“On a Positive Note”
Dear Friends,
I hope that you find the first edition of my monthly newsletter to be very beneficial. The information provided will include an update on the Grand Rapids real estate market, as well as current homebuyer incentives. I am excited to provide this “positive” information to you, while always welcoming your feedback. With that said, “The Grand Rapids real estate market is recovering!”
During the month of January, 2009, 363 homes sold in Kent and Ottawa counties for an average sale price of $105,387.00. Average days on the market were 88 days. Total inventory of listed homes was 5,657. This past January’s (2010) numbers were more exciting; 384 homes sold for an average sale price of $122,782.00. Average days on the market fell to 84 days. Total inventory of homes listed was 4,518.
This is truly wonderful news for our local economy!
Please remember, the up to $8,000 tax credit for 1st time homebuyers has been extended to contracts dated on or before 4/30/10. This is money directly in your pocket, and you can receive the credit within weeks of closing.
A new feature of the tax credit allows anyone purchasing a primary residence to receive a credit of $6,500. You do not need to be a 1st time buyer. That’s right, if you have owned a home for 5 of the last 8 years as a primary residence and purchase another primary residence, you will receive up to $6,500 within weeks of closing. You may have sold your home previously; rent it, sell it, or keep it and still qualify for this program. As with any government program there is some fine print which I am very familiar with and would be more than happy to discuss with you.
Interest rates are great! Rates are at historic lows, but are expected to increase this spring as the Fed eases out of the mortgage backed securities market. There are still zero and low down payment programs available. Now is the time to make your move!
Thank you again for your business and referrals. If there is ever anything that I can do to assist you or anyone you know, please don’t hesitate to contact me. Referrals of Listing or Buyer clients directly from friends and past customers are the heartbeat of my business! Simply give me a call with their name and I will do the rest.
**Information provided by the Grand Rapids Association of Realtors/Equal Housing Opportunity. If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed.
Call us with all of your Real Estate Needs! 616.366.5240
Have a Wonderful Day!
The Northouse Team ~ Five Star Real Estate
Jeff Northouse ~ Malinda Root
GR Homelink Website: http://www.grhomelink.com/
Email: jeff@grhomelink.com
Email: malinda@grhomelink.com
The Jeff Northouse Group is educated in all first time buyer programs, community funded down payment assisted programs, MSHDA/MCC programs and FHA/VA/USDA programs. We provide expert representation to everyone from the first time buyer to the seasoned home buyer. We are also income property and foreclosure/short sale specialists!
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