Ann Arbor Condo Market Update – October 2011
Kelly Green Commons, Ann Arbor are duplex style units located on the west side of town in a residential setting. There are currently 0 units for sale and so far this year, 1 condo has been rented.
- $1425/month. 1200 square feet with 2 bedrooms and 1.1 baths.
Last year at Kelly Green Commons, 1 condo sold for $140,000 and had an average price per square foot of $98.59. Due to the small size of Kelly Green Commons, condos don’t come up for sale too often. To receive instant notification of new listings or to learn more about these Ann Arbor Condos, contact The Bouma Group today at 734-761-3060 or email@example.com. And for up-to-the-minute listing and sold information for all Washtenaw County Condos, visit the Ann Arbor Condo Hotline here!
Warren Buffet Thinks So.
The most successful investor and third wealthiest person in the world, Warren Buffet, recently shared his belief that real estate is still a good investment. He stated “The third best investment I’ve ever made was the purchase of my home” with the first two being wedding rings. In his annual letter to shareholders, he points out that, “Home ownership makes sense for most Americans, particularly at today’s lower prices and bargain interest rates”.
But, he advises to use caution when purchasing real estate and follow these tips:
- Only purchase a home that you can afford. Don’t bank on growing into your house payment. Be able to afford it now, including having extra cash for unexpected events.
- Buy low. Now is the perfect time for this, as housing prices are at an all-time low. Any market is impossible to predict, so don’t wait to take advantage of it.
- Get a fixed mortgage. In the past, in order to afford their house payment buyers opted for a variable rate with the hopes their home would gain value and they could refinance into a lower payment in the near future. When the housing market went south, home values did not increase, rates increased, and homeowners could no longer afford their payments.
- Plan on a long term hold. Home values fluctuate, but statistics show that over time real estate values increase. Plan on owning your home for at least 10 years to realize a return on your investment. Warren Buffet actually still lives in the Nebraska home he purchased 52 years ago for $31,500.
Spring is here and the Ann Arbor real estate market is full of great deals. Whether you’re buying or selling a home, The BoumaGroup can answer any questions you have about real estate in Ann Arbor. Thinking of settling down in Washtenaw County, Dexter, or a specific Ann Arbor neighborhood? Call the Bouma Group today. And don’t forget to check out our Condo Hotline – we know the Ann Arbor Condominium market better than anyone!