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  • Governor Signs Critical Dunes Legislation

    /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 ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on September 11, 2012
  • Lawmakers Introduce Major Improvements to Critical Dunes Act

    5/21/2012 Senate Majority Floor Leader Arlan Meekhof (R-Olive Township) and Representative Jon Bumstead (R-Newaygo) have introduced legislation, Senate Bill 1130 and House Bill 5647 respectively, aimed at applying a less subjective approach to critical dune regulation. REALTORS®, builders, and property owners living and working within the ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on September 11, 2012
  • Real Estate Prices Are Going Back Up

    Illustration by Ian Michael Rousey By Jed Kolko Jul 8, 2012 6:30 PM ETHouse 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 ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on August 17, 2012
  • 'Not Every Distressed Property Is a Bargain'

    Daily Real Estate News | Tuesday, August 07, 2012 -->Foreclosures can offer some home buyers big bargains, with the typical discount on a foreclosure about 19 percent, according to National Association of REALTORS® data from May. But buyers should be careful not to be guided by price alone, housing experts warn. “Distressed properties ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on August 8, 2012
  • Mortgage Closing Costs on the Decline

    Daily Real Estate News | Tuesday, August 07, 2012 -->Closing costs have dropped by 7 percent over the last year, according to an annual survey on closing costs conducted by Bankrate.com. Closing costs average $3,754 nationwide. Title insurance and other third-party fees also saw a drop in the last year, falling 12 percent, and origination fees ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on August 8, 2012
  • Traverse City area Home Sales Surge in May

    June 23, 2012 Sales surge continues in May236 homes were sold in the five-county area last monthBy Bill O'Brienbobrien@record-eagle.comThe Record EagleSun Jun 24, 2012, 10:06 AM EDTTRAVERSE 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, ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on June 25, 2012
  • Shadow Inventory Drops to 2008 Lows

    Daily Real Estate News | Monday, June 18, 2012 -->Shadow inventory dropped nearly 15 percent year-over-year in April and is at about a four-month supply—reaching its lowest level in nearly three years, real estate data provider CoreLogic reports. Shadow inventory, as defined by CoreLogic, refers to properties that are seriously delinquent ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on June 18, 2012
  • Time to snag a lakefront bargain home in Up North Michigan

    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 ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on June 3, 2012
  • Traverse City area home sales on the rebound

    Local home sales on the reboundBy Bill O'Brien-Traverse City Record-EaglePosted: 05/23/2012 7:14 AMExisting 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 ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on May 23, 2012
  • New Michigan Principal Residence Exemption Law Passed

    Yesterday, Governor Snyder signed into law the revised Principal Residence Exemption statute. The revised statute changes the filing deadline for the Principal Residence Exemption Affidavit from May 1 to June 1 and adds a new second filing date of November 1. The law will also allow lenders who foreclose on property to retain the principal ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on May 2, 2012