In our current economic environment, buying a home here in Ann Arbor should be all about the area you select. One of the most critical elements a home buyer must consider is location-location-location! There I said it. Yes, it’s the basic tenant of home buying in Ann Arbor or anywhere.

When Ann Arbor Home Values Rebound, What Neighborhoods Will Experience it First?

When home values begin to rebound will the Washtenaw County neighborhood you select be positioned to rebound the quickest? Below are a few pointers to make sure where you buy a home in Ann Arbor, Chelsea, Dexter, Saline, Ypsilanti, Milan or any other community in Washtenaw County rebounds first.

Factors that Help Propel Better Neighborhood Values in Washtenaw County

Consider these factors when selecting a neighborhood or condo building:

  1. Peaks and valleys with gas prices can help make areas nearer to public transportation experience a rebound in home values first. While traditional suburban residential neighborhoods will be around for a long time, there is a subtle move by buyers toward more urban living scenarios enhanced by walkable communities. Plus, buying a home within close proximity to public transportation or even within a bike ride or walk to your office or work will also help take the sting out of high gas prices (it’s not a matter of if, it’s a matter of when high gas prices return). Fellow Ann Arbor Real Estate agents who studied for their real estate license will remember this type of force or factor affecting property value as an “economic force“.
  2. A great school in a neighborhood will always attract better home values and it’s these neighborhoods that home values will experience a bounce first. Because of the economy, private schools are less attractive making public schools a preferred choice. Superior schools falls into the classification of a “societal force” on real estate values.

More Forces That Impact Washtenaw County Home Values

In part two of this series we will explore other factors that enhance a neighborhood’s ability to experience a rebound in home values sooner, so stay tuned!

Your Ann Arbor Real Estate Expert