The good news about that - There are now families occupying the homes and less homes on the market in my neighborhood. The bad news, and mostly the news I am trying to ignore - The price drops in these Ypsilanti Township properties is staggering.
The Ann Arbor board of Realtors just announced that in Washtenaw County, home sale prices have declined an average of 40 percent in the first quarter of 2009 compared to 2008. Yes, yes that's right 40 PERCENT! (This is where I have to stop and grab my paper bag to breathe into...) It's a pretty steep decline, that's for sure.
Home sale prices haven't actually appreciated in Washtenaw County year-over-year since 2005! This is mostly this is due to the high foreclosure rate and short sales, but also due to the newly released federal economic stimulus bill that gives an $8,000 tax credit to first-time home buyers boosts home sales in the lower price range.
So while I adjust to this new reality AT LEAST I know these homes sales are someones gain, and as I watch the SOLD signs popping up all over, I simply have to take a deep breath and remember this William Arthur Ward quote I recently read:
The pessimist complains about the wind;
The optimist expects it to change;
And the realist adjusts the sails.
If you have any real estate questions or would like to view available homes for sale in Ann Arbor, Chelsea, Dexter, Plymouth/Canton, Saline or Ypsilanti the Wickland Group can address your needs. Our experienced team of Realtors, marketers and support staff are here to help you by taking all of the stress out of your home buying or home selling experience!
by Tammy Mayrend
Posts
