Monday, September 26, 2005

Sales head down on homes up north

Sales head down on homes up north - 09/25/05: "When Friske Orchards bought a 35-acre parcel in this northern Michigan community, the plan was to carve part of it into a 10-home subdivision with sweeping views of Lake Michigan.
Now, five years later, Orchard Ridge Estates isn't nearly as grand as its name suggests. While eight of the lots have been sold, just one home has been built -- an unsold three-bedroom traditional listed at $325,000.
The state's struggling economy, which already has punctured Metro Detroit home values, is now taking a toll on the once-bustling vacation home market across Michigan's rural north and Thumb. Some families are canceling vacations, while others are "
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