, the tax estimator comes up with $4,400 a year. This is a little lower than the $4,600 in taxes that are being paid on the property, but this estimator will give you a good idea of what your taxes will be. If you're looking to buy a home, you can figure out what the taxes might be ahead of time. Let's say you're looking for a $300,000 home. The taxable value will be about half that, or $150,000. You can enter that information into my website to find out what your property taxes will be. For current homeowners, when you receive your 2016 assessment, look at that taxable number. If you double the taxable number, that will be your home value. If you feel that your home is worth less than that, contact me and I can help you. I know we covered a lot of information here today. If you have any questions, please do not hesitate to reach out to me. I would be happy to help you!…

1
Happy Thanksgiving!

9 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale We just want to take a quick moment to let you know how appreciative we are of our friends, our family, and our clients. We hope you have a safe and happy Thanksgiving! We will be saying a prayer of thanks this Thanksgiving. We want to wish health, wealth, happiness to you and yours! We look forward to seeing you soon!…

1
20 Fall Maintenance Tips for Your Southeastern Michigan Home

10 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale Today I have 20 different home maintenance tips for you as we head into the fall of 2015. I've divided them into 5 different categories, and these should make it easier for you to maintain your property. Preventative maintenance: - Check for peeling paint or cracked caulking and seal any breaks to protect surfaces. - Check your weather stripping and replace or repair it on entry or garage doors. - Seal driveway cracks. - Seal gaps between your house and any solid surface like a driveway or patio. - Caulk or seal any gaps where pipes or wires enter the house through the foundation, siding, windows, etc. - Clean out your gutters to prevent ice damming as we head into the winter. Furnace and Central AC tips: - Have your furnace checked and cleaned by a reputable HVAC contractor. - Turn your humidifier on for the winter - Reverse the dampers on your ductwork to get the most efficient airflow. Ideally you want to heat the lower levels of your home more than the upper levels. - Change the filters on your furnace and humidifier. - Change the direction of your ceiling fans so they spin clockwise in the winter and counter clockwise in the summer. - Put a board on your AC unit to prevent snow and ice from getting inside and damaging anything. General safety tips: - Make sure your fireplace is in safe working order. Hire a reputable company to check it for deficiencies. - Test and change the batteries in your smoke alarms and carbon monoxide detectors. Lawn maintenance: - Winterize your sprinkler system by the end of October. I recommend hiring a professional to do this for you. - Drain your hoses and exterior spigots by shutting them off from inside. - Make sure your snow blower is functioning properly. - Assure a proper, positive grade around your home so that melting snow is drawn away from your home. - Late fall is a great time to prune plants and trees. Ideally, any branches or stems should be 3 feet away from your home. If you have any questions or would like to know more about any of this, please don't hesitate to contact me! I look forward to hearing from you!…

1
How Can You Save Thousands of Dollars on Your Southeast Michigan Home?

10 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale Today we're going to be speaking about the difference between a 15-year mortgage and a 30-year mortgage. Let's say you have a loan amount of $250,000 that does not take into account taxes, insurance, or other fees. The monthly payment on a 15-year loan would be around $563 more than the 30-year loan, but an additional $317 would be going towards the principle. As you can see by looking at the graphs, by paying a little more in a 15-year loan, you actually pay $60,000 less in interest, and you also have a home that's paid for! Fifteen years into a 30-year loan, you would have paid $126,000 in interest, but you would still owe $161,000! That is a pretty substantial difference. A lot of people also say that you can write off interest in your taxes, so a 30-year loan is fine when compared to a 15-year loan. However, when we look at the numbers we can see that there is only a $500 difference in tax benefits, and you're paying $2,000 extra for the 30-year loan. Before securing a home loan, assess your financial position, goals, and be sure to look at things with a long-term perspective. Tightening your monthly budget and forgoing luxuries now may be the right decision to provide more financial freedom and less stress down the road. With all this being said, I am not an accountant and cannot offer you advice on this topic, but I just wanted to show you the difference between what happens in a 30-year loan compared to a 15-year loan. If you have any questions, please don't hesitate to contact me!…

1
Why Do You Need Title Insurance?

10 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale Today I'm going to speak about title insurance because a lot of viewers have been asking about it. It's a very important thing to have, so I'll be explaining it to you. Title insurance is an insurance that protects buyers and lenders against title claims that previous owners might bring against a current owner. It's important because it will protect you against liens that don't show up in a title search. Title insurance will protect you against dozens of financial problems that will not show up in a title examination of the property. You'll be protected against forgery, estate issues, bankruptcies, and past lawsuits, among others; it's the only thing that's going to protect your title to the property! The expense for title insurance is very minimal when you consider the fact that purchasing a home will likely be the biggest financial investment you make. Title insurance is a one-time charge that has the potential to save you thousands of dollars down the road. While the price varies by state, it is always worth it to protect yourself and your property! Essentially, title insurance makes sure that you're buying the home from the rightful owner. Title insurance is relatively inexpensive and it's easy to get coverage. There really is no reason why you should not be using it!…

1
What Home Buyers Are Looking for in Southeast Michigan

10 years ago

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Want to sell your Michigan Home? Get a FREE home value report Want to buy a Michigan Home? Search all homes for sale The weather is finally warming up here in Southeastern Michigan, and with it we're starting to see activity in the real estate market pick up. We have seen much of what we have expected so far in 2015, but inventory is still a little low right now, and we have a lot of demand from buyers that are looking for different kinds of homes. Here are some homes that buyers are looking for right now: Ranches, or homes with a 1st floor master bedroom valued above $250K Large lots that offer privacy Homes with open floor plans Buyers seem to be more concerned with the finish of a house, rather than the size, so we need more quality homes in this market Location is also important, so please contact us if your home is centrally located The point is that we need more homes listed in our market right now, and I firmly believe that sellers will have much less control over the market next year, so now is the time to sell and get top dollar on your home if you're serious about it. Please contact me if you are interested in selling this spring. I also want to take a moment to thank all of our valued customers, and to thank HOUR Magazine for naming me a Real Estate All Star for the fourth year in a row. It's tough to be in the top 1% of real estate professionals nationally, but it's important work and I enjoy what I do. None of this would would be possible without all of my wonderful clients. As always, refer to me with any of your Southeastern Michigan real estate needs. I'm always here to help!…

Southeast Michigan Real Estate Podcast with Derek Bauer

1
Simple Remodels On Your Home to Improve Its Value

10 years ago

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Buying a home? Check out our free home search: http://www.doortodreams.com/idx-search.php Selling your home? Check out our free home value report: http://MIHomeValuesOnline.com We're expecting to see record levels of remodeling in 2015, and this is because we're seeing a lot of move up buyers taking advantage of low interest rates. These move-up buyers have been investing in their homes over the years, so much so that the average spent on remodeling per year is at $1,900 dollars. Remodeling and staging go hand-in-hand, and we feel very strongly that these are two very important avenues in which you can get more money for your home. To see some examples of the work we've done and the results we've seen, please go to www.stagingresults.com . In a recent study, 53% of real estate agents said that their buyer clients would pay up to 20% more for a newly remodeled and properly staged home . The areas you need to be focusing on are living rooms, kitchens, and bathrooms. Buyers absolutely love to see remodeled kitchens and bathrooms , so investing money in those places is a wise choice because you'll probably see a large return. These things can usually be accomplished for $3,000 or less depending on the size of your kitchen, and you could usually expect to see an extra $7,000 in exchange. That's a 230% ROI. The same goes for new paint. It can really change the feel of your home, and for $20 per can you could add up to $2,000 to the value of your home . We prefer using light and bright colors because they make the home feel more roomy and they tend to make potential buyers more comfortable inside. If you're selling your property in Southeast Michigan and aren't quite sure how to spruce it up for extra cash at closing, then please do not hesitate to contact us. We have the resources and the know-how to get your home sold for more money and in less time. Thanks for watching, and as always, please refer to us with any questions you may have about the real estate market in Southeast Michigan.…

Southeast Michigan Real Estate Podcast with Derek Bauer

1
Southeast Michigan Real Estate Market Update

10 years ago