1. More Young People Are Buying Condos and Homes

    There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief. Odeta Kushi, Deputy Chief Economist for First American, explains why millennials have put off certain milestones linked to homeownership. Those delays led to their… read more

  2. Owning Is More Affordable than Renting in the Majority of the Country

    If you were thinking about buying a condo or home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country. The 2022 Rental Affordability Report says: “. . . Owning… read more

  3. Here’s Why You Shouldn’t Wait Any Longer to Invest in Real Estate

    Key Takeaways: Even as home prices continue to climb, there’s never been a better time to get your foot in the door when it comes to real estate investing. You don’t need a lot of money to diversify your portfolio—in fact, you have more options than you might think! Whether you’re an experienced investor or… read more

  4. How Much Do You Need for Your Down Payment?

    As you set out on your home or condo buying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment? If you think you have to put 20% down, you may have set your goal based… read more

  5. 4 Things Every Renter Needs To Consider

    As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a condo or home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider. Here are a few things you should think about before… read more

  6. What Do Supply and Demand Tell Us About Today’s Housing Market?

    There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is… read more

  7. Two Reasons Why Waiting a Year To Buy Could Cost You

    If you’re a renter with a desire to become a homeowner or a homeowner who’s decided your current place no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a condo or home. To determine if you should buy now or wait, you need to… read more

  8. Ann Arbor Condo Report – August 2021

    Approximately 20% Increase in Average Sales Price Both monthly and year-to-date statistics saw a decent increase in the average sale price. In the month of August, Ann Arbor condos had an ASP of $312,212, which was a 24.9% increase from the ASP of $250,020 last August. As well, closed sales rose 10.1% from 69 to… read more

  9. Ann Arbor Condo Report – July 2021

    Listings Remain Hot with a Decline in Inventory For the first time in a few months, there has been a decrease in the amount of new inventory added to the Ann Arbor condo market; 89 units were listed, and this was a 19.8% difference from the 111 last July. Sellers will be pleased to know… read more

  10. Ann Arbor Condo Report – June 2021

    Sale Prices Continue to Climb Two things moved up this past month for Ann Arbor condos, new inventory and the average sale price. June saw a total of 125 new condos added to the market, a 27.6% change from the 98 the previous June. There was a very minimal decline in the amount of sold… read more