Michigan Real Estate News

Timely  |  Relevant  |  Informative

Michigan’s Vacation Home Market Is Hot

/in /by

Demand for vacation homes is just as strong as the market for first homes. During the first half of 2021, vacation home sales jumped more than 57 percent when compared with 2020. Several counties in Northern Michigan are considered “vacation home counties,” which are counties with 20 percent or more of their housing inventory listed as seasonal. Leelanau County is a prime example. The average home price in the first quarter of this year jumped to $779,960 from $494,649 in the same quarter of last year. A more shocking comparison can be made when the average home in Leelanau County sold for $274,831 in 2012!

 

Up-North Brewing Company Buys Inn To House Employees

/in /by

A lack of affordable housing in northern Michigan is cramping the style of northern Michigan’s businesses. Short’s Brewing Company needs to hire summer workers, but future employees have nowhere to live.  In a creative problem-solving move, the brewery bought the Bellaire Inn and is converting and updating the 26 units as space for its incoming hires. They’ll offer local businesses an opportunity at the remaining units.  Each unit will be fully furnished with a bathroom, fridge and microwave. All utilities will be included. The brewery will hire a full-time, on-site inn keeper.

Utility Companies Seek Land For Solar Farms

/in , , , , /by

Michigan utility companies are securing real estate to expand their solar energy generation capabilities as consumer demand accelerates. DTE Energy Co. needs 20,000 to 35,000 acres of southern-facing flat land to erect solar arrays over the next 10-15 years. Consumers Energy Co. currently generates 40 megawatts of electricity from solar and plans to be at 8,000 megawatts by 2040. That will require between 40,000-56,000 acres of land. Customer demand and land usage is a balancing act that Lansing policymakers haven’t yet addressed. Industry leaders anticipate some community resistance.