We are taking a break from marketing Ann Arbor Real Estate. We are here with Keith Lockhart, Conductor of the famous Boston Pops and Neil Diamond.  Pictures below say more than I can.  We are thankful to our troops for allowing us our freedoms.

Michigan is in a very volatile market and I will discuss what is happening in the Ann Arbor real estate market through 4 trend charts and our mls report from The Ann Arbor Area Board of Realtors.
The first chart shows residual inventory has shrunk slightly, new listings are up 2.8 percent and homes under contract are up about 13 percent from last May. We have more sale contracts falling apart so when I hear about National Association of REALTORS® report of increased homes under contract, I shrug it off. Mortgage underwriting guidelines are so stiff I cannot begin to tell you the horror stories I am living through with lenders.

Download the full report, click here.

The next chart shows the Months supply of inventory has ranged from 5.1 to 12 months in the winter. Last May there were 6 months of supply. This indicates a buyers market is still evident. Notice the trend line; the months supply are trending up.

Download the full report, click here.

Inventory units have declined slightly (2 percent) from May 08 to May 09. Units sold are down by 26 percent and under contract are up by 13 percent.

Download the full report, click here.

Finally, the last chart shows Median prices have declined over the last 12 months and the median listed prices have remained stable. Until that gap narrows, we will still be in a buyers market.

Download the full report, click here.

For Washtenaw County, the year to date units sold were 1074 in 08 vs. 1001 in 09 from table insert below. The volume change year over year went from $232,931,457 to $171,143,697. Downward price pressure comes from continued real estate owned bank properties and short sales. The median sales price declined year over year from $187,400 to $135,000. The average sales price went from $216,882 in 08 down to $170,973 in 09.

Interest rates remain in the five percent range for now. The buyer credit is helping spur some first time buyers into the market and it is still a great time to buy.

We’re conducting a social media experiment.  We’re seeking to add 100 users to our Fan Pages in the next several days.  If you are a Facebook user, simply go to the following pages and select Become a Fan.  Once we’re at 100 users we’ll announce the Facebook URL assigned to us.

Kathy Toth and Team Click to Become a Fan

We’ll report back and let everyone know how long it took to reach this goal, and the effects of viral marketing online via Social Networking.  Thanks for participating Facebook users.

4365 Ridge, Pinckney

DON’T MISS THE OPPERTUNITY TO COME HOME TO THIS OUTSTANDING ANN ARBOR REAL ESTATE COLONIAL. SELLERS ARE MOTIVATED AND HAVE PAID ATTENTION TO ALL THE DETAILS INCULDING THE FANTASTIC FINISHED WALK-OUT WITH ELEGANTLY TILED FULL BATH, RECREATION ROOM WITH WET BAR AND 5TH BEDROOM. PRIVATE, WOODED BACK YARD WITH GREAT DECK, PAVER PATIO AND POND FOR YOUR ENJOYMENT. LOVELY MASTER SUITE AND MORE. ACCESS TO IVIS LAKE.

Related Links
See Extra Photos and a Virtual Tour for 4365 Ridge
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3600 Meadow Grove Trail, Ann Arbor

STUNNING 2 STORY IN ANN ARBOR REAL ESTATE GREAT ROOM. REMODELED MASTER BATH, FRESHLY PAINTED, UPDATES -  BLINDS, CARPET, REFRIDGERATOR, GARAGE DOOR & MOTOR, KITCHEN AND POWDER ROOM, GRANITE COUNTERS, CERAMIC KITCHEN FLOOR, STOVE, LIGHTING, LARGE DECK, TO SOAK IN AFTERNOON RAYS & SIP ICED TEA.  PERFECTLY MAINTAINED MOVE IN, LOVELY FINISHED WALKOUT TO PATIO. LOW PITTSFIELD TAXES. CONVIENENT TO MALL, SHOPPING AND EXPRESSWAYS

Related Links
See Extra Photos and a Virtual Tour for 3600 Meadow Grove Trail
Visit our website for an in-depth property detail page
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Please visit our website for a complimentary MLS search

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9100 Schellenberger, Saline Schools

SALINE SCHOOLS! THIS UNIQUE ANN ARBOR REAL ESTATE FARMHOUSE BOASTS MANY UPDATES: WINDOWS, ROOF, GAS, FIREPLACE, WELL, CENTRAL AIR AND FURNACE. SOLID BRICK HOME BUILT IN THE 1800′S. LOADS OF CHARM WITH ORIGINAL HARDWOOD FLOORS. OFFERS 40X60 POLE BARN AND SEVERAL OTHER OUTBUILDINGS. 44.86 ADDITIONAL ACRES NEGOTIABLE FOR PURCHASE WITH PRIVATE LAKE AND 350FT LAKE FRONTAGE. ONE HOMEOWNER IS LICENSED REAL ESTATE AGENT

Related Links
See Extra Photos and a Virtual Tour for 9100 Schellenberger, Saline Schools
Visit our website for an in-depth property detail page
Looking for more Listings in Ann Arbor, Michigan?
Please visit our website for a complimentary MLS search

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218 Wallace, Ypsilanti

CUTE CAPE COD IN ANN ARBOR REAL ESTATE, LESS THAN 5 YEAR YOUNG ROOF. NICE QUIET NEIGHBORHOOD CLOSE TO EXPRESSWAY.

Related Links
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402 Washington, Chelsea

THIS WONDERFUL LIGHT FILLED HOME ON QUIET TREE LINED STREET IN CHELSEA FEATURES NATURAL WOODWORK, HARDWOOD FLOORS (UNDER CARPET), COVE CEILINGS AND ORIGINAL ART DECO LIGHTING. FAMILY ROOM ADDITION ON FULL FINISHED BASEMENT HAS 2X6 WALLS, VAULTED CEILING AND A WOOD BURNING STOVE. 3 SEASON PORCH PERFECT FOR RELAXING & ENTERTAINING, HAS NATURAL GAS GRILL AND WINDOW A/C. RECENT UPDATES INCLUDE DOUBLE HUNG WINDOWS AND VINYL SIDING. HOME HAS 2 FURNACES AND A/C UNITS.

Related Links
See Extra Photos and a Virtual Tour for 402 Washington
Visit our website for an in-depth property detail page
Looking for more Listings in Ann Arbor, Michigan?
Please visit our website for a complimentary MLS search

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HOT OFF THE PRESS!

The US Department of Housing and Urban Development has released a letter today regarding all eligible for the First Time Home buyer Tax Credit of $8,000 as defined in The American Recovery and Reinvestment Act of 2009 (Recovery Act).

The letter goes on to give information on how the credit works and the latest update, per FHA defining its position, allowing it to be used towards the downpayment requirement for a home. This is achieved through several different ways - through a secondary lien on a property for the amount of the credit, this would mean that when the borrower received their credit check they use it to pay off the secondary lien. Another method discussed is the Purchase of a Tax Credit - this means that an entity can purchase the credit (subject to regulated fees and conditions) - this entity could be a local government organization, Federal or State level organization or private company. FHA will carry out strict due diligence on every organization.

This letter is of the greatest importance as statistics show that in 2008, 41% of all home purchases were made by first time homebuyers. In the first quarter of 2009, that number was 53% (according to NAR).

These new guidelines are definitely welcome allowing first time home buyers to take advantage of the credit in the most flexible way. Additionally, this document clears up any uncertainty and creates a structure to deal with the process with checks and balances.

Make sure to read a copy of the letter here.

We will bring you more detail as it is released!

Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs.

www.KathyToth.com
Keller Williams Realty

The summer is almost here. The bright sunshine is pouring in our windows and it somewhat gives us a disappointing feeling. The gardens come out of their deep winter slumber and we are faced with a huge task. Clean the windows, touch up the paintwork and makeover the yard!

Asides from giving great personal satisfaction and pride in your property, making over the yard can be great if you are planning on selling your property. You may think - “Why invest money in a property I am selling?” Well the answer is simple, if you want a quick sale, then you will invest money!

As reported in Realty Times, according to Angie’s List, a Web site where thousands of consumers share their ratings and reviews on local service providers in more than 425 different categories, well-designed landscaping can increase the value of your home by 7 - 14%. That is VALUE of your home, not just its sale-ability.

Image is everything, curb appeal is what cuts it in any market and is often a factor which many over look. Remember, first impressions count and if your plant border is lacking color, it may make your home look drab and lifeless. If however, a buyer is greeted with a luscious display of color and texture, then they will enter your home feeling like they have already moved in! Leading psychologists say that this is one of the key factors in whether a buyer purchases. Some say that within the first 15 seconds of entering a home a prospective buyer has made up their mind.

Back to the yark work - using mulch to “tidy up” your plant beds is a great, cheap and effective way to make your yard look professionally finished and “refreshed”. Also, don’t forget to do that honey-do list around the yard too. That leaking hose or faucet and that outside light that hasn’t worked in years. Even is a buyer does not notice them, their home inspector will.

Follow these tips and you may end up with a yard that you enjoy looking at and using as well as a home worth more money as well as that great sense of pride and satisfaction on what you have accomplished! Heck, you may even decide not to sell!

Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs.

www.KathyToth.com
Keller Williams Realty