The Brexit Effect on the Grand Rapids Market

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With Britain voting to leave the European Union, it has left the financial world in some uncertainty and turmoil. Has it had an effect on the Grand Rapids market?

Because of this, most institutions are dropping their mortgage rates, and that’s going to continue until at least December, according to the economists that I’ve read about. Because of the lower interest rates, there is going to be a refinance boom, so lenders’ pipelines are going to be quite full of people trying to take advantage of the moment.

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Homeowners are also taking advantage by refinancing.

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When it comes to our market in Grand Rapids, the effect we’re seeing is that buyer demand is staying high because access to money is good with incredibly low interest rates. Because of that, supply and demand will still push in the seller’s favor, even though our local market has kind of gone on vacation, so to speak.

As long as you’re in the price range of $150,000 and under, you’re going to be in really good shape. Because of vacation, some of the higher price ranges may struggle a bit.

Thanks for stopping by the blog today. If you have any questions about our market, feel free to give me a call or send me an email soon.

Where Are Grand Rapids Home Values Heading?

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It's time for yet another Grand Rapids market update! Today, I want to share the latest trends in our area and what they mean for you.

Recently we've seen some of the buyer anxiety tail off in the last couple months, as some buyers left the area for vacation or stopped looking, which resulted in a more open market. However, some market segments are very hot right now; in fact, I recently had a listing that received 12 offers.

Despite certain trends in favor of buyers, we're still in a seller's market. If you've been thinking about selling, once you prepare your home for the market, you shouldn't have trouble selling quickly and for top dollar.

If you have questions about the current market or where it's heading, don't hesitate to reach out to me. I would love to help you in any way possible!

Who Should You Trust When Seeking a Loan in Grand Rapids?

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There are many myths surrounding the lending industry, so today we thought we would do something to combat a prevalent one: the myth that all lenders are the same! 

There is a huge difference between working with a large national bank and a local bank. Typically, when working with a local or regional bank, you will have more direct contact with the underwriters, who are more familiar with the local paperwork: purchase agreements, addendums, contracts, etc. They simply know the process a little bit better!

All banks do not have the same rates and fees. I've seen banks vary by as much as half a percent in interest rates on the same day! We suggest shopping around and contacting a few local banks. The process will generally go a lot smoother once you've explored all your options and found someone you're comfortable with!

If you have any questions about the benefits of working with a local lender, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to help you make the most of your real estate venture! 

Is Now the Time to Get Top Dollar for Your Grand Rapids Home?

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Selling a home? Click here for a FREE Home Price Evaluation 
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Although summer hasn't officially hit Grand Rapids, the market is already pretty hot! Inventory is incredibly low, and the buyers are out in full. In fact, in some areas, we have less than a month's worth of available inventory! This is causing prices to rise, which has greatly benefited the few sellers in the market right now!

If you have considered selling your home, now is the time to list! Your home may be worth a whole lot more than you think, as there is a high demand for great homes in this market! If you are curious about the value of your home, or if you would like to discuss your options, give me a call or shoot me a quick email. We would love to help you make the most of this fantastic market! 

How to Increase Your Curb Appeal

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A lot of people here in Grand Rapids have been asking me how they can boost their curb appeal. We've moved from winter to spring, so now is the time to start thinking about this before you list your home for sale. 

• Replace your exterior lights to give your home an extra glow. Buyers love well-lit homes.
• If your front door is a bit old, now would probably be a good time to replace it with a new one. This tends to set a good first impression with a buyer.
• Also remember to declutter.

• What I mean by this is that you need to rid your home of unnecessary distractions like collections, awards, trophies, artwork, or anything else that will distract the buyer inside of your home. Your home should look like it came out of a magazine.
• A good rule I use is that roughly 50% of the things on your shelves should be taken down and stored elsewhere for a good decluttering. You want your home as clean and neat as possible. 
• Kitchens and bathrooms are key. Potential buyers like to see updated kitchens and bathrooms. Usually kitchens are major selling points, so be sure to highlight all of the positive aspects of your kitchen. Remodeling doesn't always add value to your home, but usually repairs to kitchens and bathrooms pay off in the long run. It doesn't mean you need to spend $10,000, but you'll want it to look good.

Hopefully these tips can aid you when you list your home for sale this spring. If you need any extra help, please contact us and we can refer you to a good home stager.

As always, if you have any questions about the real estate market in Grand Rapids, please be sure to contact my team. We're always happy to help you!