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!
Completely renovated home! New roof! New windows! Features 5 bedrooms, one that be perfect for a home office.
Family room, living rm and separate bonus room that would be perfect for a theater rm. Two fireplaces. Kitchen with full granite counter tops and tile back-splash. New appliances. New landscape. This newly remodeled home is a must see to appreciated all the upgrades. Including tile, carpets and cabinetry. RV Parking. Excellent location, with easy access to schools, shopping, dining and hospitals.
Are you looking for homes in Idaho? Maybe you need to sell your current home first? Either way, our elite real estate agents can help you! Visit our site and contact us to get started today!!
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.
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: