Every appointment we go on to present a Strategic Price Analysis to a seller we always make sure to present them with the honest market value rather than the number they want to hear. We feel it's best to be completely honest from the beginning so expectations can be set but quite often the seller believes the homes is worth much more than others that are selling around it. Trulia recently came out with an interesting article explaining that the best way to increase your odds of a successful sale is to price your home at fair market value. To avoid the temptation to overprice in order to get an unreasonable price, here are the Seven Deadly Sins of Overpricing:

1.) Appraisal Problems- Even if you can find a buyer at this inflated price, the buyer is still more than likely being financed to pay for the sale of their home purchase. If your home won't appraise for the purchase price the sale will most likely fall.

2.) No Showings- Today's buyers are well educated about the real estate market. If your home is overpriced they won't bother looking at it, let alone make you an offer

3.) Branding Problems- When a new home hits the market, every agent quickly checks the property out to see if it's a good fit for their clients. If your home is branded as "overpriced", reigniting interest may be very difficult.

4.) Selling the competition- Overpricing helps your competition because you make their lower prices seem like bargains.

5.) Stagnation- The longer your home sits on the market, the more likely it is to become stigmatized. People may immediately wonder, "what is wrong with that house?"

6.) Tougher Negotiations- Buyers who do view your home may negotiate harder because they see it has been on the market for a very long time and because it is overpriced compared to the competition.

7.) Lost Opportunities- You will lose a percentage of buyers who are outside of your price point. These are buyers who are looking in the price range that the home will eventually sell for but don't see the home because the price is above their pre-set budget.

Most buyers look at 10-15 homes before buying one so setting a competitive price at the beginning will help it sell and sell FAST.

This week Grand Rapids held its second annual music event known as Rock the Rapids. For this music festival lasting Monday to Saturday, groups from every genre come from all over the country to entertain West Michigan. These bands included Lynyrd Skynyrd, Stone Temple Pilots, Wayland, Willie Nelson, Alice Cooper, Blake Shelton, Bombshel, Ludacris, Due Dilligence, T Pain, and many more! Rock the Rapids is designed to serve our community by providing affordable concert tickets for well-known artists while raising funds for local organizations such as John Ball Zoo. During Rock the Rapids, many other free activities were going on at Festival Village and also The Melting Pot set up at Rosa Parks Circle. One thing Grand Rapids knows how to do and can do it well is bring people together and this event once again proved it!

M-Live's Relocate America Top 100 Places to Live in 2011 is in its 14th year of identifying the best places to live in America.  The research and editorial team spends months researching which communities are well positioned for economic recovery, already experiencing strong economic recovery or have proven over all economic stability.  Factors such as employment, education, community, leadership and overall quality of life are all used when determining who will make the Top 100.  I am so excited that Grand Rapids was rated number 2 for 2011.  What an honor to us who already live in the Grand Rapids area as this is more proof of our strength in economics which includes Housing.

Read M-Lives article here for the full story: http://www.mlive.com/news/grand-rapids/index.ssf/2011/08/grand_rapids_ranks_no_2_on_rel.html

Grand Haven, MI is our own West Michigan lakeshore with clean beaches, a boardwalk with shops and ice cream, and a quaint lighthouse. From July 27 to August 7 Grand Haven is taken over by carnival rides, men and women in uniform, a beach covered by beach towels umbrellas and coolers, and boats covering the channel for its annual Coast Guard Festival. Every day of Coast Guard Festival is packed with activities, events, and attractions for all ages. Many activities are free, and you will find plenty of fun and choices from Kid's Day to the Street Dance and Cruise-In Car Show, to Carnival Rides, picnics, parades, and ship tours.  Honoring the men and women that served in the Coast Guard, the festival hosts many events honoring Coast Guard retirees, Memorials, and allows many to share their stories while in service. In the evening, many enjoy waterfront entertainment on their walk down the pier to not only music groups such as Motor City Glee but also competitive ski teams like Grand City Skiers as they form three-tier pyramids through the busy channel. Whether it’s the softball tournaments, carnival rides, music performances, laying on the beach, or parades there is something to do for people of all ages. Visit http://www.coastguardfest.org/ for more information!

 

 

San Chez has the most tempting tapas in town. Famous for their food and excellent service, take a night out and head downtown Grand Rapids to experience the unique atmosphere of this three-tiered establishment. San Chez has a unique blend of Mediterranean cuisine in the form of tapas, a type of restaurant in which the whole meal is a combination of bite sized snacks intended to make less concentration on food and to encourage conversation and sharing of dishes between patrons. Not only does San Chez provide an exceptional dining experience but it also provides cooking classes, wine and beer tasting, caters events, and takes reservations ahead of time for parties.

San Chez hours are on Mon – Thursday from 11:00 am – 10 pm, Friday 11:00 am – 11:00 pm, Saturday Noon – 11:00 pm, and Sunday Noon – 10 pm. Visit the website for more information --> http://www.sanchezbistro.com/default.htm.