West Michigan Real Estate BlogRecently posted or modified blog postshttps://www.geenenhomes.com/blog/Copyright GeenenHomes.com2024-03-08T11:37:58-07:00tag:geenenhomes.com,2012-09-20:8064Why Access Is So Important When Selling Your HomeWhy Access Is So Important When Selling Your House
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If you’re gearing up to <a href="https://www.simplifyingthemarket.com/en/2024/02/27/why-todays-housing-supply-is-a-sweet-spot-for-sellers/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">sell your house</a> this spring, one of the early conversations you’ll have with us is about how much access you want to give buyers. And you may not realize just how important it is to make your house easy to tour.
Spring is the peak homebuying season, so opening up your house to as many showings as possible can really help you <a href="https://www.simplifyingthemarket.com/en/2024/02/06/houses-are-still-selling-fast/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">capitalize</a> on all the extra buyer activity we see at this time of year.
Since buyer competition ramps up in the spring, buyers are going to want to move fast to see your house once they find <a href="https://www.simplifyingthemarket.com/en/2024/02/19/its-time-to-prepare-your-house-for-a-spring-listing/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">your listing</a>. And, if they see it and fall in love with it at a time they know they’re competing with other buyers, you may be more likely to get the offer you’re looking for on your home.
It’s understandable you want to keep the disruptions to your own schedule to a minimum, and you may be stressed about having to keep it clean, but it’s worth it. As an article from Investopedia <a href="https://www.investopedia.com/articles/mortgages-real-estate/08/home-seller-mistakes-selling-house.asp" rel="noopener noreferrer" target="_blank">explains</a>:
“If someone wants to view your house, you need to accommodate them, even if it inconveniences you. Clean and tidy the house before every single visit. A buyer won’t know or care if your house was clean last week. It’s a lot of work, but stay focused on the prize.”
To figure out what’s best for you, your agent will walk you through options like the ones below. This list breaks things down, starting with what’s most convenient for buyers and getting less buyer-focused as the list goes on:
Lockbox on the Door – A key is available via a lockbox, which makes it easy for agents to show the home to potential buyers. This gives the most flexibility because the key is on-site and convenient.
Providing a Key to the Home – An agent would have to stop by an office to pick up the key with this option. This is still pretty convenient for showings, but not quite as simple.
Open Access with a Phone Call – You allow a showing with just a phone call’s notice, which can be great for someone who sees your house while driving by.
By Appointment Only – This gives you a more advanced warning so you can get the house tidied up and be sure you have somewhere else you can go in the meantime. But it’s also a bit more restrictive.
Limited Access – You might go this route if you only want to have your house available on specific days or at certain times of day. But realize this is the most difficult and least flexible of the choices.
As an article from U.S. News Real Estate <a href="https://realestate.usnews.com/real-estate/slideshows/secrets-to-selling-your-home-faster?slide=15" rel="noopener noreferrer" target="_blank">says</a>:
“Buyers like to see homes on their schedule, which often means evenings and weekends. Plus, they want to be able to tour a home soon after they find it online, especially if they're competing with other buyers. If your home can be shown with little or no notice, more prospective buyers will see it. If you require 24 hours’ notice, they may choose to skip your home altogether.”
<a href="https://www.simplifyingthemarket.com/en/2024/02/28/why-you-want-an-agents-advice-for-your-move/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">Your agent</a> is going to help you find the right path forward based on your schedule and what’s working for other sellers in your area. And if you’ve got a hardline on granting buyers more access or have interested out of town buyers that just can’t be there in person, your agent will get creative and help you explore other options like video tours, virtual showings, and more.
Bottom Line
When it comes to selling your house, you want to be sure to get as much buyer activity as you can. Let’s connect to talk about which level of access helps make that possible.2024-03-08T11:30:00-07:002024-03-08T11:37:58-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:7895Why Pre-Approval Is Most Important This YearWhy Pre-Approval Is Even More Important This Year
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On the road to becoming a <a href="https://www.simplifyingthemarket.com/en/2023/12/08/your-homebuying-adventure-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">homeowner</a>? If so, you may have heard the <a href="https://www.simplifyingthemarket.com/en/2024/01/19/key-terms-every-homebuyer-should-learn-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">term</a> pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to <a href="https://www.simplifyingthemarket.com/en/2024/01/03/thinking-about-buying-a-home-ask-yourself-these-questions/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">buy a home</a> in 2024.
What Pre-Approval Is
As part of the <a href="https://www.simplifyingthemarket.com/en/2024/01/10/avoid-these-common-mistakes-after-applying-for-a-mortgage/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">homebuying process</a>, your lender will look at your finances to figure out what they’re willing to loan you. According to <a href="https://www.investopedia.com/financial-edge/0411/5-things-you-need-to-be-pre-approved-for-a-mortgage.aspx" rel="noopener noreferrer" target="_blank">Investopedia</a>, this includes things like your W-2, tax returns, <a href="https://www.simplifyingthemarket.com/en/2023/12/26/get-ready-to-buy-a-home-by-improving-your-credit-score/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">credit score</a>, bank statements, and more.
From there, they’ll give you a pre-approval letter to help you understand how much money you can borrow. Freddie Mac <a href="https://myhome.freddiemac.com/blog/homebuying/how-do-i-get-pre-approved-mortgage" rel="noopener noreferrer" target="_blank">explains</a> it like this:
“A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home. . . . Keep in mind that the loan amount in the pre-approval letter is the lender’s maximum offer. Ultimately, you should only borrow an amount you are comfortable repaying.”
Now, that last piece is especially important. While <a href="https://www.simplifyingthemarket.com/en/2024/01/18/3-key-factors-affecting-home-affordability/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">home affordability</a> is getting better, it’s still tight. So, getting a good idea of what you can borrow can help you really wrap your head around the financial side of things. It doesn’t mean you should borrow the full amount. It just tells you what you can borrow from that lender.
This sets you up to make an informed decision about your numbers. That way you’re able to tailor your <a href="https://www.simplifyingthemarket.com/en/2023/12/11/the-perfect-home-could-be-the-one-you-perfect-after-buying/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">home search</a> to what you’re actually comfortable with budget-wise and can act fast when you find a home you love.
Why Pre-Approval Is So Important in 2024
If you want to buy a home this year, there’s another reason you’re going to want to be sure you’re working with a trusted lender to make this a priority.
While <a href="https://www.simplifyingthemarket.com/en/2024/01/24/are-more-homeowners-selling-as-mortgage-rates-come-down/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">more homes</a> are being listed for sale, the overall number of available homes is still below the norm. At the same time, the recent downward trend in <a href="https://www.simplifyingthemarket.com/en/2024/01/08/what-lower-mortgage-rates-mean-for-your-purchasing-power/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">mortgage rates</a> compared to last year is bringing more buyers back into the market. That imbalance of more demand than supply creates a bit of a tug-of-war for you.
It means you’ll likely find you have more competition from other buyers as more and more people who were sitting on the sidelines when mortgage rates were higher decide to jump back in. But pre-approval can help with that too.
Pre-approval shows sellers you mean business because you’ve already undergone a credit and financial check. As Greg McBride, Chief Financial Analyst at Bankrate, <a href="https://www.bankrate.com/mortgages/preapproved-vs-prequalified/#preapproval" rel="noopener noreferrer" target="_blank">says</a>:
“Preapproval carries more weight because it means lenders have actually done more than a cursory review of your credit and your finances, but have instead reviewed your pay stubs, tax returns and bank statements. A preapproval means you’ve cleared the hurdles necessary to be approved for a mortgage up to a certain dollar amount.”
Sellers love that because that makes it more likely the sale will move forward without unexpected delays or issues. And if you may be competing with another buyer to land your dream home, why wouldn’t you do this to help stack the deck in your favor?
Bottom Line
If you’re looking to buy a home in 2024, know that getting pre-approved is going to be a key piece of the puzzle. With lower mortgage rates bringing more buyers back into the market, this can help you make a strong offer that stands out from the crowd.2024-03-04T06:00:00-07:002024-02-12T10:51:04-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:7830How Our Team Can Help When Buying New ConstructionWhy Having Your Own Agent Matters When Buying a New Construction Home:
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Finding the right home is one of the biggest <a href="https://www.simplifyingthemarket.com/en/2023/09/29/explaining-todays-low-housing-supply-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">challenges</a> for potential <a href="https://www.simplifyingthemarket.com/en/2024/01/01/3-keys-to-hitting-your-homeownership-goals-in-2024/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">buyers</a> today. Right now, the supply of homes for sale is still low. But there is a bright spot. <a href="https://www.simplifyingthemarket.com/en/2024/01/16/why-you-may-want-to-seriously-consider-a-newly-built-home/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">Newly built homes</a> make up a larger percent of the total homes available for sale than normal. That’s why, if you’re craving more options, it makes sense to see if a newly built home is right for you.
But it’s important to remember the process of working with a builder is different than buying from a homeowner. And, while builders typically have sales agents on-site, having your <a href="https://www.simplifyingthemarket.com/en/2023/10/30/a-real-estate-agent-helps-take-the-fear-out-of-the-market/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">own agent</a> helps make sure you have proper representation throughout your <a href="https://www.simplifyingthemarket.com/en/2023/12/08/your-homebuying-adventure-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">homebuying journey</a>. As Realtor.com <a href="https://www.realtor.com/guides/guide-to-buying-new-construction-home/steps-to-buying-a-new-construction-house/" rel="noopener noreferrer" target="_blank">says</a>:
“Keep in mind that the on-site agent you meet at a new-construction office works for the builder. So, as the homebuyer, it’s a smart idea to bring in your own agent, as well, to help you negotiate and stay protected in the transaction.”
Here’s how having your own agent is key when you build or <a href="https://www.simplifyingthemarket.com/en/2024/01/05/achieving-your-homebuying-dreams-in-2024-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">buy</a> a new construction home.
Agents Know the Local Area and Market
It’s important to consider how the neighborhood and surrounding area may evolve before making your home purchase. We are well-versed in the upcoming communities and developments that could influence your decision. One way we can help is by reviewing the builder's site plan. For example, you’ll want to know if there are any plans to construct a highway or add a drainage ditch behind your prospective backyard.
Knowledge of Construction Quality and Builder Reputation
We also have expertise in the construction quality and reputation of different builders. We can give you insights into each one's track record, customer satisfaction, and construction practices. Armed with this information, you can choose a builder known for consistently delivering top-notch homes.
Assistance with Customization and Upgrades
The most obvious benefit of opting for new home construction is the opportunity to customize your home. We will guide you through that process and share advice on the upgrades that are most likely to add long-term value to your home. Their expertise helps make sure you focus your budget on areas that will give you the greatest return on your investment later.
Understanding Builder Negotiations and Contracts
When it comes to working with builders, having a skilled negotiator on your side can make all the difference. Builder contracts can be complex. We can help you navigate these contracts to make sure you fully understand the terms and conditions. Plus, we are skilled negotiators who can advocate for you, potentially securing better deals, upgrades, or incentives throughout the process. As Realtor.com <a href="https://www.realtor.com/guides/guide-to-buying-new-construction-home/steps-to-buying-a-new-construction-house/" rel="noopener noreferrer" target="_blank">says</a>:
“A good buyer’s agent will be able to review any contracts before you sign on the dotted line, ensuring you aren’t unwittingly agreeing to terms that only benefit the builder.”
Bottom Line
If you are interested in <a href="https://www.simplifyingthemarket.com/en/2024/01/19/key-terms-every-homebuyer-should-learn-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">buying</a> or building a new construction home, having a trusted agent by your side can make a big difference. If you'd like to start that conversation, let’s connect!2024-02-06T13:54:39-07:002024-02-06T13:59:57-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:7633What to Ask When Considering A Home Purchase
Thinking About Buying a Home? Ask Yourself These Questions
If you’re thinking of <a href="https://www.mykcm.com/2023/12/07/why-you-need-to-use-a-real-estate-agent-when-you-buy-a-home/" rel="noopener noreferrer" target="_blank">buying a home</a> this year, you’re probably paying closer attention than normal to the <a href="https://www.mykcm.com/2023/12/19/expert-quotes-on-the-2024-housing-market-forecast/" rel="noopener noreferrer" target="_blank">housing market</a>. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, the list goes on and on. Most likely, <a href="https://www.mykcm.com/2023/11/22/home-prices-still-growing-just-at-a-more-normal-pace/" rel="noopener noreferrer" target="_blank">home prices</a> and mortgage rates are coming up a lot.
Here are the top two questions you need to ask yourself as you make your decision, including the data that helps cut through the noise.
1. Where Do I Think Home Prices Are Heading?
One reliable place you can turn to for information on home price forecasts is the <a href="https://www.fanniemae.com/newsroom/fannie-mae-news/q4-2023-home-price-expectations-survey" rel="noopener noreferrer" target="_blank">Home Price Expectations Survey</a> from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists.
According to the most recent release, the experts are projecting home prices will continue to rise at least through 2028 (see the graph below):
<a href="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240102/20240103-Estimated-Home-Price-Performance.png" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240102/20240103-Estimated-Home-Price-Performance.png" /></a>
So, why does this matter to you? While the percent of appreciation may not be as high as it was in recent years, what’s important to focus on is that this survey says we’ll see prices rise, not fall, for at least the next 5 years.
And home prices rising, even at a more moderate pace, is good news not just for the market, but for you too. It means, by buying now, your home will likely grow in value, and you should gain home equity in the years ahead. But, if you wait, based on these forecasts, the home will only cost you more later on.
2. Where Do I Think Mortgage Rates Are Heading?
Over the past year, mortgage rates spiked up in response to economic uncertainty, inflation, and more. But there’s an encouraging sign for the market and mortgage rates. Inflation is moderating, and here’s why this is such a big deal if you’re looking to <a href="https://www.mykcm.com/2023/12/12/down-payment-assistance-programs-can-help-pave-the-way-to-homeownership/" rel="noopener noreferrer" target="_blank">buy a home</a>.
When inflation cools, <a href="https://www.mykcm.com/2023/12/20/why-mortgage-rates-could-continue-to-decline/" rel="noopener noreferrer" target="_blank">mortgage rates</a> generally fall in response. That’s exactly what we’ve seen in recent weeks. And, now that the Federal Reserve has signaled they’re pausing their Federal Funds Rate increases and may even cut rates in 2024, experts are even more confident we’ll see mortgage rates come down.
Danielle Hale, Chief Economist at Realtor.com, <a href="https://www.realtor.com/research/federal-reserve-december-2023-meeting/" rel="noopener noreferrer" target="_blank">explains</a>:
“. . . mortgage rates will continue to ease in 2024 as inflation improves and Fed rate cuts get closer. . . . a key factor in starting to provide affordability relief to homebuyers.”
As an article from the National Association of Realtors (NAR) <a href="https://www.nar.realtor/magazine/real-estate-news/economists-turnaround-in-home-sales-likely-in-2024" rel="noopener noreferrer" target="_blank">says</a>:
“Mortgage rates likely have peaked and are now falling from their recent high of nearly 8%. . . . This likely will improve housing affordability and entice more home buyers to return to the market . . .”
No one can say with absolute certainty where mortgage rates will go from here. But the recent decline and the latest decision from the Federal Reserve to stop their rate increases, signals there’s hope on the horizon. While we may see some volatility here and there, <a href="https://www.mykcm.com/2023/10/26/affordable-homeownership-strategies-for-gen-z/" rel="noopener noreferrer" target="_blank">affordability</a> should improve as rates continue to ease.
Bottom Line
If you’re thinking about <a href="https://www.mykcm.com/2023/12/08/your-homebuying-adventure-infographic/" rel="noopener noreferrer" target="_blank">buying a home</a>, you need to know what’s expected with home prices and mortgage rates. While no one can say for certain where they’ll go, making sure you have the latest information can help you make an informed decision. Let’s connect so you can stay up to date on what’s happening and why this is such good news for you
2024-01-08T14:39:45-07:002024-01-08T14:50:56-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:7385Top 3 Questions of Today's Market
When it comes to what’s happening in the <a href="https://www.mykcm.com/2023/11/15/the-latest-2024-housing-market-forecast/" rel="noopener noreferrer" target="_blank">housing market</a>, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you’re thinking about <a href="https://www.mykcm.com/2023/11/13/life-changing-events-that-move-the-housing-market/" rel="noopener noreferrer" target="_blank">making a move</a>, that can leave you with a lot of lingering questions. That’s where a trusted local <a href="https://www.mykcm.com/2023/10/30/a-real-estate-agent-helps-take-the-fear-out-of-the-market/" rel="noopener noreferrer" target="_blank">real estate agent</a> comes in.
Here are the top 3 questions people are asking about today’s housing market, and the data to help answer them.
1. What’s Next for Mortgage Rates?
<a href="https://www.mykcm.com/2023/10/16/are-higher-mortgage-rates-here-to-stay/" rel="noopener noreferrer" target="_blank">Mortgage rates</a> are higher than they’ve been in recent years. And, if you’re looking to buy a home, that impacts how much you can <a href="https://www.mykcm.com/2023/11/16/people-are-still-moving-even-with-todays-affordability-challenges/" rel="noopener noreferrer" target="_blank">afford</a>. That’s why so many <a href="https://www.mykcm.com/2023/10/12/growing-your-net-worth-with-homeownership/" rel="noopener noreferrer" target="_blank">buyers</a> want to know what’s ahead for mortgage rates. The answer to that question is: no one can say for certain, but here’s what we know based on historical trends.
There’s a long-standing relationship between mortgage rates and <a href="https://www.mykcm.com/2023/08/03/how-inflation-affects-mortgage-rates/" rel="noopener noreferrer" target="_blank">inflation</a>. Basically, when inflation is high, <a href="https://www.mykcm.com/2023/09/06/mortgage-rates-past-present-and-possible-future/" rel="noopener noreferrer" target="_blank">mortgage rates</a> tend to follow suit. Over the past year, inflation was up, so mortgage rates were as well. But inflation is easing now. And this is why the Federal Reserve has recently paused their federal funds rate hikes, which means many experts believe mortgage rates will begin to come down.
And in some ways, we’ve started to see hints of slightly lower <a href="https://www.freddiemac.com/pmms" rel="noopener noreferrer" target="_blank">mortgage rates</a> in recent weeks. But it’s certainly been volatile and will likely continue to be that way going into next year. Some ongoing variation is to be expected, but the anticipation is, that in 2024, we’ll see a downward trend. As Aziz Sunderji, Strategist at Home Economics, <a href="https://www.home-economics.us/p/mortgage-rates-are-set-to-fall" rel="noopener noreferrer" target="_blank">says</a>:
“The bottom line is that interest rates are likely to be lower-perhaps even lower than many optimists think - in the weeks and months to come.”
2. Where Are Home Prices Headed?
While there’s been a <a href="https://www.mykcm.com/2023/11/02/dont-believe-everything-you-read-about-home-prices/" rel="noopener noreferrer" target="_blank">lot of concern</a> prices would come crashing down this year, data shows that didn’t happen. In fact, home prices are rising in <a href="https://www.mykcm.com/2023/11/14/home-prices-keep-climbing-in-most-markets/" rel="noopener noreferrer" target="_blank">most of the nation</a>. Experts say that <a href="https://www.mykcm.com/2023/10/23/why-home-prices-keep-going-up/" rel="noopener noreferrer" target="_blank">trend will continue</a>, just at a slower pace that’s much more <a href="https://www.mykcm.com/2023/11/22/home-prices-still-growing-just-at-a-more-normal-pace/" rel="noopener noreferrer" target="_blank">normal</a> for the housing market – and that’s a good thing.
To help show just how <a href="https://www.mykcm.com/2023/09/05/expert-home-price-forecasts-revised-up-for-2023/" rel="noopener noreferrer" target="_blank">confident experts</a> are in this continued appreciation, take a look at the <a href="https://pulsenomics.com/surveys/#home-price-expectations" rel="noopener noreferrer" target="_blank">Home Price Expectation Survey</a> from Pulsenomics. It’s a survey of a national panel of over 100 economists, real estate experts, and investment and market strategists. As the graph below shows, the consensus is, that prices will keep climbing next year, and in the years to come.
<a href="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231127/20231128-Estimated-Home-Price-Performance.png" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231127/20231128-Estimated-Home-Price-Performance.png" /></a>
3. Is a Recession Around the Corner?
While recession talk has been a common thing over the past few years, there’s good news on that front.
The <a href="https://www.wsj.com/economy/economic-forecasting-survey-archive-11617814998" rel="noopener noreferrer" target="_blank">Wall Street Journal</a> (WSJ) polls experts on this topic regularly. And last year at this time, most of them thought a recession would have happened by now. But as experts look at all the leading indicators today, they’re changing their minds and saying a recession is getting less and less likely. The latest results show that more experts now think we’re not headed for another recession (see chart below):
<a href="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231127/20231128-Do-Experts-Think-a-Recession-is-Coming.png" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231127/20231128-Do-Experts-Think-a-Recession-is-Coming.png" /></a>
This is big news for the <a href="https://www.mykcm.com/2023/10/31/foreclosures-and-bankruptcies-wont-crash-the-housing-market/" rel="noopener noreferrer" target="_blank">housing market</a>. And while the 48% to 52% split may seem close to half and half, the key thing to focus on is that the majority of these experts think we’ve avoided a recession already.
Bottom Line
The big takeaway? The data shows there isn’t cause for concern – there are actually more signs of hope. Let’s connect to talk more about the housing market questions on your mind as we head into the new year.
2023-12-05T08:02:51-07:002023-12-05T08:07:29-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:7242Don't Believe Everything You Read About Home Prices According to the latest data from <a href="https://www.fanniemae.com/research-and-insights/surveys-indices/national-housing-survey/national-housing-survey-archive" rel="noopener noreferrer" target="_blank" style="font-size: 17px;">Fannie Mae</a>, 23% of Americans still think <a href="https://www.simplifyingthemarket.com/en/2023/09/26/the-return-of-normal-seasonality-for-home-price-appreciation/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank" style="font-size: 17px;">home prices</a> will go down over the next twelve months. But why do roughly 1 in 4 people feel that way?
It has a lot to do with all the negative talk about home prices over the past year. Since late 2022, the media has created a lot of fear about a <a href="https://www.simplifyingthemarket.com/en/2023/09/27/why-todays-housing-inventory-shows-a-crash-isnt-on-the-horizon/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">price crash</a> and those concerns are still lingering. You may be hearing people in your own life saying they’re worried about home prices or see on social media that some influencers are saying prices are going to come tumbling down.
If you’re someone who still thinks prices are going to fall, ask yourself this: Which is a more reliable place to get your information – clickbait headlines and social media or a trusted expert on the housing market?
The answer is simple. Listen to the professionals who specialize in residential real estate.
Here’s the latest data you can actually trust. Housing market experts acknowledge that nationally, prices did dip down slightly late last year, but that was short-lived. <a href="https://www.fanniemae.com/research-and-insights/surveys-indices/fannie-mae-home-price-index" rel="noopener noreferrer" target="_blank">Data</a> shows prices have <a href="https://www.simplifyingthemarket.com/en/2023/10/03/home-prices-are-not-falling/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">already rebounded</a> this year after that slight decline in 2022 (see graph below):
<a href="https://www.simplifyingthemarket.com/en/content/images/20231030/20231102-Percent-Change-in-Home-Prices.png?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/content/images/20231030/20231102-Percent-Change-in-Home-Prices.png" /></a>
But it’s not just Fannie Mae that’s reporting this bounce back. Experts from across the industry are showing it in their data too. And that’s why so many forecasts now project <a href="https://www.simplifyingthemarket.com/en/2023/09/12/what-experts-project-for-home-prices-over-the-next-5-years/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">home prices</a> will net <a href="https://www.simplifyingthemarket.com/en/2023/09/08/home-price-forecasts-revised-for-2023-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">positive</a> this year – not negative. The graph below helps prove this point with the latest forecasts from each organization:
<a href="https://www.simplifyingthemarket.com/en/content/images/20231030/20231102-2023-Year-End-Home-Price-Forecasts.png?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/content/images/20231030/20231102-2023-Year-End-Home-Price-Forecasts.png" /></a>
What’s worth noting is that, just a few short weeks ago, the Fannie Mae <a href="https://www.fanniemae.com/research-and-insights/forecast" rel="noopener noreferrer" target="_blank">forecast</a> was for 3.9% appreciation in 2023. In the forecast that just came out, that projection was updated from 3.9% to 6.7% for the year. This increase goes to show just how confident experts are that home prices will net positive this year.
So, if you believe home prices are falling, it may be time to get your insights from the experts instead – and they’re saying prices aren’t falling, they’re climbing.
Bottom Line
There’s been a lot of misleading information about home prices over the past year. And that’s still having an impact on how people are feeling about the housing market today. But it’s best not to believe everything you hear or read.
If you want information you can trust, turn to the real estate experts. Their data shows home prices are on the way back up and will net positive for the year. If you have questions about what’s happening in our local area, let’s connect. 2023-11-06T14:35:15-07:002023-11-07T06:51:22-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:7042Are More Homes Coming on The Market? Are More Homes Coming onto the Market?
<img src="https://files.keepingcurrentmatters.com/content/images/20230912/20230918-Are-More-Homes-Coming-onto-the-Market.png" width="600" /><br /><br />
An important factor shaping today’s market is the number of <a href="https://www.simplifyingthemarket.com/en/2023/09/04/why-its-still-a-sellers-market-today/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">homes for sale</a>. And, if you’re considering whether or not to <a href="https://www.simplifyingthemarket.com/en/2023/08/29/why-you-may-still-want-to-sell-your-house-after-all/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">list your house</a>, that’s one of the biggest advantages you have right now. When housing <a href="https://www.simplifyingthemarket.com/en/2023/08/08/theres-only-half-the-inventory-of-a-normal-housing-market-today/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">inventory</a> is this low, your house will stand out, especially if it’s priced right.
But there are some early signs that more listings are coming. According to the latest <a href="https://www.realtor.com/research/data/" rel="noopener noreferrer" target="_blank">data</a>, new listings (homeowners who just put their house up for sale) are trending up. Here’s a look at why this is noteworthy and what it may mean for you.
More Homes Are Coming onto the Market than Usual
It’s well known that the busiest time in the <a href="https://www.simplifyingthemarket.com/en/2023/08/04/housing-market-forecast-for-the-rest-of-2023-infographic-1/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">housing market</a> each year is the spring buying season. That’s why there’s a predictable increase in the volume of newly listed homes throughout the first half of the year. <a href="https://www.simplifyingthemarket.com/en/2023/08/15/equity-is-a-game-changer-for-homeowners-looking-to-sell/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">Sellers</a> are anticipating this and ramping up for the months when buyers are <a href="https://www.simplifyingthemarket.com/en/2023/08/30/buyer-traffic-is-still-stronger-than-the-norm/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">most active</a>. But, as the school year kicks off and as the holidays approach, the market cools. It’s what’s expected.
But here’s what’s surprising. Based on the <a href="https://www.realtor.com/research/data/" rel="noopener noreferrer" target="_blank">latest data</a> from Realtor.com, there’s an increase in the number of sellers listing their houses later this year than usual. A peak this late in the year isn’t typical. You can see both the normal seasonal trend and the unusual August in the graph below:
<a href="https://www.simplifyingthemarket.com/en/content/images/20230912/20230918-New-Listings-Tick-Up.png?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/content/images/20230912/20230918-New-Listings-Tick-Up.png" /></a>As Realtor.com <a href="https://www.realtor.com/research/july-2023-data/" rel="noopener noreferrer" target="_blank">explains</a>:
“While inventory continues to be in short supply, August witnessed an unusual uptick in newly listed homes compared to July, hopefully signaling a return in seller activity heading toward the fall season . . .”
While this is only one month of data, it’s unusual enough to note. It’s still too early to say for sure if this trend will continue, but it’s something you’ll want to stay ahead of if it does.
What This Means for You
If you’ve been putting off selling your house, now may be the sweet spot to make your move. That’s because, if this trend continues, you’ll have more competition the longer you wait. And if your neighbor puts their house up for sale too, it means you may have to share buyers’ attention with that other homeowner. If you sell now, you can beat your neighbors to the punch.
But, even with more homes coming onto the market, the market is still well <a href="https://www.simplifyingthemarket.com/en/2023/08/25/todays-housing-market-has-only-half-the-usual-inventory-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">below normal</a> supply levels. And, that <a href="https://www.simplifyingthemarket.com/en/2023/9/14/why-is-housing-inventory-so-low/?override=K79ZdLFQniS5?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank">inventory deficit</a> isn’t going to be reversed overnight. The graph below helps put this into context, so you can see the opportunity you still have now:
<a href="https://www.simplifyingthemarket.com/en/content/images/20230912/20230918-New-Listing-Count-in-August-Each-Year.png?a=695872-635d25e0150d577ad36fff04916b55e8" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/content/images/20230912/20230918-New-Listing-Count-in-August-Each-Year.png" /></a>
Bottom Line
Even though inventory is still low, you don’t want to wait for more competition to pop up in your neighborhood. You still have an incredible opportunity if you sell your house today. Let’s connect to explore the benefits of selling now before more homes come to the market.2023-09-26T06:54:20-07:002023-09-26T07:46:08-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:5839Where Will You Go After You Sell?<img width="1046" height="2045" src="https://files.mykcm.com/2023/03/02130948/Where-Will-You-Go-After-You-Sell-Your-House-MEM-1046x2045.png" class="attachment-entry size-entry wp-post-image" alt="Where Will You Go After You Sell Your House? [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2023/03/02130948/Where-Will-You-Go-After-You-Sell-Your-House-MEM-1046x2045.png 1046w, https://files.mykcm.com/2023/03/02130948/Where-Will-You-Go-After-You-Sell-Your-House-MEM-307x600.png 307w, https://files.mykcm.com/2023/03/02130948/Where-Will-You-Go-After-You-Sell-Your-House-MEM-524x1024.png 524w, https://files.mykcm.com/2023/03/02130948/Where-Will-You-Go-After-You-Sell-Your-House-MEM-768x1502.png 768w, https://files.mykcm.com/2023/03/02130948/Where-Will-You-Go-After-You-Sell-Your-House-MEM-786x1536.png 786w, https://files.mykcm.com/2023/03/02130948/Where-Will-You-Go-After-You-Sell-Your-House-MEM-1047x2048.png 1047w, https://files.mykcm.com/2023/03/02130948/Where-Will-You-Go-After-You-Sell-Your-House-MEM-100x196.png 100w, https://files.mykcm.com/2023/03/02130948/Where-Will-You-Go-After-You-Sell-Your-House-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" style="font-size: 17px;" />
Some Highlights
If you’re thinking of <a href="https://www.simplifyingthemarket.com/2023/03/01/an-expert-makes-all-the-difference-when-you-sell-your-house/?a=695872-635d25e0150d577ad36fff04916b55e8" title="selling" target="_blank" rel="noopener noreferrer">selling</a> your house, be sure to explore all the options you have for your next home.
Both <a href="https://www.simplifyingthemarket.com/2023/02/15/should-you-consider-buying-a-newly-built-home/?a=695872-635d25e0150d577ad36fff04916b55e8" title="newly built homes" target="_blank" rel="noopener noreferrer">newly built homes</a> and existing homes offer plenty of unique benefits.
If you have questions about the <a href="https://www.simplifyingthemarket.com/2023/02/22/a-smaller-home-could-be-your-best-option/?a=695872-635d25e0150d577ad36fff04916b55e8" title="options" target="_blank" rel="noopener noreferrer">options</a> in our area, let’s discuss what’s <a href="https://www.simplifyingthemarket.com/2023/02/08/number-of-homes-for-sale-up-from-last-year-but-below-pre-pandemic-years/?a=695872-635d25e0150d577ad36fff04916b55e8" title="available" target="_blank" rel="noopener noreferrer">available</a> and what’s right for you. Connect with our team! (616) 705-0014 or kyle@geenenhomes.com
2023-03-28T06:00:00-07:002023-03-14T10:41:17-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:5547Recipe of the MonthEach month, we share a new recipe with you! From dinner to drinks and everything in between--these are some of the Kyle Geenen Group's favorites!
<img src="https://assets.site-static.com/userfiles/1023/image/5.jpg" width="2000" height="1428" />
This month, we are sending you a S'mores Popcorn! We thought something cozy, easy, and delicious was the perfect recipe for March. If you have any March Madness gatherings, bring this along for your friends and family to try!
<img src="https://assets.site-static.com/userfiles/1023/image/6.jpg" width="2000" height="1428" />
As always, we love hearing from you! If you make and love this new recipe, share it with us! Stay tuned because we have some fun recipes for spring and summer coming up! Cheers!2023-01-16T05:00:00-07:002023-03-14T10:35:56-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:5335Your House Could Be The #1 Item on a Homebuyer's Wish List This Season!Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays
<img width="750" height="410" src="https://files.mykcm.com/2022/11/22093516/your-house-could-be-the-number-one-item-on-a-homebuyers-wishlist-during-the-holidays-KCM.jpg" class="attachment-entry size-entry wp-post-image" alt="Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/11/22093516/your-house-could-be-the-number-one-item-on-a-homebuyers-wishlist-during-the-holidays-KCM.jpg 750w, https://files.mykcm.com/2022/11/22093516/your-house-could-be-the-number-one-item-on-a-homebuyers-wishlist-during-the-holidays-KCM-600x328.jpg 600w, https://files.mykcm.com/2022/11/22093516/your-house-could-be-the-number-one-item-on-a-homebuyers-wishlist-during-the-holidays-KCM-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
Each year, homeowners planning to make a move are faced with a decision: sell their house <a href="https://www.simplifyingthemarket.com/2022/11/02/sell-your-house-before-the-holidays/?a=695872-635d25e0150d577ad36fff04916b55e8" title="during the holidays" target="_blank" rel="noopener noreferrer">during the holidays</a> or wait. And others who have already listed their homes may think about removing their listings and waiting until the new year to go back on the market.
The truth is many buyers want to purchase a home for the holidays, and your house might be just what they’re looking for. Here are five great reasons you shouldn’t wait to sell your house.
1. While the <a href="https://www.simplifyingthemarket.com/2022/10/18/the-latest-on-supply-and-demand-in-housing/?a=695872-635d25e0150d577ad36fff04916b55e8" title="supply of homes" target="_blank" rel="noopener noreferrer">supply of homes</a> for sale has increased this year, there still aren’t enough homes on the market to keep up with buyer demand. As Nadia Evangelou, Senior Economist & Director of Forecasting at the National Association of Realtors(NAR), <a href="https://www.msn.com/en-us/money/realestate/soaring-mortgage-rates-get-all-the-attention-but-a-decade-of-underinvestment-in-housing-is-the-big-culprit-behind-the-country-s-affordability-crisis/ar-AA13H2ze" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“There’s still this gap between demand and supply because we were underbuilding for many years. . . . So now we see demand is slowing, but it still outpaces supply.”
2. Serious homebuyers are out looking right now. Millennials are driving homebuying demand today, and many are eager to make a purchase. Mark Fleming, Chief Economist at First American, <a href="https://www.thestreet.com/investing/housing-market-slump-forecast-continues-into-late-2023" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
"While not the frenzy of 2021, the largest living generation, the Millennials, will continue to age into their prime home-buying years, creating a demographic tailwind for the housing market.”
3. The desire to <a href="https://www.simplifyingthemarket.com/2022/11/08/the-majority-of-americans-still-view-homeownership-as-the-american-dream/?a=695872-635d25e0150d577ad36fff04916b55e8" title="own a home" target="_blank" rel="noopener noreferrer">own a home</a> doesn’t stop during the holidays. In fact, homes decorated for the holidays appeal to many buyers. Plus, purchasers who look for homes during the holidays are ready to buy.
4. You can restrict the showings in your house to days and times that are most convenient for you. That can help you minimize disruptions, which is especially important this time of year.
5. Rents have <a href="https://www.census.gov/housing/hvs/files/currenthvspress.pdf" title="skyrocketed" target="_blank" rel="noopener noreferrer">skyrocketed</a> in recent years. And, many buyers are looking to escape <a href="https://www.simplifyingthemarket.com/2022/09/30/why-buying-a-home-may-make-more-sense-than-renting-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" title="rising rents" target="_blank" rel="noopener noreferrer">rising rents</a> and avoid falling into the rental trap for another year. As an article from <a href="https://zillow.mediaroom.com/2022-09-29-Expert-panel-Expect-a-buyers-market-before-the-end-of-2023" title="Zillow" target="_blank" rel="noopener noreferrer">Zillow</a> says:
“Over the next 12 months, rents are expected to grow more than inflation, the stock market and home values."
Your home could be their ticket to leaving renting behind for good.
Bottom Line
There are still many reasons it makes sense to list your house during the holiday season. Let’s connect to determine if selling now is your best move.
2022-11-29T06:45:00-07:002022-11-29T06:50:38-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:4767Why Experts Say The Housing Market Won't CrashWhy Experts Say the Housing Market Won’t Crash [INFOGRAPHIC]
<img width="1046" height="1911" src="https://files.mykcm.com/2022/08/10115546/20220811-MEM-1046x1911.png" class="attachment-entry size-entry wp-post-image" alt="Why Experts Say the Housing Market Won’t Crash [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/08/10115546/20220811-MEM-1046x1911.png 1046w, https://files.mykcm.com/2022/08/10115546/20220811-MEM-328x600.png 328w, https://files.mykcm.com/2022/08/10115546/20220811-MEM-561x1024.png 561w, https://files.mykcm.com/2022/08/10115546/20220811-MEM-768x1403.png 768w, https://files.mykcm.com/2022/08/10115546/20220811-MEM-841x1536.png 841w, https://files.mykcm.com/2022/08/10115546/20220811-MEM-1121x2048.png 1121w, https://files.mykcm.com/2022/08/10115546/20220811-MEM-100x183.png 100w, https://files.mykcm.com/2022/08/10115546/20220811-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" /><br /><br />
Some Highlights
Many people remember the housing crash in 2008, but experts say today’s market is <a href="https://www.simplifyingthemarket.com/2022/08/02/3-graphs-to-show-this-isnt-a-housing-bubble/?a=695872-635d25e0150d577ad36fff04916b55e8" title="fundamentally different" target="_blank" rel="noopener noreferrer">fundamentally different</a> in many ways.
First, there isn’t an <a href="https://www.realtor.com/news/trends/housing-market-showing-signs-of-correction-what-buyers-sellers-need-to-know/" title="oversupply" target="_blank" rel="noopener noreferrer">oversupply</a> of homes for sale today. Plus, <a href="https://www.forbes.com/advisor/mortgages/real-estate/will-housing-market-crash/" title="lending standards" target="_blank" rel="noopener noreferrer">lending standards</a> are much tighter, and homeowners have <a href="https://www.attomdata.com/news/market-trends/home-sales-prices/attom-q1-2022-u-s-home-equity-and-underwater-report/" title="record levels of equity" target="_blank" rel="noopener noreferrer">record levels of equity</a>. That means signs say there won’t be a wave of <a href="https://www.simplifyingthemarket.com/2022/08/08/why-the-forbearance-program-changed-the-housing-market/?a=695872-635d25e0150d577ad36fff04916b55e8" title="foreclosures" target="_blank" rel="noopener noreferrer">foreclosures</a> like the last time.
If you have questions about the housing market, let’s connect.
2022-08-15T08:06:00-07:002022-08-15T08:07:22-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:4681Wondering Where You'll Move If You Sell Your House Today?Wondering Where You’ll Move if You Sell Your House Today?
<img width="750" height="410" src="https://files.mykcm.com/2022/07/15101029/20220718-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Wondering Where You’ll Move if You Sell Your House Today? | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/07/15101029/20220718-KCM-Share.jpg 750w, https://files.mykcm.com/2022/07/15101029/20220718-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/07/15101029/20220718-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a <a href="https://www.simplifyingthemarket.com/2022/06/07/why-the-growing-number-of-homes-for-sale-is-good-for-your-move-up/?a=695872-635d25e0150d577ad36fff04916b55e8" title="good time" target="_blank" rel="noopener noreferrer">good time</a> to get back into the market. That’s because today’s market is <a href="https://www.simplifyingthemarket.com/2022/06/14/is-the-housing-market-correcting/?a=695872-635d25e0150d577ad36fff04916b55e8" title="undergoing a shift" target="_blank" rel="noopener noreferrer">undergoing a shift</a>, and the supply of homes for sale is increasing as a result. That means you may have a better chance of finding a home that will meet your current needs. Here are some options to consider.
Buying an Existing Home Can Give You That Lived-in Charm
According to the National Association of Realtors (NAR), the supply of <a href="https://www.nar.realtor/newsroom/existing-home-sales-fell-3-4-in-may-median-sales-price-surpasses-400000-for-the-first-time" title="existing homes" target="_blank" rel="noopener noreferrer">existing homes</a> (a home that’s been previously owned) has steadily increased since the beginning of the year. The graph below indicates inventory levels are rising, and that’s largely due to <a href="https://www.simplifyingthemarket.com/2022/06/28/a-key-opportunity-for-homebuyers/?a=695872-635d25e0150d577ad36fff04916b55e8" title="more homes" target="_blank" rel="noopener noreferrer">more homes</a> coming onto the market and the pace of sales slowing:
<a href="https://files.mykcm.com/2022/07/15105019/20220718-MEM-Eng-1-.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-103443" src="https://files.mykcm.com/2022/07/15105019/20220718-MEM-Eng-1-.png" alt="Wondering Where You’ll Move if You Sell Your House Today? | MyKCM" width="600" height="450" /></a>
As the graph shows, if you’re looking for a home with lived-in charm, supply is rising, and that’s great news for you.
Danielle Hale, Chief Economist for realtor.com, gives <a href="https://www.realtor.com/research/weekly-housing-trends-view-data-week-june-18-2022/" title="insight" target="_blank" rel="noopener noreferrer">insight</a> into why more homeowners are listing their homes and adding to the growing supply of existing homes today:
“Home sellers in many markets across the country continue to benefit from rising home prices and fast-selling homes. That’s prompted a growing number of homeowners to sell homes this year compared to last, giving home shoppers much needed options. We’ve seen more homes come up for sale this year compared to last year . . .”
There are several benefits to buying an existing home. Many buyers want to purchase a home with history, and the character of older houses is hard to reproduce. Existing homes can often be part of an established neighborhood featuring mature landscaping that can give you additional privacy and boost your curb appeal.
Plus, timing can be a consideration as well. With an existing home, you can move in based on the timeline you agree to with the sellers, rather than building a new home and waiting for construction to finish. This is something to keep in mind, especially if you need to move sooner rather than later.
Just remember, while more sellers are listing their homes, supply is still low overall. That means you’ll have more options to choose from as you search for your next home, but you’ll still need to be prepared for a fast-moving market.
Purchasing a Newly Built or Under Construction Home Means Brand New Everything
Census <a href="https://www.census.gov/construction/nrs/pdf/newressales.pdf" title="data" target="_blank" rel="noopener noreferrer">data</a> shows there’s an increasing number of new homes available for sale. It includes homes that are under construction, soon to be completed, and fully built. As the graph below highlights, the supply of new homes for sale has also grown this year:
<a href="https://files.mykcm.com/2022/07/15105215/20220718-MEM-Eng-2-.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-103445" src="https://files.mykcm.com/2022/07/15105215/20220718-MEM-Eng-2-.png" alt="Wondering Where You’ll Move if You Sell Your House Today? | MyKCM" width="600" height="450" /></a>
When building a new home, you can create your perfect living space and customize it to your lifestyle. That could mean everything from requesting energy efficient options to specific design features. Plus, you’ll have the benefit of all new appliances, windows, roofing, and more. These can all help lower your <a href="https://www.simplifyingthemarket.com/2022/03/25/how-an-energy-efficient-home-can-be-a-bright-idea-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" title="energy costs" target="_blank" rel="noopener noreferrer">energy costs</a>, which can add up to significant savings over time.
The lower maintenance that comes with a newer home is another great advantage. When you have a new home, you likely won’t have as many little repairs to tackle, like leaky faucets, shutters to paint, and other odd jobs around the house. And with new construction, you’ll also have warranty options that may cover portions of your investment for the first few years.
Keep in mind, purchasing a new home could mean waiting a considerable amount of time before you can move. Robert Dietz, Chief Economist and Senior Vice President for Economics and Housing Policy at the National Association of Home Builders (NAHB), <a href="https://eyeonhousing.org/2022/06/new-home-sales-increase-in-may-before-feds-june-rate-rise/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“New single-family home inventory remained elevated at a 7.7 months’ supply. . . . However, only 8.3% of new home inventory is completed and ready to occupy. The remaining have not started construction (25.9%) or are currently under construction.”
That’s an important factor when making your decision and one you should discuss with a trusted real estate advisor. They’ll help you think through all the pros and cons of both new and existing homes to help you arrive at your best decision.
Bottom Line
With the supply of homes for sale rising, you have options for your next home no matter what your preferences are. If you have questions or want help deciding what’s best for you, let’s connect and start the conversation today.
2022-07-25T11:04:00-07:002022-07-25T11:08:29-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:4473Why Home Loans Today Aren't What They Were In The PastWhy Home Loans Today Aren’t What They Were in the Past
<img width="750" height="410" src="https://files.mykcm.com/2022/05/31133557/20220601-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Why Home Loans Today Aren’t What They Were in the Past | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/05/31133557/20220601-KCM-Share.jpg 750w, https://files.mykcm.com/2022/05/31133557/20220601-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/05/31133557/20220601-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
In today’s housing market, many are beginning to wonder if we’re returning to the riskier lending habits and borrowing options that led to the <a href="https://www.simplifyingthemarket.com/2022/04/21/why-this-housing-market-is-not-a-bubble-ready-to-pop/?a=695872-635d25e0150d577ad36fff04916b55e8" title="housing crash" target="_blank" rel="noopener noreferrer">housing crash</a> 15 years ago. Let’s ease those concerns.
Several times a year, the Mortgage Bankers Association (MBA) releases an index titled the <a href="https://www.mba.org/news-and-research/newsroom/news/2022/05/10/mortgage-credit-availability-decreased-in-april" title="Mortgage Credit Availability Index" target="_blank" rel="noopener noreferrer">Mortgage Credit Availability Index</a>(MCAI). According to their website:
“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which indicates the availability of mortgage credit at a point in time.”
Basically, the index determines how easy it is to get a mortgage. The higher the index, the more available mortgage credit becomes. Here’s a graph of the MCAI dating back to 2004, when the data first became available:
<a href="https://files.mykcm.com/2022/06/31151253/20220601-MEM-Eng-1-.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-102749" src="https://files.mykcm.com/2022/06/31151253/20220601-MEM-Eng-1-.png" alt="Why Home Loans Today Aren’t What They Were in the Past | MyKCM" width="600" height="450" /></a>As the graph shows, the index stood at about 400 in 2004. Mortgage credit became more available as the housing market heated up, and then the index passed 850 in 2006. When the real estate market crashed, so did the MCAI as mortgage money became almost impossible to secure. Thankfully, lending standards have eased somewhat since then, but the index is still low. In April, the index was at 121, which is about one-seventh of what it was in 2006.
Why Did the Index Get out of Control During the Housing Bubble?
The main reason was the availability of loans with extremely weak lending standards. To keep up with demand in 2006, many mortgage lenders offered loans that put little emphasis on the eligibility of the borrower. Lenders were approving loans without always going through a verification process to confirm if the borrower would likely be able to repay the loan.
An example of the relaxed lending standards leading up to the housing crash is the FICO® credit score associated with a loan. What’s a FICO® score? The website myFICO <a href="https://www.myfico.com/credit-education/credit-scores" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“A credit score tells lenders about your creditworthiness (how likely you are to pay back a loan based on your credit history). It is calculated using the information in your credit reports. FICO® Scores are the standard for credit scores—used by 90% of top lenders.”<br />
During the housing boom, many mortgages were written for borrowers with a FICO score under 620. While there are still some loan programs that allow for a 620 score, today’s lending standards are much tighter. Lending institutions overall are much more attentive about measuring risk when approving loans. According to the latest <a href="https://www.newyorkfed.org/microeconomics/hhdc" title="Household Debt and Credit Report" target="_blank" rel="noopener noreferrer">Household Debt and Credit Report</a> from the New York Federal Reserve, the median credit score on all mortgage loans originated in the first quarter of 2022 was 776.
The graph below shows the billions of dollars in mortgage money given annually to borrowers with a credit score under 620.
<a href="https://files.mykcm.com/2022/06/31151320/20220601-MEM-Eng-2-.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-102750" src="https://files.mykcm.com/2022/06/31151320/20220601-MEM-Eng-2-.png" alt="Why Home Loans Today Aren’t What They Were in the Past | MyKCM" width="600" height="450" /></a>In 2006, buyers with a score under 620 received $376 billion dollars in loans. In 2021, that number was only $80 billion, and it’s only $20 billion in the first quarter of 2022.
Bottom Line
In 2006, lending standards were much more relaxed with little evaluation done to measure a borrower’s potential to repay their loan. Today, standards are tighter, and the risk is reduced for both lenders and borrowers. These are two very different housing markets, and today is nothing like the last time.
2022-06-10T12:10:00-07:002022-06-10T12:15:52-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:4019Spring Break Staycation: West Michigan EditionSpring Break is an exciting time of year in West Michigan! We are all ready for a little break from our typical winter weather, and heading down south to a warmer climate sounds amazing. However, there is PLENTY to do in our amazing community for all of us staying around here! Check out these great ideas, below!
1. Boulder Ridge Wild Animal Park in Alto, MI:<img src="https://www.boulderridgewap.com/wp-content/uploads/2018/05/unnamed-11.jpg" />
This amazing wild animal park is opening for Spring Break from April 1-10th! The kids of the Kyle Geenen Group love visiting this zoo all summer long!
2. Grand Rapids Children's Museum in Grand Rapids, MI:
<img src="https://static.wixstatic.com/media/bf9945_1d750b7fdf344a1dba6a74e1c2bd3ec2~mv2.png/v1/fill/w_2048,h_1124,al_c,usm_0.66_1.00_0.01,enc_auto/bf9945_1d750b7fdf344a1dba6a74e1c2bd3ec2~mv2.png" alt="SpringBreak_2022_3000x1125.png" />
Don't miss the amazing gift that the GR Children's Museum is to our community! Did you hear? There's a new farm growing soon at the museum and it's opening April 1st! Ready to learn more about the museum?
3. Holland Aquatic Center in Holland, MI:
<img loading="lazy" width="2560" height="1707" src="https://hollandaquatic.org/wp-content/uploads/2022/03/IMG_0223-scaled.jpeg" alt="" title="IMG_0223" srcset="https://hollandaquatic.org/wp-content/uploads/2022/03/IMG_0223-scaled.jpeg 2560w, https://hollandaquatic.org/wp-content/uploads/2022/03/IMG_0223-1280x854.jpeg 1280w, https://hollandaquatic.org/wp-content/uploads/2022/03/IMG_0223-980x653.jpeg 980w, https://hollandaquatic.org/wp-content/uploads/2022/03/IMG_0223-480x320.jpeg 480w" sizes="(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) and (max-width: 1280px) 1280px, (min-width: 1281px) 2560px, 100vw" class="wp-image-5651" />
With both preschool and family splash zone times, this is sure to be a BIG hit for all ages of family members. Soak in the warm air and water of this awesome aquatic center just like you would if you were in Florida!
4. Fredrick Meijer Gardens & Sculpture Park in Grand Rapids, MI:
<img src="https://media-cdn.tripadvisor.com/media/photo-s/05/9f/fc/6c/frederik-meijer-gardens.jpg" jsaction="load:XAeZkd;" jsname="HiaYvf" class="n3VNCb" alt="Butterfly Exhibit - Picture of Frederik Meijer Gardens & Sculpture Park, Grand Rapids - Tripadvisor" data-noaft="1" />
The gardens and sculpture park have extended their hours until 9pm to accomdate all of us staycation friends! There is so much to see, both inside and out, but one of our favorite activities is the Tuesday Night Lights in the Butterfly Gardens.
5. The Critter Barn in Zeeland, MI:
<img src="https://static.wixstatic.com/media/c0abcc_1f5ae30544f14d30b489062d26a1e5c1~mv2_d_4000_2237_s_2.jpg/v1/fill/w_2048,h_1078,al_c,q_90,usm_0.66_1.00_0.01,enc_auto/c0abcc_1f5ae30544f14d30b489062d26a1e5c1~mv2_d_4000_2237_s_2.jpg" alt="" />
Come see the baby animals being born at The Critter Barn! From chicks to goats, sheep to cows, there are so many animals to learn about and explore! An amazing aspect of The Critter Barn is that it's FREE! The Critter Barn's Spring Fling is happening Tuesday through Sunday from 10a-7p.
6. Outdoor Discovery Center and DeGraaf Nature Center in Holland, MI:
Both of these amazing, outdoor focused spaces provide kids with a sense of peace and serenity as they are exploring nature and wildlife. Visit the Birds of Prey at the Outdoor Discovery Center or take a walk through DeGraaf Nature Center and be inspired by the creation all around us!
7. Air Zoo Aerospace & Science Museum in Kalamazoo, MI:
Imagine, explore and discover the Air Zoo's flight centers from 9a-5p Monday through Saturday and noon-5p on Sundays. With over 100 rare aircraft, hands on learning, and exhibits teaching all about life in space, your kids will love what the AirZoo has to offer. A Kyle Geenen Group favorite would definitly be the indoor rides at no additional cost!
8. John Ball Zoo in Grand Rapids, MI:
<img src="https://www.jbzoo.org/uploads/images/media/Opening_Day_Friday_March_25th_slide.png" data-cycle-desc="" />
The zoo is OPEN and the animals are ready to celebrate Spring Break with you! Monday through Friday from 9a-5p, kids and adults can explore the animal exhibits featuring animals from all over the world! John Ball Zoo is featuring two spring break camps for kids of varying ages. And, don't miss their special Super Hero Day on April 7th! Wear your capes and meet your favorite superhero friends as you explore the zoo!
We hope you check out some of these amazing places in West Michigan. As always, have fun and stay safe during your spring break week no matter where you are!
2022-03-31T11:10:00-07:002022-03-31T11:13:29-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:3952Spring Cleaning Checklist For SellersIf you're thinking about selling your house this spring, here are some things you'll want to tackle before you list! Spend your time on tasks that make it feel inviting, show it's cared for, and boost your curb appeal. Take a look below!
<img width="1046" height="1566" src="https://files.mykcm.com/2022/03/16150023/20220318-MEM-1046x1566.png" class="attachment-entry size-entry wp-post-image" alt="Spring Cleaning Checklist for Sellers [INFOGRAPHIC] | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/03/16150023/20220318-MEM-1046x1566.png 1046w, https://files.mykcm.com/2022/03/16150023/20220318-MEM-401x600.png 401w, https://files.mykcm.com/2022/03/16150023/20220318-MEM-684x1024.png 684w, https://files.mykcm.com/2022/03/16150023/20220318-MEM-768x1150.png 768w, https://files.mykcm.com/2022/03/16150023/20220318-MEM-1026x1536.png 1026w, https://files.mykcm.com/2022/03/16150023/20220318-MEM-100x150.png 100w, https://files.mykcm.com/2022/03/16150023/20220318-MEM.png 1300w" sizes="(max-width: 1046px) 100vw, 1046px" />
To determine the full list of items you may want to tackle before selling your house this spring, an expert's opinion is a must. I would love to connect with you to make sure your house shows well this season!2022-03-21T07:00:00-07:002022-03-21T11:36:55-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:3764What Every Seller Needs To Know About Renovating This YearWhat Every Seller Needs To Know About Renovating This Year
<img width="750" height="410" src="https://files.mykcm.com/2022/02/14140918/20220215-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="What Every Seller Needs To Know About Renovating This Year | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/02/14140918/20220215-KCM-Share.jpg 750w, https://files.mykcm.com/2022/02/14140918/20220215-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/02/14140918/20220215-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you’re planning to sell this year, you’re probably thinking about what you’ll need to do to get your house ready to appeal to the most buyers. It’s crucial to work with a trusted real estate professional who knows your local market to get your home ready to sell. But there are a few things you should consider when deciding what to renovate and update before listing this season. Here are three things to keep top of mind as you’re making your list of projects to tackle this year.
1. The Number of Homes for Sale Is Very Low
<a href="https://www.simplifyingthemarket.com/2022/01/20/buyers-want-to-know-why-is-housing-supply-still-so-low/?a=695872-635d25e0150d577ad36fff04916b55e8" title="Housing inventory">Housing inventory</a> sits far below what is normally considered a balanced market. In fact, according to the <a href="https://www.nar.realtor/newsroom/annual-existing-home-sales-hit-highest-mark-since-2006" title="National Association of Realtors" target="_blank" rel="noopener noreferrer">National Association of Realtors</a> (NAR), the latest data indicates inventory is hitting an all-time low. Because there’s such a limited supply of homes available for sale, you’re in a unique position when you sell your house to benefit from multiple offers and a quick process.
But you want to do so while buyers are still scooping homes up as fast as they’re being listed. Spending time and money on renovations before you sell could mean you’ll miss your key window of opportunity. Of course, certain repairs may be important or even necessary. The best way to determine where to spend <a href="https://www.simplifyingthemarket.com/2022/01/14/when-is-the-right-time-to-sell-infographic/?a=695872-635d25e0150d577ad36fff04916b55e8" title="your time">your time</a> – and your money – is to work with a <a href="https://www.simplifyingthemarket.com/2021/12/30/why-selling-your-house-with-a-real-estate-professional-is-essential/?a=695872-635d25e0150d577ad36fff04916b55e8" title="real estate advisor">real estate advisor</a> to confirm which improvements are truly needed and which ones aren’t likely to be deal-breakers for buyers. We'd love to help you!
2. Buyers May Be Willing To Take on Projects When They Purchase Your House
Today, many buyers are more willing to take on home improvement projects themselves to get the house they’re after, even if it means putting in a little extra work. A <a href="https://myhome.freddiemac.com/blog/homeownership/breathing-new-life-old-buying-fixer-upper-and-distressed-homes" title="recent survey" target="_blank" rel="noopener noreferrer">recent survey</a> from Freddie Mac finds that:
“. . . nearly two-in-five potential homebuyers would consider purchasing a home requiring renovations.”
If more buyers are willing to tackle repairs on their own, it may be wise to let the future homeowners remodel the bathroom or the kitchen to make design decisions that are best for their specific taste and lifestyle. Depending on the structural condition of your house, your efforts may be better spent working on small cosmetic updates, like refreshing some paint and power washing the exterior to make sure the home stands out. Instead of over-investing in upgrades, the buyer may change anyway, work with a real estate professional to determine the key projects to tackle that will give you the greatest return on your investment.
3. Your Agent Will Help You Spotlight the Upgrades You’ve Made
Over the past year, many people made a significant number of updates to their homes. The most recent <a href="https://www.angi.com/research/reports/spending/#ixzz7Ie5OiQjX" title="State of Home Spending" target="_blank" rel="noopener noreferrer">State of Home Spending</a> report finds:
“Home improvement spending rose 25% year-over-year to $10,341. Homeowners who invested in home improvement did an average of 3.7 projects, up from 2.7 in 2020, . . .”
With more homeowners taking on more projects in the past 12 months, there’s a good chance you’ve already made updates to your home that could appeal to buyers. If that’s the case, we will find ways to highlight those upgrades in your listing.
The same is true for any projects you invest in moving forward. No matter what, before you renovate, contact us for expert advice on what work needs to be done and how to make it as appealing as possible to future buyers. Every home is different, so a conversation together is mission-critical to make sure you make the right moves when selling this season.
Bottom Line
In a sellers’ market like today’s, it’s important to spend your time and money wisely when you’re getting ready to move. Let’s connect so you can find out where to target your efforts before you list.
2022-02-16T07:26:00-07:002022-02-16T07:27:48-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:3639Right Now Is a Once-in-a-Lifetime Opportunity for SellersWhy Right Now Is a Once-in-a-Lifetime Opportunity for Sellers
<img src="https://assets.site-static.com/userfiles/1023/image/geenengroup21-105.jpg" width="3632" height="5276" /><br /><br />
If you’re thinking about selling your house in 2022, you truly have a once-in-a-lifetime opportunity at your fingertips. When selling anything, you always hope for strong demand for the item coupled with a limited supply. That maximizes your leverage when you’re negotiating the sale. Home sellers are in that exact situation right now. Here’s why.
Demand Is Very Strong
According to the latest <a href="https://www.nar.realtor/newsroom/annual-existing-home-sales-hit-highest-mark-since-2006" title="Existing Home Sales Report" target="_blank" rel="noopener noreferrer">Existing Home Sales Report</a> from the National Association of Realtors (NAR), 6.18 million homes were sold in 2021. This was the largest number of home sales in 15 years. Lawrence Yun, Chief Economist for NAR, explains:
“Sales for the entire year finished strong, reaching the highest annual level since 2006. . . . With mortgage rates expected to rise in 2022, it's likely that a portion of December buyers were intent on avoiding the inevitable rate increases.”
Demand isn’t expected to weaken this year, either. In addition, the <a href="https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary" title="Mortgage Finance Forecast" target="_blank" rel="noopener noreferrer">Mortgage Finance Forecast</a>, published last week by the Mortgage Bankers’ Association (MBA), calls for existing-home sales to reach 6.4 million homes this year.
Supply Is Very Limited
The same sales report from NAR also reveals the months’ supply of inventory just hit the lowest number of the century. It notes:
“Total housing inventory at the end of December amounted to 910,000 units, down 18% from November and down 14.2% from one year ago (1.06 million). Unsold inventory sits at a 1.8-month supply at the present sales pace, down from 2.1 months in November and from 1.9 months in December 2020.”
The reality is, inventory decreases every year in December. That’s just how the typical seasonal trend goes in real estate. However, the following graph emphasizes how this December was lower than any other December going all the way back to 1999.
<a href="https://files.mykcm.com/2022/01/26135022/20220127-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-100834" src="https://files.mykcm.com/2022/01/26135022/20220127-MEM-Eng-1.png" alt="Why Right Now Is a Once-in-a-Lifetime Opportunity for Sellers | MyKCM" width="600" height="450" /></a>
Right Now, Sellers Have Maximum Leverage
As mentioned above, when there’s strong demand for an item and a limited supply of it available, the seller has maximum <a href="https://www.simplifyingthemarket.com/2021/11/02/sellers-have-incredible-leverage-in-todays-market/?a=695872-635d25e0150d577ad36fff04916b55e8" title="leverage">leverage</a> in the negotiation. In the case of homeowners who are thinking about selling, there may never be a better time than right now. While demand is this high and <a href="https://www.simplifyingthemarket.com/2022/01/20/buyers-want-to-know-why-is-housing-supply-still-so-low/?a=695872-635d25e0150d577ad36fff04916b55e8" title="inventory">inventory</a> is this low, you’ll have leverage in all aspects of the sale of your house.
Today’s buyers know they need to be <a href="https://www.simplifyingthemarket.com/2021/12/28/5-tips-for-making-your-best-offer-on-a-home?a=695872-635d25e0150d577ad36fff04916b55e8" title="flexible negotiators">flexible negotiators</a> that make very <a href="https://www.simplifyingthemarket.com/2021/09/27/if-youre-a-buyer-is-offering-asking-price-enough/?a=695872-635d25e0150d577ad36fff04916b55e8" title="competitive offers">competitive offers</a>, so here are a few areas that could tip in your favor when your house goes on the market:
Competitive sales price
Flexible closing date
Potential for a leaseback to allow you more time to find a home
Minimal offer contingencies
Bottom Line
If you’re thinking of selling your house this year, now is the optimal time to list it. Let’s connect to discuss how you can put your house on the market today!
2022-02-04T08:00:00-07:002022-01-31T10:09:38-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:3507Expert Insights On The 2022 Housing Market<img src="https://assets.site-static.com/userfiles/1023/image/20210222-KCM-Share.jpg" width="750" height="410" />
As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022.
Odeta Kushi, Deputy Chief Economist, First American:<br />“Consensus forecasts put rates at about 3.7% by the end of next year. So, that's still historically low, but certainly higher than they are today.”
Danielle Hale, Chief Economist, realtor.com:<br />“Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise. And with more than 45 million millennials within the prime first-time buying ages of 26-35 heading into 2022, we expect the market to remain competitive.”
Lawrence Yun, Chief Economist, National Association of Realtors (NAR):<br />“With more housing inventory to hit the market, the intense multiple offers will start to ease. Home prices will continue to rise but at a slower pace.”
George Ratiu, Manager of Economic Research, realtor.com:<br />“We also expect a growing number of homeowners to bring properties to market, taking some pressure off high prices and offering buyers more options.”
Mark Fleming, Chief Economist, First American:<br />“Strong demographic demand will continue to act as the wind in the housing market’s sails.”
What Does This Mean for Buyers?<br />Hope is on the horizon for 2022. You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Just remember, rising rates and prices are a great motivator for you to find the home of your dreams sooner rather than later so you can buy while today’s affordability is still in your favor.
What Does This Mean for Sellers?<br />Make no mistake – this sellers’ market will remain in 2022 as home prices are projected to continue climbing, just at a more moderate pace. Selling your house while buyer demand is so high will truly put you in the driver’s seat. But don’t wait too long. With more listings projected to become available, your ideal window of opportunity to stand out from the crowd won’t last forever. Work with an agent who knows your local market and current inventory conditions to ensure you have the support you need to make an educated and informed decision about selling in the coming year. We are here to help you through each step of the home selling process!
Bottom Line<br />If you’re thinking of buying or selling, 2022 may be your year. Let’s connect to discuss your goals and the unique opportunities you have in today’s housing market! 616-795-0014 or kyle@geenenhomes.com2022-01-07T07:00:00-07:002022-01-07T06:54:10-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2938The Benefits of Lake Michigan Living<img src="https://assets.site-static.com/userfiles/1023/image/adam-bouse-d6e8U8myhWs-unsplash.jpg" width="4032" height="2268" />
Chances are, if you’re like most of us, the thought of a comfortable, peaceful paradise retreat for a home is of high interest! When it comes to finding such a place to call home, look no further than the shores of Lake Michigan! Considered a hidden gem, the coastline of Lake Michigan is a place of beauty and wonder that offers some serious benefits to those that live along it!
Now the most obvious benefit to living on the lake is proximity and access to water at all times. There are a number of neighborhoods that have specific, deeded access to Lake Michigan for their residents. However, if you don’t live in one of those neighborhoods there are also several <a href="https://www.miottawa.org/parks/parks.htm">public parks and beaches</a> that allow for public access and enjoyment of the lake! You can also take it up one notch and live in a private home on the lake with its own beach!
Living in a home on Lake Michigan that is not in a neighborhood also offers some definite perks. The ability to have a home directly on the water, with amazing views, private beach, and general privacy from neighbors are all major upsides to the lake life! Waterfront real estate also is prime real estate, meaning they typically see higher appreciation rates and command higher sums when going to sell.
Finally, living on Lake Michigan (or any lake for that matter) can have some serious health benefits. Not only does it offer a great way to get some exercise through swimming, kayaking, etc., living on the lake can help reduce stress. <a href="https://www.apa.org/news/press/releases/stress/2020/report-october">Stress levels have been shown to be climbing</a> over the last few decades and by providing yourself a retreat and way to relax you’ll end up lowering your stress levels which in turn can lead to benefits like better sleep!
There are plenty of benefits to and reasons for living on Lake Michigan, but these are some of the main reasons that draw people into living the lake life!
For more thoughts on real estate and the West Michigan area, subscribe to our blog and newsletter!2021-07-27T11:23:00-07:002021-07-28T12:43:41-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2857Your West Michigan Summer Bucket List<img src="https://assets.site-static.com/userfiles/1023/image/Best%20Summer%20Ever.jpg" width="5472" height="3648" />
There’s nothing quite like summer in West Michigan. We are spoiled to have the best weather and amazing events and amenities to go along with it! If you’re looking for ways to keep yourself, your kids, or both entertained this summer - we’ve got you covered! Check out our West Michigan Summer Bucket List below!
4th of July Fireworks Downtown Grand Rapids
There’s nothing quite like the <a href="https://4thofjulygr.com/">4th of July fireworks display</a> on the river in downtown Grand Rapids. All over the city you have opportunities to watch the fireworks from roof tops, restaurants, and patios. If you want a truly unique experience, you can even rent out rooms on the river side of the J.W. Marriot and Amway Grand, on the 17th floor or above, and watch the fireworks at eye level or from the above!
Beach Day at Holland State Park
It’s no secret that us Michiganders love a good summer beach day, and there are few better beaches in West Michigan than <a href="https://www.holland.org/holland-state-park-0">Holland State Park</a>! You’ll find a large expansive beach where you can watch boats go in and out of the channel, watch sunset off the pier, and enjoy ice cream from the shop on the beach. A short walk down the boardwalk and you’ll find yourself at the <a href="https://www.ottawabeachgeneralstore.com/">Ottawa Beach General Store</a> on Lake Macatawa, which is a beach day staple for treats and supplies!
Walk the Boardwalk in Grand Haven
Another West Michigan summer must do is walking the <a href="https://visitgrandhaven.com/listing/grand-haven-boardwalk/">boardwalk in Grand Haven</a>! Starting at the heart of the city, you can take the boardwalk all the way to the pier and beach to watch the sunset. Along the way you can grab ice cream from <a href="http://sweet-temptations.com/">Temptations</a>, a Pronto Pup, or a treat from any of the numerous other shops and restaurants! Cap your walk off with a sunset on the pier and it’ll be a night to remember!
Summer Concert Series at Fredrik Meijer Gardens
Every summer Fredrik Meijer Gardens draws in thousands of visitors, but not everyone comes just to see the beautiful exhibits. Believe it or not, Frederik Meijer Gardens is also an incredible performance venue that boasts an amazing concert series every summer! If you’re looking to enjoy a top tier musical performance in an intimate and incredible venue, then catching a show here is a must! You can take a look at their line up for summer 2021 <a href="https://www.meijergardens.org/calendar/summer-concerts-at-meijer-gardens/">here</a>!
Float Down the Muskegon River
There’s little better than taking an afternoon midweek to grab your inner tube, a couple of friends, and float down the Muskegon River! A favorite spot to do this is near Newaygo! There are multiple businesses that will even supply innertubes and shuttle you to the drop off point up-river so that you can simply enjoy the day and float back to your car! <a href="https://www.pinkystubesmi.com/">Pinkies Tubes</a> is a great option if this sounds up your alley!
Ice Cream at Captain Sundae
For anyone that has spent any time in West Michigan, you know that this is a summer staple along the lake shore. Popular with everyone (even past presidents) <a href="https://www.captainsundae.net/">Captain Sundae</a> is a summer tradition! Be sure to stop in and try one of their legendary ice cream concoctions!
The Holland Farmers Market
Open every Wednesday and Saturday, the <a href="http://www.hollandfarmersmarket.com/">Holland Farmers Market</a> is the go to spot for fresh produce and high quality goods! With over 65 different vendors and everything from fresh produce to flowers, plants, baked goods, meats, and chesses – there is something for everyone to enjoy!
Saugatuck Dune Rides
Arguably one of the best kept secrets in West Michigan, <a href="https://www.saugatuckduneride.com/">Saugatuck Dune Rides</a> is a must this summer! Grab the family and strap into the open top dune scooter to enjoy an hour-long excursion along Lake Michigan’s shoreline! You’ll climb tall dunes and ride through stunning forests while also learning a bit more about the history of the area!
John Ball Zoo
Spreading out over 31 acres and hosting over 2,200 individual animals, <a href="https://www.jbzoo.org/">John Ball Zoo</a> has entertainment for all ages! With designated children’s exhibits and adult night out events everyone has something to look forward to!
Hike and Bike at Riley Trails
Get out and get active by hiking or biking at Riley Trails on Holland’s Northside! Situated on over 300 acres you’ll be able to spend time in a beautiful natural forest setting for hiking, biking, and fishing. Get outside and enjoy some of the beautiful summer weather!
Grand Rapids Children Museum and Public Museum
Education can be fun, hands on, and also feel like play! Be sure to visit <a href="https://www.grcm.org/">the Grand Rapids Children’s Museum</a> as well as the <a href="https://www.grpm.org/">Grand Rapids Public Museum</a> this summer for fun, hands on learning experiences! Ride the carousel at the Public Museum after looking at over three floors of exhibits and experience the ever changing and engaging play exhibits at the Children’s Museum! Both are a great way to get out of the house but also continue learning this summer!
Holland Street Performers
Every Thursday night the City of holland shuts down traffic on downtown 8th st, transforming it into a pedestrian only entertaining area that is full of street performers! With talent ranging from aerialists, to musicians, dancers, and magicians The <a href="https://www.holland.org/summer-street-performer-series">Summer Street Performer Series</a> is a must do!
Outdoor Discovery Center De Witt Birds of Prey
Seize the opportunity to get up close and personal with nature by <a href="https://outdoordiscovery.org/outdoordiscoverycenter/visit/birds-of-prey/">Visiting the Outdoor Discovery Center and the De Witt Birds of Prey Exhibit!</a> The exhibit and center are free to visit 7 days a week, providing a fun and informational experience for all ages!
Hudsonville Community Fair
The <a href="https://www.hudsonville-fair.com/">Hudsonville Community Fair</a> is widely regarded as one of the best summer activities in West Michigan! At the fair you can expect to find a variety of carnival rides and games, as well as Motor cross, tractor pulls, demolition derby, and livestock show to name a few of the attractions. This year, the 2021 fair is August 23-28 so be sure to stop by and fill your craving for junk food!
White Caps Baseball
West Michigan is known for its minor league sports teams. In fact, in 2019 Grand Rapids was named the #1 Minor League Sports Team Market in America! A night at the LMCU Ball Park to Watch the <a href="https://www.milb.com/west-michigan">White Caps</a> is a tradition of many families in West Michigan. With a different theme almost every night and promotions like dime dog night, the entire family will have a blast!2021-06-30T09:27:00-07:002021-06-30T12:12:12-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:27854 Landscaping Tips to Add Massive Curb Appeal to Your Home!<img src="https://assets.site-static.com/userfiles/1023/image/daniel-watson-8vBpYpTGo90-unsplash.jpg" width="4538" height="3006" />
Landscaping and lawncare. As a homeowner, you either hate it or you love it. Some people find the taming of nature and steady labor cathartic, others dread it to the point of finding ridiculous excuses not to do it. It’s understandable! A lot can go into getting that pristine yard that makes you the envy of the neighborhood. Luckily for you, dear homeowner, we have a couple of easy hacks for you to use and get on the right track.
Sometimes Less is More
We all know the age-old adage that ‘less is more’. In the case of landscaping that can often be true! It’s one thing if you have a large estate or property, then by all means go wild, but for the vast majority of home owners that simply isn’t the case. For most homes, you have limited space to work with when it comes to a yard and landscaping. It’s a delicate balance between having lots of beautiful landscaping but also not making the lot and yard feel overgrown, which is why we say that sometimes less is more.
By choosing and installing landscape design options that don’t overpower the home and yard, you’ll compliment your home and increase curb appeal. Instead of installing large hazel or evergreen, think about opting for boxwoods. Pick things that are easy to maintain and are size appropriate with little trimming required.
Thinking About The Small Things Goes a Long Way
Thinking about the small details in life normally can be the difference between something being good and great and this principle applies to your lawn as well. One of the easiest, but often most overlooked things when it comes to maintaining your lawn is edging. By edging places where your lawn meets a hard surface, you’ll create nice clean lines and contours that will be the envy of your neighbors.
Play It Smart
We’ve also all heard the phrase ‘work smarter, not harder’. When it comes to your lawn, there is a simple way to work smarter that you only have to do once. If you have underground sprinkling, you can take your lawn from good to great by simply changing the time of when your sprinklers go off. The ideal time for your lawn to be watered is between 4am and 10am. If you’ve already set up your timers for then, great you’re one step ahead, but if you’re watering during the middle of the day or night, you’re doing yourself and your lawn a disservice.
If you water during the day you aren’t giving your lawn the proper ability to absorb nutrients and water, and if you water too late at night your lawn can become prone to disease due to the inability to dry out! By watering between 4am and 10am you’ll set your lawn up to look its best, and all you have to do is change a dial!
Be Consistent
Consistency is a huge part of life and it has some amazing power! This tip isn’t rocket science and you can take it at face value. By being consistent and doing small tasks each week or day, you’ll be able to keep your lawn and landscaping looking top notch!
If you combine these easy tips this summer ,you’ll thank yourself, and the Geenen Group, when your lawn becomes the envy of the neighborhood!2021-05-28T12:22:00-07:002021-05-28T12:39:31-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2742The Power of a Mortgage Pre-approval<img src="https://assets.site-static.com/userfiles/1023/image/The_Power_of_a_Mortgage_Pre-Approval.jpg" width="7360" height="4912" />
If you’re like most people looking to buy a home, chances are you’ll be getting a mortgage. Maybe that mortgage is for a small portion of the purchase price or a larger amount. Either way, in order to put an offer in on a home you’ll need both a pre-approval and a full approval from a mortgage loan officer at a bank or other lending institution!
The next obvious question is ‘what is a pre-approval’? A mortgage pre-approval means that a lender has reviewed your finances and determined how much you’re qualified to borrow. When a lender reviews your finances there are a few main things that they will look at, those things include: Income, debt, assets, credit history and score, and employment. Let’s take a look at each of those items.
Income
This one is a bit obvious, but in order for any financial institution to loan out money, they have to know what the income of the lendee is so that they can give know how much debt can be taken on and supported.
Debt
Typically lenders will not loan money that requires monthly payments that exceeds 43% of the lendees monthly income. What this means is that for the monthly payments on the debt, the total amount of debt that a lendee has should not be more than 43% of their net monthly income. For example, if you make $1000 a month in your paychecks after taxes and have no other debt commitments that show up on a credit report (like a car payment) then the lending institution will loan you a sum that, with interest, payments will not exceed $430 a month.
Credit History
Credit history is used to show your perceived trustworthiness as a lendee. You receive a credit score the moment that you take on some type of debt or line of credit – think credit card. The more consistently you pay off or pay down that debt and also the amount of debt you have will dictate what your credit score is. Usually, a credit score of 620 or higher is required to lend to an individual – although there are exceptions.
Assets
Lending institutions also need to know how much lendees plan to put down on their mortgage, and to make sure they can afford the down payment or cover the loan the lenders look at the assets owned held and owned by the lendee.
Employment
Lending institutions need to make sure that whomever they are lending money to also has a steady income in order to pay back the loan. Without properly documented income that is expected to continue into the future, the chances or getting a loan become slim. However, there are a number of different income situations like salary, commission, k-1, and trusts. The best thing you can do is consult with your loan officer
In today’s market, asking your realtor for to connect you with a Loan Officer before you start looking at homes is one of the best things you can do. Not only does it allow you to understand what your budget is, but having a full pre-approval makes your offer that much more competitive as sellers can be confident knowing that you are a strong buyer! If you're looking to buy and get a mortgage, refinance or have questions about lending, we would love to help connect you with a lender as a resource!
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The Geenen Group, LLC. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Geenen Group, LLC. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.2021-05-12T09:07:00-07:002021-05-12T10:30:13-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:27104 Tips to Maximize the Sale of Your Home<img src="https://assets.site-static.com/userfiles/1023/image/4_Tips_for_Selling_Your_Home_Cover_Photo.png" width="750" height="462" />
4 Tips to Maximize the Sale of Your Home
Homeowners ready to make a move are definitely in a great position to sell today. Housing inventory is incredibly low, driving up buyer competition. This gives homeowners <a href="https://www.mykcm.com/2021/02/24/how-much-leverage-do-todays-house-sellers-have/" title="leverage">leverage</a> to sell for the best possible terms, and it’s fueling a steady rise in home prices.
In such a hot market, houses are selling quickly. According to the National Association of Realtors (NAR), homes are typically on the market for just <a href="https://www.nar.realtor/newsroom/housing-market-reaches-record-high-home-price-and-gains-in-march" title="18" target="_blank" rel="noopener noreferrer">18</a> short days. Despite the speed and opportunity for sellers, there are still steps you can take to prep your house to shine so you get the greatest possible return.
1. Make Buyers Feel at Home
One of the ways to make this happen is to take time to declutter. Pack away any personal items like pictures, awards, and sentimental belongings. The more neutral and tidy the space, the easier it is for a buyer to picture themselves living there. According to the <a href="https://cdn.nar.realtor/sites/default/files/documents/2021-profile-of-home-staging-report-04-06-2021.pdf" title="2021 Profile of Home Staging" target="_blank" rel="noopener noreferrer">2021 Profile of Home Staging</a> by NAR:
“82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”
Not only will your house potentially attract the attention of more buyers and likely sell quickly, but the same report also notes:
“Eighteen percent of sellers’ agents said home staging increased the dollar value of a residence between 6% and 10%.”
As Jessica Lautz, Vice President of Demographics and Behavior Insights for NAR, <a href="https://magazine.realtor/daily-news/2021/04/06/nar-survey-design-shows-raise-buyer-expectations" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“Staging a home helps consumers see the full potential of a given space or property…It features the home in its best light and helps would-be buyers envision its various possibilities.”
2. Keep It Clean
On top of making an effort to declutter, it’s important to keep your house neat and clean. Before a buyer stops by, be sure to pick up toys, make the beds, and wash the dishes. This is one more way to reduce the number of things that can distract a buyer from the appeal of the home.
Ensure your home smells fresh and clean as well. Buyers will remember the smell of your house, and according to the same report from NAR, the kitchen is one of the most important rooms of the house to focus on if you want to attract more buyers.
3. Give Buyers Access
Buyers are less likely to make an offer on your house if they aren’t able to easily schedule a time to check it out. If your home is available anytime, that opens up more opportunities for multiple buyers to go from curious to eager. It also allows buyers on tight schedules to still get in to see your house.
While health continues to be a great concern throughout the country, it’s important to work with your agent to find the best <a href="https://www.mykcm.com/2020/11/13/tips-to-sell-your-house-safely-right-now-infographic/" title="safety measures">safety measures</a> and digital practices for your listing. This will drive visibility and create access options that also keep everyone in the process safe.
4. Price It Right
Even in a sellers’ market, it’s crucial to set your house at the <a href="https://www.mykcm.com/2020/12/28/why-its-important-to-price-your-house-right-today/" title="right price">right price</a> to maximize selling potential. Pricing your house too high is actually a detriment to the sale. The goal is to drive high attention from competing buyers and let bidding wars push the final sales price up.
Work with your trusted real estate professional to determine the best list price for your house. Having an expert on your side in this process is truly essential.
Bottom Line
If you want to sell on your terms, in the least amount of time, and for the best price, today’s market sets the stage to make that happen. Let’s connect today to determine the best ways to maximize the sale of your house this year.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The Kyle Geenen Group, LLC. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Kyle Geenen Group, LLC. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.2021-04-27T07:34:00-07:002021-04-27T07:56:49-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2468Thinking Of Building In 2021? Here Are 5 Reasons To Have A Realtor Help You!<img src="https://assets.site-static.com/userfiles/1023/image/5_Reasons_You_Should_Use_A_Realtor_To_Buy_A_NEw_Build.jpg" width="1024" height="698" />
Thinking of Building in 2021? Here Are 5 Reasons You Should Have Your Realtor Help You!
Often the thought of building a new home can be intimidating. There’s a lot of unknowns and the average buyer doesn’t usually have the specialized knowledge to go in with confidence. That’s where we come in. In this blog, we lay out 5 reasons that you should use a Realtor when buying new construction!
The New Home Specialist works for the builder, not really you. While they are certainly there to be helpful and ask questions, ultimately their job is to sell the home for the best profit. This reason alone should make you want to bring your own representation. Lucky for you, it doesn’t actually cost you anything to bring your realtor along with you and have them help and represent you!
Negotiation, terms, and contracts. One thing that most people don’t know is that there is actually a bit of wiggle room for negotiations with builders in certain areas! Involving an experienced agent can save you some money in the short and long term.
There are more options than when you were 8 years old and trying to pick a candy in the store.Building might sound pretty straight forward from the outside, but once you’re in the nitty gritty there are seemingly ENDLESS options! From design selections to incentives, lenders, and packages – an experienced agent can be a great sounding board and resource as you work through all your decisions.
Potholes. No Deal is without its hiccups, or potholes if you will (since we are in Michigan after all). Having an agent that knows the industtry standards and thow things should be done will make navigating those pesky potholes a little easier.
Making it to the finish line. Making it to the finishline and having a successful close is the goal of every deal. While there are going to undoubtedly be some potholes in the road, a good agent will hold your hand and help you navigate through them until you cross the finishline and have a succesful closing!
2021-03-30T07:23:00-07:002021-03-30T07:47:17-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2367Where Have All The Houses GoneWhere Have All the Houses Gone?
<img src="https://assets.site-static.com/userfiles/1023/image/20210222-KCM-Share.jpg" width="750" height="410" />
In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage rates and purchase a home, housing inventory dropped even further. Experts consider this to be the biggest challenge facing an otherwise hot market while buyers continue to compete for homes. As Danielle Hale, Chief Economist at realtor.com, <a href="https://www.realtor.com/research/weekly-housing-trends-view-data-week-feb-6-2021/" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“With buyers active in the market and seller participation lagging, homes are selling quickly and the total number available for sale at any point in time continues to drop lower. In January as a whole, the number of for sale homes dropped below 600,000.”
Every month, realtor.com releases new <a href="https://www.realtor.com/research/data/" title="data" target="_blank" rel="noopener noreferrer">data</a> showing the year-over-year change in inventory of existing homes for sale. As you can see in the map below, nationwide, inventory is 42.6% lower than it was at this time last year:<a href="https://files.mykcm.com/2021/02/18152014/20210222-MEM-Eng-1.jpg" rel="noopener noreferrer" class="use_kcm_lightbox" target="_blank"><img loading="lazy" class="aligncenter wp-image-97316" src="https://files.mykcm.com/2021/02/18152014/20210222-MEM-Eng-1.jpg" alt="Where Have All the Houses Gone? | MyKCM" width="600" height="450" srcset="https://files.mykcm.com/2021/02/18152014/20210222-MEM-Eng-1.jpg 1000w, https://files.mykcm.com/2021/02/18152014/20210222-MEM-Eng-1-600x450.jpg 600w, https://files.mykcm.com/2021/02/18152014/20210222-MEM-Eng-1-768x576.jpg 768w, https://files.mykcm.com/2021/02/18152014/20210222-MEM-Eng-1-100x75.jpg 100w" sizes="(max-width: 600px) 100vw, 600px" /></a>
Does this mean houses aren’t being put on the market for sale?
Not exactly. While there are fewer existing homes being listed right now, many homes are simply selling faster than they’re being counted as current inventory. The market is that competitive! It’s like when everyone was trying to find toilet paper to buy last spring and it was flying off the shelves faster than it could be stocked in the stores. That’s what’s happening in the housing market: homes are being listed for sale, but not at a rate that can keep up with heavy demand from competitive buyers.
In the same realtor.com report, Hale explains:
“Time on the market was 10 days faster than last year meaning that buyers still have to make decisions quickly in order to be successful. Today’s buyers have many tools to help them do that, including the ability to be notified as soon as homes meeting their search criteria hit the market. By tailoring search and notifications to the homes that are a solid match, buyers can act quickly and compete successfully in this faster-paced housing market.”
The Good News for Homeowners
The health crisis has been a major reason why potential sellers have held off this long, but as vaccines become more widely available, homeowners will start making their moves. Ali Wolf, Chief Economist at Zonda, <a href="https://www.realtor.com/news/trends/vaccines-housing-market/" title="confirms" target="_blank" rel="noopener noreferrer">confirms</a>:
“Some people will feel comfortable listing their home during the first half of 2021. Others will want to wait until the vaccines are widely distributed.”
With more homeowners getting ready to sell later this year, putting your house on the market sooner rather than later is the best way to make sure your listing shines brighter than the rest.
When you’re ready to sell your house, you’ll likely want it to sell as quickly as possible, for the best price, and with little to no hassle. If you’re looking for these selling conditions, you’ll find them in today’s market. When demand is high and inventory is low, <a href="https://www.mykcm.com/2020/12/10/why-it-makes-sense-to-sell-your-house-this-holiday-season/" title="sellers">sellers</a> have the ability to create optimal terms and timelines for the sale, making now an exceptional time to move.
Bottom Line
Today’s housing market is a big win for sellers, but these conditions won’t last forever. If you’re in a position to sell your house now, you may not want to wait for your neighbors to do the same. Let’s connect to discuss how to sell your house <a href="https://www.mykcm.com/2020/11/13/tips-to-sell-your-house-safely-right-now-infographic/" title="safely">safely</a> so you’re able to benefit from today’s high demand and low inventory.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The Kyle Geenen Group, LLC does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Kyle Geenen Group, LLC will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.2021-02-22T10:15:00-07:002021-02-22T10:51:37-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2362Do I Really Need a 20% Down Payment to Buy a Home?
<img src="https://assets.site-static.com/userfiles/1023/image/20210203-KCM-Share.jpg" width="750" height="410" />
Is the idea of saving for a down payment holding you back from buying a home right now? You may be eager to take advantage of today’s <a href="https://www.mykcm.com/2021/01/19/should-i-wait-for-lower-mortgage-interest-rates/" title="low">low</a> mortgage rates, but the thought of needing a large down payment might make you want to pump the brakes. Today, there’s still a common myth that you have to come up with 20% of the total sale price for your down payment. This means people who could buy a home may be putting their plans on hold because they don’t have that much saved yet. The reality is, whether you’re looking for your first home or you’ve purchased one before, you most likely don’t need to put 20% down. Here’s why.
According to <a href="https://sf.freddiemac.com/articles/insights/down-payments-helping-future-borrowers-bridge-the-awareness-gap" title="Freddie Mac" target="_blank" rel="noopener noreferrer">Freddie Mac</a>:
“The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.”
If saving that much money sounds daunting, potential homebuyers might give up on the dream of homeownership before they even begin – but they don’t have to.
Data in the <a href="https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers" title="2020 Profile of Home Buyers and Sellers" target="_blank" rel="noopener noreferrer">2020 Profile of Home Buyers and Sellers</a> from the National Association of Realtors (NAR) indicates that the median down payment actually hasn’t been over 20% since 2005, and even then, that was for repeat buyers, not first-time homebuyers. As the image below shows, today’s median down payment is clearly less than 20%.
<a href="https://files.mykcm.com/2021/01/29154130/MedianDownPayment_MEM.png" rel="noopener noreferrer" class="use_kcm_lightbox" target="_blank"><img loading="lazy" class="wp-image-97218 aligncenter" src="https://files.mykcm.com/2021/01/29154130/MedianDownPayment_MEM-600x376.png" alt="Do I Really Need a 20% Down Payment to Buy a Home? | MyKCM" width="600" height="376" srcset="https://files.mykcm.com/2021/01/29154130/MedianDownPayment_MEM-600x376.png 600w, https://files.mykcm.com/2021/01/29154130/MedianDownPayment_MEM-1024x642.png 1024w, https://files.mykcm.com/2021/01/29154130/MedianDownPayment_MEM-768x481.png 768w, https://files.mykcm.com/2021/01/29154130/MedianDownPayment_MEM-100x63.png 100w, https://files.mykcm.com/2021/01/29154130/MedianDownPayment_MEM-1046x656.png 1046w, https://files.mykcm.com/2021/01/29154130/MedianDownPayment_MEM.png 1300w" sizes="(max-width: 600px) 100vw, 600px" /></a>
What does this mean for potential homebuyers?
As we can see, the median down payment was lowest for first-time buyers with the 2020 percentage coming in at 7%. If you’re a first-time buyer and putting down 7% still seems high, understand that there are programs that allow qualified buyers to purchase a home with a down payment as low as <a href="https://www.hud.gov/buying/loans" title="3.5%" target="_blank" rel="noopener noreferrer">3.5%</a>. There are even options like <a href="https://www.benefits.va.gov/homeloans/index.asp" title="VA loans" target="_blank" rel="noopener noreferrer">VA loans</a> and <a href="https://www.rd.usda.gov/newsroom/news-release/usda-rural-home-loans-offer-100-financing-and-no-down-payment" title="USDA loans" target="_blank" rel="noopener noreferrer">USDA loans</a> with no down payment requirements for qualified applicants.
It’s important for potential homebuyers (whether they’re repeat or first-time buyers) to know they likely don’t need to put down 20% of the purchase price, but they do need to do their <a href="https://downpaymentresource.com/" title="homework" target="_blank" rel="noopener noreferrer">homework</a> to understand the options available. Be sure to work with trusted professionals from the start to learn what you may qualify for in the homebuying process.
Bottom Line
Don’t let down payment myths keep you from hitting your homeownership goals. If you’re hoping to buy a home this year, let’s connect to review your options.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The Kyle Geenen Group, LLC. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.The Kyle Geenen Group, LLC. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.2021-02-17T09:14:00-07:002021-02-17T09:31:36-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:22884 Reasons People Are Buying Homes in 20214 Reasons People Are Buying Homes in 2021
<img src="https://assets.site-static.com/userfiles/1023/image/20210112-KCM-Share.jpg" width="750" height="410" />
According to many <a href="https://www.mykcm.com/2020/12/31/four-expert-views-on-the-2021-housing-market/" title="experts">experts</a>, the real estate market is expected to continue growing in 2021, and it’s largely driven by the lasting impact the pandemic is having on our lifestyles. As many of us spend extra time at home, we’re reevaluating what “home” means and what we may need in one going forward.
Here are 4 reasons people are reconsidering where they live and why they’re expecting to buy a home this year.
1. Record-Low Mortgage Interest Rates
In 2020, the average interest rate for a 30-year fixed mortgage hit a record low 16 times, continuing to fall further below 3%. According to Freddie Mac, the average 30-year fixed interest rate today is <a href="http://www.freddiemac.com/pmms/" title="2.65%" target="_blank" rel="noopener noreferrer">2.65%</a>. Many wonder how low these rates will go and how long they’ll last. Len Keifer, Deputy Chief Economist for Freddie Mac, <a href="https://www.bankrate.com/mortgages/mortgage-rate-forecast-for-january-2021/" title="advises" target="_blank" rel="noopener noreferrer">advises</a>:
“If you’ve found a home that fits your needs at a price you can afford, it might be better to act now rather than wait for future rate declines that may never come and a future that likely holds very tight inventory.”
This sense of urgency is driving many to buy this year.
2. Working from Home
Remote work is a new normal for many businesses, and it’s lasting longer than most expected. Many in the workforce today are discovering they don’t need to live close to the office anymore and they can get more for their money by moving a little further outside of the city limits. David Mele, President at Homes.com, <a href="https://press.homes.com/pandemic-reshapes-homebuying-rental-decisions-homes-com-survey/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“The surge in the work-from-home population has rewritten the playbook for many homebuying and rental decisions, from when and where to relocate, to what people are looking for in their next residence.”
The reality is, for some people, working remotely in their current home is challenging, especially when there may be other options available.
3. More Outdoor Space
Another new priority for homeowners is having more usable outdoor space. Being at home is driving those in some areas to seek less densely populated neighborhoods so they have more room to stretch their legs. In addition, those living in apartments and townhomes are often looking for extra square footage, both inside and out.
According to the State of Home Spending report by <a href="https://www.homeadvisor.com/r/wp-content/uploads/2020/12/DP6355-StateOfHomeSpending-2020-R4.pdf" title="HomeAdvisor" target="_blank" rel="noopener noreferrer">HomeAdvisor</a>, of the households surveyed, almost half reported spending 27% more on outdoor living over the past year. This is a trend that’s expected to grow in 2021 and beyond.
4. Avoiding Renovations
It’s recently come to light that many homeowners would also rather buy a new home than go through the process of fixing up the one they have. According to the 2020 Profile of Home Buyers and Sellers <a href="https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers" title="report" target="_blank" rel="noopener noreferrer">report</a> from the National Association of Realtors (NAR), 44% of homebuyers purchased a new home to “avoid renovations or problems with the plumbing or electricity.”
Depending on what needs to be addressed, today’s high buyer demand may make it possible to skip some <a href="https://www.mykcm.com/2020/10/30/should-i-renovate-my-house-before-i-sell-it-infographic/" title="renovations">renovations</a> before selling. Many of these homeowners have prioritized buying over renovating for convenience and potential cost savings.
Bottom Line
It’s clear that homeownership needs are changing. As a result, Americans are expected to move in record numbers this year. If you’re trying to decide if now is the right time to buy a home, let’s connect today to discuss your options.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Kyle Geenen and the Kyle Geenen Group do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Kyle Geenen and the Kyle Geenen Group will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.2021-01-25T09:28:00-07:002021-01-25T14:07:48-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2254Top 5 West Michigan Winter ActivitiesTop 5 Outdoor Winter activities in West Michigan
With Christmas gone and the New Year upon us, it’s time to start thinking about ways to have fun once winter sets in! Outdoor activities are a staple of West Michigan wintertime, but there’s so many options we sometimes forget what is even available to do. Lucky for you, we’ve compiled a list of the top 5 best ways to have fun outdoors this winter! Take a look below!
<a href="https://www.msports.org">Outdoor Activities at the Muskegon Winter Sports Complex</a>
<img src="https://assets.site-static.com/userfiles/1023/image/Learn-to-Luge.png" width="1024" height="434" />
A West Michigan staple that has almost every activity you could ask for, the Muskegon Winter Sports Complex is a must visit. One of only four luge tracks in the country, the complex also boasts over nine miles of cross-country skiing trails, and two acres of outdoor ice skating making it a must visit this winter.
<a href="https://www.grandrapidsmi.gov/Government/Departments/Parks-and-Recreation/Rosa-Parks-Circle-Ice-Rink">Ice Skate at Rosa Parks Circle</a>
<img src="https://assets.site-static.com/userfiles/1023/image/rpc-ice-rink.jpg" width="1140" height="855" />
While ice skating downtown Grand Rapids looks a little different this year (spots must be reserved beforehand), this is a classic activity that almost every West Michigander has done once. There’s something truly magical about being able to skate in front of the GRAM, with all the lights, music, and a hot chocolate in hand. Be sure to make your reservations and get at least one skate in this winter!
<a href="https://www.meijergardens.org">Discover Frederik Meijer Gardens</a>
<img src="https://assets.site-static.com/userfiles/1023/image/_16_JapaneseGardenWinter_Altered_Terzes_6_6beaa435-e7fb-4968-b655-c972762adf83.jpg" width="940" height="529" />
A West Michigan Institution, Frederik Meijer Gardens is open all year long. Full of gardens, art, and set on 158 acres there is plenty to explore in this winter wonderland. As a bonus, if you get cold you can simply head inside to experience the numerous tropical, indoor gardens.
<a href="https://www.miottawa.org/parks/pigeoncreek.htm">Snowshoeing or Cross-country Skiing at Pidgeon Creek</a>
<img src="https://assets.site-static.com/userfiles/1023/image/glenna-haug-AkTea_GkU40-unsplash.jpg" width="6000" height="4000" />
The procedures look a little different this year and may take some planning, but you can still rent snowshoes and skiis at Pidgeon Creek park! Affordable rentals, groomed trails that are lit at night, sledding, and a variety of other classes make this a great way to spend some time out of the house this winter.
<a href="https://www2.dnr.state.mi.us/parksandtrails/Details.aspx?id=458&type=SPRK">Visiting Lake Michigan</a>
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There’s something truly magical about Lake Michigan during the winter. The huge icebergs, massive snowdrifts, and frozen landscape along the beaches that are just begging to be explored. It’s truly a favorite past time of almost all of us in west Michigan, and if you haven’t been able to experience it for yourself yet, then this is the year to do it!2020-12-22T11:08:00-07:002021-01-18T09:28:10-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2229Get to Know Joshua DeVriesGet to Know Joshua DeVries
<img src="https://assets.site-static.com/userfiles/1023/image/JDVIntroHeadshotSocial.jpg" width="1080" height="1080" />
Joshua DeVries is a Holland, MI native and has spent the majority of his life in West Michigan. Joshua graduated from Grand Valley State University with a degree in Business and upon graduating had the opportunity to live in Dallas, TX while working for international author and speaker Josh McDowell. After serving with Mr. McDowell and his ministry, Josh made his way back home to the Mitten State. Josh spent more than seven years in the financial services industry before becoming a Mortgage Loan Officer at Lake Michigan Credit Union. Josh’s number one goal as a Loan Officer is doing what’s best for the client and he believes that each client deserves the same care and attention his own family members would get. Joshua currently lives in Zeeland, MI with his wife Ruth and their two daughters. Joshua is an avid community member as he serves on the Zeeland Little League Board, the fundraising committee at the Outdoor Discovery Center, and as the Vice-Chair of the Public Policy Committee of the West Coast Chamber of Commerce.
Joshua is now our in-house lender here at the Geenen Group, helping our clients finance their purchases as well as refinancing. If you have questions about today’s market rates, refinancing, or anything involving home financing Joshua is a phenomenal resource!2020-11-30T08:35:00-07:002021-01-18T09:28:18-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2165What Do Low Interest Rates Mean For Me In Today's Market?What do low interest rates mean for you in today’s market?
The world is crazy right now, but one of the craziest things is how insanely low interest rates are! In September, rates on a 15-year fixed rate mortgage were as low as 2.39%!<a href="http://www.freddiemac.com/pmms/pmms15.html">[1]</a> That begs the question then, “what does this mean for me as a buyer or seller in today’s market?”. Well, we have some insight into that for you!
What do low rates mean for me as a buyer?
As a buyer, low interest rates are great! They help increase your budget a bit and mean that you’ll end up paying less over the long-term life of your loan. Something to note however, is that with lower rates, you typically end up paying discount points. Discount points are an upfront fee that you pay for a lower overall interest rate. In the grand scheme of things however, even by paying points you usually pay far less than you would over the long term. The combination of paying some discount points for a lower rate is a great way for you as a buyer to have a better opportunity to make a strong offer on a property that you may be interested in. For more information on rates, discount points, etc., consult a loan officer (if you’re in Michigan, we have a couple we would love to recommend!)
What do low rates mean for me as a seller?
Low interest rates can be a seller’s best friend. Lower rates typically mean that people are more open to making the big commitment of purchasing a home and also maximizing their budget. With interest rates as low as they are, now is a great time to get your house on the market. Things are moving quickly and for top dollar. However, if interest rates go up, you can expect your home to sit on the market a bit longer. Buying a home is a big decision for people, it involves a lot of emotion while also being incredibly real about finances. The higher the interest rates the more averse or cautious people are when it comes to buying. As a seller, making sure you put your home on the market during time periods with low rates is one of the best things you can do! In order to make sure your home is priced appropriately, consult a local real estate agent to make sure you are pricing appropriately and getting the best deal possible.
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2020-10-14T12:01:00-07:002020-10-23T05:41:47-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2129The Pursuit of Luxury PropertyThe Pursuit of Luxury Property
Have you ever heard the term “Luxury Property”? We see homes that celebrities and the ultra-wealthy live in and think “those are luxury properties” and “there’s no way that a n average family could ever afford that!” In most cases, that’s a fair assessment! Most of us can only ever dream about living in a vast estate with all the amenities that we could ever hope for.
In reality, luxury property is a bit of a moving target. It’s defined differently across varying markets with differing property values, median resident income, and area development. The Institute for Luxury Home Marketing, which specializes in training Real Estate professionals in the sale of high-end homes, defines luxury agents and properties as those in the top 10% of their given market. Thus, in some cities the price point for a luxury property may be below 1 million while in others it may be far above.
Because of the differences in markets, there is no specific checklist that covers what a luxury property is. There are, however, some commonalities. We’ve listed them below!
Location, location, location:
Arguably the key to most real estate, location is a huge factor in luxury property. Prime location with regards to the areas desirable features is huge. This, of course, varies from market to market. What are considered key and desirable location features in New York City may be very different than Omaha Nebraska. In general, though, think about usable natural features (i.e. lakes) and attractions like shopping, restaurants, etc.
High End Finishes:
This is almost everyone’s favorite topic when it comes to luxury properties. There’s just something inherently fun about looking at finishes, isn’t there? Looking at high end appliances that go perfectly with top of the line cabinets and gorgeous marble counters, what’s not to love? What’s the brand? Who’s the designer? What was the architect’s vision?
Amenities and Unique Features:
This one seems to vary from market to market. However, in general, amenities help dictate whether a property is in the luxury bracket. Maybe it’s association amenities that are high end and exclusive, such as a pool, restaurant, spa, etc. Or maybe it’s a super awesome bar and movie theater in the lower level of a house! Really, it’s all up to personal preference on what’s important.
Privacy:
This one is pretty self-explanatory. People that are buying higher end homes for their market typically want privacy. This is typically a pretty common theme with buyers in any price point, so we won’t expand on it too much.
Provenance:
This one is a little unique and isn’t always readily available. As an agent, or a curious buyer, this could require some digging on your part. What you’re looking for here is whether or not your property has a story. All properties have some type of history, but what we look for are the unique and interesting facts that add sizzle and intrigue when talking with others/guests. When in doubt, a local historian can assist you in discovering what the history is!
As you can see, the definition for “luxury property” can be a bit of a moving target. If you’re interested in purchasing luxury property or have a client that might be, just make sure you really take some time to figure out what is important to you (or your client). All of the things we talked about are great, but some are more nuanced and available than others. Don’t let that scare you though! Looking at luxury property can be an amazingly enjoyable activity!2020-09-24T19:00:00-07:002020-09-25T06:09:57-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:21064 Landscaping Tips And Tricks For Adding Curb AppealCurb appeal. Everyone wants it (or should), yet it often seems to be lacking. Don’t get us wrong, most homes look fine with natural greenery around them. These homes have landscaping and exteriors that are simple, clean and cute, but not necessarily show stopping, eye-catching, or jaw dropping. Solid landscaping and eye-catching curb appeal can really take a house from zero to hero! If you’re looking to take the first steps towards being THAT HOUSE, then this post is for you. Keep reading to find out our tips and tricks for landscaping and adding curb appeal!
1. Points of Interest
Every house has features that make it unique. Typically, those points of interest are on your homes curb facing or front elevation. The quickest way to add curb appeal is to find ways to highlight your homes points of interest. Not sure what those are? Start with the front door. The front door is typically a focal point on many homes. Find ways to use plants and other landscaping to highlight the door. For example, if you have a prominent front door, consider placing Emerald Greens on either side of your door. Or, if your door is a bit less prominent, consider adding a River Birch surrounded by smaller boxwoods! Maybe your point of interest isn’t the front door, but the same ideas still apply. Find a way to highlight those big windows or that porch/balcony!
2. Ground Cover
There is a lot we could say about ground cover, but we will keep it to these points – amount of exposure, type, and colors. The most common ground cover is mulch. It’s relatively cheap, easy to pick up, and easy to install. However, massive mulch beds can detract from curb appeal if not properly filled with plants (we will talk about this later). The whole point of ground cover is to highlight the plants in the beds and make them pop. This typically means using darker tones like brown or honey color mulch, or a darker hardscape. It’s important to fill in the gaps and draw your focus to accented plants and greenery rather than the ground cover itself.
3. Properly Fill Your Flowerbeds
Filling flowerbeds doesn’t mean packing them full to the brim! We also don't encourage having large spacing between plants. Simply put, know what plants you’re working with and what type of spacing will look best. For example, a bed with a mix of perennials and annuals needs a different type of spacing than one with just annuals or just perennials. Typically, annuals are smaller flowers that are planted en masse, which means that they require less spacing because it has a carpeted effect. Contrarily, most perennials, especially those that are more similar to a bush in look and size, require more spacing. A good rule of thumb is thatsmaller annuals should be treated more as a “large batch” and require less spacing and typically go toward the front of the beds. Perennials tend to be larger and require more spacing. Things like bushes also require more spacing. It’s also important to note that some perennials (like ferns) function as more of a ground cover than a flower. These can get planted and spaced closer together and en masse.
A final note on properly filling beds: Leave enough space on the edges where they meet your lawn and leave space between where the bed meets the house. Doing this will give it a less overgrown look and feel, while also making it easier for you to properly trim and blow when you or your lawn care crew cuts the lawn.
4. Problematic Spots
Problematic spots in the yard can be defined as a low spot with poor drainage, a spot where the grass constantly dies, or even an area that’s steep and tough to mow. If you have anything like this, consider landscaping. A suggestion for a low spot would be to put in a drain surrounded by hardscape and then consider putting a River Birch in with some boxwoods. It will add some interest to the yard while also solving your drainage issue. A similar process could work for a spot that you’re having issues with grass dying. Additionally, if you have a spot that is too steep to mow or is difficult to mow, consider putting in some type of feature. We’ve seen everything from small terraces with blueberry bushes to rose bushes and boxwoods put in to hold a hill in place. Whatever your problem spot is, get creative! Your creativity could end up as a great selling point!
We hope these landscaping tips and tricks help you as you get creative with your home’s curb appeal!
Interested in learning more or have something you want us to cover in an upcoming newsletter? Send us an email at marketing@geenenhomes.
Looking for other great tips regarding ownership, buying, and selling? Subscribe <a href="https://mailchi.mp/geenenhomes/blog-subscriber" target="_blank">here</a>!2020-08-25T09:47:00-07:002020-08-25T09:46:07-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:2081Easy Must Do's Before You SellSo, you’re thinking about selling your home? As you’re aware, it can take a lot of work to prepare your home to be listed on the open market. Maintaining your landscaping, keeping the counters clean, tidying the kitchen, scrubbing bathrooms and vacuuming floors are some of the obvious (and necessary!) check-list items. However, there are additional important and often overlooked tasks that are easy “must do’s” before you sell your home.
Without further ado, here are “Seven Easy Must-Do’s” before you sell your home!
1. Spackle the Dings in the Walls and Touch Up Wall, Door, and Trim Paint
This is an easy one, but something that a lot of people overlook. Touching up wall dings makes a massive difference. By going through and using <a href="https://www.lowes.com/pd/DAP-Fast-N-Final-8-oz-White-Spackling/3964009?cm_mmc=shp-_-c-_-prd-_-pnt-_-google-_-lia-_--_-wallrepair-_-3964009-_-0&store_code=330&placeholder=null&gclid=EAIaIQobChMIsYPjyeHh6gIVhobACh1p7AC8EAQYASABEgKaK_D_BwE&gclsrc=aw.ds">Dap Fast N’ Final Spackle</a> you can quickly patch wall dings without making a mess. Once it dries in a couple hours, lightly hit it with some high grit sandpaper, match your wall color, and you’ll never know it was damaged in the first place! Similarly, if you go through and clean up some smudges on your door frames and trim with a disinfectant wipe, and then touch them up with a matching paint, potential buyers will definitely notice the difference compared to other homes. It’s a quick project but in a buyer’s mind it shows that the home is really well cared for.
2. Power Wash Your House and Patio
And once again, in bold if you didn’t catch that, POWER WASH YOUR HOUSE AND PATIO! There’s no reason that the cleanliness of the outside of your home should not match that of the inside. If potential buyer’s see a dirty house and a dingy looking patio area or cement it can put out a message of neglect. By washing the outside of the house, as well as cleaning up the cement and patio area, you give off a sense of value to the home that otherwise may be lacking. Don’t believe us? Go to google or Youtube and look up some before and afters and then get back to us! It’s amazing!
3. Weed Your Landscaping
While we are on the subject of home exteriors, it’s VERY important to maintain your landscaping! A neglected landscape and overgrown flowerbeds strongly detract from the curb appeal of your home. Take a little extra time and freshen it up! Giving a buyer a great first impression starts on the outside of the house and carries over to the inside!
4. Make Sure Your House Doesn’t Stink!
Now you may be thinking to yourself “my house doesn’t smell!”, but you have to remember that we all become nose blind to smells and odors. We were recently at a showing and the first thing that we noticed walking through the door was the overwhelming smell of moth balls. Chances are, all of our houses have some smells that we just aren’t aware of. In order to be safe, rather than sorry, leave out some small bowls of baking soda in each room, with fans to help circulate. After that sits for a bit, purchase a few plug-in air fresheners with a mild scent. Now your home smells clean, fresh, and ready for showings!
5. Clean Your Glass
This, again, is a bit of a no brainer but often overlooked. Cleaning window and door glass allows for the best natural light in a home. It gives an impression of regular cleaning and maintenance. Unless your buyer is a property flipper or investor, chances are they’re looking for something that gives off the feel of being loved and cared for.
6. Make Sure You Dust
We can’t tell you how often we go into homes and see dust. Dust on the trim. Dust on top of the door frames. Dust on appliances. Dust resting on light fixtures. As an agent showing your beautiful home, dust distracts for your home’s great features! Buyer’s notice this as well and will often comment on many areas dust is present. This is a friendly reminder to dust your fixtures, all areas of your cabinets, and in between stair rails. Turn on your favorite music and make it fun! Your agent and potential buyer will be grateful!
7. Clean the Light Switch Covers
This is a really easy one that most people definitely don’t do. No matter how nice your home is or how often you clean, we’re betting it’s rare your light switches and their covers get cleaned. Believe it or not, they’re dirty!! Every time someone touches the plate, oils and germs from that persons hands are left on the plate. Without frequent cleaning, this dirt can cause damage and discoloration to the hardware. While swapping them out for brand new ones actually isn’t that expensive (about a $1.50 per switch and cover set), it’s way easier to just take a disinfectant wipe and clean them. It will make them look newer and it’s just a good health practice overall!
A lot of preparation and work goes into getting your home ready to sell. We hope that by highlighting these “Seven Easy Must-Do’s”, we’ve helped you organize your checklist while not missing the important areas of your home! Making a good impression on potential buyers will help ensure you get the best price for your home!
For more articles and posts about real estate, <a href="https://mailchi.mp/geenenhomes/blog-subscriber">subscribe</a>!
Interested in buying or selling your home with the Geenen Group? We’d love to talk with you! Email us through our <a href="https://www.geenenhomes.com/contact/">contact form</a> or call us at (616) 795-0014.
2020-07-31T06:30:00-07:002020-07-31T06:41:31-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1191Dave Ramsey School SponsorshipThe Kyle Geenen Group is a proud sponsor of Dave Ramsey's "Ramsey Solutions" Foundations in Personal Finance curriculum. Our team has donated this curriculum to three local West Michigan schools: Creekside Middle School, Holland Christian Middle School, and West Ottawa High School North.
Geenen Group is excited to be a part of giving local students the chance to learn more about personal finance before entering the working world. We truly believe in the Dave Ramsey principles and strive to incorporate them throughout our business' practices. So, seeing them being learned and utilized by the future generation is exciting.
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Kyle has had the privilege of speaking at West Ottawa High School three times to talk about business and finance in correlation with the team's donation of the Ramsey Solutions curriculum. As a result of this, Kyle has also had students reach out for job shadowing. Connecting with the younger generation of our local community has been such a rewarding experience.
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Recently, Kyle had the opportunity to attend a Dave Ramsey seminar, "Smart Money Live Event" in Grand Rapids, MI. Kyle and his wife, Allison, also got the chance to meet Dave Ramsey, which was a valuable experience.
If you have not used or heard of Dave Ramsey's tools for personal finance, we highly recommend you take the time to check them out! 2019-03-11T11:36:00-07:002019-03-11T12:41:08-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1153Valentine's Day PlansDo you need some last minute Valentine's Day ideas for you and your signifigant other?
Valentine's Weekend at Hops - Hops is one of our team's favorite downtown restaurants. Come enjoy some specials starting at 4PM all weekend (Thursday-Saturday). Enjoy the special bang-bang shrimp appeitizer followed by your choice of three entress: steak & lobster, red shrimp bucatini, or osso bucco. Finally, finish off your meal with a deconstructed tiramisu for two! Don't forget, there are also speciality Valentine's Day cocktails to enjoy.
Fustini's Cooking Class - Love to cook? Love to eat? Head over to Fustini's website to check out the cooking classes for the weekend. Snag up a couple spots in a class to spend some time cooking something new and eating delicious food together!
Valentine's Day Dance - Do you or your signifigant other enjoy dancing? Head out to the Pipeline Underground Saloon in West Olive Thursday starting at 6:30PM. There will be dinner for two, dancing, and even dancing lessons!
Valentine Cookie Class - Need a special treat for Valentine's Day? Grab a friend or two and head over to Oven Mitt in Holland to decorate some special Valentine's Day Cookies TONIGHT, Wednesday at 6PM!
There are so many other things you could do in West Michigan. So many resturants have specials for the weekend, be sure to check them out! 2019-02-13T09:00:00-07:002021-03-30T05:45:15-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1087February 2, 2019 Weekend Events <img src="https://assets.site-static.com/userfiles/1023/image/IMG_2938.jpg" width="769" height="707" />It has been a cold week in this Michigan polar vortex! Good news - it is warming up this weekend! It is the perfect time to get you and your family out of the house after all the snow days spent indoors, here are some suggestions for local activities.
1. Hope College Dance Marathon Silent Auction - Come help raise money For Helen DeVos Children's Hospital at Hope College's annual silent auction at the Courtyard Marriott Friday, Feb. 1 from 3:00-7:00PM.
2. Trixy Tang 80's Dance & Costume Party - Come dance the night away to 80's favorites at the Park Theatre in Holland on Friday, Feb. 1. Doors open at 7PM, show begins at 8PM. Tickets are $10 in advance, $15 day off. All ages welcome, 17 & under must be accompanied by guardian.
3. Winter Film Series: "Fare from the Tree" - Screening Feb. 1 & Feb. 2 at 7:30PM at the Knickerbocker Theatre. Based on the New York Times bestselling book, “Far From the Tree” follows families in which parents and children profoundly differ in a variety of ways. Film is not rated.
4. Trivia at BAM! - Come Fri., Feb. 1 & Sat., Feb. 2 from 7-9PM to BAM! Entertainment Center for some fun trivia! FREE to play! Live quiz game show you play for fun and prizes! Multiple nightly BAM! gift certificates are awarded to the top teams and players. Enjoy all the other attractions BAM! has to offer as well.
5. Ski Class at Pigeon Creek Park - Each weekend through Feb. 23 Pigeon Creek holds a different skill level skiing class. February 2nd at 10:00AM come learn how to skate ski, which is for adult skiers who want to learn the basics of several skate techniques. *Skate skis required; limited rental available* Registration costs $8 and does not include ski rental fees.
6. Indoor Winter Market - From 9AM-12PM on Sat., Feb. 2 at the 8th St. Marketplace in Holland (150 West 8th Street), come get fresh local breads, root vegetables, eggs, and more at the indoor farmer's market (located at the new Civic Center).2019-01-31T11:27:00-07:002019-01-31T12:10:01-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1144Home Winterizing Winter is in full swing in West Michigan with freezing temperatures & inches upon inches of snowfall! It is never too late to make sure your home is prepared to handle the weather. Here are some tips on how to prepare your home for winter and even save you a bit of money on utilities in the meantime.
Tree Branches – With the snow coming down, tree branches can become heavy due to snow buildup. Be sure there are not any branches hanging over your house so that your roof and exterior does not get damaged.
Windows – It’s been quite a cold couple of weeks! Filling in any gaps between window frames and doors can keep your home warmer and reduce your energy bill. Check to see if the weatherstripping is secure in these areas to avoid drafts.
Pipes – Pipes can be sensitive to these freezing temperatures, especially in older homes. Wrapping basement/crawl space water lines with insulation and heat tape can protect them from freezing. In older homes, running water through the faucets and outlets regularly can also help to avoid any potential freezing.
Programable Thermostat – Installing a programmable thermostat can really save money on energy bills. Set down the temperature while away at work and asleep to save some extra money. When changing the temperature, only change by 1-2 degrees since cranking the temperature up or down does not heat the home faster, but can waste more energy than desired.
Stay safe and stay warm this Michigan Winter!2019-01-23T15:03:00-07:002021-03-30T05:46:12-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1143Weekend of 1/18 EventsThere are so many fun activities to do in the great West Michigan. Here are just a handful of some fun, family friendly, outdoor activities to do this weekend, January 18-20, around the Holland area.
Indoor Winter Market: Saturday, 1/19 9AM-12PM at the new Civic Center in their Marketplace. There will be local breads, root vegetables, eggs, and more!
Frosty Fun Day at DeGraaf Nature Center: Starting at 11AM on 1/19, enjoy snowshoeing, live Irish music, snowball throwing contests, and delicious food by donation. Entrance fee (does not include food) is $3.
Family Ice Fishing: From 11AM-1PM on 1/19, come learn to ice fish at the Outdoor Discovery Center! All materials including fishing poles, tackle, and bait to be provided. Note, this is an outdoor event, dress to be outside at least 1 hour.
For more information on events for this weekend, check out Holland.org/Events/Calendar
2019-01-18T15:02:00-07:002019-02-01T15:03:01-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1142Wishing You a Very Merry Christmas and a Happy New Year!As the Christmas season approaches and 2018 comes to a close, there are always so many holiday activities and events to attend. The Christmas season allows me the special opportunity to take a moment and say thank you to all of our clients and friends who have helped make 2018 a success!
You are the ones who make my business such a pleasure, joy, and success throughout the year. My business is a source of pride to me, and with clients and friends like you, each day is a rewarding experience.
We are looking forward to another awesome year in 2019! We are especially excited because the Geenen Group is growing; Allison, Graham, Gibson, and I are expecting a daughter and little sister in May of 2019!
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I want to wish you and yours a very Merry Christmas and a Happy New Year! May this holiday season bring good cheer to you and your family.
Seasons greetings & blessings,
Kyle Geenen
2018-12-19T15:00:00-07:002019-02-01T15:02:15-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1141West Michigan Christmas Activities It’s officially Christmas season, which means it is time to for all of the fun, family-friendly Christmas activities! Here are some local, West Michigan events to put you in the Christmas spirit!
Santa’s Shoppe at Home & Company – Time for the annual trip to see Santa! Home & Company invites you to visit Santa for free! You just need to bring your own camera for a picture. Click here for the schedule of when they are open: http://www.myhomeandcompany.com/visit-santa-for-free/
The Live Nativity – The Critter Barn invites you to experience the story of Jesus Christ’s birth with costumed characters & live animals. Visit the animals, take in the display of Bethlehem & Galilee, & see photos of where Christ lived. Admission is free!
Christmas at Cappon House – Come December 15 & 16 from 12-4PM to join in singing Christmas Carols, delight in listening to Christmas stories, decorate & eat holiday goodies, & create your own Christmas card or ornament. There are also Victorian era games and traditions. Tickets are $10 for non-members & $8 for members, children 5 & under are free.
Hughes Musical Christmas Show – Take the family to enjoy the spectacular light show at 10679 Deer Ridge Ct, Zeeland, MI 49464 through the end of December. Hours are 5:30-9PM Sunday-Thursday & 5:30PM-10PM Friday & Saturday. Tune into radio station 88.7 for Christmas music that corresponds with the light show. Admission is free, donations are accepted. More details – https://www.facebook.com/Hughes-Musical-Christmas-Show-10679-Deer-Ridge-Ct-Zeeland-487943604591192/
These Christmas specific events are coming to a close right after Christmas, so do not delay in getting the family out for some good fun to celebrate this joyous season!
2018-12-13T14:58:00-07:002021-03-30T05:46:41-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1140Foreclosure Sale Types ExplainedMany people hear the term, “foreclosure,” but don’t really understand how foreclosures work and that there are different ways to purchase a foreclosure. A foreclosure occurs when a homeowner fails to pay multiple mortgage payments; therefore, the bank begins the process of repossessing the home.
Once a home is officially foreclosed, meaning the homeowner was unable to pay the bills after receiving a notice, there are three options for the bank to move forward with selling the foreclosed home.
The first option is called a short sale. This is when the homeowner is still involved and negotiates with the bank to work out a short sale. The short explanation of a short sale is that the bank/mortgage company allows the homeowner to sell the home for much less than what they owe. This allows a prospective buyer to purchase the home at a below market value price. However, finding a buyer can prove to be difficult as these homes are typically sold “as-is.”
The second option is selling the home at auction because the owner failed to make payments and decided against the short sale route. The bank delegates the minimum bid for the home, and prospective buyers will need to have at least 10% of the total purchase cost in order to purchase the home. However, even with a winning bid, the bank/mortgage company still has the right to decline the offer. In this route, the home is also sold “as-is.”
The third option for selling a foreclosure home is when the home becomes a “bank-owned” or “real-estate owned” property. Foreclosed homes are usually sold at a lower price point; however, they are typically all sold “as-is.” In addition, there is usually quite a bit of paperwork and a longer timeline involved as the sale needs to be approved by all the bank’s/mortgage company’s shareholders.
Navigating a purchase of a foreclosure is no easy task as it takes time, paperwork, and knowledge of the process to most efficiently secure an accepted contract. Give us a call today, we’d be more than happy to help you in your home search!
2018-12-04T14:57:00-07:002021-03-30T05:46:51-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1139Buying a Newer Home vs. Buying an Older HomeSo, you’re looking for a home. You go online and there are two kinds of homes, newer homes and older homes. Which do you want to call home? Here are some advantages and disadvantages to both types of homes.
First, let’s look at older homes.
Advantages:
More character: Older homes include styles like craftsman bungalows, victorian era, tudors, and colonials. These architectural styles mean older homes are adorned with arches, carved decorative appointments, and other various details that give the home more character.
Established neighborhood: Changes in zoning are less likely to occur in older, more established areas.
Mature landscaping: The longer a home has been around, the chances are the landscaping, i.e. trees & vegetation, are more developed and mature. This can provide bigger canopies in yards along with more lush landscaping.
Old-world construction: Many older homes have stood for decades, and in some cases, even centuries. These homes have seen many storms and all sorts of weather, yet still stand against time. This is because these homes were built with meticulous attention to detail and solid framing.
Location: Older homes are usually in closer proximity to downtowns, entertainment, and local restaurants because they were built around the city when it was established.
Disadvantages:
Upkeep: The older the home, the more wear and tear it has seen throughout various families and over the years. Things will go wrong, periodically, and there is always something to fix or replace. Some examples include roofs, chimneys, tuck pointing foundations, and sloping floors.
Smaller spaces: When older homes were built, people had less things and many families only had one car. This means that closets, storage spaces, and garages in older homes are typically smaller when compared to new construction homes.
Updates: In addition to general maintenance and upkeep of the home, older homes will require more updates in HVAC systems along with aesthetics in areas like the kitchen and bathroom.
Plumbing: Many times, the plumbing system of an older home has smaller, more galvanized pipes. This means water pressure can be lessened in the home and replacement may be needed.
Smaller square footage: Older homes were built with smaller rooms, so the square footage of an older home is going to be smaller than when compared to a newer home with the same number of rooms.
Next, let’s take a look at newer homes:
Advantages:
Less maintenance: New construction is meant to last awhile so there is going to be less upkeep, especially in the areas like HVAC and roof, which only requires replacement every 10-20 years.
Warranty: Many builders offer a new home warranty (often 10 years), which gives the buyer a safety net for the foundation, structure, and other components.
Energy efficient: Newer homes are built with walls, ceilings, and floors with newer & updated insulation, newer dual pane windows, and new appliances. All of these items help to cut back on energy usage, meaning warmer winters & cooler summers while spending less money.
City codes: Many old homes do not need to abide by certain building codes since they were built so long ago. Whereas, a new home needs to abide by the most up-to-date building codes that help ensure safety.
Square footage: The square footage of a new home is usually larger than an older home, even with the same number of bedrooms.
Disadvantages:
Cookie cutting: Many new homes are built within a development, which means all the neighboring homes are built by the same builder. This can result in cookie cutter homes that look nearly identical from exterior to the interior floor plan.
Young landscaping: It takes years for trees to grow, which means the newly planted trees of a new construction home are not yet mature. They will offer less shade. In addition, the lawns are still growing, which means they are going to be less lush that an established landscape of an older home.
House settling: Older homes have already settled, but new homes still need to settle over the years. Regardless of soil, this happens to all homes in some capacity. This can cause cracks in foundation, walls, and even door frames. Luckily, you will have a home warranty from the builder if these things happen in the first 5-10 years.
Distance from downtown: Newer homes are usually built in neighborhoods that are further away from the downtown area, restaurants, stores, etc. This could mean a longer commute to work in rush hour and a longer distance to things to do in the town.
While there are advantages and disadvantages of all kinds of homes, it does not mean one is less-than the other or should be avoided. They are simply different options depending on what you are looking for during your home search. Be sure to talk these differences and your desire in a home over with your realtor to determine what you would like to pursue in your home search.
2018-11-27T14:54:00-07:002021-03-30T05:47:00-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1138Thanksgiving Letter 2018As Thanksgiving day approaches, I am reminded of everyone and everything I am thankful for. I especially remember those who have helped me in my life journey and in my profession – from mentors who helped guide me, family members and friends who support me, and every client I have had the privilege to meet and build a relationship with in my line of work.
Though I am thankful every day, there is never enough opportunity for me to personally thank each and every one of you. With this season of gratitude through the coming Thanksgiving day, I want to personally express my deepest appreciation for my clients who place their confidence in me when buying or selling a home and who support my real estate team through both their friendships and referrals.
I wish you and your family a very safe and happy Thanksgiving this week. May you be reminded of all there is for us to be thankful for today, tomorrow, and in the year to come.
Blessings,
Kyle Geenen
2018-11-20T14:53:00-07:002021-03-30T05:47:09-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1137Tips for Online Home ShoppingBrowsing for a new home online is a great place to begin when looking to move or buy a new home. However, simply looking online should not be your only method of your home search. Here are some helpful tips to remember when you are house hunting online.
Right site – Do some research to ensure you are using an up-to-date website for your house hunt. The site you search on needs to pull from the multiple listing service (MLS) that real estate agents use to post homes for sale, one example is Zillow. There are sites out there that are not up-to-date, which are showing old information, old listings, off-market listings, etc. Better yet, contact a real estate agent who can set up a portal for you that will show you all of the homes that meet your criteria directly from the MLS so that you are only seeing the most up-to-date information.
Pictures – The pictures you see on a listing site can show you the highlights of a home and some truly tremendous features. However, looking online should not be your only go-to because pictures can be deceiving and they do not allow you to truly experience the home. There is always more to a home than what is shown in photos or videos. The pictures should act as a helper in determining whether or not you want to see a home in person and to get a better idea of if you want to put in an offer.
Showing – Once you have found some homes using an up-to-date site and gone through pictures to find homes you’re interested in, it’s time to set up a showing! Give a real estate professional a call to set up a showing to see the home in-person. This will allow you to explore the home, envision whether you could see yourself living there, and determine if it is truly the dream home for you. Any questions you may have can be directed towards your real estate agent who will ensure all your bases are covered!
These tips can be helpful in ensuring your online house hunting experience is positive and successful, coming full circle to an in-person showing and hopefully an accepted offer on your dream home!
2018-11-13T14:52:00-07:002021-03-30T05:47:17-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1136West Michigan Winter Activities Today is the first real snowfall in West Michigan! That means winter is right around the corner. With this cooler weather comes a lot of fun outdoor activities as well.
Snowshoeing – The DeGraaf Nature center in Holland offers snowshoeing to the general public. The cost is $2 to use a pair of their snowshoes on their trails.
Sledding – There are many sledding hills in the area as well. One of the most popular sledding hills in Holland is at the historic farm, Van Raalte Farm Park. This is a free sledding hill open to the public. Note, there is a short walking distance from the parking lot to the hill.
Ice Skating – Grand Rapids has a cute outdoor skating rink called Rose Parks Circle. You can bring your own skates and pay a small fee to use the rink or you can rent skates there as well. It is quite beautiful at night when all of the Christmas lights and decorations are out.
Kerstmarkt Outdoor Holiday Market – “Experience a delightful outdoor European-style market with holiday items, delicious food and artisan demonstrations in Holland, Michigan. Located at the 8th Street Marketplace at the corner of 8th Street and Pine Avenue, weekends from November 17-December 8.’ There are bell ringers, dog sled demos, a parade of lights, and shopping.
Holiday Open House – November 17 from 5-8PM come downtown Holland for carolers, freshly roasted chestnuts, photos with Santa Claus, and petting reindeer at the petting corral! At 8PM, head to 8th St. & Central Ave. for the annual tree lighting ceremony. A fun, free, family event to kick off the holiday season!
These are just a handful of activities available for the remainder of 2018 in the lovely West Michigan area! Stay tuned in the coming weeks for another blog more focused on local Christmas activities.
2018-11-09T14:51:00-07:002021-03-30T05:47:26-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1135Understanding a Home Owners AssociationMany people have heard the term home owners association (HOA), but not all people understand what all an HOA does or why having one can be an important role within a neighborhood.
An HOA is run by a board of individuals selected/voted upon within a certain community or neighborhood. These individuals work together to oversee the upkeep and maintenance of common areas of the neighborhood including shared roads, clubhouses, pools, and neighborhood entrances. The board of directors in the HOA also manage the neighborhood finances, set and enforce neighborhood bylaws (rules), and ensure that a neighborhood is a safe and pleasant place to call home.
Let’s break those down a little further.
Rules:
Determine, approve, and enforce the covenants, rules, and bylaws of the neighborhood as laid out in the neighborhood association documents.
Review and resolve any complaints made against fellow neighborhood residents.
Appoint committees of the neighborhood (neighborhood watch, landscape planters, neighborhood cookout committees) and delegate tasks to said committees.
Meetings: Majority of HOAs hold bi-annual or annual meetings.
The HOA holds meetings for the neighborhood residents to get together and vote on important neighborhood matters, issues, and proposals (i.e. do we get a pool, are fences allowed, etc.)
The HOA also holds meetings just for the board of directors within the HOA. This allows the board to discuss topical issues, complaints and how to address them, etc. prior to bringing about solutions and resolutions to the neighborhood occupants.
Finances: Living in a neighborhood that operates outside of public roads means that there will need to be finances involved since the neighborhood maintains itself internally.
The HOA works on setting a budget each year using input from the neighborhood residents.
Financial records are kept showing what has been spent where and how much money is left for possible upgrades along with further maintenance for the year.
With an HOA usually comes yearly or monthly dues that are paid to the home owners association. These dues contribute to the maintenance and utilities of the neighborhood. If you live in a condominium, many times these dues will cover the cost of some of your personal home utilities like trash, water, and/or electric.
Sometimes neighborhoods need to consult with a professional attorney, accountant, or other business professional. HOAs exist to facilitate this communication along with allocate funds to pay for these services.
Maintenance:
As previously discussed, the HOA takes fees to pay for maintenance. These are then budgeted for general maintenance along with repairs of any communal neighborhood spaces.
The HOA will also respond to any neighborhood emergencies that occur within shared spaces.
If repairs are needed, the HOA will collect bids from contractors and choose one to fix something in need of repair or general maintenance throughout the year.
Now that we understand some of the duties and need for a neighborhood to have a home owners association, what are the pros and cons of having an HOA?
Pros:
They keep the neighborhood clean, safe, and help to preserve property value and safeguard investments.
The money collected is used to improve the neighborhood, maintain the wellbeing of the neighborhood, and add more amenities to the neighborhood.
The rules, covenants, bylaws, restrictions, and conditions determined by the HOA help to maintain property value, create a safe place to live, and increase the curb appeal in a neighborhood for potential buyers (i.e. a homeowner cannot just collect junk on their front lawn).
Cons:
Some HOAs propose strict rules and restrictions. If you live in a community with rules, you are expected to follow them; otherwise, there can be a penalty you must face for breaking them. These penalties can range from a warning, to a fine, or even foreclosure if a homeowner refuses to pay his or her HOA dues. However, these things are easily preventable by reading your association paperwork prior to purchasing a home to ensure you agree with the laid out rules, restrictions, covenants, and bylaws of a neighborhood prior to becoming a resident.
As long as you as a resident understand and follow the rules and pay your dues in a timely manner, your experience with living in a neighborhood with an HOA will be nothing short of splendid!
2018-10-30T13:50:00-07:002021-03-30T05:47:34-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1134Winterizing Your HomeThere have already been sightings of snow here in West Michigan! This means that winter is right around the corner. As a home owner, there are some important steps to prepare your home and your wallet for the Michigan winter weather.
Sprinkler lines – If you have not already, blow out your underground sprinkler lines and above ground hoses to avoid them cracking from water freezing in the cold weather.
Seal up drafts – Your warm heated air can leak out and let in the cold, which can create irregular drafts and temperatures in the home as well as create a dent in your monthly energy bill. Removing AC window units, placing a draft stopper (or a towel) under a drafty door/window, ensuring ducts are properly sealed, and placing insulation around window edges will help to minimize the heat leaving and cold entering your home.
Ceiling fans – Many ceiling fans have the ability to run blades in reverse/clockwise, which makes it warmer. As hot air rises, this will allow the hot air to circulate back into the room to make your home warmer and save energy.
Furnace filters – Changing your furnace filters on a monthly basis during heating season will increase air flow and minimize your energy usage. Helpful tip: put a reminder in your calendar to do this once a month so that you do not forget.
Water heater – Lowering your water heater to 120 degrees can help to decrease the cost of your monthly bills by as much as 10%.
Thermostat – Reducing the temperature of your home by even one degree can easily shave 1-3% off your heating bill each month. Put on a sweater or cozy up under a blanket instead of heating that extra couple of degrees to save some serious bucks.
Emergency back up – The weather can change quickly in West Michigan! It is always better to be safe than sorry when it comes to precautions. Be sure to have batteries, flashlights, and candles on hand in case of a power outage. Having other items like canned food and camping cooking equipment nearby will ensure a warm meal even with no power. Lastly, an additional item to consider would be a back up generator to keep the utilities in the home up and running in case of a power outage due to a winter storm.
Upgrade – Do you have an older furnace? Upgrading your furnace to a newer, more energy efficient model can help to save you lots of money over the course of the winter and lifetime of the furnace.
Doing these things can help to save you extra money in repairs and extra money in your wallet over the course of the upcoming Michigan winter weather!
2018-10-23T13:49:00-07:002021-03-30T05:47:46-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:1133Geenen Group Gives BackThe Kyle Geenen Group had a great summer! As we change seasons into Autumn, we wanted to look back on some of our highlights of the summer as a team. We partnered with various organizations for two events this summer as a way to give back to our amazing West Michigan Community.
The first event was a public event called, “Dogs & Donuts.” Geenen Group partnered with <a href="https://petgotchaday.com/">Pet Gotcha Day</a>to connect adorable, adoptable pets with their forever families. Pet Gotcha Day is an organization that utilizes VR headsets and 360 videos to show an adoptable pet’s personality. We worked together to get local shelters and rescues including Harbor Humane Society, Best Pals Animal Rescue, Tyson’s Place Animal Rescue, and Wishbone Pet Rescue to bring adoptable pets like puppies, dogs, kittens, and cats to our office on Ottawa Beach Rd. The general public was invited and the turnout was spectacular! Eleven pets were adopted, many applications were submitted, and awareness of the need for pet adoptions and the organizations involved in the event was heightened.
Click here to see a video about the event: <a href="https://www.youtube.com/watch?v=m9HQoRoUkeo">https://www.youtube.com/watch?v=m9HQoRoUkeo</a>
The second event was for our past clients called, “BBQ and Backpacks.” Geenen Group partnered with Women in Transition, Shoemaker Inspections, and Travis Gregg at Huntington Bank to collect backpacks and school supplies for children in need within the community. Our past clients got to come and enjoy time with their families at Tunnel Park, along with delicious food from Hog Wild BBQ. The Geenen Group donated 24 backpacks and various school supplies, and our past clients donated some backpacks and school supplies as well.
2018-09-05T13:47:00-07:002019-02-01T14:49:22-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:914Is Getting a Home Mortgage Still Too Difficult? Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.
Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not want to end up in a litigation situation due to loan issues.
What Has Happened to the Number of Mortgages?
Due to the strict nature and requirements of the lending companies, the number of mortgages given out has significantly dropped. A report by the Housing Financial Policy Center at the Urban Institute showed that about 6.3 million fewer mortgages were given out between 2009 and 2015. The reasons behind this statistic are strict regulations and policies. These mortgages would have been granted if the lending standards where more reasonable.
Mortgage companies rely on calculations to determine if a home buyer will become delinquent on their payment. They will not give you a loan if you are too much of a risk for them. Credit history has a huge impact on this decision since lenders can see how often you pay back your debts. The history they receive is extensive. This view into your financial past causes lenders to take less risk when lending to you for your mortgage.
The Effect on the Economy
The housing market is recovering at a slower pace than it should since less potential homebuyers are being offered loans. While the market is still recovering with positive trends, fewer buyers can create a strain on other economic factors like home goods or construction jobs. Bottom Line
After the housing market boom and bust, mortgage lenders became stricter in their lending standards. It is not impossible to get a mortgage loan, but it can still be difficult for potential home buyers. Stay on top of your credit and make sure you and anyone else who is applying are in a good financial position so you can be approved for a loan. It is important to research different companies and their requirements to ensure success in getting a mortgage.2018-08-06T07:56:00-07:002021-03-30T05:48:33-07:00Kyle Geenentag:geenenhomes.com,2012-09-20:913Why You Should Consider Selling in the Winter The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
Bottom Line
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring.2018-08-06T07:55:00-07:002021-03-30T05:50:41-07:00Kyle Geenen