Is the Real Estate Market Seasonal?
Throughout our time in Real Estate Sales, we have often been asked:
Is it a good time of year to sell my home?
Is the Real Estate Market Seasonal?
As with many questions related to the Real Estate Industry, the best answer is: “It depends.” However, the market is generally much less seasonal than public perception would make it out to be.
2024 Annual Market Trends
While I do not profess to be a housing economics expert, the slides and insights may help to provide a brief overview of the local housing market. These statistics are local to the Greater Grand Rapids Area, and they also reflect the broader West Michigan Market.
What Is My House Worth?
Many sellers list with the “Highest Bidder,” as if the Agent who asks for more can convince the marketplace to pay more, and then convince an appraiser to appraise the property higher!
Real Estate Tax Proration In Michigan
Imagine a real estate closing where there is a disagreement over who owes a $3500 property tax bill that will become due and payable two weeks after the closing. Who is responsible for the tax bill, the seller or the buyer? Should the seller be responsible for a property tax bill that isn’t due and payable until after closing? Should the buyer be responsible for the tax bill that’s due two weeks after closing? The issue should have been dealt with and resolved long before the closing; the issue should have been understood, agreed to, and resolved at the time the parties entered into the agreement of sale.