Ann Arbor Real Estate Talk

The Ann Arbor Area Board of Realtors released the market data for February 2011 housing statics.

Existing home sales rose in February 8.8% from February 2010.The price of sold home also increased from 167,049 in 2010 to 176,629. in 2011.

According to Pete Hendershot, a local Ann Arbor appraiser with Affinity Evaluations, “Overall Ann Arbor, Chelsea, Dexter and Saline are stable or very near stable and Manchester is up from this time last year.”

Here is the data for Residential and Condo sales for all the Ann Arbor Area.

Today Inman News reported that Ann Arbor is expected to succeed 2010. You can read the entire data and how it was gathered on the Inman News Real Estate Magazine.

This is fantastic news for our communities. We are really low in inventory in the Ann Arbor Area although I have been contributing to getting the market moving, by listings several new homes and condos the last 2 weeks.

If you are looking homes for sale in the Ann Arbor Market Area, here is a great site to start on with Google Maps, Satellite Images and Multiple Photos.

Once again if you would like to receive details graphs just let me know and I will email them to you. You can sign up on the right side bar, or send me an email Missy at Missy Caulk dot com.

When we search for homes for sale in Ann Arbor and the surrounding area’s, we search the MLS by school area.

Below you will see the new listings for January 2011, the solds in January 2011 and the comparison in 2010.This is the current data for all of Washtenaw County.

Condos Market Date from the Ann Arbor Area Board of Realtors

Ann Arbor Starts The Year With a Price Upswing (annarborundressed.com)

As a avid University of Michigan fan, I have been just as captivated by the search for our new football coach as everyone in Ann Arbor.

Now that we have a new Wolverine Coach, Brady Hoke,  is it time to get back to work.

• I love Brady Hokes passion.
• I love seeing him and his wife and daughter knowing our traditions and raising their hands at Hail to the Victors tonight at the University of Michigan basketball game.
• I love the way David Brandon did the search and fooled the media and bloggers.

Ok enough, GO BLUE!

So in the midst of the all the tension, and obsession with the new search, real estate in Ann Arbor continues on.

Here is the Market Data published today from the Ann Arbor Area Board of Realtors for December 2010.

Search homes for sale in Ann Arbor.

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Real estate sales numbers provided by the Ann Arbor Area Board of REALTORS® show a continued trend of positive gains over last year at this time.

• Year-to-date sales show an increase of 8.3 percent over last year, based on 3,870 transactions, compared to 3,572 real estate transactions in 2009.
• Dollar volume, likewise, shows an increase of 6 percent over2009, with $646 million in sales for 2010, through November, compared to $609 million at this time last year.
• Average residential sales prices for November are up in most communities, with increases ranging from 10 to 28 percent over 2009.
• The average residential sales price for Ann Arbor in November 2010 was $319,384, Dexter was $283,639 and Ypsilanti showed $97,123.

Condo’s Sold in November in the Ann Arbor Area MLS

Homes for sale and condo’s for sale in Ann Arbor Area MLS.

Post from: Ann Arbor Real Estate Talk

Ann Arbor Area Market Reports for November 2010

Negative equity is when you owe more than you can sell your home for in the current market.

Negative equity is why there are people in Ann Arbor selling their home Short, or for less than owed.

According to Core Logic, a real estate data and analytic company 29.4 percent of all homes with mortgages in Ann Arbor area underwater for the 3rd quarter.

Now we could look at that and gasp, or we can look at it and say 70.6% of homeowners are fine.

Michigan has consistently been in the top four states with negative equity. Below is a graph, by Core Logic to give you a visual of quarter by quarter for 2010.

The following chart gives you all the states distribution of negative equity.

So nice graphs, and information, Missy. What do I do about it, if I have negative equity in my home?

If you have lost your job, or experienced another hardship and need to move, then be willing to sell your home Short= for less than owed. If there is not hardship and you don’t need to move then just wait until the market rebounds and sell at that time.

According to Fannie Mae, if you sell short and have not been delinquent on your payments, you can purchase again using FHA in one year. IF you have been delinquent than you wait 3 years to purchase again.

A short sale is a much better option than foreclosure or bankruptcy. Either of those options will not allow you to purchase again for 5-10 years depending on your circumstances.

I wrote a post yesterday on if you are a buyer and wanting to search for short sales and foreclosures in Ann Arbor to fill out the form and one of my team members will set you up for a specific search.

For more information on trends and graphs visit the Core Logic web site.

According to Pete Hendershot, local appraiser and long time Ann Arbor resident, “the Ann Arbor market is stable and in some area’s  appreciating.

Below you will see the total amount of homes sold in each elementary school district and the Price Per Square Foot. (year to date)

Many times we have clients moving into Ann Arbor and they want to know why they can get more house for their money in certain areas. I have chopped the graphs up into 3 so you can take a better look.

Related post on Ann Arbor Square Feet

Search Ann Arbor homes for sale

IF you can’t read it, email me and I will send the complete graph.

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