The newspapers and the press are all trying to make out that the market is improving and with statistics you all know anything is possible!!
From our view point here in Pentwater the market is just as stuck as it has been this past year.
In January we had 100 homes listed in the Village and Township; now we have 120.
There were 27 condos listed for sale in the Village of Pentwater in January and we still have 27 for sale although a couple of them sold and a couple more came to the market.
All in all 14 homes were sold; 6 in the Village of Pentwater and 8 in the Township. 3 were bank owned (foreclosed). Yes, I know there are 3 more months in the year, thankfully.
We closed a short sale this week - been working on that since April.
Buyers are buying but only when a bargain is to be had.
First time buyers have been prominent in the market and there is a little flurry of activity going on right now as they try to beat the November deadline for the $8000 tax credit.
Unfortunately, many potential first time buyers fail to get a mortgage because the lending institutions are so bound up! (dose of salts required, I guess)

When you can buy homes in Detroit for $7000 and in Muskegon for $15,000 it comes as no surprise that the rest of the market has stalled - Maybe better news next week!
Quintus

3rd Quarter 2009

Searching for bright spots in the housing market ??
The choice out there right now is staggering!! If you are in the market in any way - start looking; start educating yourself about the market now because it won't be long before the great buys are all gone.
Recently a home on Pentwater Lake sold for under $300,000!
A home in the Village of Pentwater sold recently for under $110,000!

Sure there are a lot of offerings in the $300,000 bracket but check out what is under $200,000.
I predict that we will have a busy winter season with buyers trying to make sure they are in the market before the prices firm up again.

Hope you are all well and that your summer was wonderful.

Time to go fishing again - Great house hunting!!
Quintus

We have studied the sales on Lake Michigan so far this year and the indication is that prices are holding well.
Some sales have been made under pressure, it is true but generally sales prices are in line with the past 2 or 3 years.
Second homes are not selling well although people still have money - they are nervous about making a committment. Buyers and sellers are coming closer together in their understanding of values which is good.
There are wonderful opportunities out there right now; great selection and choice of location. in the 15 years I have been selling in the Pentwater area I have never seen so much choice and value for money.
So - if you are in the market for a second vacation home now is the time to start seriously looking.
We are still seeing the occassional foreclosure but these tend to be in the rural areas where the homes are residential rather than vacation homes.
Call for our latest brochure or check our web site at www.mwsrealty.com

Pentwater Residential Market

July 9th 2009 - Market is quite stagnant; But property under $150,000 is moving a little.

Pentwater Village has presently 50 Listing of Residential Homes.
6 Residential Homes were sold in the period June 08 - June 09
7 Residential Homes were sold in the period June 07 - June 08
10 " " " " " " " June 06 - June 07

So - we have about 6 - 8 years worth of inventory! (in the village)

Now add on the fact that we have 27 Condominiums for sale in the Village.

For Pentwater Township the figures are:-
43 Residential Homes for sale.
3 sold in June 08 - June 09

Despite what we see there are people out there with money and when they see good value they are buying.

View our 360 Degree tours

The 360 Degree Tour is designed to allow the viewer to see much more than can be seen in a conventional snapshot.
Do not confuse the 360 Degree Tour with a 'Visual Tour' which is just an animated snapshot giving the impression of movement.
One important aspect of the 360 Degree Tour is the ability to review a home after you have visited it in order to remind the viewer specifically of the layout, features etc.

Pentwater Schools Award

According to the Oceana Herald Journal of February 12th 2009 Pentwater School has been awarded a Bronze Medal by US News and World report.
This is the 2nd year the school has received the award.
The honour places the school in the TOP 9% of schools nationwide.
K-12 students were reported to have scored 87.2 % in Reading and 77.3% in Mathematics during the 2006-2007 school year.

I will be posting information about our Real Estate market here in Pentwater Village, Township and the surrounding area; Lake Michigan homes, for example, soon so keep looking.
We will try to keep this blog to factual information designed to help our customers and clients understand the local Real Estate market, values and trends.

O.K. so it's winter in Pentwater - Not much going on in the Real Estate business.
However, Our agents at Michigan West Shore Realty are still here working away preparing for Spring time.
Not only that but, beleive it or not there are people looking, enquiries coming in and property being offered at great prices.
So call today 231-869-5706 to see what is available in your price range.