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Prices For Grand Haven Homes Continue To Rise While Sellers Rein In Summer Price Expectations
Grand Haven area REALTOR® John Faber, broker/owner of Encompass Realtors, published comments noting that home sale prices in Grand Haven continue to rise over the past year.
By: Encompass Realtors
He says this is a normal fluctuation between supply and demand as the invisible hand of the market works to find the fairest price for Grand Haven real estate (http://www.hollandhomesforsalemi.com/)
"There is definitely an inventory shortage in virtually all markets nationwide, and the Grand Haven area is no different," he says. "But what happens is that new sellers hear that and come into the market with price expectations that are mismatched with the pool of available buyers."
Faber says that’s when the give and take happens in the market between buyers and sellers.
"Listing prices inevitably rise faster than actual closing sale prices. For instance, the average listing price recently went down last week to approximately $288,000, but the median sale price for Grand Haven homes for sale just went up to over $118,500, a rise of about 19% in a year," Faber says.
"This reflects tempered expectations sellers are experiencing as they approach the mid-point of summer without a sale, as well as a conservative lending market that doesn't trust high valuations from appraisers,"
Faber says that conservative appraisers are sometimes responsible for introducing the hard realities of the market to sellers who are asking too much.
"That's why pricing a home accurately is so important when selling a home in Grand Haven," he adds. "A good agent will know when to be aggressive on price, and when it's best to pull back and take what the market has to offer."
About Encompass Realtors
Encompass REALTORS® is a Holland real estate company that employs only the best real estate agents with superior customer service skills. Headed by John Faber and Thun Champassak, both long time West Michigan residents with strong family ties in the area, they take their clients' needs to heart when helping them buy or sell a home.
The company's approach is heavily focused on customer service and great communication. While other Holland real estate companies focus on size and numbers, Encompass focuses on earning the respect of its clients and community. The strong work ethic of its agents and sound business practices guarantee that all clients will be strongly represented.
The company is proud to include the following agents on its roster: April Kiekintveld, Rhonda Faber, John Faber, Kim Douma, Thun Champassak, Marc Bakker, and Melissa Steenwyk.
John D. Faber, Broker
60 E Lakewood Blvd.
Holland MI, 49424