So many ways to measure (part 2) Yesterday I wrote about two different parts of the analysis of market conditions and today I will finish my story. There are a number of different ways to measure the market, but what I am doing now (and I do change things up as I learn of new techniques) is taking one years’ worth of data at a time, run on a monthly basis and compare and measure how markets change. The data is run as one year periods because it neutralizes the seasonality that you see happening in this area. It is almost clock-work to see our local market start to slow after Labor Day, and to start to pick up in February or March, depending on the weather. In addition to measuring year to year, I have also eliminated from the data below distress sales and “to-be-built” properties becaus... 02/10/2014

So many ways to measure Markets are rarely identical and what happens as a nation isn’t necessarily what happens in a county, or what happens in an area, or even a submarket. We hear a lot about the improving market conditions that are occurring nationally, but as in all things real estate, the market really is fundamentally local. I live and work in the Ann Arbor market. Not all markets within this area are moving in the same direction, or at the same pace. Even within Ann Arbor there are differences, and the data below represents current information comparing the Ann Arbor school district as a whole to one area within Ann Arbor, area 82, which encompasses a wide market but is the west side of town as well as into the western suburbs and rural area within the Ann Arbor school district.... 02/09/2014

As an Ann Arbor homebuyer, what usually attracts your attention first is the listing price of a home, and what price you can negotiate with the seller to. However, many buyers overlook the closing costs, which are an important piece of the puzzle! As your Ann Arbor real estate agent, I'd like to explain the basics of closing costs to you. To read this blog post in its entirety, please click here.   01/29/2014

Are you feeling unsure whether now is the time for you to buy an Ann Arbor home? Mortgage rates are down, but are predicted to rise this year. Home prices are also predicted to continue rising. Now is a great time to enter the Ann Arbor real estate market if you're ready! To help you decide, there are five questions that you should ask yourself. To view these questions, read my full blog post by clicking here. 01/22/2014

As an Ann Arbor home buyer, did you know that you should go into the home-buying process already pre-approved for a mortgage? This makes you look like a better, more serious candidate in the eyes of home sellers, and it gives you more negotiating power. For everything you need to know about the pre-approval provess, read my entire blog post by clicking here. 01/15/2014

With all the freezing temperatures and snow we've had in Ann Arbor lately, chances are, you've spent a lot of time indoors. While home, why not work on improving your interior? As your Ann Arbor real estate agent, I've come up with simple, effective New Year's resolutions to complete for your home. From purifying your indoor air, to decluttering, there is plenty to keep you busy! Read my full blog post by clicking here. 01/08/2014

Most of us have seen comparisons between appraised values and the valuation models accessible via the web. I hadn’t seen an actual comparison to recent closed sales and these models, so thought it would be an interesting exercise to see how they stack up with properties that closed within the past couple of weeks in my local MLS. The data that follows is a compilation of 21 recent sales in the Ann Arbor school district that closed in mid to late December 2013. These houses were exposed through the local MLS and picked up by a number of different valuation models. Since these houses were exposed on the open market, my thinking was that these models would be fairly accurate, but nothing seems to be further from the truth!  The value estimates are really all over the board as far as too hi... 01/02/2014

The Michigan Association of Realtors reported that home sale prices in October were up 16.87 percent from last October in in Washtenaw County, Michigan! Will you make selling your Ann Arbor home your New Year's Resolution for 2014? It's a great time to sell! Read my full blog post about home sale prices by clicking here. 12/26/2013

One of the market indicators that I do not see discussed very often (if at all) is something I label the “contract-to-listing ratio”. What this is, is simply a measure of how many houses in a given market are under contract at any one time compared to the total number of listings. For example, the “macro” market for me might include the entire Ann Arbor school district. If I pay attention to all listings available at any one time compared to what is under contract, it simply gives me an idea of how active the market is. I have been researching this contract-to-listing ratio since around 1992 to one extent or another, and have found that typically a market that has around 30% of the listings under contract is a fairly active market, and that when it starts to decline to 20% or less it is... 12/24/2013

Fortunately, Ann Arbor has not suffered the severe financial losses in the real estate industry like other Michigan towns, in the form of foreclosures and underwater mortgages. The housing recovery is moving along steadily! There are many predictions for 2014 out there, and as your Ann Arbor real estate agent, I want to help you understand what to expect here in Ann Arbor next year. To read this blog post in its entirety, please click here. 12/18/2013

As your Ann Arbor real estate agent, I want you to know that selling your home during the holidays is an excellent decision! However, because of the snow and cold, it's sometimes hard to get potential homebuyers out to look at your house. Here are 12 tips for getting your Ann Arbor home sold before the holidays. To read these tips and this blog post in its entirety, click here. 12/11/2013

The Washtenaw County Clerk released a new report on the number of Sheriff's Deeds processed in November. Only 23 were recorded, continuing the trend of declining foreclosures in the Ann Arbor area. It has been the lowest total of any month for the last eight years! To learn more about this sign of an ongoing housing recovery, read my blog in its entirety by clicking here. 12/04/2013

Some Ann Arbor homebuyers might assume that once you apply for a mortgage, or you're pre-approved, that means that you can do anything with your credit now. Not true. There are very specific habits that you should avoid before, during and after a mortgage application! To view the list in its entirety, read my full blog post by clicking here. 11/27/2013

New Listings See More   $155,000 Lot 134 DarlingtonAnn Arbor 3 BEDS   1 BATHS   1,011 SQFT   0.21 ACRES     $299,000 Unit 8 Liberty Heights CondominiumsAnn Arbor 2 BEDS   2 BATHS   1,747 SQFT     $324,900 Lot 377 Loch AlpineAnn Arbor 4 BEDS   2 BATHS   2,383 SQFT   0.37 ACRES     $129,900 Lot 164 Westaire TerraceAnn Arbor 3 BEDS   1 BATHS   1,300 SQFT   0.18 ACRES   For the most up to date Ann Arbor Area Real Estate News, look no futher than www.HomeSearchAnnArbor.com 734-669-0337 11/27/2013

Black Friday, the day after Thanksgiving, is known for bringing buyers and sellers together in the stores for great deals. However, did you know this rings true for Ann Arbor real estate too? The holiday season especially brings home sellers and homebuyers together in negotiations and deals. It's a great time to begin the next chapter of your life for both parties involved! To read the perks for buyers and sellers this time of year, read my blog in its entirety by clicking here. 11/20/2013

If you love Thanksgiving dinner with all the trimmings, but you don't have time to cook it, or the space to host your family, or the means to buy all the ingredients, there are restaurants around Ann Arbor that will do the work for you! All you have to do is make a reservation and show up. To see a list of places serving Thanksgiving dinner, read my full blog post by clicking here. 11/13/2013

Ann Arbor, MI has a lot going for it. It is home to the University of Michigan, it is filled with small-town shops around a historic downtown, and it has its high-tech communities. You can find a little bit of everything here! However, what it really comes down to is the top 10 lists that Ann Arbor has been mentioned on.  To view these lists, read this blog post in its entirety by clicking here. 11/06/2013

As an Ann Arbor home seller, you know that a home inspection will arrive once you have an interested buyer. However, if you get the inspection before even putting your house on the market, you will have the advantage! You'll know what needs work in your house ahead of time. You can prepare for price drops or make repairs now. For three specific reasons to get a home seller inspection, read my blog post in its entirety by clicking here. 10/30/2013

As an Ann Arbor home seller, you might not realize how much clutter potential homebuyers are seeing in your home. After you've lived there for so many years, it becomes natural to you. However, as your Ann Arbor real estate agent, I can tell you that cleaning out the clutter is one of the best ways to attract buyers! Where should you begin to declutter? Read my full blog post by clicking here. 10/23/2013

It's that time of year again! Mid-October is when we really start seeing the Halloween decorations spring up around Ann Arbor, MI. Are you decorating your home for the holiday? Perhaps you are a new homeowner and haven't collected holiday decor yet. As your Ann Arbor real estate agent, I've come up with some ideas for you. To read this blog post in its entirety, click here. 10/16/2013