Just Why It's A Great Time to Buy in Grand Rapids, Michigan!

By
Real Estate Broker/Owner with Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate

 

This past year, our local Board launched it's First Major Marketing Campaign: "It's a Great Time to Buy!"  Little yellow signs now dot lawns of homes listed for sale all over Grand Rapids, Michigan with this positive message.  It's a great time to buy in Grand Rapids, Michigan because:

Inventory Levels are Excellent and Provide for a Great Selection!

Grand Rapids, Michigan has many wonderful communities in great variety of Locations!

AND...

Interest Rates though on the rise are still affordable for most buyers!

Incredible Home Values and a Wide Range of Possibilities have made this market one of the most extraordinary times to be purchasing a New Home.

Well, the message seems to be getting through.  I received this e-mail from our Real Estate Board CEO about some Extremely Positive Events that are happening in the real estate scene in Grand Rapids, Michigan.

Downtown Grand Rapids, Mi view over the Grand River

  • Market Watch Update:
  • According to the National Association of REALTORS, a forward-looking indicator based on pending sales of existing homes suggests the market may stabilize in the months ahead.
  • And check out the local statistics for July:  the sale of single family homes increased 8.6% over the same period last year. 
  • Lawrence Yun, NAR senior economist, said it is encouraging that the increase occurred in all four major regions. "However, it is too early to say if home sales have already passed bottom," he said. "Still, major declines in home sales are likely to have occurred already and further declines, if any, are likely to be modest . . ."

 

While the summer weather has remained comfortably temperate for most of the season so far, our office has definitely seen a increase in market activity!  The Summer Buying Season is Hot! Buyers want to buy homes!  Our biggest challenge has been dealing with the tightening credit/lending standards.  Many members of the public still think that the conditions which marked the mortgage standards over the past 3-4 years still apply.  They don't and the criteria in some cases is much tougher.

Home owners who need to sell their homes are also getting more realistic.  During our Free Staging Appointment, homeowners get detailed notes about what to do to get their home sold.  We've named our sessions the "Getting This Show on the Road Staging Appointment!"  It's working.  A memorable home showing is likely to create an impression.  Homes that linger through lasting impressions are definitely more likely to be sold quickly. 

At Audu Real Estate, helping you to create a Memorable Impression when you list your home is our speciality.  Getting your home sold quickly is our priority.  If you've been wondering about if you can sell your home, call us for a Free Strategy Consultation.  Contact us today to find out how your home can spend as little time as possible in our home inventory list and move to our Home Sold Archive!

* Picture of the dramatic view of the skyline of downtown Grand Rapids, Mi is courtesy of Bigoneepson flickr.

Copyright 2007 Audu Real Estate  All Rights Reserved

 

 

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Ambassador
920,196
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate
Yea!! Go GR, you do an excellent job of representing your community.
Aug 08, 2007 01:28 PM #1
Rainer
212,227
Carol Smith
Casmi Photography - Mebane, NC
Lola - I have been to Grand Rapids a few times and always found it to be an interesting city.  But then when I come home it dawns on me that GR has a really big city feel and Toledo feels like a small town - especially the area I live in.  Kind of like a night and day thing.  Thanks for supporting your city so well.  If more people did that with their own areas we would not have the constant migratory process all across the country.
Aug 08, 2007 02:23 PM #2
Rainmaker
1,073,964
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!
Lola, nice market and region information.  The photo is nice too.....living here in GR we take some of the lifestyle issues we enjoy as commonplace.  Good post Lola.
Aug 08, 2007 02:52 PM #3
Rainmaker
387,816
Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!
Hi Missy, I appreciate the compliment...particularly from someone whose name is synonymous with Ann Arbor Real Estate as far as I'm concerned! :)
Aug 08, 2007 03:15 PM #4
Rainmaker
387,816
Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!
Hi Carol, Thanks for stopping by to read and comment.  Grand Rapids, Michigan is a really surprising city in many ways.  My sister was here recently from the Maryland/DC metro area and she remarked on how surprised she was to find Grand Rapids, Mi to be so sophisticated. 
Aug 08, 2007 03:17 PM #5
Rainmaker
387,816
Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Hi Gary, You're so right.  We enjoy a very good quality of life in Grand Rapids, Michigan and have much to be thankful for.  Whenever I visit other areas of the country, I'm always glad to come back home!

Aug 08, 2007 03:18 PM #6
Anonymous
FlipKing

 

Totally agree. It’s always a good time to buy.  I hear people complain about affordability but real estate has never gone down before so if they have to stretch a bit with a neg-am loan it no big deal. Better to get in now before houses are really expensive in five years.  The fact that we have record foreclosures doesn’t really matter because the unemployment rate is low and the economy is strong.

As my broker says, just refinance or sell the thing for a profit is the worst that can happen. I could probably sell all of my condos at a huge profit that I bought last year despite all of the doom and gloomers predictions.  Plus the NAR economists are predicting a huge rebound for next year which will be putting my kids through college.

They're not making any more land here you know!

Aug 16, 2007 02:18 PM #7
Rainer
48,229
Ethan Dozeman
Realty Executives Platinum Group - Grand Rapids, MI
Real Estate in Grand Rapids
thanks for the positive market report on Grand Rapids!! Just don't read the GR Press you may get sent back to a bad attitude towards our market
Aug 16, 2007 04:07 PM #8
Rainmaker
387,816
Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!
Hi FlipKing..Yes, They're not making anymore land.  Sooner or later things cycle. Real estate will always be a smart investment.  Throughout history and in every nation in the world, ownership of the land is a vital foundation of prosperity.  The issue here in the United States is WHO will ultimately benefit and reap the rewards of the investment.  That's what hangs in the balance with the current crisis.
Aug 18, 2007 05:59 AM #9
Rainmaker
387,816
Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Hi Ethan, Thanks for your comment.  I respectively disagree however about the benefits of reading the Grand Rapids Press.  I think it is important for the real estate community to be aware of what the media is saying about our industry.  The fact is that they're usually a little "behind the curve."  Most real estate agents recognized the the downward shift long before it was widely reported in the press.  T

he same will be true about the turn around.  Julie Rietburg's memo to the Realtor® community in Grand Rapids about the increase in sales prices is a case in point.  That's why it is so important for those who work this business everyday, real estate agents, to have a "voice" in shaping the context of the discussion.

Aug 18, 2007 06:03 AM #10
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