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Traverse City, MI Real Estate News

By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Beach Grooming:  Public Act 247 of 2012   The alteration and development of Great Lakes properties are regulated not only by MDEQ, but also by the U.S. Army Corps of Engineers. There was a new act introduced in July of 2012 that has changed the way Michiganders need to acquire approval to groom their beaches.   For approximately the past decade, the MDEQ took the position that, under Part 303 (titled "Wetlands Protection") and Part 325 (titled "Great Lakes Submerged Lands") of the NREPA, State permits were required before any beach maintenance could be done despite the fact that permits for such work were already required by the Corps.  Therefore, expensive, time-consuming and duplicative permits were required for such things as removing debris, leveling the beach, and removing or mowin...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
  Our market is continuing to see record low inventory levels in some price ranges for off water homes and values are up almost 10% over this time last yeat in those same markets.     Looking to Sell?   ~  NOW is the time  Call today for an evaluation of your home   Weekly Market Statistics          03/25/2013 thru 03/31/2013 143 New Listings 68 Sold Listings 320 Pending    Sales By Classification 52 Residential $9,001 to $895,000 Median $160,950 Mean $196,213 12   Vacant Land $10,000 to $245,000 Median $40.950 Mean 74.908 4   Commercial $90,000 to $194,000     Sales by Location 07 Antrim County 04 Benzie County 36 Grand Traverse County 06 Kalkaska County 13 Leelanau County 02 Wexford County   Expired Listings    39   Year over Year Comparison for Grand Traverse County on & off water ho...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
ATTN ACTIVE DUTY TRANSFERS   If you have orders to transfer from MI and are claiming a primary residence here, you will need to fill out the form below and submit to your local taxing authority here before May 1st to retain your exemption status. This form needs to be filled out every year. Call our office if you have questions on this exemption 231-944-9906.   This is a primary tax exemption that you are entitled to if you have to leave the area for active duty or base transfer.  Be sure to take advantage of this benefit afforded to you in Michigan.   Thank you for your service     http://www.michigan.gov/documents/taxes/4660_247121_7.pdf
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
  Our market is holding optomistically steady and we are still seeing a very large lack of inventory in some of our price points.  With this pent up demand in these price ranges, it is a great time to get your home on the market.  Strike while the iron is hot.  If you would like information on just how your home compares or if you woudl like to list your home, call us today at 231-944-9906   Weekly Market Statistics          03/18/2013 thru 03/24/2013 Sales by Location 09 Antrim County 06 Benzie County 36 Grand Traverse County 04 Kalkaska County 07 Leelanau County 02 Wexford County   Total Sales in our Market Area  64   Year over Year Comparison for Grand Traverse County on & off water homes   Off Water Homes All Values   Current Listings        476  Sales                         03/12 ...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Should I Have A Buyer’s Agent? The answer should always be YES!!!!  Put simply, a buyer’s agent is a real estate agent who works for you, the buyer, in a transaction. In this capacity, your buyer’s agent will:   Set up a meeting to determine your specific needs and wants. Conduct an ongoing and extensive search of available properties that would address your needs drawing from in-house listings, multiple listing services and for sale by owners. He or she may even contact homeowners whose homes are not currently on the market. Inform you about attractive properties so you might drive by. Schedule appointments for you and accompany you on visits to properties you wish to see. Provide professional comparative analysis and tax records and data on recent comparable sales. Help you analyze an...
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By Jon Becker, Associate Broker
(Century 21 Northland)
10 Best Small Towns in America Posted by Sandra Ramani on March 19, 2013 at 11:59:05 AM EDTPosted in Trip Ideas Tagged: Vermont, California, Washington, Montana, Wisconsin, Michigan, Massachusetts, Illinois, Florida, Arizona America's big cities may get all the splashy buzz, but for savvy travelers, our small towns are our best-kept secrets. In a time when "authentic" is a travel buzzword, these hamlets are attracting visitors with an often unexpected—and surprisingly sophisticated—array of independent and locally-minded cultural, outdoor, and culinary offerings, all minus the urban price tags. The only downside to all this small town regeneration? Narrowing down this list to just 10 favorites. Our editors pored over the possibilities, ultimately picking the winners based on criteria li...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
 We are still seeing an upward trend in activity and pricing in our off water homes with inventory levels at all time low for the past 5 years.  If this trend continues we will see more and more of a shift in our market.  On water home values are holding steady, although market activity is up and levels are slightly down from the past few years. Interest rates are starting to edge up.  If you are thinking of buying a home, be sure to start your search soon before you are caught in higher home prices as well as higher interest rates. FHA has some big changes coming down the line soon that will also cost your more money to purchase a home.   Call TODAY and we can fill you in on all of the details and assist you with your new home purchase. Weekly Market Statistics          03/11/2013 thru...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
The Traverse City real estate market is really heating up.  We are still seeing extremely low levels of inventory in some price ranges and areas of our region.  For specific questions or if you qwould like to receive a FREE Market Analysis of your homes value, call Cherry Wings Realty today and one of our staff will be delighted to assist you.     Weekly Market Statistics          03/04/2013 thru 03/10/2013 129 New Listings 40  Sold Listings 253 Pending    Sales By Classification 33 Residential $23,000 to $650,000 Median $165,000 Mean $187,982 5   Vacant Land $5,000 to $325,925 Median $72,000 Mean $101,985 2   Commercial $195,000 to $213,500     Sales by Location 09 Antrim County 04 Benzie County 14 Grand Traverse County 02 Kalkaska County 09 Leelanau County 01 Wexford County 01 Outside...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
    Inventory levels in Traverse City are still at an all time low in some price points. Activity is up considerably over this time last year. It is a great time to list and sell you home Call Cherry Wings Realty Today For A FREE Market Analysis Of Your Home   Weekly Market Statistics          02/11/2013 thru 02/17/2013 90  New Listings 43  Sold Listings 228 Pending         Year over Year Comparison for Grand Traverse County on & off water homes   Off Water Homes All Values   Current Listings        492  Sales                         02/12 to 02/13  1,016  02/11 to 02/12  801  Average DOM            144 or 4.8 Months  Value Direction          Up 9.1%  Market Activity           Up 26.8%   Inventory Supply        5.8 Months   Direct Water Homes All Values  Current Listings       161  Sale...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
  Inventory levels are still shrinking in Northern Michigan There are less than 500 off-water homes in our MLS with our activity up over 25% and prices up over 8%.  Now is the time to list your home.  We offer FREE Staging and a FREE Home Warranty with all of our listings.  Call today - we can have your home listed by this afternoon.  231-944-9906   Weekly Market Statistics          02/04/2013 thru 02/10/2013 104  New Listings 65  Sold Listings 221 Pending    Sales By Classification 44 Residential $11,500 to $1,981,000 Median $139,750 Mean $187,391 7  Vacant Land $27,500 to $90,000 Median $27,500 Mean $42,071 4   Commercial $5 SF Lease to $220,000     Sales by Location 10 Antrim County 07 Benzie County 27 Grand Traverse County 05 Kalkaska County 12 Leelanau County 04 Wexford County 00 O...
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By Jon Becker, Associate Broker
(Century 21 Northland)
by Gayle Neu   More places to eat, drink, play and build are coming to the Chums Corner area:• Incredible Mo’s, a new family-oriented fun center located at the former Wilderness Crossing in Grawn, will hold its soft opening this Saturday and a grand opening Feb 21-24.Owners Chris and Sandra Mohrhardt (the ’Mo’s) bought the building last July. They have since remodeled it and hired 46 staff members.“We’re excited to introduce our all-ages family fun facility to Grand Traverse County and beyond!” says Sandra. “Our restaurant, 'Sauce,' will be serving up scratch-made artisan pizzas, sandwiches, pastas, salads and starters among our full bar.”Chris was instrumental in the transformation of longtime family business Timber Lanes into Lucky Jack’s (named in honor of his grandfather, Jack Mohr...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
          Weekly Market Statistics          01/21/2013 thru 01/27/2013 92  New Listings 40  Sold Listings 218 Pending    Sales By Classification 29 Residential $21,750 to $445,000 Median $112,900 Mean $158,493 5   Vacant Land $7,500 to $180,000 Median $46,000 Mean $76,600 6   Commercial $9 sf to $3,790 all leases     Sales by Location 05 Antrim County 05 Benzie County 20 Grand Traverse County 05 Kalkaska County 02 Leelanau County 01 Wexford County 02 Outside Areas   Expired Listings    48   Year over Year Comparison for Grand Traverse County on & off water homes   Off Water Homes All Values   Current Listings        489  Sales                         01/12 to 01/13  1011  01/11 to 01/12  794  Average DOM            144 or 4.8 Months  Value Direction          Up 8.1%  Market Activity    ...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Weekly Market Statistics          01/14/2013 thru 01/20/2013 141 New Listings 52   Sold Listings 207 Pending    Sales By Classification 43 Residential $8,000 to $680,000 Median $111,250 Mean $139,559 8   Vacant Land $12,000 to $138,000 Median $29,750 Mean $47,062 1   Commercial $9 sf (Lease)   Sales by Location 06 Antrim County 09 Benzie County 22 Grand Traverse County 03 Kalkaska County 09 Leelanau County 01 Wexford County 02 Outside Areas   Expired Listings    46   Year over Year Comparison for Grand Traverse County on & off water homes   Off Water Homes All Values   Current Listings        504  Sales                         01/12 to 01/13  1001  01/11 to 01/12  794  Average DOM            145 or 4.8 Months  Value Direction          Up 8.1%  Market Activity           Up 26.1%   Invent...
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By Jon Becker, Associate Broker
(Century 21 Northland)
January 16, 2013 By Beth Milligan   It can be a challenge for anyone heading to downtown Traverse City – where is the best place to park? Thanks to the addition of two major parking decks in the downtown district in the last decade, that question has become increasingly easy for shoppers, visitors and workers to answer. With talks of a possible third deck looming over the city, The Ticker checked in to see what's happening with the existing decks downtown – and what might be in store for a new development.Larry C. Hardy Parking Deck Opened in June 2003, the Larry C. Hardy Parking Deck is the city's oldest and most expensive deck, at $8.3 million. The 540-space garage between Front and State streets sees an average of 15,000 cars a month, with nearly 25,000 vehicles using the deck in Ju...
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By Jon Becker, Associate Broker
(Century 21 Northland)
It's been called one of the "10 Great Streets" in the country by the American Planning Association. But Front Street, downtown Traverse City's picturesque corridor, has also stirred fierce debate throughout its history on how the street should be designed and used. In the 1960s, city officials – reacting to community pressure – changed Front Street to one-way, then faltered and reverted back to two-way, before voters initiated a city referendum that permanently designated the street as one-way in 1967. Today, up to 10,000 drivers a day still navigate Front Street on a one-way basis. But increased tourism to the area, an expanded presence of pedestrians and bikers downtown, and frequent requests to close Front Street for special events have all generated discussion among local leaders on...
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By Jon Becker, Associate Broker
(Century 21 Northland)
By Beth Milligan   One of the most popular events in Traverse City is returning in February for its third year – and The Ticker has a sneak peek of what will be in store for attendees. Traverse City Restaurant Week, created in 2011 by the Downtown Traverse City Association (DTCA) to celebrate the region's diverse array of restaurants and chefs, will take place this year from February 24 to March 2. As in past years, participating restaurants will offer three-course meals especially designed for the event all week long for just $25. Last year's event boasted nearly two dozen participating restaurants and record dining numbers for many local eateries. “Feedback from the first two years has been really positive,” says Colleen Paveglio, marketing director at the DTCA. “Some restaurants sta...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Weekly Market Statistics   12/31/2012 thru 01/06/2013 95 New Listings 63 Sold Listings 201 Pending   Sales By Classification 48 Residential $28,000 to $1,200,000 Median $134,950 Mean $193,735 11 Vacant Land $3,000 to $1,800,000 Median $35,000 Mean $214,818 7 Commercial $1,700 (Lease) to $635,250   Sales by Location 09 Antrim County 10 Benzie County 29 Grand Traverse County 04 Kalkaska County 05 Leelanau County 01 Wexford County 05 Outside Areas   Expired Listings 321   Year over Year Comparison for Grand Traverse County on & off water homes   Off Water Homes All Values Current Listings 488 Sales 01/12 to 01/13 975 01/11 to 01/12 793 Average DOM 142 or 4.7 Months Value Direction Up 7.8% Market Activity Up 22.9% Inventory Supply 6.0 Months   Direct Water Homes All Values Current Listings...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
  Who Say's There Is No Such Thing As A Free Lunch ~ Come join us this Monday at our office ~ Free Lunch & Market update Each week, we will offer a wonderful homade soup, networking and an overview of what our market is doing Be sure to stop by for your FREE LUNCH at Cherry Wings Realty  
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
        Weekly Market Statistics          12/24/2012 thru 12/30/2012 33   New Listings         77   Sold Listings 222 Pending   Sales By Classification 63 Residential $19,750 to $2,075,000 Median $139,000 Mean $212,764 12 Vacant Land $26,500 to $451,000 Median $67,500 Mean $100,200 2   Commercial $14 sf to $675 (Lease)   Sales by Location 08 Antrim County 09 Benzie County 38 Grand Traverse County 03 Kalkaska County 11 Leelanau County 01 Wexford County 07 Outside Areas   Expired Listings    62   Year over Year Comparison for Grand Traverse County on & off water homes   Off Water Homes All Values   Current Listings        528  Sales                         12/10-12/11  822  12/11-12/12  1,016  Average DOM            143 or 4.8 Months  Value Direction          Up 7.2%  Market Activity     ...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
      Weekly Market Statistics          12/17/2012 thru 12/23/2012 100 New Listings         80   Sold Listings 248  Pending   Sales By Classification 57 Residential $15,500 to $4,000,000 Median $136,000 Mean $270,892 20 Vacant Land $15,000 to $189,000 Median $77,900 Mean $76,370 3   Commercial $375 (Lease) to $675,000   Sales by Location 07 Antrim County 10 Benzie County 37 Grand Traverse County 08 Kalkaska County 14 Leelanau County 01 Wexford County 03 Outside Areas   Expired Listings    62   Year over Year Comparison for Grand Traverse County on & off water homes   Off Water Homes All Values   Current Listings        547  Sales                         12/10-12/11  822  12/11-12/12  995  Average DOM            144 or 4.8 Months  Value Direction          Up 7.6%  Market Activity        ...
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