Tag Archives | Grand Rapids Real Estate

    Grand Rapids area real estate. Information for the Grand Rapids Real Estate Market and surrounding West Michigan Area. Including new listings, relocation information, homes, condos, land, new construction and more. Berkshire Hathaway HomeServices, brought to you by the John Rice Real Estate Team.

    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.

     

     

    Top Priorities When Moving with Kids

    Top Priorities When Moving with Kids

    Top Priorities When Moving with Kids | Simplifying The Market

    According to the Pew Research Center, around 37% of U.S students will be going back to school soon and the rest have already started the new academic year. With school-aged children in your home, buying or selling a house can take on a whole different approach when it comes to finding the right size, location, school district, and more.

    Recently, the 2019 Moving with Kids Report from the National Association of Realtors®(NAR) studied “the different purchasing habits as well as seller preferences during the home buying and selling process.” This is what they found:

    When Purchasing a Home

    The major difference between the homebuyers who have children and those who do not is the importance of the neighborhood. In fact, 53% said the quality of the school district is an important factor when purchasing a home, and 50% select neighborhoods by the convenience to the schools.

    Buyers with children also purchase larger, detached single-family homes with 4 bedrooms and 2 full bathrooms at approximately 2,110 square feet.

    Furthermore, 26% noted how childcare expenses delayed the home-buying process and forced additional compromises: 31% in the size of the home, 24% in the price, and 18% in the distance from work.

    When Selling a Home

    Of those polled, 23% of buyers with children sold their home “very urgently,” and 46% indicated “somewhat urgently, within a reasonable time frame.” Selling with urgency can pressure sellers to accept offers that are not in their favor. Lawrence Yun, Chief Economist at NAR explains,

    “When buying or selling a home, exercising patience is beneficial, but in some cases – such as facing an upcoming school year or the outgrowing of a home – sellers find themselves rushed and forced to accept a less than ideal offer.”

    For sellers with children, 21% want a real estate professional to help them sell the home within a specific time frame, 20% at a competitive price, and 19% to market their home to potential buyers.

    Bottom Line

    Buying or selling a home can be driven by different priorities when you are also raising a family. If you’re a seller with children and looking to relocate, let’s get together to navigate the process in the most reasonable time frame for you and your family.


    Source: Michigan Real Estate Updates

    Top 5 Reasons Why Moving from Chicago to Grand Rapids, MI Is Popular

    Smith & Sons (3)

    Ranked as one of the 25 Best Places to Live in the U.S.in 2019 (U.S. News & World Report), Top Up and Coming Cities (Thrillist) along with countless other awards including The Top Five Most Popular Destinations for Millennials (The National Assocation of REALTORS), Best Places to Retire in the U.S. (U.S. News & World Report), Top Places to Raise a Family (Forbes.com) Grand Rapids, MI has really made a name for itself.

    But why are many new Grandrapidians (as Grand Rapids residents are known) moving here from Chicago?

    1. Location – (it’s a whole new world yet not too far from any Chicago family.)
      • From Grand Rapids to Chicago is about 2 hours and 45 minutes. A suburb of Chicago? Not quite, but the distance is certainly not long making “work at home – commute to CHI possible.” Plus it’s close enough where if there are fun things you enjoy about Chicago – it is very manageable to enjoy them.
      • Lake Michigan is about 25 minutes from Grand Rapids. Combined with over 10,000 inlet lakes, plus award winning rivers and streams – the water activities and beach enjoyment is endless.
      • Up North – for decades the “UP NORTH” area and lake shore area have been sought after playground for those from Chicago – imagine having that within a short drive of right out your own backyard!
    2. Getting Ahead – having your dollar go farther is always advantage no matter what your stage of life.
      • The Cost of Living average for Grand Rapids 92.7 ( as noted on bestplaces.com ) compared to Chicago cost of living at 117.8
        (also found on bestplaces.com.) Cost of living index is measured on a scale of 100 – 100 being the national average. Those under 100 allow your dollar to go farther – those over 100 your dollar would not buy as much of the daily things for living.
    3. Travel Time – It has been said you can get anywhere in Grand Rapids in 20 minutes or less, across town, “outta town”, etc.
      • The average commute from a Chicago suburb to downtown Chicago is currently about 60-75 minutes – without traffic. those of you that have experience know it can be closer to about 2 hours on some days – but even then unpredictable
      • Google maps is actually accurate for travel times in the Grand Rapids – why? Our traffic patterns are predictable and that allows for accurate projections on travel times.
    4. Entertainment – you mean people choose Grand Rapids over Chicago for entertainment?
      • Grand Rapids hosts an amazing array of cultural festivities. Frankly they are easy to attend, good entertainment value vs ticket price  and the downtown parking rates and availability have appeal.
      • From Beach towns to Winter Wonders, Museums, Symphony, Live Theater, Opera, Broadway shows, and more….Check out an extensive list of things to do here:
    5. Jobs – Yes, Grand Rapids is home to several large corporations making the list of some of the top employers in the world, in a variety of industries with a multitude of career options.  Make such lists as #1 – Mid-Sized Metro for Economic Growth Potential (Business Facilities),  Top Metro for Sustainable Development (Site Selection Magazine), Top Hiring Metro Areas in the U.S (Manpower.) Recently a job fair was held to attract new talent to the area where it was reported more than 1/3 of those attending where from Chicago and looking to move to Grand Rapids.

    Grand Rapids has a lot to offer.  Winning award after award in a variety of categories (for a great list of even more reasons by West Michigan check this out: The Right Place.) Think it might be right for you? Feel free to start exploring all Grand Rapids has to offer. Have questions? Just Ask – we’re known to be one of friendliest towns in the world as well!

    Originally drafted in Jan 2016, this blog post has become one of our top performing posts, organically appearing in numerous searching. Updated now August 30 2019 with fresh links and updated data. Enjoy!

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    What’s the Latest on Interest Rates?

    What’s the Latest on Interest Rates?

    What’s the Latest on Interest Rates? | Simplifying The Market

    Mortgage rates have fallen by over a full percentage point since Q4 of 2018, settling at near-historic lows. This is big news for buyers looking to get more for their money in the current housing market.
    What’s the Latest on Interest Rates? | Simplifying The Market
    According to Freddie Mac’s Primary Mortgage Market Survey,

    the 30-year fixed-rate mortgage (FRM) rate averaged 3.60 percent, the lowest it has been since November 2016.

    Sam Khater, Chief Economist at Freddie Mac, notes how this is great news for homebuyers. He states,

    “…consumer sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall.”

    As a potential buyer, the best thing you can do is work with a trusted advisor who can help you keep a close eye on how the market is changing. Relying on current expert advice is more important than ever when it comes to making a confident and informed decision for you and your family.

    Bottom Line

    Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home is on your short list of goals to achieve, let’s get together to determine your best move.

    Source: Michigan Real Estate Updates

    Waterfront Residence Minutes From Downtown

    Private lake frontage, minutes from downtown…This is a rare opportunity to own an impressive all-brick home of approximately 4,800 square feet on one of the most desirable streets in Grand Rapids. This home features a large frontage on Middleboro Lake (210 feet) and sits on 1.123 landscaped acres (3 lots)on a quiet-street with a cul-de-sac. There are 4 bedrooms and 3 full bathrooms, each of which has been remade and modernized during the past eight years. This home is just minutes to downtown, the Medical Mile, shopping, restaurants, and major highways….

    111 Middleboro Details

    Incredible Waterfront Contemporary

    Property Description

    Experience the best waterfront living in Grand Rapids. This gorgeous contemporary has been masterfully remodeled down to the studs to showcase majestic views of Thornapple River, unparalleled by any other stretch of the river. Located in the award winning Forest Hills Schools, this 4 bedroom, 4.5 bath home features all of the latest luxuries you desire in your new home. Custom gourmet kitchen with open floor plan and views into the dining area, large kitchen bar, living room with fireplace, large deck, and beyond over the water. This home is built to enjoy and entertain, featuring surround sound throughout, multiple built-in wet-bars, 3 private suites, and a 4th lower level bedroom and full bath combination.

    Tour this home in 3D now:

    6577 Burger Details

     

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

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

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

    1. Prices Will Continue to Rise

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

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

    2. Mortgage Interest Rates Are Projected to Increase

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

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

    3. Either Way, You Are Paying a Mortgage

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

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

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

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

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

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

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

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

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

    MESSAGE JOHN

    Source: Michigan Real Estate Updates

    Are Homebuyers Starting to Hit the ‘Pause’ Button?

    Are Homebuyers Starting to Hit the ‘Pause’ Button?

    Are Homebuyers Starting to Hit the ‘Pause’ Button? | Simplifying The Market

    For the last several years, buyer demand has far exceeded the housing supply available for sale. This low supply and high demand have led to home prices appreciating by an average of 6.2% annually since 2012.

    With this being said, three of the four major reports used to measure buyer activity have revealed that purchasing demand may be softening. Here are the four indices, how they measure demand (methodology), what their latest reports said, and a quick synopsis of the report.

    The Foot Traffic Report
    by the National Association of Realtors

    Methodology: Every month SentriLock, LLC provides NAR Research with data on the number of properties shown by a REALTOR®. Lockboxes made by SentriLock, LLC are used in roughly a third of home showings across the nation. Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.

    Latest Report: “Foot Traffic climbed 3.2 points to 55.8 mid-summer in July. Additionally, the diffusion index is higher than last year by 13.5 points. Despite a healthy economy and labor market, supply and new construction remains unable to keep up with buyer demand.”

    Synopsis: Buyer demand remains strong.

    The Showing Index
    by ShowingTime

    Methodology: The ShowingTime Showing Index® tracks the average number of buyer showings on active residential properties on a monthly basis, a highly reliable leading indicator of current and future demand trends.

    Latest Report: “Showing activity throughout the country increased by 0.3 percent year over year in July, the third consecutive month that the U.S. ShowingTime Showing Index recorded buyer interest deceleration compared to the previous year. The June 2018 figures revealed a 0.0 percent change in showing traffic from 2017, while May showed a 1.2 percent year-over-year increase. The 12-month average year-over-year increase was 4.6 percent.”

    Synopsis: Buyer demand is softening

    Realtors Confidence Index
    by the National Association of Realtors

    Methodology: The REALTORS Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions.

    Latest Report: “REALTORS reported slower homebuying activity in July 2018…The REALTORS® Buyer Traffic Index registered at 62, down from the same month one year ago (69). This is the fifth straight month (since March 2018) that Realtors reported a decline in buyer activity compared to conditions one year ago.”

    Synopsis: Buyer demand is softening

    The Real Estate Broker Survey
    in the ‘Z’ Report by Zelman and Associates (subscription needed)

    Methodology: Proprietary survey results of real estate executives.

    Latest Report: “While we continue to expect a resumption of growth in resale transactions on the back of easing inventory in 2019 and 2020, our real-time view into the market through our Real Estate Broker Survey does suggest that buyers have grown more discerning of late and a level of “pause” has taken hold in many large housing markets. Indicative of this, our broker contacts rated buyer demand at 69 on a 0-100 scale, still above average but down from 74 last year and representing the largest year-over-year decline in the two-year history of our survey.”

    Synopsis: Buyer demand is softening

    Bottom Line

    Again, three of the four most reliable measures of buyer activity are reporting that demand is softening. We had a strong buyers’ market directly after the housing crash which was immediately followed by a strong sellers’ market over the last six years.

    If demand continues to soften and supply begins to grow (as is projected to happen), we will return to a more neutral market which will favor neither buyers nor sellers. This “more normal” market will be better for real estate in the long term.

    Currently each price range has a different level of inventory and there are some seasonal norms that also come into play.  The best approach for you, largely depends on what you are trying to achieve and the price range and area you are considering.

    To better understand the best approach, reach out for your FREE STRATEGY SESSION:

    MESSAGE JOHN

    Source: Michigan Real Estate Updates

    Home Prices Have Appreciated 6.9% in 2018

    Home Prices Have Appreciated 6.9% in 2018

    Home Prices Have Appreciated 6.9% in 2018 | Simplifying The Market

    Between 1987 and 1999, which is often referred to as the ‘Pre-Bubble Period,’ home prices grew at an average of 3.6% according to the Home Price Expectation Survey.

    Every month, the economists at CoreLogic release the results of their Home Price Insights Report, which includes the actual year-over-year change in prices across the country and their predictions for the following year.

    The chart below shows the forecasted year-over-year prices for 2018 (predictions made in 2017). According to their predictions, the average appreciation over the course of 2018 should be 4.8%, which is still greater than the ‘normal’ appreciation of 3.6%.

    Home Prices Have Appreciated 6.9% in 2018 | Simplifying The Market

    If we layer in the actual price appreciation that has occurred this year, we can see that over the course of 2018, home prices have appreciated by an average of 6.9% and have outpaced projections all year!

    Home Prices Have Appreciated 6.9% in 2018 | Simplifying The Market

    What does this mean?

    The tale of today’s real estate market is one of low inventory, high demand, and rising prices. The forces at work can be simply explained with the theory of supply and demand. That being said, if a large supply of inventory were to come to the market, prices may start to appreciate closer to the forecasted rate which would STILL be greater than the historic norm!

    Bottom Line

    If you are a homeowner whose house no longer meets your needs, now may be a great time to list your home and capitalize on the equity you have gained over the last year to make a significant down payment on your next home!

    For more information on how best to your approach your goals:

    MESSAGE JOHN

    Source: Michigan Real Estate Updates

    4807 Firefly Grand Rapids MI 49525 – Stunning 4 Bed 3.5 Bath

    Welcome home, this stunning 4 Bedroom (plus an office) 3.5 bath home is the perfect of example of taking a great home and making it the ”best in class.” Quality construction by White Birch Builders shows throughout with rounded bull-nose corners, impeccable hardwood floors, quality materials, and superior floor plan – this house is a must see. From the master bathroom custom walk-in tile shower, jet tub, walk-in closet, to the lower level wet-bar guest suite, and entertainment area this house is sure to please. Outside features new 10×14 storage shed for all the extras and beautiful paverstone backyard oasis. This location offers easy access to shopping dining, entertainment, major highways, and is walking distance to Versluis Lake a 50 Acre Lake and the adjoining park.

     

    4807 FIREFLY DETAILS