Pricing Your Home is Crucial to the Sale

Posted on October 10, 2008 by Terry & Bonnie

Pricing Your Home is Crucial to the Sale

When we sit down with potential clients to list their home, there are so many

issues and hot buttons to discuss. Inevitably we come to the one where we

really have to agree to get the home sold quickly and for the most money-

PRICE

Most homeowners want to start high and then come down – if they have

to – to sell. Of course, they are hoping their home is an exception, it will

sell for more than the market value of all the other homes in the area.

We see this over and over again.

If you don’t price your home within the price bracket it will eventually

sell for, you are hurting your chances of selling it for top dollar. If you

price your home correctly – You are not giving away money!!

Money, Money, Money

I repeat,

YOU ARE NOT GIVING AWAY MONEY.

This phantom money that you think you might get if the one person

comes along who will do anything, pay anything to own your “special”

home does not exist.

Let me repeat that –

The uneducated buyer with money falling out of their pockets,

sprinkled in fairy dust, so you can make the money you would like to out

of your home sale —– DOES NOT EXIST!!!

You are not letting go of money, you are letting go of the dream

scenario where you get the price that is 25-30% over market value.

It isn’t going to happen.

What will happen, is your home will be posted on the MLS, online,

many places where buyers can look at it. Buyers then compare your

price to others, and say, why would I buy this house?? There are

10-15 others I can look at that are competitively priced and look great.

Then…. they are gone.

They don’t come back and revisit your home as an option.

Other homes are new on the market to consider. Yours has been rejected as:

too expensive
too much work
not what they are looking for

The first month your home is listed is usually the only month that gets

high traffic. Some of our sellers will listen, most don’t.

Sadly, two, six, eight months later, we are still trying to get them to

agree to the price they should be listed at, if they want their home to sell.

Chasing this downward price spiral is not the best way to get top dollar

from your home. When it first hits the market it has the most exposure

and best chance of getting the best price!

Photos from Flickr Creative Commons photostream

http://www.flickr.com/photos/quinnanya/2904370326

_____________________________________________________________________________

The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in West

Michigan. We believe: Grand Rapids is a Great Place to Live!

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry 616-292-7263

OUR FLICKR PHOTOSTREAM

Caledonia Michigan Real Estate Market Report ~ August 2008

Posted on September 17, 2008 by Terry & Bonnie

Caledonia Michigan is a very desirable suburban community to live in

if you work in the Grand Rapids area. The school system is top rated,

the village and surrounding area was rated one of the Top 100 places

to live by Money Magazine in 2005. Caledonia MI is a bit rural

within a short distance of all the city attractions of Grand Rapids.

Example: Caledonia MI is about 6 miles from Gerald R. Ford

International Airport.

Ruehs Park Caledonia township Mi

Caledonia Real Estate Market Report March ~ August ’08

There are 157 active homes for sale in Caledonia the first of Sept.

The average price is $ 294,119, priced at an average $ 142.70

per square foot. The lowest priced home is $59,900, the highest priced

home is $899,000. Average days on the market for an active listing

is 134 days.

Caledonia MI Price of Area Listings

There are 13 homes in Caledonia in pending sales from March to date.

Average price is at $192,453, with the average price per square foot

at $98.71. The lowest price is $66,500, the highest price is

$ 449,900, averaging 142 days on the market.

Caledonia MI Price per sq ft

There are 54 homes sold in Caledonia from March ’08 to August ’08.

The average sold price for Caledonia homes is $ 184,624.

The average price per square foot for main floor is $ 102.83.

The average days on the market are 94.

The lowest sold price for Caledonia was $50,000, the highest sold

price was $ 472,000.

Caledonia MI DOM

If you have questions about the value of your Caledonia home, or

would like to move to Caledonia, please contact me directly at

1-888-240-1968 ext 0

photos of Ruehs Park Caledonia Township MI by Bonnie Westbrook

Caledonia Michigan Real Estate Market Report Sept 2008 ~ Crystal Springs

Posted on September 17, 2008 by Terry & Bonnie

Crystal Springs Development in Caledonia, MI is a large, residential

suburban housing development that was started in the late 1980’s and

most construction was finished in the 1990’s although some newer homes

have been built since 2000. There are also a few vacant lots left to develop.

This development covers a large area around the Crystal Springs Golf Course

grounds south of 68th Street to 72nd Street and encompassing Kalamazoo

Avenue on the east and west. This development has single family homes and

condos, many located right on the Crystal Springs Golf Course. (See related

article on the acquisition of Crystal Springs Golf Club)

The public school system is Kentwood, even though the address is Caledonia.

Crystal Springs is close to the shopping plaza at 68th and Kalamazoo,

Kentwood High School, and a short hop to M-6, which is the south beltline for

the Greater Grand Rapids area connecting US 131 on the west and I96 on the

east side of the city.

birdhouse in tree

September 2008 Real Estate

Residential Market Report

Crystal Springs Neighborhood

29 For Sale, 2 Pending, 17 Sold

Address Price Sq Ft $/SqFt DOM

FOR SALE:

1424 Silver Springs 219,900 2544 86.43 95

1285 68th St 159,900 2349 68.07 7

1481 Crystal Valley 299,900 2270 132.11 52

6958 Fairway Vista 169,900 1504 112.96 163

7535 Barn Swallow Ct 169,900 1516 112.07 119

1931 Hollow Creek 184,900 2000 92.45 171

6950 Kalamazoo 189,900 1765 107.59 150

6892 Crystal View 199,900 1714 116.62 86

1634 Sweet Grass 199,900 2000 99.95 164

2026 Blackmountain 219,000 2112 103.69 8

7211 Meadowgrass 229,900 2164 106.23 142

1563 Old Lantern Ct 234,900 2402 97.79 228

7450 Missoula Dr 207,609 2736 75.88 239

7439 Stillwater Dr 449,900 3200 140.59 18

7320 Old Lantern 249,900 2016 123.95 46

1845 Hollow Creek 224,900 2000 114.95 101

7277 Misty Morning 259,900 2270 114.49 171

7272 Misty Morning 275,000 2386 115.25 160

7036 Crystal View 279,000 1683 165.77 150

7368 Old Lantern 279,900 2390 117.11 170

7394 Old Lantern 289,000 3100 93.22 49

7387 Old Lantern 289,900 2875 100.83 45

7096 Summit Hill 299,900 3022 99.23 23

7095 Crystal View 315,000 2555 123.28 95

7350 Old Lantern 349,900 3031 115.44 53

1907 Landoshire Ct 214,900 1820 118.07 36

6882 Crystal View 249,000 1806 137.87 41

1438 Silver Springs 289,900 2628 110.31 25

7350 Heather Rdg 350,000 3500 100.00 28

PENDING:

2078 Eaststone St 169,900 1924 88.36 84

1588 Crystalline Dr 104,900 1620 64.70 148

SOLD:

1361 68th St 226,500 1771 134.10 182

1460 Crystal Valley 213,000 2652 90.12 85

6950 Old Lantern Dr 145,100 2671 54.32 6

2086 Eaststone 145,500 1644 88.50 46

2116 Glen Canyon 153,000 1368 110.38 47

7377 Misty View Ct 161,000 1407 114.42 104

1776 Spring Meadow 165,900 1592 103.95 102

7193 Meadowgrass 166,500 1536 108.39 30

7079 Old Lantern Dr 175,000 2135 81.96 8

7561 Barn Swallow 178,000 1189 149.70 88

7458 Misty View Ct 219,000 2112 103.69 36

7474 Old Lantern Dr 270,000 2500 108.00 40

7361 KingsCrossingCt 280,500 3220 87.11 71

1370 KingsCrossingDr 390,000 4954 78.72 105

7350 Royal Ridge 335,000 3900 85.89 77

7429 Old Lantern Dr 298,000 3800 78.42 77

7222 Crystal Stone 155,900 1504 103.65 48

550 homes have sold so far this year in the Kentwood

School District and the average price is $121,303.

If you would like additional information about Caledonia

or Kentwood Homes, please contact me directly at

1-888-240-1968 ext 0

photo of birdhouse by Bonnie Westbrook

Ada Michigan Real Estate Market Report Sept 2008 ~ Ada Woods

Posted on September 17, 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.

Ada Woods Residential Real Estate

September 2008 Market Report

4 Sold, 0 Pending, 9 For Sale

bike trail Railroad under pass in Ada MI

Address Price Status Sq Ft $/SqFt DOM

6387 Scarborough Dr 199,900 For Sale 1666 119.98 106

6449 Scarborough Dr 184,900 For Sale 2060 89.75 55

6380 Redington Dr 339,900 For Sale 2325 146.19 202

6270 Scarborough 359,900 For Sale 2640 136.32 97

6217 Scarborough Dr 469,900 For Sale 2942 159.72 61

6405 Drumlin Ct 279,900 For Sale 2321 120.59 83

6400 Redington 339,900 For Sale 2692 126.26 73

6333 Redington 344,900 For Sale 2716 126.98 43

400 Adaway Ave 329,000 For Sale 2522 130.80 29

410 Lehigh Dr 359,900 Sold 2646 136.01 15

225 Grayfield Ct 323,000 Sold 2460 131.20 169

6296 Scarborough 360,000 Sold 2888 124.65 34

6459 Redington 370,000 Sold 3106 119.12 164

The average home sale for 2008 in Ada Township is $ 309,612.

142 homes have sold this year.

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 unit – Villas of Ada

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

construction here.

Ada Woods is a popular home market in the Ada area. Part of the appeal

is the proximity of Ada Elementary, Forest Hills 5/6 School, Ada Christian

Schools, St Roberts School and close to the village of Ada and Fulton Street.

Grand Rapids Ada MI Real Estate – Five Star Real Estate

Bike Trail Railroad Underpass in Ada Mi photo by Bonnie Westbrook

Ada Michigan Real Estate Market Report ~ Adatowne Sept 2008

Posted on September 17, 2008 by Terry & Bonnie

Adatowne is a popular entry level home market in the Ada area.

Part of the appeal is the proximity of Ada Elementary, Forest Hills

Central Middle and High Schools, Ada Christian Schools, St Roberts

School and being close to the village of Ada. Adatowne is an

established subdivision, started in the early 1970’s by E.L. Ladd

Builders of Ada. I have held many open houses in these new plats

and sold many of the homes as new construction – to be built.

If you doubt the power of your home as an investment, a basic

ranch (about 1000 sq ft) sold for $ 19,900 in 1975.

Adatowne Residential Neighborhood in Ada, Michigan

September 2008 Real Estate Market Report

8 Sold, 0 Pending, 3 For Sale

adatowne residential neighborhood ada mi

Address Status Price Sq Ft $/Sq Ft DOM

6686 Adaridge For Sale 179,900 1200 149.91 27

448 Adapointe For Sale 174,900 1984 88.15 20

6873 Adaside For Sale 149,900 1264 118.59 12

6705 Adaridge Sold 143,900 1056 136.26 74

7028 Adaridge Sold 149,900 2116 70.84 8

6869 Adaridge Sold 115,000 988 116.39 20

6885 Adaridge Sold 124,000 1270 97.63 81

6966 Rix St. Sold 119,625 1052 113.71 119 (F)

6674 Adaridge Sold 142,000 1056 134.46 151

6824 Adaside Sold 142,600 1028 138.71 260

6767 Adaridge Sold 154,500 1300 118.84 20

(F) = Foreclosure

144 homes have sold in Ada Township in 2008,

Average price is $309,407. 15% fewer homes have

sold in 2008 but the average price has increased by 3%.

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 unit condo development

Villas of Ada and Stone Falls of Ada – a 210 unit apartment

complex, currently under construction here. Both new sites plan

on being open in 2009.

If you would like detailed information about Ada Homes, please feel free

to contact me directly at 1-888-240-1968.

Grand Rapids Ada MI Real Estate – Five Star Real Estate

Photo of Rix Dr. by Bonnie Westbrook

Grand Rapids, MI ~ Classic Beckwith Hills Two Story

Posted on September 17, 2008 by Terry & Bonnie

This home is in the desirable location of Beckwith Hills subdivision is in

Northeast Grand Rapids, just west off the I96 expressway at Leonard.

Fresh on the market, this wonderful two story home is at

1400 Dewberry Court NE.

Total finished square footage is 2638 of gracious living with a finished

lower level. The main floor has a large living room, family room, eat in

kitchen with a central island, main floor uitility and half bath.

A deck off the sliding glass door to the dining area is convenient for

grilling and entertaining.

Three bedrooms up with a full bath, the master bedroom has a large

walk in closet. The finished lower level has a recreation room, full bath,

and study or home office, plus play area and additional storage.

This is a one owner home and well maintained.

Dewberry Court Grand Rapids MI Home for sale

Living Room

Offered at $ 174,900. MLS # 729848

For more information about this home, contact me directly at

1-888-240-1968 ext 2306

Rockford Michigan ~ Real Estate Market Report ~ Sept 2008

Posted on September 17, 2008 by Terry & Bonnie

Rockford Michigan is a quaint village on the Rogue River with many

suburban neighborhoods surrounding it. Rockford Michigan has an

excellent public school system and a large scale employer in Wolverine

Worldwide (they make the famous Hush Puppy shoes, among other

items). They have a vibrant downtown area with boutique shops and

good restaurants. The picture below shows the many turn-of-century

buildings that have been rehabbed to house current retail shops and

eateries.

Main Street in Rockford MI

Rockford Real Estate Market Report

September 2008

Rockford market up to $ 200,000

$/sq ft DOM Avg Price

Active listings 165 $110.08 71 $152,445

Pending 22 $ 95.30 69 $135,485

Sold 58 $104.41 39 $142,317

Active listings range in price from $29,900 to $200,000.

Sold listings range in price from $45,000 to $ 197,000.

Rockford Market over $200,000

$/sqft DOM Avg Price

Active Listings 196 164.09 80 $ 327,615

Pending 9 146.86 79 $ 341,756

Sold 22 144.43 53 $ 284,136

Active listings range in price from $200,000 to $1,300,000.

Sold listings range in price from $203,000 to $550,000.

368 homes sold so far in the Rockford Public School District

in 2008. The average home price is $187,200.

Because Rockford is such a small city and covers a large district,

this report is based on the Rockford Public School District, not

the village of Rockford.

If you would like more information about the value of your Rockford

home, please contact me directly at 1-888-240-1968 ext 0.

Grand Rapids Ada Real Estate – Five Star Real Estate

photo of Downtown Rockford by Bonnie Westbrook

Wyoming Michigan ~ Real Estate Market Report ~ August 2008

Posted on September 17, 2008 by Terry & Bonnie

Wyoming Michigan is a large suburban city adjacent to Grand

Rapids Michigan. Wyoming MI homes are moderately priced,

which makes it an active market in this economy.

Wyoming Michigan has had 267 homes sold since May 31, 2008

through August 31, 2008 recorded on the Grand Rapids Real Estate

Board Multiple Listing Service priced from $30,000 to $265,000.

Ranch homes have been the major category with 186 sold, two stories

are about two thirds less with a total of 63 sold, and multi-levels have

had 18 homes sold.

Wyoming MI ranch homes have sold for an average price of $110,088

at $101.82 per sq/ft, and took an average 112 days on the market to sell.

Obviously the lower price levels have affected this average ( low price $37,900

vs high price of $265,000) I would assume the lowest price levels are bank

owned foreclosures negatively affecting the market price.

Wyoming MI two story homes have held their value a little better at an

average price of $124,355, price per sq/ft at $ 105.35, and selling in an

average of 128 days on the market.

Wyoming MI multilevel homes are averaging $125,450, price per sq/ft

at $88.72, selling in an average of 99 days on the market.

As you can see, Wyoming Michigan homes listed at a high price are

not selling until the price gets close to the average or below for sold

homes. If you don’t have to sell your Wyoming home now, it might be

better to wait for a stronger seller’s market. On the other hand, it is a

perfect time to move up because you will be able to buy your next

house at the lowest prices seen in 5 years in this area. And interest rates

at are all time record lows. It can’t get any better than that.

If you have any questions about Wyoming MI Homes, contact

me directly at:1-888-240-1968 ext 0

All information is subject to verification and no liability for error

or omission is assumed.

Waterfront Real Estate Report ~ August 2008 ~Eastern Kent County Michigan ~

Posted on September 9, 2008 by Terry & Bonnie

Like all counties in Michigan, we are blessed with water, lots of water, in the

form of inland lakes, rivers and streams. Many people who live here have

residences that have private waterfront access, the prices range from $99,000

at the low end to $4,000,000 at the high end to live on the waterfront in

Eastern Kent County.

Eastern Kent County would include Ada, Alto, Belding, Belmont, Caledonia,

Cannon, Cannon Twp, Cannonsburg, Cascade, Comstock Park, Dutton, East

Grand Rapids, Forest Hills, Gaines, Gaines Twp, Grand Rapids, Kentwood,

Rockford, & Vergennes Twp.

This Private Waterfront Real Estate Market Report gives you the current

picture for the hot market time from March to August 2008.

The chart below tells us that 15 properties have sold, 3 pending,

82 currently For Sale, and 18 have expired.

Reeds Lake, East Grand Rapids, MI

Average Price for Private Access Waterfront Real Estate

Current For Sale = $618,500

Pending Sales = $466,300

Sold Homes = $419,853

Average Days on the Market

Current For Sale = 80 days

Pending = 78 days

Sold = 56 days

Expired = 101 days

Average Price per Square Foot

Current For Sale = $222.39

Pending = $201.98

Sold = $196.93

Expired = $189.01

Status	Total	Avg Price	$/SqFt	Median	Low	High	Avg DOM
ACT/CNT	82	$618,500	$222.39	$429,000	$99,900	$4,000,000	80
PND	3	$466,300	$201.98	$599,000	$300,000	$599,000	78
SLD/RNT/LSE	15	$419,853	$196.93	$275,000	$145,000	$1,275,000	56
WTH	0	$0	$0.00	$0	$0	$0	0
EXP	18	$378,292	$189.01	$286,950	$149,900	$1,275,000	101
Total	118	$552,737	$213.54	$395,000	$99,900	$4,000,000	80

All information is subject to verification and no liability for omission

or error is assumed

If you would like additional information about waterfront homes

in Kent County, please contact me directly at:

1-888-240-1968 ext 0

F.Y.I. ~ The 4 million dollar property listed is on Reeds Lake, the beautiful lake

in East Grand Rapids, captured in a photo by Bonnie Westbrook.

September Update on Ada Condos ~Villas of Ada Tour, Ada MI ~

Posted on September 9, 2008 by Terry & Bonnie

We did some investigating the other day and took a field trip, so we

could report on the new Ada condos going up in Ada off

Ada Drive & Hall Street, The Villas of Ada.

The developer has a similar community in Grandville where we took

a tour of the models and community clubhouse. Until the club house

and condominum models are open here in Ada, estimated to be

early 2009, we thought you would like a sneak preview.

We have put pictures and some information together on a visual

tour, so you can take an armchair tour of what the Ada condo

models will look like.

Canterbury Sunroom

Master Bedroom Abbey Model

We were very impressed with the consideration given to a mature life style.

For instance, in Villas of Ada there will be NO STEPS! Period.

The plans have been adjusted so there will be more storage in the pantry,

and access to the garage attic will be easier. The pool is kept open until

November 1 and is kept heated to 80 degrees. The fitness center can be

accessed 24 hours a day with a key, so you can exercise at 3 am,

if you want to.

A nice plus is the Ada Walking Path that can be accessed off Ada Drive.

This path is now connected to Grand Rapids Township and Frederick

Meijer Gardens & Sculpture Park at Forest Hills & Fulton.

As you can see by the photos, this will be an very nice development

to live in.

Villas of Ada – The Abbey Condo Tour:

Villas of Ada – The Canterbury Condo Tour:

If you would like additional information about Ada homes, please contact me

directly at 1-888-240-1968 ext 0

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Tag Archives: Grand Rapids Michigan Homes For Sale

Pricing Your Home is Crucial to the Sale