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Don’t let the title worry you, there’s no diving going on! The crisis is over (for now) and the deal has been hammered out to side-step the looming fiscal cliff recently and even though the dust has barely settled the changes have made many winners and losers. For now however most experts agree that the real estate industry is most definitely on the winning side and should continue recovering in 2013.
In part this is due to the mortgage interest deduction and the one year tax break on mortgage debt forgiveness being protected in the new deal; this should allow homeowners who are refinancing or struggling to get a little relief. These changes are hoped to also help continue clearing out much of the foreclosure real estate “shadow inventory” as well.
“An extension of the tax break is positive for home values by reducing the number of foreclosures and helping more troubled borrowers stay in their homes,” wrote Jaret Seiberg of Guggenheim Partners. “That means less supply on the market.”
Consider also how the real estate market was bolstered by the surge in short sales during the last quarter – more than 90,000 short sales were completed – thanks to streamlined procedures and a more aggressive stand by big banks.
All of these contribute to positive signs ahead for real estate in Idaho for 2013, as we have already been fortunate to inch past many of the difficulties other areas of the nation could not escape. The new year is an exciting place to be; we’re excited at the prospect of being able to help people find the right homes for them this year as well as helping home sellers in Idaho benefit from the return of the market.
With great numbers being posted for the last quarter of 2012, real estate in Idaho is poised to get off to a running start in 2013.For the first time in nearly half a decade the year over year price of homes has increased in Idaho, helping to place it among some of the most recovered real estate markets in the country. In addition our beautiful state has also seen a 50% reduction in foreclosed properties on the market in the last year.
Other great reasons you may want to consider the Gem State? Boise was ranked in several prominent Top Ten lists this year including top places to retire, top places to raise a family, and it also received an A+ rating for small businesses. All these things coupled with the sheer natural beauty of the environment – offering numerous recreational opportunities year round – as well as a diverse cultural community make Southwest Idaho a great place to consider when planning your next move.
If you are looking to retire in Boise or relocate to Idaho our team of qualified REALTORS are ready to put their years of real estate experience to work for you. Visit our website to start finding the homes you want now, or contact our agents to start working with a skilled real estate professional.
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!
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!