45609 Village Blvd. Shelby Twp.

MI 48315

(586) 532-0500 Tom Kotzian - Team Leader
May 2012 edition

Lakeside Market Center

LEGAL UPDATE
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 exemption status on foreclosed properties. Buyers can qualify at the lower rate of taxation on the many foreclosed properties 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 is winding down for homeowners who want to ensure they aren’t hit with a big tax bill because they had to walk away from a mortgage obligation. The Mortgage Forgiveness Debt Relief Act is set to expire December 31, 2012. Simply stated, if a homeowner borrows money for their principal residence (up to 2 million) from a bank or commercial lender and the lender cancels or forgives the 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 debt forgiveness. (Notice: associates must not provide tax advice, but recommend the services of an attorney or CPA on this subject.)

CONGRATULATIONS KELLER WILLIAMS LAKESIDE FOR 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 units in April. Roger Bannister ran, what was considered impossible, a mile in under 4 minutes in 1954. After he broke the record, others were able to also run the mile in under 4 minutes. Until Roger's record setting pace, no one 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 our market center for the month of April. You have generated $22,000 in profit share for the first four months of the year. That is something you can 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!

Community Events
2012 Annual CE Course
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 2012 Continuing 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 FREE Continuing Education Course offered by our company this year. It has been approved for 2012 CE credit by the 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.

At Keller Williams Lakeside Market Center “Agents Are Partners”

Keller Williams Lakeside welcomes Sean Yousif and Ron Ronse, two great experienced
agents. 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 Kotzian
Team Leader

Education Schedule
MAY
2 4 8 BOLD - All Day Livonia SALES BASICS - The Listing Agreement (10A -12P) BOLD - All Day Livonia

Keller Williams Lakeside 2011 Agent Profit Share
Our office shared $57,731 of company dollar in 2011 with agents...our goal is to share $100,000 in 2012. Let us help you grow your profit share tree!

11 SALES BASICS - Agency Law (10A -12P) 16 BOLD - All Day Livonia 18 SALES BASICS - Leases (10A -12P) 23 BOLD - All Day Livonia 25 SALES BASICS - Closing Statements (10A -12P)

2011 Volume - $119,000,000 Units - 1,400 Agents 135 Listings- 1,000 CULTURAL AWARD RECIPIENT
Congratulations to Janine Seeley from our Agent Services Department on being selected our Cultural Award Recipient for the month of May. The award recognizes those individuals who contribute valuable services to our market center through many acts of random kindness. Selection is voted on by the Keller Williams Lakeside ALC ( Associate Leadership Council ). Janine’s dedication, commitment, and hard work is recognized by all who know her. She unselfishly gives her time and energy to helping others, which is very fitting to her previous profession as an elementary school teacher. We applaud Janine for this honor and welcome her back to the office after a brief absence.

JUNE
1 4 8 Workshop: Personality Styles (10am.—12pm.) Power Hour (9am.) Workshop: Sphere of Influence (10am.—12pm.)

11 Power Hour (9am.) 15 Workshop : Effective Floor Time Skills for Appointments

(10am.—12pm.)
18 Power Hour (9am.) 20 2012 Annual Continuing Education (Includes Mandatory NAR Quadrennial Code of Ethics Training) (8:30 am. - 3:30pm.) Concorde Inn - Clinton Twp. 22 Workshop: Negotiating Contracts (10am. - 12pm.) 25 Power Hour (9am.) 29 Workshop: Contract Contingencies & Conditions (10am. - 12pm.)

“Way to go Janine!”

Keller Williams Regional AWARDS BANQUET

GREAT JOB EVERYONE

Lakeside Market Center

Keller Williams LAKESIDE Profit Shared $57,731 in 2011.. Ask Tom Kotzian how you can get your share! (586) 532-0500

Chili Cook Off!

Congratulations to our current winner Carol Provenzano With past winner Rick Hovarter

WINNING Chili Recipe Southwestern Chicken Chili
48 oz. northern beans 4 cups sour cream 2 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 cheese Dash 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!

INVESTMENT WORKSHOP
By Dave Klaft

Carol Provenzano

Keller Williams Lakeside Tom Kotzian - Team Leader (586) 532-0500

WHAT IS RED DAY?
RED DAY ( Renew Energize and Donate) is an initiative dedicated to celebrating Keller Williams Realty’s 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 Realty’s 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 Lakeside’s 3rd year in a row partnering with Habitat for Humanity.

Photos from Keller Williams Lakeside RED DAY MAY 2011!

How You Can Help The Appraiser And Close The Transaction
The recent MAR Broker Summit in April offered a glimpse into the world of appraisers from an inside perspective. Two appraisers and a mortgage specialist conducted an extremely informative panel style program. Several of these speakers will address our company 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 appraiser’s 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 ultraconservative 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 it were foreclosed one year from now?” A stable market gives them more latitude.

The Trouble Tree
Author unknown The Carpenter I hired to help me restore an old farmhouse had just finished a rough first day on the job. A flat tire made him lose an hour of work, his electric saw quit, and now his ancient pickup truck refused to start. While I drove him home, he sat in stony silence. On arriving, he invited me in to meet his family. As we walked toward the front door, he paused briefly at a small tree, touching the tips of the branches with both hands. When opening the door he underwent an amazing transformation. His tanned face was wreathed in smiles and he hugged his two small children and gave his wife a kiss. Afterward he walked me to the car. We passed the tree and my curiosity got the better of me. I asked him about what I had seen him do earlier. “Oh, that’s my trouble tree,” he replied. “I know I can’t help having troubles on the job, but one thing’s for sure, troubles don’t belong in the house with my wife and children. So I just hang them on the tree every night when I come home. Then in the morning I pick them up again.” He paused. “Funny thing is,” he smiled, “when I come out in the morning to pick ‘em up, there ain’t nearly as many as I remember hanging up the night before.”

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