Friday, November 19, 2010

Coldwell Banker Homes Magazine Adverting

Coldwell Banker Homes Magazine Adverting is Now Available!

If your business is related to the home buying and selling process to advertise in this widely read publication. There are over 200 sites that stock this magazine. In addition to an add in the magazine all display advertisers receive a FREE business directory listing/ free website listing on http://www.cbgreatlakes.com./ Also Coldwell Banker's 100+ agents recommend and utilize the services of those who advertise and support us to their clients.  If you are interested in taking advantage of this opportunity contact Andrea at 616-355-6387 or andrea@andreacrossman.com.
 
Print this form and fax to Andrea at 888-355-6387 or email to andrea@andreacrossman.com to reserve your add in the magazine!

Thursday, November 18, 2010

Happy Thanksgiving!




Wishing you and all your loved ones a
Happy Thanksgiving!

From








Tuesday, November 16, 2010

Lake Macatawa Real Estate Market Update

The height of the market in West Michigan real estate in general was 2005 (in terms of most numbers of sales at close to 1,500 units) and that number was down to about half that many in 2009. As it relates to Lake Macatawa, going back from Nov. 15 to Nov 15 by year here is the breakdown of number of sales (homes and condos) on Lake Macatawa:

2006 to 2007: 8 homes and 2 condos sold. Average sales price was $819,818. Highest sales price that year was $2,072,500. Average days on the market was 262 days for those 10 sales.

2007 to 2008: 12 homes sold and 5 condos sold. Average sales price was $724,010. Highest sales price that year was $1,590,000. Average days on the market was 263 days for those 17 sales.

2008 to 2009: 3 homes sold and no condos. Average sales price was $504,508. Highest sales price was $613,625. And average days on the market for those 3 that did sell was 527 days.

2009 to 2010: (A BIG improvement, especially in the last 6 months): 10 homes sold and 5 condos sold. Average sales price was $629,333 in part because one of those sales was a very small condo at Lake Ranch near the General Store at $68,000. Without that sale in there, the average sales price would have been $669,428. Highest sales price was $1,600,000 but there were 3 sales over $1 million in the past year. Average days on the market is still quite high with 518 days on the market on average for those that did sell (in large part since almost nothing sold last year). There definitely seems to be some increased consumer confidence and 2nd home, lakefront and upper end home buying.

Mortgage rates are phenomenally low. And most people are not having a hard time finding financing for 2nd homes or high end residential loans. Some things have changed in the banking world (such as most banks requiring 20 to 30% down now vs. 10% for a 2nd home). Jumbo rates (those loans over $417,500) are not far from "conventional" rates. And we just closed on one Jumbo mortgage with a rate in the low 3% range.

For more information on purchasing a home or condo in this unique area contact the Andrea Crossman Group.