Real Estate »
NEW HOME PERMITS INCREASE IN JUNE
BUT TRAIL EXISTING HOME SALES SURGE
B
ased on residential
permit data compiled
by the Home Builders
Association of Southeastern
Michigan (HBA) and reported in
the HBA Southeastern Michigan
Residential Building Activity
Report, a total of 452 single-
Michael
family permits were issued in
Stoskopf
Macomb, Oakland, St. Clair and
Wayne counties in June 2016.
The single-family permit total was more
than 6 percent higher than May 2016 and
reached the highest single-month total
since October 2015.
Despite this modest increase, the lag in
new, single-family home permits remains
puzzling when taken in the context
of existing home sales in the region.
Based on data compiled from
REALCOMP, the number of exist-
ing home sales sold in June 2016
reached its highest single month
total (6,202) since 2006.
“With the summer home-buying
season clearly in full swing, the pace
at which single-family real estate
is moving — combined with very
limited inventory — would historically
mean new home construction should be
going gangbusters,” according to Michael
Stoskopf, CEO of HBA of Southeastern
Michigan. “However, that is clearly not the
case, at least not yet.”
The number of people employed in the
four-county region reached its highest point
(1.823 million) since January 2008, at the
start of the nation’s Great Recession. June
2016 also set a record for Trailing 12-Month
North American Vehicle Production, reach-
ing 18.2 million units, exceeding the previ-
ous record of 18.1 million set in June 2000,
according to data compiled from Ward’s
Automotive, dating back to January 1985.
Meanwhile, the 30-year fixed rate mort-
gage lending rate remains at nearly its low-
est level in 45 years.
With these key economic factors in mind,
Stoskopf is optimistic. “It is quite possible
that permit activity in the next quarter will
hold a pleasant surprise as buyers place
orders for new homes due to low inventory,
low interest rates and a better employment
picture.”
*
DOWNTOWN ANN ARBOR ‘MOST WALKABLE‘ IN MIDWEST
A
Washington Street looking east to
Main Street
South University Avenue caters to
young people.
ccording to real-estate website Redfin.com, downtown Ann Arbor is the most walkable
neighborhood among mid-sized cities in the Midwest.
“Adjacent to the University of Michigan campus, and in one of America’s classic college
towns, downtown Ann Arbor is Redfin’s most walkable mid-sized Midwest neighborhood,” the web-
site stated. “Long known as the place to be before and after Wolverine games at the Big House, the
neighborhood also has cultural spots like Michigan Theater and the Hands-on Museum for kids. For
suds and eats, try the Arbor Brewing Company or the Blue Tractor. Or, for the best deli food you’ll
ever have, venture a few blocks north to Zingerman’s.”
*
Extraordinary Excellence
With a European Flare
Historic Home in
Farmington Hills
Alexander Bogaerts designed this magnifi cent
estate and European craftsman saw to the details!
Incredible Private Lot backing to nature, wrap
around deck, gorgeous landscaping. Cooks
kitchen with double ovens, granite, center island.
Great rooms for entertaining throughout including
sunroom with high ceilings, a wonderful walkout
complete with Kitchen, Family Room, Bedroom
and Full Bathroom, hot tub and full bar! The
Family Room, Library, Great Room & Kitchen all
have Fireplaces. There is also a room above the
garage just waiting for those fi nishing touches,
perfect for an older child living at home, au pair,
or mother in law suite!
This magnifi cent 4.6 acre estate was
designed by the famous Michigan architect
Marcus Burrowes, as his personal residence,
and has been restored to beyond it's
original brilliance. The unique French manor
is situated on a bluff overlooking the Upper
Rouge River and Quaker Valley and borders
over 200 acres of woods and valleys
of Heritage Park. New gourmet kitchen,
master bedroom suite with fi replace and his
and her baths, a beautiful observation deck
overlooking the river, a wonderful covered
sunroom and much more.
LINDA
SINGER
32 August 4 • 2016
Multi-Million
Dollar
Producer
Pebble Creek 3
West Bloomfield
Farmington Hills Schools
Spacious 4-bedroom home in desirable
Franklin Valley Sub. UPDATES GALORE
including windows, doors, concrete
patio driveway and more. Terrifi c
curb appeal on beautiful lot with brick
pavers and courtyard. Bright open
fl oorplan with 1st fl oor laundry. Large
picture window in living room and
dining room with room for everyone
to enjoy. GREAT HOME....GREAT
SUBDIVISION. What a value at
$239,900!
COMING SOON!
Coming Soon
Pebblecreek Phase III Ranch Condo
Private End Unit
$250,000
6960 Orchard Lake Rd.
West Bloomfi eld
lindasinger@sbcglobal.net
248.752.4211
Real Estate
All Star
2114670
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