The new Housing Market report has just been released. If you would like information and your
neighborhood please contact me at kim@kimfosterrealtor,com or phone me at 734-678-7839.
If you would like me to come out to your home to meet you and list your home do not hesitate to call.
I specialize in Ann Arbor and the surrounding areas and have just been recognized as being in the top 5%
of all Realtors in the United States.The following is the latest release from the Ann Arbor Board of Realtors.
For immediate release
March 10, 2010
Ann Arbor Area Board of REALTORS®
Good-bye 2009! Real estate sales are up nicely, compared to last year, according to
numbers released by the Ann Arbor Area Board of REALTORS®. The data shows an increase
of 37 percent in sales, with single family residential posting 23 percent more sales than last
year and the sales of condos almost doubled, from 20 in February 2009, to 38 units sold in
February 2010.
In keeping with the national trend, sales prices have begun the slow climb upward, with an
increase of 5.5 percent year-to-date, over last year at this time. The dominant factor in
rising home sales and stabilizing prices is the home buyer tax credit. Buyers are responding
to the program, and that - combined with record low mortgage interest rates - is attracting
purchasers to the market. Buyers who have a contract in place by April 30, 2010, have until
June 30, 2010 to finalized the transaction to get a credit of up to $8,000 for first-time
buyers and $6,500 for repeat buyers.
Near term market conditions will remain favorable. While interest rates are expected to
trend up later this year, affordability continues at healthy levels. In general, housing market
conditions are good. Home prices are steadying and inventory, while drawing down,
continues to offer buyers a variety of options.
As we enter a New Year many Sellers wonder what 2008 holds for them. Though we are not out of the woods yet, there are many positive things happening in Michigan and the Ann Arbor area that is at least changing the attitudes of home sellers and Buyers. The Pfizer facility welcomes Three New Companies moving in this year and they expect another 2-3 other companies to follow. Toyota is still going strong. Ford and GM have financial plans in place to help them become profitable again though it has been a long road and we are not yet near the end, there is a light at the end of the tunnel. That being said Inventory is going down in the Ann Arbor Area. Buyers that need to move to the area because of Job or Family are still moving, Investors are taking advantage of the opportunity to buy some of the foreclosed and short sale properties and local people continue to upgrade or downsize their homes to meet their needs. I see more and more properties that are priced correctly for current market conditions sell at or close to full price. Buyers certainly don't want to miss the opportunity to buy now with many choices of homes available and interest rates hovering around 6.25%. All and All, I expect this will be a Great Year for both Buyers and Sellers. I expect to see those homes that have been on the market for over nine months now (if priced to correctly ) to sell as we move into Spring. Remember to stay Positive, Enjoy life and Treasure the ones you Love. I wish everyone a Healthy, Happy and Prosperous New Year. For more information on Me or to Search MLS please click on the link below. http://www.annarborestateproperties.com/ Kim Foster Serving Washtenaw County for over 10 Years. Charles Reinhart Realtors. 2452 East Stadium Blvd.
Ann Arbor Mi 48104
Cell 678-7839
I began my Real Estate Career in 1984 in So. California and I am nationally recognized as being in the top 5 % of all Realtors in the Natiion. Presidents Gold Club Member.
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