48108

...now browsing by tag

 
 

Ann Arbor Real Estate Statistics | January 2009

Friday, February 20th, 2009
The first month of 2009 is behind us. Is it an indicator of things to come, or is it simply in line with how January’s have been in the past?

Typically, there are fewer sales in January, and therefore the averages are thrown off a bit.  This year, the silver linings for January are the decreased number of listings coming on the market and the fact that there were more closings in January 2009 than January 2008.

Overall, the Washtenaw County housing market has further to decline in price, if it is to return to an even market. As Econ 101 taught us, when demand is steady, and inventory high, the only way to burn off the inventory is to lower prices

Or offer a tax credit for purchasers…

In an attempt to “juice” the housing market along, the Feds have apparently settled on a tax credit for first time primary residence purchasers. Effectively, this lowers the cost of purchasing that first home for many folks. This could help in moving properties in the first time home buyer price points.

Average List Price – Month 2008


Ann Arbor Real Estate | Average List Price January 2009
 Average list price for January was $184,414, down over 21% from January 2008.

Average Sales Price – Month 2008


Ann Arbor Real Estate | Average Sales Price January 2009
 The average sales price in Washtenaw County was $157,810 in January.  This is down nearly 25.5% compared to January 2008.

Number of Listings v Closings – Month 2008


Ann Arbor Real Estate | Listings & Sales
 # of New Listings: January saw 393 listings come on the market. That is a nearly 66.5% decrease in the number of new listings compared to January 2008. Keep in mind that the listings tracked here have not been scrubbed for re-lists or price adjustment re-listings.

# of Closings: 192 closings in January 2008, nearly 8% more than January 2008.


Team366 | Ann Arbor Real Estate | Real Estate One

[48108]



Technorati Tags: 48108, Ann Arbor, Chelsea, condos, Dexter, Homes, properties, real estate, Team366

Posted in Ann Arbor, Buyers, Sellers, Team366, market reports | No Responses »
Tags: , , , , , , , ,

Can I Buy Real Estate With Sunshine?

Wednesday, February 4th, 2009

sun-and-snow-ann-arbor-real-estate

While taking a winter break here in sunny Florida I’ve wanted to read and watch what is happening real estate wise in this market. As a Michigan Realtor (Real Estate One, Team366) I wanted to see where  this market stood compared to the Ann Arbor, Washtenaw County market.  What I’ve learned is that the market is so saturated with a bloated residential/condo market that it will be years before it recovers, although the article in today’s local paper is encouraging.

The premise of the article is that real estate continues to struggle as home prices continue to drop most everywhere, but the reality is that housing is becoming affordable again for the average person.  Albeit mostly through foreclosures and short sales.  As a result, inventories have begun to drop.

So what does this have to do with my home market?

Simply put, the Ann Arbor area has seen this resurgance in the last quarter of 2008 and thus months ahead of this market. And our local real estate market is producing buyers who have been waiting to purchase and feel now is the right time to buy.

So am I enjoying the sunshine…of course, but  the housing market in the Ann Arbor area is much brighter.

[photo source: moertl]

Technorati Tags: 48108, Ann Arbor Real Estate, Ann Arbor Real Estate Agent

Posted in Ann Arbor, Team366 | No Responses »
Tags: , ,

Ann Arbor Residents “Take the Reins”

Monday, December 15th, 2008

This past weekend, Eric took part in a conference called Upturn: Hope and Help for Those in Economic Crisis.  The conference was held at the Huron Hills Church and included business leaders from the area.  The focus of the conference was to “bring experts together to give practical advice about coping with today’s economy and its fallout,” says associate Pastor Dave Collins.

From the Ann Arbor News’ coverage of the event:

Eric Pointer of Real Estate One said that when 95 percent of the workforce is employed, that’s considered full employment. “Now it’s about 93 percent. But that means that 9.3 out of 10 people are still working,” noted Pointer, who said he had sold 78 homes in 2008.

From the conference, one thing that was repeated on the panel discussion was that to keep your head in the game, you should avoid watching or consuming too much news.  Turn off the tv and focus on the great things in your life.

Oh, and don’t forget to smile!

Technorati Tags: 48108, Ann Arbor, Eric Pointer, state of mind, Team366

Posted in Ann Arbor, Buyers, Sellers, Team366 | No Responses »
Tags: , , , ,

Black Friday!

Monday, November 24th, 2008

blackfriday v1 Black Friday!

Stores open at 4AM for the Christmas early shoppers! Maybe they should just stay open from the night before! Would you shop for a new home at that time of morning…of course not! But the fact of the matter is there are so many GREAT real estate bargains out there…..that the savings you would realize would make any “Black Friday Sale” look pale by comparison.

In thirty-six years of conducting business in the Ann Arbor area, I’ve never seen bargains like this in real estate. How about your dream home under that Christmas tree? Now wouldn’t that make one heck of a “Black Friday” bargain?

Check out the value of these Ann Arbor Homes for Sale (downloadable .pdf).

Want to check out the values available in Ann Arbor?  Search all available Ann Arbor Homes for Sale.

Image Source

Technorati Tags: 48108, Ann Arbor Homes for Sale, Ann Arbor properties, Ann Arbor Real Estate Agent, Team366

Posted in Ann Arbor, Buyers, Team366 | No Responses »
Tags: , , , ,

8 Reasons to Sell Your Ann Arbor Home During the Holidays

Friday, November 21st, 2008

holidays v11 8 Reasons to Sell Your Ann Arbor Home During the Holidays

[This is a repost from November 22nd, 2006.  The reasons are still valid for selling a home or condo during the winter months.]

Wow!  You’d think, from anecdotal evidence, that no one sells or buys a home during the holidays.  Obviously, that’s not the case; the housing market statistics show that homes do close during the months of December and January.  There is a definite decrease in the number of homes that sell during the holidays.  Just check out the statistics here.

For those folks thinking of selling their home and waiting for spring, here are eight good reasons to list your home for sale during the holidays:

  1. Less Competition
  2. Serious Buyers Shop During the Holidays
  3. The Best Agents Continue to Work During the Holidays
  4. Relocation Buyers Move This Time of Year
  5. If it Does Not Sell During the Holidays, You are Ahead of the Others
  6. Not Lost in The Spring Shuffle
  7. Your Home Looks Great This Time of Year
  8. Buyers are More Sensitive to Scheduling Appointments

For those folks from warmer climes, the Michigan real estate market does slow down in the winter time.  A lot of it, I am sure, is due to the holidays.  But the weather simply makes it difficult to get around at times.  So showings become more…interesting.

11/23/06 Update: My friends over at MIOAKLANDCOUNTY have a similar post on questions they field from clients about having homes listed over the holidays.  The money quotes:

….if your home is not on the market, they can’t buy it. Home buyers this time of year are serious.

This time of the year is a great time to have your home on the market. Just remember the basics. Have it well priced. Make sure it is in good condition. Know that you have a strong marketing plan in place to get the word out. And do what you can to make it accessible to potential buyers. With these things in place, you are more likely to have a quick sale, and you are not competing with all of the homes that will be on the market in the spring.

[Image Source]

Technorati Tags: 48108, Ann Arbor Homes for Sale, Ann Arbor Real Estate, Ann Arbor Real Estate Agent, Team366

Posted in Ann Arbor, Sellers | No Responses »
Tags: , , , ,

« Older Entries