Tag Archives | #housesforsale

    Incredible Waterfront Contemporary

    Property Description

    Experience the best waterfront living in Grand Rapids. This gorgeous contemporary has been masterfully remodeled down to the studs to showcase majestic views of Thornapple River, unparalleled by any other stretch of the river. Located in the award winning Forest Hills Schools, this 4 bedroom, 4.5 bath home features all of the latest luxuries you desire in your new home. Custom gourmet kitchen with open floor plan and views into the dining area, large kitchen bar, living room with fireplace, large deck, and beyond over the water. This home is built to enjoy and entertain, featuring surround sound throughout, multiple built-in wet-bars, 3 private suites, and a 4th lower level bedroom and full bath combination.

    Tour this home in 3D now:

    6577 Burger Details

     

    Are Homebuyers Starting to Hit the ‘Pause’ Button?

    Are Homebuyers Starting to Hit the ‘Pause’ Button?

    Are Homebuyers Starting to Hit the ‘Pause’ Button? | Simplifying The Market

    For the last several years, buyer demand has far exceeded the housing supply available for sale. This low supply and high demand have led to home prices appreciating by an average of 6.2% annually since 2012.

    With this being said, three of the four major reports used to measure buyer activity have revealed that purchasing demand may be softening. Here are the four indices, how they measure demand (methodology), what their latest reports said, and a quick synopsis of the report.

    The Foot Traffic Report
    by the National Association of Realtors

    Methodology: Every month SentriLock, LLC provides NAR Research with data on the number of properties shown by a REALTOR®. Lockboxes made by SentriLock, LLC are used in roughly a third of home showings across the nation. Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.

    Latest Report: “Foot Traffic climbed 3.2 points to 55.8 mid-summer in July. Additionally, the diffusion index is higher than last year by 13.5 points. Despite a healthy economy and labor market, supply and new construction remains unable to keep up with buyer demand.”

    Synopsis: Buyer demand remains strong.

    The Showing Index
    by ShowingTime

    Methodology: The ShowingTime Showing Index® tracks the average number of buyer showings on active residential properties on a monthly basis, a highly reliable leading indicator of current and future demand trends.

    Latest Report: “Showing activity throughout the country increased by 0.3 percent year over year in July, the third consecutive month that the U.S. ShowingTime Showing Index recorded buyer interest deceleration compared to the previous year. The June 2018 figures revealed a 0.0 percent change in showing traffic from 2017, while May showed a 1.2 percent year-over-year increase. The 12-month average year-over-year increase was 4.6 percent.”

    Synopsis: Buyer demand is softening

    Realtors Confidence Index
    by the National Association of Realtors

    Methodology: The REALTORS Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions.

    Latest Report: “REALTORS reported slower homebuying activity in July 2018…The REALTORS® Buyer Traffic Index registered at 62, down from the same month one year ago (69). This is the fifth straight month (since March 2018) that Realtors reported a decline in buyer activity compared to conditions one year ago.”

    Synopsis: Buyer demand is softening

    The Real Estate Broker Survey
    in the ‘Z’ Report by Zelman and Associates (subscription needed)

    Methodology: Proprietary survey results of real estate executives.

    Latest Report: “While we continue to expect a resumption of growth in resale transactions on the back of easing inventory in 2019 and 2020, our real-time view into the market through our Real Estate Broker Survey does suggest that buyers have grown more discerning of late and a level of “pause” has taken hold in many large housing markets. Indicative of this, our broker contacts rated buyer demand at 69 on a 0-100 scale, still above average but down from 74 last year and representing the largest year-over-year decline in the two-year history of our survey.”

    Synopsis: Buyer demand is softening

    Bottom Line

    Again, three of the four most reliable measures of buyer activity are reporting that demand is softening. We had a strong buyers’ market directly after the housing crash which was immediately followed by a strong sellers’ market over the last six years.

    If demand continues to soften and supply begins to grow (as is projected to happen), we will return to a more neutral market which will favor neither buyers nor sellers. This “more normal” market will be better for real estate in the long term.

    Currently each price range has a different level of inventory and there are some seasonal norms that also come into play.  The best approach for you, largely depends on what you are trying to achieve and the price range and area you are considering.

    To better understand the best approach, reach out for your FREE STRATEGY SESSION:

    MESSAGE JOHN

    Source: Michigan Real Estate Updates

    4807 Firefly Grand Rapids MI 49525 – Stunning 4 Bed 3.5 Bath

    Welcome home, this stunning 4 Bedroom (plus an office) 3.5 bath home is the perfect of example of taking a great home and making it the ”best in class.” Quality construction by White Birch Builders shows throughout with rounded bull-nose corners, impeccable hardwood floors, quality materials, and superior floor plan – this house is a must see. From the master bathroom custom walk-in tile shower, jet tub, walk-in closet, to the lower level wet-bar guest suite, and entertainment area this house is sure to please. Outside features new 10×14 storage shed for all the extras and beautiful paverstone backyard oasis. This location offers easy access to shopping dining, entertainment, major highways, and is walking distance to Versluis Lake a 50 Acre Lake and the adjoining park.

     

    4807 FIREFLY DETAILS

    House-Buying Power at Near-Historic Levels

    We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American reported that consumer “house-buying power” is at “near-historic levels.”

    Their index is based on three components:

    1. Median Household Income
    2. Mortgage Interest Rates
    3. Home Prices

    The report explains:

    “Changing incomes and interest rates either increase or decrease consumer house-buying power or affordability. When incomes rise and/or mortgage rates fall, consumer house-buying power increases.”

    Combining these three crucial pieces of the home purchasing process, First American created an index delineating the actual home-buying power that consumers have had dating back to 1991.

    Here is a graph comparing First American’s consumer house-buying power (blue area) to the actual median home price that year from the National Association of Realtors (yellow line).

    House-Buying Power at Near-Historic Levels | Simplifying The Market

    Consumer house-buyer power has been greater than the actual price of a home since 1991. And, the spread is larger over the last decade.

    Bottom Line

    Even though home prices are increasing rapidly and are now close to the values last seen a decade ago, the actual affordability of a home is much better now. As Chief Economist Mark Fleming explains in the report:

    “Though unadjusted house prices have risen to record highs, consumer house-buying power stands at near-historic levels, as well, signaling that real house prices are not even close to their historical peak.”

    Source: Michigan Real Estate Updates