The spring/summer market is upon us!! In a brief analysis of the current market we have more on the market than last year. Meaning on the whole the Grand Rapids area is leaning more towards a buyers market. However, sellers do not despair!! In a look back of the recent months it would appear the area has been on a steady uptick since last August – the apparent low spot. There is evidence of more sellers and neutral markets coming, and the buyers market ratios and slimming down. Often a great indication of what’s to come is shown by the internet activity and activity is on the rise! February showed an average of 4800 viewers searching the public side of the GRAR.com (Grand Rapids Association of Realtors site) now, the latest for the most complete (April) month is just under 7000!
BEAUTIFUL SE GR RANCH!!!
Grand Rapids • MI • 49507
MLS #: 555731
Status: For Sale
Bedrooms: 3 Bathrooms: 2
Property Sub Type: Ranch
Square Ft: 2502
Year Built: 1953
Absolutely stunning ranch located on a quiet tree-lined street in the heart of Alger Heights. You will be impressed with all the grand upgrades and surprises this home has to offer. Marble entryway, gorgeous hardwood floors, completely new and spectacular kitchen design by “Dimensions” with beautiful cherry cabinets, appliance garage and pantry. Large master bedroom has a redesigned deep and spacious closet by California closets. 2 large additional bedrooms host ample closet space. Living room on main level with gas fireplace, formal dining room. Large family room in basement with a 2nd wood burning fireplace. Gorgeous 4 season room with tile flooring. Every window has been replaced with quality Renewal by Andersen windows. Underground sprinkling, adorable playhouse, 2 3/4 stall garage with work bench, and storage shed. Roof, furnace, water heater, gutters, eaves–All newer and top of the line! Too many upgrades to list, you must get inside this amazing home.
1619 Edith Ave
Grand Rapids • MI • 49505
MLS #: 560449 •
Status: For Sale
Listing Information Bedrooms: 3Property Sub Type: Single Family – Bi-LevelSquare Ft: 1700Bathrooms: 2Year Built: 1996Listing Description Gorgeous 3 bedroom, 2 bath NE home. Appealing open/spacious floor plan with cathedral ceilings in living room. Beautiful maple kitchen with center island (all appliances stay). Large dining area located off from open kitchen. 3 large bedrooms with plenty of closet space. Neutral colors found throughout home. Walk-out lower level features family room with wet bar, bedroom, bathroom, laundry, & storage. This home has been well maintained & pride of ownership can be seen throughout.
John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546
Listing Information Bedrooms: 4Property Sub Type: Single Family – 2 StorySquare Ft: 3000Bathrooms: 3+Year Built: 2002Listing Description Step into your dream home. With 9 foot ceilings, arched entryways, upgraded flooring including wood laminate, carpeting & tile this home has all the details. Built in 2002 with a newly finished walkout basement, this home features 4 bedrooms, 3+ baths & over 3,000 square feet of living space, plus storage. All the details have been included, fireplace in living room, center island in kitchen, laundry/utility thoughtfully located on the second floor & a terrific flowing floor plan. This is a must see, must have, home nestled in the heart of Cannon Farms, privately overlooking flowering fruit trees off the back deck & sidewalks out the front. Better than new construction with fully finished deck & patio, central air, finished basement & landscaping, plus all appliances are included, including washer & dryer. John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546616-974-6766
I’ve been talking with several people in the West Michigan area who have asked me “What’s the market like? Is it as bad as the papers say?”
The good news is we, in West Michigan, are sitting better than much of the state and have seen a strengthening of the selling market as of late. We’re not as robust of a market as in 2004 – but that’s to be expected. You can not sustain record sales growth. The West Michigan market has continued to strengthen from what appears to have been the worst slump back in summer/early fall of ’05. We’re now in a stage of flushing out the market as we move into peak buying season. While the majority of the Grand Rapids and surrounding areas are still considered a “buyers’ market” (a list to sales derived ratio) we continue to see an increase in “neutral market” (neither buyer or seller are favored) and even some “sellers’ markets” are forming. This is a positive sign and one that should continue to assist in evening out the market.
An important consideration to remember during “buyers’ market” times is that it’s a sliding scale. The majority of sellers soon become buyers and naturally buy a home that costs more. While you may take a 5% hit on the house you’re selling there is also a high likely hood of obtaining a 5% or more decrease on the one your are buying. For example if you list your home for $185,000 and you take a 5% hit to sell it you’re taking a $9,250 loss. HOWEVER when you go to purchase you’re new home for $$275,000 a 5% reduction here is $13750. You just kept an extra $4500 in your pocket!
To determine if you’re in a sellers market or ways to potentially retain higher than 5% off your sale price please feel free to contact us for an individual analysis.
So you’re considering a move in home ownership? Then here are a few points to consider.
The Home Buying 9 Step Process:
The hardest part about the home buying process is often just knowing where to start. We hope that the steps outlined below will assist you in your journey toward home ownership.
Education – Call us for an individual appointment or attend our next Home Seminar. This will help you assess your readiness to buy or sell and identify techniques to help you find the home you want.
Review Your Budget – Budgeting your money is the second step in preparing for home ownership. Most consumers interested in purchasing a home need to save money for their down payment, closing costs and other expenses associated with moving and home maintenance. Several low down and zero down programs exist but may not be right for everyone – a conversation with your Realtor & mortgage lender will help with this decision.
Identify Loan Amount – Visit a lender and be pre-qualified for a mortgage loan.
Assess Your Needs – Identify the features in a home that will be most important to you and your family.
Work With a Real Estate Agent – Choose a Real Estate Agent to show you properties in your area.
Purchase and Sales Agreement – Your Real Estate Agent will help you to make an offer and negotiate a purchase price on a property. Be sure your offer is contingent on your ability to obtain the mortgage needed and any inspections you wish to have.
Inspection – Arrange for a professional home inspector to look at the property.
Complete Loan Package – Contact your mortgage lender to complete your application. Be sure to respond promptly to any requests from the lender for information.
Lender Approval – The lender’s formal approval of your loan request is called an “pre-approval letter.” Give a copy of this letter to your Realtor to confirm that you have complied with the terms of your contract with the seller.
Closing – At the closing, you will sign all of the mortgage documents and keys to your home from the seller (unless you’ve negotiated with the seller to allow them to stay longer.)
Congratulations, you are a home owner!
2580 Winding Ridge Trail
Property Sub Type: Single Family
RanchSquare Ft: 3200 (upto 5000 sq ft available)
Year Built: 1995
Quality custom built executive home on scenic 1.45 acre wooded lot. Located on a private, wooded, cul-de-sac. Artful, high-quality craftsmanship found throughout home. Beautiful living room with grand gas fireplace and cathedral ceilings. Inviting 4 season room overlooks spectacular wooded lot and picturesque landscaping. Gorgeous kitchen with dining area, center island, and ample cupboard/ counter space. Large master suite boasts spa shower with marble tile countertop. Lower level hosts family room with custom built-ins/ bookshelves, full bath, and over 1500 sq.ft. of unfinished space remains for expansion and storage(making it over 5000 sq. ft.) Whole house wired with surround sound system and fiber optics. This is an exquisite home and a must see!
Before placing your home on the market there are some considerations to make. Think back to when you purchased your home. How did it smell? How clean was it? Did this affect your opinion of how the home owners were keeping up the house? Often, a buyer will perceive what is seen on the surface as a reflection of how well you’ve cared for the house while living there. A clean house with well oiled doors and clean windows and cupboards that close is often perceived as a house that has been well cared for. With that in mind read on….
So you’re thinking of placing your home on the market? Be sure to consider these 5 steps before the sign goes in the yard.
1. Curb Appeal: What does your home look like from the outside? Is it such that a buyer would want to come in? The buyers’ first impression is very important to drawing them to the interior of the home. Make sure your exterior is well manicured; cut the grass, trim the shrubs, eliminate weeds from cracks in pavement, scrub down the front door and wash all the windows. This shows the buyer how well you take care of your home.
2. Clutter Be Gone: Clear entryways and hallways making it easy for the buyers to move throughout your home. Clean off counter tops in bathrooms and kitchens and rid them of clutter. Take good inventory of items that can be given away or thrown away – shoving them a closet won’t help – buyers open closets and drawers too! Speaking of closets, organize them – showing ease of use and plenty of space. If you need to, consider renting a storage unit for off-season items.
3. Hammer & Nail: If there are small items around the house that need fixing correct them. A home that shows it’s been well maintained is received positively. If the cabinet door sticks, or there are areas that could use patching, consider doing these before you let the buyers in.
4. K.I.N.: Keep It Neutral! Paint is one of the least expensive ways to improve the appearance of a space. Buyers these days prefer light, neutral colors. While painting a room will not usually yield a higher sale price it can GREATLY assist in your home selling sooner. Dark paints can make a room look smaller and don’t reflect the light as well and stronger colors can inhibit many buyers from envisioning themselves living in the home.
5. Soap & Water: Cleaning can do wonders for the appeal of your home. Clean carpets, shine wood floors, scrub the tile and wipe down the baseboards –and that’s just the floors! Consider cleaning every inch of the bathrooms and replace the shower curtain if necessary. For the kitchen clean the cupboards and the both the stove top and the oven. When it comes to dusting replace your furnace filter first! Then dust away all those dust bunnies. By replacing your filter first you will have less of a likelihood of the dust returning so quickly.
By following these 5 steps you’re well on your way to having your home prepared. Now it’s time to call us and we’ll walk through the home with “buyer eyes” assisting you by pointing out items that a buyer may notice. Small corrections can go a LONG way!
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