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2010 Home Expo Spurs Hope; Leelanau Building Permits Value down from '09

Old Mission Lighthouse, Michigan

This past weekend (Feb 27-28) was the 2010 Home Expo. The Record-Eagle was there and filed this report:

"Hundreds of builders, buyers and home improvement experts gathered Saturday at East Middle School to talk shop. Most acknowledge the ongoing economic recession hurt the construction and real estate industry in recent months, but many point to signs of growing market vitality.

"I think it's going to come back. It's picking up some," said Casey Edick, a Traverse City builder. "It's probably going to take a while. It's a tough market right now."

"New home construction and real estate sales slowed as the recession gathered steam, but things aren't entirely dismal, said Richard Baldwin, a Suttons Bay builder.

"A lot of people still have property with dreams of building," he said. Baldwin said many landowners opt to build energy-efficient homes in more cost-effective ways. Most are greatly concerned with spending wisely during these economic times.

"Last spring marked a low point in home sales, but low interest rates and tax incentives are helping the market, said Ron Williamson, a real estate agent with Coldwell Banker.

"It never ground to a halt, but it was close," he said. "I'm optimistic now. People are buying and selling. There's definitely a spike in activity, probably since November."

The Leelanau Enterprise has this story on the pace of building permits issued in Leelanau County so far in 2010:

"The number of building permits issued so far this year by the Leelanau County Construction Code Authority is exactly the same number issued by the same time last year.

"However, the estimated construction value of the 21 permits issued so far this year is about 64 percent lower than the year-to-date value reported in 2009.

"Over the latest two-week reporting period, nine new permits were placed in a file available for public perusal at the Code Authority office in the county Government Center building. The combined estimated construction value of the projects outlined on the nine new permits was $290,321, bringing the year-to-date value estimate to $1,380,122.

"By the same time in 2008, the number of permits was 18 though their estimated values were about 3.5 percent higher than this year. Last year at this time, we noted that 2008 had been the slowest year on record for construction activity in Leelanau County.

"Although that was true at the time, 2009 turned out to be the slowest year on record. It may be too early to say whether 2010 will set new record lows – but, so far, it appears we may be headed in that direction based on the slow start in January and February."

To read the full 2010 Home Expo story, click here.
For the Leelanau county building permits story, click here.

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Photo: The Rock at the Old Mission Lighthouse in Leelanau county by ETCphoto.

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