Last week, much of the Grand Rapids real estate community was discussing a surprise sale; specifically, the sale of two prime downtown properties by the Chicago-base real estate development firm Franklin Partners. Franklin Partners have invested substantially in the Grand Rapids real estate market and West Michigan real estate market over the last few years, and some were worried that these sales indicated the influential firm was considering pulling out of the West Michigan markets.

Thankfully, nothing could be farther from the truth.

In 2012, Franklin Partners purchased the 12 story office building in downtown Grand Rapids located at 99 Monroe Avenue. Coming in at a total of over 200,000 square feet, the massive building is considered by many an important cornerstone of rental office space in the downtown area. In 2012, when Franklin Partners purchased the building, it was sitting at about fifty percent occupancy, meaning at least half of the units were sitting on the market, unleased and unoccupied. Just before the sale of the building, Franklin Partners reported that they building was now at ninety-eight percent occupancy, in no small part due to improvements and renovations made by Franklin Partners, which included a renovated lobby, exterior signage, a restaurant inside the building, and a new health club.

When Franklin Partners purchased the building, they paid $11.8 million for it, and then invested substantially in it. Originally, the building cost $16.4 million to construct, and sold for $23.2 million as recently as 2004.  While the details of the recent sale, to a brand new local real estate firm called Vision Real Estate Investment, which also recently acquired the established firm Prim Property Management, have not been disclosed publicly, Vision Real Estate Investment must have made quite an offer, as the building wasn't even on the market at the time of the sale. Vision also purchased the property at 25 Ottawa Avenue, which wasn't on the market either.

Thankfully, the sale wasn't indicative of Franklin Partners pulling out of West Michigan but rather, simply being made an offer they couldn't refuse. In the days following the recent sales of the two downtown office buildings, Franklin Partners has moved immediately to invest in new properties in the downtown area, including unveiling plans for the Keeler Building, which is located at 56 North Division Avenue and was purchased in January. The seven story building, which is located by the intersection of Division and Fountain street, has stood mostly vacant for the better part of two decades, in desperate need of investment and an overhaul. Now, it appears it will be getting one soon, with completely new plumbing, electricity, mechanical systems, and an elevator. The outside will be getting a new facade, as well as streetscaping and improved sidewalks. There will also be a two-story lobby with retail spaces.

As always, when considering a real estate transaction, it's best to go with a team and a brokerage with up-to-date information about neighborhoods and upcoming investments in the local communities they serve. Pyxis Realy strives to offer its clients the best, most accurate advice along with white-glove service, making them one of the best options when looking for a Grand Rapids realtor or a West Michigan Realtor. Whether you're planning on buying or selling, consider giving them a call today!

Many people in West Michigan have begun to notice the uptick in real estate prices and values across the region. Rents in many places have been slowly increasing to make the best in the increase in perceived property values, and renters may be looking more closely at the possibility of buying a home in the West Michigan real estate market or the Grand Rapids real estate market.

If your lease is up or is going to be in the first half of 2016, you really owe it to yourself and your financial future to consider making the switch from renter to owner. After all, $900 a month can get you a lot more home for the price when considering monthly mortgage payments versus what that same amount can get you on the local rental market. In some communities, it can be the difference between living in a trailer in a crowded community or having privacy, as well as a yard for your kids or animals to enjoy during the beautiful Michigan summer.

If you've been at the same job or have had a steady flow of income as a self-employed worker for the last year to two years, chances are good that you can qualify for a mortgage. If you plan on applying in the upcoming months, make sure to check your credit score in the near future to make sure there aren't any surprise delinquent accounts or inaccurate late payment marks on your credit report. There are plenty of reputable companies that can help potential homeowners check and clear up their credit before applying for a mortgage. Make a point of checking them out if you're looking to buy soon.

Several local banks offer low and no down payment mortgage programs, though only those with the best credit will be able to qualify for these loans. In general, a down payment of at least 5%, but up to 20%, will be needed to obtain financing. Depending on your income and the intended value of the potential homes you are considering, that may mean you'll need to set your tax return funds aside or tighten the belt when it comes to the household budget over the next few months. If you haven't been saving and don't fall in the very good or excellent credit categories, a private loan from family members may be a possibility, depending on your familial situation. What's most important is knowing up front what you have to bring to the table and being realistic about what you'll be able to invest in a home, both in terms of time and finances.

If you are thinking about making the life-changing switch from renter to home owner, give the experienced, helpful team at Pyxis Realty a call today! You'll be hard pressed to find a West Michigan realtor with more dedication to excellent service, and no matter what your price range, the Pyxis Realty team treats all of its clients with respect and honest consideration. Give us a call today to see how easy becoming a home owner can be!  

Have you ever looked at the rental listings on the West Michigan real estate market and thought to yourself that you should be a landlord? Do you enjoy putting in some “sweat equity” when you purchase a home? Do you like the idea of being your own boss or having a secondary source of income to supplement your main income stream? If you answered yes to any of these questions, investing in the Grand Rapids real estate market may be a great option for you!

As home values have been increasing over the last few months, rental prices in the area have also been increasing steadily. Many major apartment complexes are reporting vacancy rates in the single digits, meaning that even as demand for housing is on the rise, the number of available units on the rental market is dwindling. For those who are willing to upgrade older homes, which can vary from replacing windows to fixing or updating furnaces or even updating electrical wiring, poorly-cared for homes can be a great way to take moderately-sized nest egg and turn it into a potential lifelong income stream.

From single family homes and duplexes to multi-unit houses and house to apartment conversions, there are as many options for potential landlords as there are for potential homeowners looking to own their own homes. Some people even purchase and rent out condominium units in some of the hottest buildings in downtown Grand Rapids, passing on all fees to the renter and paying off the mortgage on the investment property each month. Whatever kind of rental situation most appeals to you, whether it is renting rooms to college students or whole houses to established families, there are certainly properties on the West Michigan market sure to fit the bill.

Of course, working as a landlord can be a 24/7 job, requiring on-call assistance in the case of emergencies, like a broken pipe or a non-working furnace, but that can also be outsourced to an experienced property manager if the owner chooses not to directly work with their tenants or in the units doing repairs. The team at Pyxis Realty is here to help with everything from selection the best potential rental units for your personal preferences to obtaining inspections and even assisting you in securing trustworthy property management.

If you're ready to make the leap into rental units and investment properties, be sure to give the dedicated, experienced team at Pyxis Realty a call today! The educated professionals on the Pyxis Realty team will do everything in their power to help you realize your ambitions and find the perfect rental property for your particular situation. Give us a call today or send an email to get the ball rolling. Right now is the best time to get started on a renovation project, just before the spring and summer rental rush! Whether you're hoping to own and rent a single, multi-unit building or to slowly become a real estate tycoon, the team at Pyxis Realty is happy to help make your dreams reality!

The staff at Pyxis Realty works hard all year round, but there is no question that the spring is one of the busiest times of the year for our realtors. After a long winter of being cooped up indoors, people are finally ready to get out and look at homes to buy. Apart from the fantastic market in West Michigan right now, there are some very compelling seasonal reasons to list your home soon! 

3. No summer heat or winter snow to contend with. The winters in West Michigan can be pretty harsh, and many potential home buyers will delay a move until the snow has finally melted away, leaving clean sidewalks and safer roads for the big day. Likewise, in the oppressive heat of summer, many people decide to put off home buying and moving until the first cool winds of autumn blow. By selling in spring, your home stands a chance of being viewed by more people, who are likely antsy after a long winter indoors and ready to make positive changes for the year of 2016. That change could be buying your home and moving into it!

    

2. Flowers and fresh growth make people happier and a place prettier. A lot of the homebuying and home selling process involves human psychology, as most major human decisions do. The spring is a time when there is very little resistance to change in the average person. Indeed, after months of winter's drab gray and white landscape, the fresh bursts of green leaves and grasses and brilliant, pastel colored flowers create a generally positive, happy mood. This, in turn, can have a positive impact on potential buyers when viewing your home. Make the most of this seasonal effect by adding some flowers to your yard for additional curb appeal or by placing a few well-chosen vases or planters with blooming flowers inside the house.

1. Spring is one of the busiest times of year for home sales. If you want your home to be seen by a number of potential buyers, there's no time like the spring! Especially if your home is a fixer-upper or has really unique architecture or features that will only appeal to small portion of the market, spring is a wonderful time to list your home for sale! The higher level of buyer interest means that chances are much better for a unique or unusual home to sell quickly and for a price that reflects its true value.

If you're considering putting your home up for sale in the near future, you should call the team at Pyxis Realty today to discuss your options and how to maximize the return on one of the biggest investments a person makes in their life. Don't sit idly by while other capitalize on how hot the local real estate market is; make your move by listing your home with Pyxis Realty and begin thinking now about the size and neighborhood you're looking for in your next home! No matter why you're selling, if you list with the team at Pyxis Realty, you can rest assured you'll be getting the best advice and most personable representation throughout the home selling process, turning a potentnial paperwork nightmare into something truly enjoyable.  

It should come as little surprise to those looking at purchasing a home in the West Michigan real estate market or more specifically, the Grand Rapids real estate market, that the local markets are being touted as some of the strongest in the Midwest. Following the real estate meltdown of 2008, prices and home values in the West Michigan area (and nationwide) slumped dramatically, leaving many homeowners underwater (owing more on their mortgage than their home was currently valued at). Thankfully, West Michigan and Grand Rapids have recovered more fully and quickly than many other major markets in the Midwest, meaning that demand for housing and home values are up and on the rise.

For potential home buyers, this means that many houses that could not be sold for years due to depressed value are finally on the market again, as their owners look to recover their investment and move into a new neighborhood or perhaps a smaller, retirement home. For potential home sellers, this means that they can expect to receive a more fair, nationally-competitive price for a home that a few years ago probably had a price tag that wouldn't recoup the owners' investment in the property. With strong demand for housing in the region, houses are often selling within days or weeks of being listed for sale, sometimes with multiple offers driving the price above the asking price.

According to a Grand Rapids Research Report released by the Chicago-based company Triad Real Estate Partners, Grand Rapids currently has a 98% occupancy rate across 17,000 rental units located in 50 apartment complexes that were surveyed for the study. That 98% occupancy rate is better than those found in most of the strongest markets across the United States. Competition for rental units has never been stronger, and this has definitely impacted the residential real estate world, as more renters are looking to make the leap to home ownership as rental rates increase disproportionately to average income.

This spring looks to be a great season for real estate in the Greater Grand Rapids region, as more houses are generally listed in the spring, and more home buyers are ready and willing to view and make offers on houses once the snow has finally melted. With the rental market so full and competitive, home buyers can expect competition as well on the home purchase market, making aggressive, knowledgeable representation by a locally-based realtor more important than ever.

If you're considering taking the plunge and changing from a renter to a home owner, give the incredible staff at Pyxis Realty a call today! You'll be hard pressed to find a local Grand Rapids realtor with more devotion to their clients than the staff at Pyxis Realty. Additionally, you can rest assured that the people helping you with one of the biggest purchases of your life will be doing all they can to help you. No matter what your budget, you can count on white glove service from the team at Pyxis Realty.

According to a recent article published by Forbes, Grand Rapids is the #1 best market to buy real estate in at the moment, especially if you're looking at that real estate purchase as an investment. The main reasons that Grand Rapids tops this list of twenty hot and desirable real estate markets are population growth, employment growth, and the diversity of opportunities in the area. This should come as little surprise to area residents, who have been seeing the impact of outside investments in our city and businesses really start to reshape the city over the last year.

There have been dozens, if not more, major real estate developments planned. Some of these are new construction, while others seek to retrofit existing buildings by remodeling and upgrading them to make them more appealing to potential tenants. Much of this development has come in the form of mixed-use buildings, which include retail space on lower levels (often including restaurants and breweries), with office space rentals in the floors immediately over the retail space. The upper stories of many of the newly re-zoned or remodeled mixed use buildings generally house humans, either in owned condominium units or rental units that are currently in high demand.

There has also been investment in the development of several major industrial areas in the Greater Grand Rapids region. One of the most obvious is the Medical Mile on Michigan Avenue. What used to be nothing but run-down, single-story shops and buildings has become an area filled with large glass-walled buildings, housing medical schools, hospitals, medical suppliers, and even research facilities. Moving west and north of downtown, the Alpine Avenue area has changed from farmland and golf courses to a major retail center in the city, with businesses ranging from restaurants to big box stores just a stone's throw from one of the major highways.

South of town, the development of the Tangier Outlet Mall has brought revitalization and new jobs to the Byron Center area, and the area around the airport waits with bated breath for a massive planned development out there to begin. Industrial rental spaces, which used to be advertised all over the city, have become hard to come buy, and housing units in nearby areas are also far scarcer than they were two or three years ago. Prices have also increased, following this increase in demand.

Given the ongoing demand for affordable housing the Greater Grand Rapids real estate market, there really is no better time than now to consider investing in real estate as a long-term or short-term investment. Well-care-for rental units can provide long-term income for owners and their employees, and the value of a house can be greatly increased by buying a home in distress and investing the time, sweat equity, and money needed to make it modern and competitive.

No matter why you're considering buying on the West Michigan real estate market, you want to ensure you have a Grand Rapids realtor with real knowledge of the area and the various neighborhoods where you may purchase a home. Call the team at Pyxis Realty today to get the ball rolling on your first investment property purchase, and see what a difference educated, skilled realtor assistance can make!

While we're only nearing the end of January, the weather in West Michigan this winter has been very mild. Thus, it almost feels like it is spring right now, though we still have many weeks to go before it'll officially be spring. Still, if you're thinking of buying a home this spring, the time is now to begin preparing yourself for this massive decision. Whether you're a first time home buyer or someone upgrading or downsizing their home to something more appropriate to their current familial situation, there will be sure to be plenty of beautiful homes in the Greater Grand Rapids area that will fit your needs.

Unfortunately, there will be hoards of other buyers looking at the same properties. With inventory in the West Michigan real estate market and Grand Rapids real estate market at an all-time low, how can a buyer prepare ahead of time for a process that may include bidding against other potential buyers and offering more than the asking price? I'm glad you inquired! Here are three suggestions to help you start getting ready for your big purchase now.

3. Start narrowing down areas. Are you looking to live in a particular part of town, such as East Hills or the Comstock Park area? Do you think you'd prefer upscale condo living in downtown Grand Rapids or perhaps a place with a little acreage outside of town? With so many diverse, engaging communities across West Michigan, it can take a while to find which area is the perfect fit for you and your family. Visiting potential new neighborhoods now is a great way to whittle down the potential list of homes you'll view, making it easier for you to quickly locate and snatch up the perfect property when the time finally comes.

2. Finalize all financing now or in the next few weeks. Don't wait to apply for a mortgage until you've found the home of your dreams! You never know when a minor glitch in paperwork could impact your ability to make an offer on a perfect place to hang your hat. By using online tools to figure out how much home you can afford and then shopping for the best terms and rates on your mortgage, you'll be able to come to the bargaining table ready to rock, ensuring you have one less thing to worry about during the actual buying process.

1. Make up a list of amenities you want/need in a home. This may seem silly, but some people don't realize until after they've closed on a home just how important closet space is to them and how expensive remodeling a whole room to expand a closet can be. Figure out what is most important to you feeling comfortable in your new space now. That way, your realtor can offer you the best assistance in selecting homes to view, based on your needs.

No matter why you're considering buying a home, doing so with some pre-planning always makes the process easier! If you need help figuring out what you'll need in a home, the knowledgeable staff at Pyxis Realty is here and ready to help you find the home of your dreams! Call or email us today to get the home buying process started!

Some things just always come back when the spring showers move across the land: daffodils, green grass, and strong demand for real estate are annual features of spring. Especially in the West Michigan real estate market, where months of lake effect snow (or at least the dull gray of winter rain) have kept would-be home buyers inside, spring is usually a time when houses sell in droves. It's the beginning of a fresh, new year, after all, and everyone is eager to start the warm months off in a new home. 

If you're thinking of listing your home for sale when the weather starts to warm, there are things that you can be doing right now to get your home ready for the uptick in potential buyers and the traffic of showings. Here's a list of three easy ways to start getting ready now to sell your home this spring!

3. Downsize your personal items inside. Whether you're ready to send things off for donation to second-hand stores or just want to box up some of your less-used possession for storage, right now is a great time to begin picking and choosing what items are necessary in a daily sense and also what items will make your home more inviting for potential new owners. Consider moving or storing the bulk of family photos and memorabilia, as a clean-slate house is easier for buyers to view themselves in. It's a fine line to walk; many buyers are turned off by completely empty room, but they still don't want to see the nitty-gritty evidence of your daily life in the space. Try to look at each individual room and decide what fits best in it. Will it help buyers see themselves in the space, or just see you and your family in in?

   2. Handle deep-cleaning projects ahead of time. Don't wait until the day before your open house to have the carpets shampooed or the air ducts for your HVAC system cleaned. Things can go wrong, leaving you with dusty air or still-wet carpets, a sure turn-off to viewers. Instead, space out the major work over the next few weeks. Your wallet and sanity will thank you, and when the time comes to show your home, your realtor will too.

1. Start looking for your new home now. It may sound silly, but if you're selling during the busiest time of the year in the hopes of maximizing profit and minimizing time on the market, chances are good that looking for your new place could be the snag in your plans. After all, you're selling in spring because demand tends to be highest then, and the same will be true for you as a buyer. Start looking now, and make sure you can find the exact new home you're dreaming of.

Whether you're looking to sell your home or buy your first home, the educated, professional staff at Pyxis Realty is ready to help you right away. Don't just settle for any Grand Rapids realtor; go with the best for your own peace of mind!

There are a lot of fun things happening in Grand Rapids and around West Michigan this weekend! Certainly, the amount of cultural events and variety of opportunities is one of the many reasons why West Michigan and the Greater Grand Rapids area real estate markets are highly desirable by many people right now. No matter what your interests, there's something going on this weekend that will surely capture them!

For example, those who have a taste for enjoying the wild places in Michigan may want to head downtown to the DeVos Place this weekend, where the annual Grand Rapids Camper, Travel, and RV Show will be held. It actually opened on Thursday and will run through Sunday. There will be a dozen different RV deals present, with over 100 different RV models on display for touring, making this the biggest RV and Camper show in the state of Michigan. Tickets are $10 for adults, $4 for children ages 6-14, and free for children 5 years old or younger. With over 200,000 square feet of space at the event, it's going to be a great way to spend an afternoon and get some ideas about how to enjoy our state next summer!

If you'd prefer something a little quieter, perhaps consider paying a visit to the Frederick Meijer Botanical Gardens this weekend, where the Grand Room will be hosting the annual Orchid Show, featuring the Grand Valley Orchid Society. The event is free and does not require admission the gardens. It will run from 12:00 noon to 5:00 pm on both Saturday and Sunday. There's few better ways to shake off the winter blahs than to walk through rows of exquisite, brightly colored tropical flowers in full bloom.

If you're looking for something a little more active and possibly something more charitable, then you're in luck! Saturday night, January 16^th, will see the 7^th Annual Juice Ball at the JW Marriot on Louis Street downtown. This year's dinner will be 80s themed, featuring great costumes (attendees are encouraged to dress up, so go grab your Aqua Net) and amazing music, as well as a TV dinner themed delicious meal cooked by students involved with the charity Kitchen Sage. Kitchen Sage attempts to help ground troubled teenagers and youth by teaching them culinary skills and encouraging their passions and creativity when it comes to food, hopefully setting them up for a decent-paying career at the same time. Although it's too late to reserve seating or purchase a full table at the event, tickets will be on sale at the doors for $50 per plate.

As always, West Michigan is full of fun events, from dancing and dinner to flower shows, sure to tickle the fancy of just about every kind of person. Here at Pyxis Realty, we strongly believe that the diversity of our communities and our area's propensity to give back to our home region is one of the many reasons why West Michigan and Grand Rapids are thriving. If you're considering buying or selling your home this year, be sure to get in touch with Pyxis Realty, where you can rest assured you'll receive the best possible service and advice throughout your real estate buying or selling experience!  

The West Michigan real estate market may be buried under inches of fluffy, white snow, but that doesn't mean that it's cooling down! Indeed, the whole region, especially the Greater Grand Rapids real estate market, remains fast-paced and competitive right now, despite the low temperatures outdoors. If you're considering buying a home in the area, right now is a great time to get your home search started. Here are three reasons why it's better to begin the house hunt now as opposed to waiting for the first flowers of spring.

3. The cold will keep some buyers home. With record-setting low levels of housing inventory on the West Michigan real estate market, 2015 was a highly competitive year for home buyers. Not only did they have to contend with rising home values across the region, but also with many other eager buyers, ready to make above-asking offers on the home of their dreams. With the colder temperatures comes hibernation instinct, leading some potential buyers to put off viewing homes or making offers. This means that motivated buyers have a better chance during these slower months to get the most home for the mortgage amount.

2. The furnace and insulation of the home will be easy to inspect. If there are massive drafts, leaky windows, or a failing furnace, it will be hard for even the least technically inclined home buyers to miss them in this frozen weather. Even if all you do is tour the inside of the home, drafty windows and frozen floors will be hard to miss. An inspection of the exterior can reveal much more. Lack of snow or substantially reduced snow levels on parts of the roof may be indicative of damage to the roof or a lack of insulation. Massive ice damns over doors or windows, along with over-sized icicles, may be flashing warning lights regarding the condition of the windows and doors and their seals. Pay close attention to heat loss and comfort issues when touring a home in the snow, and remember to trust your instinct (and your realtor).

1. Sellers and secondary professionals are more likely to be motivated. If you're ever going to get a decent discount on home inspection services or moving company services, it's likely going to be during their slowest season of the year. Compound possible savings from seasonal specials with sellers who have a smaller field of buyers to entice, and you have a buyer-friendly market, no matter how low local inventory may be. Most of those listing their homes right now are hoping to sell before the spring thaw and first real estate rush of the year. That motivation means they are more likely to work with prospective buyers to make a mutually beneficial agreement.

Here at Pyxis Realty, our team understands the nuances of the West Michigan real estate market, as well as the highly varied Grand Rapids real estate market. If you're looking for a home this winter, don't get left out in the cold by high-pressure sales tactics or underwhelming service. Call or email the Pyxis Realty team to ensure you're receiving the kind of white glove service that could melt the coldest of hearts. Happy home buying!