Tuesday, October 31, 2017

Large Home Built Into The Hillside

Large foothills home located at 5320 W Hill Rd in Boise, built into the hillside on a bigger lot which allows for views of the horizon and added privacy. The interior has fresh paint, new carpet & electrical fixtures throughout. Elementary schools, park & foothills trails are within walking distance. Enjoy ample natural lighting, at the same time being shaded by over 30 mature trees. Vinyl windows, newer efficient central air, large living room w/fireplace & big treetop window, huge family/rec home, redwood deck & terraced back yard.

You can also learn more about us at lowesflatfee.com.  

Saturday, October 28, 2017

October 2017 PTC Index

September marks the end of the prime purchase and sale months and brings with it an expected lull as we head into the fall and winter seasons. However, at 304 points, the latest PTC Index still shows a relatively strong September compared to past years which could signal a comparatively healthy 4th calendar quarter. 

The biggest decline we see is building permits falling about 40 percent from the month prior. Existing home sales followed suit with a 10 percent decline but still up five percent from September 2016. New home sales held steady, up 11 percent from a year ago while refinances fell just slightly by five percent. The average Treasure Valley sales price also remained relatively unchanged, settling at $260,122; the average sales price has sporadically climbed and dropped throughout the year but is still well above a 2017 average of roughly $250,000. Finally, it appears that we are still experiencing constrained inventories as the average DOM fell to 32 days which reinforces our expectations of above-average activity heading into October and November

The PTC Index is a monthly measurement of the vibrancy of the Treasure Valley real estate market. Based on a custom weighted algorithm, it combines nine critical measurements of the real estate market into a single, useful number: the PTC Index. To give you some perspective, when the market was at its most active point in 2005, the PTC Index average would have been 225. In January of 2010 we reached a low of 28. Though times have changed, the need for this data is greater than ever.

Story taken from Pioneer Title Company.

Thursday, October 26, 2017

4 Reasons To Buy A Home This Fall!

Here are four great reasons to consider buying a home today, instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year.
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage 

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.
Are you ready to put your housing cost to work for you?

4. It’s Time to Move on With Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If purchasing a home for you and your family is the right thing for you to do this year, buying sooner rather than later could lead to substantial savings.

Story Taken From "Keeping Current Matters".

Tuesday, October 24, 2017

Fast-Moving Housing Market Continues to be Driven by Demand

Despite rising home prices, today’s housing market doesn’t have much else in common with the market we saw prior to the recession.
The Boise Region’s housing market is being driven by real home buyer demand, not speculation, which was common a decade ago. And as we’ve mentioned before, the increase in demand and lack of inventory has pushed up home prices.
That demand for housing can be seen in the data (real or speculative) by looking at the Days on Market.
Days on Market metric (or DOM) counts the average number of days between when a property was listed and when an offer was accepted.
For example, in Ada County, home sales that closed in September spent an average of 32 days on the market before going under contract, 23.8% faster than in September 2016.
DOM doesn’t factor in the time between accepting an offer and closing (which can vary based on the time it takes to complete home inspections, repairs, financing, etc.), so it is a good indicator of the demand for housing, and how quickly sellers find buyers.
DOM is seasonal, meaning homes generally go under contract faster in the spring and summer and slower in the fall and winter. To see the overall trend, we used a 12-month rolling average to remove seasonality. Based on those figures, DOM for Ada County has been trending down since 2009, and since 2014, DOM has been tracking closely with falling inventory.

Prior to the recession, Canyon County saw a similar trend with shorter average DOM despite plenty of inventory to meet demand. Since late 2013, DOM has been tracking closely with inventory, indicating increasing demand as inventory drops.
While that historical comparison is another helpful distinction between today’s market and the pre-recession market, it’s not much consolation for today’s buyers who are often required to make quick decisions because of limited inventory. Unless there is a sudden influx of inventory or a quick drop in demand, we expect the market to continue to move quickly, even if we see some slight increases in Days on Market through the winter.
Additional information about trends within each county, by price point, by existing and new construction, and by neighborhood, are now available in the September 2017 Market Report. This report includes an explanation of the metrics and notes on data sources and methodology.

This report is provided Boise Regional REALTORS® (BRR).

Thursday, October 19, 2017

Charming Bungalow

Charming bungalow just minutes from the Greenbelt, located at 4465 N Adams St. in Garden City. 2 bedroom, 1 bath, large utility room, attic and outside storage shed. New tile work in kitchen and bathroom, new bathtub. Red fir hardwood floors in the living room and bedrooms. Large wood and brick porch, fruit trees in the yard. Just a 20 minute bike to the center of downtown Boise via the Greenbelt. Property sold "as-is".

You can also learn more about us at lowesflatfee.com.  

Wednesday, October 18, 2017

Fully Landscaped & Great Location

Located at 15359 Pineview St. in Rathdrum. Oak cabinets, accented ceilings, rock fireplace, natural gas, central AC, hot tub, bonus room, large master bedroom, fully landscaped with sprinklers, drip system, lighting exterior, schools are 1 block away, private fenced back yard, natural gas on back deck for a continuous barbecue.

You can also learn more about us at lowesflatfee.com.  

Friday, October 13, 2017

America Needs Your House!!!

The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added):

Mark Fleming, First American’s Chief Economist

“The underlying fundamental issue is an overwhelming lack of supply… The supply of newly constructed homes is also sagging, adding to the supply challenges. Over the last eight years, housing demand has increased by 5.9 million, but the net new number of housing units has only increased by 3.5 million.”

Svenja Gudell, Zillow’s Chief Economist

“Everyone has been talking about tight inventory but I think we are OK calling it a straight up inventory crisis at this point. We just don’t have enough homes.”

Sean Becketti, Freddie Mac’s Chief Economist

“House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust. The spoiler is the lean inventory of houses for sale.”

Lawrence Yun, National Association of Realtors’ Chief Economist

“Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.”

Bottom Line

If you are considering selling your house soon, now may be the time to get it on the market. The lack of competition could lead to a faster sale at a higher price.

Completely Refurbished Home!

Completely refurbished home located at 1050 N Harrison in Pocatello! NEW Electric baseboard heat, NEW Stainless Steel Appliances, NEW brushed nickel fixtures throughout the home! New windows! Never been lived in since remodel! Spacious walk-in closet in Master bedroom. Large laundry room with lots of windows. NEW doors, NEW beautiful laminate flooring, NEW paint, NEW cabinets. The whole interior is BRAND NEW! Exterior was just finished!!! Covered porch! Fully fenced yard for kids and pets!

You can also learn more about us at lowesflatfee.com.  

Wednesday, October 11, 2017

How Your Home’s Value Grows Your Family’s Wealth

Over the next five years, home prices are expected to appreciate 3.64% per year on average and to grow by 18.4% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. 
So, what does this mean for homeowners and their equity position?
As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?
How Your Home’s Value Grows Your Family’s Wealth | Keeping Current Matters
Since the experts predict that home prices will increase by 5.0% this year alone, the young homeowners will have gained $12,500 in equity in just one year.
Over a five-year period, their equity will increase by nearly $49,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

Bottom Line

Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!

Story Taken from "Keeping Current Matters".

Monday, October 9, 2017

How To Get The Most From Your Home Insurance Claims

No one ever wants to need to use their home insurance policies. They purchase a policy because it’s necessary and it’s a smart thing to have in case of emergency or accident, but no one ever wants a situation to arise where they’ll actually have to use it. Most insurance companies, however, will do everything they can to cut corners and not pay your claims and cover what they should. They often prolong the process, and as a result, only 10%-20% of homeowners actually follow through with claims they’ve filed with their home insurance companies. One main reason for this is emotionally based. If a tree falls on your home and damages the roof and ceiling during a storm, you’ll want to have it fixed immediately. So, instead of waiting a lengthy amount of time for your insurance agent to follow through, often you’ll decide to handle the issue yourself and then end up with a hefty bill. This isn’t the way that it should be.

Review your coverage

When you purchase a home insurance policy, make sure that you go over it and understand it before purchasing it. A lot of insurance policies are purposely vague, so you really don’t have a good idea of what you’re purchasing and what’s covered. You want to make sure that the things that may become issues for you are actually covered. For example, if you live in an area with heavy winds, but don’t have any wind damage coverage, you’ll have to foot the bill in the event of a wind storm blowing your fence away.

Take photos and videos

Photographic proof is going to be one of the easiest ways to backup your damage claims. When you move into a new home, take pictures of anything that could incur damage. Ceilings, roofs, fences, windows, etc. This way, when damage occurs, you have proof that it wasn’t always damaged.

Temporary repairs

Some insurance companies will dismiss your claims as a result of them waiting too long. If a window is broken or roof damaged, you should get a temporary solution and save your receipts.

Don’t assume something isn’t covered

Just because something specific isn’t covered doesn’t mean the causation of the problem isn’t covered. Maybe a window broke, which isn’t covered, but if it was broken by a felled tree caused by wind, which is covered, they would be responsible for paying the claim. They’ll try to take advantage of loopholes, so you should, too.

Story taken from Grant Porter from Citywide Home Loans 

Wednesday, October 4, 2017

Home Prices Up 6.64% Across The Country!

Some Highlights:

  • The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
  • In the report, home prices are compared both regionally and by state.
  • Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
  • Alaska & West Virginia were the only states where home prices are lower than they were last year.

Story Taken From "Keeping Current Matters".

Tuesday, October 3, 2017

Over 1/2 Acre With Beautiful Landscape

Beautiful large home located at 202 Kurt Ln in Caldwell. Over a half acre with a shop! Has 4 bedrooms, 2 1/2 baths, 3 car garage and over 2900 square feet!  Come take a look today!

You can also learn more about us at lowesflatfee.com.