Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Feb. 1, 2019

The Cold Seasons Are a Great Time to Sell Your Home

Many people shun the idea of selling their home in the fall and winter. That could be a mistake.

In my 29 years of selling real estate, one of the most common things I hear from clients is that they’d rather not sell their home in the fall or winter. Most of them want to put it on the market in the spring.

Well, here’s the deal: There are fewer homes on the market in the fall and winter, so per supply and demand, a buyer has fewer options to choose from. But buyers are still looking in the fall; in fact, our numbers are pretty consistent. People who are transferring into the state for work, etc., usually do so right after Christmas, in January and February.

Since there will be buyers in the market and they’ll have fewer homes to choose from, you have a better chance of your property selling—and maybe for more money, due to competition from buyers in similar, motivated situations.

“Since there will be buyers in the market and they’ll have fewer homes to choose from, you have a better chance of your property selling.”

In the spring, the market is flooded with real estate, so a buyer will have more to choose from. When they have more options, it means your house has a smaller chance of selling. Even when it does, there isn’t as much pressure from buyers competing with each other, so you might even get less money for your home.

So ultimately, winter and fall can very well be the best times of year to sell your home. If you’d like to discuss this in more detail, reach out to me. We can figure out what your home is worth and how it would take to sell.

Posted in Market Updates
Jan. 16, 2019

Grand Rapids Ranks 3rd Best in Nation for First-Time Home Buyers

GRAND RAPIDS, MI - Lending Tree, an online lending company, has ranked the Grand Rapids real estate market as being the nation's third best for first-time home buyers.

Grand Rapids ranked third in the study, behind Little Rock, Ark. and Birmingham, Ala., according to the study, which reached its conclusion by looking at the credit data from the Federal Housing Administration (FHA) for home buyers in 100 U.S. housing markets.

Fifty-nine percent of home buyers in Grand Rapids qualified with less than prime credit ratings, according to the FHA statistics, according to the Lending Tree survey. That's an indicator of younger home buyers who have not yet established good credit ratings.

Grand Rapids home buyers also came up with lower down payments -- 22 percent of the amount paid by other borrowers, according to Lending Tree. The average down payment for a home in Grand Rapids was calculated at $32,434.

Brian Karimzad, vice president of research at LendingTree, said the FHA statistics show how easy or difficult it can be for first-time home buyers to compete for houses when they go on the market.

Twelve of the top 15 cities in the survey were in Michigan, Ohio and Pennsylvania. "Access for first-time home buyers is great as home prices have not outpaced the growth in the economy and affordability is high," Lending Tree said.

The survey results jibe with other recent surveys that indicate millennials living in West Michigan are entering the housing market in larger numbers than many U.S. cities.

The average price of a home sold in the greater Grand Rapids area last year was $206,936, an 8.6 percent increase over 2016, when the average home sold for $190,477, according to statistics gathered by the Grand Rapids Association of Realtors.

West Michigan Realtors struggled with low inventories last year as the number of homes sold fell 3 percent from 2016. Last year, Realtors reported 11,904 home sales throughout the region compared to 12,286 home sales in 2016.

Posted in Market Updates
July 31, 2017

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We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates