Market Watch Newsletter
August 2024
NAR Settlement Update
and Practice Changes
I’m sure many of you have heard about the new laws going into effect on August 17th regarding broker practices and real estate commissions. There is a lot of misinformation and confusion circulating and we would like to help buyers and sellers navigate these new laws so they can make informed decisions. Below is a quick breakdown of the changes. Please feel free to contact us directly with any questions you may have. 989-385-1311
Offers of compensation will no longer be permitted through the MLS.
A listing broker can agree to share its commission with a buyer’s broker, but only with the seller’s approval.
A buyer and seller may agree (via purchase agreement) that the seller will cover some of the buyer’s closing costs, including buyer’s broker fees.
Broker commissions are not set by law and are fully negotiable.
Realtors working with buyers must enter into a written buyer’s agency agreement prior to showing homes.
The written agreement must state the amount of compensation to be paid to the buyer’s broker.
Practice changes will be implemented on August 17, 2024.
Regional County Market Trends
July 2024
Bay County July Statistics!
Strong Seller's Market
Inventory: Active Listings 160 
10.3%
Days on the Market 13 days 
23.5%
Median Sold Price $160,500
.3%
Sold Listings 101 
3.1%
Saginaw County June Statistics!
Strong Seller's Market
Inventory: Active Listings 310 
6.1%
Days on the Market 11 days 
22.2%
Median Sold Price $185,000 
23.3%
Sold Listings 172 
.6%
Midland County June Statistics!
Strong Seller's Market
Inventory: Active Listings 106 
23.3%
Days on the Market 6 days
Median Sold Price $278,500 
21.1%
Sold Listings 88 
11.1%
Bay Realty Michigan
Current Listings
Luxury living awaits you at Whitestone Bay Condominiums. This two bedroom unit features an updated kitchen with granite countertops, panoramic views of Lake Huron, an outdoor kitchen/grill area, pool and hot tub, a private dock, an elevator, and a built-in fire pit. There is plenty of storage and a separate exterior maintenance room for the furnace, electrical box and water heater. Welcome to maintenance free living on the sunrise side of Lake Huron!
Pending
4 bedrooms, 1 bath, 1800 sq ft
Beauty on Van Buren! Adorable 4 bedroom, 1 bathroom home on the east side of Bay City. This home is on a corner lot and features a private fenced in backyard, 2 car garage, full basement, air conditioning, and an amazing front porch. Updates include a 5 year old roof, newer shower, newer front porch, and the landscaping was just professionally updated. Call today for a private showing!
Beautiful 3 bedroom, 2 full bath home on Point Lookout. This home features a private setting, large bedrooms, a beautiful walk around deck, a walkout basement, and large garage with a loft above. The loft could easily be finished to provide lodging for additional guests. This house sits at the end of a county road and lake access to the beautiful beaches of Point Lookout is just a short walk away. An additional 13.59 acres is also for sale and the seller would like to give the home buyer the first opportunity to purchase the land along with the home.
53 wooded vacant lots for a total of 13.59 acres. Lots 49-60 on 16th St. Lots 36-48 on 15th St. Lots 51-62 on 15th St. Lots 39-50 on 14th St. Lots 36, 37, 38, 63, 64, and 65 are part of the 5295 E. 14th St. property. That property has a home on it that is also for sale. The sellers would prefer to sell the vacant land with the home if possible.
5342 sq ft of shop space on 3 acres that is zoned light industrial. 15ft x 12ft and 14ft x 9ft garage doors. This property has office space in the front with 1 office bathroom and a shop bathroom. Vehicle hoist included in the sale. Forced air heat in the office area. City water and septic. 66ft wide easement accessing property from Patterson Rd. This property was formerly used for an excavating company and the shop is divided for additional business opportunities.
Three bedroom and one bath home on Point Lookout. This home is on a large lot and access to Lake Huron is just a short walk away. It has room for all the toys in the huge 3 car garage and a bunkhouse for guests. Call today for a showing!
Current Buyer Wish List
Buyer 1: Buyer is looking for 20+ acres in Bangor or Hampton Township.
Buyer 2: Buyer is looking for a home on the East side or West side of Bay City. Must have one main level bedroom and full bath on the main level and meet ADA guidelines. Price range up to $160,000.
Buyer 3: Buyer is looking for a home in Midland, Freeland, Auburn, Bay City up to $180,000.
Buyer 4: Buyer is looking for a vacation home with lake access around the Caseville area.
Buyer 5: Buyer is looking for a home on the west side in Bay City. Price range up to $180,000.
An online copy of our book “The Ultimate Guide to Selling Your Home” is now located on our website for all to read for FREE!
Lyndsey O’Brien and Ryan Sagady
Realtors/Broker/Owners
Lyndsey O’Brien: 248-838-8564
Ryan Sagady: 989-385-1311