Month: March 2022

The link between financial security and homeownership is especially important today as inflation rises.  But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says:

“Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.”

Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal.

Owning a Home Is a Building Block for Financial Success

A recent NAR report details several homeownership trends and statistics, including the difference in net worth between homeowners and renters. It finds:

“. . . the net worth of a homeowner was about $300,000 while that of a renter’s was $8,000 in 2021.”

To put that into perspective, the average homeowner’s net worth is roughly 40 times that of a renter (see visual below):

The results from this report show that owning a home is a key piece to the puzzle when building your overall net worth.

Equity Gains Can Substantially Boost a Homeowner’s Net Worth

The net worth gap between owners and renters exists in large part because homeowners build equity. As a homeowner, your equity grows as your home appreciates in value and you make your mortgage payments each month.

In other words, when you own your home, you have the benefit of your mortgage payment acting as a contribution to a forced savings account. And when you sell, any equity you’ve built up comes back to you. As a renter, you’ll never see a return on the money you pay out in rent every month.

To sum it up, NAR says it simply:

“Homeownership has always been an important way to build wealth.”

Bottom Line

The gap between a homeowner’s net worth and a renter’s shows how truly foundational homeownership is to wealth-building. If you’re ready to start on your journey to homeownership, let’s connect today.

Some Highlights

• With inflation driving up the cost of everyday items, seeking out an energy-efficient home can be a great way to decrease the expenses you can control.
• Energy efficiency can help lower your utility bills and possibly even save you money on your taxes. Options to look for include efficient appliances, windows, and solar panels.
• If you’re planning to buy a home this year, consider energy efficiency in your search. Let’s connect so you can better understand features that can save you money for years to come.

It’s no secret that there are loads of lighthouses in Michigan. After all, our state’s unique position along the Great Lakes has made us a prime spot for these shoreline beacons throughout the generations. While some of the region’s lighthouses exist without much interest or intrigue, one mysterious lighthouse in Michigan manages to draw in visitors with its unique combination of history and spooky delight. You’ll undoubtedly want to check it out for yourself.

The White River Light Station Museum is located along Murray Road in the city of Whitehall.

The lighthouse itself, which sits on a small section of land between Lake Michigan and White Lake, was first constructed all the way back in 1875. There’s no denying the sense of history that permeates this space.

While it presently operates as a museum, the building boasts a fascinating (and decidedly eerie) past. For its first 47 years, the site was kept and occupied by Captain William Robinson, his wife, and their 13 children.

Robinson himself is, of course, no longer living – but many lighthouse visitors and locals report hearing the sound of his cane tapping along the floors of the building. It seems he feels a sense of possessiveness.

If the light’s apparent haunting weren’t enough, it also bears significance in that it was once managed by Frances Marshall, who holds the title of Michigan’s last female lighthouse keeper. Talk about fascinating!

Of course, you’ll simply have to check the White River Light Station out for yourself to determine whether its haunted state is a reality. The lighthouse and its accompanying museum are open to the public seasonally.

When you visit, you’ll have the chance to scale a set of spiral stairs and gaze out upon the wonders of Lake Michigan and White Lake. There are also loads of artifacts, photos, and other items to peruse here.

Whether you’re a full-blown history buff, a believer in all things paranormal, or simply a curious traveler, there’s something wonderful to be discovered at Michigan’s White River Light Station Museum.

For additional information about the impressive White River Light Station, including up-to-date hours, check out its website. Have you and your family climbed to the top of this unique spot during previous outings? Share your experiences with us by leaving a Facebook comment or tell us about another mysterious in lighthouse in Michigan by completing our nomination form.

Are you in the mood for even more intrigue and fun? Read about this murder mystery dinner in Michigan.

The post The History And Mystery Behind Michigan’s White River Light Station Is More Intriguing Than You Might Think appeared first on Only In Your State.

Are you searching for an awesome getaway in Michigan that will satisfy your taste buds while providing plenty of fun activities? We’ve got just the spot, whether you’re seeking a romantic escape or the perfect place for a girls’ weekend. Get ready to dig into delicious fare while unwinding among breathtaking surroundings. This foodie resort in Michigan has something for everyone.

Grand Traverse Resort and Spa is located along Grand Traverse Village Boulevard in Acme.

This beautifully maintained spot is so much more than your standard hotel or resort. In fact, it’s home to some of the state’s best amenities, from an on-site spa to a stunning golf course and everything in between.

Luxury and hospitality are at the forefront of this fun destination. Whether you opt to stay in a condo, a standard family-friendly room, a resort tower space, or a larger suite option, you’ll be enamored.

While some folks come to Grand Traverse Resort to enjoy a weekend of golfing or even explore the in-house water playground with kids, others are especially keen on the resort’s five restaurants and lounges.

Yes, you read that right: there are five unique spaces to order food within the resort. Aerie is the most beloved, offering incredible views and fine cuisine on the 16th floor of the resort’s tower building.

For something a bit cozier, check out Sweetwater Bistro. This family-oriented restaurant sits just a stone throw from the main lobby and offers a warm, welcoming environment and food for everyone to enjoy.

During warmer months, dig into mouthwatering fresh fare at The Grille, an outdoor eatery. Jack’s Taproom and the Den Bar wrap up Grand Traverse’s main dining options with an array of delectable pub fare.

Whether you’re planning an anniversary celebration, a weekend with friends, or a family vacation, one thing is for sure: you’ll be happily overwhelmed by the dining and unwinding options at this Michigan gem.

For additional information and full booking options, visit the official website for Grand Traverse Resort and Spa. Have you and your loved ones enjoyed a getaway at this foodie resort in Michigan, which boasts a little something for everyone? Share your experiences with us by leaving a Facebook comment or recommend another unique resort in Michigan by completing our nomination form.

Are you still feeling hungry? You might want to read about this remote log cabin restaurant in Michigan.

The post With 5 Incredible Restaurants, This Michigan Resort Is Paradise For Foodies appeared first on Only In Your State.

Do you have a serious sweet tooth? If so, you’ve got plenty of destinations to choose from here in the Great Lakes State, from charming bakeries to quaint cafes to ice cream shops galore. While these traditional eateries have their appeals, there’s nothing better than taking things up a notch when it comes to dessert. One epic milkshake bar in Michigan will keep your taste buds tingling, so prepare to indulge.

Bad Habit is located along South Beacon Boulevard in the lakefront city of Grand Haven.

When you’re craving something sweet, we truly can’t imagine a better destination. Bad Habit is a decidedly unique milkshake bar that serves some of the most massive and mouthwatering creations imaginable.

The shop first opened its doors in March 2022 and has quickly generated a buzz among locals and out-of-town visitors alike. Trust us when we say that this is anything but an ordinary ice cream parlor.

The milkshake creations here are jaw-droppingly decadent. Each smooth blend is topped with items like cake slices, donuts, candy bars, cookies, chocolate syrup, caramel, whipped cream, and so much more.

Chocolate fanatics will love the Slacker, which features chocolate ice cream, chocolate frosting, Reese’s peanut butter cups and pieces, wafer cookies, and a full-blown slice of chocolate peanut butter cake.

Another favorite is the Day Dreamer, which comes complete with vanilla ice cream, strawberry drizzle, cotton candy, powdered donuts, candy bark, vanilla frosting, whipped cream, and a “unicorn horn.” Yum!

If that weren’t enough, Bad Habit also serves specialty ice cream floats and mini Dutch pancakes with plenty of toppings. You might even want to skip dinner and focus solely on sweetness when you visit this locale.

Whether you’ve got a hankering for cheesecake, chocolate, mint chocolate chip, fruity goodness, cookies and cream, peanut butter, or something in between, Bad Habit will quickly become your new favorite place.

For additional information about this absolutely magnificent milkshake bar in Michigan, check out the shop’s official website. Do you and your loved ones plan to stop by to indulge? Which flavor sounds the most marvelous? Share your thoughts with us by leaving a Facebook comment or recommend another unique sweet shop in Michigan by completing our nomination form.

If you can’t get enough sweetness, be sure to read about this long-standing family bakery in Michigan.

The post Michigan’s Incredible Milkshake Bar Is What Dreams Are Made Of appeared first on Only In Your State.

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune.

Here’s a look at what experts say you can expect this spring.

1. Mortgage Rates Will Climb

Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild fluctuation in recent weeks, experts believe rates will continue to edge up over the next 90 days. As Freddie Mac says:

“The Federal Reserve raising short-term rates and signaling further increases means mortgage rates should continue to rise over the course of the year.”

If you’re a first-time buyer or a seller thinking of moving to a home that better fits your needs, realize that waiting will likely mean you’ll pay a higher mortgage rate on your purchase. And that higher rate drives up your monthly payment and can really add up over the life of your loan.

2. Housing Inventory Will Increase

There may be some relief coming for buyers searching for a home to purchase. Realtor.com recently reported that the number of newly listed homes has grown for each of the last two months. Also, the National Association of Realtors (NAR) just announced the months’ supply of inventory increased for the first time in eight months. The inventory of existing homes usually grows every spring, and it seems, based on recent activity, the next 90 days could bring more listings to the market.

If you’re a buyer who has been frustrated with the limited supply of homes available for sale, it looks like you could find some relief this spring. However, be prepared to act quickly if you find the right home.

If you’re a seller, listing now instead of waiting for this additional competition to hit the market makes sense. Your leverage in any negotiation during the sale will be impacted as additional homes come to market.

3. Home Prices Will Rise

Prices are always determined by supply and demand. Though the number of homes entering the market is increasing, buyer demand remains very strong. As realtor.com explains in their most recent Housing Report:

“During the final two weeks of the month, more new sellers entered the market than during the same time last year. . . . However, with 5.8 million new homes missing from the market and millions of millennials at first-time buying ages, housing supply faces a long road to catching up with demand.”

What does that mean for you? With the demand for housing still outpacing supply, home prices will continue to appreciate. Many experts believe the level of appreciation will decelerate from the high double-digit levels we’ve seen over the last two years. That means prices will continue to climb, just at a more moderate pace. Most experts are predicting home prices will not depreciate.

Won’t Increasing Mortgage Rates Cause Home Prices To Fall?

While some people may believe a 1% increase in mortgage rates will impact demand so dramatically that home prices will have to fall, experts say otherwise. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, says:

“What I will caution against is making the inference that interest rates have a direct impact on house prices. That is not true.”

Freddie Mac studied the impact that mortgage rates increasing by at least 1% has had on home prices in the past. Here are the results of that study:

As the chart shows, mortgage rates jumped by at least 1% six times in the last thirty years. In each case, home values increased.

So again, if you’re a first-time buyer or a repeat buyer, waiting to buy likely means you’ll pay more for a home later in the year (as compared to its current value).

Bottom Line

There are three things that seem certain going into the spring housing market:

1. Mortgage rates will continue to rise
2. The selection of homes available for sale will modestly improve
3. Home prices will continue to appreciate, just at a slightly slower pace

If you’re thinking of buying, act now before mortgage rates and home prices increase further. If you’re thinking of selling, your best bet may be to sell soon so you can beat the increase in competition that’s about to come to market.

If you adore shopping, history, and wholesome family fun, we’ve got the ideal destination for you. While Metro Detroit is home to more than its fair share of historic sites and charming boutiques, one special spot stands out above the rest for its storied past, awesome inventory, and friendly service. The next time you’re seeking a decidedly unique family day trip, venture to the oldest general store near Detroit.

Dixboro General Store is located along Plymouth Road in Ann Arbor. This long-standing destination can be reached by car from downtown Detroit in approximately 40 minutes, making it ideal for a day trip.

Whether you’re on the hunt for a lovely gift, hoping to do a bit of shopping for yourself, or simply craving a dose of local history, you’ll love Dixboro General Store. There’s truly something here for everyone.

The shop first opened its doors all the way back in the early 1840s. During this era, travelers stopped by via horse and buggy during the journey between Detroit and Ann Arbor – talk about a fascinating past.

Throughout the generations, the shop and its building saw many uses, from housing for merchants to an upstairs dance hall to a post office and hairdresser. During the 1920s, a gasoline pump was installed.

During the years, there were also struggles: in fact, Dixboro closed temporarily during World War II and ultimately shuttered during the 1980s before being revived and renovated during the early 1990s.

Today, visitors will find an inviting shop that perfectly combines a sense of history with all sorts of modern-day delights. From home decor to jewelry and candy, there’s so much to discover inside.

Walk atop gorgeous hardwood floors as you peruse an ever-evolving inventory. There’s something wonderful to discover in every season, so we recommend stopping by regularly to see what’s new at the general store.

As you prepare for your next family day trip near Detroit, keep this quaint and storied general store on your must-visit list. You’ll be taking a step back in time (and doing some serious shopping) before you know it.

If you’d like to learn more about the history and selection at the oldest general store near Detroit, check out the official Dixboro General Store website. Have you and your family made memories at this fun locale during previous jaunts out of the Motor City? Share your experiences with us by leaving a Facebook comment or recommend another unique shop near Detroit by completing our nomination form.

Are you charmed by historic businesses? If so, you’ll want to read about this generations-old bakery in Michigan.

The post The Oldest General Store Near Detroit Has A Fascinating History appeared first on Only In Your State.

If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control.

Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the industry, you can make an informed decision on whether to look for a newly built or an existing home in your home search.

Supply Chain Issues

The first hurdle builders are dealing with is the lack of supply of various building materials. According to a recent article from HousingWire:

“. . . Nearly everything needed in the homebuilding process is facing some sort of delay and subsequent price increase.”

The supply issue isn’t just with lumber, even though that’s what’s covered most in the news. The article explains many other supplies are impacted too, including roofing materials, windows, garage doors, siding, and gypsum (which is used in drywall).

The difficulty in getting these items is dragging out timelines for new homes as builders wait on what they need to finish construction. And since materials are in short supply, even when they do get the product, the principle of supply and demand is driving prices up for those goods. HousingWire explains it like this:

“When supplies are low, charges inevitably go up, . . . Meanwhile, a lack of availability is causing huge delays, meaning builders are struggling to stay on schedule.”

The National Association of Home Builders (NAHB) agrees:

“Builders are grappling with supply-chain issues that are extending construction times and increasing costs.”

Skilled Labor Shortage

But that’s not the only challenge with new home construction today. Builders are also having a hard time finding skilled labor, which means they’re short-handed, further dragging out their timelines. Odeta Kushi, Deputy Chief Economist at First American, says this is an ongoing challenge for the industry:

“The skilled labor shortage in the construction industry is not new – it’s been an issue for more than a decade now.”

But there is good news. The February jobs report shows employment gains in the construction industry. Kushi puts this encouraging news into perspective in the article mentioned above:

“Overall this was a good report, . . . The supply of workers continues to fall short of demand, but the underlying momentum of the labor market recovery is strong, and falling COVID case counts provide further forward momentum.”

That means, while finding workers continues to be a challenge for builders, there are signs of positive momentum moving forward.

How This Impacts You

HousingWire explains how these things can impact move-up buyers today:

“The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Explosive supply and labor costs are forcing long delays. . . .” 

So, when you weigh your options and try to decide between building a home or buying an existing one, factor the potential delay in new home construction into your decision. While it doesn’t mean you should cross newly built homes off your list, it does mean you should consider your timeline and if you’re willing to wait while your home is being constructed.

Bottom Line

When planning your next move, understanding the latest market conditions is key to making the best decision possible. To make sure you have all the information you need, let’s connect. Together we can make sure you know what’s happening in our local market so you can confidently decide what’s right for you, your priorities, and your timeline.

If you’re a lifelong Michigander (particularly if you grew up in West Michigan), chances are good that you’ve explored Tulip Time in Holland at least once. Regardless of whether you’re a repeat attendee, though, this spectacular gathering is so worth checking out. When springtime rolls around, millions of tulips bloom in vibrant color throughout the lakeside community, drawing in adventurers of all ages. Round up a few loved ones, mark your calendar, and get ready to explore this enchanting tulip festival in Michigan.

The waterfront city of Holland is notable for many things: its charming downtown area (which comes complete with heated sidewalks), its access to Lake Michigan, a plethora of breweries and eateries, and more.

While there’s much to appreciate in Holland all year long, early May might just be the most magical time to visit. After all, this is when the city comes to life with bright, fragrant tulips and a celebratory atmosphere.

The annual Tulip Time Festival, which embraces the area’s Dutch heritage and draws in large crowds of tourists, dates back to 1929. For many locals, it’s not truly springtime until Tulip Time rolls around.

For the 2022 season, Tulip Time will kick off on May 7th and extend through the 15th. During this time, visitors can enjoy everything from bustling parades to carnival rides to cultural gatherings galore.

Of course, the main draw of the festival is its tulips. Whether you’re meandering along designed “Tulip Lanes” or exploring Veldheer Tulip Gardens, you’ll find millions (yes, millions) of tulips throughout town.

Take time to watch local high school students perform Klompen dancing while donning traditional wooden shoes or stroll through an artisan market. Round it all out with a few tasty eats from carnival vendors.

While Holland’s marvelous tulips are certainly a sight to behold, there’s one important rule to keep in mind: don’t pick them! Take photos galore, but keep your hands off the flowers to avoid a potential fine!

As you start planning your springtime outings here in the Great Lakes State, carve out time to explore Tulip Time. This one-of-a-kind West Michigan festival is the ideal way to ring in a brand new season.

If you’d like more information and a full schedule of events, be sure to visit the Tulip Time website. Have you and your family made memories at this fun-filled event in Holland during years past? Share your experiences with us by leaving a Facebook comment or recommend another seasonal festival in Michigan by completing our official nomination form.

To plan for yet another warm-weather adventure that includes plenty of blooms, check out our Michigan lavender road trip.

The post The Tulip Time Festival In Michigan Will Have Millions Of Tulips In Bloom This Spring appeared first on Only In Your State.

What’s better than spending a day with your loved ones? Spending a day with your loved ones without spending a single dime! Luckily for those of us who live in the Motor City, there are plenty of budget-friendly ways to make memories. When you’re searching for a great adventure that will keep both your family and your wallet happy, check out these nine free activities in Detroit. There’s something for everyone to enjoy.

1. Check out Belle Isle’s many attractions

While there is a small admission fee to enter Belle Isle by car, entrance is free to those who enter the island park via bicycle or by foot – so plan to do a bit of extra walking or peddling if you want to keep your journey 100% free of charge! When you get to Belle Isle, you’ll enjoy free admission to most of its attractions, including the historic Belle Isle Aquarium and Belle Isle Nature Center. The whole family is almost guaranteed to have a blast exploring this unique locale.

2. Visit the Detroit Institute of Arts

Many Detroiters don’t realize that entrance to the DIA is free for residents of Wayne, Macomb, and Oakland Counties. That’s right: if you live locally, you can explore this stunning and impressive art museum without dropping a single dollar. There are over 100 galleries to peruse, covering a vast array of artistic eras and providing guests the chance to embrace art history while making memories with loved ones.

3. Get happily lost at the Detroit Public Library

You might not think of a library as the ideal spot to spend a day, but we beg to differ. After all, the Detroit Public Library’s main branch is a beautiful building that features incredible architecture, a true sense of history, and – of course – a top-notch collection of literature, documents, reference materials, and so much more. Even if you’re simply walking through without a specific destination or title in mind, you’ll be enamored by this (totally free) space.

4. Stroll along the RiverWalk

Stretching your legs is one of the best ways to experience the Motor City, particularly along the lovely RiverWalk. This gorgeous frontage along the shores of the Detroit River truly has a little something for everyone to enjoy, from green spaces to public art to eateries and more. Extend your journey by continuing along the Dequindre Cut, a unique two-mile pathway that meanders all the way to Eastern Market. We can’t imagine a more refreshing way to enjoy the city without spending a dime.

5. Enjoy a picnic at Milliken State Park

While you’re exploring the RiverWalk, take time to unwind at Milliken State Park. That’s right: there’s a bonafide state park right here within the Motor City, and you’ll want to drop in when you’re eager to reconnect with nature. For an awesome free activity, pack a picnic lunch and round up the entire family for a charming meal within the park. You’ll enjoy views of the river, the city skyline, and even a lovely lighthouse along the shore – just don’t forget the sunscreen!

6. Appreciate lush beauty at Indian Village Centennial Garden

Is there anything more relaxing than gazing at blooming flowers and lush greenery? One public garden in a history-rich Detroit neighborhood fits the bill. This community garden along Charlevoix Street within the Indian Village neighborhood is a small but marvelous place to visit for free fun and a serene vibe. There are even live music events and other gatherings in this charming space throughout the warmer months, so you might just find yourself returning time and time again.

7. Explore Campus Martius Park

No matter what the season, there’s something awesome (and free) to appreciate at Campus Martius Park. When temperatures are hot, be sure to check out the man-made city beach that brings the park to life with playfulness and fun. Or, if you’re just hoping to expend some energy, stroll throughout the 1.2-acre space to enjoy monuments, green space, and everything in between.

8. Visit Eastern Market

When you’re eager to embrace the sights, sounds, and aromas of city life, head to Eastern Market and stroll past vendors of all sorts. From fresh flowers to produce to handicrafts, there’s something here to delight each and every visitor – and you can make your way through without spending a single dime. The Saturday market has been a fixture of Motor City life for upwards of 125 years, so you’ll feel like you’re partaking in a time-tested tradition when you stop in.

9. Read the day away at John K. King Used & Rare Books

There’s something magical about losing yourself among shelf after shelf of books, and John K.King Used & Rare Books boasts an entire four stories of titles to peruse. In fact, there are approximately one million books here, so you’ll find treasures galore as you make your way through. Whether you spend hours sifting through rare finds or simply enjoy a quick venture through the shop, you don’t have to make a purchase to fall in love with this bookworm’s paradise in Detroit.

So, there you have it: nine of the best free activities in Detroit, with options ranging from natural attractions to historical sites. Whether you’re a local or an out-of-towner, you’ll appreciate the chance to experience the Motor City free of charge. Did any of your favorites make our list? Share your thoughts with us by leaving a Facebook comment or recommend another free attraction in Detroit by completing our nomination form.

Searching for another free place to visit? Read about this whimsical garden near Detroit.

The post 9 Legitimately Fun Things You Can Do In Detroit Without Spending A Dime appeared first on Only In Your State.