Ann Arbor Real Estate Investors Club

The real estate market has dramatically changed in recent months, and all indications are that there will be more changes in the next 90 days. Come to this FREE, No obligation 45 minute Seminar to learn: --Current market conditions in Washtenaw County, Michigan. --Short Sales, Foreclosures, and private party sales. Similarities and KEY differences --Best (and worst) online resources. --Explore current financing programs and options. --Learn how to look at a home like a builder and the 5 Key things home inspectors look for. --Much, much more The Bundesen Team at Real Estate One has been teaching First-Time Home Buyer Seminars since 2006, and we are launching our all new series for 2012. We'll be joined by Tom Bullard of Huron Valley Financial, and Gyll Stanford of Stanford Enterprises Remodeling. We're also offering FREE Chair massages courtesy of Sherry Perkins of Raindrop Therapy. Our Seminars are fast-paced, fact-filled, and give you a look at what goes on 'in the tr...

According to a recently published article in REALTOR Magazine, nationally, foreclosures increased again in January as banks continued to work through a large backlogs of defaulting loans in their books, RealtyTrac reports. The number of foreclosure filings — including default notices, scheduled auctions, and bank repossessions — increased 3 percent from December to January. However, the numbers were significantly down compared to one year earlier, RealtyTrac reports. Last month, one in every 624 households received a foreclosure filing — a drop of 19 percent compared to January 2011. Please click the link for the full article. Foreclosures Pick Up Pace, Banks Work Through Glut

Ann Arbor and Washtenaw County According to the year-end report, recently released by the Ann Arbor Area Board of Realtors, the overall real estate market in Ann Arbor and throughout Washtenaw County, continues to show improvement. This is cause for optimism. While sales in units were pretty much equal in a December 2011 to December 2010 comparison, and slightly down year over year, there are other encouraging indicators. Total sales dollar volume for 2011 was up by 2% over 2010. This is primarily due to incremental price increases on property. Another good indicator is Average Sales Price, which in 2011 was 5% above ASP in 2010. $194,338 vs. $184,217. The main cause for optimism is that these improving sales are not due to any incentive program, like the first time home buyer tax credit. Most experts agree that this growth is due to the continuing historically low interest rates, coupled with an overall growth in buyer confidence. Also, MSN Real Estate and Bert Sperling of S...

Another mixed bag in the Ann Arbor Real Estate market for April 2011, with decreases in unit sales, as compared to April 2010, but an increase in Average Sales price, year to date as compared to the same period in 2010. Here are the latest statistics from the Ann Arbor Board of Realtors: Single Family Home Sales April 2010: 297 Single Family Home Sales April 2011: 261 Decrease -12.2% SFH Sales Y.T.D. 2010: 890 SFH Sales Y.T.D. 2011: 859 Decrease: -3.5% SFH Avg. Sales Price April 2010: $175,989 SFH Avg. Sales Price April 2011: $171,593 Decrease: 2.5% SFH Avg. Sales Price Y.T.D. 2010: $168,357 SFH Avg. Sales Price Y.T.D. 2011: $174,342 Increase: 3.5%

One of our areas economic indicators of the Ann Arbor Real Estate market is an analysis of toal sales volume in dollars. As this graph indicates, our area is on a pretty strong uptrend. In a year to year comparison for the First Quarter, total sales volume is up by 8.5% over 2010, and up by 37.3% over 2009.

After positive trends in unit sales for the first two months of 2011, as compared to the same period in 2010, we've seen a bit of a comparative decline in unit sales for Ann Arbor area homes. In March 2011, there were 279 units sold, compared to 320 units sold in March 2010. Year to date, however, unit sales are almost identical, year over year, with 720 units sold YTD in 2011 vs. 724 unit sales YTD in 2010.