Ann Arbor is home to a unique real estate market. The University of Michigan and luxury lifestyle some homeowners experience have dramatically characterized the town into a top residential area. The need for housing around the university campus and the desire for historic homes along the downtown area have created an interesting dynamic of listings and buyers. However, there is one growing trend in real estate that Ann Arbor is facing at the moment. Real estate is shifting towards a “seller’s market.”

A seller’s market means there are fewer homes listed while there are more buyers on the market. The advantage this brings to sellers is choice. Buyers are faced with fewer home to choose from, which means they either have to make an excellent bid on the house (to get it) or wait for another time to shop. If they make a low bid, the seller has plenty of other buyers looking at the house already. They can easily wait it out and get a higher offer before deciding.

What Time Is It?

It’s time to sell. Homeowners are always afraid they won’t get what the home is worth (considering the ’06 housing bubble), but over the years the market has rebounded. Buyers are on the hunt and they are willing to pay top dollar for the “dream” home, since they are hard to find in today’s market. That means if you’re selling, you have a strong advantage.

Recently Sold Homes in Ann Arbor

Looking at recently sold homes is a good indicator to the real estate market. They can provide you a snapshot of the potential value of your home and show you how much your neighbors are making. Below are a few recently sold homes in Ann Arbor:

1. 2355 Londonderry Rd, Ann Arbor, MI – 4 bedrooms, 2.5 baths – Sold for: $540,000

2. 1211 W Washington St, Ann Arbor, MI – 2 bedrooms, 2 baths – Sold for: $361,012

3. 1316 W Huron St, Ann Arbor, MI – 3 bedrooms, 3 baths – Sold for: $325,000

Closing the Deal

Deciding to sell can often be a difficult decision, but with the right preparation and real estate agent, you’re sure to do fine. Doing some research ahead of time will save you from crossing hurdles in the future, but to get a good handle on selling, rely on your real estate agent. They know the market best, and they know what homes are selling for. Feel free to send us your questions or concerns through the form below:

Deciding to sell your home can be a difficult choice, especially when you’ve spent years calling it home. You’ve probably invested a lot of money and a lot of heart into your house as well. Having strangers come inside and look around personal spaces can be emotionally challenging. And when they try to make a lower offer than what you think the house is worth, it can be heartbreaking.

However, spring is around the corner. The weather is turning for the better and temperatures are starting to heat up. It’s a great time to start cleaning and committing to those must-do repairs. If you need motivation, think money. Simple do-it-yourself projects like changing out fixtures or adding a fresh coat of paint can add tremendous “sell” value to your home. It not only drives up your home’s value, but it appeals to buyers. A good house is no use if it doesn’t attract offers.

So, here are some simple home projects you can do to increase the value of your house:

1. Create an Inviting Entrance – If you’re selling your house, you have 8 seconds to impress a buyer – and those 8 seconds are usually spent in the front entrance. That’s why this should be your first upgrade. Creating a welcoming entrance and upgrading your foyer is a big impression point. Simple additions like wall decorations and adding a new finish to the floors can really change your front hallway.

2. Change Out Old Fixtures – Taking out old lighting fixtures and switching out faucets can be simple details that secretly persuade buyers to make an offer. They’re so small of a fix that most people don’t completely register them as a huge addition, but the effect is incredibly strong. It’s the details that reinforce the idea that your home is luxurious, and that means money.

3. The Illusion of Space – Not everyone owns a large home. Some have limited space to work with and have a difficult time dealing with it. Children running around and things cluttering up can drastically affect your living experience, but there are easy tricks to turning buyers’ minds. One is increasing the amount of natural light coming into your home. Drawing back curtains and opening up windows can really brighten the area, and change perspective of size. Other things you can do are painting the walls is soft colors, so you don’t subtract from the lighting, and utilize furniture. Chests can serve as great coffee table and remove a lot of clutter.

Selling Your Home in Ann Arbor

If you’re really looking to make more than what your home is worth, then these simple home projects are your answer. They’re easy to do and serve as a great activity during the spring months. Give them a try and see what other homes are going for sale in Ann Arbor (click here). Once you’ve finished upgrading your home and done a little bit of research, you’ll be ready to sell.

If you have any questions or concerns, don’t hesitate to get in touch with us. You can send us your questions in the form below and we’ll get back with you soon!