According to The Truth About Mortgage, the "sale fail” rate of homes is rising. "More than four out of 100 sales look as if they’re going to close, and then fall out of escrow for one reason or another,” they said.
So how do you protect your purchase and make sure you get to the finish line? These four tips will help. 1. Prepare yourself for the inspection
Especially if you’re buying an older home, there are bound to be some surprises in the inspection report. The sale fail trend is particularly pronounced for older homes.
"Homes built from 1959 through
Mortgage Rates
U.S. averages as of July 2019: 30 yr. fixed: 3.73% 15 yr. fixed: 3.16% 5/1 yr. adj: 3.39%
1969 had the highest sale fail rate at 5.2%, compared to homes built in 2016, with a dropout rate of only 2.6%, which is among the lowest proportion of failed sale bands,” said The Truth
You just heard those magic words: "We have a deal.” Now, you just have to get through escrow and you can move on to the next stage in your life. That means making sure your home doesn’t end up back on the market. Here are 6 steps you can take both before you list and during the escrow process to make sure everything goes smoothly all the way to closing. 1. Carefully consider your sales price
If you’re working with an experienced real estate agent, he or she should have a recommended pricing strategy based on area comparables. Pressuring your agent for a higher sales price could cause the home to sit on the market and, if you do get an offer, the appraisal may not match the sales price. "If the appraisal comes in
Does your house turn into summer camp as soon as school gets out? Does it seem like you’re hosting the whole neighborhood on a daily basis? It’s great to be the "fun house”—the one where everybody wants to hang out. But, if that means you’re going to have a bunch of people coming through the door (especially children), there are some precautions you’re going to want to take to help keep everyone safe and keep you from being sued or on the hook for expensive medical treatments—or worse. Gate your pool
According to the Center for Disease Control (CDC), "there were an average of 3,536 fatal unintentional drownings (non-boating related) annually in the United States” between 2005 and 2014. That’s just about 10 deaths every day, many of which could have been avoided with safety precautions to keep children out of the pool area, like a simple gate. Costs range
Multiple retail and restaurant changes are underway across the region just in time for summer, including the opening of two new artisan markets, a new beachside paddleboard shop, a café and wine tasting room, and other openings, closings, and moves.
Artisan Markets
At least 45 artists will be featured at the new West Bay Handmade market opening June 30 at 346 East Front Street next to The Coin Slot in downtown Traverse City. Brad Richardson and Cat O’Connor are launching the makers market, which will feature a variety of locally handcrafted items from dozens of area vendors.
“We’ve got a pretty large array of items, including leather goods, jewelry, handcrafted knives, woodwork, furniture, and candles,” says Richardson. Both he and O’Connor are artists themselves, having previously sold their goods online on Etsy, and wanted to open a brick-and-mortar store to “work with local artists in a nice collaboration.” The store will be open seven days a week, likely from 11am to 8pm (closing early on Mondays).
Mae Stier is also showcasing goods from local artisans at her new Blue Heron Mercantileshop at 10097 West Front Street in Empire. “The shop is a mix of grocery essentials, to-go foods, baked goods made by local caterers Mel & Fell, and gift items from local artisans,” says Stier. “We have everything from candles to macramé wall hangings to jewelry and beautifully made ceramics.” The store, which is helping to fill the gap for grocery store essentials created by the closure of Deering’s Market last year, will operate seven days a week this summer.
Outdoor Sports
Jon Houlberg, recently retired from the Coast Guard Air Station Traverse City, hopes to have the largest inventory of paddleboards for sale in northern Michigan when he hosts the grand opening of ØLIV Board Shop in East Bay Township Saturday from 9am to 7pm. Located beachside at 1469 US-31 North across from the Traverse City State Park next to the Brio Beach Inn, the store will operate seven days a week and offer more than 75 premium paddleboards and equipment for sale, plus t-shirts and other gear.
“The other benefit of being on the water is we’re going to offer free demos once a week, and we’ll have hourly, daily, and weekly rentals of inflatable paddleboards that can go in small cars – you don’t need a board rack or SUV,” Houlberg says. Starting in July, ØLIV Board Shop will also offer tours and excursions on motorized paddleboards out to shipwrecks and other notable attractions in West and East Grand Traverse Bay.
In Elk Rapids, Charlie Lakritz and Shaun Quinn have opened Bayfront Beach and Bike at 130 River Street in time for the summer season. The store offers sales and rentals of electric-assist bikes, beach cruisers, stand-up paddleboards, kayaks, river tubes, scooters, and skateboards, plus offers beach accessories and a full-service bike repair shop. Half-day, full-day, and weekly rentals are available, with free delivery on two-day or longer rentals within 20 miles of Elk Rapids. The store is open seven days a week.
Other openings, closings, and moves…
Baia Estate Winery has opened a new café, deli, and wine tasting room at 110 Waukazoo Street in Northport. The New Bohemian Café features a seasonally rotating menu including sandwiches, soups, pastries, sweets, charcuterie boards, cheese plates, and appetizers to accompany wine tastings. The café, owned and operated by Kevin and Amy Murphy, also offers espresso drinks, coffee, and tea and is open six days a week, closed on Tuesdays.
MI Happy Place will close its doors Sunday on East Front Street near The Coin Slot. Owner Beau Warren says he’s closing the retail store in order to accommodate an expansion of his other business, Tee See Tee, which will take over the space. Warren and his wife Jennifer are focusing their efforts on the company's “custom, wholesale, and online apparel business that has experienced exponential growth in the five years since it opened,” Warren says.
Two more brunch vendors are coming to the Sara Hardy Downtown Farmers Market as part of a Taste the Local Difference initiative to host vendors cooking with ingredients from the market. Bubbie’s Bagels will be at the market every Wednesday and Saturday through July serving fresh-baked bagels, cream cheeses, and breakfast sandwiches. Bill Dungjen and his wife Susan, meanwhile, will operate the Cracked Breakfast Truck on market days in September and October (May vendor Rad•ish Street Food will return for August). The Cracked Breakfast Truck will offer a specialty Eggs Benedict, breakfast tacos and burritos, and other to-go items. In addition to the farmers market, Dungjen says the food truck can be found on Traverse City streets and at local events this summer; location updates will be posted on the company’s Facebook page.
A new resale shop has opened its doors in Kingsley. Tonya Smith is running High End Resaleat 104 South Brownson Avenue Monday-Friday 10am-8pm and Saturday 10am-7pm, with the store also open the first and last Sunday of every month. Smith, who obtains inventory from purchased storage units, offers a range of goods including tools, jewels, clothing, and glass pipes. In Traverse City, the Habitat –GTR ReStore is moving this locations this summer from its current home at the corner of Woodmere and Barlow to 2487 Rice Street near the intersection of Cass and South Airport roads. The move, slated for late July, will offer “several immediate improvements...including easier access, ample parking for cars, trucks and trailers, a designated donation drop-off area, and an improved store layout,” according to a company release.
Two Traverse City eateries have closed. Harvey’s Donut & Deli had its last day May 30 at 1779 South Garfield Avenue. “After four memorable years, we have decided to close…our greatest thanks goes out to our loyal customers and all those who supported us,” owners posted on the shop’s Facebook page. Longtime breakfast institution Ham Bonz has also closed up shop at 1108 East Eighth Street after two decades in business. The restaurant closed quietly with little fanfare, with a sign posted on the front door that simply stated: “CLOSED – Thanks for the good times!”
Meanwhile, several new businesses previously announced by The Ticker have officially opened their doors or set opening dates. Georgina’s owner Tony Craig launched his new burgers and sushi restaurant Bushi at 531 West Front Street at the end of May, while Grand Traverse Salad Company held a June 1 grand opening at the corner of South Airport and Cass. Suttons Bay breakfast and lunch spot Gold Baby Biscuits opened its doors June 2 at 206 North Saint Joseph Street. Finally, HomeGoods will hold a grand opening celebration for its first Traverse City store in the former Toys R Us building in Grand Traverse Crossings on June 30 at 8am. The 23,572 square-foot store is expected to employ 65 full and part-time employees.
OPEN HOUSE:
Ad by Greta Carlson – Leelanau Enterprise
PHOTO OF THE MONTH:
I hope all of you have a safe and wonderful 4th of July!
REAL ESTATE INFORMATION:
NEW LISTINGS
1016 S. HERMAN ROAD, SUTTONS BAY MLS 1862075 $243,500
An adorable 3 bedroom 2 bath, 1700 sf ft Suttons Bay Township Cape Cod home is within one block of Suttons Bay Village.
41 N. EAGLE HIGHWAY LAKE LEELANAU MLS 1863273 $299,500
Heart of the County Vacation Rental is a unique investment property. It is zoned commercial and there is lots of room to expand with another building and addition to this home. 2 Bedrooms and 1 bathroom.
1811 SOUTH LAKE SHORE DRIVE LAKE LEELANAU MLS 1863272 $499,000
Lots of possibilities with this 150 ft of direct South Lake Leelanau waterfront home. A 1,200 square foot ranch with detached 2 car garage, 2 bedrooms, 1.5 baths.
#10B BROOK HILL FRACTIONAL CONDO AT THE HOMESTEAD MLS 1861923 $89,900
Brook Hill 10B condo is the perfect getaway for a family who wants to have their special second home at an affordable price without having to do any maintenance. Everything is taken care of for you. Spend all of your time making great family memories. A quarter ownership gives you deeded 12 weeks of vacation at an affordable price. You can count on two 2 weeks of use in the summer and single weeks in fall, winter and spring. 2 Bedrooms and 2 bathrooms.
1811 SOUTH LAKE SHORE DRIVE LAKE LEELANAU MLS 1863272 $499,000
Lots of possibilities with this 150 ft of direct South Lake Leelanau waterfront home. A 1,200 square foot ranch with detached 2 car garage, 2 bedrooms, 1.5 baths.
746 S. FRENCH ROAD LAKE LEELANAU MLS 1861802 $525,000
3 Bedrooms, 2 bedrooms, French Valley Flower Farm is nestled on 12.5 acres of exquisite French Road land. French Road is one of the most beautiful farm areas in Leelanau County.
Exciting land protection news! Last Friday, we closed on an 80-ace parcel adjacent to our Cedar River Preserve, bringing the property to a total 546 acres. This piece of land has been on our priority list for nearly 30 Years, when our founders Ed and Bobbie Collins first dreamt of protecting this unique undisturbed property filled with rare plants and amazing wildlife habitat.
When the property was listed for sale earlier this year, we knew we had to act quickly. In addition to the property’s 20 acres of wetlands, there are 60 acres of mesic northern hardwoods that shelter beautiful wildflowers like trillium and squirrel corn. An extended ridgeline overlooks a geologic feature known as a kettle hole, which with current high groundwater levels forms a pond on the hillside. The ridge also offers sweeping views of South Lake Leelanau and the Solon Swamp. In other words, prime home sites with fantastic views in all directions.
The land is, in fact, one of the last large, undeveloped parcels overlooking Lake Leelanau. “it also represents the only viable way to reach the Cedar River Preserve on foot,” says Matt Heiman, our Director of Land Programs. “At the base of the ridge the property includes 300 feet of shoreline on an unnamed inland lake connected to the Cedar River. “ Some very unique and sensitive wetland plants such as rare orchids (grass pink and rose pogonia orchids), Rare sedges and carnivorous plants (pitcher plant and sundew) exist in the area.
Almost simultaneously, a land swap with the State of Michigan that had been four years in the making was finalized. Conservation Easement Program Manager Yarrow Brown shepherded the process, where six parcels within the Solon Swamp changed hands, “We now own over a mile of frontage along the mouth of the river and both of the inland lakes, and that’s huge,” says Yarrow.
LOCAL RESTAURANT OF THE MONTH:
Photo from Crepes and Company Website
CREPES AND COMPANY IS IN THE STATE STREET MARKET PLACE
OPEN TUESDAY THROUGH SUNDAY 8:00AM TO 3:00PM
BREAKFAST LUNCH AND BRUNCH ON SUNDAY
These are authentic French Crepes brought to you from Vanessa Grasset originally from France and transplanted into Traverse City. Crepes and Company has many options for you to enjoy…savory or sweet. She also will cater parties anywhere in the Grand Traverse- Leelanau area.
Click Here to View Crepes and Company's Menu
RECIPE OF THE MONTH
Fish Tacos
by SAM SIFTON – NYTimes.com
Time: 30 minutes
Yield: 4 to 6 servings
INGREDIENTS
2 medium tomatoes, seeded and finely chopped
1 small red onion, peeled and finely chopped
1 clove garlic, minced
1/2 cup roughly chopped cilantro
1 jalapeño, halved lengthwise, seeded and cut crosswise into half moons (optional)
1/4 cup mayonnaise
1/2 cup sour cream
2 limes, 1 halved and 1 cut into wedges
Kosher salt
Freshly ground black pepper
1 tablespoon canned chipotle pepper, finely chopped (optional)
1/2 cup flour, preferably Wondra or other fine-milled flour
1 1/2 teaspoons chili powder
1/2 cup milk
1/4 cup peanut oil, plus a splash more for greasing pan
Pat of butter
1 pound flounder or any firm white-fleshed fish, cut across the grain of the flesh into strips about 1/2 inch wide by 3 inches long
12 6-inch fresh corn tortillas
2 cups shredded green cabbage
A saucy hot sauce, like Tapatio or Frank’s
Judy’s Movie Reviews
NETFLIX STREAMING
WHEN THEY SEE US
Five teens from Harlem became trapped in a nightmare when they are falsely accused of a brutal attack in Central Park. These men have been interviewed in depth on television and it really is based on a true story. A Must See Movie 4.5 out of 5 stars
NETFLIX DVD
DIFRET
After shooting a man who tried to force her into marriage a 14 year old Ethiopian girl is jailed and charged with murder. A young lawyer works very hard to free her. 4 out of 5 stars
A FIVE STAR LIFE
This is a story of a woman’s quest for professional and romantic life while she is living as a famous critic of the world’s most luxurious 5 star hotels. 3.5 out of 5 stars
MIA MADRE
A film director is in a mixed up time of her life when having to deal with her Mother’s grave illness. 3 out of 5 stars
BIG BUSINESS
Stars Bette Midler and Lilly Tomiln Two sets of twins are separated at birth and 40 years later they stumble upon each other in New York City I am giving them a compliment if I say this is a 2 out of 5 stars but it is 1.5 out of 5 stars.
AMAZON STREAMING
GOOD OMENS
This is a good versus evil story. It’s adventure, comedy, action and fantasy all wrapped up together. 4 out of 5 stars
Yesterday everyone knew The Beatles. Today only Jack remembers their songs. People think they are his songs and Jack finds himself with a very complicated problem. 3.5 out of 5 stars
Daily News and Advice
Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
According to The Truth About Mortgage, the "sale fail” rate of homes is rising. "More than four out of 100 sales look as if they’re going to close, and then fall out of escrow for one reason or another,” they said.
You just heard those magic words: "We have a deal.” Now, you just have to get through escrow and you can move on to the next stage in your life. That means making sure your home doesn’t end up back on the market. Here are 6 steps you can take both before you list and during the escrow process to make sure everything goes smoothly all the way to closing.
Does your house turn into summer camp as soon as school gets out? Does it seem like you’re hosting the whole neighborhood on a daily basis? It’s great to be the "fun house”—the one where everybody wants to hang out. But, if that means you’re going to have a bunch of people coming through the door (especially children), there are some precautions you’re going to want to take to help keep everyone safe and keep you from being sued or on the hook for expensive medical treatments—or worse.
