Top Stories

The Michigan Messenger going forward

By Staff Report | 11.16.11

I am writing today to announce the closure of the Michigan Messenger. After four years of operation in Michigan, the board of the American Independent News Network, has decided to shift publication of its news into a single site, The American Independent at Americanindependent.com. This is part of a shift in strategy, towards new forms [...]

Colorado-based abstinence program provided false and misleading information to Michigan students

HIV-AIDS-small
By Todd A. Heywood | 11.16.11

An abstinence-only presentation provided to numerous school districts in Calhoun and Eaton Counties in October of this year provided false and misleading information to students about HIV, experts allege.

Class action lawsuit filed against MERS over unpaid taxes

foreclosure
By Todd A. Heywood | 11.15.11

Two county registers of deeds filed a class action lawsuit Monday on behalf of Michigan’s 83 counties alleging that the Mortgage Electronic Registration Services owes millions of dollars in property title transfer taxes.

Schuette fights important mercury regulations

epa_logo
By Eartha Jane Melzer | 11.14.11

Despite evidence of the impact of mercury on children and public health, Michigan Attorney General Bill Schuette last month joined with 24 other state attorneys general in filing a lawsuit to scuttle new EPA regulations that would reduce mercury emissions from power plants.

Detroit home sales get boost in July

By Ed Brayton | 08.19.09 | 12:49 am

Here’s a little good economic news for a change. Home sales in the Detroit area were up significantly in July from the same month last year — and the average price of those sales in the city of Detroit doubled from last year. The Detroit Free Press reports:

Metro Detroit home sales rose 22.4% in July compared with a year before, with 4,944 homes sold in Macomb, Oakland and Wayne counties, according to Realcomp data released Monday.

Prices, however, continue to be hit hard by the large number of foreclosures still sifting through the market, according to the Farmington Hills-based multiple listing service.

Macomb County had the biggest sales increase during the month, reporting a 29% rise in sales to 917 for July, compared with 706 in July 2008. Sales in Wayne County rose 23.2% to 2,391, and were up in Oakland County by 17.4% to 1,636.

And while the median sales price of homes in the suburbs was down significantly from a year ago, the median price of a home sold in the city of Detroit doubled from $11,000 to $22,000. That’s still incredibly low but at least it’s headed in the right direction. Sales are expected to remain strong over the next couple months as people rush to get deals closed by November 3 in order to be eligible for an $8,000 federal tax credit for first-time homebuyers.

Comments

  • Trajan8

    I think you may have a typo, as I believe the deadline for the $8000 tax credit is Nov 30th, not Nov 3rd. I could be wrong though.

    One story the media hasn't covered yet is the success of the $8000 tax credit. It is basically as popular as the 'cash for clunkers' (maybe call it 'bucks for bungalows'?) and has worked well to turn around the market for low-end homes ($150,000 and less). The number of first-time home buyers currently looking for homes is overwhelming, creating a lot of competition and resulting in many homes selling for 'asking price' or higher.

    Granted, the homes that are selling are still mostly foreclosures, but some private owned homes are benefitting from the market change as well.

  • Trajan8

    I think you may have a typo, as I believe the deadline for the $8000 tax credit is Nov 30th, not Nov 3rd. I could be wrong though.

    One story the media hasn't covered yet is the success of the $8000 tax credit. It is basically as popular as the 'cash for clunkers' (maybe call it 'bucks for bungalows'?) and has worked well to turn around the market for low-end homes ($150,000 and less). The number of first-time home buyers currently looking for homes is overwhelming, creating a lot of competition and resulting in many homes selling for 'asking price' or higher.

    Granted, the homes that are selling are still mostly foreclosures, but some private owned homes are benefitting from the market change as well.

  • Trajan8

    I think you may have a typo, as I believe the deadline for the $8000 tax credit is Nov 30th, not Nov 3rd. I could be wrong though.

    One story the media hasn't covered yet is the success of the $8000 tax credit. It is basically as popular as the 'cash for clunkers' (maybe call it 'bucks for bungalows'?) and has worked well to turn around the market for low-end homes ($150,000 and less). The number of first-time home buyers currently looking for homes is overwhelming, creating a lot of competition and resulting in many homes selling for 'asking price' or higher.

    Granted, the homes that are selling are still mostly foreclosures, but some private owned homes are benefitting from the market change as well.

Categories & Tags: Economy| | |