Today, I just wanted to take a minute to wish you a merry Christmas and a happy New Year! I hope you are able to spend some quality time with your family and friends. 2017 was an amazing year, and 2018 will be really great. If you have any thoughts on buying or selling in 2018, contact me so we can plan out this year for you. To hear my full holiday message, watch this short video.
Whether you love it or hate it, winter is here. You need to prepare your home properly in order to avoid big heating bills and freezing nights when the cold weather hits. Now, there are lots of large energy-saving projects out there, and they can all be worthwhile investments.
However, I want to share just three super simple tips with you today. Even though these tips are simple, they are still enormously effective in making you more comfortable at home while saving you money at the same time:
1. Get a draft snake (or two). The Department of Energy estimates that reducing drafts can lead up to 30% in energy savings. One simple way to reduce many of the drafts in your home is to install a "draft snake," which is a little cloth element that slips under your door. You can get a collection of draft snakes for just a few dollars each on Amazon, or you can fashion your own using nothing more than an old towel.
Reverse your ceiling fans to start.
2. Reverse ceiling fans. Hot air rises, while cool air hangs around your feet. This can be frustrating in the wintertime, because you don't want to run the heating without getting the benefits of it. An easy way to fix this is to run your ceiling fans in reverse. Instead of pushing air towards you, the fan will move that hot air that's clinging to the ceiling, dispersing the heat and making you feel warmer while spending nothing more on heating.
3. Flush your water heater. There are many things you can do to improve the efficiency of your water heater. However, simply draining your water heater can get rid of sediment and particles that are clogging up your heating machine and making it less efficient. Depending on the mineral content of your water, this could lead to a significant improvement in efficiency.
And there you have it, three simple and little-known tips to be a little more ready for the winter. If you have any questions for us about these tips or about anything else related to real estate, give us a call or send us an email. We look forward to hearing from you.
Mortgage rates are still at historic lows. For many homeowners, it's a great time to refinance. Refinancing allows you to pay off your current mortgage with a new mortgage at a lower rate. Refinancing means lower monthly payments and more money left in your pocket.
But here's something important that many people don't know: Refinancing can affect your credit score negatively. You see, when you refinance, the new creditor will do a "hard inquiry" about your credit history. This inquiry can actually lower your credit score. Looking for new credit lines (like a new mortgage) equates with greater credit risk.
A hard inquiry could decrease your score by five points automatically.
How much will a hard inquiry actually lower your credit score? This depends on several factors. In some cases, a hard inquiry might not lower your credit score at all. However, if you've recently opened up multiple new credit lines (auto loans, credit cards, etc.), then a hard inquiry could decrease your credit score by up to five points. This is true if you only have a short credit history. And if you shop around for the best rate for more than 45 days, you will get multiple hard inquiries. Each of them will contribute to the total effect on your credit score.
So what does this all mean for you? Unfortunately, there's no simple answer. It's going to be a part of the calculation you have to make for yourself, which will also include the refinancing fees, your own credit history, and how much you could be saving with a refinanced mortgage.
If you're looking for help in making this decision, give me a call. I can put you in touch with several top Grand Rapids mortgage brokers.
Here’s a paradox for you: Right now, homebuyer confidence is at an all-time high, according to a survey performed by Fannie Mae. Furthermore, an increasing number of people, particularly renters, think now is a good time to buy a home. Yet at the same time, housing inventory remains very tight. It’s down 6.5% nationally from last year. Home prices are also up 6.9% nationally over last year.
In other words, homebuyers are optimistic at a time that the market seems to be favoring sellers. So, what's going on? Why are homebuyers so optimistic all of a sudden? Here are three possible explanations: 1. Lending is loosening up. Over the past several years, mortgage rates have seen historical lows. This has meant that homes are actually more affordable, in spite of the increase in prices. However, lending has been very tight. Fortunately, that’s changing. Lenders are approving mortgages at the highest rate since 2011, with 77% of mortgages for home purchases approved.
2. Jobs are looking good. At the moment, fewer homebuyers are worried about losing their jobs, according to the same Fannie Mae survey. It's not just job security that's contributing to greater optimism about buying a home. Overall income is higher, making homes more affordable by comparison. The median household currently has 150% of the income needed to buy a median home, compared to a historical average of just 125%
Lenders are approving mortgages at the highest rate since 2011.
3. Long-time renters are ready to buy.Millennials, the generation of people born after 1980, have largely opted out of homeownership until now. They have been renting for a longer time, putting them higher up on the pay scale compared to previous generations of first-time homebuyers. But now, many millennials are finally hitting an age when they are willing to commit to buying instead of renting. This is reflected in the Fannie Mae report, which states that much of the increase in homebuyer optimism comes from current renters.
What all does this mean for you? If you're looking to buy a home, all of the above reasons should give you confidence that now is indeed the right time to buy.
If you’re thinking about buying or selling a home, click the links above to search for homes on the MLS or find out how much your home is currently worth.
And if you have any questions about the Grand Rapids area real estate market, whether you're thinking of selling or buying, give me a call. I'm here to help. I look forward to hearing from you soon.
Today I’ve got some exciting news: The banks are really loosening up.
The banks are really loosening up.
Buyers can now purchase a home with 0% down.
I’m really happy to hear this news, since I know what it will mean to many buyers in the market right now.
If you know of anyone who has good credit and a good job but simply doesn’t have the means to come up with a huge down payment, I would love to help them out.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
As someone who has been in the real estate business for 25 years, there are a few things I’ve observed during that time. Today, I want to share three key points about the buying process.
I’ve been in the real estate business for 25 years, and I can’t believe how quickly time has gone.
Over that time, I’ve learned a lot of things. That’s why today, I want to share three things I often see come up in the home buying process:
When people make an offer, it is totally contingent on a great home inspection. Here on our team, we’re connected to a great home inspector who will take care of looking into even the smallest details. If you find anything you don’t like, you can totally back out, as per his contract.
Every offer is contingent upon a great appraisal. Everything must check out on the lending side before you can get into the house.
As a buyer you don’t pay any commissions. From your side of the transaction, this isn’t something you’ll need to worry about.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
Today I’m downtown checking out some properties for sellers. I totally love my job and have a great time doing it.
Since that’s the case, I never mind helping you out. It’s never a bother for you to call and ask me to come out to check out your house.
I love helping people figure out what their home is worth, and also giving people tips on how to make their house even better.
Some people even want to go out and look at a few different houses for ideas before selling their own. This will help me figure out what you’re looking for and get the process started.
I love hearing from and helping all of you.
I love my job, so I love hearing from and helping all of you.
If you have any other questions, would like more information, or want to know how I can help you, feel free to give me a call or send me an email. I look forward to hearing from you soon.
I’ve got two quick, helpful tips for you today if you’ve been thinking about buying a home. Here is what I’ve noticed recently about home buying in this market:
1. It’s getting a heck of a lot easier to buy a house. There are more and more houses on the market with fewer and fewer people looking to buy them. We’re not running into as many multiple offer situations. It’s a good time for buyers to jump in.
2. Getting a mortgage is a lot easier. Companies have loosened up their guidelines and credit restraints since the recession.
If you’re looking to buy a home, now is a great time. If you have any questions or need any assistance, give me a call or send us an email. I would love to help.
I’m joining you today outside of one of my favorite restaurants, Core Life Eatery. It’s a great place for lunch.
If you’d like to eat with me here, or anywhere else sometime I’d love to get together. Whether you have plans to buy or sell now, or you're just curious about the real estate market in Grand Rapids, I would be happy to help.
I can give you solid advice and good estimates, but there’s no pressure to buy or sell if you’re not ready.Just give me a call or send me an email and we’ll set something up. I look forward to hearing from you soon.
I love helping people meet their real estate goals. Today, Bob sits down to share his experience of working with me to buy a new home and sell his current one.
Today, I have a great success story from one of my clients, Bob. Here’s what he had to say:
“My wife and I chose to work with Larry Martin from Keller Williams, and it was an easy choice. I prefer to do business with somebody I can trust, and Larry was someone I could trust.
“I believe that when you trust somebody, you trust three things: their confidence, their character, and their compassion.
“Larry obviously knows his stuff. His expertise was there, and his success speaks for itself. As for character, I knew he would work very hard, tell me the truth, play by the rules, and be ethical—I wouldn’t have to worry about any of that.
Larry really cares about his customers.
“And Larry really cares about his customers. You’re more than just a number; you’re a person. We talked about the sell side of things and I appreciated that. We actually started with Larry several years ago. We said, ‘At this point, we would like to sell. What should we fix, what should we repair, and what should we let go. We don’t want to sell a perfect house, but we want to sell a sellable house.’
“He talked us out of some projects, which I loved, but it was excellent. Throughout the process, communication was clear. His partner, Dana, was very helpful, and Brent, who did the inspection, was very, very thorough and personable.
“I think we got the best. I bought through Larry and we’ll sell through Larry, and I recommend that you do, too.”
Thanks to Bob for sitting down and sharing his experience with us. If you or anyone you know is thinking of buying or selling a home, just give me a call or send me an email. I would be happy to help you!
Today I am joined by Gene Szpeinski, the Realtor of the Year and my manager. Gene shares a few kind words about my career, as well as his take on our current real estate market.
Gene Szpeinski is the Realtor of the Year. He also happens to be one of my good friends, as well as my manager.
Gene has known me for a very long time. “I knew his father, too,” says Gene. “Larry is a third-generation Realtor, and they’re now working on getting the fourth generation into the business. That means they have really served West Michigan families for a long time, which is really awesome.”
“Larry spends an enormous amount of time making sure that things are right for you in your transaction. He’ll go the extra mile to make sure that it’s right because he wants to do business with you again, as well as with your friends and family. Referrals are the lifeblood of a Realtor’s business, and you can’t be a third-generation Realtor, last this long in the industry, or do as well as he has without really good referrals from people,” Gene adds. “He is always focused on what he can do right for you.”
Besides these kind words, Gene also took a moment to share what he thinks of our current market.
These last three years have been very interesting for our market.
“This is my 45th year in the business, and the last three years have been very interesting,” says Gene. “Parts of the market have no inventory whatsoever, so when something gets listed, it’s immediately descended upon and receives multiple offers. So it’s a very active time for a lot of folks.”
“Not every segment of the market is quite that speedy,” he adds, “but for the most part, we just have a shortage of properties [on the market].”
While this lack of inventory can make things difficult for homebuyers, I look at eight to 10 properties a week that have yet to be listed on the market. Once I meet with you, I can find out exactly what you’re looking for and find you the perfect house before it even hits the market. Thanks to Gene for stopping by. As always, if you have any real estate questions, please don’t hesitate to reach out to me. I would be happy to help you!
What all goes into the home selling process? Since we're in a great market for sellers, you might receive multiple offers for your home, which means you'll need to carefully consider these factors.
We're currently in a great market for home sellers. How does the selling process actually work, though?
It starts with a Realtor like myself coming to your home to assess it and tell you what it's worth, then providing you with some tips for making it more sellable. Next, we'll list it for sale. If and when offers start coming in, we'll examine a few different factors.
Say you list the house for $200,000 and the first offer uses FHA financing and asks for $3,000 in closing costs and the second offer is an all-cash, full price offer wanting to close in 30 with only 10 days possession. Say the third offer is a VA loan from a veteran for $206,000 and asks for $4,000 in closing costs. Let's say the last offer—and probably the best offer—is an FHA financed offer for $208,000 and asks for $3,000 in closing costs with a 40-day closing and 30 days possession after closing, and the buyer is pre-approved by a trusted local lender.
Of these offers, there are a lot of factors to consider. For one, having an offer that's approved by a trusted local lender is important. If an offer comes in from a bank I don't recognize or like, it will probably be shifted down the pile.
With every offer, there are plenty of factors you need to consider.
Also remember that when selling your house, you'll also need time to look for your next home and time to close on it so that you don't have to move twice. In the case of our best offer, the buyer is giving a 40-day window for closing and 30 days free possession, which gives us plenty of time shop for a house and close on it (hopefully on the same day as the other home's closing) and plenty of time to move.
Of course, there's a lot more that goes into examining these offers, but the important thing to remember is how much I study these offers to make sure you get the most for your situation and avoid having to move twice.
If you have any other questions about selling your house, don't hesitate to give me a call or send me an email soon. I'd be more than happy to help you.
Being a first-time homebuyer is very exciting, but there are a few things you should know and questions you should answer before starting the process. Before starting the process of buying your first home, you need to:
Financing is an important part of the puzzle.
Know what financing is best for you. If you can qualify for certain programs through the state of Michigan, you may be able to get a $7,500 grant. There are also financing programs from the USDA and VA that don’t require any down payment.
Know what you are looking for. What area do you want to live in? How many bedrooms/bathrooms do you want? What amenities do you need? Answering these questions will allow us to set up a profile for you on our home search website, which will only send you the listings that match your criteria.
Once you’ve found your dream home, we can go through it, take a look at everything, and advise you on where you should make an offer in the current market. It’s that simple!
If you have any questions for us or are looking to buy a home in Grand Rapids, don’t hesitate to give us a call or send us an email. We look forward to hearing from you!
A lot of my clients here in Grand Rapids ask me about Zillow. I will be providing you with a brief overview of the website including its pros and cons.
If you go to Zillow you will notice a pre-foreclosure tab, and this indicates homes that have not paid their mortgage for 30, 60 or 90 days. Oftentimes these homes are not actually for sale because websites like Zillow, Trulia, and Realtor.com get their information from credit reporting agencies. Often times this information is inaccurate and can mislead buyers which can cost them time and money.
The other tab in Zillow is a foreclosure tab. Zillow finds these listings from court reports that indicate which properties have been repossessed by banks. These listings can also be inaccurate and outdated.
I have access to the latest foreclosures.
I have access to the most updated foreclosure and pre-foreclosure listings and will not lead you astray in your home search. Instead of wasting your time with real estate websites, I urge you to come to me so that we can expedite your home search.
If you are interested in finding these kinds of properties in the Grand Rapids area, then please do not hesitate to contact me via phone or email. I look forward to working with you.
The spring selling season is just around the corner, and our market is already starting to heat up. Whether you plan on buying or selling a home this spring, there are a couple things you should know. I've met with five homeowners in the last month who have each given me Zillow's estimates on what their home is worth. I have sold all five of those homes, and for quite a bit more than what their Zestimate originally said they would. If you are looking to sell your home, make sure you give me a call so I can come out totake a lookat your home and give you its true value.
I have sold all five of those homes, and for quite a bit more than what that Zestimate originally said they would.
One question I've been getting a lot lately is, "What is the best way tobuy a foreclosure?" Well, there are a few different kinds, and I have experience with all of them, including HUD homes, VAforeclosures, short sales, and more. If your dream is to buy one of these types of homes, give me a call. I would love to help you with that as I have recently started marketing these types of homes.
If you have any questions, feel free to reach out to me via phone or email. I look forward to hearing from you!
There are a couple of really exciting things going on in our real estate world right now.
The first is that the market has really jumped—we just surpassed 2006, making now a really great time to sell real estate. If you're looking to take advantage of this market by selling your house, I can give you selling tips and show you how to prepare your house in order to sell for top dollar.
Above all, I can tell you the maximum value you can get for your home. Just give me a call or send me an email soon. I look forward to hearing from you!
