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TC's Century 21 Northland is expanding its reach again. Less than three months after taking over the former Suttons Bay office of Century 21 McCoy (which closed after cutting ties with the Century 21 franchise in May), Northland has announced its acquisition of Century 21 Sleeping Bear Realty, which boasts 18 agents and offices in Frankfort, Beulah and Empire.
Sleeping Bear Realty has been under the ownership of Suzy Voltz since 1976. Voltz will stay on as an agent in the Frankfort office, but says she is pleased to hand off the management of Sleeping Bear to "younger, active folks" so she can spend more time with her customers and clients, and slow down in her later years.
"Century 21 Northland is on the cutting edge of new technology, which will assist our agents, and it has very high ethical standards, which match our mission as well. I'm looking forward to our new alliance," says Voltz.
"We couldn't be more pleased with this acquisition," says Brad Platt, sales manager and co-owner of Century 21 Northland. "Frankfort, Beulah and Empire represent a very desirable region in northwestern Michigan, and its popularity is ever growing. Suzy and the team at Century 21 Sleeping Bear have done a wonderful job in becoming dominant in market share, and growing into that region has always been a part of our business plan."
Jon Becker - Century 21 Northland
www.c21jb.com for Grand Traverse area real estate listings
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September proved to show a long anticipated increase in real estate activity in Northwest Michigan. Buyer activity has been trending upward after a lackluster summer season, and we're driving into the fall with a lot of offers being written and properties being put under contract.
The number of residential sales for September we up 31% over 2008- actually they were the best they've been in the past 4 years. This has been driven by the downward adjustment in sale prices. Buyers flocked to those listings where the prices had dropped in concert with the regional market trend. Median price as compared to the prior year was down about 11%, which is on par with year to date figures as well.
Overall, we've seen home prices decline just under 21% since their peak in 2005/2006.

Value leaders have been in the low and middle ranges- you'll see in the chart below a sharp increase in the number of sales under $40,000 (WHAT! A house in NW Michigan for under $40,000? Yep.) That trend is reflected up into the midrange, with gains up through the $180,000 range.

Where we've fallen off is at the higher end, made up primarily of waterfront/vacation homes. Many of these sellers are either insulated from the economic pressures of our current economy, or have just not come to terms with the effect that the overall market has had on their values. While waterfront properties have suffered much less exposure to price erosion, the lack of transactions indicate that the buyer population is waiting for adjustment to take action. There are some exclusive enclaves (such as Crystal Downs on Lake Michigan) where little if any depreciation is occurring, but what we've seen on other lakes is that only those properties that have made adjustment are selling.
We continue to have some very good values, but the best deals get picked off very quickly, and as inventory continues to tighten, we'll see increased competition for these listings. Multiple offers are already common, and by all indication this trend will continue.
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I somewhat regularly post the best deals I come across in my Unreal Deals Blog. My latest find looked great on paper and I was excited to feature it:
“My newest UnReal Deal is all about the acreage.
Turns out on paper isn’t real life, and I should have toured it before I featured it. Yep, it’s got all those acres, and the house, and the barn, but the house is as bad as the agent let on in his comments. The deck has…let’s call it debris… an inch thick on it. The former owner sold all the top soil off of the land, and allowed contractors to dump old concrete and road construction debris out back.
Don’t take this to mean the agent was dishonest in describing the property. By no means did he sugar coat it, but by getting caught up in the specifications of the property, I rushed to judgement. This might still be an OK deal for the right buyer, but it’s not as UnReal as I had thought.
This is similar to the realization that many buyers face when looking at foreclosed properties- they compete on price alone. Condition and history are unknown. Nobody is loving them, keeping them feeling like a home. The good news for buyers is that more and more sellers are taking competitive stances on pricing, bringing well cared for homes into the mix with foreclosures.
If you’re in the market, don’t limit yourself by telling your agent you’re only interested in foreclosures. Just because the bank owns it, doesn’t mean it’s the best deal.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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