Real Estate Agents Unlock Secrets of the Ingham County Land Bank – Maggie Gerich
On this episode of The Closing Table, we sat down with Maggie Gerich!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Maggie Gerich…
The conversation began with a fill-in-the-blank icebreaker on why you should buy a home, what makes clients more comfortable, and more. When asked about her identity outside of the real estate realm, Maggie Gerich proudly embraces her inner nerd. However, her life extends far beyond this label. In addition to being a dedicated professional, Maggie is a loving spouse and a parent to three wonderful children. Beyond her family, she finds joy in various activities that truly define her character.
Based in East Lansing, Michigan, Maggie Gerich’s real estate expertise extends beyond a single location. She is dedicated to serving the entire greater Lansing area, offering her knowledge and commitment to clients seeking their ideal homes or investment opportunities. With her wealth of experience and passion for connecting people with their dreams, Maggie is a trusted partner in the real estate journey.
Kevin then asked about the Ingham County Land Bank which as Maggie explained is not your typical bank for financing. Instead, it is a county-based organization that originated in response to a high number of foreclosure properties. The Ingham County treasury recognized the need to address these properties and established the Land Bank. Their primary responsibility is managing vacant land and properties that have been demolished. Additionally, they acquire properties that do not sell at tax auctions, effectively becoming a “bank of properties” rather than a financial institution. The Land Bank applies for grants to fund both new construction projects and rehabilitation work, aiming to bring these properties up to livable standards.
Maggie’s involvement with the Ingham County Land Bank began when she repeatedly had her offers on their listings denied. Determined to work with them, she applied to become a listing agent. Through consistent effort and successfully navigating their request for proposal process, she has maintained her position on their list each year. As she gained experience and familiarity with their programs, Maggie not only lists properties for the Land Bank but also engages in volunteer work to promote homeownership opportunities to Ingham County residents who may perceive it as unattainable.
Maggie suggests that buyers explore the opportunities provided by the Ingham County Land Bank. While the uninhabitable properties are typically auctioned and more suited for experienced investors, the properties that are listed are available to everyone and can be found on the MLS. The Land Bank’s dedication to their mission and the positive impact they have on the community make them a valuable resource. They offer a great product and are actively working to improve the housing situation in the area.
Maggie also collaborates with the Capital Area Housing Partnership, another nonprofit organization with a similar mission. In addition to their core goals, this program provides extensive education for individuals. During the COVID-19 pandemic, they were awarded several grants that helped many people stay in their homes through rental assistance and mortgage support. The Capital Area Housing Partnership offers a wide range of classes for both prospective homebuyers and current homeowners. They even provide tools that can be borrowed for home-related tasks, further supporting individuals in their housing journeys.
When it comes to protecting homeowners’ privacy, the question arises of whether it is essential to blur their house on Google Maps. In response, Maggie Gerich highlights that while she hasn’t encountered specific concerns regarding Google Maps, she has had clients express worries about interior photos of their homes. While a house’s exterior is typically visible to the public, allowing people to drive by and see it, the issue of privacy becomes more significant when it involves interior images.
Regarding property taxes, Maggie explains that one significant change depends on whether a homeowner purchased their home in the previous year (2022) or not. The key factor at play here is “uncapping.” In cases where a new homeowner buys a property from someone who has owned it for an extended period (such as 50 years), the property taxes have been subject to a cap, limiting the municipality’s ability to increase the taxable value each year. However, once the property is sold, the cap is removed, and the property’s value returns to its even or state-equalized value, potentially resulting in an increase in property taxes for the new homeowner.
The conversation wraps up with Maggie enthusiastically talking about “Find Your Why” by Simon Sinek brought her motivation and inspiration. She reveals that she has read multiple books by Sinek and appreciates his writing style. “Find Your Why” has been particularly influential for her, as it helps her gain a deeper understanding of herself and encourages her to be her most authentic self. In addition to Sinek’s works, Maggie expresses her admiration for all of Brené Brown’s books, recognizing the profound impact they have had on her.
Check out Maggie Gerich:
https://www.facebook.com/maggie.gerich
https://www.facebook.com/MaggieGerichRealtor
https://www.instagram.com/maggiegerichrealtor/
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