Metro Detroit

NEWSLETTER: NOVEMBER 2024

November 16, 2024

ELECTION EXHAUSTION

ONE LAST LOOK AT WHAT COMES NEXT, SO WE CAN ALL TURN OUR ATTENTION BACK TO THE LIONS.

The election is over and thankfully, so is the multi-pronged/relentless media blitz.

Sadly, our write-in campaign for an A.J. Hinch/Dan Campbell ticket failed.

Shame.

Now, we turn our focus to what happens next; the first 100 days of any presidency tends to act as a solid indicator of what to expect for the term, but until then, all we can do is analyze what was said on the campaign trail.

So, our November 2024 newsletter will look at what was floated about housing during the campaign (or at least, the parts of the economy that affect housing), and specifically new home construction.

Economic Policy

The new administration’s economic policy seems to revolve around tax cuts and tariffs.

A lower tax rate may move some builders away from the sidelines, where many headed during COVID and remained as interest rates rose; this would likely help our anemic inventory numbers.

However, any benefits felt by lower taxes could be offset by material cost-increases due to tariffs.

Granted, some will argue that increasing the cost of imported materials could increase demand for domestic materials, which could in turn lower the domestic prices while benefiting American companies and workers. Prices would still be higher than what they are now, but perhaps not dramatically.

The former seems likely in the short term, but the latter is possible eventually; time will tell.

Deregulation

While specifics were hard to come by, there was a lot of talk about deregulation of anything and everything that is perceived to be wrapped up in red-tape. This could potentially be good news for builders; we have a housing shortage and often, the extended timelines it takes to gain approval  – particularly for sizable developments – can deter builders and developers from tackling larger projects. Removing that interference may encourage more activity on a grander scale.

Here in Metro Detroit the difference would probably be nominal, since we no longer have enough large parcels of vacant land close to the city center(s) to really engage in that fight. However, we do have a number of office, commercial, and industrial sites that could end up becoming residential with remediation and/or re-zoning, so less interference in the transition process could encourage participation (though we hope it’s still done with a degree of environmental concern).

Immigration

Roughly 1/3 of the new home construction labor force is immigrant-based, so any changes to immigration could have a significant impact on our industry.

As it is, particularly here in Southeast Michigan, we have a shortage of trades. If that deficit grows, the cost to build a home will rise and exisiting inventory issues will only get worse. Bringing in illegal immigrants isn’t the answer either, but programs that help fast-track legal resident-aliens through the immigration process would be beneficial.

We will see what happens when the new administration takes over in January.

Regardless of what lies ahead for the first 100 days, and over the course of the next 4 years, we are here for your real estate needs – whether you build, buy, or sell.

Connect with us to discuss your situation, as well as your new home search.

Go Lions.

Pictured above: Old Glory, new construction…

CURRENT LISTINGS

OUR NEW CONSTRUCTION COLLECTION

WHISPERING RIDGE ESTATES | COMMERCE TWP.

We are down to our final two lots: lot 9 & lot 11. We will be starting a spec home on one of those lots soon, so if you’re on the fence about building your own home from scratch in Whispering Ridge Estates, now is the time to act – let’s chat about it.

Located near Benstein & Glengary in Commerce, Whispering Ridge Estates is in one of the few sections of the township that 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!

UPTOWN VILLAGE | MILFORD

Located on the north side of Downtown Milford in Uptown Village, these well-appointed 2-3 bed/2.5-3.5 bath townhomes are a short walk to one of Metro Detroit’s most coveted historical downtowns, with rows of shops and restaurants that are steeped in the authenticity that comes with nearly two centuries of cultivation.

Only a small offering of these townhomes will be built, so act soon; connect with us (if you’re already working with us), or reach out to Julie directly for the details.

16453 SLEEPY HOLLOW | FENTON

Located in the desirable Pinnacle Shores neighborhood in Fenton, 16453 Sleepy Hollow Drive represents our first listing with our friends at Pzarka Development.

This beautiful modern colonial offers high-quality craftsmanship and thoughtful design, on a premium homesite.

With structural features such as ‘9 ceilings on the first floor, 9′ poured basement walls, and a 3-car oversized garage, the interior boasts many upgrades as well, including Anderson black on black windows, Merillat soft close cabinetry, 3/4″ solid natural white oak wood flooring throughout the first floor, a Chefs’ kitchen equipped with Whirlpool appliances, an oversized island, and quartz countertops.

This home is now complete and move-in ready, so act soon; connect with us (if you’re already working with us), or reach out to Tina Piezarka directly for the details.

OUR NOT NEW (BUT NEW TO YOU) COLLECTION

All of our current re-sale listings are under contract – YAY!

IN OTHER RESIDENTIAL CONSTRUCTION NEWS…

NOVEMBER 2024 NEIGHBORHOOD UPDATES

Kudos to Pulte for closing out Ballentyne (pictured above) in less than 2 years, with the average sale price near a whopping $1.4M – to the best of our knowledge, the highest ever for a Pulte neighborhood in Michigan! The City of Novi thanks your helping with their struggling real estate values lol.

Our friends at Mark Adler Homes have a rare spec home under construction, that will likely to be complete this winter. Featuring 4 bed/3.2 bath and nearly 4,000 sqft, this 2-story colonial is perfect for someone who wants a new home but doesn’t have 12 months to wait for it.

The highly anticipated Parc Vista neighborhood has not disappointed, with sales moving faster than even we anticipated, considering the homes start north of $1M. Now the final 9 lots have been released, so this is your last chance to build in this beautiful Toll Brothers neighborhood.

DOWNTOWN | GRAND RAPIDS

Members of the DeVos and Van Andel families are joining forces on a massive project to turn a riverfront parking lot into a mixed-use development in Downtown Grand Rapids.

The 7-acre parcel along the Grand River (just south of Fulton Street), would boast 3 high-rise towers, continuing the evolution of the Grand Rapids skyline.

The hotel/condo tower would feature a 27-story building with 130-hotel rooms and 27 condos. The apartment tower would consist of a 43-story building with nearly 600 market rate apartments. A 21-story office tower would complete the development, offering 420,000 square feet of office space; it’s rumored that a single tenant may occupy the entire tower.

The targeted completion date lies somewhere between late 2028 and early 2029, though developers are currently applying for subsidies from the state to help offset the roughly $740M price tag. Read more from MLive here.

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.

If you’re already working with a client and they have a house to sell, we can help with that as well – using our knowledge of the construction process, to help prevent any issues with timing, etc., when we list their home.

Get in touch to find out how we can sell your homes (and your client’s home), and save everyone money in the process.

Also… if you like what you’ve seen in our November 2024 newsletter, connect with us to find out how your homes can be featured in future newsletters!

AGENTS: BECOME AN EXPERT…

WE ARE THE HOME FOR NEW HOME SPECIALISTS!

Join us. We are growing our national network of New Home Experts® agents across the United States and beyond.

If you are a builders sales rep looking for something different, or an agent/broker with a masterful level of experience selling or building new construction homes in your local market, we want to talk.

Set your business apart from competitors by focusing on this lucrative real estate sector; one that most other agents are either afraid of, intimidated by, or both.

Interested? Let’s chat about the life of an “expert” and if it’s the right path for your career.

CLIENTS: WE LOVED WORKING WITH YOU!

…AND WE WOULD LOVE TO HELP YOUR FAMILY AND FRIENDS AS WELL.

(at least, the ones who are like you)

Our clients mean the world to us, and watching their dreams turn into reality is what keeps us going. We appreciate all of you, and would love the opportunity to help your friends, family, and co-workers as well.

If anyone you refer to us builds, buys, or lists a home with a New Home Experts agent from now until the end of 2025, we will send you a $100 Amazon gift card to show our appreciation.

Call, email, or just send them our way – we’ll take it from there.

And of course, if YOU decide to build, buy, or list with us again, the same offer applies to you.

CONTACT US

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 Carrie Oakie. We’ll never know it’s you…