Ann Arbor Real Estate Market Report Show 4 Months Supply For First Half of 2012

Was your house one of the 723 Sold properties in Ann Arbor, Michigan over the past 6 months? Ann Arbor homes will sell quickly when priced and marketed properly.

There were  238 homes that sold in a price range of $200K – $300K.   This was the largest segment of active listings @ 129 out of the total number of  active listings of 486.  In this price range the average list price was $254,447.  This price range averaged 53 days on market.  The average sales price was $242,634. During this 6 months there was an approximate 3.3 months of inventory available pushing toward a Sellers Market.

The 3.3 months of inventory is determined by knowing the total number of active listings (homes currently for sale) and the total number of homes that sold over a specific period of time.  Take the total number of sold homes that you are comparing, in our case 238 divide by 6 months  = 39.66.  Then take the total number of active listings you are comparing and this is 129 in our $200K – $300K segment and divide by 39.66 and you will get approximately 3.25 rounded to  3.3 as the Absorption Rate or Months of Inventory (before any new properties come on the market).  Place this into a heat index, located along the right hand side of the chart below, shows the absorption rate of every segment  of the inventory.  The color Red indicates a favorable Selling Market and Blue indicates a Buyers Market.    To read the complete  report go to the  ANN ARBOR REAL ESTATE MARKET REPORT FOR THE FIRST HALF OF 2012 published August 6, 2012.

Red Heat Index Shows a Sellers Market
Red on the Heat Index
Indicates a Sellers Market

In the Ann Arbor real estate market , the hottest segment, indicating a Sellers Market, comes from homes priced between $100K – $200K.  This bracket comes in second for number of homes sold.  There were 228 homes sold and the heat index shows an Absorption Rate at 2.9.  If you have a home to sell in this price range do not hesitate to list your property today.  Buyers are  looking  these home at a faster rate than all other segments.

Take a few minutes to review your price range.  Homes in a price range of $0.00 all the way up to $499,999 with  good location, curb appeal and staged for proper showings will sell the quickest.  And this entire range is showing more favorably toward a Seller’s Market as well.

At the bottom of the chart the Median Market pricing shows that the listings priced at approximately $289,900 are on the market for approximately 54 days.  But, when priced at a median price between $247,000 to $239,900 will sell at a median price of  approximately $235,000 with an approximate 33 days on market.

Just click here  to see a larger chart and to read the 4 page Ann Arbor Real Estate Market Report.

Ann Arbor Real Estate Market Report, Monday August 6, 2012
Ann Arbor Real Estate Market Report,
Monday August 6, 2012

Click here to search all Ann Arbor area Michigan homes and condos with pictures and tours – FREE!  We are here to provide data, consultation, videos and other tools to help our clients make informed Ann Arbor Real Estate decisions. 

Kathy Toth and Team  www.KathyToth.com  Keller Williams Realty

The Michigan Union on The U of M Campus in Ann Arbor is Steeped in History

Kathy Toth and Team, Keller Williams Market Center, Ann Arbor, MI  734.426.6669 – The University of Michigan Student Union.

The U of M Historic Michigan Union is Steeped in History.

Take a stroll through the historic Michigan Union Located at 530 S. State Street on Central Campus in Ann Arbor, Michigan.

In 1904 the Michigan Union began with a meeting held at the Waterman Gymnasium with over 1100 students in attendance to form an “all inclusive organization” promoting unity for the men on campus. As the organization grew, the University of Michigan Union founders acquired a new location on S. State Street in Ann Arbor and in 1907 opened the Clubhouse in the remodeled residence of Judge Thomas M. Cooley, a longstanding member of the University of Michigan law faculty.  The organization grew so quickly, and again they needed a larger facility.  Plans were designed to tear down the Cooley house, their present location, and build right there rather than relocate.  In 1916 groundbreaking took place and the new Michigan Union officially opened in 1919.  See before and after photos of the Building and History of the Michigan Union.

Over the years there have been many additions, expansions and rule changes to the organization and to the building which keep the Michigan Union a vibrant location for education, study, entertainment, and camaraderie to this very day.  To read more about the history of The Michigan Union, get a copy of the book “The Michigan Union: 1904-2004 – 100 Years of Student Life.” By Jeffrey M. Rowe.

      

Here are a few interesting facts about the Union.  For instance, did you know that there was a swimming pool and a bowling alley in the Union at one time?  They were located under the present bookstore.  And women – you are now welcome to use the front door and enjoy all that the facility has to offer.  Until 1954, women were not allowed inside the building and not allowed to use the front door. Women could use the North entrance only and must be accompanied by a male member.  Due to social change, women were finally able to have full access and privileges to the facility in 1972.

Over the years the Michigan Union has been honored to have such dignitaries as President John F. Kennedy in 1960 and a visit by the Dalai Lama  as special guests.  When Senator John F. Kennedy made his visit during the last few weeks of the Presidential campaign in 1960, he stood on the steps of the Michigan Union and announced his vision of the Peace Corps.  He talked about foreign service, and volunteering  individual time and talent in underdeveloped countries of the world.   Read the transcript of his speech.

The Michigan Union is a great place to visit, eat, tour or attend any of the special events throughout the year.  Take the opportunity to stop in and walk through this beautiful building and be a part of Michigan history.  The Michigan Union is open for regular Fall/Winter Semester hours Monday – Saturday 9 am – 2 am and Sunday 9 am – 2 am.  Hours change somewhat for Spring/Summer terms. Learn more about the Michigan Union events and meetings.

After you visit the Michigan Union – step outside and visit the Tony Rosenthal initeractive Cube within walking distance to the North of the Student Union.

View Michigan Union in a larger map   
 

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Homestead Tax Relief to Ann Arbor Area Buyers

Ann Arbor Home Buyers can get the homestead rate June 1 and November 1.  Legislation Passed May 1, 2012 that will go a long way to ease the pain when purchasing a Principal Residence here in the state of Michigan.  Michigan residents have what is called a Principle Residence exemption which allows a considerable savings on tax dollars on their property tax bill when homeowners properly establish a Primary Residence Exemption.

The Michigan Legislators; the Michigan Association of REALTORS  (MAR); and other coalitions worked together to move Senate Bill 349, sponsored by Senator Dave Hildenbrand (R-Lowell) into action.   The final vote in the Michigan House of Representatives was 109-1 in support of the legislation providing a more adequate reporting process for all property owners.  Governor Rick Snyder signed the bill into law on May 1, 2012.  To take effect immediately.

MAR put together a brief Q & A on the topic which goes into more detail regarding the new legislation. When buying a foreclosed home that has not been homesteaded, buyers can report the new purchase to the assessor June1 and November 1 rather than wait once a year.  If you are buying a Ann Arbor Area foreclosure, let us know your concerns. 734-669-0337.

Ann Arbor Real Estate: 2175 E. Joy Rd. Ann Arbor, MI, 48105

2175 E. Joy Road

Bedrooms: 3              Bathrooms: 2          Square Feet: 3166

Is it possible to have a hidden retreat with spectacular views on a 10 parcel with an Ann Arbor mailing address? Yes! This all brick quality 2 by 6 constructed contemporary ranch has it all. The master bedroom overlooks the beautifully landscaped yard and wooded lot. In the kitchen special lighting helps create a warm and relaxing atmosphere,and the large center island provides space for meal preparation, dining, and storage. Finally a dining room that won’t sit empty 360 days of the year; it adjoins both the kitchen and great room. All these rooms share electronic controlled window shades. The sunken great room has a Scandinavian energy efficient fireplace and opens to a beautiful solarium with skylights. The solarium opens to a spacious paver brick patio.The basement has a built-in tornado storm shelter plus 1,000 sq. ft. of finish and plenty of storage room. The home is also equipped with two furnaces — one wood burning and propane forced air. Out building is 20×28 with water and 220 volt. A2 is just minutes away. Own your piece of Ann Arbor Real Estate today!

Related Links
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Kathy Toth and Team
www.KathyToth.com

Keller Williams Realty

Questions and Answers to Repaying the Credit for First-Time Homebuyers


Information for Sellers who purchased a home in 2008-2011 and received the First Time Home Buyer Tax Credit.

Below are two links directing you to the IRS web site that provides information regarding repayment requirements for the credit and the form the IRS requires your seller to fill out.

http://www.irs.gov/newsroom/article/0,,id=253009,00.html

http://www.irs.gov/pub/irs-prior/f5405–2011.pdf

 If your home was purchased in 2008, all remaining annual installments become due on the return for the year of sale. The repayment is limited to the amount of gain on the sale, if the home is sold to an unrelated taxpayer. If there is no gain or if there is a loss on the sale, the remaining annual installments may be reduced or even eliminated. If the home is sold to a related person, the total amount of the credit must be repaid. Taxpayers may want to consult a tax professional to determine the tax consequences of a sale.

If your home was purchased in 2009 or later, and your home stops being your main home within 36 months from your date of purchase, you may need to repay all or part of the credit. The repayment of your credit is an increase to tax on your tax return for the year the home stops being your main home.

The highlights above were provided by the Ann Arbor Area Board of REALTORS

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Click here to search all Ann Arbor area Michigan homes and condos with pictures and tours – FREE!

Kathy Toth and Team www.KathyToth.com Ann Arbor Market Center Keller Williams Realty

You May Think Selling Your Ann Arbor Area Home During the Holidays is Nearly Impossible

You may think that selling your Ann Arbor Area home during the holidays is nearly impossible. While, it’s true that many buyers tend to put their home search on hold until after the new year, there are those who are taking advantage of less competition. In fact, selling your Washtenaw home this time of year allows you to highlight the warmth and comfort that your home offers. Buyers can immediately imagine themselves celebrating the holidays in your Ann Arbor Area home, which means putting your best foot forward this time of year is important!

If you currently have your home on the Ann Arbor Area Real Estate market, or have been considering selling your Ann Arbor Area home; you’ll want to know the best way to enhance your home without going overboard. Here are seven tips that can help sell your Ann Arbor Area home this holiday season.

  • Add Holiday Adornments- You don’t want to go overboard, but a simple evergreen wreath, a poinsettia center piece or other small decorations can create a very warm and welcoming atmosphere. Of course it’s best to avoid overly religious flourishes as this can be off-putting to some.
  • Complement Your Décor- You’ll want to make sure that your Christmas decoration palette matches or complements your current décor. If the colors clash or seem to be fighting for attention, this can be very distracting to buyers and can take away from the great features of your home you’re trying to highlight.
  • Highlight the Highlights- Draw attention to a beautiful fireplace mantle with a few tasteful ornaments or enhance an arched doorway with hanging mistletoe.
  • Go Light on the Lights- An abundance of outdoor lights can leave Ann Arbor Area buyers wondering what the front of your home looks like. And, while you may love your giant inflatable lawn ornaments; it may be best to leave those in storage this year. Everyone has different tastes and you don’t want buyers to be met at your home with a sense of “tacky.”
  • Mind the Tree- While a tall Christmas tree can showcase a two story living room, be sure to be careful of the tree’s width. The last thing you want is to have your Ann Arbor Area home appear smaller than it really is. Also, you’ll want to stick with a cohesive theme for your ornaments. The family homemade ornaments can be meaningful to you, but can quickly make your tree look gaudy to outsiders. Keep it simple this year and remember, there’s always next year when you can display those keepsakes in your new home!
  • Give Warmth- Just before a showing, be sure to turn up your thermostat a few degrees to make it extra toasty inside. Ann Arbor Area buyers will be thankful for the change from Massachusetts’ cold winters. Put a fire in the fireplace to add an extra sense of warmth and highlight the cozy atmosphere that this feature of your home can bring.
  • Offer Tasty Treats- While you don’t want to come across as trying to bribe buyers, everyone loves holiday treats and having a plate full of cookies and candy can make the home showing a little sweeter. Hot chocolate and apple cider are always welcome and buyers will feel that you have their best interest in mind.

As Ann Arbor Area Real Estate Experts, we enjoy helping people sell their homes! Our experience and savvy marketing plan has allowed many clients to sell their Ann Arbor Area homes faster than market average, for top dollar, with less hassle.

We hope these tips encourage you that selling your Ann Arbor Area home during the holidays is possible and gives you insight into how to make your home stand out on the Ann Arbor Area Real Estate market.

We are here to get you started selling your Ann Arbor Area home.  Blessings!

 

 

Ann Arbor Real Estate: 13140 10 Mile Road, South Lyon, MI, 48178

13140 10 Mile Road, South Lyon

Bedrooms: 4
Bathrooms: 3.5
Square Feet: 1,980

A SPACIOUS RANCH WITH A FULL WALKOUT FINISHED LOWER LEVEL ON A BEAUTIFUL 5 ACRE PARCEL. YOU WILL ENJOY THE NEWLY FINISHED GOURMET KITCHEN INCLUDING ALL NEW APPLIANCES. THE ENTRY-LEVEL HAS A FAMILY RM THAT INCLUDES A HUGE FREESTANDING FIREPLACE ALONG W/3 BEDROOM & 3 FULL BATHS. THE LL INCLUDES A BEDROOM, FULL BATH, FULL KITCHEN & A WOOD-BURNING FIREPLACE. OTHER NICE FEATURES INCLUDE A 2CAR ATTACHED CAR GARAGE, A HUGE MUD RM ATTACHED TO THE GARAGE, PLUS A LOWER LEVEL GREEN HOUSE. AN ADDITIONAL 10 ACRE PARCEL COULD ALSO BE PURCHASED.

Related Links

See Extra Photos and a Virtual Tour for 13140 10 Mile Road
Please visit our website for a complimentary MLS search

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Kathy Toth and Team
www.KathyToth.com

Ann Arbor Market Center
Keller Williams Realty

Ann Arbor Real Estate: 570 N Maple, Ann Arbor, MI 48103

570 N Maple, Ann Arbor, MI 48103

Bedrooms: 3  Bathrooms: 4   Square Feet: 2,535

CUSTOM BUILT HOME WITH STUDIO WITH SEPARATE ENTRANCE, CHEF’S GRANITE CHERRY KITCHEN WITH COMPLETE SECOND LL KITCHEN, LAUNDRY, AND LIVING QUARTERS, 11 FT. CEILINGS, ELEGANT TILE, COLUMNS, DETAILS ARE IMPECCABLE, MAINTENANCE FREE LANDSCAPED FENCED YARD, AND WALK TO PLUM MARKET AND VETS PARK.

Related Links

See Extra Photos and a Virtual Tour for 570 N. Maple
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Additional ANN ARBOR AREA REAL ESTATE Listingss and real estate in Michigan

Kathy Toth and Team www.KathyToth.com Ann Arbor Market Center Keller Williams Realty

Ann Arbor Real Estate: 205 W Summit, Ann Arbor, MI, 48103

205 W Summit, Ann Arbor

  

Bedrooms: 3      Bathrooms: 2.5       Square Feet: 2274

STEPS FROM MAIN ST AND DOWNTOWN ANN ARBOR LIFESTYLE, SOPHISTICATED ROW HOUSE IS BETTER THAN BRAND NEW. VERSATILE FLOOR PLAN GREETS GUESTS W/HARDWOOD FLRS, 9FT CEILINGS, ANDERSEN WINDOWS, STUNNING CHERRY CABINETRY, WALK IN PANTRY, GRANITE CHEF KITCHEN W/STAINLESS STEEL APPLIANCES. FIREPLACE IN GREAT RM, W/ LOVELY DECK W/ TREETOP VIEWS OF ANN ARBOR CITY SCAPE, ELEVATOR OPTIONAL SPACIOUS LOWER LEVEL COULD BE FINISHED FOR ADDITIONAL BATH/BED, OFFICE OR REC ROOM. ENJOY WALKING TO KERRYTOWN, DOWTOWN, FARMER’S MARKET, U OF M HOSPITALS. PURCHASE YOUR PIECE OF ANN ARBOR REAL ESTATE TODAY!

Related Links

See Extra Photos and a Virtual Tour for 205 W Summit
Please visit our website for a complimentary MLS search

Additional ANN ARBOR AREA REAL ESTATE Listing

Kathy Toth and Team
www.KathyToth.com

Ann Arbor Market Center
Keller Williams Realty

Ann Arbor Real Estate: 618 Louise, Ann Arbor, MI 48103

Hollywood Park Neighborhood Homes For Sale; 618 Louise, Ann Arbor

Bedrooms: 4
Bathrooms: 2
Square Feet: 1842

ANN ARBOR REAL ESTATE: CLASSIC HOLLYWOOD PARK. 2 STORY GLEAMING HARDWOOD FLOORS, NEWER GARAGE ROOF, HOT WATERTANK, KITCHEN COUNTERTOPS, FRESHLY PAINTED THROUGHOUT. MOSTLY LOVED & SLIGHTLY LIVED IN, AVAILABLE IMMEDIATELY. SHOW TO FUSSY BUYERS.

Related Links

See Extra Photos and a Virtual Tour for 618 Louise
Please visit our website for a complimentary MLS search

Additional ANN ARBOR AREA REAL ESTATE Listing

Kathy Toth and Team
www.KathyToth.com

Ann Arbor Market Center
Keller Williams Realty