This article from the National Association of Realtors analyzes the national housing trend in first quarter 2012. Here at Katie-K, we’ve seen the Grand Rapids Real Estate market heat up, with a real demand for inventory. If you’ve been thinking about putting your home on the market, contact Katie today!

Existing-home sales last month were down slightly but they remain at about a 4.6 million level, as they have since January, so if that level holds for the remainder of the year we could see a strong 2012, NAR Chief Economist Lawrence Yun said at a press conference in Washington yesterday.

The relatively strong performance this first quarter stems from the improving economy, Yun said. But it also has to do with the pent-up demand that’s been building for the last several years. At some point, people doubling up or living with parents will start forming households, as they always do when the population increases, and many of these households will buy. Yun thinks we’re seeing signs of this now.

Along with the relatively high level of sales, inventories are down, which helps on prices, and that’s reflected in the numbers. The national median home price is up more than 2 percent from last year.

It’s possible larger homes are being sold (normal for this time of year), so that could account for some of the price increase. But also distressed sales as a percentage of the market are starting to decline. So, that could be having an impact on prices, too.

All in all, despite the slight dip in volume, the picture looks relatively good going into the spring buying season.

We’ve had a ninja spring sneak up on us here in West Michigan, and if you’re scrambling to fit in a spring cleaning before listing or showing your home, you’ll love the latest addition to NAR’s Houselogic website. These clever folks have compiled a fun and fabulous “Anti-Martha Stewart Spring Cleaning Guide” complete with tips for kitchen, bath, family room, outdoors and green cleaning.  While Martha might eagerly tackle dirt and dust mites each spring, the guide points out, we mere mortals just don’t have that kind of time. So this guide is designed with tips on how to get your home into showing condition with as little effort as possible!

Here’s a sneak preview of the preface:

Our guide is all about time-savers and corner-cutters. Our advice:

• Don’t scrub when a good soak will do.

• Take small bites out of large tasks: If you live long enough, you’ll get it clean.

• Invest in white vinegar companies, because vinegar is the one cleaner you can’t do without.

• If a machine can clean it better and faster, buy it or rent it.

But seriously, folks:

• Shower heads: A warm white vinegar bath will get rid of mineral deposits.

• Windows: Use coffee filters or microfiber cloths instead of paper towels to wash windows and avoid streaks.

• Patio furniture: Vacuum wicker furniture with an upholstery attachment.

• Primo declutter tip: Get rid of “fat clothes” first, which make you feel bad about your body.

Hey, we’ve got a million of these. Martha, we’re sure, is shaking her head in dismay. But we’re sure our guide will help you get clean in spring and still have time to enjoy the season.

To explore the tips, visit:

http://www.houselogic.com/home-topics/the-anti-martha-stewart-spring-cleaning-guide/

The average agent sells 6 homes per year. Katie sold 51 in 2011. Katie is among the top agents in the Grand Rapids area . . .See what her record can do for you!

2011 Statistics & Year to Year Comparisons

• Number of homes sold by Katie as of 12/31/11 = 51
• Number of homes sold by Katie in 2010 = 71
• Number of homes sold by Katie in 2009 = 54
• Katie’s total sales volume through 12/31/11 = $18,396,400
• Katie’s total sales volume for 2010 = $22,337,900
• Katie’s total sales volume for 2009 = $18,145,600
• Average selling price of home Katie sold in 2010 = $314,618
• Average selling price of home Katie sold in 2011 = $360,713
• Average selling price of home listed by the GRAR in 2010 = $109,363
• Average selling price of home listed by the GRAR in 2011 = $115,184

Average Sales Price –vs- Average List Price
GR MLS – 89%
Katie K – 93%
Average Number Days on Market
GR MLS- 94  days
Katie K – 73 days

Contact us if you or someone you know needs an agent who can produce results!

As many of you are aware, Katie-K.com is heavily involved in Laughfest, which benefits the local Gilda’s Club and its support of people with cancer. We’re delighted that our kick-off this year netted a Guiness World Book of Records for having 607 people turn up to Rosa Parks wearing beaks and doing the chicken dance! Please come out and support this fun-filled week-and-a-half of events. For the full event schedule and ticket information, visit the laughfestgr.org website by clicking on the link. To read the full MLive coverage of the opening event, follow this link.

Many events still have availability. If you’d like to contribute to the cause, you may also contact us at Katie-K.com.

So get out, have a laugh, and support this great cause. Thank you for your support!

In this Realtor.com article, Barclays is projecting a slow rebound to the housing market, with normalization by 2014 provided the housing supply continues to shrink on a national level. Locally, the market continues to warm with the weather!

The housing supply is expected to normalize in two to four years, Barclays Capital projects, assuming that household formation rates increase to 1.1 million and construction remains slightly above 2011 levels. Household formation–which is a reflection of population growth and housing affordability–has drastically dropped since 2007, reaching about 300,000 to 500,000 per year. Historically, the rate is about 1.25 million. Home prices will likely see a 1 percent appreciation this year (that’s after falling 3 to 4 percent through March), Barclays Capital estimates. It is also projecting a 1 percent price appreciation in 2013, followed by 2 percent to 3 percent appreciation levels. But to reach those goals, the housing supply needs to continue to shrink first.

“We think this will be achievable only if household formation exceeds net construction for a sustained period,” Barclays says.

Inventory in the Grand Rapids market remains low, and  nationwide inventory is down 22% this month. As this Realtor.com article explains, lower inventory means higher prices for sellers. If you’ve been waiting to list your home, contact us at Katie-K to perform a CMA!

from the Daily Real Estate News

In a growing number of housing markets, sellers are facing less competition now compared to a year ago.

Inventory of for-sale homes has dropped by about 23 percent compared to this time last year, and fell by 6 percent alone from December 2011 to January 2012, according to Realtor.com data.

The age of the inventory is also declining, and is nearly 5 percent below levels last January.

The median age of for-sale housing inventory is lowest — 69 days or less — in Oakland, Calif.; Bakersfield, Calif.; Denver; Fresno, Calif.; Stockton-Lodi, Calif. and Phoexnis-Mesa, Ariz., according to January data from Realtor.com.

Meanwhile, as inventory is falling, the median list price has been on the rise: up nationally more than 3 percent year-over-year.

“Over the past year, an increasing number of markets have registered year-over-year increases in median list prices while fewer markets have experienced year-over-year list price declines,” a statement by Realtor.com notes.

Realtor Magazine reported recently that Detroit is among top housing markets  amidst the growing rebound. We think this is promising news for Michigan!

The list of housing markets showing signs of improvement in home prices and overall market conditions in February has grown to nearly 100 cities, according to the National Association of Home Builders/First American Improving Markets Index. The index reveals metro areas that have shown improvement in home prices, housing permits, and employment for at least six straight months. In the latest index, some markets that were particularly hard-hit during the housing market crash — such as Miami and Detroit — were added to this month’s list. Such cities are seeing a turnaround in their sluggish housing markets, possibly already hitting bottom. “Despite the many challenges that continue to drag on the housing recovery — including the tight lending environment for builders and buyers — improving conditions are slowly but surely spreading from one housing market to the next,” Bob Nielsen, NAHB chairman, said in a statement. Here are 11 of the 39 metro areas added to the list this month:

(For a complete list, please visit: www.nahb.org/imi. )

• Napa, Calif.
• Deltona, Fla.
• Miami, Fla.
• North Port, Fla.
• Tampa, Fla.
• Augusta, Ga.
• Shreveport, La.
• Springfield, Mass.
• Cumberland, Md.
• Lewiston, Maine
• Boston, Mass.
• Detroit, Mich.

The following is a market update prepared by our Keller Williams research department, which tracks and analyzes real estate trends across the nation! As you’ll see, there are many reasons for cautious optimism!

The housing market is recovering. As more home buyers are taking advantage of the improved affordability conditions. With mortgage rates hovering around recent record lows and home prices having generally stabilized, economists are expecting an upward trend to a healthy and sustainable level in 2011.

Encouraging signs are showing up across the economy. Retail sales recently hit their highest level since before the recession. Key measures of small and big businesses’ optimism marched back up to prerecession levels and new claims for jobless benefits are trending lower. Together they bode well for steady job creation and improved consumer confidence which is generally manifested in more spending.

As the economy improves, current stimulus efforts by the government and the Federal Reserve Board are expected to gradually wind down. Meanwhile, serious buyers stand to benefit from historically favorable buying conditions.

Mortgage Rates:

Mortgage rates are inching up but remain historically low. This trend continues to support home buying as it translates to significant savings for buyers. As overall economic recovery remains on track, rates are expected to rise to keep inflation in check.

Home Sales:

Existing home sales resumed on an upward trend since bottoming in July. Sales activity rose to a seasonally adjusted annual rate of 4.68 million in November. This was up 22% from July and 5.6% above the 4.43 million level in October, but remained 27.9% below the 6.49 million tax credit rush a year ago. As steady job creation is expected to continue, industry experts are hopeful for 2011.

Home Prices:

Home prices continued to stabilize. Median home prices edged up slightly to $170,600, 0.4% above year-ago levels. Distressed homes have accounted for a fairly stable market share, representing 33% of sales in November. This is on par with the 34% in October and 33% in November 2009. Historically favorable interest rates, coupled with stable home prices, continue to offer advantageous buying opportunities.

Inventory:

The number of homes on the market continued to decline. Total inventory fell to 3.71 million in November from 3.86 million in October. This reflects the increasing response from buyers to improved affordability conditions. As lending standards return to historical norms and consumers become more confident about their financial situation, more people will be able to buy their first home, move up, or invest.

Keep snow and ice at bay. If the buyer can’t get in easily, the house won’t sell. That means keeping walkways and driveways free of the frozen stuff. You want to make the home look well maintained.

Warm it up.  Think warm, cozy, and homey. Before a buyer comes through, adjust the thermostat to a warmer temperature to make it welcoming.   If you have a fireplace, turning it on right before the tour can create a more welcoming ambience.

Emphasize winter positives. Is your home on a bus route or some other vital service that means it’s plowed or deiced regularly in bad weather?  Be sure to mention that to the buyers.

Make it festive.   Even if you’re not actually going to be present, greet your buyers as if they were going to be guests at a party.   Set up the dinner table with the good china and silver.  Have a plate of cookies for your guests, some warm cider, or even chilled bottles of water.
Use the season to your advantage. Even with the holidays over, you can still use winter wreaths and dried arrangements around the door to spark interest. In the winter, with the leaves off the trees, you might also have a nice view that isn’t as apparent in the spring and summer months.

Ten Cities Where Listing Prices Soared Last Year

List prices are heating up in Florida, as recovery takes hold in the Sunshine State. Florida boasts the highest number of cities in the top 10 for largest increases in median list prices in the last year. In Miami alone, median list prices have jumped 32 percent in the last year.

Nationwide, median list prices have inched up 5.03 percent from December 2010 to December 2011, according to Realtor.com data.

The following cities are where median list prices have increased the most in the last year, based on December 2011 data of 146 metro areas from Realtor.com:

1. Miami, Fla.
Year-over-year increase: 32.50%
Median list price: $265,000

2. Naples, Fla.
Year-over-year increase: 21.67%
Median list price: $365,000

3. Fort Myers-Cape Coral, Fla.
Year-over-year increase: 21.47%
Median list price: $229,375

4. Punta Gorda, Fla.
Year-over-year increase: 19.42%
Median list price: $179,000

5. Boise City, Idaho
Year-over-year increase: 19.25%
Median list price: $154,900

6. West Palm Beach-Boca Raton, Fla.
Year-over-year increase: 18.38%
Median list price: $219,000

7. Sarasota-Bradenton, Fla.
Year-over-year increase: 17.62%
Median list price: $241,000

8. Daytona Beach, Fla.
Year-over-year increase: 16.06%
Median list price: $179,900

9. Phoenix-Mesa, Ariz.
Year-over-year increase: 13.79%
Median list price: $165,000

10. Grand Rapids-Muskegon-Holland, Mich.
Year-over-year increase: 13.32%
Median list price: $137,000

By Melissa Dittmann Tracey, REALTOR® Magazine Daily News