Everyone's favorite question is, "What's going on in the Market?"  Great news.  In comparison to last year's figures, listings are down and sales are up.  Activity has definitely increased with the buyers.  It truly is "A Great Time To Buy!"

Be sure to check out the immediate release posted by the Grand Rapids Association of Realtors board about existing home sales (reprinted with permission).  2008 looks like it's going to be a great year!

One of my favorite things to write about is What's HOT on the market. Most of my What's HOT came from the REALTOR magazine, but just know I wouldn't have decided to write about it, if I didn't believe it myself from what I've seen in the marketplace. So whether or not you are just curious, are looking to remodel, are thinking of selling; all these tips can apply to you!

How did the West Michigan area compare to last year's market stats.  Check it out.  Contrary to media belief, last year (2007) was very comparable to 2006.  I look forward to an upward turn in 2008!!!

Single Family and Condo Report

Price                                            #Sold through

                                                            December  

$0 to $  99,999                                         2912

$100,000 to $199,999                               4946

$200,000 to $299,999                               1158

$300,000 to $399,999                                 356

$400,000 to $499,999                                 134

$500,000 and over                                      142

New Listings Jan - Dec.

2007                   2006

34,263               34,500

Total Sales

2007                   2006

10,355                10,643

Average Home Price

2007                   2006

$149,436            $160,793

All in all, things averaged out and were very comparable to 2006.  Be sure to keep watching this blog for the latest market trends.

** All information is gathered from the Grand Rapids Association of Realtors MLS board.

I love watching the trends in the home building industry.  In fact, it's one of my favorite subjects to read up on.  What you need to realize is that the "HOT" trends of today are because of what you said was important.  See if you agree with these sources of the latest and greatest trends in home design. 

Everyone knows that Location, Price, and Condition always rule!  However, "new materials and new technologies are reshaping the way we build." (Craven, About.com).  With the emergence of casual entertaining and the home being a person's showcase, here's what sources have said are the "HOT" items in Home Building.

March 2007 - Realtor Magazine

• Cozy, small homes on a big lot 
• Earth tone colors
• Oversized Family Rooms
• Open Kitchens
• Exotic Hardwood Floors like bamboo and brazilian cherry
• Mudrooms with lots of cubbies/storage
• Stone for countertops... ie. Marble, limestone

May 2007 - Realtor Magazine

• Various materials, textures and colors (this would include metal, granite, stone, copper, different floorings) can make a huge impact.
• Healthier Homes - includes:  Sound proofing, Water Conservation, Wastewater Treatment, Roof Space, Native Plants, Graywater, Sun/Wind Power, Engineered Hardwood

August 2007 - GR Press

• Large Family Rooms, Smaller Living Rooms
• Home to be airy and bright
• Larger Open Kitchens with Islands and Recessed Lighting
• Fireplace
• 3 Stall Garage
• Universal Design - "A concept that makes homes accessible to all people regardless of age or disabilities" (GR Press, August 19, 2007).

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