mynewgrhome.com's blog

2011-01-18T06:42:00.004-05:00

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Podcast

2010-05-24T06:15:00.000-04:00

The latest National Association of Realtors podcast has been released. For the latest information on the national real estate market and great tips from experts, visit: www.mynewgrhome.com and click on the real estate podcast to listen. Enjoy!

Thank your lucky STARS!

2010-05-21T09:10:00.002-04:00

It’s a pleasure to report that the market is humming along at very Spring like pace. Buyers and Sellers both appear to be motivated enough to take action. Sellers are being reasonable on their demands for list price and buyers are picking up their searches for mid to late summer. Looking back to February there was talk that we may have an extremely slow summer after the expiration of the tax credit. However, while I don’t anticipate us breaking any records this summer, it does as seem as the fears of a complete market shut down were not justified. Why? Because real estate, specifically residential real estate, moves at the pace of life! When you’re a first time home buyer and you’re thinking about buying a home, but you have a wedding to plan, graduations to attend to, masters programs to apply for….etc, things get in the way of an April 30th deadline to get an extra $8k – but you’re still going to buy a home later that summer. The beauty is often, that home frees the owner of that home to buy the next level up and so the story goes. The second time home buyer (the move-up buyer) continues to expand their family, aspire for a larger home, etc…and the move-up recognizes that it’s a down market; they might not get as much for their home but the one they are buying is also heavily discounted! Lastly, the down sizing buyer; this is the class most affected by this down market. This is the class that is selling their home to the second home buyer at a discount and turning around a buying a condo or smaller home (usually less in price than their current home) so the percentage off the market norm has a greater affect on their net out of pocket cost – but they need to move or their desire to move outweighs the loss. And so the market goes.
The tail end of the market in April saw a heat up in homes under $165,000 (the heaviest of the first home buyer market) as a result this price range and below may experience a slight market decline (possibly 5%) in value, as some of the latest sales were boosted in value and desirability simply due to the $8k tax incentive offered by the tax credit.
Anticipate this summer to be steady, and pending any major changes in how banks are handling short sales and foreclosures, no real major dips in the market.

Info you need to know

2010-04-18T19:56:00.002-04:00

A real estate transaction is a big deal, no matter how many times you've bought or sold a home, you have to be prepared.

For buyers there are things to consider to ensure that you use your time wisely and the process goes smoothly and fun. Being prepared means that all that is left if enjoying the search. For great information check out: http://www.realtor.org/home_buyers_and_sellers/preparing_for_homeownership

For sellers, today's market is all about knowing who your target is and doing everything within your power to appeal to that target. For information visit the National Association of Realtors radio link on our homepage: www.mynewgrhome.com and also visit: http://www.houselogic.com/ the National Association of Realtors site for maintaining your home for great tips.

Year after year, real estate proves to be a smart investment, despite its recent downturn. People buy homes and sell homes all the time for many reasons some logical some emotional but one things for sure: there's only so much earth to go around and supply and demand are always good for the making of a strong investment over time.

Pending Home Sales Surge

2010-04-13T10:20:00.002-04:00

This is a great article from the National Association of Realtors economist:
http://www.realtor.org/press_room/news_releases/2010/04/phs_gain

The tax credit has done its job in sparking sales. With it expiring soon we'll have to see how the market reacts to life beyond the credit. At this point it seems as though we will be experiencing somewhat of a "normal" spring market - great news for those who are looking to sell their home yet this summer!

Time is of the Essence!

2010-04-05T11:20:00.002-04:00

The clock is ticking on the tax credit and continually, we are receiving more buyers looking to maximize the tax credit and take action prior to April 30th expiration. There is still time so if you are considering taking action there's no time like the present. One the items Ashley and I have been encouraging buyers to consider before they make a move is to get preapproved so that as soon as you find the home you are interested in, you are ready to write and are considered to the seller as a viable buyer. With the market heating up multiple offer situations are becoming more prevalent so being preapproved can make a big difference.

The Count Down

2010-03-29T07:19:00.003-04:00

April 30th is fast approaching. To date we've seen a strong up tick in activity but there are still some potential buyers out there banking on an extension, lower rates, lower home prices, etc. By April 30th a prospective buyer looking to take advantage of the current tax credit (either the "first time home buyer" or the buyer looking to sell and rebuy) must have an accepted purchase agreement signed by all parties. The offer does not need to close until June 30th but you must have your offer accepted by the end of April.
So how can you best get there from here?
1. Get preapproved - it doesn't cost you anything to get preapproved and then you'll know anticipated payments, and closing costs and what loan is best for your needs and a potential price range that's comfortable.
2. Meet with us to discuss your needs and wants in a home.
3. Tour homes - on average our clients will find the home they want after touring 25-30 homes. Why so few? Because we help them sort through all the ones they don't want prior to going out. Maximizing your time yet still allowing you tour an appropriate amount to feel good about your home purchase and understand what's out there.
4. Select the home our a short list of 3 or so you've narrowed it down to.
5. At this point we compile a market analysis for you so you can be educated and shown the numbers of the neighborhood - we go way beyond Zillow and tax records and also discuss the positive points for resale.
6. Make an offer - you're close at this point! We typically recommend its contingent upon professional inspections, ability to continue to have financing, and other items for the protection of the buyer.
7. Should everybody agree on price and terms, you've made it to the point you need to be at by April 30th.Whew!

The remaining steps can be done in between April 30th and close.
You can take advantage of this market, there are many loan options available and lots of homes to choose from. The time to act is now!

Be a part of the FRESH solution!

2010-03-21T13:48:00.003-04:00

Looking for way to increase what you can get out of your home? Everyone looks for ways to maximize the value of their home, but what about using your land for something of value and having a positive impact on your family and friends?

This spring and summer, consider planting a simple, edible, garden. This can be as simple or as large of a task as you are willing to undertake. Looking for the simple? Consider container gardening (planting edible herbs and plants such as tomatoes) in traditional pots. Bigger is never enough? Then consider, dedicating a section of your yard to a garden, either create a raised garden or till up the land and create an in ground garden. All solutions lead to ways you can use an extension of your homes value now. Consider, the additional benefits, you now have fresh vegetables for fun things like salsa - what a great reason to have a party or bring a gift to a friend.

Having an owning a home is about making the most of it, all of it, all the time. For more tips on gardening at home visit:

http://www.houselogic.com/articles/save-money-your-edible-garden/

Enjoy!

Like Golf? Free Golf for a Cause!

2010-03-14T17:16:00.006-04:00

It's that time of year again and the 23rd Annual Drive for Vision golf event is back in full swing! This year with an option for free golf! Check out the details and the latest updates at http://driveforvision.com/

Our Latest Newsletter!

2010-03-09T09:56:00.001-05:00

Our latest newsletter!

Information Packed Podcast - now available

2010-03-07T13:46:00.001-05:00

The latest National Association of Realtors podcast is out. Check out the link on our website at:

http://mynewgrhome.com/ (podcast on lower right)

This podcast is packed with information from national economist, current data, updated statistics, information on how to save the most you can and take advantage of today’s tax incentives. This is the a great source of information that is updated monthly.

The Time is Now!

2010-03-02T08:46:00.003-05:00

3 reasons to take action TODAY!:

1. As of today there are 61 days to secure a purchase agreement on a property to qualify for the first home buyer program AND as a current home owner the same expiration applies for the home you are planning to move to! When you consider it often takes 45 days of concentrated efforts to find a home – that means now is the time to take action.

2. What about the April 1st expiration of government support lower interest rates? Finding and securing that home NOW would allow you to place a rate lock on today’s low rates. Looking at an FHA mortgage? Processing times are almost certainly going to take longer the closer to April 30th we get. As a result there could be some processing time “back up.” If this is the case it means getting yours at the “front of the line” will be advantageous.

3. Prices in the market may experience a temporary “hardening” in the market the closer to April 30th we get – therefore taking action now makes sense before the market experiences any reason not to give you the best deal out there.

Sellers – thinking of taking advantage of one of the busiest buying markets we’ve seen in 3+ years? Now is the time to act. There IS time to have your home marketed properly to secure a purchase agreement. What’s your risk – it doesn’t sell and you’re still in the same boat you are now but potentially this push has burned through the next 18 months of buyers. What’s your gain? If you are thinking of selling within the next 12 months – now is the time to capture the artificial demand created by the tax credit – including the potential to hold closer to your list price based on the demand between now and April 30th.

Want to customize an action to weigh out your options? Contact us and we’ll work with you to maximize your achieving your goals.

The HEAT is ON!

2010-02-10T08:00:00.003-05:00

With it only being mid February you might think that there's plenty of time for a home buyer who qualifies for the tax credit to act. However, consider this: on average it take 60-75 days to find a home and close on it. That means we are closing in on the "point of no return" as Marty McFly use to say.

Just in the last week and half I have experienced not only an upturn in activity on the market but also multiple bid situations where in order to win the bid for the home the buyer needed to act fast & make good decisions on how the offer was written.

So how can you be sure to secure your bid?
1. Start looking now - don't delay, the longer you wait the more competition you'll have.
2. Get preapproved - if you were a seller who would you sell too? The buyer saying they would get proof they can buy the home in a couple of days or the buyer that says I am preapproved now, here's my letter of proof.....
3. Write a clean offer. Sure there are lots of ways to have the seller pay for a lot of items on behalf of the buyer, and there are instances where those requests are justified but often, the seller is reviewing the offer and adding up every request and noting what their bottom line line is. If you're competing against other buyers the seller will often choose the "cleanest" deal to counter or accept - forcing you out of the running.
4. Use a buyers agent, many first time home buyers are not aware of the real estate process ( see historical post, 9 step process (http://mynewgrhome.blogspot.com/2006_04_30_archive.html) When a home is listed the commission is set by the listing agent (the one with the sign in the yard) and the seller. The seller agrees to pay the agent a commission upon sale of the home. The listing agent then is take a portion of their commission and offers it out to the other agents if they sell the home. This allows you are a buyer to have someone working on your behalf, without having to pay a commission for their services. The seller is paying the commission regardless and the listing agent is motivated to sell that ONE house, where as your buyers agent is going to earn a commission regardless of the home they help you find. Therefore the buyers agent is motivated to help you find the best possible option for you. Ashley and I always say that we would never want to help someone into a home that we couldn't help them sell again when they are ready, this means taking into account all factors: is this a good home, purchased at a good price, in an area that should be marketable and desirable down the road?

Buying a home is fun and now with the additional tax credit you have plenty of incentive to "make the leap."

Contact us for options that could best fit your needs and to ask more questions. We're here as a resource to you!

Spring Market Here?

2010-01-06T14:55:00.003-05:00

Yes its true - this years Spring market is already heating up early. With the seasonal nature of the local market in combination with the tax incentive - the housing market is in position for a busy time ahead.

What does this mean to you? If you are going to be a seller in this market - get prepared now - even if you don't yet take action - at least you'll be ready. As a buyer - take advantage of sellers who have held onto the property over the slowest time of the year - they need you!

To take the next step and learn more - email us!

New Tax Credits Signed Into Law Now Not Just First Time Home Buyers!

2009-11-09T20:26:00.005-05:00

BREAKING NEWS: Obama Signs Homebuyer Tax Credit Extension

RISMEDIA, November 6, 2009—President Barack Obama has approved the first-time homebuyer tax credit extension which will extend the tax credit until April 30, 2010.The extension is part of a $24 billion economic stimulus bill that will extend the $8,000 tax credit for homebuyers who are purchasing their first home from the current November 30 deadline and expands the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate.The following details apply to the homebuyer tax credit expansion:

Who is Eligible
-First-time homebuyers, who are defined by the law as buyers who have not owned a principal residence during the three-year period prior to the purchase, may be eligible for up to an $8,000 tax credit.
-Existing homeowners who have been residing in their principal residence for five consecutive years out of the last eight and are purchasing a home to be their principal residence (“repeat buyer”), may be eligible for up to a $6,500 tax credit.-All U.S. citizens who file taxes are eligible to participate in the program.

Income LimitsHomebuyers who file as single or head-of-household taxpayers can claim the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers) if their modified adjusted gross income (MAGI) is less than $125,000.-For married couples filing a joint return, the combined income limit is $225,000.-Single or head-of-household taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit.-The credit is not available for single taxpayers whose MAGI is greater than $145,000 and married couples with a MAGI that exceeds $245,000.Effective Dates-

The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010.Types of Homes that Qualify-All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation home and rental property purchases do NOT qualify.Tax Credit is Refundable-A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.-For example:-A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).-A repeat buyer who owes $5,000 would pay nothing to the IRS and receive $1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).-All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return.Payback ProvisionsThe tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.

To learn how this will impact you and to determine your homes value and also learn about the amazing deals for your next home - call or email!

Top 5 Things to sell your home

2009-07-11T22:54:00.002-04:00

The Top 5 Steps To Help You Sell Your Home

With now through mid August being the strongest market of the year we are re-posting our blog post from Early Spring. This includes an informative outline of what a seller should consider before placing their home on the market.

Before placing your home on the market there are some considerations to make. Think back to when you purchased your home. How did it smell? How clean was it? Did this affect your opinion of how the home owners were keeping up the house? Often, a buyer will perceive what is seen on the surface as a reflection of how well you've cared for the house while living there. A clean house with well oiled doors and clean windows and cupboards that close is often perceived as a house that has been well cared for. With that in mind read on....

The Top 5 Steps To Help You Sell Your Home

So you’re thinking of placing your home on the market? Be sure to consider these 5 steps before the sign goes in the yard.

1. Curb Appeal: What does your home look like from the outside? Is it such that a buyer would want to come in? The buyers’ first impression is very important to drawing them to the interior of the home. Make sure your exterior is well manicured; cut the grass, trim the shrubs, eliminate weeds from cracks in pavement, scrub down the front door and wash all the windows. This shows the buyer how well you take care of your home.

2. Clutter Be Gone: Clear entryways and hallways making it easy for the buyers to move throughout your home. Clean off counter tops in bathrooms and kitchens and rid them of clutter. Take good inventory of items that can be given away or thrown away – shoving them a closet won’t help – buyers open closets and drawers too! Speaking of closets, organize them - showing ease of use and plenty of space. If you need to, consider renting a storage unit for off-season items.

3. Hammer & Nail: If there are small items around the house that need fixing correct them. A home that shows it’s been well maintained is received positively. If the cabinet door sticks, or there are areas that could use patching, consider doing these before you let the buyers in.

4. K.I.N.: Keep It Neutral! Paint is one of the least expensive ways to improve the appearance of a space. Buyers these days prefer light, neutral colors. While painting a room will not usually yield a higher sale price it can GREATLY assist in your home selling sooner. Dark paints can make a room look smaller and don’t reflect the light as well and stronger colors can inhibit many buyers from envisioning themselves living in the home.

5. Soap & Water: Cleaning can do wonders for the appeal of your home. Clean carpets, shine wood floors, scrub the tile and wipe down the baseboards –and that’s just the floors! Consider cleaning every inch of the bathrooms and replace the shower curtain if necessary. For the kitchen clean the cupboards and the both the stove top and the oven. When it comes to dusting replace your furnace filter first! Then dust away all those dust bunnies. By replacing your filter first you will have less of a likelihood of the dust returning so quickly.

By following these 5 steps you’re well on your way to having your home prepared. Now it’s time to call us and we'll walk through the home with "buyer eyes" assisting you by pointing out items that a buyer may notice. Small corrections can go a LONG way!

$8000 in your pocket....

2009-02-22T22:25:00.002-05:00

The new stimulus bill has definite benefits for today's first time home buyer. This could mean great things for both first time home buyers AND sellers.

Buyers: If you are a first time home buyer and had heard of the $7500 tax credit (which was a 5 year interest free loan) you now have an upgraded offer: $up to $8000 in your pocket AND its not a loan! Yo can learn more about this at: http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home#taxcredit

Sellers: With today's market being an incredible buying opportunity, all sellers feel they are in the same boat shouting "Pick Me, Pick Me!!!" Well the great news is that buyers may have just been encourage to take action and do just that. For the West Michigan and Grand Rapids areas the "first time homes buyer market" primarily is at $175k and under. In some cases professional, dual income home buyers may touch upon $200k but we are seeing most stay at $175k and below. With the new $8k tax credit this buyer group has been called to action. Couple this with the banks making an effort to reduce the number of foreclosures on the market an the market could potentially loosen up over the next 6 months.

Lastly, for sellers in the mean time - prior to your home selling, you may consider a refinance. If so the stimulus bill may have something in it for you too. You can find our more at:
http://www.nytimes.com/interactive/2009/02/18/business/0218-housing-graphic.html

As always please feel free to email us your questions.

Happy New Year!

2008-12-27T11:40:00.002-05:00

Enjoy this time of reflection on 2008 and the wonderful new year that is to come.

For Ashley and I - we're excited about what is to come in 2009.

Stay tuned for our summary of the 2009 economic outlook, buyer incentives and many ways you can make 2009 work for you!

$7500 Tax Credit for you?

2008-08-08T09:03:00.001-04:00

Have you heard the latest news in home purchases? Now most individuals who have not owned a home in the last 3 years will qualify for a $7500 tax credit upon the purchase of a home. It's retroactive back to April 9 of 2008 until July 1 2009.

At a glance it breaks down like this:

The tax credit is available for first-time home buyers only. (The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. )*
The maximum credit amount is $7,500. *
The credit is available for homes purchased on or after April 9, 2008 and before July 1, 2009.*
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. *

*excerpts taken from the Federal Housing tax Credit website

What does this mean for you? It could mean $7500 taken directly off your income tax that you owe (see definition of income tax credit at http://www.federalhousingtaxcredit.com/faq.php#11 see #11)

To learn more about the Federal Housing Tax credit please visit their website at:http://www.federalhousingtaxcredit.com/index.html

If you're a first time home buyer now is the time to act! Not only do you currently get the $7500 tax credit as mentioned about but also the down payment assistance programs that have become so popular in recent history are going away. Meaning that if you intend to purchase a home with zero down action must be taken prior to September 30 of this year. Otherwise 3.5% will be required as a down payment. The details on this are slim at this point and I am hopeful something else will assist in allowing some home buyers to continue to purchase with zero or little down. I'll continue to update you on the progress of this.

If you would like more information regarding this program please contact me and I'll put you in touch with a lender who can answer your specific questions.

Foreclosures and Short Sales in Grand Rapids

2008-07-28T11:46:00.001-04:00

In today's market the term "short sale" & "foreclosure" not only are making headlines - they're making today's smart buyer money. West Michigan has seen a rise in it's foreclosure rate - in fact it doubled. Doubled? that's not as scary as it sounds; our market went from a historical foreclosure rate of 2% to 4% in recent times.
With 4% of the market in foreclosure what does that mean for today's buyer? It means 2 things 1. Foreclosed properties are often offered at a discounted rate to that of a traditional sale as they are owned by banks or the government - 2 parties who consider the home a liability not an asset and who wish to sell quickly.
2. Today's traditional seller (not in foreclosure) is having to compete against significantly reduced comparable properties.
As a buyer in today's market how do you capitalize on this current foreclosure trend? 3 things:
A. Get a buyers agent to assist you. No seriously this is not simply a sales pitch for business. here's why: Bank list their properties with listing agents who work for the bank- they represent the bank for a set commission rate. There is a commission offered to a buyers agent for helping the buyer find a home so they're motivated to help the buyer with the buyer having to pay. However there is typically not a discount on commission for going straight to the list agent. It doesn't save the buyer money and the agent with the sign in the yard is working for the seller. Second- foreclosure markets can run quickly - the top properties can sell in a matter of hours. Working with a buyers agent will get you the inside line on a home as soon as it hits the market or prior to the general public being aware of it.
B. Get pre-approved. Banks won't even look at your offer unless it's from a buyer who has been pre-approved.
C. Be informed. Banks want to dump the house as fast as possible but that doesn't discount your right to know what you are buying. ASIS doesn't mean you don't have the right to inspections and it also doesn't automatically mean that is something drastically wrong with the property. It does mean that the bank does not plan on fixing any issues you come across. However you can usually negotiate for those issues. Let's say you place an offer for $140k on a home that's on the market for $160k in foreclosure. After negotiating the offer is accepted at $145k. You have inspections and find you need a new roof which is estimated at $3500. You can then go back to the bank to look to renegotiate and get that $3500 off the purchase price. Of course the deal has to be written properly in the first place to ensure you reserve the right to do this but an agent that's use to dealing with foreclosures can assist with that.

Want to learn more? Contact us or plan to visit our net seminar.

Note to Buyers: Maximize Your Equity

2008-06-23T07:59:00.000-04:00

Question: What is the number one component to a home all buyers should seek in today's market?

Answer: The ability to increase equity. In a market where buyers are witnessing sellers bring thousands of dollars to the closing table - buyers are asking themselves "How can I avoid this when it's my turn to sell?" This is where the knowledge of a markets history is vital and knowing where to spend your dollars over the coming years after you've bought your home is key. What if you spent $30k on an indoor hot tub and dry sauna only to find out it's added no value to the next buyer and therefore it's money wasted? Knowing where to spend your money, how much potential improvements may cost you and what aspects of a home can and should be improved are key things to understand BEFORE you buy your home. Ashley and I recommend every buyer have an Exit Strategy Analysis completed before making an offer on a property. This analysis goes beyond market history to include potential market patterns, population & local economic factors affecting growth, and improvements tailored to the subject home that can identify equity maximizing improvements. Approaching the purchase of your home with your end goal in mind will assist you in your next purchase and will maximize your investment in real estate.

Want to learn more about an ESA (Exit Strategy Analysis)? Contact us.

Where have all the buyers gone....RIGHT HERE!

2008-06-23T07:55:00.000-04:00

Here's a trend I'm noticing strongly in today's market: fewer buyers are touring the home in person. Does this mean less showings? No! Actually it has lead to more showings. Because of the Internet, digital media and the amount of information now available online you can have thousands of showings in just a week, have 100s of people "walk" through your master bedroom room with out you ever having to have made the bed.
This is a trend that has been picking up speed for the last few years and now and , I believe, has reached its tipping point. With the amount of inventory on the market and a million demands on the buyers time (without factoring in the time left looking for a home) the virtual tours and digital media online are key to both the buyer and the seller. Most buyers today won't even consider viewing a home if there are not some pictures of it online (and more than just the required exterior photo.)
In conjunction with this trend is the higher number of attendees at open houses vs private showings. Buyers see the home online, take the virtual tour and then stop by the open house to decide if they are serious enough about it to take the next step. If not they feel as though they have inconvenienced no one and not felt any pressure from anyone. The flip side to this is of course there are only so many open houses one can do in a day and most open houses happen on Sunday so on order to tour 15 homes it will take a 30-45 days.
Which leads to trend #3: longer market time. Because of the buyers typical buying habits the decision time for the buyer has lengthened and therefore so has the time on the market for most home owners. Your potential future buyer may have toured your home at the first open house but it might take that buyer 45-60 days to realize yours is the one.
To learn more about how Ashley and I assist both the buyer and seller in capitalizing on these trends please contact us!

Real Estate Update - Action Required

2008-05-30T11:46:00.000-04:00

May 30, the week following the coveted Memorial Day weekend-the beginning of summer. For West Michigan this marks the time of year when summer festivals take over and the daylight lasts until late until the evening. This is also the time when the majority of those who going to buy a home this year, make their move. With the mark of the end of the school year, those who wish to be settled prior to the '08-'09 school will find their home over the next 3.5 months. Why is this important? This is the first year in recent history that new inventory coming on the market is less than the year prior plus interest rates are lower than they were last year at this time - this is the perfect blend to create a great market to make a move. With less inventory it could mean a slight firming of prices and with low interest rates it means more are able to afford a home that fits within an expanded budget. You combine these factors with CNN money report - see the last blog posting - and it's time to make your move.

The time is now....

2008-05-07T12:15:00.000-04:00

Yes now is the time to make your move and capitalize one of the top 10 fastest growing real estate markets in America. What, you haven't heard? Grand Rapids MI is making news. If you don't believe me see for yourself:

Cnn.com

The Patriot Ledger

The opportunities exist for single family purchases, investment and condos. If you'd like to learn more about how you can capitalize on these please contact me.

New Year - A Great Year for Grand Rapids?

2008-01-11T12:32:00.000-05:00

It's 2008 and the question I keep hearing from people is..."Will 2008 be better in the real estate market than 2007? " My answer is:

I do believe that 2008 will be a solid year for West Michigan and the Greater Grand Rapids Area Real Estate market. Why:

1. Rates just dropped again. Around 5.75 for a 30 year fixed currently. This is a tremendous rate that we have not seen for over 25 months. This often means that buyers are able to purchase their new home for the same monthly amount they're renting. That combined with point #2 below I believe will assist us here locally.
2. Pent -up demand. There are a lot of buyers that have been waiting for "the bottom", the "perfect home" the "best deal ever", etc. It's here. Sellers realize more than ever that they have a lot of competition. Because of this they are pricing their homes VERY well. Additionally, the buyer is able to sort through an ample selection of foreclosed homes and corporate relocation homes that sell at an extreme discount. Buyers also realize that these available foreclosures are not all the distressed properties of the past, but rather a lot of them are in good condition and in some cases only need paint!
3. West Michigan is booming....note the key word WEST. We hear candidates speaking of economic woes and "one state recessions" and assisting in putting Michigan "back on track." In large part they are referring to our state as a whole not the pocket of economic prosperity we on the West side have spent several decades creating. Now is our time to shine and our downtown Grand Rapids is booming! Could the area benefit from a more stable economy? Sure, but we're doing well on our own due to the foresight of our community leaders, the strong desire to put money back into the community, and our ability, to woo, capture, retain and build upon past, present and future economic forces. Due to the efforts of West Michigan we are seeing a revival of the downtown residential market and a heightened awareness of the downtown area. Additionally our areas like Heritage Hill have been featured in such nationally known papers as the New York Times - touting our amazing community and the spectacular "deals" that can be found here. Lastly, due to the medical boom downtown our area is expected to acquire 7 new jobs for every Doctor recruited to the area. As a result many of the suburbs will be seeing a rise in demand which will assist in flushing out some of the inventory currently on the market.
4. It's on SALE! Investors are taking note of a tri-fold phenomenon that will greatly assist their ability to make money now and in the future: 1. Rates are low (not just home owners get to capitalize on low rates but investors too) This helps them to establish low fixed costs 2. Properties are at extreme lows. Investors note that the current market is lower today than it was 12 months ago. Due in large part to the high volume of homes on the market, coupled with banks owning vacant rental properties (something a bank wants to dump as quickly as possible.) 3. More renters coming on the market. The Sub Prime Lending fall out has and will continue to make it harder certain would be homeowners to get a loan. As a result these potential buyers end up staying renters for a while (often 18 months or more.) Additionally, the high volume of foreclosures have lead to a higher number of past home owners who are now renters. The last note on section 4 is that investors realize that as the nation's economy improves the interest rates will increase. As interest rates increase it leads to rental increases because fewer renters can afford to purchase homes when the mortgage rates are higher. So for the investor, they are buying now to lock in low costs with the expectation that rents will increase.

Have questions about how the market is affecting your situation? Feel free to contact us and we'd be glad to talk with you about it!

Happy New Year!

The Bottom?

2007-08-13T16:17:00.001-04:00

Last week our Grand Rapids Press reported an article indicating that July sales were up 8.6% over that of July 2006. Also the report indicated that sales prices were lower than last year. My interpretation of the data is this: we've potentially seen the bottom of the market! Real estate pricing is driven by supply and demand. When you have more houses, then buyers - prices fall. Since prices have fallen, but demand has picked up, we could potentially look back at July in the next 6 months and see this as the bottom of the market. We'll all have to stay tuned to see - but my prediction is we're crawling out of our local real estate recession. Additionally, we need to consider that the remainder of the United States as been doing well economically for a couple of years now (hence the fed raising rates and other such things.) Michigan's economy typically lags behind that of the US by roughly 2 years because of how we as a state make our living. However, while the rest of Michigan continues to look for solid ground - West Michigan has gained it's traction and has really begun to show strong signs of moving ahead.Grand Rapids is a great place to live and our future is EXTREMELY bright! Take a drive downtown, uptown, NE, SE, SW, or NW and see the improvements constantly our city and surrounding areas are experiencing - it's a great place to be!Next posting - why buy or sell in the fall? Dispelling seasonal myths about real estate.

Great NW 3 Bedroom!

2007-08-13T16:15:00.000-04:00

Price: $157,900615 SplitrailGrand Rapids • MI • 49504MLS #: G602556 • Status: For Sale

Great NW 3 Bedroom Close to Downtown

Listing Information
Bedrooms: 3Property Sub Type: Single Family Bi-levelSquare Ft: 1759

Bathrooms: 2

Year Built: 1999

Listing Description
This beautiful maintained 3 bedroom 2 full bath NW side home is in move in condition and has plenty to offer! With school of choice you can choose Kenowa Hills or Grand Rapids schools. Upon entering you will notice the grand cathedral ceilings in the open living room, kitchen, and dining area. The natural light pours in through the large sliders out to your deck off the kitchen--perfect for grilling and enjoying the outdoors comfortably. The large open kitchen features a convenient center island and is a terrific setup for entertaining. The master bedroom features a welcoming environment with sunset views right from your bed and ample closet space. The finished walkout lower level features an enormous flex room that is perfect for a large family room.rec room or could easily be divided into a legal 4th bedroom. This also hosts a 3rd bedroom, large full bath, laundry area and storage. The lower level slider enter out into the lush backyard featuring professional landscaping, storage shed and patio. The 2 stall garage features cathedral ceiling allowing extra vertical storage capacity and has a open, finished appeal. Located just minutes from downtown, the Lincoln Golf Club and shopping and easy on/off to all the major highways this house is sure to please!

Great Cascade All Brick 2 Story!!

2007-08-13T16:11:00.000-04:00

Price: $149,9001018 EastmontGrand RApids • MI • 49546MLS #: 603299 • Status: For Sale

All Brick Forest Hills 2 Story!

Listing Information
Bedrooms: 3Property Sub Type: 2 Story Single FamilySquare Ft: 1443

Bathrooms: 1+Year Built: 1931

Listing Description
With 4 garage stalls, a newer roof and furnace, central air, all brick construction, 3 season porch, full basement and a great flowing floor plan - this house is a great investment! The large living room, formal dining room, stately fireplace, large upstairs living area and possible future expansion into the full basement add to this home of pure potential. Beautiful arches, plaster walls and built-ins are a showcase of early 20th century artistry. Locational bonuses include: a short walk to the grocery store and great dining, and only minutes from the highway and 28th Street. All this in the Forest Hills Schools district is sure to please! Also note that the vacant lot next store is available as a combined purchase under MLS G603304.

The Bottom?

2007-08-13T15:56:00.000-04:00

Last week our Grand Rapids Press reported an article indicating that July sales were up 8.6% over that of July 2006. Also the report indicated that sales prices were lower than last year. My interpretation of the data is this: we've potentially seen the bottom of the market! Real estate pricing is driven by supply and demand. When you have more houses, then buyers - prices fall. Since prices have fallen, but demand has picked up, we could potentially look back at July in the next 6 months and see this as the bottom of the market. We'll all have to stay tuned to see - but my prediction is we're crawling out of our local real estate recession. Additionally, we need to consider that the remainder of the United States as been doing well economically for a couple of years now (hence the fed raising rates and other such things.) Michigan's economy typically lags behind that of the US by roughly 2 years because of how we as a state make our living. However, while the rest of Michigan continues to look for solid ground - West Michigan has gained it's traction and has really begun to show strong signs of moving ahead.
Grand Rapids is a great place to live and our future is EXTREMELY bright! Take a drive downtown, uptown, NE, SE, SW, or NW and see the improvements constantly our city and surrounding areas are experiencing - it's a great place to be!
Next posting - why buy or sell in the fall? Dispelling seasonal myths about real estate.

Stunning Cascade Ranch!

2007-03-14T23:12:00.000-04:00

This exquisitely re-designed executive ranch is a true move-in master piece. With stone fireplace surrounded by peninsula of window walls with access to the large 3 sided deck overlooking private woods. The grand dining area and gorgeously custom crafted kitchen features stainless steel wine cooler, granite counter tops and professional grade stainless steel appliances. Bamboo hardwood flooring run throughout the main level living area and both raised and cathedral ceilings over-head. Main floor master-suite showcases large garment storage, sitting area, raised ceilings, beautifully crafted private master bath with heated tile floor, solid surface double vanity, garden tub and walk-in shower. Main floor laundry and large mud room with lockers are the perfect entry from the 3+ stall attached garage; featuring ample storage space on the main level and in the dry attic above. The grand curved stair case is your entry into the lower level; featuring, large family room with gas fireplace, large office, complete 3rd bedroom with walk-in closet. 3rd full bath, large 4th bedroom and additional storage area and utility room. New, beautiful landscaping surround the home with underground sprinkling on an easy to maintain 3/4 acre wooded lot. Additionally this home features, all new top quality windows through the home, new furnace, new air conditioners, care-free siding and beautiful stone accent.This home is all new inside and out with over 3,800 sq ft of private luxury.

Click here to tour this beautiful property!

Tierra Vista

2007-02-15T21:01:00.000-05:00

Rockford's premier executive home site development is now accepting reservations for a limited time. This wooded development with gently rolling hills is wonderfully located off Courtland Dr near Kies Rd and 10mile(see map). This central location offers the home owner access to ammenities unmatched by existing new developments including:

•Private wooded & pond-front lots

•Large common playground and nature preserve

•Beautifully landscaped entryway and common areas

•Close to Rockford High School, Middle School and Elementary School (Directly across from Meadow Ridge Elementary)

•Close to downtown Rockford and shopping

•Accessory buildings permitted

•Fences allowed
•County Grade Roads

•Easy Access to the White Pine Trail

•Entrance is buffered from major traffic roads

•30% homestead tax saving over City of Rockford taxes

•Easy access to 131 Highway and M-37 (Northland Dr) and M-44 (Belding Rd)

•Your choice of builder - or we will build for you

•City Water and City Sewer

For plat map and aerial images click here. This link will take you to tierravistahomes.com where you can expolore the entire development, choose your lot and learn about the great community surrounding this beautiful development.

Contact John Rice today to explore your options and choose your site.

Things are heating up!

2006-12-07T23:00:00.000-05:00

Things are heating up! For the first time in seemingly a long time, the buyer’s are on the move and they are doing what buyer’s are meant to do - buying homes! This is wonderful news for sellers! Finally many first time home buyers are recognizing the great deals this market has prepared for them and continued low rates are stimulating purchases. It may be some time due to market before the market has a whole feels this up tick but things are definitely headed in the right direction! With first home buyers acting now it would appear that the market may remain steady throughout the winter as first time home buyer’s are not usually as driven by the school year or deterred by inclement weather.
All in all I believe the trend is heading towards a steady up tick in the local market. Who know in 12 months time we may look back and realize September-November of 2006 was the low point. Only time will tell! In the mean time tell all your friends to call us about taking advantage of this potential! Enjoy the snow!

Leaves are falling and so are prices

2006-10-05T10:11:00.000-04:00

Sellers, more than ever, are realizing their need to drop their prices in order to sell their home faster than their competition. While a quick sale is not the goal of every seller, for many the quicker the better. Sales these days fall into two categories:
1. Those who need to sell quickly
2. Those who need to sell for their maximum potential.

In either case the house must be in it's tip-top shape before entering the market. Why? Because the first impression of the buyer must be "WOW!" and nothing else. If it's anything else they'll keep going.....

Okay, so that's the selling side. What about the buyers? They're out there and looking hard. This is the time of year when buyers really want to find they're place before winter. Home selection, like the fall colors, is at it's peak. For a buyer this is the time to choose and really "buy smart."

**Buyers - How do you know what's a good deal and what's the best way to go from start to finish? Click on the "Search for Homes" link to the right and learn about the best methods.

**Sellers - need more information? Click on the "Discover Your Home's Value" to the right and follow the instructions.

Enjoy!

The Top 5 Steps To Help You Sell Your Home

2006-09-15T11:47:00.000-04:00

With now through the Thanksgiving holiday being the second strongest market of the year we are reposting our blog post from Early Spring. This includes an informative outline of what a seller should consider before placing their home on the market.

Before placing your home on the market there are some considerations to make. Think back to when you purchased your home. How did it smell? How clean was it? Did this affect your opinion of how the home owners were keeping up the house? Often, a buyer will perceive what is seen on the surface as a reflection of how well you've cared for the house while living there. A clean house with well oiled doors and clean windows and cupboards that close is often perceived as a house that has been well cared for. With that in mind read on....

The Top 5 Steps To Help You Sell Your Home

So you’re thinking of placing your home on the market? Be sure to consider these 5 steps before the sign goes in the yard.

1. Curb Appeal: What does your home look like from the outside? Is it such that a buyer would want to come in? The buyers’ first impression is very important to drawing them to the interior of the home. Make sure your exterior is well manicured; cut the grass, trim the shrubs, eliminate weeds from cracks in pavement, scrub down the front door and wash all the windows. This shows the buyer how well you take care of your home.

2. Clutter Be Gone: Clear entryways and hallways making it easy for the buyers to move throughout your home. Clean off counter tops in bathrooms and kitchens and rid them of clutter. Take good inventory of items that can be given away or thrown away – shoving them a closet won’t help – buyers open closets and drawers too! Speaking of closets, organize them - showing ease of use and plenty of space. If you need to, consider renting a storage unit for off-season items.

3. Hammer & Nail: If there are small items around the house that need fixing correct them. A home that shows it’s been well maintained is received positively. If the cabinet door sticks, or there are areas that could use patching, consider doing these before you let the buyers in.

4. K.I.N.: Keep It Neutral! Paint is one of the least expensive ways to improve the appearance of a space. Buyers these days prefer light, neutral colors. While painting a room will not usually yield a higher sale price it can GREATLY assist in your home selling sooner. Dark paints can make a room look smaller and don’t reflect the light as well and stronger colors can inhibit many buyers from envisioning themselves living in the home.

5. Soap & Water: Cleaning can do wonders for the appeal of your home. Clean carpets, shine wood floors, scrub the tile and wipe down the baseboards –and that’s just the floors! Consider cleaning every inch of the bathrooms and replace the shower curtain if necessary. For the kitchen clean the cupboards and the both the stove top and the oven. When it comes to dusting replace your furnace filter first! Then dust away all those dust bunnies. By replacing your filter first you will have less of a likelihood of the dust returning so quickly.

By following these 5 steps you’re well on your way to having your home prepared. Now it’s time to call us and we'll walk through the home with "buyer eyes" assisting you by pointing out items that a buyer may notice. Small corrections can go a LONG way!

Enjoy the fruits of your labor!

2006-09-03T15:33:00.000-04:00

Labor Day not only marks the end of summer and time to get ready for fall but is a day rich in history.

"Labor Day differs in every essential way from the other holidays of the year in any country," said Samuel Gompers, founder and longtime president of the American Federation of Labor. "All other holidays are in a more or less degree connected with conflicts and battles of man's prowess over man, of strife and discord for greed and power, of glories achieved by one nation over another. Labor Day...is devoted to no man, living or dead, to no sect, race, or nation." to read more on the history of Labor day please feel free to check out: http://www.dol.gov/opa/aboutdol/laborday.htm

Enjoy your Holiday!

2006-09-03T15:21:00.000-04:00

Price: $108,900
3149-302 Poplar Creek Dr
Kentwood • MI • 49512
MLS #: 571046 •
Status: For Sale

Beautiful Kentwood Condo!

Listing Information
Bedrooms: 2
Property Sub Type: Condo ranch style
Square Ft: 1220

Bathrooms: 2Year Built: 1995

Listing Description
End unit! This is Poplar Creek living at its best! Beautiful cathedral ceiling condo with large den/study, 2 large bedrooms & 2 full baths. Private master suite hosts private bath, sitting area, 2 large closets & several windows. Covered deck, additional storage area, private main floor laundry room, huge 1.5 stall garage with raised ceilings for extra storage stand out as extras. It's in move-in condition with fresh paint & clean from top to bottom. Priced below SEV for a quick sale. All appliances remain. Truly an outstanding value surpassing all others in Poplar Creek.

Here they come!

2006-08-19T10:27:00.000-04:00

Everyone has been asking me ,"How's the market? I hear it's slow." It is.... for now. That's the key it's only temporary. I'm anticiapting a strong fall market (September and October) as there are several buyers out there waiting to make a decision. Here, locally, we've experienced a record breaking number of sunny days. Who wants to buy a house on a sunny day when you can go to the beach? Well in this buyers market it would be smart to buy - but most people seem to be choosing the beach until the sunny days are fewer - then they'll turn their attention to the housing market. Second, over the past 3-4 years many individuals across many price ranges have held back on taking vacations. Now it seems several people are taking those vacations. Meaning the buyers simply are not here enough to make a decision. With the school year and the end of summer on the horizon I anticiapte an increase in activity - so get ready sellers - the buyers are knocking!

Great Condo!

2006-08-05T22:48:00.000-04:00

Price: $108,500
8410 Jasonville Ct SE
Caledonia • MI • 49316
MLS #: 568844 •
Status: For Sale

Listing Information
Bedrooms: 2Property Sub Type: CondoSquare Ft: 1,162

Bathrooms: 2Year Built: 1998

Listing Description
Beautiful, spacious condo with cathedral ceilings, open kitchen, gas log fireplace, private, covered deck overlooking wooded sanctuary. Master suite includes walk-in closet, private bath and cathedral ceilings. All appliances remain including dishwasher, stove, refrigerator, washer/dryer. Condo amenities also include 1 1/2 stall private garage, and private storage area. Condo pool and fitness area are a definite bonus and conveniently located just down the sidewalk.

Fantastic SW Ranch!

2006-07-20T19:57:00.000-04:00

Price: $118,900
1728 Delwood Ave SW
Wyoming • MI • 49509
MLS #: 467439 •
Status: For Sale

Fantastic SW Ranch!

Listing Information
Bedrooms: 2Property Sub Type: RanchSquare Ft: 1418

Bathrooms: 2Year Built: 1950

Listing Description
This beautiful ranch home is sure to please with hardwood floors and new carpeting found throughout. Charm and character are accented by its large windows and great flow. Exceptional living room opens into a large kitchen with seperate eating area and spacious family room with fireplace. Lower level offers full bath with jet-jazcuzzi tub and large rec room along with storage galore! The exterior of the home is virtually maintenance free with newer roof, great siding, a large garage, wonderful shade trees and beautifully landscaped yard. This is truly a must see!

Gorgeous Ranch Style Condo!

2006-07-20T19:54:00.000-04:00

Gorgeous Ranch Style Condo!

Price: $186,500
3483 Old Elm Dr. SE
Kentwood • MI • 49512
MLS #: 566692 •
Status: For Sale

Listing Information
Bedrooms: 3Property Sub Type: Condominium- Ranch StyleSquare Ft: 1,947

Bathrooms: 2+Year Built: 1999

Listing Description
Enter your dream condo. Open foyer & cathedral ceilings in living room lead into a gorgeous, private, heated 4 season room (overlooking wooded area). Spacious European kitchen with eating area opens into the dining area. Main floor offers main floor laundry, cathedral ceiling master suite with enormous walk-in closet & private bath, & a 2nd large bedroom with raised ceilings. Finished daylight Lower level offers amazing carpentry beyond it's price range. Accent moldings, & the fit & finish are sure to impress. Lower level operates as its own in-law apartment with possible kitchenette, separate full bath, large family room, 3rd large bedroom with huge closet, & still room for storage or possible future expansion. This is a must see - hurry it won't last long!

Market Update

2006-07-09T18:35:00.000-04:00

Buyers and Sellers this is your time. Why both of you? Because from July to end of September is often the busiest selling season - so seller's it's time to get your house on the market. Buyers - it's your time too! Why? Because much of the greater Grand Rapids area remains a buyers market. With interest rates still on your side - yes they're still good rates !!!! Check with anyone who bought a home in the 80's (interest rates were over 12%- OUCH!) Plus, home valuations continue to rise and cost of new construction continues to rise BUT the cost of existing homes has remained relatively stable due to market saturation. About the only bad news for a buyers is that it's tough choosing from all these great homes for sale! Trust me - that's not really bad news - besides Ashley and I can help.

Our market observation? The homes with little needing to be done (i.e. cosmetic and structural) are selling the quickest. With new loan programs out there buyers are still able to purchase properties that need even major work and are able to roll the costs into their mortgage (ask us for the details on this one - our mortgage contact can help you and financing options vary by house and by person.) All in all the market is slower than we've seen in the past 3 years but homes are still selling. West Michigan remains the strongest section of our state and with new things on the horizon in downtown GR and surrounding areas - things remain positive.

Happy July 4th!

2006-07-01T21:40:00.000-04:00

Happy July 4th! Have a wonderful and safe holiday!

ITS THAT TIME OF YEAR
" It's that time of the year
for the red white and blue
They stand for freedom
in all you say and do
Show off those colors
for all the world to see
Fly them proudly over
the air the land and sea
We celebrate the birth
of our blessed country
It surely is indeed
the land of the free

HAPPY FOURTH OF JULY!! "
-author unknown

310 Scott Ave NW

2006-06-24T11:29:00.000-04:00

Price: $147,900

310 Scott Ave NW

Grand Rapids • MI • 49504

MLS #: G563629 •

Status: For Sale

Gorgeous NW 2 Story

--------------------------------------------------------------------------------

Listing Information

Bedrooms: 3

Property Sub Type: Single Family 2-Story

Square Ft: 1638

Bathrooms: 1+Year

Built: 1914

Listing Description

Gorgeous 3 bedroom, 1+ bath home located on a quiet tree-lined street. Spectacular porch located on the front of the home. Beautiful woodwork, built-ins found throughout the home. Gorgeous hardwood floors. Kitchen has been totally redone with plenty of cupboard/ counter space. Large dining room, spectacular sunroom/sitting room. Living room has lots of windows - allowing for natural light. All 3 bedrooms provide ample closet space - extra storage areas found throughout the home. New furnace & air conditioner, all appliances stay. Neutral colors - move in condition! This home is a MUST see!

John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546 616-974-6766

4527 Rumley Ct

2006-06-24T11:24:00.000-04:00

Description:Price: $299,900
4527 Rumley Ct. SWWyoming •
MI • 49418
MLS #: 553156 •
Status: For Sale

Spectacular Ranch- Grandville Schools!
--------------------------------------------------------------------------------
Listing Information
Bedrooms: 4
Property Sub Type: Ranch
Square Ft: 3,100
Bathrooms: 2+
Year Built: 2004

Listing Description

Fabulous custom quality home built by master carpenter Duane Huitema. The fit, finish and use of materials are beyond the price range. Features include: wooded cul-de-sac, 9 foot ceilings throughout, cathedral ceiling in great room, custom built cherry cabinets and trim, stainless appliances, Andersen tilt wash windows, custom closet details, TJI floor joists. blown in Nu-Wool insulation in walls and ceilings, and mud room with custom lockers.

John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546 616-974-6766

2111 Lake Dr East Grand Rapids

2006-06-17T23:27:00.000-04:00

Description:Price: $169,9002111 Lake Dr. SEEast Grand Rapids • MI • 49506MLS #: 563859 • Status: For SaleFantastic East Grand Rapids Home! --------------------------------------------------------------------------------Listing Information Bedrooms: 3Property Sub Type: 2-StorySquare Ft: 1,140Bathrooms: 2Year Built: 1921Listing Description Spectacular 3 bedroom, 2 bath home! This home features a great deal of character and charm. Curb appeal with beautiful landscaping. Large front porch. Gorgeous hardwood floors and a lot of exposed natural woodwork. Large living room and dining room - perfect for entertaining. 9 ft ceilings found on main level. Screened in porch located on back of home. Large master bedroom with ample closet space. 1+ stall garage. Low maintenance yard. Don't miss this EGR gem! John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546616-974-6766

4701 Brookmeadow Dr SE

2006-06-17T23:22:00.000-04:00

Description:
Price: $167,900
4701 Brookmeadow
Kentwood • MI • 49512
MLS #: 564107 • Status: For Sale

Fantastic Kentwood Home

--------------------------------------------------------------------------------

Listing Information
Bedrooms: 3
Property Sub Type: Single Family Mulit-level
Square Ft: 1916
Bathrooms: 2
Year Built: 1994

Listing Description
Fantastic home located on a quiet cul-de-sac. All new flooring throughout including, beautiful wood laminate floors found in living room & dining room, & brand new upgraded neutral carpeting. Cathedral ceiling on main level. Large windows allow for plenty of natural light. Large kitchen offers a great deal of cupboard space (all appliances stay). Master bedroom with french doors & large walk-in closet. Tile found in both bathrooms. Family room found in walk-out level with sliders to tiered deck. Large lot with underground sprinkling. Move in condition!

John Rice
Greenridge Realty
3435 Lake Eastbrook Blvd
Grand Rapids, MI 49546
616-974-6766

1532 Spicewood Ct SE

2006-06-17T23:17:00.000-04:00

Description:Price: $144,9001532 Spicewood Ct.Lowell • MI • 49331MLS #: 563750 • Status: For SaleGreat 2-Story in Lowell! --------------------------------------------------------------------------------Listing Information Bedrooms: 4Property Sub Type: 2-StorySquare Ft: 1,496Bathrooms: 1+Year Built: 1971Listing Description Fantastic 4 bedroom, 1+ bath home located on a quiet cul-de-sac. This home has a great layout! Gorgeous view! Large living room with beautiful picture window. Dining room with sliders to patio. All 4 bedrooms are large & provide plenty of closet/storage space. 2+ stall garage has plenty of room for storage. Large corner lot. Newer roof & air conditioner. All appliances stay. John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546616-974-6766

Interest Rate - "act now" mentality

2006-06-15T22:35:00.000-04:00

One the the most motivating factors in any purchase is knowing you'll get a better deal the faster you act. We've all seen it, interest rates are rising and in the long run they are expected to continue to move upwards. With this in mind buyers are begining to take advantage of money being "on sale" now and seeking to purchase before another rate hike. Secondarily, with the recent buyers market, buyers have been motivated to take advantage of buying now rather than waiting a few months or even a year or two. One of the strongest motivators for this activity is the idea that when you buy a more expensive house and you're obtaining 5% off list price (what the current GR market is bearing) it's a SLIDING scale. Imagine if you're selling your house for $185,000 - you might be giving up on average $9250 (5%.) However when you go to purchase your new home of $250,000 you have a high likely-hood of obtaining 5% off that one, $12500 (5%) You're ahead $3250. Factor in the competition that varies at different price levels and you may even be able to obtain even a higher percentage off.

Keep in mind that typically once you have selected your property your lender can "lock" your rate and you can be assured of getting the rate you've been promised. The next step then - pick a property. There's a lot to choose from but there's no reason to drag your selection out for ever. Your home will only be more expensive the longer you wait - assuming it's still there. Also, working with a experienced professional such as Ashley and myself will assist you in narrowing down your options and providing you with a selection of what you really want.

What do you think is likely to happen in your case? Call or email Ashley and I and we'll help you figure that out.

Activity is through the roof!!!

2006-06-02T16:22:00.000-04:00

Activity is up and people are showing up ready to buy! It's like the world of buyers woke up! Interest rates are still great but their upward trends have indicated to buyers that if they're going to be serious aobut buying they might as well do it now before they hike again. With Memorial Day now behind us, the Parade of Homes and Parade of Downtown Living either upon us or in the very near future, buying is "top of mind" for many.

The latest...The greatest time of year!

2006-06-02T16:08:00.000-04:00

I have sellers who wait all year to place their home on the market during this time of year. It's one of the BEST times of year to sell. With kids close to out of school and homes looking their best buyers are in search of their next home now before kids are back to school and the turkey's on the table.

As always, if you have questions email me: jrice@greenridge.com or post your comments

Buyer's Agency? What's that?

2006-05-21T22:55:00.000-04:00

What's the point in using an agent, I can find the home on my own.......

Sometimes this is what we hear. This can be a typical attitude of someone who is unaware of the home buying process and/or who feels comfortable searching the internet and seemingly finds the "house of their dreams." Usually, after talking with friends, neighbors or relatives of the horror of trying it alone, they look for someone to turn too. Other times, they don't findout until they go to resell their home that they overpaid because they bought it from an agent who was working for the seller!

Questions like: 1. How much is too much for this home? 2. What condition is it in? 3. How can I hold the seller accountable for what they say they're going to do before we buy it from them 4. I've heard it's a buyers market and there are a lot of homes to choose from - how can I narrow it down quickly and not waste all this time at open houses? 5. When I go to resell the home what are trends like in the area I should be aware of that could affect my resale?... the list goes on and on.

These are questions we answer several times a day. A typical buyer may purchase a home every 5 years on average, and purchase less than 4 homes over their entire life time. We, on the other hand, assist multiple home buyers per day - and experience matters when you talking about purchasing what could be the single largest asset you'll ever own.

Buyer's Agency is hiring a real estate agent to be on your side - not working for the seller (which is customary.) We work on your behalf to point out the answers to questions above and make the process smooth and headache free.

Everything from connections in various market places like landscapers, mortgage reps, movers, handymen, insurance agents, etc.; to negotiating the deal(price, terms, all the details); to assuring you're well aware of your homes history and any possible flaws and short comings BEFORE you purchase it - we're here to be ON YOUR SIDE. The best part is our fee has already been negotiated with the seller - you don't have to pay it - the seller does!

If you would like to learn more about the services we provide to our buyer's please visit here: Buyer's Info.

Market Trends

2006-05-17T14:48:00.000-04:00

The spring/summer market is upon us!! In a brief analysis of the current market we have more on the market than last year. Meaning on the whole the Grand Rapids area is leaning more towards a buyers market. However, sellers do not despair!! In a look back of the recent months it would appear the area has been on a steady uptick since last August - the apparent low spot. There is evidence of more sellers and neutral markets coming, and the buyers market ratios and slimming down. Often a great indication of what's to come is shown by the internet activity and activity is on the rise! February showed an average of 4800 viewers searching the public side of the GRAR.com (Grand Rapids Association of Realtors site) now, the latest for the most complete (April) month is just under 7000!

BEAUTIFUL SE GR RANCH!!!

2006-05-15T09:31:00.000-04:00

BEAUTIFUL SE GR RANCH!!!
Price: $179,900
651 Reynard
Grand Rapids • MI • 49507
MLS #: 555731
Status: For Sale

Bedrooms: 3 Bathrooms: 2
Property Sub Type: Ranch
Square Ft: 2502
Year Built: 1953

Listing Description
Absolutely stunning ranch located on a quiet tree-lined street in the heart of Alger Heights. You will be impressed with all the grand upgrades and surprises this home has to offer. Marble entryway, gorgeous hardwood floors, completely new and spectacular kitchen design by "Dimensions" with beautiful cherry cabinets, appliance garage and pantry. Large master bedroom has a redesigned deep and spacious closet by California closets. 2 large additional bedrooms host ample closet space. Living room on main level with gas fireplace, formal dining room. Large family room in basement with a 2nd wood burning fireplace. Gorgeous 4 season room with tile flooring. Every window has been replaced with quality Renewal by Andersen windows. Underground sprinkling, adorable playhouse, 2 3/4 stall garage with work bench, and storage shed. Roof, furnace, water heater, gutters, eaves--All newer and top of the line! Too many upgrades to list, you must get inside this amazing home.

Exceptional 3 Bd 2 Ba NE Home

2006-05-11T15:28:00.000-04:00

Exceptionally Clean and Well Cared for NE 3bd

Price: $157,900
1619 Edith Ave
Grand Rapids • MI • 49505
MLS #: 560449 •
Status: For Sale

Listing Information Bedrooms: 3Property Sub Type: Single Family - Bi-LevelSquare Ft: 1700Bathrooms: 2Year Built: 1996Listing Description Gorgeous 3 bedroom, 2 bath NE home. Appealing open/spacious floor plan with cathedral ceilings in living room. Beautiful maple kitchen with center island (all appliances stay). Large dining area located off from open kitchen. 3 large bedrooms with plenty of closet space. Neutral colors found throughout home. Walk-out lower level features family room with wet bar, bedroom, bathroom, laundry, & storage. This home has been well maintained & pride of ownership can be seen throughout.

John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546
616-974-6766

New in Rockford!

2006-05-11T15:26:00.000-04:00

Gorgeous 2 Story

Price: $244,900
7569 Cannon Run
Rockford • MI • 49341
MLS #: 560310 •
Status: For Sale

Listing Information Bedrooms: 4Property Sub Type: Single Family - 2 StorySquare Ft: 3000Bathrooms: 3+Year Built: 2002Listing Description Step into your dream home. With 9 foot ceilings, arched entryways, upgraded flooring including wood laminate, carpeting & tile this home has all the details. Built in 2002 with a newly finished walkout basement, this home features 4 bedrooms, 3+ baths & over 3,000 square feet of living space, plus storage. All the details have been included, fireplace in living room, center island in kitchen, laundry/utility thoughtfully located on the second floor & a terrific flowing floor plan. This is a must see, must have, home nestled in the heart of Cannon Farms, privately overlooking flowering fruit trees off the back deck & sidewalks out the front. Better than new construction with fully finished deck & patio, central air, finished basement & landscaping, plus all appliances are included, including washer & dryer. John Rice Greenridge Realty3435 Lake Eastbrook Blvd Grand Rapids, MI 49546616-974-6766

Market Update

2006-05-11T15:04:00.000-04:00

I've been talking with several people in the West Michigan area who have asked me "What's the market like? Is it as bad as the papers say?"

The good news is we, in West Michigan, are sitting better than much of the state and have seen a strengthening of the selling market as of late. We're not as robust of a market as in 2004 - but that's to be expected. You can not sustain record sales growth. The West Michigan market has continued to strengthen from what appears to have been the worst slump back in summer/early fall of '05. We're now in a stage of flushing out the market as we move into peak buying season. While the majority of the Grand Rapids and surrounding areas are still considered a "buyers' market" (a list to sales derived ratio) we continue to see an increase in "neutral market" (neither buyer or seller are favored) and even some "sellers' markets" are forming. This is a positive sign and one that should continue to assist in evening out the market.

An important consideration to remember during "buyers' market" times is that it's a sliding scale. The majority of sellers soon become buyers and naturally buy a home that costs more. While you may take a 5% hit on the house you're selling there is also a high likely hood of obtaining a 5% or more decrease on the one your are buying. For example if you list your home for $185,000 and you take a 5% hit to sell it you're taking a $9,250 loss. HOWEVER when you go to purchase you're new home for $$275,000 a 5% reduction here is $13750. You just kept an extra $4500 in your pocket!

To determine if you're in a sellers market or ways to potentially retain higher than 5% off your sale price please feel free to contact us for an individual analysis.

Moving from Apartment to home....

2006-05-05T22:50:00.000-04:00

So you're considering a move in home ownership? Then here are a few points to consider.

The Home Buying 9 Step Process:
The hardest part about the home buying process is often just knowing where to start. We hope that the steps outlined below will assist you in your journey toward home ownership.

Education - Call us for an individual appointment or attend our next Home Seminar. This will help you assess your readiness to buy or sell and identify techniques to help you find the home you want.
Review Your Budget – Budgeting your money is the second step in preparing for home ownership. Most consumers interested in purchasing a home need to save money for their down payment, closing costs and other expenses associated with moving and home maintenance. Several low down and zero down programs exist but may not be right for everyone - a conversation with your Realtor & mortgage lender will help with this decision.
Identify Loan Amount - Visit a lender and be pre-qualified for a mortgage loan.
Assess Your Needs - Identify the features in a home that will be most important to you and your family.
Work With a Real Estate Agent - Choose a Real Estate Agent to show you properties in your area.
Purchase and Sales Agreement - Your Real Estate Agent will help you to make an offer and negotiate a purchase price on a property. Be sure your offer is contingent on your ability to obtain the mortgage needed and any inspections you wish to have.
Inspection - Arrange for a professional home inspector to look at the property.
Complete Loan Package - Contact your mortgage lender to complete your application. Be sure to respond promptly to any requests from the lender for information.
Lender Approval - The lender’s formal approval of your loan request is called an “pre-approval letter.” Give a copy of this letter to your Realtor to confirm that you have complied with the terms of your contract with the seller.
Closing - At the closing, you will sign all of the mortgage documents and keys to your home from the seller (unless you've negotiated with the seller to allow them to stay longer.)
Congratulations, you are a home owner!

New in Rockford School District!

2006-05-04T15:27:00.000-04:00

2580 Winding Ridge Trail
Bedrooms: 3
Bathrooms: 3+
Property Sub Type: Single Family
RanchSquare Ft: 3200 (upto 5000 sq ft available)
Year Built: 1995

Listing Description
Quality custom built executive home on scenic 1.45 acre wooded lot. Located on a private, wooded, cul-de-sac. Artful, high-quality craftsmanship found throughout home. Beautiful living room with grand gas fireplace and cathedral ceilings. Inviting 4 season room overlooks spectacular wooded lot and picturesque landscaping. Gorgeous kitchen with dining area, center island, and ample cupboard/ counter space. Large master suite boasts spa shower with marble tile countertop. Lower level hosts family room with custom built-ins/ bookshelves, full bath, and over 1500 sq.ft. of unfinished space remains for expansion and storage(making it over 5000 sq. ft.) Whole house wired with surround sound system and fiber optics. This is an exquisite home and a must see!

The Top 5 Steps To Help You Sell Your Home

2006-05-03T17:17:00.000-04:00

Before placing your home on the market there are some considerations to make. Think back to when you purchased your home. How did it smell? How clean was it? Did this affect your opinion of how the home owners were keeping up the house? Often, a buyer will perceive what is seen on the surface as a reflection of how well you've cared for the house while living there. A clean house with well oiled doors and clean windows and cupboards that close is often perceived as a house that has been well cared for. With that in mind read on....

The Top 5 Steps To Help You Sell Your Home
So you’re thinking of placing your home on the market? Be sure to consider these 5 steps before the sign goes in the yard.
1. Curb Appeal: What does your home look like from the outside? Is it such that a buyer would want to come in? The buyers’ first impression is very important to drawing them to the interior of the home. Make sure your exterior is well manicured; cut the grass, trim the shrubs, eliminate weeds from cracks in pavement, scrub down the front door and wash all the windows. This shows the buyer how well you take care of your home.
2. Clutter Be Gone: Clear entryways and hallways making it easy for the buyers to move throughout your home. Clean off counter tops in bathrooms and kitchens and rid them of clutter. Take good inventory of items that can be given away or thrown away – shoving them a closet won’t help – buyers open closets and drawers too! Speaking of closets, organize them - showing ease of use and plenty of space. If you need to, consider renting a storage unit for off-season items.
3. Hammer & Nail: If there are small items around the house that need fixing correct them. A home that shows it’s been well maintained is received positively. If the cabinet door sticks, or there are areas that could use patching, consider doing these before you let the buyers in.
4. K.I.N.: Keep It Neutral! Paint is one of the least expensive ways to improve the appearance of a space. Buyers these days prefer light, neutral colors. While painting a room will not usually yield a higher sale price it can GREATLY assist in your home selling sooner. Dark paints can make a room look smaller and don’t reflect the light as well and stronger colors can inhibit many buyers from envisioning themselves living in the home.
5. Soap & Water: Cleaning can do wonders for the appeal of your home. Clean carpets, shine wood floors, scrub the tile and wipe down the baseboards –and that’s just the floors! Consider cleaning every inch of the bathrooms and replace the shower curtain if necessary. For the kitchen clean the cupboards and the both the stove top and the oven. When it comes to dusting replace your furnace filter first! Then dust away all those dust bunnies. By replacing your filter first you will have less of a likelihood of the dust returning so quickly.

By following these 5 steps you’re well on your way to having your home prepared. Now it’s time to call us and we'll walk through the home with "buyer eyes" assisting you by pointing out items that a buyer may notice. Small corrections can go a LONG way!

Welcome!

2006-05-02T16:21:00.000-04:00

Designed as the premier real estate blog spot, mynewgrhome.com's blog is here to serve you. If there are topics or issues you'd like to see discussed here please let us know! Otherwise we'll be covering a number of local real estate issues. Including, common housing issues, market issues, market updates, recent listing updates, Q&A common questions covered in our seminars, and anything else you send us! Please feel free to check it out and give us your feedback!