Thursday, March 29, 2007

Charlevoix Marina Project Moves Forward

The Charlevoix Marina reconstruction project is moving forward, with the marina portion of the project expected to be completed by Memorial Day weekend. The floating docks are not expected to have working water and electricity until fall, however. The East Park portion of the project, including the performance pavilion and the harbormaster building, will not be completed until this fall. The bandshell, and the old harbormaster and chamber of commerce buildings, have been razed.

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Wednesday, March 14, 2007

Kiplinger's Highlights Exclusive Buyer Agents

Exclusive buyer agents are highlighted in the latest edition of Kiplinger's Personal Finance. According to the article, "Unlike traditional agents, EBAs don't work for listing brokers, so they avoid the risk of dual agency -- when one broker represents both parties. EBAs are still paid by the seller, but they can promise to represent your interests exclusively throughout the transaction and help you negotiate the lowest price."

The mainstream media finally seems to be catching on to the idea of exclusive buyer agency. Consumer Reports featured exclusive buyer agents, and the National Association of Exclusive Buyer Agents, in its May, 2005 edition. Exclusive buyer agency has also been mentioned in numerous additional publications recently, including the Wall Street Journal.

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Thursday, March 01, 2007

Boyne City Real Estate - 2006 Market Statistics

Boyne City residential real estate sales volume plummeted in 2006 from the prior year, as did both the median and average home price. Unit sales of homes and condominiums in the Boyne City School District declined almost 20%, from 137 units in 2005 to 110 units in 2006. Sales by dollar volume decreased to $26,201,917 in 2006, from $36,906,222 in 2005, a whopping decline of almost 30%.

The median Boyne City home price dropped significantly in 2006 to $127,750, from $163,900 in the prior year. The average home price declined by 12%, from $269,388 in 2005 to $238,199 in 2006. Of those homes which did sell, the average days on market (DOM) increased significantly, from 149 DOM in 2005 to 200 DOM in 2006.

Note: Based on information obtained from the Northern Michigan Multiple Listing Service for the period from January 1, 2005 - December 31, 2006.

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