Grand Rapids Realty Times

The following was a post we did in February of 2009.

Not much has changed in 1 year. We are expecting the

government to start incentives to banks and second mortgage

lenders to encourage the short sale process instead of

waiting for foreclosure.

Benefits:

1. House usually sells for a higher price
2. Credit of the seller is not affected for as long
3. Neighborhood is not affected as adversely

The term Short Sale has nothing to do with the time

it takes to close this type of transaction. It refers to the

money the bank or mortgage holder will receive from the

 sale of the property. The closing will be "short" of the

funds that the seller owes on the mortgage. In other words,

 they are upside down: they owe more than the home

is currently worth.

Since we don't live in a past world where the home "was" worth

more or a future world where it "may" be worth more, this is

the sad financial situation many reluctant home sellers find

themselves in today, selling at a loss. It doesn't make for

happy campers.

The Short Sale scenario usually doesn't have anything

or mismanaging money. Many of the cases we see are typical

families that bought a home, fixed it up a little, and then got

a job transfer, had a job loss, a divorce, a family death or

illness occurred which drastically changed their financial

situation.

The falling prices on homes  trap the homeowner.

He can't sell it for what he paid for it------ he has to take

 a loss, go bankrupt, or lose his credit rating. How many

people have equity in their home, or savings, or a 401K they

can borrow from to pay their losses? We see that occasionally,

but it is not the rule.

The banks and mortgage companies are in a difficult situation.

They are going to take a loss, no matter what happens. The object

 is to stall, wait, and negotiate until they get the best outcome

they can for their company's bottom line. Okay, companies stay

in business by minimizing losses.

But, and this is a big but, stalling, and prolonging these

transactions until the potential buyers walk away is hurting

everyone. Delaying a month, two months, three months on

answering a decent real estate offer hurts the bank, the seller,

the buyer, and the real estate agent. This kind of time lag is

typical of short sales. I have heard getting these transactions

to close as compared to " trying to land a 747 on a blade of grass. "

Real Estate agents don't like to get involved in these

transactions because they are prolonged, messy, tons of

paperwork, many, many frustrating phone calls, and at the end

 of the transaction, the bank or mortgage company will typically

"short" the commission the agent has worked for. This is another

 sticky wicket because the contract is with the seller, not the

mortgage lender. So, this has to be negotiated again, if you are

fortunate. If not, you take what they will give you.

Short Sales are becoming a much more common transaction

as banks are deluged with foreclosures and calls from homeowners

 requesting help. The recent * Recovery Act may be a relief valve,

 allowing some people to reduce their mortgage, save their credit

and their home. The first week of March the US government will

tell us what the parameters of their plan are going to be.

*Note:We have seen little effect from the Recovery Act yet.

Make sure your agent has the experience and knowledge to

 get you through the minefield of short sale negotiation, if

you are buying or selling.

The Ottawa Hills neighborhood in Grand Rapids has had major construction

going on all winter. The new Christian Elementary School is going up

on the old Ottawa Hills Middle School campus. You can read about the

beginning phases on an earlier blog. This campus will serve a large area

and is eagerly anticipated. It is scheduled to open in the Fall of 2010.

We took a few new photos so you can see how it is shaping up.

We could hear the air hammers working away inside.

Lots of machinery and building equipment in evidence.

The view from the northwest corner of the lot, near Alexander Dr. SE

The former playground was kept intact and their is plenty of open space.

This new facility will be located at: 1501 Fisk St SE

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We are very fortunate to have such a wonderful entertainment venue

in our Forest Hills Area. The fabulous Fine Arts Centers Shows this winter-

spring season have something for everyone. Not only the headlining events

like Amy Grant, and Whose Live Anyway, the local high school events are not

exactly the amateur events I remember from my school days. The musicals

 we have seen have had seriously talented young performers from our local

high schools.

There are still quite a few shows to catch this season. If you haven't

been to our fabulous gold star LEED performance center, you should stop by

and take a look. It is open every day from 8am to 5 pm with a featured

artist-in-residence work displayed in the lobby. This month, fiber artist

 Jo-Ann Van Reeuwyk displays vessels that explore the concept of

containment.

February 22 - Forest Hills Central -Evening of Percussion 7 pm

February 23 - Jazz Night 7 pm

March 11 - Cynthia Hagedorn Artist Reception - 6-7:30 pm

March 12-13 - Grand Rapids Balley Company Interactive 7:30 pm

March 25,26,27 - Forest Hill Central Musical - The Wizard of Oz - 7:30 pm;

+ 3:00 pm matinee Mar 27th

April 17 - An Evening with Amy Grant - 7:30 pm

April 18 - Grand Rapids Symphony - Percussion Explosion - 3:00 pm

April 20 - Forest Hill Public Schools K-12 Student Artists Reception, 6 - 7:30 p.m

Thursday, April 29, 2010 - Whose Live Anyway

May 26 - National Senior Health and Fitness Day, 9 a.m. - 3 p.m

June 3 - International Society of Experimental Artists' Reception, 6 - 7:30 p.m

Fine Arts Center

We volunteer at the Fine Arts Center and find it a very entertaining and rewarding way to give back to our community. We have ushered shows, taken tickets, handed out programs, placed posters and guided people to their seats. The Fine Arts Center is a part of the Forest Hills School System but must survive financially on its own, which means volunteers are vital to the program. Without volunteers, it wouldn't be possible to fund the shows and events that take place here to enrich the community.

As the inventory of existing homes seeks a new normal, we

find that the distressed properties are a big portion of our market.

Following the trends in this area can give us insight into the future.

The following chart shows how they affect our market every month.

And I see some encouraging information.

Percentage of Foreclosures/Short Sales of Grand Rapids sold properties.

Looking at the chart you can see that Foreclosures & Short Sales

control over 59% of our current market volume in January 2010 but

 the $ Dollar percentage is only 44%. I am guessing the dollar

percentage of total sales will increase over time so the short

sales and foreclosures will not have as much of an effect on

current traditional (non-foreclosure + short sale) sales.

Experts in the financial markets have written extensively about

 the increase coming in the foreclosure market, last month

figures were estimated to be 3 million or more homes that

 are facing foreclosure in U.S. in the next 6-12 months.

So, will a buyer always go for the distressed sale home

over the traditional sale?  Apparently not. We hear from our

buyer clients over and over that they:

DO NOT WANT TO DO REPAIRS or UPDATING. They want to

purchase a home and get on with their life - not devote 6

months to 12 months of their spare time and money on

painting, repairs and updating. If they can buy a home

that is in good condition and is a foreclosure or short sale

 home, great! But that is not usually the case.

We have seen that banks are starting to do basic repairs

 and updates before putting homes on our local market. What

a difference this makes to first time buyers who don't have

money for extra repairs and updates.

Winter fun is on the schedule in Ada Michigan this winter.

The following activities were published today:

Ada Township Parks & Recreation Department is hosting a series of

upcoming programs for youth & families to get outside & enjoy

the winter.

For Kids Ages 3-5, Discovery Days Program: Build a Bird Feeder

Tuesday, February 17, 10:00 a.m. – 12:00

Ada Park Learning Center, $4/youth

Designed especially for Pre-Schoolers along with a parent or guardian

to have a fun, educational adventure out in Ada Park. This session

will explore different birds and how they feed, making bird feeders

to take home and outdoor discovery hike looking for birds.

Come dressed for both indoors and outside activity.

For Kids Ages 7-12, Junior Naturalist Program:

Winter Survival on Snowshoes Saturday, February 20, 2010

10:00 a.m. – 12:00, Ada Township Park, $4/youth

Starting inside the Learning Center with tips and tricks on how to

prepare for winter outings. Followed by an outdoor winter

adventure where youth will be challenged to “survive” out in the

park by making a shelter, fire, finding food and signaling for help.

Come dressed to be outside in the woods.

Snowshoes and snacks provided.

For Kids of All Ages and Families: Birds of a Feather

– Part 2: nesting boxes

Saturday, March 6, 10:00 a.m. – 12:00, Ada Township Park,

$3/adults $2/youth

Meet in the Learning Center to learn about how different birds

need different types of nesting sites, habitats and materials.

Then work as a “team” to build your own nesting box (bird house)

suitable for local birds. Materials and tools supplied.

Pre-registration requested by Wednesday, March 3 by calling 676-0520 or email: mfitzpatrick@adatownshipmi.com. Pay on site.

Pre-registering is highly recommended for all Ada Parks & Rec.

programs by calling the Ada Park office at 616-676-0520 or email:

mfitzpatrick@adatownshipmi.com.

Payment of fees may be made on the day of the program.

Ada Township Park is located at 1180 Buttrick Drive

 in Ada, MI 49301. Contact the Ada Park office for more

details: 616-676-0520,

mfitzpatrick@adatownshipmi.com, www.adatownshipmi.com

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Statistics have proven for years that when buyers get in front

of the computer to start searching for a home, the questions they

 want answered are:

• How big is the house?
• How many bedrooms?
• How many baths?
• What is the price?

When we list a property and place it on the Multiple Listing Service

 we are competing with all the other 3 bedroom 2 bath homes listed for

 sale in Grand Rapids. Buyers typically bring up about 40 homes on a

search and look on-line at 20 of them in our Grand Rapids market.

The graph below indicates what are the top requirements to a

Grand Rapids home buyer Home Search:

What are buyers looking for when they search for a home?

As you can see from the graph above, this is the order of importance

buyers put in their home searches:

1. Square Footage
2. Bedrooms
3. Baths
4. Price
   

Price is number 4 behind Square Footage, Bedrooms, and Baths.

BUT Price is the ultimate point of competition.

They don't see the fabulous photos of your designer kitchen,

 the video tour, your wonderful photos of your "green thumb" garden

or the newly remodeled bathroom if your stats don't compare. If you

are not in the top 20 by Square Footage, Bedrooms, Baths, & Price,

maybe even the top 10 they don't even bother with clicking on the

 photos or details of your home.

Price is the only thing left when you have 40 similar homes

on the market competing for the same buyers. Supply and Demand

will continue to rule the real estate housing market in the foreseeable

 future, and Price Plays a Major Role.

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We attended an inspiring event sponsored by Rapid Growth Media

and Michigan State Housing Development Authority last night at

the Wealthy Street Theatre. This was the first in a year long series

of events. This premier event was called “Touting Michigan”.

Rapid Growth brought together 5 panelists that are each individually

promoting Michigan, our state economy and image, and doing

something positive about rebuilding our state.

The message was clear – We have to do it ourselves!

Panelists from left to right are:

Sean Mann from Let’s Save Michigan

John Bell from Michigan Awesome

Lisa Diggs from Buy Michigan Now

Kevin Buist from Michigan by Choice

Neil Yaremchuk from Made in Michigan

and Moderator Jennifer Pascua

From Neil Yaremchuk: If we buy just $10 worth of Michigan made

products every week, we would pump $37 million back into our local

economies. This means JOBS!!

Think Michigan First, Buy Local, and support your local businesses

and farmers.  It is actually cheaper and greener.

Why send our hard earned Michigan money elsewhere?

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Lots of controversy on a proposed wind farm in Lake Michigan about

1-2 miles off the West Michigan shore. Wind Farms are up and

contributing to the grid in Texas, Iowa, California, Washington, and

Minnesota, which are the top 5 wind power states. Wind power

grew by 39% in capacity over 2008, for a total of 35 gigawatts,

according to the American Wind Energy Association.

A proposed offshore Wind Farm that would cost $3 Billion dollars is

trying to get public support for its plan. The Scandia Wind Energy

LLC say it would create thousands of jobs, primarily constructing the

massive wind turbines in the waters of Lake Michigan just south of

Ludington. The company says that location is positioned to transmit

electricity to Chicago or Detroit areas perfectly.

A new jet engine wind turbine with 4 times the efficiency has interested

the DOE enough to give $ 8 Million in grants for further testing. The theory

is that it would take less electricity to power the turbines, so output would

be doubled. This could be the look of the future, with massive wind

turbines scattered over the countryside and in our Great Lakes.

Would these huge turbines intefere with Lake Michigan coastal traffic?

Would they affect the fishing industry? Would they be visible from the

 shore? There are lots of questions but there is no doubt that alternative

ways of making electricity are at the top of the list for utility companies,

environmentalists, and private citizens. Will the wind turbines be part

 of the solution to greener energy?

Update:

 The city of Grand Rapids is proposing putting two 300 foot wind turbines

on land they own in Grand Haven, on Lake Michigan to power their water

plant. If this project goes forward it would be the first of its type in

 Michigan.

Photos of Indiana Wind Turbines by Bonnie Westbrook

The New Remodeling Magazine is out with the annual Cost vs Value Report.

One of the most common questions sellers and buyers ask me is:

"Should I remodel or add on to my house?

Is adding another bathroom going to be money I can recoup when I sell?"

Even today’s buyers that are buying at 2000 or before price levels, need

to be smart about home improvements if they think they will be moving

in the next 10 years. It is always intriguing that some areas of the

country value some home additions more or less than others.

This report gives an estimation of the return and an approximate cost of

several common remodels, additions and rehab projects in the home. It

is specific to different regions of the United States.

2009-2010 COST vs VALUE REPORT

Since we are from Grand Rapids Michigan we have directed you to that page

but you can navigate to other areas of the country from there. We hope this

article is helpful in the decision making process, if you are considering a

home remodel or addition.

As always, feel free to call me about specific questions for your specific area.

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We have gathered a list of the TOP Rockford Michigan Houses

to buy, based on price per square foot. Price per square foot

is a great leveler. If two similar homes are listed at similar prices,

their price per square foot should be similar. The price should reflect

the interior finish of the home. For example, if it has crystal chandeliers,

marble tile, & a new kitchen, this would be more per square foot than

a home that still has the 1970’s decor and/or is in derelict condition.

Please note: This list can change daily as some homes sell, prices are

adjusted and other homes come on the market.

The homes listed below are probably dated and would need new

carpeting, paint, and kitchen-bath redos at a minimum to

bring them to current market standards. They might need major

repair work done, such as a new roof & mechanicals.

*Some of these homes may be bank owned foreclosures and

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

Check back often or just subscribe to our blog to get

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

The total square footage is noted here, although only the

main floors are used to figure price per square foot, even if

the basement is finished.

January 2010 30 Top BEST BUY Homes Rockford, Michigan.

The lowest list price is $ 44,900

The highest list price is $200,000

Lowest price/Sq Ft range from $32.10 to $73.58

The Top Rockford Homes to Buy by Price per Square Foot:

205 Hunters Lane $44,900 923 Sq Ft $48.65/SqFt

6485 West River Dr $53,900 1330 Sq Ft $40.53/SqFt

8555 Courtland Dr $59,900 1080 Sq Ft $55.46/SqFt

6711 Boca Vista Dr $63,999 960 Sq Ft $66.67/SqFt

5075 New Orleans Dr $65,000 2025 SqFt $32.10/SqFt

6757 Cannon Center $69,500 1250 Sq Ft $55.60/SqFt

6721 Boca Vista Dr $69,900 960 Sq Ft $72.81/SqFt

6681 Boca Vista Dr $69,900 960 Sq Ft $72.81/SqFt

229 Hunters Lane $74,900 1064 Sq Ft $70.39/SqFt

159 Cahill Dr $74,900 1008 Sq Ft $74.31/SqFt

3955 Butternut Dr $78,600 1184 Sq Ft $66.39/SqFt

6757 Cannon Cntr $79,500 1250 Sq Ft $63.60/SqFt

162 E Division St $79,900 1782 Sq Ft $44.84/SqFt

4837 13 Mile Rd NE $84,900 1300 Sq Ft $65.31/SqFt

5124 Surf Dr $89,900 1823 Sq Ft $49.31/SqFt

9700 7 Mile Rd NE $89,900 3020 Sq Ft $57.63/SqFt

8500 10 Mile Dr $90,000 1400 Sq Ft $64.29/SqFt

254 E Main St. $98,951 1732 Sq Ft $57.13/SqFt

2720 Rogue River $99,900 1600 Sq Ft $68.61/SqFt

8825 Castle Hill Dr $99,900 1641 Sq Ft $73.24/SqFt

7002 S Cannon Pl $103,900 1500 Sq Ft $69.27/SqFt

9875 Courtland Dr $104,000 2053 Sq Ft $71.58/SqFt

6452 Bella Vista Dr $114,900 1848 Sq Ft $62.18/SqFt

221 W Division St $119,900 3141 Sq Ft $37.89/SqFt

143 Courtland St $127,900 1920 SqFt $66.61/SqFt

7991 Cannonsburg $130,000 1864 Sq Ft $69.74/SqFt

4351 Porter Hollow $132,000 2000 Sq Ft $66.00/SqFt

6089 Meadows Ct $169,900 2610 Sq ft $65.10/SqFt

647 Highlander Dr $189,900 3050 Sq Ft $64.03/SqFt

7031 Bonaire Ct NE $200,000 3160 Sq Ft $73.58/SqFt

There are still bargains to be had in the Rockford area, there

are 20 listings under $100K. If you are thinking of

buying in Rockford, now is the time to be looking. Prices are

climbing in other areas of the Grand Rapids market. Homes

that are in great condition and priced right are selling quickly.

"Below tax appraisal" priced homes are disappearing from the

market in some areas of Grand Rapids.

Don’t overlook the $8000 tax credit for first time home buyers

or buyers who haven’t owned a home for the last 3 years; also,

up to a $6500 tax credit for existing homeowners until April 2010.

Rockford Michigan Real Estate Market Blogs

Rockford Michigan Video Tour

If you would like to view a Rockford Top Best Buys Home,

please contact us 1-888-240-1968 x 0

or email terry@terrywestbrook.com

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We have gathered a list of the TOP Lowell Michigan Houses

to buy, based on price per square foot. Price per square foot

is a great leveler. If two similar homes are listed at similar prices,

their price per square foot should be similar. The price should reflect

the interior finish of the home. For example, if it has crystal chandeliers,

marble tile, & a new kitchen, this would be more per square foot than

a home that still has the 1970’s decor and/or is in derelict condition.

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.

The total square footage is noted here, although only the

main floors are used to figure price per square foot.

Great opportunities to buy a Lowell Home at bargain prices;

the average price for this list is $124,353.

The lowest price/Sq Ft range from $24.94 to $79.35

in Lowell Top Best Buy Homes this month.

January 2010 33 TOP BEST BUY Lowell Homes

Lowest list price is $29,900

Highest list price is $200,000

The Top Lowell Homes to Buy by Price per Square Foot:

14129 Fulton St E $ 29,900 660 Sq Ft $45.30/SqFt

7595 Wingeir Ave SE $39,900 1600 Sq Ft $24.94/SqFt

225 S Jefferson St $47,500 1325 Sq Ft $35.85/SqFt

1012 E Main St $ 54,900 1510 Sq Ft $36.36/SqFt

512 Foreman St $ 59,900 760 Sq Ft $78.82/SqFt

261 Jane Ellen $ 59,900 912 Sq Ft $65.68/SqFt

13131 Vergennes St $ 59,900 960 Sq Ft $62.40/SqFt

222 S Division St $ 69,000 1300 Sq Ft $53.08/SqFt

242 S Hudson St $72,900 988 Sq Ft $73.79/SqFt

11675 E Bear Mdws $ 80,000 1026 Sq Ft $77.97/SqFt

906 N Washington St $ 82,900 1154 Sq Ft $71.84/SqFt

1043 Lincoln Lake $ 85,900 1600 Sq Ft $78.09/SqFt

1000 Lincoln Lake $ 98,900 2868 Sq Ft $59.61/SqFt

821 Lincoln Lake $ 99,900 1692 Sq Ft $59.04/SqFt

11250 Grand River $ 99,900 3327 Sq Ft $30.03/SqFt

2918 Snow Ave SE $108,900 2508 Sq Ft $72.21/SqFt

9070 Bailey Dr $109,900 1584 Sq Ft $69.38/SqFt

545 North St $109,900 1906 Sq Ft $57.66/SqFt

743 Grindle Dr $114,900 1606 SqFt $64.12/SqFt

7849 Pratt Lake $116,900 1568 Sq Ft $74.55/SqFt

506 Lincoln Lake $119,900 1511 Sq Ft $79.35/SqFt

1316 Sargent $124,900 2999 Sq Ft $67.30/SqFt

2022 Conservation Trl $124,900 1788 Sq Ft $69.85/SqFt

13445 Crestwood $125,000 1888 Sq Ft $75.85/SqFt

9595 5 Mile Rd NE $129,900 1754 Sq Ft $74.06/SqFt

11653 Barnsley $139,513 2040 Sq Ft $68.39/SqFt

10380 36th St $144,900 2288 Sq Ft $63.33/SqFt

11661 Barnsley $145,299 2174 Sq Ft $66.83/SqFt

11372 Trent Dr SE $154,878 2047 Sq Ft $75.66/SqFt

1638 Wales $159,900 2047 Sq Ft $78.11/SqFt

13950 84th St #3A $164,500 2640 Sq Ft $74.77/SqFt

219 N Washington $193,000 3106 Sq Ft $62.14/SqFt

13217 52nd St SE $200,000 2911 Sq Ft $68.70/SqFt

There are still bargains to be had in Lowell, there are 16

homes priced under $100K and 3 new construction homes

for under $130K.

Lowell Michigan Real Estate Blogs

*Some of these homes may be bank owned foreclosures and

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

If you have questions about any of these homes, please

contact Terry: 1-616-292-7263

Or email : terry@terrywestbrook.com

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We have gathered a list of the TOP Caledonia Michigan Houses

to buy, based on price per square foot. Price per square foot

is a great leveler. If two similar homes are listed at similar prices,

their price per square foot should be similar. The price should reflect

the interior finish of the home. For example, if it has crystal chandeliers,

marble tile, & a new kitchen, this would be more per square foot than

a home that still has the 1970’s decor and/or is in derelict condition.

The total square footage is noted here, although only the

main floors are used to figure price per square foot.

Lowest prices/Sq Ft range from $32.37 to $59.95 in Kentwood this month.

January 2010 19 TOP BEST BUYS in Kentwood MI Homes

The lowest list price is $ 29,900

the highest list price is $139,900

Top Kentwood MI Homes to Buy by Price per Square Foot:

7213 Regal Ave $29,900 750 Sq Ft $39.87/SqFt

126 58th St SE $32,900 772 Sq Ft $42.62/SqFt

426 Pine Vista St $45,000 1248 SqFt $36.06/SqFt

337 60th St SE $54,000 1457 Sq Ft $37.06/SqFt

3394 32nd St SE $54,900 1696 Sq Ft $32.37/SqFt

3685 Giddings Ave $59,900 1470 Sq Ft $40.75/SqFt

150 58th St SE $59,900 1007 Sq Ft $59.48/SqFt

453 Pine Place St $59,900 1248 Sq Ft $48.00/SqFt

155 Wavell St SE $70,000 1350 Sq Ft $51.85/SqFt

2097 60th St SE $70,000 1300 Sq Ft $53.85/SqFt

1620 Mapleview St $79,900 1900 Sq Ft $50.99/SqFt

5393 Newcastle Dr $80,000 2696 Sq Ft $44.92/SqFt

5818 Pinetree Ave $84,900 2200 Sq Ft $38.59/SqFt

3200 Brook Trail SE $85,000 1451 Sq Ft $58.58/SqFt

106 Regent St SE $89,900 1872 Sq Ft $48.02/SqFt

1260 54th St SE $118,800 3406 Sq Ft $57.87/SqFt

4658 Meadow Lk Dr $119,900 2000 Sq Ft $59.95/SqFt

3615 Kalamazoo Ave $124,900 2725 Sq Ft $45.83/SqFt

1889 60th St SE $139,900 2436 Sq Ft $57.43/SqFt

Kentwood & Wyoming have been hit hard by unemployment, auto-

motive plant shutdowns and loss of population. Short Sales are

extremely difficult for most home buyers to consider as a purchase.

Please keep in mind the time alone [3-9 months] of negotiating with

the banks makes it almost impossible for some buyers to consider.

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.

More Kentwood Michigan Real Estate Articles

*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 to view a Kentwood Top Best Buys Home,

please call 1-888-240-1968 ext 0 or email us at:

terry@terrywestbrook.com

All information is subject to verification & no liability for

omission or error is assumed.

We have gathered a list of the top East Grand Rapids Houses to buy

based on price per square foot. Price per square foot is a great leveler.

If two similar homes are listed at similar prices, their price per square

foot should be similar. It should reflect the interior finish of the home.

For example, if it has crystal chandeliers, marble tile, a new kitchen,

this would be more per square foot than a home that still has the

1970’s decor and/or is in derelict condition.

Please note that this list can change daily as some homes sell, prices are

adjusted and other homes come on the market.

The total square footage is noted here, although only the main floors

are used to figure price per square foot.

January 2010 – 22 TOP BEST BUY East Grand Rapids Homes

Lowest price/Sq Ft range from $62.80 to $119.88

Highest List Price - $ 450,000

Lowest List Price - $ 89,900

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

729 Gladstone DrSE $ 89,900 800 Sq Ft $112.38/SqFt

2361 Burchard St $125,900 1455 Sq Ft $109.00/SqFt

2258 Lake Dr SE $142,000 2261 Sq Ft $62.80/SqFt

159 El Centro Blvd $149,900 1848 Sq Ft $81.11/SqFt

1647 Franklin St $149,900 1392 Sq Ft $107.69/SqFt

847 Orchard Ave $159,900 1350 Sq Ft $118.44/SqFt

252 Hodenpyl Rd $164,500 1489 Sq Ft $110.48/SqFt

1530 Groton Rd $169,900 1694 Sq Ft $110.32/SqFt

2752 Robinson Rd $169,900 1532 Sq Ft $110.90/SqFt

1433 Edgewood Ave $179,900 1738 Sq Ft $103.51/SqFt

2937 Lake Dr $179,900 1602 Sq Ft $112.30/SqFt

1160 Conlon Ave $180,000 1889 Sq Ft $95.29/SqFt

1707 Hall St SE $189,900 2229 Sq Ft $108.33/SqFt

2840 Cascade Rd $209,000 2272 Sq Ft $116.63/SqFt

2150 Anderson Dr $209,000 3322 Sq Ft $75.29/SqFt

1747 Danby Lane $215,000 1951 Sq Ft $110.20/SqFt

1401 Pinecrest Ave $220,000 2350 Sq Ft $103.97/SqFt

1150 Gladstone Dr $240,000 4220 Sq Ft $102.56/SqFt

330 Fulton St E $263,000 3460 Sq Ft $106.05/SqFt

1245 Woodshire Ave $269,500 2248 Sq Ft $119.88/SqFt

1401 Breton Rd $349,700 3873 Sq Ft $102.85/SqFt

455 Plymouth Ave $450,000 3852 Sq Ft $116.82/SqFt

East Grand Rapids bargains have all but disappeared. Only one home

under $100K (it is under 1000 square feet) has been listed for the past

8 months.

If you have been waiting for the right time to buy, don’t wait much

longer. We are seeing definite signs of competition for homes in most

areas, like East Grand Rapids and Forest Hills. Homes in good condition

and priced appropriately are selling quickly.

*Some of these homes may be bank owned foreclosures and not habitable

as is or available for a mortgage in present condition.*

East GR Real Estate Market Blogs

If you would like to view an East Grand Rapids Best Buy Home,

please contact us @1-888-240-1968 x 0 or email us :

terry@terrywestbrook.com

U.S.News & World Report has published it’s ranking of Top High Schools

in the United States last month for 2010. Of the 21,00 schools in the country

considered, Michigan was ranked overall in 26th place, with 864 schools

ranked.

Of these, 324 were considered eligible for ranking and 75 made Gold,

Silver, or Bronze status. Twenty were awarded Silver or Gold Rank in

the state and of these, Kent County had 7 Open Enrollment High Schools

awarded Silver. Fifty Five high scbools in Michigan were awarded Bronze,

3 in Kent County.

Silver Award Schools:

City High-Middle School – Grand Rapids MI

Forest Hills Eastern High School- Grand Rapids - Ada MI

Forest Hills Central High School – Grand Rapids – Ada MI

East Grand Rapids High School – East Grand Rapids MI

Bronze Award Schools:

Kelloggsville High School – Grand Rapids MI

Lee High School – Wyoming MI

Lincoln School – Grand Rapids MI

We have gathered a list of the TOP Caledonia Michigan Houses to buy,

based on price per square foot. Price per square footis a great leveler.

If two similar homes are listed at similar prices, their price per square foot

should be similar. The price should reflect the interior finish of the home.

For example, if it has crystal chandeliers,marble tile, & a new kitchen, this

would be more per square foot than a home that still has the 1970’s decor

and/or is in derelict condition.

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.

The total square footage is noted here, although only the

main floors are used to figure price per square foot.

Lowest price/Sq Ft range from $39.96 to $89.49 in Caledonia.

January 2010 TOP BEST BUY Caledonia MI Homes

Highest list price is $249,000 Lowest list price is $44,800

The Top 19 Caledonia Homes to Buy by Price per Square Foot:

105 Johnson St SE $ 44,800 1121 Sq Ft $39.96/SqFt

3940 68th St SE $ 70,000 2247 Sq Ft $59.52/SqFt

8585 Acorn Ave SE $ 87,900 1282 Sq Ft $68.56/SqFt

7221 Kettle Lake Dr $106,900 1782 Sq Ft $59.99/SqFt

9628 Morse Lake Ave $132,000 2751 Sq Ft $56.17/SqFt

213 Johnson St SE $134,900 1942 SqFt $69.46/SqFt

6606 Buttrick Ave $139,876 2674 Sq Ft $88.08/SqFt

1648 Crescent Pointe $144,900 2047 Sq Ft $70.79/SqFt

4508 Rolling Ridge Dr $148,624 2070 Sq Ft $71.80/SqFt

1616 Crescent Pointe $158,500 2174 Sq Ft $72.91/SqFt

308 Elm St SE $158,500 2907 Sq Ft $88.20/SqFt

327 Johnson St $178,500 3000 Sq Ft $59.50/SqFt

8845 Whitneyville Ave $179,800 3000 Sq Ft $81.73/SqFt

8563 Haystack Rd SE $189,000 2112 Sq Ft $89.49/SqFt

8706 Alaska Ave SE $189,900 3121 Sq Ft $60.85/SqFt

7328 Patterson Ave $190,000 3227 Sq Ft $76.71/SqFt

8860 Vincent Ave SE $236,772 4272 Sq Ft $55.42/SqFt

10441 E Rivershore Dr $239,900 3095 Sq Ft $77.51/SqFt

9555 Kraft Ave SE $249,000 3216 Sq Ft $77.43/SqFt

Only 3 homes priced under $100K, we are starting to see prices

creep up and inventory go down, so if you have been waiting

for the best time to buy in Caledonia, don’t wait much longer.

The Buyers Tax Credit is available for First Time Buyers and

homeowners who have lived in their homes for the past 5 of

8 years only until April of this year. We don’t expect it to be

renewed and interest rates will likely go up. NOW is the best

time to buy a Caledonia home.

*Some of these homes may be bank owned foreclosures and

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

Caledonia Michigan Real Estate

If you would like to see a Caledonia Top Best Buys Home, please

contact me: 1-888-240-1968 ext 0

or email me at terry@terrywestbrook.com

We have gathered a list of the Top Best Forest Hills Houses

(Ada-Cascade) to buy, based on price per square foot.

Please note: This list can change daily as some homes sell,

prices are adjusted and other homes come on the market.

The homes listed below are probably dated and would need

updating with new carpeting, paint, and kitchen - bath redos

at a minimum to bring them to current market standards.

They might need major repair work done, such as new roofs,

new plumbing, electrical & other major mechanicals.

Check back often or just subscribe to our blog to get

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

The total square footage is noted here, although only the

main floors are used to figure price per square foot, not the

basement, even if finished.

The list of Top Best Buy Homes for January 2010 is 23 properties.

The lowest price/Sq Ft for homes range from $36.82 to $78.05 in Forest Hills.

The lowest list price is $54,900 and the highest list price is

$288,900 for January 2010 homes in Forest Hills School District.

This list could include properties in Ada Township, Cascade

Township, Grand Rapids Township, Lowell Township, and the

city of Kentwood.

WARNING: Some of these homes may be bank owned foreclosures, short

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

The Top Forest Hills Homes to Buy by Price per Square Foot:

8245 Fulton St E $54,900 1124 Sq Ft $48.84/SqFt

2657 Chatham Woods $63,900 1056 Sq Ft $78.12/SqFt

2695 Chatham Woods $64,500 820 Sq Ft $78.66/SqFt

2650 Knightsbridge Rd $ 64,900 845 Sq Ft $76.80/SqFt

2997 Chapshire Dr $79,900 1116 Sq Ft $71.59/SqFt

6217 Acropolis Dr $79.900 1316/SqFt $71.59/SqFt

6381 Wainscot Dr SE $80,000 1116 Sq Ft $71.68/SqFt

6351 Wainscot Dr SE $84,900 1116 SqFt $76.08 /SqFt

5505 Whitneyville SE $84,900 1536 Sq Ft $55.27/SqFt

2201 Shady Dr NE $90,000 2444 Sq Ft $36.82/SqFt

2049 Rowland Ave $ 99,900 1280 Sq Ft $78.05/SqFt

1791 Grand Ct NE $118,900 1600 Sq Ft $74.31/SqFt

1787 Park Trail NE $119,900 1600 Sq Ft $74.94/SqFt

1773 Park Trail NE $121,900 1600 Sq Ft $76.19/SqFt

4950 Knapp St NE $134,900 1890 Sq Ft $71.38/SqFt

6707 Adaridge Dr $139,900 1828 Sq Ft $76.53/SqFt

2328 Dean Lake Ave $149,900 2757 Sq Ft $54.37/SqFt

2309 3 Mile Rd $149,900 3340 Sq Ft $70.54/SqFt

3206 Oak Hollow Dr $159,900 2509 Sq Ft $63.73/Sq/Ft

6769 Woodbrook Dr $169,900 2247 Sq Ft $75.61/SqFt

4662 E Forest Dr $174,900 3212 Sq Ft $79.07/SqFt

5739 E Fulton St $254,900 4557 Sq Ft $71.16/SqFt

8801 Fulton St E $288,900 4132 Sq Ft $69.92/SqFt

More Forest Hills Michigan Real Estate Articles 2009

If you would like to see a particular Top Best Buys Forest Hills

Home, please contact us at 1-888-240-1968 ext 0 or email us at:

terry@terrywestbrook.com

We are on the front lines of property values in Grand Rapids real estate

 and were aware that this day would come. We have seen property

values fall from 15-30% in the past 3 years for local communities.

( Read our Blog post about home values)

The effects of this devaluation still has shock value for many living in

our local areas. We have watched poorer school districts struggle to

allocate funding with the financial news from Lansing being dire and

changing constantly. It has now started to hit our more affluent areas

and these parents are confused and angry.

See comments on this Mlive article about East Grand Rapids cutting their
budget with more cuts to come.

We attended the Forest Hills Superintendant’s meeting last fall

about a $10 million dollar projected shortfall in their 2010-2011

school budget.

They are not getting any definite answers from the state on what cuts

will be until after they set their annual budget ( This is truly bizarre but

the state government runs its own show).

Both East Grand Rapids and Forest Hills have fixed costs because of

teacher and staff contracts. Our understanding is that these are about

70% of the budget in Forest Hills. [See FHPS Funding Facts } Dan Behm,

the Forest Hills Superintendant told our group of concerned citizens

that if he eliminated transportation and sports, that there would

still be $3 million shortfall and he would have to look for another job

because of angry parents.

We don’t offer any solutions, but we do need to look at all items on

the budget. Nothing is sacrosanct, not teacher salaries, retirement

or healthcare. The same belt-tightening and elimination of non-essential

items that has affected business and personal budgets for the last 3 years

and longer in the state of Michigan is going to reduce funds for public services

in our state.

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FHPS Funding Facts

Current Real Estate Market Report Rockford Michigan ~2009

Current Absorption Rate for Rockford Michigan runs from 9.7 months

for lower end homes under $ 185,000, up to over 3 years for the

very upper end of the Rockford market.

The lower end of the Rockford market is moving faster than

higher priced homes for 2009. With interest rates likely to

rise in 2010 and with buyer tax credits disappearing after

the first quarter, long listing times in Rockford will likely

continue into 2010, with a decrease in prices driven down

by weak buyer demand.

202 Active Rockford MI Listings under $185,000

Absorption Rate : 9.7 months

Sold Rockford Homes: 248

Pending Rockford Homes: 36

Average sold price $ 131,004

High Sold price $185,000

Low Sold price $53,900

Average Sold Price/SqFt $94.50

Rockford MI Listings $ 185,000 - $ 349,000

Absorption Rate: 13.4 months

140 Active Rockford MI Listings

Sold Rockford Homes 114

Pending Rockford Homes 11

Average Rockford List Price: $ 232,848

Average Rockford Sold Price: $ 234,978

Average Sold Price/SqFt $ 119.03

High Sold Price $ 345,000

Low Sold Price $186,500

Rockford MI Listings Over $ 349,000+

Absorption Rate: 38.5 months

Active Rockford MI Listings 77

Sold Rockford Homes 20

Pending Rockford Homes 4

Average Rockford List Price $484,919

Average Rockford Sold Price $438,008

Average Sold Price/SqFt: $ 162.35

Inventories will probably increase with the spring market and

buyers will have their pick of the best homes for sale.

It is important that you have your home in great condition

and priced correctly. Over-priced homes and tired looking homes

will not sell for top dollar in this buyer's market.

If you have any questions about Rockford or

Grand Rapids MI homes, please contact me directly:

1-888-240-1968 ext 0

email: terry@terrywestbrook.com

Copyright 2009 All rights reserved

Photo of Rockford Public Library - Downtown Rockford by Bonnie Westbrook

Forest Hills (Ada Cascade) MI Real Estate Absorption Report

Forest Hills is actually a school district in Ada - Cascade MI. This market

is always active. These Grand Rapids suburban communities have

wonderful neighborhoods, some new and some older with Top Ranked

Forest Hills Public Schools, and private schools, such as Ada Christian

& St Roberts that attract many home owners.

This report will cover the 2009 real estate market activity, which we have

broken down into 3 separate price categories, which have very different

markets emerging for 2009 totals.

Forest Hills MI Listings $ 500,000+

Not much demand and lots of time on the market in the higher price

brackets of Forest Hills with a 24 month Absorption Rate, which

means it would take 24 months for the current inventory to sell.

Active Listings - 88

Average Price - $ 834,266

Pending - 1

Sold - 43

Average sold price: $ 684,349

Average Sold/Sq Ft: $198.52

Forest Hills MI Listings $250,001 - 499,999

The absorption rate for Forest Hills MI is 9.3 months, which means if no

new listings come on the market, it will take 9.3 months to sell the existing

$250K-499K homes at the current rate of sale. This rate is down significantly

from mid-summer rates, but sold prices are still inching downward. Inventory

is down slightly, but number of sales are holding fairly steady. We aren't back

to a normal market time of 3-6 months yet, but we are heading in that

direction.

Forest Hills MI Active Listings $250,000 - $499,999

Active Forest Hills Listings: 136

Average price of $358,876

Average price/square foot $160.53

Low price of $254,500

High price of $499,900.

Sold Forest Hills Listings: 152

Average sold price $334,883

Average Sold price/sq ft $ 137.17

Pending Listings: 23

Forest Hills Active Listings $50,000 - $250,000

The Absorption rate for Forest Hills homes in this price range is 5.47

months, which means that if no new homes enter the market, at the

current rate of sales, it will take 5.47 months to sell all current inventory.

This is down from last month, but still within normal range, a fast moving

area of the Grand Rapids real estate market.

Forest Hills Active Listings 145

Average Active Price $182,930

Average Active Price/SqFt $113.75

Average Active Days on the Market 120

High Active Price $250,000

Low Active Price $54,900

Sold Forest Hills Listings 266

Average Sold Price $ 167,044

Average Sold Price/sq ft $95.11

Average Sold Days on the Market 90 Days

High Sold Price $250,000

Low Sold price is $50,100

Pending Sales 29

Forest Hills RE Market Reports 2009

Forest Hills Michigan Public Schools Facelift 2009

If you would like specific information about an Ada Cascade or

Forest Hills MI Homes, please contact me directly.

Copyright 2009 All rights reserved

Photo of Forest Hills Eastern High School by Bonnie Westbrook