Traverse City Record-Eagle

Grand Traverse County

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  • JAN-MICHAEL STUMP

    HOME EXPO

  • JAN-MICHAEL STUMP

    HOME EXPO
February 27, 2010

Home Expo vendors optimistic

Hundreds look over building products at show

BY SHERI McWHIRTER

Traverse City -- Unbridled optimism is under construction at the 2010 Home Expo in Traverse City.

Hundreds of builders, buyers and home improvement experts gathered Saturday at East Middle School to talk shop. Most acknowledge the ongoing economic recession hurt the construction and real estate industry in recent months, but many point to signs of growing market vitality.

"I think it's going to come back. It's picking up some," said Casey Edick, a Traverse City builder. "It's probably going to take a while. It's a tough market right now."

Edick is building one

home these days, with two more lined up. And he has one remodeling project under way and another in the design phase, he said.

New home construction and real estate sales slowed as the recession gathered steam, but things aren't entirely dismal, said Richard Baldwin, a Suttons Bay builder.

"A lot of people still have property with dreams of building," he said.

Baldwin said many landowners opt to build energy-efficient homes in more cost-effective ways. Most are greatly concerned with spending wisely during these economic times.

"I do see a trend of more amenities and smaller houses," he said. "Everyone wants more for their dollar."

Christine Stalsonburg is a real estate agent with Exit Realty Paramount in Traverse City. The recession has scared some home buyers, though well-priced homes in good condition are stilling moving, she said.

"With interest rates still low, there's not a sense of urgency, so people are waiting for prices to drop. It's a false sense of security people have right now. They think it's always going to stay that way," she said.

Stalsonburg expects a flurry of property sales when interest rates begin to climb and buyers try to lock in favorable loan rates.

Last spring marked a low point in home sales, but low interest rates and tax incentives are helping the market, said Ron Williamson, a real estate agent with Coldwell Banker.

"It never ground to a halt, but it was close," he said. "I'm optimistic now. People are buying and selling. There's definitely a spike in activity, probably since November."

Jeff and Molly Dalton, of Kalkaska, built a home a couple years ago not far from the Manistee River. The job isn't completely done, so they came to the expo for ideas and inspiration. They are doing the work themselves to save money.

"Now we're finishing up the basement. We just keep working on it," Jeff Dalton said. "We're looking for new products. Nothing special, just good ideas."

"We're interested in the green ideas," Molly Dalton said.

The 2010 Home Expo, hosted by the Home Builders Association of the Grand Traverse Area, will continue today from 11 a.m. to 4 p.m. at the middle school at 1776 Three Mile Rd. in Traverse City. Tickets are $4 at the door.

Visit www.hbagta.com for more information.

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