Market Update Late Summer 2018- Greater Grand Rapids

Real estate was a wild ride this spring. Inventory hit an all time low at 0.9 months of inventory this past March. There was extreme competition among buyers in the $120-250k price ranges. Most of my home buyers searched for at least a few months and wrote multiple offers. I educate my buyers on the different criteria the seller will use to evaluate the offer, and we worked to their strong points as best as possible. For example, some people were flexible in their timing, so they offered sellers longer time to occupy the home after closing. Some were tight on timing, but could offer larger down payments and earnest money. ​All of my buyers were well prepared and writing strong offers.

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