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.
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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.
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.
Located in the top ranked Alger Heights neighborhood, this wonderful 4 bedroom well maintained tudor offers loads of character nestled on the beautiful tree lined boulevard. A few of the many charming characteristics include: hardwood floors, ample closet spaces, sunroom, fireplace, updated kitchen featuring: incredible Thermador range, Quartz counter tops, stainless appliances, 2.5 stall over sized garage, fenced in yard, and sidewalk lined streets. Be within walking distance to some of the area top ranked restaurants, plus the library, local hardware store and more. Excellent location for easy access to shopping, dining, entertainment and everything Grand Rapids has to offer. Open Sunday May 5, 2-4PM. Offers due Monday May 6 by 5PM.
The Enormous Divide Between the Headline and the Truth
“I have observed that not the man who hopes when others despair, but the man who despairs when others hope, is admired by a large class of persons as a sage.” – John Stuart Mill (1840s)
Even back in the mid-1800s, people knew that negative news sells. That is still true today. All forms of media realize that they will get more eyeballs, clicks, likes, and engagement by posting something negative. However, they must realize that negative headlines impact markets.
Just last week, the National Association of Home Builders released a survey revealing:
“Negative media reports making buyers cautious was a significant problem for 48% of builders in 2018, but 62% expect it to be a problem in 2019.”
Even today, good news is headlined with a negative spin in order to get attention. Here are two recent examples from mainstream media:
Actual Headline #1: Cash-out refis are back – will homes become ATMs again?
The real story: The headline is accurate – to a point. It is true that the percentage of refinances in which the homeowner received cash at the closing has increased to levels that existed in 2006. However, the actual amount of equity homeowners “cashed-out” compared to a decade ago isn’t close.
The dollar amount cashed-out last year was $63 billion. That seems like a really large number until we compare it to 2006, when homeowners cashed-out $321 billion. That is more than five times the current amount.
In 2006, people did use their homes as ATMs. They purchased new cars, boats, and lavish vacations. Today, the cashed-out equity is being used to consolidate debt, as seed capital for a new business, or to help a child with their college tuition.
Actual Headline: Consumer Debt hits $4 Trillion. Americans are diving deeper and deeper into debt.
The real story: The first sentence of the headline is accurate. The second sentence couldn’t be further from the truth. Total consumer debt is the highest it has ever been. That’s because the population continues to grow, and so does the economy (prices and wages).
The important number is how that total debt ranks as a percentage of disposable personal income. That percentage is the lowest ever recorded!! People are not “diving deeper and deeper into debt”. The exact opposite is true. They have less debt now than ever before.
If you are thinking about buying or selling a home, it is important that you have a true professional handling your real estate needs. Someone who knows the truth about the current economy and its potential impact on the housing market.
Source: Michigan Real Estate Updates
2019 Spring Real Estate Update brought to you by John Rice REALTOR Berkshire Hathaway HomeServices
Spring is a time for action. Time to shake off winter and put it behind us.
This is time of year when you and your neighbors will be placing your homes on the market. So how do you win? How do you capture the buyers interest?
Time and again the #1 most important improvement you can make to add WOW factor to your house and place it right in the HOME section of the buyers brain is to PAINT.
Today’s buyer is searching the internet and while doing so they are constantly being shown what the hottest design trends are in today’s home. From closets to kitchens, from bathrooms to garages, sheds to fascias – paint makes the difference.
Two key points to winning buyers and converting them to be the new owner:
- Color choice: Choosing a color that is appealing and current is key. Most paint stores work with design professionals and for a small fee they will have the design professional run a consultation with you and help you select the right color to really maximize impact and appeal.
- Professionals: Nothing turns a buyer off faster than drips on the walls color splash on the ceiling and messy trim…As a result hire a professional to do the painting. By hiring professionals you giving the buyer what they need to see: clean, fresh, move-in ready home(joy) vs a bad paint job they now have to paint over (pain)….
Need Inspiration? Many great sites offer wonderful examples for inspiration one of the best out there today is Sherwin Williams.
Consider these links for fun inspiration:
Not sure what else might have impact on buyers? That’s what we are here for!
With 4 bedrooms, 2 full baths, huge 3 stall garage and fenced in yard – this Kenowa Hills School District charmer is a rare opportunity! Excellent location, minutes from downtown Grand Rapids, and right around the corner from everyday amenities such as dining, shopping, entertainment and more. Several updates inside and out make this home truly move-in ready!
Real Estate = Strength
Last week, the National Association for Business Economics released their February 2019 Economic Policy Survey. The survey revealed that a majority of the panel believe an economic slowdown is in the near future:
“While only 10% of panelists expect a recession in 2019, 42% say a recession will happen in 2020, and 25% expect one in 2021.”
Their findings coincide with three previous surveys calling for a slowdown sometime in the next two years:
- The Pulsenomics Survey of Market Analysts
- The Wall Street Journal Survey of Economists
- The Duke University Survey of American CFOs
That raises the question: Will the real estate market be impacted like it was during the last recession?
A recession does not equal a housing crisis. According to the dictionary definition, a recession is:
“A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.”
During the last recession, prices fell dramatically because the housing collapse caused the recession. However, if we look at the previous four recessions, we can see that home values weren’t negatively impacted:
- January 1980 to July 1980: Home values rose 4.5%
- July 1981 to November 1982: Home values rose 1.9%
- July 1990 to March 1991: Home values fell less than 1%
- March 2001 to November 2001: Home values rose 4.8%
Most experts agree with Ralph McLaughlin, CoreLogic’s Deputy Chief Economist, who recently explained:
“There’s no reason to panic right now, even if we may be headed for a recession. We’re seeing a cooling of the housing market, but nothing that indicates a crash.”
The housing market is just “normalizing”. Inventory is starting to increase and home prices are finally stabilizing. This is a good thing for both buyers and sellers as we move forward.
If there is an economic slowdown in our near future, there is no need for fear to set in. As renowned financial analyst, Morgan Housel, recently 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.”
How will this impact your real estate plans? Let’s discuss. Reach out and we can talk the best course of action.
Source: Michigan Real Estate Updates
2 Reports That Say Now Is a Great Time to Sell
Heading into the spring buying market, there are strong trends starting to emerge.
The inventory of homes for sale has increased on a year-over-year basis for eight months in a row. Home price appreciation has continued to grow, although at a slower rate. The homeownership rate has reached heights last seen in 2014, with millennials and Generation X leading the way!
Let’s dive a little deeper into some of the recent reports that have been released and what they mean for the spring buying season!
National Association of Realtor’s Existing Home Sales Report
Sales of existing homes were down for the third consecutive month in January. Some of this can be explained by the natural seasonality that the real estate market experiences every year, and some can be explained even further by a lack of homes available for sale on the market.
For the last eight months, the inventory of homes for sale has been higher when compared to the same month the year before. The challenge in the market is the mismatch of the type of home that is available for sale. First-time homebuyers looking for a starter home are often competing with other buyers to stand out, often outbidding each other.
Lawrence Yun, NAR’s Chief Economist, agrees that the market is still experiencing an inventory shortage.
“In particular, the lower end of the market is experiencing a greater shortage, and more home construction is needed.”
The median home price for homes sold in January was $247,500. This is up 2.8% from January 2018 and marks the 83rd consecutive month of year-over-year gains. The 2.8% growth in home prices represents the smallest year-over-year change since February 2012 but is a welcome change for buyers who had feared being priced out of the market.
Days on the Market
Properties that sold in January were on the market for an average of 49 days with 38% of homes on the market for less than a month.
Yun is positive about how today’s market conditions will help buyers this spring,
“Existing home sales in January were weak compared to historical norms; however, they are likely to have reached a cyclical low. Moderating home prices combined with gains in household income will boost housing affordability, bringing more buyers to the market in the coming months.”
The national Pending Home Sales Index (PHSI) rose 4.6% to 103.2 in January from 98.7 in December. An index score of 100 is considered normal. All four major regions of the country experienced gains in January, with the largest increase coming in the South.
“The PHSI is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.”
Increases in the PHSI often predict increases in the level of home sales in the coming months, which is great news for the housing market leading in to spring! Yun had this to say,
“Homebuyers are now returning and taking advantage of lower interest rates, while a boost in inventory is also providing more choices for consumers.”
The housing market in 2019 will require homeowners to list their house at the right price to attract buyers. If interest rates continue to stay low while wages increase, and more inventory comes to market, 2019 could be one of the best years for home sales in recent history.
Source: Michigan Real Estate Updates