All posts by Martin Bouma

Eberwhite, Ann Arbor Real Estate Report

Eberwhite Real Estate Report – July 2018

Eberwhite is a collection of Ann Arbor neighborhoods; the homes come in a variety of styles and layouts with both traditional and renovated residences. There are currently 20 homes listed for sale and so far this year, 28 have sold. Eberwhite subdivision, Ann Arbor MI

Homes for Sale:

  • $1,195,000. 6 Ridgemor Dr., Ann Arbor. 3865 sq. ft., + 1280 in finished lower level, 6 bedrooms and 3.2 baths.
  • $715,000. 256 Crest Ave., Ann Arbor. 2300 sq. ft., + 700 in finished lower level, 3 bedrooms and 2.1 baths. Sale Pending
  • $650,000. 576-578 Glendale Cir., Ann Arbor. 4120 sq. ft., + 2029 in finished lower level, 5 bedrooms and 5.2 baths. Sale Pending
  • $584,900. 108 S. Revena Blvd., Ann Arbor. 1742 square feet with 3 bedrooms and 1.1 baths. Listed by The Bouma Group; Sale Pending
  • $579,900. 429 Crest Ave., Ann Arbor. 1642 square feet with 3 bedrooms and 2.0 baths.
  • $575,000. 1402 Charlton St., Ann Arbor. 1754 square feet with 3 bedrooms and 1.1 baths.
  • $499,900. 1706 Pauline Blvd., Ann Arbor. 2496 square feet with 5 bedrooms and 2.1 baths.
  • $479,900. 1214 South 7th St., Ann Arbor. 2042 sq. ft., + 1600 in finished lower level, 4 bedrooms and 2.1 baths.

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

Continue reading

Garden Homes Park, Ann Arbor Real Estate Update

Garden Homes Park Real Estate Report – August 2018

Garden Homes Park is a charming Ann Arbor neighborhood, the adorable homes surround a beautiful 11 acre park that is situated in the center of the subdivision. There are currently 4 homes listed for sale and so far this year, 4 have sold.Garden Homes Park Neighborhood Ann Arbor MI

Homes for Sale:

  • $280,000. 1521 Franklin St., Ann Arbor. 1410 sq. ft., + 200 in finished lower level, 3 bedrooms and 1.1 baths. Sale Pending
  • $269,900. 1755 N. Maple Rd., Ann Arbor. 1232 square feet with 3 bedrooms and 2.0 baths.
  • $259,000. 1569 Franklin St., Ann Arbor. 1367 square feet with 4 bedrooms and 1.0 baths. Sale Pending
  • $234,900. 1770 N. Maple Rd., Ann Arbor. 1634 square feet with 5 bedrooms and 1.0 baths.

Sold Homes:

  • $325,000. 2228 Foss St., Ann Arbor. 1493 sq. ft., + 300 in finished lower level, 3 bedrooms and 2.0 baths.
  • $290,000. 1641 Fulmer St., Ann Arbor. 1115 sq. ft. ,+ 35 in finished lower level, 3 bedrooms and 2.0 baths.
  • $230,000. 1756 N. Maple Rd., Ann Arbor. 1306 in finished lower level, 3 bedrooms and 2.1 baths.
  • $175,000. 1650 Calvin, Ann Arbor. 962 square feet with 2 bedrooms and 1.o baths.

Last year at Garden Homes Park, 7 homes sold with an average sale price of $304,429 and an average price per square foot of $164.00. The 4 homes sold this year have an ASP of $255,000, down 16.2% and an A$/SF of $209.00, up 27.4%. To learn more about home values at Garden Homes 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!

Deer Run, Dexter Real Estate Report

Deer Run Real Estate Report – August 2018

Deer Run is a lovely Dexter subdivision; not only are the views stunning, but the lots are large as well. Further, each home is uniquely designed and this contributes to the appeal of the neighborhood. There are currently no homes listed for sale and so far this year, 2 have sold.Deer Run Subdivision Ann Arbor MI

Sold Homes:

  • $475,000. 5542 Deer Run Ln., Ann Arbor. 2976 sq. ft., + 1000 in finished lower level with 5 bedrooms and 3.1 baths.
  • $458,000. 6810 Brassow Ln., Ann Arbor 2469 sq. ft., + 1600 in finished lower level with 5 bedrooms and 3.1 baths.

Last year at Deer Run, 2 homes sold with an average sale price of $389,500 and an average price per square foot of $153.00. The 2 homes sold this year have an ASP of $466,500, up 19.8%, and an A$/SF of $177.00, up 15.7%. Comparing the average square footage of the 2 homes sold in 2017 versus this year, there is a difference of approximately 200 square feet; 2018 averaging at 2722 square feet meaning more space. To learn more about home values at Deer Run, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Dexter neighborhoods here!

 

Home Buying 101: The Service Providers You Need for Your Home Purchase

Home Buying 101

When it comes to buying a home, there are more things to consider than you may realize. After all, it’s a lot more complicated than walking into the grocery store to buy a gallon of milk!

Buying a home is one of the biggest purchases the average person makes. As such, you can expect there to be a lot of preparation, negotiation, and paperwork involved. In addition to obtaining a mortgage and signing the paperwork, there are a number of other tasks that need to be completed before you can open the doors to your new home.

Here’s a quick crash course in Home Buying 101: what service providers you need to hire while purchasing your new home.

Mortgage Lender

Man and a woman speaking with a bank lender holding pens.Ideally, you should start talking to lenders before you even begin looking for homes—and get pre-qualified for a mortgage as soon as possible.

Pre-qualification involves reviewing all of your finances, including income, expenses, and savings, with a lender.

Then, the lender will do some math and let you know exactly how much the bank is willing to loan you.

From all of our years of experience, we suggest using a local lender. Contact us for a list of the best in the Ann Arbor area. Continue reading

Hawthorne Ridge, Ann Arbor Real Estate Report

Hawthorne Ridge Real Estate Update – August 2018

Hawthorne Ridge is a splendid Ann Arbor subdivision in an easy access location with many conveniences nearby too. There are currently 2 homes listed for sale and so far this year, 5 have been sold.Hawthorne Ridge Subdivision Ann Arbor MI

Homes for Sale:

  • $429,900. 2353 Alder Ct., Ann Arbor. 2314 sq. ft., + 1198 in finished lower level, 4 bedrooms and 2.2 baths. Sale Pending
  • $425,000. 3198 Honeysuckle Dr., Ann Arbor. 2370 square feet with 4 bedrooms and 2.1 baths. Sale Pending

Sold Homes:

  • $530,000. 3238 Honeysuckle Dr., Ann Arbor. 2677 sq. ft., + 1100 in finished lower level, 5 bedrooms and 3.1 baths.
  • $442,500. 3464 Honeysuckle Ct., Ann Arbor. 2594 sq. ft., + 1000 in finished lower level, 5 bedrooms and 3.1 baths.
  • $410,000. 3397 Honeysuckle Ct., Ann Arbor. 2426 sq. ft., + 1000 in finished lower level, 4 bedrooms and 3.1 baths.
  • $408,888. 3036 Gallinger Dr., Ann Arbor. 2575 square feet with 4 bedrooms and 2.1 baths.
  • $399,900. 2993 Appleridge Dr., Ann Arbor. 1647 sq. ft., + 1100 in finished lower level, 4 bedrooms and 3.0 baths.

Last year at Hawthorne Ridge, 6 homes sold with an average sale price of $423,167 and an average price per square foot of $165.00. The 5 homes sold this year have an ASP of $438,250, up 3.6%, and an A$/SF of $188.00, up 14%. To learn more about home values at Hawthorne Ridge, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor neighborhoods here!

Ann Arbor Condominium Report – June 2018

Ann Arbor Condos See a Decline in Sold Units but Prices Rise
Ann Arbor Condo Report for June

Both listing and selling prices are increasing for Ann Arbor condos. This year, only one more condo was listed in June, 87 units, compared to last year. Prices have seen a significant change of 29.4%, from the average listing price in 2017 being $272,948 to $353,306 currently. Interestingly, there has been a 40.4% decline in the amount of sales compared to last June, 89 to 59 sold condos. Sale prices have risen with the listing prices, $249,734 to $283,620 this June, which is a difference of 13.6%. Unfortunately for sellers, the average days on the market has doubled since the previous June equaling 30 days. There has been a 4.9% decrease in the amount of listings entered so far this year compared to last year, 408 versus 429 condos listed. Listings prices currently average at $342,275 to date, which is 16.1% higher than the year prior at this time when the average LP was $294,715. The average selling price has increased too, but not as much as the LP; from $251,260 in the prior year to $280,807 so far this year, which is an 11.8% raise. There is 25% less inventory being sold year to date, from 323 last year to 242 so far. Overall, it is a seller’s market for Ann Arbor condos; with the same month supply as May. Affordable condos priced under $400k are beginning to slowly move more towards a seller’s market. Whereas condos ranging from $400k to $1m are headed towards a buyer’s market. There is not so much of an extreme buyer’s market for luxury condos over $1m compared to last month.

New inventory isn’t altered much compared to last year. However, there has been a decent decline in the amount of sold condos and prices have seen a considerable increase. Whether you are looking to buy or sell, contact the condo specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Check back here for more updated information on the market in Ann Arbor and surrounding areas!

 

Ann Arbor Real Estate Report – June 2018

Low Inventory Encourages Prices to Climb

Ann Arbor Residential Real Estate Report for June

Although only slightly less, Ann Arbor homes saw a decrease in both listings and sales entered this June compared to the previous. The amount of new listings entered only differed by 1.5%, from 194 homes to 197 homes last June. Listing prices saw an increase of 5.9% though, with the average LP being $449,417 in 2017 and $475,710 currently. Properties sold in June declined by 4.3%, 139 versus 133 sold homes. However, the average sale price rose by 3.4% from $434,142 last June to $449,116 this year. Houses are being sold faster, with the average amount of days on the market being 18; this is great for sellers. So far this year, there is a 3.8% increase in homes listed from 840 in the year prior to 872 now. With the small increase of homes added to the market, prices have done the same, $477,729 versus 488,286; an increase of 2.2%. The amount of properties sold to date has decreased 3.3% from 540 to 522 sold homes. There has been minimal discrepancy between the average sale price so far this year compared to the previous year, $435,573 versus $437,914 currently. Overall, it is a seller’s market for Ann Arbor residential homes; especially for homes priced under $600k. Higher end homes, in the $600k to $1m range, are considered to be a part of a balanced market. As per usual, luxury homes that are over $1m are a buyer’s market. Continue reading

Bridgefield Estates, Ann Arbor Real Estate Update

Bridgefield Estates, Ann Arbor Real Estate Report – June 2018

Bridgefield Estates is a cozy Ann Arbor neighborhood because of the limited number of homes. The subdivision is surrounded by nature with many homes backing to wetlands or woods. Further, the homes include many desirable features and authentic layouts that were customized with the local building company. There are currently no homes listed for sale and so far this year, 2 have sold.Bridgefield Estates, Ann Arbor MI

Sold Homes:

  • $321,000. 3151 Bridgefield Dr., Ann Arbor. 1638 sq. ft., + 700 in finished lower level. 3 bedrooms and 3.1 baths.
  • $308,000. 5232 Falling Leaf Dr., Ann Arbor. 1709 sq. ft., + 750 in finished lower level, 3 bedrooms and 3.1 baths.

Last year at Bridgefield Estates, 2 homes sold with an average sale price of $324,250 and an average price per square foot of $133.00. The 2 homes sold this year have an ASP of $314,500, down 3%, and an A$/SF of $188.00, up a significant 41%. In comparison, the homes sold in 2017 had 750+ more square feet than the homes sold this year. To learn more about home values at Bridgefield Estates, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor neighborhoods here!

Arbor Woods Neighborhood, Ann Arbor Real Estate Report

Arbor Woods Real Estate Report – June 2018

Arbor Woods is a great Ann Arbor subdivision with a variety of options for floor plans. Along with its convenient location, the neighborhood offers a beautiful setting of 40+ acres of natural areas. There is currently 1 home listed for sale and so far this year, 1 has sold.Arbor Woods Subdivision, Ann Arbor MI

Homes for Sale:

  • $275,000. 4399 Knollcrest Dr., Ann Arbor. 1611 square feet with 4 bedrooms and 2.1 baths. Sale Pending

Sold Homes:

  • $352,000. 4681 Blossom Hill Tr., Ann Arbor. 2320 sq. ft., + 100 in finished lower level, 4 bedrooms and 3.1 baths.

Last year at Arbor Woods, only 1 home sold with a sale price of $283,000, and a price per square foot of $149.00. The 1 home sold this year has a sale price of $352,000, up 24% and an A$/SF of $151.72, up slightly. To compare, the home sold in 2017 had 425 square feet less than the home sold this year. To learn more about home values at Arbor Woods, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor neighborhoods here!

Brookview Highlands, Saline Real Estate Update

Brookview Highlands, Saline Real Estate Report – June 2018

Brookview Highlands is an easily accessible Saline neighborhood with beautiful homes located on large lots. There are currently 4 homes listed for sale and so far this year, 3 have sold.Brookview Highlands, Saline MI

Homes for Sale:

  • $729,000. 1754 Stonebridge Dr., Saline. 4563 sq. ft., + 3300 in finished lower level, 5 bedrooms and 4.2 baths. Sale Pending
  • $699,000. 1746 Fairview Ct., Saline. 3909 sq. ft., + 1465 in finished lower level, 5 bedrooms and 4.0 baths.
  • $649,900. 1795 Brookview Dr., Saline. 3818 sq. ft., + 1000 in finished lower level, 5 bedrooms and 4.1 baths.
  • $499,900. 2290 Windmill Way, Saline. 3018 square feet with 4 bedrooms and 3.1 baths.

Sold Homes:

  • $992,090. 1927 Brookview Dr., Saline. 4646 sq. ft., + 1700 in finished lower level, 5 bedrooms and 4.1 baths.
  • $645,000. 6365 Brookview Dr., Saline. 3438 square feet with 4 bedrooms and 3.1 baths.
  • $525,000. 300 Crestway Ct., Saline. 3092 sq. ft., + 1400 in finished lower level, 4 bedrooms and 3.0 baths.

Last year at Brookview Highlands, 8 homes sold with an average sale price of $622,050 and an average price per square foot of $185.00. The 3 homes sold this year have an ASP of $720,697, up 15.9%, and an A$/SF of $190.00, up 2.7%. To learn more about home values at Brookview Highlands, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Saline subdivisions here!