East Grand Rapids real estate always has been and continues to be a good investment. As real estate values across the country have dropped double digit figures, we here in Michigan have felt some of those same figures. The east side of Michigan has been hit hard with the auto industry issues and their real estate values are down 18 to 30% from the Detroit area north to the Tri-cities,(Flint, Saginaw and Bay City).

Here in western Michigan, we have also had a few down years in real estate values, but not as hard hit as the East side of the state. The greater Grand Rapids area is down about 13 to 19% across the board....but then there is East Grand Rapids.

The East Grand Rapids real estate market has seemed to continue to hold most of it's value. Yes, there have been some declines in value, but not nearly as significant. Here are some numbers to look at for homes sold in East Grand Rapids in 2008-2010:

2008 average sale price - $254,000

2009 average sale price - $257,000

2010 average sale price - $275,000

So, when you are looking to buy a home in the Grand Rapids real estate market, remember to think long term, as your home is not just what you live in, but it is also a very large investment in your future. What makes East Grand Rapids real estate values so strong over the years? The East Grand Rapids schools, some of the best in the state, Reeds Lake and Fisk Lake,  the parks, Gaslight Village, sidewalks and above all, the community and it's people.

An East Grand Rapids home has proven over the years to be a great investment and as you can see, continues to be a very good investment in your future.

We are having 3770 Ravine Vista in Cross Creek West, in Grand Rapids, open on Sunday April 3rd from 2-4:00. This is one of only a few of the condos in this community that are a 2 unit. This unit is approx. 2000 square feet and has 3 bedrooms and 2 1/2 baths and has wonderful views or deer and turkey all year long in their very private setting behind the condo. This condominium is priced at $214,900. For more information, see the link below. You may need to copy and paste the link to your browser.

http://public.grar.com/public/EPubRecn.mac/start?MLS=10059494&P=&U=

Come out and visit my open house at 707 Village springs on Sunday April 17th from 2-4. This wonderful ranch has 5 bedrooms and 3 baths and sits in the great West Village community in Forest Hills Northern Schools. This home boasts a 3 stall garage, great room with fireplace, sun room, great kitchen wiith dining area and lockers for the kids, huge family room on the lower level and an expansive back yard. See the link below for more information. You may need to copy and paste the link to your browser.

http://public.grar.com/public/EPubRecn.mac/start?MLS=11010666&P=&U=

I am having an open house at 3700 Manderley on April 10th, 2011 from 2-4:00. This wonderful home has private lake frontage on Dean Lake and is priced at $474,900. This boasts 4 bedrooms, 3 baths and has over 4300 square feet of finished living space. This is a walkout with decking that goes from house to lake. Come out and see this wonderful property. See the link below for more information. You may have to copy and paste the link to your browser.

http://public.grar.com/public/EPubRecn.mac/start?MLS=11008058&P=&U=

We have an open house at 1150 Evelyn in Grand Rapids, Michigan on March 27th, 2011 from 2-4:00.

This home is priced at $99,900. It is a very nice 2 bedroom ,1 bath bungalow with a finished lower level and fireplace and newer kitchen, great fenced back yard and 2 stall garage. They are currently in the process of finishing the upper level for a 3rd bedroom.

See the link below for more information:

http://public.grar.com/public/EPubRecn.mac/start?MLS=772650&P=&U=

So I have been told.....The Sprich Group gives the best Grand Rapids real estate closing gifts ever. When someone either buys a home or sells their existing home with The Sprich Group, we give them a "pen and ink" framed drawing of that home. We have a local artist draw the home from pictures that we take and forward to him. He finishes the drawing, then we get them framed at a local studio and present them at close. On the back of the picture is a pocket for my business card.

 These are not only lasting gifts that they will treasure forever, but they are a constant reminder, every time they walk by their picture, that their realtor gave them that picture. When friends or realitives come over and see the picture, they can say," my Grand Rapids realtor gave me that when we bought this home". It has brought my clients great joy and also has brought me many referrals and many hugs and smiles from my clients.

See examples here. You may have to copy and paste the link your browser.

http://homes4saleingr.com/about-the-sprich-group/testimonials/toms-gifts-2/

Check out this great Grand Rapids real estate market Condo. This Condo has 3 bedrooms, 2 1/2 baths and has views of the woods off the sun room with deer, turkey and other wildlife. We just dropped the price to $214,900. 3770 Ravine Vista in Grand Rapids. Here is the shortcut>

http://public.grar.com/public/EPubRecn.mac/start?MLS=10059494&P=&U=

The Cost of Waiting for Prices to Fall

by The KCM Crew on February 11, 2011

Many Grand Rapids buyers have been sitting on the sidelines waiting for home prices to hit bottom. They want to guarantee that they are buying a home  at the best possible price. Like them, we believe that Grand Rapids area home prices still may be stabilizing, other markets still are falling. However, we disagree that waiting is a good financial decision. The buyer should not be concerned about housing prices. They should be concerned about cost.

The cost of a house is made up of the price AND THE INTEREST RATE they will be paying. Two different pieces of news released yesterday highlight this point.

PRICES

The National Association of Realtors (NAR) released their 4^th quarter housing research report. In the release, they reported that home sales rose 15.4% in the 4th quarter over the 3rd quarter. They also showed that prices remained stable during the year:

The national median existing single-family price was $170,600 in the fourth quarter, up 0.2 percent from $170,300 in the fourth quarter of 2009.

A buyer who delayed a purchase might find solace in the fact that prices have not increased. However, the other news released yesterday paints a different picture.

INTEREST RATES

The Primary Mortgage Market Survey was released by Freddie Mac which showed that the 30 year fixed rate mortgage was at 5.05%. Frank Nothaft, vice president and chief economist of Freddie Mac said:

"Long-term bond yields jumped on positive economic data reports, which placed upward pressure on mortgage rates this week...As a result, interest rates on a 30-year fixed-rate mortgage rose to the highest level since the last week in April 2010."

So prices have remained stable but interest rates have risen dramatically in the last 90 days. What does that mean to a buyer looking to purchase a home this year?

The price is the same. It just costs more.

Let's show you what the news means:

Let's take a typical Grand rapids home at a sale price of $212,000. Putting approx. 20% down, your mortgage amount would be $170,000. Now, let's see what waiting 90 days has cost those Grand Rapids buyers sitting on the sidelines:

Date          Loan Amount     Interest rate       Monthly Payment P&I

Today          $170,000             5.05%                 $917.80

11/10/10     $170,000             4.17%                 $828.36

              Difference in Mortgage payments -          $89.44/month

By sitting on the sidelines for the last 90 days a purchaser lost:

• $89.44 a month
• $1,073.28 a year
• $32,198.40 over the thirty year life of the mortgage

If you buy a $340,000 home, double all these numbers.

Bottom Line

Even if prices fall another 10% this year, the cost of a home will increase if interest rates go up more than 1%. Buyers should not worry where prices are going. They should be concerned where costs will be later in the year.

Kris A Cheranichit
Mortgage Professional

Nationstar Mortgage

Here is a recent buyer saying thank you for a job well done.....it makes this job so much more fun when you get these notes from your clients:

Tom,

Thank you so much for all of your help in finding the right house in Rockford for me.  It took a lot longer than both of us would liked, but I am glad it did, because we found the perfect one.  I really appreciate all of your hard work and dedication, it shows you are a true real estate professional.  It did not matter if it was Saturday afternoon or a Wednesday night; you were there to show me the next house.  Every step in the real estate buying process went very smoothly- inspections and mortgage and closing were a non - hassle with your help and direction.  Thanks again for all of your help!  I will pass your name around to whom ever need a real estate agent in Grand Rapids.

Andrew -

Why you want to buy a house and  live in East Grand Rapids, Michigan...well, I'll tell you why!!!

The history:

East Grand Rapids was first settled in the early 1830s by the Reed Family from New York, New York. It is one of the oldest suburbs in Kent County. Originally part of Paris Township, residents voted to establish the Village of East Grand Rapids in 1891.
By the 1870s, the Reeds Lake area was a popular summertime day trip destination for the people of Grand Rapids and surrounding areas. Picnicking, boating, swimming and spending a leisurely day at the lake and park were enjoyable pastimes. Ramona Park is the most-remembered feature of the bygone days of East Grand Rapids. The amusement park, owned and operated by the Grand Rapids Street Railway Company, was a destination spot for thousands of families between 1897 and 1955. Rose's Bathing Beach and Swimming School located on the west shore of Reeds Lake on the north side of the boat launch, was established in 1901 by James Rose. After the bathing beach closed in the late 1960s, most of the facility was demolished. One small building was left standing. James' son John "Bub" Rose kept it open as a marina and a restaurant noted for its hamburgers and popcorn. The building, though now redone, still sits in the same spot and is a favorite in East Grand Rapids as a dining a tavern establishment right on the water.

 Gaslight Villiage, Reeds Lake and the Parks:

East Grand rapids has always been a very quaint and lovely spot to spend your weekends and evenings walking around Gaslight Villiage and the Reeds lake parks, enjoying shopping, eateries, the lakes and parks and just relaxing. There have always been many shops and restaurants to stop in at and enjoy, but recently, in 2006 the City of East Grand Rapids performed a $3 million refurbishing of Wealthy Street with new paving, lighting and decorative features. A new community center and library were also completed. There are many new shops, reastaurants and and new park as well to make East Grand Rapids even more inviting. The evenings are special around East Grand rapids as many people flock up to see the East Grand rapids football team play as they are many times over State Champions! The winters can also be fun, with ice skating, ice fishing or dinner at Rose's on the lake.

East Grand Rapids Schools:

East Grand Rapids has always been and continues to be one of the most highly ranked public schools in the state and in the nation using test scores, percentage of next level education as well as higher level eduction and so on. In 2009, East Grand Rapids High School was honored as one of the best high schools in the United States by U.S. News & World Report and Newsweek magazines, and rated #1 in the area by Grand Rapids Magazine! East Grand Rapids High School holds the current record for most state championships by a public high school in the country, 117.  East Grand Rapids also boasts one of the few "opera house" facilities for both music and theater arts.

The City:

The city itself has a feeling all of its own. The streets all have a 25 miles per hour speed limit and the population of between 11-12,000 people really never changes. This means that your school system will always be a consistent size, never having to worry about overcrowding. The kids either walk or ride their bikes to school, there isn't any busing.  East Grand Rapids is also very convienent for commuting. It's just 10 minutes to downtown, 10 minutes to the airport, a few minutes to the shopping centers and so on.  When moving to the greater Grand Rapids area, don't forget to take a look at East Grand Rapids, as it is a great place to raise a family and spend a lifetime of great memories and share those times with the long time friends you will make in this little suburb of Grand Rapids. As a life long resident of the East Grand Rapids community, I speak from experience when I say that it is a great place to live.