Forest Hills Michigan Absorption Report Dec 208 ~ Ada Moorings

Posted on December 30, 2008 by Terry & Bonnie

Ada Moorings is located off Grand River Drive, just east of Ada

and close to Ada Township Park. A recent development by

Eastbrook Builders, these quality built homes are in Forest

Hills Public School District. Close to the village of Ada and not

far from the village of Cascade,this subdivision is near 28th

Street shopping, the Thornapple and the Grand Rivers.

Ada Moorings Market Report October 2008

7 For Sale, 9 Sold, 1 Expired

Ada Moorings Active Listings: 7

Ada Moorings average active price – $248,486

Ada Moorings average active price /SqFt – $ 126.50

Ada Moorings average days on market – 115

Ada Moorings SOLD Listings: 9

Ada Moorings average sold price – $ 243,322

Ada Moorings average sold price/SqFt – $ 125.69

Ada Moorings average sold days on market – 88

The Absorption Rate for Ada Moorings Homes is 9.3

months, which means if no new listings come on the

market it will take 9.3 months for the existing homes

to sell at the current rate of sales.

The average list price has dropped $20,000 in the last

quarter of the year, which means sellers are much closer

to the actual market price than they were before.

The average sale price has dropped about $4000.

Ada Moorings Market Report Oct 2008

Ada Moorings Market Report Sept 2008

Ada Moorings Market Report Aug 2008

Ada Moorings Market Report July 2008

Ada Moorings Market Report June 2008

If you would like further information about the value of your Ada or

Grand Rapids Home, please contact me directly.

Grand Rapids MI Real Estate – Five Star Real Estate

photo of the Grand River in Ada by Bonnie Westbrook

Ada MI Absorption Report ~ Dec 2008 ~ AdaWoods Homes

Posted on December 29, 2008 by Terry & Bonnie

Ada Woods is an established development of homes in Ada, Michigan,

just west of Ada and south of Fulton Street (M46). Ada Woods started

out as an E.L. Ladd development, but towards the end of the project

many lots were sold to other builders and completed by individual owners.

The dates of building range from 1980’s to 2005. Most of the homes

have more square footage and more amenities than Adacroft Commons,

its adjacent neighborhood. As with Adacroft Commons, there is designated

common land in the development that remains heavily wooded and in a

natural state. This development is in the Forest Hills School System and

close to several private schools.

Ada Woods Real Estate Absorption Report

December 2008

6 Sold, 4 For Sale, 8 Expired

Ada Woods Active Listings: 4

Ada Woods Average Active Price – $ 332,425

Ada Woods Average Active Price/SqFt – $132.53

Ada Woods Average Days on Market – 149

Ada Woods SOLD Listings: 6

Ada Woods Average Sold Price -$ 313,567

Ada Woods Average Sold Price/SqFt – $121.37

Ada Woods Average Sold Days on Market – 119

Ada Woods Expired Listings: 8

Ada Woods Average Expired Price – $ 300,900

Ada Woods Average Expired Price/SqFt – $ 132.48

Ada Woods Average Expired Days on Market – 158

MARKET SYNOPSIS: As you can see by the numbers, average sold

price has lowered about $ 27,000. The average asking price has lowered

a tiny bit, but not enough to get buyers off the fence. The expired number

is up which tells me that some sellers have given up trying to get their

asking price.

If you don’t have your Ada Woods home priced about $ 120.00 a sq ft,

you will be waiting for a stronger sellers market to sell your home.

Ada Woods Market Report June 2008

Ada Woods Market Report July 2008

Ada Woods Market Report August 2008

Ada Woods Market Report Sept 2008

Ada Woods Market Report Oct 2008

Ada Woods Market Report Nov 2008

If you have any questions about Grand Rapids or Ada Homes,

please contact me directly.

Grand Rapids Ada MI Real Estate – Five Star Real Estate

Headley St in Ada Mi photo by Bonnie Westbrook

Grand Rapids MI Absorption Report ~ Jan 2009 ~ The East Village

Posted on December 29, 2008 by Terry & Bonnie

The East Village subdivision off Ada Drive in Ada Township is a fairly

new development. The new housing construction started in 2005 and

is still continuing to date. You can buy a resale home or a new home

in this centrally located housing development. Near both public and

private schools, East Village is also close to Forest Hills and 28th

Street shopping areas. The Ada Bike or Walking Trail also connects

this area on Ada Drive with the village of Ada, Grand Rapids, and the

village of Cascade.

East Village is also close by the expressway for easy access to many

different parts of our greater Grand Rapids area. Large,

executive style homes with many amenities and extras are the rule in

this neighborhood. If you would like to start with a brand new house,

this may be the place for you to call home.

Real Estate Market Report East Village January 2009

For Sale: 7

East Village Homes average list price: $ 456,943

East Village average price/sqft (main floor): $ 166.49

East Village average days on the market: 29 days

Sold: 10

East Village SOLD homes average price: $ 464,900.

East Village SOLD homes average price/sqft: $161.71.

East Village SOLD homes average days on market: 86 days

Expired: 9

East Village expired homes average price: $441,933

East Village expired homes average price/sqft: $167.66

East Village Homes are selling, if priced correctly. Buyers are

paying about $160/SqFt on the main floors.

The absorption rate for East Village is 8.4 months, which means

if no new homes enter the marketplace, it will take 8.4 months

for the current home inventory to sell. If you don’t need to sell

your East Village home now, I would recommend you take it

off the market. Overpriced homes are not selling.

East Village Market Report December 2008

Forest Hills Market Report November 2008

If you would like further information about East Village, Ada, or

Grand Rapids Homes, please contact me directly.

Grand Rapids Ada Real Estate – Five Star Real Estate

photo of Ada Bike Trail by Bonnie Westbrook

Grand Rapids MI Absorption Report ~ Dec 2008 ~ The Watermark Residences

Posted on December 29, 2008 by Terry & Bonnie

The Residences at Watermark are located on Watermark Golf

Course just south of Cascade Road. If you don’t like golf,

get defensive when a stray golf ball rolls into your “yard” you

probably would be better off not buying a home or condo

at Watermark. Of course you would be missing out on the

best golf course in Grand Rapids (no prejudice here, just

the facts, folks)

Yes, I play Watermark golf course every chance I get. Watermark

is a premier course with a friendly group of players. We have an

excellent grounds staff and a great pro shop staff.

Watermark single family homes and condos make this a very attractive

place to live. Quality built homes with access off Cascade Road and

Spaulding Drive, you are close to the airport, 28th Street shopping,

I96 expressway and close to Cascade, Ada, and Forest Hills

schools and shopping areas.

Watermark Residences Entrance

Watermark Residences

December 2008 Real Estate Market Report

For Sale:

There are 8 active Watermark Homes currently on the market.

The average Watermark Homes current active price is $ 777,888.

The average Watermark Homes current price per sq ft is $ 230.96.

The average days on the market for active Watermark Homes is 84.

The high price is $ 2,700,000 and the low price is $ 179,800.

Sold:

There have been 6 Watermark Sold Homes this year.

The average Watermark Sold Homes price is $ 500,333.

The average Watermark Sold Homes price per sq ft is $191.68.

The average days on the market for Watermark Sold Homes is 71.

Pending: 1

At the current rate of sales, we have a 13.6 month supply of homes on

the market at the Watermark Residences.

If you would like further information about Watermark,

Cascade or Forest Hills Homes, please contact me directly.

Watermark Residences November 2007 Market Report

Watermark Residences October 2008 Market Report

Watermark Residences September 2008 Market Report

Watermark Residences August 2008 Market Report

Watermark Residences July 2008 Market Report

Watermark Residences June 2008 Market Report

Watermark Country Club ~ Pool Time

Grand Rapids – Ada Real Estate – Five Star Real Estate

photo of Watermark Residences Entrance by Bonnie Westbrook

Ada MI Absorption Report ~ Clements Mill ~ Dec 22, 2008

Posted on December 22, 2008 by Terry & Bonnie

Clements Mill is a newer home development built by EastbrookConstruction in the Ada MI area, started in 1999 and completed in2003. Apart from newer homes, part of the appeal is the proximityof Forest Hills Central Middle and High Schools, Forest Hills Woodlands 5/6 School, St Roberts & Ada Christian Schools, whichare within walking distance.Clements Mill is midway between the Village of Ada and Forest Hillsshopping area at Cascade Road and Forest Hills.Ada’s Clements Mill has seen steady to declining values in the shorttime it has been built out. This is largely due to the current overabundance of houses for sale in a soft resale market. Clements Mill Residential Real Estate Market Report December 2008

22 Sold, 2 Pending, 2 For Sale, 10 Expired The Absorption Rate for Clements Mill Ada Township MIis 1 month, which means if no new listings come on the market,it will take 1 month for the current homes inventory to sell atthe existing sales rate. Clements Mill Active Listings December 2008: 2Average Active Price: $182,400Average Active Price/SqFt: $105.12Average Active Days on Market: 230Clements Mill Sold Listings December 2008: 22Average Sold Price: $271,531Average Sold Price/SqFt: $122.07Average Days on Market: 116Clements Mill Expired Listings: 10Average Expired Price: $283,300Average Expired Price/SqFt: $ 131.99Average Expired Days on Market: 139 Clements Mill Market Report Nov 2008Clements Mill Market Report Sept 2008Clements Mill Market Report July 2008Clements Mill Market Report June 2008 The Ada area growth trends remain strong. Ada Township planner,Jim Ferro states that the Ada population has grown by 20% since2000. There is a new proposed 80 condo units – Villas of Adaand Stone Falls of Ada – a 210 unit apartment complex, currentlyopen & under construction here. The Stone Falls of Ada apartmentproject is adjacent to Clements Mill. Both are scheduled for completion by spring 2009 but are open for business now. If you have detailed questions about Ada Homes, Forest Hills Homes orjust need further information, please contact me directly.Grand Rapids Ada MI Real Estate Five Star Real Estate LLCCopyright 2008 All rights reservedAda Drive Walking Trail Photo by Bonnie Westbrook

Forest Hills Michigan Absorption Report ~ Dec 19, 2008

Posted on December 19, 2008 by Terry & Bonnie

Forest Hills Real Estate Market Report

Forest Hills is actually a school district in Ada Cascade MI. This market

is always active. These Grand Rapids suburban communities have

wonderful neighborhoods, some new and some older with prestigious

Forest Hills Public Schools, and private schools, such as Ada

Christian that attract many homeowners.

This report will cover the Sept 1 to Dec. 18, 2008 real estate market

activity.

Forest Hills Eastern High school Ada Township MI

Forest Hills MI Listings over $300,000

The absorption rate for Forest Hills MI is 14.95 months, which means

if no new listings come on the market, it will take 14.95 months to sell the

existing homes at the current rate of sale.

There are 228 Active Forest Hills Listings in the over $300,000

category with an average price of $667,231. The Active Listings have been

on the market for an Average of 158 Days. The Average price per square

foot of Active Listings is $205.66 with a low price of $300,000 & a high

price of $2,700,000.

There have been 68 Sold Forest Hills Listings in the over $300,000

category with an Average price of $475,118. The Average Sold price per

square foot is $ 161.62 with Average Days on the Market at 122. The lowest

sold price is $319,000 & the highest sold price is $785,000. There are 24

Pending Forest Hills Listings in this category.

Forest Hills Listings $100,000 to $300,000

The Absorption rate for Forest Hills homes in this price range is 8.1

months, which means that if no new homes enter the market, at the

current rate of sales, it will take 10.9 months to sell all current inventory.

There are 202 Forest Hills Active Listings in Ada -Cascade with an

Average Price of $209,692.

The Average Active Price per Sq Ft is $120.82

and the Average Active Days on the Market are 115.

The High Active Price is $300,000 and the Low Active Price is $109,900.

There have been 74 Sold Forest Hills Listings in the last 4 months. The

Average Sold Price is $194,174 with the Average Sold Price per square foot

at $106.64. Average Sold Days on the Market is 121 Days. The high Sold

price is $299,900 & the low sold price is $104,500. There are 25 Pending

Sales in this category.

Market Synopsis: Although the absorption rate is one of the lowest in

the area, for the under 300K homes, there seems to be a disconnect

between sellers and buyers price expectations.

Average list price has risen, while average sold price has lowered in this

price category. If you have your home listed, you just might be chasing

the market down. This is not an effective way to market and sell your home.

Average Sold prices for the over 300K price group has fallen about $20K

since last month.

If you find yourself in this category, you will need to price your home for

the buyers market we are currently in. Overpricing the market is a huge

mistake. If you don’t need to sell, please consider taking your home off the

market, now is not the time to test the waters.

Ada Cascade Market Report October 2008

Ada Cascade Market Report Sept 2008

If you would like specific information about an Ada Cascade or

Forest Hills MI Home, please contact me directly.

Grand Rapids Ada Real Estate Five Star Real Estate LLC

Photo of Forest Hills Eastern High School by Bonnie Westbrook

Grand Rapids MI Real Estate Market Report Nov 2008 – Ada Woods in Ada Township

Posted on December 2, 2008 by Terry & Bonnie