Tag: property values

Why Grand Rapids Property Values Is Building A Healthy Economy

This Guy: David Korten Is On Point

Mr. Korten is an author of the Living Economies Forum, and the tagline is lovely. “The old economy of greed and dominion is dying. A new economy of life and partnership is struggling to be born. The outcome is ours to choose.” This optimistic fact/belief is only helpful.

His background is as a former professor in the Harvard Business School, and it’s no secret that he’s a political activist that’s against Corporate America.2325235254_c08b63ac5a_b

Think Monopoly for a second, and let’s get philosophical. The board is GR. There’s the river dividing east and west, and Divison Ave. runs parallel drawing the half line. Broadway is East Grand Rapids. Xfinity is general electric. 6th street bridge, blue bridge, Marquette Rainroad bridge and 131 are the railroads. It’s green, or trying to be: the middle of the board is about 36% tree canopy. There’s Alpine and 28th street to shop. Meijier all over the perimeter.

Let’s Play Monopoly: GR

And you, a blue or white collared individual set to play against the big doughs: Devos, Meijer, VanAndel.

They are going to try to buy the board on short sale with a hedge fund.

Oh, and you did not start with the same amount of money. That rule was just so you didn’t kill a sibling growing up. This is real life, and you learned to get a long even when it’s not fair. This game will be short.

In this imaginary Monopoly game and maybe real life…You are going to use Grand Rapids Property Values and be apart of establishing what David Korten calls a “Healthy Economy”.

  • Financial Stability – the opposite of “phantom wealth” and speculation on financial bubbles…real wealth has sound productive investment that responses to community needs and creates opportunity.
  • Earth Balance – this calls for a reduction of aggregate, many parts that come together for a whole, consumption and an increased commitment to the health of the earth.
  • Shared Prosperity – Everyone earns a livelihood conducive to well-being. “This requires dealing with defects in the system structure that deprive a majority of the world’s people of access to an adequate and dignified means of living.”
  • Living Democracy – Every person being an active part of society working in communities to solve problems (politics) and economic decisions that bear on health and happiness, which requires restoring the caring relationships of ‘the village’ which breaking up “unaccountable concentrations of economic and political power.”

A different individual owning one spot each would create those four things, no matter what each individual believes. There’s a cat’s game, right there. No one wins. Everyone plays. And the game goes on and on.

You know how monopoly goes. Especially with this inequitable share of wealth, you are toast.

The Game Ends, The Bubble Bursts…

The dude, or corporate entity, that gets the property monopoly may have values in all these areas(for example): financial stability (Devos), earth balance (LEED certified buildings), shared prosperity(Philanthropy), living democracy(ArtPrize?)…and could create an idyllic world…

Because things like ArtPrize are holding space for people to come together. 

Then there are things like ArtPrize creates this national-global reputation and Grand Rapids increasingly becomes a gem, attractive to outside investors. All of sudden there’s more than the local high rollers involved. 

Well known in the news, Grand Rapids is a great place for renters, rentals, flips… Here’s an Mlive sample. 

Word on the street is: Renters are experiencing a rent hike…how hard it is to find a good rental place…With so many colleges are pouring out graduates who want to stay and raise their families here because also hear how great Grand Rapids is for families. Here’s a sample from Forbes.

There’s this humm on the street of “investors”: Here’s a sample from Compass Properties.

Hummm…Hedge Funds…

These things aren’t easy to explain…and that’s part of their definition. Transparent handling of funds is not part of hedge fund. It’s in the namesake…you trim it, and you can’t see what’s behind it. Mysterious Funds…Read an article from Complete Real Estate about “What In The World Is Going On With Hedge Funds“. 

There’s this: “Vision Real Estate Investment in Grand Rapids is a cutting-edge real estate investment firm, focused on the acquisition, development and management of commercial properties in the West Michigan area. We strive to make a positive impact on our community while adding value for our investment partners.”

This is speculation, but it sounds like the cutting-edge is hedge funds, and maybe there’s that localist community values that happen in a healthy economy AND investment, faceless, far away (perhaps) partners will profit. (Eye brow raises)

There’s this: “Build local is the next buy local”,healthy economy

Thanks for playing and pulling this apart a little bit to see how greed and dominion can die to leave room for life and partnership.

“I’m Over The Hedge” Unless…

Unless…the grassroots communities that are under-resourced can be funded through big investors. Balle is a group, sort of like a rule keeper (value keeper?) for that Monopoly, lost. When the people who have the money have the priorities of a healthy economy it can be more than just bubble and bust…but bustling…

If you are interested in investing click here… 

If you are interested in buying your own home…

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4 Reasons Why the Lower GR Property Tax Rate Will Cost Homeowners so Much More

In all fairness, Grand Rapids, MI, homeowners won’t be clawing at the walls for a way out of this, but it’s good to know that the GR property tax rate will indeed dip just a bit based on the proposed budget for the new fiscal year beginning this July. You’d think that would be a good thing — funny, that real estate can be fickle and unexpected at times, especially in our great city of Grand Rapids, but the fact is this:

Some landowners actually might have to pay more!

Why Will the Lower GR Property Tax Rate Do That?

The fact is there are some landowners out there that paid more in taxes due to the GR property tax rateGR property tax rate Euchre increasing from last year. Because of that, city property taxes for the everyday GR homeowner might go up by just over 9 bucks this year, and here’s why:

Yes, It Sounds Crazy — Like Euchre Does to a Southerner

Bowers this, bowers that. Crazy card game. Real estate, though, isn’t that much different, but with Grand Rapids Property Values helping you along the way, you just might master this strategy of strategic financial planning based on property values in Grand Rapids, Michigan.

Know what you could be facing down the road. And you’ll be better prepared for the future.

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How the Millage Rate Affects the GR Property Value

A little bit goes a long way: that’s what we want you to remember when considering something called the “millage rate.” What is the millage rate? Simply put, it’s a property tax rate defined by the tenths of a cent applied to assessed property value. Might not seem like much, but when you add it all together, that’s something every GR homeowner, home buyer, or home seller would very much like to know….

It Makes for a Drastic Change in the GR Property ValueGR property value scale

What’s going to happen to the GR property value starting this July is a slight dip in the property tax rate. Yes, it sounds like a good thing but not when you have a particular relationship going on with the millage (the actual tax rate per tenths of a cent) and the actual property value. And here’s the great thing about Grand Rapids these days: the GR property value all around is actually going up. Great for the market, but not so good for actual tax dollars even if the tax rate drops a bit.

This is what it’s going to look like very soon: we’re going to see a drop from 9.1518 mills to 9.1515 mills. That’s .0003 mills per $1K in property value. The reason why the millage is dropping (hence the property tax rate per homeowner will be dropping just a tad) is because the actual property value is going up. It’s all about balance.

This ensures the city’s subsidy to the convention and visitors bureau sits at a steady $50K. Look at it like a scale, for instance. Both sides need to be even. If overall GR property value starts to climb, Grand Rapids will ultimately have to see that the millage rate goes down.

And the Millage Rate Doesn’t Have to Go Down a Whole Lot!

That scale can crash and burn just from one ounce of an ounce of a feather landing on one side, so when you think about it, the real estate market is very much like a balance. Keep it steady, and everything’s good in the GR economy (which is impossible). One side starts to fluctuate, and you have to compensate (and it’ll certainly ruffle up the industry some, but that’s normal!).

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Translating Taxable Value of a Grand Rapids, MI, Home

No, you don’t have to be a genius mathematician to figure this out (that’s what this website is for, actually). Truthfully, Grand Rapids, MI, property values isn’t that hard (but certainly plenty out there make it a lot more complex than it should be!). In regards to the latest news about property values for, for instance, your Grand Rapids, MI, home, you’d think that the lower millage rate we heard about would actually be maybe even a slight benefit to homeowners. But it’s not. Want to know why?

Taxable Value Does Change When It Comes to PropertyGrand Rapids, MI, home sunshine

Case in point: if property values remained the same year after year, lower millage rates would definitely see a decrease in city property taxes. For sure. About 1.4 cents, to be exact. But that’s not the case here in the everyday Grand Rapids, MI, home, for instance.

Property values change every year one way or another. This can take a lower millage rate and turn the taxable value into something completely different. As it stands right now, with this lower millage rate proposed for every Grand Rapids, MI, home, taxable value per home having seen an increase from $45,138 to $46,141 in this past year won’t really drop the property taxes at all.

It will, in fact, raise it just a bit for every single Grand Rapids, MI, home.

Think of It This Way: Property Values Go Up, Tax Rates Go Down, But Accumulate Much More

It’s basic math. But there’s a balance, and people have to be on top of the changes like psychics on a hotline. It’s about prediction. Weather patterns. Knowing when the storm’s about to hit. The real estate market with respect to property values is a tricky little industry, but if you know what’s going to happen, when it’s going to happen, and what will happen when it happens, we can safely say you’ll be prepared!

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Not Property Tax Rate, But Property Tax VALUE in GR, MI

We know you’re probably sulking just a bit over the fact that you just might have to pay a little extra in property taxes in Grand Rapids, Michigan, and we feel your pain. But take note — there’s a silver lining at the end of this tunnel! Rain clouds, be gone, because we’re seeing some sunshine today in our city of Grand Rapids, Michigan. You just have to look at the situation in a different light.

Think Home Selling When It Comes to Property Tax Valueproperty tax value home improvement

Because the property value all across the city’s starting to increase, which is a truly welcome development given the fact that the past several years saw a major decline (bad for the real estate market as a whole), yes, we’ll see just about every Grand Rapids homeowner pay an extra $9.17 in city property taxes. Nothing to scream at, and we can deal with it, but the bonus is this — the market will be ripe for a home seller’s advantage, meaning big bucks all because the assessed value says so.

So the property tax rate might go down just a tad, but overall because the property tax value is going up, we can expect for our homes to be of more value, our land will be more of a hot commodity than ever before. We can sell our homes for a bit more. The comparables will testify to that. Neighborhoods will flourish. Home improvements will make their way to additionally increase the value.

It Was a Long Time Coming

Grand Rapids, Michigan, saw the slump in a big way with respect to the real estate market. But it’s now time for a change. It’s time for growth. Success. An increase in home sales and happy faces. And it’s definitely worth it to pay close to just a measly ten bucks to make that happen.

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Your GR Property Taxes Will Pay for More Than Just Your Own House

Let me rephrase — those GR property taxes you’ll be paying very soon here will contribute to a whole lot more than just your own city taxes for your own property. We’re talking about the entire concept of property taxes, so while the millage, as has been figured, may go down slightly, since values are going up everywhere, and tourism starts to increase here in Grand Rapids, Michigan, be prepared for your property taxes to go a much longer way than your front yard and sewer system in the neighborhood!GR property taxes library

Proposed City Budget Revenue for GR Property Taxes: $37.8MM

That’s a lot of money. Tax rates will include 2.857 mills for general operations. That can include all city services we may not even pay much attention to. Your taxes, however, will keep them going. 2.4533 of the mills you’ll be paying in taxes will go to the Grand Rapids Public Library, another 1.6 mills will go to your trash services, another 1.25 mills will go to capital improvements in the city, and another .98 mills will go to all the parks you take your kids to.

When you break it down like that, it seems worth it to pay those GR property taxes! So instead of paying $413.09 in city property tax, you’ll be paying $422.26. Just under ten bucks. Nothing much to scream about, but when you add it all up together — include every faithful Grand Rapids, MI, taxpayer — that’s a great deal of money to go into all sorts of advancements our city will need,

Just Bear That in Mind

Paying taxes doesn’t have to be bad! It’s actually a good thing. But it’s even better to just be prepared and stick with Grand Rapids Property Values and be in the know about what to expect when it comes to your home’s value as well as your property investments. Honestly looks pretty good, and we can only expect a bright future for Grand Rapids’ real estate economy.

 

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4 Top Real Estate Tweets for #NPV by @Starwise

Word’s spreading about NPV, no doubt…. (sorry, Zillow). We’re all in this together, though, when it comes to real estate, because when you boil down the bread and butter, ultimately what matters to the market is this — growth. We want growth. We want stability. We want affordability. We want cash flow, innovation, interest. We want new developments, people moving “up” in the real estate market, others buying, plenty of sales, and lots and lots of successful open houses.

And Without a Doubt, Real Estate Technology Does Play a Rolereal estate twitter-1

Nationwide Property Values certainly offers the fair share of the success, but a lot of it due to technological word-of-mouth a la Facebook, innovations like Periscope and Meerkat, Google+ pages like the HOPE Program and even a feisty upstart in a facet of the real estate industry, Independent Credit Solutions for credit repair for that home mortgage approval. We all know that YouTube plays a role, and even Pinterest makes a mark in the real estate market as well as plenty of other social media platforms…. But we thought it prudent to shed some light on the spread-like-wildfire power that is Twitter (not just when it comes to home selling) through the eyes of one tweeter making major headlines with mentions and retweets galore for some of the sweetest articles NPV has laid out for the masses.

We’ve done the research. We know what’s circulating out there, and we have the results: these are the four top real estate tweets about some of the information we’ve brought to you, so it would do you well to take notice. We know what the real estate industry’s looking at, as well as Twitter and Mr. Starwise (alias, Pierre Roustan), and we hear you loud and clear.

It’s about time you hear it as well:

The Results Are Real and Accurate

Real estate continues to make headlines, especially given the news about the real estate market climbing and even the story about the Chinese investing in Texas real estate. Whatever the case, it’s clear: we’ve got the news aplenty, and the stories are circulating the cyberspace airwaves. Pay attention, please.

Real Estate News Shocker: the Ugly Duckling Might Achieve Greater ROI?

When considering property values and what affects them, you have to wonder if it makes any difference on how shiny your palace is when it comes to ROI. After all, the concept of ‘value’ makes sense with everything else:

  • Jewelry
  • Automobiles
  • Furniture
  • Appliances
  • Electronics

Admit it: the better the quality, the better the value, as many H.O.P.E. to Own reviews would say. So the idea that real estate, as linear and understandable as it may be, actually increases in value when the ‘quality’ decreases can very well turn the world on its head and cause Armageddon! It’s true, though. This is the logic behind it.ugly duckling property values

Why Your Less Attractive Home Can Improve Your ROI

There’s a real misconception regarding return on investment, especially with regard to home improvement. ROI hardly has anything to do with how pricey something is. ROI is all about the return. Getting a return on selling a block of wood for $5 when you paid $3 is no different than selling a house for $500K when you paid $497K. Your ROI is still only three bucks. It’s all relative.

That’s why true property value with respect to ROI relies on the land in which the structures sit on. Therefore if your home is quite expensive due to updates, square footage and other such luxuries, you can expect the property to appreciate less than a little rent-to-own home that might be a bit lackluster.

It’s that lack of appreciation that’ll drop your ROI some. In the end, when you do the math, an “ugly duckling” might actually net you more ROI, believe it or not. In fact, might is probably not the effective word. “Most likely” is more likely it.

Don’t Let Your House Go, Though

Maintenance is key, though. If there are termites, take care of it. If the roof’s about to crumble, remedy it. But don’t be too worried about the aesthetics. You might get a lot of interested buyers in the long run, but when it comes to your bottom line, what you’ve invested in the property might be way much more than what you get back when it’s all said and done. Learn more about rent-to-own homes here and home improvement here.

Why the Cul-de-Sac House Can Make for Impressive Property Values

Allow me to elaborate a bit more on how property value’s influenced by location: it’s not just the availability of land that makes sense when it comes to property value. It’s what builders and developers actually do with that land that can influence property value. Location’s a big deal, as we’ve already stipulated, and when considering cul-de-sacs, you have a goldmine, after all —

But Why? Why Are Cul-de-Sacs So Awesome?property value cul-de-sac

Social, cultural and demographic factors play a role when it comes to property value for obvious reasons. Safety, privacy, community: Cul-de-sacs provide just that. Families look for that. Since the demand for that cul-de-sac is so high, property value — and therefore price — can go up. Families will pay top dollar for that cul-de-sac house for obvious reasons, not limited to typical real estate going more on the upscale and high profile.

That’s not to say you should try and pitch for more and more cul-de-sac houses, though. Saturation won’t get you anywhere. The cul-de-sac house is hard to come by in a neighborhood. For every 20 homes, you might get one cul-de-sac house. However, if you’re a home renter, and you come across a particular piece of cul-de-sac real estate that’s rent-to-own, you’ve got an opportunity in your hands to build your credit and maintain some great value, you’re golden. No doubt about that.

It’s All About Strategy

Perhaps you’re newlyweds looking for the right home. A cul-de-sac is appealing. Or maybe you’re opting for safety and security over in Wyoming, Michigan — your service with law enforcement, neighborhood stability and watches will be top notch in a cul-de-sac home. You can’t beat that sort of community feel.

Be prepared, though, for some high demand and competition. As a seller or investor, though, you can relish in this outcome: lots and lots of ROI!

Tackling the Hardest Real Estate Category in Cost Estimation: Maintenance Expenses

So you don’t like math. We understand. Many of us here at Nationwide Property Values don’t as well. We’d rather target the next innovation for home selling, social media, and tackle it with gusto. That’s a whole ‘nother ballgame, though. Cost estimations are still the cream of the crop, the standard, in figuring out what your rental property expenditures are. But get ready for probably the most agonizing part of cost estimations:

Maintenance Costs: the Devil’s in the Detailsproperty values devil

Many gurus, even, will underestimate this amount for maintenance costs. Why? It’s typically the hardest to estimate, because quite frankly you can’t predict the future. You don’t know if the devil’s going to cause your roof to collapse. Here’s the general rule, though, when figuring out your maintenance costs —

They need to be 1% of the property value each year. Make a note of that. 1%. When you figure that percentage for your maintenance costs, that should cover anything that could happen. The devil’s a sneaky beast there, making bad things happen, but you’re on the ball covering the financial bases.

When you break down, say, a piece of property valued at $150K, for instance, you’ll be looking at maintenance costs of $1.5K annually. That’s $125 a month. Who knows: you might come out one month without having to spend a dime of that percentage in maintenance costs. Good. If not, though, you have a good enough cushion for maintenance costs to sidestep disaster easily, allowing you to have a “No Work Wednesday” from time to time, breathing easier as the revenue continues to roll in.

You Shall Overcome!

Not to be too religious here with all the devil imagery, but let’s face it: disaster costs money. And we can never be perfectly prepared for the worst to come. With what you learn here when factoring in maintenance costs, though, you’ll at least survive and perhaps come out on top every single time mishaps occur. Thank God.