Marketing & Statistics

Marketing & Statistics

MPSC authorizes Consumers Energy to increase rates

The Michigan Public Service Commission (MPSC) today authorized Consumers Energy Company to increase its electric rates by $113,277,000 annually, effective March 7. Because the amount the MPSC approved is less than what the utility self-implemented in September last year, customers will see a refund, plus interest, in the future.

Michigan receiving $188 million more in Hardest Hit Funds for foreclosure prevention and neighborhood...

Michigan’s most successful programs for reducing foreclosure and eliminating blight will get an additional $188 million from the U.S. Department of Treasury under its Hardest Hit Fund (HHF) program to further aid in economic recovery for homeowners and communities, MSHDA Executive Director Kevin Elsenheimer announced today.

Michigan lenders, REALTORS, state and local officials kick off new statewide MSHDA mortgage program...

Grand Rapids, Mich. - February 26, 2014 - (RealEstateRama) -- More than 1 million Michigan homeowners could qualify for down payment assistance of up to $7,500 toward the purchase of a new or existing home through a new program launched by the Michigan State Housing Development Authority (MSHDA)

May Average Selling Price Jumps to Highest Since 2007 as Inventory Remains Tight

WASHINGTON, D.C. - June 26, 2013 - (RealEstateRama) -- Michigan’s housing market continued its upward swing in May, according to the MLS reports compiled by the Michigan Association of REALTORS®. Over 88% of reporting units reported an increase in average selling price from May 2013 compared to May 2012; with 13 locals reporting an increase at/near 20+%. Statewide the average selling price increased by 11.28% at $125,880 in May 2013 compared to $113,116 in May 2012. May 2013 also reported an increase in single family home sales of 3.57% with 12,383 sales compared to May 2012 sales of 11,956. In the past five years the number of home sales reached over 12,300 just once back in August 2012

Stabenow, Levin Announce Over $4 Million in PILT Payments for Michigan

WASHINGTON, D.C. - June 14, 2013 - (RealEstateRama) -- Twenty-nine Michigan counties will receive a total of more than $4.1 million from the Interior Department as part of the Payments in Lieu of Taxes (PILT) program, Sens. Carl Levin and Debbie Stabenow announced today. The federal government provides PILT payments to local governments to offset losses in property taxes due to nontaxable federal lands within their boundaries.

March Average Selling Price Reported at Over 20%

WASHINGTON, D.C. - May 2, 2013 - (RealEstateRama) -- According to the MLS reports compiled by the Michigan Association of REALTORS®, 95% of reporting units reported an increase in average selling price from Mar 2013 to Mar 2012; with 17 locals reporting an increase at/near 20+%. Statewide the average selling price increased by 20.71%. With inventory still being an issue however, 10,114 single family homes were sold in Michigan in March 2013, a decrease of 2.39% over March 2012

February Average Selling Price Increases Nearly 20%

WASHINGTON, D.C. - March 19, 2013 - (RealEstateRama) -- According to the MLS reports compiled by the Michigan Association of REALTORS®, 85% of reporting units reported an increase in average selling price from Feb 2013 to Feb 2012; statewide the average selling price increased by a whopping 19.19%. As inventory tightens however, 7,979 single family homes were sold in Michigan in February 2013, a decrease of 4.97% over February 2012.

New Year Brings Nearly 10% Jump in Home Sales and Average Sales Price

WASHINGTON, D.C. - March 6, 2013 - (RealEstateRama) -- According to the MLS reports compiled by the Michigan Association of REALTORS®, January total sales volume increased, while the average selling price of single-family homes in Michigan rose compared to the same time last year. According to the report, 8,433 single family homes were sold in Michigan in January 2013, an increase of 8.90% over January 2012.

November Continues Trend with Increased Sales and Average Selling Prices

December 18, 2012 - (RealEstateRama) -- According to the MLS reports compiled by the Michigan Association of REALTORS®, overall November total sales volume and average sales price of single-family homes in Michigan continued to rise compared to the same time last year. According to the report, 9,896 single family homes were sold in Michigan in November, 2012, an increase of 12.16% over November, 2011. The November 2012 average sales price was $113,404, a 9.98% increase over November 2011. Over eighty percent of reporting units showed an increase in total sales as well as an increase in average selling price compared to this time last year

July Boasts Some of the Year’s Best Numbers

August 27, 2012 - (RealEstateRama) -- According to the MLS reports compiled by the Michigan Association of REALTORS®, 11,477 single-family homes were sold in July, 2012, an increase of 14% over July, 2011 while the July 2012 average sales price was $116,116, a 6.55% increase over the 2011. Nearly all local reporting units (31 of 41) across Michigan show an increase in average sales price over July, 2011 including Ann Arbor (11.81%), Greater Wayne County (11.9%), Jackson Area (40.69%) and Oakland County (11.06%). Nationally, existing home sales have risen 10% from comparable period last year with Michigan reporting the same increase

Governor makes appointments to Board of Real Estate Brokers and Salespersons

LANSING, MI - July 18, 2012 - (RealEstateRama) -- Gov. Rick Snyder has announced the appointment of Robert Craig, of St. Johns, and the reappointment of Shawn Huston, of Lewiston, to the Michigan Board of Real Estate Brokers and Salespersons.

Enrollment Surge in Michigan’s Hardest Hit Fund Helps Reduce Foreclosures

Lansing, MI - August 15, 2011 - (RealEstateRama) -- The Michigan State Housing Development Authority announced today it has received nearly 9,000 applications for foreclosure prevention assistance during the past five months since the launch of a new "Step Forward" publicity campaign. The "Step Forward" awareness effort has helped contribute to a 16 percent decline in Michigan's foreclosure activity in July from the previous month and a 42 percent decrease in foreclosure activity from July 2010, MSHDA officials said.

OFIR Announces Settlement with CitiFinancial Regarding Mortgage Disclosure Violation

LANSING, MI - March 25, 2010 - (RealEstateRama) -- The Office of Financial and Insurance Regulation (OFIR), the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) today announced a settlement with CitiFinancial regarding the firm’s failure to report 91,127 residential mortgage loans, including more than 4,000 in Michigan, to the federal government as required by the Home Mortgage Disclosure Act (HMDA). The settlement requires CitiFinancial to pay a $63,457 penalty to the State of Michigan, which will be put into the Mortgage Brokers, Lenders, and Servicers Licensing Act Fund and used to support OFIR’s mortgage examination and licensing programs

HUD/Site Condo Update

June 18, 2009 - (RealEstateRama) — The Michigan Association of REALTORS®, along with many other state REALTOR® associations, has received many questions and concerns regarding site condominiums and FHA loan approvals. Recently, HUD released Mortgagee Letter 19 on the Condominium Approval Process for single family housing. Included in the letter is guidance on how to treat site condominiums. Under the letter, site condos do not need to be approved as condo projects, but FHA loans for site condos still need to include a condominium rider in the loan package for insurance endorsement

Sen. Pappageorge sponsors property tax town hall forum

LANSING - February 23, 2009 - (RealEstateRama) — To help his constituents understand how property taxes work and when they should appeal their property tax assessment, State Sen. John Pappageorge, R-Troy, is sponsoring a “Property Tax Town Hall Forum” Monday, Feb. 23.

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New shorelands program helps waterfront homeowners improve shorelines, inland lakes

The Michigan Natural Shoreline Partnership recently launched a program to help lakefront homeowners understand best practices to protect their shoreland and inland lakes. The Michigan Shoreland Stewards Program will recognize inland lake property owners who are using healthy property management practices to protect their inland lake and offer tips to improve the shoreline further.

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Michigan Agency for Energy issues Request for Proposals for 100,000 in...

The Michigan Agency for Energy (MAE) today said it has issued a Request for Proposals for $100,000 in grants to Michigan municipalities, public K-12 schools, hospitals, nonprofit organizations and small businesses for energy waste reduction and renewable energy products and services.