Located on the southwestern corner of Grand Traverse County and within the city of Interlochen (home to the nationally acclaimed Interlochen Arts Academy), are all-sports Duck and Green Lake. Although these two popular lakes also showed signs of struggle in 2010, they ranked one and two on the four lakes (Long Lake, Silver Lake, Duck Lake Green Lake) that I service.
Green Lake saw the highest percentage of properties sold at 27% (7 of 26), leaving the least amount of inventory on the market (3.7 years) and a median price of $260,000, the second highest. There are currently 11 properties on the market ranging in price from $196,750 to $645,000.
Duck Lake saw 21% of their properties sold (8 of 39), leaving 4.92 years of inventory on the market, with a median price of $242,500. Currently there are 17 direct lakefront properties to select from with prices ranging from $295,000 to 1,025,000.
The 2011 market is unpredictable at best, however, there are some positive signs. Returning properties to the market are at an improved price! I sense that if homeowners continue to price their properties according to the market, we may see a slight upswing in interest, offers and ultimately SOLDS!
If you're interested in buying or selling property on Duck Lake or Green Lake contact susan@homewaters.net.
Click Here to learn more about Duck Lake.
Click Here to learn more about Green Lake.
For all available properties on Duck Lake Click Here.
For all available properties on Green Lake Click Here.
Showing posts with label Susan's Posts. Show all posts
Showing posts with label Susan's Posts. Show all posts
Monday, February 21, 2011
Saturday, February 19, 2011
Lackluster Year for Silver Lake
2010 proved to be a trying year for homeowners on Silver Lake. Of the four area lakes I service, Silver Lake suffered the most woes. With the second highest amount of available properties for sale (52), it had the lowest number of sales (4), leaving a whopping 13 years of inventory on the market!
Having personally listed and sold two of the four listings, one for full price and the other for 96% of list price, I can honestly say that pricing had everything to do with successfully selling these properties. Putting the "perceived value" to bed and awakening the fair market value proved to increase activity, reduce the days on market and most importantly produce a sale, allowing the homeowners to move forward.
Active properties have diminished from 62 to 30 and are available in all shapes, sizes and prices ($74,000 to $1.49 million); proving there's something to fit every budget. With the hint of spring we are starting to see an increase in inventory with some "expired" listings re-entering the market as well as first time offerings. Only time will tell how 2011 will shake out. However, my opinion is that if perceptions and prices remain unchanged, homeowners will find their properties added to the mounting list of inventory and staying put rather than moving on.
For more information on buying or selling property on Silver Lake contact susan@homewaters.net.
To view all properties available on Silver Lake Click Here.
Having personally listed and sold two of the four listings, one for full price and the other for 96% of list price, I can honestly say that pricing had everything to do with successfully selling these properties. Putting the "perceived value" to bed and awakening the fair market value proved to increase activity, reduce the days on market and most importantly produce a sale, allowing the homeowners to move forward.
Active properties have diminished from 62 to 30 and are available in all shapes, sizes and prices ($74,000 to $1.49 million); proving there's something to fit every budget. With the hint of spring we are starting to see an increase in inventory with some "expired" listings re-entering the market as well as first time offerings. Only time will tell how 2011 will shake out. However, my opinion is that if perceptions and prices remain unchanged, homeowners will find their properties added to the mounting list of inventory and staying put rather than moving on.
For more information on buying or selling property on Silver Lake contact susan@homewaters.net.
To view all properties available on Silver Lake Click Here.
Monday, September 27, 2010
Island Life in Traverse City!
Calling all cabana boys and island girls! If you've ever wanted to get away from it all, but yet wanted to be close to everything, now's your chance! Here's a rare opportunity to own your own private island on all-sports Silver Lake. Approximately a 1/2 acre in size, the island is nicely wooded, has 700+' of waterfront and a delightful sandbar perfect for lounging or playing Frisbee. Where else can you get both sunrise AND sunset views for $75,000? It's just a short jaunt from the DNR public boat launch off of E. Silver Lake Rd. For your personal tour contact susan@homewaters.net. Tuesday, July 20, 2010
Traverse City Beaches make National List
Although us locals have known this all along, the word is out. Traverse City has again made the national spotlight by being named one of the top 10 beach towns by AOL.
Don't just take their word for it. Come experience the crystal clear water, miles of sandy lakeshore, a town rich in history, recreation galore, exquisite dining and a fine selection of homemade brew and wine for every palate!
Just a heads up . . . once you get here you'll never want to leave! Should that happen don't worry. The professionals at Homewaters can assist you in selecting just the right place to call home. An Accredited Buyers Representative I would love to assist you in finding a property that suits your lifestyle. Contact me at (231) 342-5127 or email at susan@homewaters.net.
Tuesday, May 11, 2010
All Sports Silver Lake - $239,000!
Live large in a small footprint! Suitable for vacation or year round living, this adorable 3 bedroom, 1 bath home is reminiscent of years past with its knotty pine kitchen cabinets. Two large picture windows, one in the kitchen and the other in the living room, offer natural light and elevated views of the lake. A large brick fireplace (gas) in the living room will take the chill off on those cooler days or nights.
With 100 feet of private Silver Lake frontage there's plenty of room for fun. The beach is sandy with some small pebbles/rocks. The lake bottom is firm with some smaller rocks scattered throughout. Located at the south end of the lake (on somewhat of a cove), there are expansive views of the lake (looking north) from the lakeshore. Spend the day taking in all your favorite activities (boating, tubing, waterskiing, kayaking, fishing) and then kick back lakeside and watch the sunset. You'll pinch yourself wondering if it's real!
This place will have you at hello.
For more information or to arrange your personal showing please contact susan@homewaters.net.
Thursday, April 1, 2010
NEW LIST! Acreage with Pole Barn!
Nature at it's finest! This beautifully wooded 11+acre parcel is located just east of Traverse City in Williamsburg. Located in an area of fine homes and at the end of a private road. The parcel is heavily wooded with mature hardwoods and pines (possibly offering some timber value) and is bordered by state land on two sides (east and south). A 32 x 40 pole barn (with electric) is already in place and awaiting you and your toys! Snowmobiling and hunting can be had right out your back door. Lakes, trails and other recreational opportunities are nearby. Whether yo
u are looking for a place to build your dream home or just a place to escape to on the weekends, this just might be the playground you're looking for. Contact susan@homewaters.net for more information.
Tuesday, March 2, 2010
Don't Miss Out - Tax Credit Expires Soon!
The Extended Home Buyers Tax Credit offers current homeowners and first-time home buyers alike an incredible tax-saving opportunity when they buy a home through April 30, 2010. First time buyers, who haven't owned a primary residence in the past three years, are eligible for a tax credit of 10 percent of a home's purchase price, up to a maximum of $8,000. Current homeowners are also eligible for a tax credit of their own. Homeowners who have lived in their primary residence for 5 consecutive years of the past 8 are eligible for a tax credit of 10% of a home's purchase price, up to maximum of $6,500.
The following conditions apply:
The following conditions apply:
- The tax credit is only awarded on homes purchased for $800,000, or less
- Full tax credit is available to buyers earning up to $125,000 a year, or $225,000 for married couples filing jointly
- Partial tax credit is available to buyers earning between $125,000 to $145,000, or for married couples earning between $225,000 to $245,000.
- Under the rules, as long as a written binding purchase contract is in effect on April 30, 2010, the buyer has until July 1, 2010 to close.
The tax credit is a dollar-for-dollar reduction in the buyers tax liability, and does not have to be paid back as long as the buyer remains in their home for three years or more. This is a once-in-a-lifetime offer to have Uncle Sam help you buy a house. Don't let this opportunity pass you by!
Wednesday, February 17, 2010
Is Now A Good Time To Buy?
Investing, whether in real estate, stocks, bonds etc. is always a gamble. Sometimes we win and sometimes we lose. Unfortunately, there have been more portfolio "losers" as of late, but we got off the sideline and played the game; despite knowing the possible consequences. And interestingly enough, despite being kicked around and bruised, we're still in the game! We've remained hopeful by keeping whatever money remains in the "market".
The media has done a tremendous job of instilling fear among consumers; especially in the real estate market. Traverse City has not been except from foreclosures, however, we have not experienced it to the same degree that has been found in larger metropolitan areas. From a local perspective housing activity seems to be improving. Agents are busy. New listings and "SOLDS" hit the market daily. And as of this morning , there are 183 pending sales. So, "yes", things are moving! Overall, it is my belief that prices on a local level have stabilized.
The home buyer tax credit has worked. 51% of the sales last fall were first time home buyers. And now with the program extended and now including repeat home buyers, activity remains strong. With this program coming to an end (April) and interest rates forecasted to increase, now is an opportune time to buy. Prices and interest rates will not remain this low forever.
However, even if all the stars align to indicate now is a good time to buy, in the end, it's a personal decision. A decision that you have to be comfortable with. And when you decide the time is right, the talented, knowledgable and dedicated agents of Homewaters will be here - ready, willing and able to help.
The media has done a tremendous job of instilling fear among consumers; especially in the real estate market. Traverse City has not been except from foreclosures, however, we have not experienced it to the same degree that has been found in larger metropolitan areas. From a local perspective housing activity seems to be improving. Agents are busy. New listings and "SOLDS" hit the market daily. And as of this morning , there are 183 pending sales. So, "yes", things are moving! Overall, it is my belief that prices on a local level have stabilized.
The home buyer tax credit has worked. 51% of the sales last fall were first time home buyers. And now with the program extended and now including repeat home buyers, activity remains strong. With this program coming to an end (April) and interest rates forecasted to increase, now is an opportune time to buy. Prices and interest rates will not remain this low forever.
However, even if all the stars align to indicate now is a good time to buy, in the end, it's a personal decision. A decision that you have to be comfortable with. And when you decide the time is right, the talented, knowledgable and dedicated agents of Homewaters will be here - ready, willing and able to help.
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