Recent News!
Onlinebuildersexam.com Recent News (Updated 06/04/07)
Did you know? According to a recent Detroit Free Press article by John Gallagher, the Detroit Market is keeping some home builders and real-estate agents in business. Existing home sales were up 6% in Detroit last year compared to a drop of 14% for all of Michigan. New residential construction in the city is at its highest point in more than 30 years. New permits for single family construction are more than 10 times higher than a decade ago. Detroit recently issued 739 permits for new single-family houses, multifamily, and townhouses the most of any community in the region. Some reasons for this trend may be the desire for urban living coupled with reasonable property prices. Builders say that their typical customers are empty nesters and young professionals who want to live, shop, and be entertained in a pedestrian friendly area. There are also tax abatements and other subsidies that support development in the city which make them more affordable. Over 80% of Enterprise zone tax abatements in Michigan are located in the City of Detroit.
Did you know? According to a recent Detroit News article foreclosure rates for Michigan and Metro Detroit declined from March to April, indicated that the number of borrowers in danger of losing their homes may have hit the bottom in this state and region. The April rate for Michigan dropped 20.1 %, to one foreclosure filing for every 614 households, ranking 10th in the Nation, according to RealityTrac, an industry research firm.
Did you know? According to a recent Detroit Free Press article by John Gallagher, the Detroit Market is keeping some home builders and real-estate agents in business. Existing home sales were up 6% in Detroit last year compared to a drop of 14% for all of Michigan. New residential construction in the city is at its highest point in more than 30 years. New permits for single family construction are more than 10 times higher than a decade ago. Detroit recently issued 739 permits for new single-family houses, multifamily, and townhouses the most of any community in the region. Some reasons for this trend may be the desire for urban living coupled with reasonable property prices. Builders say that their typical customers are empty nesters and young professionals who want to live, shop, and be entertained in a pedestrian friendly area. There are also tax abatements and other subsidies that support development in the city which make them more affordable. Over 80% of Enterprise zone tax abatements in Michigan are located in the City of Detroit.
Did you know? According to a recent Detroit News article foreclosure rates for Michigan and Metro Detroit declined from March to April, indicated that the number of borrowers in danger of losing their homes may have hit the bottom in this state and region. The April rate for Michigan dropped 20.1 %, to one foreclosure filing for every 614 households, ranking 10th in the Nation, according to RealityTrac, an industry research firm.
Did you know? A person working on 1 undertaking or project on 1 or more contracts, the aggregate contract price for which labor, material, and any other item is $600 or more is required to obtain a Michigan Residential Builders License by written examination.
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