Sellers Continue to Have the Upper Hand
/in SE Michigan /by Tracy WillisSellers continue to have the upper hand in the real estate market. A shortage of homes has contributed to the current state. In March 2021, the average seller in metro Detroit received 100 percent of the asking price. Often, sellers received well over their asking price. Sellers continue to contend with dozens of offers that include a variety of contingencies and perks. Buyers are in a bind trying to find homes within their price ranges and are often forced to make concessions on things they want.
Oakland County’s Luxury Housing Boom
/in SE Michigan /by Tracy WillisOakland county’s luxury housing market is booming. With stronger prices and quicker sales, 70 homes listed at $1 million and higher have gone pending in Oakland County in past 30 days. Post pandemic, buyers are wanting a lifestyle upgrade. Instead of world travel, buyers are sinking their money into their homes. Currently, Birmingham has the highest price per square foot in Michigan.
Lobbyists Push to Ease Gravel Mining Restrictions
/in Northern Michigan, SE Michigan, Western Michigan /by Tracy WillisGravel 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.
Building Permit Application Lets The Cat Out Of The Bag
/in Detroit /by Tracy WillisBecause of a building permit application, the Apple Developer Academy’s future site is finally public knowledge. The Apple Developer Academy is going into the 850,000 square foot National Building in downtown Detroit. It will be located on the second and third floors of the building. Based on permit cost, construction is estimated to be $1.41 million. The program will cover coding, design and entrepreneurship.
Development Proposed For St. Vincent & Sarah Fisher Property
/in SE Michigan /by Tracy WillisThe history St. Vincent and Sarah Fisher property in Farmington Hills may soon be repurposed into a two-story, 140-bed nursing facility and 3 three-story multi-family apartment buildings. Novi-based Optalis Healthcare would keep the existing administration building and one of the other smaller buildings. It would also leave 7.5 acres of open space on the property. Nearby residents have voiced concerns that the three-story apartment buildings would clash with the nearby residential areas. The site has been vacant since 2005.
Tourist Destination Struggles to Maintain Workforce
/in Northern Michigan /by Tracy WillisA vibrant tourist destination, small town Charlevoix is struggling to recruit workers. Upward pressure on rent and home prices is scaring workers off who can’t find affordable year-round housing. The two hardest hit groups are workers who make less than $26,000 a year and professionals who make between $70,000-$100,000 a year. Rentals are scarce, as are affordable homes for sale. Recent efforts to convert part of a golf course into affordable year-round housing was voted down by residents.