Realty Executives Comes To West Michigan

30 09 2009

The Platinum Realty Group is now affiliated with Realty Executives.

Grand Rapids Real Estate

I am excited to announce that the Platnum Realty Group is now affiliated with Realty Executives. This is a great opportunity for everyone involved including our Realtors, their families, clients and business partners. The Platinum Realty Group has always been a family oriented broker that has always put customer service above all else. Affiliating with one of the fastest growing national real estate companies, with offices in 18 countries, opens up many doors and will only benefit our clients.

Realty Executives Platinum Group will now be able  to provide cutting edge marketing tools with which their agents can use to market their client’s homes. This increased national and international exposure can only help us sell these properties and open up doors to buyers relocating to the Grand Rapids area. For more information on the local Grand Rapids market or to request a Relocation Package, visit my website at GRRealEstateInfo.com or contact me any time.





430 Gladstone Ave SE – Grand Rapids Real Estate

25 09 2009

430 Gladstone Ave SE – Great New Listing in East Grand Rapids

Grand Rapids Real Estate Don’t miss this lovely 2 story in East Grand Rapids schools. Gorgeous hardwood floors throughout with large bedrooms, central air and central vacuum. A spacious kitchen comes with stainless steel appliances and a built-in desk. A very large and recently repainted living room features a gas fireplace and a cute sitting area over-looking the quiet wooded street. This home would make an awesome starter or investment property. Great location close to shopping, schools and the Gaslight Village. This home is a Short Sale, which means that any offers are subject to the bank’s approval. This is a tremendous opportunity to own a nice home close to schools and Reeds Lake.

East Grand Rapids Real Estate

Purchasing a Grand Rapids short sale is just like making a regular home purchase, except you are dealing with a bank. What really is required is plenty of patience. Some banks are swamped. For example, Bank of America has over 7,000,000 cases (distressed properties) to deal with, so it can be a struggle to get these closed. If you are hoping to get a deal before the $8000 tax credit deadline of December 1st, then a short sale is not for you. If you have any questions about this home or to view more interior pictures, visit my website at GRRealEstateInfo.com or contact me anytime.

Click Here to view the online flyer!





17700 Algoma Ave NE – Cedar Springs Home For Sale

12 09 2009

 

17700 Algoma Ave NE – Cedar Springs Short Sale $80,000

Cedar Springs Real Estate This Cedar Springs short sale is an Affordable getaway with excellent hunting opportunity for turkey and deer. Also includes an elevated hunting blind. This cute 3 bed, 2 bath ranch is priced to sell. This great buy features a bright and open great room with a huge kitchen with snack bar and spacious dining area. Take advantage of a great opportunity to own some beautiful, wooded land just minutes from Sand Lake. Don’t forget to take advantage of the first time home buyer tax credit.

Agent Note: Subject to Bank’s approval of short sale and we have already submitted the complete short sale package to the bank.

Cedar Springs real estate Grand Rapids Short Sales Grand Rapids Homes For Sale

For more information and pictures of this fine home or to set up a showing, visit my website at GRRealEstateInfo.com or contact me any time.





Grand Rapids Real Estate – June Market Update

20 07 2009

 

Grand Rapids Home Sales up 26.2% From a Year Ago

Grand Rapids Real Estate Market The Grand Rapids housing market continues to show signs of life as home sales were up 26.2% compared to June 2008. For the third consecutive month, single family homes have seen an increase in the average sales price (up to $119,923) from $97,073 in April 2009. This number does show improvement and is encouraging, but it is still down 12.5% from last June. These figures were prepared by the Grand Rapids Association of Realtors. This portrays a 19.9% increase in the home sale price from the beginning of 2009, where home prices were $95,010 for the month of January. The number of active listings in the Grand Rapids real estate market continues to remain steady at slightly over 9000. Sales year-to-date for single family homes was up 10.9% compared to one year ago.

These are good signs for our market. Especially when you take into consideration the amount of distressed homes such as short sales and foreclosures which are hurting and dragging down the overall Grand Rapids housing market.

Other positive indicators which show a good market trends are the average days on market, which is going down while the average selling price, median sales price and the percentage of the listing price compared to sales price, all continue to show improvement.

For more information about the Grand Rapids Real Estate market or to search for homes online, visit my website or contact me any time.





Purchasing a Short Sale in Grand Rapids

7 06 2009

 

Purchasing a Grand Rapids Short Sale

Grand Rapids Short Sale When you come across a property that is a short sale in your search for Grand Rapids real estate, patience is the key. The average closing time for a short sale in today’s market is three to four months and can sometimes be longer if you are at the beginning stages. You should know going in that it is going to be a long and sometimes frustrating process but the end result could very well be worth it to your pocket book.

A seller is trying to sell their Grand Rapids home as a short sale in order to avoid a foreclosure. The reasons they are in this predicament are varied and could be anything, loss of a job, moving out of state etc. Whatever the reason, a seller is required to provide several documents to the bank for the bank to consider discounting the loan and accepting a short sale. Among the docs required are a proof of hardship, tax returns, pay stubs and a detailed payment and expense statement.

Once the bank has this information from the seller, then they need an offer to purchase the home before they start the process. A good broker will have investors willing to purchase the property and they will write an offer on it, to get the ball rolling. Whenever you are looking at a short sale to buy, ask the agent or the owner if an offer has already been submitted and find out if all of the documents have been collected and sent to the bank. If these things have already been done, then you are in good shape but it is still going to be a long wait.

Once your offer is submitted to the bank, a negotiator will be assigned and appraisals will be ordered. It could take up to thirty days just to get a negotiator assigned to your offer. This is due simply to the huge backlog of delinquent loans being handles by the bank. At this point, the listing agent should not be accepting any offers, although they frequently do. Every time a new offer is submitted to the bank, the whole process is started all over again, so really the agent should just work with the one offer. Provided it is a reasonable offer.

At some point after the appraisals, the bank will either counter the offer or agree to accept it. Once the bank accepts it, the package is sent to Fannie Mae for approval and they have to assign their negotiator.

If you have any questions about purchasing a Grand Rapids short sale or if you have a home and want to find out more about what we do to sell them, visit my website or contact me any time.





Grand Rapids Real Estate Prices Have Hit Bottom

21 05 2009

 

Grand Rapids Real Estate Market Projections and Speculations

Grand Rapids Real Estate A recent Homegain survey of Realtors from around the country speculates that house prices have hit the bottom, or will in the next 6 months. But this is Michigan so I will wait on my own observations before I jump the gun. The Grand Rapids real estate market is showing more activity but it is still too soon to tell if home prices have stopped dropping. I think it’s clear though that prices will not be rebounding at the same pace that they dropped. Once the Grand Rapids market stabilizes I expect to see a slow and gradual increase in house values … and that is fine with me.

About half of all real estate agents surveyed expect home prices to stay the Grand Rapids Real Estate Marketsame in the next six months, 29 percent expect them to drop, and 22 percent believe they will increase. *84% of agents surveyed believe their clients’ homes lost value last year, while 12 percent say values had stayed the same. Only 3 percent believe homes had gained value. Interestingly, 69% of sellers disagreed and thought their home was worth more than the agent suggested. 35% thought their home was worth 10 – 20 % more than suggested. In the end, market value is established by what the buyer is willing to pay for a home.

In the current Grand Rapids Real Estate housing market, I have been busier than I have ever been with many inquiries from all over. The beauty of having one of the top websites in town is that I have a great opportunity to see what buyers are looking for as many local and out of state buyers come through my website first. It puts me in the unique position of offering something extra to my clients who are looking to sell their home.

Grand Rapids Real Estate For Sale On of my recent listings sold in 7 days. That was a combination of aggressive pricing and good marketing. As always in this type of market, where there are many similar listings, buyers will be price shopping. So your listings needs to be priced aggressively, marketed well with good internet exposure, professional quality photos and it must be in showroom condition. Showroom condition does not mean all new appliances and furniture. What it means is clean, uncluttered and a fresh coat of paint won’t hurt either.

For more information about the Grand Rapids real estate market and to search for homes online, visit my website or contact me any time. If you have a home or condo to sell, click here for more information.





8888 Brower Lake Rd NE – Rockford Real Estate For Sale

25 04 2009

 

Rockford Home For Sale – Secluded Setting Near Brower Nature Preserve

JUST REDUCED TO $269,900

OPEN SUNDAY JULY 12th FROM 1:00PM – 4:00PM.

 Rockford Real Estate If you are looking for privacy, acreage and a peaceful setting in Rockford Schools, look no further. This beautifully maintained and updated 5 bedroom ranch sits on over six acres of rolling, wooded terrain surrounded by sixty-three acres of the Brower Nature Preserve. Located at 8888 Brower Lake Rd NE and nestled in between Big Brower Lake and Little Brower Lake in award-winning Rockford schools, this charming 3100 square foot home offers top to bottom remodeling including new kitchen cabinets, updated hardware and fixtures and abundant new hardwood floors with European Beach, Maple and Cherry.

The spacious walkout basement has a recreation room, a family/game room and a large bedroom and full bathroom. The owners elected to convert a portion of the basement into a gorgeous master suite with a closet and a full bathroom. There are large windows throughout the house letting in plenty of sunlight and affording awesome wooded views. There is plenty of room to entertain family and friends on the deck and three season porch. This is truly a great setting to unwind in after a long day.

Rockford Homes for Sale

One of the big draws of this area is the peaceful setting. This home has a very unique location and is surrounded on three sides by the Brower Nature Preserve. Sixty-three acres of rustic trails winding through oak and pine forests, near wetlands and great views of Big Brower Lake. The Brower Lake Nature Preserve is managed by the Land Conservancy of West Michigan and along it’s trails can be found wildflowers, colorful songbirds, barred owls and even the occasional wandering black bear.

To set up a showing of this wonderful home or to search the MLS for homes, please visit my website at GRRealEstateInfo.com or contact me anytime. This home is listed for $269,000.

Click Here for additional pictures and info!





Grand Rapids Short Sales – Better Than A Foreclosure?

4 04 2009

 

Short Sales and Foreclosures – How do they affect my credit?

Grand Rapids Short Sales Well the quick answer to that is, ‘Badly’. There is no getting around it, a Short Sale and/or a Foreclosure will both negatively affect your credit. Having said that though, there are other factors that should be considered if you are in this unfortunate situation.

There are three situations that greatly effect a FICO score and they all carry the same weight.

  1. Serious Delinquency
  2. Derogatory Public Record
  3. Collections Filed

Foreclosures remain on your credit report for up to 10 years and in the event you are applying for another loan, this must be stated on your loan application. Just because a Short Sale is not specifically stated on a loan application does not mean it is any less damaging than a foreclosure, however Fannie May and Freddie Mac will lend to you in two years versus five for a foreclosure. That is pretty important!

Another factor that is not talked about is the incredible stress of being in such a distressed state. With creditors hounding you, a contrant stream of letters from collectors and the general feeling of hopelessness from just having lost a job, it isn’t much fun and no one likes to face the unknown. This is another reason why a Short Sale is better than a foreclosure. Getting that beast off your back and allowing you to sleep better at night is a very important factor.

Having an experienced agent and broker in your corner during this time is very important. A good Grand Rapids’ agent with a proven short sale system in place can save a lot of time and stress during this process. For information on our short sale program, visit my website or contact me any time.





Grand Rapids Real Estate Market Trends From March

2 04 2009

 

Grand Rapids Home Sales Increase in March

The Grand Rapids real estate market had a good month in March which saw a 19.5% sales volume increase compared to the same period last year. Additional good news shows that the percentage of foreclosure sales has dropped for the third consecutive month. This could be that more people are selling their Grand Rapids home as a Short Sale, instead of letting their home be foreclosed.

Grand Rapids Real Estate

These foreclosure and short sales will continue to depress the market as they typically sell below market value how ever the number of “regular” single family home sales also increased  in March, over the same time last year. 970 single family homes sold last month versus 812 a year ago.

The average Grand Rapids Home Sales price is up 2% from February however it is still down 20% from one year ago. The average sale price of a home today is $97,351. Active listings remain stead at slightly under 9000 listings which is close to February’s numbers.

So while the market remains slow, there is a slight uptick in activity which is a good sign as we are entering our typically busy season. From personal experience, I have been quite busy this first quarter and am excited for what the rest of the year holds.

For more information on the Grand Rapids market, visit my website at GRRealEstateInfo.com or contact me any time.





Grand Rapids Short Sales – Grand Rapids Real Estate

29 03 2009

 

Sell your Home and Bring No Money to Close!

Grand Rapids Short Sales That is one of the main questions that I get, “Will I have to bring any money to close or do I have to pay any closing costs?” The answer to that is no, you will not have to bring any money to close.

There are many short sales in Grand Rapids these days and the good news is that lenders are realizing that they need to work with the homeowner, so they are beginning to negotiate on these  short sales. Basically, a short sale happens when the owner, through some form of hardship, can no longer make the payments but he can’t sell the house because he owes more than the house is actually worth.

At the Platinum Realty Group, we have formed a relationship with a local law firm and have created a “short sale and debt mitigation” department that will negotiate with the banks on your behalf. Our goal is pretty simple, to sell your home and negotiate your short sale for you. To get you out from a very stressful situation and start you on the road to financial health.

As of March, 2009, we have 10 Short Sales pending and scheduled to close in April.

The same rules still apply when selling a home. Just because it is a distressed listing doesn’t mean is has to look distressed.

  • Aggressive Pricing. The house has to be priced competitively. The banks aren’t going to give it away but they know the market is bottoming out. You will be competing with hundreds of other homes so price is the most important factor. But not the only factor!
  • Marketing. In this day of rapid technological advances, buyers are in the drivers seat. They have many tools at their disposal with which to research their next move. You need an agent with a “search engine visible” website and the knowledge to maximize your home’s exposure online. That is where the buyers are!
  • Quality pictures. There just is not any reason that your agent can’t have good quality pictures with which to market your home. Pictures make a huge difference, in fact I know of several buyers that just won’t bother taking a tour of your home if they can’t view pictures before hand. Why would they bother wasting their time when there are so many other options? Your home needs to show well. A coat of paint and some inexpensive fixtures and kitchen hardware goes a long way.

Having said that, my website is one of the top website in town for many Grand Rapids Home Evaluationdifferent keywords. I average 20,000 hits each month from just one of my sites. Those numbers translate into massive exposure for your listing and is something of a hobby for me now. I really enjoy it, plus it works.

For example, using my marketing strategies, I sold one of my most recent listings in just 10 days, for 97.5% of the asking price! The sellers were thrilled and the buyer was thrilled. It was a win/win situation and a very pleasant experience.

For more information on Grand Rapids Short Sales and the marketing I use, please visit my website at GRRealEstateInfo.com. Or better yet, simply google, “grand rapids short sales“.