Homes for Sale in Ann Arbor Michigan
By Dan Ho
Homes for sale in Ann Arbor, Michigan, the county seat of Washtenaw County, come in all sizes, shapes, colors and prices. Prices start at under $100k for older properties, condominiums and “pre-foreclosures” and top out at $20 million for a 120 acre “sanctuary”.
Architectural styles range from classic to modern, ranch to Nantucket. With one district listed on the National Register of Historic Places, there is truly something for everyone in the Ann Arbor homes for sale listings.
The land comprising Ann Arbor was originally purchased from the federal government for $800 by speculators John Allen and Elisha Rumsey in 1824. Needless to say, property values have increased dramatically since that time.
The story goes that John and Elisha both had wives named Ann and that the original “arbor” consisted primarily of burr oak. The city has strived to remain true to its “Tree Town” nickname, preserving numerous acres for parks and recreation areas. Some say that there are nearly as many trees as residents in Ann Arbor.
Founded in 1824, incorporated as a village in 1833 and chartered as a city in 1851, Ann Arbor has a long and interesting history. Originally, the founders had hoped that their village would become the state capital, even setting aside forty acres of land for the purpose. But, when Lansing was selected in 1836, the land was donated to the University of Michigan, beginning Ann Arbor s history as a “college town”.
The original 40 acre donation is now part of the Central Campus, one of the three residence halls at the university. Even with the sixth-largest campus housing system in the United States, there is still a large market for off-campus housing, primarily in the form of condos and lofts. Advertising in the Ann Arbor homes for sale listings often targets graduate students, research assistants, faculty and their families, by relating the location of the house to the university.
With undergraduate programs ranging from literature to engineering, one of the largest research facilities in the country and numerous popular athletic teams, the University of Michigan attracts both people and employers to the area. Employers are attracted by the students. Likewise, students often stay in the area, because of the employers. Some stay to complete graduate programs. Others find careers at the university, which provides about 30,000 jobs to Ann Arbor residents. The resident population is continuously growing.
Buyers and investors may see a large number of properties coming on the market over the next two years. Pfizer, the city s second largest employer, announced in January 2007 that it would be closing the large research facility located there by the end of 2008.
Lay-offs and other changes in the automotive industry may also cause an increase in the number of homes for sale in Ann Arbor, Michigan, although the impact will likely be less dramatic than in other parts of the state, since new employers are constantly moving in. Google recently announced plans to open an office employing around 1000 people.
The number of Ann Arbor homes for sale is constantly changing. At the time of this writing, one popular realtor had over 350 listings for the area. Efforts by the city government to control “urban sprawl” has meant less new building and fewer new homes than in some areas. Newly built homes account for less than 10% of total listings.
Disturbingly, there are more than 50 homes in pre-foreclosure status in Washtenaw County.
Foreclosure can severely damage credit ratings.
Sometimes, there are alternatives for these owners willing to work with potential buyers on lease option agreements.
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In fact, there are simple, but creative solutions for all buyers and options for any seller that is frustrated with seeing the for sale sign in the front yard for months on end. There is a buyer out there for every one of the homes for sale in Ann Arbor, Michigan.
Buy-Sell-Michigan-Real-Estate.com are real estate investors who can help find motivated buyers a home if they can t get traditional financing and help motivated sellers sell their homes on terms or for cash.
Dan Ho is a real estate investor in Michigan. Visit http://www.buy-sell-michigan-real-estate.com/ now to learn about selling or buying rent to own homes in Ann Arbor. Homes for sale in Ann Arbor Michigan and motivated FSBO s.
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