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traverse city real estate traverse city mi real estate traverse city michigan real estate foreclosure reo bank foreclosure foreclosures: Traverse City Mi Foreclosure Home Sales May 2009 - 06/12/09 02:05 PM
So the big question is how many foreclosure homes closed in May 2009 in Traverse City?  26 homes out of 88 were tagged as foreclosure or bank owned in Traverse City for May 2009.  That represents about 29%.  The better news is right now if you complete a search for foreclosure and bank owned homes in Grand Traverse County, there were only 74 such homes available as of June 12, 2009.  That means that there is less than a 3 month supply of foreclosure/bank owned homes on the market today in Traverse City Michigan.  With the number of foreclosures starting to perhaps taper off, … (0 comments)

traverse city real estate traverse city mi real estate traverse city michigan real estate foreclosure reo bank foreclosure foreclosures: Stay away from foreclosures!!! - 05/05/09 12:11 PM
Stay away from foreclosures!
Did I hear you right?  Stay away from foreclosures?  Are you on drugs?  Yes, but that's beside the point.
I was talking to a first time home buyer in Traverse City recently that made a conscience effort to avoid buying a bank owned property.  Why?  He simply said "I got tired of being 3d in line and out bid by other buyers."   It's true.  The competition is fierce in some markets.   Traverse City real estate is getting to that point where buyers are getting frustrated at what I call "the foreclosure cluster offer period whereby people get … (1 comments)

traverse city real estate traverse city mi real estate traverse city michigan real estate foreclosure reo bank foreclosure foreclosures: Traverse City Mi Real Estate March & April 2009 Sold Report - 04/30/09 09:30 AM
Traverse City Michigan Real Estate Sales were strong in March and April of 2009!  There was reported in TAAR MLS 150 closed homes.  Compared with March and April of 2008 that represents approximately a 7% difference.  161 Homes closed in March/April of 2008.  Of those 150 Traverse City Mi Homes that closed this year how many were bank owned or reported as Traverse City foreclosures homes?  49 homes were reported as Traverse City bank owned or foreclosures.  That means that 33% of the closed homes were foreclosures in Traverse City.  For a direct link to see all broker foreclosures in Traverse City MI click here.
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traverse city real estate traverse city mi real estate traverse city michigan real estate foreclosure reo bank foreclosure foreclosures: Foreclosure Home Buyers....Don't miss the "bottom" of this market!!! - 04/20/09 01:29 PM
Are we at the bottom?  How big is the bottom?  Today's real estate market could be likened to reminiscing about your 3d grade bus driver in that no one knows how "big" (his or her) bottom was.  However, whereas you don't care to know the anatomy of your 3d grade bus driver, you are hoping to foresee and understand the "anatomy" of this unprecedented market low as it relates to buying a home or helping someone buy a home. 
There are indications that the market is reaching it's bottom.  This means that home prices may not get any lower.  When you consider that interest rates … (0 comments)

 

Fred Schmidt

Traverse City, MI

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