Author Archive | JOHN RICE ASSOCIATE BROKER | REALTOR

Forest Hills Central 4 Bedroom 1+ Acre wooded lot

 Forest Hills Central Schools! Step into this custom designed, 4 bedroom home featuring main floor master with 2 offices on the main floor, 3 additional generous sized bedrooms (upstairs,) large oversized and extra deep attached garage with attached shop and open storage areas, lower level offering room for a future rec room or exercise area and loads of storage. Be surrounded by beautiful hardwoods and evergreens all within minutes of Cascade and Ada. Shown by appointment only. Schedule your tour today! 

East Grand Rapids 4 Bedroom Charmer

Minutes from all your favorite hang-out spots, East Grand Rapids schools, beautifully updated and ready for you. This 4 bedroom 2 bath home features upstairs laundry, a great backyard, brand new deck, updated kitchen, new furnace, new water heater, new AC, refinished hardwood floors, updated electrical….the list goes on! Come see this house today!

For Sale: 10 Acre Luxury Estate with HUGE Barn, Office, Gym, and more

Exquisite one of a kind contemporary home on 10 acres. Featuring soaring cathedral ceilings, showcase granite faced fireplace, main floor master, main floor laundry, 6 garage stalls, theater room, hot tub, huge 48′ x 40′ pole barn with 60′ x 16′ RV stall with 14′ door. Remodeled by award winning builder Mike Schaap this home features timeless quality, all brick exterior, metal roof, and full automation (provided by local home automation experts Bekins.) The gourmet kitchen features all granite counter tops, Miele appliances, quality custom cabinets offering every built-in and storage option needed to masterfully entertain. The dedicated office space and 2 gym areas – both a TRX area and a workout room – show this house has what is needed to thrive in today’s world. The sound proofed theater room, featured in Audio Video Interiors magazine, is equipped with 1 touch fully automated movie mode, tiered seating and incredible surround sound. Roughly 1/3 of the acreage is wooded, offering a beautiful mix of hardwood and evergreen on the grounds. This home is a must see!

For Sale: 3 Acre 5 Bedroom Waterfront Home Forest Hills Schools Double Lot

**Sale also includes the last available lot in Flowers Mill: able to accommodate a walkout executive ranch – this extra lot offers an incredible opportunity.**

This incredible Flowers Mill Nantucket inspired Cape Cod designed by Jeff Visser, built by Andy Vandermale, and landscaped by Tom Rooks, features a double lot with serene scaped grounds, timeless design, and quality craftsmanship. With the perfect combination of floor plan and location, this cul-de-sac setting offers privacy perfect for both quiet enjoyment and entertainment. From the brick patio, or one of the many decks, enjoy peaceful views of the wetlands. Offering main floor living, 3 stall garage, with superb layout and plenty of room for everyone.

Rockford: Incredible Lot Custom Build Your Dream Home

Opportunity Knocks!!! Build your dream home on this incredible walkout building site offering the PERFECT location. With walking/biking trails on the north end of this development with a private walking trail right to them and Townsend Park right across the street. Now you can build your dream home with award winning builder, Christin Homes LLC. This sought after location offers Rockford Schools, several acres of shared land, a large building envelope that can accommodate many of todays most popular floor plans. NOTE: natural gas is available.

Ultimate Get Away: Waterfront Marquette Island Cabins Les Cheneaux Islands

Marquette Island – 8.4 Acres for sale

The ultimate get away – 8.4 Acres on Marquette Island with over 896 feet of private waterfront on Duck Bay in the Les Cheneaux Islands of Lake Huron. Accessible by boat, this incredible land offers the ability to have true solitude. Here you have everything you need: fish the waters, shelter with the cabins, on-site electric and running water. This one-of-a-kind site has kept its natural beauty while offering on-site electric, water, 2 log cabins, cook shelter and more. Note: Land contract terms available.

Multigenerational Housing Is Gaining Momentum [INFOGRAPHIC]

Multigenerational Housing Is Gaining Momentum [INFOGRAPHIC]

Multigenerational Housing Is Gaining Momentum [INFOGRAPHIC] | Simplifying The Market

Some Highlights

  • If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a multigenerational home that better suits your changing needs.
  • With benefits that include a combined homebuying budget and shared caregiving duties, an increasing number of households are discovering the value of a multigenerational home.
  • With such high demand for houses today, now is a great time to sell so you can upgrade to a multigenerational home that may better suit your evolving needs.

Source: Michigan Real Estate Updates

How a Change in Mortgage Rate Impacts Your Homebuying Budget

 

How a Change in Mortgage Rate Impacts Your Homebuying Budget

Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares:

Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power.” (See graph below):

When buying a home, it’s important to determine a monthly budget so you can plan for and understand what you can afford. However, when you need to stick to your budget, even a small increase in the mortgage rate can make a big difference.

According to the National Association of Realtors (NAR), today, the median existing-home price is $313,000. Using $300,000 as a simple number close to the median price, here’s an example of how a change in mortgage rate impacts your monthly principal and interest payments on a home.

If, for example, you’re getting ready to buy a home and know your budget allows for a monthly payment of $1200-1250 (marked in gray on the table above), every time the mortgage rate increases, the loan amount has to decrease to keep your monthly cost in range. This means you may have to look for lower-priced homes as mortgage rates go up if you want to be able to maintain your budget.

In essence, it’s ideal to close on a home loan when mortgage rates are low, so you can afford to borrow more money. This gives you more purchasing power when you buy a home. Mark Fleming, Chief Economist at First American, explains:

“Monthly payments have remained manageable despite soaring home prices because of low mortgage rates. In fact, monthly payments remain below the $1,250 to $1,260 range that we saw in both fall 2018 and spring 2019, but they are on track to hit that level this spring.

Although they remain low, mortgage rates have begun to increase and are expected to rise further later in the year, thus affordability will test buyer demand in the months ahead and likely help slow the pace of price growth.”

Today’s mortgage rates are still very low, but experts project they’ll continue to rise modestly this year. As a result, every moment counts for homebuyers who want to secure the lowest mortgage rate they can in order to be able to afford the home of their dreams.

Bottom Line

Thanks to low mortgage rates, the spring housing market’s in bloom for buyers – but these favorable conditions may not last for long. Let’s connect today to start the homebuying process while your purchasing power is still holding strong.

Source: Michigan Real Estate Updates

 

East Grand Rapids – 4 Bedrooms 3.5 Baths

Welcome to 2747 Maplewood East Grand Rapids. Nestled on the treelined street of Maplewood this 4 bedroom 3+ Bath house features hardwood floors, master suite with private master bath and walk-in closet, finished basement, 2 fireplaces, attached extra deep garage, fenced in back yard and more! Enjoy all the wonderful aspects of East Grand Rapids with sidewalks, Gaslight Village, Canepa Tennis Center, Reeds Lake, Breton Village Mall and more. NOTE: Showings to begin after 12PM on March 12 2021. Seller has directed all offers be held until March 19 2021 at 5pm.

2021 Real Estate Myth Buster [INFOGRAPHIC]

 

2021 Real Estate Myth Buster [INFOGRAPHIC]

 

Some Highlights

  • There are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape.
  • Here’s a little clarity when it comes to 5 common myths about the 2021 housing market.
  • Let’s connect to discuss your needs and so you can decipher facts from fiction in our local market.

Source: Michigan Real Estate Updates