Traverse City, MI Real Estate News

By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Report We are seeing things still holding strong and steady in our area. Values are up over this time last year and activity is holding at the same pace for off water homes.   Thinking of Buying or Selling? Call us today 231-944-9906 and let us help you take the stress out of your next real estate transaction.   Be sure to ask about our Hero Reward Program We also have a program designed for the DYI home sellers that will get you maximum internet exposure with minimal cost.     Weekly Market Statistics          07/28/2014 thru 08/03/2014 192 New Listings 106 Closed Sales 289 Pending    Sales By Classification 86  Residential $19,500 to $1,445,000  Median $153,000 Mean $195,277 18  Vacant Land $4,500 to $2,000,000 Median $39,000 Mean $189,808 2    Commerc...
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By Jon Becker, Associate Broker
(Century 21 Northland)
By Beth Milligan   2,100 volunteers. $2.3 million in revenue. An estimated 500,000 visitors in one weekend. The numbers from this year's National Cherry Festival (NCF) were record-breaking – reflecting the success of an event that, in its 88th year, continues to defy expectations. But with that outsized performance come increasing standards. Here's how key stakeholders are grading this year's event.Residents Fifty-five users took advantage of the city's new online event feedback form to share concerns with city leaders on this year's NCF. Chief among their complaints: that the event generated “too much trash,” drew “too much of a crowd,” was “too long,” and had “too little police and/or security enforcement” on-site. Trash was a particularly sensitive issue for residents this year, as ...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Report   We are starting to see off water homes sit on the market a bit longer in some segments. Currently, we have a 4 month supply of homes What does this mean to you as a seller  -  it means that you home could  take 4 months to sell. Good news - prices are up as well over this time last year   We have an over abundance of direct water homes with a 15 month inventory Selling your waterfront home could take over a year, depending on location - condition & price   Thinking of buying or selling a home? Call us today to schedule a FREE consultation and Pin-Point Market Analysis of your home 231-944-9906   Be sure to ask about our Hero Reward Program www.CherryWingsRealtyTC.com     Weekly Market Statistics          07/21/2014 thru 07/27/2014 249 New Listin...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Report Summer tends to be one of our more busy times here in Traverse City Both for tourism and real estate Our real estate market is hopping !! We have lots of great inventory for our buyers to choose from, interest rates are still great and values are increased over this time last year. If you are looking to buy or sell a home, call today and speak to one of our Realtors to schedule an appointment to discuss your next move. Be sure to ask about our Hero Reward Program and our DYI listing program       Weekly Market Statistics          07/14/2014 thru 07/20/2014 235 New Listings 91  Closed Sales 294 Pending    Sales By Classification 67  Residential $14,000 to $1,200,000  Median $185,000 Mean $235,812 20  Vacant Land $5,700 to $179,900 Median $26,500 Me...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
ATTENTION POTENTIAL SELLERS LET'S GET YOUR HOME ON THE MARKET We are expected to have a record last half of summer and fall for home sales. The time is NOW to get your home listed with Cherry Wings Realty   CALL TODAY  231-944-9906 and speak with one of our Listing Specialists   Be sure to ask about our Hero Rewards Program and Our DYI Listing Options       Weekly Market Statistics          07/07/2014 thru 07/13/2014 175 New Listings 74  Closed Sales 300 Pending    Sales By Classification 59  Residential $1,000 (lease) to $895,000  Median $190,000 Mean $240,853 14  Vacant Land $14,500 to $820,000 Median $45,900 Mean $122,800 1    Commercial $165,000    Sales by Location 14 Antrim County 09 Benzie County 35 Grand Traverse County 02 Kalkaska County 11 Leelanau County 03 Wexford County   E...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Travers City Real Estate Market Report We saw record sales close this past week and our market is still strong and steady. Typically, we see slowing in July while buyers and sellers enjoy their summer Prices are still up and inventory levels are starting to catch up with demand   Looking to Sell your home? CALL TODAY  231-944-9906 and let one of our listing specialists assist you in pricing, staging, marketing and SELLING your home.   Be sure to ask about our Hero Reward Program and our Flat Fee Seller Assist Program for those do it yourself sellers out there       Weekly Market Statistics          06/30/2014 thru 07/06/2014 221 New Listings 100 Closed Sales 300 Pending    Sales By Classification 79  Residential $37,100 to $1,050,000  Median $161,000 Mean $225,746 13  Vacant Land $2,800...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
GOOD NEWS HOME BUYERS Inventory levels are starting to rise a bit with more choices in some market segments We are closer to a healthy level of inventory than we have seen in several months.   If you are thinking of building new, be optimistically cautious, as there have been recent appraisal issues with homes in the higher end of the spectrum. Buying or Selling?? Call today  231-944-9906 and speak to one of our listing or buyer specialists to assist you with your home sale or purchase.   Be sure to ask about our no hassle, flat fee listing option & our Hero Reward Program* *programs cannot be used in conjunction with each other     Weekly Market Statistics          06/16/2014 thru 06/22/2014 243 New Listings 85   Closed Sales 282 Pending    Sales By Classification 63  Residential $11,0...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Report   Temperatures and our market are both heating up.  Inventory levels are starting to rise a bit and buyers are not seeing a few more choices out there in some market segments.   It is still a great time to sell you home Call today and ask about our lising specials 231-944-9906       Weekly Market Statistics          06/09/2014 thru 06/15/2014 289 New Listings 79   Closed Sales 283 Pending    Sales By Classification 60  Residential $27,000 to $890,000  Median $155,950 Mean $226,017 16  Vacant Land $4,800 to $675,000 Median $50,000 Mean $95,768 3    Commercial $29,900 to $190,000    Sales by Location 09 Antrim County 07 Benzie County 40 Grand Traverse County 07 Kalkaska County 14 Leelanau County 02 Wexford County   Expired Listings   58   Year over ...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Report   At Cherry Wings Realty, we are still seeing record activity for listings, pending sales and closings Each market is different and the report below is a general report for our five county region, which shows the market holding its own with slightly fewer sales than last week. With prices holding steady and inventory levels still low in many markets, it is a great time to get your home listed.  Call us today 231-944-9906 and we can assist you with getting your home ready to be SOLD. Be sure to ask about our Hero Reward Program   Weekly Market Statistics          06/02/2014 thru 06/08/2014 26 New Listings 98   Closed Sales 271 Pending    Sales By Classification 66  Residential $40,000 to $655,000  Median $162,930 Mean $202,519 25  Vacant Land $2,60...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Report We are seeing inventory levels slowly inch up to more healthy levels but are still low in some segments of our market.  We are seeing more and more cash buyers in the market.  What does this mean to you as a buyer?  It means that you need to make your initial offer on a home a strong one, as you may be competing with other offers and not get a second bite at the apple. Be sure to ask you Realtor what their negotiation strategy is before putting in your offer.  You need to have a plan that can be quickly executed should you receive a counter offer. Sellers  ~  have you home in show ready condition, priced well and marketed with a solid, multi pronged approach and you will see quick results. Buying or Selling??? Call TODAY  231-944-9906 to speak wit...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Real Estate Report For Traverse City, MI Things are heating up nicely here in Traverse City, Mi. Both our temperatures and our real estate market are hot hot hot !!! Thinking of selling???  ~  Now is the perfect time Call our office today 231-944-9906 and speak with one of our listing specialitst Be sure to ask about our Hero Reward Program     Weekly Market Statistics          05/19/2014 thru 05/25/2014 301 New Listings 74   Closed Sales 288 Pending    Sales By Classification 55  Residential $25,000 to $605,000  Median $174,500 Mean $204,943 15  Vacant Land $5,000 to $225,000 Median $25,000 Mean $37,500 4    Commercial $1,200 Lease to $164,700    Sales by Location 04 Antrim County 10 Benzie County 38 Grand Traverse County 08 Kalkaska County 12 Leelanau County 02 Wexford County   Expire...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Trends Our real estate market is still going strong at Cherry Wings Realty. Values are up over 11% from this time last year and we are seeing multiple offers on some properties.  It's a great time to sell your home. Buyers Advice  ~  Make sure you are pre-approved for your loan and ready to jump on a home when you find one that fits your needs.  The days of low ball offers is over.  Come to the table with a strong offer - your best offer, if you really want the home. Call TODAY to speak to one of our real estate experts  231-944-9906 Be sure to ask about our Hero Rewards Program     Weekly Market Statistics          05/12/2014 thru 05/18/2014 292 New Listings 62   Closed Sales 292 Pending    Sales By Classification 50  Residential $27,900 to $975,000  Me...
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By Jon Becker, Associate Broker
(Century 21 Northland)
Funding Loss Halts Depot Development May 14, 2014 By Beth Milligan   A surprise decision by the Michigan State Housing Development Authority (MSHDA) to "non renew" a $300,000 grant for the HomeStretch Nonprofit Housing Corporation could put a halt on the organization's development within downtown TC's Depot Neighborhood. HomeStretch and Habitat for Humanity partnered to buy the 2.5-acre vacant lot on the corner of Eighth Street and Woodmere Avenue from the city at the end of 2012 with the goal of constructing 21 energy-efficient, affordable housing units. HomeStretch is constructing five three-story duplexes and a three-story townhouse for a total of 11 units, while Habit for Humanity is building 10 single-family homes. Infrastructure construction began on the development last year and...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Home Market Trending Report We are starting to see our Spring inventory hit the market and are almost back up to a healthy market supply on our off water home supply.  This means more options for buyers who are in the market.  Still a great time to get your home on the market for sale.  If you are planning to list and sell your home this Spring/Summer, call our office today 231-944-9906 to speak with a listing consultant who can assist you in getting your home ready for the market so that we can get it sold in the least amount of time for the most money for you. Be sure to ask about out Hero Rewards Program     Weekly Market Statistics          04/29/2014 thru 05/04/2014 288 New Listings 62   Closed Sales 281 Pending    Sales By Classification 49  Residential $22,000 to $1...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Report Off water home prices and activity remain strong through the entire month Inventory levels are still at al all time critical low Interest rates are holding low  ~  but for how long, no one knows Thinking of Selling?  We have a Spring Listing special Call today 231-944-9906 and one of our Realtors will assist you in getting your home ready to sell   Be sure to ask about our Hero Rewards Program       Weekly Market Statistics          04/21/2014 thru 04/28/2014 214 New Listings 73   Closed Sales 282 Pending    Sales By Classification 59  Residential $19,900 to $835,000  Median $144,500 Mean $186,756 11  Vacant Land $8,000 to $162,500 Median $26,000 Mean $70,981  3   Commercial $33,000 to $395,000    Sales by Location 04 Antrim County 09 Benzie Count...
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By Jon Becker, Associate Broker
(Century 21 Northland)
Sidewalk Cafes, WiFi Headed Downtown? April 25, 2014 By Beth Milligan   Sidewalk cafes, downtown WiFi and bikes and parking are all on the docket for Downtown Development Authority (DDA) board members at their meeting this (Friday) morning. Here's a look at some of the key projects that could be moving forward today:Sidewalk Cafes Should downtown restaurant owners be allowed to use parking spaces to expand their outdoor seating during warm-weather months? A new ordinance allowing restaurants to construct "platform cafes" is under consideration. City Commissioner Jim Carruthers, studying the issue as part of a commission ad hoc committee with Commissioners Barbara Budros and Jeanine Easterday, says the committee is seeking input from downtown businesses and the DDA board (which will dis...
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By Jon Becker, Associate Broker
(Century 21 Northland)
Hope Ahead for TCAPS, Teachers Impasse? April 21, 2014 By Lynn Geiger   Coming up on a year of negotiating, the Board of the Traverse City Area Public Schools and its teachers union have put their disagreements over a new contract in the hands of a third party – as tensions over the lack of progress are rising. While TCAPS Board President Kelly Hall tells The Ticker the board continues to be committed to reaching a contract solution with the district’s teachers, the sentiment voiced by the Traverse City Education Association (TCEA) is starkly different. “Teacher morale is at an all-time low,” says Jeff Leonhardt, TCEA president. He adds that Superintendent Steve Cousins “has never sat down at the bargaining table” and board members “don’t weigh in at all.” He says the TCEA bargains wit...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Update If you are on the fence about a home purchase or selling your home - time to jump in Our market is primed to be one of the best Spring/Summer markets in many years Call us today 231-944-9906 Be sure to ask about our Hero Reward Program     Weekly Market Statistics          04/14/2014 thru 04/20/2014 265 New Listings 69   Closed Sales 284 Pending    Sales By Classification 47  Residential $35,000 to $825,000  Median $180,000 Mean $208,519 13  Vacant Land $6,500 to $190,000 Median $45,500 Mean $73,511  9   Commercial $8 SF (Lease) to $160,000    Sales by Location 05 Antrim County 04 Benzie County 39 Grand Traverse County 08 Kalkaska County 13 Leelanau County 00 Wexford County   Expired Listings   57   Year over Year Comparison for Grand Traverse Cou...
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By Jon Becker, Associate Broker
(Century 21 Northland)
New Development Could Bring Public Restrooms April 15, 2014 By Lynn Geiger   A proposed development on Park Street could bring to downtown Traverse City something it’s never had and desperately needs: public restrooms. Developer Jerry Snowden tells The Ticker he has a plan in the works for an addition to Radio Centre II (125 Park Street). If it moves forward, the building would connect to his Radio Centre building at the corner of E. Front and Park streets and the adjacent Hardy Parking Deck. The building would also include a pedestrian access to the parking deck and restroom facilities. The proposal will go before the Downtown Development Authority (DDA) board on April 25, confirms DDA Executive Director Rob Bacigalupi. Snowden says he has a lease signed for “35 percent of the project...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City, MI  ~  Weekly Real Estate Market Update The report below is a report for our five county area of activity from last week. Although the report in general appears to have a flat market, our brokerage has never been busier. Buyers are out in full force and inventory levels are low. This is a GREAT time to list and sell your home Looking To Sell?  ~  Call today to speak with one of our Listing Specialists  231-944-9906 Be sure to ask about our Hero Reward Program Weekly Market Statistics          04/07/2014 thru 04/13/2014 178 New Listings 56   Closed Sales 269 Pending    Sales By Classification 44  Residential $15,000 to $543,000  Median $158,300 Mean $180,563  7   Vacant Land $10,400 to $260,000 Median $25,000 Mean $56,557  5   Commercial $825 (Lease) to $1,270,000    Sales...
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