With all the talk of what's going on in the market, I love to hear everyone's viewpoints as to where the Michigan Real Estate market really stands.  So I read a lot of articles and of course, have my own point of view.  I have to say that for once, I actually agreed with our local newspaper, the Grand Rapids Press about cottages and lakefront homes still remaining a steady market.

In the article titled, 'Vacation homes are growing market' on the great 4th of July, the article talked about cottages and vacation homes holding their own.  Jeanine Lemmon of Patriot Realty was quoted as saying, "In our practice, we're about 14 percent ahead over last year in terms of sales." (Grand Rapids Press, 7/04/07.)  Of course, like the normal Michigan real estate market, the number of vacation homes are more than the year before but baby boomers specifically seem to be ready to buy their second home which has helped keep the sales steady.

Our family has a cottage on a lake and we absolutely love it.  This is my absolute favorite time of the day (around 6:00 pm) when the sun hasn't set but makes the water glow.  It also contains one of my favorite things to do which is the jet ski.  There is nothing like going 60 mph on a jet ski and because I grew up on this lake, I still hold the title of "Queen of the Tube."  I had a friend pull me and as much as he tried, he couldn't throw me off of it!

 This lake holds some of the best memories from childhood until now.  In fact, when I'm not working... more than likely I'm up at the cottage and enjoying the summer sun.

So, I love to look at cottages mainly because I know what great memories are in store for the buyers that purchase one of these homes. 

On Friday, May 25^th, The Parade of Homes officially kicks off.  Sponsored by the Home and Building Association of Greater Grand Rapids, those home buyers wanting some great ideas of house plans should spend the money on this great event.  If you read, my first blog about the Parade of Homes I wrote, "According to Judy Barnes of the Home and Building Association of Greater Grand Rapids, "Homes are priced to sell today.  It's probably as cheap as you'll see those prices... More people can afford homes in this Parade." (GR Press) 

Custom House Plan are More Affordable Than Ever

Custom house plans are coming by cheaper than ever before.  Builders are feeling the pressure of selling their homes and therefore they are making their homes more attractive to you at a lesser price.  Here is a list of some of the unique items you'll find in these custom houses: Custom wood accents, bronze fixtures, ledgestone exteriors instead of brick, custom shelving in the laundry room, book racks, oversized message boards, taller ceilings, granite countertops, heated tile flooring, whirlpool tubs, upgraded plumbing fixtures, walk-in showers, ceramic tile, Australian Cypress hardwood floors, walk-in pantries, decorative iron accents and the list goes on.... (GR Press). 

According to Michael Bosgraaf of Bosgraaf Homes, "The sales decline over the last year has left a glut of unsold homes on the market... prompting West Michigan and across the country to slash prices and offer steep incentives to attract buyers." (GR Press)

Here's the latest market reports as reported through the Grand Rapids Association of Realtors (GRAR) board.

Information is based January - May 2007 and compares this year with last year.  If you have any questions, please feel free to contact me.

Single Family and Condo Report

Price                                                 #Sold through May

           $0 to $  99,999                           995

$100,000 to $199,999                       1948

$200,000 to $299,999                        412

$300,000 to $399,999                        123

$400,000 to $499,999                         35

$500,000 and over                              49

New Listings Jan - May

2007                   2006

15,461                14,765

The 2007 Grand Rapids Parade of Homes is one of my absolute favorite times of the season. Personally, I love the latest and greatest architectural designs of the custom homes and viewing their house floor plans.  First time home buyers and seasoned home buyers should take advantage of this time (it starts May 25^th through June 9^th, 2007) to peruse these unique house floor plans and the custom upgrades that are available in homes today. 

Custom Homes Don't Have to Cost More $$

In a recent article about the 2007 Parade of Homes in the local newspaper on Sunday, May 20^th, "Buyers are not interested in a cookie-cutter home that looks like all the others in their subdivision.  Hardwood cabinets, top-end light fixtures and functional, user-friendly designs are in demand." (Grand Rapids Press)  Some other top wants for the buyer looking at homes for sale are: custom-built shelving in the laundry room, stainless steel appliances, and taller ceilings (GR Press).