Author Archive | JOHN RICE ASSOCIATE BROKER | REALTOR

    Excellent Waterfront Opportunity: Thornapple River Waterfront Forest Hills Schools

    This is a rare opportunity offering an incredible location with sought-after Thornapple River frontage on “the pond” in Forest Hills School. With “great bones”, spacious room sizes and fabulous floor plan, this home offers the perfect opportunity to renovate the space into the home you have always dreamed of.

    140 Ft of private Thornapple River frontage. Nestled in the cove this 4 bedroom 3.5 bath home gives you all the enjoyment of being on the wide open stretch of the Thornapple River ranked top in the area for water sports, yet the location provide tranquility not found anywhere else on the river. With quality fit and finish throughout this masterfully crafted walkout ranch provides vaulted cathedral ceiling featuring beautiful wood beams, parquet floor, solid wood cabinetry, over 700sqft of Trex composite decking, 2 fireplaces, 2 docks, gorgeous river views, multi-zone heating and cooling, updated mechanicals, gorgeous landscaping, main floor master, main floor laundry, a brilliant floor plan with large spacious rooms, ample storage space, 2 wet bars, attached 3 stall garage and more. 

    How Does the Supply of Homes for Sale Impact Buyer Demand?

     

    How Does the Supply of Homes for Sale Impact Buyer Demand?

    How Does the Supply of Homes for Sale Impact Buyer Demand? | Simplifying The Market

    The latest edition of the Realtors Confidence Index from NAR sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand). Until the supply of homes for sale starts to meet buyer demand, prices will continue to rise.

    The price of any item is determined by supply, as well as the market’s demand for the item. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

    Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand).

    Buyer Demand

    The map below was created after asking the question: “How would you rate buyer traffic in your area?”How Does the Supply of Homes for Sale Impact Buyer Demand? | Simplifying The MarketThis is a National map.  If the Grand Rapids and Surrounding Areas had it’s own color it would be DARK BLUE (Very Strong) for the average house price and below (Roughly $268,000 for a single family home.)  The Grand Rapids region The darker the blue, the stronger the demand for homes is in that area. The survey shows that in 3 of the 50 U.S. states, buyer demand is now very strong; only 2 of the 50 states have a ‘weak’ demand. Overall, buyer demand is slightly lower than this time last year but remains strong.

    Seller Supply 

    The index also asked: “How would you rate seller traffic in your area?”

    The seller traffic is low (less homes on the market) in the light gray sections below – note Michigan is considered to have FEW homes on the market
    How Does the Supply of Homes for Sale Impact Buyer Demand? | Simplifying The Market
    As the map below shows, 18 states reported ‘weak’ seller traffic, 29 states and Washington, D.C. reported ‘stable’ seller traffic, and 3 states reported ‘strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are looking for homes.

    Bottom Line

    Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in our market now.


    Source: Michigan Real Estate Updates

    Investment Opportunity: Side by Side Duplex Heritage Hill Grand Rapids

    Fabulous Heritage Hill 2 Unit. Own in one of top ranked historical districts in the nation! This updated 2 unit home features 2 units each with 4 bedrooms, and 3 full baths – amazing! Identical units feature: main floor dining room, living room, updated kitchens, full basements with laundry (including washer and dryer) plus Upstairs hosts 4 full bedrooms. Large attic space, great for storage or owner occupant access. 2 stall garage, offers a great amenity to feature for future tenants or keep for yourself. Walking distance to everything you want! Appreciate this move-in-ready 2 unit with impressive cash flow and a perfect addition to your portfolio or operate as an owner occupied.

    Prime Development 15 Multi-Acre Sites – 1-15 Woodland Creek Trail

     

    Prime Development Opportunity with 15 lots, road, and more. This 40+ acre site condo community has been approved under the name of Wood Creek Farms Condominiums and features 15 multi-acre sites. Several of the sites are wooded with water frontage. Each site offers large building envelopes, well designed open space and each site perks! With Woodland Creek bordering the East and Little Thornapple River bordering the North, this development offers amazing opportunity to create a landscape future home owners will love. NOTE: The site has been well prepped including: underground drainage is completed along with underground electrical and landline phone installed to every lot, the first layers of road have been laid, initial well has been dug, and perk tests performed.

     

     

    7486 Alaska Ridge – Private Thornapple River – Forest Hills Schools

    Forest Hill Schools – Private Thornapple River frontage. This gorgeous Town & Country cedar home is surrounded by the natural beauty of hardwoods. Located on the open 6 mile stretch of the Thornapple River (all sports.) This home offers the best of rustic-lux. With soaring vaulted plank ceilings, stone fireplace, majestic views out every window, and quality finishes throughout every inch breathes the essence of home. The main floor master with luxuriously appointed on-suite, the additional bedrooms, finished garage loft space, and walk-out lower level each offer custom touches combining form, function and fun. Experience the peace of this location while appreciating its easy proximity to everyday amenities such as shopping, dining, entertainment, and more.

    Forest Hills Luxury Watermark Residence

    1860 WATERMARK Drive SE, Grand Rapids, MI 49546
    1860 Watermark

    This stunning walkout ranch, masterfully crafted by West Michigan Award Winning builder BDR, boasts custom quality throughout. The gated community of Watermark offers the superb blend of privacy and convenience. The impressive exterior features gorgeous landscape and cascading water features, with the beautiful backdrop of the private pond and meticulously landscaped 6th green; providing stunning views all year long. Step inside to appreciate the sense of quality and grace that captures the essence of home. With main floor master suite, main floor laundry, 4 fireplaces, 4 bedrooms 3.5 baths, office, craft room, den, wet bar, screened-in porch, open patio and more -this home offers the perfect layout for everyday enjoyment and artful entertaining.

    1860 WATERMARK Drive SE, Grand Rapids, MI 49546

    Should You Fix Your House Up or Sell Now?

     

    Should You Fix Your House Up or Sell Now?

    Should You Fix Your House Up or Sell Now? | Simplifying The Market

    If you’re thinking about remodeling your house before you list it, take a look at these three tips to help you decide if you really need to fix it up before you sell. The answer may surprise you.

    With the fall season upon us, change is in the air. For many families, children are growing up and moving out of the house, maybe leaving for college or taking a jump into the working world. Parents are finding themselves as empty nesters for the first time. The question inevitably arises: is it finally time to downsize?

    If you’re pondering that thought, you may also be wondering if you should fix-up your house before you sell it, or go straight to the market as-is, allowing a potential buyer to do the updates and remodeling. If you’re one of the many homeowners this camp, here are a few tips to help you decide which way to go.

    1. Analyze Your Market

    Understanding your market and the potential level of buyer interest and demand for your home is key and we are here to assist. Is your property currently in a seller’s market or a buyer’s market? Keep in mind this can change based on the price range and location of your home, too.  We also can provide some insight on what you can change or remodel, and how to declutter your house to make it attractive to the right buyer.

    2. Get an Inspector

    Right now, the average length of time a family stays in a home is between 9-10 years. That’s a little longer than the historical average, so if you’ve been living in your home for a while, it might be time to make some significant improvements. Think: electrical system, HVAC units, roof, siding, etc. An inspector can give you a better idea of the condition of your home, if it is up to current code standards, and recommendations on how to have your house ready before you put it on the market.

    3. Decide If You Need to Remodel

    You may also be thinking about driving buyer appeal with something like a kitchen or a bathroom remodel. If so, first dig into the market value of your home, and compare it to the actual cost of the remodel.  We can together assess if the remodel could assist in attracting the right buyer and then compare the cost of the remodel to the potential increase in buyer activity . Once you have those two factors narrowed down, you can to decide if a remodel will give you a return on your investment when you sell. Oftentimes, it is actually more advantageous to price your house to sell, list it competitively, and then let the buyer pick the colors they want for their bathroom tiles and the type of countertop they prefer. The 2019 Cost vs. Value Report in Remodeling Magazine compares the average cost for remodeling projects with the value those projects typically retain at resale.

    Bottom Line

    Nationwide, inventory is low, meaning there is less than the 6-month housing supply needed for a normal market. This drives buyer demand, creating a perfect time to sell. If you’re considering selling your house, let’s get together to help you confidently determine what will be the best choice for you and your family.


    Source: Michigan Real Estate Updates

    2277 Lee St SW – Commercial Retail Space For Sale

    Ample parking and excellent location

    Conveniently located within walking distance to popular Wyoming Park residential area, yet surrounded by supporting business 2277 Lee St SW offers ample parking, excellent opportunity for both location based walk-in business, and business driven consumers.

    The open interior floor plan offers a blank canvas of opportunity. With block constructed exterior walls, over 700 sqft interior space, 10ft average height, and forced air heating and cooling – this place is built with “great bones” and designed to be both energy and space efficient.

    Brief overview of the area with screenshot of google maps