Ann Arbor Real Estate Blog

The Importance of Washtenaw County Neighborhood Property Location

Martin Bouma (Keller Williams Realty) — Thu, 05 Feb 2009 18:17:00 -0600

Ann Arbor Neighborhood Location Factors - Part II

Continuing from the Ann Arbor blog post, Location, Location, Location, the real estate professionals at The Bouma Group are revealing more Ann Arbor neighborhood location factors to help you in the buying and selling process in Ann Arbor, Michigan. There are property values that will rebound the quickest in Washtenaw County based on certain Ann Arbor neighborhood location factors. Check out the second half of the factor list at the Bouma Group's Ann Arbor real estate blog and be one step ahead of the game in the Ann Arbor real estate market.

Learn how surrounding retail space affects the rebounding of Ann Arbor home values.
Discover why new employment prospects and job recovery opportunities affect the improvement of home and property values in Ann Arbor and Washtenaw County.
Discover what governmental factors, such as zoning laws and rent control, influence real estate values in Ann Arbor neighborhoods.
What physical and environmental factors impact the value of Washtenaw County neighborhood homes?

The Bouma Group's informative blog will supply all the latest information about recovering market trends and what Washtenaw County and Ann Arbor neighborhoods will rebound the quickest based on these certain factors. The real estate professionals at The Bouma Group can help you find or sell real estate in Ann Arbor based on these important location factors. The Bouma Group is always looking for your feedback and opinions in order to help them provide better and more resourceful information for you in your search for real estate in Ann Arbor.

Location, Location, Location

Martin Bouma (Keller Williams Realty) — Tue, 03 Feb 2009 17:53:06 -0600

With the slump in the economy and housing market, every competitive edge helps, including the importance of your Ann Arbor neighborhood location. If you are using the Ann Arbor MLS search to find a Washtenaw County or Ann Arbor property, there are some specifics you are usually looking for. Those factors are explained for you by the Ann Arbor realtors at The Bouma Group.

What are Buyers Looking For?

If you are a buyer, you are typically looking at certain factors in relation to an Ann Arbor neighborhood's location. The same goes if you are the seller because you want to have as many of those factors that buyers are looking for so you can sell your Ann Arbor real estate in a timely manner and for the most money possible.

Most important is the Ann Arbor neighborhood's location - where is it?
The Ann Arbor property's location in relation to public transportation - how easy to access it?
The proximity of Ann Arbor or Washtenaw County schools to the Ann Arbor property you are buying or selling.

If you are planning to relocate to Washtenaw County, MI, please request your complimentary Ann Arbor relocation package to make yourself more familiar with the area. The package is customize to your specific needs, and includes an abundance of Ann Arbor area information, public and private school data and real estate information hand-selected based on your criteria. Additional relocation tools to help you in your Ann Arbor fact-finding research include Washtenaw County featured properties, search the Ann Arbor MLS property search, learn about Ann Arbor neighborhoods and find local information on Ann Arbor real estate news at our blog.

Video Coming to the Ann Arbor Real Estate Scene

Martin Bouma (Keller Williams Realty) — Fri, 30 Jan 2009 14:11:20 -0600

The Flip Mino video camera has recently been added to the arsenal of Ann Arbor real estate resources. Martin Bouma and his team of Ann Arbor real estate professionals constantly search for new ways to help clients search the Ann Arbor area to find the perfect home. The new Flip Mino video capability on www.Bouma.com will help you become familiar with our Ann Arbor condo buildings, our neighborhoods and the subdivisions of Ann Arbor, Chelsea, Ypsilanti, Saline, Milan, Dexter and greater Washtenaw County. For a full explanation of this new video resource, go to www.bouma.com/blog.

Who IS Buying Ann Arbor Homes?

Martin Bouma (Keller Williams Realty) — Thu, 13 Nov 2008 16:25:40 -0600

Everyone keeps asking me, 'Martin - who's buying homes in Ann Arbor right now?'. After getting asked this a couple of times, especially since the beginning of the current financial crisis, I decided to look into this further.

I went back two months to analyze where our buyers came from. The Bouma Group sold homes to 18 buyers in September and October of 2008. The results are interesting, and much different from the perceptions that I had.

First Time Buyers 8 Sales 44%

Relocation Buyers 3 Sales 17%

Move up Buyers 2 Sales 11%

Second-Home Buyers 2 Sales 11%

Rentals 2 Sales 11%

Investment Buyers 1 Sale 6.5%

The most interesting statistic is the number of first time home buyers. Despite the fact that most 100% loan programs and seller down payment assistant loans are now gone, almost half of the buyers are first time buyers. That's a very good sign as it tells me that first time home buyers, who are generally younger buyers, are confident that a home purchase is still a sound economic decision. The second-home buyer is also a good trend. Many of these buyers are people that graduated from the University of Michigan, and as they approach retirement years, want a residence in Ann Arbor because of all the amenities Ann Arbor has to offer, like excellent restaurants, theater, sports events, world class medical facilities, and a 25 minute drive from Detroit Metropolitan Airport - a world class international airport. Many of them are also cash buyers.

Great deals are to be found everywhere! If you are working with an Ann Arbor Realtor who has expert knowledge of the local real estate market and is a strong negotiator, you can certainily take advantage of today's challenging real estate market. Contrary to what many are thinking, there are lots of buyers taking advantage of the current market to purchase a Washtenaw County home. Homes that are priced well, show well, and have a good location are the ones that are selling.

To stay updated on the current Washtenaw County real estate market conditions, be sure to check my website regularily.

Until next time-

Martin

Are You Mixxed Up?

Martin Bouma (Keller Williams Realty) — Fri, 24 Oct 2008 14:20:22 -0500

We have all heard of Digg, delicious and many other social bookmarking websites but another lesser known site I discovered recently is called Mixx.com. Like its sister sites, Mixx allows visitors to create profiles and designate or bookmark your "favorite" blogs. Offering users similar attributes to a "StumbleUpon", one can also rate your favorite blogs, videos and photos as well.

Taking Mixx for a Test Drive

As a test, I decided to try out Mixx.com and upload my own Ann Arbor real estate blog as a favorite. Other visitors can vote on the link too. It will be interesting to see what additional traffic and Google power this site will provide. If it's anything like StumbleUpon I can tell by the amount of traffic I receive when someone "Stumbles" my blog.

Are You on Mixx?

If so share we the other Rainmakers what results you have realized by creating your profile there.

Until next time,

Martin

P.S. We empower Ann Arbor and greater Washtenaw County home buyers and sellers by educating them to the user-friendly technology tools at their disposal. Visit The Bouma Group Ann Arbor Real Estate Blog to learn more about how we are helping Ann Arbor consumers succeed.

New Features Aid Ann Arbor Real Estate Consumers

Martin Bouma (Keller Williams Realty) — Mon, 29 Sep 2008 11:30:54 -0500

In an effort to offer even more high-value information on the Washtenaw County real estate market, Bouma.com now offers our website guest more market data. Offering highly organized information about our Ann Arbor and Chelsea real estate markets allows the consumer to gain a better perspective of the Washtenaw County real estate market as a whole.

Unique Information Provided to Ann Arbor Real Estate Consumers compliments of Trulia

Below is an example of the type of information shared with Bouma.com site guests.

More Useful Ann Arbor Real Estate Market Data compliments of Trulia

Another very useful tool provided to both Ann Arbor home buyers and sellers compliments of Trulia is the number of sold homes data for Ann Arbor.

Consult First with a Washtenaw County Real Estate Professional

While real estate data can be helpful, never base your buying and selling decisions solely on this information. It is recommended you contact a local Ann Arbor real estate team for a complete review of the Washtenaw County real estate market.

Until next time,

Martin

Are Real Estate Agents Being Held to a Higher Standard?

Martin Bouma (Keller Williams Realty) — Tue, 09 Sep 2008 13:29:48 -0500

It used to be that a real estate agent needed a real estate website. The next step in the progression was to have multiple websites. Then along came map-based property search tools. Soon after that every agent needed to have a real estate blog. Those innovations were soon followed by the snazzy StreetView functionality powered by Google maps for our neighborhoods (if available in your area). Do you see where this is headed?

RE Licensing Laws Require You To Be "Skillful"

I don't know about your state's RE licensing laws but here in Michigan we are required by state law to be loyal to our clients, obey the laws, be financially prudent with other people's funds and conduct our business in a "skillful" manner. That actually means being on your "A" game with new technologies and how those technologies relate to our real estate market. Are you on keeping a finger on the ever-changing pulse of new technologies as they relate to the mobile computing crowd?

Helping Home Buyers Armed with the iPhone

Much has been said here and at many other real estate related websites about the virtues of the iPhone. While I don't personally own an iPhone, I truly believe it is far and away one of the coolest mobile devices of its kind. Now add to that all the great applications that can be downloaded and you quickly see why millions of these devices have been sold since the new "Souped Up" G3 version hit the market in mid-July.

Just Because I Don't Own One...

Like I said earlier, while I don't own an iPhone that doesn't mean I don't recognize its value and practical use as it relates to our Ann Arbor real estate market. In fact, The Bouma Group ensures every one of our Ann Arbor MLS property listings are visiable to iPhone owners. This is accomplished by uploading our featured Ann Arbor properties to Trulia. That way mobile computing home buyers can search for Ann Arbor homes for sale via the Trulia Property Search application on their iPhones. Of course, many cell phones provide Internet connectivity. The Trulia APP on the iPhone is just another tool for consumers to find their next home.

Ann Arbor Property Search Results in the Palm of Your Hand!

By uploading our Ann Arbor listings to Trulia, our featured properties are “exposed” to a whole new set of potential buyers who search for homes via their iPhones. One of the really cool “APP’s” (short for applications) available to iPhone users is the Trulia property search application. Armed with an iPhone and the Trulia Property Search APP, a consumer has the ability to:

Search all homes for sale in Ann Arbor
Access maps with the Ann Arbor property plot pointed
Get driving directions to and from the property
Save their favorite property searches
Email or call the listing agent immediately
Email the property to a friend or family member

By virtue of uploading all our Ann Arbor listings to Trulia, our featured properties are visible to a wider audience of home buyers many of whom are mobile computing home buyers. This allows us to differentiate The Bouma Group in our market!

What iPhone APP's Work for You?

Be sure to comment and let the rest of us know what iPhone applications you use in your part of the world.

Until next time,

Martin

Ann Arbor Receives National Recognition

Martin Bouma (Keller Williams Realty) — Fri, 01 Aug 2008 09:20:18 -0500

Ann Arbor Ranks As Healthiest Home Town In America

AARP recently ranked the Top Healthiest Cities in America and it was no surprise to find Ann Arbor, MI at the top of their list. Ranked #1 Healthiest City to live and retire in, Ann Arbor continues to shine on a national level as one of the greenest, smartest and healthiest places to live. This national and exposure and distinctive honor should not be taken lightly. AARP Magazine chose cities offering the best opportunities in terms of educational resources, local economy, crime rates, quality of life and many other variables that put Ann Arbor right at the top of their list.

Visit The Bouma Group Blog to learn more about how Ann Arbor ranks on other Top National Lists.

The Ann Arbor Business Review Features The Bouma Group On The Front Page

Martin Bouma (Keller Williams Realty) — Thu, 24 Jul 2008 14:43:29 -0500

The Bouma Group Leads The Local Real Estate Industry

The Ann Arbor Business Review recently featured The Bouma Group on the front page. Martin Bouma has continued to lead the local Ann Arbor Real Estate Industry as the Top Realtor, while many other agents are struggling to overcome a difficult market shift. According to BrokerMetrics, The Business Review reported that Martin Bouma sold 84 units, however The Bouma Group recently closed on it's 100th transaction and even leads in volume per Realtor with just over 23 Million Dollars in sales.

As over 85% of all home buyers begin their searches online, The Bouma Group has perfected it's target marketing techniques through numerous resources, including exclusive websites www.condohotline.com/annarbor and www.subdivisionhotline.com. Home buyers and sellers are hooked on these sites, as they provide access to the local Ann Arbor Multiple Listing Service and also feature a "one-stop shop" experience with site maps, association bylaws and floor plans. With an immediate response to online leads, a member of The Bouma Group responds within 30 seconds. These online inquires receive the same hands-on attention and the same level of service as walk in customers. To learn more about the #1 Realtor in The Ann Arbor Real Estate Market, click: Ann Arbor area Realtors 'working smarter," using technology in soft market.

Are you thinking about taking advantage of the current Ann Arbor Real Estate Market? Through our innovative website you have 24/7 access to the Ann Arbor MLS. To learn more about our services, including our FREE moving truck call (734) 761-3060.

Downtown Ann Arbor Condominiums, Ashley Terrace

Martin Bouma (Keller Williams Realty) — Thu, 17 Jul 2008 09:51:43 -0500

Downtown Ann Arbor High Rise Condominiums

Located in the heart of downtown Ann Arbor, Ashley Terrace Condominiums are architecturally distinctive and offer the very best in metropolitan living. Built by distinguished developer Joseph Freed and Associates, this high rise association offers 99 units including luxury penthouses. Spacious balconies give you a panoramic view of downtown Ann Arbor and Kerrytown.

To learn more about the location of Ashley Terrace, community amenities, and for an up to date market report on these popular downtown Ann Arbor condos, visit The Bouma Group Blog.

To preview more condominium listing and sold information, go to Ann Arbor's Condohotline. You will have access to the Ann Arbor MLS, color photographs, floor plans, site maps, Association Bylaws and much more! Or call The Bouma Group at (734) 761-3060 to meet with one of our excellent Buyers Agents!

The Ann Arbor Street Art Fair

Martin Bouma (Keller Williams Realty) — Tue, 15 Jul 2008 12:58:59 -0500

Ann Arbor's Largest Art Fair!

The Ann Arbor Street Art Fair begins July 16-19th, 2008 drawing over 500,000 visitors to the streets of Downtown Ann Arbor and the central campus of The University of Michigan. This nationally acclaimed street fair was named "Number One Street Fair" in the country in 2004 and remains on a list of Top Ten Fairs by the readers of AmericanStyle. Enjoy a whirlwind of artisan tents, hob nob with locals at the Townie Street Party, experience fantastic visual art workshops and enjoy local musicians and street performers.

To learn more about The Ann Arbor Art Fair and receive tips on finding the best route to the fair, click on The Bouma Group Blog.

To learn more about taking advantage of the local real estate market, please visit our website. Keep in mind there is no fee for working with a Realtor/Buyer's Agent to find a home. Feel free to preview our team and free services, such as our free moving truck at: www.bouma.com Our innovative site provides cutting edge interactive maps, an updated blog, community links and much much more!

Ann Arbor Real Estate Market - Don't Let That House Get Away!

Martin Bouma (Keller Williams Realty) — Fri, 11 Jul 2008 15:51:45 -0500

Homes Are Beginning To Move Quickly

We recently listed 2 homes that received offers within 2 weeks, one of those homes even received multiple offers. As we see that the market is beginning to shift, more and more buyers are benefiting from local real estate conditions and these opportunites may not last as long as some buyers think! In recent weeks we have seen interest rates climb and experts predict a steady increase through next year. Home buyers should take advantage of this window of opportunity! The Bouma Group provides a team of excellent Buyers Agents who provide a high level of service for their clients, to contact our office click here.

Here Today, Gone Tomorrow

Chances are that the same house you are interested in today and deciding to wait on, was previewed by another home buyer yesterday and they are planning to make an offer TODAY. We are seeing it more and more here in Ann Arbor. In order to take advantage of this fantastic market, you must move quickly. Select a Real Estate Professional in advance who is an expert in the Ann Arbor Real Estate Market. This is a strong buyers market, however not all homes are the same. A premium location matched with excellent condition brings a great deal of value to a particular home on the market. The bottom line is this - great houses sell in every single market! To preview the entire Washtenaw County MLS click here.

A Decrease In Inventory Means Less Opportunity

In the first 6 months of 2008, we saw a decrease in residential home listings by 26%, compared to last year. In regard to the overall market in Washtenaw County, that's an exciting trend to follow. While the sellers are thrilled to see a decline in inventory, home buyers are finding even fewer options and far more competition. Single family homes and condominium sales are up from last year, showing a sign that the market may be stabilizing and that the bottom could already be behind us. For more information on current condo listings and sales go to the Ann Arbor Condo Hotline. For more information on current residential listings and sales go to the Ann Arbor Subdivision Hotline.

Waiting For Home Prices To Possible Fall May Cost You

A question that you may be asking yourself next year - "Where was I when interest rates were so low and the inventory brought so much opportunity? What was I thinking when prices hit rock bottom?" Deciding to wait may cost you in the long run. While you wait for home prices to possibly creep down, you will actually lose 11% of your buying power when the interest rate goes up 1%. The time to purchase a home is right now. Have you recently bought your dream home and were competing with another buyer? Did you sell your home and receive multiple offers? We would like to hear more about your experience.

To learn more about the Ann Arbor Real Estate Market please visit www.bouma.com

An Ann Arbor Condo Complex - Oakbrook Condominiums

Martin Bouma (Keller Williams Realty) — Tue, 08 Jul 2008 08:15:13 -0500

Oakbrook condominiums are quietly tucked away in a beautiful park. This community of 54 condos is located on the south side of Ann Arbor and is close to just about everything! Built by Guenther Building in 1991, this development offers both 2 and 3 bedroom townhouses and ranch models. Many of these units have walkout basements and back up to a lovely park. Highly acclaimed schools Ann Arbor schools include Bach Elementary, Forsythe Middle School and Pioneer High School.

For more information on the location, a YouTube video specifically on Oakbrook, community ammenities and market conditions, click here

If you would like to preview current listing and sold information at the Oakbrook Condominiums association, and download association bylaws and floorplans go to: www.condohotline.com

A Luxurious Home Development in Ann Arbor - Walnut Ridge

Martin Bouma (Keller Williams Realty) — Fri, 20 Jun 2008 16:04:51 -0500

As one of Ann Arbor's most desirable subdivisions, Walnut Ridge is a community of estate homes on one acre of lush wooded lots on a stunning 135 acre country setting with 50 acres of designated, open space. Walnut Ridge offers it's residents a premiere Scio Township location just 3 miles from Main Street in downtown Ann Arbor. With convenient access to acclaimed Ann Arbor Schools: Abbot Elementary, Forsythe Middle School, and the brand new Skyline High School; shopping, entertainment and major employment centers.

For more information, visit our blog: http://www.bouma.com/blog/?p=10#more-10

Trends for the 1st Quarter of 2008 in Ann Arbor, Michigan

Martin Bouma (Keller Williams Realty) — Mon, 02 Jun 2008 12:03:14 -0500

With the completion of first quarter of the year, the statistics for Ann Arbor real estate are pointing to several interesting trends. A question on everyone's mind; "What's going on with the Washtenaw County real estate market?" The answer is not as short as the question.

My answer is that real estate values continue to dip in our market, however, there are now signs that homes may not depreciate as much as they did in 2006 and 2007. We see that real estate inventory is coming down and that sales are picking up. Consumers should look forward to a leveling of prices in the near future, especially here in Ann Arbor, Michigan.

Remember that real estate is directly linked to supply and demand, so we need to watch both of these to see what direction the market is headed.

Let's talk about Supply

In the Ann Arbor school district during the 1st quarter, residential listing inventory has decreased by 24% when compared to last year. In the first quarter of 2007, 860 residential homes came to the market, versus 653 in 2008. We are seeing that the inventory is now decreasing. The current listing inventory at the end of March 2008 was 16% below what it was last year.

In the Ann Arbor school district during the 1st quarter, we have seen that the condominium listing inventory has decreased by 32% when compared to last year. In the first quarter of 2007, 627 condominiums were listed, with 7.8% (49) being rentals versus 455. In 2008, with 14% (64) being rentals. At the end of March 2008 the listing inventory was 18% below what it was last year.

Let's talk about Demand

When compared to last year, residential sales in the Ann Arbor school district decreased by 17%. There were 189 residential closings in Ann Arbor during the first quarter, versus 157 in 2008.

In the Ann Arbor school district, condominiums sales decreased by 18.5% when compared to last year. There were 109 closings in the first quarter of 2007 of which 11% (12) were rentals, versus 120 in 2008, with 34% (41) being rentals.

You'll notice that sales went down, keeping both supply and demand into consideration, however the current available inventory decreased by the same amount, which will prevent a build up on inventory. This is an encouraging trend, as new listings to the market have decreased by 24% for residential and 32% for condominiums. If this continues we should begin to see a decrease in inventory, a slow down in depreciation and hopefully stabilization. Yet keep in mind that there are two factors that could put a cloud over these trends, and that is continued job loss and the tightening of mortgage lending. I will continue to watch those trends as we head into the spring,

I am cautiously optimistic that we are near or at the bottom. The mortgage industry should hopefully get on track some time this summer and jobs are predicted to increase in early 2009. This is an excellent time to buy a home, as prices are at their lowest point in years, interest rates are still historically low, and I do believe that we are at or near the bottom of the market.

We track every school district in Washtenaw County in $50,000 increments at The Bouma Group, so should you be interested in the above trends in your price niche, feel free to contact us at 734-761-9666.