Friday, January 22, 2010

A Change In View, Offshore Wind Farm Proposed for Lake Michigan

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?

For more information on purchasing a waterfront home please contact the Andrea Crossman Group.

Tuesday, January 12, 2010

What's To Come In 2010?

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.

For more information on the real estate market contact the Andrea Crossman Group.

Friday, January 8, 2010

Happy New Year!!!!

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).