[Sold] $65,000 Midtown home in good shape, 13 Inlet PlaceRecently Sold
If you can get past a basement with a dirt floor, this home is a rare find in Midtown area: good shape, a street away from the farmers market, convenient to downtown and many neighborhood offerings. Plenty of parking also included, which is rare for the street. Two rooms upstairs, main floor laundry, bath and bedroom, fresh carpet paint and flooring throughout.
Grand Rapids MI Only Midwest Metro in Top 25 Best-Performing CitiesNews
Grand Rapids Michigan moved up on the list of Best-Performing Cities this year from #48 to #25, becoming the only Midwest metro on the list. Other Cities in the top 25 include San Francisco (#1), Austin (#2), Denver & Boulder (#13 & 14), Portland (#16), San Diego (#22) and Charlotte (#23).
The Milken Institute is “a nonprofit, nonparitsan economic think tank” that “works to improve lives around the world by advancing innovative economic and policy solutions that create jobs, widen access to capital, and enhance health.”
PLEASE CLICK HERE TO VIEW THE FULL REPORT
“GRAND RAPIDS–WYOMING, MICHIGAN, vaulted 23 places to 25th place, becoming the only Midwest metro in our Top 25. Strong job growth, which was 7 percent above the national average in 2012-13, coupled with recent wage growth contributed to the metro’s improved showing.
“Building on the existing manufacturing base, jobs are beginning to return to the Grand Rapids-Wyoming metro after a sharp drop in employment during the recession. The metro lost more than 10,000 manufacturing positions between 2008 and 2009, and was still slightly below 2008 levels of sector employment in 2013. However, the machinery manufacturing sector added 1,291 jobs between 2008 and 2013, with half of those jobs added in 2013. The fabricated-metal manufacturing sector also added jobs–637 in 2013–and this recent momentum is creating a sense of optimism.
“Firstronics, which provides electronics manufacturing services and focuses on contract medical-device manufacturing, announced in late 2013 that it would add 110 jobs and committed to a $2.45-million expansion in Grand Rapids.”
New Holland Brewery Coming to Bridge Street!News
Development news, link to original article here.
Grand Rapids Home Values Up 16 Percent After Healthy Spring MarketNews
With the Spring Market well underway in Grand Rapids, its time to look back and see if the ecomonists favorable yet conservative predictions from 2012 have come true. After the big and constant decline over the past few years, I’m happy to say that Real Estate is trending upward, probably faster than we were expecting.
Comparing January-April 2012-2013, the numbers are looking great. Here are a few facts that point to a recovering market:
Heritage Hill & surrounding historic district, Grand Rapids:
In 2012, 42 homes in the surveyed downtown area were sold from the beginning of the year through April, as compared to 43 homes sold during that same period in 2013. The average sale price was $189,000 in 2012, and $215,000 in 2013. That is a healthy increase of around 14% from last year to this year.
Other neighborhoods of note:
Grand Rapids Downtown Historic District: up 14%
Grand Rapids Northeast: up 11%
Walker: up 15%
Northwest Neighborhoods: up 17-27%
Northeast Side: up 5-38%
East Grand Rapids: up 20%
Southeast Areas: up 2-23%
Wyoming: up 15-23%
Grandville: up 9%
Kentwood Neighborhoods: up 9-13
West Side: up 8%
Grand Rapids Township: up 26%
Cascade: up 25%
Overall, the Greater Grand Rapids area has had a similar number of listings and sales in Spring 2013 as compared to Spring 2012, but the average sale price this year is $132,688 as compared to least year’s Spring average of $114, 626. That’s an almost 16% increase across the Greater Grand Rapids area.
Right now, consumer confidence is up and foreclosure listings are down. Over the next 2-3 years, the banks will be selling the rest of their Shadow Inventory, which are the foreclosures that remain from the dark period we just experienced. Still, there are far fewer foreclosure listings now than there have been in recent years, and the confidence of home sellers continues to grow along with sale prices.
With inventory this low and lots of buyers out there, the market seems to favor the seller. Still, there are some foreclosure listings in the mix, which jostle the recent memory of a heavily-weighted buyers market. Right now, it is a great time to engage in this Real Estate market, whether you plan buy or to sell. Buyers are faced with historically low interest rates coupled with low prices. Sellers are experiencing the most success since prior to 2008. These are good times.
All statistics courtesy of Grand Rapids Association of Realtors
Grand Rapids Makes Forbes List of Top 10 Cities for Finding EmploymentNews
Full Article Link HERE
According to Forbes Magazine, Grand Rapids is one of the best places in the US in which to find employment.
Recently, Forbes also named Grand Rapids the #1 Best City for Raising a Family.
Thanks for your Business!News
Thanks to you, in 2012, I was able to help 28 clients purchase or sell, in price ranges from $30,000 to $230,000, in countless locations. 19 of those clients were referred to me by past real estate clients of mine. I sold 8 out of 9 of my listings at an average of 97.7% of list price and less than 30 days on the market.
I’ve been a broker for three years now, an agent for nine, and a property investor for fifteen years, and I handle each transaction personally from start to finish.
I thank each and every one of you who has taken the time to refer me to a friend. I would not be in business without you.
National Home Prices Back to 2003 LevelsNews
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.
West Michigan Real Estate Market Continues Noticeable RecoveryNews
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
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