Northern Michigan Real Estate: April 2009

In a previous blog, I mentioned the box exchange service that I offer to my clients.  The one thing that I forgot to mention was the alternative to those expensive peanut packing products that are out there.  If you have not had the opportunity to stop by and price those little jewels, they are quite priceless.  They would be a great commercial ad for Mastercard because they are priceless.  I cannot even begin to try to rationalize why it costs so much to purchase a bag of Styrofoam peanuts.  I suppose it is simple supply and demand.  I have found an alternative to packing peanuts. 

Most of us have a shredder at home and we can put it to good use for our clients.  I recently was packing items in my Arizona home to send out to my home here in Traverse City and ran out of those "wonder peanuts".  I went to the local packaging store and just about choked on my words when the clerk told me how much they were going to cost.  I immediately went home and ranted to my husband about the incident.  His response was "we have a shredder and that ton of newspapers in the garage".  Why don't you just shred those and use it for packaging.  What wonderful idea.  That is just we what we did and it turned out just great.  I had all of the packing fill that I needed and it did not cost me dime. 

This is something that we can do for our clients.  If we have shredders at home, why not shred and package all of our paper into large trash bags to pass on to our clients when they are moving.  It makes great fill material and your clients will love you for not having to go to the store to purchase those high priced packing peanuts.

Christine Stalsonburg, Realtor

"A Tradition Of Sound Advice"

231-944-0854

www.stalsonburg.com

www.northernmichiganrealestatecs.com

Coldwell Banker Schmidt Realtors

402 E. Front St.  Traverse City, MI   49686

The burning question on ever Buyer, Sellerand Realtor's mind is - When will our market stabilize?  If we each had a crystal ball, we could predict that information for the world to hear and see.  Unfortunately, we do not have a crystal ball. 

A healthy Real Estate market is one that has no more than 6 months of inventory in it.  Nationally, we currently have approximately 9% of inventory on the market.  So, what does this mean.  It means that we are still in a Buyers market for homes. 

In order to maintain a healthy Real Estate market, we must have an equal amount of Buyers who are ready, willing, and able to purchase homes and Sellerswho are willing to sell at market value.  Without both of these critical components, we will have a disconnect in our market.  This is what we are currently seeing.  Buyers are searching for the deal of the century, therefore taking much longer to make a decision to purchase.  Buyers are also waiting for interest rates to drop even further before making that all important decision to sign on the dotted line.

The 1st Time Home Buyer Tax Credithas increased 1st Time Buyers to purchase.  Just over 50% of the homes purchased last month were 1st time homebuyers.  In order to reach more home buyers, we desperately need for Congress to pass the $15,000 primary home purchase tax credit.  This tax credit would enable ANYONE who was purchasing a Primary Residence to be eligible for the credit. 

Our housing market is in much better shape then it was a uear ago when we were faced with 18+ months of inventory on the market. 

Although some are waiting for interest rates to lower even further, we are seeing interest rates at an all time low and it is a GREAT TIME TO BUY A HOME!

Link to Video Jim Gillespie, President and CEO of Coldwell Banker

Christine Stalsonburg, Realtor

"A Tradition Of Sound Advice"

231-944-0854

www.stalsonburg.com

www.northernmichiganrealestatecs.com

Coldwell Banker Schmidt Realtors

402 E. Front St.  Traverse City, MI   49686

Sellers and Listing Agent's Beware

We finally get a contract on our listing and we are very excited to bring it to the seller.  After days of negotiation, we finally have a meeting of the minds.  Our sellers are ecstatic!!!  Then we hold our breath for the inspection period to end to make sure that they buyers do not find anything that they just cannot live with. 

The inspection is done and the buyer brings a list of repairs to be done, based on the inspection report that are longer than your arm.  The first thing that most agents do is ask to see the report to verify the repair requests.  I caution each and every one of you to re-think asking for these reports.  Once you and your seller see everything that the inspector just found wrong with your home, you are not obligated to update your seller disclosure documents to reflect this new information (if it was not already incorporated in your original documents). 

This is something that many do not think twice about.  Unless you are prepared to make this new report a part of your seller disclosure obligation, I would not ask to see the report.  Bottom line for the seller is that the buyer has asked for the repairs and it is up to the seller if they want to make them or counter back with a different list of repairs that they are willing to do. 

As the Buyer's Agent, you should also be aware that if you review the report personally and then pass it on to your buyer, you are then also obligated to disclosure to any other potential buyers for that property what you know about the property from the report.  If for some reason the original buyer backs out of the purchase based on the report and you happen to have another buyer who wants to put in a contract on this home, you must tell them what you know about the house based on the report that you reviewed.

The review of the inspection report should be handled just as the loan application process is handled.  The buyer should deal directly with the inspector and ask you, as their Realtor to ask for the repairs that they feel are necessary to move the contract forward.  Take yourself right out of the middle of this and don't review the inspection report unless you are willing to disclose everything that you learn from that report to any other prospective buyers for that home.    If another potential buyer finds out that you knew information about that home and did not disclose that to them, you could find yourself defending that action in the future. 

Some buyers are very confused when they get this huge report and have to decide what to be concerned about and what not to be concerned with.  This is why I always encourage my buyers to attend the inspection so that the inspector can show them the concerns that he/she finds and explain what the findings mean.

Christine Stalsonburg, Realtor

"A Tradition Of Sound Advice"

231-944-0854

www.stalsonburg.com

www.northernmichiganrealestatecs.com

Coldwell Banker Schmidt Realtors

402 E. Front St.  Traverse City, MI   49686

Let's Give The Buyer An Allowance

Sellers often seem to think that it is a good idea.  As a seller, it makes sense to let the buyers make the choice.  Your carpet needs to be replaced.  It is showing lots of wear.  Or perhaps, it is a pretty green.  You have always loved it.  It goes with your furniture.  You know it is not one of today's trendy colors.  So, why not give the buyers an allowance and let them pick what they want?

That "allowance you want to give them" is a deduction off the price of the house.  That means after the close buyers have to come up with the case to buy new carpet.  They may not have it.  Particularly in today's market where they need 20% down.  Lenders will not let buyers roll the price of the carpet into their mortgage.  Even if you have the money held with the escrow for the allowance, the buyer will still fear that it will not be enough to cover the replacement cost.

Then there is the buyer's fear of the unknown.  What will the price be to replace the carpet?  In the buyer's mind, the carpet costs more than the allowance you want to give them.

Sellers will increase the value of their homeand the a higher price if they prepare the house for sale and replace the carpet with a neutral colored carpet.

If you are curious about what to do to increase the value of your home, call me at 231-944-0854 or contact me at christine.stalsonburg@coldwellbanker.com or visit my web site at www.stalsonburg.com.

"A Tradition Of Sound Advice"

Christine Stalsonburg, Realtor

231-944-0854

www.stalsonburg.com

www.northernmichiganrealestatecs.com

Coldwell Banker Schmidt Realtors

402 E. Front St.  Traverse City, MI   49686

Traverse City Michigan Real Estate

Traverse City Michigan Real Estate market is alive and going strong.  Grand Traverse County has had 195 homes sold so far this year with a 94% list price/sale price ratio.  Many of these sales were Foreclosed Properties and Bank Owned Propertieswhich brings great deals for Homebuyers.

First Time Homebuyers have an added advantage.  They are able to take advantage of the $8,000 First Time Homebuyers Tax Credit.  Rural Development Loansalso give a benefit to Homebuyers in our area with the ability to purchase a home with No Money Down.  Both of these programs have guidelines that must be followed, so be sure to consult your local Real Estate Expert for further information.

Christine Stalsonburg, Realtor

231-944-0854

www.stalsonburg.com

www.northernmichiganrealestatecs.com

Coldwell Banker Schmidt Realtors

402 E. Front St.  Traverse City, MI   49686

Old Mission Peninsula in Traverse City is a very unique community.  This quiet, tranquil peninsula offers wonderful views of the East Bay and the West Bay of the Grand Traverse Bay.  Many of our communities wineries are located on Old Mission.  There is very little other business activity on the peninsula other than a few incredible restaurants like the Boat House and Bowers Harbor.  Currently there are 50 luxury homes listing and the average listing price is $1,197,858.  During the past four months, 3 homes have sold on the peninsula with an average time on market of 409 days.  The sale price/list price ration is 89.5%.  For anyone looking for a luxury home in a serene setting, Old Mission Peninsula is the place to look.

Christine Stalsonburg, Realtor

231-944-0854

www.stalsonburg.com

www.northernmichiganrealestatecs.com

Coldwell Banker Schmidt Realtors

402 E. Front St.  Traverse City, MI

Brown, Rainbow and Lake Trout, Whitefish, Coho & Chinook Salmon, Perch and Smallmouth Bass are native to the coast of Lake Michigan.  Lake Trout and Salmon are the most commonly fished with Lake Trout being caught from mid May to mid July and salmon from the 1st of July into October.  A fish graph is almost a necessity if you plan to successfully catch lake trout, whitefish and salmon.

Lake trout are bottom fish and are typically found in 80 to 120 feet of water, depending on the bottom water temperatures.  Their average weight is 6 to 8 pounds, with some going over 20 pounds.

Salmon range from 6 to 15 pounds at the beginning of the season and finishing with weights ranging from 10 to 24 pounds.  The chinook, or king salmon, is the largest salmon in Lake Michigan and last year 35 pound chinook were not uncommon.  Salmon prefer certain water temperatures, rather than cruising on the bottom, so they normally are found suspended at various depths in deeper water.

Favorite spots to fish lake trout and salmon are off Frankfort Harbor, Platte Bay, Good Harbor Bay, Leland, West and East Grand Traverse Bays and off Elk Rapids.  Brown and rainbow trout are normally found in shallower water in the same areas.  Brown's weigh up to 30 pounds and rainbows up to 20 pounds.

Trout and salmon baits vary almost weekly, with weather and water conditions and time of year.  However, favorite lake trout baits fished off downrigger and chrome or brass cowbells, or dodgers with spoons, plugs or flies in blue, chrome, green and chartreuse.  Salmon can be taken on these same combinations, plus more, varying in color.  Browns and rainbows will also hit these combinations but the preferred methods and bait is to troll with long lines weighted, or off downriggers with singular fish imitating baits in color patterns of blue/silver, black/silver and orange/gold.

Smallmouth bass and perch are caught all over these coastal waters with bass averaging 2 to 3 pounds and perch running 9 inches to jumbo's.  Fish for bass over rocky shoals in 3 to 15 feet of water.  Perch like flat bottom areas in 10 to 40 feet of water.  Casting or trolling imitating baits or spinners work well on smallmouths.  Perch prefer live minnow or wigglers, still fished 8 to 18 inches off bottom.

Whitefish are normally fished for in winter and spring and cught by jigging Swedish Pimples just off the bottom.  A favorite spot for whitefish is in East Grand Traverse Bay, approximately a mile off the east shoreline near Acme.

Christine Stalsonburg, Realtor

"A Tradition Of Sound Advice"

231-944-0854

www.Stalsonburg.com

www.NorthernMichiganRealEstatecs.com

Coldwell Banker Schmidt Realtors

402 E. Front St.  Traverse City, MI   49686

Kidz Care Foundation was formed in February of 2009 in Traverse City, MI to insure that infants and children under the age of 5 have healthy start at life.  The foundation provides grants to families who cannot afford immunizations and well child checks for their children.  The primary target population of this foundation is Northern Michigan with focus in the Grand Traverse Region.  Currently we are seeking grant funding as seed money for the foundation.

Our children are our future and they deserve the very best start at a healthy life.  Many children in our country, due to no fault of their own, are not receiving timely childhood immunizations and child development assessments.  Immunizations are an extremely important part of a child's first few years of life and can safeguard them against debilitating diseases later in life.  Just as important, are the child development assessments that children receive as a part of their immunization program.  Many diseases and growth related health issues can be detected and potentially corrected when caught early. 

With love, care and compassion, we can see that all of our children receive a healthy start in life - One Child At A Time.  Our foundation colors represent three special areas; Lavender for the magic that a child brings into our lives, Pale Green for growth and harmony and White for the purity of a child.

Many of our children go without their immunizations or are extremely late in receiving these vital immunizations during their infant, toddler and pre-school years.  There are many clinics out there that offer free immunizations.  Administering the vaccine is only step of the well-child visit.  These children also need to be examined by a pediatric medical professional to screen for abnormalities in the child's growth as well as any sight, hearing or speech challenges that the child may have.  Many disease and developmental issues, if detected early, can be remedied. 

 A portion of my commission go to fund this very important foundation and this is my way of giving back to all of those in the community that have supported me and my business over the years.

www.kidzcarefoundation.org

Christine Stalsonburg, Realtor

"A Tradition Of Sound Advice"

231-944-0854

www.stalsonburg.com

www.northernmichiganrealestatecs.com

Coldwell Banker Schmidt Realtors

402 E. Front St.  Traverse City, MI   49686

Crystal Lake is a 9,711 acre lake located in Benzie County, just west of Traverse City.  Access to this beautiful lake is in the town of Beulah at the municipal beach.  Lots of great fishing on this lake:  Brown, Lane and Rainbow Trout, Whitefush, Cisco, Perch, Smelt, Burbot and Sucker.  Brown and Rainbow trout are caught along the dropoffs and average 3 to 6 pounds. In late May and early June, during the Mayfly hatch, whitefish are caught over Mayfly beds.  One such bed occurring each year is located just east of Bay Point on the south shore.  Both whitefish and trout are caught jigging wigglers on light line in 25 to 40 feet of water near these beds.  Northern Pike and Perch are fished at the eastern end of the lake and jumbo Perch and trophy Pike are often taken.  Look for weed beds when fishing pike and perch.

Christine Stalsonburg, Realtor

"A Tradition Of Sound Advice"

 231-944-0854

www.stalsonburg.com

www.northernmichiganrealestatecs.com

Coldwell Banker Schmidt Realtors

402 E. Front St.  Traverse City, MI   49686

This is a great piece that Avery has put out on making our offices a little more environmentally friendly.  There are some great ideas here that are easy to implement.  They also have some great templates on their web site for recycle cans, etc.

ENJOY

The Office Guide to Going Green Want to do more to help the environment? The workplace offers plenty of opportunities where you and your co-workers can make a difference. Here are some eco-tips on how to easily incorporate going green into your work day:

When you and your co-workers support each other and make the effort to go greener, doing your part to help the environment will soon become second nature. Share these tips at your workplace, and inspire those around you to make a positive change. Going green isn't just a passing trend, it can be a way of life.