Did you know that foreclosures in the United States are now lower than they have been since the Great Recession? In other words, right now, there are fewer foreclosures than there have been for the last eight years, meaning that homeowners can breathe a sigh of relief regarding the ongoing impact of staggeringly high foreclosure rates in some neighborhoods and states. This is a sign that the major real estate markets in this country are more stable than they have been for years.

Some homeowners, who were savvy buyers that paid a reasonable price for their home, were never in any risk of losing their home, provided there were no catastrophes in the family (such as losing a wage earner, a divorce, etc). However, despite their own best planning, many of those homeowners saw the value of their biggest investment begin to decline, perhaps even leaving them upside down on their mortgage (owing more than the home could sell for). If one person lost a home in a neighborhood, it could, even in West Michigan, leave a vacant shell that had once been a family home. These buildings fell into disrepair, and neighbors looked on as something out of their control took its toll on their financial stability.

Thankfully, after years of foreboding levels of foreclosures and decreasing home values, most major U.S. real estate markets have re-stabilized and are now gaining in value again. This is certainly true of West Michigan; neighborhoods are seeing those blighted, abandoned homes purchased and renovated or taken down to make way for something new.

Currently, the national foreclosure rate is now 1.2%, back to what it was in January 2008, before the recession started. In Michigan, that rate is actually only 0.5%. Certainly, this in part because so many people in this state have already been foreclosed upon and are no longer homeowners, but it is also indicate of the slowly strengthening local economy and real estate markets.

In West Michigan, this is just large-scale reinforcement of what local professionals have been noting for many months: that the market is stronger than it has been in some time. Right now, our market is sitting at an average foreclosure rate less than half the rate of the national average. Home values in West Michigan, compared to national averages, remain reasonable, meaning buyers can get more for their money in West Michigan than in many other parts of the country.

With the market stronger and prices more reasonable, many people who had been holding off on selling their well-maintained, beloved homes during the recession are now putting them up for sale. This means there are still plenty of quality homes, in a neighborhood that suits you, available for sale. However, with the market as hot as it is, with low levels of real estate inventory and homes often selling within their first week on the market, educated, experienced realtor representation can make all the difference for buyers looking for a home or a well-placed investment property. For sellers, having a skilled realtor helping to market the home can maximize the return on the sale. Whether you're buying or selling a Grand Rapids or West Michigan home, call Pyxis Realty today to get the kind of help you need!

If there is any sure sign that the real estate market in the West Michigan area is hot, particularly the Grand Rapids real estate market, it's the increasing level of interest from national-level investors and commercial real estate developers. The construction of the Tanger Outlet south of town, as well as the announcement of several major housing and commercial developments in the downtown and airport area are likely only the beginning of massive outside investment in our community, which bodes well for locals as far as new employment opportunities and real estate values.

Several weeks ago, the Illinois-based company Franklin Partners LLC sold two of its large, commercial holdings to a New York-based real estate investment firm, Ladder Capital Securities LLC and independent investor Richard Bennett, who is the principal agent at Sagic Capital LLC. Both the buyers and the sellers for these transactions were represented by the local commercial real estate firm Colliers International West Michigan. Those holdings, both in the southeast suburbs of the Greater Grand rapids area, will continue to be managed by staff at Franklin Partners LLC.

The New York investors, in other words, will own the buildings and hold the leases on the properties, while Franklin Partners, LLC, will manage the facilities and handle basic operations and upkeep. This means, in layman's terms, that West Michigan commercial and industrial properties are beginning to look like beneficial investments to businesses involved in real estate investing on a national scale, which bodes well for the Greater Grand Rapids and West Michigan real estate markets. If the local economy is strong enough to entice outside investors on this scale, it is likely going to continue to do so, bringing more money, more jobs, and more diverse businesses to the area.

The first building, located at 4147 Eastern in Wyoming, is currently home to a Booking.com office facility. 4147 Eastern has a total of 97,167-square-foot in the office building. Of that space, roughly 75% of the space is occupied by Priceline Group Inc., which is the parent company of the well-known discount travel website Booking.com. The remainder of the building is rented and occupied by AMI Entertainment Network LLC, a jukebox company. The second property, a 160,000 square-foot industrial building located at 5010 52nd St., is currently completely rented out by the local Lacks Corporation.

Colliers International West Michigan was the firm that initially sold the unoccupied buildings to Franklin Partners, LLC. According to an interview with MiBiz, Don Shoemaker, the principal at Franklin Partners, LLC, has indicated that he intends to continue investing in West Michigan and will retain several office properties in the downtown area, in addition to continuing to manage the two buildings just sold.

While the experienced, professional staff at Pyxis Realty does not specialize in commercial and industrial property sales, our knowledgeable agents do know how to maximize these kinds of events to the benefit of their clients, by applying years of experience to each property considered in a purchase and each offer received on a sale. If you're ready to sell your home or buy a home, contact Pyxis Realty today and ensure you're receiving the best advice and getting the best price in your transaction.

One of the things that most realtors and those with experience in buying or selling real estate will tell first-time homeowners with families or one planned for the future to consider is the school district that the family's kids will be sent to. In today's day and age, with charter schools all over, private options, and online homeschooling programs that claim to be competitive with most college-prep in person high schools, how important is the location and school district of your future home?

It really depends. Honestly, for those without kids (due to lifestyle, age, etc) and those with no plans to ever have them, school districts may be incidental to their primary decision making process. However, even those without kids can be affected by the prestige and capabilities of the local school district. Its size and the number of students being educated there, as well as the number of staff and the size of facilities will have an impact on both the local real estate tax rate and the resale value of the home down the line, which need to be carefully weighed against one another at the time of purchase.

A spacious home in a quiet neighborhood attached to a mediocre school district may seem like a great value, compared with the prices and higher tax rates in areas with well-respected public schools, but that value may not persevere through to the point in time when the property is ready to be sold. Many buyers are conscious of school districts, out of concern for the well-being of their children or future children. If you home is well-maintained, even the best in the neighborhood, you may still have a hard time commanding the kind of price your home should command because of concerns about schooling.

On the other side of things, in upscale neighborhoods with well-funded and staffed public schools, the tax rate and overall price of the homes will likely reflect that difference. If a homeowner does not intend to make use of the public education infrastructure, they may grow weary of paying higher tax rates for a facility they will never utilize. However, they will be more likely to recoup that difference when the time comes to sell the home, as long as the school district continues to perform well.

While a small number of students may be able to attend some of the better rated public schools due to the school of choice program, most students are bound to attend the school that their home is districted for, meaning that very few out-of-district students come into school districts such as East Grand Rapids. In the end, those with children are best served by picking homes close to the schools they would like to attend, while those without children can use that concept as a guide to the stability of local property values and their biggest investment, their primary home.

If you are having trouble balancing the importance of a good school district with the right price range for your purchase, contact a member of the staff at Pyxis Realty. They will use their expertise and experience to ensure you find a home that fits all of your needs.

All throughout this weekend and next week, Grand Rapid is celebrating Restaurant Week. The celebration actually kicked off on Wednesday, and will run for a total of twelve foodie-satiating days! Those who live in the Greater Grand Rapids area should make a point of participating; a big part of the inspiration for the event is to bring new and different restaurants into the view of area patrons.

There are a total of sixty-seven restaurants participating in this event, all of which would like you to come visit them and “Taste the City.” A menu of all the participating restaurants that will narrow the list to your preferences is available online here. Of those sixty-seven restaurants, fourty-three will be offering three-course locally-inspired menus for $28 per person. Twenty of the remaining restaurants will be offering a three-course menu for two people for the same price of $28.

The restaurants offering $28 single person menus include local favorites such as One Trick Pony, Gilly’s at the BOB, Cygnus 27, Grand Rapids Brewing Company, The Green Well, and the Bandit Queen. The $28 for two line-up includes Stella's Lounge, The Pearl Street Grill, Flatlanders, and Lindo Mexico. Clearly, there is something for everyone, from fancy fish and fine dining to casual Tex-Mex and Italian places.

In addition to the locally-inspired three-course menus on offer at participating restaurants, there was also the Grand Cocktail 2015 challenge calling on local bartenders at twenty-nine of the Restaurant Week restaurants. Mixologists at these various sites submitted recipes for cocktails in two categories: Most Creative Woodford Reserve Julep and Most Creative Herradura Tequila Summer Cocktail. Customers voted online, and the winners were announced on August 5^th at Gravity Taphouse Grille. The first place winner in the Julep category was Tara VanderMolen from Licari's Italian Pizza Kitchen for a concoction entitled “Grand Smash.” The winner for the tequila category was Chris Maxim from Bar Davani, with a drink that includes watermelon and cucumber from a local farmer's market named “A Midsummer's Night Shrub.”

The best thing about Restaurant Week, other than the way it provides area residents with an excuse to treat themselves to sumptuous night on the town, is the fact that $1 from every Restaurant Week meal sold this year will be donated to a student scholarship fund for culinary students at the nationally-recognized Secchia Institute for Culinary Education at Grand Rapids Community College. This has been a tradition since the 2010 Restaurant Week, and so far, the restaurants that participate in Restaurant Week have donated close to $100,000 to Student Scholarship Fund at the GRCC Seccia Institute for Culinary Education.

Restaurant Week is just one of many excellent examples of the thriving culture in West Michigan. It's no wonder the West Michigan real estate market is so hot right now; it's a wonderful place to live with an increasing number of festivals and events every year! Here at Pyxis Realty, we love to see our city and its various communitys thrive. Creative, fun, socially engaging events like Restaurant Week are what make the Greater Grand Rapids area great. Get out and try one of more of the participating restaurants. Not only will you get to enjoy a great night out, but you'll have the satisfaction of knowing that you're also helping make our city a better place.

There's little question that the Grand Rapids real estate market (and to a lesser extent, much of the West Michigan real estate market) is very hot right now. As many professionals have noted, this summer and upcoming fall are a great time to list your home, especially if you've been waiting for home values to strengthen after the Great Recession. If you're listing your home and trying to maximize your take-away profit from the transaction, it may be tempting to try listing the home as “For Sale by Owner” instead of using a realtor, in order to save the relatively small amount of the sale price that will be paid to the realtor. Here are three very good reasons to reconsider that stance.

3. A realtor can value and price your home appropriately. Don't depend on automated online calculators or, heaven forbid, the tax assessment as a means by which to set the price of your home. Neither of these rough estimates will take into consideration one of the most important factors of a home's value: the appearance and upkeep of the interior of the residence. Have you installed premium countertops? Re-done the master bath to include a high efficiency whirlpool tub? Turned the finished basement into a home theater, complete with built-in popcorn machine? All kinds of upgrades and investments like these can substantially affect the attractiveness of your home to buyers, thus allowing you to command a higher price than the average home in your neighborhood without any amenities. Don't sell yourself, or your home value, short.

2. A realtor knows how to maximize curb appeal and buyer attraction to a property. This may seem like a minor issue, but being able to properly showcase the best features of your home isn't always easy. Some may poo-poo the need to stage homes for showings when the market is moving quickly, but proper staging of a home for sale can make a large difference as far as the number and amount of offers made on a home for sale.

1. A realtor will handle all the stressful paperwork so you don't have to. No worrying about retracted offers, legal forms, or similar headaches. A realtor is a professional expert, well versed in handling offers on a property and in executing the necessary paperwork for a seamless, timely closing that leaves all parties satisfied with the transaction.

Unless you have extensive experience in real estate (and recent experience, at that; the market has changed substantially in just the last five years), chances are you may not be asking the best price for your home, may undersell its best features, or may end up drowning in confusing, legalese-filled paperwork. The dedicated, professional staff at Pyxis Realty is always here to help you list your home, maximize its value, and showcase all it can offer to potential buys, thus ensuring you have a headache-free sale and plenty of time to spend looking for your new home instead of worrying about your old one. If you're thinking of listing your home or investment property for sale in the near future, make sure to call or email Pyxis Realty before you list!

There's something exciting brewing southeast of Grand Rapids proper: a 700,000 square foot development that will be comprised of three buildings located in close proximity to the Grand Rapids airport, also known as the Gerald R. Ford International Airport. Robert Grooters Development Company has publicly announced its intentions to create the development on Kraft and 52^nd Street, aptly named “Area 52” in a shout-out to the famous “Area 51” and the 52^nd Street location. They are hoping to begin construction on this massive project this fall, though a projected completion date for the full facility has not been announced at this time.

The planned buildings at Area 52 will incorporate an aviation theme throughout. According to information provided by the president of Robert Grooters Development Company, Robert Grooters, the exterior of the buildings themselves will be covered with art, depicting various stages in aviation history, from the Wright Brothers' fist airplane to modern jet planes. Robert Grooters Development Company holds 50 acres near the airport, which will very likely soon host a number of businesses and commercial spaces for rent.

This decision to invest in such an expansive facility makes it clear that even the most savvy of investors are able to see the potential in the West Michigan market right now. In addition to a very fast-moving, hot residential real estate market, commercial and industrial properties are renting and selling at a much faster pace than they were several years ago, even as recently as last spring. The need for new, cutting-edge facilities within a short commute to the airport and the many hotels and extended-stay facilities on eastern 28^th Street and the area surrounding the airport has not gone unnoticed.

Robert Grooters Development Company, like many in the real estate and development industries, was treading water in the West Michigan market for some time. Prior to the recession, they maintained and managed roughly 500 acres of properties in the area; they are only just now beginning to expand and develop the much smaller local holdings they currently manage. Robert Grooters Development Company is seeking, through economy of scale, to keep building and development costs for their facilities as low as is feasible; they currently shoot for a target of $3 triple net in costs to commercial renters and tenants. This allows their large industrial spaces to be competitive in the current market, often coming in at much lower rents than other facilities, and allows their tenants room to grow as their market expands along with the local economy.

There has been no specific word on what, if any, tenants will occupy the Area 52 space, but it stands to reason that the development's available spaces will be in relatively high demand. This, in turn, should have a positive impact on the communities near the airport, including Grand Rapids and Kentwood, by providing new jobs and infrastructure growth and development. For homeowners in the region, the construction of Area 52 may represent a brighter future, with new job opportunities, new businesses to patronize, and hopefully, an increase in property values, both commercial and residential.

There's plenty to do this weekend in the Greater Grand Rapids area, so if you don't have plans for anything exciting yet, maybe this weekend is the right time for you to check out the freshness on offer at local west Michigan farmers markets. Nothing says summer like wandering through a packed farmers market, looking at all the brightly colored, nutritious produce, brilliant cut flowers, lush potted plants, and sundry tempting pre-made food products, such as home made doughnut and food truck offerings. Tomatoes are starting to ripen, and baskets overflowing with peppers, zucchini, and summer squash will be calling out to shoppers who prefer to walk through open-air outdoor markets instead of strolling in an air-conditioned supermarket.

There are plenty of options in the area, with some having quite a lot on offer. The Downtown market in Grand Rapids is a fast-growing weekend hotspot, with a lovely walking area, outdoor fountain, and expansive builing, complete with a bakery, a butcher, a fish monger, and a sushi bar. After checking out the myriad interesting shops in the downstairs portion of the building, visitors can head upstairs to view the greenhouse (through glass) and visit the offices (and facilities).

The food trucks generally have something for any taste, and line up expectantly at the end of the long row of food venders. Given the way traffic flows through the space, it's clear as many people come for the proximity of the excellent food trucks, but there is plenty more on offer, from goat cheese to fresh-baked bread. If you're going to be in town this weekend, you might as well have a brief jaunt to the farmers market, if only to pick up some fresh veggies for your weekend meals.

If you're looking for a farmer's market adventure that's a little more afield than the centrally located downtown market, this is your lucky weekend! This Saturday is also the third annual Salad Bowl Bash in Hudsonville! From 2:00 pm to 10:00 pm on August 8^th, this free family fun event takes over the Farmer's Co-op at 3302 Prospect Street, Hudsonville, MI 49426. There are a wide range of activities planned, including an eating contest, the Great Garden Games, remote control car races, vegetable bingo, a vegetable dance party, kids activities, the farmers market itself, and of course, plenty of amazing, local food on display!

For children ages 5 to 19, there will be a singing competition with a total of $750 in prizes. For the less musically inclined, the Great Garden Games are accessible for kids of all ages, and includes an obstacle course that must be completed without dropping a cherry tomato, a ring tossing event that involves celery as the target, and radish tossing as well. For those with less of a competitive streak, in the evening, there will be a fireworks display as well.

Proximity to one of the many local farmers markets in West Michigan can definitely be a great perk when buying a house. If you're interested in relocating and have special requests like being within walking distance of a market, working with a realtor is one way to make that dream a reality. Get in touch with the professionals at Pyxis Realty and see what difference working with a seasoned professional makes!

Grand Rapids has been making a lot of lists and countdowns in national publications over the last few years. Just last week, the city of Grand Rapids was featured in a nationally distributed article by The Huffington Post for the character and preservation of historical buildings in the downtown area.

The article discusses several specific buildings from the downtown area, including the Ledyard building, one of the rare, triangular buildings modeled after a famous edifice in New York City. People refer to it as “flatiron” shape. The article discusses how actively the city of Grand Rapids has worked to maintain this piece of architectural history. The author notes that there are different facade colors, different cornices, different window shapes and lintels.

By adding a glass-encased atrium on a major Ottawa street entrance, several buildings seem to melt into one, which covers a good portion of this block of space in the downtown area and houses a wide variety of offices, businesses, and living space. All told, seven buildings were remodeled and refinished to create the area now known as the Ledyard Block. The Ledyard Building was added to the National Register of Historic Places in 1983, ensuring that it won't be torn down without a protracted legal and social process.

Strolling through downtown Grand Rapids and the walkable adjoining neighborhoods is a visually engaging exercise. Not only are there plenty of hip, modern businesses, from clothing and jewelry shops to restaurants, bars, and entertainment venues, there is a healthy dose of original construction, showcasing the history and complexity of this city's urban center. While the Ledyard building's preservation certainly deserves notice, there are many other well-preserved tributes to the city's past as well.

In few places is that attempt at preservation as obvious as the remodeling of the historic Rowe building, which used to serve as a retirement home for many in the greater Grand Rapids area. These days, it is under construction, awaiting completion, whereupon it will become upscale condo units and apartments, right across the street from the MSU medical research facility, which will be built where the old Grand Rapids Press headquarters once stood.

While the article doesn't mention it, the brick-paved section of Wealthy Street on the southeast side, through Eastown, is another beautiful, well-maintained callback to a previous era. On certain days, a cable car offers rides from site to site in the downtown area, including stops at the farmers market and several other popular locations for weekend dalliances.

Truly, Grand Rapids has been fortunate to be managed by city planners and developers who understood, even in the industrial 1970s and 1980s, that maintenance of historical buildings and a city's history is important to the overall character of an area. Residents in the greater Grand Rapids area enjoy a much more beautiful city-scape than other major urban centers as a result of that foresight.

While Michigan, overall, has suffered economically over the last two decades, the Grand Rapids area and West Michigan have maintained a better economy than many other well-populated areas in the state, making it an excellent place to call home or invest in properties. If you are interested in purchasing a home or investment properties in the West Michigan area, get in touch with the professional staff at Pyxis Realty today!

According to an article published on the WZZM 13 website, Grand Rapids' housing market is the hottest it has ever been since such information was recorded and analyzed. There are currently fewer available properties in the greater Grand Rapids area on the open real estate market than at any time previously researched.

Housing inventory is low, which means right now it is a sellers' market. If you have been interested in possibly selling your home and upgrading or moving into a neighborhood or house more befitting your current lifestyle, this is a great moment in local real estate history to maximize the value of your current residence.

According to statistics provided to WZZM 13 by the Grand Rapids Area Realtors organization, the average sale price of a home in the Grand Rapids area so far this year is $176,020, which is up a staggering 9.6% when compared to last year's home prices. Nationally, the average home price is currently $236,400, which WZZM 13 reports is above the peak price set in June 2006. That price represents a national increase in real estate sale prices of 6.5%, clearly indicating that Grand Rapids' market is hot and continues to offer more value and buying powerful for homes than other urban markets. That means that selling your home now, especially if you've been putting it off to wait for prices in the area to rebound, may be a wise decision.

Of course, selling your home in a hot real estate market isn't as simple as slapping a sign in the yard. In order to maximize the return on one of the most important investments that you make with your money, you should consult with a well-educated and experienced realtor, who can ensure that you are maximizing the potential return on your real estate transaction. One of the biggest downfalls of self-represented buyers can be massively overly estimating the value of a property without checking it against other comparable sales in the nearby community. If you're considering listing your property, check out our free, fast home value estimator tool, and talk to one of our talented staff members today about getting the most out of listing your property.

Those hoping to buy should recognize that now is a time when you assertive, aggressive representation by a professional realtor, such as the excellent staff at Pyxis Realty. Many houses are selling within one to two weeks of being on the open market, with many properties receiving multiple offers, many times above the asking prices of the properties (which are up from where they would have been at this time last year). Without a seasoned professional representing you and helping you make a fast, competitive offer on a property, there's a good chance your dream home could slip right through your fingers in a market like this!

Pyxis Realty prides itself on attention to detail, peerless client services, and representation in the real estate market that you can trust and count on, no matter what your need or price range. Whether you're selling to take advantage of the price increases or hoping to buy despite the quick pace of sales currently, the staff at Pyxis Realty has the professional experience to ensure it goes well for you!

There are lots of excellent opportunities for family fun in West Michigan this weekend. First and foremost, today (Friday, July 31^st) marks the 18^th birthday for a special part of the downtown Grand Rapids culture: the Children’s Museum. The museum is celebrating by throwing a massive birthday party for itself, and everyone is invited.

Running from 10 am to 2 pm today, this special event features a massive celebration, including a street fair on the temporarily closed Sheldon Avenue. The Grand Rapids Children’s Museum Birthday Street Party will be animal-themed. That means this awesome, free fun time for kids and families will include the chance to make your own animal-themed masks, as well as bubble snakes, fish-themed bean bag toss games, snow cones, free temporary animal tattoos, and a bug matching game, as well as many more opportunities for fun.

This is especially wonderful for members of the community who can't afford to pay the admission to the museum itself. Much of what will be available at The Grand Rapids Children’s Museum Birthday Street Party will be parts of existing interior exhibits in the museum. It should be noted, however, that admission to the museum today is not free, and those who wish to go inside the building will be expected to pay the normal admission price.

The Grand Rapids Children’s Museum has been in operation since July 31^st, 1997, and today is officially the start of the eighteenth year of operation for this educational, hands-on institution. If you're looking for something to do with the kids today, this is a great chance to enjoy downtown and some free fun at the same time.

If The Grand Rapids Children’s Museum Birthday Street Party doesn't sound interesting, or if there are no children that need to be entertained in your household (or the children are older, for that matter), then make plans to enjoy the Coast Guard Festival, which has been running since July 24^th and will be finishing up for this year over the weekend, with August 2^nd being the last day of the festival.

The Coast Guard Festival is an annual event, hosted in Grand Haven, Michigan, and boasting a massive turn-out of veterans and site-seers every year. The estimated attendance is roughly 350,000 people annually, and this year promises to be a fun and exciting event for all interested in attending. There's plenty to do and see at the Grand Haven Coast Guard Festival, including free tours of various ships in Escanaba Park, a carnival with rides and traditional carnival foods on Washington Ave. from Harbor Dr. to 3rd St. (with $20 ride-all-you-want wristbands available for the die hard adrenaline junkies and those with enthusiastic children), a craft fair tomorrow in Central Park, and the Meijer Grand Parade tomorrow, beginning at 11:45 am. Tomorrow will also feature a Tina Turner impersonator performing at 8 pm and a fireworks extravaganza beginning when dark falls.

As always, the West Michigan area has plenty to offer the busy and socially-minded residents of the region. There are a lot of fun things going on in Grand Rapids and Grand Haven this weekend, so get out and explore.