A Microcosm of Home Values Decline in Forest Hills Michigan

Many experts will tell you that all real estate is local. Just how local

do you get? I just did a little research for a client this weekend and

thought I would share it with you. Forest Hills is a strong local market

and homes continue to sell here, but we have still seen a decline. Home

values may be stable in one neighborhood and falling in another.

This is all predicated on how badly people want to live in your area.

I did research on an “average home” in Forest Hills.

Your Home

The search parameters were:

Forest Hills School District

Two Story Home

2200- 2600 square feet

Year 2006 2007 2008

Avg Sold Price $ 308,488 292,289 267,278

Homes Sold 88 86 78

Cost$/SqFt 127.53 120.80 112.61

An overall decline of 13% in the last 3 years

What can you do but read this and weep? You might like to

attend your local township Board of Review. This

is the only place you can petition to get your tax assessment

lowered.

See your local taxing authority for details. The Review Boards

usually meet in March of each year.

Grand Rapids Real Estate