Northern Michigan Real Estate

NAEBA Establishes New HQ in Arizona

2008-04-17T12:13:13Z

The National Association of Exclusive Buyer Agents (NAEBA), a pro-consumer association composed of real estate licensees who represent homebuyers exclusively, has announced the opening of their new headquarters office in Avondale, Arizona, a Phoenix suburb. NAEBA has also recently hired Kimberly Kahl, a Certified Association Executive, who most recently served as Executive Director of the Arizona Masonry Contractor's Association, as its full-time Executive Director.

I am very proud to serve on NAEBA's Board of Directors. NAEBA members do not list property for sale or represent sellers, and can therefore pledge to assist their buyer clients in finding the right property at the best price possible, without potential conflicts of interest.

These are just two of the many recent positive developments for NAEBA. Our new Executive Director is doing an absolutely phenomenal job for NAEBA, and we as an association are very lucky to have her. NAEBA is poised for strong growth and great things in the future. Keep up the good work NAEBA!

Photos: NAEBA's new Executive Director, Kim Kahl, with 2007-08 President Barry Nystedt at NAEBA's new Headquarters Offices (top); NAEBA's 2007-08 Board in front of NAEBA's new Headquarters in Avondale, Arizona (left).

Sign of the Times

2008-02-25T13:41:47Z

Back a few years ago, a couple of foreclosure notices posted at the Emmet County Courthouse was the norm. Nowadays, they might need to put another anchor in the wall so the bulletin board doesn't come crashing down (or perhaps consider purchasing a bigger bulletin board).

What does this mean for you if you are considering the purchase of a home in Emmet or Charlevoix Counties?

The number of Northern Michigan properties in foreclosure and bank owned properties on the market can potentially be considered good news for buyers. High foreclosure rates can result not only in good buys on bank owned properties, but possible short sale opportunities for homes still in foreclosure.

However, foreclosure sales can be fraught with pitfalls. Under Michigan law, bank owned properties are generally not subject to the Michigan Seller Disclosure Act. Almost all sales are on an "as-is" basis, with no disclosures of any type. In addition, most banks require that you use their form purchase agreements and addendums, which contain just about every type of waiver and release you could ever imagine. Many banks (especially the larger out of state lenders) are difficult, if not impossible, to communicate with.

As someone who is contemplating the purchase of a Northern Michigan foreclosure property, it is imperative that you have representation from both a licensed real estate professional and a licensed real estate attorney to minimize the risks associated with any such purchase. People willing to accept a certain degree of risk can be richly rewarded when purchasing a foreclosure property. However, it is only prudent to minimize that risk wherever and whenever possible.

At Buyer's Broker of Northern Michigan, LLC, we guarantee that we will always represent your interests. Broker/Owner Stefan J. Scholl is also a licensed Northern Michigan real estate attorney. Our buyer clients receive legal representation in connection with their purchase at no additional charge.

If you are considering the purchase of a foreclosure property in Northern Michigan, don't take on any unnecessary risk. Give us a call today.

Buyer's Broker of Northern Michigan, LLC
Toll Free: (877) 2 BUY NMI or (877) 228-9664
Northern Michigan Property Search

2007 Charlevoix County Real Estate Market Statistics

2008-02-18T17:06:00Z

In Charlevoix County, 353 residential sales were reported in 2007, down from 390 sales in 2006, a decline of nearly 10%. The average sales price actually increased, from $256,501 in 2006 to $261,326 in 2007. The median sales price declined approximately 6%, from $155,000 in 2006 to $145,000 in 2007.

Note: Market information courtesy of Emmet Ass'n of Realtors. Charlevoix County real estate sales include single family homes, farms and condominiums.

2007 Emmet County Real Estate Market Statistics

2008-02-18T17:00:58Z

In Emmet County, 436 residential sales were reported in 2007, down from 496 sales in 2006, a decline of more than 12%. The average sales price declined from $344,021 in 2006 to $320,377 in 2007. The median sales price actually increased, however, from $189,079 in 2006 to $190,000 in 2007.

Note: Market information courtesy of Emmet Ass'n of Realtors. Emmet County real estate sales include single family homes, farms and condominiums.

2007 Pellston Real Estate Market Statistics

2008-02-18T16:56:26Z

In the Pellston School District, 31 residential sales were reported in 2007, down from 34 sales in 2006, a decline of almost 9%. Despite the weakness in sales volume, prices actually improved somewhat. The average sales price increased from $119,191 in 2006 to $140,733 in 2007. The median sales price also increased, from $100,790 in 2006 to $106,940 in 2007, an increase of over 6%.

Note: Market information courtesy of Emmet Ass'n of Realtors. Pellston real estate sales include single family homes, farms and condominiums.

2007 Alanson Real Estate Market Statistics

2008-02-18T16:52:01Z

In the Alanson/Littlefield School District, 39 residential sales were reported in 2007, down from 44 sales in 2006, a decline of more than 11%. The average sale price declined from $138,659 in 2006 to $134,812 in 2007. The median sales price also declined, from $106,250 in 2006 to $100,000 in 2007.

Note: Market information courtesy of Emmet Ass'n of Realtors. Alanson real estate sales include single family homes, farms and condominiums.

City Grants Petoskey Pointe An Extension

2008-02-18T16:29:09Z

The Petoskey City Council, by a vote of 4-1, recently granted an extension of the deadline for "substantial completion" of the Petoskey Pointe Project from early November of 2008 to December 31, 2009. The deadline is contained in an agreement between the City and Lake Street Petoskey Associates, the Farmington Hills developer of the Project. The Petoskey News Review reported that work on the hotel/retail/condominium project stalled last year after National City Bank withdrew its financing. The Developer requested an extension of the substantial completion deadline in December of 2007, indicating that new financing arrangements involving overseas funds were close to being finalized. To provide protection for the City, the resolution approved by the City Council calls for financing to be demonstrated and construction on the project to resume by March 15th.

Northern Michigan Real Estate Blog

Condo Short Sale Time Bomb

2008-01-28T16:33:25Z

The Detroit Free Press recently ran an article outlining how overdue condominium association fees can hold up or derail short sales.

I have encountered this scenario on a number of occasions in my capacity as both real estate broker and real estate attorney. What really surprised me about the article are comments to the effect that a condo association has no reason to compromise on association fees in the context of a short sale situation. In my opinion, nothing could be further from the truth.

Section 108(1) of the Michigan Condominium Act clearly provides that association dues constitute a valid lien upon a unit, with priority over other liens except tax liens and sums unpaid on a first mortgage of record. The association lien may have priority over a first mortgage only if a notice of lien evidencing the unpaid dues is recorded prior to the first mortgage. MCLA 559.208.

What does this mean, you ask? It means that if the condo association refuses to compromise on the issue of unpaid assessments in the context of short sale negotiations, it runs the risk of receiving absolutely nothing if the mortgage goes into foreclosure. This is a huge reason for the asssociation to compromise when it comes to negotiating a short sale. One other reason for the association to compromise is to get a new dues paying owner into the unit as soon as possible. While foreclosure proceedings are pending, no dues are being paid, and dues cannot be collected until such time as the bank regains ownership of the property. This could mean an additional loss of nine or more months of dues revenue to the association.

So while a condo association cannot be required to compromise its lien in the context short sale negotiations, there are valid reasons for it to do so, contrary to the information contained in the Free Press Article.

If you are in the market for a Northern Michigan condominium or other Northern Michigan property, and are interested in a foreclosure, short sale or distressed property, please feel free to contact us toll free at (877) 228-9664 or e-mail us at info@buyersbroker.biz.

If you need the assistance of a Northern Michigan Lawyer in connection with a short sale, you may contact Stefan J. Scholl, Attorney at Law, at northernmichiganlawyer@gmail.com.

Buyer Agents Beware

2008-01-24T23:50:27Z

The case of a California couple who are suing their real estate agent because they feel they overpaid for their home in 2004 has ignited a firestorm within the real estate community. The N.Y. Times featured the case in a recent article, and the Today Show will also apparently be running a story on the suit. Amazingly, according to NAR, this is the first known case where a buyer's agent has been sued by a buyer over valuation issues.

According to the article in the Times, Marty and Vernon Ummel purchased a home in 2005 using the services of Mike Little, a veteran agent with Re/Max Associates. The Ummels claim that Mr. Ummel, who was also working as a mortgage broker, encouraged them to obtain their loan through him. The suit charges that the Ummels requested a copy of the appraisal ordered by Mr. Little prior to the closing, but that it was not provided to them until after they moved into the home.

The Ummels apparently realized something was amiss when they got a flier from another real estate agent in August of 2005, a few days after they moved into their home, which showed that a house up the street had just sold for $105,000 less than theirs, even though it was the same size. When they finally got their appraisal, they learned that the house up the street was not only cheaper, but that it also had a pool. In early October of that same year, they learned from a separate flier that yet another similar sized home on the same street closed the same day as theirs but sold for $175,000 less.

The Ummels accuse Mr. Little not only of withholding information, but of exaggerating the value of the house to push them into a deal. In her deposition, Mrs. Ummel testified that Mr. Little had told them "many times that it was a very good buy."

In an interview with the Times, Mr. Little called the case "ridiculous,", adding: "The lady's a nut job. I didn't do anything wrong." He blamed the suit on a declining market. "When people see their home values and assets declining, they always feel there's someone to blame," he said. "This is a dangerous time for all of us in the industry," Mr. Little remarked.

The mortgage broker and the appraiser, who was accused of skewing his report to make the Ummel's house seem worth the purchase price, have both settled out of court. The case against Mr. Little and Re/Max Associates is scheduled to go to trial on Monday, January 28th in San Diego County.

If Mr Little did indeed fail to disclose the appraisal/prior sale information to his clients in order to save the deal, and his reported $30,000 commission, he has almost certainly breached his fiduciary duties to his clients as their buyer's agent (if he was in fact acting in that capacity, as there was no signed buyer agency agreement). The duty of an agent to disclose material information to their client is well-recognized. It is difficult for me to imagine a scenario where a recent comparable sale just up the street of which an agent has actual knowledge would not be considered to be material. If an agent has knowledge of any information which may influence their client's decision whether or not to purchase, that information is material and must be disclosed.

The fact that Mr. Little was also acting as the Ummels' loan originator is also of concern. Buyer agents must be cognizant of any relationship which could potentially pose a conflict of interest between the agent's duty of loyalty to their client and their own financial interests. A number of agents commenting on this case have repeated the old adage that "pigs get fat and hogs get slaughtered." Greed, and the viewing of a client as a profit center, rather than as a principal, can easily lead to legal liability for breach of one's fiduciary duties.

Undoubtedly, there have been a number of instances in recent years where buyer agents have not fulfilled their fiduciary obligations to their clients. Up until now, soaring property values have masked many of these shortcomings. With property values now in freefall, one can expect that buyer agents who have failed to fulfill their fiduciary duties to their clients will be called to task.

Northern Michigan Real Estate Blog

Petoskey is a Great Place to Retire

2008-01-16T00:21:10Z

Petoskey, Michigan is being featured along with seven other towns in the January/February 2008 issue of Where to Retire magazine, in an article entitled "8 Terrific Low-Tax Towns."

The article notes that ". . . in Petoskey, the skiing, sailing and scenery attract many retirees who also enjoy upscale dining options, a charming downtown with boutique shopping and a reasonable cost of living." The article explains that the yearly local tax burden on a hypothetical retired couple with an annual income of $60,000 and a home value of $225,000 would be $4,084.00 This amount would be even lower for a home located outside the city limits. Resort and Bear Creek Townships, for instance, both have lower property tax rates than those in the city proper.

Other terrific low-tax towns featured include Easton, Maryland, Oxford, Mississippi, Gainesville, Georgia, Fairhope, Alabama, Staunton, Virginia, Ashland, Oregon and Kalispell, Montana. Once again Petoskey finds itself in great company! If you are considering places to retire, make sure you come see why everyone is raving about Petoskey. The natural beauty of the area is unsurpassed, we have abundant recreational and cultural opportunities, we are a very safe community with an excellent quality of life, we have a first class regional medical center, and it is an affordable place to live. What more could you ask for?

Construction Spending Down in Grand Traverse County

2008-01-14T11:55:00Z

The Traverse City Record Eagle is reporting that construction spending in Grand Traverse County slumped to $152.6 million in 2007, the lowest amount in more than seven years.

The article also paints a bleak picture for 2008. A representative from Traverse City based Comstock Construction Co. indicates that their business was "pretty static" from 2006 to 2007, but that they are down approximately fifty percent from a record year for construction in 2004. Comstock Construction Co.'s workforce has shrunk from 140 emplyees a few years ago to 60 workers last year.

Hopefully we will be able to cash in on all of the campaign promises which are being made by the candidates on the eve of tomorrow's presidential primary. Although I love living in Northern Michigan, being mired in a one-state recession is getting a little old.

Harbor Springs Real Estate Market Posts Weakest Numbers in Recent History

2008-01-14T11:09:09Z

Harbor Springs real estate market activity continued to slide in 2007, with unit sales and total dollar volume of single family residential transactions posting lows not seen since at least prior to 2001, the last year for which sales statistics are available through the Northern Michigan Multiple Listing Service's computerized database.

There were 118 sales of Harbor Springs homes and Harbor Springs condominiums in 2007, defined as sales of properties located within the Harbor Springs School District. The total dollar volume of those sales was $50,296,695. This compares with 147 sales last year, and a total dollar volume of $64,669,046. Unit sales volume was off almost 20% from 2006 to 2007, while total dollar volume was off almost 23%.

The total dollar volume of sales was the lowest in recent history. The next lowest total was posted in 2001, the last year for which computerized data is available. In 2001, there were 188 sales with a total dollar volume of $52,825,456. Sales in 2001 were impacted by the terrorist attacks on 9/11/2001.

On a brighter note, the median sales price declined only modestly to $261, 500, from $267,500 in 2006 and $269,000 in 2005. The median sales price in 2001 was $225,000.

Note: Based on information from the Northern Michigan Multiple Listing Service for the period from January 1, 2001 - December 31, 2007.

Petoskey Real Estate Market Year End Report

2008-01-08T08:35:24Z

Petoskey real estate sales volume decreased in 2007 from 2006, which is not a surprise based upon the weak state and local economies. Unit sales of single family homes and condominiums in the Petoskey School District decreased to 255 units from 282 units, a decline of over 9%. Petoskey home sales by dollar volume also fell, from $98,896,350 in 2006 to $82,476,049 in 2007, a decline of more than 16%.

Despite the decline in sales activity for Petoskey homes and condominiums, the median Petoskey home price actually increased by just under 1%, from $188,500 in 2006 to $190,000 in 2007. Average days on market was almost unchanged, from 200 days in 2006 to 199 days in 2007 for those homes which sold. The average price paid for a Petoskey home dropped from $350,696 in 2006 to $323,435 in 2007.

Note: Based on information obtained from the Northern Michigan Multiple Listing Service for the period from January 1, 2006 - December 31, 2007.

Many Petoskey Commercial Real Estate Projects Planned

2007-12-07T08:38:23Z

It has been a busy month for area planners as a host of approvals are being sought for new commercial real estate projects in the Petoskey area.

Walgreens is reportedly planning on building a new store on Petoskey's north side, at the site currently occupied by Kentucky Fried Chicken and the old Schelde's restaurant. Oleson's is seeking approval to construct a new store on U.S. 31 North across from Dave Kring's Chevrolet - Cadillac car dealership. JoAnn Fabrics is looking to relocate from their current location in the Glen's North Plaza to Bear Creek Plaza (near Wal-Mart and Home Depot, and an MC Sporting Goods is planning to locate there as well. And perhaps the biggest planned development of them all is a proposed Meijer superstore on U.S. 131 just South of the former Victories Casino site. Now that is a lot of activity for one month in Petoskey, wouldn't you say?

If you are considering a commercial real estate project in Northern Michigan, feel free to contact us. We would be happy to discuss the value added services we provide to our Northern Michigan commercial real estate clients. Stefan Scholl, Associate Broker, is also a Michigan licensed attorney practicing in the areas of residential and commercial real estate. We have represented clients statewide in the purchase of commercial real estate, and offer our commercial real estate clients generous commission rebates to be applied to their legal fees. Buyer's Broker of Northern Michigan, LLC can be reached toll free at (877) 228-9664 or (877) 2 BUY NMI. We look forward to the opportunity to assist you with your Northern Michigan commercial real estate needs.

Northern Michigan Regional Hospital in Petoskey

2007-12-06T14:02:07Z

Northern Michigan Hospital has changed its name to Northern Michigan Regional Hospital. Along with the new name comes a new logo as well. Very classy.

How very fortunate we are to have such an excellent regional referral hospital in our small Northern Michigan community, with its kind and caring professional staff providing almost every type of specialized care available.

If you are considering an employment opportunity with Northern Michigan Regional Hospital and have questions about our beautiful area, we would be pleased to speak with you about our community and the local real estate market without obligation. We have in depth knowledge of local housing opportunities, area neighborhoods and schools, market conditions, etc.

Please rest assured that if you do give us a call toll free at (877) 228-9664 or (877) 2 BUY NMI, you will not be harassed by a pushy salesperson. That is because we at Buyer's Broker of Northern Michigan, LLC are not salespeople. We have a unique business model in the area of representing buyer's exclusively. We consider ourselves to be buyer consultants, advisors and counselors. Rather than trying to sell our clients a piece of property, we help them find what they are looking for, and then help them negotiate the best price and terms.

According to Medical Economics Magazine, "a buyer's agent can help you negotiate the best deal possible by providing a comparative market analysis, recommending appropriate professional inspections, giving you information about the area that the seller's agent isn't required to disclose, and reviewing the settlement statement and other relevant documents. Generally, you don't pay for this guidance. Instead the buyer's agent splits the commission paid by the seller to the listing agent."

Diversion Magazine for Physicians mentioned that "A 1992 study found that 200 relocating workers who used buyer brokers paid an average of 91% of the offering price, whereas those using traditional brokers paid 96%.

Our company specializes in relocation and buyer agency. We don't list properties for sale or represent sellers. We are completely, 100% loyal to our buyer clients and their interests. As local experts, we can save you money and offer you peace of mind when relocating to the area. If you are a transferee unfamiliar with either Petoskey, Harbor Springs, Boyne City, Charlevoix and the surrounding areas, we will give you all the facts about a particular home or location, both good and bad. A listing agent may not be as willing to offer information that might prove detrimental to a sale, because he or she works for the seller. Their duty is to sell the property they have listed. On the other hand, an exclusive buyer agent only represents buyers and does not have listings. We can provide our clients the objective information they need to make the right decision regarding a home or property.

If you are considering accepting a position with Northern Michigan Regional Hospital, please give us a call toll free at 877-228-9664. We would be pleased to share our knowledge of the area and the Northern Michigan real estate market with you. We have successfully represented a number of Northern Michigan Regional Hospital transferees, and look forward to the opportunity to be of service.

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Northern Michigan Regional Hospital is our pot of gold at the end of the rainbow!

Exclusive Buyer Agents Are Not Salespeople

2007-11-13T12:54:57Z

The National Association of Exclusive Buyer Agents (NAEBA) is holding its annual meeting in Las Vegas this week. One of the topics of discussion is marketing the concept of exclusive buyer agency.

The topic of agency is confusing, even to many real estate agents. How can exclusive buyer agents differentiate themselves from traditional buyer agents who also list properties and represent sellers.

I like the following concise explanation: "Exclusive Buyer Agents are not salespeople. Exclusive buyer agents are buyer consultants, counselors and advocates."

Here is one of the more humorous explanations: "Listless, one-sided and proud of it."

If you are looking for a real estate agent who will represent your interests exclusively in connection with your purchase of a Northern Michigan home or Northern Michigan vacation property, contact us at Buyer's Broker of Northern Michigan, LLC. We will pledge our undivided loyalty to you in connection with your purchase of Northern Michigan real estate. Feel free to give us a call toll free at (877) 228-9664 or (877) 2 BUY NMI.

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Is Zillow in Google's Sights?

2007-11-08T00:54:55Z

Does Google's plan to dominate the ~~world~~ real estate industry involve a Zillow takeover? Will the MLS finally be eliminated once and for all? I'm not sure how this rumor started, if it even is a rumor, but check out this vignette, which includes Saul Klein from Internet Crusade, Rich Barton of Zillow, Justin McCarthy of Google, with Joel Burslem and Greg Swann thrown in for good measure.

Courtesy of The Real Estate Bloggers via Rentvine

p.s. - Thanks Greg for sticking up for us real-a-tors.

p.p.s. - We won't have to worry about SEO anymore if we all work for Google!

Buying a Home? Look for an Exclusive Buyer Agent

2007-07-09T08:43:37Z

Do home buyers really need the help of a buyer's agent in a buyer's market? According to a recent article "Real Estate: Call Your Agent," by Linda Stern in the July 16, 2007 edition of Newsweek, those working without an agent may be losing out in a couple of big ways.

First off, without an agent to search the MLS on their behalf, house hunters may be missing out on properties which may suit their needs. Also, without an agent negotiating on their behalf, potential home buyers may not get their best deal.

However, when looking for an agent, home buyers are advised to seek out the services of an exclusive buyer agent who is a member of the National Association of Exclusive Buyer Agents (http://www.naeba.com/). Stephen Brobeck, of the Consumer Federation of America, warns that agents whose firms also list properties for sale may steer clients to company listings first, which Brobeck calls "an irreconcilable conflict of interest".

Buyer's Broker of Northern Michigan, LLC is the only exclusive buyer agency serving the Petoskey, Harbor Springs, Charlevoix, Boyne City, East Jordan, Bay Harbor, Burt Lake and Walloon Lake real estate markets. Contact us and find out why the experts recommend using an exclusive buyer agent for you next real estate purchase.

Michigan House Swap

2007-07-01T12:04:27Z

Metro Detroiters who haven't been able to sell their homes are turning to Craigslist to try and swap them, according to a recent story which ran in the Detroit News, "In a Tough Market, More Try Swapping Homes." According to the article, there were only one or two listings in the House Swap section of the Metro Detroit Craigslist in May, compared with about a dozen listings a week recently. With the publication of this article in the News, I would expect the number of house swap listings to explode.

Leave it to good ol' American ingenuity to try and figure out a solution to the problem of homes that won't sell. This seems like it could actually work for some, especially those who are trying to trade up or downsize in the same market. House swapping is an idea which should be approached cautiously, however. I wouldn't recommend that anyone try doing it without seeking the professional advice of both a Realtor and an attorney. Just because a swap is involved doesn't mean that houses are not actually being bought and sold. Major considerations include proper market valuation and the satisfaction of existing liens.

Although I personally haven't been involved in any trades or swaps, it wouldn't surprise me to see this become more of a common event in our current marketplace.

Petoskey Featured in "101 Best Outdoor Towns"

2007-06-28T11:55:16Z

Petoskey is an ideal place for lovers of the outdoors, as confirmed by former Men's Journal editors Sarah Tuff and Greg Melville, who have featured Petoskey in their recently released book, "101 Best Outdoor Towns."

Having experienced our "million dollar" sunsets, the authors share that "The Caribbean has nothing over the view from town as the sun extinguishes into Lake Michigan behind the creamsicle horizon." Searching for a romantic getaway? Couple the beautiful sunsets with "the back-in-time feel of the artsy downtown Gaslight District, the long beach walks and the views of Little Traverse Bay from the top of sandy Old Baldy, and you've got one of the most romantic spots in the Midwest."

Outdoor options featured in the book include the Little Traverse Wheelway bicycle path, which runs from Harbor Springs to Charlevoix, the North Country Scenic Trail and the Petoskey State Park hiking trails, fishing, swimming and paddling on area lakes, rivers and streams, and both downhill and x-country skiing at area resorts and trails. Congratulations to Petoskey on being recognized as one of the "101 Best Outdoor Towns." Come to Petoskey to see and enjoy all the area has to offer for yourself!

Lock Boxes - The Key to a Successful Sale

2007-06-25T12:04:16Z

Are you wondering why your house or listing hasn't sold? As a successful buyer's agent, I can tell you for a fact that it may be because your real estate agent hasn't installed a lockbox.

Lockboxes come in many varieties, from simple alphabetic or numeric combination models to more sophisticated electronic versions. The bottom line is that they all serve the same purpose, to allow licensed real estate agents easy access to your home to facilitate showings to potential buyers.

Once again this past weekend, the importance of the value of having a lockbox became evident. A good friend of mine who lives overseas was in town for the weekend and was interested in taking a look at summer resort home in the million dollar plus price range. Luxury resort home buyers like my friend and his family are not standing on every street corner, so it is important to capitalize on opportunities to have your house or listing shown to such buyers. As is remarkably typical in my marketplace, there is no lockbox installed at the home. The listing office was closed on Sunday, the only day my client could look at the property, and hence no showing took place.

As a property owner or agent, you may have no idea how many times buyer's agents or qualified prospects are unable to view you home or listing due to the fact that the home is not readily accessible by other licensed real estate agents. Oftentimes, I will be out showing properties to clients on the weekends, and after spending time with my clients it becomes evident that a property which I have previously shown would be of serious interest. Without a lockbox, it becomes very difficult to arrange spur of the moment showings to qualified parties who are oftentimes from out of town, and unable to return for a scheduled showing.

If you are selling your property, insist on the installation of a lockbox on your home. If you have a home listed for sale and are wondering how to get it sold, install a lockbox and make sure your listing is accessible for other agents to show. No matter how elaborate your marketing plan, if agents do not have ready access to your home and cannot easily arrange showings, your property or listing may not sell. Don't lock the door to a potential sale, install a lock box!

Energy Saving Tool

2007-06-09T03:40:51Z

Well, I guess today is my version of the Home Shopping Network on ActiveRain. I stumbled across this product online recently and just had to order it, it sounded so interesting. It is the P3 Kill A Watt Electricity Load Meter and Monitor, available from NewEgg.com for $21.99 with free shipping. For an energy miser (er, I mean conservationist) like myself, the thought of needlessly wasting electricity kills me, which is why almost every light bulb in my house is a compact fluorescent.

There are some appliances which I currently run which I think might need to be replaced. A prime example is a vintage reach in freezer recently donated to me by my in-laws. I suspect that by replacing this unit with a more efficient Energy Star model, I will save enough on my electric bill to recoup my replacement cost within a couple years. I am hoping that the Kill A Watt Electricity Load Meter will give me a definitive answer to this and many other questions I have regarding my electricity usage. How much money does it cost to run that dehumidifier constantly? How much electricity (and money) is wasted by forgetting to turn off a lamp for a day? Should I keep running my SkyBox vending machine to keep my beverages cold, or should I start drinking warm beer?

I can't wait to get this little gadget. Hopefully it will enable me to make informed decisions regarding responsible energy usage.

Wind Power - Can We Use It?

2007-06-09T01:38:33Z

I received an e-mail flyer from Costco tonight which intrigued me. Advertised was an Air X 400 watt wind turbine generator, which appears to be designed for home use. I read through the owner's manual, which is available online, to see how it works. While I am fascinated by the wind turbine, I wonder how the power can be used? It appears that the wind turbine is used to charge deep cycle batteries using direct current. How does one then utilize the power in the deep cycle batteries? Any thoughts on this subject would be welcome.

Are We Getting Gouged at the Gas Pump?

2007-05-24T22:28:32Z

Are we getting gouged at the gas pump? I certainly have my suspicions. It almost goes without saying that around Memorial Day of every year, gas prices spike in Michigan, just in time for the busy summer driving season.

I have been following the gasoline futures (Miny Gasoline Rbob) for at least six months now, and up until very recently, retail gas prices in Petoskey, Michigan have tracked the futures price very closely, averaging seventy cents a gallon more than the futures price.

With the futures closing at $2.36/gallon today, I would have expected the price of gas to be around $3.06/gallon locally. Why then is the price at the pump fifty cents more than that?

A couple of weeks ago, while the futures prices for gas were climbing, the retail price was skyrocketing. Now AAA is reporting that Michigan's average gas price of $3.50/gallon is second only to Illinois at $3.51/gallon. In the meantime, as soon as it looks as if prices may begin to dip, word surfaces of another refinery "outage" for maintenance, or whatever other excuse the oil companies can think of to keep prices high.

I don't think you can blame the gas station owners. From everything I've read, they make only pennies per gallon. One Wisconsin gas station owner is so upset with gas prices, he closed his station for a day in protest.

Are there any solutions? I have concluded that the only way to bring down the price of gas is to reduce demand. I, for one, plan to start riding my bike to work on days when it is feasible. If twenty or thirty million other people do the same thing, we may be on to something.

Northern Michigan Real Estate Market Update - April 2007

2007-05-23T22:49:31Z

Residential Sold Information for April, 2007
	Total MLS	2006	2007
Number of Sales		92	79
Average Selling Price		$245,211	$210,214
Median Selling Price		$132,250	$120,000
Units on Market		1901	2368
______________________________________________
# of Sales Avg/Median Price
Antrim County	5	$173,740/109,900
Charlevoix County	33	$174,895/118,000
Emmet County	30	$286,386/145,125
Cheboygan	7	$159,185/$108,000
All other counties	4	$65,200/$68,400

	YTD 2006 # Sales Avg Pr/Median Pr	YTD 2007 #Sales Avg Price/Median Pr.
ALL AREAS	300 $286,547/$145,000	259 $221,158/$130,000
Antrim County	12 $96,564/$ 91,500	17 $112,052/$87,000
Charlevoix Cty	110 $259,178/$138,950	98 $198,942/$117,955
Emmet County	130 $376,081/$176,000	111 $286,623/$172,000
Cheboygan County	26 $126,676/$85,000	17 $179,270/$147,000
All other Counties	22 $186,897/$88,000	16 $63,500/$56,000

Note: Based on information obtained from the Northern Michigan MLS/Emmet Association of Realtors for the periods from January 1, 2006 - April 30, 2007.