1. Do You Have Enough Money Saved for a Down Payment?

    One of the biggest misconceptions for first-time condo or home buyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a condo or house. Here’s how it breaks down. A recent survey by Point2Homes mentions that 74% of millennials… read more

  2. Ann Arbor Condo Report – August 2020

    More Inventory for Both Listings and Sales Ann Arbor condos saw an increase in new and sold inventory this August. New listings were up 14.5% at 71 condos, and this is in comparison to the 62 last August. The average listing price for these condos was $269,522, versus $362,526 before, down 25.7%. A total of… read more

  3. Millennials Are Increasing the Demand for Condominiums

    When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium! According to CoreLogic, “Last year about 43% of all condo home-purchase mortgage applications were submitted… read more

  4. Ann Arbor Condo Report – July 2020

    Comparable Inventory for Ann Arbor Condos Besides year-to-date sales, all other inventory for Ann Arbor condos have remained stable. July saw 108 new units hit the market, a 4.9% increase from the 103 last July. The amount of sold condos experienced a decline of 4.8%, from 83 to 79 this past month. As for the… read more

  5. Guidance and Support Are Key When Buying Your First Condo or Home

    In June, the number of first-time homebuyers accounted for 35% of the existing sales, a trend that’s been building steadily throughout the year. According to the National Association of Realtors (NAR): “The share of first-time buyers increased in March through June—right into the heart of the pandemic period and the surge in unemployment—and is now trending… read more

  6. Ann Arbor Condo Report – June 2020

    Listed and Sold Inventory Remain Balanced With the start of summer, the inventory for Ann Arbor condos have maintained their balance. Last June, 68 condos were both listed and sold, and although there was a 14.7% decline on the whole this June, 58 condos were listed and were also sold. The average listing price has… read more

  7. What Are the Experts Saying About Future Condo Prices?

    A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting prices has become extremely difficult. Normally, there’s a simple formula to determine the future price of any item: calculate the supply of that… read more

  8. Condo Buying Has Gone Virtual!

    Today’s everyday reality is pretty different than it looked just a few weeks ago. We’re learning how to do a lot of things in new ways, from how we work remotely to how we engage with our friends and neighbors. Almost everything right now is shifting to a virtual format. One of the big changes… read more

  9. What If I Need to Sell My Home or Condo Now? What Can I Do?

    Every day that passes, people have a need to buy and sell condos and homes. That doesn’t stop during the current pandemic. If you’ve had a major life change recently, whether with your job or your family situation, you may be in a position where you need to sell – and fast. While you probably… read more

  10. Ann Arbor Condo Report – February 2020

    Lower Prices for Ann Arbor Complexes In the month of February, Ann Arbor condo units experienced lower prices overall. The average listing price decreased slightly by 3% from $361,306 to $350,632. More listings were entered this past month though, last February had 43 while most recently 52 condos were added, a 21% increase. As for… read more