Author Archive | JOHN RICE ASSOCIATE BROKER | REALTOR

Home Mortgage Rates by Decade [INFOGRAPHIC]

Home Mortgage Rates by Decade [INFOGRAPHIC]

Home Mortgage Rates by Decade [INFOGRAPHIC] | Simplifying The Market

Some Highlights

  • Mortgage interest rates have dropped considerably over the past year, and compared to what we’ve seen in recent decades, it’s a great time to buy a home.
  • Locking in a low rate today could save you thousands of dollars over the lifetime of your home loan, but these low rates may not last forever.
  • If you’re in a position to buy a home, let’s connect to determine your best move in today’s housing market while interest rates are still in your favor.

Source: Michigan Real Estate Updates

2.8 Acres + Barn Build Your Dream Home

Looking for the perfect lot to build your DREAM HOME? Want acreage and beautiful barn and a great place to call home? This is it! This is the perfect way to obtain 2.8 acres, and a barn plus it currently has 1971 mobile on it. Beautifully remodeled and added onto, this 1971 mobile home is built on a permanent chassis. Thinking of building new? Check out the large open vacant space on the north side of the property! NOTE: Because this home is built on a permanent chassis and built in 1971. Financing needs to be CASH or most likely a portfolio or construction loan with 30% down and credit score requirements.

The Luxury Market Is Attracting Buyers in 2021

 

The Luxury Market Is Attracting Buyers in 2021

The Luxury Market Is Attracting Buyers in 2021 | Simplifying The Market

As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares:

“In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic, the luxury real estate market has seen one of its strongest years since 2008. In comparison to experts’ predictions in early 2020, it is remarkable how significant demands for property type, location, and amenity preferences have changed amid the pandemic.”

With more opportunities to work from home and a growing interest in having extra space for things like virtual school, working out, and cooking more meals, the desire to own a home that can meet these needs continues to increase. Additionally, record-low mortgage rates are creating opportunities for homebuyers to stretch their legs into higher price points or even expand their real estate portfolios. The ILHM report continues to say:

Experts believe that the demand for exclusive residential properties outside the metropolitan areas will continue well into 2021; even with the introduction of vaccines, the pandemic is far from over.

For those who have moved to the suburbs and beyond, moving back to the city full time is unlikely while the work from home trend remains. Many of these affluent homeowners are now making their secondary properties their primary residences for the foreseeable future.”

If you’re interested in buying a home this year, it appears that some higher-priced markets may have more homes to choose from than those at lower price points. Javier Vivas, Director of Economic Research at realtor.com, notes:

“Interestingly, markets, where new supply is improving the fastest, tend to be higher priced than those that have yet to see improvement, suggesting sellers are more active in the more expensive markets.”

Bottom Line

If you’re hoping to buy the home of your dreams, this could be the year to achieve that goal. Let’s connect today to explore your possibilities.


Source: Michigan Real Estate Updates

Why Moving May Be Just the Boost You Need

Why Moving May Be Just the Boost You Need

Why Moving May Be Just the Boost You Need | Simplifying The Market

As we look back over the past year, we’ve certainly lived through one of the most stressful periods in recent history. After spending so much more time at home throughout the health crisis, some are wondering if they should move to improve their mental health and well-being. This is no surprise since the U.S. Census Bureau reported an increase in the percentage of adults with symptoms of anxiety and depression in a recent Household Pulse Survey.

There’s logic behind the idea that making a move could improve someone’s quality of life. When people change their scenery, they often feel happier. Catherine Hartley, an Assistant Professor at New York University’s Department of Psychology and co-author of a study on how new experiences impact happiness, mentioned:

“Our results suggest that people feel happier when they have more variety in their daily routines—when they go to novel places and have a wider array of experiences.”

If you’re looking for a new experience, planning a move into a new home may be something you’ve started to consider more carefully. If so, you’re not alone. The 2020 Annual National Movers Study by United Van Lines shows:

For customers who cited COVID-19 as an influence on their move in 2020, the top reasons associated with COVID-19 were concerns for personal and family health and wellbeing (60%); desires to be closer to family (59%); 57% moved due to changes in employment status or work arrangement (including the ability to work remotely); and 53% desired a lifestyle change or improvement of quality of life.”

So, if you’re thinking of moving this year to help boost your happiness factor, here are a few questions to ask yourself as you make your decision.

How’s the Weather?

Is the weather something that’s important to you? Does it have a tendency to impact your mood? The World Population Review shares:

“What states have the best weather? When evaluating each state for temperature, rain, and sun, some states stand out. Although climate and weather preferences are personal and subjective, some criteria are considered to make up the best weather, according to Current Results:

  • Comfortable temperatures from 63°F to 86°F for more than half of the year.
  • Dry weather with no more than 60 inches of rain per year.
  • Mostly clear skies with an average of sunshine for at least 60% of the year.”

“Better weather” can mean different things to different people – some prefer the heat, others cooler temperatures, and some want to experience all four seasons. Think about what makes you feel happiest if you’re looking for a new location.

Should I Choose the City, Suburbs, or Country?

With the COVID-19 pandemic, some people are deciding to move to lower-density areas. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), mentions:

“The third quarter Home Building Geography Index (HBGI) reveals that a suburban shift for consumer home buying preferences in the wake of the COVID-19 pandemic is accelerating as telecommuting is providing consumers more flexibility to live further out within large metros or even to relocate to more affordable, smaller metro areas.”

Can you work from home? Are you open to a longer commute in the future? If so, a move to the suburbs or even a quieter rural area may be a win for you. Or, if you’ve always dreamed of life in the city, now may be your chance to move into town.

Bottom Line

As we look beyond the trials of the pandemic, many are hoping for a new beginning, and that may mean moving. Let’s connect today to talk about your new goals and options in today’s market.


Source: Michigan Real Estate Updates

For Sale: New Construction in Blackstone 5 Bedrooms 3.5 Baths 3 Stall

Move right in to this incredible new construction masterpiece by Christin Homes! Surrounded by woods, acres of dedicated park land, and protected wetland, yet in the heart of the sought after Blackstone development of Alto. Award winning Caledonia Schools, minutes from the major highways and daily amenities such as shopping and entertainment. With 5 bedrooms, 3.5 baths 3 stall garage this new construction house is an incredible find! Schedule your private tour today! Scheduled to be completed by mid March 2021, move right and enjoy!

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.

For Sale: Thornapple River Front Forest Hills 5 Bedrooms 3.5 Baths 1.75 Acre Lot

Forest Hill Schools – Private Thornapple River frontage. This gorgeous Town & Country cedar home is surrounded by the natural beauty of hardwoods. Located on the open 6 mile stretch of the Thornapple River (all sports.) This home offers the best of rustic-lux. With soaring vaulted plank ceilings, stone fireplace, majestic views out every window, and quality finishes throughout – every inch breathes the essence of home. The main floor master with luxuriously appointed on-suite, the additional bedrooms, finished garage loft space, and walk-out lower level each offer custom touches combining form, function and fun. Experience the peace of this location while appreciating its close proximity to everyday amenities such as shopping, dining, entertainment, and more.

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.