2008 Ann Arbor Real Estate Sales Report

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Slide 1: 

Ann Arbor Michigan Real Estate 2008 Annual Report

The “Big” House : 

The “Big” House

Reasons for Optimism : 

Reasons for Optimism U. of Michigan Purchase of Pfizer Facility 5,000 New Jobs in County in Next 2 Yrs. Washtenaw Most Solid County in State, will be the First to Rebound. Many Small and Growing Biotech, Healthcare, and Internet Firms.

Ann Arbor SFH Sales in Units -21.1% Since 2005 : 

Ann Arbor SFH Sales in Units -21.1% Since 2005

SFH Average Sales Price (County) -19.7% Since 2005 : 

SFH Average Sales Price (County) -19.7% Since 2005

Ann Arbor Area SFH Avg. Sales Price -15.4% Since 2005 : 

Ann Arbor Area SFH Avg. Sales Price -15.4% Since 2005

Washtenaw County Foreclosures : 

Washtenaw County Foreclosures

Historic Home Sale Distribution : 

Historic Home Sale Distribution Traditional = 90.5%

Current Home Sale Distribution : 

Current Home Sale Distribution Bank Owned, Lease & Short Sales = 84%

How This Impacts Your Homes Value : 

How This Impacts Your Homes Value Bank Owners in “Fire Sale” Mode. Houses sell at below market value. Appraisers appraise based on sales price, they no longer separate out foreclosure/ non-foreclosure sales. Below market sales pulls down all values

What This Means for 2009 : 

What This Means for 2009 Your homes value is 20% less than it was 2 years ago. There will be more foreclosures in your neighborhood. If you don’t have to sell, don’t sell If you want to buy, buy.

Bundesen Team : 

Bundesen Team Your “Go To” Team Help You Sell Help You Buy Answer ANY Questions We love Referrals

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