Starting a family is a big decision, as is choosing a place to call "home."  Ann Arbor, according to a new Kiplinger.com report, is suggested as one of the Top Ten  cities in the country for families. This won't come as a surprise to those already raising families in Washtenaw County; we already know the many benefits of living in Ann Arbor.

The report uses three criteria important for anyone (not just families) as a baseline: the state of the city's economy, the liveliness of the local culture, and the rate of job growth. Then, they factor in some important issues for families: an already-strong presence of families with kids, low crime rates (their figures were provided by the FBI), the quality of the public education system (using ratings from Great.Schools.org), and the availability of parks and recreational venues.

Consider these facts:

• If you like spending time outdoors, Ann Arbor is definitely the place to be. More than 2,000 acres of city parks  means plenty of sledding, cross-country skiing, and "snow person" building in the winter, as well as picnicking and Frisbee-tossing during the more temperate months.

• Using a combination of their own ratings and data from the National Assessment for Educational Progress, GreatSchools.org selected Ann Arbor Public Schools  with a score of eight (ten points is the highest rating) for school districts in mid-sized cities in the United States. This ranking group has noted that overall, the best school districts in the country (including Ann Arbor schools) have a passion for innovation, pushing teachers and students to excel beyond their comfort zone.

• According to the FBI, the Ann Arbor rate of violent crimes per 100,000 residents is 256; the national average is 455. Match this with a low rate of property-related crime (burglary, home/business theft, and motor vehicle theft), and Washtenaw County's overall safety weighs in attractively when you're planning to raise a family here.

Martin Bouma -your Ann Arbor neighborhood expert - can help you find the perfect piece of  Ann Arbor real estate in which to raise your family. Whether you're buying or selling a home, the Bouma Group can answer any questions you have about real estate in Ann Arbor. Thinking of settling down in Washtenaw County, Saline, 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!

As we head into the tail end of summer, we are beginning to notice that the market is stalling a little and has become slow. What I mean by slow is that there are not a lot of buyers out there with a real urgency to buy. Homes are still coming to the market, but they are not being absorbed as quickly as normal.

Under $400,000, the months' supply of inventory is actually increasing - not decreasing as is normal for this time of year. Above $400,000, the inventory is decreasing or staying the same, more due to sellers giving up, versus homes selling. Above $1,000,000, there is an 11% increase in months supply. The total listing inventory for Ann Arbor is down 2.8 percent from last month, and year to date it is down 5.5%. The good news is that homes that are priced right are still selling, and homes that are overpriced are just sitting.

For sellers who aren't motivated to sell, this is not the time to test the market. It simply isn't going to happen for you. Even if you found a buyer willing to pay your price, you still have to get the appraiser to agree. When will we see buyer activity increase? I don't know - no one knows. It depends on a number of factors, with job creation being the most important one. We also have a smaller pool of buyers due to all the foreclosures, and the tightening of lender standards which includes larger down payments.

The good news? With interest rates below 5% and below 4% for a 15 year fixed mortgage, the cost of lending is the cheapest we've ever seen. With each 1% increase in interest rates, you qualify for 10% less mortgage. Also, with prices back to where they were 10 years ago, housing is very affordable right now. You do not want to miss this opportunity to get into a home.

In the real estate market, if there is less than a 5 months supply of homes on the market, you are in a seller's market. A 5-7 month supply of homes is a balanced market. Anything over 7 months is a buyer's market. As you'll notice from the stats below, prices appear to have stabilized under 400K, however, there is still downward pressure on prices once you get above 400K.

 
ZIP Codes: 48103, 48104, 48105, 48108


Approximate Location Boundaries: Ann Arbor School District


Location Characteristics: Ann Arbor has many distinct neighborhoods that offer a variety of home buying opportunities. The area is a cultural Mecca with many performance centers and theaters, live music, dance groups, libraries, museums, parks, & farmer's markets. It is considered the education capital of the Midwest because it is home to the University of Michigan, one of the country's top universities. The Ann Arbor area offers one of the most varied menus of restaurants in the state with Main Street as one of Michigan's best places to eat, people watch and shop. In July, Ann Arbor is host to the Ann Arbor Art Fairs, which is among the nation's top street festivals and takes up nearly all of the downtown area. Artists and shoppers travel from all over the country to attend this yearly event. Ann Arbor is a great place to live!


For More Information:

• Visit My Web Site
• View My Newsletter
• Ask Me A Question

Thinking of relocating to one of America's top 50 cities?  If you live in Washtenaw County and are considering moving, let The Bouma Group help you find the perfect new home right here in Ann Arbor. Our real estate professionals are here to answer your questions, making your transition easy and painless.  An Ann Arbor condo may be the perfect choice; we've got everything you need to make an informed decision. Read what others have to say, then contact us. The Bouma Group can make your dream of living in one of America's top cities a reality!

One of Ann Arbor's cultural icons, the Blackbird Theatre, has established its permanent nest at the SH\'aut\ Cabaret and Gallery, 325 Braun Court in Kerrytown - right across from the Farmers Market. After a year of experimenting with various locations and after seven years at the Children's Creative Center on Pauline Boulevard,  the Blackbird has roosted in its new spot. Founding artistic director Barton Bund feels confident that the company will continue to grow and thrive in its new locale.


Last Tuesday evening, Bund's celebration of the Blackbird's new home also ushered in a new era of dynamic, cutting-edge artistic endeavor for downtown Ann Arbor. In addition to  consistently offering a diverse body of original work, the Blackbird offers free educational programs, and performance opportunities for all students in Washtenaw County. The Blackbird strives to bring students together with the area's most talented and established theatre veterans.


Keith Orr and Martin Contreras, owners of the SH\'aut\ Cabaret and Gallery, have hosted many Blackbird productions over the past several years. The permanent repositioning of the theatrical company to their venue was a natural move. Bund noted, "We love the new venue, and the atmosphere and culture of Kerrytown. It's a real locals' hangout, and the new venue opens us up for a lot of new possibilities. The last few years have been the most creative in our company's history, and the new venue gives us better access to the Ann Arbor community as a whole. This is a chance to share what we do with more people, in a comfortable new location."


In anticipation of the move, Blackbird suspended its 2009-2010 season., but at Tuesday's reception and tour of the company's new digs, Bund announced the Blackbird's upcoming season:

• "Women in Love,"  September 16 - October 16
• "Topdog/Underdog," October 28 - November 20
• The Raw Weekend II, December 2-4,
• "If Only in My Dreams," December 9 - 19
• "The Sleeping Giant," January 13 - February 6
• "Seascape" April 21 - May 21
• "The Tempest" June 2 - 25
• "Much Ado About Nothing" July 7 - 31

Ann Arbor has so much to offer, and Martin Bouma - your Ann Arbor neighborhood expert - can meet virtually all of your Ann Arbor real estate needs. Whether you're buying or selling a home, the Bouma Group can answer any questions you have about real estate in Ann Arbor. Interested in Washtenaw County, Saline, or a specific Ann Arbor neighborhood? Call the Bouma Group today! And don't forget to check out our Condo Hotline - we've got a handle on the Ann Arbor condominium market.

• printed, organized checklists;
• plenty of pens and markers;
• labels;
• packing tape;
• bubble wrap and/or packing paper for breakable items and, last but not least,

BOXES

As we head into the middle of the summer, the Ann Arbor real estate market has seen a 10% decrease in inventory from June to July. In the lower price points the drop is even more significant. There is a 16% drop in the 200K - 300K price range, and a 17% decrease in the 300-400K price range. Both of these price ranges are highly active. The main reason that we are seeing a decrease in inventory is the fact that home owners are locked into their current homes due to owing more than their house is worth.

The interesting thing to notice is that in spite of this decreasing inventory in the Ann Arbor Real Estate market, we are not really seeing much of an increase in pricing. There was a little bit of an increase in April as buyers were trying to take advantage of the Tax credit, however, now that has died down. I still like to let buyers know that this is probably one of the best times to buy a home. Prices are back to where they were 10 years ago, and the interest rates are at historical lows - in the 4.75% for a 30 year fixed. Keep in mind that a 1% increase in interest rates decreases your buying power by 10%. Expect a rash of activity in the next 2-3 weeks as buyers purchase a home to close before school starts. This will continue to lower the inventory as we head towards the end of the summer.

In the real estate market, if there is less than a 5 months supply of homes on the market, you are in a seller's market. A 5-7 month supply of homes is a balanced market. Anything over 7 months is a buyer's market. As you'll notice from the stats below, prices appear to have stabilized under 400K, however, there is still downward pressure on prices once you get above 400K.

ANN ARBOR REAL ESTATE MARKET, JULY, 2010

   ZIP Codes: 48103, 48104, 48105, 48108

Approximate Location Boundaries: Ann Arbor School District

Location Characteristics: Ann Arbor has many distinct neighborhoods that offer a variety of home buying opportunities. The area is a cultural Mecca with many performance centers and theaters, live music, dance groups, libraries, museums, parks, & farmer's markets. It is considered the education capital of the Midwest because it is home to the University of Michigan, one of the country's top universities. The Ann Arbor area offers one of the most varied menus of restaurants in the state with Main Street as one of Michigan's best places to eat, people watch and shop. In July, Ann Arbor is host to the Ann Arbor Art Fairs, which is among the nation's top street festivals and takes up nearly all of the downtown area. Artists and shoppers travel from all over the country to attend this yearly event. Ann Arbor is a great place to live!

Thinking of relocating to one of America's top 50 cities?  If you live in Washtenaw County and are considering moving, let The Bouma Group help you find the perfect new home right here in Ann Arbor. Our real estate professionals are here to answer your questions, making your transition easy and painless.  An Ann Arbor condo may be the perfect choice; we've got everything you need to make an informed decision. Read what others have to say, then contact us. The Bouma Group can make your dream of living in one of America's top cities a reality!