#1 in Series – 5 Reasons to Use a Realtor to Buy in todays market!
Using a Realtor to help you Buy a Home – Pat Vredevoogd – Grand Rapids, Michigan – Summary of the series of 5 reasons to use a Realtor when in the buying process.
Spring Market Fever
Here is Grand Rapids, Michigan our marketplace is kicking into high gear with major Spring Fever. Our snow piles have melted away, our dafodils are peaking their heads out of the ground, and buyers are perking up.
What is causing our Spring Fever is more that the weather warming up – it is built around a new $8,000 tax credit for anyone who has not owned a home in the past 3 years (stop in at my website at http://www.patsplace.com for all the particulars on this tax credit).
In addition to this credit – interest rates are at a historic low – new mortgage products are available for these first time homebuyers – and the selection is fantastic. Wow – if you are in this position – don’t wait – talk to your Realtor and get going. If you know someone who could take advantage of this perfect storm for buyers – pass this information on!
This Spring Fever could have a really positive affect on the rest of the market, too. As the entry level homes are purchased – it frees those folks up to buy their next home, which will have a trickle-up affect in home sales. The Spring signs are there – green grass, tulips and SOLD signs on homes – YIPPEE!
Grand Rapids, Michigan Real Estate Market is March Madness
Well March Madness is going on in the Grand Rapids Real Estate market just like it is happening on the Basketball Courts right now.
It is a mixed story – there are winners and there are losers in this market just as there are on the basketball courts.
The big winners today are the buyers who can take advantage of the $8,000 tax credit (first time buyers or someone who has not owned a home in the past 3 years), low prices, huge selection and low interest rates.
Other winners are move-up buyers who – even if they have to take a hit on their homes that they sell – will make it up on the home they buy and will still be in the dirvers seat.
Winners are also those sellers who have owned their homes for a while or have not run up their mortgages to close to purchase price and are selling in today’s market – there are still buyers out there looking for their dream house.
Unlike March Madness in Basketball – there is not one winner that will be crowned National Champion – in the real estate game there are loads of winners that can capitalize on this March Madness Marketplace.
Egypt and Bahrain – a US Realtor’s Perspective
We just arrived from Egypt (where we did the usual tourist stuff – camels, museums, pyramids) take a look at our blog http://patandguystravels.blogspot.com for the details.
We really went there as a stop-over on our way to Bahrain to visit our new granddaughter – Elisabeth Riley Combs (Oh – also Guy’s son Chris and daughter-in-law Becky).
Anyway – our Realtor perspective kicked in as we saw the vast amount of land that was totally desert – sand – sand – everywhere. Speaking with our guide – Marco (not really his name, some Italian tourists dubbed him Marco – he liked it and it stuck) we came to get a better feeling for the local Egyptians. One thing we noticed was that there was not quite as much street begging as there was in India. We also found that the Eyptians were very friendly, but everyone had their hand out for a tip. Even the street sweeper was paid a small amount by the government but got tips from folks walking by.
We really came to appreciate the USA and all it has to offer it’s citizens. Egypt was a special treat – looking at the cradle of civilization, the church where the Holy Family stayed while in exile in Egypt, all that wonderful history – was very special – yet there is still “No Place Like Home.”
Real Estate Activity Ramping Up in Grand Rapids, Michigan
The past few weeks have been very interesting in the real estate markets here in the Grand Rapids Metropolitan Area.
A lot of negative publicity has been the talk of the town, yet many are watching patiently for Washington to take the lead and put together a stimulus package which should have some positive news for actual buyers and sellers.
At our Open Houses this weekend we were VERY busy. One of our Open Houses was in the Caledonia area and we had 8 groups of prospects through – one calling back and having serious interest. It has been a LONG time since we have had this much activity and interest! WHOOPEE!
In setting up showings this past weekend there were actually 20% of the homes I wanted to show that were sold. We are excited and are very positive with what we are seeing out in the “real world.”
Now we just need to turn all this interest into some concrete sales. The homeownership ladder is ready to climb. Our first time homebuyers create the first rung on this ladder – they are out looking and are buying now – which kickstarts the rest of the real estate market as move up buyers can buy their next home.
Stay positive and encourage your congressmen and senators to work together to put a great stimulus package together with real estate at its center.
Home Buying in the Snow – Grand Rapids, MI style
I often hear from my fellow REALTORS across the warm part of the country – they wonder how on earth we can actually show homes, hold open houses – and help buyers and sellers – when it is snowing in Michigan!
Here are the secrets: Everyone dresses warm (not too many home visits in shorts and flip flops) with boots, hats and gloves. We all drive front wheel or 4 wheel drive vehicles – many homes are vacant and have not been plowed out – so we have to have cars that can make it up steep driveways and over plowed in sidewalks.
We really appreciate sellers who have photos in their homes or on their websites of the home in summer, fall and spring – so we can actually tell if there is a lawn under the snow. We plan for a little extra time between showings to account for slippery roads and snow related dressing.
The good news is that everything looks beautiful after a fresh snowfall. We can put up with the boots, hats, shovels and plows to live in a lovely City and State (Grand Rapids, MI) that has so much to offer. While we have our boots and hats on we could go snowshoeing, skiing, snowmobiling and any other variety of sports that us “Northerners” have cooked up – before we head inside for some hot chocolate or mulled wine and a pot of chili.
Photo Dilemma – Grand Rapids Real Estate Market
We are having quite a controversy in our selling team about photos on the internet – and we would like to hear from anyone who might have an opinion. The “old school” of thought in posting photos of homes of a listing (both in print or on the internet) was that it should be a seasonal photo – in other words – if it is mid-January the home listing should have a snow photo attached to it (provided you are in Michigan) and likewise if it is mid-summer the photo should reflect the beautiful trees and grass.
The dilemma comes when you are marketing a home and you want to put the best photo forward to the marketplace and if that photo happens to be a fall photo and it is in January – do you go ahead and use the fall photo? Old school says that the photo should reflect the season it currently is – so that the listing does not look like it has been on the market so long. New school says just show the best no matter what season.
Question for everyone reading this Blog - which do you think represents the property better? If you saw a home with an off-season photo would you think negatively about it? Do you not pay any attention to what season the photo shows? Thanks for this non-scientific poll. Pat
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Pat Vredevoogd Combs
Pat Vredevoogd, Coldwell Banker AJS Schmidt, Grand Rapids, Mi.
616 559-7241
A New Year and a New Attitude
Along with some new snowfall peeks the sun! Along with all the negative news that is overwhelming us lately comes some rays of positive news and hope! Grand Rapids is a Great place to live in and invest in. It is the beacon of positiveness in a state where negative news has become the norm. It is January – the birth of a new year – the opportunities stretch out before us and it lends excitement to anyone who can open their eyes to see it. A new Administration is getting ready to launch in this great country of ours. Change is in the air and it feels like a fresh breeze is going to blow through – perhaps ridding us of some negativity and as well giving us a boost to see the new ideas taking shape for the future. Interest Rates are at a historic low, inventory is at a historic high, lenders are lending – what a great time to buy the house of your dreams!
What a time for opportunites here in Grand Rapids
Over the past 30 plus years I have been a student of the real estate markets both here in Grand Rapids and across the nation. The old adage that “Timing is Everything” couldn’t be truer than in the real estate market here (and I understand all over the USA today).
What a buyer and seller both need to understand in a rapidly changing real estate market like ours – is that there are opportunites right along side the challenges. When a seller puts their home on the market they need to know what the value is TODAY – not last month and not last year and especially not when their neighbor sold in 1998 – that was then and this is now. Consult with your Realtor – they are professionals in the marketplace – and come up with the best scenario for selling in this marketplace. This scenario includes many things in addition to price.
Sellers should take into consideration where they are going – will they reap the benefits of a buyers market in addition to having to price correctly for the marketplace? If so – should they discount enough to get a buyer rapidly so they can take advantage of a home that is discounted for purchase.
Buyers need to sieze the opportunites of a marketplace that has lots of selection and interest rates that are still historically low. There are new government programs in place to make this even more attractive – so talk with your Realtor and get the scoop.
This changing economic climate can be scary – it can also be a place of great chances to move ahead! Despite what you hear and read in the media – there are still mortgages for those who qualify (wondering if you do? – let me know and I’ll get you some information) pat@patsplace.com.
Be Flexible
Be Flexible - This is the mantra of the turbulent times.
Rolling with the flow and being flexible will get a person much further in this marketplace than taking a firm stand. These are new times and standing firm in the “old” ways and “old” price structures and even “old” financing will not get the desired results anymore. (Results being either getting the home you want or selling your current property).
Remember if you are selling and buying something else – on one of those transactions it will be “your” market. Sellers who are selling in a “buyer’s market” will have the opportunity to make up a possible loss on the Buy end. The same with a Buyer – so understand this flexible market and open your minds to this new marketplace.
It is time to be flexible in this marketplace. Listen to your Realtor – they are the experts and can guide you through both sides of this process.
