Grand Rapids Housing Market

It’s a frustrating time for anyone looking to buy a home in the Grand Rapids housing market. Real Estate for sale in the Grand Rapids and surrounding areas have hit an all time low. All over Michigan, Agents and buyers are struggling to find that perfect home. Grand Rapids real estate remains a hot commodity considering the growing population, jobs and interest rates remaining low. The only problem is that there aren’t enough homes for sale to meet the demand of buyers. This is great news for sellers but a little harder on the buyers. In Grand Rapids alone, houses that do come up for sale certainly don’t last long. In some instances, they are selling before they even hit the market. What this means for those looking to buy in Grand Rapids area is sitting on it might not be the best move. Choosing an experienced agent who Understands the market and surrounding neighborhoods is half the battle.

Grand Rapids Housing MarketReal estate for most, is not an impulse buy. It takes a lot of planning and research from both the buyers and agents involved. What neighborhood do you want to live in, would you like a two story house or a ranch? What are the taxes for the home, what type of financing is available. Some great advice any agent will tell you is having all your ducks in line before making any moves. By that, I mean speaking to a bank to get pre-qualified so you understand what your budget is and if something comes along you can jump on the opportunity. Be prepared for a multiple offer situation. With low inventory and many buyers out there, you may run into a situation where others might be bidding on the same house you are after. Touching back on finding a good agent, it’s important they understand the market and the areas you are seeking. They will provide you with a leg up on the competition and sometimes be able to provide you with some homes right before they hit the market. The Grand Rapids housing market is not the only market in Michigan experiencing this situation and from the looks of things, the market is expect to stay pretty stable like this for some the time being. It is possible to find the home you are looking for in a low inventory market. Just be sure you have done your research and know what you want. With that in mind, you should be able to close the deal.