Ann Arbor is a city in the U.S. state of Michigan and the county seat of Washtenaw County. The 2010 census recorded its population to be 113,934, making it the sixth largest city in Michigan.
Ann Arbor is home to the University of Michigan. The university shapes Ann Arbor's economy significantly as it employs about 30,000 workers, including about 12,000 in the medical center. The city's economy is also centered on high technology, with several companies drawn to the area by the university's research and development infrastructure, and by its graduates.
Ann Arbor was founded in 1824, named for wives of the village's founders, both named Ann, and the stands of bur oak trees. The University of Michigan moved from Detroit to Ann Arbor in 1837, and the city grew at a rapid rate in the early to mid-20th century. During the 1960s and 70s, the city gained a reputation as a center for left-wing politics. Ann Arbor became a focal point for political activism, such as opposition to the Vietnam War and support for the legalization of cannabis.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Ann Arbor, Michigan. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!
The national average total real estate commission in 2015 was 5.26% *
In Ann Arbor, Michigan, you will find the following real estate commissions charged*:
Typical Asking Commission: 6.0%
Competitive Commission: 5.0%-5.5%%
Very Competitive Commission: 4.5%-4.99%
The median existing single-family home price in the Midwest rose 6.6%, to $204,000, in the second quarter of 2017 compared to the the second quarter of 2016. Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:
In the State of Michigan, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).
In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent. Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”. This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client. This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).
When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.
At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in Michigan.
Sellers who are also buying a home in the same local market have a volume discount advantage. ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home. Be sure to check the box that you are also buying a home locally to receive these better rates.
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As of the 2010 U.S. Census, there were 113,394 people, 45,634 households, and 21,704 families residing in the city. The population density was 4,270.33 people per square mile (2653.47/km²). There were 49,982 housing units at an average density of 1,748.0 per square mile (675.0/km²), making it less densely populated than inner-ring Detroit suburbs like Oak Park and Ferndale (and than Detroit proper), but more densely populated than outer-ring suburbs like Livonia or Troy. The racial makeup of the city was 73.0% White (70.4% non-Hispanic White), 7.7% Black or African American, 0.3% Native American, 14.4% Asian, 0.0% Pacific Islander, 1.0% from other races, and 3.6% from two or more races. Hispanic or Latino residents of any race were 4.1% of the population.
In 2013, Ann Arbor had the second-largest community of Japanese citizens in the state of Michigan, numbering 1,541; this figure trailed only that of Novi, which had 2,666 Japanese nationals. In addition, as of 2005, Ann Arbor has a small population of Arab Americans, including several students as well as local Lebanese and Palestinians.
In 2000, out of 45,693 households, 23.0% had children under the age of 18 living with them, 37.8% were married couples living together, 7.5% had a female householder with no husband present, and 52.5% were nonfamilies. 35.5% of households were made up of individuals and 6.6% had someone living alone who was 65 years of age or older. The average household size was 2.22 and the average family size was 2.90. The age distribution was 16.8% under 18, 26.8% from 18 to 24, 31.2% from 25 to 44, 17.3% from 45 to 64, and 7.9% were 65 or older. The median age was 28 years. For every 100 females there were 97.7 males; while for every 100 females age 18 and over, there were 96.4 males.
The median income for a household in the city was $46,299, and the median income for a family was $71,293 (these figures had risen to $51,232 and $82,293 respectively as of a 2007 estimate). Males had a median income of $48,880 versus $36,561 for females. The per capita income for the city was $26,419. About 4.6% of families and 16.6% of the population were below the poverty line, including 7.3% of those under age 18 and 5.1% of those age 65 or over.
The University of Michigan shapes Ann Arbor's economy significantly. It employs about 30,000 workers, including about 12,000 in the medical center. Other employers are drawn to the area by the university's research and development money, and by its graduates. High tech, health services and biotechnology are other major components of the city's economy; numerous medical offices, laboratories, and associated companies are located in the city. Automobile manufacturers, such as General Motors and Visteon, also employ residents.
High tech companies have located in the area since the 1930s, when International Radio Corporation introduced the first mass-produced AC/DC radio (the Kadette, in 1931) as well as the first pocket radio (the Kadette Jr., in 1933). The Argus camera company, originally a subsidiary of International Radio, manufactured cameras in Ann Arbor from 1936 to the 1960s. Current firms include Arbor Networks (provider of Internet traffic engineering and security systems), Arbortext (provider of XML-based publishing software), JSTOR (the digital scholarly journal archive), MediaSpan (provider of software and online services for the media industries), Truven Health Analytics, and ProQuest, which includes UMI. Ann Arbor Terminals manufactured a video-display terminal called the Ann Arbor Ambassador during the 1980s. Barracuda Networks, which provides networking, security, and storage products based on network appliances and cloud services, opened an engineering office in Ann Arbor in 2008 on Depot St. and recently announced it will move downtown to occupy the building previously used as the Borders headquarters. Duo Security, a cloud-based access security provider protecting thousands of organizations worldwide through two-factor authentication, is headquartered in Ann Arbor.
Websites and online media companies in or near the city include All Media Guide, the Weather Underground, and Zattoo. Ann Arbor is the home to Internet2 and the Merit Network, a not-for-profit research and education computer network. Both are located in the South State Commons 2 building on South State Street, which once housed the Michigan Information Technology Center Foundation. The city is also home to the headquarters of Google's AdWords program—the company's primary revenue stream. The recent surge in companies operating in Ann Arbor has led to a decrease in its office and flex space vacancy rates. As of December 31, 2012, the total market vacancy rate for office and flex space is 11.80%, a 1.40% decrease in vacancy from one year previous, and the lowest overall vacancy level since 2003. The office vacancy rate decreased to 10.65% in 2012 from 12.08% in 2011, while the flex vacancy rate decreased slightly more, with a drop from 16.50% to 15.02%.
Pfizer, once the city's second largest employer, operated a large pharmaceutical research facility on the northeast side of Ann Arbor. On January 22, 2007, Pfizer announced it would close operations in Ann Arbor by the end of 2008. The facility was previously operated by Warner-Lambert and, before that, Parke-Davis. In December 2008, the University of Michigan Board of Regents approved the purchase of the facilities, and the university anticipates hiring 2,000 researchers and staff during the next 10 years. The city is the home of other research and engineering centers, including those of Lotus Engineering, General Dynamics and the National Oceanic and Atmospheric Administration (NOAA). Other research centers sited in the city are the United States Environmental Protection Agency's National Vehicle and Fuel Emissions Laboratory and the Toyota Technical Center. The city is also home to National Sanitation Foundation International (NSF International), the nonprofit non-governmental organization that develops generally accepted standards for a variety of public health related industries and subject areas.
Borders Books, started in Ann Arbor, was opened by brothers Tom and Louis Borders in 1971 with a stock of used books. The Borders chain was based in the city, as was its flagship store until it closed in September 2011. Domino's Pizza's headquarters is near Ann Arbor on Domino's Farms, a 271-acre (110 ha) Frank Lloyd Wright-inspired complex just northeast of the city. Another Ann Arbor-based company is Zingerman's Delicatessen, which serves sandwiches and has developed businesses under a variety of brand names. Zingerman's has grown into a family of companies which offers a variety of products (bake shop, mail order, creamery, coffee) and services (business education). Flint Ink Corp., another Ann Arbor-based company, was the world's largest privately held ink manufacturer until it was acquired by Stuttgart-based XSYS Print Solutions in October 2005. Avfuel, a global supplier of aviation fuels and services, is also headquartered in Ann Arbor. Aastrom Biosciences, a publicly traded company that develops stem cell treatments for cardiovascular diseases, is also headquartered in Ann Arbor.
Many cooperative enterprises were founded in the city; among those that remain are the People's Food Co-op and the Inter-Cooperative Council at the University of Michigan, a student housing cooperative founded in 1937. There are also three cohousing communities—Sunward, Great Oak, and Touchstone—located immediately to the west of the city limits.