I really enjoy working with my Military families. They have such a short time to make housing decisions and then they are leaving the rest up to their Realtor. I have decided to focus my business around Police, Fire and Military personnel. Being an Affiliate with Homes for Heroes allows me to give back to these Heroes who give so much to our Country and our Communities protecting and serving us.
This week saw activity slow to 50 sales. Historically the market slows beginning in November through mid February and this would be considered a typical seasonal decline in activity. There seems to be allot of uneasy feelings in the market. While interest rates should be heading higher in a free market they are declining with the Fed manipulating the market by purchasing 70% of the treasury bonds being issued in the market and selling put options to reduce the risk of the bonds. We are very busy with refi appraisal work at the moment, however the slightest change in rates will cause the appraisal business to fall between 50-70% which is a very uneasy feeling. While inflation is being reported at 3.9% the statistic does not include food or energy, including those items puts inflation over 10% while incomes are flat to declining. I do not bring these up to create a negative report, quite the contrary. I bring them up to alert you that things may not be what they seem to be as finding the truth is becoming more difficult, especially in government statistics. There is always opportunity in adversity and I believe the next decade will bring the most significant opportunity in our lifetime if you are aware of what is happening and the forces that are driving it. Educating yourself now is more important than ever, by seeking the truth you will have the opportunity to prosper. The real estate market is being heavily manipulated through interest rates, inventory of REOs, financing options, closing fees, and numerous other regulations. Things are not what they seem to be, however once the dust clears and we can actually have a free market, opportunity will abound. Have a Happy Halloween!!!
Weekly Market Statistics
114 New Listings
50 Sold Listings
Sales By Classification
43 Residential $15,000 to $1,250,000 Median $112,000 Mean $179,195
3 Vacant Land $30,000 to $68,000 Median $32,000 Mean $43,333
4 Commercial $740 Lease to $90,000
Sales by Location
11 Antrim County
7 Benzie County
21 Grand Traverse County
3 Kalkaska County
6 Leelanau County
1 Wexford County
1 Outside Areas
Expired Listings 119
Year over Year Comparison for Grand Traverse County on & off water homes
Off Water Homes All Values
Current Listings 800
Sales 10/09-10/10 893 10/10-10/11 788
Average DOM 154 or 5.1 Months
Value Direction Up 1.6%
Market Activity Down 11.8%
Inventory Supply 12.2 Months
Direct Water Homes All Values
Current Listings 286
Sales 10/09-10/10 113 10/10-10/11 131
Average DOM 212 or 7.1 Months
Value Direction Up 5.7%
Market Activity Up 15.9%
Inventory Supply 26.2 Months
Weekly Market Statistics
10/17/11 thru 10/23/2011 from the TAAR MLS
114 New Listings
59 Sold Listings
Sales By Classification
46 Residential $6,250 to $965,000 Median $124,950 Mean $1184,204
8 Vacant Land $18,000 to $200,000 Median $67,750 Mean $98,437
5 Commercial $1,950 Lease to $400,000
Sales by Location
11 Antrim County
8 Benzie County
24 Grand Traverse County
4 Kalkaska County
10 Leelanau County
0 Wexford County
2 Outside Areas
Expired Listings 66
Year over Year Comparison for Grand Traverse County on & off water homes
Off Water Homes All Values
Current Listings 803
Sales 10/09-10/10 893 10/10-10/11 777
Average DOM 153 or 5.1 Months
Value Direction Up 1.7%
Market Activity Down 13.0%
Inventory Supply 12.4 Months
Direct Water Homes All Values
Current Listings 291
Sales 10/09-10/10 113 10/10-10/11 130
Average DOM 212 or 7.1 Months
Value Direction Up 3.8%
Market Activity Up 15.0%
Inventory Supply 27.3 Months
Inventory levels continue to decline, helping to stabilize values.
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My name is Christine Stalsonburg and I am a Director with Homes for Heroes®.
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