12555 E Tatch Road, Omena – NEW LISTING

Desirable one floor living is offered throughout this large move-in ready ranch home featuring 3,000+ sq ft of finished living space, 4 bedrooms, 3.5 baths, open kitchen/living room with a freestanding gas stove, spacious master bedroom suite with a walk-in closet & private bath, 430 sq ft hobby/sewing room, 750 sq ft heated workshop, and an oversized 40x24 attached heated garage! The beautiful 3.22 acre countryside setting also features a sprinkler system, gardens, 2 storage sheds, composite deck, covered porch, and is within walking distance to dinner & the beach in downtown Omena!

7545 E Obrien Road, Lake Leelanau – SOLD

SOLD LAKE LEELANAU HOME

LISTED & SOLD by Oltersdorf Realty LLC on 3/13/2017
7545 E Obrien Road, Lake Leelanau, MI - 3 Bedroom Ranch Home on 7 Acres & Pole Barn
Asking Price: $255,000

Situated on 7.00 acres in a fantastic countryside location this 3 bedroom vinyl sided ranch home features hardwood flooring throughout, an open great room with a wood stove, covered front porch, rear deck with a screened-in porch, full unfinished basement, attached 2 car garage, and an additional detached 24’x36’ garage with electricity! Beautiful acreage views outside your back door!

11638 E Belanger Woods Drive, Suttons Bay, MI – SOLD

SOLD SUTTONS BAY WATER VIEW LOT

LISTED & SOLD by Oltersdorf Realty LLC on 3/13/2017
11638 E Belanger Woods Drive, Suttons Bay, MI - Elevated Water Views
Asking Price: $119,000

This 2.22 acre wooded building site offers elevated and sweeping panoramic water views of Grand Traverse Bay, and complete privacy within this wonderful neighborhood of large acreage building sites and quality homes! Association amenities include paved private roads, underground utilities including natural gas & cable. A wonderful setting to build your dream home in a convenient location just north of Suttons Bay in picturesque Leelanau County! Call for details!

10636 S Plowman Road, Glen Arbor - SOLD

SOLD GLEN ARBOR HOME

SOLD by Oltersdorf Realty LLC on 3/10/2017
10636 S Plowman Road, Glen Arbor, MI - Affordable Leelanau County Home on 2.25 Acres
Asking Price: $169,900

This affordable Glen Arbor ranch home is situated on a beautiful 2.25 acre parcel and features 3 bedrooms, 1,440 sq ft, wood stove, new septic system, and an oversized 2+ car garage. The 2.25 acre gently sloping lot features a meandering stream and is located just minutes from the Sleeping Bear Dunes National Lakeshore, Glen Lake, Lake Michigan beaches, downtown Glen Arbor and Empire!

1451 S Bay View Trail, Suttons Bay – NEW LISTING

Spectacular 180 degree water views over West Grand Traverse Bay are featured throughout this extraordinary home located on a very private wooded lot offering natural low-maintenance landscaping and fully controlled unobstructed elevated water views! Enjoy 2700+ sq. ft. of finished living area, an open living room with a brick fireplace and new hardwood flooring, a large open kitchen with new cork flooring, 3 bedrooms, 3 baths, office with built-in Murphy bed, walk out lower level, and extra deep attached garage! Wonderful low traffic location on a county maintained cul-de-sac and access to 182' of shared frontage on West Bay!

7311 S Lake Leelanau Drive, Traverse City – NEW LISTING

South Lake Leelanau sunset water views are enjoyed from this large 18.08 acre vacant parcel featuring beautiful open and rolling countryside terrain. Located within a short 10 minute drive to Traverse City on a paved county maintained road and within walking distance to public Lake Leelanau water access/boat launch. A survey and soil evaluations are on file, and natural gas & cable is available at the road! Nothing else like this is currently on the market! Note: There are power line easements across the property and driveway access is available off of Bingham Ridge Drive (see survey).

5675 E Hoxie Road, Cedar - SOLD

SOLD CEDAR HOME ON ACREAGE

SOLD by Oltersdorf Realty LLC on 2/28/2017
5675 E Hoxie Road, Cedar, MI - 4800 Sq Ft Home + 76 Acres
Asking Price: Undisclosed

Spectacular one-of-a-kind high quality craftsman home nicely secluded on 76 acres of rolling, wooded, and open terrain. The home features 4800 sq ft of finished living space, 4 bedrooms, 3.5 baths, open great room, exorbitant mechanical systems, and an attached 3 car heated garage. Package also includes an oversized 2+ car detached building and a large pole barn and fenced pasture. Truly an estate sized parcel!

Leelanau County Home Sales vs S&P 500 Index

Leelanau County Home Sales vs S&P 500 Index Year-End Price 2004-2016

Out of curiosity I wanted to chart the average home sales price and median sales price in Leelanau County compared to the S&P 500 Index year-end value dating back to 2004 to determine just how correlated the three data sets are. As expected, you can see in the graph above there is a significant trend between the rise and fall of home prices and the rise and fall of the S&P 500 Index. Even though our real estate market has recovered significantly since 2008-2009 it hasn’t approached the astonishing growth of the stock index during that timeframe. Is the stock market significantly overvalued today? Will Leelanau County home values continue their growth trajectory? No one can predict with certainty what will happen but we can try!

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2004-2016. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com

7156 N W Bay Shore Drive, Northport - SOLD

SOLD NORTHPORT WATERFRONT PARCEL

LISTED & SOLD by Oltersdorf Realty LLC on 2/10/2017
7156 N W Bay Shore Drive, Northport, MI – Vacant 150’ of Sandy Frontage on Grand Traverse Bay
Asking Price: $385,000

Beautiful wooded waterfront building site featuring 150’ of private direct sandy bottom frontage on Grand Traverse Bay, 1.67+ private acres, shared pond & creek, natural gas & cable high speed internet available, and a private drive shared with only 2 other homes located just north of Omena well off of M-22! The property corners have been marked and the parcel is ready for your dream home!

2016 Leelanau County Year-End Home Sales

2016 Leelanau County Home Sales
Year-End Totals

The 2016 year end (January 1 – December 31) home sales data have been posted in the charts above. The home sales statistics compare real estate housing sold in Leelanau County from January 1, 2016 through December 31, 2016 to the same time period in 2015, 2014, 2013, 2012, 2011, and 2010. This includes the townships of Bingham, Centerville, Cleveland, Elmwood, Empire, Glen Arbor, Kasson, Leelanau, Leland, Solon, Suttons Bay, and the City of Traverse City within the southeast corner of Leelanau County.

2016 Leelanau County Home Sales Volume increased +24.16% over last year's numbers, Units Sold increased +16.01%, Average Sales Price increased +7.20%, and Median Sales Price increased +3.51%.

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2010-2016. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com

2016 Grand Traverse County Year-End Home Sales

2016 Grand Traverse County Home Sales
Year-End Totals

The 2016 year-end (January 1 – December 31) home sales data for Grand Traverse County has been posted in the charts above. The home sales statistics compare real estate housing sold in Grand Traverse County from January 1, 2016 through December 31, 2016 to the same time period in 2015, 2014, 2013, 2012, 2011, and 2010. This includes the townships of Acme, Blair, East Bay, Fife Lake, Garfield, Grant, Green Lake, Long Lake, Mayfield, Paradise, Peninsula, Union, Whitewater, and the City of Traverse City.

It was another year of record breaking residential home sales throughout 2016. During 2016 Grand Traverse County Home Sales Volume increased +9.54% over 2015's record setting volume. Median Sales Price was up +9.24% while Average Sales Price was up +7.08%. Total number of units sold increased +2.30% in part due to very low inventory in the 2nd half of the year.

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2010-2016. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com

4903 Waldon Circle, Traverse City – SOLD

SOLD TRAVERSE CITY HOME

LISTING SOLD by Oltersdorf Realty LLC on 1/28/2017
4903 Waldon Circle, Traverse City, MI – 3 Bedroom & 2 Bath Ranch Home
Asking Price: $165,000

This 3 bedroom, 2 bath ranch features desirable main floor living, 1700+ finished sq ft, a partially finished walkout basement with a wood stove, attached 2 car garage, an additional 24x20 heated detached garage, shed, updated siding and windows, and a metal roof installed in 2015! The house is situated on a 0.52 acre lot in a very quiet cul-de-sac location with county maintained roads and private well & septic!

Leelanau County 2016 Waterfront Home Sales

Leelanau County 2010 - 2016 Private Waterfront Home Sales

The data below includes all reported home sales with private direct water frontage and private "across the road" water frontage within all of Leelanau County on Lake Michigan, West Grand Traverse Bay, and all inland lakes. Homes with frontage on rivers, ponds, and creeks are excluded.

Leelanau County Waterfront Home Sales data 2010-2016 for homes with private water frontage on all Inland Lakes, Grand Traverse Bay, and Lake Michigan. This includes Traverse City, Suttons Bay, Omena, Northport, Leland, Lake Leelanau, Cedar, Maple City, Glen Arbor, and Empire. The data includes homes with private direct waterfrontage and across the road private waterfront. This excludes homes with shared access, creek frontage, river frontage, and pond frontage.

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2010-2016. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com

Downtown Traverse City 2016 Home Sales

The 2016 year-end residential home sales data for Downtown Traverse City (within the city limits) has been posted in the charts above. The home sales statistics compare real estate housing sold in the City of Traverse City from January 1, 2016 through December 31, 2016 to the same time period in 2015, 2014, 2013, 2012, 2011, and 2010. This includes single family homes and condominiums only within the city limits.

Compared to last year Average Sales price increased +4.04%, Median Sales price increased +9.30%, Home Sales Volume has increase +3.44%, and total number of units sold has actually decreased -0.58% compared to 2015. For the 3rd year in a row there remains record low home inventory available in downtown Traverse City.

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2010-2016. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com

2016 Leelanau County Equalization Reports

2016 Leelanau County Equalization Reports

If you visit the Leelanau County Equalization website you can view and download dozens of interesting reports dealing with the real estate values throughout Leelanau County.  The equalization director Laurie Spencer does a tremendous job providing information to the public.

A couple of facts that stood out to me in comparing 2016 to 2015.

-Total parcels grew by 195 parcels or just +0.77%.
-Total assessed value increased by +3.07%
-Total taxable value increased by +1.82%
-Leland Township holds the most real estate value in the county, followed by Glen Arbor Township, and then Leelanau Township.
-Residential property makes up 89.5% of the real estate value in Leelanau County.
-The top payer of property taxes in Leelanau County is Consumers Energy Company, followed by Bayberry Group Inc (Homestead), Toms Food Market Inc, and DTE Gas Company.

Photos provided by Leelanau County Equalization

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com

Michigan Abolishes Dower Rights

Michigan Abolishes Dower Rights

Prior to this year if a single man owned real estate in Michigan prior to his marriage his now wife was required to sign the deed on the sale of that real estate. On January 6, 2017 Michigan passed Public Act 490 of 2016 which eliminated dower rights in Michigan. The full legislation signed by the governor were Public Acts 378, 489, and 490 of 2016 which will be effective on April 7, 2017. Married persons of any sex will now be able to sell real estate without their spouse signing the deed to waive dower rights if the real estate is only in one name.

 In summary, the 3 bills contain the following:

-Senate Bill 558 (Sen. Jones) – Abolishes a wife’s dower right in both statute and at common law and repeals sections of the Revised Judicature Act that pertain to dower rights.

-House Bill 5520 (Rep. Kesto) – Deletes a provision that judgments of divorce and separate maintenance include a provision in lieu of dower.

-Senate Bill 0560 (Sen. Jones) – Applies the right of dower only to a surviving widow whose spouse died before the effective date of Senate Bill 558.

3813 Ridgeway Place, Traverse City - SOLD

 

SOLD TRAVERSE CITY CONDOMINIUM

LISTED & SOLD by Oltersdorf Realty LLC on 1/6/2017
3813 Ridgeway Place, Traverse City, MI - Desirable Traverse Hills Condominium
Asking Price: $205,000

Desirable Traverse Hills (ages 55+) condominium offering one floor living, a wonderful open floor plan with 2 spacious bedrooms including a master bedroom suite, 2 baths, main level laundry, a bright kitchen, A/C, a large side deck enjoying views of association commons area, and an attached 2 car finished garage! Enjoy quiet, maintenance free one level living, low traffic roadways, use of the community club house, all within minutes of downtown Traverse City, grocery shopping, the new YCMA, and Munson Medical Center!

502 E Union Street, Leland - SOLD

SOLD DOWNTOWN LELAND HOME

SOLD by Oltersdorf Realty LLC on 1/5/2017
502 E Union Street, Leland, MI - Affordable Downtown Leland Ranch Home
Asking Price: $249,000

One of most affordable downtown Leland houses to hit the market in the past decade this charming 3 bedroom, 1 bath ranch offers 1,100 finished sq ft, updated kitchen, 2 car attached garage, and a full unfinished basement. Walk to downtown Leland, Lake Leelanau water access and Lake Michigan beaches! *Listing Photos provided Coldwell Banker Schmidt Realtors- Source: Northern Great Lakes Realtors MLS.

Current Mortgage Rates - January 2017

Annual Average 30 Year Fixed-Rate Mortgage Rates

The annual average 30 year fixed mortgage rates increased slightly in December 2016 up to 4.20%. Above you will find the historical monthly average rate dating back to 2006.