Thursday, May 7, 2009

Finally, Some Real Estate News Worth Blogging About

A tip of the cap goes to reporter Paula Gardner of the Michigan Business Review and her article yesterday about the encouraging turn-around in Ann Arbor Real Estate for the month of April 2009.

With the average home sales price in virtual free-fall for the past 2 years plus, many buyers understandably had stayed on the sidelines. On the front lines in Ann Arbor in the past 8 weeks or so, it feels as if this log-jam has broken, and buyers have taken the plunge. Many local brokers and agents are reporting a huge spike in sales, with multiple offers on many properties, and homes selling within days of coming on the market. Within the past few weeks, we sold one of our listings the first day it was on the market, worked with one buyer who made an offer on another home the first day it was on the market, and worked with another buyer who missed out on a house that sold the first day it was on the market.

We know that this time of year is always the peak of the annual market, but we are certainly happy to see it here, and see that buyers have plunged in and have heeded the message that now is a great time to buy, and that they will never be able to actually time the bottom of the market.

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