Grand Rapids, MI

Homes for sale inventory can affect how long your home is for sale and what your eventual sell price could be. Less homes available in the housing market for sale means a higher concentration of home buyers for remaining homes for sale. Conversely if a larger number of homes are competing for the same buyer the lower the sell price and fewer buyers see the majority of homes available.

This is a basic supply and demand matrix. Sometimes called a seller and buyer's market. Many areas of the country have more homes for sale in the spring and summer. This seasonality issue in Michigan happens in the spring. We call it the spring market. In Florida the market is better in the winter, in many areas, because of retirees shopping for homes.

Each housing market has it's trends and opportunities for seller's and buyer's. Timing is considered by many to affect sales while others that watch the housing market can predict the future based on sales history. Like other reports I have published one month does not make a trend.

Just like the sales versus sold inventory report below it will start changing dramatically in another month. We will start seeing more homes being listed for sale. This is our typical pattern or spring market surge. Buyer's and seller's would like to be settled before entering the fall and winter months in Michigan.

What does the report below tell you about the Grand Rapids housing market and the homes for sale?

Considering selling your home but do not have an idea of what sell price to place on your home in the current Grand Rapids real estate market? In the Grand Rapids Real Estate housing market one of the guides to use for sell price analysis is the cost per square foot of a home.

This analysis can also be very telling on the current condition of the real estate market. In 2006, before greed turned the housing market upside down, the average price per square foot to build a home was approximately $110.00 in the West Michigan real estate housing market. Today it is nearly $30.00 per square foot lower.

Home selling prices determine the price per square foot value not a listed price on a home for sale. I know lot's of people will argue that point but I fail to see how some fictitious price is more than an "asking or starting price". Until the home sells nothing is established except for the prices others paid for homes in the area or proximity of the current home for sale.

Seller's and Buyer's can utilize the cost per square foot factor when estimating a fair sell price estimate. Of course like any other method this is a subjective process. For example one home may have more amenities with the same square footage. Pricing them the same would not be comparing apples to apples, so to speak.

Like any other report this is another tool to help you establish a home selling price, a median number to adjust up or down from there. You should use more specific information when setting your home sell price. Look over the report for the last 13 months. These reports change daily, ask your local real estate home selling professional for specifics to set your homes sell price.

Every home seller should know the average time it will presumably take to sell their home. This information should also interest home buyers.

Seller's can use this information as a general guide to home selling time-frames. The variables are condition, location and price. I would add one more very important consideration to the list. Marketing and the exposure of your home to buyer's by the seller or the agent or broker hired as the real estate sales agent.

Buyer's many times play "chicken" with their future by waiting for the price on a particular property to go down before making an offer. This can be contributed to the "Good Deal" syndrome! Everyone wants a "Good Deal" no matter what they buy. When buying a house or car everyone knows you made a major purchase. Now here is the reality for many home buyers. They wait and someone else ends up enjoying what was going to be their dream home!

In our economy buyers that are "real buyers" not lookers, buy and do it 95 days in the Grand Rapids Real Estate housing market. When you see the chart below that outlines the average time it takes in the Grand Rapids Housing Market to sell a home, I think you will be surprised.

This length of time in real estate terms is called "Days on Market" or DOM.

As with any statistical report, this information changes by the hour and day as homes sell, additional homes are listed for sale and other home listings expire. The key is what is the trend. One week or month does not make a trend. You can see the time to sell your home in the Grand Rapids housing market is very consistent month over month.

One additional factor to consider is this report is based on a very wide price range. Within specific price ranges, when the number are more specific i.e.: 3 Bedroom Ranch, priced to sell at $130,000.00 may have a different selling time frame than a 3 Bedroom Ranch, priced for sale at $350,000.00

You are looking for trends and guidelines. Then step into the specifics of your home, sell price, location and condition to create a comprehensive analysis of estimated time frame to sell your home.

Selling Home in town may seem like an odd question to ask. The fact is, many agents and brokers do not use the right keywords to help the search engines place their blogs, articles and online advertising of a properly in the right location.

Google like many other search engines is using a blended searching method to offer a better user experience to those using their search engine. Without specific keywords and tags to help identify those keywords your article might be showing up in a location you never intended.

For example if you do not sell home regionally around the city your in why would you use words that make a search engine think you do? Getting specific is going to help you with placement. For example I sell home in Grand Rapids Michigan. Grand Rapids is a large metropolitan area that has multiple cities with shared boarders, like Wyoming Michigan, East Grand Rapids, Grandville, Kentwood, Walker and Comstock Park touch the boarders of Grand Rapids, Michigan city limits. Unless you seen a sign you might not know you entered into a different municipality.

It would not be productive for my sellers or for buyers looking for homes in a specific city or zip code if I generalized my listing. I can hear you now! Being general exposes my listing to more buyers. Maybe and maybe not, would be my answer. If I am searching for Grand Rapids Michigan specifically and want a 5 bedroom home, what phrase will I type into the search bar? Home(s) for sale Grand Rapids?

That is too wide of a search query to yield my real need. I would bet you would type in the search bar 5 Bedroom Home For Sale Grand Rapids . Including the bedroom requirements, for sale, city and state zero in on your specific needs. Not everyone goes to the MLS or real estate agent websites to do home searches. It would be great if they did but that is just not the case. If you do your homework, the search will work even if the buyer shortens the search query.

5 bedroom Home For Sale GR, the point is simple. When buyers are looking for a specific type of property and your listing is on the first page your client wins and so do you!

You do not have to be the first listing on the page to get the click through results from the searcher. Being on the first page in the organic search area increases your opportunity to be found. 70% of those looking for specific information never leave the first page.

I hope this helps you and your clients sell their home.

Wondering what the heck that is?

One of my little Passions or Obsessions. The MC Scow is a 16' long 5'8" beam racing sailboat. MC Scow Class is a strict one design fleet.

I have raced sailboats for a long time (30 years) although I have reduced the size by about 30 feet I now spend my summers racing a small boat called a dngny. Kind of fitting I think, some people think it is a bit dingy to spend so much money on something sooner or later you will surely damage.

The type of boat I race, right now, is an MC Scow built by Melges Boat Works. For the most part this boat is more likely to be found in the Mid-West while fleets of these little boats cruise inland waters all over the United States. I am a member of the Grand Rapids Yacht Club that has been a fixture on the west end of Reeds Lake in East Grand Rapids, Michigan longer than most people can remember.

Come May of 2012 we will host an annual race for the MC Scow call the "Spring Shakedown". If you are in the area a park is close by to watch all the action without ever getting wet! The race date for the "Spring Shakedown" regatta is May 18-20, 2012.

I created a little couple minute video for you to enjoy showing last years action. I think you will find it entertaining and a nice break from everyday real estate. You have to be a bit athletic for one of these boats as you'll see but it will keep you in shape! I lost 7 pounds over the course of two races. I drink a ton of water too! My physician, (I just changed!) told me I should row instead of sail! I think he was telling me something about pizza!

What's your passion?