Forest Hills Michigan Neighborhood Real Estate Market Report East-West Village Jan-Dec 2010

Forest Hills Michigan Neighborhood Real Estate Market Report East West Village Jan-Dec 2010

The East/West Village subdivision off  Ada Drive in Ada Township

is a fairly new development. The new housing construction started in 2005

and is still continuing to date. You can buy a resale home or a new home

in this centrally located housing development.  Near both public and

private schools, East Village is also close to  Forest Hills and 28th

Street shopping areas. The Ada Bike or Walking Trail also connects

this area on Ada Drive with the village of Ada, Grand Rapids, and the

village of Cascade.

East Village is also close to the I96 expressway for easy access to many

different parts of our greater Grand Rapids area.  Large, executive style

homes with many amenities and extras are the rule in this neighborhood.

If you would like to start with a brand new house in Forest Hills,

this may be the place for you to call home.

Forest_Hills_Central_High_School_ sign

Real Estate Market Report East-West Village Jan-Dec 2010

2010 For Sale: 7

East Village Homes average list price: $ 448,871

East Village average price/sq ft (main floor): $ 166.54

East Village average days on the market:177 days

Pending Sales : 0

 

Sold 2010 Homes : 7

High Price – $480K  Low Price: $345K

East Village Average SOLD Price: $ 416,857

East Village Average price/sq ft: $162.93

East Village Average SOLD days on market: 87 days

SOLD Price % of List Price: 99.15

 


Market Synopsis: East -West Village Homes are selling for a little

more in 2010 than in 2009, though it is almost 6 months to do so.

The absorption rate for East -West Village is 12 months, which means

if no new homes enter the marketplace, it will take 12 months

for the current home inventory to sell.  This is  high for the Ada–Forest

Hills area, it reflects the higher prices of the homes and is longer by half

than 2009 sell times for this subdivision.  Higher priced homes are slow

movers on today’s market.

 

 Search Forest Hills Homes

 

Additional Real Estate Articles:

Ada Michigan Real Estate

Forest Hills Michigan Real Estate

 

If you would like further information about East or West Village,

Ada, or Grand Rapids Homes, please contact me directly.

photo of Ada Bike Trail  by Bonnie Westbrook

_____________________________________________________________________________________________________

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!

ar125812212017642 Forest Hills Michigan Neighborhood Real Estate Market Report – East – West Village Jan–Dec 2009 ar125812218972939 Forest Hills Michigan Neighborhood Real Estate Market Report – East – West Village Jan–Dec 2009 ar125812225271331 Forest Hills Michigan Neighborhood Real Estate Market Report – East – West Village Jan–Dec 2009

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Your Property Tax Assessment – Is It Correct?

Your Property Tax Assessment – Is It Correct?

Want to Appeal Your Property Tax Assessment?

Is your property tax assessed correctly? 

Do you know if you are in line with homes that are similar to yours?

Anyone can and should check with their local taxing authority, whether

it is city or township tax assessor to check the facts on record about

your home.  The video above will give you some brief recommendations

on what to do and how to go about appealing if you find errors or

think your property tax assessment should be lower.

 

____________________________________________________________________________________________________

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!

ar125812212017642 Home Buying Trends – Are You Average? ar125812218972939 Home Buying Trends – Are You Average? ar125812225271331 Home Buying Trends – Are You Average?

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Home Buying Trends – Are You Average?

Home Buying Trends – Are You Average?

Continuing a trend since 2007, the share of home buyers purchasing

a previously owned home has increased 53%, while the share purchasing

a new home has declined, 47%. The typical home purchased was 2,200

square feet, had three bedrooms and two bathrooms, was built in

1990, and was 12 miles from the buyer’s previous residence. 90% of buyers

purchased a single family home, median age 36, median income $87K.

Once buyers find the home they are looking for they plan to

stay in their home for 10 years. 

 

front door of a house

American Attitudes About Home Ownership have not changed much

over decades.  Home ownership is still considered one of the foundations

of American life.  That said, many young people are waiting longer

to marry and start families, so home ownership is not entered into

as early as their parents and grandparents.  This may account for the

rise in single homeowners, both male and female.  Their median age

is 41, and they tend to buy smaller homes, average 1450-1550 square feet.

 

First Time Home Buyers’ median age is 30, they earn $59,900, and

74% purchase a single family home.  The youngest group of home buyers

are the 18-24 year olds, their median income is $49,000, 98% are first time

home buyers, and they purchase a home of about 1400 square feet.

Data from NAR

Additional Articles About Home Buying:

Questions to Ask When Choosing a Realtor

First Time Buyer Mistakes

Which Mortgage Do I Choose?

____________________________________________________________________________________________________

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!

ar125812212017642 Foto Friday – Who’s in the Driver’s Seat? ar125812218972939 Foto Friday – Who’s in the Driver’s Seat? ar125812225271331 Foto Friday – Who’s in the Driver’s Seat?

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Foto Friday – Who’s in the Driver’s Seat?

Foto Friday – Who’s in the Driver’s Seat?

Dog in driver's seat

In driving around the city, you just never know when a photo opportunity

will arrive.  This canine companion was happy to pose for me as I stopped

at a light.

 

____________________________________________________________________________________________________

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!

ar125812212017642 Grand Rapids MI Home Seller – Asking More Doesn’t Mean You Will Get More ar125812218972939 Grand Rapids MI Home Seller – Asking More Doesn’t Mean You Will Get More ar125812225271331 Grand Rapids MI Home Seller – Asking More Doesn’t Mean You Will Get More

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Grand Rapids MI Home Seller – Asking More Doesn’t Mean You Will Get More

Grand Rapids Michigan Home Seller – Asking More Doesn’t Mean You Will Get More

About one third of homes listed on the Multiple Listing Service do not sell.

They might be over priced, in very poor condition, bad location, a weird

floor plan or some other oddness about them.  They will sell at the right price,

which is what we are trying to convey.

 

Grand Rapids MI home

 

The correct price is so crucial to the sale of your home, that if you miss

the mark the first time, you are chasing a downward trend that is very

difficult, if not impossible, to catch.

 

This can be tricky, as you don’t want to under price the market.

But the market doesn’t hold still, what was a great price a few months

ago is not a great price today.  You can’t rely on any market information

over 3-6 months old.  You need to know what is happening today.

 

Example : 440/981 = Days On Market/Total Days On Market

The stats above are for a house in the Grand Rapids market that we saw

on the MLS today.  You would think that in almost 33 months on the

market, this homeowner would have realized that their price is not in

line with homes that are selling.  Sure, there have been reductions on

this home’s price, but not enough and not soon enough.

 

Be smart about selling your home.  Use a Realtor who can give you the

straight facts, not someone who tells you what you want to hear.

Unless you want to be like the seller above, chasing a downward market

and watching your competition use you as a price comparison.

 

 Should You Listen to Your Realtor or Your Instincts?

 Free White Paper for Sellers:  Avoid 11 Mistakes that Could Cost

 

____________________________________________________________________________________________________

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!

ar125812212017642 Rockford Michigan Top Best Buy Homes Nov 2010 ar125812218972939 Rockford Michigan Top Best Buy Homes Nov 2010 ar125812225271331 Rockford Michigan Top Best Buy Homes Nov 2010

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Rockford Michigan Top Best Buy Homes Jan 2011

Rockford Michigan Top Best Buy Homes Jan 2011

A list of the TOP Rockford  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 it has updated decor, new flooring, & an

updated kitchen and baths, this would be more per square

foot than a home that still has the 1980’s decor and/or is in

poor condition.

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

prices are adjusted and other homes come on the market.

The homes listed below are probably dated and would need

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 a new roof & mechanicals.

*Some of these homes may be bank owned foreclosures and

not habitable as is or available for a mortgage in present

condition.*

Boardwwalk over dam Rockford Michigan Top Best Buy Homes Nov 2010

Rockford Dam Boardwalk

The total square footage is noted here, although only the

main floors are used to figure price per square foot, even if

the basement is finished.

The Top Rockford Homes to Buy by Price per Square Foot:

2713 Rogue River Dr  $ 42,294     850 Sq Ft   $ 49.76/SqFt

5921 West River Dr   $ 58,000   1124 SqFt    $ 51.60/SqFt

120 S Fremont St     $ 61,900   1508 Sq Ft   $ 41.05/SqFt

2596 Lynnhurst        $ 65,000    975 Sq Ft    $ 66.67/SqFt

6430 Northland Dr     $69,000    1259 Sq Ft   $ 55.52/SqFt

 

5927 Verta              $ 74,900   1376 Sq Ft   $ 54.43/Sq Ft

4771 12 Mile Rd       $ 79,900   1525 Sq Ft    $ 52.39/SqFt

11379 Northland Dr  $ 84,900   1458 Sq Ft    $ 58.23/SqFt

8490 10 Mile Rd      $ 89,680    1620 Sq Ft    $ 55.36/SqFt

6674 Echo Dr NE     $ 89,900    2387 Sq Ft    $ 37.66/SqFt

 

7674 Northland Dr   $ 89,900    1300 Sq Ft    $ 69.15/SqFt

3485 Keswick Dr     $100,000    1502 Sq Ft    $ 66.58/SqFt

6075 13 Mile Rd     $109,900     1750 Sq Ft   $ 62.80/Sq Ft

6202 Meadowlark   $147,500     2160 Sq Ft   $ 68.29/SqFt

1382 Shaw Ct NE   $149,900     2008 Sq Ft   $ 74.65/SqFt

 

9228 6 Mile Rd      $154,900    2414 Sq Ft    $ 64.17/SqFt

3461 Sunny Hill St $164,900    2334 Sq Ft    $ 70.65/SqFt

11107 Crooked Lake $178,000   3360 SqFt    $ 52.98/SqFt

653 Highlander Dr  $195,000    2626 Sq Ft    $ 74.26/SqFt

1913 Woodbriar Ct $199,900    2750 Sq Ft    $72.69/SqFt

*** Recent price reductions on underlined homes

 

There are 11 homes listed under $100K this month and

half of the listings have had price reductions

If you are considering buying in Rockford, now is the time!

Prices are staying low in Rockford, inventory is high and rates

are still low but rising.  Homes that are in great condition

and priced right are selling quickly.  Mid-range homes in

great condition are hot!

Rockford Michigan Real Estate Market Blogs

Rockford Michigan Photo Tour

You Want To Buy A House, Now What?

 

If you would like to view a Rockford Top Best Buys Home,

please contact us 1-888-240-1968 x 0

or email terry@terrywestbrook.com

_____________________________________________________________________________________________________

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!

ar125812212017642 Rockford Michigan Top Best Buy Homes Nov 2010 ar125812218972939 Rockford Michigan Top Best Buy Homes Nov 2010 ar125812225271331 Rockford Michigan Top Best Buy Homes Nov 2010

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Wordless Wednesday – Sno-tastic Michigan

Front_walk_and_driveway

_____________________________________________________________________________________________________

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!

ar125812212017642 Lowell Michigan Top Best Homes Jan 2011 ar125812218972939 Lowell Michigan Top Best Homes Jan 2011 ar125812225271331 Lowell Michigan Top Best Homes Jan 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM