Tag Archives | #michiganrealestate

    HOMESt.A.R. – Exclusive Real Estate Approach

    Your needs are first and foremost.

    With time tested measures to ensure success, John Rice features the exclusive HOMESt.A.R.® process that allows us to provide the highest level service and to ensure best possible experience each step of the way.

    Having assisted hundreds of clients throughout the years, one thing has remained front and center for every single transaction – the client’s needs – YOUR NEEDS– are #1 – period.

    With this in mind the exclusive approach to ensuring your needs are met each step of the way and that the experience works to better your situation throughout the entire process.

    The HOMESt.A.R.® process in an overview:

    • St. = Strategy.
    • A. = ACTION.
    • R. = Results.

    Step 1 – Strategy.

    During the buying and/or selling process it is important to, in the words of Stephen Covey “begin with the end in mind.”Without a doubt no ship reaches its destination without a pre-navigated course. Step 1 is developing the proper strategy. Time and time again we hear horror stories of people who started without a plan and ended up wasting thousands. We are here to ensure that there are plans in place to get you to your end goal while maximizing your results.

    Step 2 – ACTION.

    With the right strategy now outlined and agreed upon – it is time for ACTION. During this phase the team is here to assist you for every real estate need. Acting quickly and efficiently to work the market in your favor. Being a highly productive team we are able to be accommodate your time frame, be available when you need us, and make certain each opportunity is developed to its full potential. Guiding, informing, and negotiating for you. Making sure we are staying on target with your goals, and adjusting the plan to accommodate your needs as needed.

    Step 3 – Results.

    It is our intent that every client can answer a resounding “YES” to these 3 questions upon achieving their real estate goals:

    • Did I maximize my real estate transaction? YES!
    • Did I minimize all potential risks? YES!
    • Did I obtain all the right negotiation points in my favor? YES!

    Working each step of the way toward obtaining your goals. Guiding you through the thick of the real estate transaction. Maximizing every opportunity to ensure you have all choices presented to you and that you are able to make an informed decision.

    Real estate is our passion, the successful completion of your real estate goal is our mission. As a result of our relentless pursuit for high customer satisfaction we have consistent 5 star reviews and an incredibly high number of repeat and referred clients.

    We welcome the opportunity to soon count you among our “clients” and look forward to hearing more about your real estate goals.

    To get started on your free strategy session, click the button below:

    MESSAGE JOHN

    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

     

    4 Reasons Why Fall Is A Great Time to Buy A Home!

    4 Reasons Why Fall Is A Great Time to Buy A Home!

    Here are four great reasons to consider buying a home today instead of waiting.

    1. Prices Will Continue to Rise

    CoreLogic’s latest Home Price Insights report reveals that home prices have appreciated by 6.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.1% over the next year.

    Home values will continue to appreciate for years. Waiting no longer makes sense.

    2. Mortgage Interest Rates Are Projected to Increase

    Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have already increased by half of a percentage point, to around 4.5% in 2018. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by half a percentage point to around 5.1% by this time next year.

    An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

    3. Either Way, You Are Paying a Mortgage

    There are some renters who have not yet purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

    As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home which you can then tap into later in life. As a renter, you guarantee your landlord is the person building that equity.

    Are you ready to put your housing cost to work for you?

    4. It’s Time to Move on with Your Life

    The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

    But what if they weren’t? Would you wait?

    Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

    If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

    How will these factors benefit your next move? Reach out and let’s discuss

    MESSAGE JOHN

    Source: Michigan Real Estate Updates

    What Does the Future Hold for Home Prices?

    What Does the Future Hold for Home Prices?

    What Does the Future Hold for Home Prices? | Simplifying The Market

    Home prices are at the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash?

    Let’s try to answer these questions based on what has happened in the past as well as what we know about the current real estate market.

    The Impact of Rising Interest Rates

    We explained earlier this year that rising mortgage rates have not negatively impacted home prices in the past and probably wouldn’t this time either. Freddie Mac’s comments were very direct:

    “In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”

    They were correct. So far this year, home values have continued to appreciate above normal historic percentages and it appears the gradual increase in rates has had little impact on prices.

    The Impact of an Economic Slowdown

    Many people fear that when the economy turns, we may see the same depreciation in home values as we did a decade ago.

    However, we recently reported that the same group of economists, real estate experts, and investment & market strategists who predicted the next recession will occur in the next 18-24 months have also projected that house prices will continue to appreciate for the next five years, albeit at smaller percentages.

    It Comes Down to Supply and Demand

    As always, home prices will be determined by the demand to purchase compared to the available inventory of homes for sale. For the last six years, demand has far exceeded the available supply which has resulted in the average annual appreciation to top 6% since 2012. That is far greater than the historic norm of 3.6% annual appreciation that we saw prior to the housing boom.

    There are currently small signs that housing inventory is slowly beginning to increase. Months supply of houses for sale matched last year’s numbers for the last two months after 37 consecutive months of decreasing inventory. New construction data has also shown positive signs that inventory will be increasing.

    As inventory begins to meet demand, we will see appreciation return to more normal levels. We are already seeing projections coming in lower than the 6.2% annual average we have seen more recently.

    CoreLogic is predicting that home values will appreciate by 5.1% over the next twelve months and the Home Price Expectation Survey calls for values to increase by 4.2% in 2019.

    Bottom Line

    Mark Fleming, Chief Economist at First American, explained it best:

    “We’re seeing the first indications that price appreciation may be slowing, but the underlying fundamental housing market conditions support a natural moderation of house prices rather than a sharp decline.”

    Where is your house headed? How about the area you are interested in moving too? Message John to find out:

    MESSAGE JOHN

    Source: Michigan Real Estate Updates

    Move-in Ready Home – 4175 Norman

    Wow! You are going to love this completely renovated, move-in ready home. BRAND NEW: All new kitchen with new kitchen cabinets, ceramic tiles (kitchen, dining, bathroom, tub, hallway), back splash, all new stainless appliances, professionally refinished hardwood floors, exterior and interior new paint, new carpet in the lower level, new driveway concrete, new landscaping/mulch, updated lighting, all new bathroom cabinets. Additionally within the last 2 years: installed new Trane furnace, new roof, and new deck. The wonderful backyard is fenced in and offers a large shed – perfect for storage or convert it into a outside entertainment area. Excellent location with easy access to shopping, dining, entertainment, and highways.

    4175 NORMAN DETAILS

    Top 3 Myths About Today’s Real Estate Market

     

    Top 3 Myths About Today’s Real Estate Market

    Top 3 Myths About Today’s Real Estate Market | Simplifying The Market

    There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a mortgage.

    Today, we want to try and clear the air by shedding some light on what’s causing some of these headlines, as well as what’s truly going on.

    Myth #1: We Are Headed for Another Housing Bubble

    Home prices have appreciated year-over-year for the last 76 straight months. Many areas of the country are at or near their peak prices achieved before the last housing bubble burst. This has many worried that we are headed towards another housing bubble.

    Reality: The biggest challenge facing today’s real estate market is a lack of homes for sale! Demand is strong, as many renters have come off the fence and are searching for their dream homes.

    Historically, a normal market requires a 6-month supply of inventory in order for prices to rise with the rate of inflation. According to the National Association of Realtors (NAR) there is currently a 4.3-month supply of inventory.

    The US housing market hasn’t had 6-months inventory since August 2012! The concept of supply and demand is what is driving home prices up!

    Myth #2: The Rumored Recession Will Lead to Another Housing Market Crash

    Economists and analysts know that the country has experienced economic growth for almost a decade. When this happens, they also know that a recession can’t be too far off. But what is a recession?

    Merriam-Webster defines a recession as “a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two consecutive quarters.”

    Reality: Recession DOES NOT equal housing crisis. Many people associate these two terms with one another because the last time we had a recession it was caused by a housing crisis. According to the Federal Reserve, over the last 40 years, there have been six recessions. In each of the previous five recessions, home values appreciated.

    Myth #3: There is an Affordability Crisis Looming

    Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.

    There are many different affordability indexes supported by different organizations that all measure different data. For this reason, there is a lot of confusion about what “affordable” actually means.

    The monthly cost of a home is determined by the home’s price and the interest rate on the mortgage used to purchase it. According to Freddie Mac, interest rates have risen from 3.95% in January to 4.59% just last week.

    Reality: As we mentioned earlier, home prices have appreciated year-over-year for the last 76 months, largely driven by high demand and low supply.

    According to a recent study by Zillow, the percentage of median income necessary to buy a home in today’s market (17.1%) is well below the mark reached in 1985 – 2000 (21%), as well as the mark reached in 2006 (25.4)! Interest rates would have to increase to 6% before buying a home would be less affordable than historical norms.

    The starter-home market has appreciated at higher levels (9.4% year-over-year) than any other market. One reason for this is the fact that many of the first-time buyers who have flocked to the starter-home market are being met with high competition. For some hopeful buyers, it may take more than a good offer to stand out from the crowd!

    Bottom Line

    There is a lot of confusion in today’s real estate market. If your future plans include buying or selling, reach out today and we can discuss the best ways to help guide you to the best decision for you and your family.

    MESSAGE JOHN

    Source: Michigan Real Estate Updates

    Rockford Schools – 4850 Cannon Woods Ct

    Nested on 2+ acres in the beautiful development of Cannon Highlands this gorgeous 2 story offers a peaceful oasis surrounded by nature. With 5 bedrooms 4 full baths, large windows and vaulted ceilings this home offers an abundance of natural light and exceptional nature views. The main floor master suite features walk-in closet, jacuzzi tub and custom walk-in shower, vaulted ceilings and more. Additionally the main floor offers a 2nd bedroom suite with accessible bath and shower with no-step access, office, large living room with vaulted ceilings, fireplace, & remodeled kitchen. Upstairs features 2 large bedrooms a 3rd full bath and superb reading nook overlooking the trees. The walkout lower level features built-in cedar sauna, ample storage, additional bedroom, living room and 4th bath With easy access to major highways, approximately 20 minutes to downtown Grand Rapids, close to Cannonsburg ski hill and several wonderful parks for year ’round fun.

     

    4850 CANNON WOODS CT DETAILS