INSIDER
As people try to make ends meet, the rising cost of rent is a constant struggle. Right now, the average cost of rent across Metro Detroit is $1,176 will get you a little less than 800 square feet.
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LIVINGSTON COUNTY, Mich. – When Julie and Verdell Franklin saw their dream cottage come up for sale on Zukey Lake in Livingston County the couple knew they had to act fast. In the lawsuit filed in the Eastern District of Michigan the Franklins allege that almost nothing about how the realtor was acting felt right. The lawsuit claims they were ignored, not asked basic questions and eventually told nothing would be accepted less than the listing price. The Franklins sent discrimination complaints to both the Livingston County Realtors Association and the Fair Housing Authority who said they should look into a lawsuit. READ MORE: LIVINGSTON COUNTY HEADLINES
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ANN ARBOR, Mich. Combined, Tammi Ebenhoeh and her daughter, Alexa Ebenhoeh, have 22 years of experience in real estate around Ann Arbor, but neither expected the changes theyve seen in the market during the COVID-19 pandemic. Through this pandemic, it made me realize that real estate is essential. Housing is a need, not a want, said Alexa, a Charles Reinhart Realtor based in Ann Arbor. While people are rushing to buy homes, both Tammi and Alexa said that theyve seen a lot of deals be dropped. As for what the future of the Ann Arbor real estate market looks like, neither of the realtors is sure.
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During the COVID-19 crisis, weve all been forced to stay home a lot more and that has folks rethinking about where that home should be. Metro Detroit real estate agents claim business hasnt slowed down one bit. In the last two months, unemployment has been at an all-time high, so youd think people would stop buying homes like they did in past recessions -- but its actually the opposite. Real estate agent Nick Sloney said when the stay-at-home order was lifted, the market picked up immediately and that its a different kind of recession. Another reason people are eager to buy is the mortgage rates are at an all-time low.
