A hot real estate market in Midland, Gladwin counties – WNEM

MIDLAND, Mich. (WNEM) – There is optimism in Midland and Gladwin counties in regard to the real estate market.

Teresa Quintana, a realtor with Modern Realty in Midland, said residents will do anything to stay in their communities.

“You know the lake is coming back, and a lot of people are willing to wait for it,” Quintana said.

Quintana said the past two years have shown a promising real estate market, as the flood-ravaged communities continue to bounce back from disaster.

“Even when the assessments were high, there were still quite a bit of sales. As more information came out in 2021, we started seeing the market heat up, and now in 2022 it’s the highest I’ve ever seen it,” Quintana said. “Things aren’t even lasting on the market for more than a couple days,” she added.

Quintana also said she has almost no inventory to sell because the demand is so high.

“That’s our biggest challenge, and that’s the market as a whole, but nothing for sale on Sanford Lake right now. There’s more on Wixom than Sanford but there’s a lack of inventory. I’m interested to see it going forward,” she said.

Quintana has also seen a trend of more commercial properties.

“We’re already seeing a lot of businesses develop in the area, when the lakes come back, we’re going to have a lot of outdoor recreation,” she said.

The discussion of the hot real estate market came during our conversation about the tax assessment special district for Midland and Gladwin counties.

“It does not change the value of a home.” Quintana explained to TV5. “It’s been a really interesting thing to watch because in the beginning, in 2020, after this happened, we didn’t know what was going to happen with the real estate side of it,” she continued.

That’s when she used her real estate connections to see the possible implications in the area.

“That first week I called a realtor in Hope Mills, North Carolina, where they recently had a flood there in the last 7 years,” she explained.

She asked realtors in North Carolina what happened to the market after the flooding there.

“It completely grid-locked and nobody has sold anything,” Quintana said. “That’s not the case for us,” she added.

As we reach the two-year anniversary of the dam failures and subsequent flooding, TV5 continues to take a closer look at the aftermath. Catch our special report: “Rising from the Floods” on Wednesday, May 17, 2022, at 7:30 p.m. on TV5.

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