Newsroom
March 20th, 2013
New team member – Janet Gilbert-Smith – Michigan Division Sales Manager!
Categories: Ann Arbor, Chelsea, Chelsea Fairways, Creekside, Jackson, Michigan |
! Janet comes to us from an extensive career in general real estate and new home sales and is a long time Ann Arbor …resident. Janet will be working with all of our Michigan communities including Ann Arbor, Saline, Chelsea, Jackson, Dexter, and Grass Lake. Please join us in a hearty “high five”! You can meet Janet in person at the Grand Opening of our new model at Westridge in Dexter this Saturday – March 23rd – Noon to 4pm 8300 Parkridge Dr., Dexter, MI 48130 For more information call 734-389-8811Norfolk Homes – 2012 Parade of Homes Award Winner - is proud to announce a limited building opportunity in the exclusive Brentwood community of Magnolia Vale. Located just off Concord Rd, Magnolia Vale offers the convenience of Brentwood with the atmosphere of Southern Elegance. With custom elevations designed by the award-winning Mitchell Barnett you will have the rare opportunity to build your home specialized to your tastes. There are only six homesites remaining… and one awaits your unique vision. Call today to schedule a construction consultation – 615-440-1539.
December 19th, 2012
More great signs of a housing recovery nationwide!
Categories: Alabama, Ann Arbor, Brentwood, Chelsea, Franklin, Housing recovery, Jackson, Michigan, Mt. Juliet, Smyrna, Tennessee, TN |
Below is a press release from the National Association of Home Builders.
December 18, 2012 – Builder confidence in the market for newly built, single-family homes rose for an eighth consecutive month in December to a level of 47 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. This marked a two-point gain from a slightly revised November reading, and the highest level the index has attained since April of 2006.
“Builders across the country are reporting some of the best sales conditions they’ve seen in more than five years, with more serious buyers coming forward and a shrinking number of vacant and foreclosed properties on the market,” observed NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. “However, one thing that is still holding back potential home sales is the difficulty that many families are encountering in getting qualified for a mortgage due to today’s overly stringent lending standards.”
“While there is still much room for improvement, the consistent upward trend in builder confidence over the past year is indicative of the gradual recovery that has been taking place in housing markets nationwide and that we expect to continue in 2013,” noted NAHB Chief Economist David Crowe.
Derived from a monthly survey that NAHB has been conducting for the past 25 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view sales conditions as good than poor.
Two of the HMI’s three component indexes are now above the critical midpoint of 50. The component gauging current sales expectations rose two points to 51 in December, while the component gauging sales expectations in the next six months slipped one point, to 51. The component measuring traffic of prospective buyers increased one point, to 36. Editor’s Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at www.nahb.org/hmi. More information on housing statistics is also available at http://www.housingeconomics.com.
December 12th, 2012
Even more great news for the Ann Arbor area!
Categories: Ann Arbor, Chelsea, Chelsea Fairways, Creekside, Housing recovery, Jackson, Michigan |
Even more great news for the Ann Arbor area! Norfolk Homes is so proud to be serving the communities in Ann Arbor, Saline, Chelsea, Dexter, Jackson, and Grass Lake. Now is the time to build your new home with Norfolk Homes! Below is an article from the Wall Street Journal from 12/6/12.
A Town Packed With Classrooms
With a host of top learning programs, Ann Arbor, Mich., is a magnet for the 50-plus crowd
By JULIE HALPERT
Jean and Flip Connell fell for each other while attending the University of Michigan in Ann Arbor in the late 1940s.
As it turns out, they fell for the town, as well.
Fifteen years ago—after careers in the nonprofit world (hers) and marketing (his), and after watching their two daughters attend the university—the Connells settled in Ann Arbor. Today, they often take in productions of the school’s musical theater program, attend football and basketball games, and hear lectures from visiting dignitaries, including the president of the Czech Republic, Vaclav Klaus. The Connells also are facilitators for a lifelong-learning program for individuals age 50-plus. In the past year they discussed Middle East realignment, cybersecurity and energy geopolitics, among other topics.
“We feel fortunate to be part of this fabulous college community,” says Jean Connell, age 83.
That sentiment is heard frequently among the area’s retiree population. Take one of the country’s top public universities, add an eco-friendly environment (with 24 miles of on-road bike lanes and 60 miles of park bicycle paths), a vibrant arts community and a leading medical facility (the University of Michigan Hospitals and Health Centers), and it’s little wonder that Ann Arbor is attracting transplants like the Connells.
Focus on Learning
Situated in southeastern Michigan, Ann Arbor takes its name from the abundance of trees in the area. The city, the sixth-largest in the state, is compact and easy to navigate—except during University of Michigan home football games.

Ann Arbor Area CVB
Like all cities, Ann Arbor has some downsides. Real-estate prices and property taxes tend to be high. Major department stores are in short supply (though downtown features a good number of small shops). And winters are harsh; gusty winds, in particular, make heading outdoors a challenge.
On the bright side, the city has “no floods, hurricanes or earthquakes,” says Wendy Mead, 60, who moved to Ann Arbor with her husband in 2000 and writes a blog titled “Retired in Ann Arbor.” (She solves the weather problem by spending winters in warmer climes such as New Zealand.)
Ms. Mead and her husband regularly take an 11-mile bike ride along a path from Ann Arbor to nearby Ypsilanti, which is often deserted on weekdays. They also canoe on the Huron River and take walks in the picturesque Nichols Arboretum and Gallup Park.
The city’s learning programs are a big attraction. The Osher Lifelong Learning Institute at the University of Michigan has 120 study groups that focus on topics such as philosophy, history, social science and the performing arts. Instructors are volunteers; many are retired or current professors at the university. About 700 people age 50-plus take classes each year, paying $20 for a membership and $40 for a 15-week class.
A similar program, called Elderwise, has attracted about 300 students. The 50 classes this fall included “How the Supreme Court Changed America” and “Ancient Greek and Roman Theater.” Membership is $30, and each course is $5.
Residents also flock to the city’s many artistic events. The University of Michigan’s School of Music, Theater and Dance puts on 10 staged performances a year and hosts about 500 free events, including concerts by students, faculty or guests.
Similarly, downtown is the stage for the city’s major attraction: the Ann Arbor Art Fairs, which take place every July. Many downtown streets are open only to pedestrians over a span of four days when artists from four separate art fairs display their wares. The event routinely attracts 500,000 visitors.
The Tax Debate
Voters usually support eco-friendly initiatives in this town, which leans liberal. The mayor, John Hieftje, in office since 2000, is a Democrat, as are all the members of the City Council except one, Jane Lumm, who is an independent. Ms. Lumm says her colleagues tend to show less fiscal restraint when it comes to the “more sexy, discretionary initiatives” but are reluctant to approve spending for basic city services.
Last month, voters defeated two millage requests. The first would have funded a major library reconstruction; the second, backed by most council members, would have supported public art in the city.
Christopher Taylor, a council member and Democrat, had said before the election that the art and library spending would make the city even more attractive to visitors and would-be transplants, far outweighing “the modest marginal costs to the individual taxpayer.”
Ms. Lumm, however, had said, “I do believe there’s a growing sentiment among some residents that Ann Arbor is becoming increasingly unaffordable as a result of the high and escalating tax and fee burden.”
Kate Kelly, 71, who retired to Ann Arbor four years ago from Portland, Ore., says she prizes the city’s “progressive-minded population” and the ability to walk to nearby cultural events. (She’s also a fan of organic food; a boisterous farmers market in Ann Arbor’s Kerrytown district is one of the outlets providing ample supplies of locally grown fare.) But she’s less enthusiastic about housing prices and high property taxes, which could strain her budget.
Janice Stickney, 71, paid almost $6,000 in property taxes in 2011 for the condo she purchased downtown in 2008. That figure, she says, might have dissuaded her from settling in the city—had she not moved from New Jersey, where taxes for the same property would have been closer to $8,000 or $9,000.
In the end, she says, the taxes—as well as the brisk winters—are a small price to pay for living in an otherwise ideal setting. “There are so many different types of things to do,” Ms. Stickney says. “You have an opportunity to find a niche.”
Ms. Halpert, a writer in Ann Arbor, can be reached at next@wsj.com.
December 11th, 2012
Great news for the improving Detroit area housing market!
Categories: Ann Arbor, Chelsea, Chelsea Fairways, Creekside, Housing recovery, Jackson, Michigan |
Norfolk Homes Nashville Division had a great evening last night at the Circle of Excellence Awards presented by the Sales and Marketing Council of the Middle Tennessee Association of Home Builders.
We would like to welcome the newest member to the Norfolk Homes sales team – Jeremy Kammerer! Jeremy comes to us with a fantastic background in new construction sales and is outstanding at helping customers discover the right home. Jeremy will be selling in our Oak Hall and Timber Trail communities in Mt. Juliet, TN.
October 1st, 2012
Now is not just a great time to purchase a new Norfolk Home… It is a SMART time!!
Categories: Alabama, Ann Arbor, Brentwood, Chelsea, Chelsea Fairways, Creekside, Franklin, Housing recovery, Jackson, Michigan, Mt. Juliet, Smyrna, Tennessee, TN |
This is a great article from CNNMoney Magazine. Now is not just a great time to purchase a new Norfolk Home… It is a SMART time!!
NEW YORK (CNNMoney) — In another sign of a turnaround in the long-battered real estate market, average home prices rebounded in July to the same level as they were nine years ago.
According to the closely watched S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, the typical home price in July rose 1.6% compared to the previous month.
It marked the third straight month that prices in all 20 major markets followed by the index improved, and it would have been the fourth straight month of improvement across the full spectrum if not for a slight decline in Detroit in April.
The index was up 1.2% compared to a year earlier, an improvement from the year-over-year change reported for June. While home prices have been showing a sequential change in recent months, it wasn’t until June that prices were higher than a year earlier.
The July reading matched levels last seen in summer 2003, when the market was marching toward its peak in 2006. The collapse of the market after that led to the financial crisis of 2008.
“The news on home prices in this report confirm recent good news about housing,” said David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. “Single-family housing starts are well ahead of last year’s pace, existing home sales are up, the inventory of homes for sale is down and foreclosure activity is slowing.”
Record low mortgage rates and a tighter supply of homes available for sale have helped to lift home prices. Lower unemployment also has helped with home prices, although job growth in recent months has been slower than hoped.
Earlier this month, the Federal Reserve announced it would buy $40 billion in mortgage bonds a month for the foreseeable future. This third round of asset purchases by the central bank, popularly known as QE3, is its effort to jump start the economy through even lower home loan rates.
Related: Best home deals in Best Places
Mike Larson, real estate analyst with Weiss Research, said part of the improvement in the housing market is due to investors using the low mortgage rates to buy up homes that are in foreclosure and renting them in a strong rental market.
But he said that he doesn’t think there’s much chance of housing prices forming any kind of new bubble in the foreseeable future.
“Clearly the worst is behind us for this market., but this is not a market that is going to take off again,” he said. “While you have a firming up, you still have tight lending standards and people who have been burned are reluctant or unable to get back in the market.” He predicts it will take several more years before housing prices can gain more than 1% to 2% a year.
Related: Buy or rent? 10 major cities
But that is good news for a housing market that was plagued by plunging home values and high foreclosure rates for much of the last six years. And the good news has the potential to build on itself, said Joseph LaVorgna, chief U.S. economist for Deutsche Bank.
“Housing remains a rare bright spot in an economy that is otherwise muddling through,” he wrote in a note to clients Tuesday. “The price trend for housing is significant, because it provides economic stimulus via stronger household balance sheets.”





