Although not for the same reason as our once brisk housing market of the mid-2000’s, today’s home buyers are once again faced with contending with others for the same home. Who would have thought? This returning dilemma is due to the shortage of homes on the market and the pent-up demand for affordable housing, both of which are due to low mortgage interest rates and current home prices, the lowest since the early l990’s.

Even here in West Michigan, Realtors are experiencing a shortage of homes for their clients. Networking is becoming more frequent among agents and buyers are beginning to understand that they must be ready to have an immediate response, if a house comes available that meets their needs. Actually, “sold before broadcast” listings are hitting our local SWMRIC Association, which is both refreshing and a bit daunting!

Basics of a Credit Card Score and how it relates to buying your Grand Rapids Home

Lenders use credit scores to assess your ability to pay your bills. We Americans (and more locally Grand Rapidians) have many credit scores, not just one, and these scores can change daily or whenever there is activity or a new piece of information.

The credit score “model” was created by the three major credit reporting companies: TransUnion, Experian and Equifax. There also exists another model, created by Fair Isaac, which is called FICO and it is most commonly used to determine ones credit worthiness, which is typically used by mortgage lenders.

The spring market for Grand Rapids, Michigan real property sales is upon us. In fact, it seems to me that there isn’t a start or beginning—it just happens. Each year is different. Is it the weather pattern, favorable economics, mortgage interest rates, or fairy dust (?!) that determines "The Date"?

Interestingly, after networking with agents outside of our West Michigan region, reading the local Grand Rapids and national news, and listening to the radio, it becomes clear to me that West Michigan’s market is not unlike markets that are hundreds of miles away from here. It is also clear that we are already in the spring market.

Are you aware that almost 6-MILLION American adults (ages 25-34) are living with their parents? These young people are “prime” would-be, might-be clients for buyer-agent Realtors. This number of youth represent close to a 50% increase since 2003 available statistics. If you are among the “parents” supporting your adult children, there is no better support for today’s Realtor: You, as parents, are encouraging your children to buy real property! Yes!

Middle-aged parents, who are home owners themselves, not only understand the benefits of owning a home but are happy to encourage and help their family with what they consider to be a great long term financial investment as well as a true value in today’s economy. Homeownership usually does lead to long term wealth.