Chuck Gollay's Blog

Traverse City Real Estate is HOT!

Chuck Gollay (Exit Realty Paramount) — Sun, 22 Apr 2012 13:09:55 -0700

Part of my responsibility to my clients and prospects, sellers and buyers, is to update on the changing conditions of the Interlochen Real Estate Market, and the Traverse City Real Estate Market. The one thing that is constant in real estate is that it changes all the time. If your agent can’t tell you what is going on in the real estate market TODAY, you are not working with the right agent.

So here’s an important update– our market is changing! It is changing, and with it comes changes to the dynamics of buying and selling. It can affect both buyers and sellers, so whatever your position, there’s news you can use here.

Nationally, the real estate market is still very depressed. But real estate always has been, and always shall be, a local phenomenon. It’s governed by the laws of supply and demand. And I am here to tell you that the Interlochen real estate market, and the greater Traverse City real estate market, is getting stronger. Waterfront properties, which tend to lead the market ahead of off-water homes, is actually appreciating in value. Let me say that again: waterfront properties in the Interlochen area are appreciating. Prices are up nearly 9% over last year, and the volume of homes sold has increased by almost 15 percent. This news is from Bob Reamer of Setpoint Property Solutions. Mr. Reamer is an experienced appraisal professional with over 30 years of experience.

Off-water homes have stabilized in value since the first of the year. That means that, at many price points, prices are no longer going down. In fact, in many price segments in the Interlochen real estate market, and the Traverse City real estate market, we are seeing multiple offers on many, many properties. That changes the dynamics from a strong buyers market to a fairly strong sellers’ market. There is intense competition for quality homes that are priced at market value. Between owner-occupant demand and investor demand, the competition is fierce, and we are seeing sale prices over asking prices in many cases. If you’ve been thinking of buying a home in Interlochen, or the greater Traverse City area, this should serve as a wake up call. You may not have the luxury of leisurely looking at homes; the old adage of “you snooze, you lose” is becoming a truism.

Of course, we’ve been waiting for the market to improve for the last six years. Homeowners have taken tremendous hits to their equity, as home prices tumbled. I don’t mean to say that all is rosy, and we’re back to where we were. Home prices are still at 2001 price levels, but at least in the Interlochen and Traverse City areas, they don’t appear to be going any lower.

For buyers, this change to our market will impact your purchase strategy. And for sellers, it may be time to re-think your position. With home values increasing for Duck Lake homes for sale, and Green Lake homes for sale, it may be wise to consult with a real estate professional and discuss how this changing market can impact your ability to sell, and your bottom line. As always, I remain available to consult with my clients and prospects.

Traverse City, and Interlochen, are places people want to live. Living Between the Lakes is almost idyllic, with beautiful, peaceful settings and a better way of life. If it is time for you to buy a home, or to sell a home, please call me today and let’s talk about.

Chuck Gollay, Residential Realtor

Real Experience. Real Value. Real Estate.

231-409-0758

Chuck@LivingBetweenTheLakes.com

Visit me on Facebook at www.Facebook.com/livingbetweenthelakes.

Get "pre-approved" not "pre-qualified"

Chuck Gollay (Exit Realty Paramount) — Thu, 20 Oct 2011 19:44:10 -0700

You've decided it's time to buy a home. You've been advised to contact a lender and get pre-approved, so you reach out to a loan officer, and talk on the phone. He/she asks you a few questions about your income and your debts, and then prepares a "pre-approval" letter for you, based on your representations. You come to my office, proudly clutching this preapproval letter, and you say, "let's find that perfect home for me."

That's normally music to my ears, since buyers who are ready, willing, and able to purchase a home are golden. BUT, before we start looking at properties and making offers on the house that would become your home, let's take a moment and look a little more closely at the situation. What is a "pre-approval letter", how does it compare to a pre-qualification letter, and what purposes do these letters serve?

Let's start with a pre-qualification letter. Today, you'll seldom see a letter labelled as such, but that's more likely what you'll receive. It means that a loan officer has tentatively qualified you for a loan based on your verbal representations. It is not based on a review of your complete financial history: recent pay stubs, bank statements, tax returns, or credit report. It just means that based on what you've said, you should qualify for a mortgage loan IF that information is true and correct.

A pre-approval letter is supposed to be a conditional commitment, based upon a review of your financial history. That means that the loan officer has gathered your most recent paystubs, most recent banking and checking account statements, pulled your credit history, reviewed your total assets, total debts, and has analyzed not just your credit scores, but your overall credit report. Upon review of all those documents, a pre-approval letter should indicate that you are eminently qualified for a mortgage loan, as long as your financial situation doesn't change in the near future. It's conditioned on a couple of other things, like employment verification, and adequate appraisal, but that's standard. It tells you not only that you can get financing, but will determine what price levels you can afford. It tells the Buyer's Agent that you are a qualified buyer, and it tells the seller that you can perform if they accept your offer to purchase.

Let's compare the two types of letters, using an analogy. Have you ever gotten a mailing from Publisher's Clearing House, stating that "you may have already won a million dollars?" All you need to do is complete this form, mail it in, and you may be a winner. That's approximately what a pre-qual letter stands for. It guarantees nothing. On the other hand, say you bought a lottery ticket, checked your ticket numbers against the published winning numbers, and you see that you've matched all the numbers. You've won! That's pre-approval. It's solid, it's meaningful and it's desirable.

So, why am I talking to you about these two very different letters? It's apparent from my language and tone that I am not satisfied with a pre-qualification letter, even if it says "Pre-Approval" on it. As a sales agent who works on a contingent basis (I only get paid when I sell a home), it's so incredibly frustrating to put in so many hours of time and effort in the search for suitable homes, showings, counselling, the writing of offers, negotiating the offers, finally getting an accepted offer, and then to hear from the lender that the loan cannot be appoved. All that work, all that time and effort, would be for naught. But forget about all this, because this process really isn't about me, it's about YOU.

You should be every bit as upset as I would be if this were to happen to you. While my contribution to the home purchase process is largely limited to time and effort, your contribution would be time and effort, too, PLUS you'll have some real money at stake. Say you make an offer on a property, based on your belief that you'll get your financing, and that offer gets accepted. The clock starts ticking as soon as the contract is executed, so you start with the home inspections. You pay the inspector for a home inspection, and perhaps a well and septic evaluation (very common in northern Michigan). You make your application to the lender, and you pay for an appraisal. The inspections can easily be $500-$600, and the appraisal fee is $400. You've also put down a $500 earnest money deposit. So you've contributed almost $1500 to the process. How would you feel if, after spending that money, you learn that the file cannot get past underwriting, and your loan has been denied? Your inspections and appraisal fees are non-refundable; you may be able to get your earnest money back, but it's not guaranteed. Would you be angry that you've spent this money, and it's all for naught?

When the time comes, and you're ready to start seriously looking at Traverse City real estate, please call a LOCAL lender. Don't call some 800 number, or any bank whose name ends in dot com. Call a local lender; if you need referrals, I can provide them. By utilizing local lending professionals who understand northwest Michigan real estate, and are familiar with the loan programs that would serve you best, you'll build a relationship with a person and an institution. Ask that loan officer what he/she needs to give you a solid pre-approval. It will make your life much easier and less stressful.

An Amazing Evening in Interlochen

Chuck Gollay (Exit Realty Paramount) — Thu, 25 Aug 2011 11:19:43 -0700

Last night, my wife and I attended a concert at the Interlochen Academy for the Arts in Interlochen, MI. It's a school for the performing arts, and they host a series of student productions in the winter and spring, and a series of professional concerts and performances during the summer and early fall. We saw the classic rock group Chicago last night, and it was truly an amazing evening.

For you lovers of classic rock, you know that Chicago, the band, has been together, creating music and touring since 1967. Any group that can last for 44 years has my respect, and this one still has several of the original band members. There music spans several generations, and the audience last night reflected that. We saw teenagers, 20-somethings, 30-somethings, and the whole spectrum of baby boomers from their forties to their late 60s and beyond. It's a testament to Chicago's artistic creativity and unique sounds that they can attract so many different age groups.

The band performed for well over two hours, and the music and energy level were both incredible. The crowd was enthusiastic, wildly applauding, clapping and swaying in time to the music, and the band fed off that energy from the crowd. The music took me back to my own youth, and I recalled that I saw Chicago in concert in the city of Chicago back in 1979. I was 17 at the time, and the event was a lot of fun, but I think it had more meaning to me now in my middle age. Music at its best evokes memories of times past, and when we experience that connection, it makes the music that much sweeter. I am still having difficulty believing it's been 32 years since I saw them last. Sometimes it feels like it's been only a brief period of time, and sometimes it feels like the lifetime it's actually been. I half-jokingly say that I am still just as immature now as I was then-- I think that's my way of holding on to my youth.

At any rate, it was an amazing evening spent in the company of my beautiful wife, Amy, and 2500 of my closest music loving friends. To be able to sit on the shores of Green Lake, listening to the big brass sound of Chicago while watching the sun set over the lake, is an experience not to be forgotten. Interlochen Arts Academy is a remarkable school, having produced dozens and dozens of famous and successful alumni. And to have that huge cultural icon in the small town of Interlochen, here in northwest Michigan, means that we have access to some of the most talented and entertaining singers, bands, entertainers, plays, and musicals. We may be a small community, with all the charms of a small town, but we definitely have a larger city sophistication. That's a combination not easily replicated any where else in the world.

If you're interested in Interlochen homes for sale, or Traverse City real estate, please visit my website, http://ChuckGollay.com, where you can browse all the homes available for sale. And if you'd like to discuss your real estate wants and needs, give me a call. Real estate is my favorite subject (along with my family and my dogs), and I would be happy to take your call.

Sleeping Bear Dunes in Leelanau County, MI is voted "Most Beautiful Place in America!"

Chuck Gollay (Exit Realty Paramount) — Wed, 17 Aug 2011 11:40:47 -0700

http://abcnews.go.com/Travel/best_places_USA/sleeping-bear-dunes-michigan-voted-good-morning-americas/story?id=14319616

The accolades keep growing for this little corner of heaven known as Traverse City, MI. The Sleeping Bear Dunes has been voted the Most Beautiful Place in America by ABC News and Good Morning America. Nestled along the coast of Lake Michigan, about 15 miles northwest of Traverse City, this huge sand dune offers panoramic vistas of Lake Michigan's shimmering blue waters. Enjoy scenic overlooks by car, hiking and biking trails, and a rugged Dune Climb from Glen Arbor to Lake Michigan. Afterwards, relax at Boone Dock's restaurant, or Art's Tavern in Glen Arbor. Visit Cherry Republic, the king of all things cherry. Or drive the scenic roads of Leelanau County, an uninterrupted drive that skirts the county and offers breathtaking views of Lake Michigan.

If you are interested in purchasing Traverse City real estate, and living where America vacations, please give me a call. I made the move here 6 1/2 years ago from Chicago, and my only regret is not having done it sooner. With so many places to see, and so many activities to enjoy, you'll love the small town charm and big city sophistication of Traverse City. See why we keep winning so many awards, from best food town, to some of the best wines in the world, to world class scenery. For more information on northwest Michigan real estate, including Traverse City real estate, please visit my website at http://www.ChuckGollay.com.

"Changing lives, one home at a time."

Good Morning America Votes Sleeping Bear Dunes "Most Beautiful Place in USA."

Chuck Gollay (Exit Realty Paramount) — Wed, 17 Aug 2011 11:21:05 -0700

The accolades for Traverse City and its environs keep growing. Today, ABC News and Good Morning America have proclaimed our Sleeping Bear Dunes as the Most Beautiful Place in America. http://abcnews.go.com/Travel/best_places_USA/sleeping-bear-dunes-michigan-voted-good-morning-americas/story?id=14319616. Located in Leelanau County, about 15 miles northwest of Traverse City, this beautiful dunes area overlooks the shimmering blue waters of Lake Michigan. With numerous spots to drive and enjoy the scenic overlooks, along with incredible hiking and biking trails, it's a top destination for tourists and locals alike. If you'd like to purchase Traverse City real estate, and live where America vacations, please give me a call. The list of attractions and activities is nearly endless, and you'll come to love this area as much as I do, I am sure. For more information on northwest Michigan real estate, please visit my website at http://ChuckGollay.com.

Get your financing in order!

Chuck Gollay (Exit Realty Paramount) — Sat, 25 Jun 2011 09:43:52 -0700

A recent blog by David Burrows talked about "A Doctor's Advice For Purchasing a Home." It was an excellent, well-wriiten posting, and inspired this blog of mine. Getting your financing in order is the first order of business for home buyers today. Here's why.

Back in the heyday of the real estate boom years, credit was easy to obtain. With rapidly appreciating real estate, even over-extended borrowers were likely to cover their mortgage balance and even make a tidy proft when they sold their homes. Underwriting scrutiny was not very intensive, and the money was flowing freely. Then the bubble burst, and the lending world changed--dramatically.

Today's buyers are being scrutinized like never before by lenders and their underwriters. These potential buyers are being held to much higher credit standards than the borrowers of yesterday. Gone are the days of the "80-20" mortgage, or the stated income mortgages of the past. Savings and checking acccounts are scrutinized; credit histories are examined in great detail. Monies to be used for down payments have to be accounted for: where did they come from; how long have they been in the bank? Were they a gift or a loan, or the product of actual savings?

Today's buyers are being much more thoroughly assessed for credit worthiness than borrowers from yesteryear. With so many homes already having been foreclosed, no one wants to see more foreclosures. So the lending practices and standards have evolved and lenders now expect strong credit scores, savings in the bank, reasonable debt to income ratios, and a strong ability to honor their mortgage commitments. Today's consumers may remember the days of easy money from not so long ago, and may not understand that lending practices and standards have changed so much. Conversely, some may be very aware of those changes, and are afraid to face the scrutiny. As former President Roosevelt once said:

"So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself -- nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance"

So, if you are a serious home buyer, you need to face that fear and take the first step in the process-- get pre-approved. Deal with a local lender, once whose reputation for service, knowledge and integrity is unquestioned, and determine where you stand in the process. Many consumers, including myself, have bruised credit. Taking that first step and diagnosing what ails you (credit-wise) will allow you to proactively work to improve your credit standing. If your credit is solid, your financing will be an easy and painless process. If your credit needs work, then start now to rebuild it. Fear isn't going to change your situation; only facing fear will do that.

I met a buyer prospect a couple of months ago, and she was interested Traverse City homes for sale. She kind of danced around the issue of financing, implying that her mother would either co-sign on a mortgage, or take one out herself. When I asked if her mother had gotten pre-approved, she got rather indignant. I told her, honestly and respectfully, that she had to have her financing in order before we went looking. Bank-owned homes are in high demand, and the sellers won't even consider an offer to purchase unless it is accompanied by a pre-approval letter. She was appalled that I asked her to have her financing in order, and exasperatedly asked " So you only show properties to pre-approved buyers??" Yes! It's in your best interests (and mine, too) for you to be pre-approved. It givces you the security of knowing that you can purchase a home, and it gives you a definite price range in which to look. And in these turbulent times, sellers face great risks too, so demonstrating you are capable of performing eases their worries and strengthens your bargaining power.

So, delay not in getting your financing secured. It's more important than you may realize. If you are thinking of purchasing a home in the Greater Traverse City area, please consider visiting my website at http://ChuckGollay.com, where you can search all the listings, request financing assistance, and have access to a dedicated and caring residential real estate professional.

No horsing around, here's a property for you! Horse farm for sale in northwest Michigan.

Chuck Gollay (Exit Realty Paramount) — Thu, 16 Jun 2011 10:52:38 -0700

If you love horses, or value privacy and scenery, here's a house for you. And if it's true that a picture paints a thousand words, then click on the web photo album below, and you'll see a novel's worth of information about this amazing property. This home for sale in Frankort, Michigan is located just one mile south from Lake Michigan. With thirty acres, four huge outbuildings including an amazing 12-stall horse barn, and a 2800SF four bedroom home, you'll feel like you're in heaven!

2986 White Road

Investors and 1st Time Home Buyers, Here's a Home for You.

Chuck Gollay (Exit Realty Paramount) — Tue, 14 Jun 2011 14:06:44 -0700

9746 9th St Interlochen, MI

Click For Listing Website

Click For Interactive e-Tour

Short sale opportunity in Village of Interlochen. Spacious bi-level home offers 860 SF of finished space, and the partially finished lower level can double that amount. Located just a stone's throw from the public library, you'll be close to the Interlochen Academy, Hofbrau Restaurant, state lands,inland lakes, and only 15 minutes to TC.

MLS# 1722282 $70,000 2 Bed, 1 Bath 9746 9th St Interlochen MI, 49643	Chuck Gollay EXIT REALTY PARAMOUNT 231-409-0758

Horse Lovers, Handymen, and Investors, Here's a Short Sale for You!

Chuck Gollay (Exit Realty Paramount) — Mon, 13 Jun 2011 20:54:06 -0700

17978 Almira Rd Lake Ann, MI

Click For Listing Website

Click For Interactive e-Tour

Here's a great opportunity for a handyman looking for a short sale opportunity. This 1930 farmhouse is situated on 5 open acres of land, perfectfor pasturing horses. The home needs work inside and out, and is priced aggressively in accordance with its condition. Located near the Mistwood Gol fCourse in Lake Ann, you'd be equally close to Traverse City and the Sleeping Bear Dunes. Two car detached garage, large barn. If you appreciate the quietcharacter of Benzie County, you'll love this property!

MLS# 1727640 $60,000 3 Bed, 1.5 Bath 17978 Almira Rd Lake Ann MI, 49650	Chuck Gollay EXIT REALTY PARAMOUNT 231-409-0758

div>

Help for Homeowners Facing Foreclosure

Chuck Gollay (Exit Realty Paramount) — Fri, 13 May 2011 11:01:54 -0700

http://www.michiganhomerescue.com/home

So many homeowners still face the prospect of foreclosure; it's truly heartbreaking when a person or a family loses a home due to circumstances beyond their control. Foreclosure impacts so many areas of life: finances, credit, emotions, and stability are just some of the major areas of impact. If you know of someone facing the possibility of foreclosure, won't you send them to this informational website? It offers information about foreclosure and possible ways around it. Help is just a phone call or email away.

For more information about the foreclosure process, and your options to avoid foreclosure, please contact:

Chuck Gollay, Realtor

Short Sale and Foreclosure Resource (SFR)

Founder, Michigan Home Rescue Team.

231-409-0758

Chuck@MichiganHomeRescue.com

Market update for the Greater Traverse City, MI area

Chuck Gollay (Exit Realty Paramount) — Wed, 20 Apr 2011 13:45:20 -0700

The news is constantly talking about the real estate market and its sad condition, as if there is but one market all across the country. The reality, however, is this: Real estate has always been, and always shall be, a local phenomenon. While certain aspects of the national market do have implications for local markets, each local market is defined by its own unique characteristics. So, what happens across the country is not necessarily what's happening in Traverse City, nor does the Traverse City real estate market translate nationally.

The greater Traverse City market is arguably the healthiest area in the entire state of Michigan. With our small town charm and larger city sophistication, coupled with the undeniable beauty of this area, Traverse City remains a destination for vacationers, and a hot choice for many to relocate here. We've seen our overall market decline substantially over the last five years, and that has affected many people. But our decline has been less dramatic than many areas of the country, and housing values appear to be stabilizing here.

We have roughly a 10.5 month supply of homes in inventory, down from the 15 month supply we had last year. The inventory supply is determined by the number of residential homes we currently have for sale, divided by the average number of homes we sell each month. A balanced market has a 6 month supply of homes. A larger supply indicates a Buyer's market; a lesser supply translates to a Seller's market. So, on the surface, it looks as if we still have a Buyers market, but closer analysis reveals that we have two different yet simultaneous markets coexisting.

When we break down our statistics even further, we can separate bank-owned property sales from traditional sales. Here's where it gets interesting:

Bank-owned properties (aka foreclosures) accounts for virtually half of all our sales. The inventory of bank-owned properties has dropped to a four month supply. That means that this is actually a Sellers market. With an undersupply of homes for sale and more buyers vying for fewer properties, we are seeing multiple offers on many such homes, with market times measured in days rather than weeks or months.

For traditional sellers (that is, private home owners), the news is less robust. For non-waterfront homes, the inventory exceeds a 24 month supply. That translates to a strong Buyers market for this segment. Sellers, it's crucial to understand the market dynamics. You are competing with foreclosed homes, and these bank-owned properties are always priced aggressively to yield a quick sale. The banks are ruthless in undercutting the prices of traditional home sales. This makes it critical for you to work with a professional who understands this dynamic, and can counsel you appropriately. One still needs to be motivated to sell in this very buyer-oriented market, so an effective marketing and pricing strategy is essential for success.

If you are thinking of selling your home, please call or email me today for your own free consultation. As a student of the market, I understand its dynamics, and can help you achieve success.

Just Listed in Kingsley-- 3BR tri-level on 2.90 acres in Kingsley's nicest subdivision!

Chuck Gollay (Exit Realty Paramount) — Sat, 16 Apr 2011 13:20:40 -0700

Links

Search all the homes

Photo Gallery

Front view	Back of house with patio AND deck	Living Room
Close up of fireplace with wood-burning stove insert	Kitchen with hickory cabinets	Master bedroom
Bedroom #2	Bedroom #3	Lower Level Family Room with slider to patio

Description

This contemporary split-level home sits on 2.90 wooded acres at the end of a cul-de-sac in Kingsley's nicest subdivision. You'll feel instantly at home as soon as you walk through the front door, which opens into the vaulted living room. You'll appreciate the warmth of wood burning stove, and you'll love the harmonious blend of fieldstone hearth, oak floors, and hickory kitchen cabinetry. Sliding glass doors in the living room open to the beautiful wood deck.

The upper level features three large bedrooms. The master bedroom has split access to the master bath. The cathedral ceilings add volume and spaciousness. The finished lower level features another sliding glass door, this one leading to the patio that overlooks the wooded back yard.

The yard, with its underground sprinkler system, is green and lush, and nicely landscaped. If you value a beautiful home, in a beautiful setting, on a little land to call your own, you'll love this place!

Features

Bedrooms:	3
Bathrooms:	2
Year Built:	2004
Subdivision:	Timber Ridge Estates
Lot Size:	2.90 acres
Garage Size:	2-car attached
School District:	Kingsley
Square Footage:	2300
Agent Name:	Chuck Gollay
Broker:	Exit Realty Paramount
MLS #:	1725377

Location

5219 Timber Point Trail Kingsley MI 49649

vFlyer Id: 19739000

Room to Roam for you and your horses!

Chuck Gollay (Exit Realty Paramount) — Wed, 23 Feb 2011 10:56:38 -0800

2986 White Rd Frankfort, MI

Click For Listing Website

Click For Interactive e-Tour

Imagine living in an area so beautiful, so picturesque, that words fail to describe its beauty. Can you see yourself living in a spaciousfarm house, surrounded by 30 acres of lush green grass? Looking for a home for you, your family, and your horses? Well, look no further, for her it is. Thisamazing property features the farm house, four outbuildings, including a 12-stall horse barn, and 3 fenced enclosures for your horses to romp and frolic, allin a setting that is utterly beautiful and scenic.

MLS# 1723715 $398,000 4 Bed, 3 Bath 2986 White Rd Frankfort MI, 49635	Chuck Gollay EXIT REALTY PARAMOUNT 231-409-0758

Enjoy the best of waterfront living on the best waterfront in Traverse City, MI

Chuck Gollay (Exit Realty Paramount) — Sat, 22 Jan 2011 12:29:34 -0800

154 S South Long Lake Rd Traverse City, MI

Click For Listing Website

Click For Interactive e-Tour

Dare to dream! Imagine living on the shores of majestic Long Lake, in your own home, enjoying your own private sandybeach. Is there anything more relaxing than the sound of waves gently lapping at the shore? Or a gentle lake breeze rippling through thetrees? Imagine your boat gently bobbing in the water, moored to your own private dock. Here are 2 lake cottages for the price of 1, on 66 feet of sandy beach frontage. It?s perfect for swimming, boating, recreational sports, or just plain relaxing.

MLS# 1722956 $300,000 3 Bed, 2 Bath 154 S South Long Lake Rd Traverse City MI, 49685	Chuck Gollay EXIT REALTY PARAMOUNT 231-409-0758

Enjoy the best of waterfront living on the best waterfront in Traverse City, MI

Chuck Gollay (Exit Realty Paramount) — Sat, 22 Jan 2011 12:27:19 -0800

Now you can live on your own Golden Pond, right here in Traverse City, Michigan. Here are two cottages for the price of one, on 66 feet of private frontage. With sandy beach and sandy bottom, it's perfect for swimming and frolicking.

Waterfront Cottages on Long Lake For Sale in Traverse City, MI

Chuck Gollay (Exit Realty Paramount) — Sat, 22 Jan 2011 12:23:10 -0800

Dare to Dream!

Chuck Gollay (Exit Realty Paramount) — Mon, 17 Jan 2011 10:10:33 -0800

Links

My website

Photo Gallery

Sandy beach frontage on THE premier lake in Grand Traverse County	View of the cottage from the road	Large waterfront deck overlooking the lake
Long Lake views	Under that snow lies a lovely wood deck!	Living Room with great views of the lake
Dining area and kitchen	Open layout

Description

Have you ever dared to dream of a vacation home?

Is there anything more relaxing than listening to the waves gently lapping at the shore? Or the susurrant sounds of a gentle breeze rippling through the trees?

Discover why Traverse City is THE place to vacation. Imagine living on Traverse City's premier all-sports lake, with your very own sandy beach. Just imagine your boat gently bobbing in the water, docked just outside your front door.

Which of these activities do you enjoy the most?
* Frolicking on the sandy beach
* Swimming in crystal clear waters
* Boating on calm seas
* Fishing for walleye and panfish
* Basking in the sun on your own private beach
* Gazing at a nighttime sky so full of stars you'll be amazed
* Enjoying the breathtaking array of nature's colors in autumn
* Snowmobiling on miles and miles of uninterrupted trails
* Ice fishing for lake perch.

If you dare to dream, dare to act and realize your dreams. You CAN have it all!
** 66' of sandy-beach, sandy-bottomed private water frontage on Long Lake;
** One 2BR cottage for you, and another 1BR cottage that sleeps up to four, for visiting family and friends;
** Great location just minutes to downtown Traverse City;
** Enjoy all the charm and activities that this magical area has to offer.

With today's low prices, you can make your dreams come true!

Features

Bedrooms:	3
Bathrooms:	1.75
Parking Spaces:	8
Year Built:	1938
Subdivision:	Evergreen Beach
Lot Size:	0.30 acres
School District:	Traverse City
Square Footage:	1432
Agent Name:	Chuck Gollay
Broker:	Exit Realty Paramount
MLS #:	1234567
Year Remodeled:	2003
Private Frontage:	66"

Location

154 S. South Long Lake Road Traverse City MI 49684

vFlyer Id: 3989530

What Every Buyer Needs to Know in 2011

Chuck Gollay (Exit Realty Paramount) — Thu, 06 Jan 2011 15:27:25 -0800

I thought this was so timely and well-written i decided to re-blog it. My thanks to the author, Larry Bettag of Cherry Creek Mortgage in suburban Chicago.

Via Larry Bettag - Cherry Creek Mortgage:

OK....it's officially here! 2011 is not just a number for realtors and lenders, but it's a huge opportunity for consumers. But there are so many consumers who are unprepared or who just don't know where to start. For buyers, here's what you need to know:

Before you do anything, meet with a licensed loan officer. Yes, that person needs to be licensed. Check out an earlier post Let's work with someone who doesn't have a license......NOT!!!!!!. Before you even meet with the individual, ask if they're licensed. Believe it or not the Fed has said that some folks can lend you hundreds of thousands of dollars at their terms without being licensed. Can you imagine any realtor being allowed to not have a license?

Meet with the loan officer - to determine what's right for your situation. Did you know that FHA has some monster changes for condominiums? Did you know that both Fannie and Freddie are making some very costly changes to the way they price a ton of there loans? How will your income and credit affect the rate that you may or may not be able to get? I just met with a guy and he's getting his credit scores up by the end of January so that he won't be penalized under the new rules. Right now.....TIME IS YOUR ALLY!

Get your income information together. If you're self-employed this is even more critical than for those who aren't. But if you get bonus income, commission income, or whatever, know how the Fed is going to look at your income and that of your spouse if you're buying with one.

Assets - Let's take a look at your asset situation. Cash is not king! If you have money we need to document it. If it's under your mattress or in a safety deposit box, then it's no good! But again, time is your ally! Meet with the licensed loan officer.

Get with a REAL realtor! What does that mean? It means get with someone who's doing this as a profession, not as a side job. Not as someone who's moonlighting to pick up a few extra bucks. After you meet with your licensed loan officer, have them refer you to someone who's known in your community for really working for their clients. They have to be knowledgeable. So many folks work with their neighbor who has a license. That's OK if the realtor is serious about this business and has demonstrated a history of success in this business. If not, run for the hills!

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Follow me on:

$10,000 Price Reduction on this Short Sale Opportunity in Interlochen.

Chuck Gollay (Exit Realty Paramount) — Fri, 08 Oct 2010 10:39:59 -0700

8889 South Rd Interlochen, MI

Click For Listing Website

Click For Interactive e-Tour

Formerly $100,000, this adorable 2 bedroom chalet is now available for just $90,000. It sits on 3 lots, has 40 feet of shared access to Duck Lake, and is perfect as a year 'round home, vacation getaway, or a rental property.

MLS# 1718899 $90,000 2 Bed, 1 Bath 8889 South Rd Interlochen MI, 49643	Chuck Gollay EXIT REALTY PARAMOUNT 231-409-0758

Home: Peaceful. Comfortable. Totally You.

Chuck Gollay (Exit Realty Paramount) — Fri, 08 Oct 2010 10:28:37 -0700

$210,000.00 - More than a house, this is a HOME!

Bedrooms: 3

Bathrooms: 3.5

Year Built: 2005

Subdivision: Timber Ridge

Lot Size: 2.99 acres

Garage Size: 3-car attached

School District: Kingsley

Square Footage: 2848

Agent Name: Chuck Gollay

Broker: Exit Realty Paramount

MLS #: 1720886

Basement Sq. footage: 600

Price: $210,000.00

Flexibility: Negotiable

Additional Pricing Information: Will qualify for all types of financing.

8352 Timber Valley Trail

Kingsley, MI 49649

View Map

A house serves as a place to keep our stuff and protect us from the elements. It’s a structure, nothing more. But a home is different.

To be a home, it needs to feel like a place you belong. A place you feel at peace. Comfortable. A home reflects your personality, so it stands to reason that people like you will also like being in your home. This is a home!

Drive up to the house and be dazzled by its curb appeal. Neatly manicured lawns frame the long paved driveway. You’ll love the contemporary architecture of the house, and appreciate the size and convenience of this huge 3+ car attached garage. When you walk in the front door, you’ll be enveloped by a feeling of warmth and comfort. The living room, with its bay window, is bright and spacious. Gleaming hardwood floors lead you to a fantastic kitchen and dining room. The kitchen is huge, with an island and tons of countertop and cabinet space. The dining room can accommodate a crowd, and features a sliding glass door to the rear deck.

It’s not unusual to see deer grazing in the back yard. Or to see dozens of different bird varieties flying to and fro. After a meal, you can retire to the spacious family room in the lower level. You can enjoy a blazing fire in the gas fireplace, watch your favorite programs on your large screen TV, or sit and talk amongst yourself. Walk out into the yard from a second sliding glass door.

It’s all so comfortable. So peaceful. So home-like. And it can be all yours. Call today and arrange your own private tour of this home.

Range/Oven, Dishwasher, Microwave, Fireplace, Hardwood Floors, Kitchen Island, Vaulted Ceilings, Basement, Attic, Grass Lawn, Secluded setting, Wood Deck, Cul-de-sac

Take a Virtual Tour of this Home

Search the MLS

Chuck Gollay

Chuck@ChuckGollay.com

231-409-0758

Equal Housing Opportunity

VFLYER ID: 3714385

Photo Gallery

View from the cul-de-sac	A little closer
Closer view of home	Back of home with deck
Side of home with sliding glass door	Fire pit in back yard
Nice mix of open and wooded lands	Fabulous kitchen
Cathedral ceiling	Cabinetry
Appliances	Pantry and additional storage
Dining Room	Dining Room and Kitchen
Living Room with Bay Window	Living Room with vaulted ceiling
Family Room with slider to yard	More of the Family Room, with fireplace
Master bedroom	Master bedroom has private bath and walk-in closet
Bedroom #2	Bedroom #3
Local wildlife	Friendly neighbors

Equal Housing Opportunity

VFLYER ID: 3714385

All information in this site is deemed reliable but is not guaranteed and is subject to change

Turn-key home just two minutes from downtown Traverse City, only $115,900.

Chuck Gollay (Exit Realty Paramount) — Mon, 04 Oct 2010 17:03:41 -0700

$115,900 - Great home, great location, great value!

Bedrooms: 3

Bathrooms: 1

Year Built: 1954

Subdivision: Park Ridge Manor

Lot Size: 0.27 acres

Garage Size: 2-car detached

School District: Traverse City

Square Footage: 960

Agent Name: Chuck Gollay

Broker: Exit Realty Paramount

MLS #: 1720852

Year Remodeled: 1990

Price: $115,900

Flexibility: Negotiable

Additional Pricing Information: Should qualify for all types of financing.

6092 Sterling Rd.

Traverse City, MI 49686

View Map

This 3BR bungalow lies just outside the city limits, which makes the taxes lower and the location outstanding. Located on a corner lot at the base of the Old Mission Peninsula, the home is graced by old growth trees, a 2-car detached garage, covered patio, and a neatly manicured lawn. The interior features a spacious kitchen, a living room with a bay window, large master bedroom, & main level laundry. Clearly, this home has been lovingly tended, and you'll be impressed by its quality, condition, and feeling of hominess. Literallly just two minutes from downtown Traverse City, you'll be close to Grand Traverse Bay (East and West), Bryant Park, the beaches, great restaurants, shopping, wineries, nightlife, and all the activities that our small town offers. Truly a great home in a great location, making it an outstanding value.

Range/Oven, Full Refrigerator, Washer/Dryer, Microwave, Bay Window, Patio, Grass Lawn, 2-car garage, Wheelchair ramp

Virtual Tour

Search the MLS

Chuck Gollay

Chuck@ChuckGollay.com

231-409-0758

Equal Housing Opportunity

VFLYER ID: 3700474

Photo Gallery

View from the road	Beautiful setting
Old Oak Tree	View from the front porch
Another view of the home	2-car detached garage
Autumn is upon us	View from back corner of property
KItchen	Dining area
Living room	Another view of living room
Bay window in living room	Master bedroom
TV mounted in master bedroom	More back yard
Covered patio

Equal Housing Opportunity

VFLYER ID: 3700474

All information in this site is deemed reliable but is not guaranteed and is subject to change

Coming Soon! 3BR, 1BA home in Old Mission Peninsula, just two minutes to downtown Traverse City!

Chuck Gollay (Exit Realty Paramount) — Fri, 01 Oct 2010 14:36:34 -0700

Coming to the market very soon: Home for Sale in Traverse City.

This lovely home on 0.27 acres, just two minutes from downtown Traverse City. This is a 3BR, 1BA ranch home, with a detached two car garage, covered patio, and an immaculately groomed yard. Inside you'll have everything you need on one floor. Large kitchen, bay window in living room, spacious master bedroom. You'll be so close to the beaches, and East Grand Traverse Bay. You'll be close to the shopping, restaurants, night life, and all the activities of our vibrant downtown. It's the perfect location! Will be proudly offered at $120,000.

Click HERE to see Marketing Flyer

If you're interested in buyinga home in Traverse City, or Old Mission Peninsula, please visit my website at http://www.ChuckGollay.com. You can create your own listing alerts, and receive daily emails with all the hot, new properties for sale. It's fast, easy, and FREE!

"Sail Away From The Safe Harbor..."

Chuck Gollay (Exit Realty Paramount) — Mon, 27 Sep 2010 12:31:20 -0700

"Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover." - Mark Twain

I think Mark Twain had it right when he spoke so many years ago about regrets and lost opportunities. It's also my belief that many, many consumers will look back to 2010 and kick themselves for not taking a chance on today's real estate market. There are so many opportunities to create lasting investments, to create positive cash flow, and/or yield a nice return on investment down the road.

Have you ever seen restaurants advertising special prices from 10 years ago? Good lord, man, the lines are out the door and around the building! Consumers recognize value, and discounted prices represent good value. We are in the midst of that same value scenario in our real estate market right now. Houses are not restaurants, of course, and a good meal shouldn't entail a risk. Real estate does entail some risk taking. But savvy consumers understand that with risks come rewards, and the rewards for investing now are:

*Opportunity to create equity;

*Opportunity to create positive cash flow;

*Ancillary revenue streams.

With housing prices here in the greater Traverse City area at 10 year lows, and interest rates at all-time historic lows, and inventories very high, you'd think that consumers would be lining the sidewalks, beating down the doors to take advantage of this situation. But these are difficult times, and caution is the keyword of the day. I understand and respect that. But such a confluence of events is not likely to be seen again in our lifetime.

To continue the sailing analogy, consider this quote from Guy Kawasaki, "Every boat is safest in the harbor - but boats aren't meant to sit in the harbor. Boats are designed to go sail the ocean blue. So while it's safer to sit in the harbor, all the action is OUT THERE." If you let your boat sit in the harbor too long, it will be crippled by barnacles. There will come a time when it won't even sail. And while it will have been "safe," it won't have fulfilled its purpose - that is - to sail the ocean blue and make something new!

To those who have the means, this is THE time to take that risk. Invest in real estate. Choose to work with a real estate professional who can assist you in the search for and procurement of investment opportunities. Rental demand is high, and multi-family units are likely to generate significant cash flow for years to come. Safety means caution, but playing it too safe will mean lost opportunities. So, if you've been contemplating investing in real estate, now is the time to throw caution to the wind. Cast off the bowlines. Sail away from the safe harbor. Catch the tradewinds in your sails. Dare to dream, and dare to take risks. Call me today, and let's work together to find the right investment property for you.

One of a Kind Sportsman's Lodge on 80 acres For Sale in Lake Ann, MI

Chuck Gollay (Exit Realty Paramount) — Tue, 21 Sep 2010 09:20:16 -0700

14748 Spear Rd Lake Ann, MI

Click For Listing Website

Click For Interactive e-Tour

Coyotes howl, bears prowl, and turkeys gobble, while somewhere on this 80-acre private parcel, your prized "8-pointer"lurks. A sportsman's lodge, complete with six hunting "condos," Hammond Lodge has easy access 2-tracks to much valued timber. Thisunique property is completely surrounded by state lands, and offers a 30x40 pole barn that is heated,finished, and insulated. A wood burningfurnace is housed in its own building and heats all three structures. Filled with oaks, maples, and spruce trees.

MLS# 1720406 $530,000 2 Bed, 1.5 Bath 14748 Spear Rd Lake Ann MI, 49650	Chuck Gollay EXIT REALTY PARAMOUNT 231-409-0758

There are so many great reasons to live in Traverse City, MI

Chuck Gollay (Exit Realty Paramount) — Fri, 17 Sep 2010 12:07:05 -0700

There are so many great reasons to live in Northern Michigan! Aside from its unparalleled beauty and thousands of lakes and rivers, Northern Michigan consistently makes the list of major publications for its many virtues.

Just recently, AOL rated Mackinac Island amongst the 10 best American islands in the whole country. This island gem is located at the tip of the lower peninsula, accessible by a short ferry ride from either the upper or lower peninsula. It's rustic charm is a throwback to days of old, where horse drawn carriages and bicycles are the only vehicles you'll see on it's cobblestone roads. Filled with great restaurants, antiques, collectibles, and of course, fudge shops, as well as homes and hotels built in the Victorian style, it is a tourist mecca. Mackinac Island is just a two hour journey from Traverse City, a trip my wife and I make at least once each year, just for the day.

Also in recent news, Bon Appetit magazine has ranked Traverse City amongst the top foodie towns in the United States. From our many farmers markets to our many independent restaurants, from celebrity chefs/residents to incredible foodie events like the Epicurian Classic or Paella in the Park, foodies from across the country flock to little Traverse City.

For a town of maybe 30,000, Traverse City has the charm of a small town, yet the cultural diversity and sophistication of a much larger urban area. Life is lived a bit more leisurely, and folks still wave hello to passers-by. If you'd like to live in this amazing area, please visit my website, http://www.ChuckGollay.com to view all the listings. I made the move from Chicago over five years ago, and my only regret is that I didn't do it sooner.