Tuesday, August 20, 2019 / by David Veenstra
Are you wondering whether you should sell and move or build?
Many Kalamazoo home buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up.
The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in 1990 to a pre-recession peak of 2.16 million in 2005). According to Apartment List,
“From 1990 to 2005, the number of single-family permits issued more than doubled, while the number of multi-family permits grew by 49 percent.”
When the housing market crashed, the number of new homes permitted decreased to its lowest level in 2009 (see below):Since then, supply and demand have been out of balance when it comes to new construction. According to the same report,
“Construction of single-family homes has recovered much more slowly — t ...
Tuesday, April 02, 2019 / by David Veenstra
The Kalamazoo Public Schools is the home of the wonderful Kalamazoo Promise. The Kalamazoo Promise provides free college tuition for all students who attend the Kalamazoo Public Schools. It started in 2006 and up till now (2019) over 6871 students have received the scholarship!
So as you look for houses in the Kalamazoo Public Schools district, how do you know what schools your kids would be going to? Here is a link to a street directory that gives you the schools by street.
CLICK HERE to see the Kalamazoo Promise Schools Street Directory
Here are some excerpts from a letter from the superintendent from March of 2019. It provides some examples of the benefits that the Promise has brought. We are SOO thankful for the amazing and generous community that is Kalamazoo!
"Kalamazoo Public Schools is a vibrant, growing district, with an increase of 2,500 students in the last 14 years and 1,300 students in the last 12 yea ...
Tuesday, April 02, 2019 / by David Veenstra
Here are five compelling reasons listing your home for sale this spring makes sense.
1. Demand Is Strong
The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.
Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-u ...
Tuesday, December 04, 2018 / by David Veenstra
Kalamazoo MI Real Estate - Every three years, the Federal ReserveSurvey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data covers responses from 2013-2016.
The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).
These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter. This was a nationwide study of averages and we believe this to be accurate for the Kalamazoo real estate market too.
There are many who see that statistic and point toward how broad the range of respondents are for the Federal Reserve survey. Their study includes all economic and social groups and also includes all age groups. The argument is that older respondents have a higher likelihood of being homeowners, while the ...
Tuesday, October 17, 2017 / by David Veenstra
Kalamazoo Real Estate - There could be some legitimate reasons for not buying a home but indecision should not ne one of them. Indecision is rooted in not having enough information to move forward to own a home or continue renting. The Veenstra Team is typically able to provide the right information and connect you to the right service providers to provide the needed information to allow our buyers and sellers to make the wisest real estate decisions.
If you keep renting, at the end of the year, you have had a place to live and a pile of receipts that helped the landlord pay for his house. Deciding to buy a home will give you a place to live that is yours and all the things that come with that.
When you consider principal reduction, appreciation and tax savings, your monthly cost of housing could be much less than the rent you’re paying. The principal reduction included in each payment is like a forced savings account that increases as your mortgag ...