In the first half of 2007, home and condo sales in Washtenaw County fell nearly 16 percent compared to the same period in 2006 - the largest midyear sales drop in at least seven years, statistics show.
“The inventory of homes is still very large and getting larger, in my opinion,” said Timm Williams, an [...]

On the heels of an investor-driven boom, luxury-condominium developers are getting ready for the worst: a slowdown in the condo market.
Currently, more than 30 luxury-condo projects have just been finished or are under construction. More than 20 of the projects, mainly in Phoenix and Scottsdale, have units that cost $1 million or more, according to [...]

The general contractor of the stalled Elevation Chandler project has recorded a mechanic’s lien worth $5.8 million, the amount the company is owed from developer Jeff Cline.
That includes $4.3 million in mechanic’s liens already recorded by subcontractors, said Larry Mohr, senior vice president at Weitz. But it adds another $1.5 million to the developer’s growing [...]