Grand Rapids Michigan Real Estate Blog

Grand Rapids Michigan November 2011 Sales Stats

The November home sales statistics are in and the news looks good.

Sales are up in November across the board in all price ranges.

The price range that has seen the most activity is $100,00 – $ 139,999;

almost 1 in 5 homes sold in November 2011 were in this price category,

with overall highs ranging over $1 million and lows under $ 19,000.

 

The Grand Rapids housing market has 24.6% fewer listings year-to-date

than last year.  This means shrinking inventory for buyers and good news for

sellers. 

 

The Average Home Sales Price is up from 2010 by about 3%; from $ 118,217

to $121,920.  In our opinion, this increase is caused by the REO’s and foreclosure

sales numbers are down and more banks are embracing short sales.

 

Please note these prices are averages for the whole Grand Rapids market.

If you would like to know what prices are in your neighborhood, give Terry a call.

 

SEARCH GRAND RAPIDS HOMES

You Want to Rent a Foreclosed Home?

I actually got a call from a potential home buyer the other day

and they were considering renting a foreclosed home.  The buyer

was having credit issues, so they knew they would have to rent

for awhile before they could purchase a home.

I explained that foreclosed homes are not for rent and probably

never would be.  The bank or investor just wants to sell the property

and recover some of their investment.  They are not interested in

keeping the home for any reason.

 

I have seen an increased interest in people renting single family

homes.  For many reasons, former home-owners are now renters.

If you have a damaged credit score, renting for 2 years and

getting your score repaired is crucial before you can buy a

home of your own.  Speaking with a mortgage loan officer can be

helpful in getting your credit score back into shape so you can

buy that home when you are ready.

 

Avoiding foreclosure for current  homeowners can be found here. 

 

SEARCH For GRAND RAPIDS HOMES

 

5 Factors That Decide Your Credit Score

Budget Basics

Buyer Answers

Syndicated from Grand Rapids Real Estate Blog

Grand Rapids Township Michigan 39+ Acre Land Parcel For Sale

<<<<<<<SALE PENDING>>>>>

Nestled in between 80 acres of township park land and the prestigious

Catamount properties, this land parcel has acres of rolling, wooded land

off Knapp Court, just south of Knapp Avenue, close to the East Beltline.

It has 2 houses on the property, which are structurally sound but both

will need improvements.

4440 Knapp Court NE

 

 

4460 Knapp Court NE

 

 

Listed at: $ 595,000     MLS # 11010137 & 11010893

CALL TERRY 616-292-7263  for additional details

 

 

Caledonia Michigan Top Best Buy Homes Sept 2010

We have a list of the Top Best Buy Caledonia Michigan Houses

to buy based on price per square foot.   Price per square foot is a

great leveler.  If two similar homes are listed at similar prices, their

 price per square foot should be similar.  The price should reflect the

interior finish of the  home.

For example, if the home has crystal chandeliers, marble tile,

& a new kitchen, this would be more per square foot than a home that

still has the 1970’s decor and/or is in a derelict or tired condition.

 

Lowest price/Sq Ft range from $38.74 to $89.29 in Caledonia.

September 2010   TOP BEST BUY Caledonia MI Homes

Highest list price is $269,000 Lowest list price is $27,560

The Top 22 Caledonia Homes to Buy by Price/Square Foot:

309 W Main St SE      $ 27,560      585 Sq Ft   $47.11/SqFt

8935 Croniger St       $ 62,400     960 Sq Ft     $65.00/SqFt

6300 Buttrick Ave     $ 64,900     1450 Sq Ft   $ 64.90/SqFt

114 Johnson St        $77,500      1200 Sq Ft    $64.98/SqFt

209 Terrace SE         $ 79,500     1051 Sq Ft   $38.74/SqFt

 

8601 Acorn St         $84,900      998 Sq Ft      $85.07/SqFt

7398 68th St SE     $99.900     2226 Sq Ft    $44.88/SqFt

9949 Whitneyville  $119,900    1667 Sq Ft    $71.93/SqFt

5695 84th St SE   $124,900    2369 Sq Ft   $52.72/SqFt

7050 84th St SE   $125,000    1400 Sq Ft   $89.29/SqFt

 

6461 Avalon Dr      $ 129,900   2016 Sq Ft   $64.43/SqFt

119 Johnson St      $145.000    1664 Sq Ft   $87.14/SqFt

429 Emmons St     $147,900    1998 Sq Ft  $74.02/SqFt

7962 Pine Hollow    $149,900    1750 Sq Ft  $85.66/SqFt

8877 Alanada Dr    $149.900    2053 Sq Ft    $73.02/SqFt

 

5007 92nd St SE      $159,900     1854 Sq Ft   $86.25/SqFt

6093 E Alanada Ct    $169,685     2047 Sq Ft   $77.89/SqFt

8638 Rainbow’s End $169,685    2047 Sq Ft    $82.89/SqFt

327 Johnson St       $174,500     3000 Sq Ft    $58.17/SqFt

8947 Alanada Dr    $174,900     3275 Sq Ft   $53.40/SqFt

 

5754 Duncan Cove Ln  $200,000  2414 Sq Ft  $82.85/SqFt

7727 Rodao Dr          $269,000    3812 Sq Ft    $70.57/SqFt

 

With 7 homes priced under $100K, there are still bargains

to be had in Caledonia real estate.  Price is still being driven

downward UNLESS homes are in great condition and even

that isn’t a guarantee that the home will sell quickly.

 

If a Caledonia home is where you would like to live,

 interest rates are at historically low rates and inventory

 is still high.  Waiting to see the bottom of the market could

be a mistake, you can’t tell it is the bottom until it is gone.

 

More Caledonia Michigan Real Estate Articles

 

***Please note that this list can change daily as some homes

sell, prices are adjusted and other homes come on the market.

Some of these homes may be bank owned foreclosures and

not habitable as is or available for a mortgage in present condition.

 

If you would like to see a Caledonia Top Best Buys Home, please

contact me: 1-888-240-1968 ext 0

or email me at terry@terrywestbrook.com

 

 

Forest Hills Michigan Top Best Buy Forest Hills Homes

(Ada-Cascade) to buy, based on price per square foot

for August 2010.  The homes listed below might need updating

with new carpeting, paint, and kitchen–bath redos at a

minimum to bring them to current market standards.

They might need major repair work done, such as new roofs,

new plumbing, electrical & other major mechanicals.

Check back often or just subscribe to our blog to get

up-to-date local real estate information that you want to know.

The total square footage is noted here, although only the

main floors are used to figure price per square foot, not the

basement, even if finished.

Please note: This list can change daily as some homes sell,

prices are adjusted and other homes come on the market.

Top Best Buy Homes - Forest Hills Michigan  August 2010   

 25 properties

The lowest price/Sq Ft for homes range from $40.93 to $77.64 

Lowest list price is $49,900

Highest list price is $265,900

August 2010 homes  Forest Hills School District:

This list could include properties in Ada Township, Cascade

Township, Grand Rapids Township, Lowell Township, and the

city of Kentwood.

 

The Top Forest Hills Homes to Buy by Price per Square Foot:

2674 Chatham Woods Dr  $ 49,900    926 SqFt      $53.89/SqFt

2031 Rowland Ave #8      $ 69,000    1150 Sq Ft    $60.00/SqFt

3741 Burton St SE          $ 69,900      984 SqFt    $71.04/SqFt

2648 Knightsbridge Rd     $ 69,900     1708 Sq Ft    $40.93/SqFt

1417 Grand River Dr NE   $ 75,000     1248 Sq Ft     $60.10/SqFt

 

6351 Wainscot Dr SE       $ 75,000    1116 Sq Ft     $67.20/SqFt

6231 Acropolis Dr           $79,900      1486 Sq Ft     $53.77/SqFt

3006 Chapshire Dr          $79,900     1116 Sq Ft     $71.59/SqFt

6248 Lincolnshire Ct SE  $ 76,900    1283 Sq Ft     $59.94/SqFt

3181 Charlevoix Dr #205  $ 80,000    1083 Sq Ft     $73.87/SqFt

 

6372 Wainscot Dr SE      $ 84,900     1224 Sq Ft     $69.36/SqFt

6100 Cascade Rd Dr        $90,000      1389 Sq Ft     $64.79/SqFt

3044 Maryland Ave NE    $ 94,900      1550 Sq Ft     $61.23/SqFt

2049 Rowland Ave         $ 94,900    1280 Sq Ft      $74.14/SqFt

3005 Chapshire Dr          $ 95,000      1224 Sq Ft    $77.61/SqFt

 

3333 Park Ridge Ln NE   $123,200    1600 Sq Ft   $77.00/SqFt

3795 Knapp St NE        $125,000     2150 Sq Ft   $58.14/SqFt

2328 Dean Lake Ave     $129,900     2757 Sq Ft   $47.12/SqFt

7569 Woodvale St        $162,500     2330 Sq Ft   $69.74/SqFt

733 Crahen Ave NE       $164,900    2124 SqFt    $77.64/SqFt

 

5015 Ada Dr SE           $199,900     2700 Sq Ft    $74.04/SqFt

201 Shore Haven Dr        $179,900    2375 SqFt    $75.75/Sq Ft

205 Shore Haven Dr       $189,900     2672 SQ Ft   $71.07/SqFt

7382 Treeline Dr SE       $ 259,900   3800 Sq Ft    $68.39/SqFt

4229 Haralson Ct SE       $265,900   4664 Sq Ft     $57.01/SqFt

Prices have stabilized somewhat for now. The highest price is higher

and the lowest price is higher this month than last month.  There

are still some bargains in Forest Hills, IF you want to do some

home improvements.

WARNING: Some of these homes may be bank owned foreclosures,

short sales and not habitable as is or available for a mortgage

in present condition.

More Forest Hills Michigan Real Estate Articles 2010

Search For Forest Hills Homes

If you would like to see a particular Top Best Buys Forest Hills

Home, please contact us at 1-888-240-1968 ext 0 or email us at:

terry@terrywestbrook.com

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Grand Rapids Michigan NE Two Story home just listed for sale

1013 Worcester Dr NE has been updated to look like a much newer home.

 

 

 

A new kitchen, updated bathrooms, new laminate floors and new

carpeting make this home look like a magazine layout.  New white

6 panel doors  have been installed through out the house, fresh

paint, and replacement windows round out the improvements.

 

 

 

The lot is large and the back yard is completely fenced and deep.

Privacy in the back with mature woods and a leafy tree lined street.

Located in a quiet Northeast neighborhood, don’t let this one get away!

 

 

 

 

For more information and a walk through video, visit our web site:

www.terrywestbrook.com

 

This home has been sold and closed.  Call us if you are looking for a similar

house in NE Grand Rapids Michigan.  We always have new listings coming up.

 

 

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We are on the front lines of property values in Grand Rapids real estate and were

aware that this day would come. We have seen property values fall from 15-30%

in the past  3 years for local communities. ( Read our Blog post about home values)

  The effects of this devaluation still has shock value  for many  living in

 our local areas.  We have watched poorer school districts struggle  to

allocate funding with the financial news from Lansing being dire and

 changing constantly.  It has now started to hit our more affluent areas

and these parents are confused and angry.

 

See comments on this Mlive article about East Grand Rapids cutting their
budget with more cuts to come.

 

 

We attended the Forest Hills Superintendant’s meeting last fall about

a $10 million dollar projected shortfall in their 2010-2011 school budget. 

 They are not getting any definite answers from the state on what cuts

will be until after they set their annual budget ( This is truly bizarre but

 the state government runs its own show).

 

Both East Grand Rapids and Forest Hills have fixed costs because of

teacher and staff contracts.  Our understanding is that these are about

70% of the budget in Forest Hills. [See FHPS Funding Facts }  Dan Behm,

the Forest Hills Superintendant told our group of concerned citizens

that if he eliminated transportation and sports, that there would

still be $3 million shortfall and he would have to look for another job

because of angry parents.

 

We don’t offer any solutions, but we do need to look at all items on

the budget. Nothing is sacrosanct,  not  teacher salaries, retirement

 or healthcare.  The same belt-tightening and elimination of non-essential

 items that has affected business and personal budgets for the last 3 years

and longer in the state of Michigan is going to reduce funds for public services

 in our state. 

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FHPS Funding Facts

Real Estate is always local.  Since Grand Rapids is such a large metropolitan

area, the real estate market report for the whole area is not necessarily

indicative of  what is going on in your neighborhood.  The Grand Rapids report

lets you know how we are doing as a  whole, but it certainly doesn't tell you what

 your neighbor just got for his home or what the market prices are in your

neighborhood.

 

To give a logical approach to this report, we have split it up by public

school district.  This is a macro neighborhood  report, not a micro report.

Bear in mind, these are average sold prices for large areas.  But we hope it

gives you a good idea of where home prices are in your general area within

the greater Grand Rapids market for the past 3 years.  After doing this report,

we can certainly see why Grand Rapids is one of the TOP 5 best places in the

country to buy a home at a reasonable price.

Belding

2009 - $  55,110

2008 - $  71,758

2007 - $ 100,416

Byron Center

2009 - $ 160,220

2008 - $ 185,707

2007 - $ 200,766

Caledonia

2009 - $ 153,360

2008 - $ 163,983

2007 - $ 191,724

Cedar Springs

2009   $ 85,493

2008 - $ 99,170

2007 - $128,705

Comstock Park

2009 - $ 112,010

2008 - $114,348

2007 - $138,251

East Grand Rapids

2009-  $ 230,518

2008 - $ 224,625

2007 - $279,909

Forest Hills

2009 - $ 224,558

2008 - $ 272,793

2007 - $ 267,817

Godfrey-Lee

2009 - $ 33,834

2008 - $ 41,515

2007 - $ 71,748

Godwin Heights

2009 - $ 42,149

2008 - $ 53,574

2007 - $ 91,708

Grand Rapids

2009 - $ 58,936

2008 - $ 65,803

2007 - $ 99,233

Grandville

2009 - $ 135,538

2008 - $ 144,222

2007 - $ 162,095

Jenison

2009 - $ 123,639

2008 - $ 131,184

2007 - $ 139,372

Kellogsville

2009 - $ 57,135

2008 - $ 70,897

2007 - $ 93,322

Kenowa Hills

2009 - $ 116,917

2008 - $ 124,367

2007 - $ 151,869

Kentwood

2009 - $ 100,561

2008 - $ 114,940

2007 - $ 141,804

Lowell

2009 - $ 127,542

2008 - $ 135,123

2007 - $ 164,888

Northview

2009 - $ 116,275

2008 - $ 148,128

2007 - $ 160,557

Rockford

2009 - $ 157,624

2008 - $ 176,048

2007 - $ 198,416

Wyoming

2009 - $ 67,784

2008 - $ 82,756

2007 - $109,009

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photo of Grand Rapids Children's Museum by Bonnie Westbrook

If you live almost anywhere except a tropical climate, your seasons change. 

In fall and winter, the trees lose their leaves or they change color.  The grass

isn't that brilliant shade of green that shows it is in growth mode.  Fall and winter

are times of rest for the plant world but not for Grand Rapids MI real estate agents. 

 

 With mulitple listings to advertise, one needs to keep on top of seasonal changes. 

Many times I have seen home photos listed in our local MLS with snow in the yard

in the middle of the summer.  Or now, when we have 1 foot of snow on the ground,

 lots of listings have summer photos with trees in leaf and flowers blooming. 

Would you make an assumption that the home with the green grass and flowers in the

listing photo today is not being represented by an agent who is on top of his/her game? 

We would.  That is not what your listing looks like or what the neighborhood looks like today.

It is important to represent the home you have listed appropriately.  And buyers

want to know what the yard and landscape looks like in the fall and winter.

This home was listed at the end of October when the trees had lost their leaves

and flowers and shrubs are dormant.

It looks very different in this photo coated in snow with the Christmas wreaths up

taken about 6 weeks later.

This home was listed on October 21st, 2009. 

It looks very different today with snow as a major component of the landscape.

 

Keep your listing photos up to date. Winter in Grand Rapids Michigan is one of those

times when being green isn't a good thing.

 

 

This charming two story Tudor home in Ottawa Hills will be coming on the

market soon.  With 3 bedrooms up, 1 1/2 baths, hardwood floors, and

2 stall garage attached, this home has a very livable floor plan. 

Built in 1931 with quality materials, it has lots of built in character

with a fireplace and bay window in the living room. A sun room, formal

dining room, kitchen with new laminate flooring, new roof in 2008,

and 2009 painted wood exterior.

 

 

Ready for new owners to move in and enjoy the home & neighborhood.

The new Grand Rapids Christian Elementary School being built on

 the site of the old Ottawa Hills High School, recently Iroquois Middle

School, is expected to be completed in fall 2010.