Posts Tagged ‘Homes for Sale’
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Thursday, February 24th, 2011
Ann Arbor Realty relies on data to inform future buyers and sellers. We strive to provide accurate information to help you make informed decisions about future housing plans .
 Ann Arbor, Michigan is a city in southeastern Michigan with a population of slightly more that 100,000. It is home to the University of Michigan as well as numerous hi-tech businesses. The recession that gripped much of the state of Michigan and most of the country has been softened in Ann Arbor by the entrepreneurial spirit created by the University of Michigan through the spin-off of businesses it has created in new and emerging fields. Consequently, Ann Arbor housing appears to be stabilizing and appreciating faster that the rest of the state.
According to the Ann Arbor Area Board of Realtors, the total real estate sales for January 2011 are up 15.7% over January of last year. Single family homes have increased 8.5% year to year and condominium sales posted a strong increase of 26.6% when compared with last years figures. Strong activity in the month of December as well as the past six months indicates a possible return for the Ann Arbor realty. While it is still prudent to be cautious about an exuberant return, individuals should be prepared to see Ann Arbor area real estate values increase.
Ann Arbor Realty – Facts that Tell a Story
- Ann Arbor houses January, ’11 sold units increased 14 units from January ’10.
- homes spent an average of 8 days less on the market before being sold in January 2011.
- the median sales price for a residential home increased from $124,250 to $130,000.
- there were 127 Ann Arbor houses newly listed for sale in the month of January 2011.
Many neighboring communities in this marketplace are selling as well. For example, Ypsilanti homes are selling extremely well with 12 home sales in January. Homes were on the market for 104 days on average last year. However, homes in Ypsilanti that sold were on the market for an average of just 73 days. Ann Arbor area real estate is increasing in the surrounding area including Chelsea and Dexter.
Ann Arbor Houses – More Housing Data
The latest statistics for Ann Arbor area houses and real estate trends from the Ann Arbor Area Board of Realtors state that as of February 10th 2011 the average listing price for a home was $177,683. This is a increase of $2,003 when compared to the same period last year. Some of the most popular neighborhoods in the Ann Arbor area are Burns Park , the Old West Side and the neighborhoods adjacent to the University of Michigan’s North Campus.
The local Area Board of Realtors believes that real estate market is becoming more active. While prices may not have recovered their record values as of yet, they are starting to reflect the real conditions of the market in Ann Arbor housing.
You can search Ann Arbor houses here or contact Prudential Snyder & Company, Realtors, a local Ann Arbor realty company to get more data or learn about housing opportunities. Choose Prudential Snyder and Company for the best Ann Arbor Realtors!
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Tags: Ann Arbor, Ann Arbor House, Ann Arbor Houses, ann arbor real, Ann Arbor Realty, buyer, buyers, Chelsea, family, Home, Homes for Sale, MI, michigan, Real Estate, Realtor, Realtors, Saline, Search, Sellers, single family homes, Ypsilanti
Posted in Ann Arbor Homes, Ann Arbor Realty, Ypsilanti Homes |
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Wednesday, September 29th, 2010
Homes that need repair or other improvement often represent a great opportunity to buy a home in a desirable location for less than its market value.
Ann Arbor area home investors and other real estate professionals often have enough cash to buy the property at the reduced price and pay for the repairs. Once the repairs are made, the investors put it back on the market and generally sell for a profit.
How does a buyer, who doesn’t have cash and plans to live in the home, finance the purchase and pay for the repairs? Some lending institutions participate in “renovation financing” which is available through the Federal Housing Administration (FHA).
Commonly known in the real estate industry as a FHA 203(k) loan, it allows a buyer to finance the purchase price and the cost of the repairs and improvements.
The lender will assign a renovation loan specialist to assist the buyer with the process. The loan amount is determined by using the after-improved value of the home and can be for as much as 110% of the after-improved value up to the FHA loan limits that apply in that geographic area..
Once a purchase agreement has been accepted by both buyer and seller, the buyer must select a contractor and submit the contractor’s bid and the work to be done to the renovation loan specialist.
After the scope of work is agreed to by the buyer, the contractor, the loan specialist and the lender, the approved scope of work is sent to an appraiser who goes to the property and establishes the home’s after-improved value.
If the appraisal supports the purchase price and the cost of the repairs and all the other standard loan qualification steps have been successfully completed, the loan is approved.
The renovation must begin within 30 days of closing and must be completed within the agreed upon time frame which is generally 6 months or less.
Renovation financing is also available for those who wish to refinance and improve their homes.
So, don’t shy away from those homes that need some help. They may turn out to be just what a buyer is looking for.
As always, we here at Prudential Snyder & Company Realtors are here to assist you with any of your Ann Arbor Area home buying, home selling, rental or other Ann Arbor real estate needs.
Call us at 734-747-7500 or 734-747-7700 weekdays, or 734-660-0105 evenings and weekends. We’re also available via email at info@prusnyder.com or online at www.prusnyder.com anytime. Choose Prudential Snyder and Company for the best Ann Arbor Realtors!
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Tags: Ann Arbor Area Home, Ann Arbor Homes, Ann Arbor House, buyer, fha 203, Foreclosures, home buying, home selling, Homes for Sale, loan specialist, renovation loan, rental
Posted in Ann Arbor Real Estate |
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Wednesday, September 22nd, 2010
Last week we wrote about housing prices in the greater Ann Arbor market showing signs of stabilizing and we urged our readers to be confident about buying a home during the fall season before prices started to rise.
But what do we know about consumer confidence in the rest of the country?
Between June 12 and July 14, 2010 Fannie Mae conducted 3,399 telephone interviews with Americans 18 years and older. The purpose was to assess their confidence in homeownership as an investment, the current state of their household finances, the housing finance system and overall confidence in the economy. The survey included 870 homeowners, 1020 mortgage borrowers, 900 renters and 289 underwater borrowers, who are defined as owing at least 5% more on their mortgage than their house is worth.
Here’s what they had to say:
78% of the respondents believe that home prices will remain flat or go up over the next year.
39% believe residential rental rates will go up over the next 12 months.
Consumers continue to believe it is a buyer’s market. 70% said this is a good time to buy a house. Underscoring the belief that it is a buyer’s market, 83% of those surveyed believe it is a bad time to try to sell.
69% of renters believe it makes more sense to buy a home rather than rent.
Our experience in the greater Ann Arbor real estate market reflects the trends seen nationally. People across the country know this is a good time to buy. There’s an ample supply of homes for sale and interest rates are tantalizingly low. Like the rest of the country, be confident and buy the home you have always wanted.
As always, we here at Prudential Snyder & Company Realtors are here to assist you with any of your Ann Arbor Area home buying, home selling, rental or other Ann Arbor real estate needs.
Call us at 734-747-7500 or 734-747-7700 weekdays, or 734-660-0105 evenings and weekends. We’re also available via email at info@prusnyder.com or online at www.prusnyder.com anytime. Choose Prudential Snyder and Company for the best Ann Arbor Realtors!
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Tags: Ann Arbor, Ann Arbor Home Search, Ann Arbor Homes, Ann Arbor House, buy a home, Fannie Mae, HOME SALES, home selling, homeowner, Homes for Sale, Sell My Home
Posted in Ann Arbor Real Estate |
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Tuesday, August 10th, 2010
In the last two blogs, we’ve covered the real basics of a home search – type and style. Let’s take a look at a typical MLS (multiple listing service) sheet and define a few more of the items you’ll see.
 Generally, you’ll see the nuts and bolts information about a particular home for sale in the top inch or two of the layout – depending on which website you’re on, it may be to the side of the property photo or directly below it. This will give you the number of bedrooms, bathrooms, acreage if any, year built, size of home, and current listing status. There are several items to be aware of:
Square footage: the number you see on the should not include any lower level finished area unless it is a walkout basement or has full egress windows. Sometimes Realtors will note that there is an additional number of square feet in the lower level, but our MLS guidelines note that below grade square footage should not be included.
Bedrooms in basements: these aren’t included either – unless it’s a walkout or has egress windows, so read the descriptions to get full information.
Listing status: a home will be marked as “Active”, “Pending” or “CTS”. Active homes are listed and do not have offers. Pending homes have offers in on them and are awaiting closing. CTS indicates that we can “continue to show” meaning that there is an offer submitted on the property but not all contingencies have been removed…we’re seeing lots of these lately because of the volume of short sales on the market awaiting approval from the banks.
Most websites advertising Ann Arbor Homes for Sale will also include information on what school district (and often which specific schools) the home is located in, association fees (if applicable), whether the house has well & septic or public water and sewer, size of the garage, and other general amenities.
The tax information the website should indicate both a tax amount AND a tax year. Taxes get confusing sometimes because those taxes change from year to year, when the home is sold, and also there are homestead exemptions that may or may not be in place. To add to the confusion, some counties pay taxes in arrears and some pay up front, so make sure that you ask your Realtor how the taxes are paid when you find a home of interest.
Next time we’ll take a peek at more of the lingo that’s used in real estate transactions. In the interim, if you have any comments, suggestions, or ideas, please let us know!
As always, we here at Prudential Snyder & Company Realtors are here to assist you with any of your Ann Arbor Area home buying, home selling, rental or other Ann Arbor real estate needs.
Call us at 734-747-7500 or 734-747-7700 weekdays, or 734-660-0105 evenings and weekends. We’re also available via email at info@prusnyder.com or online at www.prusnyder.com anytime. Choose Prudential Snyder and Company for the best Ann Arbor Realtors!
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Tags: Ann Arbor, Ann Arbor Homes, Ann Arbor House, home buying, Home Search, home selling, Homes for Sale, rental
Posted in Ann Arbor Real Estate |
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Tuesday, August 3rd, 2010
We started this series to talk about internet real estate jargon. Last time we took a look at one of the basic search criteria that most folks use and described some of the differences between condos and single family homes.
Today, let’s talk about home styles.  It’s interesting to note that most homes do not fit precisely into any one category. Lots of times, older homes have gone through renovations that took on different architectural details that the current homeowner liked. Newer homes often incorporate samplings from a variety of historical periods and styles. Let’s look at a couple of the styles represented in the Ann Arbor real estate market.
BUNGALOWS: Bungalows are one-and-a-half story homes. Typically most of the living space is on the main floor and the house centers around the living area with minimal hallways to connect to other rooms. In the Greater Ann Arbor Area, we typically find the upstairs used as a bedroom or added living space, and if it has a garage, it will be detached from the structure. Even within the bungalow family there are many distinctive styles, but they’ll all have the centralized living area.
RANCH STYLE: Ranches were a uniquely American style and are single story homes. In the Ann Arbor real estate market, theres a pretty even mix of those that have attached garages and those that don’t. The thought behind the original builds was to have a long, low-to-the-ground profile, with minimal use of exterior architectural decoration - a casual home.
TWO STORY HOMES: The majority of the homes not identified in one of the two categories above falls into this division. There are a plethora of homes styles to choose from – Cape Cod, Victorian, Colonials, Gothic, Greek, and on and on. So how do you know what style you’re looking at or for? There are some great websites available to help you define your tastes. If you Google “architectural styles”, you’ll get fabulous references with photos to scroll through that can help you put a name with a style!
If you’re interested in learning more, just email us, or respond below and we can help you!
As always, we here at Prudential Snyder & Company Realtors are here to assist you with any of your Ann Arbor Area home buying, home selling, rental or other Ann Arbor real estate needs.
Call us at 734-747-7500 or 734-747-7700 weekdays, or 734-660-0105 evenings and weekends. We’re also available via email at info@prusnyder.com or online at www.prusnyder.com anytime. Choose Prudential Snyder and Company for the best Ann Arbor Realtors!
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Tags: Ann Arbor Home Search, Ann Arbor Homes, Ann Arbor House, Ann Arbor MI, home buying, home selling, Homes for Sale, Prudential Snyder & Company
Posted in Ann Arbor Real Estate |
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Tuesday, July 27th, 2010
 Photo: Nick Bastian We’ve talked a lot about Ann Arbor Real Estate, the short sale and foreclosure market, and the changing housing market. The internet gives us a plethora of information on Ann Arbor homes for sale, but often the jargon used by Realtors goes undefined. With that thought in mind, I’m going to run a new series to help home buyers and home sellers decifer the details shared in our marketing pieces and listings.
Let’s start with the basics today: What is a condo?
- If you own a condo, you do not own the land surrounding your living space.
- A condo owner owns only the unit itself, which is taxed as an individual entity, and sometimes a percentage of the common areas of the community.
- Condo communities may provide such shared facilities as a pool, gym, tennis courts and clubhouse, all maintained by the condo association, which takes care of all day-to-day management tasks. This is one of the key advantages of condo living — all of the joy of using the amenities, none of the hassles of maintaining them.
- Condominium owners pay a monthly fee to the condo association, which also sets the rules for the community.
There are well over 100 condo communities in Ann Arbor alone. Each development is centered around the unique needs of its owners and has a distinctive set of accommodations and special features that make it exceptional.
If you’re interested in learning more or have any comments or suggestions, please let us know. In the next blog, we’ll take a look at the different types of single family homes available in the Greater Ann Arbor Area.
As always, we here at Prudential Snyder & Company Realtors are here to assist you with any of your Ann Arbor Area home buying, home selling, rental or other Ann Arbor real estate needs.
Call us at 734-747-7500 or 734-747-7700 weekdays, or 734-660-0105 evenings and weekends. We’re also available via email at info@prusnyder.com or online at www.prusnyder.com anytime. Choose Prudential Snyder and Company for the best Ann Arbor Realtors!
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Tags: Ann Arbor, Ann Arbor Homes, Ann Arbor House, Condo Communities, Foreclosures, Greater Ann Arbor, home buyers, Home Search, home sellers, home selling, Homes for Sale, Prudential Snyder, Realtors, rental, Short Sale
Posted in Ann Arbor Real Estate |
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Thursday, July 1st, 2010
 Photo: Seansie Per CNNMoney.com article - By Tami Luhby, senior writerJune 30, 2010: 10:40 PM ET
NEW YORK (CNNMoney.com) — First-time homebuyers will have until Sept. 30 to close on their purchases and land an $8,000 tax credit under a bill passed by the Senate late Wednesday.
President Obama is expected to sign the bill, which was overwhelmingly approved by the House on Tuesday. The deadline had been June 30.
The bill doesn’t help anyone currently shopping for a home. Buyers must have signed a contract by April 30 to qualify for the tax break. At issue is when the deal must be finalized.
Qualified existing homeowners also have until Sept. 30 to close on new homes and receive a tax credit of up to $6,500.
Congress has been trying to pass the extension for the last month, but it got caught up in Washington politics. Only when it was separated from a larger jobs bill did deficit-wary lawmakers sign off on it. The extension will only raise the deficit by $9 million.
An estimated 200,000 people have missed out on the tax credit because they wouldn’t have been able to close by the end of business Wednesday. Many are trying to take advantage of short sales, which are complicated deals to complete.
The Senate approved the stand-alone homebuyers tax credit shortly after a failed attempt to advance a bill that combined the credit with an unemployment benefits extension.
Senate Majority Leader Harry Reid, D-Nev., said the chamber will take up the benefits bill again once a replacement for the late Senator Robert Byrd, D-W.Va., is named. Byrd, the longest serving member of Congress in history, died Monday at age 92. 
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Tags: Ann Arbor, Ann Arbor Home Search, Ann Arbor Homes, Ann Arbor House, Ann Arbor MI, Ann Arbor Properties, home buying, home selling, Homebuyer Tax Credit, homebuyer tax credit extension, Homes for Sale, Sell My Home, Tax Credit
Posted in Ann Arbor Real Estate |
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Thursday, March 18th, 2010
 As both the weather and the market continue to heat up, we’re finding that here in the Greater Ann Arbor Area, more and more first-time home buyers are beginning their home searches. Although the internet is a great place to do research on area properties, it is always a good idea to solicit the advice of a Real Estate Professional. The folks at Real Estate Checklists and Systems (www.realestatechecklists.com) put together the following list of common mistakes… we are here to help you avoid making them!
1. They don’t ask enough questions of their lender and end up missing out on the best deal.
2. They don’t act quickly enough to make a decision and someone else buys the house.
3. They don’t find the right agent who’s willing to help them through the homebuying process.
4. They don’t do enough to make their offer look appealing to a seller.
5. They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.
We offer FREE no obligation HomeBuyer Seminars and workshops to help you learn about the purchasing process. If you’re interested in learning more, please contact us. Prudential Snyder & Company Realtors are here to assist you with any of your Ann Arbor Area real estate needs. Call us at 734-747-7500 or 734-747-7700 weekdays, or 734-660-0105 evenings and weekends.
Our website offers a plethora of information on Buying, Selling, Area Open Houses, and more. Visit us at www.prusnyder.com or email info@prusnyder.com for more details. Choose Prudential Snyder and Company for the best Ann Arbor Realtors!
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Tags: Ann Arbor, Ann Arbor Home Search, Ann Arbor Homes, Ann Arbor House, Ann Arbor MI, Ann Arbor Properties, First Time Home Buyers, Homes for Sale, Open Houses, Realtors, Search Ann Arbor Homes
Posted in Ann Arbor Real Estate |
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Thursday, February 11th, 2010
Today’s turmoil in the housing market has made it more appealing than ever for many renters to consider purchasing their first home.
Whatever your situation, the housing market is ripe for first time home buyers. The Federal HomeBuyer Credit is available for homes put under contract by April 30th, 2010 and closed by June 30, 2010.
Interest rates remain low. The market is full of homes that are aggressively priced. If your children approach you for assistance, perhaps it is a valid consideration. Take some time and determine the housing goals, what are the various financing possibilities and the possible tax implications of any assistance you may give your children. Make a non-emotional decision, if possible.
As always, we are here to assist you during the whole house-hunting process and all of your real estate needs. Call us at 734-747-7500 or 734-747-7700 weekdays, or 734-660-0105 evenings and weekends. We’re also available via email at info@prusnyder.com or online at www.prusnyder.com anytime.
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Tags: Add new tag, Ann Arbor, Ann Arbor Art Fair, Ann Arbor Home Search, Ann Arbor Homes, Ann Arbor House, Ann Arbor Properties, cash gifts, cosigning on loans, down payments, First Time Home Buyers, Homes for Sale, interest rates, investing in a home, lending kids money, Search Ann Arbor Homes, Tax Credit
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Friday, January 22nd, 2010
Ann Arbor Real Estate Activity: Old West Side Ann Arbor 2010
With all of the negative news that we’re hearing today about the real estate market in the country, we’re happy to say that listing inventories are relatively low right now and regardless of your price-point, the housing market in the Greater Washtenaw County Area continues to move along.
In an effort to keep you up to date on the market in Old West Side Ann Arbor, we’re going to begin posting the recent closings. The most recent will be posted below. Since October 1, 2009, there have been 29 sales and there are currently 55 active listings for sale in Eberwhite & Bach Schools areas. If you’re interested in further information, we invite you to call or visit our website.
As always, Prudential Snyder & Company Realtors are here to assist you with any of your real estate needs. Call us at 734-747-7500 or 734-747-7700 weekdays, or 734-660-0105 evenings and weekends. We’re also available via email at info@prusnyder.com or online at www.prusnyder.com anytime. Choose Prudential Snyder and Company for the best Ann Arbor Realtors!
 1174 Kay Parkway
List Price: $ 139,900
Sold Price: $124,999 after concessions
Close date: 1/7/10
112 E Davis Ave
List Price: $140,000
Sold Price: $128,000
Close date: 1/13/10
501 W Keech
List Price: $169,900
Sold Price: $170,132 after concessions
Close date: 1/6/10
 1010 W Washington
List Price: $498,000
Sold Price: $495,000
Close date: 1/11/10
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Tags: Ann Arbor, Ann Arbor Home Search, Ann Arbor Homes, Ann Arbor House, Ann Arbor MI, Ann Arbor Properties, Bach, Eberwhite, Historic Old West Side, Homes for Sale, Prudential Real Estate, Prudential Snyder & Company
Posted in Ann Arbor Real Estate |
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