Winter in Grand Rapids, MI…Will the White Stuff Bring Good News for Home Sales?

What started with gently falling flakes  which quickly melted has now tossed a snowscape blanket of brilliant white throughout Grand Rapids, MI.  It’s beautiful!  The first big snow fall of the year always is.  I’m looking out my window and admiring how pristine everything looks.  The trees which were devoid of leaves are now flecked with specks of white.  Time to get out the Christmas tree and think about Christmas shopping…

Today, the numbers for November sales were released by the Grand Rapids Association of Realtors®.  There’s definitely some news to bring good cheer to the season.  November’s sales numbers have held steady,  which is particularly significant given the drops in sales which the industry experienced in the summer months.  Inventory remains high at 9.9 months of supply, but this is lower than the almost 12 months of supply that we had 12 months ago.  Condo sales are a surprising bright spot with an increase in sales of 23% over the same period last year.

If you’re thinking of purchasing a condo, there are a lot of attractive options to look at.  If you will require financing, make sure you check with your lender to ensure that your condo will qualify for the particular type of financing that you need.  This is especially pertinent if you are going to be using an FHA type loan.

If you’re thinking about putting your home on the market, it’s important to understand the specific dynamics in your area and price range.

Every neighborhood in Grand Rapids has it’s own trends and these need to be understood in order to have a home listing enter onto the market successfully.  Because Short Sales and Foreclosures are still a factor in our area, it’s critical that the impact of any home sales activity include this data and that home sellers understand the time it will take to market a home and what needs to be done to facilitate a Sale.

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