Northern Michigan Real Estate and Community News

Dec. 1, 2022

Top Trails and Hiking Places in Traverse City


Running down a hill is half the fun of climbing it, and there's always a reward at the top. So go after it and finish it. Vacation memories are formed by sweeping vistas, epic Lake Michigan views, and even quiet contemplative moments.

 

1. Pyramid Point Trail-Sleeping Bear Dunes

Pyramid Point Trail-Sleeping Bear Dunes

Address: Basch Rd, Glen Arbor, MI, 49636

Phone: (231) 326-5134

Website

Half a mile from the trailhead, the Pyramid Point Trail leads to a high, panoramic view of Lake Michigan. This is one of the best views of the waters of the Manitou Passage and the five-mile-offshore Manitou Islands. Return the way you came for a quick jaunt. Turn east from the dune overlook for a winding walk through meadows and hardwood forests for a longer hike with some extended uphill heart pumpers. To get to the trailhead, take M-22 to Port Oneida Road, which is located 3.7 miles north of Glen Arbor. Continue on Port Oneida Road until it meets Basch Road. To get to the trailhead, take Basch Road east. 

 

2. Sand Lakes Quiet Area

Sand Lakes Quiet Area

Address: Broomhead Rd., Williamsburg, MI, 49690

Website

The Sand Lakes Quiet Area, five small lakes surrounded by rolling hills of oak and pine, is a short drive from Traverse City but a world away. This 2,800-acre parcel is located in the Pere Marquette State Forest and has six-mile loop trails.

 

3. Keystone Rapids & Boardman Pond

Keystone Rapids & Boardman Pond

Address: 2500-2668 Beitner Rd, Traverse City, MI, 49685

Website

The trails at Keystone Rapids and Boardman Pond range from easy to difficult, with sections following the Boardman River through hardwood and evergreen forests.

 

4. Alligator Hill Trail-Sleeping Bear Dunes

Alligator Hill Trail-Sleeping Bear Dunes

Address: Stocking Rd, Empire, MI, 49630

Phone: (231) 326-5134

Website

The Alligator Hill Trail consists of three 2.5 to 3 mile loops, as well as a 0.8 mile spur trail off the first loop. These hilly trails traverse a beech-maple forest, brushy fields, and a pine plantation. Along the first loop, there is a view of Lake Michigan, and at the end of the spur trail, there is a view of Glen Lake. Both views are obstructed by trees. This trail is open to horses. Turn onto Day Farm Road from M-109, 1 mile north of the Dune Climb, to reach the trailhead. Turn left at Stocking Road or take Stocking Road south from M-109 just east of D.H. Campground .

 

5. Hickory Hills

Hickory Hills

Address: 2000 Randolph St, Traverse City, MI, 49686

Phone: (231) 947-8566

Website

Hickory Hills, operated by the City of Traverse City, is a great local ski area in the winter. The rest of the year, it provides hiking opportunities just a short distance from downtown, rewarding walkers with beautiful views of the surrounding area. A disc golf course is also located there.

 

Almost all the trails are accessible in the winter, but it’s always best to check ahead of time before heading out.

Posted in Community News
Nov. 30, 2022

Best Winter Activities In Traverse City

 

Top 5 Activities During Winter Season!

Snow is welcome in Traverse City! Winter outdoor recreation options abound in Traverse City. Skiers, snowmobilers, and snowshoe walkers can enjoy the region's gently sculpted environment, which was created 15,000 years ago by the last Ice Age glaciers that were retreating. Here is the list of the BEST activities to do during the winter season!

 

1. Snowmobiling

Snowmobilers like to head south and east of town to more than 200 miles of the country’s finest and most diverse snowmobiling. The Boardman Valley Trail, just minutes from downtown, is an 81-mile trail system in the Pere Marquette State Forest, where sightings of turkeys, eagles, deer and other wildlife are typical. The Jordan Valley Trail, about a half-hour to the northeast, is a network containing over 130 miles of magnificent trails not far from Shanty Creek and the charming community of Bellaire.

Snowmobiling

 

2. Skiing and Snowboarding

Shanty Creek Resorts, a 4,500-acre recreational complex in the beautiful Chain of Lakes region about 30 miles northeast of town, is undoubtedly our premier winter destination for skiers and snowboarders. Shanty's two ski areas, Schuss Mountain and Summit Mountain, offer 53 downhill slopes, six terrain parks, 30 kilometers of cross-country Nordic trails, and a multi-lane alpine tubing park.

Many other skiers and snowboarders have discovered the fun of staying closer to town, taking advantage of low lodging rates and a diverse range of shopping, dining, and entertainment options while skiing at TC's two day ski areas, Mt. Holiday and Hickory Hills.

Skiing and Snowboarding

 

3. Snow Tubing and Sledding or Fat Biking

Traverse City is also becoming a hub for fat biking, one of the newest winter sports. Fat bikes are specially-adapted mountain bikes with large tires that can ride over snow, and they've become a part of the local winter landscape in the last two years. When you're ready to hit the tracks, try the Vasa Pathways at Timber Ridge RV Resort.

You don't have to be an athlete to enjoy Traverse City's winter recreation. Many of us have discovered that snow tubing can provide a variety of thrills. Tubing has all of the thrilling speed of a toboggan or sled, but you get to sit in the middle of a big soft inner tube and ride down a groomed hill with people watching you. When you reach the bottom, a towline awaits to transport you back to the top so you can do it all over again.

Snow Tubing and Sledding or Fat Biking

 

4. Winter Vasal Trail

Looking for groomed fat-tire biking or cross-country skiing trails? The Vasa Pathway is comprised of a series of well-marked loops (3K, 5K, 10K, and 25K) that provide cross-country skiers, runners, hikers, mountain bikers, walkers, and naturalists with a range of easy to difficult challenges.

Fat-tire bikers can take advantage of the Winter Sports Single-track trail, a multi-use trail perfect for winter biking and outdoor recreation. Check out a grooming report to find the best conditions.

Winter Vasal Trail

 

5. Winter Zipline

A great winter activity is the zipline system at Mount Holiday, which allows you to soar through the air over the ski slopes. Its new 10-station zipline has a total length of more than 4,000 feet of cable, while its "Green Zipper" is a two-station zipline with the first leg of 288 feet and the second leg of 306 feet. Both of them require bookings in advance, and you must go with a group of at least four individuals.

Winter Zipline

 

 

Posted in Community News
Nov. 29, 2022

Best Hotels by the Beach in Traverse City

 

Top 4 Beach Front Hotels & Cottages in Traverse City 

There are a few options that are also on the inland lakes in the area, but the majority of the hotels with waterfront locations are in Traverse City along the Grandview Parkway. Please consider the choices listed 

 

1. Visit Up North Vacation Rentals

Up North Vacation Rentals

Address: 548 E Front St, Traverse City, MI, 49686

Phone: (231) 922-8922

Website

Visit Up North Vacation Rentals are eager to help you create the trip of your dreams. Make one of our holiday rentals your permanent residence. Located in Traverse City's downtown area.

They provide houses, apartments, cabins, and cottages all year long, with options ranging from affordable to opulent lodgings for families, couples, and even pets. Everything is ours. With over 150 properties, you may begin arranging your trip!

 

2. Island View Cottages

Island View Cottages

Address: 853 E Front St, Traverse City, MI, 49686

Phone: (231) 947-2863

Website

Want to take advantage of all that charming Traverse City has to offer while yet retaining its small-town charm? Visit Island View Cottages today and stay without further ado!  family-run cottages, which are conveniently situated on the lovely West Grand Traverse Bay, provide a private refuge hidden among the woods within a short 6–8 minute scenic stroll along the water to downtown and less than a half mile from the highly sought-after Old Mission Peninsula.

Experience a gentler era by staying in one of the retro cottages from the 1950s. These cottages, which are still in their original state, include various home comforts like fully functional kitchenettes, bed and bath linens, air conditioning, TV, and internet. All of the cottages are situated near one another and our 132' private beach. The group sizes they can accommodate in our 9 cottages and 3 large houses range from 2 to 10 in our largest property. You may even get a group together and book several residences! The prices range from $55 to $650.

 

3. Delamar Traverse City

Delamar Traverse City

Address: 615 E Front St, Traverse City, MI, 49686

Phone: (231) 947-3700

Website

A waterfront wedding and event location, Delamar Traverse City is a boutique hotel located on Lake Michigan's Grand Traverse Bay. Delamar Traverse City offers unrivaled views and experiences of Grand Traverse Bay and has 173 contemporary and comfortable guest rooms with floor-to-ceiling windows and indoor/outdoor event areas. The Delamar Resort provides numerous dining options on the property in addition to stunning views and first-rate service. These include the Bistro Cafe and Coffee Bar, seasonal outdoor dining on the Patio, drinks and snacks by the pool on the Pool Deck, and casual fine dining at Artisan Waterfront Restaurant and Tavern.

Other notable features of the Delamar include its closeness to downtown Traverse City and the Traverse Area Recreational Trail (TART) network, as well as its outdoor and indoor pools, hot tub, sauna, and well-designed fitness facility with Peloton bikes. Delamar Traverse City has the ideal blend of adventure and amenities. It is tucked away on West Bay along the shore of Lake Michigan.

 

4. Bayshore Resort

Bayshore Resort

Address: 833 E Front St, Traverse City, MI, 49686

Phone: (231) 935-4400

Website

Victorian-style hotel is tucked away on the shore of West Grand Traverse Bay and offers the best of everything you love about Traverse City: a fantastic waterfront location and easy access to the area's vibrant nightlife, shopping, and dining options. The majority of rooms include a private balcony or patio, and some even have fireplaces and spas. Enjoy the free WiFi, indoor pool, private beach, 24-hour fitness center, and arcade room that are all included with your stay. Smoke-free environment. For your upcoming conference in Traverse City, inquire about meeting space!

 

Watching the pattern of waves on water has a certain allure. The sea always makes for the ideal backdrop, whether it's the gentle morning glow or the entrancing spectacle of a sunset. It's much better when it's right outside your door!

 

Posted in Community News
Nov. 28, 2022

Day Trip Ideas In Traverse City


Planning a Day Trip In Traverse City?

Sweet home, at last! Our beautiful Traverse City is located in Grand Traverse County, which also offers a wide range of leisure and cultural activities. With these top destinations, start making travel plans!

 

Here's a List of What You Can Do

 

  • Morning meal time! One of the Village at Grand Traverse Commons' two delicious breakfast restaurants is a great way to start the day.

1. S2S Sugar 2 Salt

S2S Sugar 2 Salt


Address: 1371 Gray Dr, Ste 300, Traverse City, MI, 49684

Phone: (231) 409-8382

They provide the finest locally sourced, seasonally appropriate cuisine available in the area. They take great pride in what they do!

2. Red Spire Brunch House

Red Spire Brunch House

Address: 800 Cottageview Dr, Ste 30, Traverse City, MI, 49684

Phone: (231) 252-4648

The newest restaurant in the Village at Grand Traverse Commons, Red Spire Brunch House, serves traditional American fare all day long for breakfast and lunch.

 

  • Let's explore since you're at one of the most distinctive historical locations in the nation. The Hippie Tree can be seen on the trails that lead off from the Commons. —or explore the Mercato stores to discover the ideal memento. Take advantage of their excellent tours to learn more about the former asylum.


    The Hippie Tree

 

 

  • All right, get in the car; we're going to the Old Mission Peninsula. At Jolly Pumpkin, grab a bite to eat and a beer, or get sandwiches to go from Bad Dog Deli.
    Old Mansion Peninsula
    Old Mission Peninsula

     

  • At the tip of the peninsula, the Mission Point Lighthouse used to direct mariners home. Take a stroll along the Grand Traverse Bay beach, explore the lovely forested trails with magnificent vistas, or, for a nominal price, ascend to the top of the lighthouse.
    Mission Point Lighthouse
    Mission Point Lighthouse

     

  • A visit to one of the wineries is a must on any excursion along Old Mission. Choose from red, white, sparkling, and even cider bottles to find your new favorite!

  • It's time to unwind with a stroll down Front Street in Traverse City's downtown. Along with dozens of other shops, you'll find independent bookshops, hip boutiques, and the iconic M-22 store. Along the way, stop in for a happy hour beverage; Grand Traverse Distillery has a satellite tasting room, and 7 Monks has a great selection of regional beer.

    M-22 store
    M-22 Store

  • How do you pick a restaurant for dinner in the city? The world is your oyster when it comes to cuisine, with options like Vietnamese at The Good Bowl, Italian at Sorellina, and upmarket pub fare at Rare Bird Brewery. View all of your choices here.

    The Good Bowl
    The Good Bowl 


    Sorellina
    Sorellina



    Rare Bird Brewery
    Rare Bird Brewery


  • As the day draws to a close, the sunset calls. Just one block from downtown, Clinch Park and West End Beach provide tranquil views of the sun setting into the bay.
    Clinch Park
    Clinch Park



    West End Beach
    West Bay Beach


    Additional Trip!

  • Bring your tackle box because Traverse City's Boardman River is a premier fly-fishing location. Golfers shouldn't pass up the opportunity to play a round or two at the Grand Traverse Resort and Spa, which features three championship courses, including The Bear by Jack Nicklaus. Learn about the non-motorized TART trail system, which will take you all over town—and beyond—by foot or bike, if you want to spend more time outside.

    Boardman River
    Boardman River

 

 

Have Nice Trip in Traverse City!

 

 

Posted in Community News
Nov. 25, 2022

Reasons to Move in Traverse City

Is the "Cherry Capital of the World" good for living?

Livability 

The overall livability rating for Traverse City is above average. To evaluate a decent standard quality of life in comparison to other cities, a weighting of these characteristics is used to calculate the rating of the city's data points and contributing elements. The livability score takes into account factors like education, crime, cost of living, and people' overall satisfaction, which is evaluated using our sophisticated statistical algorithms as a predictive metric.

 

Cost of Living

The cost of living is a key factor to take into account when deciding where to relocate. Compared to most other communities in the state and the nation, Traverse City has a cheaper cost of living. On a state and federal level, some places may have higher costs than others, but on average, housing, utilities, groceries, transportation, health care, and other goods and services are less expensive.

 

Crime

Traverse City's overall crime rates are lower than both the national and state averages. The overall number of crimes can be divided into two categories: violent crimes and property crimes. Particularly, violent crimes like as rape, aggravated assault, manslaughter, and murder are not as common as they are in other places. Property crimes like theft and arson have a tendency to be less frequent.

  • The overall crime rate is lower than the national average at 19 per 1,000 people.

  • The violent crime rate is below the national average at 4 per 1,000 people.

  • The property crime rate is below the national average at 14 per 1,000 people.

 

Education

A "C-" grade was given to education and schools in Traverse City; this grade is still above average and is regarded as rather satisfactory on a state and national level. This region boasts respectable enrollment rates, teacher to student ratios, and extracurricular program graduation rates across the board.

 

Low Poverty Rate

Compared to other American cities, Traverse City has a lower poverty rate. In American cities, the poverty rate ranges from 10 to 13 percent on average.

 

Traverse City Rankings

Based on important U.S. statistics, Niche ranks thousands of locations as best places to live. experts' insights and the census.

Best Places for Young Professionals in Michigan

# 72 of 815

 

Best Places to Retire in Michigan

# 90 of 619

 

Best Places to Live in Michigan

# 111 of 815

 

 

Real Estate

Farmington Dr

Median Home Value
Traverse City - $282,900 vs National - $229,800

Median Rent
Traverse City - $930 vs National - $1,096

Over 100%
Rent - 39%
Own - 61%

Map

 

"One of the Best City in Michigan. Being a part of a community that has discovered the ideal balance between opportunity, growth, and keeping its small-town spirit is what makes living and working in Traverse City, Michigan, so appealing. Moving to Traverse City and working for some of the greatest employers in northern Michigan makes the move satisfying, and when you have quick access to the city's attractions, work starts to resemble a vacation."

 

 

Posted in Community News
Nov. 23, 2022

Top 6 To Do List In Traverse City

All-around excellent, they are available all year long. Try your hand at all five of these top Traverse City activities to give your trip a well-rounded experience. And after completing each category, start from the beginning and repeat; there is a depth of goodness that never runs out.

 

1. Sleeping Bear Dunes National Lakeshore

Ever feel as though you are at the top of the world? Here is where you can get a glimpse. The Sleeping Bear Dunes National Lakeshore, perched more than 400 feet above the beautiful baby blues of Lake Michigan, is a jewel that never ceases to astound its visitors (and locals). If you don't believe us, remember Good Morning America, which a few years ago dubbed the National Lakeshore as the Most Beautiful Place in America.

If you're just in town for a quick weekend in the summer, go to Pierce Stocking Scenic Drive and exit at the Lake Michigan Overlook. It's breathtaking, stunning, and has an incomparable iconic view. However, if you do have the luxury of time, consider taking a tour, exploring some nearby trails for a hike, bike ride, or snowshoeing, or getting in serious exercise at the renowned Dune Climb. No matter what you decide, make sure to visit the Philip A. Hart Visitor Center in Empire for the latest information on the park.

Sleeping Bear Dunes National Lakershore

 

2. Outdoor Recreation

We all need to put in a few extra miles because of the fruit salad, beverage, and bread. There are different options for getting up and get up and start moving without entering a gym. On the 45th Parallel, the summer days are unusually long, giving us more time to walk, bike, fish, golf, swim, sail, or simply laze around. And the possibilities only intensify when winter arrives. It's a playground without boundaries where you can fat bike, cross-country ski, snowshoe, downhill ski or snowboard, ride a snow tube, ice skate, or go ice fishing. There is also a four-season calendar of races and sporting events if you need a little friendly competition to keep you motivated. Perhaps, as a result, Midwest Living awarded our town the Greatest Town in the Midwest.

Winter Wonderland

 

3. Wine Tasting

The Piedmont area of Italy and Bourdeaux in France share the 45th Parallel, which is one of nature's wonders. As a result, there are roughly 40 distinct wineries, vineyards, and tasting rooms along the Traverse Wine Coast. In addition, the area is protected from mother nature's irregularities by Grand Traverse Bay, with the added benefit of longer daylight hours, which allows for slower, more exquisite ripening. Our winemakers have ranked us highly on a number of lists, including Travel Channel's Top 10 Cities for Wine Snobs, for everything from crisp whites to complex reds.

There is also the aesthetic to consider. The tasting rooms themselves are breathtaking, with everything from a traditional European setting to a minimalist modern design. However, they also have some of the most beautiful views of the landscapes along the coastline. Whether it's a self-guided tour, a snowshoe outing, or a shuttled event, the wineries never fail to show their warmest welcome.

Wine Tasting in Traverse City

 

4. Dining

What is superior to liquid bread, you ask? Serve it on dense bread. And home-made butter, of course, as we're bringing that farm right here to the 45th Parallel to your table. Our northern corner of Michigan is, well, productive, coming in second place to California as the most agriculturally diversified state in the U.S. Before there was a locally sourced movement, our restaurant owners embraced the way of life since the food was readily available, it helped our neighbors, and, most importantly, it tasted fantastic. In 2010, Traverse City was designated one of the top five culinary towns in America by Bon Appetit. Of course, experiencing the fruits of the great outdoors while outdoors is the best of all worlds.

Alfresco Dining in Traverse City

 

5. Microbreweries

Fluid bread You're about a dozen times welcome in this Astonishing City. Maybe it's the plaid shirts, the scruffy beards, or maybe it's the amazing folky song flowing over the taps, but breweries all seem to shout "You're Welcome Here!" Each brewery and taproom brings a distinctive style to the pub scene, but they all share a goal: to promote our country. There is a pint for everything, and we're raising it, whether it be empire hops, asparagus, whiskey, farm-raised pigs, apples, or a complete cherry pie. CNN Money also lists us as one of America's Best Beer Towns, so we are both. We have Traverse City Beer Week every November, and it makes sense.

Microbreweries

 

6. Museums and Galleries

Butterfly House - Open from May through October, it offers a wide variety of butterflies, insects, and stunning flora. For all ages, they provide a wide variety of instructive workshops and presentations! Anybody stopping in Traverse City must go here.

Great Lakes Children’s Museum - Children can also find a ton of entertainment at the Great Lakes Children's Museum. For the best chance of enjoying this play-based exploration, make reservations. They provide a ton of exhibits for kids from 1 to 8 years old and even free online streaming events like story time and kid-friendly craft stations!

The Dennos Museum Center -  Which is on the campus of Northwest Michigan Community College, aims to encourage change and spark dialogue through its exhibitions, programs, and events. Whether you choose a self-guided or guided tour, don't forget to browse the museum store for one-of-a-kind items created by regional to global artists.

There's more, The Traverse City Opera House is a historical location that is listed on the National Register of Historic Places, however, it is not a museum. Now used as a local playhouse and gathering place for the community, this Victorian opera building.

Dennos Museum

Traverse City is well renowned as one of America’s “Must see” sites for family holidays, fine arts, local artisan beer and wine, farm-to-table food, exciting festivals, sailing, golf, hiking, skiing, fishing, and miles of beautiful freshwater shoreline. After a successful day at work, nature's playground is only outside your door.

 

 

 

 

 

 

Posted in Community News
Nov. 22, 2022

Looking at the Future of the Housing Market in Northern Michigan

Home in North Michigan

Godsway, Traverse City, MI

 

"We say this start probably a year, year and a half ago, the supply chain and the cost of lumber and everything increasing," Tucker said. "So, you're going to see that continue as the market shifts a little."

 

Some of those elements have improved, but as building costs and mortgage rates rise, buyers of brand-new homes may experience a mixed bag of options depending on their budget.

 

"You're always going to have the people that have the money to build," Tucker said. "That's not going to slow down. So our custom homebuilding, that's probably not going to see much of a dip."

 

"But the folks that have to be financed... are stretching their budget, those builds are going to be slowing down," Tucker said.

 

Again, the trends we are witnessing has been around for a while.

 

We are informed that a genuine market correction and a return to the conditions the majority of us are more accustomed to may take much longer.

 

However, a lot of realtors advise buyers to maintain some optimism because at least things appear to be going in the right direction.

 

Posted in Real Estate News
Nov. 21, 2022

Northern Michigan & Beyond

The Future of Real Estate – Northern Michigan & Beyond

 

What is The Future of Real Estate – Northern Michigan & Beyond? And, what will change about buying and selling homes within the next year, two years, or five? Predicting the future of any industry isn’t easy. Fortunately, real estate forecasting data is more accessible and accurate than other businesses. That implies generating reasonable future projections isn’t a total guess. We may use historical data to inform current trends and technology in the US real estate sector. We can utilize that data to make reasonable predictions about the future of home purchasing and selling.

With that said, here are some of our predictions about what the future of real estate might look like:

The surge in Home Purchases for Young Families

In any discussion of What is The Future of Real Estate – Northern Michigan & Beyond, and home-buying trends, we must look at one of the most talked-about age demographics in real estate: the millennial generation. Millennials are often criticized for their aversion to buying their first property.

 

However, recent polls and home sales figures point to a changing tide. Millennials seem to be settling down. In fact, over 65% of millennials say they plan to purchase their first home within the next 5 years.

 

With young families and professionals planning to buy homes in the near future, we may soon see a boom in home purchases.

 

Because millennials tend to rent longer than previous generations, several developers have built apartments with higher-end facilities to appeal to their older, higher-paying clientele.

 

These all-inclusive flats may affect millennials’ aspirations for their first house. If so, compact residences with better amenities and easier access to downtown regions may become more competitive.

 

When many people consider the impact of new technology on historic sectors, they generally think of Uber upending the taxicab industry or Amazon upending publishing and book sales.

 

However, most sector-specific technologies evolve within the industry rather than displacing it. We may presume that present technologies will improve, but not necessarily change the sector.

 

Find A Great Northern Michigan Home Today!

 

New Technologies that Streamline the Homebuying Process

 

Nonetheless, real estate technology is transforming how consumers buy and sell properties. Several firms are working on improving 3D imagery to create lifelike digital walkthroughs of unbuilt homes. By giving families a virtual tour of their home before construction even begins, this program may transform the way homes are designed. It will be easier than ever to experiment with the features, colors, and options.

 

Similar technologies will become more common. Every year, real estate will be improved to make things easier for consumers, sellers, agents, and developers. This modest class includes websites that let users to research prospective real estate agents or firms.

 

Modern consumers increasingly trust online reviews of organizations, therefore the most honest and helpful agents and corporations will stand out. Scams are already at a disadvantage. Overall, online reviews will continue to important.

 

Buying or Selling Your Home? Ryan and Jenni Realtors Can Help!

 

Changes in Real Estate Investment

 

The US property value history suggests long-term real estate appreciation. While annual growth varies, the bigger and longer-term real estate trend rewards most patient homeowners.

 

In other words, the national real estate market will likely do what it has done for a long time: offer a safe long-term investment.

 

Now let’s talk about elements of real estate investment that I believe will change in the short term. Two significant predictions come to mind: vacation rentals and residential redevelopment.

 

Vacation Rentals: As previously stated, most technologies do not revolutionize sectors overnight. In fact, the vacation rental business is one of the few changes. I’m referring to Airbnb, the decade-old startup that allowed homeowners (and even tenants) to earn money from vacation rentals. Previously dominated by hotels and waterfront residences, the sector now demands a large piece of what is otherwise a normal housing market.

 

Vacation rentals will become more popular. The number of people owning properties to engage in the holiday rental industry will expand, leading to innovations that combine the best of both worlds. As the market gets increasingly competitive, urban investors will need to discover innovative ways to differentiate their properties.

 

Residential Redevelopment: Active investors have flooded the house-flipping sector. This indicates that the difference between the purchase price and resale value of flipped homes may continue to narrow as more investors compete for the best deals.

 

House flippers may find it difficult to identify investment properties with enough margin to make essential repairs and still make a profit. This talent will increasingly distinguish successful redevelopers from investors who only find properties at auction.

 

Inspire yourself to dream big about your real estate plans. Ultimately, we believe real estate has a bright future, especially in Northern Michigan.

 

 

 

 

 

Posted in Real Estate News