Affordable Housing Options Scarce in Michigan

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According to a report released by the National Low Income Housing Coalition, a two-bedroom apartment in Michigan is unaffordable for minimum wage renters…unless they work 77 hours a week. Affordable housing was an issue prior to the pandemic, and the economic upheaval has only made it worse. Lawmakers are doling out billions of dollars in emergency rent aid, but experts agree that this is only a short-term fix. Communities need more affordable housing options. With the eviction moratorium expiring, evictions are expected to increase, making it tougher still for displaced tenants to find a place to live. Governor Whitmer plans to use $100 million in federal COVID-19 relief dollars to create 2,000 new affordable rental homes, with funds going toward grants and loans for development, preservation of existing housing and security deposit assistance.

 

 

 

Outdoor Living Spaces Tip the Scales

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Outdoor living spaces are a tipping point for homebuyers. Buyers are looking to entertain family and friends in pandemic-proof ways. Home owners want access to golf courses, larger yards, attractive landscaping, and outdoor rooms. Previously buyers may have bought a cabin in northern Michigan, but now they want everything just steps away.  People are focusing on updating and upgrading their outdoor spaces as much as their indoor spaces. Lakefront property is hot right now. Listed lakefront houses and condos are on the market for about 18 days.

 

Buyers Continue Bidding Wars

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It continues to be a “dog-eat-dog” world for home buyers. Brokers advise clients to get pre-approval, save, and have some cash to bring to the table. Many home buyers are waiving home inspections, bidding before seeing the home, paying cash, and paying thousands over the asking price to get to the closing table. With more buyers than sellers, the competition is vicious with the average home going for $10,000 over the asking price. Appraisal guarantees are deal-makers, and buyers will have a hard time winning a bid without one.

 

 

Study Takes Aim at Home-Grown Marijuana Market

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Much of Michigan’s marijuana industry is outside mainstream retail outlets. The Michigan Cannabis Manufacturers Association commissioned a study says that millions in taxes and fees could be captured from illicit marijuana markets. While there is no current legislation concerning home cultivation, the information from the study will be used to inform legislators in Lansing. It’s speculated that the MCMA may seek to change the state law passed in 2018 in order to upend the home cultivation rules. The interest is in bulking up the legal retail market and tax revenue.

 

Cannabis Company Opens in Saugatuck Township

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The New Standard cannabis company has moved into a newly built retail store in Saugatuck Township. The new site is the company’s 6th dispensary in West Michigan and seventh store across the state.  Located at 6406 Blue Star Highway, it carries more than 275 products for retail and curbside service. The company opened its first location in Hazel Park in April 2020. New Standard recently acquired Agri-Med LLC which was operating three dispensaries in Muskegon, Edmore and Nunica.

Second “First” Home Buyers Accelerate Home Prices In Southwest Michigan

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A beachfront house in New Buffalo will set a new record for Southwest Michigan.  It will be the fourth home in New Buffalo to sell for $4 million or more in the past year. The real estate boom in Southwest Michigan is not only at the upper end of the market. Along the 16-mile strip of shoreline towns from New Buffalo to Bridgman, home sales were up 48 percent in the first quarter of the year from the same time in 2020. Buyers aren’t necessarily buying vacation homes. They may keep their first residence in another city, but think of New Buffalo as “home” for now as they wait to see how things play out with the pandemic. New Buffalo is seeing an influx of buyers from Indiana and the Chicagoland areas.

Short-term Home Rentals Create Debate

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Two Michigan bills that address short-term home rentals have created intense debate about who will determine how to regulate dwellings like Airbnb or vacation rentals. The Ann Arbor-based Michigan Municipal League and Lansing-based Michigan Association of Realtors are on opposite sides with each asking its constituents to email, call and write to their local legislators about the bills. Under the bills, a short-term rental would be a residential use of property. It would be a permitted use in all residential zones. It would not require a special use or conditional use permit, and it would not be a commercial use of property. Opponents of the bills call them a “cookie-cutter approach” to legislation that ignores the different needs of Michigan communities.

 

Michigan Legislature May Nix Short-Term Rental Laws

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Bills in the Michigan legislature that have bipartisan support would nix local laws that ban or limit short-term rentals through zoning. The bills are controversial and have garnered heated debate. Proponents like Airbnb, realtors, and lawmakers from both parties say the proposed changes to state law are about personal property rights and do not prevent cities from regulating short-term rentals. Opponents, which include leaders from cities all over the state and hoteliers, say they do not support an outright ban on short-term rentals. They feel that local leaders should have the power to decide what rules are most effective for their communities.

Human Migratory Habits Change Post Pandemic

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Although offices are beginning to reopen as vaccinations climb, many employers are still allowing employees to work remotely from home indefinitely. Those who are able to continue working remotely at least part of the time are heading for greener pastures, literally. Real estate company Redfin reported this month that online searching for homes in suburbs and rural areas has increased since the first quarter of 2020 in most major U.S. metro areas. Before the pandemic, a bigger house might not have seemed worth the commute, but if that commute is cut down to 1-2 days a week, the story changes.

Lobbyists Push to Ease Gravel Mining Restrictions

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Gravel miners and other business groups are pushing to make it easier to open sand and gravel mines in residential areas. Senate Minority Leader, Jim Ananich, is sponsoring a package of bills that a senate committee will consider on Thursday. The bills would take the approval of gravel mining permits away from local governments and give it to the Department of Environment, Great Lakes and Energy (EGLE). Critics say this would result in the dust and noise of gravel operations coming to many Michigan residential neighborhoods.