Driving Demand for Home Building in Grand Rapids, Michigan
Those surviving on low-income are driving the demand for home building in Grand Rapids, but indirectly. The MSHDA, Michigan State Housing Development Authority, comes in to give the businesses looking to expand a push in the right direction. Through a LIHTC, Low-Income Housing Tax Credit towards the property tax a business can make serving the […]
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What the MSHDA Is Doing for Real Estate Projects in West Michigan
We can say the housing market looks great but until the people who need houses have houses it’s not a great market for the market, the people. The method of calculation for a market-rate house is unclear. It appears clear to a family when affordable isn’t. The demand for affordable housing remains high all over Michigan, says the MSHDA. Michigan […]
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Bridging the Gap Between Buyers and Builders in Grand Rapids, MI
If you are from the U.P. you call those residents under the bridge trolls. If you are from Grand Rapids you know we don’t have real rapids, and we aren’t really trolls. We have lots of bridges though: 6th street bridge, Gillette Bridge, the (rainbow) Blue Bridge, Fulton Street and the old railroad bridge with Punk Island, and maybe […]
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What Kind of Home Buyer Are You in Today’s Market?
You’d be surprised to know that in our current market there are many different kinds of home buyers (and consequently, home sellers). This should tell you something — that the market’s largely dictated by who you are. And if you don’t know who you are as a home buyer, you’re basically jumping into an ocean without a life […]
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Why the Baby Boomer Generation Is Still Booming in the Real Estate Market
It’s true, believe it or not. We’re guessing the real estate market is still so vibrant as mentioned here that even baby boomers from back in the ’80s and ’90s are still very much active when it comes to home buying. And they should be. Prospects are good. Why not take advantage of it?
There Are Four Aspects of This Market for Baby Boomers to Keep in Mind, Though
- Mortgage Financing — You’d be surprised to see that baby boomers actually have the same kind of challenges that even millennials have. Read this.
- Buyer Characteristics – This piece will blow your mind as to what really makes a baby boomer in today’s real estate market.
- House Hunting Styles – What makes a baby boomer tick when trying to find a new home? These stats may be eye-opening.
- When Selling a Home – The question of why a baby boomer’s selling (and consequently buying or renting even) is crucial to ask. What’s the answer? Click here.
There’s so Much More to It Than That
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7 Statistics Proving Why Trends Lead to Home Buying Today
So we’re sure you’ve read somewhere in the blogosphere the fact that the national real estate market’s exploding for obvious reasons (opinionated, yes, granted) and that even foreigners are taking a major interest in, say, a certain Lone Star state (granted, it’s only one state out of the entire country). Keep in mind this important fact […]
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Selling Homes in the East Coast — the Latest Rage in Real Estate!
You don’t have to be a real estate guru to know that the east coast so-called “blue” states over there are all about the real estate, real estate, real estate. Without a doubt, that’s where the market’s cutthroat, and it’s like a game of inches and timing. You strike when the iron’s hot, and you hope for some ROI in the process.
Thankfully, we have some good news for you: the entire national real estate market seems to be looking pretty good, primarily for home sellers, as home prices begin to skyrocket clear across the board –
But Just in Case You’re in One of These States, You Have to See These Numbers
Bear in mind that as a home seller, if you want some ROI for major investments you’ve made to your property and you’re looking to move out, you’ll want to wait until you start seeing these numbers. These are predictions. But as the real estate market continues to flourish as we see here, there’s no doubt that these predictions will shortly become realities. So let’s take a look:
- Florida – Sort of hard to believe given the real estate risk, but with these types of oceanfront properties always going like hotcakes, it’s no wonder that we may be seeing this home price spike.
- Georgia – The Peach State isn’t too bad either with this type of growth.
- South Carolina – And don’t discount SC at all with their percentage.
- North Carolina – Double ditto.
- Virginia – All we can say is ‘wow’ as we feast our eyes on this percentage. If you’re living in this state, you’re swimming in the ROI possibilities.
- West Virginia – And WV isn’t too shabby either.
- Washington D.C. – Land of the Free, Home of the Growing Prices in the District of Columbia.
- Maryland – How’s this for a sweet percentage of increasing home prices?
- Delaware – And Delaware isn’t hurting much either, staying pretty steady on the East Coast.
- New Jersey – It’s the place to be for home selling, apparently, with this percentage.
- Pennsylvania – And so is Philly while we’re on the topic!
- New York – Take a bite out of the Big Apple and other “fruits” with this hefty forecasted number.
- Connecticut – This little state? Making home price waves on the East Coast? The short answer is YES.
- Rhode Island – The tinier state here even rocks real estate with this home price growth percentage.
- Massachusetts – It’s even better here? See for yourself just how good this state’s home price numbers will climb.
- Vermont – One of the top three states in the nation with the highest growth in home prices. Want to see the percentage?
- New Hampshire – Ditto as well. Check it out.
- Maine – Even those cold Eskimos in Maine will be loving the growth there.
Crazy, Right? Crazy Good!
Call that a touchdown if you will for real estate. This is a clear sign that, slowly but surely, our real estate market’s looking better and better.Read More →
Millennials: the Next Rage in Home Buying. What Kind of Homes, Though?
It’s hard to believe, but it’s true: millennials in our real estate demographic for home buying have already been putting their stamp in the market share, which is a good thing for the industry. We’re not going to see a real estate explosion quite yet, though, given the record low numbers of mortgage applications among millennials (and a consistent high growth for home renting) due to lack of job growth, student loan debt, and a later timeline for marriage and new families.
But It’s Coming. Some Say the Millennial Generation’s Already Here for Real Estate Home Buying
What you need to know, though, is what exactly they’ll be looking for in terms of a home…. Keep that in mind. Because of the inventory of available houses aren’t there; those millennials aching for a home to buy, well, won’t buy – which is bad for real estate business.
Here’s what millennials will want in a home (and you certainly won’t need any Gray’s Sports Almanac to figure this one out):
- They’ll Want to Focus on LESS – Less, as in less ‘possessions’. What does that mean, exactly? Find out right here.
- They’ll Want a “Hip” Community – But why? Why does it matter if the neighborhood’s all about fun and games for everyone? Here’s why.
- Convenient Commute – Cars? No. Find out why millennials these days really don’t care about getting that auto loan for a hot sedan.
- Rent-to-Own – Aside from the fact this demographic for RTO homes has already imploded on the market, here’s the big reason why millennials love the idea of flex rental options like this.
- “Can You Hear Me Now? Good!” – Think about it. We’re in the day and age where cell phone reception is the millennial lifeblood. What does that have to do with a home, though?
- Eating on the Go – These are the home buyers without families, for one thing. So what’s the one thing they won’t be looking for in a home that should hit you on the head the most?
- A Home Business Space – Again, it’s about convenience, and here’s why millennials would love this idea.
- “Pet-Friendly” Environments – Did you know millennials are very much into pets these days? This is why you need to have an inventory that provides this type of amenity for that demographic.
- “Turn-key” Maintenance? – You heard right. In other words, those millennials want homes that are REALLY updated in terms of all utilities and appliances. Here’s why.
- Party Spaces – You wouldn’t need to be a rocket scientist to know that those millennials would love to entertain guests. But they’ll need this feature in a home to do it.
This is getting heavy, Doc….
We’ve Got You, However, on This Real Estate Market
Preparation. That’s what it’s all about. Whether it’s home staging or a real estate agent who can access all the available homes, RTO or not, with all the correct features millennials are going to want. Because when they buy, people sell. Home improvements, renovations, maybe even new construction – the new millennial generation may drive this focus in.
So let’s align with it. And make the real estate market ready for the future (and flying DeLoreans). Sign up for more information with the HOPE Program today!Read More →