State of the Real Estate Market - 2007 Part 4

Part 4 of 4

Hello everyone,

We've been talking about the current state of the real estate market here in Traverse City, and in the surrounding Grand Traverse area.

Finally, sellers, you may be growing tired of reading it, but buyers pretty much have it made in Northern Michigan. Not only are they buyers in a buyerís market in GODís country, but they have a State of Michigan-guaranteed right to representation by licensed Realtors when buying in Michigan, and get this: itís FREE. Hands-down the best thing going in the Grand Traverse area real estate market is the fact that buyers are entitled to representation by the top real estate agents of their choice for free.

It doesnít cost them a dime.

Nada.

Zilch.

Sellers traditionally pay real estate commissions, which are then divided between sellerís agents, sellerís broker, buyerís agents, buyerís broker, etc., but none of those commission monies come out of the buyerís pockets through the course of a real estate transaction. I know, it sounds too good to be true but itís not. (Weíll delve deeper into this topic when TEAM MIKE covers Real Estate Agency in Michigan in an upcoming blog.)

Suffice it to say, it would be foolish to pass up all of the benefits, inside knowledge, experience, objectivity, and savvy of the top local Realtors of your choice for free. It would be analogous to trying to represent yourself in a court of law against the other side and their professional representation, when you could pick any representative you wanted for free.

Like we said, itís the best thing going!

In summary, while the Grand Traverse area real estate market presents particular challenges for property sellers at present, as it does nationwide, buyers enjoy historically happy hunting in todayís buyerís market. Flipping, speculating, and get-rich-quick-via-real-estate-schemes are going to be extremely difficult until inventories fall back in line with demand, and many of the factors buyers currently enjoy ease.

If you have the option of waiting out the ìsoftî sellerís market as a seller, you may want to do so. If not, utilize the expertise of the absolute best Realtors you can find to maximize your return on your real estate investment, and the speed and ease with which you can successfully market and sell your property.

For most Americans, our homes are our largest financial asset. If you are in the market to buy property in the Grand Traverse area, free real estate agent representation anywhere in Michigan and outstanding buyerís market conditions suggest there is no time like today to fulfill your dream of owning a piece of heavenly Northern Michigan.

As always, please feel free to respond directly to this blog by leaving a comment or question below, or you can email TEAM MIKE directly at MikeGaines@C21Northland.com or Mike.Annelin@C21Northland.com and we will happily address your inquiries.

Warmest regards,


TEAM MIKE


Last Updated: October 21, 2007