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There has been a proposal to construct an off shore wind turbine along the west coast of Michigan. Scandia Wind Offshore, LLC wants to build 100 to 200 wind turbines along the coast of Lake Michigan. The proposed site would be a 100-square-mile area of Lake Michigan between Ludington and Pentwater. The turbines would be located about one and a half to two miles off shore. These turbines would stand 300 feet tall. The project needs additional study and numerous state and federal permits before it would receive the green light.
Offshore wind farms should be located in areas where winds blow continuously at high speeds and new research is able to identify the areas where these winds are located. The site in Michigan was one of the best in the United States because of wind and sea conditions, water depths and the connection to the electrical grid at the Ludington pump storage facility.
So much is invested in Michigan to save the shoreline, protect Lake Michigan, keeping the invasive carp out of our waters and to keep the quality of Michigan's natural resources protected. Michigan has 400 miles of coastlines which draws in many tourist. Michigan's boating, fishing and tourism is a 7 billion dollar industry and the proposed site is mainly tourist towns.
There are so many concerns about this proposed project; What effect it will construction of the turbines have on the lake? Will it help the struggling Michigan economy and is so for how long? How will the Michigan winters effect the turbines? Will the communities benefit from the wind farm? What are your thoughts and opinions on putting an offshore wind farm in Lake Michigan?
![[map-wind-farmjpg-bd127ef9a88aa101_medium[1].jpg]](http://2.bp.blogspot.com/_f-nvROSTI_A/S1nJcDCWUhI/AAAAAAAACqk/qHnttUJ9EvQ/s1600/map-wind-farmjpg-bd127ef9a88aa101_medium%5B1%5D.jpg)
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Appraisers say that it is becoming increasingly harder pinpoint what a home is worth. With a flood of inventory hitting the market from rising foreclosures appraisals are coming in low. Roughly 40 percent of all home sales in 2009 were foreclosures or short sales, meaning the property sold for less than the mortgage. Appraisers they are setting home values accord to the reality of the market and some appraisers are comparing distressed properties to brand-new homes.
Adding to the problem is that many real estate appraisers are now hired under new industry rules. Designed to limit conflicts of interest that can bias an appraisal. Appraisers are hired from outside the area and don't have the local knowledge to find homes that can be a better benchmark for regular homes.
According to analysts and economists there may be another wave of potential home foreclosures in 2010 which could cause home prices to fall another 5% to 10% before the market stabilizes. One reason for more foreclosures is that in 2009 many lenders were under pressure from the Obama Administration to postpone repossessions until loan modifications could be made. The postponed foreclosures will now be done in 2010.
Low mortgage rates have helped millions of homeowners reduce payments on their existing homes. The combination of cheap mortgages and lower prices has pushed the “affordability” index close to its highest level in nearly two decades, according to the National Association of Home Builders.The sales of existing homes picked up with a big boost from the extended tax credit. The hope is that by this spring, the housing market and economy will begin showing sustainable growth without the help of the government. The real estate market is highly seasonal, so the most relevant statistic isn't the month-to-month trend but the year-to-year trend.
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Highlights from the year 2009:
January 15: Plane crashes into Hudson River; All 155 passengers and crew aboard survive.
January 20: Barack Obama is inaugurated as the 44th, and first African American, President of the United States.
February 1: Steelers win Super bowl 43, Pittsburgh Steelers defeat the Arizona Cardinals 27-23.
March 7: NASA launches Kelper Mission from Cape Canaveral, Florida, a space photometer, which will search for extra solar planets in the Milky Way galaxy.
April 24: The World Health Organization expresses concern at the spread of influenza from Mexico and the United States to other countries. International cases and resulting deaths are confirmed.
May 13: President Obama proclaims May 2009 as Jewish American Heritage Month.
May 7: Wildfires near Santa Barbara, California burn 3,000 acres of land and force 15,000 people to evacuate.
May 14: Chrysler and General Motors terminates over 1,889 dealerships throughout the United States.
June 25: The death of American entertainers Michael Jackson and Farah Fawcett trigger worldwide grief.
July 22: The longest solar eclipse of the 21st century occurred over Asia and the Pacific Ocean. The eclipse lasted 6 minutes and 38.8 seconds.
August 3: Bolivia becomes the first South American country to declare the right of indigenous people to govern themselves.
September 14: Patrick Swayze, an American actor and dancer passed away (born 1952).
November 4: The New York Yankees defeat the Philadelphia Phillie's 7-3 in Game 6 to win the 2009 World Series.
December 20: Brittany Murphy, an American actress passed away (born 1977).
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Graph "A" shows the number of homes sold each month for 2009. Graph "B" shows a comparison of average selling prices for real estate in the Holland and Saugatuck area for 2008 and 2009.
Graph A: 
Graph B: 
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An article from the Associated press stated that home sales grew in the second quarter in 39 states. Again statistics state continual improvement for the housing market. Although numbers are not as high as they were a year ago. According to the National Association of Realtors the total quarterly sales rose 3.8 percent to a seasonally adjusted annual rate of 4.76 million, from 4.58 million in the first quarter, but were still about 3 percent below a year ago. Nationwide, foreclosures and distressed sales made up more than a third of all sales in the second quarter. Many economists now say that the worst of the housing recession is over, though foreclosures are expected to rise over the next year.
Statistics generated from the Southwestern Michigan Regional Information Center also show an improvement in the housing market. In Holland, Michigan in the past three months 463 homes and condos were sold. In Holland from May to August in 2008 there were 456 homes and condos sold. The average selling price of a home from May to August in 2009 was $143,644. The average amount of days on the market for these homes was 111 days. Compared to 2008 the average price of a home was $167,849. These homes were on the market an average of 123 days. Most of the homes sold in 2008 and 2009 were on the market for 120 or more days. In 2009 there were 190 homes sold after being on the market for over 120 days. This is 41% of the homes sold in 2009. The homes sold in this time period received 91% of the listing to selling price. In 2008 there were 204 homes sold after being on the market for over 120 days. This is 44.74% of the homes sold in 2009. The homes sold in this time period received 95% of the listing to selling price.
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Real estate home sales statistics along the West Michigan Shoreline communities South of Grand Haven to Holland and Saugatuck for the first 3 months of 2008 compared to 2009. In 2008 there were 161 homes sold with an average sale price of $216,848, compared to 2009 when there were 138 homes sold with an average of $155,186, representing a 14% drop in volume, and a 29% drop in average price. Average days on the market in 2008 for this reporting area was 157, and sellers got an average of 94.85% of their listing price, and 90% of their ORIGINAL listing price, meaning the price it originally went on the market; in 2009 those numbers were 133 days on the market, with sellers getting 90.05% of list price, and 81% of ORIGINAL list price. Average price per square foot for these 161 West Michigan homes was $125.61 in 2008, and $94.97 in 2009. In 2008 the high, low, and median prices were high-$2,950,000, low-$28,000, and median-$129,300; 2009's West Michigan real estate sales numbers were, high-$2,250,000, low-$17,000, and the median-$87,500. Broken down by month, the sale look like this: January 2008-54 / 2009-28 February 2008-52 / 2009-50 March 2008-55 / 2009-60 Looks pretty bad out there, but if you look at the most recent month, things seem to be picking up ever so slightly.
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Favorite Real Estate Links
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I was recently at a golf outing this past weekend up in the Big Rapids area and was able to have some good conversations with a couple of my friends, Bob and Pat, about the state of the Michigan, specifically Holland, real estate market. The conversation started off when I brought up the sale price of a home that we passed along our way through Zeeland. Pat was amazed at the fact that it sold for as much as it did, saying that he thought that the home would have sold for about 30% lower than it actually did. This statement was immediatley agreed upon by Bob, who said that he was thinking about just walking away from his home because of the recent reports of how bad the market is out there; worried that his home would be worth 10's of thousands less than he paid for it. Walk away?!! Really?!! don't you need a place to live? Pat didn't necessarily think that walking away was the answer, but maybe asking the bank to do a loan modification might work. OK, here's what's strange. Nothing has changed in either one of these guy's incomes, or is even looking like it's going to change. So why all of the fear? Well, what we have is, like the swine flu, a pandemic of sorts. Many people are infected with the notion that we are all going to lose our jobs and end up in the bread lines. You know what's going to cause that? walking away from houses, and thinking that no matter what, every home is worth 50% of it's original value.
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Grand Haven, Ottawa County - Announcing a price reduction on 11 S First St. #403, a 1,285 sq. ft., 2 bath, 2 bdrm single story. Now  MLS® $249,900 - SPECIAL PRICING. Property information
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Allegan County, Michigan - Announcing a price reduction on 619 Lakeshore Drive, a 3,038 sq. ft., 4 bath, 4 bdrm 3 story. Now MLS® $699,000 - Reduced! Lake Michigan. Property information
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For the month of November in the Grand Haven/Spring Lake area Real estate market for the month of November, 2007 compared to 2008. In 2007 there were 60 homes sold in the month of November with an average sale price of $220,658 compared to 36 homes sold in 2008, with an average sale price of $156,380; representing a 29% drop in average sale price, and a 40% drop in number of sales in the greater Grand Haven Real estate market area. Average list to sale price percentage in 2007 was 94.34%, and average ORIGINAL list price to sale price percentage was 90.8%; 2008's numbers were 96.60% and 90.2%. Average days on the market for these Grand Haven area homes was 184 in November, 2007 and in November, 2008 it took 179 days to sell these homes. The high, low, and median home sale prices in November 2007 were $1,200,000, $32,500, and $158,625 respectively; in 2008 they were $950,000, $39,900, and $196,500. Quite a drop off in sales and average sale price this year compared to last. Not mch of a shock, as these numbers are right in line with what the media is telling us.
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Lake Michigan real estate has held up quite nicely despite the economic conditions in 2008. For more specific statistics as it relates to a particular city, we'd be happy to provide you with statistics and sales for comparisons. Andrea Crossman
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• 2,100 sq. ft., 2 bath, 4 bdrm single story - MLS® $1,686,250 Bridgman, Berrien County - Only about 20 minutes North of the Indiana border sits this wonderful Lake Michigan cottage/retreat on low bluff, private wooded site with awesome wide & peaceful beach. A great place for family memories, small sailboats, windsurfing, kiting, swimming & just plain relaxing. Just North of Warren Dunes State Park & Weko Beach. 15 minute drive to the famous Tossi's Restaurant & Grand Mere water view retaurants. Property information
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Northside, Holland - Announcing a price reduction on 25 Bay Meadows, a 6,631 sq. ft., 4 bath, 5 bdrm 2 story. Now MLS® $689,900 - . Property information
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Grand Haven Township, Grand Haven - Announcing a price reduction on 18200 Shore Acres, a 3,912 sq. ft., 3 bath, 6 bdrm single story. Now MLS® $1,600,000 - . Property information
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