Yesterday the Michigan legislature passed and it was signed by Governor Rick Snyder to bill that extends the filing of your homestead exemption in Michigan. Up until yesterday if you were buying a home in Michigan, you had to file your homestead exemption by May 1st.
When is our busy home buying season in Michigan ? Duh summer….So many buyers had to wait a year to file if the home was NOT already homesteaded.
The new law, Senate Bill 349 affords a home buyer to file twice a year before June 1st or on November 1st. The other part of the law that is great for Ann Arbor Area home buyers is that if a seller lost their home in a foreclosure the homestead exemption on that property will REMAIN on the property.
Thinking about buying a home in Ann Arbor, start your Ann Arbor home search here with a direct Ann Arbor Area MLS feed, so the data is accurate. Come on I know you are tired of finding the homes for sale on Zillow, Trulia and Realtor.com are already sold.
Regardless, inventory is low, so be ready to write when you find the house you love.