Housing sales in southwest Michigan continue look promising
Kalamazoo, Michigan – December 18, 2012 – The Greater Kalamazoo Association of REALTORS® (GKAR) announced their response today to the Monthly Cumulative Sales Report for November.
The data continues to display encouraging housing news for Kalamazoo area home buyers and home sellers alike. Residential units sold (closed) in November 2012 indicate a 9.24% increase in homes sold compared to November of 2011. The average residential selling price continued to increase compared to November of 2011, up 21.25% to $152,384. This significant rise in home prices can mostly be attributed to the sale of some higher end homes as compared to the previous period in 2011.
November marks the seventeenth consecutive month of an increase in transactions from the same time the previous year. Residential units sold (closed) are 18% higher, year to date, than in 2011.
“Decreased inventory remains at lower levels than in recent years. current housing inventory is less than seven months,” said Robin Pompey, Chief Executive Officer of GKAR.
Recent average interest rates on 30-year fixed mortgages remain low at 3.32%, which puts the rate below its average of 3.94% a year ago. Additionally, rates for 15-year fixed mortgages averaged 2.66% and the 5-year adjustable rate is averaging 2.7%.
About Jack GesmundoAmerican Village Builders was established with a focus on quality and fairness. We believe in building better homes through quality design and materials, superior craftsmanship, and comprehensive, caring service. After more than 30 years in the home design and building business, our shared commitment to these ideals remains stronger than ever. We have refined our clear and inclusive process to provide you with unsurpassed value and homeowner satisfaction. Site Selection Picking an appropriate site is the critical first step in making your dream home a reality. Whether you own a parcel of land, or you are considering acreage, lake-frontage, or one of our planned communities, we will help you select the site that best suits you. There are always a number of factors to take into consideration, such as vegetation, topography, light exposure, and the style of home you plan to build. We will help you fit your new home into the surroundings with minimum environmental impact. Design Designing a new home is an exciting and fun process. Our team will carefully listen to your needs, document your ideas, and prioritize your options, so you get what you are expecting. We will help take the guesswork out of what can feel like an overwhelming and complicated process. Our knowledge and experience, Computer Aided Design (CAD) software, and drawings will help translate your ideas into a lasting, valuable asset. Pricing As we work with you, rest assured that precise costs are available before we begin construction. Three decades of experience pay off for you as we secure the best possible bids for materials and labor, utilizing our superior purchasing power, purchasing alliances and knowledge of the market. We then build efficiencies into the building process to avoid down time and waste. Before you build, we guarantee costs. Selection Process Once you finalize your plans, we apply for building permits and it is time to select those items which help make a house a home: exterior colors, cabinets, trim details, appliances, floorings, plumbing and lighting fixtures. We provide you with a schedule for these individual selections and keep your home on schedule. Our Selections Coordinator will guide you through all the options and help you make the right decision so your home reflects your personal style. At the same time, we know you will make some changes in your selections as your new home unfolds. We can easily respond to those adjustments through our detailed change order process. Quality Building Our design and construction process is the most comprehensive and inclusive you will find anywhere. Open, honest communication is the key to our partnership with you. At site excavation, we stake out your home and entry drives, walk the site with you, and confirm everything fits into your vision. This kind of personal care continues throughout the building process as you are actively engaged in regular meetings and site visits. Your questions, concerns, and modifications are addressed immediately with personal attention. Quality Care American Village Builders will ensure your new custom home will have enduring quality and a lifetime of enjoyment. Once you get settled and have a chance to “test drive” everything, we will be there to do the fine-tuning with a 60-day Customer Care inspection. We also provide an 11-month walk-through to make sure you are completely satisfied. As a finishing touch, you will receive a custom homeowner’s manual, complete with warranty details, specifications, and trade contractor information, so you can care for your new home with confidence and protect your investment.
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