Grand Rapids Absorption Report Dec 2008 ~ Quail Crest Condos

Posted on December 31, 2008 by Terry & Bonnie

The Quail Crest Condo development is located west of Spaulding

and north of Burton Street in Cascade Township. There is an

entrance off Spaulding Avenue and off Burton Street. This condo

development was started in the late 1980’s and continued building

into the late 1990’s.

The condos are spacious with cathedral ceilings and many have

finished lower levels with extra bedrooms and baths. This area

has been very attractive for retirees, as they are close to all the

local amenities and shopping but no house maintenance. Forest

Hills Public Schools are the school district, Watermark Country Club,

Forest Hills & 28th Street shopping are a short distance away.

The miles of Cascade-Ada Bike/Walking Trail

connects to downtown Cascade, downtown Ada, and 28th St.

Quail Crest Condominiums Real Estate Market Report

December 2008

3 Sold, 10 For Sale, 5 Expired

Quail Crest Condos Active Listings: 10

Quail Crest Condos Average Active Price – $154,125

Quail Crest Condos Average Active Price/SqFt – $ 109.11

Quail Crest Condos Average Active days on market – 137

Quail Crest Condos Sold Listings: 3

Quail Crest Condos average sold price – $274,167

Quail Crest Condos average sold price/SqFt – $ 167.48

Quail Crest Condos average days on market – 89

Quail Crest Condos Expired Listings: 5

Quail Crest Condos average expired price – $202,160

Quail Crest Condos average price/SqFt – $ 147.35

Quail Crest Condos average days on market – 146

The absorption rate for Quail Crest Condos is 40 months, which

means if no new listings come on the market, it will take 40 months

for the current inventory of homes to sell at the current rate of sales.

This is very high for the Grand Rapids Market, which means either prices

are too high for today’s buyer, or there is a glut of condos on the market.

Quail Crest Condos Oct Market Report

Quail Crest Condos Sept Market Report

Quail Crest Condos July Market Report

Quail Crest Condos June Market Report

If you have further questions about Grand Rapids or

Cascade MI Condos, please contact me directly. We can

also have these monthly market reports emailed to your

inbox, just contact us.

Grand Rapids Ada MI Real Estate – Five Star Real Estate

photo of Quail Crest Entrance by Bonnie Westbrook

Grand Rapids MI Absorption Report Dec 2008 ~ Forest Hills Gardens

Posted on December 30, 2008 by Terry & Bonnie

Forest Hills Gardens Residential Real Estate

Dec 2008 Market Report

4 Sold, 0 Pending, 1 For Sale

The absorption rate for Forest Hills Gardens is 3 months, which

means if no new listings come on the market it will take 3 months

for the existing inventory of homes to sell at the current rate of sale.

This is a fabulous rate in this market and the one home for sale

reflects the stability and desirability of the neighborhood.

Active Listings: 1

Average price is $ 164,900.

Average time on market is 76 days.

Average cost/SqFt is $90.50

The average price for Forest Hills Gardens sold homes is $162,475.

The average price/sqft for Forest Hills Gardens sold

homes is $ 96.47.

The average days on the market for Forest Hills Gardens sold

homes is 20 days.

The Ada area growth trends remain strong. Ada Township planner,

Jim Ferro states that the Ada population has grown by 20% since 2000.

There is a new proposed 80 condo units – Villas of Ada going in next

door and Stone Falls of Ada – a 210 unit apartment complex, currently

under construction a short distance away on Spaulding Ave.

Both of these new developments are quite close to Adacroft Commons

and Forest Hills Gardens.

If you have questions about Forest Hills or Ada homes,or

if you would like this market report emailed to your inbox,

please contact me directly.

Grand Rapids Ada Real Estate ~ Five Star Real Estate LLC

Japanese Maple photo by Bonnie Westbrook

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 ~ 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

Grand Rapids MI Absorption Report Dec 2008 ~ Tamarron Estates in Cascade Township

Posted on December 22, 2008 by Terry & Bonnie

Forest Hills Central HS Entrance

Tamarron Estates is an upscale suburban development with large

wooded lots, walking access to Thornapple Elementary School and

the Thornapple River Backwaters. It is located just off of

Thornapple River Drive and Cascade Road in Cascade Township.

The house styles vary from large, comfortable ranches, traditional

two stories, to contemporary homes. Many of the homes were built

in the late 1970’s to the mid 1980’s, though there is a new street

that has much newer homes on acreage settings. Some houses close

to and surrounding this development are in the upper price brackets

in the Grand Rapids real estate market.

Tamarron Residential Real Estate

December 2008 Market Report

5 Sold, 7 For Sale, 7 Expired

Tamarron Active Listings: 7

Tamarron Average Active Price – $ 500,329

Tamarron Average Active Price/SqFt – $ 137.25

Tamarron Average Active Days on Market – 138

Tamarron SOLD Listings: 5

Tamarron Average Sold Price – $ 339,480

Tamarron Average Active Price/SqFt – $ 98.11

Tamarron Average Sold Days on Market – 63

Tamarron Expired Listings: 7

Tamarron Average Expired Price – $ 265,629

Tamarron Average Expired Price/SqFt – $ 112.74

Tamarron Average Expired Days on Market – 124

234 homes have sold in Cascade Township in 2008

Average home selling price is $306,712

At the current selling rate, we have an Absorption rate of 16.8 months,

which means if no new listings come on the market, it will take 16.8 months

to clear the current supply of homes.

MARKET SYNOPSIS: Tamarron homes are selling but not at the prices that

some sellers would like to see. Today’s market is accepting homes under

$100.00 a sq ft. This is a price reduction for this area. As you can see,

most sellers think their homes will sell at $ 137 a sq ft. This isn’t happening.

Even the expired listings aren’t selling at $ 112.00 a sq ft. If you have to

sell your Tamarron Estates home now, be sure you are price competitively with

other properties on the market. Condition plays a large factor in these older

homes. If you haven’t updated, you aren’t going to get top dollar for your

home, the market place is telling you that you need to be at $ 100 a sq ft or

less to see your home sell.

Cascade Township has seen tremendous growth in the last fifty

years, though the growth rate has slowed considerably since 2000.

The majority (82%) live in a single family home, and the median

value is $220,00. Household incomes in Cascade Township are the

highest among surrounding Grand Rapids areas at $ 87,290. Most

people in Cascade Township prefer to live here because of the quality

housing, safe areas, and quality schools.

Tamarron Estates Market Report June 2008

Tamarron Estates Market Report July 2008

Tamarron Estates Market Report August 2008

Forest Hills Market Report Sept 2008

Tamarron Estates Market Report Oct 2008

Tamarron Estates Market Report Nov 2008

If you have questions about the value of your Cascade or Forest Hills

Home, please contact me directly.

Photo of Tamarron North Entrance by Bonnie Westbrook

Beer Tasting Brunch for the Holidays

Posted on December 21, 2008 by Terry & Bonnie

What do Breakfast Stout and Wild Blue have in common with Dogfish Brewery?

Breakfast Beer Brunch

They are all micro brews that are unique and great to serve with a breakfast

brunch. This is the second time we have hosted a “BEER TASTING

BRUNCH”. What a lot of fun. Now, I must say I am not a beer aficionado.

The cinnamon rolls would have more appeal for me but some of these

specialty brews are really unusual. One of my favs was the Wild Blue,

made with Michigan blueberries. I know it sounds strange but

it was really good! The Oatmeal Stout was hefty…..guaranteed to have you

napping on the couch by 2pm.

The original brunch was gobbled up fast, so I only have a still life photo to

represent our feast.

This is a great idea for a Holiday Brunch…the beer lovers will appreciate it.

And the non-beer lovers will get a chance to taste beers they

never would order at a pub.

Happy Solstice, Everyone!!

Bottoms UP!!

Grand Rapids Ada Real Estate ~ Five Star Realty

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

Forest Hills Fine Arts Center – A Fun Evening With Bandtasia

Posted on December 2, 2008 by Terry & Bonnie

We are very fortunate to live in a community with a fabulous public school

system. One of its more popular assets is the Forest Hills Fine Arts Center.

This venue hosts Broadway Shows, a Gallery for local artists, High School

Musicals, Grand Rapids Symphony, Grand Rapids Ballet Events, and other

local school shows.

We are new volunteers at the Fine Arts Center and have learned a

lot about its background and what keeps it running.

: Forest Hills Fine Arts Center Ada MI

A list of over 300 volunteers are unpaid staff that help host all the shows.

Even though this wonderful building is part of the Forest Hills Public School

System, it is expected to operate at a profit. The only way to do this is

keep a small staff and have community volunteers man the events. This

keeps the cost of shows at a level where it is affordable and gives us a

wonderful building to host our local artistic events.

This is the Fine Arts Centers Fifth Season Subscription Series:

Clint Black Sept 21

Michael McDonald October 24

Three Dog Night November 7

Movin’ Out December 7

Golden Dragon Acrobats February 3

Phoebe Snow March 1

We just went to our first volunteer event a few weeks ago, Forest Hills

Central High School’s Bandtasia. Forest Hills Central’s marching

band puts on this show for the local community to strut their stuff. We

thoroughly enjoyed their performance.

We made a short video of some highlights, if you would like to take a look

at our excellent community arts resource- The Fine Arts Center:

Grand Rapids – Ada Real Estate – Five Star Real Estate

photo of Forest Hills Fine Arts Center by Bonnie Westbrook

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