Here’s the latest Ann Arbor real estate market report for May 2012.  This is an update to my monthly sales report from the beginning of the month.   (Original article written by Vance Shutes).  Let’s take a look at how the market for Ann Arbor homes looks right now:

Ann Arbor real estate market report for May 2012

Each month, I review all of the homes for sale (column 2, “available”) in the Ann Arbor school district within defined price ranges (column 1), and those homes where the sellers have accepted a purchase offer from a buyer (columns 3 & 4 – Percent Pending).  I also review all of the sales in past 30 days in each price range (column 6).  The results for May 2012 are shown in the table below:

The market for Ann Arbor homes continues to be especially strong in the Spring market!  Once again, there’s good news for sellers, mixed news for buyers.

The number of homes actively for sale rose again, slightly, from 299 in April to 300 now.  We were above 500 last summer.  When you’re buying a home, having plenty to choose from is a good thing, so this isn’t necessarily the best news for Ann Arbor home buyers.  When you’re selling a home, less competition is good, so having fewer homes on the market is good for sellers.

The next chart will help to understand the improvement in our outlook for Ann Arbor homes going into the summer market.

This chart shows the overall percent pending (column 4) in the Ann Arbor market, going back to 1996.  A reminder that we’re in a buyer’s market below 20% pending, a seller’s market above 25% pending, and a mixed market between 20-25%.  At our present 42% pending in Ann Arbor, that says that we’re in a STRONG seller’s market right now.  Our winter low for percent pending (24% in January) was higher than our winter low the previous winter, indicating that our real estate market is in even better shape this year than in any of the past five years.

I’ll continue to monitor our market conditions, which I review with home sellers when they are considering whether to market their home.  You can make better decisions when you know the overall condition of our market for Ann Arbor real estate.

If you want to be the first to know about conditions in the market for an Ann Arbor home or condo, please subscribe and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

If you have questions about your specific situation, or if you’re considering buying or selling any Ann Arbor real estate, you owe it to yourself to check out what others have been saying about me.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

Follow me on Twitter,  Facebook, or Google+.

See you tomorrow!

When it’s time to sell, you don’t want to get stuck with an unqualified buyer for your Saline home.  (Original article Vance Shutes).   Let’s take a look at that today.

When you’re thinking of buying a Saline home or condo, one of the most important first steps you can make is to talk with an outstanding local mortgage lender.  If you don’t, you may have no idea how much home you can afford.

Realtors® know that a buyer who is already qualified by a local mortgage lender has the best chance of getting the home they want.  After all, when we’re helping a buyer to find a home, we want to be sure that the buyer can actually achieve their goal!

An unqualified buyer may have “champagne dreams” while their budget may be a bit less.  Can you imagine the heartbreak of having to “settle” for less home (that you can afford) after seeing homes that you cannot afford?

As a seller, imagine that an unqualified buyer has just seen your Saline home or condo, and home, and they want to write an offer, as well.  Which offer(s) are you going to seriously consider – the offer(s) with a mortgage qualification letter, or the one without?  Understanding this simple point should be enough to get every buyer to visit an outstanding local mortgage lender.

Don’t be an unqualified buyer.  Get your mortgage approval before you shop!

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

If you like what you’re reading here, please subscribe, and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

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See you tomorrow!

You’re invited to visit an open house at 514 Edinburgh Court, Saline, this coming Sunday, May 20, from 1 – 4 pm.  Come and check out this fabulous 4-bedroom colonial in the Torwood subdivision in Saline, now offered at $309,900.

When you are considering buying a home in Saline, Michigan, you’ll want to see many homes before deciding which home is the right one for you.  One of the easiest ways to do so is to visit an open house.

If you are looking for more information about open houses in Saline, you can look here.

If Edinburgh Court isn’t the home you’re looking for, there are many others to choose from.  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

If you like what you’re reading here, please subscribe, and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

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See you on Sunday!

Here’s the latest Saline real estate market report for May 2012.  This is an update to my monthly sales report from the beginning of the month.   (Original article by Vance Shutes).   Let’s take a look at how the market for Saline homes looks right now:

Saline real estate market report for May 2012

Each month, I review all of the homes for sale (column 2, “available”) in the Saline school district within defined price ranges (column 1), and those homes where the sellers have accepted a purchase offer from a buyer (columns 3 & 4 – Percent Pending).  I also review all of the sales in past 30 days in each price range (column 6).  The results for May 2012 are shown in the table below:

The market for Saline homes continues to be especially strong in this late-Spring market!  Once again, there’s good news for sellers, mixed news for buyers.

The number of homes actively for sale rose again, slightly, from 181 in April to 185 now.  We were in the 220’s last summer.  When you’re buying a home, having plenty to choose from is a good thing, so this isn’t necessarily the best news for Saline home buyers.  When you’re selling a home, less competition is good, so having fewer homes on the market is good for sellers.

The next chart will help to understand the improvement in our outlook for Saline homes going into the summer market.

This chart shows the overall percent pending (column 4) in the Saline market, going back to 1996.  A reminder that we’re in a buyer’s market below 20% pending, a seller’s market above 25% pending, and a mixed market between 20-25%.  At our present 27% pending in Saline, that says that we’re in a seller’s market right now.  Our winter low for percent pending (15% in January) was higher than our winter low the previous winter, indicating that our real estate market is in even better shape this year than in any of the past five years.  Our “Seller’s Market” status means that there are more buyers looking at fewer homes available, so the seller has a slight edge in negotiating power right now.

I’ll continue to monitor our market conditions, which I review with home sellers when they are considering whether to market their home.  You can make better decisions when you know the overall condition of our market for Saline real estate.

If you want to be the first to know about conditions in the market for a Saline home or condo, please subscribe and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market, and check out what others have been saying about me.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

Follow me on Twitter,  Facebook, or Google+.

See you tomorrow!

Sometimes when I’m looking at a Saline home or condo with buyers, they would like to know what might have caused the home sellers to say “What a surprise!” when they bought the house.   But when is it appropriate to find these things out, or to even ask?  (Original article Vance Shutes).   Let’s look into that today.

When you are looking to buy a Saline home or condo, the sellers can be an outstanding source of information about the area around their home that doesn’t seem really important at the time, but can be a big time-saver down the road.  Here are some examples of what might have caused the home sellers to say “What a surprise!” (either pleasantly, or not) when they bought the house:

• How friendly the neighbors were.
• How the sun shines into a room at a certain time of the year.
• How many people they can fit around the dinner table at Thanksgiving dinner.
• The delightful squeals of laughter from schoolchildren in the school yard across the street.

There’s a good chance that whatever caused the sellers to say “What a surprise!” after they bought the house is likely to do the same for you, so it’s great to know that before the sellers leave!

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

If you like what you’re reading here, please subscribe, and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

Follow me on Twitter,  Facebook, or Google+.

See you tomorrow!

Take a look at this home for lease in Saline, located at 343 South Harris, Saline, MI  48176.  Priced at $1500/month for lease, it is available beginning July 1, 2012.

Welcome to 343 South Harris, backing to the Pleasant Ridge school in Saline!  This is a beautiful 3-bedroom ranch home, with one full and one half-bath.  There are gleaming oak floors throughout the living areas, and a partially-finished full basement.  There’s also a 1-car attached garage.  The owner maintains the lawn and gardens in the summer, the tenant takes care of the sidewalks and driveway in the winter.  This home is in a great location, convenient to Ann Arbor and points east.  Come and enjoy what Saline has to offer!

Notables for 343 South Harris

*  City of Saline

*  One month security deposit required for lease.

*  Schools:  Saline

K-4:        Pleasant Ridge

5-6:        Heritage School

                    7-8:      Saline Middle School

9-12:    Saline High School

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you like what you’re reading here, please subscribe, and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

Follow me on Twitter,  Facebook, or Google+.

See you tomorrow!

Take a look at this home for lease in Saline, located at 238 Pleasant Ridge, Saline, MI  48176.  Priced at $1500/month for lease, it is available beginning July 1, 2012.

Welcome to 238 Pleasant Ridge, across the street from the Pleasant Ridge school in Saline!  This is a beautiful 3-bedroom ranch home, with one full and one half-bath.  There are gleaming oak floors throughout the living areas, and a partially-finished full basement.  There’s also a 2-car detached garage.  The owner maintains the lawn and gardens in the summer, the tenant takes care of the sidewalks and driveway in the winter.  This home is in a great location, convenient to Ann Arbor and points east.  Come and enjoy what Saline has to offer!

Here’s a brief walking tour of 238 Pleasant Ridge:

Notables:

*  City of Saline

*  One month security deposit required for lease.

*  Schools:  Saline

K-4:        Pleasant Ridge

5-6:        Heritage School

7-8:      Saline Middle School

9-12:    Saline High School

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you like what you’re reading here, please subscribe, and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

Follow me on Twitter,  Facebook, or Google+.

See you tomorrow!

On the Michigan Diag is The Bronze M.  (Original article by Vance Shutes).   If you’ve ever walked across the Diag, you’ve probably walked right over the Bronze M.

There is an interesting superstition about the Bronze M – that you will fail your first hourly exam if you step on it.  I’m not sure how long that superstition applies – I mean, if you step on it, and then fail your first hourly, and then step on the Bronze M again, will you fail your next hourly?

Students will be returning to UM (and other universities) in the coming week, so it’s important to know about these campus superstitions.

As a matter of full disclosure, I NEVER stepped on the Bronze M as a student at Michigan, and I never failed an hourly exam.  Hmmm…….

As a neighbor to Ann Arbor, Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market, and check out what others have been saying about me.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

If you like what you’re reading here, please subscribe, and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

Follow me on Twitter,  Facebook, or Google+.

See you on Monday!

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market, and check out what others have been saying about me.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

If you like what you’re reading here, please subscribe, and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

Follow me on Twitter,  Facebook, or Google+.

See you tomorrow!

I’ve written before about the difference between a pre-qualification and a full lender pre-approval before shopping for your Saline home or condo.  (Original article by Vance Shutes).   Let’s take another look at lender pre-approval today.

Pre-approval means that your mortgage lender has approved you as a good risk to loan money to for a mortgage – that you’ll pay it back.  You become a “cash” shopper in the marketplace – the seller of any property knows that you’re serious about buying a home.

So why is it so important to get a lender pre-approval?

A sales agreement between a seller and a buyer of any Saline real estate is a legal contract.  It’s not something to be taken lightly.  It’s a contract which specifies the terms of exchange between the seller and buyer – “I’m selling you my Saline home in exchange for your paying $X to me at the closing”.

When the seller agrees to the terms of a contract with you, the buyer, that seller wants to know that you’re going to live up to the terms of the contract.  The best way to put the seller’s mind at ease is to assure them, with a lender pre-approval, that you are ready, willing, and ABLE to complete the terms of the contract.

If you write an offer to purchase your Saline home or condo without such a lender pre-approval, that seller has no idea whether you’re even financially able to complete the contract.  And who wants to sign a contract with a stranger – for the largest financial transaction in most of our lives – when you don’t know whether they can complete the contract?

Trust your Realtor® when they advise you to work with an outstanding local mortgage lender to secure your lender pre-approval.  You’ll be glad that you did when it comes time to negotiate!

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market, and check out what others have been saying about me.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

If you like what you’re reading here, please subscribe, and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

Follow me on Twitter,  Facebook, or Google+.

See you tomorrow!