There’s always a lot of chatter about the real estate industry; as it influences such a large part of our economy that’s really no surprise. Currently there are many saying the housing recovery movement is in full swing; likewise many warn with words of caution that we’re headed for another bubble burst. Yet others remain inclimate by saying a housing slow down is imminent and not to get too all fired up either way. While there are a number of factors yet to weigh in, the year is after all still barely started, there are some myths making their rounds that simply must be dispelled.
Real Estate is Only for the long term.
Realistically house prices today are still roughly where they’ve been since the 1950’s, aside from a few booms here and there, according to the Case-Shiller Home Price Index. If that is true – and on average home values only appreciate on average 3% per year – then that’s pretty slow growth; you won’t make as much money over the long term. For those looking to make quick gains buying, improving, and reselling are fast turn around markets. So in truth real estate for your average long term buyer is a sound investment because of it’s stability, but there is also room there for the fast and furious flipper as well.
The Suburbs are out.
Many census statistics from last year would have us thinking that for the first time in decades that cities were the place to be. Population will naturally be more dense in urban cores; this is what the higher growth rates can be attributed to. More recent and accurate studies have since been done, taking that factor into consideration, to find that growth in the suburban communities to be nearly 1% higher than in urban cores. What’s more the suburbs are changing, becoming little mini-cores of commerce and culture all their own, making them very attractive for those who prefer a little less hustle and bustle.
It’s a Renters Market.
No way no how. A recent survey found that 96% of American consumers consider home ownership important. 77% of people between the ages of 25 and 44 are also saying that owning a home is “very important” to them too. Trulia data shows 93% of Millennials who currently rent plant to buy a home in the near future – some as soon as in the next two years.
Buying is Always Better.
It’s true that buying a home has become more affordable than renting in most major cities, under certain circumstances. And if you’re looking to lay down roots in the community by staying put for more than five years, then buying is without a doubt the way you want to go. But fact is, if you’re not sure about the future, if it may likely involve big plans to move it may not be the best time for you to buy. It all depends on your personal plans and what your situation may be – the best place to start is to talk to a qualified REALTOR®.
Hopefully this information has helped you understand a bit more about the real estate market, and has dispelled some of the myths going around the industry today. Want to stay up on all the latest Boise real estate news and local info? Visit our Facebook Fan Page!
Even with the amazing amounts of information online today regarding real estate, buying and selling homes, and market conditions real estate is still a complex industry; it is imperative to make sure you are not attempting to go it alone.
It is crucial to find an honest, competent, agent who will represent your best interests throughout the entire process.
We could easily just say here are our extremely qualified Idaho REALTORS® of course – and you’d be hard pressed to find a more dedicate group of real estate professionals! – but here are some good things to keep in mind no matter which brokerage you choose:
Despite huge amounts of on-going education, like many industries, agents in real estate simply will not know how to deal with unusual situations without some experience. Therefore having an agent that has been out working in the market for a little while is only to your advantage. All real estate transactions are complex so having one that has been through the process itself numerous times is a real asset – be sure to ask your prospective agent how many transactions they’ve closed in the last year; ask about their general amount of time in the industry.
Real estate agents often have to handle multiple clients and offer scenarios at once. It is important that while you want an experienced agent that you don’t pick one that simply may have “too much going on” to help you with your needs. Especially if you are a first time buyer or seller it is important your chosen agent be able to spend a little extra time with you, educating you about the transaction process.
Not just knowledge about the type of house you want to buy, but also the info on the kinds of amenities in the area, schools, and what things are important to the way of life you are looking to lead. An agent knowledge should extend well beyond just the correct procedures in negotiating and shuffling papers. Make sure you work with an agent that knows the area!
So do some homework before you settle on an agent. Remember, chances are your home will be the biggest financial decision you make in your entire life. Having a qualified professional to help you navigate through the transaction will be absolutely necessary for success. Beyond that, trust your gut. Make sure the agent you select is someone you can trust and who you feel will be great at providing you with just the right service!
Home prices in Idaho are going up, while mortgage rates remain steady at historic lows – but who is buying real estate? More than ever before, two-income married couples are behind the drive in the home buying market. With Boise being the focus of a number of great Top Ten placements in news articles across the country this year, it’s no wonder so many people are interested in relocating to the Gem State.
Here are a few more interesting facts about the real estate market in 2012:
39 percent of recent home buyers were first-time buyers, a slight rise from 2011, but closer to the historical norm of 40 percent.
65 percent of recent home buyers were married couples—the highest share since 2001. Conversely there was the lowest share of single buyers since 2001.
For 52 percent of home buyers, the first step in the home-buying process was taken online.
The typical home buyer searched for 12 weeks and viewed 10 homes—a decline from 12 homes in prior year, which speaks to the tightened inventory in many areas.
89 percent of buyers purchased their home through a real estate agent or broker, similar to last year’s report—a share that steadily increased from 69 percent in 2001.
88 percent of sellers were assisted by a real estate agent when selling their home.
Only 9 percent of recent sellers sold via FSBO sale. Among FSBO sellers who did not know the buyer prior to the sale—20 percent sold via FSBO because the buyer directly contacted them.
Approximately two-thirds of home sellers only contacted one agent before selecting the one to assist with their home sale.
Are you looking to buy or sell a home in Idaho? RE/MAX Elite Properties can help you find the perfect place for you! Whether you want a cozy Northend home in Boise or are looking for a sprawling ranch in Canyon County, our team of experienced Idaho REALTORS® are at your beck and call to make it happen!
Routine maintenance is just part of protecting the investment that is your home. It can be hard to know exactly what to do and when – often leaving things to go unfixed until they are broken.These tips can help you not only prevent costly repairs before they become a problem but can also help you run your home more efficiently; save you money on your monthly bills.
Inspect the exterior of your home annually:
Check the foundation for signs of cracks.
Check the weather stripping around doors and windows.
Check for holes in the siding.
Check for water in the crawlspace and attic.
Check paint for peeling,fading, or blistering.
Drain and shut off outside faucets.
Blow out sprinkler lines.
Clean gutters and downspouts.
Clean leaves and mulch from under eaves – also especially from around foundation walls.
Have your chimney cleaned.
Other good ideas:
Drain a galloon from your hot water heater twice a year to extend it’s life.
Check faucets for drips as well as other plumbing at least once a month.
Check your dryer vent and stove hood monthly and clean as needed.
Inspect and repair any tile grout every six month.
Change the batteries in your smoke alarms twice a year.
We’re about more than just finding homes! We want to help make you comfortable and happy in your home long after the sale has closed. Be sure to visit our Facebook Fan Page for more tips like these as well as great local Boise information and news!
Home buyers can be quick to judge, and your first impression may very well be your only impression – so curb appeal is a very important factor in getting your home sold. It’s pretty standard policy for real estate agents to suggest homeowners keep up on the yard work, trimming the trees, and making the home look as presentable as possible, there are still some smaller details that might not make the list.
We’ve talked with some home staging experts to get their take on what makes for an appealing home and have put these tips together to help you get your home looking it’s best for buyers.
Start at the Front door
Your front door is often the focal point of drive-by buyers. Replacing an old out of style door with a new one can be fairly cost effective; has been rated among the biggest bangs for your buck when it comes to quick fixes for home appeal. Sometimes your existing door just needs a fresh coat of paint, but don’t go crazy – a wild color choice could sabotage the whole effect. Look into possibly just changing the fixtures also as updated hardware can really turn a door from blab to fab.
Yes You SHOULD Do Windows
Washing the windows of your home inside and out is a good start. Seeing your home every day can kind of make these small detail blend into the background but as the eyes are windows to the soul, so windows themselves are to the spirit of your home. New shutters or window planters might also be a nice option depending on your style of home.
Kick the Dogs Off the Front Porch
Don’t be quick to discount this part of your home as just the place between the curb and the door. With new home trends available outdoor living spaces are all the rage; it’s important to make these spaces as inviting as the rest of your home because they can be real extra selling points.
Rock the Garage
Often this will be the biggest part of the front of your house, so make sure it looks it’s best. Replace or repair a door that is damaged in any way, or give it a fresh coat of paint. This is another place that value outweighs cost when it comes to improving your home. Have any oil stains or other damage to the garage floor also repaired. If your walls are unfinished sheet rock go ahead and give them a paint as well.
Don’t be afraid of the dark
Curb appeal isn’t just for daytime. As a lot of home buyers work regular day jobs it’s frequent that you will get interested parties doing a quick drive past in the evening time. Adding path lighting or exterior lights to showcase the front of your home can be fairly inexpensive and really make a big difference at night. Leave more interior lights on than you normally might, especially towards the front of the home as it will give a nice warm glow from the exterior.
Do you need to sell your home in Idaho or do looking to buy a home? we can help! Our team of experience real estate professionals know the market here in Idaho; can help you regardless of what your needs may be. Visit our real estate website to start searching now and feel free to LIKE our fan page on Facebook to stay up on the latest Idaho real estate news and more!
There are a number of great homes for sale in the Treasure Valley these days! A lot of agents and news sources will tell you that the inventory is going down – which it is, there are fewer homes on the market right now – and that prices are going up (also true!), but that doesn’t mean that there aren’t still some really amazing deals on the market!
Home mortgage rates are at historic lows; that makes this an exceptional time to buy real estate in Idaho! We’re just getting our new blog rolled out but in the meantime you can view some of the newest homes on the market at our main website: