Eastside Neighborhood – Bike to MSU!
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431 N Foster, Lansing, Michigan 48912
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Built in 2004 in Waverly!
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139 Renker, Lansing, Michigan 48917
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Delta River Drive Area!
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2610 Dunbar, Lansing, Michigan 48906
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Eastside Neighborhood – Beautifully Renovated!
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125 N Magnolia, Lansing, Michigan 48912
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Changing Lansing One Home at a Time
Something strange has been happening around Lansing. As the doom and gloom of the recession bombards the headlines and swallows up the media attention, a small local construction company, Lau Construction, has been steadily renovating homes around the Lansing area for 5 years now. With 17 projects under their belt, this small company has done all manor of projects. From light renovations, such as paint and carpets, to major overhauls, including one home that was lifted off its foundation so that the foundation could be rebuilt. The list of completed projects includes four homes that had been “red tagged” by the City of Lansing, and one that was slated for demolition. All of these homes are now back in service and have been sold to owner occupants.
Lau Construction was started in 2005 by Christopher and Adraine Lau, who met at Michigan State University in the Construction Management Program. Both have always had an interest in urban revitalization and decided to stay close to home and open their own business. Lau Construction has given special attention to The Westside Neighborhood. Ten of these whole house renovations have occurred in this neighborhood. “We like working in The Westside Neighborhood because we live there as well. The historic character of the neighborhood makes it a wonderful place to live and an easy place to sell a renovated home. We can work close to home and help change the neighborhood for the better at the same time.”
There have been challenges along the way, of course. “You have to learn to adapt to a changing and sometimes challenging real estate market” says co-owner Adriane Lau, who is also a real estate Broker with RE/MAX Real Estate Professionals, “Being on the front lines in real estate I have seen things change seemingly overnight.”
For more photos and information, please visit Lau Construction’s Website.
Lansing Real Estate Sales Stats: August 2010
Lansing Real Estate came to a screeching halt in August. The numbers for August 2010 are everything that NPR already warned you they would be. Sales numbers are down as are prices (after 7 months of gains).
The number of closed transactions fell from 574 in 2009 to 374 in 2010 while the average sales price fell from $114,244 to $108,901. In my opinion (and for those of you who are new to the blog…I am an expert in my opinion) much of the decline is due to the fact that many of the summer buyers were pulled foward into the Spring as they tried to cash in on an $8000 first-time home buyer tax credit offered by the federal government. On the plus side, foreclosures were down 5% over last August for the State of Michigan according to NPR. Combine these numbers with 4.25% mortgage interest rates and it is looking like a grand time to buy a house in Lansing, Michigan!
Lansing Real Estate for Sale: Move In Condition -5920 Ellendale!
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5920 Ellendale, Lansing, Michigan 48911
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East Lansing Real Estate: Hawk Nest Neighborhood
You can love it or hate it for its perfectness, but it is undeniably fitting that Mayberry Homes developed this Andy Griffith type neighborhood located north of East Lansing. As far as East Lansing real estate goes, this is a rare newer development that features a design that encourages walkability and a neighborhood atmosphere. The neighborhood is characterized by big front porches, homes located close to the sidewalk with small yards…all design elements meant to encourage neighbors to talk to one another and create a true community. Check out some photos of Hawk Nest in East Lansing.
This neighborhood is located about 2 miles north of Downtown East Lansing and Michigan State University and is easily connected to both with a regular bus service and the northern tier bike trail. Once inside the neighborhood there are neighborhood parks and paths all meant to encourage a neighborhood feel. There is a small association fee which covers common area maintenance and rules and regulations all meant to keep the neighborhood looking nice.
Many residents find the location just north of town convenient. Meijer is just a 5 minute drive away and the kids will love the East Lansing aquatic center less than a mile down Abbot Road.
While the homes may look as if they are straight out of a magazine, this pretty area has not been exempt for foreclosure and price declines. From August 2006-August 2007 the average sales price was $214,679 while in the last year that number has fallen to just $183,948 (as of Aug. 27th, 2010). This almost 15% decline is still much better than the region as a whole.
Interested in homes for sale in Hawk Nest East Lansing? Click for a full list of homes in the area. You can also switch to a map search to explore all of East Lansing real estate. This link will work best with internet explorer.
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July Lansing Real Estate Statistics
Well, here they are. The most anticipated numbers all year. Our July numbers are out. Why are these numbers so important? Because the Federal Home Buyer Tax Credit was set to expire on June 30th, so these numbers are truly the first month of numbers after the tax credit expired. As expected, the numbers of closed sales took a HUGE beating this month, dropping from 589 closed sales in July of 2009 to just 384 in July of 2010. This was expected since it is generally agreed that the tax credit pulled buyers forward. This just means that buyers who were thinking about buying a home this summer were more inclined to buy a home this spring instead in order to qualify for the tax credit. The number that got me excited was the average sales price. Despite the credit’s expiration the average sales price still went up a whopping 4.6%! (Ok, maybe not whopping, but still headed in the right direction) In July 2009 the average sales price was $109,814, which rose to $114,996 in July of 2010. Click here for full Lansing real estate statistics.
Lansing Real Estate: June Statistics
Prices continue their trend for year on year gains. This is the sixth straight month of positive sales price numbers over the previous year (yeah!) However, the number of closed transactions was down to 512 from 542 in 2009 (boo!). The number of closed sales, however, has remained fairly constant over the last 4 years. Remember that these numbers still show the influence of the first time home buyer tax credit, which was originally scheduled to expire June 30th. The tax credit closing date has now been extended, allowed people who had binding contracts by April 30th to qualify for the credit as long as they close by September 30th. However, the new extension does not allow for any additional deals to be written or additional buyers to qualify for the credit, so I think that it is fair to say the influence of the stimulus is now out of the system. Lansing Realtors will be waiting on the edge of our seats for July’s number, which will show what happens to the numbers after the tax credit influence has expired. Click here for complete June numbers.
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