My main message to buyers these days in the ever-shifting real estate market:
There is opportunity to be had in the West Michigan real estate market.
Am I just making lemonade out of lemons? No. I truly believe now (March-April 2023) is the best time to be a buyer that we’ve had in the past 2 years, and possibly will be the best time all year and through 2024. (Do you hear that? It’s the best time ALL YEAR.)
“I’ve heard that prices are going to come down, so I’ll just wait until that happens and then I’ll buy.” 1) I’ve had clients that said that back in 2020 and look what happened… prices never came down. 2) Prices are expected to remain steady, possibly even rise by the end of 2023, and most definitely by 2024 (experts predict). Buy now and start building equity. 3) Prices, if they dip, are supposedly dropping in Q2 (aka basically now), meaning the best prices for buyers out there, is…. you guessed it… NOW.
Another objection I’m hearing today (and have heard the past 2 years ) is “I’ll wait until mortgage rates come down.” True, rates are expected to slowly fall this year (we might even end up in the mid 5’s by the end of the year.) However, if you have this thought about waiting, how many other buyers (aka your competition) have the exact same thought? Get in now to a home you love because there is less buyer competition out there currently, which might change in the next few months as interest rates dip. Whether you buy now at 6.5%+ or later at 6 or 5.5%, chances are you’ll refinance in a few years anyway, so act now while you have fewer competitors seeking your next dream home. (Who wants to compete when buying a home? How stressful!)
Buyers (in many price points and niches) have more negotiating power than we’ve seen in the past 2 years. What this means for you is👌not having to pay full price 👌 getting home inspections and other contingencies to protect your purchase, and 👌 being able to negotiate items for repair or money off the price based on that home inspection.
To me, the evidence (both anecdotal and data-driven) clearly shows that NOW is the best time to purchase real estate in West and Southwest Michigan compared to 2021, 2022, the rest of 2023, and 2024.
If you’d like to talk more about the market in which you’re considering a move to west Michigan (Holland, Saugatuck, Fennville, South Haven, St. Joseph, etc.) and your niche market (waterfront, luxury, city, country, etc.) please shoot me a text at
313-550-1794
💙Emily
Leave a Reply