Why NOW is a good time to buy in West Michigan
First, let me preface. It is still a sellers market, BUT the market does soften a bit in the Summer, especially June. I get it, buyers are worn out from the craze of the Spring season and just want to enjoy the lake, holidays, pontoon rides, vacations…
There are currently 178 available single family homes in Grand Rapids listed for under $500k, that have been listed for 7 days or more… 70 of these properties are listed between $220k and $350k, and of those 54 have been listed for TEN days or more.
What an incredible opportunity in our beloved city that continues to rank as one of the hottest housing markets in the United States! Some properties are not selling over the weekend, and while they may need cosmetic work and updating, wouldn’t you rather put the money you had aside for an appraisal gap difference (which is equivalent to paying cash for the overage of what your home is “worth”) into something that increases your home value? Can you imagine that you may also be able to have a refundable EMD, reasonable inspection periods and might, just might, even get the seller to pay some of your closing costs? Not to mention with these updates you’ll be able to make the home more truly yours, picking out colors, textiles, floorplans, landscapes…
Now is also a good time to buy for anyone who had interest in investing in the market but wanted to get the best deals possible (in an already ultra competitive market). Again in Grand Rapids, there are currently 21 condos available under $200k, and 18 2-4 unit’s under $300k that have been listed for more than 10 days.
Wouldn’t you want to move when it’s nice and sunny and dry anyways? Compared to tromping leaves or snow through your new house?
Some food for thought. I’m around this Summer and happy to get out and about shopping.