The Demand for Single-Story Home Construction Increases
/in National, SE Michigan /by Tracy WillisNew single-family housing construction in the Great Lakes region is following a nationwide trend. For the last 4 years, the number of single-story homes being built has gradually increased. The number of two or more storied homes has been decreasing. Although single-story homes are more expensive to build, they appeal to older home buyers who have more money to spend as they downsize their homes. That makes single-story sites very lucrative.
Justice Department Sends Antitrust Signals
/in National /by Tracy WillisThe Justice Department backed out of a proposed settlement with the National Association of Realtors in regards to real-estate agents’ high commissions. Although in the past, the government has brought antitrust cases and then decided to dismiss them, they have never agreed to a proposed settlement and then backed out. There’s speculation that this is a signal from Washington that antitrust enforcers are ready to address the exorbitant brokerage costs that American homeowners pay, often 2 to 3 times higher than the rest of the developed world.
Tenants Terrorize Landlord: No Eviction In Sight
/in National /by Tracy WillisQueens, New York landlord, Vanie Mangal, spends her days supporting Covid 19 patients and her nights facing harrassment from her tenants. Some of her tenants haven’t paid rent in over 15 months, and she has lost over $36,000 in rent. They’ve also destroyed or damaged her personal property. The federal government and the state of New York imposed eviction moratoriums. The moratoriums have hit small landlords especially hard. An estimated 28 percent of New York’s 2.3 million rental units are owned by landlords who have fewer than five properties. Landlords can seek pandemic financial assistance, but the aid is too slow, and it comes with certain strings attached that limit the actions the landlord can take against unruly tenants.
Challenges Continue With Traverse City’s New Construction Market
/in Northern Michigan /by Tracy WillisHomeowners who want to build in the Traverse City area are facing hurdles. They need to come with cash, a buildable lot, a contractor with a pool of skilled tradesmen, and then more cash to offset the increase in building materials. There has been a 250% increase in lumber prices. The annual average increase is between 3 and 7 percent. Many construction companies are booked months ahead. Those that are available for work are struggling with supply chain issues. Workforce issues also contribute to construction delays.
Home Furnishing Store Slated for Birmingham
/in SE Michigan /by Tracy WillisBirmingham’s planning board voted to recommend approval of a final site plan and special land use permit for a building that will house RH, an upscale home furnishings store. Formerly known as Restoration Hardware, the store will be housed in a new four-story building on the southwest corner of Old Woodward Avenue and Brown Street. Buildings on that site, at 300-394 S. Old Woodward Avenue, will be demolished to make room for the 54,000 square-foot building. RH will be an anchor tenant in the building. A restaurant will occupy the top floor.
Shipping Companies Find a Home in Romulus
/in SE Michigan /by Tracy WillisLogistics businesses are moving into Romulus, bringing more than 500 jobs to the area. The Ecorse Commons Industrial Park, near Detroit Metropolitan Airport, houses Hearn Industrial Services, Pitney Bowes, DHL, LaserShip and Lowes Inc. With e-commerce taking off, it joins another million square feet of warehouse space that has been built in Romulus in the past couple of years. The city of Romulus credits the developments to its streamline approach to permits and approvals, as well as the proximity to both Detroit Metro and Willow Run airports.