Traverse City, MI Real Estate News

By Jon Becker, Associate Broker
(Century 21 Northland)
Century 21 Northland was awarded the #1 office by sales volume at TAAR in the five county region Team-   In case you aren’t aware, the Traverse City office for Century 21 Northland was awarded the #1 office by sales volume at TAAR (Traverse Area Association of Realtors) in the five county region!!! (and to think this company didn’t exist 7 years ago. J)   WELL DONE and well deserved. THANK YOU all for all of your hard work.     Congratulations, the future is very bright.   HAPPY FRIDAY!   Brad Platt Sales Manager/Owner CENTURY 21 Northland CENTURY 21 Sleeping Bear Realty
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Report We are still seeing lower than normal inventory levels in some markets I would strongly encourage you to put your home on the market now if you are at all thinking of selling to upsize, downsize or just looking for something different. Don't wait until Spring when inventory levels go back up. Call today 231-944-9906 to speak to one of our Realtors about selling your home   Be sure to ask about our "Hero Rewards" program Significant savings for Military, Police, Fire and EMS Personnelwho are buying or selling a home         Weekly Market Statistics          01/06/2014 thru 01/12/2014 77  New Listings 76  Closed Sales 231 Pending    Sales By Classification 56  Residential $29,000 to $725,000  Median $173,450 Mean $197,240 17  Vacant Land $18,000 to ...
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By Jon Becker, Associate Broker
(Century 21 Northland)
Fourteen-Screen Multiplex Headed to Outlet Mall January 7, 2014 By Luke Haase   Owners of Traverse City’s outlet mall and Carmike Cinemas confirm to The Ticker that a new, 14-screen multiplex will be proposed to Garfield Township officials later this week, ending months of speculation about what tenant might end up there. The proposed new theatre would be a presumed anchor in the redevelopment of the entire center located on US-31 South. The theatre will be built on the site now housing Old Navy, Dance Arts Academy, and a few other stores. That section and one-third of the “middle” section of the outlet center will be demolished to make way for the new, 60,000 square foot facility. The center as currently configured includes 154,000 total square feet of retail space. The center is owne...
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By Jon Becker, Associate Broker
(Century 21 Northland)
Meet Your New City Website January 6, 2014 By Beth Milligan   Traverse City leaders are unveiling a new official city website at tonight's commission meeting – part of an ongoing effort to better engage residents through user-friendly technology. The overhauled website – which goes live today – is the result of a three-month redesign process by the Land Information Access Association (LIAA). City Manager Jered Ottenwess says commissioners and staff raised questions about revising the city's 5-year-old website when he arrived in office in July, frustrated with the site's disorganized navigation, limited search functionality and stale aesthetic.“Anytime you have a website for that long, it's important to think about whether it's still efficient or if it needs to be freshened up,” Ottenwe...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Update Off water homes are a hot commodity right now.  With activity levels up 3% over this time last year, prices up over 10% and inventory levels at an all time low!!!   The market is poised for selling your home Call today for an analysis of what your home is worth 231-944-9906 Be sure to ask about our Hero Rewards Program Police, Military, Firefighters and EMS personnel receive significant savings       Weekly Market Statistics          12/30/2013 thru 01/05/2014 63  New Listings 77  Closed Sales 242 Pending    Sales By Classification 62  Residential $1,400 Lease to $870,000  Median $211,000 Mean $229,052 12  Vacant Land $5,000 to $210,000 Median $45,000 Mean $58,875  1   Commercial $65,000 to $1,600,000    Sales by Location 10 Antrim County 08 Benzi...
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By Jon Becker, Associate Broker
(Century 21 Northland)
By Beth Milligan   In the aftermath of the failure of two bond proposals for Traverse City Area Public Schools (TCAPS) in November, district officials are now faced with the difficult task of determining where and how in the budget the $48 million shortfall will be reconciled in 2014 – and beyond. TCAPS board member Megan Crandall serves on the district's finance and operations committee and is reviewing scenarios with that group. The most obvious option – submitting another presumably revised bond proposal again next year – is one Crandall says she would have “a hard time justifying” after back-to-back failures.“There would have to be a change in the community, a change in sentiment, for me to be comfortable going forward with another bond proposal,” she says. TCAPS must also put an 1...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
INVENTORY AT A CRITICAL LOW Inventory levels in the Grand Traverse Region are at an all time low, falling below the healthy market range. Winter is a great time to list your home, less competition means more demand for your home. Cherry Wings Realty will assist you with staging, pricing, marketing and selling your home CALL TODAY  231-944-9906 Be sure to ask about our Hero Rewards Program     Weekly Market Statistics          12/23/2013 thru 12/29/2013 33  New Listings 48  Closed Sales 264 Pending    Sales By Classification 41  Residential $27,200 to $1,195,000  Median $190,000 Mean $283,777  6   Vacant Land $11,500 to $350,000 Median $31,500 Mean $94,250  1   Commercial $34,000    Sales by Location 04 Antrim County 07 Benzie County 25 Grand Traverse County 04 Kalkaska County 07 Leelana...
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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 a slowing in our market, which is very normal for this time of year Inventory levels are still at all time lows in some demographic regions   Direct water activity is significantly down from this time last year by 20%.  What this means to sellers with direct water properties is that you could see your listing sit on the market for a bit longer than you anticipated. Looking to buy or sell?  Call us today for a one-on-one consultation Be sure to ask about our Hero Rewards Program     Weekly Market Statistics          12/09/2013 thru 12/15/2013 119 New Listings 66  Closed Sales 271 Pending    Sales By Classification 50  Residential $27,500 to $742,000  Median $165,200 Mean $198,223 11  Vacant Land $5,000 to $330,000 Median $35,000 Mean ...
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By Jon Becker, Associate Broker
(Century 21 Northland)
TCAPS Ponders Schedule Switch December 9, 2013 By Beth Milligan   Five years after switching to a trimester high school schedule to accommodate changing statewide graduation requirements, Traverse City Area Public Schools (TCAPS) officials tonight will consider converting to a four-quarter system in the 2014-2015 school year.“There are a number of data-based reasons the district decided to propose the change,” says Traverse City Central High School Principal Rick Vandermolen, of the recommendation up for discussion at tonight's Board of Education meeting. Staff and administrators at both high schools – along with TCAPS' Curriculum and Finance/Operations committees – have already reviewed and issued support for the measure, which they say will save the district money and provide a more ...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Our Traverse City Real Estate Market Continues To Hold Strong   We are still seeing a strong re-sale market and in m any segments we are critically low on inventory, which makes it a great time to list your home.   Vacant land sales are on the rise as well.  Now is a great time to purchase your property so that you have time to work on plans and break ground in the Spring.   Ready To List Your Home?  ~  Call Today  231-944-9906 We can sell your home and assist you in your search for a new home Be sure to ask about our Heroe Reward Program!!! Our Way To Say Thank You to our local Police, Fire, Military and EMS www.CherryWingsRealty.com       Weekly Market Statistics          12/02/2013 thru 12/08/2013 151 New Listings 94  Closed Sales 291 Pending    Sales By Classification 65  Residentia...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
We are starting to see a bit of slowing in our market, which is normal for this time of year. With a decrease in inventory in some markets, this may be the best time for you to list your home CALL TODAY  231-944-9906 We can list, market and sell your home Be sure to ask about our Hero Rewards Program for Police, Military, Fire and EMS Personnel (active, retired, volunter or reserve)         Weekly Market Statistics          11/25/2013 thru 12/01/2013 62  New Listings 44  Closed Sales 286 Pending    Sales By Classification 34  Residential $1,400 Lease to $845,000  Median $155,000 Mean $233,220  5  Vacant Land $8,000 to $169,700 Median $49,500 Mean $59,022  5   Commercial $235 Lease to $225,000    Sales by Location 09 Antrim County 04 Benzie County 19 Grand Traverse County 02 Kalkaska Cou...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market We are starting to see our normal holiday slow down Pricing is still up in most areas and inventory levels are low Winter is a great time to list your home - inventory levels are low Call our office today for a FREE pinpoint market analysis  231-944-9906 Be sure to ask about our Hero Reward Program Discounts for Police, Military, Fire and EMS       Weekly Market Statistics          11/18/2013 thru 11/24/2013 106 New Listings 57  Closed Sales 284 Pending    Sales By Classification 36  Residential $28,900  to $1,050,000  Median $148,500 Mean $201,033 14  Vacant Land $8,500 to $213,000 Median $63,125 Mean $79,285  4   Commercial $130,000 to $4,800,000    Sales by Location 05 Antrim County 09 Benzie County 27 Grand Traverse County 06 Kalkaska County 08 Leela...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Inventory Levels At An All Time LOW Inventory levels in some market segments are at all time lows with less than 6 months of inventory avialable. Well priced homes in good condition are seeing multiple offers on them NOW is a great time to sell your home - vlaues are up and inventory is down   CALL TODAY  231-944-9906 - We can list your home tomorrow Be sure to ask about our Hero Reward Program - Our way to say thank you for your service to our country and our community - One Home At A Time   <     Weekly Market Statistics          11/11/2013 thru 11/17/2013 113 New Listings 79  Closed Sales 298 Pending    Sales By Classification 52  Residential $1,450 Lease  to $685,000  Median $133,900 Mean $193,354 23  Vacant Land $12,500 to $300,000 Median $39,500 Mean $60,908  4   Commercial $1,040...
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By Jon Becker, Associate Broker
(Century 21 Northland)
November 11, 2013 By Beth Milligan   A Flint-based developer with a controversial project history has purchased the 167,605 square-foot Cherryland Center on South Airport Road in Traverse City – raising questions about the future of the property. V. Kumar Vemulapalli, owner of Durga LLC, purchased the shopping mall in an online auction on September 11. Sources familiar with the auction say the winning bid was “close to or above” $3.1 million. The minimum starting bid was $1.25 million. Vemulapalli, who otherwise declined to comment for this story, tells The Ticker he has hired real estate and marketing consultants to help “develop a plan” for the Cherryland Center, which has been in receivership since 2010 after previous owner Schostak Bros. defaulted on a mortgage to Wells Fargo Bank....
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
We are still seeing prices hold steady for sellers.  Activity is down slightly, which is normal for this time of the year.  Timing is still prime to buy or sell. Are you looking to buy or sell a home? Call Today 231-944-9906 and one of our specialists will assist you Be sure to ask about our "Hero Reward Program"           Weekly Market Statistics          11/04/2013 thru 11/10/2013 117 New Listings 76  Closed Sales 312 Pending    Sales By Classification 59  Residential $31,500  to $1,250,000  Median $180,000 Mean $238,448 13  Vacant Land $16,000 to $145,000 Median $38,000 Mean $55,776  4   Commercial $725 Leases to 232,500    Sales by Location 11 Antrim County 08 Benzie County 38 Grand Traverse County 04 Kalkaska County 15 Leelanau County 00 Wexford County   Expired Listings   42   Yea...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
The Traverse City Real Estate market is continuing to show strong growth. Activitiy levels and prices in our off water homes is up over this time last year by over 8% in some areas We are poised for a steady Fall and optomistically hopeful that we will continue into Winter with strong numbers Thinking of BUYING or SELLING a home? Call today and we can guide you through a seemless transaction  231-944-9906 Be sure to ask about our Hero Rewards Program   Weekly Market Statistics          10/28/2013 thru 11/03/2013 142 New Listings 103 Closed Sales 301 Pending    Sales By Classification 67  Residential $20,000  to $1,148,700  Median $163,000 Mean $192,063 34  Vacant Land $1,500 to $495,000 Median $21,000 Mean $59,982  2   Commercial $1,750 to $1,950 Leases    Sales by Location 14 Antrim Co...
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By Jon Becker, Associate Broker
(Century 21 Northland)
November 1, 2013 By Lynn Geiger   Anyone who has headed out the Old Mission Peninsula recently can’t help but notice the piles of dirt and earth-moving equipment about 3 miles up Center Road. That construction zone is site preparation and roadwork for the new Villa Mari Vineyard & Winery, slated to open fall 2014. The peninsula’s latest winery project is headed up by local entrepreneur Marty Lagina, who submitted the official site plans to Peninsula Township this week. There are currently nine acres of mature grapes growing on the approximately 26-acre parcel where the winery will be built at 8175 Center Road between Black Star Farms and Peninsula Cellars. Lagina plans to plant another 10 acres there, which will join the 50 acres of mature vineyards he has elsewhere around the peninsul...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
We are still seeing a very strong real estate market in Traverse City On-Water home activity is starting to slow, as it does every year If you are wanting to get that On-Water home sold this year, you need to get it on the market now!!   Call today  -  231-944-9906 and let one of our specialists help you   Ask about our Hero Rewards Program !!!       Weekly Market Statistics          10/14/2013 thru 10/20/2013 144 New Listings 58  Closed Sales 320 Pending    Sales By Classification 42  Residential $24,000  to $2,100,000  Median $205,000 Mean $290,845 14  Vacant Land $12,000 to $715,000 Median $51,000 Mean $127,978  2   Commercial $515,000 to $1,100,000    Sales by Location 02 Antrim County 05 Benzie County 32 Grand Traverse County 08 Kalkaska County 10 Leelanau County 01 Wexford County...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market is holding strong in both on and off water homes We should see positive sales through the Fall and into early winter. Thinking of buying or selling? Call our office TODAY  231-944-9906 and one of our specialists will assist you Ask about our Hero Rewards Program       Weekly Market Statistics          09/30/2013 thru 10/06/2013 179 New Listings 116 Sold Listings 325 Pending    Sales By Classification 84  Residential $27,101  to $920,000  Median $157,000 Mean $233,100 25  Vacant Land $7,900 to $900,000 Median $38,500 Mean $90,778  7   Commercial $250 Lease to $1,450,000    Sales by Location 09 Antrim County 14 Benzie County 47 Grand Traverse County 20 Kalkaska County 24 Leelanau County 02 Wexford County   Expired Listings   113   Year over Year Comparison...
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By Cherry Wings Realty, Your Traverse City Michigan Realtor
(Cherry Wings Realty)
Traverse City Real Estate Market Report We are still seeing record activity for this time of year Pending sales are up, which will take our sales sailing into Fall.   If you are looking to buy or sell  ~  CALL TODAY  231-944-9906 and speak with one of our Realtors to discuss Your Next Move Ask about our Hero Rewards Program       Weekly Market Statistics          09/16/2013 thru 09/22/2013 178 New Listings 99  Sold Listings 328 Pending    Sales By Classification 76  Residential $19,5000  to $2,779,000  Median $162,500 Mean $280,114 18  Vacant Land $7,500 to $186,500 Median $52,250 Mean $57,958 5    Commercial $87,500 to $650,000    Sales by Location 16 Antrim County 11 Benzie County 52 Grand Traverse County 04 Kalkaska County 13 Leelanau County 03 Wexford County   Expired Listings   45 ...
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