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Grand Rapids, MI Real Estate News

By Lola Audu, Audu Real Estate~Grand Rapids, MI ~Welcome Home!
(Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate)
 Yes, That's right, the Grand Rapids Multiple Listing Service has Just Added a Brand New Category to their On-line Profile for real estate agents.  Your Realtor can now search for Homes on-Line that are available for Rent, Lease to Purchase Options AND Land Contracts!This has happened in response to the market conditions in our area.  It All started with the ARM craze...short mortgagease for Adjustable Rate Mortgages.  Since the year 2000 there has been a 25% increase in the number of homes financed through Adjustable Rate Mortgages according to the Mortgage Bankers Association.  Most of these mortgages were set to adjust between 2-5 years.  Subsequently, we are seeing the "first wave" of sometimes pretty hefty increases in mortgage payments and this will continue for the next 2-3 years...
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By Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375, Real Estate Services You can Trust!
(Flexit Realty "Flexible Home Selling Solutions")
I have been reading everything I can find on the housing market NAR, MAR, Inman, the Press, Wall Street they all say the something that we have known.  The market is slowing down!  I have found listings are easier when you market the properties at the right price and offer good advice on how to arrive at the right price.  I see comparables that I use in my presentations as examples of how to over price.  I called a couple of the agents guilty of this pricing practice, since I have had closings and business relationships with them.They both told me that the sellers had instructed them on what price they should list the home for the market.  I asked if they had given the sellers any evidence that the price would only cause them to sit on the market and be forced to reduce prices later.  T...
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