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Homebuyers getting priced out in cities across U.S.
In big cities across the country, home buyers are growing increasingly frustrated as rising home prices and stiff competition shut them out of the market.
In cities like Las Vegas, San Francisco, San Diego, prices have climbed by as much as 20% or more in the past year, well above the national average of 13%, according to Case Shiller.… read more
Author: Shelley Frody, Owner/Broker at City2Shore Real Estateread more
Date: April 2, 2014
DETROIT, MI — Detroit and Grand Rapids have formidable positions in a new report that ranks the “Top 15 Apartment Boom Towns” in the U.S.”
A website called The Sparefoot Blog says Detroit is No. 15 and Grand Rapids is No. 4 in its analysis based on the following criteria: – Total apartments per person – Population growth – The percentage of people spending more than 35 percent of their…read more
GRAND RAPIDS, MI – The Grand Rapids-Wyoming metropolitan area is the nation’s fourth-best medium-sized market for home ownership, according to nerdwallet.com, an Internet-based personal finance site.
According to nerdwallet.com, the Grand Rapids-Wyoming market achieved its status by scoring high on their survey’s three questions: Are homes available? Can you afford to live there? Is…read more
Even though it’s cold outside, the housing market is GREAT for sellers. These facts speak for themselves. Call City2Shore today if you are thinking about selling your house 616-662-9664.
GRAND RAPIDS, MI – The Grand Rapids-Wyoming housing market is poised to be the 11th best place in the U.S. to buy a house in 2014, according to a Forbes.com article on “Best Buy Cities.”
The survey concluded the average Grand Rapids home sale price of $138,596 is 25 percent below the “equilibrium price” of $184,794. The article forecast a 3-year growth forecast of 27 percent.read more
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®…