Grand Rapids Real Estate Prices Have Hit Bottom


Grand Rapids Real Estate Market Projections and Speculations

Grand Rapids Real Estate A recent Homegain survey of Realtors from around the country speculates that house prices have hit the bottom, or will in the next 6 months. But this is Michigan so I will wait on my own observations before I jump the gun. The Grand Rapids real estate market is showing more activity but it is still too soon to tell if home prices have stopped dropping. I think it’s clear though that prices will not be rebounding at the same pace that they dropped. Once the Grand Rapids market stabilizes I expect to see a slow and gradual increase in house values … and that is fine with me.

About half of all real estate agents surveyed expect home prices to stay the Grand Rapids Real Estate Marketsame in the next six months, 29 percent expect them to drop, and 22 percent believe they will increase. *84% of agents surveyed believe their clients’ homes lost value last year, while 12 percent say values had stayed the same. Only 3 percent believe homes had gained value. Interestingly, 69% of sellers disagreed and thought their home was worth more than the agent suggested. 35% thought their home was worth 10 – 20 % more than suggested. In the end, market value is established by what the buyer is willing to pay for a home.

In the current Grand Rapids Real Estate housing market, I have been busier than I have ever been with many inquiries from all over. The beauty of having one of the top websites in town is that I have a great opportunity to see what buyers are looking for as many local and out of state buyers come through my website first. It puts me in the unique position of offering something extra to my clients who are looking to sell their home.

Grand Rapids Real Estate For Sale On of my recent listings sold in 7 days. That was a combination of aggressive pricing and good marketing. As always in this type of market, where there are many similar listings, buyers will be price shopping. So your listings needs to be priced aggressively, marketed well with good internet exposure, professional quality photos and it must be in showroom condition. Showroom condition does not mean all new appliances and furniture. What it means is clean, uncluttered and a fresh coat of paint won’t hurt either.

For more information about the Grand Rapids real estate market and to search for homes online, visit my website or contact me any time. If you have a home or condo to sell, click here for more information.

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