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South Lyon Golf Course Proposed for Single-Family Development
/in SE Michigan /by Tracy WillisDevelopers presented a conceptual plan to put 182 single-family homes the site of the 160-acre Cattails Golf Club in Lyon Township. The golf course has been a part of the community for more than 30 years. Brothers Mario, Frank and Tony Moscone owned and operated the golf course. With Mario and Frank’s deaths, Tony Moscone wants to make the property attractive to a diverse group of people. The property is directly across from the Woodlands of Lyon, a planned 103-home development. The proposed single family properties will have lots of 55 and 65 feet. More than half of the land would be preserved as open space in the conceptual plan, doubling the density allowed by ordinance. According to planner Brian Keesey, the planning commission has already voiced their objections.
Pending Home Sales in Steep Decline
/in National /by Tracy WillisPending home sales are often considered as a leading indicator of existing-home purchases. For the sixth month, U.S. pending home sales fell in November to the second-lowest on record. Higher borrowing costs and economic uncertainties continue to exclude many potential buyers out of the market. The National Association of Realtors index of contract signings to purchase previously owned homes took a hit. The index decreased to 73.9, exceeding estimates in a Bloomberg survey of economists. The doubling of borrowing costs, from the start of 2022 to present, has caused home sales and prices to decline. A University of Michigan survey indicates that current home-buying conditions are worse than the early 1980s.
Metro Detroit Tops Most Expensive Home Sales in 2022
/in Detroit, SE Michigan /by Tracy WillisMetro Detroit had some of the most expensive home sales in 2022. The Bloomfield Hills home at 780 Vaughn Road features classic French chateau design. It sold for $6.125 million. Its location on more than 3 acres by Cranbrook was a selling point. The property at 4890 Birchway Drive in Orchard Lake Village boasts more than 10,000 square feet and 109 feet of Orchard Lake frontage. It features a bedroom suites, a guest room over the garage, a theater room, wine cellar and patio with outdoor gathering area. The home sold for $5.6 million in less than 48 hours. The home at 7420 Inner Circle Drive in Bloomfield Township sold for $4.9 million. It includes 11 acres with a river and a chicken coop. A large garden, theater room, and a lower level entertaining space with a second kitchen and bar were big selling points. The Fisher Mansion is the most expensive house to sell in Detroit’s history. Located at 1771 Balmoral Drive in Detroit, the home includes entertaining space, a library, 15 bedrooms and more than 20,000 square feet. Other properties in Bloomfield Township, Oakland Township and Birmingham sold in the range of $4.3 to $5 million.