Grand Rapids Michigan Real Estate Podcast
Larry Martin
If you are looking to buy or sell a Grand Rapids Michigan home, get all the information and the latest updates, tips, and tricks from Larry Martin- your professional Grand Rapids Real Estate Agent.
- What Do Rising Inventory Levels Mean for You?
What’s been going on in our real estate market? Now that 2018 is half over, it’s time to take a look at how conditions have changed.
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Now that we’ve reached the year’s midway point, inventory is increasing. These days I’ve been going on six to 12 listing appointments each week. So what does this mean for you? Well, this boost in supply is good news for buyers. If you or someone you know has been thinking of making a home purchase, now is a great time to start your search. And, as always, my team and I would love to help you achieve your real estate goals, whether you’re buying or selling. To hear my full message on our market, watch this short video.24 July 2018, 4:16 pm - Why Is This Former Homebuyer So Happy?
This latest client success story we’d like to share with you is one that’s 35 years in the making.
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A lot of people are afraid to buy a home, so I wanted my friend Matt to come in and talk to us about his home buying experience.
Matt and his wife were newlyweds in 2016 and wanted to buy a house right away. They had a nice sum for a down payment, but wanted to make sure they found a good Realtor. A friend mentioned our name to him, so he gave us a call and we got to work.
The process of searching for a home was enjoyable for Matt and his wife. We gave them a list of homes for sale that fit what we were looking for. I’ll let Matt take it from there:
“Once we found a good home, we got outbid the first time. The next time a great home came up, we wanted to make sure we got in right away. We helped them put in an offer right away, and it got accepted. We crafted the offer in a way that got them the home without having to pay the highest price.”
Matt and his wife had a very enjoyable experience.
It’s been a year and a half since they’ve been in the new home. They paid $140,000 and now it’s worth nearly $175,000. They've been keeping up with updates and they’re excited to have such a great investment in their possession.
Thanks to Matt for joining me. If you have any questions for us about the home buying process or anything else related to real estate, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.19 April 2018, 8:13 pm - Another Client Success Story From an Old Friend of Mine
This latest client success story we’d like to share with you is one that’s 35 years in the making.
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Today’s client success story comes from Michael Lapciuk, a friend of mine who I’ve known for a long time. This story starts all the way back in 1994. I asked him a few questions so that you all could hear the story in his own words.
How did we meet?
“I’ve known you for years—since high school, and when you went into the real estate business, I wanted to buy my first house and contacted you. I didn’t know about the process or what it entailed, and I actually bought my first house right down the street from your parent’s home, so you knew the area, knew the market, and your dad was in the business at the time. You guys helped me through the process and helped me get the money to put down. It was easy, and I knew that when I was going to purchase my new home coming up this time, I was going to go back to you. It was easy the first time, so I knew where to go.”
This year, you were looking at selling a condo. What happened then?
“It was a very dynamic 2017 for us. We were sitting at the house and I remember contacting you. We were thinking about property in Arizona and you flipped the script on me and said, ‘Hey, what about selling your current condo that you live in?’ I said, ‘Well, it’s not for sale,’ and you said, ‘Well, we have some people who are interested in your property.’ We then sold the condo we were in, and you helped us find a new one—a For Sale By Owner—and helped us close that deal. But we also had the rental property you knew about that we owned in Kentwood. That rental property, because of the market and the advice you gave us, we put up on the market. At the same time, we closed on the condo that we sold for cash, we purchased a new condo to move into, and then the seamless sale of the one we owned in Kentwood as a rental property, it all happened in about two months. A lot of things that happened for us financially this year benefited us, so we really appreciate it and my wife and I are indebted to you wholeheartedly.”
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We always had the answers we needed.
” What is the best thing that came out of it for you?
“We reduced our monthly payment by half. To take a home that we made a lot of equity in and roll that over into a new payment on an upgraded condo. We just used the funding to reduce the payment and saved a ton of money, through the advice of you. Then also with the home we had in Kentwood, you gave us some advice as to what we needed to upgrade and what we needed to do to get it ready for the market. A client came up, you helped the process, and took care of it. Like I said, we owe you a lot of credit.”
How did it go working with our staff?
“Easy! When you weren’t available, there was someone that had answers for us. When someone here wasn’t available, I was able to contact you, and you returned my text, emails, and phone calls. I know you’re busy, but we always had the answers we needed.”
I want to thank Michael for taking the time to sit down with me. We can provide the same great service to you that we did for him, so if you have any real estate questions or you’re thinking of buying or selling a home in our market, don’t hesitate to reach out to us. We’d love to speak with you.
27 March 2018, 6:54 pm - Doing the Most for Our Clients: Andrew’s Story
Listen to this incredible story about how our buyer’s agent went the extra mile for his client and got him a great deal on a home.
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Today, I want to introduce Andrew, a buyer’s agent on our team. He’s an awesome guy and has a really great story that I’d like to share with you.
Andrew had a client that he’d been been working with for about a month or so. In working with him and showing him multiple homes throughout the Rockford area, Andrew was able able to find him a very nice home that fit his young, growing family well.
Then Andrew and his client found themselves in a multiple offer situation. That might sound intimidating, but he was able to work with the listing agent and the seller as well, and they were able to win that offer. Despite the competition, Andrew was able to get him under contract and begin moving forward.
I personally heard Andrew calling the mortgage banker for the buyer. He asked the lender to call up the listing agent and put in a good word for the buyer. Andrew went the extra mile for his client and ended up getting him a really good deal.
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In a multiple offer situation, the goal is to find out what’s important to the seller and match up your offer accordingly.
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Andrew ended up helping get the house for well below asking price, including seller’s concessions. It was great for them to have money set aside that they normally would have had to pay for closing costs, where they can now use that for repairs and renovations instead.
Thankfully, Andrew was able to work it out very well and create a win-win for everybody. In a multiple offer situation, the goal is to find out what’s important to the seller and match up your offer accordingly.
For any questions about buying or selling a home, or real estate in general, please feel free to reach out to us. We’d be glad to use our knowledge and skills to get you the best deals possible.
28 February 2018, 3:56 pm - The Most Accurate Information Is on Our Site
Where can you find the most accurate information about homes for sale on the market? Look no further.
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Over the past six months, I’ve been developing a brand-new website. I got tired of people searching for and finding great properties only to later find out that they were already sold.
Our website is going to clear all that up and we’re excited for you to see it. You can check it out here. You can search for homes, check your home’s value, and more. All the information on here is accurate and up-to-date.
Everything is accurate and up-to-date.
In the meantime, if you have any questions or are looking to buy or sell a home, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.12 February 2018, 5:04 pm - What a Past Client of Ours Has to Say About Working With Us
Today we brought on a past client for a buyer perspective on working with our team. Here’s what she had to say.
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Over the course of the month, several buyers come to me looking for information on the process of buying a house.
Today, I’ve brought on a past client, Quinn, to talk about her experience. Quinn heard about me from a good friend and former roommate, so she knew she would be able to trust my team and I.
“There were multiple times where within 20 minutes of a listing being up, you were able to get me directly into the house, right away. That was incredibly helpful with the market being what is,” said Quinn.
When we were working with her, we told Quinn not to settle. We truly wanted her to get exactly what she wanted, and that’s exactly what happened.
“You were able to help me figure out the best way to put out an offer that was going to be accepted over others,” she said. And even though she was at first unsure of how the process should go, she ultimately found that my team was able to make things easy.
From the home search, to the inspection, to closing, we worked hard to make things go smoothly for Quinn, as we do with all our clients. In Quinn’s own words, “It was a very seamless process.”
“A lot of that has to do with you and your team, and the care you take for your clients,” she added.
Overall, we did our best to help Quinn have a successful home search despite the sometimes difficult terrain of a seller’s market.
To those who are unsure about entering the market, our past client Quinn says, “Do it.”
That being said, Quinn had some final advice for those who are thinking of entering the market but aren’t sure. She says, “Do it. It’s intimidating, but with the right people, it’s doable. It helps to have a team of people who you trust surrounding you to help you along the way. I had that, every step of the way.”
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.
29 January 2018, 4:56 pm - Merry Christmas and Happy New Year!
Today, I just want to wish you a merry Christmas and a happy New Year!
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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.22 December 2017, 5:27 pm - Energy Saving Tips for Homeowners This Winter
We have a few different tips to help you save on your energy bills this winter. They’re surprisingly easy and inexpensive.
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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.
12 December 2017, 5:13 pm - Should You Consider Refinancing?
Refinancing your mortgage is a great idea, but it could affect your credit score. Here’s how.
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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.29 November 2017, 9:58 pm - Why Are Homebuyers Feeling Optimistic?
Why are homebuyers more optimistic than they have been in the past few years? Here’s what we found.
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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.13 November 2017, 4:42 pm - The Banks Just Made It Easier for Buyers to Afford a Home
Right now I’ve got some exciting news for buyers: the banks are really loosening up.
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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.25 October 2017, 6:50 pm - More Episodes? Get the App