3BR/2BA Home on 2+ Acres West of Interlochen

11091 Emerald Forest

Interlochen, MI

Gorgeous up north setting!!! This 3 BR/2BA home is surrounded by hardwoods and pines with wildlife galore! It also boasts a remodeled master bath, screen-in back deck, newer carpet, natural fireplace, oversized 24 x 36 detached garage, storage shed, central air, all appliances, water softener, ceiling fans, IMMEDIATE OCCUPANCY! Close to golf courses, lakes, skiing, snowmobiling, recreation right out your door! This is a bank owned home and all offer WILL BE CONSIDERED!

Listing Details

For more information, please call Jeff Yule at 231-392-6795 or jeffyule@remerica.com

Cottages for Sale – Crystal Lake Waterfront

3410 Crystal Dr

Beulah, MI

Quaint and cozy classic cottage nestled away from the road on a wooded 3 plus acre parcel with 100’ of Crystal Lake frontage. Dock & hoist included in sale.

Listing Details

For more information, please call Judy Stovak at 231-649-9777 or judy@remerica.com

 

Home on 6+ Acres Near Kingsley

770 Clous Rd

Kingsley, MI

3 BR 2 Bath ranch home with 9’ ceilings throughout on 6.13 acres with plenty of privacy and room to expand! Great master suite with Jacuzzi Tub! Walkout 13 block basement plumbed for an additional bathroom and partially finished with tons of potential for extra living space. Also, 149 Sq Ft deck and beautiful country view!

Listing Detail

For more information, please call Jeff Yule at 231-392-6795 or jeffyule@remerica.com

 

Calling all Investors – Make Money!

348 Haze Rd

Beulah, MI

2 bedroom, 2 bath home with large rooms, full basement with room for 2 more bedrooms in lower level with a third bath too! Private 2 acres, 2 car attached garage. Contact listing agent for details!

Listing Details

Fore more information, please call Sharon Reid-Brown at 231-632-6260 or sharonreid@remerica.com

Real Estate – The Good, the Bad and the Ugly

Having spent most of my life living and working overseas in both a military and corporate career in such places as South America, Asia and the Middle East, I can not begin to tell you the longing I felt to return to my roots in the Grand Traverse Region. After finally returning home I soon found myself drawn towards yet another career: The Business of Real Estate.

 

While living overseas I had the opportunity to see my real estate investments in the Grand Traverse Region go from The Good of 1970’s to The Bad of the 1980’s and back to The Good in the 1990’s. So what’s my point? Since the inception of what I call the Hyper Media Era (HME) we have been laced with information bombardment 24/7 via our major TV networks, cable networks, newspapers and of course the internet. Like the stock market, real estate has been subject to significant cyclic ups and downs in both the short term and the long term as a matter of the normal order of these things.

 

The difference this time is that during the boom of the 1990’s the HME contributed strongly to the illusion that you could invest in real estate of any kind and you would grow rich through appreciation. When that theory began to unravel the HME then contributed to the acceleration of reduced confidence in real estate as an investment.  The HME has, in a very short period of time (when compared to previous cycles), created the illusion now that everything related to real estate in our region is absolute doom and gloom. Everyone is in foreclosure, property values have greatly decreased across the board, that there are no buyers, banks are not lending money and that real estate companies are failing.  The bottom line is that in a pre-Hyper Media Era the awareness of and manifestation of our current problems would have taken much more time to set in and may have not been as severe. The difference is that now the purveyors of gloom and doom have access to the multiplicity of venues now available in the HME.

 

HERE ARE THE FACTS:

 

Single family home sales in the Grand Traverse Region during 2007, when compared to 2006, were down by less than 4% according to Traverse Area Association of Realtors statistics and reported commercial property transactions were almost identical for the last three years. Vacant land sales were down for the same period most likely reflecting the abundance of improved lots currently for sale.

Nationwide fewer than 5% of homes are in foreclosure and with commercial sales and leases remaining steady I challenge someone to show me The Ugly. Another gauge of the reality of the situation is that relatively few Realtors have dropped out of the business, at least locally. This is clear indication that many professionals continue to earn a living selling real estate. Yes, there is a significant inventory of foreclosed homes, short-sales, vacant land and some commercial space but in general business continues unabated in spite of the HME. There have been no major real estate company failures and in fact many new companies have opened throughout the region and are thriving. My own franchise company Remerica, is currently building out new office space on Garfield Avenue to meet current and future anticipated requirements and prepare for The Good to return as we complete our adjustment into the new economy.

 

Our Region is unmatched in natural beauty, community and talent. Times are tough and uncomfortable for many especially with increased fuel prices impacting all facets of our lives. For some their lives have been turned upside down as they have seen depreciation in property values, loss of employment and resultant foreclosures. To use a Navy term, steady as she goes, we are not nearly as bad off as we have been lead to believe.

 

Brent Nichols
Broker/Owner
Remerica-Traverse City
231.941.8283 office
800.941.8283 toll free
231.941.8262 fax
231.883.1186 cell
brent@remerica.com
www.RemericaTC.com

Nicest Build Lots West of Traverse City

Shaneth Lane

Interlochen, MI

Locates just minutes west of TC & Munson, close to lakes, state land yet private setting w/ affordable prices. These 3+ acre build sites are pleasantly deed restricted, surveyed & ready to go! Choice of Benzie Central or Traverse City schools.

Each $39,900

Listing Details

For more information, please call Sharon Reid-Brown at 231-632-6260 or sharonreid@remerica.com

 

Lease to Own Near Interlochen

17629 Garvin Lane

Interlochen, MI

Centrally located between Crystal Lake, Crystal Mountain & Traverse City. Newer ranch home on nicely landscaped 2.5 acres. Includes full appliance package, wood laminate flooring in the kitchen, 2-car attached garage & home warranty.

For more information, please call Sharon Reid-Brown at 231-632-6260 or sharonreid@remerica.com

Cute & Cozy Home Near Lake Ann

6450 Sugar Maple Lane

Traverse City, MI

Cozy home on corner lot in great neighborhood. Close to Lake Ann and Traverse City. Neutral decor, hardwood floors, vaulted ceilings, newer updated kitchen and carpet. Finished family room with woodstove in lower level. Fabulous mudroom off garage and plenty of storage. You will want to call this “home.”

For more information, please contact Amy Jamieson at 231-620-2255 or amyjamieson@remerica.com

Weekly Market Update

 

Week of: Monday, May 05, 2008

Present Market Conditions
As widely anticipated, the Fed cut the Fed Funds rate by one quarter point. Investors now believe that the Fed is less worried about slowing economic growth. The unemployment rate slipped to 5.0% showing signs of improving which supports expectations the Fed will pause cutting rates. This resulted in less volatility and good news for mortgage markets as rates have dipped slightly.

Expectations
Expectations for a future Fed rate cut have fallen to very low levels. According to Wall Street economists, the Fed is expected to remain in a holding pattern and assess the effects of last week’s rate cut, the economic stimulus package and the decrease in the unemployment rate. Though the economic calendar is very light this week with mostly second-tier data releases, of interest is the ISM service sector survey (Monday), pending home sales index (Wednesday), and productivity (Wednesday).

Guidance
With current mortgage rates still at historically low levels, now is the time to contact Georgie so she can structure a mortgage solution to meet your financial goals.

 

 

 

Traverse Mortgage Corporation

   (231) 947-9700        (800) 968-3680 

mailto:georgie@traversemortgage.com

Mortgage Market News for the week ending April 25, 2008

Looking Ahead to the Fed

With little scheduled economic news and a couple of major events on the horizon, there was little change in mortgage markets during the week. The daily volatility remained high, however. Mortgage rates ended a little higher than the prior week, and the stock market was almost flat. Investors were mostly preparing for next week’s Fed meeting and Employment data.

Investor sentiment for future Fed actions has shifted significantly over the last couple of weeks. Just weeks ago, investors were expecting an additional three quarters of a point of Fed rate cuts over the next two meetings. Now many believe that the Fed will cut rates by only one quarter point at Wednesday’s meeting and then will hold rates steady. The thinking is that the Fed will pause to consider the effects on the economy of prior rate cuts, other expansionary monetary policies, and fiscal stimulus packages (such as the tax rebates). With energy prices at record levels and the dollar at historic lows, the Fed wants to balance the risk of slower economic growth with the need to prevent higher future inflation. This path could be good for mortgage markets, as higher inflation would generally lead to higher mortgage rates.

In the housing sector, the market for existing home sales showed additional signs of stabilizing, while new home sales displayed weakness. Matching expectations, March Existing Home Sales fell a little from February. Median home prices fell 8% from one year ago, while inventories of unsold homes rose slightly. March New Home Sales fell 9% from February. The chief economist of the National Association of Realtors (NAR) suggested that housing market conditions varied greatly in different regions of the country. The NAR predicted that housing market activity will be flat for a few more months and then will pick up during the second half of the year.

Brought to you by:

Corey Phelps

Front Street Mortgage

Phone: 231-360-7283