petoskey: City Grants Petoskey Pointe An Extension
- 02/18/08 08:29 AM
The Petoskey City Council, by a vote of 4-1, recently granted an extension of the deadline for "substantial completion" of the Petoskey Pointe Project from early November of 2008 to December 31, 2009. The deadline is contained in an agreement between the City and Lake Street Petoskey Associates, the Farmington Hills developer of the Project. The Petoskey News Review reported that work on the hotel/retail/condominium project stalled last year after National City Bank withdrew its financing. The Developer requested an extension of the substantial completion deadline in December of 2007, indicating that new financing arrangements involving overseas funds were close to being finalized. To provide protection for … (0 comments)
petoskey: Petoskey is a Great Place to Retire
- 01/15/08 04:21 PM
Petoskey, Michigan is being featured along with seven other towns in the January/February 2008 issue of Where to Retire magazine, in an article entitled "8 Terrific Low-Tax Towns." The article notes that ". . . in Petoskey, the skiing, sailing and scenery attract many retirees who also enjoy upscale dining options, a charming downtown with boutique shopping and a reasonable cost of living." The article explains that the yearly local tax burden on a hypothetical retired couple with an annual income of $60,000 and a home value of $225,000 would be $4,084.00 This amount would be even lower for a home located outside the city limits. Resort … (0 comments)
petoskey: Petoskey Real Estate Market Year End Report
- 01/08/08 12:35 AM
Petoskey real estate sales volume decreased in 2007 from 2006, which is not a surprise based upon the weak state and local economies. Unit sales of single family homes and condominiums in the Petoskey School District decreased to 255 units from 282 units, a decline of over 9%. Petoskey home sales by dollar volume also fell, from $98,896,350 in 2006 to $82,476,049 in 2007, a decline of more than 16%.Despite the decline in sales activity for Petoskey homes and condominiums, the median Petoskey home price actually increased by just under 1%, from $188,500 in 2006 to $190,000 in 2007. Average days on … (1 comments)
petoskey: Many Petoskey Commercial Real Estate Projects Planned
- 12/07/07 12:38 AM
It has been a busy month for area planners as a host of approvals are being sought for new commercial real estate projects in the Petoskey area. Walgreens is reportedly planning on building a new store on Petoskey's north side, at the site currently occupied by Kentucky Fried Chicken and the old Schelde's restaurant. Oleson's is seeking approval to construct a new store on U.S. 31 North across from Dave Kring's Chevrolet - Cadillac car dealership. JoAnn Fabrics is looking to relocate from their current location in the Glen's North Plaza to Bear Creek Plaza (near Wal-Mart and Home Depot, and … (0 comments)
petoskey: Northern Michigan Regional Hospital in Petoskey
- 12/06/07 06:02 AM
Northern Michigan Hospital has changed its name to Northern Michigan Regional Hospital. Along with the new name comes a new logo as well. Very classy.How very fortunate we are to have such an excellent regional referral hospital in our small Northern Michigan community, with its kind and caring professional staff providing almost every type of specialized care available.If you are considering an employment opportunity with Northern Michigan Regional Hospital and have questions about our beautiful area, we would be pleased to speak with you about our community and the local real estate market without obligation. We have in depth knowledge of local housing opportunities, area neighborhoods and schools, … (2 comments)
petoskey: Petoskey Featured in "101 Best Outdoor Towns"
- 06/28/07 04:55 AM
Petoskey is an ideal place for lovers of the outdoors, as confirmed by former Men's Journal editors Sarah Tuff and Greg Melville, who have featured Petoskey in their recently released book, "101 Best Outdoor Towns."Having experienced our "million dollar" sunsets, the authors share that "The Caribbean has nothing over the view from town as the sun extinguishes into Lake Michigan behind the creamsicle horizon." Searching for a romantic getaway? Couple the beautiful sunsets with "the back-in-time feel of the artsy downtown Gaslight District, the long beach walks and the views of Little Traverse Bay from the top of sandy Old Baldy, and you've got one of the most … (8 comments)
petoskey: Continental Structural Plastics Closing Petoskey Plant
- 04/03/07 02:58 PM
Both the Petoskey and Michigan economies suffered yet another kick to the stomach when Continental Structural Plastics recently announced that it would be closing its Petoskey factory, which currently employs approximately 100 workers. According to company vice president Tom Hillborn, "It's unfortunate but the auto industry in Michigan is moving south and our government in Lansing hasn't ben able to stop this trend." State Senator Jason Allen, commenting on the plant closure, stated that the continuing loss of Michigan manufacturing jobs is very sad. "In 2000, one third of the cars assembled in the U.S. were assembled in Michigan. This year, it's … (0 comments)
petoskey: 2006 Petoskey Real Estate Market Recap
- 02/27/07 05:43 PM
Despite a beleaguered Michigan economy, Petoskey residential real estate sales volume, measured in terms of both unit and dollar volume, actually increased in 2006 from 2005. Unit sales of single family homes and condominiums in the Petoskey School District increased from 273 to 282 units, an improvement of approximately 3.3%, whiles sales by dollar volume increased to $98,806,750 in 2006 from $80,207,165 in 2005, a significant increase of over 23%. The increase in sales volume did come at the expense of lower prices, as the median Petoskey home price dropped by 4.5%, from $197,090 in 2005 to $188,500 in 2006. The average days on market of … (0 comments)
petoskey: Petoskey Holiday Parade Does Not Disappoint
- 11/25/06 12:49 PM
Thousands lined the streets for the Stafford's Downtown Petoskey Holiday Parade, hoping to get a glimpse of Santa and his reindeer. Despite unseasonably warm weather in the 50's, Santa did not disappoint, spreading holiday cheer to all paradegoers, and delighting the young children in attendance. Following the parade, the children had an opportunity to go over their wish lists with Santa, and to pet the two reindeer who made the trip all the way from the North Pole. What a wonderful Northern Michigan tradition, and a great kickoff to the Holiday Season!
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petoskey: Honor Our Veterans - Vote This Election Day
- 11/06/06 05:07 PM
I was saddened to read the obituary of former Charlevoix resident Army Major Douglas E. Sloan in today's Petoskey News Review. A decorated veteran, Sloan was killed in "Operation Enduring Freedom" combat operations in Afghanistan on October 31st, leaving behind his wife Kerry and four young children. Flags in Charlevoix are being flown at half-staff in his honor. Although I did not know Major Sloan personally, we both graduated from high school in 1985 and played football against each other. How can one even begin to comprehend the untold sacrifices which have been made by Major Sloan and countless other veterans … (1 comments)
petoskey: Petoskey Real Estate Market Stabilizes in 3rd Quarter
- 10/22/06 05:27 AM
The Petoskey real estate market showed some signs of stability in the most recent quarter, with sales actually increasing from the same quarter last year. There were 86 residential sales in the 3rd quarter of 2006, compared to 80 sales in 2005. Also, dollar volume increased to $29,605,446, from $23,028,200 in the 3rd quarter of 2005, a very healthy increase of over 28.5%. While these numbers are far shy of the 114 residential sales and $35,313,347 in dollar volume recorded in the 3rd quarter of 2004, they are an improvement nonetheless, and a welcome sign of stability, and even improvement, in the Petoskey residential real estate market. … (0 comments)
petoskey: Surf's Up Petoskey!
- 10/17/06 06:39 PM
I never imagined I would wake up to a raging blizzard on Friday, October 13th. I can remember having a few snowflakes in October, but nothing like this. You can imagine my surprise when I saw four surfers in the waters of Little Traverse Bay in the middle of the snowstorm!Now I actually remember reading an article earlier this year about how good the surfing can be on Lake Michigan. Other than the temperatures in the 30's and blinding intermittent snow squalls, surfing conditions were ideal, with winds steady at 30+ knots and wave heights peaking at fourteen feet (according to … (3 comments)
petoskey: Northern Michigan Real Estate Sales - 3rd Quarter 2006
- 10/17/06 06:04 PM
Northern Michigan residential real estate sales for the 3rd Quarter of 2006 declined over 15% from year ago levels, dropping from 242 sales in the 3rd Quarter of 2005 to 205 sales in the 3rd Quarter of 2006. The 205 residential sales in the Petoskey, Harbor Springs, Charlevoix and Boyne City school districts represents a sales volume decline of over 25% from the high of 274 residential sales in the 3rd Quarter of 2004.Note: Based on information obtained from the Northern Michigan Multiple Listing Service for the period from July 1 - September 30, 2001-2006. … (2 comments)
Northern Michigan Real Estate news, commentary and market information published by Stefan Scholl, real estate attorney, exclusive buyer agent and broker/owner of Buyer's Broker of Northern Michigan, LLC.
The Petoskey City Council, by a vote of 4-1, recently granted an extension of the deadline for "substantial completion" of the Petoskey Pointe Project from early November of 2008 to December 31, 2009. The deadline is contained in an agreement between the City and Lake Street Petoskey Associates, the Farmington Hills developer of the Project. The Petoskey News Review reported that work on the hotel/retail/condominium project stalled last year after National City Bank withdrew its financing. The Developer requested an extension of the substantial completion deadline in December of 2007, indicating that new financing arrangements involving overseas funds were close to being finalized. To provide protection for … (0 comments)
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