West Michigan's real estate market is unprecedented at this moment, unlike anything we've seen in 25 years. First-time buyers especially are feeling the crunch, battling 10-15-20 offers on homes priced $175,000 and under. These rampant bidding wars are being won with offers 8% to 10% to 12% over list price, with buyers waiving inspections and offering to make up pricing shortfall on appraisal discrepancies. Buyers with FHA or 5% down conventional loans are finding it very difficult to secure a contract on a home.
Listen to Bob's interview with WGVU just this past week.
Consider these numbers so far on activity in Jan-Feb 2017:
* Sold prices are up 7.3% from this time last year.
* Listing inventory is down -8.5% over the first two months of this year vs. 2016.
* There is only a 1.3 month overall supply of inventory now on the market -- even less for homes under $250K.
* Homes sold over $500,000 (33 so far) account for only 3% of the 1,136 homes sold YTD on our MLS.
Planning on selling? Call us at 575-0140 or 437-0209 to book a pre-listing consultation. We'll help you get your home ready for market and project your closing costs and net proceeds.
It's a parched, scorching desert out there for many U.S. home buyers. For the past 28 months, the housing market has been defined not just by demand-which remains sky-high in many parts of the nation-but also by the shrinking number of available homes for sale. So what are the signposts of a tighter-than-tight marketplace? Buyers are jumping on realtor.com® listings within seconds of their initial postings. Wanna-be homeowners are burrowing themselves into ever-scarcer, ever-busier open houses and going a little mad trying to get in the first bid.
March is notoriously unpredictable. Shrubs can be crusty with snow on the first of the month, and then, a couple of weeks later, temperatures can warm up enough for flower and leaf buds to show signs of life.
Still, some early spring cleanup tasks are sure things this time of year. So go ahead and remove burlap from trees and shrubs as the weather warms. Prune away winter-killed branches to make room for new growth. Cut back spent perennials and pull up old annuals if you didn't get around to it last fall. Then look around. "March is a good time to take stock of your yard and see if it's time to thin out crowded beds and do some transplanting to fill in bare spots," says This Old House landscape contractor Roger Cook.
The annual Fred & Dorothy Fichter Butterflies Are Blooming exhibition at Meijer Gardens is the largest temporary tropical butterfly exhibition in the nation. Tropical butterflies from around the world fly freely in the Tropical Conservatory every March and April.
Throughout the exhibition, there is special educational programming and the Lena Meijer Children's Garden offers butterfly-themed activities.
Unique home 1/4-mile off Cannonsburg Rd. in a beautiful, private setting with Rockford Schools. Contemporary styling provides a special flair to this home on all levels with a mixture of tile, slate, hardwood floors, steel railings and cherry-laced steps. Main floor features an open layout with a wall of south and west facing windows for year-round warmth and stunning views. Kitchen offers a granite island, stainless appliances and a cozy corner dining area. Vaulted ceiling in living room with soaring fireplace and 3 sets of sliders to wraparound deck. Main floor master suite with private access to deck plus full bath with laundry just off entrance. Stairs lead to loft/office where you'll feel you're on top of the world. Walkout lower level provides a 2nd and 3rd bedroom, 3rd full bath and
large rec room with wet bar. Extra-deep garage holds more than 4 vehicles with a covered walkway to rear entrance. New roof, windows and sliders.
We are a proud member of HelloWestMichigan, offering residential relocation services. This organization
serves as an advocate for talent and provides downstream support to
transferees, as well as their families, as they settle into their new lives in West Michigan.
Be sure to check out our HWM profile and let anyone who is looking to move to the area know about all the resources available on this website.
Thanks for letting us share these market updates with you. We look forward to maintaining your trust and confidence in our team and earning your future referrals.
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If your property is currently listed with another company, please do not consider this a solicitation.
