Grand Rapids Michigan Real Estate Blog

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Why Aren't Buyers Coming to Look at My Grand Rapids MI Home?

Statistics have proven for years that when buyers get in front of the computer

to start searching for a home, the questions they want answered are:

  • How big is the house?
  • How many bedrooms?
  • How many baths?
  • What is the price?


 When we list a property and place it on the Multiple Listing Service we are competing

with all the other 3 bedroom 2 bath homes listed for sale in Grand Rapids.  Buyers

typically bring up about 40 homes on a search and look on-line at 20 of them in our

Grand Rapids market. The graph below indicates what are the top requirements

 to a Grand Rapids home buyer Home Search:

 


  What are buyers looking for when they search for a home?

Selection search Criteria Grand Rapids MI

As you can see from the graph above, this is the order of importance buyers

put in their home searches:

  1. Square Footage
  2. Bedrooms
  3. Baths
  4. Price

Price is number 4 behind Square Footage, Bedrooms, and Baths.

 

BUT Price is the ultimate point of competition.


They don't see the fabulous photos of your designer kitchen, the visual tour,

your wonderful photos of your "green thumb" garden or the newly

remodeled bathroom if your stats don't compare.  If you are not in the top 20

by Square Footage, Bedrooms, Baths, & Price, maybe even the top 10 they

don't even bother with clicking on the photos or details of  your home.


Price is the only thing left when you have 40 similar homes on the market

competing for the same buyers.  Supply and Demand will continue to rule

the real estate housing market in the forseeable future, and Price Plays a

Major Role.

 

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_____________________________________________________________________________________________________

 The authors of the this blog write about Grand Rapids Real Estate, the Greater Grand Rapids MI area, and what it is like to live in West Michigan.  Grand Rapids Michigan is a vibrant, growing metropolitan area with a diverse business community, great medical research & services, numerous universities, plus lively arts and entertainment of all kinds.

 We believe: Grand Rapids is a Great Place to Live!

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            Westbrook Realty Grand Rapids MI Real Estate

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Comments

Every market is different and we are in one big country. In Northern Maine, the square footage is less important to local buyers. It is to outside purchasers as they know 2700 s/f is a pretty good sized house. In our area, how many bedrooms is the one criteria that makes a picture start to form in their head as they ask questions. The bedroom count is the size factor looked for, asked for.  Video with audio and live five sense motion helps us "show the home" or land, farm, whatever. You get them in to a cyber video open house..the only open house option you may have.

Posted by Andrew Mooers | Northern Maine Real Estate / Aroostook County Broker (MOOERS REALTY) 5 months ago

Price....that's what people are looking for here. Period! they are watching for the good price. Our homes are pretty cookie-cutter. So nice kitchens, granite, good floors and price. Did I mention price?

Posted by Karen Fiddler Broker/Realtor (Great Western Realty Group/eVantage Real Estate) 5 months ago

Andrew, My point exactly know what your buyers are looking for in your market and make sure your listing compares favorably or all the video tours and other marketing tools will be invisible they will just pass you by.

Posted by Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate (Westbrook Realty Broker-Owner) 5 months ago

I agree that price is probably the deciding factor in today's market especially with the models being very similar in size.

Posted by Laxson Associates l La Quinta Real Estate 5 months ago

I think you make some very good points.  BRs, BTHs, size are all top priorities, but price is usually the deciding factor.

Posted by Douglas Lovitt (CENTURY 21 North Homes Realty, Inc.) 5 months ago

In this market that is certainly true, price is what it all comes down too.

Posted by Gerry Michaels GettysburgGerry (Community Benefits Real Estate, Gettysburg, Pa) 5 months ago

Ginevra, She is not alone most sellers think they have something special and as long as they do they will continue to own the house.

Posted by Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate (Westbrook Realty Broker-Owner) 5 months ago

Karen, All the amenities you talked about only make a difference after you get selected as one of the properties in consideration.

Posted by Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate (Westbrook Realty Broker-Owner) 5 months ago

Douglas, We find that even a small price adjustment can make a huge difference in activity.

Posted by Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate (Westbrook Realty Broker-Owner) 5 months ago

Gerry, Price is KING and sellers need to just accept it and compete or not put their home on the market.

Posted by Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate (Westbrook Realty Broker-Owner) 5 months ago

Terry, in our market...the only thing that counts is price point. It makes it a hard market for a non-distrissed seller. Everyone has gotten use to the fact that REOs and short sales are price below market and want a non-distressed home to be price accordingly. Tough market!

Posted by Jeanean Gendron ~ Redding & Shasta County Specialist (Coldwell Banker C & C) 5 months ago

Wow, wish I had the capability to get those reports from my MLS - I like them!  You are so corrent - while there are 3 criteria that are important, with all things the same PRICE trumps!

Posted by Leesa L. Finley, REALTORĀ®/RE Strategist Wake Forest NC Real Estate & Wake County (Circa Properties - Your Wake Forest NC Homes Specialist) 5 months ago

Jeanean, We are similar and it is reflected in the sales activity. Only the well priced homes are considered.

Posted by Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate (Westbrook Realty Broker-Owner) 5 months ago

Leesa, With so much competition buyers just don't look at the higher priced properties and they may offer a good value but price is still KING.

Posted by Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate (Westbrook Realty Broker-Owner) 5 months ago

Terry and Bonnie

I am suprised to see square footage was the top search key over bedrooms and baths.

Posted by Tom Braatz, Waukesha County Real Estate,WI (Re/Max Realty Center 262-377-1459) 5 months ago

Tom, I guess we all need to evaluate what the consumer wants regularly to make sure we give it to them.

Posted by Terry Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate (Westbrook Realty Broker-Owner) 5 months ago

Terry, I agree with you that all of the information should be entered properly.  A lot of agents leave things out thinking it's going to make their phones ring or attract inquiries to their email boxes.  Nothing like annoying them into making an inquiry!

Posted by Patricia Kennedy (Evers & Company Realtors) 5 months ago

You are so correct that you have to wow them with the numbers before they will even look at the pictures. If you can't be on that first page of listings then like Google first page, page two is never seen and either will be your home.

Posted by Todd Clark (Broker) (503)524-9494 (Beaverton, Oregon Real Estate Expert) (Capstone Real Estate) 5 months ago

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