Tammy Stone~ "Eco~GREEN" Agent in West Michigan

How did the West Michigan area compare to last year's market stats. Check it out. Contrary to media belief, last year (2007) was very comparable to 2006. I look forward to an upward turn in 2008!!!

Single Family and Condo Report

Price #Sold through

December

$0 to $ 99,999 2912

$100,000 to $199,999 4946

$200,000 to $299,999 1158

$300,000 to $399,999 356

$400,000 to $499,999 134

$500,000 and over 142

New Listings Jan - Dec.

2007 2006

34,263 34,500

Total Sales

2007 2006

10,355 10,643

Average Home Price

2007 2006

$149,436 $160,793

All in all, things averaged out and were very comparable to 2006. For more information on the latest market trends, please visit http://www.seegrhomes.com/

** All information is gathered from the Grand Rapids Association of Realtors MLS board.

Everyone's favorite question is, "What's going on in the Market?" Great news. In comparison to last year's figures, listings are down and sales are up. Activity has definitely increased with the buyers. It truly is "A Great Time To Buy!"

Be sure to check out the immediate release posted by the Grand Rapids Association of Realtors board about existing home sales (reprinted with permission). 2008 looks like it's going to be a great year!

Reprinted By Permission from:

Grand Rapids Association of REALTORS®

660 Kenmoor Ave SE, Grand Rapids, Michigan 49546

Phone (616) 940-8200 or Toll Free (888) 940-GRAR

Fax (616) 940-8216

FOR IMMEDIATE RELEASE: CONTACT: Julie Rietberg

Friday, February 29, 2008 616-940-8200

julier@grar.com

The Grand Rapids Association of REALTORS® reports that sales of existing homes, including single-family homes, vacation homes, and condominiums, rose to record levels in January of 2008. The Association reported 996 sales in January of 2008 - an 18.9% increase over this same period last year, and its strongest January sales report since 2002.

This comes on the heels of the Association's report that sales of existing homes in each month of the 4th quarter of 2007 also rose to record levels when compared to 2006.

Jim Fase, President of the Grand Rapids Association of REALTORS®, said that this notable rise in home sales means we will likely see a faster and more meaningful recovery of the local housing industry, which will help to stimulate overall economic activity.

"The average price of an existing single-family home in January was $129,500, a reduction that was anticipated in light of the increased number of sales of homes in January that were at or near foreclosure. Subprime loans and other risky mortgage products have virtually disappeared from the marketplace which means that current sales are more stable and will lead to steadily higher home values later in the year," he said.

The adjustment in the average price will also enable more first time homebuyers to purchase a home. The National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) http://www.nahb.org/news_details.aspx?sectionID=0&newsID=6228] reports that Grand Rapids ranks as the 5th most affordable major housing market in the U.S. This is based on a measurement of the percentage of homes sold in the Grand Rapids area that are affordable to families earning this area's median income.

"The steady increase in the number of home sales in this area gives us confidence that we may have turned the corner," Fase concluded.

The Grand Rapids Association of REALTORS® is a regional organization working toward the advancement of the West Michigan real estate community. Its members are also members of the National Association of REALTORS®, America's largest trade association, representing over one million REALTORS® involved in all aspects of the residential and commercial real estate industries.

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Sellers - I noticed that a lot of you are curious about your home's value. And if you are thinking of selling in the future... here's some great news. But first, let's cover the bad.

Some of the issues that I deal with on a daily basis are:

1) So many foreclosures ~ a great deal for buyers but overall a detriment to the overall value of your home.

2) So many homes for sale ~ a lot of competition, longer days on the market.

3) 2nd and 3rd mortgages and the decrease in home sales causing home owners to have little to no equity.

Good NEWS, There is a plan...

I have to preface this with the fact that PRICE is always going to be the number one factor in selling your home. Price has to be accurate or your home won't sell. And let me tell you, buyers definitely have a good feel for what price range they believe your home should sell at by the fact, that they have already looked at all the other homes in your price range.

To combat the problems above we need to address the:

FORECLOSURE ISSUE-Foreclosures are a great deal, but you never know what other issues and problems you may run into when buying a foreclosed home. Staging and having your home set and ready to go is vital in today's market. There are still buyers that want a good deal but are not willing to do the repairs necessary on the foreclosures. They want that home that is "ready to move into".

COMPETITION ISSUE- With so much competition on the market, you need to set yourself apart from all the other homes on the market. You need a true market differentiator that will cause your home to sell faster.

I have that piece that will set your home above the competition with a faster sale. Call me for more information at (616) 318-6101.

LACK OF EQUITY- By the time we find the right price, we may find out that there is hardly enough money to pay off what needs to be paid off. To help you save on commissions, I have the ability to offer a program that allows you the freedom to sell own your own but also has the help of a trusted Real Estate advisor, namely ME. It's a FANTASTIC way for sellers to save some of their equity and still have the help of REALTOR. I LOVE this program, so if this one fits you... call me up. I can't wait to tell you all about it!

Call me at (616) 318-6101, there are finally some options that can get that home sold at a reasonable price!