$8000 Tax Credit Extension is Approved

6 11 2009

Grand Rapids Real Estate Market Update

$8000 first Time Home Buyer Tax Credit Extension The $8000 First Time Home Buyer Tax credit was approved and is now on the President’s desk for signatures. This current extension does have a few changes, for the better in my opinion. For first timers, the $8000 tax credit is extended until April 30th, 2010. The major addition is a $6500 Tax credit for existing home owners. Effective the day of the signing, this gives current homeowners, that have owned their current home for more than 5 years, a credit and incentive to move up or sell their home.This is nice for homeowners to help with their closing costs. Income limits have also been increased to $125,000 single or $225,000 married and you can claim this credit on any home up to $800,000 in price.

Many people have used this tax credit to help with their home purchase and it has helped the market recover, so this latest extension is welcome. Here is a list of Tax Credit Highlights.

For more information about the Grand Rapids real estate market, visit my website at GRRealEstateInfo.com or contact me any time.





Grand Rapids Home Prices Up 35% Over Last year

2 11 2009

Grand Rapids real Estate Market Stats for September More great news for the Grand Rapids Real Estate market! As reported by the Grand Rapids Association of Realtors, Grand Rapids area single family home sales continue to improve and are up a whopping 39.2% over the same time period last year. The actual numbers are 1075 homes sold versus 772 in September 2008. The average sales price is also up 2% compared with the year-to-date average of $107,285. Single family year-to-date sales volume is up to 8,657 (14.1%) compared to 7587 YTD in September 2008. Inventory lever rose slightly to 8.7 months.

22% of homes sold in the Grand Rapids area remain in the $100,000 to $140,000 range with less than 50% of residential single family home sales counting as short sales and foreclosures.

The $8000 Tax Credit is one of the main reasons for the increased sale of homes  in the Grand Rapids area. The current Tax credit is set to expire on November 30th, 2009. This means that for home buyers to claim the $8000 credit, they would have to close on November 30th and no later.

Some good news to come out of DC is that there is a bill in play that will extend the First Time Home Buyer Tax credit into next year, April 30th, 2010. The $8000 credit will then reduce by $2000 each quarter until it expires at the end of 2010.

For more information on the Grand Rapids real estate market and to search for homes, visit my website at GRRealEstateInfo.com or contact me any time.





Downtown Grand Rapids Condos That are FHA Approved

13 10 2009

 

Grand Rapids Condos Downtown Grand Rapids offers some incredible condos from cool, affordable urban studios at the Hillmount or the Boardwalk condos, to luxurious penthouses and lofts at Riverhouse condos or the Fitzgerald Condos. One of the problems we have been experiencing with buyers wanting to purchase a downtown Grand Rapids condo has been financing. Many of the condos, especially the “boutique” condos like Peck, Front Row, Cityview or 65 Monroe require a conventional mortgage with ten to twenty percent down. It can be difficult to come up with that amount of cash  on hand.

Having said that, there are some condos that are FHA approved. This is important to many buyers, especially first time condo buyers looking to capitalize on the $8000 Tax credit. With an FHA loan, you need only pay a 3.5% downpayment on the loan. Much better than 10% or 20%!

Boardwalk Condos Boardwalk condos are FHA approved! Just before last Christmas they were approved. Boardwalk is a great building with many amenities including a pool hot tub area, game room, theatre room, fitness center, roof top deck, salon and JD Reardon’s bar. These condos are loft style with exposed brick, exposed duct work, river views and tall ceilings. Many floor plans are available from studio, 1, 2 and 3 bedrooms and there are two courtyards, one with the pool and the other with a peaceful, wooded area where the outdoor grills are located.

The Hillmount condos are FHA approved! The Hillmount condos offer aHillmount Condos little different feel to the Boardwalk. The building itself is an older, solid brick buillding and it does offer a few amenities such as wireless (wifi) internet, fitness center and an awesome rooftop deck with grill. Many of these condos offer lovely hardwood floors and updated kitchens with stainless steel appliances. This is a great building located at the corner of College and cherry, minutes from the downtown core. Pets are allowed.

Union Square condos Union Square condos are FHA approved! Union Square is one of the coolest buildings in town. You have probably seen it while driving on the expressway at the junction of I-96 and US-131 highways. The building is the Union Square High School and there is a big mix of condos here from affordable 1, 2 and 3 bedrooms which also includes some incredible penthouse units. Amenites include a very nice fitness center and the  roof top deck, pool and hot tub. These condos are loft style similar to Boardwalk but with more floor plans and larger windows. Some of the old school features like chalk boards and lockers have been blended in with the modern condo features.

Fulton Street Flats are FHA approved! This is a new addition to the downtownFulton Street Flats condo scene and has just been approved. These are affordable 1 and 2 bedroom condos with some nice standard features accross the street from Davenport University and minutes to the downtown core. Some features include large balconies, hardwood floors and granite counters. I like the location here and for the money, you get a good sized condo with reasonable association fees, parking and laundry rooms in each unit.

For more information on any of these Grand Rapids downtown condos, visit my website or contact me any time.





ArtPrize Top Ten

6 10 2009

The ArtPrize Top Ten Has Been Selected

Grand Rapids Real Estate

The first ever ArtPrize contest is winding down and the top ten have been selected. This competition was a phenomenal success and generated all kinds of buzz while bringing many people downtown. I brought the kids downtown Grand Rapids to see some of the art and we were genuinely amazed at the creativity and originality of the various artists. Make sure to cast your vote for your favorite piece, there are still two days left to do so. There have been an amazing 300,000+ votes cast already and the grand prize is a whopping $250,000.

ArtPrize is just one of the great things about Grand Rapids, Michigan! If you are considering a move here, visit my website at GRRealEstateInfo.com where you can search for homes and condos online, request a comprehensive relocation package or find out the value of your home. If you have any questions about the Grand Rapids housing market, feel free to contact me anytime.





Realty Executives Comes To West Michigan

30 09 2009

The Platinum Realty Group is now affiliated with Realty Executives.

Grand Rapids Real Estate

I am excited to announce that the Platnum Realty Group is now affiliated with Realty Executives. This is a great opportunity for everyone involved including our Realtors, their families, clients and business partners. The Platinum Realty Group has always been a family oriented broker that has always put customer service above all else. Affiliating with one of the fastest growing national real estate companies, with offices in 18 countries, opens up many doors and will only benefit our clients.

Realty Executives Platinum Group will now be able  to provide cutting edge marketing tools with which their agents can use to market their client’s homes. This increased national and international exposure can only help us sell these properties and open up doors to buyers relocating to the Grand Rapids area. For more information on the local Grand Rapids market or to request a Relocation Package, visit my website at GRRealEstateInfo.com or contact me any time.





EightWest – A New Show About West Michigan

24 09 2009

 

EightWest Grand Rapids Recently announced is a new TV show called EightWest. I wouldn’t normally talk about a TV show but this one is different. EightWest is billed as ” a vibrant one-hour destination for everything West Michigan”. It is hosted by Terri DeBoer of Storm Team 8 fame and Rachael Ruiz of 24 hour News 8 at Noon. These two ladies are high octane and are sure to pump that energy into their new show. I think there is a niche for a TV show like this and from a Grand Rapids real estate standpoint, I’m excited  to see how it unfolds. Some of the topics likely to be covered will be family, technology, food, finances, health and more and it will be a good tool to showcase Grand Rapids!

West Michigan is a beautiful place to live, work and play. There is something Grand Rapids Relocation for everyone from world class golf courses, excellent fishing for salmon and trout right in the center of town on the Grand Rapids Fish Ladder and recreational watersports opportunity galore on the many lakes and rivers. There are some great bistros and restaurants in town, plenty of nightlife to enjoy as well as museums and art galleries to visit. In fact, Grand Rapids is hosting it’s first ever ArtPrize contest. The largest art prize of its kind in the world, Artprize is an exciting arena where established and emerging artists are afforded the chance to show off their work. Visitors cast their vote and the winner gets the big prize of $250,000.

There has never been a better opportunity to own a home in West Michigan. Interest rates are still low, property values have drastically dropped and you still have time to take advantage of the $8000 Tax Credit. If you are considering a move to West Michigan, visit my website and request one of our relocation packages or contact me anytime.





Celebration On The Grand – Grand Rapids Events Update

10 09 2009

Celebration On The Grand Turns 30 Years Old – September 10th – 13th


Celebration On The Grand in Grand Rapids This years Celebration On The Grand will continue with the same successful formula that has made this end-of-summer festival so popular. Grand Rapids is known for it’s family friendly atmosphere and this event is no different. Premier live music, great food and the usual awesome fireworks promise an excellent treat for all.

Here is the schedule of events for the 2009 Celebration On The Grand:

Thursday

Rosa Parks Circle:

Taste of Downtown

5 p.m. — Union Guns
6:15 p.m. — Bill Kirchen
7:30 p.m. — Love and Theft
9:15 p.m. — Emerson Drive

Friday

Rosa Parks Circle:

Taste of Downtown

11:30 a.m. — Spencer Mulder
5 p.m. — Hank Mowery
6 p.m. — R.B. & Company
7:10 p.m. — Tomas Esparza Blues Experience
8:20 p.m. — Lynn Thompson Band
9:30 p.m. — Fireworks
10 p.m. — Jimmie Stagger

Ah-Nab-Awen Park:

5 p.m. — Ralston Bowles
5:45 p.m. — Nomad Willy
6:45 p.m. — Glean Infusion
8 p.m. — Organissimo

Saturday

Monroe Center:

Grand Valley Corvette Club Car Show

Rosa Parks Circle:

Taste of Downtown

3 p.m. — School of Rock
4:15 p.m. — Left Hand Daisy
5:30 p.m. — Rockit King
6:45 p.m. — Mid-Life Crisis
8 p.m. — The Concussions
9:45 p.m. — Edgar Winter

Ah-Nab-Awen Park:

3 p.m. — Children’s activities, including face-painting, crafts and games, “Come on Over” (3-4 p.m.), Kevin Kammeraad (4:30-5:30 p.m.), Scribble Monster (6-7 p.m.), Father Goose (7:30-8:30), “Madagascar” screening (9 p.m.)

For more information on relocating to Grand Rapids, visit my website at GRRealEstateInfo.com or contact me anytime.