Moving Downtown?

Although downtown condo living in Grand Rapids did not turn out to be as big as we once thought it would be there is an existing market out there. As well, most people that did make the move downtown argue that it was well worth it. Finding buyers for downtown condos has gotten more difficult over the past year and the amount of condos on the market for sale right now is over 200 but what exactly does that mean? Part of it is probably simply because of the market. It is becoming increasingly difficult to obtain a loan and people are hanging onto the disposable cash as they wait for the market to turn. The other part is that developers overestimated the growth of Grand Rapids and built a few too many condos than there are buyers.
However, like I stated before, there is still a market for condos and those of us who do live downtown generally really enjoy the convenient and faster paced life style that living downtown brings. Downtown living continues to attract a vast variety of empty nesters, young professionals and more. The allure of living downtown coming from the time saving factors such as no yard work or long commutes as well as the plethora of new restaurants to dine in, theatrical performances at the Civic and the latest exhibit at the new Art Museum all within walking distance. Grand Rapids continues to grow even as the residential real estate market downtown slows down. And it will continue to get bigger and better in the future as revitalization of our city brings more innovative companies and eager investors. Living downtown is certain to bring buyers and renters for years to come. Now all we need is modern mass transit, a full service grocery store and pharmacy and we’ll be all set.

New Office

We are thrilled to tell you that soon we will be moving into our new office. Recently we purchased a small building on Wealthy and in the next couple of months we will be slowly remodeling it into our office. Stay tuned for more details, and feel free to stop by and see the progress we make over the next couple of months. We are so excited to become a part of the Eastown business district!

Downtown GR Condo For Sale

Incredible opportunity to own a condo in the middle of a 60 million dollar St Mary's hospital renovation downtown Grand Rapids. This condo has all the amenities that one could want living downtown, granite counter tops, stainless appliances, large open windows, deeded parking, a washer and dryer, a roof top deck, hot tub and more. Located within minutes from all of GR's hotspots, and only 6 units in this building to keep assocation dues low!



Call Rachael today for more information or for a private showing.



Rachael Veldkamp

Maksor Realty & Blu House Properties

616.648.0295

Living Simpler

My Husband and I live in a Condo downtown with less than 1000 square feet so this article on MSN is particularly interesting to us. There are however many other people in Grand Rapids who have chosen to move from a 3000 sq. foot home in the subarbs to a condo half or even a 1/4 of their homes size downtown. It can be difficult to downgrade on space but for us it is particularly freeing. Life is easier with less stuff, and for me and my husband it has forced us to spend time with one another when we are not both working crazy hours. It also helps us get out more, and stay active. I will be honest sometime it is frustrating, but the rewards most often outway the downfalls. For more information about living in smaller spaces or in a downtown condo click on the link below or email me at rveldkamp@grar.com.


www.realestate.msn.com/buying/Article2.aspx?cp-documentid=6803386>1=35000

Exclusive Properties in Grand Rapids & Grand Haven

Recently we listed some incredible penthouses at Union Square. We are excited to introduce to you 600-620a & b Broadway Ave NW. These two penthouses are unique because they feature floor to ceiling windows throughout over looking a beautiful view of downtown Grand Rapids. Both condos have over 1500 square feet, are professionally designed and have private balconies. They have open floor plans, granite countertops, European appliances and more. This is a great opportunity for someone looking for an exclusive penthouse in downtown Grand Rapids.

Another extraordinary property that we are excited to introduce you to is our Zephyr Condominiums in Grand Haven, Mi. These condos combine sophisticated design with a comfortable resort lifestyle, to create an understated elegant retreat. They boast over 1,500 square feet of living space, top of the line finishing packages and private balconies over looking magnificent Lake Michigan and the Pier. Each condo is designed to fit your individual needs.

Don't miss out on these great opportunities. Call or email Rachael for more details!

NEW EXCITING NEWS FOR WEALTHY STREET!

Four residential condos for sale in Wealthy Historic District. Each condo is 1000 square feet with 2 bedrooms and one bath. This will be the hippest place to live in the Heritage Hill, Cherry Hill area. Within walking distance from Wealthy Bakery, Art of the Table and more. Each condo will have come with off-street parking, private balcony space and private storage in the basement. These condos will boast many GREEN building qualities and historic preservation. Call or email Rachael for more details or to request a info packet at 616.648.0295 or raeday55@gmail.com.

INVESTOR TIPS IN A SLOWER MARKET

Just because the market has been slower lately does not mean that it is not a good time to invest. Authors Wendy Patton and Justin Ryan argue that “more money has always been made in a down market than in an up market.” In their book, Making Hard Cash in a Soft Real Estate Market Patton and Ryan highlight important ways to use this market to your advantage. The following are 5 tips from the book that offer some insight into the opportunities a slower market brings investors.

1. Timing is Everything:

Enter the market early because there are so many good buys, opportunities to

negotiate price, and lower interest rates.

2. Get Financially Ready:

Make sure to calculate all the costs involved with investments such as holding costs and taxes. Have a reserve and keep in mind your risk level such as whether you flipping for a quick profit or holding on to the property to make a larger return in the long run.

3. Buy and Hold:

Property generally appreciates over time. When you are able to buy for the right price in a slow market and hold on to a property you may reap many benefits in the long run. There is always an option to lease a property to cover some costs before selling.

4. Find the Best Deal:

Right now there are great deals in West Michigan. Foreclosures and builders who have unsold properties offer investors the opportunity to buy for next to nothing. So many sellers are advertising incentives such as offering to pay closing costs as well.

5. Have an Exit Strategy:

Have a strategy to sell those properties and hire an experienced Realtor who assists you with putting together a plan to sell when it’s time. A good selling plan will help sell a property faster and for more money. Patton and Ryan advise “know how you will get out before you get in.”

From the book: Making Hard Cash in a Soft Real Estate Market, by Wendy Patton and Justin Ryan and realtor.org