You are currently browsing the monthly archive for December 2008.
Adacroft Commons is a popular home market in Ada for the
Grand Rapids area.
Part of the appeal is the proximity of Forest Hills Central 5/6 School,
Middle School, High School, St Roberts School & Ada Christian
School, which are within walking distance. Adacroft Commons is also
close to the village of Ada and Forest Hills shopping. It is an established
subdivision, being started in the early 1970’sby E. L. Ladd Builders of
Ada, at the same time they were buildingin Adatowne. Adacroft
Commons homes were required to have atwo stall attached garage and
a family room, while Adatowne homes did not. There is designated
common land in thedevelopment that remains heavily wooded and in a
natural state,as in its adjacent neighborhood, Ada Woods. I have held
many open houses in these plats when they were new and sold many of
the homes as new construction – to be built. We personally purchased a
spec home here in 1976 and livedin Adacroft for 5 years before we built
our dream home on 6 acres(also in Ada Township).
If you doubt the power of your home as an investment, a 4 bedroom 2
story home (about 1750 sq ft) sold for $ 39,900 in Adacroft Commons
in 1970.
Adacroft Commons Real Estate
December 2008 Market Report
about Grand Rapids or Ada Homes, please contact me.
Grand Rapids Ada MI Real Estate – Five Star Real Estate
Copyright 2008 All rights reserved
Adacroft Entrance on Ada Drive Photo by Bonnie Westbrook
Centennial Park Meadows Condominiums are located just off 28th Street
and Thornapple River Dr. in Cascade, Michigan. The Condos wrap around
the Centennial Golf Course and community.
This private par 70 golf course has plenty of challenges for golfers at
every level. This community also has a clubhouse and restaurant for
members.
We have relocated several clients into this community and they find it a
wonderful place to live. Just minutes from 28th Street & Cascade shopping,
dining and amusements, you are centrally located but tucked away from
the bustle of the area for quiet, serene living and easy access to golf.
Centennial Park Meadows Condos
Real Estate Market Report
December 2008
16 For Sale, 0 Pending, 5 SOLD, 9 Expired
Centennial Condos Active Listings: 16
Centennial Condos Active Average Price – $248.569
Centennial Condos Active average $/SqFt – $ 132.68
Centennial Condos Active average days on market – 129
Centennial Condos Sold Listings: 5
Centennial Condos Sold average price – $ 102,810
Centennial Condos Sold average $/SqFt – $ 72.45
Centennial Condos Sold average days on market – 48
Centennial Condos Expired Listings: 9
Centennial Condos Expired average price – $ 249,844
Centennial Condos Expired average $/SqFt – $ 152.26
Centennial Condos Expired average days on market – 144
The Absorption Rate for Centennial Park Condos is 38.4 months,
which means if no new listings come on the market, it will take
38.4 months for the existing condos to sell at the current rate
of sales. This is a high number for Grand Rapids, which reflects the
weak market for condos, over priced listings, or a combination
of both, which I believe is the case.
Centennial Park Condos Market Report Oct 2008
Centennial Park Condos Market Report Sept 2008
Centennial Park Condos Market Report August 2008
Centennial Park Condos Market Report July 2008
Centennial Park Condos Market Report June 2008
If you would like information about Grand Rapids – Cascade MI Condos
or Grand Rapids – Cascade MI Homes, please contact me directly.
If you would like this report emailed to your inbox every month, please
contact us.
Grand Rapids – Ada Real Estate – Five Star Real Estate
Copyright 2008 All rights reserved
photo of Golf Equipment by Bonnie Westbrook
The Quail Crest Condo development is located west of Spaulding
and north of Burton Street in Cascade Township. There is an
entrance off Spaulding Avenue and off Burton Street. This condo
development was started in the late 1980’s and continued building
into the late 1990’s.
The condos are spacious with cathedral ceilings and many have
finished lower levels with extra bedrooms and baths. This area
has been very attractive for retirees, as they are close to all the
local amenities and shopping but no house maintenance. Forest
Hills Public Schools are the school district, Watermark Country Club,
Forest Hills & 28th Street shopping are a short distance away.
The miles of Cascade-Ada Bike/Walking Trail
connects to downtown Cascade, downtown Ada, and 28th St.
Quail Crest Condominiums Real Estate Market Report
December 2008
3 Sold, 10 For Sale, 5 Expired
Quail Crest Condos Active Listings: 10
Quail Crest Condos Average Active Price – $154,125
Quail Crest Condos Average Active Price/SqFt – $ 109.11
Quail Crest Condos Average Active days on market – 137
Quail Crest Condos Sold Listings: 3
Quail Crest Condos average sold price – $274,167
Quail Crest Condos average sold price/SqFt – $ 167.48
Quail Crest Condos average days on market – 89
Quail Crest Condos Expired Listings: 5
Quail Crest Condos average expired price – $202,160
Quail Crest Condos average price/SqFt – $ 147.35
Quail Crest Condos average days on market – 146
The absorption rate for Quail Crest Condos is 40 months, which
means if no new listings come on the market, it will take 40 months
for the current inventory of homes to sell at the current rate of sales.
This is very high for the Grand Rapids Market, which means either prices
are too high for today’s buyer, or there is a glut of condos on the market.
Quail Crest Condos Oct Market Report
Quail Crest Condos Sept Market Report
Quail Crest Condos July Market Report
Quail Crest Condos June Market Report
If you have further questions about Grand Rapids or
Cascade MI Condos, please contact me directly. We can
also have these monthly market reports emailed to your
inbox, just contact us.
Grand Rapids Ada MI Real Estate – Five Star Real Estate
Copyright 2008 All rights reserved
photo of Quail Crest Entrance by Bonnie Westbrook
Forest Hills Gardens Residential Real Estate
Dec 2008 Market Report
4 Sold, 0 Pending, 1 For Sale
The absorption rate for Forest Hills Gardens is 3 months, which
means if no new listings come on the market it will take 3 months
for the existing inventory of homes to sell at the current rate of sale.
This is a fabulous rate in this market and the one home for sale
reflects the stability and desirability of the neighborhood.
Active Listings: 1
Average price is $ 164,900.
Average time on market is 76 days.
Average cost/SqFt is $90.50
The average price for Forest Hills Gardens sold homes is $162,475.
The average price/sqft for Forest Hills Gardens sold
homes is $ 96.47.
The average days on the market for Forest Hills Gardens sold
homes is 20 days.
The Ada area growth trends remain strong. Ada Township planner,
Jim Ferro states that the Ada population has grown by 20% since 2000.
There is a new proposed 80 condo units – Villas of Ada going in next
door and Stone Falls of Ada – a 210 unit apartment complex, currently
under construction a short distance away on Spaulding Ave.
Both of these new developments are quite close to Adacroft Commons
and Forest Hills Gardens.
If you have questions about Forest Hills or Ada homes,or
if you would like this market report emailed to your inbox,
please contact me directly.
Grand Rapids Ada Real Estate ~ Five Star Real Estate LLC
Copyright 2008 All rights reserved
Japanese Maple photo by Bonnie Westbrook
Ada Moorings is located off Grand River Drive, just east of Ada
and close to Ada Township Park. A recent development by
Eastbrook Builders, these quality built homes are in Forest
Hills Public School District. Close to the village of Ada and not
far from the village of Cascade,this subdivision is near 28th
Street shopping, the Thornapple and the Grand Rivers.
Ada Moorings Market Report October 2008
7 For Sale, 9 Sold, 1 Expired
Ada Moorings Active Listings: 7
Ada Moorings average active price – $248,486
Ada Moorings average active price /SqFt – $ 126.50
Ada Moorings average days on market – 115
Ada Moorings SOLD Listings: 9
Ada Moorings average sold price – $ 243,322
Ada Moorings average sold price/SqFt – $ 125.69
Ada Moorings average sold days on market – 88
The Absorption Rate for Ada Moorings Homes is 9.3
months, which means if no new listings come on the
market it will take 9.3 months for the existing homes
to sell at the current rate of sales.
The average list price has dropped $20,000 in the last
quarter of the year, which means sellers are much closer
to the actual market price than they were before.
The average sale price has dropped about $4000.
Ada Moorings Market Report Oct 2008
Ada Moorings Market Report Sept 2008
Ada Moorings Market Report Aug 2008
Ada Moorings Market Report July 2008
Ada Moorings Market Report June 2008
If you would like further information about the value of your Ada or
Grand Rapids Home, please contact me directly.
Grand Rapids MI Real Estate – Five Star Real Estate
Copyright 2008 All rights reserved
photo of the Grand River in Ada by Bonnie Westbrook
Cascade Woods is an established neighborhood of large, executive
style homes in Cascade Township, MI. Most of these homes were
built in the 1960’s and 1970’s, although there are a few newer
homes that were built recently in the area. Close to the village of
Cascade and the Thornapple River, this heavily wooded area has
been a Grand Rapids desired suburban place to live for decades.
Part of the Forest Hills School District, which draws many families,
there is also the river and it’s picturesque appeal. The drive down
Thornapple River Drive between Ada and Cascade in the fall is one
of the prettiest drives in the greater Grand Rapids area.
Cascade Woods Absorption Market Report
December 2008
9 Homes For Sale, 1 Pending, 11 SOLD, 24 Expired
Cascade Woods Active Listings: 9
Cascade Woods Active average price – $327,056
Cascade Woods Active average $/SqFt – $110.20
Cascade Woods Active average days on market – 92
Cascade Woods Sold Listings: 11
Cascade Woods average sold price – $249,073
Cascade Woods average sold $/SqFt – $ 110.37
Cascade Woods average sold days on market – 106 days
Cascade Woods Expired Listings: 24
Cascade Woods Expired average price – $290,591
Cascade Woods Expired average $/Sq/Ft – $ 122.50
Cascade Woods Expired average days on market – 178
The absorption Rate for Cascade Woods Homes is 10.8 months,
Which means if no new listings come on the market, it will take
10.8 months to sell the existing inventory. The average sold price
per SqFt and the Active listings Price /SqFt seem to be aligned. It could
be home condition which is slowing the sales in this area of older homes.
Today’s buyers do not want to do ANY updates, which includes painting,
new kitchens & baths, new flooring. If your Cascade Woods home hasn’t
sold, it is probably condition, which gets us back to price. If you don’t
want to improve your home, you won’t get the same price as people who
have updated and kept their home current.
Cascade Woods October 2008 Market Report
Cascade Woods September 2008 Market Report
Cascade Woods August 2008 Market Report
Cascade Woods July 2008 Market Report
Cascade Woods June 2008 Market Report
If you would like further information about Grand Rapids or
Cascade Homes, please contact me directly.
Grand Rapids -Ada Real Estate – Five Star Real Estate
Copyright 2008 All rights reserved
photo of Leslie E Tassell Park on the Thornapple River by Bonnie Westbrook
Ada Woods is an established development of homes in Ada, Michigan,
just west of Ada and south of Fulton Street (M46). Ada Woods started
out as an E.L. Ladd development, but towards the end of the project
many lots were sold to other builders and completed by individual owners.
The dates of building range from 1980’s to 2005. Most of the homes
have more square footage and more amenities than Adacroft Commons,
its adjacent neighborhood. As with Adacroft Commons, there is designated
common land in the development that remains heavily wooded and in a
natural state. This development is in the Forest Hills School System and
close to several private schools.
Ada Woods Real Estate Absorption Report
December 2008
6 Sold, 4 For Sale, 8 Expired
Ada Woods Active Listings: 4
Ada Woods Average Active Price – $ 332,425
Ada Woods Average Active Price/SqFt – $132.53
Ada Woods Average Days on Market – 149
Ada Woods SOLD Listings: 6
Ada Woods Average Sold Price -$ 313,567
Ada Woods Average Sold Price/SqFt – $121.37
Ada Woods Average Sold Days on Market – 119
Ada Woods Expired Listings: 8
Ada Woods Average Expired Price – $ 300,900
Ada Woods Average Expired Price/SqFt – $ 132.48
Ada Woods Average Expired Days on Market – 158
MARKET SYNOPSIS: As you can see by the numbers, average sold
price has lowered about $ 27,000. The average asking price has lowered
a tiny bit, but not enough to get buyers off the fence. The expired number
is up which tells me that some sellers have given up trying to get their
asking price.
If you don’t have your Ada Woods home priced about $ 120.00 a sq ft,
you will be waiting for a stronger sellers market to sell your home.
Ada Woods Market Report June 2008
Ada Woods Market Report July 2008
Ada Woods Market Report August 2008
Ada Woods Market Report Sept 2008
Ada Woods Market Report Oct 2008
Ada Woods Market Report Nov 2008
If you have any questions about Grand Rapids or Ada Homes,
please contact me directly.
Grand Rapids Ada MI Real Estate – Five Star Real Estate
Copyright 2008 All Rights Reserved
Headley St in Ada Mi photo by Bonnie Westbrook
The East Village subdivision off Ada Drive in Ada Township is a fairly
new development. The new housing construction started in 2005 and
is still continuing to date. You can buy a resale home or a new home
in this centrally located housing development. Near both public and
private schools, East Village is also close to Forest Hills and 28th
Street shopping areas. The Ada Bike or Walking Trail also connects
this area on Ada Drive with the village of Ada, Grand Rapids, and the
village of Cascade.
East Village is also close by the expressway for easy access to many
different parts of our greater Grand Rapids area. Large,
executive style homes with many amenities and extras are the rule in
this neighborhood. If you would like to start with a brand new house,
this may be the place for you to call home.
Real Estate Market Report East Village January 2009
For Sale: 7
East Village Homes average list price: $ 456,943
East Village average price/sqft (main floor): $ 166.49
East Village average days on the market: 29 days
Sold: 10
East Village SOLD homes average price: $ 464,900.
East Village SOLD homes average price/sqft: $161.71.
East Village SOLD homes average days on market: 86 days
Expired: 9
East Village expired homes average price: $441,933
East Village expired homes average price/sqft: $167.66
East Village Homes are selling, if priced correctly. Buyers are
paying about $160/SqFt on the main floors.
The absorption rate for East Village is 8.4 months, which means
if no new homes enter the marketplace, it will take 8.4 months
for the current home inventory to sell. If you don’t need to sell
your East Village home now, I would recommend you take it
off the market. Overpriced homes are not selling.
East Village Market Report December 2008
Forest Hills Market Report November 2008
If you would like further information about East Village, Ada, or
Grand Rapids Homes, please contact me directly.
Grand Rapids Ada Real Estate – Five Star Real Estate
Copyright 2008 All rights reserved
photo of Ada Bike Trail by Bonnie Westbrook
The Residences at Watermark are located on Watermark Golf
Course just south of Cascade Road. If you don’t like golf,
get defensive when a stray golf ball rolls into your “yard” you
probably would be better off not buying a home or condo
at Watermark. Of course you would be missing out on the
best golf course in Grand Rapids (no prejudice here, just
the facts, folks)
Yes, I play Watermark golf course every chance I get. Watermark
is a premier course with a friendly group of players. We have an
excellent grounds staff and a great pro shop staff.
Watermark single family homes and condos make this a very attractive
place to live. Quality built homes with access off Cascade Road and
Spaulding Drive, you are close to the airport, 28th Street shopping,
I96 expressway and close to Cascade, Ada, and Forest Hills
schools and shopping areas.
Watermark Residences
December 2008 Real Estate Market Report
For Sale:
There are 8 active Watermark Homes currently on the market.
The average Watermark Homes current active price is $ 777,888.
The average Watermark Homes current price per sq ft is $ 230.96.
The average days on the market for active Watermark Homes is 84.
The high price is $ 2,700,000 and the low price is $ 179,800.
Sold:
There have been 6 Watermark Sold Homes this year.
The average Watermark Sold Homes price is $ 500,333.
The average Watermark Sold Homes price per sq ft is $191.68.
The average days on the market for Watermark Sold Homes is 71.
Pending: 1
At the current rate of sales, we have a 13.6 month supply of homes on
the market at the Watermark Residences.
If you would like further information about Watermark,
Cascade or Forest Hills Homes, please contact me directly.
Watermark Residences November 2007 Market Report
Watermark Residences October 2008 Market Report
Watermark Residences September 2008 Market Report
Watermark Residences August 2008 Market Report
Watermark Residences July 2008 Market Report
Watermark Residences June 2008 Market Report
Watermark Country Club ~ Pool Time
Grand Rapids – Ada Real Estate – Five Star Real Estate
Copyright 2008 All rights reserved
photo of Watermark Residences Entrance by Bonnie Westbrook
Tamarron Estates is an upscale suburban development with large
wooded lots, walking access to Thornapple Elementary School and
the Thornapple River Backwaters. It is located just off of
Thornapple River Drive and Cascade Road in Cascade Township.
The house styles vary from large, comfortable ranches, traditional
two stories, to contemporary homes. Many of the homes were built
in the late 1970’s to the mid 1980’s, though there is a new street
that has much newer homes on acreage settings. Some houses close
to and surrounding this development are in the upper price brackets
in the Grand Rapids real estate market.
Tamarron Residential Real Estate
December 2008 Market Report
5 Sold, 7 For Sale, 7 Expired
Tamarron Active Listings: 7
Tamarron Average Active Price – $ 500,329
Tamarron Average Active Price/SqFt – $ 137.25
Tamarron Average Active Days on Market – 138
Tamarron SOLD Listings: 5
Tamarron Average Sold Price – $ 339,480
Tamarron Average Active Price/SqFt – $ 98.11
Tamarron Average Sold Days on Market – 63
Tamarron Expired Listings: 7
Tamarron Average Expired Price – $ 265,629
Tamarron Average Expired Price/SqFt – $ 112.74
Tamarron Average Expired Days on Market – 124
234 homes have sold in Cascade Township in 2008
Average home selling price is $306,712
At the current selling rate, we have an Absorption rate of 16.8 months,
which means if no new listings come on the market, it will take 16.8 months
to clear the current supply of homes.
MARKET SYNOPSIS: Tamarron homes are selling but not at the prices that
some sellers would like to see. Today’s market is accepting homes under
$100.00 a sq ft. This is a price reduction for this area. As you can see,
most sellers think their homes will sell at $ 137 a sq ft. This isn’t happening.
Even the expired listings aren’t selling at $ 112.00 a sq ft. If you have to
sell your Tamarron Estates home now, be sure you are price competitively with
other properties on the market. Condition plays a large factor in these older
homes. If you haven’t updated, you aren’t going to get top dollar for your
home, the market place is telling you that you need to be at $ 100 a sq ft or
less to see your home sell.
Cascade Township has seen tremendous growth in the last fifty
years, though the growth rate has slowed considerably since 2000.
The majority (82%) live in a single family home, and the median
value is $220,00. Household incomes in Cascade Township are the
highest among surrounding Grand Rapids areas at $ 87,290. Most
people in Cascade Township prefer to live here because of the quality
housing, safe areas, and quality schools.
Tamarron Estates Market Report June 2008
Tamarron Estates Market Report July 2008
Tamarron Estates Market Report August 2008
Forest Hills Market Report Sept 2008
Tamarron Estates Market Report Oct 2008
Tamarron Estates Market Report Nov 2008
If you have questions about the value of your Cascade or Forest Hills
Home, please contact me directly.
Grand Rapids -Ada Real Estate Copyright 2008 All rights reserved
Photo of Tamarron North Entrance by Bonnie Westbrook