Holland Michigan Real Estate Blog

Focus On Local And Regional Trends When Analyzing Real Estate Deals

It is easy to find information about the state of the housing market of the entire country as compared to information about a specific region or city in a specific state. There has been a 45% reduction in the number of foreclosures in California as opposed to a 20 to 22% reduction in states like Georgia and Michigan.

Do not take your decision without analyzing local and regional factors along with national trends.

On a monthly basis I track all the local market stats which includes the number of homes on the market, list price to sale price, how many homes sold, average days on market and several other stats. This allows me to compare the current market to what it has been over the past year to make sure my clients are fully educated. There are not many agents in the area who keep track of market trends like I do, so please ask me any questions that you may have.

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Real Estate Analysis, Try Researching Like A Tourist First

What factors should you consider when thinking about moving to a new place and purchasing property there? A good way to begin would be to use the Internet and behave as if you are a tourist who is planning to visit the place for a vacation. This will help you understand the basic facilities available at your destination. Of course, you cannot take your decision on the basis of such an approach alone. However, starting as a tourist and then slowly proceeding to think from the perspective of a permanent resident will be a lot easier. As you gather more information, you will find yourself identifying the pros and cons of purchasing property without any difficulty.

Along with acting like a tourist you should get connected with an agent who is familiar with the area and works with lots of home buyers every year.

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Buy now!

It is natural to feel pessimistic about the property market considering the fact that it has taken five years from 2007 for the market to show signs of a recovery.

However, this does not mean you should adopt a wait and watch approach until the recovery is complete. The problem with waiting is that you can't tell you are out of recovery until things are getting better and prices are going up. Prices started creaping up this year and other sign indicate that the market is improving.

Remember, there are numerous opportunities in the real estate market that can use to earn fantastic profits. You just have to analyze the pros and cons of investing in such a market. If you discover a good opportunity, then the most sensible thing to do is pursue it.

I'm currently working with a few investors who view this time as a great time to buy, and I believe this is a great time to take advantage of the low interest rates and good deals on the market.

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Buying Property, It Is Impossible To Avoid Risks

Never forget that investing in property is a long-term decision. It is virtually impossible to analyze the pros and cons of purchasing property without making a few basic assumptions. What if you lose your job a few months after buying property? What if a financial crisis takes place and you are compelled to default on your mortgage?

There can be no satisfactory answers to these questions. Considering the current condition of the market, you have no option but to learn to manage the risk involved in investing in property. Instead of running away from the same, you would do well to identify the risks and find ways to minimize it as much as possible.

When I meet with home buyers I like to talk about things like this so they are fully prepared to purchase a home. Some of my home buyers purchase a home based only on 1 income if it's a married couple, while many others purchase a home in a price range much less than what they are approved for. If you would like to set up a meeting please contact me at #616-502-8897.

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Buying Property Be Prepared To Step Back From The Deal

Purchasing your own property can be one of the most exciting decisions of your life. However, do not make the mistake of adopting an emotional approach when making the decision.

You must consider the possibility that you may not be prepared to purchase property yet. Is it advisable to go ahead and purchase property when you cannot manage the down payment on your own? If you have absolutely no savings in your hand, then you must understand that the risks involved in purchase of property are automatically magnified. If necessary, ask a friend or relatives for advice to help you determine whether you are indeed ready to purchase property or not, and always meet with a mortgage lender.

When you choose to work with me I will not pressure you into purchasing a home. It is a big decision and my job will be to educate you on the process and help you make the best decision.

Sometimes that decision is to hold off for some time. Here are a few testimonials of past clients who mention that I'm not a pushy agent:

We used look as our Realtor because he was not pushy. We really like how patient, kind, and respectful Luke was during our time of purchasing a home. M & A Tibbe

Luke was very friendly and pro-active in finding us an array of suitable condo's in the area. We looked at several different properties, and Luke provided great insight into the history of the units. Even after we closed, Luke continued to help us with questions we had. Luke is not pushy like many of the other Real Estate Agents, and provided a very professional and positive experience! C. Brieden

Luke Bouman is the most excellent real estate agent we have ever known. When Steve was transferred to Holland, MI in 2009, Luke offered his services in helping us find a home. We had no idea it would take a year and a half to sell our home in Illinois, but Luke never lost interest in us and continually kept us informed as to the housing that was available in Holland. He made it a point to get to know us, our preferences and dreams of the home we would purchase once we were free of our other house. Luke is personable, friendly, loyal, trustworthy and knowledgeable.He knows real estate and offers suggestions on possibilities. However, he is never pushy or bossy. We could not have had a more pleasant experience in purchasing a new home. We prayed that God would guide us to the perfect house for us, and God did so through Luke Bouman. Luke is A#1 in our book and will always remain a good friend. S & J Jones

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Assess Level Of Connectivity When Buying Real Estate

Never purchase property without assessing the quality of transportation facilities and level of connectivity between the city and nearby major urban centers. What is the point of purchasing real estate at affordable prices if you are situated hundreds of miles away from big cities? Whether you like it or not, big cities offer access to best facilities and amenities and staying too far away from such cites can create long-term complications. The smartest option would be to choose a city that is either close to big cities. Or, it should be well-connected so that you can travel to different places without any hassles whatsoever.

Living in West Michigan gives you the option to be close to Grand Rapids giving you the benefit of visiting the city but not being too close so you can avoid the busyness of it.

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Try Purchasing Property Instead Of Searching For Rental Deals

Considering the present condition of the US housing market, it makes sense to purchase property instead of searching for good rental deals. Instances of foreclosures, although reducing, are still significantly high. This means that a large number of individuals in the housing market are desperate to dispose off their property to repay their mortgage loans. You can use this opportunity to purchase valuable property at a significant discount. If you are in a position to afford property, then you should seriously consider taking a quick decision. Delaying this decision and searching for rental property may result in an invaluable loss of opportunity.

Holland MI Real Estate

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Renting Property- Not A Good Long Term Option

Renting property as a short-term strategy is a good move. However, there is absolutely no sense in living in rental property for long durations. You should try to purchase property if you are thinking about the long run. What is the point of paying rent for 30 years only to find that you have not created any long-term asset whatsoever? Divert this amount towards your mortgage loan repayment instead and you will automatically end up with your own house at the end of the tenure of the housing loan. Hence, never forget that the long-term goal should be to purchase your own property. If you are a renter and want to start looking for homes let me know.

Zeeland Michigan Real Estate

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Last Good Opportunity to Purchase Property?

An analysis of the US housing market clearly indicates that the crisis has come to an end and that recovery has begun. When the speed of recovery may not be very high, there is absolutely no doubt that the property market is, slowly but surely, coming back to normalcy. This is evident from the drastic reduction in the number of foreclosures all over the country. Further, there has been an increase in the average sale price of houses as well. As a potential buyer, this is a clear indication that you are probably looking at the last good opportunity to purchase property before prices start climbing again. Is this the last good opportunity to purchase? Probably not, but it may be the best its going to be for several years so now is the time to take advantage.

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Buying A Home Consider Quality Of Educational Facilities

If you are thinking of buying or building a home, then it is very important to analyze the educational facilities available before purchasing property in a new city. Expecting your kids to compromise on his or her education simply because you are getting a good real estate deal does not make sense. Of course, your child may consider moving out for higher education but basic high school education infrastructure must be present to ensure your child does not suffer later in life. There is no harm in paying a premium for living in a city where your child can enjoy top-notch educational facilities. Home values also tend to hold stronger and appreciate more when you are located in a good school district.

West Michigan Real Estate

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