441 S Nanagosa Trail, Suttons Bay - SOLD

 

SOLD SUTTONS BAY WATERFRONT HOME

441 S Nanagosa Trail, Suttons Bay, MI - 100' on West Grand Traverse Bay
LISTING SOLD by Oltersdorf Realty, LLC on 10/3/2012
Asking Price: $449,000

Rare Leelanau County Modern Design. This private direct waterfront home features 2574 finished sq ft, 3 bedrooms and 2.5 baths. The unique 2 story great room with floor to ceiling windows and brick fireplace provides an open concept entertainment space between the kitchen, dining room, and living room with an abundance of natural light and West Bay views! Additional features include hardwood floors throughout both floors, private master bath, 2 car attached garage, full unfinished basement, and much more!

11255 E Fort Rd D-2, Suttons Bay - SOLD

SOLD FORT ROAD YORK CONDOMINIUM

11255 E Fort Rd D-2, Suttons Bay, MI 49682
SOLD by Oltersdorf Realty, LLC on 10/2/2012
Asking Price: $85,900

This affordable York Condominium unit offers 3 bedrooms, 2 baths, and 1300 square feet of living space located within central Leelanau County between Traverse City and Suttons Bay. Unit needs updating and can easily be turned into a great low-maintenance condominium within Bingham Township!

776 N St Josephs St, Unit #4, Suttons Bay - SOLD

SOLD SUTTONS BAY WATERFRONT CONDOMINIUM

776 N St Josesphs St, Unit #4, Suttons Bay, MI
Suttons Bay Yacht Club
LISTING SOLD by Oltersdorf Realty, LLC on 9/28/2012
Asking Price: $394,000

This beautifully remodeled 1850 sq ft direct waterfront condominium enjoys expansive water views from every room, 2 story living area with tongue & groove wood ceilings, 3 large bedrooms and 3 ceramic tiled full baths! Extensive updates include: paint, flooring, countertops, draperies & blinds, fixtures, fieldstone fireplace, newer patio doors and mechanicals!  Established community offering 1400 ft of sandy beach frontage on Suttons Bay / West Grand Traverse Bay, pool with water views, tennis courts, and more!

Mortgage Rates September 2012

Mortgage Rates Fall Back to Record Lows

Daily Real Estate News

Fixed-rate mortgages are back at all-time record lows or hovering near them, Freddie Mac reports in its weekly mortgage market survey. For those who can qualify for a loan, the ultra-low mortgage rates are pushing housing affordability higher. 

"Following the Federal Reserve's announcement of a new bond purchase plan, yields on mortgage-backed securities fell, bringing average fixed mortgage rates to their all-time record lows, which should aid in the ongoing housing recovery,” says Frank Nothaft, Freddie Mac’s chief economist. 

Here’s a closer look at the national averages with mortgage rates for the week ending Sept. 20:

  • 30-year fixed-rate mortgages: averaged 3.49 percent, with an average 0.6 point, matching its all-time low. A year ago at this time, 30-year rates averaged 4.09 percent. 
  • 15-year fixed-rate mortgages: averaged 2.77 percent, with an average 0.6 point, setting a new record low this week. Last year at this time, 15-year rates averaged 3.29 percent. 
  • 5-year adjustable-rate mortgages: averaged 2.76 percent, with an average 0.6 point, rising from last week’s 2.72 percent average. Last year at this time, 5-year ARMs averaged 3.02 percent. 
  • 1-year ARMs: averaged 2.61 percent this week, with an average 0.4 point, holding the same as last week. A year ago, 1-year ARMs averaged 2.82 percent. 

Source: Freddie Mac
Source: RealtorMag

Copyright National Association of REALTORS®. Reprinted with permission.

5331 N Liberty Dr, Traverse City - SOLD

SOLD TRAVERSE CITY HOME

5331 N Liberty Dr, Traverse City
LISTING SOLD by Oltersdorf Realty, LLC on 9/26/2012
Asking Price: $298,000

This immaculately maintained family home enjoys a wonderfully landscaped private lot with extensive perennial gardens and sprinkling system, specious living area with a gas fireplace, informal and formal dining areas, main level den, and an entertainer’s kitchen with a large island, granite countertops and stainless appliances!  Additional features include 5 bedrooms, 3.5 baths, hardwood flooring, 3400 sq ft of living area, front and rear decks and oversized heated garage!  A great location only minutes from downtown Traverse City and lower township property taxes! 

Health Care Reform

Health Care Reform
Top 10 Things You Need to Know About the 3.8% Real Estate Tax

  1. When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will not be subject to this tax.
  2. The 3.8% tax will never be collected as a transfer tax on real estate of any type, so you’ll never pay this tax at the time that you purchase a home or other investment property.
  3. You’ll never pay this tax at settlement when you sell your home or investment property. Any capital gain you realize at settlement is just one component of that year’s gross income.
  4. If you sell your principal residence, you will still receive the full benefit of the $250,000 (single tax return)/$500,000 (married filing joint tax return) exclusion on the sale of that home. If your capital gain is greater than these amounts, then you will include any gain above these amounts as income on your Form 1040 tax return. Even then, if your total income (including this taxable portion of gain on your residence) is less than the $200,000/$250,000 amounts, you will not pay this tax. If your total income is more than these amounts, a formula will protect some portion of your investment.
  5. The tax applies to other types of investment income, not just real estate. If your income is more than the $200,000/$250,000 amount, then the tax formula will be applied to capital gains, interest income, dividend income and net rents (i.e., rents after expenses).
  6. The tax goes into effect in 2013. If you have investment income in 2013, you won’t pay the 3.8% tax until you file your 2013 Form 1040 tax return in 2014. The 3.8% tax for any later year will be paid in the following calendar year when the tax returns are filed.
  7. In any particular year, if you have no income from capital gains, rents, interest or dividends, you’ll never pay this tax, even if you have millions of dollars of other types of income.
  8. The formula that determines the amount of 3.8% tax due will always protect $200,000 ($250,000 on a joint return) of your income from any burden of the 3.8% tax. For example, if you are single and have a total of $201,000 income, the 3.8% tax would never be imposed on more than $1,000.
  9. It’s true that investment income from rents on an investment property could be subject to the 3.8% tax. But: The only rental income that would be included in your gross income and therefore possibly subject to the tax is net rental income: gross rents minus expenses like depreciation, interest, property tax, maintenance and utilities.
  10. The tax was enacted along with the health care legislation in 2010. It was added to the package just hours before the final vote and without review. The National Association of Realtors strongly opposed the tax at the time, and remains hopeful that it will not go into effect. The tax will no doubt be debated during the upcoming tax reform debates in 2013.

You can download a comprehensive 10 page brochure here: http://www.ksefocus.com/billdatabase/clientfiles/172/8/1437.pdf

Source:http://www.realtor.org/topics/health-care-reform/top-10-things-you-need-to-know-about-the-38-tax
Copyright National Association of REALTORS®. Reprinted with permission.

S Knorr Dr, Suttons Bay, Leelanau County - SOLD

SOLD SUTTONS BAY WATERRONT PROPERTY

S Knorr Dr, Suttons Bay, MI - 134' on West Grand Traverse Bay
LISTED AND SOLD by Oltersdorf Realty, LLC on 9/21/2012
Asking Price: $249,000

Vacant waterfront parcel located on desirable Stony Point Peninsula in a fantastic area of quality waterfront homes. This direct waterfront lot offers 134 feet of private frontage on West Grand Traverse Bay on a quiet dead-end paved road within minutes of the charming year round Village of Suttons Bay. Sellers have installed stone erosion control system.

13420 S Cedar Rd, Cedar - SOLD

SOLD CEDAR HOME

13420 S Cedar Rd, Cedar, MI - HUD owned foreclosure!
SOLD by Oltersdorf Realty, LLC on 9/24/2012
Asking Price: $106,260

   

Extremely affordable HUD owned foreclosure close to Traverse City! This 3 bedroom, 2 bath ranch home is situated on 10.00 acres and features 1092 finished sq ft, full unfinished basement, 2 car attached garage and an open floor plan! Fantastic Leelanau County location only a short drive to Traverse City!

Photos courtesy of Traverse Area Association of Realtors.

E Smiseth Rd, Suttons Bay - 4.997 Acres - SOLD

SOLD SUTTONS BAY ACREAGE

E Smiseth Rd, Suttons Bay - 4.997 Acres
LISTED AND SOLD by Oltersdorf Realty, LLC on 9/24/2012
Asking Price: $25,000

Rare Acreage Opportunity! This affordable 4.997 acre 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! Property being sold as-is, buyer to pay for road extension to allow vehicle access. Great Leelanau County location near public water access and the Village of Suttons Bay!

5549 N Manitou Trail - Leland Township - SOLD

SOLD LELAND TOWNSHIP HOME

5549 N Manitou Trail, Northport, MI - Leland Township- Bank Owned Foreclosure
LISTED AND SOLD by Oltersdorf Realty, LLC on 9/18/2012
Asking Price: $60,000

Looking for an “Up North” retreat to get away from it all? This rustic getaway offers 836 sq ft of living area, 2 bedrooms, nice size living, dining and kitchen areas and a garden shed! The property includes ~2.0 acres of wooded acreage and ~220 feet of private Houdek’s Creek frontage surrounded by 200+ acres of land in conservancy! A nature lover’s paradise, enjoy hunting and fishing right outside your own back door! Located on a paved county maintained road within Leland Township!

2454 S Sandy Beach Rd, Lake Leelanau - SOLD

SOLD SOUTH LAKE LEELANAU WATERFRONT HOME

2454 S Sandy Beach Rd, Lake Leelanau - 100' on South Lake Leelanau
LISTING SOLD by Oltersdorf Realty, LLC on 9/7/2012
Asking Price: $495,000

This extensively remodeled spacious home enjoys beautiful sunsets and gradually sloping sugar sand frontage on S Lake Leelanau! The wonderful open and flowing plan of this home features vaulted ceilings, a newer kitchen with quality glazed maple cabinetry and accent lighting, ceramic and wood engineered flooring, updated ceramic tiled baths, newer windows and doors, trex decking, 8 zone u/g sprinkling system and a wonderful waterside covered porch! Includes adjoining back-lot with drain field system!

419 E Nanagosa Ct, Suttons Bay - SOLD

SOLD SUTTONS BAY HOME

419 E Nanagosa Ct, Suttons Bay, MI - Near Water Access
LISTING SOLD by Oltersdorf Realty, LLC on 9/7/2012
Asking Price: $79,000

If you are handy, this listing offers you a rare opportunity to purchase a very affordable home located in a in a great neighborhood of quality homes within walking distance to a beautiful waterfront park and less than a 5 minute drive to the Village. Home features include 1468 sq ft of current living area and a walk out lower level with 987 unfinished sq ft, 3 bedrooms, 1.75 baths, a 290 sq ft covered porch and a 2 car garage! Home being sold “as is” and will require completion!

4498 Buteo Drive, Lot #35, Grayhawk, Traverse City - SOLD

SOLD TRAVERSE CITY WATERVIEW VACANT PARCEL

4498 Buteo Drive, Lot #35, Grayhawk, Traverse City, MI 49684 ο»Ώ
LISTING SOLD by Oltersdorf Realty, LLC on 9/6/2012
Asking Price: $189,000

 

Unobstructed views of Old Mission Peninsula and East and West Bays are enjoyed from this exceptional building site located within minutes of downtown Traverse City and Munson Medical Center. Amenities include: a quiet cul-de-sac location, frontage on a paved private road, private association restrictions to assure construction of quality homes, city sewer and water access and lower Township taxes!

1082 S Bay View Trail, Suttons Bay - SOLD

SOLD SUTTONS BAY HOME

1082 S Bay View Trail, Suttons Bay, MI - Shared West Bay Water Access
SOLD by Oltersdorf Realty, LLC on 9/5/2012
Asking Price: $385,000

Wonderful 3 bedroom, 2.5 bath newer home on a 1.00 acre lot on Stony Point Peninsula within a short drive of the charming Village of Suttons Bay. This ranch home features 3200+ finished sq ft with a walkout lower level, professionally landscaped low maintenance yard, extra deep garage, and extremely high quality finishing’s throughout, 3 seasons screened in porch, and more! Close to 182 feet of shared water frontage on West Grand Traverse Bay.

Photos courtesy of Traverse Area Association of Realtors.

4242 Deerfield Ln, Traverse City - SOLD

SOLD TRAVERSE CITY HOME

4242 Deerfield Ln, Traverse City, MI - Near Downtown Traverse City
LISTING SOLD by Oltersdorf Realty, LLC on 8/29/2012
Asking Price: $145,000

Fantastic location just outside the city limits and only minutes to downtown Traverse City! This move-in ready home features over 1500+ square feet of finished living space, 3 bedrooms, 1.75 baths, open kitchen & dining area, main floor & lower level living rooms, large deck, landscaped grounds with underground sprinkler system, 2 car attached garage, garden shed, and is situated in the middle of a 0.50 acre double lot! Recent updates include: roof, natural gas furnace with A/C, vinyl siding, and more!

10481 S Tower Rd, Maple City - SOLD

SOLD MAPLE CITY HOME

10481 S Tower Rd, Maple City, MI
LISTING SOLD by Oltersdorf Realty, LLC on 8/22/2012
Asking Price: $117,000

This charming 1460+ square foot 4 bedroom, 1.75 bath home is located on 2 wonderful acres enjoying beautiful countryside views! Home features include: a main floor living room and a lower level family room, ceramic tile and hardwood flooring, oak kitchen cabinetry, newer mechanicals and appliances, low maintenance vinyl siding, a garden storage shed and an extra deep 2+ car garage. A great central Leelanau County location within 20 minutes of downtown Traverse City and only 6 miles to Glen Lake Schools!

Leelanau County Waterfront Sales Data - 2012

This article has been updated in a more recent post that can be found by clicking here: /blog/2013/1/15/2012-leelanau-county-waterfront-home-sales-data-year-end.html

How are waterfront home sales in Leelanau County doing in 2012 compared to previous years? The simple answer is: unbelievably well. The home sales statistics above compare waterfront real estate homes sold in Leelanau County from January 1, 2012 through July 31, 2012 to the same time period in 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. Waterfront home sales that were included in the data are any single family home with private direct frontage or private across the road frontage. Houses located on ponds, creeks, or with shared frontage were not included.

So far this year in all of Leelanau County we have experienced a 92% increase in waterfront home sales dollar volume and over 65% increase in total waterfront homes sold compared to this time in 2011!

To view my previous post on July 18, 2012 covering all Leelanau County home sales data please CLICK HERE.

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2010-2012. 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

Grand Traverse County Waterfront Sales Data - 2012

This article has been updated with final 2012 figures in a more recent post found by clicking here: /blog/2013/1/15/2012-grand-traverse-county-waterfront-home-sales-data-year-e.html

 

Almost every day we get asked how waterfront home sales in Grand Traverse County and Traverse City are doing in 2012 compared to previous years.  Lately the answer has been FANTASTIC! The home sales statistics above compare waterfront real estate homes sold in Grand Traverse County from January 1, 2012 through July 31, 2012 to the same time period in 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. Waterfront home sales that were included in the data are any single family home with private direct frontage or private across the road frontage. Houses located on ponds, creeks, or with shared frontage were not included.

So far this year in Grand Traverse County we have experienced a 30% increase in waterfront home sales dollar volume and over 35% increase in total waterfront homes sold compared to this time in 2011!

Click Here for: Updated 2012 Grand Traverse Home Sales Data - Posted October 2012

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2010-2012. 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

4093 S West-Bay Shore Dr, Suttons Bay - NEW LISTING

NEW LISTING

$465,000 - 4093 S West-Bay Shore Dr, Suttons Bay, MI - 100' on West Grand Traverse Bay

One level living is enjoyed with this ranch home located in a park like setting with a gentle slope to the water's edge and 100 feet of private direct frontage on West Grand Traverse Bay. Features include newer quality cherry kitchen cabinetry, 3 bedrooms, 2.5 baths, 2 fireplaces, attached 2 car garage, newer vinyl siding, and a fully finished walkout lower level with water views, remodeled bath, wet bar, and attractive maple accents! Great location only a quick drive to all of the amenities of Traverse City!

PLEASE CLICK HERE FOR ADDITIONAL INFORMATION ON THIS NEW LISTING

August 2012 Single Family Home Supply

Single Family Home Supply Continues to Decline

LEELANAU COUNTY


GRAND TRAVERSE COUNTY


DOWNTOWN TRAVERSE CITY

As mentioned in my previous post in April, 2012 , Leelanau County, Grand Traverse County, and downtown Traverse City single family home supply continues its decline through August 2012. Although we are without a doubt still in a "buyers market", the decreasing supply of homes combined with increasing sales volume and units sold in both Leelanau County and Grand Traverse County is leading towards a slow shift away from a complete buyers market in Northern Michigan. You can see my previous posts on complete 2012 year-to-date sales data here: 2012 Grand Traverse County Home Sales Data & 2012 Leelanau County Home Sales Data

Click Here for: Updated 2012 Grand Traverse Home Sales Data - Posted October 2012

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