Considering we sell real estate as part of our jobs it may seem sort of strange that we even propose this question. Shouldn’t we be encouraging people to buy buy buy while the Boise real estate market is hot hot hot? Well…that might be how others go about it, but it’s not us. We want you to be happy where you are. If possible, yes we’d love for that to be in a home we sold you, but if not we want you to know there are alternatives to packing it all up and finding a new place. Even if you just make these improvements to temporarily better your living environment while you search for homes, we’re confident that they will enrich your home and mood.
It’s a fairly common thing, you’ve lived in your home for some years and either your lifestyle has changed, the kids have moved out or grown up, or maybe you’re just tired of the same old thing. You look around and simply need more space, or realize there’s just no way to reconfigure the floor plan without major changes. Whatever the case your long term plan didn’t include any of these things when you first set out; now it’s time to decide what to do in order to get it the way you want.
If you’re not sold on moving yet, consider revamping some of your living spaces. While not all home improvements are equal there are some that will add value to your home over others. A good place you can almost always regain value is by upping your curb appeal.
Small remodel projects can make your home like a new place. Especially if you are getting that new big tub in the master bath or some other luxury you’ve always wanted as part of the deal. Small remodels are a great way to sate the need for change without the cost of a new home.
Color Your World
Repainting can really change the entire mood of your home. Consider a fresh coat in rooms that need a re-do; think about moving the furniture – or even getting new furniture – to turn those rooms around.
It’s not a sin to up the ante and do a serious full remodel of your home. If you love the area, don’t want to move, and have the budget a remodel may provide you with the best of both worlds.
Maybe there is nothing to be done. Maybe it simply won’t work – you need more room, or less room – and have to make the move.
If that time has come we’re here to help! The real estate market in Idaho is really moving; we’re seeing homes moving quickly – and even multiple offers! Given the limited number of homes for sale that might suit your needs it’s always a good idea to work with a qualified Idaho REALTOR® when the time comes.
It’s easy to find great homes in Boise and the surrounding Treasure Valley. The best place to start is right on our website! Find homes for sale anywhere in Southwest Idaho with just a few clicks!
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!
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.