407 W Tenth St, Traverse City - SOLD

 

SOLD DOWNTOWN TRAVERSE CITY HOME

407 W Tenth St, Traverse City - Central Neighborhood
 LISTED & SOLD by Oltersdorf Realty, LLC on 4/8/2014
Asking Price: $214,500

This is the location that you have been waiting for! Home features include a beautiful stone covered front porch, an efficient open floor plan, original refinished hardwood floors throughout, 3 bedrooms plus a full bath upstairs (3rd bedroom is non-conforming), and a convenient main floor ½ bath. Spacious main floor laundry room offers access to the fenced rear yard, 1 car detached garage, and both alley and Tenth St driveway access. Close to downtown shopping, restaurants, beaches, and more. Move-in condition with charm and curb appeal. Hurry!

1575 Westbriar, Traverse City – SOLD

SOLD TRAVERSE CITY HOME

1575 Westbriar, Traverse City - East Bay Ranch Home
 SOLD by Oltersdorf Realty, LLC on 4/2/2014
Asking Price: $147,900

Completely remodeled ranch from top to bottom! This 4 bedroom, 2 bath home features new carpet, flooring, trim, paint, hardware, appliances, newly finished basement, one car garage, and a huge back yard! Great spot located on Traverse City’s east side and best of all move-in ready! First time home buyers!

1679 Pergola Avenue, Traverse City - FOR SALE

SOLD TRAVERSE CITY HOME

1679 Pergola Avenue, Traverse City - East Bay Custom Home
 SOLD by Oltersdorf Realty, LLC on 2/26/2014
Asking Price: $279,500

 

Beautiful custom East Bay home offering efficient open floor plan design and green built technology. Home features include over 2400 finished sq ft, 4 bedrooms & 4 baths, bamboo hardwood flooring throughout, 2 private master suites, steam shower, tankless hot water, attached garage, and partially finished basement.  

Photos courtesy of the Traverse Area Association of Realtors

3034 Zimmerman Road, Traverse City - SOLD

SOLD TRAVERSE CITY HOME

3034 Zimmerman Road, Traverse City - West Side Ranch
 SOLD by Oltersdorf Realty, LLC on 2/20/2014
Asking Price: $169,900

 

 West side ranch! This recently updated 3 bedroom, 2.5 bath ranch offers an open layout, new kitchen cabinets and countertops, updated bathrooms, fully finished basement, 3 car attached garage, newer metal roof, and a private rear yard only minutes to downtown Traverse City!

Photos courtesy of the Traverse Area Association of Realtors

2013 Leelanau County Home Sales

 

 

The 2013 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, 2013 through December 31, 2013 to the same time period in 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.

2013 Leelanau County Home Sales Volume has increased +22.12% over 2012's record setting figures and +11.87% over 2012's total houses sold.

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2010-2013. 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

2013 Grand Traverse County & Traverse City Home Sales

 

 

The 2013 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, 2013 through December 31, 2013 to the same time period in 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.

2013 Grand Traverse County Home Sales Volume has increased +10.27% over 2012's record setting figures and +8.10% over 2012's total houses sold.

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2010-2013. 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

3816 S Lee Point Road, Suttons Bay - SOLD

SOLD SUTTONS BAY WATERFRONT COTTAGE

3816 S Lee Point Road, Suttons Bay, MI - Sandy 386' on West Bay
 SOLD by Oltersdorf Realty, LLC on 2/17/2014
Asking Price: $300,000

Lee Point Road is one of the rare locations in Leelanau County with a south facing waterfront beach! This 2 bedroom, 1.5 bath cottage offers 364 feet of shared sugar sand beachfront on West Grand Traverse Bay with a total of 7 other cottages. Convenient Leelanau County location only minutes to Traverse City or to Suttons Bay. The association allows for weekly rentals.

Photos courtesy of the Traverse Area Association of Realtors & beach photos by Oltersdorf Realty,LLC

2013 Leelanau County Building Permits

2013 Leelanau County Building Permits

The Leelanau County Building Department is reporting that 456 permits were issued in 2013 at an estimated value of $42,892,808. This is the highest amount of estimated value and total permits issued since 2008!

Below you will find a chart totaling permits and estimated values of construction within Leelanau County from 2009-2013!

Oltersdorf Realty, LLC
http://www.Oltersdorf.com
Phone: 231-271-7777
E-mail: realestate@oltersdorf.com

Top 5 2013 Traverse City Home Sales By Neighborhood

Top 5 2013 Traverse City Home Sales By Neighborhood

If you are new to Traverse City or do not live downtown you might not know that the downtown area of the City of Traverse City is informally divided into 8 neighborhoods. The neighborhoods are Downtown District, Traverse Heights, Boardman, Central, Kids Creek, Oak Park, Old Town, and Slab Town. You can click  map below to get a closer look. If that map is hard for you to read there are larger photos of each neighborhood below.

 

Today we are going to look at the top 5 residential sales within each neighborhood that sold in 2013! Please keep in mind these are only sales that were placed into the MLS, I know that there are likely higher unreported sales in each of the neighborhoods.

Slabtown Neighborhood (I live here)
As stated above only reported sales will be listed. I do know of several unreported sales including a sale on Monroe Street for $775,000 (wow!)
1) 1780 Wayne St –$541,000, 4 bedroom, 3.5 bath, 3396 sq feet.
2) 616 Monroe St –$330,000, 4 bedroom, 4 bath, 3365 sq ft
3) 621 N Madison St – $320,000, 4 bedroom, 2 bath, 3000 sq ft
4) 1222 Willow St - $300,000, 3 bedroom, 2.5 bath, 1813 sq ft
5) 601 N Madison Ave - $237,500, 4 bedroom, 1 bath, 1444 sq ft


Kids Creek Neighborhood
1) 219 S Spruce - $392,500, 4 bedroom, 4 bath, 2294 sq ft
2) 213 S Elmwood Ave -$325,000, 4 bedroom, 3 bath, 2213 sq ft
3) 810 Cottageview Dr - $270,000, 1 bedroom, 1.5 bath, 1065 sq ft
4) 1031 W Front St - $237,500, 3 bedroom, 1.5 bath, 1923 sq ft
5) 120 S Spruce St - $215,000, 4 bedroom, 1 bath, 1530 sq ft


Central Neighborhood
1) 605 Sixth St - $625,000, 4 bedroom, 3 bath, 3833 sq ft
2) 213 Sixth St - $600,100, 4 bedroom, 2.5 bath, 3181 sq ft
3) 435 fifth St - $460,000, 4 bedroom, 2 bath, 2231 sq ft
4) 525 Sixth St - $379,500, 3 bedroom, 1.5 bath, 2248 sq ft
5) 427 Fifth St - $315,000 – 4 bedroom, 3 bath, 2397 sq ft



Old Town Neighborhood
1) 125 E Twelfth St - $300,000, 3 bedroom, 2 bath, 2675 sq ft
2) 618 S Union St - $276,000, 4 bedroom, 2 bath, 1753 sq ft
3) 134 E Ninth St - $255,000, 3 bedroom, 2 bath, 1700 sq ft
4) 201 E Tenth St - $244,500, 4 bedroom, 1.5 bath, 1997 sq ft
5) 1026 S Union St - $229,500, 3 bedroom, 1.5 bath, 1357 sq ft



Downtown District
1) 121 Rivers Edge Dr - $715,000, 2 bedroom, 2 bath, 2325 sq ft
2) 141 Rivers Edge Dr- $580,000, 2 bedroom, 3 bath, 1850 sq ft
3) 141 Rivers Edge - $572,500, 2 bedroom, 2.5 bath, 2173 sq ft
4) 285 Midtown Dr- $560,000, 3 bedroom, 2.5 bath, 2511 sq ft
5) 206 Boardman Ave - $375,000, 2 bedroom, 2.5 bath, 1750 sq ft



Boardman Neighborhood
1) 515 E State St- $425,000, 9 bedroom apartment building
2) 213 Franklin St- $314,000, 7 bedroom, 3 bath, 3000 sq ft
3) 414 Washington St- $299,000, 3 bedroom, 2 bath, 3072 sq ft
4) 544 E State St- $295,000, 4 bedroom, 0 bath, 2372 sq ft
5) 634 Washington St- $240,000, 3 bedroom, 2 bath, 1702 sq ft



Oak Park Neighborhood
1) 801 Washington St- $420,000, 4 bedroom, 1.5 bath, 2615 sq ft
2) 845 Washington St- $347,500, 4 bedroom, 2 bath, 2379 sq ft
3) 151 E Railroad Ave - $238,000, 2 bedroom, 2 bath, 1550 sq ft
4) 825 Washington St- $228,000, 3 bedroom, 1 bath, 1348 sq ft
5) 1045 Walnut St- $205,000, 4 bedroom, 2 bath, 1776 sq ft



Traverse Heights Neighborhood
1) 929 Lincoln St- $179,000, 3 bedroom, 2 bath, 1279 sq ft
2) 610 Fern St- $160,000, 3 bedroom, 1.5 bath, 1120 sq ft
3) 860 Kelley St- $150,000, 3 bedroom, 2 bath, 1350 sq ft
4) 1035 Karla Lane- $149,000, 2 bedroom, 2.5 bath, 1224 sq ft
5) 931 Lincoln St- $145,000, 2 bedroom, 2 bath, 1345 sq ft

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service in 2013. 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

Flood Insurance Affordability Act

Flood Insurance Affordability Act

Own Waterfront Property in Grand Traverse County or Leelanau County? This could impact you!

Click here to contact your Michigan US Senator's office!

Daily Real Estate News | Wednesday, January 08, 2014

NAR President-elect Chris Polychron (far left) joins a bipartisan group of senators yesterday in support of a bill that would press the pause button on destabilizing changes to flood insurance premiums.

"This bill is going to come to the floor very, very soon," Sen. Chuck Schumer (D-N.Y.), a member of the Democratic Senate leadership, said yesterday at a press conference held on Capitol Hill. NAR President-elect Chris Polychron joined the senators on the podium to show NAR's support for the bill.

The bill is called the "Flood Insurance Affordability Act" (S. 1846), introduced by Sen. Robert Menendez (D-N.J.), and today has 28 sponsors from both parties. It would require the Federal Emergency Management Agency, which administers the federal flood insurance program, to stop implementing changes to premiums so it can investigate and report to Congress on the magnitude of these increases. FEMA has been phasing out longstanding premium subsidies to certain home owners and requiring premiums to rise to their actuarial level. But questions have been raised by lawmakers, industry groups, and consumers about the accuracy of the levels that are being set.

"People were paying $800 or $1,000 and now we’re talking about $10,000 or more," said Sen. Menendez at the press conference. "That’s simply unsustainable.”

The bill would also require FEMA to set up an advocate so consumers have a place to turn if they get stuck with confusing or overly high rate quotes and provide a process for the agency to start working with industry groups on a longer-term solution to the affordability problem.

NAR has been a major supporter of lawmakers' efforts to require a pause in the premium change, and close to 80,000 of its members have sent letters to their members of Congress in support of the bill. A companion bill in the House is also gaining strength, with about a third of House members signed on as cosponsors.

Watch the full C-SPAN video of the press conference.

The National Association of Realtors supported the Biggert-Waters Act but is now supporting a delay?

  • NAR continues to support the intent but the law has not been implemented as intended.
  • Biggert-Waters was supposed to end the uncertainty that had cost 40,000 home sales a month.
  • Yet, property owners across the nation are again facing foreclosure in the 20,000 communities where flood insurance is required for a mortgage.
  • The Federal Emergency Management Agency (FEMA) which administers the law:
    • FAILED to predict rate increases of this magnitude; during the debate, FEMA estimates ranged from several hundreds to thousands, not the tens of thousands we’re seeing.
    • FAILED to warn home buyers of rate shocks before purchasing their property; now, real estate agents are being forced to explain to former clients the lack of FEMA disclosures.
    • FAILED to train or hold accountable insurance agents who are issuing MANY rate quotes that can differ by tens of thousands, when there is only ONE actuarial rate per property.
    • FAILED to explain or provide property owners with a single point of contact to answer questions about the insurance rating errors and discrepancies.
    • FAILED to implement many parts of the law that could help (such as installment payments) while rushing forward with others that have shocked and awed.
    • FAILED to report to Congress on the affordability of these implementation decisions. 
  • For these reasons, NAR supports the Homeowner Flood Insurance Affordability Act to delay further implementation until FEMA follows and reports to Congress as required by the law.

Won’t delaying Biggert-Waters Act drive the NFIP back into debt?

  • NAR agrees that flood insurance rates should be actuarially sound. 
  • However, rushing unintentional rate shocks could cause another foreclosure crisis.
  • Due to insurance mistakes, property owners are being asked to pay more than their fair share.
  • If flood insurance becomes unaffordable and owners foreclose, FEMA would not be able to pay back the debt anyway.
  • Under the Homeowner Flood Insurance Affordability Act, it may take FEMA a few more years to pay the Treasury loan for Hurricanes like Katrina and Sandy, but taxpayers will continue to be compensated with interest.
  • In the meantime NFIP will continue to reduce the amount that taxpayers will have to spend on emergency disaster relief for underinsured properties after major floods.

The bill would simply delay but shouldn’t we fix the rates instead?

  • The rate increases took effect October 1, 2013, and every day we wait, compounds the impact.
  • NAR is working with Congress and FEMA on longer term solutions but we cannot afford to wait on the bipartisan, bicameral consensus.
  • Congress cannot address the problem until FEMA investigates and reports back on the cause(s).
  • The Homeowner Flood Insurance Affordability Act provides FEMA with additional resources to create an office of the Advocate to investigate the causes and respond to consumer questions.
  • The Act will delay the costliest increases until FEMA can investigate and report to Congress with affordability solutions.

Will the bill exclude second homes and commercial properties from the delay?

  • No.  The bill would delay the increase for purchase of ALL properties, including second homes and commercial properties.   ALL properties will be able to keep the grandfathered rate.
  • ALL buyers of any property will not see the rate increase for 4 years until FEMA reports to Congress with affordability solutions.
  • The existing owners of those properties will continue to see their rates capped at 25% per year.

Robert Freedman, REALTOR® Magazine
Source: http://realtormag.realtor.org/daily-news/2014/01/08/senators-boost-flood-insurance-time-out

Source: http://www.realtor.org/topics/national-flood-insurance-program-nfip/nar-issue-brief-homeowner-flood-insurance-affordability-act

Copyright National Association of REALTORS®. Reprinted with permission.

776 N Saint Joseph Street, Unit 2, Suttons Bay - SOLD

SOLD VILLAGE OF SUTTONS BAY CONDO

776 N Saint Joseph Street, Unit #2, Suttons Bay, MI - Suttons Bay Waterfront Condo
 LISTING SOLD by Oltersdorf Realty, LLC on 1/7/2014
Asking Price: $389,000

This waterfront condominium has been beautifully updated and decorated throughout and enjoys expansive bay views and direct frontage. Shared amenities include: gorgeous sugar sand beachfront, swimming pool, hot tub, tennis courts, amenities building, and professionally landscaped grounds! Interior updates include: new patio doors, solid surface countertops, bamboo hardwood flooring, carpeting, stainless steel appliances, remodeled baths, interior paint, door hardware, lighting, decking, the list goes on. Extraordinary maintenance-free Leelanau condominium!

5865 S Cummings St, Suttons Bay - SOLD

SOLD SUTTONS BAY WATERFRONT HOME

5865 S Cummings St, Suttons Bay, MI - 78' on West Grand Traverse Bay
 LISTED & SOLD by Oltersdorf Realty, LLC on 1/7/2014
Asking Price: $369,000

This charming waterfront home built in 2000 offers 78 feet of direct frontage on West Grand Traverse Bay conveniently located between Suttons Bay & Traverse City!  Home features include one floor living, an open living room/kitchen layout, beautiful custom stone gas fireplace, vaulted wood finished ceilings, 2 bedrooms and 2 ceramic tiled baths, a private den/office, waterside master suite with jet tub and walk in closet, 1212+ sq ft, a/c, finished 2 car attached garage, large waterside deck and more!  All on a paved low-traffic county maintained road!  

625 W Ninth St, Traverse City - SOLD

SOLD DOWNTOWN TRAVERSE CITY HOME

625 W Ninth Street, Traverse City - Affordable In-Town Home
 SOLD by Oltersdorf Realty, LLC on 12/27/2013
Asking Price: $149,500

This charming Central Neighborhood W Ninth Street home is located along one of downtown Traverse City’s best streets within walking & biking distance to downtown and to the Traverse City Commons! Home features include 2 bedrooms, hardwood floors, 165’ deep lot with alley access, and a detached garage. Updates are needed but are ready for your personal touch!  

Photos courtesy of the Traverse Area Association of Realtors

741 Indian Trail Boulevard #6, Traverse City - SOLD

SOLD DOWNTOWN TRAVERSE CITY CONDO

741 Indian Trail Boulevard #6, Traverse City - City of Traverse City Near Tom's East Bay
 LISTING SOLD by Oltersdorf Realty, LLC on 12/19/2013
Asking Price: $89,500

  

This beautifully renovated move-in ready Colonial Woods condominium is situated in a fantastic location close to downtown just behind Tom's East Bay! NEW upgrades include: stainless steel kitchen appliances including a convection oven, gorgeous granite kitchen countertops, bathroom vanity with a granite countertop and ceramic tile floors, fresh paint throughout, commercial grade laminate flooring and new bedroom carpeting, blinds, light fixtures, and more! 2nd floor unit offers increased privacy and security, private covered balcony, on-site laundry and basement storage area.  Close to medical facilities, grocery shopping, beaches, TART Trail, bus stop, and more! Association fee includes heat, water, sewer, garbage, exterior maintenance, and snow removal.

10554 N Shore Drive, Northport - SOLD

SOLD NORTHPORT BAY WATERFRONT HOME

10554 N Shore Drive, Northport - 65' of Sandy Beach on Northport Bay
 LISTING SOLD by Oltersdorf Realty, LLC on 12/3/2013
Asking Price: $349,000

   

This wonderful cottage offers 65 feet of beautiful sandy beach frontage on Northport Bay / Grand Traverse Bay! Home features include: one floor living, newer sunroom addition with tongue and groove cathedral ceilings, wonderful natural light, Bay Views, 3 bedrooms, 1.75 baths, open floor plan, 1590 sq feet of living area, ~24’ x ~18’ detached building, large waterside wrap around deck, and a convenient Village location within walking distance of downtown Northport!

206 Boardman Avenue Unit #7, Brownstones, Traverse City, MI - SOLD

SOLD DOWNTOWN TRAVERSE CITY CONDO

206 Boardman Avenue Unit #7, Traverse City, MI - Downtown Traverse City
 LISTING SOLD by Oltersdorf Realty, LLC on 11/25/2013
Asking Price: $389,000

Urban Traverse City living at its best! This attractive 1750 sq foot condominium is located downtown in a prime location within walking distance of all the amenities Traverse City has to offer! Enjoy the maintenance-free townhouse lifestyle from this units well designed open floor plan featuring 9’ ceilings and 8’ door heights, gas corner fireplace, wonderful kitchen with granite countertops and breakfast bar, wood flooring, two spacious master bedroom suites, private balcony and an extra deep 2 car attached garage!

8381 N Gills Pier Road, Northport - SOLD

SOLD LAKE MICHIGAN WATERFRONT HOME

8381 N Gills Pier Road, Northport, MI - 150' on Lake Michigan
 LISTING SOLD by Oltersdorf Realty, LLC on 11/20/2013
Asking Price: $1,090,000

Walk for miles along the sugar sand shores of Lake Michigan or relax and enjoy the panoramic sunset views of the Manitou and Fox Islands from within this home, from its many waterfront decks and private patios, or from your very own 150 feet of private Lake frontage! This remarkable home offers privacy, quality, comfort, and beautiful Lake views through-out its open living areas accented by wood and stone, cathedral ceilings, 5 fireplaces, maple cabinetry, granite countertops, hardwood and ceramic tile flooring, 4 private bedroom suites each with beautifully updated adjoining full baths, a private study, solid 6 panel interior doors, and walkout partially finished basement! Adjacent 6.44 acre natural preserve directly across the street assures privacy and tranquility!

9640 S W Bay Shore Dr, Traverse City - SOLD

SOLD TRAVERSE CITY WATERFRONT HOME

9640 S W Bay Shore Dr, Traverse City, MI - 101' on West Grand Traverse Bay
 LISTING SOLD by Oltersdorf Realty, LLC on 11/12/2013
Asking Price: $289,500

Located within minutes of downtown Traverse City this desirable Leelanau County home offers 101 feet of private West Bay water frontage with a sandy beach area and waterside deck! The beautifully updated move-in ready home features an open living room with a fireplace and vaulted ceilings, 3 bedrooms including a master suite, den, large kitchen/dining room for entertaining, and many recent updates that including Teak hardwood flooring, interior paint, appliances, furnace and A/C, hot tub, new carpeting and more! The private rear yard features an u/g sprinkler system, deck, balcony, and backs to woods!

3rd Qtr 2013 Leelanau County Home Sales Stats & Data

2013 Year-To-Date
Updated Leelanau County Home Sales Data

 


 

 The 2013 3rd Quarter Year-To-Date (January 1 – September 30) home sales data have been posted in the graphs above. The home sales statistics compare real estate housing sold in Leelanau County from January 1, 2013 through September 30, 2013 to the same time period in 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.

As you will notice in the housing sales data posted above, 2013 residential real estate sold in Leelanau County has increased significantly compared to this time period last year in terms of Total Units Sold (+15.95%) ,  Residential Sales Volume (+28.81%), Median Sale Price (+13.42%), & Average Sales Price (+11.08%) .

Check back in January, 2014 for the 2013 year-end real estate market statistics in Leelanau County.

This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2010-2013. 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