GLAR is celebrating its centennial this year by putting the finishing touches on its brand new headquarters on Legacy Parkway near Jolly and Pine Tree roads in South Lansing. The distinctive green-roofed 32,000-square-foot facility includes banquet facilities and additional office space to lease. In true real estate fashion, a series of open houses and special events marked the building’s official opening in June.

“We really needed additional meeting space and easier access for our members to get here,” said Elaine West, CEO of the Greater Lansing Association of Realtors. “The new building is more centrally located to serve our members from across mid-Michigan.”

GLAR was founded in 1907, which was actually a year before the National Association of Realtors was formed. The organization, which was originally known as the Lansing Real Estate Board, supplies professional development to its 1,600 members and associate members from the tri-county area through continuing education, services and products.

GLAR members pay $205 yearly membership fees and include real estate agents and a wide variety of professionals from real estate-=related industries, including lending, construction and legal.

“We are all about home ownership and helping people realize the American dream by having well-trained real estate professionals available to be a part of that experience,” West said.

That American dream has become more elusive for some after several years of economic uncertainty across the region, West admitted. The home market slump has forced sellers to reduce prices. Through the first four months of 2007 the sales of Lansing-area homes fell 2.5 percent from 2006 levels. There have been 1,272 homes sold so far this year across the tri-county region.

“There is a very good opportunity right now for anyone looking to buy real estate in this area. It certainly is a buyer’s market. Lansing is one of the most affordable cities in the United States and has exhibited remarkable consistency without the wild price swings that other areas have seen,” West stated.

Matt Bowler, president of GLAR and sales manager for Coldwell Banker Hubbell, said, “It’s not as bad in Lansing as some might think. Home values here have not dropped dramatically, and home sales are certainly not as bad here comparatived to other parts of the state.”

It’s quite different now from what it was in 2002 - 2005, when the local real estate market was headed to all-time highs driven by low interest rates and a better job market, Bowler said.

“That was when everyone wanted to get into real estate because it looked so easy. Actually, real estate is a very difficult career. You have to be diligent in servicing your clients to stay in business,” said West, who admits there has been some attrition in the ranks of real estate agents the last two years. GLAR membership is down slightly over that time of “correction,” as she described it.

Local sales agents hope the real estate market will be buoyed by Downtown Lansing and its recent spate of residential development projects.

“The younger demographic is very interested in downtown and living in areas where there are a lot of leisure activities. A lot of real estate agents are very excited by the loft and condo projects downtown and specifically in Old Town. We are very supportive of the developments and hope they make Downtown Lansing a cool place to be,” West said.

GLAR launched a public awareness campaign called If Not Now, When?(INNW) earlier this year designed to educate consumers that right now is a great time to buy real estate (www.innw.com).

“[Mid-Michigan] is a market where investors want to put their money because they know what to expect. We are strong and steady and not overpriced,” Bowler said. “Home prices are still appreciating and selection is at an all-time high in the Lansing area.”

INNW asks a series of questions to help clarify the current housing market and is aimed at boosting the confidence of potential buyers.

Bowler said the campaign began in January and has since been incorporated into the advertising campaigns of many of GLAR’s members.

“We simply ask investors, If Not Now, When? When interest rates go up? Or when there are fewer homes on the market? This is an exceptional time to buy real estate in mid-Michigan,” Bowler declared.

GLAR is poised for future growth with a new home of its own and 100 years of experience helping home buyers and sellers find a successful match.