Category Archives: home selling

feb 2011 market stats – stagnant we are not.

Residential property exchange is an emotionally loaded transaction.  I equate it to selling your first bike, that scratched up ‘The Wall’ album, or shopping for a wedding dress, your first marathon shoes, or THE backpack for a trip to Europe.

The statistics for last month couldn’t exemplify this more.  The amount of listings are down substantially year over year, but sold transactions are UP.   The recession weary have decided to sell their starter home and purchase more square footage so they may grow their family or purchase closer to work and clientele in order to ride the cruiser bike equipped with saddlebags and coffee mug holder to meetings.  Empty nest-ers are selling the extra square footage and purchasing close to where they spend spare time.

Real Estate Brokers and their sellers are partnering to take great care in preparing their homes for sale, creating a sense of place for the next generation.  ‘Window dressing’ your home, making it look, smell, and feel like a new home for a new owner is vital in the market success.  Here’s a blog for 8 quick fixes to help you get your home ready to show.

Lives continue to be lived.  Stagnant we are not.


jan 2011 market stats

Cruising through the January 2011 Market Stats for Ada County I found our overall supply is down to 5.24 months supply for homes under 500K.  If you’re a seller in this price range, define this as a broad view of good news.  An average, healthy market is 6 months supply, meaning the market is low in supply for homes under 500K.

Please take note, average price of homes sold is still down from December 2010 and year over year.

Now, if your a buyer and have 500K and upwards of a cool Mill you need to put somewhere, it’s time to buy in Boise, Idaho.  There is a beautiful inventory to choose from and you’ll have the market negotiating power.


SOLD – 2315 N 22nd Street, Boise, Idaho $195,100

Boise North End Living

Beautiful Neo-Classical Bungalow sporting two (2) bedrooms, flex space, two (2) car garage and private West patio retreat. This and steps from all Boise North End!  Click here for a virtual tour.


dec 2010 market stats for ada and canyon counties

Finally getting December 2010 Market Stats for Ada and Canyon Counties in Idaho posted on the blog.  A good indicator that I was behind, the neighbors are taking down their Christmas lights today.

The aggregated data shows inventory is down, sold homes are up from last year at the same time and available homes on market equal a 5.5 month supply.

Buyers are now having a difficult time purchasing at their leisure.  When a desirable home hits the market, competing offers are the norm.  Sellers know though, you must still appraise and buyers are still negotiating low and prices are at considerable lower threshold than those in the beginning of 2009.

Sellers and potential sellers, there is a shadow market out there.  Shadow markets consist of homes not yet on the market but will come in waves from a variety of sources; banks and investors to name a few.  If you’re thinking of waiting to market in the Spring for a higher price, data suggests you will have extra competition.  Sell now if you’re ready, willing, and able.


everything and in Boise’s North End Neighborhood

At the risk of sounding like a sales person – oh wait, I am a sales person for Group One – I have to share with you this home listed by fellow agent/broker Alfie LaPeter with Cityburb.com. This rare estate boasts a 1980 square foot Bungalow style home in Boise’s North End Neighborhood with a 168 square foot office outbuilding including a half bath, 960 square foot shop with loft, and perfect garden space all on a .30 corner acre in Boise City!!! All of this for $289,975! Let me know if you would like to check it out as it’s vacant and ready to show. As always, Buyer to Verify All Information.


being in the middle isn’t always bad…

Take a look at the February 2010 Ada County Market Stats. Based on current inventory levels and closings in the last twelve months, the price range in the Boise Metropolitan area with the lowest backlog of listings is between $300,000 – 349,000.

There are a couple of interesting hypothesis about why this is fact. Homes in this price range tend to have three attributes that I look for in a home for my clients to live and invest: Location x3, Functionality for the Masses, and Respected Residence.

The location of a home, including all the factors that are attached to the location of a home, is HIGHLY rated in retaining home value, no matter what type of economic environment. Whether the home is in the desired school district, livable neighborhood, or the lot has a view (including but not limited to a stable foundation) location is a strong emotional draw to all buyers. Desirable location is different for everyone, but it’s clear where the masses are drawn by the number of marketable homes.

Since indoor plumbing was invented, it’s a well known fact that much time is spent in bathrooms since we’ve moved from the outhouse. Home owners valued mid-range for our area make a conscious effort to incorporate functional bathrooms (notice ‘bathrooms’ is plural) in their living space, therefore attracting a larger demographic to their home when marketing for sale.

Last but not least, those who respect their residence by taking great care to complete seasonal chores, bandage woodworking, repair broken fixtures, and paint when necessary to abate any water damage will also be rewarded to a higher price per square foot.

If you have any questions to what “Honey Dues” are important to retain and even grow the value you of your most prized asset, please don’t hesitate to share!


daily dilemma

I’m excited to say, that this June will be my 5th anniversary as a real estate professional! Every real estate transaction I have represented in the past four and a half years, I have acquired more knowledge about the trading of real estate I could have ever envisioned while taking the Idaho State exams and, most of all, realized I will never know in my lifetime everything there is to know about the exchange of real property between a buyer and seller.

You see, the buying and the selling of real estate is personal, emotional, and, most certainly, the largest purchase most people will make in their entire life. People have an attachment to where they choose to spend their time drinking coffee and reading the Sunday edition of The New York Times, where they share holiday dinners, and where they hide and cry when times are little tough. Home is where the heart is as well as where our stuff is: mountain bikes, yoga mats, favorite chair, K-9 friend.

I get this! I get that one needs to have unconditional trust in the person advocating for them while negotiating at the proverbial chess table, selling their house for good market value or help them purchase a home on a sturdy foundation, minus the gaping leaky roof and black mold, while YOU are working for the man so you can put a roof over your family’s head without skipping a beat. Just like any other profession, the goal to assist in the exchanging of real property between two entities has been lost on many and the paycheck is forefront, sometimes the only front, on the professional’s mind.

As agents, we are held to an ethical standard that is unsurpassed by most professions outside of medicine. My question to most of my close friends when we get in discussions about their past real estate experiences, most fair to midland, is “did you know you have advocates that will hear your story and take action where action is due?”. The standard answer is “no, what do you mean”? I then proceed to demonstrate how to get in touch with the association and who they need to contact so their story can be heard. They are always thankful for the transparency and the integrity I hold for myself, my profession, and the other people involved.

I have had the opportunity to talk with the administration of the ethics complaint department recently. By the numbers, complaints are up. Sales professionals and Brokers are finding the time to gather their cases and submit them for review. Outside of the industry complaints though, customer and client submissions are exponentially UP! THANK YOU! Thank you to agents educating their friends, family, and their mother’s uncle that they have somewhere to go when they have been wronged by a real estate professional.

I wake up daily with a positive outlook on the life I create and live, a large part being my career in real estate. The days don’t always end on as sharp a note as they start, but that doesn’t keep me from representing my community the best way I know how everyday. I thank my loved ones, acquaintances, industry cohorts and community for continuing to make our Boise community the best place to live.


sell / rent / buy

It’s always one of these, in terms of ‘what kind of market’ it is depending on who you talk to, should I sell, rent, buy–I’m so confused!! One thing is very clear this year, if you have saved your pennies, you have a good job and would like to quit paying your landlord’s mortgage so you can be the one the reap the benefits of property ownership, THIS IS YOUR YEAR. Take a look at a writer for the Wall Street Journal, June Fletcher, reasons to Buy or Not to buy and decide for yourself.
Tina


8 Quick Fixes to Increase You Home’s Value


With buyers scarcer, sellers must up the ante to convince them that their property offers what many want most — top value for dollar expended. Here are eight fast fixes:

1. Buff up curb appeal. You’ve heard it before, but it’s critical to get buyers to want to look on the inside. Be objective. View listings from the street. Check the condition of the landscaping, paint, roof, shutters, front door, knocker, windows, house number, and even how window treatments look from the outside. Add something special—such as big flower pots or an antique bench — to help viewers remember house A from B.

2. Enrich with color. Paint’s cheap, but forget the adage that it must be white or neutral. Just don’t get too avant-garde with jarring pinks, oranges, and purples. Recommend soft colors that say “welcome,” lead the eye from room to room, and flatter skin tones. Think soft yellows and pale greens. Tint ceilings a lighter shade.

3. Upgrade the kitchen and bathroom. These make-or-break rooms can spur a sale. But besides making each squeaky clean and clutter-free, update the pulls, sinks, and faucets. In a kitchen, add one cool appliance, such as an espresso maker. In the bathroom, hang a flat-screen TV to mimic a hotel. Room service, anyone?

4. Add old-world patina. Make Andrea Palladio proud. Install crown molding at least six to nine inches in depth, proportional to the room’s size, and architecturally compatible. For ceilings nine feet high or higher, add dentil detailing, small tooth-shaped blocks used as a repeating ornament. It’s all in the details, after all.

5. Screen hardwood floors. Buyers favor wood over carpet, but refinishing is costly and time-consuming. Screening cuts dust, time, and expense. What it entails: a light sanding, not a full stripping of color or polyurethane, then a coat of finish.

6. Clean out, organize closets. Get sorting—organize your piles into “don’t need,” “haven’t worn,” and “keep.” Closets must be only half-full so buyers can visualize fitting their stuff in.

7. Update window treatments. Buyers want light and views, not dated, fancy-schmancy drapes that darken. To diffuse light and add privacy, consider energy-efficient shades and blinds.

8. Hire a home inspector. Do a preemptive strike, since busy home owners seek maintenance-free living. Fix problems before you list the home and then display receipts and wait for buyers to offer kudos to sellers for being so responsible.

Sources: Ernie Roth, Roth Interiors, Los Angeles; Angel Petragallo, abr, Group One, Boise, Idaho; Melissa Galt, Galt Interiors, Atlanta; Steve Kleiman, CEO, Oakington Realty, Houston; Sid Davis, Sid Davis & Associates, Farmington, Utah, and author of First-Time Homeowners’ Survival Guide (Amacom, 2007); Steve Hochman, Friendly Note Buyers, Roxbury, N.Y.; Margi Kyle, designer and spokesperson for Hunter Douglas.


Interesting!

Closed Sales for March 2008 only down 5% compared to 2007.

With all the doom and gloom press, it’s difficult for Buyers and Sellers to realize that we can and will make it through this housing price adjustment.

If you have any questions about Boise area market statistics, you know where to find me.


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