You are currently browsing the monthly archive for February 2009.

Signs of Spring……

 

Our friends in the south are looking at bulbs coming up, birds nesting, and

other sure signs of spring. Our signs of spring in Grand Rapids Michigan are

a  little bit  different.  We look with eagerness towards any signal that winter

is loosening it’s grip.  If you are a Northerner, these photos will tell you

S-P-R-I-N-G is right around the corner:

 

 

snow piles2-27-09

 

 

snow pilesfeb272009 033

 

The huge snow mountains in the parking lots are melting!!

 

Grand Rapids MI Real Estate ~ Westbrook Realty

Copyright 2009 All rights reserved

Advertisements

Lowell Michigan is located on the Flat River just east of Grand Rapids, MI.

It has really grown in the last 20 years, in many ways. Lowell has a great

school system, a  thriving business community, a lively arts society, and

is one of the best kept secrets in Kent County.

These are the statistics for home sales in the Lowell School District.

Lowell Michigan Absorption Report  Feb 2009

lowell showboat lowell michigan

Active Listings: 142 Active Listings

Average Price: $258,078

Price per Sq Ft: $126.27 (Main Floor only)

Average days on the Market: 88

 

PENDING: 18 homes

 

 

SOLD: 44 Sold Homes

Average Price: $ 132,038

Average Price Per Sq Ft: $ 76.59 (Main floor only)

Average Days on the Market: 47

 

Expired: 29 Expired listings

Average Expired Price: $222,459

Average Price Per Sq Ft: $140.29 (Main floor only)

Average Days on the Market: 94

 

Absorption Rate for Lowell Listings is 16.13 months for the

current housing inventory. If no other homes enter the market, it

will take 16.13 months for the current homes to sell at the current

rate of sales.

Lowell Homes that are priced competitively are selling and selling

fairly quickly compared to the greater Grand Rapids area.

As you can see by the statistics, the homes that have their price

per square foot under $100 are seeing the most activity, although some

sales up to $ 145 a square foot are also moving. There are quite a few

foreclosure or short sale homes which are bringing down the average sales

price and square footage rates lower than they should be.

Some sellers have retired from the market and will try again in

the spring.  They might find a better buying market, but prices are

still on the downward trend.  With lower interest rates, this may

spur the local economy and put more buyers into the game.

 

If you would like additional information about Lowell

Area Homes, please contact me through email or my web site.

 

Grand Rapids MI Real Estate ~ Westbrook Realty

Copyright 2009     All rights reserved

Crystal Springs ~ Kentwood Absorption Report February 2009

Crystal Springs Development in Caledonia, Michigan is a large, residential

suburban housing development that was started in the late 1980’s and

most construction was finished in the 1990’s although some newer homes

have been built since 2000. There are also a few vacant lots left to develop.

This development covers a large area around the Stonewater Golf Course

at Crystal Springs south of 68th Street to 72nd Street and encompassing

Kalamazoo Avenue on the east and west.  This development has single

family homes and condos, many located right on the Stonewater Golf Course

The public school system is Kentwood, even though the address is Caledonia.

Crystal Springs is close to the shopping plaza at 68th and Kalamazoo,

Kentwood High School, and a short hop to M-6, which is the south beltline for

the Greater Grand Rapids area connecting US 131 on the west and I96 on the

east side of the city.

Kentwood High School

                   February 2009 Real Estate

                    Residential Market Report

                Crystal Springs Neighborhood

 

 

Active Listings: 25 Active Listings

Average Price: $255,554

Price per Sq Ft: $105.27 (Main Floor only)

Average days on the Market: 123

 

 

PENDING: 4 homes

 

 

SOLD: 24 Sold Homes

Average Price: $ 204,579

Average Price Per Sq Ft: $ 96.31 (Main floor only)

Average Days on the Market: 77

 

Expired: 36 Expired listings

Average Expired Price: $256,977

Average Price Per Sq Ft: $109.03 (Main floor only)

Average Days on the Market: 154

 

Absorption Rate for Crystal Springs Listings is 12.5 months for the

current housing inventory. If no other homes enter the market, it

will take 12.5 months for the current homes to sell at the current

rate of sales.

Crystal Springs Homes that are priced competitively are selling.

As you can see by the statistics, the homes that have their price

per square foot around $100 are selling in under 3 months. 

Many sellers have retired from the market and will try again in

the spring.  They might find a better buying market, but prices are

still on the downward trend.  With lower interest rates, this may

spur the local economy and put more buyers into the game.

 

Watermark CC purchases Crystal Springs GC

Crystal Springs GC has a new look & a new name

 

Caledonia MI Sept 2008 Real Estate Market Report

Kentwood MI Real Estate Market Report Oct 2008

Caledonia MI Crystal Springs Market Report Oct 2008

Caledonia MI Crystal Springs Market Report Nov 2008

Caledonia MI Crystal Springs Market Report Dec 2008

 

If you would like additional information about Caledonia

or Kentwood Homes, please contact me directly at

1-888-240-1968 ext 0

 

Grand Rapids MI Real Estate ~ Westbrook Realty

Copyright 2009     All rights reserved

photo of Kentwood High School 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 village Headley St Fall photos

 

 

 

     Ada Woods Real Estate  Absorption Report

                 February 2009

       7 Sold, 3 For Sale, 9 Expired

 

Ada Woods Active Listings: 3

Ada Woods Average Active Price – $ 325,933

Ada Woods Average Active Price/SqFt – $130.94

Ada Woods Average Days on Market – 121

 

Ada Woods SOLD Listings: 7

Ada Woods Average Sold Price -$ 306,079

Ada Woods Average Sold Price/SqFt – $117.76

Ada Woods Average Sold Days on Market – 127

 

Ada Woods Expired Listings: 9

Ada Woods Average Expired Price – $ 319,678

Ada Woods Average Expired Price/SqFt – $ 135.51

Ada Woods Average Expired Days on Market – 162

 

The Absorption Rate for Ada Woods Homes is 6 months, which

means that if no new listings come on the market, it will take

6 months at the current rate of sales to sell the existing homes

inventory.

 

MARKET SYNOPSIS: The  average sold price has lowered about

$ 7,000 since December 2008. The average asking price has

lowered about the same, 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 higher asking price.

If you don’t have your Ada Woods home priced below $ 120.00 a sq ft,

you will be waiting for a stronger sellers market to sell your home.

 

Ada Woods Market Report August 2008

Ada Woods Market Report Sept 2008

Ada Woods Market Report Oct 2008

Ada Woods Market Report Nov 2008

Ada Woods MI Market Report Dec 2008

 

If you have any questions about Grand Rapids or Ada Homes,

please contact me directly through my web site.

 

Grand Rapids MI Real EstateWestbrook Realty

Copyright 2008  All Rights Reserved

Headley St in Ada Mi photo by Bonnie Westbrook

We have gathered a list of the top Grand Rapids Township Houses

to buy based on price per square foot.  Most of these

Grand Rapids Township Homes are Forest Hills Schools.

**Please note that this list can change daily as some

homes sell, prices are adjusted and other homes

come on the market.

Check back often or just subscribe to our blog to get

up-to-date local real estate information that you want to know.

Caledonia MI homes for sale

The total square footage is noted here, although only the

main floors are used to figure price per square foot.

 

Grand Rapids Township:

Lowest price per Sq Ft    $54.68

Highest price per Sq Ft   $100.32 

 

February 2009  BEST BUY GR Township Homes

Highest list price is $ 414,900

Lowest list price is  $ 59,900

 

The Top GR Township Homes to Buy by Price per Square Foot:

3601 Lake Dr               $134,900    1750 SqFt    $ 91.58/SqFt

333 Park Ridge Ln      $ 139,500    1600 SqFt     $ 87.19/SqFt

4198 Knapp Ct            $ 74,900     1200 SqFt     $ 74.90/SqFt

4714 Cutter Parkway  $ 99,950     1828 SqFt     $ 54.68/SqFt

1043 Waltham Ave     $ 96,000      1069 SqFt     $ 89.80/SqFt

 

3299 Park Ridge Ln    $142,900      1600 SqFt    $ 89.31/SqFt

4324 Heather Ln        $269,000      2704 SqFt    $ 99.48/SqFt

3310 Dean Lake Ave  $ 59,900      1039 Sq Ft   $ 65.04/SqFt

3675 Willow Spgs       $414,900     4832 Sq Ft  $ 85.87/SqFt

2755 Pinesboro         $179,900      1907 Sq Ft   $ 94.34/SqFt 

 

2650 Bridge Place Dr  $180,000     2073 Sq Ft  $ 86.83/SqFt

3235 Midland Dr SE    $159,900     2085 Sq Ft   $ 100.32/SqFt

1874 Leffingwell Ave  $119,900     1650 Sq Ft   $ 80.47/SqFt

2342 Carrington Dr    $227,000     3000 Sq Ft   $ 98.65/Sq Ft

1796 Grand Ridge Ct $154,900     2200 Sq Ft   $ 96.81/SqFt

 

1789 Grand Ct           $134,900     1600 Sq Ft   $ 84.31/SqFt

3360 Nottingham Dr  $154,900     1608 SqFt    $ 96.33/SqFt

3047 Cascade Rd       $59,900       1726 SqFt    $ 92.64/SqFt

2056 Galahad St       $129,900     1500 SqFt    $ 86.60/SqFt

4271 Woodside Oaks $236,537   3453 SqFt    $ 68.50/SqFt

 

242 Ivanhoe Ave       $129,900     1368 SqFt    $ 94.96/SqFt

33 Robinhood Dr       $129,900     1628 SqFt    $ 79.79/SqFt

1787 Park Trl #30      $129,900    1600 SqFt    $ 81.19/SqFt

1762 Park Trl              $149,900    1838 SqFt   $ 93.69/SqFt

2755 Bridge Place Dr   $200,000   2140 SqFt   $ 93.46/SqFt

 

*Some of these homes may be bank owned foreclosures and

not habitable as is or available for a mortgage in present condition.*

 

If you would like a list of top best buys in your area, please

contact us through our web site:

Grand Rapids MI Real Estate ~ Westbrook Realty

Copyright 2009 All rights reserved

Current Caledonia MI Real Estate Market Report

Thornapple River 60th in Caledonia MI

Absorption rate for Caledonia MI Market is  currently 10 months,

which means if no other homes come on the market, it will take

10 months for the current inventory to sell at the current

sales rate.  This is up slightly from last month.

There are 136 current active listings, from $54,900 to $1,100,000 in

Caledonia MI.

17 Pending Home Sales, and 64 Sold Homes since Sept 1, 2008.

The current average Caledonia home listed price is much higher

[about $323,207] than the average sold price [$180,310]. 

 

This shows me that the upper end of the Caledonia  market is slow

to sell and the lower end (under $200K) is selling.  Sold price per

square foot continues to slide downward. There are some excellent

buys in Caledonia, don’t wait until they are gone.

 

Caledonia December 2008 Absorption Report

 

If you have any questions about Caledonia or Grand Rapids MI

homes,please contact me directly through my web site.

 

Grand Rapids  Ada Real Estate  ~ Five Star Real Estate

Copyright  2009 All rights Reserved

Photo of Thornapple River at Ruehs Park by Bonnie Westbrook

 

The Residences at Watermark are located on Watermark

Golf Course  just south of Cascade Road.  

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 entrance

                              Watermark Residences

                 February 2009 Real Estate Market Report

For Sale: 7

There are 7 active Watermark Homes  currently on the market.

The average Watermark Homes current active price is $ 809,743.

The average Watermark Homes current price per sq ft is $ 240.39.

The average days on the market for active Watermark Homes is 125.

The high price is $ 2,700,000 and the low price is $ 179,800.

Sold: 7

There have been 7 Watermark Sold Homes since May 1, 2008.

The average Watermark Sold Homes price is $ 491,714. 

The average Watermark Sold Homes price per sq ft is $193.81.

The average days on the market for Watermark Sold Homes is 71.

Pending: 0

Expired: 18

 

At the current rate of sales, we have a 9.35 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 December 2008 Market Report

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 Country Club ~ Pool Time

 

Grand Rapids – Ada Real Estate  – Five Star Real Estate

Copyright 2009  All rights reserved

photo of Watermark Residences Entrance by Bonnie Westbrook

Current market conditions have brought home prices down to levels we

haven’t seen in several years. All price levels and amenities have been

affected.

Now may be a great time to think of owning a Waterfront Home.

I have included a list of over 30 homes in Kent County Michigan in the

$200,000 to $300,000 price range, in the above link.

Water front ranch for sale kent county mi

This river front home is listed for $219,900 and is nearly new, being built in 2008.

If you are eligible for a first time buyer tax credit, buying this home could be

less than you think.

The above link will take you to an explanation of the 2009 tax credit and some

possible applications I have provided.

 

Grand Rapids Ada Real Estate ~ Five Star Real Estate

Copyright 2009 All rights reserved

The first attempt to give a credit to buyers last year seemed very limited in

benefits. I looked at it as an interest-free loan that had to be repaid.

The accounting alone would discourage buyers about taking it.

With the new American Recovery and Reinvestment Act of 2009 comes a

new first time home buyer program. The following chart provided by

NAR gives an overview of the changes and benefits.First time home buyer tax credit

Let’s do an analysis on buying 3 different homes:

Starting with a home with an $80,000 loan, then $150,000 loan and finally,

a $300,000 loan.

Remember you must be a First Time Buyer [or not owned a home for 3 years]

and make less than $75,000/yr for a single owner and $150,000/yr for a couple.

The examples are estimates based on an estimated 10% down payment with

PMI(Private Mortgage Insurance).

Other loan terms and down payments are available and will cause these

calculations to vary. Call me & we can see how it will impact you specifically.

Hypothetically, you just bought a home for $88,000, with $8000 down.

Loan               $80,000

Int Rate              5.5%                  Payment    454.23

Taxes                 1200                  Tax / mo   100.00

Insurance             500                   Ins / Mo     41.67

PMI                     420                    PMI/ MO    35.00

Total payment per month                             $630.90

 

Now, what is the best way to use your $8,000.00 credit?

Option 1: Increase your Federal Income tax deductions with your employer

paying in $8000.00 less in taxes and use the extra money to make

the payments for a year and live in your new home for free for the first year.

 

 

Option 2: Increase your deductions so you pay in $8000.00 less in taxes.

Send the extra money into the principal on your mortgage every month.

With the additional payment to principal you will reduce the term of the loan

by 6 years, saving $26,000 in interest over the term of the loan. Potentially

paying the loan down far enough that you can ask for the PMI insurance

to be removed, since you now have an additional 10% payment to principal.

Option 3: Save the money and get less than 1% interest.

The same comparison of Option 2 for a buyer with a $150,000 loan: it reduces

the loan term by 3.5 years and saves $28,800 in interest over the life of

the loan. 

The same comparison of Option 2 for a buyer with a $300,000 loan: you

reduce the loan term by 1.8 years and save $29,700 over the life of the loan.

However you decide to use your $ 8000 tax credit, as long as you stay in the

home for 3 years there is no penalty or payback. At the very least, you are

ahead by $8,000 and you could have an additional $26,000 to $29,700 in

interest savings on the life of your home loan. 

If you were hesitating about buying a home, this should encourage you buy

a home soon.  I would be delighted to discuss the 2009 Tax Benefits to you.

***This analysis is based on estimates I have made based on real estate taxes,

Interest rates, Insurance premiums  will vary based on the home you select.

Grand Rapids Ada Real Estate ~ Westbrook Realty

Copyright 2009 All rights reserved

Grand Rapids Township Real Estate Market Report

Meijer Gardens Entrance2004

Current Absorption Rate for Grand Rapids Township homes is 11 months,

which means if no new listings come on the market, it will take 11 months

to sell the existing inventory of homes.

 

There are 193 Active listings currently for sale.

The average List price is $ 308,284

Average List price $/SqFt  $141.77

 

97 Sold & Pending Grand Rapids Township Homes since 9-1-08.

The average SOLD price is $ 248,346

Average Sold Price /SqFt  $123.70

High Sold Price $ 775,000

Low Sold Price  $  57,500

 

If you have questions about Grand Rapids Township or Grand

Rapids homes, please contact me directly.

 

Grand Rapids -Ada Real Estate – Five Star Real Estate

Copyright 2009  All rights reserved

Photo of Frederick Meijer Gardens Entrance by Bonnie Westbrook

Grand Rapids Photos

Categories

February 2009
M T W T F S S
« Jan   Mar »
 1
2345678
9101112131415
16171819202122
232425262728