Archive | Real Estate Updates

August 2022: Update on Greater Grand Rapids Michigan Real Estate Stats

How does 2022 compare to 2021 or even 2020/2019? The latest Market Trends report shows this market by the numbers. One such chart to highlight is the average sales price chart through August (the latest 30 day numbers.) The trend continues to have sales prices increase in value over past years. As we talked about in previous post we are seeing a trend of deceleration vs depreciation. The west Michigan market continues to be a sellers’ market and continues to show good appreciation.

Read the full report here: Market Trends Report August 2022

Sellers’ Market vs Buyers Market [INFOGRAPHIC]

Sellers’ Market, Buyers’ Market, Neutral Market…How are these things defined? If we look at the average time it takes to sell a home – that is the basis for establishing which market we are in.

Buyers’ Market = 7 months or longer on average to sell a home

Neutral Market = 6-7 Months on average to sell a home

Sellers’ Market – Less than 6 months to sell a home

So with that in mind let’s look at why it’s still a Sellers’ Market [INFOGRAPHIC]

Some Highlights

  • While buyer demand has moderated and housing supply has grown in recent months, it’s still a sellers’ market because inventory is low.
  • The latest data shows sellers continue to benefit from serious buyers and competitive offers. In July, the average home received 2.8 offers and 39% sold over the asking price.
  • You haven’t missed your opportunity to sell. Let’s connect to start the process today.

Source: Michigan Real Estate Updates

Condo close to it all: 2257 Radcliff Circle

Welcome to 2257 Radcliff Circle in Radcliff Village! Featuring 2 bedrooms, 3 full baths, finished basement, private primary bedroom with ensuite bath, attached garage, and 3 season room – this one is sure to please! Enjoy the wonderful setting amongst the trees, watching the birds and nature, yet be close to everything: Woodland Mall and Shops at Centerpoint, restaurants and entertainment, several local colleges and their many offerings to all ages, close to East Grand Rapids and much more! Schedule your tour today!

What’s Actually Happening with Home Prices Today?

What’s Actually Happening with Home Prices Today?

One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture.

Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today.

  • Appreciation is when home prices increase
  • Depreciation is when home prices decrease.
  • Deceleration is when home prices continue to appreciate, but at a slower or more moderate pace.

Experts agree that, nationally, what we’re seeing today is deceleration. That means home prices are appreciating, just not at the same pace they have over the past year. In 2021, data from CoreLogic tells us home prices appreciated by an average of 15% nationwide. And earlier this year, that appreciation was upward of 20%. This year, experts forecast home prices will appreciate at a decelerated pace of around 10 to 11%, on average.

The graph below uses the latest data from CoreLogic to help tell the story of how home prices are decelerating, but not depreciating so far this year.

As the green bars show, home prices appreciated between 19-20% year-over-year from January to March. But over the last few months, the pace of that appreciation has decelerated to 18%. This means price growth is still climbing compared to last year but at a slower rate.

Basically, this means, while moderating, home prices are still far above the norm, and we’d have to see a lot more deceleration to even fall in line with more typical rates of home price growth. That’s still not home price depreciation.

The big takeaway is home prices haven’t fallen or depreciated nationwide, they’re just decelerating or moderating. While some unique and overheated markets may see declines, nationally, home prices are forecast to appreciate. And when we look at the country as a whole, none of the experts project home prices will net depreciate or fall. They’re all projecting ongoing appreciation.

Bottom Line

If you have questions about what’s happening with home prices in our local area, let’s connect.

Source: Michigan Real Estate Updates

Top Real Estate Agent Grand Rapids Michigan Shares Tips for Houses For Sale

20 Tips For Selling Your Home

Consistently when meeting with clients who want to sell their home in Great Grand Rapids Michigan Area and the surrounding West Michigan Area, the number 1 question on their mind is:

“What are the top things I can do to my house right now to get it sold?”

Often this is followed with the thought of “for the most money” or “as fast as possible” or “both….”

Know that it does not need to be hard – or expensive.

Some simple details go a VERY long way in being successful in selling your home. Helping you net more money and helping it sell faster…..

Step 1: Use this handy check list to review your house:

top real estate agent grand rapids michigan 20 tips
Top real estate agent grand rapids Michigan 20 tips

Step 2: Don’t do the wrong stuff:

Countless times sellers have done the wrong improvements thinking there were helping their house and value only to find out it was the wrong idea.

An onsite visit, where we tour your home together can avoid this and help you maximize your sale.

Step 3: Connect to sell:

When listing your house for sale, your top goals will be the focus for right the strategy.

There are many small projects that you can do to ensure this happens!

An onsite visit will help us create specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help!

Many of the Greater Grand Rapids and West Michigan areas have unique selling features that can add value. Knowing the special nuances in each community will help maximize the potential impact. What are the features to look for in Forest Hills, Ada, Caledonia, on the Thornapple River, on Murray Lake, in East Grand Rapids, on Reeds Lake, in downtown Grand Rapids, in Byron Center, etc ? As we talk through your property we will also talk about how these community features affect the sale and audience.

Message me now and we can get started on achieving your goals!

About John Rice: Referrals from past clients, passion, and a drive to succeed have placed John Rice as a top ranked REALTOR in the Greater Grand Rapids, MI and West Michigan Areas. John Rice consistently ranks in the top 2% of Berkshire Hathaway HomeServices Real Estate agents nation wide. Using his exclusive HOMESt.A.R. approach, John Rice works with you as the seller to understand your goals and then together craft the best approach to achieving your real estate goals.

Top Real Estate Agent Grand Rapids Michigan Shares Tips for Houses For Sale…

Top Real Estate Agent Grand Rapids Michigan Shares Tips for Houses For Sale
20 Tips For Selling Your Home “What are the top things I can do to my house right now to get it

John Rice is hands down one of the best realtors in the Grand Rapids and surrounding areas. We have utilized him as our realtor on two separate occasions, once over 10 years ago, and again over the last several months to buy/sell. He is incredibly knowledgeable and uses his expertise to help guide you in your choices throughout the realty process. He is professional, kind, has impeccable attention to detail, responsive, and clearly loves what he does. Choose John for your realty needs…he is the best of the best!
Amanda W
We moved to the Grand Rapids area 11 years ago and John was very patient as we found our first home and made the experience absolutely seamless! When we were ready to sell and buy again we knew to reach out to John. As we remembered and appreciated, John is an absolute professional and was and advocate for our best interests at all times during this wild market. We found great value in our new home and he helped us get top dollar for our sale. Grateful to have him on our side though the whole process. You won’t be disappointed!
Lance W
We have worked with John to sell 1 home and buy 2 homes and he is an incredible realtor! He is professional, prompt with communication, honest and patient. We had quite the list for what we were looking for and John was always available to answer questions and get us in to look at a home. His knowledge and connections in the industry made both the buying and selling process go smoothly. We simply cannot recommend John enough!
Chase and Nicole O
We just want you to know how much we appreciated your competent service in listing and selling our home, much loved for the last 26 years. Your quiet confidence and patience were most helpful in getting to "SOLD." Doing so during the pandemic panic, at a time when you were obeying the governor's "stay at home" orders, amazed us. You may look like the mild mannered Clark Kent, but during the pandemic, you performed like Superman! Thank you,
John and Lydia T
We can’t say enough good things about John. He is an awesome realtor! We bought our home with his help and just recently sold it with his help. He is highly knowledgeable about the Grand Rapids area market and his expertise and professionalism has shown through both times we worked with him...John is a wonderful communicator and a genuine person. His sincerity has been evident in his commitment to making the purchase and sale experience as seamless and informed as possible. We consider ourselves incredibly fortunate to have worked with John and strongly recommend him without reservation!
E&T VanBuskirk
It was a wonderful experience working with John. His professionalism, honesty, experience, and knowledge of the Grand Rapids market, helped us in multiple ways. John sold our home in one day, was honest about what we could expect from offers, and was spot on. As we progressed toward finding our new home, again, he was extremely knowledgeable about the neighborhoods, home values, and history of the homes. We are more than happy to say, that he helped us find our dream home within our budget! Anything I needed, he was there through emails, texts, or phone calls. He definitely put in a lot of work for us. Without a doubt, I will ask for his assistance again when the time comes. Thank you John!
T&A Lascari
John helped us sell our house when we moved out of Grand Rapids 3 years ago and recently helped us purchase a new house when we moved back. He is very professional and knowledgeable of the area and market. I would recommend him to anyone looking to buy or sell.
S&K Weber
I honestly can't say enough good things about John. He has helped my family buy two homes and sell one home, and each time he has been knowledgeable, responsive, respectful, and has taken care of everything that we needed. I would recommend John - and only John - to anyone looking for a realtor and I know that he will give them the same service that he gave to me
T&A Osburn
Purchased and sold with John, he is: Professional, an extremely good communicator, precise, and acted on our behalf 24/7. He kept us up to date on listings for purchase and preparation advice for selling our home. He was knowledgeable about neighborhoods. Photography for sale of our house was impressive. We were appreciative of the guidance regarding making offers, inspections, when to list our home, writing contracts, detailed review and presentation of offers on our home and being realistic about our purchase of new home. Great experience, Great Realtor.
J&G Junod
My family and I were referred to John by my sister. ... I am not sure what we would have done without his help and guidance through both the selling and buying process...John is extremely professional, and you can tell that he loves his job and takes it very seriously. I would recommend him in a heartbeat!
M&J Helms
John is an excellent realtor! He was very kind, honest, professional and thorough throughout the entire process. My house sold within 24 hours. I highly recommend John Rice if you are considering selling your home!
Rebecca P
We chose John as our realtor...(h)e came to the listing appointment incredibly well prepared, had some great suggestions on better staging the home and followed through on every commitment. Even more important, we had a full price offer the first day on the market and ended up selling the house for about $10k above list price. I know it's easy to be pleased with and recommend a realtor when you sell above list, but John was thorough, professional, accessible and generally pleasant to be around. I would highly recommend John and his team to anyone with real estate needs.
D&M Grimes
John is a very professional and thoughtful realtor! He has quickly become our family realtor and we have done several transactions with him. As a industry professional he always brings his "A" game whether it's helping me with showings, consulting on potential projects, or the phenomenal value he brings as a listing agent. I strongly recommend John Rice and his team.
Eric and Sarah C
John Rice is the professional realtor you want in your corner when it comes to real estate investing. His experience, extensive contacts, and resources to get you into profitable deals makes him one of the best to work with in the real estate industry. We always use John Rice.
Rob D
"John really went to work for me. He SOLD my old home in 2 weeks and was patient with me as we looked for a new home. He really seems to understand the market and how to execute the whole deal. I would list with John in a heartbeat. If your considering buying or selling, John will make you very happy."
Jack & Stacey N
"When John Rice came to us our house had already been on the market for 2 years. We had almost given up hope of selling our house. Within 3 months John brought us two offers and our house was sold. He also helped us find our new house as well. We highly recommend John, whether your house is worth a little or a lot, John Rice will give you great personal and friendly service with the utmost professionalism."
Skip & Sara Coryell
It has been a GREAT experience working with the “Rice Team” while my wife and I were both selling our home and purchasing a new one. Great, because when working with them, they made us feel as though we were their most important clients. They were readily available when we had questions, which there were plenty, and they were very patient with us through the entire complex process of selling/purchasing our home, taking extra time to explain and making sure that we understood all of our options.
The Henry’s
The Rice team covered every angle to assure that the sale of our home took place in a timely and efficient manner, making this a pleasant experience.They were easily accessible and able to answer any questions that arose throughout the entire process. It was a great pleasure working with them and we will work with them again.
Justin & Jaime Beckstrom
Having moved 600 miles away before listing my place meant I needed someone who I could trust to take care of getting my home sold. John and Ashley went above and beyond. They really surprised me. They took care of the details I would have never thought of and more. The research they did before the listing was excellent, without it I would have sold my house for a lot less than what it’s worth. This was my third home and I can say that I have never had a better experience with a realtor. Thanks for everything!
R Richards
Dear John, I wanted to take a moment and thank you both for the professional way that you handled our listing. As you know our house had been on the market for a considerable length of time with a different realtor. Once we made the decision to switch realtors, Jason and I had told ourselves that we were going to interview many different realtors so we got the one that would be right for us. You were our first and only interview that we did. Your professionalism and amazing presentation blew us away and as you know we signed with you two on the spot. At the time of the listing it was early December and we all fully agreed that we needed to hang with this listing through the tough winter months and would really look forward to something positive happening in March. Within 5 days of signing with you, we had an offer and 3 weeks later, we were sitting at a closing table....Thank you again for helping us. Please know we will be referring you to anyone that is looking for a Realtor. Sincerely,
Jason & Christine
During the sale of our old farmhouse and purchase of a new property, John Rice was a skillful professional. His positive attitude was infectious and inspiring. He possesses a knowledge of the local market and industry trends that is encyclopedic. As a young physician, my schedule is very hectic. I am amazed at how quickly John was able to respond to my phone calls and correspondences at all times. He consistently answered any questions we had within a few hours (most often within minutes). He always made my wife and I feel like we were his only clients as he focused his attention on our sale. Of course, there are many Realtors who may share some of those aforementioned qualities. However, the thing that sets John Rice apart is his tangible desire to share in our vision and help us realize our family’s dream. My wife and I always had the sense that from the first day we met him, John understood us and really desired to help us achieve those life-long goals. Needless to say, I now enthusiastically refer him to all of my friends and family. To any physicians or health-care professionals who are interested in moving their practice to our blossoming medical community in West Michigan, I urge you to contact John Rice and make him your ally too! Sincerely,
Joshua D. Vander Lugt, MD
Medical Director of Emergency Services / Spectrum Health – Gerber Memorial
John was very professional and a pleasure to work with. He is very knowledgeable about the real estate business. All of our questions were answered that arose during our buying experience and he kept us well informed of the next steps in the process. I would recommend him to all of my friends and family as the realtor to use for any real estate transaction whether it is buying, selling or even renting a home.
Vera & Jeremy D

FOR SALE: 4+ Acre Wooded Lot, Ranch House with peaceful setting

Grand Haven Schools! This incredible opportunity offers main floor living, 4+ beautiful wooded acres, private frontage on Bear Creek, large lower level, 3 year old metal roof, attached 2 stall garage and more! Offering an excellent floor plan with large main floor primary with private attached ensuite bath, a 2nd bedroom and 2nd full bath, main floor laundry, kitchen with quality wood cabinets, granite counter tops and slider out to the sunroom – this home has a lot to offer and is ready for you to “make it your own.” The lower level features a ½ bath, rec room, several large storage areas, bonus room that could be a workout room or office, a large workshop, and an indoor archery range (or future wine storage, safe room etc- the space is a blank canvas.)  Take advantage of the “great bones”! Located just north of Lake Michigan Blvd making easy access to shopping, entertainment, commuting, several area parks, and just minutes from the lakeshore beaches!

Better than new 2 Story: 4194 Oak Timbers

Welcome to 4194 Oak Timbers in River Oaks! This better than new home has SO MUCH to offer! Including on the main you will find main floor primary with walk-in closet and private bath, private main floor office/den, excellent open kitchen and dining area, with soaring vaulted ceilings in the living room, 1/2bath, and access to both the 3 stall attached garage and the patio overlooking the private backyard. Upstairs offers 3 bedrooms and full bath and laundry. The daylight lower level offers finished rec room, exercise area, storage, and room for future 5th bedroom and 3rd full bath. River Oaks offers incredible acreage to enjoy – including a large wooded area with several acres right out your own back door. This lot offers incredible privacy and yet is close to everything you need; walking trails, sidewalks, Versluis Lake, not far from Knapps Corner. Easy commute to downtown GR and a quick trip to downtown Rockford and Ada. Schedule your tour today!

Move-in Ready 3 Bedroom – GREAT backyard!

Welcome to 11795 Haymeadow Ct! This 3 bedroom, 1.5 bath home is right around the corner from the Musketawa Trail system, Conklin Park, offers cul-de-sac location, and features an amazing lot! With 2 stall attached garage, finished basement with room for another bedroom and bathroom, storage and more – this home is sure to please! The main floor features an open floor plan between the kitchen, living room (with cathedral ceilings) and dining area – excellent for entertaining and enjoying everyday living. Enjoy move-in-ready space with today’s most popular colors throughout. Schedule your tour today!

STATS: July 2022 Market Trends

The latest Market Report, with up-to-date real estate data for Greater Grand Rapids MI Area is now in.
The Market Report offers insight into residential real estate sales activity and regional trends.
The market summary below lets you see sales activity for the prior month and year, along with current and past year-to-date statistics. The graphs cover several different aspects of the real estate market. Note how some of the graphs break out trends by price increments. Please contact me if you would like more information on your current market.

The average sales price is up 17.26% over that of last year and the trend continues for offers over list…