In a previous post, I reported on an industry survey of new home construction that is conducted monthly by Bank of America. With their kind permission, here is a summary from the January 2008 report.
New home prices and incentives to buyers continue to increase while time to sell is taking longer. Nationally, part of this is still an over-abundance of inventory, but as many builders are now reducing standing stock and beginning new construction only upon receipt of a signed puprchase agreement, this inventory continues to drop.
New home affordability, attractive mortgage interest rates and the dropping inventory will help this sector over the next 12 months.
The Detroit-area market was the nation's 36th largest for all of 2006. This latest report indicates that traffic at new models is still pretty slow and prices continue to drop, while time on the market increases - pretty much in step with national trends. In this market, the builders with the most exposure are Pulte, Toll Brothers and Centex, but there are a lot of great smaller, local builders, too. Many are also doing remodeling work in addition to new construction.
It's a great time to get a bargain on a new home, but shop carefully! There are many, many great deals available on exisiting homes, too, and you can often get more for your money with a re-sale home. Work with an experienced, full-time real estate professional and mortgage representative to get the most from this strong buyer's market.
Tuesday, February 05, 2008
Sunday, February 03, 2008
Michigan Voter Identification
If you voted in the November 6, 2007 local elections or the January 15, 2008 primary elections, you noticed that you were asked for identification for the first time.
The preferred ID is a valid Michigan Driver's License or State-issued ID card (also available at the Secretary of State office). Federal or state government-issued photo ID's, U.S. passports, military photo ID cards, photo ID cards from a high school or higher education institution and tribal ID cards with photo are also accepted.
So what happens if you don't possess any of these documents? You were asked to complete an 'Affidavit of Voter Not in Possession of Picture Identification' before being allowed to vote.
This State Law was originally enacted in 1996 and then renewed in 2005, but then State Attorney General Frank Kelley ruled it a violation of the equal protection clause of the 14th amendment on the basis that it was essentially a 'poll tax'. The law had been in 'limbo' since then.
This divisive issue has been split along political party lines, with Democrats in opposition and Republicans in favor of the law. Finally, the Michigan Supreme Court ruled that because voters can choose intead to sign an affidavit swearing to their identity, there was no poll tax. The ruling went along political party lines, with five Republican judges in favor and the two Democrat judges in opposition.
As the second voter in line at my precinct on January 15th, I can attest to the confusion of the election workers first thing in the morning, but they seemed to have it ironed out later in the day, according to my wife, who voted in the late afternoon.
The preferred ID is a valid Michigan Driver's License or State-issued ID card (also available at the Secretary of State office). Federal or state government-issued photo ID's, U.S. passports, military photo ID cards, photo ID cards from a high school or higher education institution and tribal ID cards with photo are also accepted.
So what happens if you don't possess any of these documents? You were asked to complete an 'Affidavit of Voter Not in Possession of Picture Identification' before being allowed to vote.
This State Law was originally enacted in 1996 and then renewed in 2005, but then State Attorney General Frank Kelley ruled it a violation of the equal protection clause of the 14th amendment on the basis that it was essentially a 'poll tax'. The law had been in 'limbo' since then.
This divisive issue has been split along political party lines, with Democrats in opposition and Republicans in favor of the law. Finally, the Michigan Supreme Court ruled that because voters can choose intead to sign an affidavit swearing to their identity, there was no poll tax. The ruling went along political party lines, with five Republican judges in favor and the two Democrat judges in opposition.
As the second voter in line at my precinct on January 15th, I can attest to the confusion of the election workers first thing in the morning, but they seemed to have it ironed out later in the day, according to my wife, who voted in the late afternoon.
Subscribe to:
Posts (Atom)