Grand Rapids Michigan Real Estate Blog

  Forest Hills Gardens Residential Real Estate

          Dec 2008 Absorption Market Report

              4 Sold, 0 Pending, 1 For Sale

The absorption rate for Forest Hills Gardens is 3 months, which

means if no new listings come on the market it will take 3 months

for the existing inventory of homes to sell at the current rate of sale.

This is a fabulous rate in this market and the one home for sale

reflects the stability and desirability of the neighborhood.

 

Active Forest Hills Gardens Listings: 1

Average list price is $ 164,900.

Average time on market is 76 days.

Average list cost/SqFt is $90.50

The average price for Forest Hills Gardens sold homes is $162,475.

The average price/sqft for Forest Hills Gardens sold

homes is $ 96.47.

The average days on the market for Forest Hills Gardens sold

homes is 20 days. 

 

The Ada area growth trends remain strong. Ada Township planner,

Jim Ferro states that the Ada population has grown by 20% since 2000.

There is a new proposed 80 condo units - Villas of Ada going in next

door and Stone Falls of Ada - a 210 unit apartment complex, currently

under  construction a short distance away on Spaulding Ave.

Both of these new developments are quite close to Adacroft Commons

and Forest Hills Gardens.

 

If you have questions about Forest Hills or Ada homes,or

if you would like this market report emailed to your inbox,

please contact me directly. 

 

Grand Rapids Ada Real Estate ~ Westbrook Realty

 Copyright 2008 All rights reserved

Japanese Maple photo by Bonnie Westbrook

Cascade Woods is an established neighborhood of large, executive

 style homes in Cascade Township, MI. Most of these homes were

built in the 1960's and 1970's, although there are a few newer

homes that were built recently in the area. Close to the village of

Cascade and the Thornapple  River, this heavily wooded area has

 been a Grand Rapids desired suburban place to live for  decades. 

 Part of the Forest Hills School District, which draws many families,

there is also the river and it's picturesque appeal.  The drive down

Thornapple River Drive between Ada and Cascade in the fall is one

of the prettiest drives in the greater Grand Rapids area.

 

   Cascade Woods  Absorption Market Report  

                        December 2008

    9 Homes For Sale,  1 Pending,  11 SOLD, 24 Expired

 

Cascade Woods Active Listings: 9

Cascade Woods Active average price - $327,056

Cascade Woods Active average $/SqFt - $110.20

Cascade Woods Active average days on market - 92

 

Cascade Woods Sold Listings: 11

Cascade Woods average sold price - $249,073

Cascade Woods average sold $/SqFt - $ 110.37

Cascade Woods average sold days on market - 106 days

 

Cascade Woods Expired Listings: 24

Cascade Woods Expired average price - $290,591

Cascade Woods Expired average $/Sq/Ft - $ 122.50

Cascade Woods Expired average days on market - 178

 

The absorption Rate for Cascade Woods Homes is 10.8 months,

Which means if no new listings come on the market, it will take

10.8 months to sell the existing inventory.  The average sold price

per SqFt and the Active listings Price /SqFt seem to be aligned. It could

 be home condition which is slowing the sales in this area of older homes.

Today's buyers do not want to do ANY updates, which includes painting,

new kitchens & baths, new flooring. If your Cascade Woods home hasn't

 sold, it is probably condition,  which gets us back to price.  If you don't

want to improve your home, you won't get the same price as people who

have updated and kept their home current.

 

Cascade Woods October 2008 Market Report 

Cascade Woods September 2008 Market Report

Cascade Woods August 2008 Market Report

Cascade Woods July 2008 Market Report

Cascade Woods June 2008 Market Report

 

If you would like further information about Grand Rapids or

Cascade Homes, please contact me directly.

Grand Rapids -Ada Real Estate - Westbrook Realty

 Copyright 2008  All rights reserved

photo of Leslie E Tassell Park on the Thornapple River by Bonnie Westbrook

The East Village subdivision off  Ada Drive in Ada Township is a fairly

new development. The new housing construction started in 2005 and

is still continuing to date. You can buy a resale home or a new home

in this centrally located housing development.  Near both public and

private schools, East Village is also close to  Forest Hills and 28th

Street shopping areas. The Ada Bike or Walking Trail also connects

this area on Ada Drive with the village of Ada, Grand Rapids, and the

village of Cascade.

East Village is also close by the expressway for easy access to many

different parts of our greater Grand Rapids area.  Large,

executive style homes with many amenities and extras are the rule in

this neighborhood. If you would like to start with a brand new house,

this may be the place for you to call home.

 Real Estate Market Report

East Village December 2008

For Sale:

There are 5 active East Village Homes with an

average list price of $ 444,780.

The average active East Village price per sq ft (main floor) is $ 167.13.

The average active East Village days on the market is 136 days.

Sold:

There are  10  East Village SOLD homes with an average

price of $ 464,900.

The average price per sq ft for East Village SOLD homes is $161.71.

The average days on the market for East Village SOLD homes

 are 86 days.

The prices are holding relatively steady with a drop for the forth

quarter in 2008, which is usual.  East Village Homes are selling if priced

correctly.  Price per square foot on the main floor must be about $160/SqFt.

The absorption rate for East Village is 6 months, which means if no new

homes enter the marketplace, it will take 6 months for the current home

inventory to sell.  This is a great rate for the Grand Rapids MI area.

 

East Village November 2008 Market Report

East Village October 2008 Market Report

East Village Sept 2008 Market Report

 

If you would like further information about East Village, Ada, or

 Grand Rapids Homes, please contact me directly.

Grand Rapids - Ada Real Estate  - Westbrook Realty

 Copyright 2008  All rights reserved

photo of Ada Bike Trail  by Bonnie Westbrook

The Residences at Watermark are located on Watermark Golf

Course  just south of Cascade Road.   If you don't like golf, 

 get defensive when a stray golf ball rolls into your "yard" you

 probably would be better off not buying a home or condo

 at Watermark. Of course you would be missing out on the

best golf course in Grand Rapids (no prejudice  here, just 

the facts, folks)

Yes, I play Watermark golf course every chance I get. Watermark

 is a premier course with a friendly group of players.  We have an

excellent grounds staff and a great pro shop staff.

Watermark single family homes and condos make this a very attractive

place to live. Quality built homes with access off Cascade Road and

Spaulding Drive, you are close to the airport, 28th Street shopping,

I96 expressway and close to Cascade, Ada, and Forest Hills

schools and shopping areas.

 

 

                                        Watermark Residences

                         December  2008 Real Estate Market Report

For Sale:

There are 8 active Watermark Homes  currently on the market.

The average Watermark Homes current active price is $ 777,888.

The average Watermark Homes current price per sq ft is $ 230.96.

The average days on the market for active Watermark Homes is 84.

 The high price is $ 2,700,000 and the low price is $ 179,800.

Sold:

There have been 6 Watermark Sold Homes this year.

The average Watermark Sold Homes price is $ 500,333. 

The average Watermark Sold Homes price per sq ft is $191.68.

The average days on the market for Watermark Sold Homes is 71.

Pending: 1

 

At the current rate of sales, we have a 13.6 month supply of homes on

the market at the Watermark Residences. 

 

If you would like further information about Watermark,

Cascade or Forest Hills Homes, please contact me directly. 

 

Watermark Residences November 2007 Market Report

Watermark Residences October 2008 Market Report

Watermark Residences September 2008 Market Report

Watermark Residences August 2008 Market Report

Watermark Residences July 2008 Market Report

Watermark Residences June 2008 Market Report

Watermark Country Club ~ Pool Time

 

Grand Rapids - Ada Real Estate  - Westbrook Realty

 Copyright 2008  All rights reserved

photo of Watermark Residences Entrance by Bonnie Westbrook

Tamarron Estates is an upscale suburban development with large

wooded lots, walking access to Thornapple Elementary School and

the Thornapple River Backwaters.  It is located just off of

Thornapple River Drive and Cascade Road in Cascade Township.

The house styles vary from large, comfortable ranches, traditional

two stories, to contemporary homes.  Many of the homes were built

in the late 1970's to the mid 1980's, though there is a new street

that has much newer homes on acreage settings.  Some houses close

to and surrounding this development are in the upper price brackets

in the Grand Rapids real estate market.

 

                    Tamarron Residential Real Estate 

                      December 2008 Market Report

                      5 Sold,  7 For Sale, 7 Expired

 

Tamarron Active Listings: 7

Tamarron Average Active Price - $ 500,329

Tamarron Average Active Price/SqFt - $ 137.25

Tamarron Average Active Days on Market - 138

Tamarron  SOLD Listings: 5

Tamarron  Average Sold Price - $ 339,480

Tamarron Average Active Price/SqFt - $ 98.11

Tamarron Average Sold Days on Market - 63

Tamarron Expired Listings: 7

Tamarron Average Expired Price - $ 265,629

Tamarron Average Expired Price/SqFt - $ 112.74

Tamarron Average Expired Days on Market - 124

 

234 homes have sold in Cascade Township in 2008

Average home selling price is $306,712

 

At the current selling rate, we have an Absorption rate of 16.8 months,

which means if no new listings come on the market, it will take 16.8 months

 to clear the current supply of homes.

 

MARKET SYNOPSIS: Tamarron homes are selling but not at the prices that

some sellers would like to see. Today's market is accepting homes under

$100.00 a sq ft. This is a price reduction for this area.  As you can see,

most sellers think their homes will sell at $ 137 a sq ft. This isn't happening.

Even the expired listings aren't selling at $ 112.00 a sq ft. If you have to

sell your Tamarron Estates home now, be sure you are price competitively with

 other properties on the market. Condition plays a large factor in these older

 homes.  If you haven't updated, you aren't going to get top dollar for your

home, the market place is telling you that you need to be at $ 100 a sq ft or

less to see your home sell.

 

Cascade Township has seen tremendous growth in the last fifty

years, though the growth rate has slowed considerably since 2000.

The majority (82%) live in a single family home, and the median

value is  $220,00.  Household incomes in Cascade Township are the

highest among surrounding Grand Rapids areas at $ 87,290.  Most

people in Cascade Township prefer to live here because of the quality

housing, safe areas, and quality schools.

 

Tamarron Estates Market Report June 2008

Tamarron Estates Market Report July 2008

Tamarron Estates Market Report August 2008

Forest Hills Market Report Sept 2008

Tamarron Estates Market Report Oct 2008

Tamarron Estates Market Report Nov 2008

 

If you have questions about the value of your Cascade or Forest Hills

Home, please contact me directly.

Grand Rapids -Ada Real Estate  ~ Westbrook Realty Copyright 2008 All rights reserved

Photo of Tamarron North Entrance by Bonnie Westbrook

Clements Mill is  a newer home development built by Eastbrook

Construction in the Ada MI area, started in 1999 and completed in

2003. Apart from newer homes, part of the appeal is the proximity

of  Forest Hills Central Middle and High Schools, Forest Hills

Woodlands 5/6 School, St Roberts & Ada Christian Schools, which

are within walking distance.

Clements Mill is midway between the Village of Ada and Forest Hills

shopping area at Cascade Road and Forest Hills.

Ada's Clements Mill has seen steady to declining values in the short

time it has been built out.  This is largely due to the current over

abundance of houses for sale in a soft resale market. The good news is

that this area continues to be a desirable housing solution for many, as the

current absorption rate of 1 month shows, this is not typical for the greater

Grand Rapids Market.

                Clements Mill  Residential Real Estate

                     Market Report December 2008 

           22 Sold, 2 Pending, 2 For Sale, 10 Expired

 

The Absorption Rate for Clements Mill Ada Township MI

is 1 month, which means if no new listings come on the market,

it will take 1 month for the current homes inventory to sell at

the existing sales rate.

 

Clements Mill Active Listings December 2008: 2

Average Active Price: $182,400

Average Active Price/SqFt: $105.12

Average Active Days on Market: 230

Clements Mill Sold Listings December 2008: 22

Average Sold Price: $271,531

Average Sold Price/SqFt: $122.07

Average Days on Market: 116

Clements Mill Expired Listings: 10

Average Expired Price: $283,300

Average Expired Price/SqFt: $ 131.99

Average Expired Days on Market: 139

 

Clements Mill Market Report Nov 2008

Clements Mill Market Report Sept 2008

Clements Mill Market Report July 2008

Clements Mill Market Report June 2008

 

The Ada area growth trends remain strong. Ada Township planner,

Jim Ferro states that the Ada population has grown by 20% since

 2000. There is a new proposed 80 condo units - Villas of Ada

and Stone Falls of Ada - a 210 unit apartment complex, currently

open & under construction here.  The Stone Falls of Ada apartment

 project is adjacent to Clements Mill.  Both are scheduled for

completion by spring 2009 but are open for business now.

 

If you have detailed questions about Ada Homes, Forest Hills Homes or

 just need further information, please contact me directly.

Grand Rapids Ada MI  Real Estate   Westbrook Realty

Copyright 2008  All rights reserved

Ada Drive Walking Trail Photo by Bonnie Westbrook

 

Forest Hills is actually a school district in Ada Cascade MI. This market

 is always active. These Grand Rapids suburban communities have wonderful

neighborhoods, some new and some older with prestigious Forest Hills Public

 Schools, and private schools, such as Ada Christian that attract many

homeowners. 

 This report will cover the Sept 1 to Dec. 18, 2008 real estate market activity.

 

 

             Forest Hills MI Listings over $300,000

The absorption rate for Forest Hills MI is 14.95 months, which means if no

new listings come on the market, it will take 14.95 months to sell the existing

homes at the current rate of sale.

There are 228 Active Forest Hills Listings in the over $300,000 category with

an average price of $667,231.  The Active Listings have been on the market

for an Average of 158 Days.  The Average price per square foot of Active

Listings is $205.66 with a low price of $300,000 & a high price of $2,700,000.

 

There have been 68 Sold Forest Hills Listings in the over $300,000 category

with an Average price of $475,118.  The Average Sold price per square foot is

$ 161.62 with Average Days on the Market at 122. The lowest sold price is

 $319,000 & the highest sold price is $785,000.  There are 24 Pending

Forest Hills Listings in this category.

 

 

             Forest Hills Listings  $100,000 to $300,000

The Absorption rate for Forest Hills homes in this price range is 8.1

months, which means that if no new homes enter the market, at the

current rate of sales, it will take 10.9 months to sell all current inventory.

 

There are 202 Forest Hills Active Listings in Ada -Cascade with an Average

 Price of  $209,692.  The Average Active Price per Sq Ft is $120.82 and the

Average Active Days on the Market are 115.  The High Active Price is

$300,000 and the Low Active Price is $109,900.

 

There have been 74 Sold Forest Hills Listings in the last 4 months.  The

Average Sold Price is $194,174 with the Average Sold Price per square foot

at $106.64.  Average Sold Days on the Market is 121 Days.  The high Sold

 price is $299,900 & the low sold price is $104,500.  There are 25 Pending

Sales in this category.

 

Market Synopsis: Although the absorption rate is one of the lowest in the area,

for the under 300K homes, there seems to be a disconnect between sellers and

buyers price expectations.

 Average list price has risen, while average sold price has lowered in this price

 category.  If you have your home listed, you just might  be chasing the market

down.  This is not an effective way to market and sell your home.

Average Sold prices for the over 300K price group has fallen about $20K since

 last month.

If you find yourself in this category, you will need to price your home for the

 buyers market we are currently in. Overpricing the market is a huge mistake.

If you don't need to sell, please consider taking your home off the market,

now  is not the time to test the waters.

 

Ada Cascade Market Report October 2008

Ada Cascade Market Report Sept 2008

 

If you would like specific information about an Ada Cascade or

Forest Hills MI Home, please contact me directly.

 

 

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Grand Rapids Ada Real Estate  Westbrook Realty

Copyright 2008  All rights reserved

Photo of Forest Hills Eastern High School by Bonnie Westbrook