East Grand Rapids Michigan Real Estate Market Report Sept 2011

East Grand Rapids Michigan Real Estate Market Report  Sept 2011

East Grand Rapids is a community of homes priced from the

low $100,000’s to over $2,000,000 with the majority of homes

selling from $120K to $400K.  Since this is such a large spread

it is difficult to produce true averages beyond a neighborhood

level, so take that in consideration with the following statistics.

EastGrandRapids_ leaves

July 1 to Sept 30, 2011 EGR STATS:

94 Active Listings for sale

11 Pending Home Sales

83 Sold Homes

$286,813 Average Sold Price

92.9% of Sale Price to List Price

Absorption Rate: 4.4 months

East GR is seeing a slight rise in home prices over first half

2011 averages, and the Absorption rate is much lower.  Average

sold price is about 10% higher but % of sale price to list price

 

 

SEARCH FOR EAST GRAND RAPIDS HOMES

SEARCH for EGR Bank Owned + Short Sale Homes

More East Grand Rapids Articles:

East Grand Rapids Real Estate Market Reports

East Grand Rapids Michigan ~ America’s Hometown

____________________________________________________________________________________________

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

ar125812212017642 East Grand Rapids Michigan Real Estate Market Report Jan – June 2011 ar125812218972939 East Grand Rapids Michigan Real Estate Market Report Jan – June 2011 ar125812225271331 East Grand Rapids Michigan Real Estate Market Report Jan – June 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Flipping or Renting? Which Option is Best?

Flipping or Renting?  Which Option is Best?

Many investors, big and small, are reconsidering flipping houses

in this slow-as-molasses housing market we are in.  Renting an invest-

ment home is becoming a much more viable option in many markets,

including Grand Rapids Michigan. 

This article discusses the new trend to rent an investment house

to get a fast dollar return.  Single Family Rental homes are in high

demand in most market areas but check with your local realtor

before splashing into this pool.

 Grand Rapids MI Home

Renting single family homes is very often the only choice for sellers

that find themselves unable to sell their home for the amount they

have invested.  This option can be a great alternative to selling;

as long as you have all your bases covered: 

  1. Renters may pay or not – Do you have contingency funds?
  2. Do you have an eviction plan? This can happen to anyone – be prepared.
  3. Renters may damage your property –Plan on additional funds.
  4. Video home before moving in with tenants – condition is verified.
  5. Houses need Maintenance – plan on time/money for repairs.
  6. Consider a property manager if you don’t want to deal with tenants.
  7. Home insurance canceled and/or increased – vacant homes are at risk.

_____________________________________________________________________________________________________

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

ar125812212017642 Kentwood Michigan Top Best Buy Homes Sept 2011 ar125812218972939 Kentwood Michigan Top Best Buy Homes Sept 2011 ar125812225271331 Kentwood Michigan Top Best Buy Homes Sept 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Grand Rapids Beckwith Hills Home Beckons

Grand Rapids Beckwith Hills Home Beckons

Grand Rapids is a large metropolitan area that is full of neighborhoods.

Neighborhoods like Beckwith Hills, which is close to I 96 and downtown.

Well maintained homes are the rule in this very popular neighborhood.

This well built home with 4 bedrooms, 3.5 baths is located on

a lot with shade trees, has an extensive deck, and a finished

lower level walk out.  In addition, two fireplaces that will keep

you warm and cozy this winter.  This home has a main floor family

room, laundry room and large bedrooms all on the upper floor.

 

For more photos & information, visit our website.

For a private showing, call me at 1-888-240-1968 ext 0 or

email me at 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.

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

ar125812212017642 Ada Michigan   Roselle Park Fall Festival – Oct 1, 2011 ar125812218972939 Ada Michigan   Roselle Park Fall Festival – Oct 1, 2011 ar125812225271331 Ada Michigan   Roselle Park Fall Festival – Oct 1, 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

1869 Giddings Ave Grand Rapids Michigan – Just Listed

1869 Giddings Ave Grand Rapids Michigan – Just Listed

front_elevation_1869_Giddings_GR_MI

This spacious well constructed home in Southeast Grand Rapids has many

extra features not found on most homes in the area.

  1. Sits on 3 lots
  2. 3 garage stalls
  3. 3 decks and a patio
  4. Spacious rooms & closet space

1869_Giddings_Living room

All rooms are generously sized, many have original oak wood flooring.

1869_Giddings_Master_bedroom

The Master Bedroom has 2 large walk in closets, wood flooring, and

measures 18’9’” x 15’ 10”.

 back_decks_1869_Giddings

The huge backyard is fenced on the back, has a storage shed, multiple

decks, and a patios.   This home has replacement windows, a single and

double attached garages, a finished recreation room, and new carpeting.

 

Available for immediate occupancy, come take a look at our Open House:

Sunday, 9-11-2011  3:00 – 5:00 pm.

 

For more info see our website

____________________________________________

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

ar125812212017642 Forest Hills Michigan Neighborhood Real Estate Report – Watermark Residences Jan – Aug 2011 ar125812218972939 Forest Hills Michigan Neighborhood Real Estate Report – Watermark Residences Jan – Aug 2011 ar125812225271331 Forest Hills Michigan Neighborhood Real Estate Report – Watermark Residences Jan – Aug 2011

Westbrook Realty Grand Rapids MI Real Estate

                          Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

East Grand Rapids Michigan Top Best Buy Homes August 2011

East Grand Rapids Michigan Top Best Buy Homes August 2011

Our list of the Top Best Buy East Grand Rapids Houses

to buy is based on price/square foot.  If two similar homes are

listed at similar prices, their price per square foot should be similar

and it should reflect the interior finish of the home.  East GR has

homes listed at almost $500/Sq Ft and under $100/Sq Ft, so the

range in this community is wide.

If a home has new kitchen, wood flooring, and new bath updates,

this would be more valuable per square foot than a home that still has

the 1980’s cabinets, dated bathrooms and worn carpeting.

Please note that this list can change daily as some homes sell, prices

are adjusted and other homes come on the market. 

Birds in Flight sculpture downtown EGR

August 2011 –  TOP BEST BUY East Grand Rapids Homes

The Top East GR Homes to Buy by Price per Square Foot:

 

2246 Estelle                 $96,000    1070 Sq Ft   $89.72/SqFt

2450 Gilmour St          $109,750   1500 Sq Ft   $73.17/SqFt

1600 Wealthy St SE   $114,900    1248 Sq Ft   $92.07/SqFt

2543 Richards Dr       $129,900     1400 Sq Ft    $92.79/SqFt

1112 Eastwood           $134,000    1275 Sq Ft   $105.10/SqFt

2145 Hall St                 $137,500     1198 Sq Ft   $114.77/SqFt

2151 Tenway             $141,900    1396 Sq Ft    $101.65/SqFt

1058 Orchard Ave      $149,900    1335 Sq Ft    $112.28/SqFt

3009 Lake Dr               $159,900    1600 Sq Ft    $114.54/SqFt

2243 Heather St         $164,900    1416 Sq FT   $99.94/SqFt

2050 Tenway             $164,900     1520 Sq Ft    $116.45/SqFt

2405 Oakwood Dr     $165,000      1786 Sq Ft   $92.39/SqFt

430 Rosewood Ave    $179,900      2169 Sq Ft    $82.07/SqFt

1032 San Juan Dr       $179,900       1696 Sq Ft    $106.07/SqFt

1600 Robinson Rd      $199,000       2516 Sq FT    $79.09/SqFt

1245 Woodshire        $199,750      2248 Sq Ft    $88.46/SqFt

319 Kingswood Rd      $209,000      1796 SQ Ft    $116.37/SqFt

1753 Breton Ave         $210,000      2740 Sq Ft    $76.64/SqFt

1555 Edgewood Ave   $212,000     2123 Sq Ft    $99.44/SqFt

1739 Breton Rd            $244,900     2067 Sq Ft    $118.48/SqFt

1059 Eastwood Ave    $249,500     2124 Sq Ft     $117.47/SqFt

2254 Brighton Dr         $259,900    2250 Sq Ft    $115.51/SqFt

1447 Woodcliff Ave    $274,900     2861 Sq Ft    $96.09/SqFt

2733 Maplewood Dr     $295,000    2746 Sq Ft    $107.43/SqFt

3131 Lake Dr                $319,900    3300 Sq Ft     $96.94/SqFt

2649 Boston St SE      $425,000    3666 Sq Ft    $115.93/SqFt

22 Pending, 14 Sold in the last 30 days in EGR

Average Sale List Price  $ 276,921

Home sales have increased this last month, home inventory

is  moving in East GR.  Distressed properties are still popping up

but much scarcer than other areas around GR and the bidding wars

are on.  Average sold price jumped because more expensive homes

were the majority of sold homes last month. 

 

SEARCH EAST GRAND RAPIDS HOMES

Bank Owned & Short Sale EGR Homes Search

Related Posts:

Which Mortgage Do I Choose?

East GR  Real Estate Market Articles

Home Buyer Questions & Answers

East Grand Rapids – America’s Hometown

*Some of these homes may be bank owned foreclosures and

not habitable as is or available for a mortgage in present

condition.  Sold-As-Is*

If you would like to view an East Grand Rapids Home,

please contact us @1-888-240-1968 x 0 or email us :

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.

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

ar125812212017642 East Grand Rapids Michigan Top Best Buy Homes July 2011 ar125812218972939 East Grand Rapids Michigan Top Best Buy Homes July 2011 ar125812225271331 East Grand Rapids Michigan Top Best Buy Homes July 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Forest Hills Michigan Top Best Buy Homes July 2011

Forest Hills Michigan Top Best Buy Homes July 2011

Forest Hills Michigan Top Best Buy Forest Hills Homes

(Ada-Cascade) to buy, based on price per square foot.

Price per square foot is a great leveler, if two homes are

priced similarly they should be very comparable in amenities.

These homes might need major repair work done, such

as new kitchens and baths, roofs, new plumbing, electrical &

other major mechanicals.  They may have dated decor,  an

odd floor plan, or additions/add-ons that are not what most

people are looking for.

CentralwoodlandsEntrance thumb Forest Hills Michigan Top Best Buy Homes June 2011

This list could include properties in Ada Township, Cascade

Township, Grand Rapids Township, Lowell Township, and the

city of Kentwood.

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

prices are adjusted and other homes come on the market.

The Top Forest Hills Homes to Buy by Price per Square Foot:

2676 Deli Ct. NE                   $86,000    1092 Sq Ft    $78.75/SqFt

111 Greenbrier Dr SE          $88,400    1610 Sq Ft   $54.91/SqFt

2512 Appleton Ave NE        $92,500    1224 Sq Ft   $75.57/SqFt

9035 Bailey Dr NE                $98,500    1272 Sq Ft   $77.44/SqFt

4191 Bradford St                 $129,900   1816 Sq Ft   $71.53/SqFt

1043 Farnsworth                $139,900    1680 Sq Ft   $83.27/SqFt

6367 3 Mile Rd                    $ 139,900   1704 Sq Ft    $82.10/SqFt

1607 Thornapple Dr           $149,900    1806 Sq Ft    $83.00/SqFt

6384 Cascade Rd                $159,900    2300 Sq Ft    $69.52/SqFt

3451 Cascade Rd               $160,000     2500 Sq Ft   $64.00/SqFt

2150 Forest Hill Ave          $169,500     2144 Sq Ft   $79.06/SqFt

6905 Adaridge Dr SE       $169,900    1896 SqFt    $89.61/SqFt

8824 Grand River Dr           $169,900     2330 Sq Ft   $73.92/SqFt

6588 Tanglewood               $170,000     1977 Sq Ft   $85.99/SqFt

4116 Burton St SE               $170,000     2682 Sq Ft   $63.39/SqFt

6181 Witherbee Dr SE        $174,900    2022 Sq Ft   $86.50/SqFt

2457 B Leffingwell             $179,900   2070 Sq Ft     $86.91/SqFt

7244 Thorncrest                 $179,900   2077 Sq Ft    $86.62/SqFt

1537 Laraway Lake           $185,000   2166 SQ Ft     $85.41/SqFt

2324 Beatrice Dr NE          $225,000   2690 Sq Ft    $83.64/SqFt

5900 Hall St SE                 $239,900   2880 Sq Ft    $83.30/SqFt

8275 Bailey Dr SE            $249,900   3192 Sq Ft    $78.29/SqFt

955 Honeycreek Ave      $289,900    3828 Sq Ft   $81.99/SqFt

Summer buying season is on and heating up in Forest Hills,

64 sold homes and 85 pending sales in the last month.

Average sold price  = $ 285,802

 

Pricing seems to have stabilized in Forest Hills School District.

If you are willing to do repairs and update a home, there are still some

good buys at historically low interest rates, though rates and mortgage

requirements are rising.  The homes in the most up-to-date condition

sell the fastest, as most buyers do not want to do repairs or updates.

WARNING: Some of these homes may be bank owned foreclosures,

short sales and not habitable as is or available for a mortgage

in present condition.

Search For Forest Hills Homes

Search Short Sale & Bank Owned Forest Hills Homes

More Forest Hills Michigan Real Estate Articles

If you would like to see a Forest Hills Home, please contact

us at 1-888-240-1968 ext 0 or email us at:

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

ar125812212017642 Forest Hills Michigan Top Best Buy Homes June 2011 ar125812218972939 Forest Hills Michigan Top Best Buy Homes June 2011 ar125812225271331 Forest Hills Michigan Top Best Buy Homes June 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Walk thru this New Kentwood Listing

Walk thru this New Kentwood Listing

Too late – Another Westbrook Realty Sold Home

Well maintained 3 bedroom tri-level home has a 1 full bath, 2 half baths,

a wood burning stove, air-conditioning, and a  large covered patio

for outdoor living.  The large backyard is fenced and there is a

garden area with storage shed behind the 2 stall garage.

____________________________________________________________________________

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

ar125812212017642 Rockford Michigan Real Estate Market Report Jan – June 2011 ar125812218972939 Rockford Michigan Real Estate Market Report Jan – June 2011 ar125812225271331 Rockford Michigan Real Estate Market Report Jan – June 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

East Grand Rapids Michigan Real Estate Market Report Jan – June 2011

East Grand Rapids Michigan Real Estate Market Report  Jan-June 2011

East Grand Rapids is a community of homes priced from the

low $100,000’s to over $2,000,000 with the majority of homes

selling from $120K to $400K.  Since this is such a large spread

it is difficult to produce true averages beyond a neighborhood

level, so take that in consideration with the following statistics.

Gaslight Village Shopping EGR

2011 First Half EGR STATS:

146 Active Listings for sale

30 Pending Home Sales

80 Sold Homes

$260,384 Average Sold Price

95.21% of Sale Price to List Price

Absorption Rate: 7.9 months

Synopsis:  East GR is seeing a slight rise in home prices

over 2010 averages, though the  Absorption rate is slightly higher.

Demand for East GR homes is about the same as 2010 but

indices are looking up, so far.  If the bank owned homes are

dumped back on the market, this would erode prices further.

 

 

More East Grand Rapids Articles:

SEARCH FOR EAST GRAND RAPIDS HOMES

SEARCH for EGR Bank Owned + Short Sale Homes

East Grand Rapids Real Estate Market Reports

East Grand Rapids Michigan ~ America’s Hometown

____________________________________________________________________________________________

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

ar125812212017642 East Grand Rapids Michigan Real Estate Market Report Jan Dec 2010 ar125812218972939 East Grand Rapids Michigan Real Estate Market Report Jan Dec 2010 ar125812225271331 East Grand Rapids Michigan Real Estate Market Report Jan Dec 2010

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

Forest Hills Michigan Real Estate Market Report April – June 2011

Forest Hills Michigan Real Estate Market Report April – June 2011

Forest Hills is actually a school district in Ada–Cascade  real

estate market that is always active. These 2 Grand Rapids suburban

communities have wonderful neighborhoods, some older, some new

with Top Ranked Forest Hills Public Schools and private schools,

such as Ada Christian that attract many home owners.

This report will cover the second quarter 2011 Forest Hills real

estate market activity.

hands banner at Northern Trails

Forest Hills April – June 2011 Real Estate Market Report:

Active Listings – 440

Average Sold Price:

Above $250K = $ 404,154

Below $250K = $ 158,056

Pending – 90

Sold – 190

% Sale Price to List Price – 94.6%

Absorption Rate: 4.7 Months

Please bear in mind that this report is all about averages.

While it might take one home 330 days to sell, another may sell in

under a week.  Condition, location, and amenities play a big role

in a fast sale.  Even though there are many multi-million dollar homes

in this district, the majority of homes are under $400K with the

average sold price at around $300K.

 

The Absorption Rate at 4.7 months means that it will take about

4.7 months for the current inventory of homes to sell, if selling at the

current rate.  This is considered a normal market. Real estate is

selling in the Forest Hills district  As in a typical market, spring and

early summer experience many home sales.

 

Additional Forest Hills Articles:

SEARCH FOREST HILLS HOMES

SEARCH Forest Hills Bank Owned – Short Sale Homes

Forest Hills Real Estate Market Reports

Forest Hills District Ranks Top in State

Forest Hills District Posts MEAP Scores

If you would like specific information about an Ada, Cascade or

Forest Hills MI Home, please contact me directly.

Copyright 2011  All rights reserved

Photo of Forest Hills Northern Trails School Banner 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. We believe: Grand Rapids is a Great Place to Live!

ar125812212017642 Forest Hills Michigan Real Estate Market Report Jan March 2011 ar125812218972939 Forest Hills Michigan Real Estate Market Report Jan March 2011 ar125812225271331 Forest Hills Michigan Real Estate Market Report Jan March 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

West Michigan Home Improvements that Could be a Mistake

West Michigan Home Improvements that Could be a Mistake

Don’t over improve your home or price it out of the neighborhood.

If all the homes in your neighborhood are priced in a category, don’t

try take your home to the next level with home improvements that

are unwise investments.  We see homeowners do this all the time.

They figure they will get the money back because buyers will

pay more for a home with valuable additions.  Not necessarily so.

P1030182

A perfect example is pools, indoor and outdoor.  Pools are great for

summer recreation here in Michigan, for people that want them.

Many do not.  In fact, most buyers will discount your home if it has

a pool.  They will estimate the cost of removal or filling it in as an

added expense they weren’t planning on.

 

Another example of over improvement is adding a basement bedroom.

This can be a great way to add another bedroom.  But don’t plan on buyers

paying more for your home, they won’t.

 

Also included in this list is finishing a basement.  A finished basement

has added appeal for many homeowners, but they won’t repay your

construction costs.  This is another item that you should plan on

enjoying while you live in the home, not as a return on investment.

 

Expensive improvements that don’t fit the home could be on the top

of the Don’t Do It List!  If you live in a $100,000 home in a $100,000

neighborhood of homes, don’t put in a $30,000 kitchen.  Buyers will

expect a kitchen, but will not repay you for granite countertops,

top-of-the-line cabinetry and a Viking range.  Use common sense and

remember, you will probably want to sell your home someday.

 

Related articles:

NAR Cost VS Value 2010 Report

Do I Need a Permit for my Home Improvement Project?

_____________________________________________________________________________________________________

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.

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

ar125812212017642 East Grand Rapids Michigan Top Best Buy Homes May 2011 ar125812218972939 East Grand Rapids Michigan Top Best Buy Homes May 2011 ar125812225271331 East Grand Rapids Michigan Top Best Buy Homes May 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM