Flint Real Estate News

Movin’ On Uptown

Eight Flint based investors came together in 2002 and formed Uptown Developments LLC. Have you heard of it?  In the group’s own words, they are

…focused on redeveloping downtown Flint into an vibrant neighborhood consisting of loft apartments, restaurants, offices, entertainment and cultural venues.

I like the sound of that!  If you haven’t heard of Uptown Developments, I bet you have heard of its partners. I have. One of them built my subdivision and another one has put a lot of food in my belly.

Uptown Development LLC supports Flint’s current trend of “changing gears” from “factory town” to “college town.” Critics of Flint’s current condition and potential haven’t been paying very close attention. Despite what has been said, Flint IS moving on from being dependent on General Motors and is turning into a smorgasbord  of entertainment, education, and culture.  With UM Flint at the center instead of manufacturing, it might not be long before we become a “Little Ann Arbor” instead of “Little Detroit.”  I can see that happening if I close my eyes and think above perceived barriers. Can you?

I mean, I could more easily imagine it before our revitalization programs became in jeopardy, and police force and educators were under fire, but I will shut up about that. I promised I wouldn’t go there here, but it’s so hard for me sometimes.

So anyway, yeah, Little Ann Arbor – with University of Michigan, Kettering University, Mott College, and an outstanding Cultural Center. I don’t know if we take it for granted because we live here, or if Flint’s decline overshadowed the treasures we have, but the Flint Institute of Arts, Flint Institute of Music, Sloane Museum, and Longway Planearium are great assets to our community. When is the last time you took advantage of any of them?

Flint is so much more vibrant than it was a decade ago, that’s not news. Unless you’re one of those people on the outskirts that prefers to speak negatively about it, despite not having been here in five years to see what’s happening. But for myself, I’ve been so focused on what a great place it is to find things to DO I have not noticed what a great place it has become to LIVE.

Are you thinking about renting? Have you considered leasing a downtown Flint loft? The architecture is AMAZING and it is so convenient to downtown. I would have loved living in one of these back in the day. If you aren’t familiar with downtown loft living, check it out here.

Flint Real Estate News

Michigan Sales Prices Heating Up Nicely.

The average sales prices in Oakland and Genesee Counties rose at a pretty solid double digit rate in July vs. July 2009 sales.

The average sales price of Oakland County homes sold in July of 2010 was up 12.5% and the average sales price of a sold home in Genesee County was up 16.4% versus July of 2010. 

The stabilization of the automotive industry has to be assisting with the increase as well as outstanding prices and interest rates. Could it also be possible people are just sick and tired of feeling sick and tired about real estate?

I also traveled back and forth across Michigan over the last six weeks meeting with a lot of brokers and for the most part the consensus was the same, people are tepidly mentioning they believe we have turned a point and they are seeing more business.  I spoke with two good friends that sell in Northern Michigan and they concurred, way more business and most of it is cash from out of state.

Mitz Lee told me he is seeing the best first half of the year in Charlevoix in a  long time, big properties are selling (albeit at prices he never thought he would see) and for cash, a lot of buyers from Illinois, Texas and Missouri.

Our friend Pam Burke traded in her ChangingStreets.com name badge for Elk Rapids and view of the marina and her boat, and is seeing a rise in action in the Elk Lake, Torch Lake area and echoing Mitzs’ sentiments that there are a lot of educated, diligent but serious cash buyers in Northern Michigan.

All good news when cash comes off the sidelines that is good sign for the market.

Flint Real Estate News

Flint Sees Dramatic Drop in Listing Inventory

The number of homes for sale in the Genesee County area is half of what it was this time last year to 3550 homes. This with recent surges in sales has dropped inventory levels to a six onth supply.

This has led to situations where nice properties are creating situations with multiple bids and sales prices exceding listing prices.