GRAND RAPIDS, Mich. (WOOD) — A prominent Grand Rapids area real estate agent is predicting a busy year for the housing market.
Kyle Visser, who announced the new brokerage on Monday. livesaid that sales in 2023 decreased compared to the previous year. He explained that high interest rates scared off potential buyers, and those who bought homes were forced to do so due to circumstances such as divorce or job relocation. There weren't many buyers who were just moving on because they were ready to relocate or move into a bigger home, he said.
But he expects the situation to change in 2024, with interest rates expected to fall this year.
“I think as we move into 2024, interest rates will be down to where they are now (in the 6% range), so all of a sudden you'll have buyers who were sitting around doing nothing, and then you'll also have buyers who just moved here.” said. “There are some buyers in the market. We have very limited stock — like we have very little inventory — so things are moving quickly. ”
He predicts that the “disruption” in the seller's market seen in January is likely to continue into the spring.
Mr. Visser said the Federal Reserve Plan for 2-3 interest rate declinesmore potential buyers who have been sitting on the sidelines may jump into the market.
“In terms of market disruption, we're going to have another COVID-19 outbreak. It was the biggest market boom we've ever seen,” he said. “I think it's going to be a hell of a market in 2024. That's my strong prediction. Last year, while the market was a little stagnant, sales prices increased by 5%. So next year, sales prices will increase by another 5%. I think it will go up by ~10%.”
His advice for buyers is to find a real estate agent who knows the market you're looking at, get pre-approved, and can tweak the terms to make your offer competitive. is to trust.
“You're making the biggest financial decision of your life. Look for someone who knows the market,” he said.
A “youthful” approach to real estate
Mr. Visser has been involved in the industry since 2015 after retiring as a professional basketball player overseas. He started working with his former brokerage firm, Keller Williams, which he said was “awesome” to be joining.
About three years ago, he decided he wanted to start his own brokerage firm.
“For the last six months, I really wanted to do this. With the help of my staff and of course a lot of encouraging people, we put this brand together: ReSIDE,” he said. Ta. “I decided it was time to forge my own path and make things better for both my staff, my clients and the local industry.”
It took about six months to put the branding together, and Visser said he wanted it to be crisp and perfect.
ReSIDE (Headquarters) 1460 Dr. Lake There are three other licensed agents near Welthy Street in East Town. Visser said ReSIDE will focus on making things better for customers, leveraging things like social media and better video and photography to blend tradition and technology.
“More than anything, I love people,” he said. “I love connecting with people, helping them move on to their next chapter, and making sure they feel protected and properly advised about the process, giving them real meaning every step of the way. I love communicating.”
