Real Estate Boom Impacting West Michigan

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

KENTWOOD, Mich. – Analysts at Corelogic said housing prices are the highest this country has seen in seven years, which is good news for those looking to sell.

For a homeowner, putting the a “for sale” sign in the front yard can come with a lot of uncertainty, which is exactly what happened to Luke Ludlow.  After getting a promotion at work, his next move was to put his home in Kentwood on the market.

“We put it up on Monday and we’ve had four showings already and then we have another two tomorrow,” Ludlow said.

While the interest from potential home buyers is exciting, it also poses a new problem of finding a new home for his family.

“In the back of your mind it’s like, ‘Wait, If I sell this in two days I got to have a plan to go down to Kentucky.’  So we are actually going to live with my parents for a little bit which, that will be fun,” he said.

These are the kind of problems real estate agents, like Larry Martin Jr., have been waiting for.  Martin said it’s been years since he’s seen this type of activity.

“My best year however was 2006 where I sold 115 homes,” he said.  “Then the next year that was cut almost in half.”

During the lean years Martin said a lot of agents left the business looking for other work.  Now he’s seeing more competition again.

“Things have really picked up,” he said.  “There are a lot of new agents that are coming in right now so that is going to be challenging I’m sure.”

Sellers like Ludlow are just hoping a good market will mean good things for his future.

“We don’t know, so it’s a really difficult situation to be in and you have to be fluid and say what happens, happens,” he said.

Most of the people that have experience in the industry said they know the market can flip on a dime, and the best thing for a new agent to do is save money for a rainy day because the rain can start falling any time.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.