Michigan Economics Report posted from Ann Arbor University of Michigan, used by top REALTOR

Saturday, November 22, 2008

by Ann Arbor Real Estate Experts

U-M Economists forecast more job loss for state

One of the puzzle pieces I look forward to is George Fulton’s economic report which was posted on November 21, 2008. You can see the Michigan economic update here. Doctor Fulton is a nationally respected economics professor at University of Michigan. The bottom line in the report is job loss continues in 2009 along with dropping disposable income. OK. Well, now we have this input and other crystal ball indicators to help plan our Ann Arbor real estate market activities. Try this interactive US housing pricing map posted by National City. You can float your mouse over Ann Arbor to get the median price and over/under valuation per economist Richard DeKaser.

What else do we use to keep our sellers on target to get results – selling their Ann Arbor home for the highest price, in the least amount of time, with the least amount of hassle? Clients always ask, “When and/or should I list my Ann Arbor home?” To answer this, we use the above report as part of the data to assess outcomes. Another source is tracking and graphing our area statistics from the Ann Arbor Area Board of Realtors. This also includes computing average sale price for areas, homes sold, using weighted average calculations, listing inventory, absorption rates, price per square foot, average price per square foot and corresponding trends. I also use the 2008 National Association of REALTORS Home Buyer and Seller Reports as well as my mentor and author friend Stefan Swanepeol’s Trends Report, coming out in December. Each client and situation is different.

Each person has a different risk threshold and motivation. Understanding and knowing our Washtenaw County real estate clients’ motivation allows us to determine the best choice for each Ann Arbor seller. We understand that your money and your life are affected by this and take this very seriously. Hopefully my Masters in Business Administration from Eastern Michigan University proves useful to our clients.