Jason Kudary's Traverse City Real Estate Blog

Negotiating More Than Sales Price

Fri, 02 Jul 2010 08:47:00 GMT

When negotiating to purchase a home, many buyers focus mostly on the sales price, which is understandable. After all, a home is typically the largest transaction home buyers have been involved with and the price paid is a huge factor in their monthly payment.

However, in addition to negotiating the price of a home, a buyer can also negotiate to have the seller contribute money from the proceeds to allocate towards the buyer's closing costs. This money can be used towards either the reduction of cash required to close and/or a reduction in the interest rate on the mortgage.

It's easy to see the benefits for buyers to have a lower interest rate on their mortgage. However, one aspect of this situation not often considered is that the IRS treats points that are paid up front to lower a mortgage interest rate as pre-paid interest, regardless of who pays the fees. This means that when buyers negotiate to have the seller pay the costs to lower their interest rate, they receive the benefit of deducting them on their income taxes in the year the home is purchased.

By focusing on these terms – and, frankly, opportunities – home buyers can save money both now and over time.

Jason Kudary real estate - Traverse City real estate

New Traverse City Home Listing Across from Northwestern Michigan College

Fri, 23 Apr 2010 10:59:00 GMT

Great location across from Northwestern Michigan College and within walking distance to Dennos Museum, Eastern Elementary School, Central High School, Traverse City Civic Center and Bardons Ice Cream – all are within a mile. Very nice 4-bedroom, 1.5-bath home has numerous updates inside and out. New lighting, interior and entry doors, hardware, updated kitchen and baths, window treatments, cabinetry, faucets, base trim and window casings, York Affinity Series furnace and more. Hardwood and laminate wood floors, ceramic tile, fenced yard with mature trees and nice patio. Clean, usable basement space. Backyard storage building has electric and workshop area. 1628 E Front St, Traverse City, MI.

Traverse City real estate - Jason Kudary real estate

My Real Estate iPhone App in The Traverse City Business News Ticker

Tue, 06 Apr 2010 15:45:00 GMT

The April 5^th Ticker from the Traverse City Business News references the real estate iPhone app I recently added to my website. This free app allows anyone to search all Traverse City MLS listings quickly and easily. Check it out!

Traverse City real estate – Jason Kudary real estate

Traverse City Central Neighborhood Home for Sale

Fri, 12 Feb 2010 04:00:00 GMT

New listing! Beautifully remodeled in-town home in the very desirable central neighborhood, within walking distance to Traverse City beaches and downtown shopping and restaurants. This 3-bedroom, 2.75-bath home has been tastefully updated with quality amenities and stylish décor. The fabulous master suite features a gas fireplace, vaulted ceiling, skylight, walk-in closet and private bath with whirlpool tub. The bright kitchen is highlighted by granite counters and custom lighting with a mudroom/pantry area just off the kitchen. Also on the main level--a dining room, front/sitting room, living room and laundry. Bay windows let in plenty of natural light. The wiring, plumbing, siding and roof have also been completely updated. Situated on a double, fenced lot with large stamped-concrete patio, detached garage and dog kennel area. A great find! For full details and photos visit 210 W Twelfth St, Traverse City, MI.

Jason Kudary real estate – Traverse City real estate - Century 21 Northland

New Traverse City Real Estate iPhone App

Tue, 26 Jan 2010 16:48:00 GMT

Now you can search all Traverse City real estate MLS listings from my new iPhone application! Browse listings, map locations and get listing details for anything and everything in Traverse City and the surrounding area. Download the app and enter code 4060 to get started!

Traverse City real estate - Jason Kudary real estate

Traverse City Real Estate 2009 Sold Market Analysis

Tue, 12 Jan 2010 04:00:00 GMT

Here is a 2009 year-end sold market analysis from the Traverse Association of Realtors for real estate in Traverse City, Grand Traverse County and the surrounding counties of Leelanau, Benzie, Antrim and Kalkaska. It offers an interesting look at single-family home sales trends over the past several years.

Although the number of home sales in Grand Traverse County was slightly down from last year, overall total sales increased by 194 units. The average selling price is down from $200,358 to $174,101 and the number of days on the market is holding fairly steady at nearly 180 days. The highest number of units sold was in the $120,000 - $139,999 price range, with high totals in the $80,000 - $119,999 price ranges as well. The tax credit has attracted many first-time homebuyers into the marketplace and has helped to boost sales in these price ranges.

We are experiencing a solid real estate market so far this winter here in Traverse City. This is encouraging as we begin a new year, and a new decade!

Jason Kudary real estate – Traverse City real estate

New Long Lake Township, Traverse City Real Estate Listing

Wed, 06 Jan 2010 10:18:00 GMT

Affordable ranch home just listed in desirable Long Lake Township, only 6 miles west of downtown Traverse City and just 2.5 miles to Long Lake public beach and boat launch. Long Lake Elementary and Traverse City West Senior High Schools are conveniently close by. Like ice cream? Popular Moomer’s homemade ice cream store is just 1.5 miles down the road.

This nicely updated 3-bedroom home features teak hardwood floors, natural fireplace, stylish kitchen with stainless appliances and granite-tiled counters, full unfinished basement for plenty of storage, plus a nice-size yard with backyard deck for barbequing.

Attractively priced at $115,000. Perfect starter home or investment opportunity! Give me a call if you’d like additional details.

Traverse City real estate – Jason Kudary real estate

Reminder! Conditional Homestead Exemption Filing Deadline

Tue, 29 Dec 2009 15:54:00 GMT

If you’re a Michigan resident and have taken advantage of the Conditional Rescission of a Principal Residence Exemption (PRE), remember to file Form 4640 with your city or township assessor on or before December 31^st to receive the exemption for the coming year.

The conditional rescission allows for an owner to have a PRE on a current Michigan property and on a previously exempted property at the same time. If that property is currently for sale, is not occupied or leased, and is not used for any business or commercial purposes, an owner can retain the exemption on this property simultaneously with their current exempted property for up to three years.

If you’ve moved, have your previous home for sale and you meet the above criteria, be sure to take advantage of this opportunity. To initially qualify for the conditional rescission, you must have this same form filed with the city or township by May 1^st of the year of the claim (and then submit it annually before December 31^st as mentioned above for each subsequent year).

If you’re looking to claim an exemption for a property in the Traverse City area, feel free to contact me and I would be more than happy to answer any questions you may have and help you with the filing process.

Jason Kudary - Traverse City Real Estate

Local Traverse City Home Sales Up 5%

Wed, 25 Nov 2009 04:00:00 GMT

October home sales for Traverse City and our five-county area are up 5% from September sales numbers and have increased more than 8% from October 2008, as reported yesterday by the Traverse City Record Eagle. The article also reports improved national sales numbers as well.

We did see a significant increase in buyer activity leading up to the original tax credit deadline of November 30^th which has helped contribute to these improved sales numbers. We hope that the extension of the tax credit to April 30^th of 2010 will continue to help boost the Traverse City real estate market through the winter months and into spring.

Great deals, especially in and near downtown Traverse City, are going very fast. If you’re looking to buy, be sure to sign up for our automatic email service that will send you Traverse City area new listings as soon as they come on the market. And if there are any questions I can answer about the tax credit or any Traverse City real estate questions in general, please don’t hesitate to contact me.

Hope everyone has a safe and happy Thanksgiving!

Traverse City real estate – Jason Kudary real estate

Homebuyer Tax Credit Extended

Wed, 11 Nov 2009 04:00:00 GMT

Looking to take advantage of the $8000 first-time homebuyer tax credit? Good news! You now have until April 30, 2010 to do so. The tax credit has been officially extended for first-time home buyers and it’s also been expanded to include current homeowners that have used the home sold (or being sold) as a principle residence consecutively for five of the past eight years. Here’s an easy side-by-side comparison from the National Association of Realtors detailing the rules of the original tax credit that expires on November 30, 2009 and the new plan that is in effect until April 30, 2010.

This is great news for our Traverse City real estate market! We’ve seen a boost of activity from homebuyers already set to close on their home purchases before the end of the month and we’re hopeful that this increase in activity will now continue through the new deadline.

And there are still many great real estate buys in and around Traverse City. I just listed a newly remodeled 3-bedroom, 1.5-bath ranch in-town on Hamilton St within walking distance to the Traverse City Civic Center and only a ½ mile to Northwestern Michigan College for $114,900. Interest rates are still low with great programs available for conventional, RD and FHA financing.

It’s a great time to buy that first house, or new house, you’ve been wanting! Search all of the Traverse City area MLS listings and find the one that’s right for you. If you have any questions on the tax credit extension or any real estate questions in general, don’t hesitate to contact me.

Traverse City real estate – Jason Kudary real estate

4Br Near Northwestern Michigan College

Mon, 26 Oct 2009 03:00:00 GMT

Walk to Northwestern Michigan College, East Grand Traverse Bay beach, Tom's grocery, convenience stores, restaurants or just a quick bike/drive to Traverse City's downtown business district from this great 4BR/2.5Ba brick and cedar-shake Cape Cod. Located just off Munson Ave (US-31) for quick access to amenities, yet far enough for that 'quiet street' feel with a private yard and mature trees. Recent updates include the roof, kitchen, hot water heater, furnace and some windows. Other features include hardwood floors, space for office, fireplace and attached garage. Hurry and inquire about details for the $8000 tax credit with purchase!

356 Huron St, Traverse City, MI ~ $155,900

Traverse City Real Estate - Jason Kudary Real Estate

Traverse City, MI - A Top Retirement Destination

Thu, 15 Oct 2009 09:55:00 GMT

The current issue of Money Magazine lists the 25 best places to retire and our own Traverse City, MI made the list! The article examined locations with attractive housing dollar values combined with things like quality healthcare, reasonable tax rates and a wide variety of things to do. With a surplus of four-season activities to choose from, miles of sandy beaches and water vistas to enjoy, a focus on the arts and cultural events, plus access to top-notch medical care at Munson Medical Center, it’s no wonder Traverse City was a perfect choice for their list.

And our affordable home prices make Traverse City a great destination, not just for retirement, but for anyone looking for a beautiful place to live with all the conveniences of a larger city, but with that desirable small-town feel. Although we’ve not felt the effects of the downturn in the housing market as badly as other parts of the state, home prices here have come down and there are great buys to take advantage of.

Feel free to search all of our local MLS listings or give me a call; I’m happy to help answer any questions you may have about our area and real estate market.

Traverse City Real Estate – Jason Kudary Real Estate

$8000 Tax Credit Deadline!

Tue, 25 Aug 2009 03:00:00 GMT

The deadline for first-time home buyers to take advantage of the $8000 tax credit is fast approaching. Give me a call for more details!

Traverse City Real Estate - Jason Kudary real estate

Old Mission Peninsula Waterfront

Thu, 16 Jul 2009 03:00:00 GMT

Check out the virtual tour for this awesome Smokey Hollow Rd vacant parcel I just listed on Old Mission Peninsula. Includes 175ft of private waterfront, amazing sandy beach and nearly 2 acres of beautiful hardwoods. A rare find!

Traverse City real estate - Jason Kudary real estate

Traverse City Cherry Festival

Fri, 03 Jul 2009 11:14:00 GMT

Wow, I can hardly believe that it's nearly the Fourth of July and time for the National Cherry Festival here in Traverse City already! If you're visiting, or one of the locals that like to stay and enjoy the festivities, here's a schedule of events to help guide you through the week. Have a safe and fun Fourth of July holiday and Cherry Festival!

Traverse City Real Estate - Jason Kudary Real Estate

Healthy Futures Program

Fri, 19 Jun 2009 03:00:00 GMT

Healthy Futures is a partnership of Traverse City area health care providers, health departments and Munson Healthcare. I, along with my company as a whole, have been supporting Healthy Futures for the past couple of years, donating a portion of every sale to their program. It has been a very rewarding affiliation and I wanted to summarize the program for those of you not familiar with it.

Healthy Futures was created and implemented in 1998 to improve the health of children born at Munson Medical Center and partnering hospitals. It ensures access to prenatal and primary care services for the population of families with children from conception to age two. It is a free service!

The program offers a community-based registered nurse to offer personal support through phone calls and visits, whatever you are comfortable with. The program also ensures timely health information delivered to you by mail focusing on immunizations, safety and nutrition. Again, this is a free service to all pregnant women and families with small children in the Northwest Lower Michigan region.

If you would like more information about the program, feel free to contact me directly, or you can contact Healthy Futures at (231) 935-5640 or toll free at (888) 403-8468. Every child deserves a healthy future!

Update 6/25/09! - Article on the Healthy Futures program just released by the Record-Eagle.

Traverse City real estate - Jason Kudary real estate

Immediate Occupancy

Fri, 22 May 2009 10:36:00 GMT

I have a beautifully remodeled ranch home with a full walkout basement ready for immediate occupancy! Quality finishes throughout including maple hardwood floors, slate flooring in foyer and garage entry and a custom kitchen with cherry cabinetry, granite counters and quality stainless appliances (including a convection oven). The master bedroom has a private bath with a beautiful ceramic tile walk-in shower. New landscaping and paved driveway just added. Situated on an acre just north of the Grand Traverse Resort & Spa and very close to East Grand Traverse Bay access. Priced to sell at $169,900! 3893 Dock Rd, Williamsburg

See all Traverse City real estate listings!

Traverse City real estate - Jason Kudary real estate

Shrooming Season!

Tue, 12 May 2009 03:00:00 GMT

'Tis the season for sprouting flowers, budding trees and my personal favorite, hunting those wonderful morel mushrooms! The walks in the woods, the fresh air, and then coming home with a sack full of these tasty treats...what a great side dish to my steak dinner the other night!

No secrets given away here on locations, but I did find some great recipes from Marx Foods you can use to prepare your shrooms.

And although the Mesick Mushroom Festival is finished, there is still the National Morel Mushroom Festival to enjoy in Boyne City from May 14th through May 17th.

Happy hunting and eating to all you shroomers!

Traverse City Real Estate - Jason Kudary Real Estate

Great Deals!

Fri, 10 Apr 2009 03:00:00 GMT

The spring sunshine has gotten the real estate market buzzing again and if you're looking to buy, now is the time! Interest rates continue to be at record lows and there are many, many great deals out there, including residential homes, waterfront properties and vacant land. Looking for access to all Traverse City area real estate listings? Simply visit my Search Listings page and you'll find everything you need there. If you have questions about any properties you find or the current market in general, just give me a call! Have a very Happy Easter!

Traverse City Real Estate - Jason Kudary Real Estate

Do You Qualify for the New $8000 Tax Credit?

Fri, 13 Mar 2009 03:00:00 GMT

No doubt you've heard something about the new $8000 tax credit available for first-time home buyers as part of the latest stimulus package. I wanted to provide you with a brief and easy-to-understand summary of what the credit means and who is eligible to take advantage of it.

The tax credit is for first-time homebuyers who purchase a home from January 1, 2009 to November 30, 2009. Those eligible can receive a credit of $8000 or 10% of the value of the home, whichever is lower.

This is a tax credit, meaning it is a dollar-for-dollar tax reduction. So for example, if you were to owe $8000 in income tax and you qualify for the $8000 tax credit, then you would actually owe nothing. And, the tax incentive is refundable. If you were to owe only $4000 in income tax and qualify for the $8000 tax credit, you can apply $4000 of the credit toward your tax liability and receive a check for the remaining $4000.

The tax credit is available for any home that will be used as a principle residence, including single-family homes (including manufactured homes), townhouses and condominiums. Keep in mind that you would be required to repay the credit if you sell your home within three years.

The incentive does begin to phase out for couples earning above $150,000 and single filers with incomes above $75,000. For more details on this and any other questions you may have, click here or feel free to give me a call.

Traverse City Real Estate - Jason Kudary Real Estate