Ann Arbor Makes Several “Best of” Lists in 2010

It is rare for a city to be one of the best places to raise a family and retire in, as well as one of the top cities for single people to live in. From sporting events and entertainment to shopping and dining, Ann Arbor has it all! The diversity of Ann Arbor is one of the many reasons that make this community a great place to live, work and play.

Ann Arbor was recognized nationally on several “Best of” Lists in 2010 including:

Forbes.com: Top College Sports Towns – #1
For the second year in a row Ann Arbor topped their list. Forbes.com cited that the Big House “still rocks every Saturday despite the recent struggles of the football team.”

Portfolio.com: America’s Top 25 Most Educated Cities – #2
Portfolio.com gave Ann Arbor a Brainpower index of 3.228, well ahead of the number 3 Washington D.C., citing that over 75% of Ann Arbor’s population attended college.

Midwest Living: Top Midwest Food Towns – #3
Midwest Living states that Ann Arbor retains the college-town vibe, but has a grown up dining scene with restaurants such as Zingerman’s, Vinology, Logan and Gratzi.

The Daily Beast: Best City for College Grads – #3
Ann Arbor was recognized as being home to several research institutions, making it a great place to find a job. The Daily Beast also noted that Google “saw the value in Ann Arbor, making the city the main headquarters of its Adwords program.”

Forbes.com: America’s Most Livable Cities – #4
According to Forbes, the key to finding the easiest places to live is to follow the students. Several metropolitan areas on their list were college towns, including Ann Arbor home to the University of Michigan.

Parenting Magazine: Best Cities for Families – #4
Parenting Magazine recognized Ann Arbor for being a green city as well as being one of the best cities for walking. Ann Arbor Hands-On Museum was also recognized as a great place for families.

e.Republic.com: Top Digital Cities – #6
The use of information technology by local governments was the primary focus of the survey. Several online initiatives of the City of Ann Arbor were recognized such as launching an open data catalog and creating online payment for water bills.

CNNMoney.com: 25 Best Places to Retire – #11
Despite Ann Arbor’s cold winter months, CNNMoney.com noted that Ann Arbor has one of the highest doctor-to-patient ratios in the country.

Bicycling Magazine: America’s Top 50 Bike Friendly Cities – #14
Ann Arbor was recognized by Bicycling Magazine for having miles of bike lanes as well as ample bike racks.

CNNMoney.com: Top 25 Hottest Spots for the Rich and Single – #21
CNNMoney.com states that Ann Arbor has more to offer then just football including Borders, the Hands-On Museum and local microbreweries such as Arbor Brewing Co.

CNNMoney.com: Best Places to Live in America – #46
CNNMoney.com describes Ann Arbor as a “friendly college town” with all the “perks of a much bigger city,” highlighting the arts and culture of downtown Ann Arbor.

Cost vs Value – Ann Arbor Real Estate

Ann Arbor Real Estate
It’s a Price War and a Beauty Contest
Why some homes command Top Dollar
To us, US News and World Report’s statement about Ann Arbor  “This verdant city forty miles west of Detroit is one of the most pleasant and prosperous in Michigan” seems a bit of an understatement. (see link below)
Ann Arbor traditionally has one of the most stable economies in Michigan, with Real Estate and home resale values holding more firmly than any place else in South Eastern Michigan.

We’re frequently asked, “What are the best investments to increase the value of my Ann Arbor home?”
Well, that is an interesting question, and we answer it in a couple of ways 
The Yes Factor
 We tell folks that there are four things that almost all of us look for (and are attracted to) in an Ann Arbor area home –

• lots of natural light,
• lots of gleaming hardwood flooring
• cool  kitchens – preferably solid surface counters, stainless steel appliances and warm, natural wood cabinets

and

• generous master bath/walk-in closet.

 Sometimes those things don’t appear to pay off directly in cost vs value calculations, but they certainly do increase the “Yes” Factor in Buyers decisions of which home to make a serious offer.
Maximum Bang for the Remodeling Buck
 
Remodeling magazine’s 2010-11 Cost vs Value Report is out and has been summarized in the January, 2011 issue of Realtor magazine.

Here are their Top Five rated investments for getting the most from your Remodeling Dollars
1) Who’s that knocking at my door?
Front Door Replacement:    Cost $1,218   Resale Value $1,243   Cost Recouped 102.1%
2) Who’s that knocking at my (Garage) door?
Garage Door Replacement: Cost $1,291   Resale Value $1,083   Cost Recouped 83.9%
3)   Siding Replacement:          Cost $13,382   Resale Value $10,707   Cost Recouped 80.0%
4)   Kitchen Remodel (minor): Cost $21,695   Resale Value $15,790   Cost Recouped 72.8%
5)   Deck Addition:               Cost $10,973   Resale Value $7,986     Cost Recouped 72.8%
For the complete report, and more detailed information go to www.costvsvalue.com      

US News  http://money.usnews.com/money/retirement/best-places-to-retire/michigan/ann_arbor

Ann Arbor – attracting talented people and companies

Locally, we’ve known for a long time that Ann Arbor and surrounding communities were blessed by charming downtown areas, beautiful country-side, lakes, rivers, and, oh yes, the Ann Arbor campuses of the University of Michigan. Now columnist, Tom Walsh has given us some more food for thought, and optimism about our community. In a Detroit Free Press article of  10-10-2010, Mr. Walsh cites a variety of influential people and companies who have selected Ann Arbor as their base of operations.

One excerpt from the article, “Lou Glazer, president of the Michigan Future think tank, says 80% of all jobs being created in the U.S. economy are so-called knowledge jobs that require higher education and skill levels. ‘If place matters, and it does, in attracting talented young professionals, Ann Arbor is the leading edge of such places in the state,’ Glazer said.”

For the complete article go to  http://www.freep.com/article/20101010/COL06/10100546/Ann-Arbor-becomes-center-of-power

3 Michigan Cities – Best Housing Values in America

Oct. 6, 2009  NBC Today Show       Al Roker talks to real estate guru Barbara Corcoran about cities where home buyers can get the biggest bang for the buck.

Among Ms. Corcoran’s top ten cities for hot deals are #1, Sarasota, #2, San Francisco … and three Michigan cities, Lansing, Grand Rapids and Saginaw.

The primary reason these cities made the list for great values is that reported median home prices have dropped so low, that the only way to go is UP!

And right now, even a little blip up, is good!       

For the entire six minute segment, check out the link below: (After a 30 second commercial, sorry)

 http://today.msnbc.msn.com/id/26184891/vp/33191501#33191501

Here’s the list:

1. Sarasota, Fla

2. San Francisco, Ca

3. Lansing, Michigan

4. Marietta, Ga

5. Grand Rapids, Michigan

6. St Petersburg, Fla

7. Naperville, Il

8. Trenton, NJ

9. St Louis, M0

10. Saginaw, Michigan

Main St – Ann Arbor – Top Ten Streets in America

We’ve been telling people for years!  Now it’s official. Ann Arbor’s  Main Street has been designated one of the great downtown streets in the United States.  The American Planning Association’s Great Places in America have been announced (10/6/09)  for 2009.  APA Great Places are named annually.  The Top 10 categories include: Great Streets, Great Neighborhoods, and Great Public Places.  Michigan was this year’s only state with two streets named to the Great Places list.  Traverse City’s Front St made the list as well.    GO BLUE!

http://www.planning.org/greatplaces/streets/2009/index.htm

Ann Arbor, Michigan

Protected Historic District 

• The Main Street Historic District, adopted by the City Council in 1989, protects all of the historic buildings on the street, which represent approximately 80 percent of the buildings (more than 40 properties) along the three blocks
• Historic, 19th and early 20th Century buildings fronting Main Street are well preserved and represent façades from various styles including Commercial, Italianate, Beaux Arts, Moderne and Art Deco.
• The First National Bank Building, which is listed on the National Register of Historic Places, is an Art Deco building that was the tallest building in Ann Arbor at the time of its construction.

Commitment to Planning and Compatible Development

• In 1824, town founders Elisha Rumsey and John Allen purchased 640 acres of land and register the town plat; central business district develops along Main Street and around courthouse square
• City approves Downtown Development Authority, a tax increment finance district, in 1982 to fund streetscape and infrastructure improvements including parking structures; reauthorized in 2003, Authority now develops and supports transportation alternatives and sustainability initiatives
• City now updating 1988 Downtown Plan to emphasize Smart Growth initiatives, increased downtown density, and greater use of transportation alternatives
• Two- to four-story buildings are oriented to the street with zero setbacks, architectural details and transparent first floors; similar height of first floors creates a sense of visual continuity

Smart Growth Emphasis

• Ann Arbor leads state in providing both affordable and market-rate downtown housing, including upper-story residential loft conversions along street 
• Mixed uses along designated blocks: retail, restaurants, office and upper-story residential
• Most parking located on streets adjoining South Main Street so as to not detract from pedestrian experience
• Enterprising restaurateurs have taken sidewalk dining a step further by installing front window panels that can be raised like garage doors during warm weather for more sheltered dining experience
• Ann Arbor’s transit hub located one block east of Main Street; access to University of Michigan campus provided by free bus service for students and go!pass holders
• Ann Arbor Downtown Plan, adopted by the city Planning Commission in June 2009,  calls for continuing vehicle parking exemptions, adding bicycle parking requirements, and  increasing density in the core area through zoning bonuses that encourage inclusion of pedestrian amenities, residential units in upper stories, affordable housing, LEED certified buildings, and potentially, transfer of development rights

Vibrant Activity

• Dominated by one-of-a-kind businesses. For example, on one side of one block are a small T-shirt shop, Greek restaurant, art gallery, low- and high-priced gift shops, coffee shop, karate instruction studio, custom tailor, European-style bistro, and stir-fry restaurant
• Strong support for local businesses from consumers and Think Local First, a group that encourages locally-owned businesses committed to making Ann Arbor a healthier and more vibrant place to live
• Downtown Development Authority promotes downtown business activity and economic revitalization with over 100 projects and $60 million invested in downtown for mixed-use developments, walkability, and parking developments
• Main Street Association organizes more than a dozen events on street each year
• Streetscape improvements in 1980s included widened sidewalks, intersection bump outs, trees and pedestrian crossings

Jobs Help Home Sellers and Buyers in Ann Arbor, Michigan

Throughout much of the world issues of life and death are daily realities.

In the United States, in Michigan, and in Ann Arbor, jobs and sustainable job creation would go a long way toward providing daily bread and making life better for a whole lot of people.

By now (October, 2009) most folks in and around Ann Arbor have heard about the California Information Technology company, Systems In Motion, coming to town.

The Silicon Valley company has announced their intention of bringing more than 1,000 knowledge based jobs into Ann Arbor over the next 5 years.

That’s just one more piece of good news for Michigan and the Ann Arbor community

To learn more about Systems In Motion, here’s a link to the company’s web site: 

http://www.systemsinmotion.com/index.php?home=index 

IT firm to bring 1,000 jobs to Ann Arbor area
By JOHN GALLAGHER FREE PRESS BUSINESS WRITER
September 22, 2009 19:58 PM

A California company, Systems In Motion, plans to create an estimated 1,085 jobs in the Ann Arbor area during the next five years… The Silicon Valley-based IT services firm is to open its center in Pittsfield Township, south of Ann Arbor. The company will create a software-development training program to train recent graduates and mid-career workers new to IT work, with most jobs paying in the $30,000 to $80,000 range.. The service center will provide customers with help-desk support, software testing, IT operations, business analysis, software architecture and engineering, and project and program management. …

http://m.freep.com/news.jsp?key=528104&rc=bz

Housing Markets Ready to Rebound

More signs that the housing market is beginning to stabilize – even in Michigan, and even beyond the state’s (relative) bright spot of Ann Arbor.

While we tend to think of Ann Arbor as it’s own island, and usually Last-In and First-Out of any economic downturn, good news from other parts of Michigan is good news for Ann Arbor, too. It appears that the housing limbo (How low can you go?) may be at it’s end.

A recent US News and World Report article (10/1/09) named two Michigan cities, Warren (#6) and Lansing (#8), among ten US cities whose housing markets appear poised to rebound.

Here’s an excerpt:    10 Hard-Hit Housing Markets That Are Ready to Rebound

After slumping, home prices in these 10 cities are expected to rise over the next three to five years

By Luke Mullins

Posted: October 1, 2009

As the historic housing crash continues to hammer real estate prices from coast to coast, many homeowners probably can’t remember the last time their property’s value actually increased. But even with home prices still falling at the national level, a number of hard-hit housing markets are gearing up for a rebound. To pinpoint the cities most likely to go from slump to bump, we turned to Moody’s Economy.com.  …

Read more:  http://www.usnews.com/money/personal-finance/articles/2009/10/01/10-hard-hit-housing-markets-that-are-ready-to-rebound.html?PageNr=1&-C=

1. Tacoma, Wash.: Home prices in Tacoma are projected to increase 22 percent by the first quarter of 2012 and 41 percent by the first quarter of 2014.
2. San Diego: Home prices in San Diego are projected to increase 13 percent by the first quarter of 2012 and 25 percent by the first quarter of 2014.
3. San Francisco: Home prices in San Francisco are projected to increase about 12 percent by the first quarter of 2012 and 26 percent by the first quarter of 2014.
4. Memphis: Home prices in Memphis are projected to increase about 9 percent by the first quarter of 2012 and 24 percent by the first quarter of 2014.
5. Worcester, Mass.: Home prices in Worcester are projected to increase about 6 percent by the first quarter of 2012 and 21 percent by the first quarter of 2014.
6. Warren, Mich.: Home prices in Warren are projected to increase about 5 percent by the first quarter of 2012 and 21 percent by the first quarter of 2014.
7. Boston: Home prices in Boston are projected to increase about 3 percent by the first quarter of 2012, and 18 percent by the first quarter of 2014.
8. Lansing, Mich.: Home prices in Lansing are projected to increase about 2 percent by the first quarter of 2012 and 15 percent by the first quarter of 2014.
9. Chicago: Home prices in Chicago are projected to increase about 2 percent by the first quarter of 2012 and 16 percent by the first quarter of 2014.

Moody’s bearish on housing recovery

Housing Prices Return To “Normal” (?)

Moody’s has indentified Michigan as one of several areas in the country that must have broken some double whammy real estate mirror and claims we’re in for another fourteen years of bad luck.   

“Analysts say it will take more than 10 years” (‘After 2023’ if you live in Michigan) “to recapture peak home prices”

So, who sez getting back to pre 2006, top of the bubble home prices and hyper-appreciation is a good thing, anyway?  Who is that good for?

Do we really need a 40% (Moody’s figure) recovery in home prices for life to be a LOT better, for an awful lot of people?

Once the widespread pain, blood letting and blame setting slows to a more normal trickle, a little stability and sustainability look pretty good from here in Ann Arbor, Michigan.

How about just a little pricing stability, and increased employment predictability to put people back to work and focusing on their business, their families, their homes and their communities – local and global.    

Analysts say it will take more than 10 years to recapture peak home prices

http://www.marketwatch.com/story/home-prices-wont-regain-peak-this-decade-moodys-2009-09-18

Bernanke declares ‘recession is very likely over’

Oh, but that it were true!  We’re rooting for you, Ben!   You’ve gotta love an optimist, and especially a bright articulate one whose middle name, Ben S Bernanke, is “Shalom” (used as a greeting and farewell, meaning “peace”)  What the world needs now is a little more Shalom.

Bernanke declares ‘recession is very likely over’     Sept 15, 2009

Unfortunately, unemployment will come down slowly

 By Greg Robb, MarketWatch

 WASHINGTON (MarketWatch) — Federal Reserve Chairman Ben Bernanke said Tuesday that the recession has ended, at least based on the numbers. “From a technical perspective, the recession is very likely over at this point,” Bernanke told a conference at the Brookings Institution. But “it’s still going to feel like a very weak economy for some time.”

http://www.marketwatch.com/story/bernanke-declares-the-recession-over-2009-09-15

Ann Arbor, Mi – #6 of 15 Great Underpriced College Towns

Real estate bargain hunters should check out the houses in these great university locales    By Luke Mullins   Posted: September 2, 2009    US News and World Report

Ann Arbor ranked #6 of 15, with the assertion that Ann Arbor homes are currently 19% undervalued.  Here’s the rankings summary: 

1. Houston: 37 percent undervalued
2. Atlanta: 24 percent undervalued
3. Bryan-College Station, Texas: 21 percent undervalued
4. Columbus, Ohio: 21 percent undervalued
5. South Bend, Ind.: 19 percent undervalued
6. Ann Arbor, Mich.:19 percent undervalued.
7. Athens, Ga.: 17 percent undervalued
8. Tallahassee, Fla. : 17 percent undervalued
9. Gainesville, Fla.: 17 percent undervalued
10. Lincoln, Neb.: 16 percent undervalued
11. Minneapolis-St. Paul : 16 percent undervalued
12. Boston: 16 percent undervalued
13. Fayetteville, Ark: 15 percent undervalued
14. San Luis Obispo, Calif.: 14 percent undervalued
15. Columbia, Mo.: 14 percent undervalued

Read the entire article:     http://www.usnews.com/money/personal-finance/real-estate/articles/2009/09/02/15-great-underpriced-college-towns.html