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Why Are First Time Home Buyers Feeling the Crunch?

by The Jamey Kramer Group

Are you a first-time home buyer, or wanna-be first-time home buyer? Have you been paying rent for too long at a place you share with other families? Has your rent been going up? When will it end, you think? Have you actually been out looking, only to give up in defeat with so few homes for sale? Have you actually made an offer on one or more homes and been demoralized by someone else out-bidding you?

You are not alone.

There is hope for you, but it might be helpful to know why this might be happening.

More People, Fewer Homes

It’s sometimes hard to remember that our population is going up, which means more people need to find a place to live. At the same time as more new people need housing, the housing market is still recovering from the crisis of 2008 - in a number of ways I’ll mention below - which means new dwellings aren’t being built at a fast enough rate to keep up with population growth. This includes rental units and single family homes, which is why we see a rise in rental rates. It’s all related.

Apprehensive Lenders

The reason more new homes aren’t being constructed is that builders are struggling just as much to recover from the housing crisis of last decade as homeowners and lenders. Most builders are small businesses, which mean they are going to the same types of lenders, like local banks, as homeowners. Lenders are understandably much more wary. It’s harder to obtain a loan than it used to be. In addition, everything about housing costs more. Available land is hard to get, plus if they buy the land, builders have to wait for permits and zoning and provide infrastructure like roads and sewers.

Lack of Skilled Labor

Many of the skilled tradesmen working in construction before the 2008 crisis had to find new trades and jobs when new home construction fell and many residential builders had to go out of business. The industry is down about 900,000 in skilled tradesmen, according to the Nation Association of Home Builders.

These factors and more have led to a shortage of housing and have driven up the prices of homes much faster than the rate at which incomes are rising. However, there is hope.

According to the U.S. Department of Commerce, about 650,000 new single-family homes were completed in 2015. Builders began to work on about 115,000 new homes in October of this year, which was a 21% jump from September and a 26% jump from the same month last year. In October, the rate of construction had risen 57% on multi-family dwellings (rental buildings) from September and 31% from last year. Also, about 97,000 homes were finished this fall - signaling a 6.5% increase from earlier in the year and 8.5% from the previous year.

What does all this mean?

It means there might be an end in sight. We may be seeing the beginning of the housing market getting easier. If you are in the market for a new house right now, the holidays could be a good - if counterintuitive - time to look again. Sellers may be more motivated in the winter months. As always, if you have any questions give us a call today!

248-348-7200

Santa Visits Maybury Farm in Northville, Michigan

by The Jamey Kramer Group

Santa at Maybury Farm in Northville, MI

Are you looking for a way to visit Santa Claus this holiday season - to get those dear pictures of your kids giving their Christmas wishes while they’re little? Look no further than Maybury Farm in Northville, Michigan.

Santa and his elves are visiting Maybury Farm on December 17 & 18 from 12:00 pm - 3:00 p.m. It has been recommended that you arrive early to secure your place in line. Numbers will be distributed so you will not lose your place, and concessions will be available to enjoy while you wait.

Plan to come with your littles ones all dressed up for photos or just come to see Santa Claus. He will be waiting in his antique sleigh in the Welcome Center. There will be a fire in the wood stove at the Welcome Center to make it cozy. There’s no entrance fee, but small donations are accepted to help keep the animals through the winter.

If you are looking for unique and special gifts, you will be able to shop the delicious Maybury Farm honey, jams, jellies, popcorn, stocking stuffers, hostess gifts, and gift baskets.

About Maybury Farm

Maybury Farm is a non-profit organization operated by the Northville Community Foundation. It provides interactive educational opportunities for children and adults alike! You can find, at different months of the year, educational tours, Summer Day Camps, and story time there. In addition, Maybury Farm hosts special events, birthday parties, and participate in the fall corn maze.

Maybury Farm is located at 50165 Eight Mile Rd., between Beck and Napier (do not enter at the State Park). Parking is complimentary. For more information, please visit www.northvillecommunityfoundation.org. You may also find Maybury Farm on Facebook.

How to Contact Maybury Farm

To learn more about Maybury Farm, please contact:

Jessica Striegle, Executive Director

Northville Community Foundation

18600 Northville Road, Suite 275

Northville, MI 48168

Office: (248)374-0200

ncfmanager@gmail.com

Maybury Farm is part of Maybury State Park - a wildlife preserve of almost 1,000 acres. It boasts gentle hills, meadows, forest, wildlife and wildflowers, as well as several kinds of well-maintained trails. The trails include:

Maybury-Cross Country Ski

Trail Length: 6.00 (Miles)

Maybury-Equestrian Trail

Trail Length: 11.00 (Miles)

Maybury-Hiking Trail

Trail Length: 6.00 (Miles)

Maybury-Mountain Biking Trail

Trail Length: 5.00 (Miles)

Maybury-Paved Bicycle

Trail Length: 4.00 (Miles)

Are you a horseback enthusiast? Join the Maybury Trail Riders Association. New amenities for trail riders!

Take Away

If you have never had the chance to take your children to meet Santa Claus at Maybury Farm in Northville, Michigan, you and your family are in for a special treat. Many families have made visiting Santa a Maybury Farm a favorite holiday tradition. In addition, Maybury State Park has many trails for you and your family to enjoy throughout the year.

Maybury Farm is one of the jewels in the family-friendly city of Northville, Michigan. Located northwest of Detroit, this quaint town is a wonderful place to raise a family. If you are considering moving to Northville, we would be honored to help. Please give our office a call or contact us via our online contact form.

 248-348-7200

 

Novi, Michigan Holiday Festivities December 2016

by The Jamey Kramer Group

Novi, Michigan Holiday Festivities December 2016

Looking for fun and free activities for the kids this holiday season, a way to meet your neighbors or just a fun night out? Novi, Michigan has several holiday activities on its schedule you won’t want to miss. There’s something for everyone!

Breakfast With Santa

  • December 10, 2016
  • Novi Civic Center Campus
  • 45175 W 10 Mile Rd
  • Novi, MI 48375

Also at the Novi Civic Center Saturday, December 10, is a pancake breakfast with Santa from 9 am to 11 am. Cost is $5 per person, and under 2 years old free.

Concerts

  • December 8, 2016: 7 pm at the Novi Public Library
  • December 11, 2016: 2 pm at the Novi Civic Center

The Novi Concert Band - a volunteer wind ensemble - is performing December 8 at 7 pm at the Novi Public Library and again on December 11th at 2 pm at the Civic Center. Adult musicians are welcome to join the group. Weekly rehearsals are held at Novi High School band room Tuesdays, 7:30 - 9:30.

The Novi Choralaires - a co-ed choir - are performing on Sunday December 11th at 4 pm. at Prince of Peace Lutheran Church, 28000 New Market Rd., Farmington Hills. If you are interested in joining, the Choralaires hold open rehearsals in September and January of each year. Membership costs $100 for the full season. Rehearsals are on Tuesdays at Novi Middle School from 7:30 pm 9:30 pm.

Tween Craft Series

  • December 15, 2016
  • Novi Meadows Elementary
  • 25345 Taft Road
  • Novi, MI 48374

Registration for the last installment of this series ends December 8. Crafting takes place on Thursday, December 15th from 3 pm - 4 pm at Novi Meadows Elementary for 5th and 6th graders. This month they are making picture coasters and all supplies are provided. Cost: $10 per person.

Skate with Santa

  • December 18, 2016
  • 3:00 pm - 4:50 pm
  • Novi Ice Arena        
  • 42400 Nick Lidstrom Drive
  • Novi MI 48375

Would your children like to skate with Santa? Come out on December 18 for a fun afternoon of holiday spirit on ice. Ages: All - Price: $5

Older Adult Activities

Caroling

  • Meadowbrook Activity Center
  • 25075 Meadowbrook Rd.
  • Novi MI 48375

Come for an afternoon of caroling at Meadowbrook Cafe, accompanied by Tom Slatton. Monday, December 5th from 1 pm - 2 pm. Must be aged 55+

Novi Older Adult Services is offering two events this month. Tickets must be purchased in advance, as space is limited, at the Older Adult Services office at the Civic Center. Call 248-347-0414 for more information.

New Year Celebration

On Saturday, December 31 from 11 am - 2 pm come be entertained by the music of Tom Slatton and enjoy appetizers and desserts at the Meadowbrook Activity Center. Must be aged 55+. This activity is offered in partnership with Enriched Life Home Care Services. Resident price is $7.50, non-resident is $9. Ticket deadline is December 22 or when tickets sell out.

Take Away

From breakfast with Santa to a New Year’s celebration, you will find something to help get you get into the holiday spirit. Come check out what Novi has to offer!

Displaying blog entries 1-3 of 3