Archives: September 2017

East Horizons, Saline Real Estate Report

East Horizons Real Estate Report – September 2017East Horizons Subdivision, Ann Arbor MI with Saline Schools

East Horizons subdivision has seen a dramatic increase in home values over the past few years. There are currently 0 homes listed for sale and so far this year, 1 has sold.

Sold Home:

  • $573,200.  5887 Creekview Ct.  3280 sq. ft., +1200 in finished lower level, 5 bedrooms and 3.1 baths.

Last year, 2 homes sold with an average sale price of $457,500 and an average price per square foot of $195.00. The home sold this year has a much higher ASP, $573,200, however, the A$/SF was $175.00, down 10%.  To keep up-to-date with current listings, market statistics and more, visit the East Horizons subdivision page and be sure to check our blog regularly for more real estate information. If you’re thinking of selling your home, find out what it’s worth by contacting us at The Bouma Group, Realtors at 734-761-3060 or email info@bouma.com. We’ve been the market leaders for over 30 years! View more Saline neighborhoods here.

Ann Arbor Hills Real Estate Report

Ann Arbor Hills Real Estate Report – September 2017Ann Arbor Hills Neighborhood Home

There has been a lot of activity at Ann Arbor Hills this year! There are currently 9 homes listed for sale and so far this year, 37 have sold.

Homes for Sale:

  • $1,495,000.  1001 Aberdeen Drive, Ann Arbor. 4100 sq. ft., +1000 in finished lower level, 5 bedrooms and 4.1 baths.
  • $1,450,000.  2108 Melrose Ave, Ann Arbor. 3881 sq. ft., +768 in finished lower level, 5 bedrooms and 3.2 baths.
  • $995,000.  2026 Devonshire, Ann Arbor. 2200 sq. ft., +400 in finished lower level, 4 bedrooms and 3.1 baths. Sale Pending
  • $860,000.  1092 Heather Way, Ann Arbor. 3389 sq. ft., +1488 in finished lower level, 4 bedrooms and 4 baths.
  • $824,000.  1105 Chestnut St., Ann Arbor. 3181 sq. ft., +1286 in finished lower level, 4 bedrooms and 3.1 baths.
  • $739,000.  1424 Arlington Blvd., Ann Arbor. 2884 sq. ft., +1000 in finished lower level, 5 bedrooms and 3.1 baths.
  • $698,000.  901 Berkshire, Ann Arbor. 1898 sq. ft., +389 in finished lower level, 3 bedrooms and 2.1 baths.
  • $695,000.  2410 Adare, Ann Arbor. 2881 square feet with 4 bedrooms and 3 baths.
  • $459,900.  1242 Arlington, Ann Arbor. 1635 square feet with 3 bedrooms and 2.1 baths.

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Why Are So Few Homes for Sale?

How is the Lack of Homes for Sale Affecting Buyers?

Detective Buyer Searching for Homes for Sale

There is no doubt that the largest challenge in today’s housing market is a lack of inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.”

First American just released the results of a survey which sheds light on the reasons for the current lack of supply.

The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey:

  • 47% – existing homeowners are worried that they will not be able to find a home to buy
  • 26.5% – first-time buyer demand is absorbing a large share of available homes
  • 11.3% – existing homeowners’ mortgage rates are lower than the current rates
  • 10.6% – insufficient or negative equity in the home
  • 4.6% – foreign buyer demand is absorbing a large share of available homes

As the survey revealed, there is a shortage of current homeowners willing to put their homes on the market for one of three reasons (see numbers 1, 3 and 4 above).

Is this an opportunity for some homeowners?

The report on the survey explains:

“The crowd has spoken, and it seems in many markets home buyers and sellers alike are ‘imprisoned’ by the lack of housing inventory.”

That leaves a tremendous opportunity for every homeowner not facing these concerns. If you can put your home on the market today, you are subject to far less competition than at any time in recent history. That will result in your home selling quickly and for the highest possible price.

The Bottom Line

While many homeowners are feeling imprisoned for multiple reasons, those who are not handcuffed by these concerns have a once in a lifetime opportunity to sell at a peak selling time. Plenty of buyers have seen what the summer market has leftover and are just waiting for better homes to come to the market. If you’re an anxious buyer waiting for new inventory, let one of our Buyer Specialists get you set up on a ‘flash’. You will receive instant notification of new listings that fit your criteria as soon as they hit the market. Give us a call at 734-761-3060 or shoot us an email at info@bouma.com and we’ll get started!

1101 Granger Ave., Ann Arbor Home in Burns Park

1101 Granger Ave., Ann Arbor, MI1101 Granger Ave.

This light filled bungalow has all of the charm and character that the 1920’s had to offer and the modern conveniences of today’s standards. The home at 1101 Granger Ave. offers:

  • 1,404 sq ft with 3 bedrooms and 2 full bathrooms.
  • Warm and inviting front porch is complete with a swing and plenty of room to sit a while, which leads you into the bright formal living room with wood burning fireplace and a built in bookcase.
  • The formal dining room takes you directly into the newly renovated kitchen with new white cabinets and stainless steel appliances and butcher block counters, as well as built in benches in the eat in breakfast nook.
  • Upstairs has 3 large bedrooms and a large shared bathroom.
  • More photos and features
  • Virtual Tour
  • MLS #3252143
  • Listed for $414,900

Schedule a private showing today for 1101 Granger Ave – Contact The Bouma Group, Realtors at 734-761-3060 or email info@bouma.com.

View photos and amenities for Burns Park.

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Ann Arbor Condo Market Report – Summer 2017

Sale Prices Soar for Ann Arbor Condos

Ann Arbor Condo Statistics for August 2017 and Second Quarter

When comparing Ann Arbor condo data year-to-date through August of 2016 to that of 2017, little has changed, except in one very important area. The number of new listings that came to the market was 552 in 2016 and 550 this year, basically the same, as with the number of sales, 455 vs. 447. However, the average sale price of Ann Arbor condos has skyrocketed from $203,743 YTD in 2016 to $252,547 this YTD, an increase of $24%!  The low supply is keeping demand high, which is raising the average sale price. This is also apparent in the average days on the market which has decreased from 31 to 27. Once we see inventory begin to rise, prices will level out. Continue reading

Dhu Varren on the Park, Ann Arbor Real Estate Update

Dhu Varren on the Park Real Estate Report – September 2017Dhu Varren on the Park subdivision Ann Arbor MI neighborhood

Dhu Varren on the Park is an Ann Arbor neighborhood with traditional and contemporary style homes, many of which, back to a ravine, woods or Leslie Park; Olsen and Leslie Park are within walking distance of the subdivision and have a variety of courts and walking trails. There is currently 1 home listed for sale and so far this year, 1 has sold.

Homes for Sale:

  • $425,000. 2872 Leslie Park Cir., Ann Arbor. 2659 square feet with 4 bedrooms and 2.1 baths.

Sold Homes:

  • $460,000. 2818 Leslie Park Cir., Ann Arbor. 3014 sq. ft., + 1100 in finished lower level, 4 bedrooms and 2.2 baths.

Last year at Dhu Varren on the Park, 5 homes sold with an average sale price of $413,900 and an average price per square foot of $169.00. The 1 home sold this year has a sale price of $460,000, up 11%, and a price per square foot of $153.00, down 9%. To learn more about home values at Dhu Varren on the Park, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor neighborhoods here!

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Balmoral Park Condos, Ann Arbor Real Estate Report

Balmoral Park Condos Real Estate Report – September 2017Balmoral Park Condos Ann Arbor MI

Balmoral Park is a newer Ann Arbor complex, the large condos include many features and are situated among mature foliage and wetlands which are wonderfully landscaped. There is currently 1 condo listed for sale and so far this year, 2 have sold.

Condos for Sale:

  • $288,000. 224 W. Oakbrook Dr., Ann Arbor. 1250 sq. ft., + 400 in finished lower level, 2 bedrooms and 2.1 baths. Sale Pending

Sold Condos:

  • $310,000. 139 W. Oakbrook Dr., Ann Arbor. 1470 sq. ft., + 400 in finished lower level, 2 bedrooms and 2.0 baths.
  • $290,000. 225 W. Oakbrook Dr., Ann Arbor. 1250 sq. ft., + 624 in finished lower level, 3 bedrooms and 2.1 baths.

Last year at Balmoral Park, 10 condos sold with an average sale price of $273,480 an an average price per square foot of $211.00. The 2 condos sold this year have an ASP of $300,000, up 10%, and an A$/SF of $221.00, up 5%. To learn more about home values at Balmoral Park, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor condominiums here!

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Stonebridge Estates, Ann Arbor Real Estate Update

Stonebridge Estates Real Estate Report – September 2017

Stonebridge Estates is a large Ann Arbor neighborhood made up of several different communities, it is very popular and has a community park. There are currently 9 homes listed for sale and so far this year, 6 have sold.Stonebridge Estates subdivision Ann Arbor MI neighborhood

Homes for Sale:

  • $799,000. 2040 Bay Hill Ct., Ann Arbor. 3902 sq. ft., + 1293 in finished lower level, 4 bedrooms and 3.1 baths. Sale Pending
  • $645,000. 1718 Bent Pine Ct., Ann Arbor. 2520 sq. ft., + 978 in finished lower level, 4 bedrooms and 3.1 baths.
  • $644,000. 1776 Stonebridge Dr. N., Ann Arbor. 2994 sq. ft., + 1290 in finished lower level, 3 bedrooms and 3.1 baths. Sale Pending
  • $635,000. 1848 S. Stonebridge Dr., Ann Arbor. 3372 sq. ft., + 1200 in finished lower level, 4 bedrooms and 3.2 baths.
  • $614,900. 1725 Stonebridge Dr., Ann Arbor. 3115 sq. ft., + 1350 in finished lower level, 4 bedrooms and 2.1 baths. Listed by The Bouma Group
  • $599,900. 1770 Cypress Pointe Ct., Ann Arbor. 3344 sq. ft., + 1800 in finished lower level, 4 bedrooms and 4.1 baths.
  • $556,000. 1856 N. Stonebridge Dr., Ann Arbor. 2716 sq. ft., + 900 in finished lower level, 4 bedrooms and 3.1 baths. Sale Pending
  • $545,000. 4484 Boulder Pond Dr., Ann Arbor. 2867 square feet with 4 bedrooms and 3.1 baths.

For a complete list of Homes for Sale at Stonebridge Estates, Ann Arbor contact us at (734)761-3060

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10 Autumn Upkeep Tips for Your Home and Yard

10 Autumn Upkeep Tips

10 Autumn Upkeep Tips Photo of Fall Leaves

Fall is here! As the temperatures become cooler, it’s a great time to start thinking about autumn maintenance in and around your home. The last thing you want is to be trying to finish home improvement projects outside as the snow starts to fly. Here are 10 autumn upkeep tips that you should consider doing now so that you’ll have more time to prepare for the holidays later.

  1. SEPTIC TANK – In addition to regular inspections, you should have your tank pumped out by a licensed contractor every 2 – 5 years depending on usage.
  2. INDOORS – Replace screens with storm windows if applicable. Reverse your ceiling fan to spin clockwise for fall and winter to pull cool air up and warm air down. Pull out your quilts and comforters to make your home more cozy.
  3. DÉCOR – Why wait until it’s cold and snowy to hang holiday lights? Get the job done now while it’s warm and sunny, and then just plug them in when the time is right. Be sure to test everything before hanging and pick up extra bulbs if needed.
  4. HVAC – Have you changed your furnace filter lately? Consider scheduling your annual furnace inspection now before they book up. Have venting cleaned and/or inspected.
  5. FIREPLACE – Have your chimney cleaned and inspected prior to using your fireplace for chilly fall evenings. Have firewood delivered or find a reliable source.
  6. INSULATION – Add attic and/or wall insulation to lower heating bills over the winter. Purchase insulating film and window air conditioner covers if you plan to use them. Weather-strip windows and doors and install storm windows and doors if applicable.
  7. ROOF – Inspect your roof for damage or dampness and make or schedule repairs if needed. Clean out and inspect gutters. Consider installing heating cables if you have sustained damage from ice dams in the past.
  8. WATER – Turn off outside faucets and ensure that all related pipes have been drained to avoid bursting. Direct downspouts far away from your foundation to avoid flooding during spring thaws.
  9. OUTSIDE – Put away patio furniture, grills, and yard implements. Cut back perennials and clean out annuals. Winterize your lawn mower and have your snow blower readied for use. Purchase a new shovel before the stores run out after the first snow. Have salt and/or sand ready for your sidewalk and driveway.
  10. FINANCES – While this could be done any time of year, “earn” a little extra money for holiday shopping by calling your alarm, cable, and insurance companies to ask if there are any new promotions or discounts that might apply to you, especially if you have been a long-time customer. Doing a little research beforehand, such as calling a competitor for a bid, could result in significant savings from what you’re currently paying.

If you think you might be ready for a new home to improve, call us today and we’ll match you with a seasoned exclusive buyers agent at The Bouma Group, Realtors to guide you through the process. They have local knowledge and market experience and can help you find your new home for the holidays. Call 734-761-3060 or email info@bouma.com today!

Loch Alpine, Dexter Real Estate Report

Loch Alpine Real Estate Report – September 2017Loch Alpine subdivision Dexter MI neighborhood

Loch Alpine is a family friendly Dexter neighborhood surrounded by nature, not only are there lakes and walking trails but lots also range from 1/4 – 1 acre in size; there is also other outdoor recreational areas nearby. There are currently 6 homes listed for sale and so far this year, 15 have sold.

Homes for Sale:

  • $544,900. 4575 East Loch Alpine. 3052 sq. ft., + 850 in finished lower level, 4 bedrooms and 2.2 baths.
  • $385,000. 4345 Crestline Drive. 1946 sq. ft., + 1500 in finished lower level, 4 bedrooms and 3.0 baths.
  • $362,500. 4536 Bridgeway Drive. 2345 square feet with 4 bedrooms and 2.1 baths.
  • $319,000. 4181 Sunset Court. 2089 sq. ft., + 660 in finished lower level, 3 bedrooms and 2.2 baths.
  • $299,000. 3820 West Loch Alpine Drive. 2026 square feet with 3 bedrooms and 2.0 baths.
  • $279,000. 4041 Rondo Court. 2091 sq. ft., + 250 in finished lower level, 3 bedrooms and 2.0 baths. Sale Pending

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