Summer is the time when Ann Arbor really struts its stuff.  Beginning with the Ann Arbor Summer Festival, June 18 – July 11, downtown Ann Arbor is particularly welcoming to visitors as the area plays host to over 100 events.  This festival centers on music, while the Ann Arbor Art Fairs, which start next month, shift the emphasis to art. 

Originally a showcase for classical music and theater, the Summer Festival now features a mix of all styles, from jazz to disco, rock to ethnic genres, plus other family entertainment.  Held in the area between Thayer, North University, and Fletcher streets, the festival includes an exciting mix of music, movies, dance, food, and hands-on activities for all.  There will be paid-admission indoor performances at Power Center and Hill Auditorium and free outdoor concerts on Ingalls Mall.

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The “Green Buildings for Cool Cities” tour, sponsored by The Sierra Club and The U.S. Green Building Council, will unveil exciting housing possibililities in Ann Arbor this Saturday and Sunday, June 12 & 13. As the world becomes increasingly  environmentally conscientious, you may be thinking of buying a new green home – or finding a home to make it more green – right here in Ann Arbor or the surrounding area. Offering guided tours each day from 9am-3pm (with self-guided tours until 5pm each day), this tour is an opportunity to learn about energy efficient, sustainable home building methods directly from the builders and architects who made them that way. You’ll experience the inner workings of homes that work hard to keep their owners, communities, and the earth safe and healthy.   Read the rest of this entry

The one really interesting trend that we are noticing in the Ann Arbor real estate market is that the housing inventory is actually decreasing as we head into late Spring and Summer.  This is normally a time when inventory should be increasing. There has been an overall drop in inventory of 8% from last month. In the beginning of May there were 841 homes listed for sale in Ann Arbor. In the beginning of June, there were 774 homes listed for sale. A contributing factor to the decrease in inventory is that many home owners owe more on their mortgage than their house is worth, forcing them to stay put for now. 

The decrease in inventory isn’t spread evenly throughout the market.  Every price range under $600,000 has seen a decrease in inventory, ranging from a decrease of 20% in the $100,000 – $200,000 price range, to a decrease of 6% in the $400,000 – $500,000 price range. Once you get above $600,000, inventory has increased over last month. In the $800,000 – $1,000,000 price range there has been a 20% increase in inventory, and only 1 home went under contract in the past 30 days. Read the rest of this entry

By increasing their own flexibility and, in at least one case, taking greater advantage of existing relationships with the University of Michigan’s artificial intelligence laboratory, Ann Arbor military contractors are creatively flourishing. As these companies thrive, the prospect of increased job opportunities in the area means great things for the Ann Arbor real estate market.

Building on Ann Arbor’s 1999 designation as an “IT Zone,” SoarTech Industries, has shifted its focus from futuristic research to research aimed at delivering more immediate technology for the military. SoarTech is gaining recognition for its development of digitally simulated aircraft control systems. The company was one of only 11 out of 471 contenders to win the U.S. Department of Defense’s Army Achievement Award, which honors Small Business Innovation Research projects. SoarTech hopes to attract partners – such as major military contractors Lockheed Martin and Boeing – to help them gain a government deal allowing their aircraft control system to be designed for commercial use.

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The State Street area has, for over 150 years, offered a rich array of goods, services and Ann Arbor real estate situated near the main campus of the University of Michigan. From the annual State Street Art Fair in July to a quick sandwich at Potbelly to the perfect condo to call “home,” State Street provides virtually everything today’s savvy urban dweller needs and wants. 

Although the economy has taken a toll on businesses across the nation and in Ann Arbor, confidence is growing as the South State Street business corridor begins to revitalize. Pittsfield Township officials are actively and aggressively seeking to grow the job market and overcome numerous vacancies, restoring the fiscal health of the area.  According to Township Supervisor Mandy Grewal, area officials are “getting out there and outlining the benefits to businesses of locating” in the community. 

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Are you a fan of Ann Arbor’s Zingerman’s Delicatessen? If so, you’ll be happy to know that the deli recently received a unanimous thumbs-up from the Ann Arbor Planning Commission for expansion. Soon, Ann Arbor will be able to enjoy Zingerman’s “world famous” brownies, mouth-watering sandwiches and widely-varied coffees in a much less crowded and more comfortable environment.

The deli and catering business opened in the Kerrytown neighborhood in the Old Fourth Ward Historic District, in 1982 with a staff of three. It has become one of Ann Arbor’s most successful small businesses EVER. Last year they sold over 300,000 sandwiches, and their staff has grown to 180. Their recognition in the national media and on the internet – as well as throughout the city – has made Zingerman’s an Ann Arbor landmark. The current campus, located at 422 Detroit Street in Ann Arbor, includes a next door cafe and an outdoor plaza.

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While many American auto manufacturers have been struggling to regain a foothold in the sector’s recently troubled economic environment, Ford Motor Co. has been actively restructuring. Their amazing recovery is making Ann Arbor real estate even more appealing. Here are the top five reasons why Ford’s efforts just might make the Ann Arbor region your new hometown:

First, Ford’s success has driven renewed business at the Automotive Components Holdings (ACH) plants in Saline. ACH (controlled by Ford) employs more than 2,000 workers at the Saline plant and plans to invest another $45 million in improvements this year. The plant was facing possible closure or sale, but now it’s thriving.

Second, Ford is committed to modernizing its Rawsonville plant and to begin producing electric vehicle battery packs there. With a $9 million investment and a firm plan to retain 40 jobs, Ford is clearly adapting to new automotive technology.

When you get the good news that your loan application for your Ann Arbor home has been approved, your thoughts turn to what you want to do to your new home before you move in. The appliances were a little old, so you decide you want to buy new stainless steel appliances. Home Depot is having a big sale, so you buy all of the appliances under their 90-days-same-as-cash program and schedule the delivery for the day after your closing. When your tax return arrives, you can pay off the bill. It seems like everything is falling into place. 
 
Hold the presses… thanks to a new rule from Fannie Mae that is effective June 1st, lenders must now pull an additional credit check just prior to closing to verify that the consumer has not added any additional debt. They must also verify the borrower’s Social Security Number and their plans to personally occupy the home. This “loan-quality initiative plan” requires the lender to make sure nothing has changed in the potential buyer’s ability to repay the loan.

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