8860 E Donner Rd - Traverse City, MI 49684
10.00 Acres in Leelanau County
SOLD By Oltersdorf Realty, LLC 2-22-11
Asking Price: $98,000
10.00 acres of beautiful gradually rolling Leelanau County countryside located conveniently between Suttons Bay and Traverse City.
Photo courtesy of Century 21 Northland.
Finding the right real estate agent in Leelanau County, Grand Traverse County, or throughout the Traverse City area can be a difficult process.
Oltersdorf Realty, LLC
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Phone: (231)271-7777
E-Mail: RealEstate@Oltersdorf.com
Crestwood Dr - Suttons Bay
Leelanau County,MI 49682
Sold 1-28-11
Rare Acreage Opportunity! This amazing 17 acres building site of mature hardwoods and pines in Suttons Bay Township offers a serene and private setting to build your year round or vacation home! Wonderful rural neighborhood minutes to the Village of Suttons Bay!
Listing and Selling office: OLTERSDORF REALTY, LLC
Oltersdorf Realty, LLC
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Phone: (231)271-7777
E-Mail: RealEstate@Oltersdorf.com
672 W Ryant Rd - Maple City
Leelanau County, MI 49664
Sold 1-21-11
Photos courtesy of Serbin Real Estate. Selling agent: Jonathan Oltersdorf
Oltersdorf Realty, LLC
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Phone: (231)271-7777
E-Mail: RealEstate@Oltersdorf.com
The 2010 home sales statistics for Traverse City’s five county region is now available and charted for you above. This data comprises of all reported sales to the Traverse City Area Association of Realtors for existing home sales and new construction home sales within Grand Traverse County, Leelanau County, Benzie County, Antrim County, and Kalkaska County from 2002 through 2010. Overall 2010 was a very good year for real estate sales within our region considering the health of the Michigan economy as well as the uncertainty of the national economy. Our tourist heavy region remains a bright spot as one of the top destinations in the Midwest. Although prices have remained flat, home buyers were supported by the first time home buyer credit in the spring and record low interest rates through the fall. We also saw a large increase in upper end waterfront home sales in 2010 (a vital segment of our market) after a below average 2009. Vacant land sales have yet to see significant gains (not included in this data) due in large part to the affordability and vast supply of existing homes still on the market. As existing home supply continues to slowly decrease, look for vacant land sales to start to increase and prices to gradually rise, hopefully by mid 2011.
In 2010 we saw a 2% increase in total residential units sold over 2009. More importantly, we saw a 6% increase in average sales price and a 5.1% increase in median sales price over 2009. Median sales price is often the most common used figure to determine the overall real estate market health of any specific region. Here at Oltersdorf Realty, LLC we are fortunate to have had a very successful winter so far and all indications point towards a 2011 with increased sales volume! Please do not hesitate to contact us regarding current status of the Traverse City – Leelanau County real estate market!
Oltersdorf Realty, LLC
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Phone: (231)271-7777
E-Mail: RealEstate@Oltersdorf.com
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This representation is based in whole, or in part, on data supplied by the Traverse Area Association of REALTORS® or its Multiple Listing Service for the period January 2002 through December 31, 2010. Neither the Association nor its Multiple Listing Service guarantees or is in any way responsible for its accuracy. Any market data maintained by the Association or its Multiple Listing Service does not necessarily include information on listings not published at the request of the seller, listings of brokers who are not members of the Association or Multiple Listing Service, unlisted properties, or rental properties.
Check back often as we will post the year end 2010 Leelanau and Grand Traverse County real estate sales data within the next several weeks. This report will provide median and average sales price, total houses sold, and total volume sold for 2010 and previous years for each county!
Oltersdorf Realty, LLC
Phone: (231) 271-7777
Email: RealEstate@Oltersdorf.com
PROJECT 1: Entry Door Replacement (Steel)
Cost $1,218
Resale value $1,243
Cost recouped 102.1%
National averages
PROJECT 2: Garage Door Replacement
Cost $1,291
Resale value $1,083
Cost recouped 83.9%
National averages
PROJECT 3: Siding Replacement
(Fiber Cement)
Cost $13,382
Resale value $10,707
Cost recouped 80.0%
National averages
PROJECT 4: Kitchen Remodel (Minor)
Cost $21,695
Resale value $15,790
Cost recouped 72.8%
National averages
PROJECT 5: Deck Addition (Wood)
Cost $10,973
Resale value $7,986
Cost recouped 72.8%
National averages
For the full article and additional information please visit the following link:
http://www.realtor.org/rmohome_and_design/articles/2011/1101_costvsvalue
Oltersdorf Realty, LLC
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Email: RealEstate@Oltersdorf.com
(231)271-7777
Photos courtesy of Venture Properties. Selling agent: Vicky Oltersdorf
Oltersdorf Realty, LLC
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Email: RealEstate@Oltersdorf.com
(231)271-7777
Are you planning on buying or selling Leelanau County real estate in 2011?
Sincerely,
Vicky & Jonathan Oltersdorf
Oltersdorf Realty, LLC
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(231)271-7777
Email: RealEstate@Oltersdorf.com
Oltersdorf Realty, LLC
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Email: RealEstate@Oltersdorf.com
(231)271-7777
Are you thinking about trying to sell your house by owner in Traverse City – Leelanau County – or the Grand Traverse Area? Financial guru Dave Ramsey explains why he doesn’t recommend selling your home buy owner. Check out his podcast here:
http://www.daveramsey.com/index.cfm?event=askdave/&intContentItemId=118273
If you are considering selling your home by owner, what do you have to lose by contacting Oltersdorf Realty LLC? We would be more than happy to sit down with you for a no obligation presentation on what our marketing campaign can do for you. Study after study has proven that a high volume full time professional can sell your property faster and for more money than you can FSBO (for sale by owner). Oltersdorf Realty, LLC continues to be ranked in the top 1% of all Traverse City Area Association of Realtors year after year. No one has a more detailed and complete marketing strategy aimed at reaching the highest number of potential home buyers. Experience counts!
If you are determined to only sell your home or property yourself, please contact us to let us know that you have put your real estate on the market! We are constantly in contact with potential buyers and our goal is always to find our clients the right home, including houses and property for sale by owner!
Oltersdorf Realty, LLC
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E-mail: realestate@oltersdorf.com
Phone: 231-271-7777
On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (H.R. 4853) extending the Bush-era tax rates and a host of other expired and expiring provisions. The legislation is not "paid for," so there are no revenue raisers taken from real estate or other industry groups. The package provides temporary extensions of its numerous provisions. Some are retroactive, as well, so that the rules that had been in place previously will operate as if they had never expired.
Included in the bill are provisions that affect real estate investment and operations—such as energy-efficiency tax credits, capital gains, and more. A few key provisions of interest to REALTORS® include:
•• Retention of Bush-era tax brackets through the 2011 and 2012 tax years;
•• Retention of the capital gains tax rate of 15 percent for assets sold or disposed of during 2011 and 2012;
•• Reduction of payroll taxes for employees and self-employed individuals during 2011;
•• Extension of numerous energy efficiency credits through December 31, 2011, including: the Energy Efficient New Homes, Energy Efficient Existing Homes, and Energy Efficient Buildings credits.
Read a summary of the real-estate provisions in the tax bill > (PDF: 222K)
Source:http://www.realtor.org/government_affairs/bush_tax_cut_extension
Copyright National Association of REALTORS®. Reprinted with permission.
The Leelanau Conservancy has put together a fantastic video highlighting their 2010 accomplishments as well as showcasing the beautiful scenery that surrounds Leelanau County, Michigan! Thank you to all of the volunteers that reside in Cedar, Empire, Glen Arbor, Lake Leelanau, Leland, Maple City, Northport, Omena, Peshawbestown, and Suttons Bay!
Oltersdorf Realty, LLC
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231-271-7777
4252 Eagle Vale - Traverse City Condo - SOLD 12-15-10
223 S Elm St, Suttons Bay - SOLD 12-1-10
892 Bay Cliff Dr, Suttons Bay Condo - SOLD 11-30-10
A beautiful house that we sold on East Bay last month was featured as the Wall Street Journal's "House of the day" over the summer. You can view the slideshow by clicking HERE!
I will have the year end 2010 sales statistics for you within the first couple of weeks of 2011. It appears that sales volume and the number of houses sold during 2010 will be well above 2009 values. Please check back often!
UPDATE 12/27/10: On December 22nd, 2010, Governor Granholm VETOED supported legislation aimed at getting the housing market moving. Senate bill 77, which passed both the House and Senate in the last days of the 2010 session, allowed foreclosed properties to retain their principal residence exemption for a period of up to 3 years.
The Michigan Association of Realtors has recently posted a podcast discussing the potential outcome of Senate Bill 77 known as the “General Property Tax Act”. This bill could potentially extend the homestead exemption deadline from May 1 to a later date in the year. If you are planning on purchasing a primary home in Leelanau County or Grand Traverse County - Traverse City after May 1, 2011 you definitely should keep your eye on the outcome of this bill! I have also touched on this bill in a previous post found HERE and highlighted below.
"Currently, if you purchase a home in Michigan after May 1st and the house is currently not considered a “primary residence” the property taxes for the entire year will be based on the non-homestead tax rate which can be up to 18 mills higher. This would extend the deadline to October 1st which is great news for home buyers who purchase throughout the summer and intend to use the house as their primary residence if the seller is not currently taking advantage of the principal homestead exemption. "
-Jonathan Oltersdorf-
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231-271-7777
Below is the apportionment chart provided by the Grand Traverse County – Traverse City Equalization Department showing anticipated 2011 millage rates. This is the chart that is used to figure your estimated 2011 tax bill. In late February all Grand Traverse County – Traverse City property owners will be mailed their new notice of assessment informing them of their updated 2011 State Equalized Value and Taxable Value on their property. Have you ever wondered what your property taxes would be if you lived in another township, or if you switched your homestead status to your non-primary home? The chart below is extremely helpful in comparing property taxes in all Grand Traverse County Townships whether you are in the City of Traverse City or Long Lake Township, etc. You can download the PDF by clicking HERE or on the image below. To figure your estimated tax bill, take your taxable value from your notice of assessment (or approximate house value divided by 2) and multiply it by your township millage rate on the chart (make sure you have the correct school district and homestead status).
For Example – Downtown Traverse City primary home with a Taxable Value of $100,000 (house value of $200,000)
$100,000 * (0.0365063) = A yearly tax bill of $3,651
Note: Compared to 2010 property tax rates this home owner will save $120.00. Proposed millage rates will be 3.5% lower in the City of Traverse City.
DOWNLOAD THE CHART BELOW BY CLICKING HERE
http://www.oltersdorf.com
231-271-7777
Below is the apportionment chart provided by the Leelanau County Equalization Department showing anticipated 2011 millage rates (this chart was amended November, 2010). This is the chart that is used to figure your estimated 2011 tax bill. In late February 2011 all Leelanau County property owners will be mailed their new notice of assessment informing them of their updated 2011 State Equalized Value and Taxable Value on their property. Have you ever wondered what your property taxes would be if you lived in another township, or if you switched your homestead status to your non-primary home? The chart below is extremely helpful in comparing property taxes in all Leelanau County Townships whether you are in Suttons Bay Township, Leelanau Township, Leland, Bingham, Elmwood etc. You can download the PDF by clicking HERE or on the image below. To figure your estimated tax bill, take your taxable value from your notice of assessment (or approximate house value divided by 2) and multiply it by your township millage rate on the chart divided by 1000 (make sure you have the correct school district and homestead status).
For Example – Suttons Bay Township primary home with a Taxable Value of $150,000 (house value of $300,000)
150,000 * (21.0567/1000) = A yearly tax bill of $3,158
DOWNLOAD THE CHART BELOW HERE 
231-271-7777
I have calculated the updated 2010 home sales data for Traverse City / Grand Traverse County and have posted the information below. The sales statistics compare housing sold in Grand Traverse County from January 1, 2010 through September 30, 2010 to the same time period in 2009 and 2008. 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. As you will see in the data below, the number of homes sold is up over 12% in 2010 compared to the same time in 2009. Home sales volume in Grand Traverse County is up 18% this year over 2009. Average sales price and median sales price also have increased 5.6% and 13% over last year to date. We are seeing the same trend for home sales within Leelanau County as well. Overall it has been a busy year for real estate in the Grand Traverse Region.
This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2008-2010. 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.
I have calculated the updated 2010 home sales data for Leelanau County and have posted the information below in several charts. The sales statistics compare housing sold in Leelanau County from January 1, 2010 through September, 2010 to the same time period in 2009 and 2008. 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 Leelanau County. As expected home sales are well ahead of 2009’s numbers and current record low interest rates aren’t hurting as we transition into the end of fall. In Leelanau County the number of homes sold has increased 6.3% in 2010 over 2009. Median sale price and average sales price has increased in 2010 over last year’s values 5.6% and 13% respectfully. Sales volume remains ahead of last year’s pace with an increase of 12.2% to date. Grand Traverse County and Traverse City has been seeing a large increase in real estate sales during 2010 as well.
This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2008-2010. 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.