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GRAND RAPIDS, MI – West Michigan’s real estate market continued to improve for sellers in November as prices rose strongly while the inventory of new homes on the market remained flat.
The average price of a pending home sale was $148,626 last month, a 12.8 percent increase over November 2012, according to the monthly activity report from the Grand Rapids Association of Realtors (GRAR).… read more
There are some homeowners that might consider waiting for the spring to sell their house thinking that no one buys a home during the winter months. What we should understand is that homes sell EVERY DAY.
As a matter of fact, according to the latest Existing Homes Sales Report from the National Association of Realtors, on average 14,027 homes sell daily in this country.read more
It is true that more…
The big question for homebuyers is when interest rates will begin to rise to the 5% mark. The effect of a rise in mortgage rates could be a dramatic increase in the monthly mortgage payment when purchasing a home.
In an article last week, HousingWire quoted two different sources regarding this issue.read more
Most experts are projecting that rates will rise when the Fed decides to taper the purchase…
If you’re having a hard time finding a home to buy right now, you are not alone. The supply of houses for sale in many markets across the state are hitting near all-time lows.
Interest rates remain low, but there are not enough homes available to meet the demand.read more
“In most recent history I can’t recall ever being in a market like this,” said Terry Westbrook, president of the Grand…
GRAND RAPIDS, MI – One Sunday afternoon last month, Realtor Terry Westbrook says he was pounding the “For Sale” sign into the front lawn of a new listing when a man drove up with questions about the house. He said he’d be back.read more
“His agent called back and that evening we had an offer on the house and now we’re closing tomorrow,” said Westbrook, president of the Grand Rapids…
Forget the myth that winter is a bad time to sell real estate. While sales usually inch lower in the cooler months, some real estate pros are saying this winter in particular may be a great time to sell a home.
Here’s why:read more
1. Mortgage rates are near record-breaking lows.
2. Home prices are starting to rebound in many markets across the country. The National Association of REALTORS®…
Use of the Internet among consumers in the homebuying process continues to grow, but those buyers are more, not less, likely to use a real estate agent, according to an annual survey from the National Association of Realtors.
NAR’s 2013 Profile of Home Buyers and Sellers includes survey responses from 8,767 people who purchased a home between July 2012 and June 2013. The seller…read more
Here are the Top Ten West Michigan communities and the number of housing starts during the first nine months of 2013.
• Georgetown Township (Ottawa County) 168
• Caledonia Township (Kent County) 86
• Byron Township (Kent County) 82
• Allendale Township (Ottawa County) 57
• City of Kentwood (Kent County) 53
• Plainfield Township (Kent County) 52
• Gaines Township (Kent…
Many now realize that it is a great time to buy a home. It might also be an opportune time to sell your house. Here are the five reasons we believe now may be a perfect time to put your house on the market.
1. Demand Is Highread more
The most recent Existing Home Sales Reports by the National Association of Realtors (NAR) show a double digit percent increase in sales year-over year; sales have…
24 HOUR MARKET REPORT:
158 new listings, 47 properties back on the market, 21 price increases, 137 pending sales reported, and 105 sales closed. It has been a busy 24 hours for West Michigan REALTORS!
Source: Grand Rapids Association of Realtors (www.grar.com)read more
Date: October 15, 2013
Sales of existing homes declined in May, according to a new report from the National Association of Realtors, not just because the overall housing market is struggling, but because there are simply not enough homes to buy.read more
There are currently 2.49 million for sale, a drop of 20 percent from a year ago. To make matters worse, supply is lowest on the low end, where so much of the investor…
There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is…
If it hasn’t sold in this hot market, maybe it’s not priced properly.
After all 14,767 houses sold yesterday, 14,767 will sell today and 14,767 will sell tomorrow. 14,767!read more
That is the average number…