Grand Traverse County MI Homes for Sale

• 

  

  

  /11

  $44,310

  • Land
  • 0.69 Acre
  • $64,217 per Acre

  2971 Michele Marie Unit 4, Grawn, MI 49637

  Build your dream home in Glacier Ponds II! This peaceful development is ideally located just 15 minutes from the Interlochen Center for the Arts and 20 minutes to downtown Traverse City. Spacious parcels offer plenty of room to bring your vision to life, with amenities like natural gas, underground electric, high-speed internet, cable TV, and a low annual association fee of $400 for road

  Ann Porter REO-TCRandolph-233022

  2971 Michele Marie Unit 4, Grawn, MI 49637
• 

  

  

  /11

  $44,310

  • Land
  • 0.69 Acre
  • $64,217 per Acre

  6432 Jeffrey Place Unit 16, Grawn, MI 49637

  Build your dream home in Glacier Ponds II! This peaceful development is ideally located just 15 minutes from the Interlochen Center for the Arts and 20 minutes to downtown Traverse City. Spacious parcels offer plenty of room to bring your vision to life, with amenities like natural gas, underground electric, high-speed internet, cable TV, and a low annual association fee of $400 for road

  Ann Porter REO-TCRandolph-233022

  6432 Jeffrey Place Unit 16, Grawn, MI 49637
• 

  

  

  /11

  $44,310

  • Land
  • 0.69 Acre
  • $64,217 per Acre

  3016 Michele Marie Unit 10, Grawn, MI 49637

  Build your dream home in Glacier Ponds II! This peaceful development is ideally located just 15 minutes from the Interlochen Center for the Arts and 20 minutes to downtown Traverse City. Spacious parcels offer plenty of room to bring your vision to life, with amenities like natural gas, underground electric, high-speed internet, cable TV, and a low annual association fee of $400 for road

  Ann Porter REO-TCRandolph-233022

  3016 Michele Marie Unit 10, Grawn, MI 49637
• 

  

  

  /21

  $279,900

  • 2 Beds
  • 2 Baths
  • 1,264 Sq Ft

  8645 Rahe Rd, Kingsley, MI 49649

  Discover the perfect blend of privacy, nature and comfort in this charming home just outside of Traverse City! This inviting property features a bright sunroom, a cozy fireplace and a relaxing hot tub. The spacious detached garage offers ample storage, complemented by an additional garden shed. Surrounded by wildlife and open space, this home provides a peaceful retreat with all the country charm

  Abigail Gross Coldwell Banker Schmidt Traver

  8645 Rahe Rd, Kingsley, MI 49649
• 

  

  

  /32

  $779,000

  • 7 Beds
  • 4 Baths
  • 3,644 Sq Ft

  3214 Tibbets Dr, Traverse City, MI 49696

  Spacious custom home on Tibbets Lake, only minutes to Traverse City. This 6 Bedroom home has a walkout basement with daylight windows and a gentle slope to the lake. Office / study could be another bedroom. Attached to the garage is a fully independent apartment / family guest suite that has a bedroom, bathroom, and living / kitchen area. Quality throughout and well maintained. Close

  Stephen Karas EXIT Northern Shores Realty-ER

  3214 Tibbets Dr, Traverse City, MI 49696
• 

  

  /43

  $450,000

  • 3 Beds
  • 2 Baths
  • 1,380 Sq Ft

  8400 Westminister Rd, Kingsley, MI 49649

  Ranch style home situated at the corner of the 20-acre parcel. Approximately 20 minutes South of Traverse City and 25 minutes North of Cadillac. Here you will appreciate all main floor living with several slider glass doors bringing in all the natural light. There are 3 bedrooms and 2 baths, mudroom and ample storage space with the 3-stall garage. Currently a rental property.

  Stacy Allman MI Properties North Real Estate Group

  8400 Westminister Rd, Kingsley, MI 49649
• 

  

  /25

  $900,000

  • Land
  • 125 Acres
  • $7,200 per Acre

  00 Blackman Rd, Kingsley, MI 49649

  Large track of land in Kingsley. A great location just north of the county line. Approximately 20 miles to Traverse City or Cadillac. There is 32x48 outbuilding and a plethora of hardwoods and evergreens. Tree value is included in the price.

  Stacy Allman MI Properties North Real Estate Group

  00 Blackman Rd, Kingsley, MI 49649
• 

  

  /14

  $95,000

  • Land
  • 0.63 Acre
  • $150,794 per Acre

  Lot 27 Bunker Hill Rd, Williamsburg, MI 49690

  Discover the perfect spot to build your dream home on this beautifully wooded .63 acre lot in lovely Scenic Hills Estates. A potential driveway off Bunker Hill Road offers easy access. Enjoy bay views and close proximity to the TART Trail, along with a public boat launch just across 31. The development has a municipal sewer system. Come take a peek- this parcel blends natural beauty with year

  Eleanor Vratanina REO-TCRandolph-233022

  Lot 27 Bunker Hill Rd, Williamsburg, MI 49690
• 

  

  /20

  $2,895,000

  • Land
  • 35 Acres
  • $82,714 per Acre

  0 Silver Harbor Dr, Traverse City, MI 49684

  SILVER LAKE DEVELOPMENT PARCEL 670 FEET OF FRONTAGE ON 35 ACRES! Ideal Northern Michigan location a short distance from the cultural center of Traverse City, discover this development site or private estate setting. You will be close to all the area’s amenities including fabulous restaurants; glorious resorts & spas; renowned wineries; fishing and water sports galore, golf and downhill skiing.

  Jake Bishop RE/MAX Of Elk Rapids

  0 Silver Harbor Dr, Traverse City, MI 49684
• 

  

  /22

  $100,000

  • Land
  • 1.61 Acres
  • $62,112 per Acre

  1.6 Acres January Dr, Traverse City, MI 49684

  Welcome to this beautiful 1.6-acre lot just west of Traverse City! This spacious parcel offers the perfect opportunity to build your dream home surrounded by nature and privacy, while still enjoying the convenience of being just minutes from downtown. Whether you're looking for peaceful country living or easy access to all that Traverse City has to offer, and just minutes to Munson, this location

  Kara Emerich Century 21 Northland

  1.6 Acres January Dr, Traverse City, MI 49684
• 

  

  /27

  $250,000

  • Land
  • 4.25 Acres
  • $58,824 per Acre

  4.2 Acres January Dr, Traverse City, MI 49684

  Welcome to this expansive 4.25-acre lot just west of Traverse City, offering a peek a boo view of the bay, privacy and convenience. This rare parcel provides the perfect blend of privacy, space, and convenience. Build your dream home overlooking the water, surrounded by nature, while still being just minutes from downtown Traverse City, and Munson. With room for a home, gardens, a pole barn, or

  Kara Emerich Century 21 Northland

  4.2 Acres January Dr, Traverse City, MI 49684
• 

  

  /29

  $595,000

  • 3 Beds
  • 1.5 Baths
  • 1,456 Sq Ft

  3227 S Garfield Rd, Kingsley, MI 49649

  Turnkey Riverfront Cottage! Your Kayak is singing the Billy Bass Song-'Take Me to the River, Drop Me in the Water.' Could you blame it once it knows about this absolutely charming turnkey Cottage with 186' and close to 2 acres on the beautiful Boardman River? Soak up the dream with frontage on both sides of the water~which offers adventures for camping or hiking on the opposite shore. This

  Sue Louiselle Coldwell Banker Schmidt Traver

  3227 S Garfield Rd, Kingsley, MI 49649
• 

  

  /13

  $1,600,000

  • Land
  • 1.1 Acres
  • $1,454,545 per Acre

  5600 Us-31 N, Williamsburg, MI 49690

  Great highway visibility for this corner parcel on US-31 and Cresthaven in Acme township. Property has ingress/egress on both Cresthaven & US-31 and sits across the street from East Bay Harbor Marina with incredible views of the bay. Currently used as Antique store but site would be perfect for mixed-use development including retail, restaurant, office, hotel and residential.

  Daniel Stiebel Coldwell Banker Schmidt Traver

  5600 Us-31 N, Williamsburg, MI 49690
• 

  

  /46

  $595,000

  • 3 Beds
  • 3.5 Baths
  • 2,374 Sq Ft

  6530 Mission Ridge, Traverse City, MI 49686

  Spacious 3BR/3.5BA condo in the sought-after Port of Old Mission II community—ideal for empty nesters, down-sizers, or second-home buyers. This layout provides main-floor living with a vaulted great room and fireplace, primary suite, laundry, kitchen, and attached two-car garage. The walkout lower level adds two bedrooms, two full baths, and a family room—perfect for guests, a home office, or

  Matthew Dakoske REMAX Bayshore - Union St TC

  6530 Mission Ridge, Traverse City, MI 49686
• 

  

  /19

  $354,900

  • 2 Beds
  • 2 Baths
  • 897 Sq Ft

  630 S Garfield Ave Unit 317, Traverse City, MI 49686

  This 2 bed, 2 bath condo is located at the eastern edge of Traverse City's Downtown, Trailside 45 is a well known residential condominium community. It's adjacent to the TART trail, which allows pedestrian and bicycle access throughout Traverse City and beyond. This unit has been thoughtfully designed and has been a utilized as a cash-flowing short term rental. The building has a number of design

  Blake Bernard REO-TCRandolph-233022

  630 S Garfield Ave Unit 317, Traverse City, MI 49686
• 

  

  /39

  $725,000

  • 3 Beds
  • 3 Baths
  • 2,055 Sq Ft

  254 Island View Dr, Traverse City, MI 49696

  Tucked along 100 feet of private, sandy frontage on all-sports Island Lake, this home offers that relaxed Up North feel with the convenience of being just minutes from downtown Traverse City. Gather with friends on the lakeside deck, unwind by the fireplace on a winter evening, or host summer get-togethers on the patio, just steps from the water’s edge. With a woodstove in the lower level, plenty

  Matt Geib Viewpoint Realty

  254 Island View Dr, Traverse City, MI 49696
• 

  

  /21

  $299,900

  • Land
  • 1.65 Acres
  • $181,758 per Acre

  Lot 18 Woods Dr, Traverse City, MI 49686

  Discover this fantastic opportunity in a newer subdivision, nestled among lush landscape with an abundance of hardwood trees on Old Mission Peninsula. This 1.65 acre parcel offers shared access to 315 feet of pristine sandy shoreline along Grand Traverse East Bay, basking in lovely southern exposure. Enjoy the benefits of a shared beach deck for leisurely days by the water. Experience

  Jennifer Edson Five Star Real Estate - Front St TC

  Lot 18 Woods Dr, Traverse City, MI 49686
• 

  

  /40

  $225,000

  • 2 Beds
  • 1 Bath
  • 685 Sq Ft

  1021 Centre St Unit 11, Traverse City, MI 49686

  Affordable and convenient! Enjoy in-town living in this attractive upper condo that was completely remodeled in 2022. Updates include kitchen, bathroom, flooring, appliances (including washer and dryer), new windows, doors and trim. Extremely convenient location close to the airport, library, beaches, shopping, TART Trail, and downtown.

  Andrea Galloup Century 21 Northland

  1021 Centre St Unit 11, Traverse City, MI 49686
• 

  

  /25

  $199,999

  • 1 Bath
  • 320 Sq Ft

  5605 E Creeks Crossing Unit 36, Williamsburg, MI 49690

  5605 Creeks Crossing East – The Shores at Grand Traverse Resort This fully furnished, short-term rental approved main-floor studio condo offers beautiful views of East Bay and a low-maintenance lifestyle in Northern Michigan. Enjoy recent updates like a newer furnace and A/C (2019) and stackable washer & dryer (2019). Step out onto your 8' x 9' private deck and take in the peaceful setting,

  Gavin Caverly Keller Williams Northern Michigan

  5605 E Creeks Crossing Unit 36, Williamsburg, MI 49690
• 

  

  /22

  $289,000

  • Land
  • 0.59 Acre
  • $489,831 per Acre

  0000 Lake Dr, Traverse City, MI 49685

  Rare opportunity to own a half-acre parcel with 25 feet of private frontage on beautiful Silver Lake. This cleared and ready-to-build lot offers the perfect blend of tranquility and convenience—nestled in a quiet, private setting yet just minutes from downtown Traverse City. You'll have swimming, boating, and fishing right out your back door. Whether you're looking to build a year-round residence

  Adam Miller Coldwell Banker Schmidt Traver

  0000 Lake Dr, Traverse City, MI 49685
• 

  

  /25

  $730,000

  • Land
  • 120 Acres
  • $6,083 per Acre

  2402 Sparling Rd, Kingsley, MI 49649

  Strategically located just outside the growing village of Kingsley quietly sits this expansive 120-acre. It is obvious that this was once an active farm. Time has erased most of the buildings long ago leaving now only the shell of the farm house and an old stone barn foundation & silo. I immediately noticed that the terrain is gently rolling with plenty of beautiful new home site locations.

  Steve Cavender Keller Williams Northern Michigan

  2402 Sparling Rd, Kingsley, MI 49649
• 

  

  /31

  $749,900

  • 2 Beds
  • 2 Baths
  • 1,635 Sq Ft

  400 W Front St Unit 9, Traverse City, MI 49684

  Experience the heart of downtown Traverse City from this stunning 2-bedroom, 2-bathroom condo perched above North Peak Brewing Company in one of the city’s most iconic brick buildings. With soaring ceilings and a spacious open-concept layout, this condo is perfect for entertaining or relaxing in style. Take in incredible views of Grand Traverse Bay and vibrant downtown through oversized windows,

  Matthew Dakoske REMAX Bayshore - Union St TC

  400 W Front St Unit 9, Traverse City, MI 49684
• 

  

  /33

  $599,000

  • 3 Beds
  • 3 Baths
  • 2,454 Sq Ft

  2664 E Crown Dr, Traverse City, MI 49685

  Play 18 at The Crown, then cruise home in your golf cart to this meticulously maintained 3-bed, 3-bath retreat on the 6th hole. Enjoy main-floor living with a private primary and en suite, a spacious deck perfect for sunset dinners, and a cozy den for movie nights. The lower level offers a walkout access deck with hot tub and plenty of unfinished space for storage. Just minutes from downtown

  Eric Senff REO-TCRandolph-233022

  2664 E Crown Dr, Traverse City, MI 49685
• 

  

  /12

  $2,332,000

  • Land
  • 58.3 Acres
  • $40,000 per Acre

  8433 Bates Rd, Williamsburg, MI 49690

  58.3 Acres Near Traverse City Horse Show – $40,000/Acre Rare opportunity to own 58.3 acres in the heart of Acme Township’s prized farmland conservation area—just 2 miles from the renowned Traverse City Horse Shows. Offered at $40,000 per acre, this versatile parcel can be divided into tracts as small as 20 acres, making it ideal for a range of agricultural or equestrian visions. Currently an

  Don Stewart EXIT Northern Shores Realty-ER

  8433 Bates Rd, Williamsburg, MI 49690
• 

  

  /14

  $1,100,000

  • Land
  • 10.4 Acres
  • $105,769 per Acre

  4513 Weathering Heights Rd Unit 1-4 +, Acme Township, MI 49686

  Welcome to Weathering Heights, a rare development opportunity in Traverse City offering five private, wooded parcels with beautiful elevated views of East Bay. Nestled in a quiet, natural setting, each lot offers a unique vantage point and the potential to build custom homes surrounded by mature trees and Northern Michigan’s natural beauty. Located just minutes from downtown Traverse City and a

  Bob Brick REMAX Bayshore - W Bay Shore Dr TC

  4513 Weathering Heights Rd Unit 1-4 +, Acme Township, MI 49686
• 

  

  /67

  $4,700,000

  • 11 Beds
  • 12 Baths
  • 6,233 Sq Ft

  18599 Mission Point, Traverse City, MI 49686

  Landmark commercial opportunity on Old Mission Peninsula. Available for the first time in decades, the historic Old Mission Inn offers an unparalleled chance to acquire a piece of Northern Michigan heritage in a truly exceptional setting. Located at the tip of the peninsula, just steps from Haserot Beach, this iconic property has served as a welcoming retreat and a cornerstone of the Old Mission

  Alexandra Burris REMAX Bayshore - W Bay Shore Dr TC

  18599 Mission Point, Traverse City, MI 49686
• 

  

  /67

  $4,700,000

  • Studio
  • 5,644 Sq Ft

  18599 Mission Rd, Traverse City, MI 49686

  Landmark commercial opportunity on Old Mission Peninsula. Available for the first time in decades, the historic Old Mission Inn offers an unparalleled chance to acquire a piece of Northern Michigan heritage in a truly exceptional setting. Located at the tip of the peninsula, just steps from Haserot Beach, this iconic property has served as a welcoming retreat and a cornerstone of the Old Mission

  Alexandra Burris REMAX Bayshore - W Bay Shore Dr TC

  18599 Mission Rd, Traverse City, MI 49686
• 

  

  /22

  $254,900

  • 2 Beds
  • 1 Bath
  • 784 Sq Ft

  5064 Cedar Condo Ct, Traverse City, MI 49684

  Welcome to this inviting 2-bedroom, 1-bath condo just minutes from downtown Traverse City. The open layout offers a bright, comfortable living space with plenty of natural light. Nestled in a peaceful setting near Long Lake, Twin Lakes, and nearby hiking trails, it's a great fit for anyone who enjoys the outdoors but wants to stay close to town. A great spot for easy, low-maintenance living in a

  Jamie Grace Century 21 Northland

  5064 Cedar Condo Ct, Traverse City, MI 49684
• 

  

  /26

  $365,000

  • 3 Beds
  • 1 Bath
  • 760 Sq Ft

  2341 Lakeview Ave, Traverse City, MI 49696

  Charming Modern Lake Cottage at Pineview Resort – Arbutus Lake, Traverse City Welcome to your Up North escape! This beautifully remodeled 3-bedroom, 1-bath lake cottage sits on the peaceful shores of Arbutus Lake 1 in the highly desirable Pineview Resort community, just minutes from downtown Traverse City. With 760 sq ft of thoughtfully designed living space, this home offers a perfect blend of

  Tom Yagle Traverse Real Estate

  2341 Lakeview Ave, Traverse City, MI 49696
• 

  

  /5

  $3,500,000

  • Land
  • 12.1 Acres
  • $289,256 per Acre

  6495 Idle Dice Dr, Acme Township, MI 49690

  This is an opportunity to own one of the few remaining vacant parcels in Grand Prix Village North, Northern Michigan’s premier gated equestrian community. This 12.1-acre parcel is located at the front of the development with convenient access to the showgrounds. It has a recently installed berm to ensure privacy, GGT all weather 150'x250' riding area and concrete tent pad. This parcel is ready

  Audra Jackson EXIT Northern Shores Realty-ER

  6495 Idle Dice Dr, Acme Township, MI 49690
• 

  

  /26

  $215,000

  • 1 Bed
  • 1 Bath
  • 554 Sq Ft

  4169 N Spider Lake Rd, Traverse City, MI 49686

  Discover this quaint and charming home on Traverse City’s east side, offering peaceful views and direct access to Spider Lake. Located in an area known for four seasons of recreation, you’ll enjoy boating, fishing, kayaking, snowmobiling, and more right out your door. This updated, move-in-ready retreat is perfect for year-round living or a weekend escape. A circle driveway offers easy access and

  Matt Geib Viewpoint Realty

  4169 N Spider Lake Rd, Traverse City, MI 49686
• 

  

  /26

  $9,950,000

  • Land
  • 5.03 Acres
  • $1,978,131 per Acre

  6625 Grand Prix Dr, Williamsburg, MI 49690

  Luxury equestrian facility in Grand Prix Village North, Northern Michigan’s premier gated equestrian community. This recently completed 10,858 sq ft custom barn by B&D Builders sits on a high-visibility lot with direct access to Flintfields Horse Park via private bridle paths, while still offering the privacy and security of a gated setting. The barn includes 22 stalls, 4 wash stalls, 4 grooming

  Audra Jackson EXIT Northern Shores Realty-ER

  6625 Grand Prix Dr, Williamsburg, MI 49690
• 

  

  /5

  $33,500

  • Land
  • 0.34 Acre
  • $98,529 per Acre

  lot B 3rd St, Interlochen, MI 49643

  Nicely wooded build site in the Village of Interlochen with mature trees. Walkability and convenience to all stores, restaurants and Interlochen Center for the Arts. Parcel "B" on Survey.

  Brian McAllister BOUWMAN REALTY GROUP

  lot B 3rd St, Interlochen, MI 49643
• 

  

  /25

  $269,900

  • 1 Bed
  • 1 Bath
  • 712 Sq Ft

  2305 N Us-31 Unit 400, Traverse City, MI 49686

  Condo with 200' of shared Grand Traverse Bay waterfront! Fully furnished 1BR/1BA condo, perfect for your Up-North hideaway or an excellent income generating potential with on-site rental management already in place. Gorgeous sandy East Bay beach, heated in-ground swimming pool, and a shared beach side deck are the highlights of this prime vacation property. This quiet, bungalow style penthouse

  Mark Hagan Coldwell Banker Schmidt Traver

  2305 N Us-31 Unit 400, Traverse City, MI 49686
• 

  

  /16

  $287,500

  • Land
  • 2.9 Acres
  • $99,138 per Acre

  0 Denali Dr, Long Lake Township, MI 49684

  Commercial vacant land property in Traverse City, Michigan. This prime parcel is build-ready with all engineering, site map, and construction plans for 60+storage units approved by Long Lake township already in place. Located just minutes from the bustling heart of downtown Traverse City and strategically positioned off M-72, accessibility is a key advantage. Situated within a dedicated

  Mark Hagan Coldwell Banker Schmidt Traver

  0 Denali Dr, Long Lake Township, MI 49684
• 

  

  /14

  $175,000

  • 1 Bed
  • 1 Bath
  • 354 Sq Ft

  5619 E Creeks Crossing, Williamsburg, MI 49690

  A waterfront condominium community, The Shores features 150 studio, one and two bedroom units in a natural wooded setting sharing 600 feet of sandy East Grand Traverse Bay shoreline. Each condo has a private deck with either water or woodland views. Enjoy summers at the Beach Club lounging at the pool and jacuzzi with nightly entertainment while generating rental income in the Resort Rental

  John Ammar Keller Williams Northern Michigan

  5619 E Creeks Crossing, Williamsburg, MI 49690
• 

  

  /11

  $175,000

  • 1 Bed
  • 1 Bath
  • 354 Sq Ft

  5631 E Creeks Crossing, Williamsburg, MI 49690

  A waterfront condominium community, The Shores features 150 studio, one and two bedroom units in a natural wooded setting sharing 600 feet of sandy East Grand Traverse Bay shoreline. Each condo has a private deck with either water or woodland views. Enjoy summers at the Beach Club lounging at the pool and jacuzzi with nightly entertainment while generating rental income in the Resort Rental

  John Ammar Keller Williams Northern Michigan

  5631 E Creeks Crossing, Williamsburg, MI 49690
• 

  

  /8

  $184,900

  • Land
  • 17 Acres
  • $10,876 per Acre

  17+Acres Marsh Rd, Kingsley, MI 49649

  PEACEFUL & PRISTINE HI/DRY PARTLY WOODED 17+ ACRES OF UNSPOILED SANCTUARY LAND W/ NO DEED RESTRICTIONS! POLE BARNS & farm animals allowed. Surrounded by hi-quality newer construction homesteads & only 15 miles/minutes into all that TC has to offer!! 660' +/- road frontage & going back approx 1/4 mile full of nature & wildlife. Plenty of room for big garden/deer plot toward back of the property &

  Carol Franklin Bayshore Group Realty

  17+Acres Marsh Rd, Kingsley, MI 49649
• 

  

  /26

  $359,900

  • 3 Beds
  • 2 Baths
  • 1,344 Sq Ft

  3874 Falling Leaf Trail, Traverse City, MI 49686

  There is NO WHERE you can find a new house for this price!!! Check out this beautiful NEW home with 3 BR's, 2 BA's all on an unfinished daylight basement! Relax on the covered front porch and enjoy the sunsets. Master suite features a private bath with double vanities, linen closet and walk-in tiled shower with glass door. Luxury vinyl plank flooring graces the entire main level except for

  Teri Miceli-Wolff Wolff Properties

  3874 Falling Leaf Trail, Traverse City, MI 49686
• 

  

  /67

  $3,250,000

  • 4 Beds
  • 3.5 Baths
  • 4,506 Sq Ft

  2755 Shorewood Dr, Traverse City, MI 49686

  Experience the ultimate lifestyle on West Grand Traverse Bay! This property boasts a sandy beach and an impressive 100 feet of private direct water access. Enjoy breathtaking sunsets and expansive water views from nearly every corner of this stunning 4 bedroom, 3.5 bath Craftsman home, which offers spacious living areas and high-end finishes. Perfect for hosting gatherings, the layout provides

  Debra Hall REO-TCRandolph-233022

  2755 Shorewood Dr, Traverse City, MI 49686

Showing Results 441 - 480, Page 12 of 18