I
f you're considering buying or selling a property in Northern Michigan in 2025, be prepared for a market full of surprises. To help you navigate with confidence, we spoke to three local real estate experts who shared their insider tips.

    1. Don't let minor flaws scare you off. "There are great opportunities in desirable locations," says Kimberly Bork, broker/owner of Venture Properties. Focus on the property's potential rather than its current condition.

    2. Higher interest rates can actually work in your favor. With fewer buyers competing, you may have more negotiating power and be able to secure better terms. As Bork advises, "Date the rate, marry the property."

    3. You don't need a massive down payment. Options like FHA, USDA, VA, and conventional loans with low or no down payments are available. You can also ask sellers to cover closing costs.

    4. Economic uncertainty is making buyers more cautious, but this means more inventory and less pressure to make a quick decision. "Homes are still selling, but they're sitting on the market longer," says Ann Porter, Realtor/Associate Broker at Real Estate One.

    5. Waterfront properties and starter homes remain in high demand, especially those under $400,000 near downtown Traverse City. Consider looking for hidden gems just outside popular areas like Glen Arbor and Leland.

    6. In multiple-offer scenarios, think beyond the price. Ask the seller's agent what matters most to them, such as a flexible closing date or an appraisal gap guarantee. Waiving inspections can also be a strategy, but use caution.

    7. New construction is on the rise in Grand Traverse County, with condo developments and homes becoming more popular. Builder wait times are easing, making new construction a viable option.

    8. Simple upgrades can make a big impact for sellers. Manicured landscaping, fresh paint, and modern hardware can increase your home's appeal and value.

    9. Short-term rental regulations are tightening in areas like Old Mission Peninsula. If you want to purchase an STR property, look for commercial or hotel zones with clear rules.

    10. New buyer-agent agreement requirements mean agents must sign a written contract before showing homes. Take time to read the paperwork and ask questions before moving forward.

    11. Staging is essential for selling your home quickly and for top dollar. An NAR report shows that staged homes sell for 5-10% more, and many properties have sold for even higher prices after staging.