Vance Shutes, your Saline, MI Real Estate Connection

Now that the Holidays are past, retailers everywhere are fretting about how to get customers into their stores. In every newspaper around the country, there are full-color advertisements from retailers of every sort, exhorting us to visit their "Big Sale".

A review of our market conditions here in January, 2008, reveals that the same thing is occurring in the Real Estate market, as well. Only, you're just not seeing the big headlines.

So, let me be among the first in this area to trumpet the following headline:

It's The Big Sale!

Seriously, never before in our history has there been such a big sale in the Real Estate market. When has there ever been this many homes available for sale? Never!

Just like in the retail business (when a retailer orders too many of a particular item, they have to lower prices to "move the goods"), the Real Estate market has been experiencing the same thing in our area.

There are many indications that overall prices of homes have come down 15-25% in our region since their peaks of 2003-2004. This is consistent with the retailers' approach, as we Realtors are trying to "move the goods" for our clients. How? By offering some of the best homes at the best prices we've seen in many, many years!

On top of all of this, interest rates continue to be incredibly low, on a historical basis. Just this week, you could get a 30-year, fixed-rate mortgage, for an INCREDIBLE 5.75%.

So, never in our history have we had such a confluence of positives for the Real Estate market - plenty of homes to choose from, fabulous prices, and rock-bottom interest rates.

So, WHAT ARE YOU WAITING FOR?

I know, I know. It's the economy, stupid (to quote a past President of the United States).

But, back to the matter at hand:

Here's a chart of the market conditions for Saline, as of mid-January, 2008.

The top line on the chart shows the number of homes available for sale in the Saline area, going back to 1996. The number of homes for sale began to climb in 2004, and is only now showing some signs of a retreat. So, act fast to be sure to get the home you really want, while it's on the market now.

The lower, blue line on the chart shows the number of homes which actually have sold each month, again going back to 1996. There is a remarkable resiliency in our market, which means that you can't go wrong buying a home in the Saline market.

I've got many other charts like these, including areas like Ann Arbor, and the entire Washtenaw County marketplace. Let me know if you're interested in a particular area, and we'll talk.

By the way, I'll be hosting an open house this coming Sunday, January 19, from 2-4pm, at 1513 White Street in Ann Arbor. It's an affordable home in the Burns Park school district, priced at $225,000, with 3 bedrooms and 2 full baths. There's also a walk-up basement, and a 2-car garage. You are welcome to visit!

The Christmas holiday is over, and it's time for the kids to return to school.

I grew up in Ann Arbor, attending Newport Elementary (now the Rudolf Steiner School), Forsythe Middle School, and Huron High school. Looking back on the experience now, it's understandable why the Ann Arbor public schools are so highly rated. I had some great teachers (and a few clunkers, too), and learned enough to prepare me for the University of Michigan.

Now, I make my home in nearby Saline, where my children have attended the Saline Area schools. In many ways, my kids' experience here in Saline reminds me of my own experience in Ann Arbor. There have been many outstanding teachers, and the curriculum has been well organized and challenging at each grade level.

You couldn't go wrong with a choice of either the Ann Arbor or Saline public schools!

Having also helped buyers in Chelsea, Dexter, Manchester, Milan, Whitmore Lake, and Ypsilanti, I know the value of great schools in the choice of your new home.

If you'd like to compare any of the districts in our area, Great Schools provides an on-line view of how our schools rank, in the state, and in comparison with neighboring districts. It's one of the free sites on the web offering school info.