2 Bedroom Cottage w/66′ of Private Long Lake Frontage

92 S South Long Lake Rd

Traverse City, MI

Desirable sandy bottom, 53’ Long Lake frontage on south end provides fantastic views of islands & sunrises/sunsets! Addtl sleeping nooks throughout home. Unfnshd walk out bsmt would make nice family room or master bdrm. Home is ready for new owner’s updates to make their own…why pay for someone else’s décor? Nature friendly treed lot means low maintnce and more time to play. Dock/Boat included. Sold as is. Home next door also listed by different owner. Buy both and have estate parcel while opportunity exists.

$340,000

Listing Details

For more information, please call Diane Mack at 231-631-1462 or dianemack@remerica.com

 

Close, But Not Too Close – 3 BR Home on TC’s East Side

3576 Southbriar

Traverse City, MI

Time to move closer to town but yet be just out of town? Well established neighborhood in quiet sub. At this price, a buyer can’t go wrong with this well-maintained, stick built home! Just completed kitchen remodel and additional finished square footage in lower level makes this home bigger than it looks and move-in ready! Room for new owner to add bath in L.L. if desired. Nicely treed yard adds privacy and countryside setting.

Listing Details

For more information, please call Diane Mack at 231-631-1462 or dianemack@remerica.com

 

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

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

 

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

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

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

Home on 80 Acres South of Kingsley

1770 2 1/2 Rd

Kingsley, MI

Open floor plan, lots of storage. Home is currently rough-in stage construction, but will be completed by close. Estimated completion 30-45 days. Over 5000 sqft, 3-car attached garage with full walkout basement. Can also be purchased as 60 acres of vacant land or unfinished home on 20 acres for $299,900 or finished on 20 acres for $399,900.

View Listing Details

Call Sharon Reid-Brown at 231-632-6260 or sharonreid@remerica.com

Newer Spacious Long Lake Township Home

7211 Forest Lodge Dr

Traverse City, MI

Newer home on over an acre of land with awesome countryside views and within minutes of Traverse City. Cathedral ceilings, open floor plan, hickory cabinets, slate & hardwood floors. Walkout LL has finished 4th bath with additional 700 feet to add finishing touches.

Listing Details

For more information, please call Mary Murray at 231-632-2343 or marymurray@remerica.com

 

Centrally Located in Traverse City

3140 Rennie St

Traverse City, MI

This is a bargain waiting to happen…available now for short sale…This nicely designed, appointed and maintained ranch home easily accessible and close to everything there is to do in Traverse City and environs. Close to shopping, schools, professional services, etc…This is a must see.

For more information, please call Gail Matthews at 231-620-6138 or gail@remerica.com