GRAND RAPIDS, Mich. — Buying a home isn't easy, and with the market right now, it's ideal for someone looking to sell since there isn't a ton of inventory.
On top of that, West Michigan's market is one of the hottest in the state.
"I didn't think it was gonna be as bad, and I was wrong," Dan Holbrook told FOX 17.
Holbrook is currently in the house hunt, but the issue is it has been going on for a year.
"Sometimes, you just don't move quick enough for those houses. And we lost out on, I'd say, about five or six houses that [we] put bids on [and] got completely outbid," Holbrook explained.
His family's hunt is one of many going on.
"It's incrementally getting better," Greater Regional Alliance of Realtors (GRAR) President Paul Bunse said.
GRAR tracks the housing stock in West Michigan.
"The lack of inventory — what that leads to is a lot of the multiple offer situations, which we're seeing less of but definitely still out there, which is, in turn, driving up some prices," Bunse explained.
Holbrook sold his home in Hudsonville. He says as quickly as it hit the market, it sold for a great price.
"I got lucky, and I sold my house for more than I paid for it, and so I thought that would help out," Holbrook said.
Beyond current owners selling, hope for prospective buyers also lies in new builds.
Grand Rapids city data shows nearly 1,000 new units were built in 2023, with most of them being higher-density developments.
"I think that higher density is critical to the housing inventory and availability issue that we have," Bunse said.
Holbrook hopes he can find his slice of paradise somewhere up north.
"I want a good piece of land to hunt, to build like woodworking, and I wanted to, you know, find a place to expand," Holbrook said.
Bunse shared the following tips to help you get into a home quicker:
- Waive or shorten your inspection window.
- Include an escalation clause in your offer.
- Talk to your realtor about appraisal waivers.
