It was a surprising large group which recently got together for a meet-up in Grand Rapids, MI. Loosely named, the 'Lunch Bunch,' the ladies ranged in age from the late thirties to the mid 70's. I had been asked to join the group for a meal at the Heritage Restaurant in Grand Rapids, MI.
As we piled into cars and mini-vans to wind our way downtown, there was a palpable excitement about the joy of a social outing in the middle of a seemingly interminable Michigan winter.
The Heritage Restaurant is located on the first floor of the Applied Technology Center of the Grand Rapids Community College. We found a parking spot in the underground lot and proceeded up one floor where we were greeted by one of the college culinary instructors and his team of students!
You see, the Heritage Restaurant is a unique experience in fine dining. It's one of the few places on the planet where you can get a five star dining experience for a one star cost. This is because the Heritage Restaurant is staffed by 'Tomorrow's Chefs'...students who are being trained in the fine art of exceptional hospitality at the Secchia Institute for Culinary Education.
White linen and fine china covered the tables. The restaurant was quite full on this particular day and it is wise to make a reservation to ensure you are seated. Our wait staff passed out the lunch menu which included a variety of appetizer selections, soups, salads and main entrees. I decided to be adventuresome and ordered the Moroccan Chicken spiced with cumin and cinnamon and paired with sweet potato and a mint sauce. The combination was inventive and scrumptious!
All meals at the Heritage Restaurant are prepared by the students under the watchful eye of professionals chefs and instructors. Our waiter informed us that the second year students were preparing the food and the first year students were serving the guests. On both counts, the service was impeccable!
Lunch at the Heritage can be afforded within a reasonable budget. I had a beverage, main entree and dessert torte for $13. That amount might have simply paid for my appetizer in a more pricey establishment.
And yet, as I looked outside the full length glass wall which provided an expansive view of the city and also highlighted ice carvings created by the students, I couldn't help but think about how lucky we are in Grand Rapids, Michigan to have an establishment like the Heritage Restaurant which serves up such extraordinary Value with a classy, distinctive style!
CURRENT SPECIAL VALUE DEAL: 25% OFF(excluding beer or wine purchases) for you and a guest on Tuesday of Wednesday evening. Treat Yourself!
Heritage Restaurant: Grand Rapids Community College, Secchia Insitute for Culinary Education
Website: www.grcc.edu/Heritage
Address: 151 Fountain Street NE, Grand Rapids, MI 49503
Reservations: 616-234-3700
Flying underneath the radar, cloaked underneath the drab, dismal garb of 'bad news' about the real estate market in Grand Rapids, Mi is a little wisp of information which is not yet tracking on the screens of the local media. It's this little secret...some homes in Grand Rapids, MI are getting multiple offers!
This left many agents scratching their heads in wonderment. For had not the "Powers that Be" across the nation pronounced doom and gloom? The REALITY of what they were bumping into as they actually worked in the real estate profession didn't seem to jive with all the 'expert' prognostications and dire warnings.
Well, a little sleuthing revealed one potential reason for the anomaly. A large number of homes were being sold as Foreclosures and Short Sales. In fact, so much so that by the end of the year, (2008) the percentage of ALL HOMES SOLD by the local real estate board that were labeled in this fashion had reached 70%! Savvy investors began to scout the local market, hiring real estate agents to sniff out the 'good deals.' While this activity brought down home prices, it also had another pretty important effect...
The description of a what defined a home as a 'good deal' expanded. Because you see, in reality, not every buyer in Grand Rapids, MI was interested in buying a home that would need tons of fix-up work, nor were they all over-joyed at the prospect of waiting forever for banks and their assorted representatives and investors to make up their minds about accepting a viable offer.
A good deal for frazzled home buyers began to encompass homes without the concomitant hassle and suspension of the short sale transaction OR the extra work required for buying homes sold in "AS IS" condition where the mystery of a potential purchase provided additional unexpected excitement!
In the midst of this chaos of uncharted waters, savvy homeowners began to smell an opportunity and rise to the occasion. Some Listing agents observed the underground movement as a shift in the tone of traditional listing appointments. It was noted that home owners who were serious about selling no longer argued with them about the reality of the market...they had already researched their neighborhood, driven around the area and were prepared to deal with reality. They also understood that not ALL Grand Rapids, MI neighborhoods had been affected by the crisis to the same degree and recognized that local expertise was worth it's weight in gold when the standard was set by the hallmarks of accuracy and knowledge of the local market!
So when we rang the doorbell on the front door, agents who had the good fortune of meeting with these prospective home owners found a willing partner who appreciated and understood the Value in their chosen professional and were prepared to heed honest counsel. On more than one occasion, these determined homeowners took copious notes on every single suggestion and then went out and did EVERYTHING that was requested of them!
At Audu Real Estate, I've nicknamed this phenomenon "The Other 30 Percent." The "Other 30 Percent" refers to the homes which sell without fanfare in a market which is deemed to be impossible. These homes reflect the market TODAY and are not over leveraged with debt. There are homes that are not being foreclosed on or sold via short sale in the Grand Rapids, MI area and some of them are getting more than one offer. But again...there's a little more to this than meets the eye...
To compete in these murky waters, homeowners who want to become home sellers must be prepared to do what is necessary to Price their homes correctly, Set the Stage and Engage in pro-active Marketing. What is Pro-Active Marketing? Well, it's marketing which extends well beyond a sign in the yard and your home listing on the Multiple Listing Service. It's the sort of marketing that goes out and attracts the buyer rather than hoping that they discover your existence within the thousands of homes competing with you on the Multiple Listing Service.
Pro-Active Marketing...
Pro-Active Marketing engages and entices potential buyers to engage in the experience of owning your home vicariously through a variety of mediums and promotion. If you'd like to learn more about HOW this Web 2.0 medium of marketing can engage the imagination and not just the eyeballs of a home buyer, contact Audu Real Estate, licensed agents specializing in residential real estate in Grand Rapids, MI for a real LIVE demonstration!
Copyright 2009 Audu Real Estate All Rights Reserved
The Ann Arbor Area Board of Realtors has scheduled 2 New Blogging & Web 2.0 Continuing Education Classes for February 19, 2009. Here's a snippet from the website promo:
"It seems everyone, from celebrities and athletes to CEOs, heads of nonprofits, and members of Congress have a blog. Some corporations, such as Verizon and Cisco have even successfully used blogs to affect legislative change. Blogs often rank high in search engines, offer better communications, opportunities in relationship building, and media and public relations. Blogs are a low cost way to market yourself, gain insight to your customers, appear authoritative, build, and maintain your reputation."
"Did you know that approximately 51 percent of the blog readers visit product and/or corporate sites because of reading blogs?"
If you're in the Ann Arbor, MI or surrounding areas, you will want to take advantage of these State Certified Courses which provide 4 hours of Continuing Education Credit. You will also benefit from learning how this leading edge technology is transforming the nature of real estate marketing and prospecting in a way which can increase your earning potential in 2009.
The courses are: Blogging Basics for Real Estate Professionals (K1061) and Blogging Ethics for Real Estate Professionals (K1062) Both courses provide a comprehensive overview of issues which are emerging as important aspects of performing in the real estate industry of the future. Visit the site to register. Also open to Members of the Public.
Click here to read a testimonial by Macomb County agent Kris Wales
Classes will begin at 9:00 a.m. and end at 1:00 p.m.
Location: 1919 W. Stadium Blvd. Ann Arbor, MI 48103.
Instructor State Code: K355
Registration available online.
Grand Rapids, MI 2009...
Homeowners in Grand Rapids, MI have witnessed a startling increase in the rates of homes sold through foreclosure sales and short sales. In the early portion of 2007, the percentage of home sales that were 'crisis sales' hovered between 14% - 16%.
But by the end of 2008 and into early 2009 the numbers had escalated dramatically to account for over 70% of the homes sold by the members of the Grand Rapids Association of Realtors Board.
Selling a home within this type of environment requires a different approach.
Although marketing a home has never been easy, the challenges of the current crisis require a firm resolve and focus to do whatever it takes to succeed.
The Truth about this Market...
A very different mind set is required...that is IF you intend to sell your home within the next 12 months. Now, one important note: this market is not for everyone. If you have recently purchased a home or don't have a compelling need to move such as a change in life circumstances or employment, this may NOT be your market.
However, there are some things which you can do to enable a more efficient process if you have to sell your home for less than what you owe on the mortgage aka as a Short Sale. Here they are:
Document your financial hardship...
You will be required to give a fairly detailed accounting of your financial condition which will include statements from all bank accounts, investment accounts, tax records, a credit report, and a letter documenting your situation. Be prepared to submit this documentation in an organized fashion and include a letter/statement which authorizes the bank to speak to the appropriate professionals such as your real estate broker if your home is listed.
Set the Stage...
Just because your home is being sold under less than ideal circumstances does not mean that it should be portrayed this way in your marketing efforts. The goal of a short sale should be to sell your home. Remember that your home will be competing with potentially hundreds or thousands of homes.
Unless a home buyer falls in love with your home, you won't even have the chance of negotiating a short sale. You may also inadvertently attract even lower offers from buyers who smell desperation within the mess. It should also be noted that home buyers are often wary of the long drawn out process that the negotiation of a short sale requires so make it worth their while to wait!
Price to Compete!
One of the most interesting points during my listing presentation is when I show home owners a map of just how many homes are listed or have sold within their community within the past year. Most people are more than a little surprised.
There's a lot of activity happening in the real estate market right now and you owe it to yourself to have an accurate understanding of your neighborhood market. Run the other way if an agent shows up at your door to take your listing in hand without documenting in detail WHY and HOW he/she has arrived at a pricing strategy and listing price.
Detach the Sentiment...
Proper pricing and subsequent adjustments are critical if you are to succeed. A market rife with foreclosures sometimes makes for a 'moving target' when it comes to determining the right price. Be prepared to make adjustments quickly to reflect market realities which will include banks unloading more of their extensive foreclosure inventory in 2009. Emotional attachment about why this 'awful situation' should not apply to your particular home will not serve you well when you're dealing with buyers who are primarily looking at the bottom line.
On the other hand...a good deal cannot be hidden! We're seeing homes priced competitively getting several bids and sometimes selling above the listing price. These homeowners took the time to understand their market and to respond accordingly. My counsel if you're determined to Sell Your Home...is to take note.
Click here for Related Short Sale Articles:
Copyright 2009 Audu Real Estate All Rights Reserved
It seems that 2009 is whizzing by even faster than 2008! It's amazing to think that Valentines Day Celebrations will soon be around the corner as the world pauses to give a 'little love.'
A little love would certainly be welcomed by home owners in the Grand Rapids, MI area who need to sell their homes. 2008 was not a kind year for many who lost their homes as foreclosure and short sale rates as a percentage of homes sold climbed upwards of 70% at the end of year and the average home price for a home in Grand Rapids, MI dipped below $100,000.
January of 2009 reflects the ongoing economic malaise which has plagued the nation. Foreclosure/short sales rates as a percentage of home sales stayed pretty even...just upwards of 71% but the good news was that more homes were sold. Although, this is to be expected as we shift towards a traditional spring market...tradition is not something which has been descriptive of real estate activity within the past couple of years.
While home sale numbers are still low, we continue to note a levelling off of homes on the market. Observers should still keep an eye on the number of foreclosures as recent indicators from sources who track industry numbers like Real Trac indicate that up to 70% of the nation's inventory of foreclosures is yet to be listed.
A hopeful sign on the horizon is the proposed stimulus of up to $15,000 for home buyers which is winding it's way through the chamber of commerce. This along with lower interest rates may spur some buyers who remain on the sidelines into action. It remains to be seen...
Stay tuned for upcoming blog post with Tips about selling w/in a Foreclosure Market.
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Grand Rapids, Michigan Real Estate including information on local real estate market conditions and insights from Lola Audu ~l Grand Rapids, MI Real Estate Broker.
Lola Audu, CRS GRI
Associate Real Estate Broker & Owner Audu Real Estate
, Grand Rapids, Michigan
I have been a Realtor since 1995 and have had the opportunity to meet and assist hundreds of families and individuals. Over 95 percent of my clients hear about me from a friend or family member. I don't believe in a cookie cutter approach, rather I think that each transaction should be handled the way a skilled tailor would fashion a suit made to fit.
I have travelled extensively within the United States and several countries. My background in an international community exposed me to individuals from all over the world. As our nation becomes increasingly diverse, this wonderful opportunity I have to live, work, play and gain knowledge about all God's children is a gift I celebrate every day!
*Lola has written and taught a variety of courses. View her Training courses on-line....
An important professional development this year is the opening of our new real estate agency, Audu Real Estate. We've outgrown our previous location and will be moving to a brand new refurbished office on the corner of Alpine and 4 Milejust behind our current office. The address is 3659 Alpine Our office suite is adjacent to Audu Engineering Consultants, a full service civil enginering firm. Audu Engineering Consultants also provides structural services and design consultation for subdivision developers which enhances the options available to our investor clients.
Our team currently has full-time real estate specialists who work with several auxiliary consultants in the lending and inspection industry and strive to provide memorable, grace-filled real estate transactions to our clients, their family and friends. Each Client Specialist at Audu Real Estate commits to a rigorous on-going program of training and personal development. "On Track for Success" our agent training program is a 1-2 year long apprenticeship to ensure that the skill and art required to become a professional real estate practitioner are mastered.
As Internet savvy real estate professionals, we utilize the power of blogs and online professional networking to enhance the flow of information about the housing market in Grand Rapids, Mi and to market the homes we represent. Because we embraced this emerging technology early, our clients receive are kept abreast of the latest developments which are impacting the purchase or sale of a home.
This commitment to excellence and dedication to our clients is expressed daily in follow-up, follow-through and results! Meeting and exceeding your expectations means that home sellers and home purchasers receive extensive research for their homes and several have received multiple offers on homes listed for sale this year; one of the most challenging markets our local area has ever experienced!
Audu Real Estate: How We do Things Differently.
In addition to assisting sellers with selling their homes and assisting buyers with their home purchase, we offer a number of specialized unique services and products which include:
1. Staging your Home for Success
We provide staging expertise to help you make your home a memorable showing experience for potential home buyers and their real estate agents. We have access to a number of individuals who have extensive experience in interior design and home accessorizing. The service of staging can cost several hundreds of dollars, but there are indications that a properly staged home nets 7-13% More than a home which is not staged. This service is FREE to our clients. To learn more....
2. E-Neighborhood Reports- FREE to our Seller & Buyer Clients
An E-Neighborhood Report is a detailed 15-30 page report about the neighborhood including recent sales, types of financing, community demographics, types of homes and much more! We also make this informative report available to buyers to compare up to 4 DIFFERENT communities before making an important investment decision. The E-Neighborhood neighborhood analysis is combined with a Professionally prepared Comparative Market Analysis to focus on homes which are most like yours in your community. The benefits of understanding these facts prior to listing or purchasing a home are important in protecting your home equity. To learn more...
3. Broker is also a trained Loan Originator and has processed closed loans
We are Realtors and this is by choice. But as the mortgage industry has expanded in recent years, it became clear that we needed to have more understanding in this area for the benefit of serving our clients. We are able to provide assistance to clients in selecting the right loan and reviewing options for financing. The Broker's knowledge of financing has helped clients make wise choices in a number of different situations including re-financing a home, negotiating short sales with banks and comparing different mortgage programs. We will work to create a cooperative working arrangement with any Mortgage lender the buyer selects and monitor the transaction to ensure a smooth closing.
4. Experience with Relocation and Sales nationwide and internationally
We have closed transactions with clients in a number of states and have worked with clients who have been relocated or been on assignment overseas during the process of transaction. Lola Audu's cross-cultural experience in living and visiting several countries on three continents gives her a window to the world and this appreciation and dexterity enables us to provide an understanding environment which is sensitive to the unique challenges of differences in backgrounds and culture. We serve and honor the dignity of the human soul and that transcends culture.
5. Foreclosure & Short Sale Negotiation
For Homeowners...
We have successfully negotiated and assisted many clients through the bewildering and disheartening process that often accompanies the unfortunate circumstances which may necessitate a short sale. Our focus and energy is directed in giving sound counsel and providing clarity. We understand that by the time a short sale or foreclosure is necessary, people are drained on a number of different levels. Our goal is to provide the information & support to get the home sold and whenever possible avoid more trauma.
For Home Buyers...
Grand Rapids, Michigan has recently gained national recognition as being one of the most affordable places to live in the United States. This is a solid community and Investors are beginning to appreciate the opportunities that exist here. If you are interested in investing in the Grand Rapids, Michigan area, this is an excellent time to be a buyer. We provide a number of services and referrals for Investor clients.
Get Free List of Forclosures in West Michigan and surrounding communities....
6. Thoroughly Well Trained Agents
Every new agent with Audu Real Estate is enrolled in a 1-2 year apprenticeship. In addition to weekly educational classes, agents are required to complete assignments and work with a skilled Mentor to develop their skill set. All contracts are reviewed by the Mentor. Because we know that we can't improve or correct what we do not know, ALL clients are given an opportunity to grade our agent experience. Compliments our agents have received can be viewed here. You can also see Examples of Class Selections and Training offered through Audu Real Estate including our NEW 2007 Learning Series.
7. Negotiation of Transaction & follow-up Through to Closing
We present all offers and include a Net Sheet. There is NEVER a surprise about the proceeds at a closing. Negotation is a skill set and an art form. It requires an understanding of legal implications and an ability to protect and enhance a clients options and position. The real estate transaction is inherently adversarial. Both parties aim to get the best deal possible. We don't think this necessitates enmity. Our aim is to ensure a fair and good result for our clients. We know that our reputation for fairness and competence benfits our clients and their real estate concerns.
When you're ready, Use this Site to Search for Homes in Various Local Grand Rapids Area School Districts....
Search the Local MLS for Homes in Byron Center School District,Allendale School District,
Cedar Springs School District, Caledonia School District
Comstock Park School District, East Grand Rapids School District
Forest Hills School District,Grand Rapids School District
Grandville School District,Wyoming School District
8. Other Stuff...
Yes, there are all sorts of things that we do to serve our clients. First of all, it is our sincere desire to build friendships, not just sell homes. We take the time to really listen and seek to understand. We keep in touch, not just because it is our job, but because we want our clients to be informed participants in the process and we also enjoy touching base. We've assisted with arrangements for cleaning, moving unwanted debris, shoveled snow, made a bed, done some dishes. But, what's this amongst friends! Lastly, we know that no one is introduced to our practice by accident. We strive to discern the true reason for the encounters we experience. Our weekly prayer focus for each client is for God's blessing in their lives in the way they need it most. Sometimes, this may be the greatest service we give.
BLOG DISCLAIMER
The information contained in the articles on this blog is the property of Audu Real Estate. Comments posted in response to individual blog posts are the opinions of the respondents. Audu Real Estate is not responsible for the opinions, thoughts or ideas expressed by visitors to this blog nor for any liability for any damages or losses direct or indirect that may result from the
use or reliance on information contained herein. The information provided is deemed reliable but not guaranteed. This blog is provided for informational purposes only. Readers are advised to contact a real estate professional for specific counsel related to their individual real estate needs.
Recent testimonial-- 2008
January 21, 2008
To Whom It May Concern:
After my husband got a new job, we needed to move. Having been married just over a year, we were not planning to become homeowners so soon, but seeing that the market seemed to favor buyers, we decided to look into purchasing our first home. We received a personal referral from a close friend to consider Audu Real Estate. After our initial meeting with Lola Audu, we knew we had found the right real estate agency.
Lola was very personable and genuinely interested in our needs. She asked us what kind of things we were looking for in a home, but she also asked us what our personal interests were and where we saw ourselves in the future. We enjoyed the conversation and were impressed by the holistic approach that Lola took. In addition she explained many of the home buying process basics. Click here to continue reading...
Dear Renee & Lola
I wanted to write a quick note and thank you BOTH for all the love and concern and just plain WORK you put into our journey of finding the "right" owner for my folks home these last 6 months.
I was pleased from beginning to end with everything. It was all handled with such excellence and I am sure quick to refer anyont to your company, Lola :) And thank you for the lovely roses that were delivered to the office on Friday...What a treat!!! You two were the best. Thanks again for everything,
Thank you so-o-o much for your diligence; but most of all for your prayers. Praise God
Flo G.
Dear Lola,
Thank you for taking time for the staging appointment at my folks home. What a neat experience! I learned so much and realized how much you know. Thanks again for being everything God has called you to be.
Love Sue
Dear Lola & Ed,
Thank you for giving us such a smooth closing on the condo. It is always enjoyable to work with professional Realtors like yoursevles.
Best wishes,
Dave
P.S. Let's not wait another 5 years to do another deal!
Things went great! Thank you again.
Rich & Linda
Please visit us on-line at http://www.auduhomes.com/ to view many comments from our clients!
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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