Market Update

    Buyers and Sellers this is your time. Why both of you? Because from July to end of September is often the busiest selling season – so seller’s it’s time to get your house on the market. Buyers – it’s your time too! Why? Because much of the greater Grand Rapids area remains a buyers market. With interest rates still on your side – yes they’re still good rates !!!! Check with anyone who bought a home in the 80’s (interest rates were over 12%- OUCH!) Plus, home valuations continue to rise and cost of new construction continues to rise BUT the cost of existing homes has remained relatively stable due to market saturation. About the only bad news for a buyers is that it’s tough choosing from all these great homes for sale! Trust me – that’s not really bad news – besides Ashley and I can help.

    Our market observation? The homes with little needing to be done (i.e. cosmetic and structural) are selling the quickest. With new loan programs out there buyers are still able to purchase properties that need even major work and are able to roll the costs into their mortgage (ask us for the details on this one – our mortgage contact can help you and financing options vary by house and by person.) All in all the market is slower than we’ve seen in the past 3 years but homes are still selling. West Michigan remains the strongest section of our state and with new things on the horizon in downtown GR and surrounding areas – things remain positive.

    Happy July 4th!

    Happy July 4th! Have a wonderful and safe holiday!

    ” It’s that time of the year
    for the red white and blue
    They stand for freedom
    in all you say and do
    Show off those colors
    for all the world to see
    Fly them proudly over
    the air the land and sea
    We celebrate the birth
    of our blessed country
    It surely is indeed
    the land of the free

    -author unknown

    310 Scott Ave NW

    Price: $147,900

    310 Scott Ave NW

    Grand Rapids • MI • 49504

    MLS #: G563629 •

    Status: For Sale

    Gorgeous NW 2 Story


    Listing Information

    Bedrooms: 3

    Property Sub Type: Single Family 2-Story

    Square Ft: 1638

    Bathrooms: 1+Year

    Built: 1914

    Listing Description

    Gorgeous 3 bedroom, 1+ bath home located on a quiet tree-lined street. Spectacular porch located on the front of the home. Beautiful woodwork, built-ins found throughout the home. Gorgeous hardwood floors. Kitchen has been totally redone with plenty of cupboard/ counter space. Large dining room, spectacular sunroom/sitting room. Living room has lots of windows – allowing for natural light. All 3 bedrooms provide ample closet space – extra storage areas found throughout the home. New furnace & air conditioner, all appliances stay. Neutral colors – move in condition! This home is a MUST see!

    John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546 616-974-6766

    4527 Rumley Ct

    Description:Price: $299,900
    4527 Rumley Ct. SWWyoming •
    MI • 49418
    MLS #: 553156 •
    Status: For Sale

    Spectacular Ranch- Grandville Schools!
    Listing Information
    Bedrooms: 4
    Property Sub Type: Ranch
    Square Ft: 3,100
    Bathrooms: 2+
    Year Built: 2004

    Listing Description

    Fabulous custom quality home built by master carpenter Duane Huitema. The fit, finish and use of materials are beyond the price range. Features include: wooded cul-de-sac, 9 foot ceilings throughout, cathedral ceiling in great room, custom built cherry cabinets and trim, stainless appliances, Andersen tilt wash windows, custom closet details, TJI floor joists. blown in Nu-Wool insulation in walls and ceilings, and mud room with custom lockers.

    John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546 616-974-6766

    2111 Lake Dr East Grand Rapids

    Description:Price: $169,9002111 Lake Dr. SEEast Grand Rapids • MI • 49506MLS #: 563859 • Status: For SaleFantastic East Grand Rapids Home! ——————————————————————————–Listing Information Bedrooms: 3Property Sub Type: 2-StorySquare Ft: 1,140Bathrooms: 2Year Built: 1921Listing Description Spectacular 3 bedroom, 2 bath home! This home features a great deal of character and charm. Curb appeal with beautiful landscaping. Large front porch. Gorgeous hardwood floors and a lot of exposed natural woodwork. Large living room and dining room – perfect for entertaining. 9 ft ceilings found on main level. Screened in porch located on back of home. Large master bedroom with ample closet space. 1+ stall garage. Low maintenance yard. Don’t miss this EGR gem! John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546616-974-6766

    4701 Brookmeadow Dr SE

    Price: $167,900
    4701 Brookmeadow
    Kentwood • MI • 49512
    MLS #: 564107 • Status: For Sale

    Fantastic Kentwood Home


    Listing Information
    Bedrooms: 3
    Property Sub Type: Single Family Mulit-level
    Square Ft: 1916
    Bathrooms: 2
    Year Built: 1994

    Listing Description
    Fantastic home located on a quiet cul-de-sac. All new flooring throughout including, beautiful wood laminate floors found in living room & dining room, & brand new upgraded neutral carpeting. Cathedral ceiling on main level. Large windows allow for plenty of natural light. Large kitchen offers a great deal of cupboard space (all appliances stay). Master bedroom with french doors & large walk-in closet. Tile found in both bathrooms. Family room found in walk-out level with sliders to tiered deck. Large lot with underground sprinkling. Move in condition!

    John Rice
    Greenridge Realty
    3435 Lake Eastbrook Blvd
    Grand Rapids, MI 49546

    1532 Spicewood Ct SE

    Description:Price: $144,9001532 Spicewood Ct.Lowell • MI • 49331MLS #: 563750 • Status: For SaleGreat 2-Story in Lowell! ——————————————————————————–Listing Information Bedrooms: 4Property Sub Type: 2-StorySquare Ft: 1,496Bathrooms: 1+Year Built: 1971Listing Description Fantastic 4 bedroom, 1+ bath home located on a quiet cul-de-sac. This home has a great layout! Gorgeous view! Large living room with beautiful picture window. Dining room with sliders to patio. All 4 bedrooms are large & provide plenty of closet/storage space. 2+ stall garage has plenty of room for storage. Large corner lot. Newer roof & air conditioner. All appliances stay. John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546616-974-6766

    Interest Rate – “act now” mentality

    One the the most motivating factors in any purchase is knowing you’ll get a better deal the faster you act. We’ve all seen it, interest rates are rising and in the long run they are expected to continue to move upwards. With this in mind buyers are begining to take advantage of money being “on sale” now and seeking to purchase before another rate hike. Secondarily, with the recent buyers market, buyers have been motivated to take advantage of buying now rather than waiting a few months or even a year or two. One of the strongest motivators for this activity is the idea that when you buy a more expensive house and you’re obtaining 5% off list price (what the current GR market is bearing) it’s a SLIDING scale. Imagine if you’re selling your house for $185,000 – you might be giving up on average $9250 (5%.) However when you go to purchase your new home of $250,000 you have a high likely-hood of obtaining 5% off that one, $12500 (5%) You’re ahead $3250. Factor in the competition that varies at different price levels and you may even be able to obtain even a higher percentage off.

    Keep in mind that typically once you have selected your property your lender can “lock” your rate and you can be assured of getting the rate you’ve been promised. The next step then – pick a property. There’s a lot to choose from but there’s no reason to drag your selection out for ever. Your home will only be more expensive the longer you wait – assuming it’s still there. Also, working with a experienced professional such as Ashley and myself will assist you in narrowing down your options and providing you with a selection of what you really want.

    What do you think is likely to happen in your case? Call or email Ashley and I and we’ll help you figure that out.

    Activity is through the roof!!!

    Activity is up and people are showing up ready to buy! It’s like the world of buyers woke up! Interest rates are still great but their upward trends have indicated to buyers that if they’re going to be serious aobut buying they might as well do it now before they hike again. With Memorial Day now behind us, the Parade of Homes and Parade of Downtown Living either upon us or in the very near future, buying is “top of mind” for many.

    The latest…The greatest time of year!

    I have sellers who wait all year to place their home on the market during this time of year. It’s one of the BEST times of year to sell. With kids close to out of school and homes looking their best buyers are in search of their next home now before kids are back to school and the turkey’s on the table.

    As always, if you have questions email me: or post your comments