Steve Volkers Group Blog | In The Market

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Now that we are in November and inching closer to Christmas, the season of giving is in full swing. As a person who has gifts at the top of my love language, I couldn’t be happier about this time of year. There’s nothing I love more than shopping and picking out the perfect presents for the people I care about most. As a realtor however the concept of gift giving can get a little complicated. 

One of the many changes following the crash from 2008 is the tightening and attention given to RESPA. RESPA stands for Real Estate Settlement Procedures Act and isn’t new. In fact, it was signed into law in late 1974 and provides consumers with proper disclosures regarding settlement costs for closings and the transparency and elimination of referral fees and…

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Download the October PDF

The real estate market lags what is happening now in the financial markets...it's time to focus on your goals.

Hey, I'm Steve Volkers with obviously the Steve Volkers group in Grand Rapids, Michigan, and this is our market update. It is now November, and we just got done talking about Christmas. I am a Christmas guy. I really like the holidays. So you know, just for anybody that wants to. Christmas music is out and it's okay for me at least.

We have some, you know, scrooges in the office that don't agree with me this morning, but that's okay. Let's get into the market data. So market data. November, and obviously we're talking about the data for October that came out, that big Kev behind the camera put together for…

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There's a lot of talk about people staying in their homes and no one wanting to sell because rates have gone up. No matter what some situations always prompt people to at least consider selling, and those are the way to a listing agent's heart. I'm going to uncover a little bit more about each of those reasons why these people typically decide to move and sell a home regardless of what interest rates are. And they all happen to start with the letter D.

The first D is diamonds, typically implying an engagement or marriage. According to NAR (National Association of Realtors) in 2021 single females made up 18% of home buyers and single males made up 9% of home buyers, which combines for 27% of all home buyers. 

I think many of us that have been…

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Video transcript:

Hey guys, I'm Steve. And this is the Steve Volkers Group, and this is September's market data update dump. I'm gonna try to keep it at 10 minutes. We'll see Kev. I don't know. I might be able to do it this this month. I feel like some of it might be possible, but we're using obviously August data Kev puts together this big book for us from our association, and then he chops it all up and we get lots of great.

Feel free to put a comment below in the video. If you want a copy of this, if you don't have a copy, we're welcome to send it to you each month. But this month I, I got this fancy new notebook, so I'm gonna use it cab, but. The topic of this month is don't chase the market. That’s what we talked about in our meeting…

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There’s a running joke amongst some real estate agents that many of us left the feeling of a comfortable salary and being told what to do by a boss, being chained to a desk or phone for 40 hours per week, only to become a real estate agent and work 24/7. Sure there are perks like building your own business, having no income caps, and enjoying flexible working hours but that comes with clients calling and texting you at all hours, other agents that you need information from that may not respond or be nice, 100 % commission only, all the license and access fees and of course getting paid last after all the hard work.

Television makes this job look so easy and glamorous. In reality, it is not. Some days I feel less like a realtor and more like a truck…

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When it comes to buying a home, there is a lot to think about. From the location, to how many bedrooms, to garage space, there are multiple factors to consider. How about buying an existing home versus buying new construction? We have lived in both an existing home and in a new construction home, and while there are definitely pros to both, I think it is important to highlight why new construction is a great option.

1. New construction homes are move-in ready.

While this may seem like a fairly obvious point, I think that it is an important one to reiterate. While an existing home may have some old charm, oftentimes, it does require some work, whether that be simply updating some outdated countertops or as costly as replacing an old roof. The…

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Video Transcript:

Hey, I'm Steve Volkers and we're the Steve Volkers Group. I think it's like a lair now. I feel like this is our like, like secret sauce lair but we are doing the July numbers in Grand Rapids, Michigan, which is basically Kent county. The data that we get from our association each month, big cab behind the camera puts together.

This booklet of information. It is data that is, is accessible by agents, but Kev puts all of his fancy spins on it, adds all kinds of math to it. And so then I get to spill out the information that Kev does with real life stories, working with buyers and sellers. So we have been talking about the market shift or last month, if you played along all the verbs or all the nouns or whatever, I'm not good…

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Download the Data PDF

Video transcript:

Hey, I'm Steve Volkers. This is the Steve Volkers group, which is my name kind of goofy. Right. But it's my company. So it's my name. We are talking market data and we're gonna talk, this is, uh, the July episode, but talking June to the past and we've been rolling with this Kev. I feel like we got a pattern going.

I talk too long, even though I'm gonna be sort of shorter every time in my mind, but there's always good things to talk about. This came out of just my 16 years of experience. A lot of people ask me about the market what's happening in residential real estate market in west, Michigan and economy and those kind of things.

And I just like keeping up with it. So, uh, Kev was like, we…

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Submitting an offer in a competitive market where you know there are multiple offers feels a bit like sending a racehorse to the starting gate and hoping for the best. Given that it is May and the Kentucky Derby takes place on the first Saturday in May followed by the Preakness just a couple of weeks later, I can’t help but notice the similar feelings and emotions. For the Kentucky Derby 20 three-year-old racehorses are loaded into a starting gate after years of careful planning and strategizing, only to let loose to run hopefully what will be their best race for what is known as the greatest two minutes in sports. 

Anyone that knows horseracing, knows the favorite horse doesn’t always win the race. There are many factors at play in these races:…

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Video transcript:

Hey, I'm Steve Volkers broker owner of the Steve Volkers group in Grand Rapids, Michigan. And this is our monthly market update. This is like three in a row Kev. This is pretty legit that we're actually making. What is it like if you got to do 90 days for a habit? So maybe we're, maybe we're making a habit here, but we are talking market data.

Feel free to watch the last two episodes, which sort of built into this month's data. First episode was really about the inventory shortage, still feeling the crunch of that. We talked a lot about new construction and the fact that new construction hasn't come online. To having that issue, which is what the big spike was in pricing over the last six months.

Then, we started talking…

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