Real Estate Information Archive

According to CNN Money, Grand Rapids ranks #9 out of the 10 most affordable housing markets. There is no better time to buy than NOW!

Via CNN Money.com talking about Grand Rapids:

In the late 19th and early 20th centuries, lumberjacks took down many square miles of Michigan's hardwood forests to feed the numerous furniture makers of this city in the center of the lower peninsular. There are some furniture makers left, but they tend to use metal rather than golden oak.

There's been a gentle slope to population growth over the post-war years; the metro area gained about 5% during the past decade.That means low demand for housing and the median price of about $80,000 in early 2011 is down about 10% from the boom years. A tidy three-bedroom home can be bought for less than $90,000.

According to John Paulson double digit inflation will hit within the next couple of years and there could NOT be a better time to buy. Read his blog below:

MSHDA's Mortgage Credit Certificate Program:

You ask what is a Mortgage Credit Certificate? Mortgage Credit Certificates (MCC) reduce the amount of federal income tax a homebuyer pays. The estimated annual cost savings is calculated on a monthly basis to help homebuyers qualify for a higher mortgage payment, and therefore a higher priced home-expanding home choices. MCCs are available to homebuyers who meet household income and home purchase price limits.

Calculating the Credit:

Total Mortgage Amount x Loan Interest Rate=Annual Interest

Annual Interest x MCC Rate (20%)= Tax Credit for the Year

Where Can you Get A MCC?

Many banks, credit unions and mortgage companies participate in the MCC program. A list is available on the MSHDA website : michigan.gov/mshda.

These MCCs can be combined with convential, FHA, Rural Development and VA Mortgage loans. Just because the first time homebuyer's tax credit has expired doesn't mean you shouldn't take advantage of this BUYER's market! Call Me Today!

I'm very excited to let everyone know Grand Rapids is Starting it's first annual restaurant week like several other major big cities. Restaurant week will take place November 4 - November 13. There are 50+ restaurants involved now. All I know is that the program is going to be 3 course meals for $20.10. for more details on participating restaurants,  to plan you food adventure go to www.restaurantweekgr.com .

Dave Ramsey was asked "What are the advantages of using a real estate agent versus going the for-sale-by-owner route when it comes to selling a home?"

His response was this:

I've had a real estate license for 30 years. If I were to put my personal residence on the market today, I'd use an active real estate agent who really knows his or her stuff in the marketplace. I'd gladly pay them their commission, too.

Now, why would I do a for-sale-by-owner, or FSBO, I'm only getting my place in front of buyers I can attract from seeing a newspaper ad, Craigslist and anyone who happens to drive by the house. If you go with a high-octane real estate agent, you will have the advantage of being exposed to his or her entire pool of buyers.

More importantly, you will be in the MLS or Multiple Listing Service, database. There, you will immediately have thousands of potential buyers.

So, who do you think will have the best chance of selling your house? Market exposure is everything in the real estate game.

And think about this: Even if you went the FSBO route every time you moved, you might do three or four of these transactions in a lifetime. A good agent closed three or four deals last week. They will know all the ins and outs of buying and selling a home, and they'll walk you through every step of the process. Research has shown that, between basic mistakes, pricing errors and lack of negotiating skills, you will cost yourself more than the agent's commission by trying to sell it yourself.

Trust me, you will get a much better deal-with a lot less hassle- by using a top-flight real estate agent.

WARNING: Scammers may try to steal your account by sending an official-looking email with a link to a fake craigslist login page, hoping you'll type in your username and password.

Look carefully at the web address near the top of your browser to make sure you are on the real craigslist login page, https://accounts.craigslist.org. If the URL is different from this one in anyway DO NOT Login.

The safest way to login is go to the craigslist homepage directly by typing in the web address, and then clicking on the 'my account' link.

Dos and Don'ts During the Loan Process

When you fill out a credit application, Lenders run a credit report for the underwriter. Each lender and each loan program has different guidelines they must follow. You should not do anything that will have an adverse effect on your credit score while your loan is in process. I know it's tempting...If you're moving into a new home, you might be thinking about purchasing new appliances or furniture, but this is really not the right time to go shopping with your credit cards. You'll want to remain in a stable position until the loan closes and give your lender the opportunity to help you lock in the best interest rate they can possibly get for you. Here is a handy list of dos and don'ts that you should adhere to after your loan application has been submitted to the lender.

Across the state in October 2008, students in grades three through nine participated in the Michigan Educational Assessment Program, or MEAP. The chart below shows student's percentages of meeting or exceeding state standards. Using these scores may be a helpful reference for deciding which school district you may want to consider when moving.

 Below are the scores for 3rd-8th grades. E=English-combination of reading and writing, M=math, S=science, SS=social studies, NA=tests not taken

Chart from the Grand Rapids Press, Friday, April 3 2009.

Why Use an ABR®: (REALTORS® Experienced in Buyer Representation)

Buying a home is no small matter. Besides being the largest financial transaction you may ever undertake, it’s probably also the most complex. There are many good reasons to work with a qualified real estate professional—especially a trained professional who has earned the Accredited Buyer’s Representative (ABR®) designation, representing best-in-class buyer services.

When you look for an ABR® before you look for a home, you’ll be served, not sold. Your interests become their interests. And you’ll be working with someone who has gone the extra mile by completing specialized training in delivering the best in buyer-representation services. Plus, a REALTOR® who has an ABR® Designation also has an established track record, with proven experience in representing the concerns of homebuyers.

The ABR® Designation is awarded through the Real Estate Buyer’s Agent Council, or REBAC, which was founded in 1988 to promote superior buyer-representation skills and services. REBAC is an affiliate of the National Association of REALTORS® (NAR).

Find a Buyer’s Rep – Directory of ABR®s and other buyer’s reps working to achieve this designation. You can look for me (Mark Brace) in the directory, I am a registered ABR with the National Assocaiation of Realtors and the Real Estate Buyer's Agent Council.

ABR's are among the Top 2% of Buyers Agent Realtors, They have taken the ABR Training class with specialized education offer by the Real Estate Buyer's Agent Council, And In addition have meet the feild requirements need to to be awarded the ABR designation.

If You are thinking of buying a home in Grand Rapids Michigan you should contact Mark Brace, from Prudential Preferred Realtors to use as your personal Buyers Agent.