THIS IS US
5,000 PERMITS/YEAR APPEARS TO BE OUR NEW NORMAL
A couple of weeks ago, the Detroit Free Press turned their Sunday spotlight on the state of new construction in Southeast Michigan, with the headline “Homebuilding hit a plateau in Detroit” and citing the reasons why building in the region has slowed since the early 2000s.
Quoting some of our colleagues and BFF’s (you know who you are), they isolated 6 reasons why we’ve seen permits drop from a pre-recession high of roughly 13,000/year, to where we’ve been the past several years which is around 5,000/year:
Slower population growth; fewer builders, contractors, and skilled trade workers; lack of available financing for larger developments/subdivisions; lack of land in desirable communities; the cost to add water and sewer to rural developments; pandemic-related supply chain issues and skyrocketing labor/material costs.
All in all, pretty accurate. To give the current numbers a little context, older midwestern cities featuring similar long-established rings of suburban communities like Minneapolis and Chicago are in the 8,000 – 11,000 permits/year range, while smaller “emerging” midwestern cities like Indianapolis and Columbus are in the 5,000 – 8,000 permits/year range.
The guys were also shocked to learn that Birmingham alone had 3,500 permits and none of us have the heart to tell them there is more than one Birmingham in America.
Of course, the obvious question is what does this all mean to you? It’s tough to find what you’re searching for out there and with fewer options in this market compared to others, you really need to know where to look. Which is where we come in, because… “Experts”.
You can read the full Free Press article here.
(pictured below: not actually “us”…)
OUR NEW CONSTRUCTION COLLECTION
2371 STANFORD | BERKLEY
We are under contract on 2371 Stanford, but accepting backup offers!
Featuring 4 bedrooms, 2.5 bathrooms, and over 2,400 sqft, some of the highlights of this brand-new floor plan by Mark Adler Homes include an open loft space upstairs, a 2nd floor laundry, a mudroom with a bench/drop zone + USB connectivity, a spectacular front-porch that wraps around the den, and a generous deck/landscaping/irrigation package.
And of course, the superior construction, high-quality finishes, and energy-efficiency Mark is known for.
LOT #1 | WHISPERING RIDGE ESTATES
Our first home in Whispering Ridge is almost done, and we are expecting to officially list it for sale towards the end of this month. Featuring the 4 bed/2.5 bath/2,760+ sqft Wellington plan by Strathdale Development, this home will be similar to what Strathdale has been building in Stonegate, only this will have a Gourmet Kitchen, trimmed & cased arches, and a leaded glass door on the study (with more upgrades to come). Check out the most recent pics (below) of our new modern-craftsman style trim!
LOT #3 | WHISPERING RIDGE ESTATES
Drywall is up, on this expanded Wellington plan, though there is still time to make interior selections. Featuring 4 bed/3.5 bath/over 3,000 sqft, a 3-car garage, and a ton of high-end finishes, we have not officially listed this home for sale yet but we expect it to be priced in the low-to-mid $600s.
Located near Benstein & Glengary in Commerce, Whispering Ridge Estates is located in a particular section of the township that might be the only one which doesn’t require navigating 2-lane roads while winding around every lake in Oakland County, resulting in commute times that range from 30 min to the Donner Party. Yay! Connect with us for the details!
12912 BURGANDY | SOUTH LYON-ISH
The basement is dug, and framing should commence shortly, for the home that will (eventually) look like the one pictured above, in beautiful Burgundy Estates.
Built by Kensington Family Homes, this 4 bed/3.5 bath colonial features nearly 3,000 sqft, an open-concept floorplan wrapped with windows and flooded with natural light, as well as an attached 3-car garage.
We say “South Lyon-ish” because technically it’s in Green Oak Township (woo hoo, lower taxes!) but it features acclaimed/coveted South Lyon Schools.
OUR NOT NEW BUT NEW TO YOU COLLECTION
1507 E. 5TH | ROYAL OAK
LOCATION + PRICE! Our new listing in one of Royal Oak’s most popular neighborhoods offers the best opportunity to be within walking distance to Downtown Royal Oak without breaking the bank.
Stroll to dining, entertainment, parks, and all the amazing activities that make Royal Oak the destination it is, and then come home to this updated 3 bed/2 bath/1,400+ sqft colonial.
Featuring a renovated kitchen with granite countertops, maple cabinets, and hardwood floors, it also includes a coveted first-floor laundry, and a ton of recent upgrades such as a new roof, new A/C, new appliances, the addition of smart technology, and more!
IN OTHER REAL ESTATE NEWS…
ANN ARBOR ROAD| PLYMOUTH
Despite the protests of neighbors in the adjacent Waverly Village neighborhood, Toll Brothers and Pomeroy Living are moving forward with a massive 373-unit development on the north side of Ann Arbor Road, between Lilley & Haggerty (along the east side of the railroad tracks). The Planning Commission voted 3-2 to recommend approval to the township board of trustees, for the project which will include 270 for-lease apartment units, 103 for-purchase townhouses, and a multi-purpose clubhouse… [read more]
BLUFFS AT RIVERSIDE| MACOMB
The Planning Commission has recommended the Bluffs at Riverside for approval, which could bring 116 single family homes to west side of North Ave., just south of 23 Mile road. Lombardo is planning to build ranch-style homes in the 1,500 – 2,200 sqft range, with prices projected to start in the low $300s. Since there is virtually nothing available for new construction in that price range at the moment, we expect sales to be swift; construction is projected to begin later this year or early in 2023… [read more]
BUILDERS: DON’T JUST LIST YOUR HOMES…
GET THEM IN FRONT OF THE RIGHT BUYERS!
Our website caters exclusively to new-home-specific buyers, so in addition to the usual audiences found on the MLS, Zillow, etc., we also bring you local buyers searching specifically for new homes, by creating original, organic content, and pairing it with a social media strategy that guides prospects directly to your listing; and we do it for less than what resale agents charge.
Get in touch to find out how we can sell your homes AND save you money in the process.
Questions about your new home search? Call or email us today – we look forward to hearing from you! Not ready for that kind of commitment? Check out our new-home-specific-search and email us incognito. Use a name like Boyd Schidt. We’ll never know it’s you…
Lou Bitove & Jeff Bortnick, owners of The New Home Experts®, have more than 35 years combined experience in real estate, much of that with builders like Pulte & Toll Brothers. They also provide market research for area builders, developers and national firms. If you’re considering a new home, remember: the builders rep represents the builder, not you. Work with the only local agents in Metro Detroit to specialize in new homes, and save money in the process – ask us how!