From cultural to educational to employment opportunities, Ann Arbor, Michigan offers residents enough to keep a strong real estate economy going, say local Realtors.
"Ann Arbor is a small 'large city,' with all the culture and amenities a large metropolitan area but minus the overcrowding and hectic lifestyle," says Realtor Susan Fecteau. "It's not just a college town but a multifaceted community that is hard to resist once you've been here."
She explains, "Ann Arbor was settled in 1824 along the Huron River and now boasts a wide-ranging collection of neighborhood and community parks, nature trails, recreational facilities. The cultural opportunities range from world-class productions to neighborhood theater, from major symphonies to talented local musicians. Mix this with the area's restaurant/bar boom and you never have to ask yourself what to do next. Sports fans can enjoy the varsity offerings of two major universities: EMU and the University of Michigan boasting the largest college football stadium in the country. Art enthusiasts will enjoy the various street fairs and winter art fairs of Ann Arbor which attract artists and shoppers from around the world. This being so, the area has become the home of many art galleries and shops for year-round original art-hunting."
Advises Fecteau, "The weather may not be sunny and bright, but the Ann Arbor housing market certainly is. If the economy is bad, no one told home buyers in this area as they are out in large numbers. Ann Arbor is still the town people are drawn to with it's quaint downtown shopping district and eclectic population, and cultural diversity. Prices have remained unchanged and this should help to keep the market full of great deals!"
Realtor Jackie Wright offers, "Tree-lined streets, a vibrant downtown, fantastic restaurants, whatever you're looking for is in A2. Music, theater and art offerings are exemplary. There are some gorgeous new downtown condominiums - just like The Big Apple!"
Wright adds, "Central Ann Arbor remains very strong with listings in the Old West Side, Burns Park, campus area selling quickly. This assumes that they're priced correctly. Overpriced listings, even in these "hot" areas, are waiting for suitors. Some of the new developments are selling like "hot cakes", even in the $600K + price range. Everyone wants new and glitzy and they're willing to pay for it. If a home doesn't compete with that, it's time to add granite countertops and hardwood floors. It's not difficult, not terribly expensive and makes a world of difference.
"On the other hand, buyers can perhaps strike a very good deal for a home that needs only some pizzazz. Do you know how easy it is to add crown moldings and Gaggenau ranges? If you've ever thought of upgrading to a larger home, today's interest rates make it a very savvy move. The Ann Arbor area is experiencing growth and has for years provided sound real estate investment opportunities."
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Published: June 5, 2003
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