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Traverse City Real Estate Market Is Changing

By
Real Estate Broker/Owner with Cherry Wings Realty 6502373398

With summer fast approaching, many potential buyers are heading for vacations destinations.  Traverse City is one of those many vacation destinations in Michigan.  One very important thing that you need to take into consideration when you are looking for a second home is what is the market currently doing in that area.  It may be completely different than where you are from.  This is one of many reasons to have an experienced Realtor on your side during your research stages and your purchase of any home.  No one knows the current market trends better than an experienced, full-time Realtor. 

 

Don't just pick a name out of a phone book, web site, ad in the newspaper or magazine or from a billboard.  Interview your Realtor before you place one of the largest purchases you will ever make in their hands.  A few things you should ask them are the following:

 

  • How long have you been a Realtor
  • How many transactions did you close last year
  • Is this your full-time job
  • How experienced are then in the market that you are looking in
  • Are they willing to give you references

These are just a few questions that you should ask that potential Realtor.  If you have concerns with their answers you are receiving, interview someone else.  There are plenty of Realtors out there tho choose from, make the right choice.  Becoming a Realtor is a very easy task to accomplish.  Becoming a knowledgeable and experienced Realtor in your market takes time, commitment and a passion for assisting home buyers and sellers with their needs.  Make sure your Realtor has those qualities.

 

Our market in Traverse City, MI has taken a turn in the past few months.  We have started to see inventory levels decrease slightly and we are headed to close to normal inventory levels ( 6 - 8 months works of inventory) for off water homes.  On water homes are still at a very high level of inventory and there are lots of choices for waterfront homes out there.  Values and activity are changing as well.  For waterfront homes is on the increase with activity up almost 25% over this time last year and values up in the double digits.  This is good news for sellers of waterfront homes and should send a message to buyers that GREAT buys on waterfront homes are few and far between.  Lesson to learn from this is ~ if you find the waterfront home that you really like and it is a great deal, you need to act on it immediately and not give someone else time to purchase it out from under you.  Off water homes are now seeing stabilizing pricing and increased activity in certain price ranges.  Homes from the $100,000 - $150,000 ranges are moving very quickly and we are even seeing multiple offers on some properties with over asking price final offers. 

 

In a nutshell ~ times are changing in our Traverse City Real Est.ate Market.  Be sure to consult a Realtor for information on what the market is doing in the particular area that you are interested in.

 

If you are in the following professions, you qualify for my "Great American Honor Program" as my way of saying Thank You to those who serve with a 1% rebate on the purchase or sale price of any home that your purchase through me to be used towards your closing costs.  No paperwork or extra hoops to jump through.  Call today for details  231-409-4140

 

 

Posted by

Christine Stalsonburg, Broker/Owner

Cherry Wings Realty

 

 

231-409-4140

 

 

 

 

 

 

 

 

 

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Comments (3)

JOSH EVANS *JoshEvansHomes 516-655-5000
Village Properties of Mineola, LLC - Mineola, NY
Great job and great blog. Keep up the good work and good luck to you this year. Thanks.
Jun 08, 2012 09:15 PM
Cherry Wings Realty
Cherry Wings Realty - Traverse City, MI
Your Traverse City Michigan Realtor

Thanks Josh, you have a great year as well. 

Jun 08, 2012 09:19 PM
David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

Christine, a very nice localism post today with down to earth, helpful, Real Estate information. Best wishes in Traverse City.

Jun 08, 2012 10:04 PM