Traverse City Real Estate Blog: June 2010

By Christine Rae, Staging Expert

The Internet is the first source for viewing a property for most buyers, even before talking to a real estate professional. That means curb appeal is important because they are "driving by" the listing, and you don't know it.

Here are 10 things to consider when assessing the curb appeal of your listing:

1. Pressure wash siding, decks, and walkways.

2. Clean windows and gutters, and check downspouts.

3. Check the growth of trees and bushes-ensure they don't block light from any window.

4. Kill any mold or mildew around the property.

5. Mow the lawn, eliminate weeds, and rake and dispose of leaves, especially if it's a wooded lot.

6. Paint the front door. Color choice has a big impact-so you might want to get a professional's advice.

7. Make the front entry sing "welcome". The degree of what can be achieved depends on the size of entry and, of course, your budget. However, even minimal improvements will make a huge difference: Consider flowers, a new mailbox, hardware, lights, and house numbers.

8. Don't forget the rear yard-buyers may attempt to see the back yard during a drive by, even from another street.

9. Outdoor lighting is a huge plus as 50 percent of viewings take place at night. Today we are fortunate to have access to inexpensive but tasteful low-voltage lighting. Consider placing lighting along the sidewalks, driveway, or attractive landscaping elements. Take extra care to ensure your front door and numbers are clearly visible from the street.

10. If the inside of the home is visible at night, be sure the interior lighting also enhances what is seen from the outside.

Remember: You never get a second chance to make a great first impression!

Jon Becker - Century 21 Northland

231-342-5401

jon@c21jb.com

www.c21jb.com  for all your Traverse City real estate listings & information

Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week, down from 4.75 percent a week ago, reports Freddie Mac.

Although rates have held below 5 percent since early May, Michael Fratantoni of the Mortgage Bankers Association notes that demand for purchase loans has fallen in six of the past seven weeks and now is at a 13-year low. Consumers have grown used to low rates, he explains, adding that they balk at buying because they are more concerned about stagnant wages and high unemployment.

Source: Washington Post, Dina ElBoghdady (06/25/10)

© Copyright 2010 Information Inc.

Considering purchasing Traverse City real estate?  Please contact a Traverse City mortgage agent to get your financing pre-approval then contact Jon Becker - Traverse City real estate agent to assist you with your Traverse City real estate purchase.

Jon Becker - Century 21 Northland

231-342-5401

jon@c21jb.com

www.c21jb.com

When you sell a stock, you owe taxes on your gain - the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations.

How to Calculate Gain
In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate, follow these steps:

1. Purchase price: _______________________

The purchase price of the home is the sale price, not the amount of money you actually contributed at closing.


2. Total adjustments: _______________________

To calculate this, add the following:

• Cost of the purchase - including transfer fees, attorney fees, and inspections, but not points you paid on your mortgage.
• Cost of sale - including inspections, attorney fees, real estate commission, and money you spent to fix up your home just prior to sale.
• Cost of improvements - including room additions, deck, etc. Note here that improvements do not include repairing or replacing something already there, such as putting on a new roof or buying a new furnace.

3. Your home's adjusted cost basis: _______________________

The total of your purchase price and adjustments is the adjusted cost basis of your home.

4. Your capital gain: _______________________

Subtract the adjusted cost basis from the amount your home sells for to get your capital gain.

A Special Real Estate Exemption for Capital Gains
Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a home is exempt from taxation if you meet the following criteria:

• You have lived in the home as your principal residence for two out of the last five years.
  
• You have not sold or exchanged another home during the two years preceding the sale.
  
• You meet what the IRS calls "unforeseen circumstances," such as job loss, divorce, or family medical emergency.

Jon Becker - Century 21 Northland

231-342-5401

jon@c21jb.com

www.c21jb.com  for all Traverse City real estate listings and information

#68 Things to Do In Northern Michigan - Traverse City - Grand Traverse Region

Wilderness Canoe Trips

Summer is not complete without a canoe trip. Nothing relaxes the mind and body quite like a leisurely ride down a gently cascading river. If this sounds like your kind of day, consider an excursion to Wilderness Canoe Trips on the Manistee River. Located just 18 miles south of Traverse City, WCT (Wilderness Canoe Trips) provides guests with a variety of water travel including canoes, kayaks, rafts and tubes. Travelers will drift down the Big Manistee River, which is rapid free, but teeming with spectacular sights from dense forests to abundant wildlife. Watch carefully and you may see deer, raccoons, otters, beavers and more fish than the eye can follow as it darts beneath the glittering water.

A Package for Every Family

Wilderness Canoe Trips is not a standard package. Instead they provide an array of trips for every family or groups' specific needs. The Family Fun Trip is offered especially for families with small children or beginners. The trip lasts anywhere from 2 hours to all day and can include canoes, kayaks, rafts or tubes, along a section of river with many shallow areas that meanders through a wildlife sanctuary. High Rollaway Trips are great for overnight canoe trips. Guests can stop at swimming and picnic areas and camp in primitive camp areas above the Harvey Bridge. The Anglers Adventure Trip is a several day excursion perfect for fishermen.

More Information

Wilderness Canoe Trips runs from Memorial Day Weekend through Labor Day Weekend. Visitors can make reservations or simply walk-in for their adventure. If you want a longer trip, WCT offers up to seven-day canoe trips and guests can camp almost anywhere along the river because the surrounding land is all State or Federally owned. Camping is rustic, so remember to pack all the enmities (food, water, tent etc). For more information including trips, prices and location, visit Wilderness Canoe Trips' website @ http://www.wildernesscanoetripsonline.com/

#69 Things to Do In Northern Michigan - Traverse City - Grand Traverse Region

Horizon Bookstore

Most people don't consider a visit to the bookstore a major to-do on vacation, unless of course, they're looking for a steamy romance to flip through on the beach. However, some bookstores go above and beyond the call of duty when providing great reads for residents and tourists alike. Horizon Books in Traverse City, Michigan is one such store. Horizon is no average bookstore; it's a three-level community that draws book patrons, writing groups, coffee lovers, popular authors and much more. If you're considering a visit to the Cherry Capital of the World, swing into downtown and check out Horizon Bookstore, there's no end to what may lay in store for you there.

A "Third Place"

Owner Vic Herman strives to make Horizon Books a "Third Place," a term coined by author Ray Oldenburg in his book ‘The Great Good Place.' A "third place" Oldenburg explains, is the location that people spend most of their time if they're not at home (first place) or work (second place). Anyone who has visited Horizon can clearly see its ‘third place' marker in many people's lives. From the front lobby café to the basement seating and shelves, people rarely just pass through the store. They come with computers, notebooks, friends and kids to relax, order a coffee and chat. They stay to warm up by the fireplace, listen to live poetry readings or watch an author signing. With all the activities you might think it's easy to overlook the books, but au contraire, the shelves are lined with everything from spiritual enlightenment to slow cooker recipes, there is a title, toy or gift for every delight.

Events and Activities

The many events offered at Horizon Bookstore in Traverse City, allow visitors to combine entertainment with book shopping. On June 13^th, Horizon will host two separate author signings. The first, at 1 pm, is Doug Stanton, author of the new paperback ‘Horse Soldiers' among others. At 3 pm, patrons can see Elizabeth Buzzelli as she talks about and signs copies of her new novel ‘Dead Sleeping Shaman.' On June 14^th, in honor of Father' Day, Horizon will host kids' Story Hour with stories pertaining to Father's Day and an opportunity to make gifts for dad. Horizon Bookstores are also located in Petoskey and Cadillac. For more information about the bookstore, visit their website @  http://www.horizonbooks.com/.

More Positive News for the Traverse City Area - Traverse City homes sales +8.71% from 2009!!!

Despite all the gloom and doom we all still hear from the media Traverse City home sales are on the rise and expected to continue to do so.  From January 1st - May 30th 2010 Traverse single family home sales rose by 8.71% with 442 homes sold in Grand Traverse County as opposed to only 319 for the same period in 2009.  The average sales price has also increased by +$10,581.......2009 avg. sales price for this time period was $163,370 and in 2010 $173,951.

Inventory has remained stable with only 19 more homes on the market now in Grand Traverse County than this time in 2009 however the % of expired home listing has reduced by 7.92%.

Great news for our local market and economy , good news for sellers and for buyers out there on the fence or thinking " we will wait a bit longer and see if prices go down more" don't wait!    Prices are already on the rise, interest rates are outstanding ( I have seen 30 yr. fixed numbers as low as 4.85%) in the past couple of weeks. 

2009 Traverse City Real Estate Statistics: 

2010 Traverse City Real Estate Statistics:

Considering Buying or Selling  Traverse City Real Estate?  Contact:

Jon Becker - Century 21 Northland

ABR, SFR, Green, Quality Service Award, Relocation & USAA Movers Certified

231-342-5401

jon@c21jb.com

www.c21jb.com   for all Traverse City Real Estate Listings and information

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6 Bedroom 4 Bath Leelanau County Home Or Bed and Breakfast - Traverse City - Northern Michigan

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Traverse City, MI 49684

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#70 Things to Do In Northern Michigan - Traverse City - Grand Traverse Region

Great Lakes Children's Museum

Many families covet their short, but intensely sweet, vacation time. When June rolls around and the final bell tolls for the children of the family, a summer vacation (away from the Xbox) is surely in order. This year, consider sprucing up that camping trip by taking your wee ones to the Great Lakes Children Museum, located in Traverse City. The Museum goes beyond entertainment and offers children and adults the opportunity to learn about the world around them in a hands-on environment.

A Vision Realized

The Museum began as a nonprofit corporation in 1998; however, it took three years for the Museum's founders to raise the money necessary to fully realize their dream. In 2001, a five thousand square-feet site was renovated and became the Great Lakes Children's Museum. Today, the Museum is open to the public seven-days a week and offers families a range of activities from Interactive Story Time (a story followed by an activity to enhance the story) to Toddler Time (a two-hour session for toddlers to interact and learn).

Interactive Play

Visitors to the museum can plan on a variety of activities designed to heighten the senses and provide fun learning opportunities for kids. The Water Table Exhibit allows guests to interact with moving water, directing it in different ways and learning about channeling and flow rates. The Lighthouse Keeper's Quarters is a brightly colored playhouse, which helps children learn about lighthouses and the role that they once played in society. Additionally, patrons can plan group visits to the museum, hold their child's birthday party there or shop at the Museum Store. Visit the Great Lakes Children's Museum website for more information at http://www.greatlakeskids.org/

#71 Things to Do In Northern Michigan - Traverse City - Grand Traverse Region

The Manitou Islands

In summer, the longer days and starry nights hardly prove adequate for a vacation in Northern Michigan. It pays, to plan ahead and know which locations can truly fill every minute of your time. A trip to the North or South Manitou Islands, a short, but dazzling drive from Traverse City, may be the ultimate destination. Step aboard the Manitou Island Transit, in Leland, and cruise the tossing waves of Lake Michigan. The trip takes one hour to reach North Manitou Island and one and a half hours to reach South Manitou, but don't close your eyes or you'll miss the sugary sands of Sleeping Bear Dunes Lakeshore and the Manitou Passage.

South Manitou

South Manitou Island, part of the Sleeping Bear Dunes National Lakeshore, is an uninhabited island that draws visitors for its smooth sandy beaches, sparkling waters and extraordinary northern white cedars. The cedars, known as the Valley of the Giants, stand over 100 feet tall and are considered some of the oldest cedars in the world. The shipwreck, the Francisco Morazon, is a popular destination by boat or snorkel and can occasionally be seen from the beach.

North Manitou

North Manitou Island, the larger of the two, is any nature lover's playground. Hike charted trails, stroll 20 miles of shoreline or consider a camping expedition, but keep in mind, there are no vehicles on the island so campers must ‘hike in' to their sites. Visitors can climb steep dunes, visit a ghost forest (caused by sand shifts) or lounge in the Pot Holes.

Wilderness Spectacular

Visitors to either island have several options. Consider a day trip to South Manitou, which includes four and a half hours on the island. Four open-air vehicles offer guided tours of the island with a bit of history and a feast of scenery. Camping on South Manitou is permitted at three campgrounds: the Bay, Weather Station and Popple. For North Manitou Campers, over 15,000 acres of forest is at their disposal; campers can choose to set up anywhere they please. At both islands, visitors can hike dunes, backpack trails, snorkel shipwrecks and camp. For more information please visit http://www.leelanau.com/manitou/index.html.