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How Has COVID-19 Affected the Real Estate Market?

Posted by on 6:31 pm in Market statistics | 0 comments

How Has COVID-19 Affected the Real Estate Market?

How Has COVID-19 Affected the Real Estate Market? I get this question a lot.  People are concerned about the real estate market because:We went through a time where we couldn’t show homes in person unless it was already under contract.Unemployment has been up and people need jobs to buy houses.Sellers are nervous that this means their value may have gone down, and buyers are eagerly expecting an easing in the market – maybe they don’t have to go in with full priced and quick offers like they did last year.Fortunately for sellers and the...

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Are we in a bubble?

Posted by on 4:12 pm in Buying a home, Market statistics | 0 comments

Are we in a bubble? In 2004, I was just getting into real estate. Those were days where prices were rising and things were moving quickly. And then, they weren’t. The real estate bubble burst. In 2006 we started to see inventory climb, and then in 2007 through 2012 we saw prices come down and down and down. In hindsight, everyone looks around at the warning signs and asks the question…. could we have seen this coming? If we had, would we do things differently? Now, in 2018, we are experiencing an even tighter inventory level than...

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2015 and how it compares to previous years

Posted by on 8:37 pm in Market statistics | 0 comments

2015 is behind us and this means a time of reflection on the year and also a time to look forward to the next year. I have a background as a CPA so I probably enjoy looking at the numbers more than most, but I do think that it’s interesting information for anyone who currently owns a home or is thinking of getting a home. So, I’ll try to keep it from getting too dry by just giving you the highlights: Just to give context: 2006 was the year before prices dropped, but sales really started slowing down and it set the stage for the...

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2013 numbers – a year in review

Posted by on 4:43 pm in Market statistics | Comments Off on 2013 numbers – a year in review

2013 numbers – a year in review It’s that time of year again! The time where I take a look at the numbers and see if we can make any predictions as to where things are going for 2014. One question that I get quite frequently is whether you should wait until spring to sell or not. Let’s look at the numbers and get a feel for that. This will help me answer the question as to if you get more money by waiting until spring. In 2013 the month that the most homes went under contract was May with 1,494 homes selling. Contrast this...

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Is now a good time to sell?

Posted by on 2:28 pm in Market statistics, Selling a home | Comments Off on Is now a good time to sell?

Is now a good time to sell? I get questions quite frequently that have to do with timing the market. “When is the best time to sell? Is it spring? Is now a good time to sell?” I can see why people ask about spring. Sales in the winter are down about 30% from what sales are in the spring and sumer. Does that mean that spring is the best time to sell? Yes and no. When sales are higher there is more speed to the market. There are more buyers out there. But, there are more sellers to compete with as well. The number of homes selling...

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2012 Market review

Posted by on 7:51 pm in Investing in real estate, Market statistics | Comments Off on 2012 Market review

2012 Market review Well, it’s that time of year again where I go a little crazy analyzing numbers. I started in 2004 and at that time I didn’t really look at numbers very closely to try to see where things were going. If I had I could have (at least somewhat, I don’t think anyone saw the depths that we were heading to) foreseen the trouble that we were heading to. 2006 had strong pricing numbers, but inventory numbers were increasing rapidly. 2007 and 2008 were the really bad years: foreclosures and distress sales went from...

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2011 – The Grand Rapids housing market so far

Posted by on 10:56 pm in Market statistics | 0 comments

2011 – The Grand Rapids housing market so far Here we are, just over halfway done with the year.  I like to take an in-depth look at the condition of the housing market at the mid-way point to keep my finger on the pulse of what’s going on and saw some good and some bad things.  Good news first. One thing that helps us to keep track of how fast homes are moving is the amount of inventory there is on the market.  We answer the question: at the current rate of sales, how long would it take for all of the current homes on the market...

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2010 year in review – the stats

Posted by on 11:09 pm in Market statistics | 0 comments

2010 year in review – the stats As you may already know, my background before real estate was a career as a CPA. So, this means that I am more into the numbers than others may be. Don’t worry, you don’t need to look through everything and do the analysis, I’m here for that! In 2009 the government was paying people to purchase homes by offering a tax credit. This was originally set to expire in October of 2009 but ultimately got extended until April of 2010. As you can imagine, when you used to get paid $8,000 to buy a...

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Half way through 2010 – how are we doing?

Posted by on 5:28 pm in Market statistics | 0 comments

For 2010 so far the average sales price in the greater Grand Rapids area was $112,887, which was up 14% from the average at this time last year of $99,067. This is great, right? Does this mean the value of my home went up 14%? If you want to skip all the detail numbers, I’ve summarized my conclusions in the last paragraph. To answer this question I went to look at the reason why the average sales price went up and think about the circumstances surrounding the results. The number of sales year to date was up over the number of sales for...

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Now that the homebuyer credit is over…..

Posted by on 9:11 pm in Market statistics, Selling a home | 0 comments

For the time period of January 1, 2009 through April 30, 2010 the government has been offering an $8,000 refundable tax credit to those who purchase a home for the first time (or at least recently) and then December 1, 2009 that credit was expanded to include a $6,500 credit to repeat homebuyers. So, for the last almost year and a half the government has literally been paying people to purchase houses in an effort to stimulate the housing market. Did they succeed? How do you measure a successful program? Did home sales increase? Absolutely....

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