FULL ARTICLE HERE AT MLIVE.COM
TIME magazine says ArtPrize is a place to party. Time’s travel section today named ArtPrize on its worldwide list of “Five Festive Events You Won’t Want to Miss in 2013.” ArtPrize 2013, which returns in September, is listed alongside an event in Indonesia, one in New Zealand and two in Europe.
FULL ARTICLE HERE AT MLIVE.COM
An Ohio developer plans in January 2014 to start building riverfront housing on a former Ryder Truck property at the end of 10th Street NW.
Grand Rapids Planning Commission has approved a site plan by The Woda Group for a residential complex on the west side of the Grand River at 936 Front Ave. NW. The GrandView Place would be the city’s first housing redevelopment between U.S. 131 and the river, aside from the Riverhouse condominiums downtown.
The housing would include up to 93 housing units, 80 of them offered at subsidized rents…
GRAND RAPIDS, MI – After more than a year of negotiating, the city and the prospective developer of a parking lot at the corner of Fulton Street and Ionia Avenue NW are ready to proceed with a deal that could yield an 8-story building.
Grand Rapids City Commission on Jan. 22 is expected to consider a three-year option for CWD Real Estate to purchase the property adjacent to the Ottawa-Fulton parking ramp and across Fulton from Van Andel Arena….
GRAND RAPIDS, MI – Creston Plaza, a 40-year-old public housing project on the city’s near Northeast Side, is headed for a total makeover in the next year or so, according to Carlos Sanchez, executive director of the Grand Rapids Housing Commission.
The Housing Commission hopes to demolish the 100 apartments and replace them…
According to this article from CNN Money, the housing market has recovered to the point of around 2003, which is actually not too bad considering 2006 is widely-accepted as the peak of the real estate market. We wont be seeing 5-7% annual increases any time soon like we were predicting back then, but many economists are predicting a small 1-2% increase from this year to next.
The new Rob Bliss video, funded by Pure Michigan, produced by Peter Fox.
By Pete Bruinsma
Great news for people in West Michigan, the real estate market is finally recovering!
According to research on sold homes within the Grand Rapids Association of Realtors data range, February is when this year’s Spring market really kicked in, showing a 40% increase in sales volume in the region as compared to the year before.
Current reports show that the strengthening of West Michigan market will continue. Not only are total number of homes increasing, but value is also increasing. This is a good sign for people worried about foreclosures dragging down prices, bad news for those looking to capitalize on home flips and property investments.
GRAR stats from May 2011 show that 1100 homes were sold in West Michigan, as compared to 1400 in May 2012. Total sales volume in May of 2011 was $123 Million as compared to $180 Million this year. That’s a 20% increase in number of homes sold, and a 32% increase in value.
June continues to be a hectic month for Realtors in the area, and listings continue to sell.
The numbers above are a good indicator that West Michigan is selling fewer “fire sale” listings, and more on normal terms. So how do these numbers translate to property value? CNN Money predicts that the average home in West Michigan will appreciate by 3.6% in the next year. People in West Mighigan, get ready for your homes to start appreciating again!
All Rights Reserved, © Pete Bruinsma 2012
*excerpt below* Full Article here at MLive.com
EAST GRAND RAPIDS, MI – Dan and Jessica Molloy are still waiting for furniture in the living room of their new home on Maxwell Avenue SE.
But that gives the young couple time to savor the golden hardwood floors that stretch from the dining room on one side of the main floor to the sunroom that serves as Dan’s office on the other side.
“We love hardwood floors,” says Jessica. “I love the living room even though it doesn’t have any furniture. And this is the first time we’ve had a fireplace.”
It’s clear the Molloys are excited about their new home, which gives them more space than the Northeast Side bungalow where they lived for the first seven years of their marriage.
For example, there are little things like the half-bathroom next to the kitchen. “This is actually a big deal for us,” says Jennifer, noting their former home had just one bathroom.
The Molloys moved into the house with their dogs, Bailey and Stuart, in February — soon after they began their house hunt after Christmas.
They found the house shortly after deciding to put their house on Aberdeen Street NE on the market.
“We loved living on the Northeast Side, but we had kind of outgrown our house,” says Dan.
After looking at several other larger homes on the Southeast Side, they fell in love with the 92-year-old two-story colonial they found while searching on theGrand Rapids Association of Realtors website.
With Realtor and friend Pete Bruinsma advising them as a buyers agent, they discovered there was a pending offer on the house. They had two days to put together an offer or risk losing the house.
“We didn’t know what the other offer was,” said Dan. But after putting together their best offer and waiting over a nervous weekend, they learned their offer had topped the competing offer.
Then came the task of selling their other house quickly or facing the prospect of becoming landlords.
After moving into the new house with their two dogs, much of their energy was involved in staging and preparing the old house for sale. Fortunately, it sold after five days on the market.
Statistics Compare February 2012 to February 2011
Statistical Source: www.GRAR.com
Greater Grand Rapids Sales & Listings
(c) March 2012 Pete Bruinsma
New Listings
February 2012: 1624 (11% increase from February 2011)
February 2011: 1458
Total Value of Sold Homes
February 2012: $128,004,683 (40% increase)
February 2011: $91,420,627
Homes Sales
February 2012: 1127 (23.7% Increase)
February 2011: 911
Year-to-Date Home Sales Total Value
Jan-Feb 2012: $225,445,647 (up 21.6%)
Jan-Feb 2011: $185,357,779
