Your wild home-buying, selling stories: These 17 help paint the picture
We’ve all heard about it by now: Houses are selling like crazy (and they have been for quite some time now), interest rates have been at all-time lows, and it seems like everywhere you turn, you learn of another wild real estate story.
You paid HOW much over asking? Tell us your wild housing market stories here
We’ve all heard about it by now: Houses are selling like crazy (and they have been for quite some time), interest rates have been at all-time lows, and it seems like everywhere you turn, you learn of another wild real estate story.
A look at Metro Detroit’s hot real estate market
Real estate agents claim offers come flooding in within hours of a new listing. While sellers are reaping the rewards, buyers are having a hard time to get their foot in the door. RELATED: Metro Detroit real estate market: Buyers beware in spring-summer 2021For those house hunting, they already know the struggle. Dan Elsea, with Real Estate One, said it’s the best time to sell a home in Michigan in nearly 40 years. More: Real Estate news
Metro Detroit real estate market: Buyers beware in spring-summer 2021
Real estate during the pandemic has been a challenge in itself, but now there’s a new challenge: Inventory lows are now down to a one-month supply. You also have had existing homeowners that have taken advantage of the low interest rates and have refinanced,” said Schneider. Macomb County homes are selling the quickest, selling in less than a month on average. “It’s been a bit of a tightrope act, you know, as far as do you buy first and then put your house on the market? In this market, you can probably get away with that as a buyer-seller a little bit easier -- go find what you like, put your offer on that.
Take a look at this new boutique rental community near Michigan Stadium in Ann Arbor
ANN ARBOR – A new boutique-style apartment community steps away from Michigan Stadium and downtown Ann Arbor has begun pre-leasing units with an anticipated move-in by Spring 2021. Hoover + Greene offers 167 units ranging from studios to two bedroom apartments. Hoover + Greene has plans to open a retail space on the ground level. PricingStudio: $1,825One bedroom unit: $2,115Two bedroom unit: $2,895Prices may vary based on location and unit amenities. A common area at Hoover + Greene in Ann Arbor.
Charming home steps away from downtown Ann Arbor hits market
ANN ARBOR – This three-bedroom, 1.5-bath home at 722 W. Washington St. is on the market for $420,000. Read: Ann Arbor realtors weigh in on real estate during pandemicOne block from the Ann Arbor YMCA, this home is steps away from all the amenities downtown Ann Arbor has to offer, including Argus Farm Stop, Downtown Home and Garden, Blank Slate Creamery and more. Living room at 722 W. Washington St. in Ann Arbor. (Stylish Detroit)Kitchen at 722 W. Washington St. in Ann Arbor. (Stylish Detroit)Master bedroom at 722 W. Washington St. in Ann Arbor.
Property values go up in nearly every Detroit neighborhood
DETROIT – Officials with the city of Detroit announced Thursday that property values increased an average of 8% for the city. Still, there are those who think the assessing process is weighted against the city’s poorest, and Duggan is challenging those claims. “Property values in the city went up 8% last year,” Duggan said. Duggan presented a map of Detroit where green areas meant increased values and red meant decreased. Detroit is a unique market and you can’t get those nuances simply from a sales study.”The official data from the city of Detroit can be found here.
10 most-read All About Ann Arbor stories of 2020 that weren’t COVID related
The Juneteenth March for Change drew hundreds to the Diag on the University of Michigan's downtown Ann Arbor campus. We’re taking a look at the most-read stories on All About Ann Arbor this year, minus COVID-19 related coverage (because we’re making another list for that). Driver killed, passenger extracted after car vaults from ditch into Ann Arbor WalgreensFrom December: On Dec. 24, an 82-year-old Ann Arbor man was killed when the car he was driving “vaulted” from a ditch into a Walgreens in Ann Arbor. The man was killed and an injured passenger, a 77-year-old Ann Arbor woman who was “significantly pinned” in the vehicle was extracted after 45 minutes. Ann Arbor police on scene of barricaded gunman situation at apartment complexFrom February: On Friday, Washtenaw County Sheriff’s Office deputies responded to multiple reports of shots being fired in the Hidden Valley Club Apartments in Ann Arbor.
How non profit National Faith Homebuyers helps families purchase home
I wanted to own something," Dina HarrisThat’s the reason Harris started National Faith Homebuyers, a faith based non profit in Detroit. Now, 24 years later, national faith homebuyers places anywhere form two to three hundred families in a home to call their own every year. National Faith Homebuyers can help you overcome any obstacle to homeownership. With offices in Downtown Detroit, Westland and Atlanta, National Faith Homebuyers has helped people all across Metro Detroit and beyond get into a home. We don’t care!”For more information on National Faith Homebuyers, go here.
Best places to live: Where Michigan’s 6 largest metro areas rank
Where do Michigan’s largest metropolitan areas rank among the best places to live in America? U.S. News & World Report released their annual Best Places to Live list, ranking the 150 most populated metro areas in the country. News & World Report’s Best Places to Live rankings are intended to help readers make the most informed decision when choosing where to settle down. 1 best place to live in Michigan and No. 2 best place to live for quality of life.
LoanSense to host free student debt, mortgage loans webinar Oct. 22
ANN ARBOR, Mich. – Ypsilanti-based LoanSense has partnered with loan officer JoJo Dries to help community members learn how their student loans are preventing them from qualifying for a home loan. At noon on Oct. 22, individuals can attend the free “When your Student Loans Disqualify you from a Home Loan: Answers and Solutions” webinar to figure out how student loans impact homeownership. The webinar will be part seminar, part Q&A session so attendees are encouraged to bring questions. “As a loan officer, I am always looking for new ways to help my clients. LoanSense has been using customized solutions to help student loan borrowers qualify for mortgages by acting as a personalized student loan advisor.
Expert calls Detroit housing, rental market ‘kind of wacky right now’
DETROIT – If you’re looking to buy or rent a house in Metro Detroit, you already know you need to act fast and be ready to pay. There are some major factors leading to a booming rental market, especially in the suburbs of Detroit. But there’s also nuance to consider, as the entire housing market is changing right before our eyes. “The market is kind of wacky right now,” Carberry said. I guess the weirdest thing about Detroit right now is it’s following a normal trajectory we would expect in a non-pandemic year.”Many renters are searching for a new home and finding the process infuriating.
$36M mixed-income development breaks ground in Detroits Midtown
DETROIT A $36 million mixed-income and mixed-use development has broken ground in Detroits Midtown. At Develop Detroit, we believe in high quality housing for all, said Sonya Mays, president and CEO of Develop Detroit. Sugar Hill District development renderings. Freelon whose works include the Smithsonian National Museum of African-American History and Culture in Washington and Atlantas National Center for Civil and Human Rights passed away in 2019. HRD is committed to ensuring that Detroits renaissance includes a place for everybody, and we are proud to partner with Develop Detroit and POAH on this important project.
Ann Arbors 4M campus to mix health living, working and mobility practices
ANN ARBOR, Mich. Leverage the share economy while saving money and living with your team in Ann Arbors latest collaborative space. 4M, pronounced forum, blends coworking, co-living and healthy collaboration together in Ann Arbors Lower Burns Park neighborhood. Residents can enjoy the bonuses of the share economy while living and working in a space focused on healthy collaboration. A rendering of a workspace at the 4M campus. He doesnt anticipate all of the campus townhomes to be fully booked right away, so suites can be set aside for isolation or quarantine if needed.
2000 Division in Detroits Eastern Market to be renovated, used as modern office space
DETROIT 2000 Division, just east of the Dequindre Cut in Eastern Market, will become a multi-level office space and is expected to be completed by the end of 2020. The existing building had different sections built at different times from the 1920s to the 1950s. It has been vacant for several years, and has previously been used for food processing and more recently a property restoration company. FIRM Real Estate will relocate their headquarters from Troy to become the anchor tenant of the project. This is a very creative project, which makes it so special for Detroit, said Marvin Beatty, partner at FIRM Real Estate.
Ann Arbor realtors weigh in on real estate during pandemic
ANN ARBOR, Mich. Combined, Tammi Ebenhoeh and her daughter, Alexa Ebenhoeh, have 22 years of experience in real estate around Ann Arbor, but neither expected the changes theyve seen in the market during the COVID-19 pandemic. Through this pandemic, it made me realize that real estate is essential. Housing is a need, not a want, said Alexa, a Charles Reinhart Realtor based in Ann Arbor. While people are rushing to buy homes, both Tammi and Alexa said that theyve seen a lot of deals be dropped. As for what the future of the Ann Arbor real estate market looks like, neither of the realtors is sure.
University of Michigan Ross School of Business to receive $6 million for diversity initiative
ANN ARBOR, Mich. The University of Michigan Ross School of Business is expected to receive a $6 million donation for its diversity, equity, and inclusion initiative. This will include students from low-income who are interested in a career in investing or real estate through the Michigan Ross School of Business. The Blau Initiative will also integrate existing U of M and Michigan Ross School of Business initiatives. This summer I announced a Commitment to Action related to diversity, equity, and inclusion at Michigan Ross, and one of our commitments is to expand support for students from diverse backgrounds at the school, Michigan Ross Dean Scott DeRue said. This new gift from Stephen Ross and Jeff Blau will help Michigan Ross create opportunities for students who are underrepresented in business leadership.
How a Michigan woman went from federal prison back to running her own business
DETROIT A Michigan womans path took her from real estate success to federal prison -- but that sentence wasnt the ending of her story. She was caught up in a scandal of her own making in 2008 as a building real estate mogul. Federal authorities caught on to her scheme and she was sentenced to federal prison. Now, she has left behind her rap sheet and gone back to real estate building numerous revenue streams. Her real estate company has sold more than 600 properties.
Detroit mayor, leaders to break ground on redevelopment of abandoned building
DETROIT Detroit Mayor Mike Duggan and other leaders will join developer W. Emery Matthews and Real Estate Interests at 1 p.m. Tuesday to break ground on the redevelopment of a long-abandoned multifamily building in the citys Hubbard Farms neighborhood. Twenty-five percent of the units in this neighborhood will be reserved as affordable housing. The project is part of the Duggans $56 million Strategic Neighborhood Fund initiative.
Hard times hitting home? Here are ways to avoid foreclosure amid pandemic
As soon as you realize you might have trouble making your mortgage payments, you’ll want to get in touch with your lender. You do not want to wait until you can’t pay your bills to contact your lender. If foreclosure is something you fear you might face, the following are options you may have available to you. Mortgage forbearanceAccording to USA.gov, federally backed home loans can get six months of mortgage help, and Federal Housing Administration reverse mortgages are eligible, as well. There are many options available to you, but the bottom line is: Contact your lender, and do not wait until it’s too late.
Despite unemployment, Metro Detroit real estate market booming
During the COVID-19 crisis, weve all been forced to stay home a lot more and that has folks rethinking about where that home should be. Metro Detroit real estate agents claim business hasnt slowed down one bit. In the last two months, unemployment has been at an all-time high, so youd think people would stop buying homes like they did in past recessions -- but its actually the opposite. Real estate agent Nick Sloney said when the stay-at-home order was lifted, the market picked up immediately and that its a different kind of recession. Another reason people are eager to buy is the mortgage rates are at an all-time low.
Builders concerned as construction resumes in Michigan
DETROIT – As part of the plan to reopen Michigan’s economy in phases, construction businesses began to reopen Thursday. Gretchen Whitmer signs executive order to resume construction, real estateIt’s good news for construction and trade workers, but employees aren’t flooding back to job sites just yet because their work is now scheduled apart. Mike Magnoli, with Michael Angelo Construction, said the job isn’t the same with only four people allowed inside a home at once. “We lost the two months," Magnoli said. The can do work electronically, but builders say that can take much longer than usual.
Residential construction resumes in Michigan
WIXOM, Mich. – As part of the plan to reopen Michigan’s economy in phases, construction businesses began to reopen Thursday. Gretchen Whitmer signs executive order to resume construction, real estateMichigan construction companies can resume commercial and residential work, real estate agents can start showing homes again in person and other outdoor jobs are allowed to bring employees back. Every business is different and will have its own changes in policies to keep everyone safe from COVID-19. Additionally, companies are limiting the amount of workers inside buildings with some businesses having more strict rules than others. It’s expected to be a much slower process to build a home than it has been before.
Michigan real estate industry resumes in-person home tours, sales with COVID-19 precautions in place
DETROIT – In-person home sales resume Thursday, but the coronavirus (COVID-19) pandemic has changed the real estate industry. New precautions will in place when Michigan real estate agents get back to seeing clients. Gretchen Whitmer signs executive order to resume construction, real estateSherice Orzechowshi, with Monzo Group Realty, said she will be able to see four clients at a time, with everyone maintaining 6 feet of distance. Monzo Group Realty owner Erick Monzo said his business made changes early on to be prepared. The real estate agency resuming has been a sign of hope for other workers after the COVID-19 pandemic shuttered numerous businesses and halted many industries.
Ready to tackle home improvement projects now that you finally have some time? 5 tips
More time at home has turned into more of an opportunity to do various home improvement projects, although that sometimes can be dangerous. Scott Frankel, co-president of Frankel Building Group in Texas, offered five tips for those who are currently attempting or about to start home renovation projects while quarantined. They aren’t things that are going to necessarily wow your neighbor, but they need to be done.”Don’t bring in outside workers. It’s a real easy way to throw your back out or slip off of a ladder.”Clean out items you don’t need anymore. “When you go to a professional and you say that this is what you want to do, your ideas are organized,” Frankel said.