Archive | BUYERS

    The Benefits of Growing Equity in Your Home

     

    The Benefits of Growing Equity in Your Home

    The Benefits of Growing Equity in Your Home | Simplifying The Market

    Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is the positive impact they have on home equity. Let’s break down three ways this is a win for homeowners.

    1. Move-Up Opportunity

    With the rise in prices, homeowners naturally experience an increase in home equity. According to the Homeowner Equity Insights from CoreLogic,

    “In the first quarter of 2019, the average homeowner gained approximately $6,400 in equity during the past year.”

    This increase in profit means if homeowners decide to sell, they’ll be able to put their equity to work for them as they make plans to move up into their next home.

    2. Gain in Seller’s Profit

    ATTOM Data Solutions recently released their Q2 2019 Home Sales Report, indicating the seller’s profit jumped at one of the fastest rates since 2015. They said:

    “A look at the national numbers showed that U.S. homeowners who sold in the second quarter of 2019 realized an average home price gain since the original purchase of $67,500…the average home seller gain of $67,500 in Q2 2019 represented an average 33.9 percent return as a percentage of the original purchase price.”

    Looking at the amount paid when they bought their homes, and then the amount they received after selling, we can see that some homeowners were able to walk away with a significant gain.

    3. Out of a Negative Equity Situation

    Negative equity occurs when there is a decline in home value, an increase in mortgage debt, or both. Many families experienced these challenges over the last decade. According to the same report from CoreLogic,

    “U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $485.7 billion since the first quarter 2018, an increase of 5.6%, year over year.

    In the first quarter of 2019, the total number of mortgaged residential properties with negative equity decreased…to 2.2 million homes, or 4.1% of all mortgaged properties.”

    The good news is, many families have moved beyond a negative equity situation, and no longer owe more on their mortgage than the value of their home.

    Bottom Line

    If you’re a current homeowner, you may have more equity than you realize. Your equity can open the door to future opportunities, such as moving up to your dream home. Let’s get together to discuss your options and start to put your equity to work for you.


    Source: Michigan Real Estate Updates

    Island Private Frontage with Cabins – Incredible!

    1943 S Duck Bay Trl, Cedarville, MI 49719

    MOTIVATED SELLER – NOW IS THE TIME TO ACT – 8.4 Acres on Marquette Island with over 896 feet of private waterfront on Duck Bay in the Les Cheneaux Islands of Lake Huron. Land Contact Option Available. Seller will divide. 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: Seller will divide. Land Contract Terms Available.

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    Private Waterfront Gorgeous Home with 80 Acres

    1062 80th Ave Evart MI

    Incredible – 80 acres of amazing land with a large private lake, stunning completely renovated 3 bedroom 3 bath home with 2680 finished sqft, several out buildings, large pole barn with heated and insulated areas, separate well and more, near the home is also a nice shed – the perfect distance from the house for projects. All around the land are groomed trails, a running stream, established hunting sites, wonderful fishing, a place to get away from it all. The ”front yard” features an open field setting with several small stand alone cabins. This property is a one-of-a-kind, just far enough away to enjoy the quite, yet close enough to town to have natural gas heat and easy trips to the store for whatever you need. Shown by appointment only.

    1062 80th AVE, EVART MI DETAILS

    Open Sunday 2-4PM Gorgeous Caledonia Condo

    10048 S Crossroads Cir SE Caledonia MI 49316

    OPEN HOUSE AUGUST 11 SUNDAY 2-4PM

    This incredible 3 bedroom 2 ½ bath END unit overlooking a beautiful pond offers over 2146 finished sqft. Enjoy this peaceful setting with the completed four season room, and both an upper deck and finished lower patio. The light filled, spacious white kitchen, features abundant cabinet space, center island, granite counter tops & tile backsplash with stainless steel appliances. Continuing throughout the main floor you will find 2 bedrooms, main floor laundry, main floor master with private bath and walk-in closet, attached 2 stall garage, living room with cathedral ceilings and fireplace, 4 season room and beautiful deck with attached shade screens. The walkout lower level offers a large family room, 3rd bedroom and 2nd full bath, walkout to the covered patio, and over 700+ sqft of storage space. Enjoy the connecting Paul Henry walking/biking trails, and easy access to everyday living such as grocery, shopping, dining, entertainment and major roads for commuting.

    Thornapple River Waterfront Forest Hills Schools

    This is a rare opportunity offering an incredible location with sought-after Thornapple River frontage on “the pond” in Forest Hills School. With “great bones”, spacious room sizes and fabulous floor plan, this home offers the perfect opportunity to renovate the space into the home you have always dreamed of.

    140 Ft of private Thornapple River frontage. Nestled in the cove this 4 bedroom 3.5 bath home gives you all the enjoyment of being on the wide open stretch of the Thornapple River ranked top in the area for water sports, yet the location provide tranquility not found anywhere else on the river. With quality fit and finish throughout this masterfully crafted walkout ranch provides vaulted cathedral ceiling featuring beautiful wood beams, parquet floor, solid wood cabinetry, over 700sqft of Trex composite decking, 2 fireplaces, 2 docks, gorgeous river views, multi-zone heating and cooling, updated mechanicals, gorgeous landscaping, main floor master, main floor laundry, a brilliant floor plan with large spacious rooms, ample storage space, 2 wet bars, attached 3 stall garage and more. 

    Gorgeous Thornapple River Private Frontage – Forest Hills Schools 5 Bedrooms

    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 easy proximity to everyday amenities such as shopping, dining, entertainment, and more.

    Mid-Year Housing Market Update: Three Things to Know Today

    Mid-Year Housing Market Update: Three Things to Know Today

    Mid-Year Housing Market Update: Three Things to Know Today | Simplifying The Market

    Shifting trends and industry-leading research are pointing toward some valuable projections about the status of the housing market for the rest of the year.

    If you’re thinking of buying or selling, or if you just want to know what experts are saying is on the horizon, here are the top three things to put on your radar as we head into the coming months:

    1. Home prices are appreciating at a more normal rate: Home prices have been appreciating for about ten years now. Experts at the Home Price Expectation Survey, Mortgage Bankers Association, Freddie Mac, and Fannie Mae are forecasting continued growth throughout the next year, although it should be leveling-off to normal appreciation (3.6%), as we move into 2020.
    2. Interest rates are low: Over the past 30 years, the average mortgage rate in the United States has been 8.27%, and rates even peaked as high as 18% in the 1980s. Today, at 3.81%, the rate is considerably lower than the historical 30-year average. Although experts predict it may climb into the low 4% range in the near future, that’s still remarkably lower than our running average, suggesting a great time to get more for your money over the life of your loan.
    3. An impending recession does not mean there will be a housing crash: Although expert research studies such as those found in the Duke Survey of American CFOs and the National Association of Business Economics, are pointing toward a recession beginning within the next 18 months, a potential recession isn’t expected to be driven by the housing industry. That means we likely won’t experience a devastating housing crash like the country felt in 2008. Expert financial analyst Morgan Housel tweeted:

    “An interesting thing is the widespread assumption that the next recession will be as bad as 2008. Natural to think that way, but, statistically, highly unlikely. Could be over before you realized it began.”

    In fact, during 3 of the 5 last U.S. recessions, housing prices actually appreciated:Mid-Year Housing Market Update: Three Things to Know Today | Simplifying The Market

    Bottom Line

    With prices appreciating and low interest rates available, it’s a perfect time to buy or sell a home. Let’s get together to discuss how you can take the next step in the exciting journey of homeownership.

    Source: Michigan Real Estate Updates

    Stunning Golf Course Luxury

    This stunning walkout ranch, masterfully crafted by West Michigan Award Winning builder BDR, boasts custom quality throughout. The gated community of Watermark offers the superb blend of privacy and convenience. The impressive exterior features gorgeous landscape and cascading water features, with the beautiful backdrop of the private pond and meticulously landscaped 6th green; providing stunning views all year long. Step inside to appreciate the sense of quality and grace that captures the essence of home. With main floor master suite, main floor laundry, 4 fireplaces, 4 bedrooms 3.5 baths, office, craft room, den, wet bar, screened-in porch, open patio and more -this home offers the perfect layout for everyday enjoyment and artful entertaining.

    Forest Hills Central – Popular Beard Farm Location 5 Bed 3.5 Bath 3 stall

    This beautifully designed 2 story home located in the popular Beard Farm development within the Forest Hills Central school district is perfectly located on a deep wooded lot; offering superb location and excellent floor plan. Featuring 5 spacious bedrooms, 3.5 baths, attached 3 stall garage and nearly an acre wooded lot. Several upgrades can be found throughout the house including new roof, newer furnace, freshly painted neutral color palette, upgraded R-34 insulation. Offering move-in ready living or an excellent opportunity to build upon the existing floor plan in a development surrounded by several larger homes that have recently been renovated. Well designed and quality constructed this home will not disappoint! Enjoy all the area has to offer including the Forest Hills Trails system offering miles of trails connected to the development, excellent access to major highways, shopping, entertainment, and more.

    Move In Ready! 900 Goodsell Otsego

    900 Goodsell Street, Otsego, MI 49078

    You will love this location and great floor plan set on a perfectly sized lot with fenced in back yard. With a total of 3 bedrooms, main floor laundry, main floor master suite with private bath, walk-in closet and cathedral ceiling, large living room, kitchen with center island and an attached 2 stall garage this home is sure to please! Outside offers a great storage shed, fenced in backyard, garden area, wonderful deck and brick paver patio, with LED color changing lights, and hot tub – perfect for entertaining. Offering many upgrades including whole home surge protector, new carpeting, new water heater, and more. With easy access to the highway (Kalamazoo, Allegan and Grand Rapids commutes are made easier) nearby, parks, schools, shopping and entertaining this house is ready for you!