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 80 fe flo ro be E $6 ht 63 M B Fa S Fa E $3 h