Archive | Real Estate Updates

    3888 Goodwood Dr Se, Thornapple River Forest Hills Schools

    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. 

    Top 4 Renovations for the Greatest Return on Investment! [INFOGRAPHIC]

     

    Top 4 Renovations for the Greatest Return on Investment! [INFOGRAPHIC]

    Top 4 Renovations for the Greatest Return on Investment! [INFOGRAPHIC] | Simplifying The Market

    Top 4 Renovations for the Greatest Return on Investment! [INFOGRAPHIC] | Simplifying The Market

     

    Some Highlights:

    • If you are planning on listing your house for sale this year, these four home improvement projects will net you the most Return on Investment (ROI).
    • Minor renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.
    • Whether you plan to stay in your house for a long time or just a few years, it’s smart to know which home renovations add the most value.

    Not every home needs a renovation before listing. Often times a few small changes go a long way.  To know the best approach – let’s talk on the best way to have the market work in your favor.


    Source: Michigan Real Estate Updates

    Time for Your Dream Home, Gen X!

     

    Time for Your Dream Home, Gen X!

    Time for Your Dream Home, Gen X! | Simplifying The Market

    During the housing market crash, Gen X homeowners lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices, and the recovery of the housing market are helping this generation to regain their lost wealth.

    According to Pew Research Center,

    Their fortunes have rebounded more than those of other generations during the post-recession economic expansion and as home and stock prices have risen. Since 2010, the median net worth of Gen X households has risen 115%. In fact, in 2016, the most recent year with available data, the net worth of a typical Gen X household had surpassed what it was in 2007 ($84,200 vs. $63,400)”.

    The same report also mentioned,

    15% of Gen X’s homeowners were ‘underwater’ on their homes in 2010 (meaning they owed more than they owned). By 2016 only 3% were underwater.

    As a result of homes regaining market value and their increasing net worth, many Gen Xers are presented with the opportunity of selling their current home in order to move up to the house they always dreamed of!

    According to the 2019 Home Buyers and Sellers Generational Trends Report by the National Associations of Realtors, in 2018 Gen Xers made up the second largest share of home buyers by generation at 24%.

    The report also provided some highlights about their purchase:

    • Greatest share that purchased a multi-generational home (16%).
    • Largest share that purchased a detached single-family home (88%).
    • Highest median household income ($111,100).
    • Bought the most expensive homes of all the generations.
    • Job-related relocation was identified as the primary reason to buy.

    But this generation is not only buying- they are selling too!

    • Largest share of home sellers (25%).
    • Highest median household income among sellers ($123,6000).
    • Tenure in the previous home was a median of 9 years.
    • House too small was indicated as the primary reason to sell.
    • 91% sold the home using a real estate professional.

    Bottom Line

    If you are a Gen Xer who would like to know exactly how much your house is worth today so you can move up to the home of your dreams, let’s get together to analyze your current circumstances.


    Source: Michigan Real Estate Updates

    7486 Alaska Ridge – Private Thornapple River – Forest Hills Schools

    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.

    2510 Shears Crossing – Forest Hills Blackberry at Shear’s Crossing

    Forest Hills Eastern Schools – Built by Engelsma Homes LLC as a 2008 Parade home, this quality built, stunning residence offers fit and finish beyond its price range; featuring attention to detail throughout. As you enter you will notice the grand entrance way featuring beautiful custom stairway setting the tone of quality you will see and feel throughout. The large formal dining area and wet bar offer the best in amenities and style for entertaining. The main level features hand-carved hardwood floors with French doors opening to the main floor den – a wonderful location for your personal library or office. The open living room and kitchen area features a large dining area that allows everyone in this space to comfortably enjoy the fireplace, surround speakers and the marvelous views of the over sized deck and professionally landscaped backyard. The kitchen offers granite counter tops, gorgeous all wood cabinetry featuring many gourmet features such as built-in oven, professional series range with power venting (enclosed in custom cabinetry) large center island with bar-height counter tops, recessed lighting, large pantry space with floor-to-ceiling storage. The large mudroom featuring built-in locker areas, custom built desk area with several additional cabinets for storage. The over sized 3 stall garage (38′ x 26′) is finished with an epoxy seal for easy cleaning, featuring hot and cold water, and raised cement step adding great function all year long. Upstairs you will appreciate the spacious master suite with 2 large walk-in closets, featuring custom all wood shelves, recessed ceiling with additional lighting, crown moulding, and wonderful use of windows allowing for maximum usage of both wall space and capturing natural light. The master bath features custom, multi-head, walk-in shower, dual raised vanities, large garden tub, and separate water closet. Additional upstairs bedrooms include 2 large bedrooms, each featuring ample closet space and a shared Jack-n-Jill bath, plus a large 3rd bedroom designed as a second separate suite with private bath, large closet, and attention to detail with custom recessed area perfect for a reading nook or to feature a favorite from your art collection. The landing offers a great shared space designed to accommodate a family computer area or open study. The walk-out lower level features 2 additional large bedrooms (one used as a work out area currently,) large living room, lower level wet bar with full sized refrigerator, surround sound system, and walk-in, humidity controlled wine cellar, an additional full bath, plus ample unfinished space for storage with built-in floor-to-ceiling shelving maximizing this space to its full potential. Outside you will appreciate the quite, cul-de-sac setting, reaching deep in the back, the fully landscaped oasis measures over .53 acres – on one of the largest lots in the Blackberry Development. The location is superb with access to sidewalks leading right to the Forest Hills Trails system right out your door, plus incredible surrounding amenities such as shopping, entertainment and easy highway, downtown and airport access.

    6527 Summer Shores Waterfront w 3 Stall Garage

    Welcome home! This updated 4 bedroom, 2.5 bath, 3 stall garage waterfront home is move-in ready. With contemporary flair, modern color palate, and amazing waterfront location this home is sure to please. You will love all the extras including the 11’x12′ storage shed, composite decking and vinyl deck rails, sandy beach, easy care dock and more….The 3 stall heated garage also has extra depth – deep enough for a couple motorcycles or your boat trailer – the 3rd stall is 30ft long! 1 year home warranty from America’s Home Shield included. Note: Co-listing agent, Bob Hayward, is seller and is licensed agent in the state of Michigan.

    What is Important to Boomers when Selling their House?

     

    What is Important to Boomers when Selling their House?

    What is Important to Boomers when Selling their House? | Simplifying The Market

    If you are a “baby boomer” (born between 1946 and 1964), you may be thinking about selling your current home. Your children may have finally moved out. Your large, four-bedroom house with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. You may be ready to move into a home that better fits your current lifestyle. Many fellow boomers have already made the move you may be considering.

    The National Association of Realtors recently released their 2019 Home Buyer and Seller Generational Report. The report revealed many interesting tidbits about both categories of baby boomers: younger boomers (ages 54 to 63) and older boomers (64 to72). Here are a few of the more interesting topics.

    Percentage of Buyers who Looked Online First

    • All Buyers: 44%
    • Younger Boomers: 46%
    • Older Boomers: 44%

    Where Boomers Found the Home They Purchased

    The two major ways buyers found the home they purchased:

    • All buyers: 50% on the internet, 28% through a real estate agent
    • Younger Boomers: 46% on the internet, 33% through a real estate agent
    • Older Boomers: 36% on the internet, 35% through a real estate agent

    Distance Seller Moved

    The distance between the home they purchased and the home they recently sold was much greater for boomers than the average seller.

    • All sellers: 20 miles
    • Younger Boomers: 27 miles
    • Older Boomers: 50 miles

    Tenure in Previous Home of Seller

    The percentage of older boomers who lived in their previous home for more than 20 years was almost twice the amount of the average seller.

    • All sellers: 16%
    • Younger Boomers: 20%
    • Older Boomers: 31%

    Primary Reason to Sell their Previous Home

    • Want to move closer to friends or family
    • Home too large
    • Retirement

    View of Homeownership as a Financial Investment

    • 83% of Younger Boomers see homeownership as a good investment
    • 82% of Older Boomers see homeownership as a good investment

    Bottom Line

    If you are a boomer and thinking about selling, now might be the time to contact us to help determine your options.


    Source: Michigan Real Estate Updates

    The Ultimate Truth about Housing Affordability

     

    The Ultimate Truth about Housing Affordability

    The Ultimate Truth about Housing Affordability | Simplifying The Market

    There have been many headlines decrying an “affordability crisis” in the residential real estate market. While it is true that buying a home is less affordable than it had been over the last ten years, we need to understand why and what that means.

    On a monthly basis, the National Association of Realtors (NAR), produces a Housing Affordability Index. According to NAR, the index…

    “…measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.”

    Their methodology states:

    “To interpret the indices, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment.”

    So, the higher the index, the more affordable it is to purchase a home. Here is a graph of the index going back to 1990:

    The Ultimate Truth about Housing Affordability | Simplifying The Market

    It is true that the index is lower today than any year from 2009 to 2017. However, we must realize the main reason homes were more affordable. That period of time immediately followed a housing crash and there were large numbers of distressed properties (foreclosures and short sales). Those properties were sold at large discounts.

    Today, the index is higher than any year from 1990 to 2008. Based on historic home affordability data, that means homes are more affordable right now than any other time besides the time following the housing crisis.

    With mortgage rates remaining low and wages finally increasing, we can see that it is MORE AFFORDABLE to purchase a home today than it was last year!

    Bottom Line

    With wages increasing, price appreciation moderating, and mortgage rates remaining near all-time lows, purchasing a home is a great move based on historic affordability numbers.


    Source: Michigan Real Estate Updates

    851 Pinnacle Run – Forest Hills Condo

    851 Pinnacle Run

    This beautifully updated townhouse offers everything you need to enjoy maintenance free living. Gorgeous kitchen featuring quartz counter tops, eating area, open to the vaulted ceiling great room with fireplace, sliders to both and upper and lower deck – the views here are incredible. The 1/2 bath, pantry, laundry area and 2 stall attached garage all add to this convenient floor plan. The upper level features private master suite with walk-in closet, private bath with walk-in shower, double vanity and tile floors, and a 2nd bedroom and 2nd full bath on this level. The walkout level features 3rd bedroom 3rd full bath, living room and storage area. The Pinnacle offers an excellent location close to everyday amenities and within walking distance of the Reeds Lake and Forest Hills trails.