The Fall Season in Northern Michigan!
Real Estate Market Update: Current conditions in mid to late 2022. Still overall a strong Seller's Market with low home inventory levels - this has become a "normal" trend in the last couple of years. Mike forecasted general appreciation levels of 8 to 9% for each year 2015 through 2020 and those figures were quite accurate. We have seen overall levels exceed 10% for all of 2021 mainly due to supply and demand forces. We predict a slight plateau in values coming in the next 18 months, though nothing close to the downturn that we experienced back in late 2006 to about 2011.
Commercial Real Estate has also experienced strong activity. For vacant land, both values and sales have been moving upward at a steady pace. Investment in recreational property has been "top of mind" for many people as a solid alternative to other types of "more traditional" investments. New single family home and condo starts also remain strong - though the costs of new construction have generally risen above Real Estate appreciation levels! Overall, this is a growing and popular area!
Other trends: Increased interest in Agricultural and Marijuana-related properties as well as increased logging activity. Waterfront values are generally outpacing "average" property values due to limited supply and much better economic conditions. Mortgage interest rates WILL increase in 2022.
TCarea.com, LLC is an independent, locally owned company dedicated to the business of Real Estate and maintaining good relationships with the public and our clients. We are long-time members of the Aspire North (formerly the Traverse Area - TAAR) Association of Realtors. Our goal and commitment has always been to look out for the best interests of our clients. Contact us anytime with your Real Estate wants, needs and challenges and we will use all of our resources to help you. Need advice or just have a general or specific question involving anything related to Real Estate? Just call or email us anytime - we will always take the time to help.
Below is the public area of our MLS (Multiple List Service) system that covers Grand Traverse, Kalkaska, Benzie, Leelanau, Antrim and many other Counties in Michigan (there are 3 separate Real Estate boards involved with our Regional-based MLS).
We make this an open area because we know that the MLS has the latest, continuously updated information that IS accurate (unlike some other websites online). We do not require registration or anything like that. However, because this is the general public area of the MLS, there are a few things to keep in mind: 1) If a property is under contract (the seller has accepted an offer on it, but it has not closed yet) it will not show up this way on the site and may look to still be available. 2) Most foreclosures, auction type properties or short sales have specific requirements that may not be within the public advertising remarks of the listing. 3) Some details are not within the listings like tax info, surveys or maps. You can always drop us a quick email if you need us to check something out for you - we are happy to help and can usually get you a quick, no hassle answer.
If you have specific questions about ANY area properties or would like to make an appointment to view something in person, please feel free to send us an email or call anytime (we are usually available 7 days a week). We can also provide general area information or perform a more thorough search on your behalf. If you need a plat or tax map concerning a property that you are interested in, just let us know - we'll get it right to you. If you need Real Estate Investment guidance or want an honest assessment about an area or topic, we can do that. We want your business... and our goal is to be diligent and helpful in order to earn it. Remember, it costs you nothing to have a dedicated Buyer's Agent to represent your interests.
Good deals go fast! Contact us anytime if you want "The TCarea Advantage" finding YOUR deal.
Thanks much and regards,
Realtor Mike and Deanne at TCarea.com
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