Real Estate Information Archive

Home prices are back to 2003 levels in the latest sign of an improved housing market.

 In another sign of a turnaround in the long-battered real estate market, average home prices rebounded in July to the same level as they were nine years ago.  Ann Arbor and Saline are now in their fourth year showing modest annual appreciation gains.  

According to the closely watched S&P/Case-Shiller national Home Price index, which covers more than 80% of the housing market in the United States, the typical property price in July rose 1.6% compared to the previous month.

It marked the third straight month that prices in all 20 major markets followed by this index improved, and it would have been the fourth straight month of improvement across the full spectrum if not for the slight decline in Detroit in April.

The index was up 1.2% compared to a year earlier, an improvement from the year-over-year change reported for June. While home prices have been showing a sequential change in recent months, it wasn't until June that prices were higher than a year earlier.

The July reading matched levels last seen in summer 2003, when the market was marching toward its peak in 2006. The collapse of the market after that led to the financial crisis of 2008.

"The news on home prices in this report confirm recent good news about housing," said David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. "Single-family housing starts are well ahead of last year's pace, existing home sales are up, and the inventory of homes for sale is down and foreclosure activity is slowing."

Record low mortgage rates and a tighter supply of homes available for sale have helped to lift home prices which starts in the stronger markets and then will follow to their surrounding communities as time progresses. Lower unemployment also has helped with home prices, although job growth in recent months has been slower than hoped.

Earlier this month, the Federal Reserve announced it would buy $40 billion in mortgage bonds a month for the foreseeable future. This third round of asset purchases by the central bank, popularly known as QE3, is its effort to jump start the economy through even lower home loan rates.

Related: Best home deals in Best Places

Mike Larson, real estate analyst with Weiss Research, has stated that part of the improvement in the housing market is due to investors using the low mortgage rates to buy up homes that are in foreclosure and renting them in a strong rental market.

But he said that he doesn't think there's much chance of housing prices forming any kind of new bubble in the foreseeable future.

"Clearly the worst is behind us for this market., but this is not a market that is going to take off again," he said. "While you have a firming up, you still have tight lending standards and people who have been burned are reluctant or unable to get back in the market." He predicts it will take several more years before housing prices can gain more than 1% to 2% a year.

Related: Buy or rent? 10 major cities

But that is good news for a housing market that was plagued by plunging home values and high foreclosure rates for much of the last six years. And the good news has the potential to build on itself, said Joseph LaVorgna, chief U.S. economist for Deutsche Bank.

"Housing remains a rare bright spot in an economy that is otherwise muddling through," he wrote in a note to clients Tuesday. "The price trend for housing is significant, because it provides economic stimulus via stronger household balance sheets."

2 Acre Home Close to the Village of Saline

New Listing: Cute home located in Award Winning Saline School District that has been completely updated.  The home has a newer, larger garage and updated electrical, plumbing and High Efficient Furnace and Water Heater. This home sits on two partly wooded acres and is a must see for those wanting to located within this school district at an affordable price.  Check out the virtual walk through below.

Please call for a showing appointment today.  View additional information and photos on this listings located at 10708 Saline Milan Rd., Milan, MI here.

View other Saline Homes for Sale by clicking here.

​10708 Saline Milan Rd. 10708 Milan Saline Rd., Milan, MI 48160.  Tom Stachler homes for sale in Saline Michigan. Properties for Sale, Saline MI.  Saline School District. real estate for sale

The Ann Arbor Hands-On Museum is a terrific place for kids (of all ages) to learn amazing things about science, math and technology. Their vision is “to be the leader in imaginative and interactive learning experiences” and they bring technology, science and math to life in amazing ways.

Since 1978, when Cynthia Yao and team of energetic volunteers converted an old brick firehouse into the Hands-On Museum, it has offered an incredible array of exciting educational programs. The Museum offers nine specialized galleries with over 250 interactive exhibits. Whether the subject is nature, physics, health, math or something else, hands-on learning is fun for everyone.

The Hands-On Museum also offers marvelous special programs like the ability to host a birthday party or to participate in a Camp-In. Use this link to explore the array of special programs at the Hands-On Museum.

Here are some of the Museum’s regular, new and science exhibits (a partial list only – see the museum website for the complete details):

First Floor Concourse – Visitors love the “Building in a Building,” the tornado and the water table.

All About You – Learn amazing facts about the human body. Examine your own fitness, step into a full-size ambulance or check out X-rays.

World Around You – Climb a rock wall, enjoy a walk-on piano and the magnet exhibits.

Light and Optics – Learn about light and optics by playing the stringless Laser Harp.

Michigan Nature – In this Discovery Room you’ll discover Michigan’s native plans, flowers and animals through the interactive nature wall, a soundscape and samples of lake fish and geology.

Preschool Gallery – Designed for children 4 or younger, this gallery let’s kids

New Exhibits

Ferrofluid Magnetoscope by Michael Flynn – This exhibit employs a magnetic field to make three-dimensional patterns in ferrofluid — a special liquid holding evenly dispersed ferromagnetic particles dissolved in an organic solvent. Using handles to move the magnets up and down, visitors can watch the shape of the liquid change.

Chaos Chimes – These celebrate the intersection of art and science by using musical chimes to demonstrate chaos theory in mathematics. Designed by Roger Sonntag, an engineer, artist and science exhibit developer, Chaos Chimes are similar to traditional wind chimes but are feature a motorized mallet which sounds the chimes unpredictably.

Engineers On A Roll – Funded by Toyota Technical Center, this is a combined engineering lab, playscape and climber for preschoolers. Using bright colors and keeping kids constantly active, the Museum’s youngest visitors will enjoy directing, sorting, and experimenting with balls in motion.

Block Party – Hundreds of foam bricks are the building blocks to stimulate the imagination. The Block Party inspires creativity in architecture and construction. This new 1,600 square foot exhibit allows kids to imagine, build, and then knock it all down. Kids can work together on large structures and have a blast.

ViewSpace Exhibit from NASA – This is a unique exhibit which allows visitors to see the newest and the best-quality images from NASA’s Hubble Space Telescope and the James Webb Space Telescope, its successor. ViewSpace uses current Internet feeds from the Space Telescope Science Institute. Daily updates include amazing visual explorations of astronomical subjects, updates from Mars Exploration Rovers, the Saturn orbiter and the Titan lander. It also introduces constellations, planets, deep sky objects, and much more.

The Egg of Columbus – This exhibit illustrates how AC electric motors work. For the 1893 World’s Fair, Nikola Tesla invented the Egg of Columbus, and this is certainly an electrifying exhibit not to be missed!

Bernoulli Blast at Pittsfield Branch of Library – An exhibit demonstrating Bernoulli’s Principle is on display at the Pittsfield branch of the Ann Arbor District Library. Designed exclusively for the library, this unique exhibit is over 15 feet tall and sends balls upwards on a column of air and then swirl down a steel sculpture to start once more.

Energy Exhibits

Waste 2 Watts – This exhibit demonstrates how environmentally friendly technology can make electricity from trash. This intriguing exhibit demonstrates how methane gas from landfills can be used for alternative energy which can hopefully reduce our need for other fuels.

Solar Collector

Partnering with a neighboring fire station, this exhibit explains the function of a solar hot water heater and monitors the input and output temperatures of the fire station's solar water heater.

The Hands-On Museum presents special programs each year including Hands on Holidays and Tech Twilight.

To see the current calendar of activities click here.

Here is the Hands-On Museum’s calendar:

Admission Prices: Members enter free; $10/person Ages 2 and Up; free for babies under two. ACM Reciprocal Program members visit free.

Explore becoming a member of the Ann Arbor Hands-On Museum. Family memberships are $75 while the family-plus membership is $100.

For additional information, see the Hand-On Museum’s Facebook page.

GREAT NEW LISTING IN DEXTER MICHIGAN

For those who appreciate the finest in workmanship and materials.  This Stone and Cedar Home is a must see sporting the finest in fixtures, appliances and mechanicals features.  Easy access to the Village of Dexter, US-23 or I-94 and just 15-20 minutes to Ann Arbor.

• Finished Walk Out Basement
• Built by Award Winning Builder/Architect Christian Tennant
• 2 Acre Lots with Wooded Private Views
• Automatic Built in Back up Natural Gas Generator System
• Hardwood and Stone Floors
• 3 Fireplaces, 5 Bedrooms and 4.5 Baths
• Copper Gutters and Chimney Caps
• Custom Alderwood Garage and entrance doors
• Marvin Windows
• 3.5 Car Garage
• Spectacular Professional Landscaping and Irrigation systems
• Two Laundry Stations
• Hardwood Staircase
• Invisible Pet Fencing
• Concrete Driveway
• 1st Floor Master Suite
• Every Bedroom with Direct Bath Access
• Cedar Deck and Custom Patio Flat Work
• 5000 Total Finished Square Feet

Call today for a showing appointment.  Click here for More information on this Dexter Michigan Home for Sale.

Tom Stachler provides professional buyer representative services and listing opportunities.  Visit the rest of this website for more real estate resources, programs and tools.  Please call us for recommendations today.

On June 27, Barracuda Networks, headquartered in Campbell, California, made two big announcements that will bring great benefit to Ann Arbor. The information security company unveiled a plan to expand its local workforce by about 184 new employees (adding to its current staff of 180), and Barracuda also said it will relocate from 201 Depot Street to the space formerly occupied by Borders bookstore.

Over three years, as it moves to 317 Maynard in downtown Ann Arbor, Barracuda anticipates adding 184 high-tech and engineering jobs and it plans to invest between $6 million and $7 million. This is one of the biggest commercial leases in recent Ann Arbor history. Barracuda will occupy the rear portion of the building that also previously housed Borders’ East Liberty Street store, which is owned by First Martin Corporation.

Barracuda looked at about 100 possible venues, but the downtown Ann Arbor building was the most appealing. Ann Arbor SPARK and the Ann Arbor office of Colliers International worked with Barracuda to find the right location.

John Teeter, property manager at First Martin, indicated that renovations would be underway in early July to transform the former Borders Books space into an appealing, high-tech office space. Plans call for Barracuda to move in this fall.

The project includes remodeling the façade, adding windows along the Maynard Street frontage, and constructing a small engineering data center along with a training center, exercise facilities, and break rooms with games.

A key for Barracuda was the City of Ann Arbor’s offer to provide a 5-year tax abatement estimated to be worth $85,150, while the Michigan Economic Development Corporation also offered up to $1.2 million.

Michigan Gov. Rick Snyder said, "The expansion of Barracuda Networks demonstrates the importance of our strategy to help companies grow and flourish. This investment highlights the value of Michigan's highly competitive business climate and incredible workforce abilities for cutting-edge companies looking to expand."

According the company’s director of new product initiatives, Sean Heiney, Barracuda is now hiring about two employees per week. “Barracuda Networks continues to thrive, and Ann Arbor is critical to that success,” said Heiney. “We’re doubling down on our commitment to the region, bringing new and exciting jobs that are helping to shape our new economy. We’re extremely thrilled about our expansion and look forward to breathing new life into such an iconic space downtown.”

According to Barracuda, the company will be staffing positions including software engineers, systems administrators, user experience designers and quality assurance staff, among others. Heiney said Barracuda is hiring all types of different employees to work at the Ann Arbor office, including engineering, support, sales and customer service. Those interested in applying can visit http://www.barracudalabs.com/recruit/.

Barracuda’s move is obviously great news for the business community and Ann Arbor overall. When the community attracts well-paid, professional jobs it naturally carries over into other sectors, including restaurants, service businesses, real estate and many others.

It looks pretty likely that downtown Ann Arbor's future includes another new high-rise structure, most likely a residential building.

Last month, the office property at 413 E. Huron, zoned for high-density development, was sold by the Thomson Family Trust to Greenfield Partners, a real estate investment firm based in Connecticut.

Located between Sloan Plaza condos and Papa John’s Pizza, the 10,300-square-foot building and its parking lot has housed a varied series of tenants over the years. At one time it was an A&P market, later a Michigan Bell office and then office space for the University of Michigan. The property, which was constructed in 1930, sold for $4.5 million ($400 per square foot). It had been on the market at various times since 2007, when it was listed at $6 million.

Bruce Thomson and his wife, Linda, had considered renovating the site in 2008 with plans calling for total redevelopment of the building and construction of a 15,000-square-foot, two-story building next door. This project was slated to have seven luxury student apartments and eight retail stores but the downturn in the real estate market dealt a blow to the Thomson’s plans.

The 413 E. Huron property resides in the D1 zoning district which means it’s meant for mixed commercial/residential projects reaching a maximum height of 150 feet. According to Bruce Thomson on AnnArbor.com, “I assume it will end up a high-rise of some kind, but I don’t know what they will do. It’s zoned for high-density development, which is what makes sense, so I’m sure it will end up some kind of high-density development.” Ann Arbor’s downtown is currently experiencing a boom in housing construction, with six projects either being built or approved in the downtown area. These include The Varsity, Landmark, Ann Arbor City Apartments, Zaragon West, 318 South Main, and City Place.

Greenfield Partners (which does business as Ann Arbor Green Property Owner LLC) is privately owned. According to their company website, the firm majors on direct investment and development and redevelopment of properties among other activities including financial asset restructuring.

New Changes in the State of Michigan Homestead Exemption Filing Dates

Good News.  The Michigan Association of Realtors was instrumental in helping get this signed yesterday. The former deadline date of May 1st for your homestead exemption and discount on property taxes for Michigan property has been changed.  

See the information below regarding your Michigan Property tax homestead exemption and tax discount.

POPULAR YORK WOODS SUBDIVISION

GREAT SUMMER COMMUNITY AND PARCEL WITH YOUR OWN SANDY SPRING FED LAKE FOR KAYAKING AND SWIMMING. YOUR KIDS AND THEIR FRIENDS WILL LOVE THE COMMUNITY BEACH PLUS YOU HAVE YOUR OWN WOODS IN THE BACK COMPLETE WITH FIRE PIT AND CAMPSITE!

Home SITS ON 3.5 ACRES IN YORK TOWNSHIP! ENJOY LAKE & BEACH PRIVILEGES. TWO STORY GREAT ROOM LOOKS OUT ON WOODS. NATURAL MAPLE CUPBOARDS W/ BLACK GRANITE COUNTERTOPS. WALK-OUT BASEMENT IS FINISHED AND PLUMBED FOR A 3RD BATH.1ST FLOOR MASTR SUITE W/SUNKEN WHIRLPOOL TUB FOR 2.5 BEDROOMS & 2.5 BATHS. CERAMIC & HARDWOOD IN MAIN LEVEL. 3 CAR GARAGE & SPRINKLER SYSTEM.

• WALK OUT FINISHED BASEMENT
• 3.5 ACRES
• GRANITE COUNTERS
• MAPLE CABINETS
• CAMP SITE OUT BACK IN YOUR OWN WOODS
• LOW YORK TOWNSHIP TAXES
• CLOSE TO VILLAGE OF SALINE
• WORK OUT ROOM
• INVISIBLE FENCE FOR PETS
• 3 CAR GARAGE
• AWARD WINNING SALINE SCHOOLS
• 5 MINUTES FROM US 23 - I 94 EXPRESSWAY INTERSECTION
• GREAT SUMMER PLAY FOR KIDS WITH SPRING FED LAKE W/ COMMUNITY SANDY BEACH

Great Family home Close to schools and shopping and freeway access. COMMUTERS NOTE that this is only 5 minutes from the I94-US23 expressway interchange so for those heading east, you AVOID THE ANN ARBOR BACKUPS at State Street and Ann Arbor Saline Roads.

Hurry this one won't last long. Contact us today with any showing requests or questions. Note contact options below.

Tom Stachler lives in Saline Michigan and can answer any question you might have about the area.  Please look for additional Saline Real Estate for Sale by clicking on the All MLS LISTINGS link above in the website header or contact Tom below for further assistance or showing appointment. 

Looking for a Property that is Just a 60 Second Walk to Downtown Plymouth Michigan ?

You can't miss with this one.  Check out the property Video Below.

More Details on this property can be found here.

http://www.therealtytour.com/Property/968-Penniman-Plymouth-Michigan