Traverse City Real Estate Blog : Traverse City real estate, Antrim County real estate, Community Information

New Traverse City Real Estate Listings Search now Available

Jon Becker — Wed, 15 May 2013 19:22:00 GMT

I have recently greatly enhanced my Traverse City area Real Estate Listings search on my website www.c21jb.com You can now search the most current listings and exclude listings that already have accepted offers and pending sales on them and I have included more specific search options for you to better narrow down to what best fits your needs.

You may search by cities, counties, waterfront etc. for the Grand Traverse area, Central Michigan and NE Lower Michigan. There is no sign in required or password you need, just view my Search MLS and browse until your heart is content. 24 hours a day, 7 days a week.

Please feel free to also browse the community information and links ( dining, hotels, shopping, local events, lake maps, recreational opportunities, golfing, skiiing, and much more) as well as property tax estimators, mortgage calculators and contacts etc.

I hope this is very helpful and much easier to use and do please contact me with any Traverse City real estate questions or if you are considering buying or selling in the Grand Traverse ( Grand Traverse, Leelanau, Antrim, Benzie, Kalkaska counties) and beyond.

Sincerly,

Jon Becker - Century 21 Northland

jon@c21jb.com

231-342-5401

www.c21jb.com

Traverse City MLS Board - more options for our clients

Jon Becker — Mon, 13 May 2013 17:00:00 GMT

Three Michigan Associations of REALTORS® Launch a New Collaborative Multiple Listings Service

Submitted by NGLR on Mon, 2013-04-01 10:06

Today it was announced that three Michigan associations of REALTORS® have launched a new collaborative multiple listings service (MLS) venture to serve as a nucleus of what is hoped will be a truly regional real estate MLS solution.
The new entity known as the Northern Great Lakes REALTORS® MLS is a cooperative partnership between the Central Michigan Association of REALTORS®, the Northeastern Michigan Board of REALTORS®, and the Traverse Area Association of REALTORS®.
This collaboration, which began the process of mapping and merging data fields eighteen months ago was released to the collective REALTOR® membership of these three boards last week. However, the process and ensuing activity was based upon an ongoing conversation to regionalize MLS operations in this part of the state that has spanned the last twelve years, and an Effective MLS Market Solutions (EMMS) research study funded by a grant from the National Association of REALTORS® that was completed in late 2010.
The new public facing MLS website can be found at www.nglrmls.com or by visiting any of the websites for the three partner organizations.
This regionalization effort is designed to potentially and on a discretionary basis include REALTOR® association MLS operations located in the central and the northern half of the Lower Peninsula of Michigan, or an area many consumers feel represents a Northern Michigan experience. Future considerations may also open the door to someday collaborate with the Upper Peninsula REALTOR® MLS operations.
The Northern Great Lakes REALTORS® MLS (NGLR) is using the powerful Paragon 5™ MLS software developed by LPS real estate solutions to provide a high level of service and cutting edge real estate listings tools for their collective membership and to power a robust public facing property search function.

Search ALL Traverse City area real estate and the new Central Mi. and Ne Mi. real estate listings. Free 24 hours a day...7 days a week!

Traverse City Real Estate Is Red Hot

Jon Becker — Mon, 15 Apr 2013 16:34:00 GMT

April 15, 2013

Numbers don't lie, and the statistics and stories alike point to a new real estate boom in Traverse City.

The residential real estate rebound is a classic case of supply and demand, with supply of homes in Traverse City down 41 percent in February 2013 compared to a year ago. The backlog of unsold homes we heard about during the recession has finally evaporated, leaving sellers in the driver's seat.

"The inventory is very low and it’s turned Traverse City into a seller’s market," observes Meagan Luce of Century 21 Northland and Traverse City Area Association of Realtors President-Elect. "We are seeing multiple offers on properties and sale prices higher than the comparable sold sales," she adds.

After a few years of struggles, the seller's market is creating problems for prospective buyers.

Camille Campbell of Century 21 Northland: "This is a challenging situation for buyers to come to grips with, as it is a complete change from the [last] couple of years. But it is a very exciting time to be a seller."

Campbell says she recently listed a home near the Grand Traverse Mall.

"It went on the market in the morning and had eleven showings set up within three hours. We received an offer on the first day that was accepted. The homes that are in very good condition are getting a great deal of attention and not staying on the market more than a few days."

The short supply is also driving average sale prices up and average number of days homes are for sale down. Sale prices were up 5 percent and average days on market down 8 percent in February versus 2012. The average sale price of a single family home in Traverse City in February was 94 percent of its asking price, quite a rebound from sale prices from 2009-2012.

Judy Robinson at Coldwell Banker Schmidt says the current market has caused a "buying frenzy among realtors. Due to the lack of houses for sale we are seeing multiple offers, bidding wars and disappointed buyers. The pendulum has definitely swung in favor of the seller," she adds.

She tells of a frustrated buyer who made an offer $12,000 higher than the asking price of a home as soon as it came up for sale, only to learn of seventeen showings the first few days. The offer was declined because of a better offer.

"I even had a buyer from Texas make an offer on a house from a video that I sent them."

Luce tells of a client engaged in a bidding war for a home they wanted, adding, "I have about 10 other stories just like this – it's tough to be a buyer right now!"

But surely realtors have some extra pull when they're looking for themselves? Not so, says Andy Stireman of Coldwell Banker Schmidt, who is a prospective buyer himself.

Stireman heard of home on Anderson Street about to be listed and quickly drove over for a visit. Though only one or two other realtors even knew about the home about to be up for sale, he hurried home to get his girlfriend.

"I wanted to show it to her, but it sold before I was able to get her in there," he says.

courtesty of : The Ticker News-Traverse City

Search all Grand Traverse area real estate listings at www.c21jb.com

Century 21 Northland Dominates Regional Awards Ceremony

Jon Becker — Wed, 27 Feb 2013 17:43:00 GMT

TRAVERSE CITY, MICH., February 26, 2013 – Last weekend was a great one for Century 21 Northland, as the local real estate brokerage left a regional industry awards event with the lion’s share of accolades. The ceremony, held by Century 21 Northern Michigan Broker’s Council at the Grand Traverse Resort, recognizes the best in annual sales throughout the region. Numerous Northland agents were recognized for their hard work and positive results, while the Northland brokerage was named as both the number one office and number one company in the region.

The pair of awards together marks Century 21 Northland as one of the most successful real estate companies in the region. Meanwhile, four Northland agents, including Mike Annelin, Cory Beuerle, Bridget Carefoot, and Suzanne Volz, were recognized with Centurion Producer status, a prestigious award for standard-setting sales performance among Century 21 agents.

Masters Producer awards were presented to other top-performing associates, including Camille Campbell, Carolyn Collins, Lou Anne Ford, Andrea Galloup, Connie Kroll, Meagan Luce, Bob McCall, Ron Williamson, while Silver or Gold Sales Achievements were earned by Jon Becker, Faye Fitch, Renae Hansen, Mary Hoyt, David Kramer, Kevin Molby, Laura Sielaff, Jim Totten, Bill Wheadon, and the two-person teams of Burt & Julie Williams and Linda Zajac & Julia Lilley.

”We are thrilled with the continued success of our associates and of our office as a whole,” said Northland co-owner Jason Kudary. “The sheer number of our producers who were recognized last weekend just shows what an outgoing team of full-time professionals we have within our company. That kind of hard work and positive energy is infectious. We’re looking forward to another terrific year!”

About Century 21 Northland
Century 21 Northland is northern Michigan’s fastest growing real estate brokerage, serving customers from offices in Traverse City, Suttons Bay, Frankfort, Glen Arbor, Beulah and Elk Rapids. The company is locally owned by Brad Platt, Jason Kudary, and Julia Lilley and is supported by more than 35 licensed realtors. The company was formed in 2006. The company is part of the global Century 21 network, which includes more than 6,600 offices worldwide. More information can be found at www.c21northland.com or by calling (231) 929-7900.

Traverse City Real Estate Market Report

Jon Becker — Mon, 03 Dec 2012 16:29:00 GMT

Weekly Market Statistics

11/26/2012 thru 12/02/2012

119 New Listings

97 Sold Listings

256 Pending

Sales By Classification

74 Residential $18,000 to $1,235,000 Median $142,750 Mean $174,953

20 Vacant Land $5,300 to $401,000 Median $36,500 Mean $63,652

3 Commercial $48,500 $192,000

Sales by Location

19 Antrim County

10 Benzie County

38 Grand Traverse County

10 Kalkaska County

15 Leelanau County

04 Wexford County

01 Outside Areas

Expired Listings 181

Year over Year Comparison for Grand Traverse County on & off water homes

Off Water Homes All Values

Current Listings 587

Sales 12/10-12/11 822 12/11-12/12 938

Average DOM 144 or 4.8 Months

Value Direction Up 6.7%

Market Activity Up 14.1%

Inventory Supply 7.5 Months

Direct Water Homes All Values

Current Listings 189

Sales 12/10-12/11 136 12/11-12/12 169

Average DOM 209 or 7.0 Months

Value Direction Up 8.2%

Market Activity Up 24.3%

Inventory Supply 13.4 Months

Very strong week with just under 100 sales. There was also a noticeable drop in active listings. With tight inventories in some market segments and strong demand, sellers have a great opportunity this winter. Typically there is a significant decline in market activity along with a drop in inventory, we are seeing the drop in inventory, however demand has remained strong creating a bit of an opportunity for sellers.

Have a great week and enjoy the warm weather, winter is not far behind!!

Sincerely,

Robert J. Reamer

Real Estate Expert Since 1978

Certified General Appraiser

Traverse City Real Estate Weekly Market Report

Jon Becker — Mon, 17 Sep 2012 18:52:00 GMT

Weekly Market Statistics

09/03/2012 thru 09/09/2012

177 New Listings

102 Sold Listings

279 Pending

Sales By Classification

84 Residential $35,000 to $613,000 Median $167,500 Mean $196,533

17 Vacant Land $6,000 to $460,000 Median $42,000 Mean $102,111

1 Commercial $115,000

Sales by Location

05 Antrim County

11 Benzie County

56 Grand Traverse County

12 Kalkaska County

15 Leelanau County

02 Wexford County

01 Outside Areas

Expired Listings 93

Year over Year Comparison for Grand Traverse County on & off water homes

Off Water Homes All Values

Current Listings 698

Sales 09/10-09/11 828 09/11-09/12 910

Average DOM 149 or 4.9 Months

Value Direction Up 2.7%

Market Activity Up 9.9%

Inventory Supply 9.2 Months

Direct Water Homes All Values

Current Listings 257

Sales 09/10-09/11 134 09/11-09/12 160

Average DOM 213 or 7.1 Months

Value Direction Up 4.7%

Market Activity Up 19.4%

Inventory Supply 19.3 Months

Market activity was up with 102 sales, inventory supplies continue to contract in both on and off water segments moving the market in the right direction.

Sincerely,

Robert J. Reamer

Real Estate Expert Since 1978

Certified General Appraiser

Governor Signs Critical Dunes Legislation

Jon Becker — Tue, 11 Sep 2012 19:15:00 GMT

/8/2012

LANSING, Mich. - On August 7, 2012, Governor Rick Snyder signed legislation clarifying the criteria for landowners building homes in privately held areas of Michigan’s lakeshore dunes.

Senate Bill 1130, sponsored by Sen. Arlan Meekhof, resolves deficiencies in current law that put Michigan at risk in lawsuits. The governor worked with the bill sponsor to ensure Michigan’s dunes are protected for the benefit of present and future generations.

The measure broadens the rights of property owners to allow construction of driveways to access their homes, and allows permitting of structures on the lakeward face of a dune in very limited circumstances. Language was included to ensure that those impacted by a proposed use can request a public hearing.

Two-thirds of Michigan’s critical dunes are in public ownership, which limits the potential impact of the bill to only a small percentage of Michigan’s 275,000 acres of dunes.

“Michigan’s sand dunes are environmental treasures that must be protected,” Snyder said. “At the same time, the state must recognize private property rights and our responsibility to correct laws that put us at risk for potentially dozens of multimillion dollar lawsuits. This legislation represents a difficult compromise for everyone impacted by this issue, and I commend the efforts of everyone involved who worked to find a fair solution.”

The bill is now Public Act 297 of 2012.

Real Estate Prices Are Going Back Up

Jon Becker — Fri, 17 Aug 2012 14:23:00 GMT

Illustration by Ian Michael Rousey

By Jed Kolko Jul 8, 2012 6:30 PM ET

House prices, after falling for more than five years, are rising again. All the major sales-priceindexes show that there have been modest national increases in recent months, even after adjusting for seasonal patterns.

When foreclosures and distressed sales are excluded from the data, prices are up even more. And we should expect further gains: The asking-price index, a leading indicator of sales prices, published by Trulia Inc. (where I work), climbed at an annualized rate of 3.3 percent in the second quarter of this year, adjusted for mix and seasonality, and rose in 84 of the 100 largest U.S. metropolitan areas.

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Of course, if the U.S. economy falters, due to a deepening of the economic crisis in Europe or a wave of foreclosures, prices may reverse. For now, though, the increases are widespread. For the real-estate market and housing policy, this is cause for relief, but also for some concern.

One immediate effect of the price turnaround is that inventory tightens. In the past year, beginning even before prices rose, the inventory of listed homes shrank 20 percent, due to fewer foreclosures for sale and little new construction. Smaller inventory contributes to price increases; when there are fewer homes available, sellers can ask more. In some local markets, bidding wars have returned. Now, rising prices could even accelerate the decrease in inventory in the short term, as buyers act quickly in hopes of paying as little as possible, and sellers hold off listing their homes in anticipation of further price increases. In fact, 61 percent of people do expect prices in their local market to rise in the next year, according to a recent Trulia survey.

Sales Effect

In the longer term, if rising prices last, inventory will grow. Higher prices will encourage more owners to sell, including some who have been “underwater” on their mortgages, as well as banks holding portfolios of foreclosed homes.

Rising prices will also cue housing developers to accelerate construction. After overbuilding during the real-estate bubble, the construction industry has been very slow to recover. New-home starts are still less than half of normal levels, and construction jobs now account for a smaller share of economy-wide employment -- 4.1 percent -- than at any time since 1946. If rising prices nudge construction closer to normal, the housing market might finally contribute to, rather than hold back, the general economic recovery.

Rising prices should also take some pressure off policy makers to “fix” the housing market, and make some mortgage-modification programs more feasible. In particular, shared-appreciation loan modifications -- in which a lender or government agency reduces the amount of principal a borrower owes in exchange for a share of any future price appreciation --become possible when there is a reasonable chance that prices will go up. Crucially, underwater borrowers -- those owing more on their mortgages than the property is worth -- who expect prices to rise have less incentive to default on their loans and abandon their homes.

Yet along with rising prices come two serious concerns.

First, higher prices make homes harder to afford again. When prices plummeted post-bubble, concerns about affordability faded. Even now rents are gaining faster than home prices, according to the Trulia Rent Monitor, which makes owning a better bargain than renting. Still, rising prices make it harder for renters to buy. And, in markets such as coastal Californiaand New York City, where new construction is limited by geography and regulations, high prices put homeownership out of reach for many residents.

Building Rules

While San Francisco is too beautiful and Manhattan too productive ever to become cheap places to live, local policy makers could make homes in expensive cities easier to afford by loosening restrictions on new construction. They could allow higher densities, as California is attempting to do near transit stations. In Washington, they could relax the height limit. And everywhere they could simplify and clarify the rules for approving projects. More construction in cities would mean less of it pushed out to sprawling exurban areas, where overbuilding during the bubble led to some of the nation’s most widespread foreclosures.

The second reason for concern over rising prices is that they fuel optimism. Some optimism is desirable, but unchecked optimism creates bubbles. In a recent Trulia survey, 58 percent of people said they expect prices in their local market to return to their previous peak in the next 10 years. In Pittsburgh, Houston and other markets where prices slipped only slightly during the recession, it’s plausible that they will again reach their previous peak. But even in the hardest-hit markets, such as Las Vegas and Sacramento, where prices rose to unsustainable levels and then fell by half or more, 56 percent of people still expect them to rise to their previous peak in the next 10 years. Such optimism can lead to a bubble if people pay more for homes that they expect to appreciate.

To ensure that rising prices and renewed optimism don’t inflate a new bubble, we must not encourage homeownership and housing construction beyond what our income and demographics can support.

Although full recovery in housing is still years off, rising prices will start reshaping the market right away -- for better and for worse.

(Jed Kolko is the chief economist at Trulia Inc., the online real-estate marketplace. The opinions expressed are his own.)

Read more opinion online from Bloomberg View. Subscribe to receive a daily e-mail highlighting new View editorials, columns and op-ed articles.

Today’s highlights: the editors on whether it’s a penalty or a tax and the latest jobs report; William D. Cohan on Finra’scaptive arbitration system; Susan P. Crawford on whether Google is a monopoly; Albert R. Hunt on gaming the Electoral College;Simon Johnson on banks’ living wills; Pankaj Mishra on the false promise of Asian values.

To contact the writer of this article: Jed Kolko at jed@trulia.com

To contact the editor responsible for this article: Mary Duenwald at mduenwald@bloomberg.net

Traverse City area Home Sales Surge in May

Jon Becker — Mon, 25 Jun 2012 17:43:00 GMT

June 23, 2012

Sales surge continues in May

236 homes were sold in the five-county area last month

By Bill O'Brienbobrien@record-eagle.com The Record EagleSun Jun 24, 2012, 10:06 AM EDT

TRAVERSE CITY — Housing sales continued a spring-time surge in May across the 5-county region.

Existing home sales totaled 236 last month in Grand Traverse, Leelanau, Benzie, Antrim and Kalkaska counties, according to data from the Traverse Area Association of Realtors. That's a 14.5 percent increase from April, and is up 41 percent from May sales in 2011.

Year-to-date sales through May totaled 866 homes, the highest in at least seven years.

Local sales trends bettered national sales figures released Thursday by the National Association of Realtors. Total existing-home in the U.S. declined 1.5 percent to a seasonally adjusted annual rate of 4.55 million in May from 4.62 million in April, but are 9.6 percent above the 4.15 million-unit pace in May 2011.

"I think (the housing market's) done real well," said Kathy Neveu, an agent at the Real Estate One office in Beulah. "The big push that's helping us right now is the low interest rates."

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage declined to a record low 3.80 percent in May from 3.91 percent in April; the rate was 4.64 percent in May 2011.

The median home sale price for May totaled $145,750 in the Grand Traverse region. That's about level with April figures, but is up 6 percent from May 2011. Across the Midwest, existing-home sales rose 1 percent in May to a pace of 1.04 million and are 19.5 percent above a year ago. The median price in the Midwest was $147,700, up 6.4 percent from May 2011.

Neveu said her office is seeing strong interest for homes in the $150,000 to $200,000 price range, with a steady secondary market from $250,000 to $400,000. Homes with larger lots and available acreage are a hot commodity in and around Benzie County right now, she said.

(Buyers) want a little more privacy, a little more acreage. We're actually seeing a shortage of that right now," Neveu said. "I've been having a hard time finding product for some of my buyers."

Lawrence Yun, NAR chief economist, said inventory shortages in some parts of the country have been building all year.

"The slight pullback in monthly home sales is more likely due to supply constraints rather than softening demand. The normal seasonal upturn in inventory did not occur this spring," he said. "Even with the monthly decline, home sales have moved markedly higher with 11 consecutive months of gains over the same month a year earlier."

There are broad-based shortages of inventory in the lower price ranges in much of the country except the Northeast, and in the West supply is extremely tight in all price ranges except for the upper end.

Distressed homes - foreclosures and short sales sold at deep discounts - accounted for 25 percent of May sales in the U.S. Fifteen percent were foreclosures and 10 percent were short sales. That's down from 28 percent in April and 31 percent in May 2011.

First-time buyers accounted for 34 percent of purchasers in May, compared with 35 percent in April and 36 percent in May 2011.

Wire services contributed to this report.

Time to snag a lakefront bargain home in Up North Michigan

Jon Becker — Sun, 03 Jun 2012 15:50:00 GMT

TRAVERSE CITY -- Home sales and prices are on the rise in parts of northwestern Michigan as baby boomers scoop up second homes and cottages sometimes years before they plan to retire to get today's discounted prices on lakefront property.

Realtors in the area say they've seen heightened activity this year as more buyers are finding the low prices, low interest rates and the scenic area on Lake Michigan too good to pass up.

• PHOTOS: Lakefront bargain home values

• VIDEOS: Real estate agents on real estate bargains

"What we have is a market in the final stages of coming to reality," said Jack Lane, associate broker for Real Estate One in Traverse City. "There are bargains in every price range, and buyers understand that the bargain bin is almost empty."

After a gradual rise from the housing slump starting in 2010, sales are up 12% in the Traverse City area, for example, for the first four months of the year, and the average sales price is up nearly 22%, to $174,268, according to data from the Michigan Association of Realtors.

Sales of second homes nationwide rose last year to the highest level since 2005, according to the National Association of Realtors. The median vacation home price was $121,300, down 19% from $150,000 in 2010. The typical vacation home buyer was 50 years old.

The Free Press took a tour of some Up North areas to see how the cottage market was faring. Even with sales and prices heading up, there were still some good deals. For example, a seven-bedroom home in East Jordan on Lake Charlevoix listed for $469,000 sold in March for $390,000, a four-bedroom home in Petoskey listed for $325,000 sold for $210,000 in May, and a three-bedroom cottage on the Manistee River in Grayling sold for $160,000 in August and was originally listed for $199,900.

Get in for $200,000

So how much cottage in Michigan can you buy for under $200,000?

That all depends on the location, said Chad Brown, broker/owner of Home Waters Recreational Real Estate. He said lakefront sales in the first quarter were $35 million, nearly double last year.

Still, around-$200,000 buyers could find a nice lakefront cottage on Spider and Arbutus lakes. Also, no-wake lakes and smaller nice lakes properties can be had for less than $200,000, he said. The larger all-sports lakes such as Torch, Elk and Long are still pricier.

"If you could find a small cottage on Torch Lake for $450,000, you would be lucky. Glen Lake or north Lake Leelanau are typically the most expensive, as are Bay Harbor and Charlevoix," Brown said. "The cottages that need a lot of work or are well-maintained, but kind of ugly, those are the best buys."

Brad Rellinger, associate broker for Harbor Sotheby's International Realty in Bay Harbor, said prices are holding steady on tony Walloon Lake, which largely escaped the foreclosure and short-sale epidemic.

The popular lake might have 17 properties for sale in a normal market, but now there are 53 for sale, he said.

"We are seeing a turn in the market and things are starting to sell," Rellinger said. "The prices aren't going to go up a lot until we thin out the product."

The buzz Up North

In the Traverse City area, Lane, who also hosts a local real estate radio show, said it has been the best spring on record for the area that has been gaining national attention for its numerous attractions including freshwater lakes, cherry orchards, wineries, restaurants, festivals, water sports, winter sports, golfing and charming shopping districts.

"This is part move-up market and part high-end retirees coming to the area thanks to all the national press about how cool the area is," he said.

The Pure Michigan ad campaign, Traverse City ranking on National Geographic's list of 10 Best Summer Trips 2012 and "Good Morning America" viewers voting Sleeping Bear Dunes the most beautiful place in America last summer have all spurred home buyer interest.

The average sales price in the Traverse City area hit $182,582 in 2011, still off 15.7% from the 2005 peak of $216,663, according to Michigan Association of Realtors data.

And in the area of Antrim, Charlevoix and Kalkaska, the average sales price of $160,134 is down 40.5% from the 2003 peak of $269,347, but down just 10% from 2010 prices.

In Emmet County, the average home sold for $278,755 last year, up 24% from 2010.

Maureen Penfold, a Realtor with Re/Max Bayshore Properties in Traverse City said that $350,000 would buy a nice summer home on Duck or Green lakes where the minimum price used to be in the $450,000 range.

"On every lake, the prices are down. I just sold a cottage on Lake Leelanau for under $300,000 with 80 feet of frontage," she said. "There are still bargains and there should be for the rest of this season."

Boomers return

Mary Roesner, who grew up in Grand Blanc and spent her summers on Torch Lake, had moved to Texas nine years ago. She met her husband, Timothy Sciba, in Houston and they married two years ago on Torch Lake. She wondered if Sciba, who grew up in Houston and spent 20 years in Denver, would want to live in northern Michigan.

So Roesner let the area sell itself. She took him on the M-22 drive along Lake Michigan. "He just looked at me and said, 'You spoiled brat. You were so lucky to grow up here.' He just fell in love with it."

Roesner's family is in the area and her father lives 11 driveways down from her on the West Arm of the Grand Traverse Bay in Traverse City. She's planning to use the home for summers now with the idea of moving up from Houston in five years after they retire.

The home the couple purchased in April had been on the market for $695,000 when they first looked at it last year. Out of their price range then, they were able to buy it for $525,000 this spring.

The three-bedroom home has an Alden B. Dow style and has multi-layered decks with views of the water. It features 2,429 square feet, has a natural fireplace, hardwood floors, lower level walkout and a guest house with a bedroom, bathroom and sitting room overlooking the bay.

"We are living in our dream lakefront house, absolutely," she said.

Her Realtor, Dee Dee Burch, with Real Estate One in Traverse City, said some properties that have been on the market for two to three years are moving fast now.

"Sellers have gotten more realistic," she said. "There is a lot more demand now that careers have stabilized and a lot more people are moving in from out of state and plan to retire up here."

Barb and Dave Gluszewski left Michigan nine years ago and planned to retire down South. They lived in a golf community in South Carolina to get away from the Michigan winters. Barb, 62, was in automotive sales, and Dave, 69, had retired as a purchasing director for General Motors.

"It seemed like a good idea at the time," Barb said. "But this is home and where our family is."

The couple decided instead to retire closer to their four children. Three live in Michigan and one lives in Indiana. They also have six grandchildren.

"We were finding it was difficult for them to come down," Dave said. "We weren't getting to see them half as much as we wanted."

So they purchased a three-bedroom, 2 1/2 bathroom home in Suttons Bay with 1,906 square feet and an unfinished lower level of the same size. The house sits up on a bluff overlooking the Grand Traverse Bay and features hardwood floors, granite countertops, a large stone fireplace and a large deck with bay views. It was listed for $425,000; they paid $415,000.

Besides more frequent visits from their children, the Gluszewskis chose the area because there's so much to do. Their home is close to town, the wineries, Sleeping Bear Dunes, Interlochen and all the festivals.

"There is something to do all the time, and it is not a town where everyone leaves in the winter," Barb said.

Shawn Schmidt Smith, associate broker with Coldwell Banker Schmidt in Traverse City, said it's a familiar theme -- people who grew up in Michigan and moved away who now want to come back to retire.

She's working with a Target executive who wants vacant lakefront land with plans to hold it for 20 years. And some clients from St. Louis who aren't ready to retire yet but purchased a home in the area and plan to rent it out until then.

"People are starting to realize we are bottomed out and if they want something that is a limited commodity, they'd better start looking at it," Smith said.

Contact Greta Guest: 313-223-4192 or gguest@freepress.com

All Grand Traverse Area Real Estate Listings at www.c21jb.com

Traverse City area home sales on the rebound

Jon Becker — Thu, 24 May 2012 02:55:00 GMT

Local home sales on the rebound

By Bill O'Brien-Traverse City Record-Eagle

Posted: 05/23/2012 7:14 AM

Existing home sales continued to surge in the 5-county area, and sale prices also are starting to rebound.
April home sales totaled 206 across Grand Traverse, Leelanau, Benzie, Antrim and Kalkaska counties, according to data from the Traverse Area Association of Realtors. That's a 14 percent increase from March totals and up 31 percent from April 2011.
The value of those transactions totaled more than $38.3 million, with nearly $21 million of that from Grand Traverse County. Leelanau totaled just over $5.2 million, while Benzie and Antrim were near $4.5 million in total sales.
The local numbers mirrored national sales trends in April, when the National Association of Realtors reported Tuesday that April sales rose 3.4 percent from March and increased 10 percent from a year ago.
"There's an awful lot of activity in the field right now," said Kim Pontius, TAAR's executive vice president.
The median sale price last month in the Grand Traverse area totaled $144,500. That's a 4.5 percent increase from March and up 22.4 percent from April 2011. That's the highest median sale price for April since 2008, but still below the high-water mark of nearly $167,000 in 2006.
Nationally, the median existing-home price for all housing types jumped 10.1 percent to $177,400 in April from a year ago. The median price in the Midwest was $141,400, up 7.4 percent from a year ago.
Local year-to-date sales through April totaled 651 homes, the highest total in at least six years. The median sale price so far this year is $135,000, a nearly 11 percent increase from 2011 and the highest total since 2008.
Local demand is strong in the mid-range price levels under $200,000, reflecting interest from first-time home buyers or baby-boomers downsizing into smaller homes, Pontius said.
The market for higher-end homes and waterfront properties lags behind the more-affordable options, said agent Jim Noller of the Real Estate One office in Traverse City.
"I think it takes longer for that upper range to catch up right now," Noller said.
Pontius and Noller said housing sales in Traverse City also are improving.
"The market is changing, there's more interest in urban living," Pontius said.
Lawrence Yun, the NAR chief economist, said the national sales data suggests a housing recovery is underway.
"It is no longer just the investors who are taking advantage of high affordability conditions. A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices," he said.
Distressed homes — foreclosures and short sales sold at deep discounts — accounted for 28 percent of April national sales, including 17 percent through foreclosures and 11 percent through short sales. That's down from 29 percent in March and 37 percent in April 2011.
Nationally, first-time buyers rose to 35 percent of purchasers in April from 33 percent in March; they were 36 percent in April 2011.
Wire services contributed to this report

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Grand Traverse Home Sales up in March

Jon Becker — Fri, 20 Apr 2012 14:57:00 GMT

April 20, 2012

Grand Traverse home sales up in March

TAAR reports highest March figures in at least six years

By Bill O'Brienbobrien@record-eagle.com The Record EagleFri Apr 20, 2012, 07:18 AM EDT

TRAVERSE CITY — Mother Nature helped boost home sales in the Grand Traverse region.

She didn't close any deals, but March's unseasonably warm weather bolstered existing home sales in the five-county region by almost 28 percent compared to February. The 180 homes sold in Grand Traverse, Leelanau, Benzie, Antrim and Kalkaska counties represented the best March numbers in at least six years, and bettered last year's total by more than 10 percent.

"Anecdotally, the agents out there said the weather did make a difference," said Kim Pontius, executive vice president of the Traverse Area Association of Realtors. "The really nice weather got people out and moving around."

Local sales outpaced the national trend where existing home sales were down in March but continue to outpace year-ago levels, according to data from the National Association of Realtors. Total existing-home sales declined 2.6 percent to a seasonally adjusted annual rate of 4.48 million in March from an upwardly revised 4.60 million in February. But, they are 5.2 percent above the 4.26 million-unit pace in March 2011.

Pontius said TAAR members also report steady activity in April and expects another strong month when sales totals are compiled. First-quarter sales totaled 448 homes in the region, 14 percent above last year's first quarter.

"I'm hearing from some of my members that they're as busy as they've ever been," he said.

Home sale prices, however, continued to lag as foreclosures and other short sales eat away at housing prices. There was some improvement in March. The median sales price of $138,250 represented a 17 percent increase from February's median sale price.

The national median existing-home price for all housing types was $163,800 in March, up 2.5 percent from March 2011. Distressed homes — foreclosures and short sales sold at deep discounts — accounted for 29 percent of March sales, compared with 34 percent in February and 40 percent in March 2011.

Regionally, existing-home sales in the Midwest were unchanged in March at a pace of 1.02 million but are 15.9 percent above March 2011. The median price in the Midwest was $132,800, up 5.2 percent from a year ago.

"The recovery is happening though not at a breakout pace, but we have seen nine consecutive months of year-over-year sales increases," said Lawrence Yun, the NAR's chief economist. "Existing-home sales are moving up and down in a fairly narrow range that is well above the level of activity during the first half of last year."

Nationally, investors purchased 21 percent of homes in March, down from 23 percent in February and 22 percent in March 2011. First-time buyers accounted for 33 percent of transactions in March; they were 32 percent in February and 33 percent in March 2011.

Wire services contributed to this report.

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Grand Traverse Regional Homes Sales Jump in February

Jon Becker — Thu, 22 Mar 2012 18:56:00 GMT

March 22, 2012

Regional home sales jump in February

141 existing homes were sold last month in five-county area

By Bill O'Brienbobrien@record-eagle.com The Record EagleThu Mar 22, 2012, 07:14 AM EDT

TRAVERSE CITY — Local home sales continued a fast start in 2012, and jumped more than 16 percent in February.

Sales figures from the Traverse Area Association of Realtors showed 141 existing homes sold in the 5-county area last month. That's up from 121 homes sold in January, and represents a 9.3 percent increase from February 2011.

TAAR executive vice president Kim Pontius said several factors appear to be at work in the local market and range from cheaper home prices to low interest rates to an unseasonably mild winter that kept home buyers and sellers active.

"I can't help but think (weather makes) a difference," Pontius said.

Home sales totaled just under $24 million for February, and about half of the homes, 70, were sold in Grand Traverse County. The median sales price of $118,000 is down more than 5 percent from January and off 3 percent from February 2011.

Home lenders also saw increased activity. Ann Bollinger, executive vice president and chief financial officer for Traverse City State Bank, said the bank's mortgage applications are on the upswing.

"We're seeing a huge bump," Bollinger said. "In the last month, it's noticeably higher."

The bank has witnessed an increase in applicants for pre-qualified mortgages, she said, which means they're looking to buy in the near future. Bollinger said the bank has had a blend of applicants ranging from young, first-time home buyers to families looking to "move up" to larger homes, and buyers looking for vacation properties.

"It's a real good mix," she said.

Nationally, existing home sales declined in February from an upwardly revised January pace but are well above a year ago, while the median price posted a slight gain, according to the National Association of Realtors. Total existing-home sales slipped 0.9 percent to a seasonally adjusted annual rate of 4.59 million in February from an upwardly revised 4.63 million in January, but are 8.8 percent higher than the 4.22 million-unit level in February 2011.

Lawrence Yun, NAR chief economist, said underlying factors are much better compared to a year ago.

"The market is trending up unevenly, with record high consumer buying power and sustained job gains giving buyers the confidence they need to get into the market," he said.

Pontius said the northwest Michigan housing market continues to draw interest from outside areas, including southeast and southwest Michigan and other places around the Midwest and beyond. He contends the region's marketing efforts, including the Pure Michigan campaign through the Traverse City Convention & Visitors Bureau, are boosting interest.

"I really believe what the CVB is doing will do a lot for our real estate markets," he said. "I'm very hopeful we're reaching into markets we haven't reached before."

Regionally, existing-home sales in the Midwest rose 1 percent in February to a pace of 1.02 million and are 13.3 percent higher than February 2011. The median price in the Midwest was $120,500, which is 0.5 percent below a year ago.

Wire services contributed to this report.