Lennar orders up 40 percent

Lennar Corp reported a rise in new orders for the fifth straight quarter and said a slow and steady recovery was underway in the housing market.

Lennar, the largest U.S. homebuilder behind D.R. Horton and PulteGroup Inc , also reported second-quarter earnings and revenue ahead of market estimates.

Miami-based Lennar said new orders jumped 40 percent to 4,481 homes. Orders are a key indicator for builders, which do not book revenue until they close on a house.

"We are experiencing net positive price and volume trends in most of our markets," Chief Executive Stuart Miller said.

Margins for the quarter rose to 22.5 percent, up 310 basis points from a year earlier, on a stronger pricing environment. The average sale price of a Lennar home rose to $$250,000 from $245,000 in the same quarter last year.

Home Sales and Selling Prices for May Continue to Rise Across Mi

According to the MLS reports compiled by the Michigan Association of REALTORS®, 11,516 single-family homes were sold in May, 2012, an increase of 18.56% over May, 2011 while the May 2012 average sales price was $111,535, an increase of 9.08% for the same time last year. Close to 30% of the MLSs reported an increase of 40%+ in number of home sales in May, while 22% reported an increase in sales price of 20%+.

Key Statistics:

$100,948 - 2012 average sales price, YTD
47,638 - 2012 single family units sold, YTD
$4.8 billion - 2012 total sales volume, YTD*

Best Places to Buy in 2012

The top city in Zillow's Best Places to Buy in 2012 was Grand Rapids, Mich., where home values have risen 4.8% since last spring and unemployment has fallen. The median home value in Grand Rapids is $108,000, making homes affordable on the city's median income.

Best Beach Front Home In Suttons Bay

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Rare opportunity to acquire a premium beach front home with established income generating business. One main house and three guest cottages on premises can be used as seasonal or annual rentals, two cottages with 1-bed room & 1 cottage with 2-bed rooms, each with bathroom and kitchen. Live in main house & take advantage of a  owner occupied interest rate loan. Main house has 4 bedrooms, and the absolute best view of the bay as well as private beach front with sugar sand beach and bottom. Located right next to public beach front expands possibilites for summer fun in coveted Suttons Bay.

 Go to http://www.cygnusrealestate.com for more details and pictures. Call Carole at Cygnus Real Estate 231.994.3225

The Big Get Bigger

The average size of a new home completed in 2011 was 2,480 square feet, up from 2,392 square feet in 2010, a new census report shows. In 1973, the earliest year represented in the report, the average new home just had 1,660 square feet. That number increased steadily, to 2,521 in 2007, then had fallen each year until 2011.

Home For Sale Overlooks Lake Michigan

Property For Sale

1197 S Manitou Trail • Lake Leelanau, MI 49653

Custom Built Home With Lake Michigan View

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Details Lot Size: 3.14 AC Property Type: Residential Sub Type: Single Family Home Interior Sq Ft: 3260 SF Parking: 2 Attached Garage Bedrooms: 3 Bathrooms: 3.5 Water View: West - Good Harbor Bay Desc Don't miss the opp. 2 acquire this custom built home perched on a hill high above Good Harbor Bay. The home showcases stunning views of the bay, Pyramid Point & Manitou islands. Truly amazing attention 2 detail is exhibited thruout,from the hand laid red & white herringbone pattern oak floor 2 the National Monument stairs. Turrets on 3 floors make this home truly unique, the oak panelled turret off the main flr bdrm is the perfect private retreat 4 the master. Don't w8-when it's gone there won't B another Features Awesome West Facing Water View Turret Spanning Three Floors Herringbone Hard Wood Floors Custom Trim and Molding National Monument Style Stairs Grand Foyer Wood Buring Field Stone Fireplace Main Floor Master Suite Geo-Thermal Heating Central AC French Doors Cherry Cabinets Energy Efficient Windows Energy Star Appliances Heated Garage Mud Room Unfinished Walk Out Basement Swim, Golf, Boat & Hunt Secluded Location Between Leland & Glen Arbor On Western Shore Of Leelanau Peninsula   Contact Agent: Carole Higgins Office: (231) 994-3225 x103 Mobile: (231) 633-2577 Listing Website: www.cygnusrealestate.com

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