Les Bois - City of Trees - Boise

The Housing bubble myth

2006-10-27T07:09:00.000-06:00

You hear it in the morning news shows, on the cable networks, and in local news papers. Screaming so called investment professionals saying the housing bubble is bursting.

As a real estate professional, I am regularly asked how I am doing with the market so far down. My answer is, “what are you talking about”? I have been working with buyers and sellers the same now as BB (Before the Bubble). I would like to take this time to say that there is no bubble in real estate. The bubble was coined for the dot com industry that exploded when the paper stock could not be sustained. Real estate buying and selling is the life blood of the United States of America; it has always run the economy and always will.

Boise and Southwest Idaho, just like other parts of the country have started into a correction in a market that was un-sustainable. If you look at real estate in the long term, we are on a swing in the direction of catch up. When you read in our local newspaper that real estate is taking a dive, you must look at the complete picture.

Most folks that have become interested in real estate either as a primary residential buyer, investor or for any other reason do not remember buying a house in the 70’s 80’s or even the 90’s. Most of the news reporters were either not born or were in grade school when their parents bought homes. Your parents bought home’s for sales prices of $29,000 and paid 12% interest and up.

What does a correction in the market mean? (shift happens) It allows buyers the American Dream, to own a home. Now is the perfect time to buy. Interest rates are still at an all time low, incentives to purchase are vast. The correction also means that some real estate professionals, loan officers and other related industries will not be in business next year. Why? Because they listened to the screamers on TV and print news and thought we were a dot com. But we aren’t are we! We deal with human beings that need to know the truth in buying.

What happened with real estate investors? Well, they were never investors. A true investor is a well educated and intellectual individual that has studied the real estate market and is in it for the long haul. Many off-shoots of the so called boom, was the group I call the flippers. No these are not fish, but individuals that tried to cash in on the “craze”. Are they around now? No! They were listening to the morning news shows and print newspapers.
Boise Idaho is a hot market that families from other parts of the nation want to live. We are going to continue to be that hot market. I am proud of our Home, and will continue to provide trustworthy guidance to my clients.

New Idaho Home Sale Statistics

2006-08-12T11:16:00.000-06:00

Ada County
Home sale statistics for Boise, Meridian, Eagle, Garden City, Kuna and Star. Residential home sales for July 2006

Ada County end of year home sale totals for 2005

Adams County
Home sale statistics for Council, New Meadows and Surrounding area Residential home sales for July 2006

Blaine County
Home sale statistics for Sun Valley and Surrounding area Residential home sales for July 2006

Boise County
Home sale statistics for Idaho City, Garden Valley, Crouch, Horseshoe Bend, Residential home sales for July 2006

Bonner County
Home sale statistics for Sandpoint and Surrounding area Residential home sales for July 2006

Camas County
Home sale statistics for Camas County and Surrounding area Residential home sales for July 2006
Canyon County
Home sale statistics for Nampa, Caldwell, Middleton, Melba, Parma, Wilder and Greenleaf. Residential home sales for July 2006

Cassia County
Home sale statistics for Burley and Surrounding area Residential home sales for July 2006
Gem County
Homes sale statistics for Emmett and surrounding areas. Residential home sale market for July 2006

Gooding County
Homes sale statistics for Wendell, Bliss and surrounding area Residential home sale market for July 2006
Elmore County
Home sale statistics for Mountain Home and surrounding areas. Residential home sale market for July 2006

Jerome County
Home sale statistics for Jerome and surrounding area Residential home market analysis for April 2006

Lincoln County
Home sale statistics for Shoshone, Richfield and surrounding area Residential home market analysis for April 2006
Twin Falls County
Home sale statistics for Twin Falls, Kimberly - Hansen, Filer, Buhl, Castleford and surrounding areas. Residential home market analysis for April 2006
Malheur County
Home sale statistics for Nyssa, Ontario, Vale and surrounding areas in Oregon. Residential home market analysis for July 2006

Owyhee County
Home sale statistics for Grandview, Oreana, Murphy, Silver City and surrounding area Residential home market analysis for July 2006
Payette County
Home sale statistics for Payette, Fruitland, New Plymouth Residential home market analysis for July 2006

Valley County
Home sale statistics for McCall, New Meadows, Donnelly, Tamarack and surrounding area Residential home market analysis for July 2006

Washington County
Home sale statistics for Weiser and surrounding area Residential home market analysis for July 2006
Economic and Market watch reports

Preparing a House to Sell

2006-06-17T22:55:00.000-06:00

Many buyers peruse neighborhoods looking at listed properties from the outside before inquiring with the listing agent to show them the inside. A first impression is hard to shake and if the prospective buyer doesn't like the house from the outside, they probably won't inquire at all. To get them past the front door, you need to add some curb appeal. Here's a list of items that will definitely add value to your home.

Outside Maintenance

Clear your gutters and downspouts of debris (leaves, sticks, etc.) that may block the flow of water from your roof.
Properly grade the area under your downspouts and around your house, so rainwater flows away from your foundation. Splash blocks can help rainwater at downspouts flow in the proper direction. If necessary, add extensions to your downspouts.
Plantings should be set away from the foundation to ensure regular watering does not add to soil moisture around the basement. Lawn sprinklers should not hit the house or the area next to the foundation.
Ensure that landscaping around the foundation (sidewalks, patios, gardens, etc.) starts at 8 inches down from the top of your foundation wall and slopes away from the home. Failure to do so may cause moisture to build up at or around the foundation and promote the environment for mold growth.
Keep mulch, dirt and other landscaping material away from veneer drainage system weep holes commonly found on, but not limited to masonry and stucco homes. The veneer drainage system diverts water away from the interior of the exterior wall system and the weep holes allow the water to escape the wall. If the weep holes are blocked or clogged with debris, mold may form on the interior of the exterior walls. The weep holes are found at the bottom of the finished veneer.
Sidewalks, steps and exterior foundation cracks should be filled or parged to bring up to date.
Caulking around windows, doors, chimney/siding cavity, foundation, and other common leakage points is necessary to prevent any moisture intrusion.

Inside Maintenance

Clean everything in sight. The kitchen, bathroom, bedrooms and general living spaces, and clean/test household appliances and equipment. No matter what physical condition the property is in, it should be clean, tidy and uncluttered.
You want buyers to view your home as their potential home. Therefore put away family photos, sports trophies, collectable items, knick-knacks and souvenirs. Put them in a box or a rented storage area for a few months.
Shampoo rugs and wax floors.
Wash walls and use a broom to clear cobwebs from the corners of rooms and closets.
Wash windows and clean blinds or draperies.
Repair those small things now, like leaky faucets, missing tiles or broken screens.
Replace all burned-out light bulbs.
Properly insulate (12" of blanket or 8" of blown-in insulation) and ventilate the attic of your home.
If you are a smoker, clean, prime and paint any nicotine stained walls and ceilings thoroughly and refrain from smoking in the home.

Basement

Neaten up the basement.
Clean up and correct any water problems in your basement, iincluding upgrading the foundation with a mortar parging at all loose cavities and cracks.
Test sump pump.

The Day of the Showing

Before you leave, turn on all lights, open all curtains and shutters to let in as much light as possible but screen out unappealing views.

Landscaping Improvements Pay Off Big

2006-06-16T16:48:00.000-06:00

Money spent sprucing up the yard with trees, shrubs, lighting, and patios is well spent — especially when it comes time to sell the home, a new study says.
The report, by Arbor National Mortgage, found that 84 percent of real estate professionals believe a house on a treed lot would fetch at least 20 percent more than one on a lot without trees.Another of the company’s surveys suggested that while shelling out for top-of-the line landscaping may only bring in an additional 4 percent to 5 percent, spending minimal amounts has a penalty. Home with average landscaping sell for 20 percent more than homes with just fair landscaping.The American Society of Landscape Architects suggests budgeting 5 percent to 10 percent of a home’s value for its initial landscaping.Before launching into a landscaping project, keep these pointers in mind:
If you can't afford to hire a landscape architect, check out the services offered by nurseries and big-box home improvement retailers, such as Home Depot. Many offer design services — sometimes without charge — if you are buy plants there.
You can save about half the cost of landscaping if you do the work yourself. But keep in mind that large trees are often killed when carried uncovered in the back of the buyer's SUV from the nursery to the house, not because they are planted poorly. Also, most nurseries won't guarantee plants they don't install.
If you're trying to stick to a tight budget, remember that a few larger plants will have a greater visual impact than many small ones.
Before planting trees, determine how large they will become and what leaf pattern will develop. If you plant a big tree too close to the house, the growing roots could cause the foundation to crack. And if you place it too near a sidewalk or driveway, root expansion could cause the pavement to buckle.Source: Orlando Sentinel, Lew Sichelman (6/11/06)

Are Soaring Gas Prices Changing the Way Consumers Search For and Buy Homes?

2006-06-06T22:48:00.000-06:00

70 Percent of Consumers Say the Price of Gasoline Is Now a Consideration When Deciding Where to Live, According to HomePages.com Survey (read more)

8th Annual Komen Boise Race for the Cure®

2006-05-07T17:21:00.000-06:00

Saturday, May 13, 2006, 8 A.M.Albertsons General Office, 250 E. ParkCenter Blvd.Click here for more information.

Sellers Earn 16% More by Using an Agent

2006-05-07T08:24:00.000-06:00

WASHINGTON, D.C. – Technology is transforming how Americans buy and sell homes in unexpected ways, including how they work with real estate agents and brokers, according to one of the largest surveys of real estate consumers ever conducted. The study was released by the National Association of Realtors®. (read More)

Parade of Homes 2006

2006-04-30T08:26:00.000-06:00

Visit the Treasure Valley Parade of homes - April 22 thru May 7th (read More)

National Arbor Day

2006-04-26T07:05:00.000-06:00

On January 4, 1872, Morton first proposed a tree-planting holiday to be called “Arbor Day” at a meeting of the State Board of Agriculture. The date was set for April 10, 1872. Prizes were offered to counties and individuals for planting properly the largest number of trees on that day. It was estimated that more than one million trees were planted in Nebraska on the first Arbor Day.
Arbor Day was officially proclaimed by the young state's Gov. Robert W. Furnas on March 12, 1874, and the day itself was observed April 10, 1874. In 1885, Arbor Day was named a legal holiday in Nebraska and April 22, Morton's birthday, was selected as the date for its permanent observance. (read more)

Bill Gates for President in 2014?

2006-04-22T20:39:00.000-06:00

Sounds strange but what about a guy that knows how to bring the world together instead of tearing in apart.....

Eagle Idaho

2006-04-21T08:04:00.000-06:00

The Boise River is expected to reach flood stage (7,000 CFS) by Thursday, April 20. The City of Eagle has been monitoring the rising water and are working with the various home owner associations in the low-lying areas around Eagle Island. If you live in one of these areas and want more information, contact your Home Owner Association or any of the various City of Eagle resources here.

Warm Lake Lodge for sale

2006-04-14T08:24:00.000-06:00

Warm Lake Lodge and Resort, located 26 miles east of Cascade, Idaho, has been in continuous operation since 1911, and is now on the Boise National Forest. Traditionally, it has, and continues to provide a warm and relaxed atmosphere for hunters, fishermen, and recreational vacationers in the heart of Idaho's back- country, and remains open year round for diversified all season fun. read more

NAR: Housing Market to Stay on High Plateau

2006-04-11T11:29:00.000-06:00

(April 11, 2006) -- Home sales should generally level out and remain at historically high levels, according to the NATIONAL ASSOCIATION OF REALTORS®.

David Lereah, NAR’s chief economist, says mortgage interest rates are trending up but will remain favorable. “Economic growth and job creation are providing a favorable backdrop for the housing market, but rising interest rates have an offsetting effect,” Lereah says. “Home sales will move up and down somewhat over the remainder of the year but stay at a high plateau, meaning this will be the third strongest year on record.”

Lereah expects the 30-year fixed-rate mortgage to rise to 6.9 percent by the end of the year.

Growth in the U.S. gross domestic product is forecast at 3.7 percent in 2006, while the unemployment rate should average 4.8 percent.

Existing-home sales are projected to drop 6.0 percent to 6.65 million this year from a record 7.08 million in 2005. New-home sales are likely fall 10.9 percent to 1.14 million from the record 1.28 million last year — both sectors would see the third best year following 2005 and 2004. Housing starts are forecast at 2.00 million in 2006, which is 3.2 percent below the 2.07 million in total starts last year.

NAR President Thomas M. Stevens from Vienna, Va., says home prices are expected to cool, but not as much as in earlier projections. “Although housing inventories have been improving, the balance is still a bit more favorable for sellers and annual appreciation remains in double-digit territory,” says Stevens, senior vice president of NRT Inc. “Even so, the market is in a process of normalization — appreciation will return to normal single-digit patterns, providing solid investment returns into the future.”

The national median existing-home price for all housing types is likely to increase 6.4 percent this year to $221,700, while the median new-home price is expected to rise 2.3 percent to $242,700.

Inflation as measured by the Consumer Price Index is seen at 3.4 percent in 2006. Inflation-adjusted disposable personal income should grow 3.8 percent this year.— NAR

For sale 1202 Sandy Court

2006-02-06T09:02:00.000-07:00

MLS # 98231690 For Sale - $759,000.00 Elegant and spectacular views of the valley, just overlooking Eagle Island State park. Rim views on a cul-de-sac street. Large luxury home with over an acre and a half of manicured lawn and trees. The back yard reveals a swimming pool with views of the mountains and valley.
When looking down the back of the property you will notice an area that out buildings can be placed for horses. Special features included: Full auto sprinklers, fully fenced back yard, privacy bushes to enjoy the pool, alarm system, large garage with indoor RV parking, separate apartment will handicap access. Shop and storage, with rear garage door to allow for access to mowing equipment. Wrought iron dog kennel

Media Myths: The Housing Bubble is Bursting

2005-12-25T11:14:00.000-07:00

Media claims about a “housing bubble” are nothing new. Since before the 9/11 terror attacks, the media have been calling the housing market a “bubble” while predicting an imminent, devastating decline. Not only have they been wrong in forecasting such a top, they have thoroughly mischaracterized what an investment bubble is. Now that the market for homes has finally slowed a bit, the media are declaring the bubble has burst.
• A Bubble?: Fed Chairman Alan Greenspan has denied the existence of a national housing bubble for several years, but the media have used the term repeatedly. • Strong Gains: The increase in real estate values the past five years has not resembled the rapid rise typically seen in a bubble. In 2000, the national median existing-home value was $139,000. This grew to $215,900 by the third quarter of 2005 – a 55-percent nominal increase but a 34-percent inflation-adjusted gain. • Home Sales Still Going Up: New home sales jumped another 13 percent in October. While sales of existing homes were down 2.7 percent from September, the median national price rose to $218,000, a 16.6 percent increase since October 2004.

Relocation to Idaho

2005-12-18T09:24:00.000-07:00

If you are relocating to Idaho, give me your needs and wants.

Using your IRA to buy income and Investment property

2005-12-18T09:18:00.000-07:00

Did you know that you can use your IRA retirement account to purchase real estate? The income properties can not be a primary residence and must be non owner occupied.

For Rent 8521 W. Marigold, Boise Idaho

2005-10-17T18:55:00.000-06:00

Completely remodeled home for rent - 3 bedroom 1 bath, Fenced yard, auto Sprinklers, just a block from the Boise Green Belt. $800.00 Month with $700.00 deposit

Boise Bench Home for rent

2005-10-17T18:53:00.000-06:00

For Rent $750.00 Month "Boise Bench" 2 Bed 1 bath, 768 Square Foot - $750 Month $700.00 Deposit. Great Depot Bench Location 5 blocks from the greenbelt. Sparkles Like New with a North End feel. Huge shade trees and fully fenced yard on this fantastic corner lot. Very Cute and Clean! Large patio for entertaining, wired for Hot Tub.

What properties do I search for in Boise Idaho

2005-09-24T10:03:00.000-06:00

Locating the right property for investment purposes is a matter of knowing what has been sold, and where are the heavy investor locations. Many of the locations in Southwest Idaho have been heavily sought after by out of state investment seekers. These areas are all but large "for rent" subdivisions. I work with a great deal of investors and home buyers, my goal is to find them properties that are a good mix of area, rentability and nice neighborhoods.

Post Your Real Estate wants and Needs

2005-09-23T14:49:00.000-06:00

Place your wants and needs for your searches, any discussions on the types of properties and homestyles, prices and more!

Welcome

2005-09-23T13:43:00.000-06:00

This is my first posting, Boise Idaho weather is just great. Temps are in the 70's with a slight breeze. Let me know if I can assist your real estate investment or relocation needs in Southern Idaho.