15 E. Kirby, Detroit, MI 48202 - Elegant Park Shelton Condo ($214,900)

Elegant Park Shelton top floor corner unit with spectacular views of the downtown Detroit skyline and beyond. Home features exotic hardwood floors throughout, custom window treatments, faux fireplace and tons of natural light. Building has 24hr doorman, fitness center, rooftop deck with community room. Association fees include water, heating, cooling and electricity.

Listed for sale at $214,900
1 bathroom, 1,126 sq ft

MLS# 28157333

Austin Black II - Listing Agent

Max Broock Realtors

313.550.2307

austin@austinb2.com

www.austinb2.com

Countdown to the opening of the Westin Book Cadillac

After two years of construction, renovations at the Westin Book Cadillac are coming to an end and will soon be bustling with hotel guest, events and residents.

The Detroit Athletic Club and Urban Land Institute hosted their annual downtown Detroit walking tour Tuesday, September 16. Featured on the tour were various sculptures downtown and the Westin Book Cadillac.

Below is one of the historic ballrooms that has been restored.

A soft opening of the Westin is planned for October 1 with the grand opening scheduled for later in the month.

Sad and historic day in Detroit's history

September 4, 2008 will forever be known as a historic day in Detroit's political landscape.  The youngest mayor in the city's history resigned from office after an 8-month scandal that rocked city government and led the headlines daily. Although it seems the debacle is coming to an end, this is by no means is a time for celebration.

Mayor Kilpatrick was the youngest mayor elected in the city's history in 2001. When he entered office, he promised "revolutionary" changes to the city. Some of the Mayor's accomplishments include the RiverWalk, the Westin Book Cadillac hotel and condominiums, new residential developments throughout the city and property tax relief for Detroit's neighborhoods. 

As a Detroit resident and advocate of the city's revitalization, I supported the Mayor's vision and recognized his accomplishments. At the same time the events that have unfolded this year have been a major distraction and damaging to the city. Closure is necessary for us as a city, region and state to move forward.

Mayor Kilpatrick cannot blame anyone but himself for the situation he is in today.

My thoughts and prayers go out to Mayor Kilpatrick, Christine Beatty, their families and the city of Detroit.  

Detroit's Motto: "Speramus Meliora; Resurget Cineribus" – "We Hope For Better Things; It Shall Rise From the Ashes"

2602 Woodward Ave., Detroit, MI 48201 - Brush Park Townhouse ($209,900)

Priced to sell! Two bedroom, two bath, premium end unit condo is located within blocks of Comerica Park and Ford Field. Home features spacious master suite with walk-in closet and sitting area, jetted tub, balcony, fireplace in the great room, new carpet and paint.

Listed for sale at $209,900
2bedrooms, 2 bathrooms, 1,753 sq ft

Austin Black II – Listing Agent
Max Broock Realtors
313.550.2307
austin@austinb2.com
www.austinb2.com

300 Riverfront Drive - Riverfront Condo for Sale ($139,900)

Live 26 floors above the city. Enjoy calming waterfront and skyline views in this one bedroom, turn-key condo with all of the amenities of a resort, conveniently located in downtown Detroit. Recently renovated home includes all appliances, granite counters and indoor parking. Community features a market, restaurant, fitness center, marina and People Mover access.

Listed for sale at $139,900
1bedroom, 1 bathroom, 553 sq ft

MLS# 28128959

Austin Black II – Listing Agent
Max Broock Realtors
313.550.2307
austin@austinb2.com
www.austinb2.com

78 Watson, Detroit, MI 48201 – Brush Park Loft for Lease ($1,250/month)

This phenomenal Midtown loft has exposed brick, hardwood floors, generous walk-in closet and a spacious bathroom. Loft also includes a large great room with gourmet kitchen and stainless steel appliances, in-unit laundry, heated floors a private deck with great views of the downtown skyline.

Live within walking distance to Zaccaro's gourmet market, Comerica Park, Ford Field and the downtown entertainment district.

Listed for rent at $1,250/month
1bedroom, 1 bathroom, 1,282 sq ft

MLS# 28141482

Austin Black II – Listing Agent
Max Broock Realtors
313.550.2307
austin@austinb2.com
www.austinb2.com

Attention first-time home buyers, you may qualify for a tax credit up to $7,500!

To stimulate the housing market, legislation was recently passed to provide tax credits for up to $7,500 for first-time home buyers.

First-Time Home Buyer Tax Credit Facts

Who is Eligible?

The $7,500 tax credit is available to all first-time home buyers who are tax filing U.S. Citizens. The law defines a first-time home buyer as a buyer who has not owned a home during the past three years.

Income Limits

Home buyers who file as a single or head-of-household taxpayer can claim the full $7,500 credit if their adjusted gross income (AGI) is less then $75,000. If their income is between 75,000 and 95,000 they are eligible to receive a partial tax credit. If the household earns greater then $95,000, they are not eligible to receive the tax credit.

Married couples filing joint returns earning up to $150,000 can receive the full tax credit. Households earning between $150,000 and $170,000 are eligible to receive partial tax credit. If the household is greater then $170,000, they are not eligible to receive the tax credit.

Effective Dates for the Tax Credit

First-time home buyers who purchased a home on or after April 9, 2008 and before July 1, 2009. To qualify, you must actually close on the sale of the home during this period.

Tax Credit is Refundable

A refundable credit means that if you pay less then $7,500 in federal income taxes, then the government will write you a check for the difference. For example, if you owe $5,000 in federal income taxes, you would pay nothing to the IRS and receive a $2,500 payment from the government. If you are due to receive a tax refund from the IRS, your refund would increase by $7,500. If you purchased your home in 2008 you would take your tax credit in 2008. If you buy in 2009, you have the option to claim the credit on your 2008 or 2009 tax return.

Types of Homes that Qualify for the Tax Credit

All homes, weather a single-family or condominium will qualify, provided, that the home will be used as a primary residence and the buyer has not owned a home in the prior three years. This also includes newly-constructed homes.

Payback Provisions

Unlike most tax credits, this tax incentive MUST be paid back. All eligible purchasers who claim the credit will be required to repay it over 15 years. The status specifies that the repayment amount will be 6.67% of the credit amount each year. Thus, a buyer who qualifies for the full $7,500 credit will repay $502.50 each year. There will be no interest charge on outstanding balances.

Source: John Adams Mortgage Company, an affiliated company of Max Broock Realtors and Real Estate One