Tuesday, March 27, 2018

Across The Street From Elementary School

Welcome to this wonderful home in Summerfield Subdivision located at 2312 W 960 S in Rexburg. The subdivision is across the street from Burton Elementary (Great Schools rating: 9!) and walking distance to Madison High School (Ranked as one of the best high schools in Idaho).  A large clubhouse & pool are scheduled to be built over the next two years. The home is light, fresh, modern, and full of designer touches that you will love.  All bedrooms are upstairs including the 2 full baths & laundry room. Flex room perfect for a toy room or additional family room. The main floor has a nice room with double glass doors, perfect for a living room or office. The large family room flows into the kitchen and dining room for a very open feel. Kitchen has a great  island & huge pantry. There is a very nice SS gas convection oven, SS two door fridge, SS dishwasher & built in microwave. The double car garage is extra deep with lots of storage room. Never run out of hot water again with the upgraded "on demand" tankless water heater. The home also has a water softener, sprinkler system, white vinyl privacy fence, central air, and fire pit.  You will love the patio, the landscaped yard and the graveled pad in the back yard for your toys. 

See photos below.
You can also learn more about us at lowesflatfee.com. 

Friday, March 23, 2018

2 Major Myths Holding Back Home Buyers

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.”

Myth #1: “I Need a 20% Down Payment”

Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report:
Consumers are often unaware of the option to take out low-down-payment mortgages. Only 19% of consumers believe lenders would make loans with a down payment of 5% or less… While 15% believe lenders require a 20% down payment, and 30% believe lenders expect a 20% down payment.”
These numbers do not differ much between non-owners and homeowners; 39% of non-owners believe they need more than 20% for a down payment and 30% of homeowners believe they need more than 20% for a down payment.
While many believe that they need at least 20% down to buy their dream home, they do not realize that programs are available that allow them to put down as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined with programs that have emerged allowing less cash out of pocket.

Myth #2: “I Need a 780 FICO® Score or Higher to Buy”

Similar to the down payment, many either don’t know or are misinformed about what FICO® score is necessary to qualify.
Many Americans believe a ‘good’ credit score is 780 or higher.
To help debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans.

As you can see in the chart above, 53.5% of approved mortgages had a credit score of 600-749.

Bottom Line

Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.

Story taken from "Keeping Current Matters".

Wednesday, March 21, 2018

Latest NAR Data Shows Now Is A Great Time To Sell!

We all realize that the best time to sell anything is when demand for that item is high, and the supply of that item is limited. Two major reports released by the National Association of Realtors (NAR) revealed information that suggests that now is a great time to sell your house.
Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report.


Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that home buying demand continued to outpace the supply of homes available in January.
The map below illustrates buyer demand broken down by state (the darker your state, the stronger demand there is).

In addition to revealing high demand, the index also shows that compared to conditions in the same month last year, seller traffic conditions were ‘weak’ in 22 states, ‘stable’ in 25 states, and ‘strong’ in only 4 states (Alaska, Nevada, North Dakota & Utah).
Takeaway: Demand for housing continues to be strong but supply is struggling to keep up, and this trend is likely to continue throughout 2018.


The most important data revealed in the report was not sales but was instead the inventory of homes for sale (supply). The report explained:
  • Total housing inventory rose 4.1% from December to 1.52 million homes available for sale.
  • Unsold inventory is 9.5% lower than a year ago, marking the 32nd consecutive month with year-over-year declines.
  • This represents a 3.4-month supply at the current sales pace.
According to Lawrence Yun, Chief Economist at NAR:
“Another month of solid price gains underlines this ongoing trend of strong demand and weak supply. The underproduction of single-family homes over the last decade has played a predominant role in the current inventory crisis that is weighing on affordability.”
In real estate, there is a guideline that often applies; when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation. Between 6-7 months is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values.
As we mentioned before, there is currently a 3.4-month supply, and houses are going under contract fast. The Existing Home Sales Report shows that 43% of properties were on the market for less than a month when sold.
In January, properties sold nationally were typically on the market for 42 days. As Yun notes, this will continue unless more listings come to the market.
“While the good news is that Realtors in most areas are saying buyer traffic is even stronger than the beginning of last year, sales failed to follow course and far lagged last January’s pace. It’s very clear that too many markets right now are becoming less affordable and desperately need more new listings to calm the speedy price growth.”
Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market and supply will ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.

Bottom Line

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out searching for your house.

Story taken from "Keeping Current Matters".

Monday, March 19, 2018

Housing Market Expected To “Spring Forward” This Year

The housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.

That hasn’t happened this year.

Demand for housing has remained strong as mortgage rates have remained near historic lows. Even with the recent increase in rates, buyers are still able to lock in an affordable monthly payment. Many more buyers are jumping off the fence and into the market to secure a lower rate.
The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2017 all fell in April, May, or June.
Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.

Bottom Line

If you are planning on selling your home in 2018, Give Lowes Flat Fee a call and we can help to evaluate the opportunities in your market.

Story taken from "Keeping Current Matters".

Saturday, March 17, 2018

Millionaire To Millennials: Don’t Rent A Home… Buy!

In a CNBC article, self-made millionaire David Bach explained that: The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.
Bach went on to explain:
“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.” 
Then he explains the secret in order to buy that home!
Don’t do a 30-year mortgage. You want to take that 30-year mortgage and instead pay it off early, do a 15-year mortgage. What happens if you do a 15-year mortgage? Well, one, you pay the mortgage off 15-years sooner, that means you’ll be able to retire in your fifties. Number two, you’ll save a fortune (on potentially hundreds of thousands of dollars in interest payments).”
What will it cost to pay your mortgage in fifteen years? He explains further:
“For fifteen years, you got to brownbag your lunch. Think about that! Brownbag your lunch literally for fifteen years. You can retire ten years sooner than your friends. You’ll have real wealth, because you bought a home – you’re not a renter. And you’ll be financially secure for life.”

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – if you don’t yet live in your own home, go buy one.

Story taken from "Keeping Current Matters".

Tuesday, March 13, 2018

Super Convenient Downtown Location

Super convenient location for downtown, Lucky Peak or Micron.Large kitchen with center island, pantry, and loads of cabinet space. Kitchen & dining open to family room with corner fireplace and divided from the living room. All four bedrooms are up, featuring a large master with walk-in closet, and master bath features separate shower and soaker tub. Several recent updates include D/W & HVAC (2017). This home is clean, vacant and ready for it's new owner!

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

Renovated Home With Completely New Kitchen

Renovated home with completely new kitchen including cabinets, granite counters, sink, appliances, fixtures & lights. Baths have new cabinets, granite counters, tile floors, sinks and faucets. Also newly replaced: wood laminate floors through the main living areas, trim, bedroom carpet, paint, A/C, water heater and the roof was replaced last year. Fully fenced yard with mature landscaping & outstanding location in NW Boise. Also features a wood fireplace, workbench area in garage. Super NW Boise location.

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

Lovely Home On Large Fully Fenced Lot

Lovely home on large fully fenced lot, quiet cul-de-sac with no back neighbors. Kitchen & master bath to have brand new granite counters installed. Garage 4th bay has been closed off, with finished, insulated walls, perfect for workshop, game room or storage. Features: large kitchen w/island, huge dining area, dual sided gas fireplace & two AC/heating units for year around comfort on both levels! Main level bedroom would also be a great den/office w/patio doors to outside. Walking distance to schools.

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

Monday, March 12, 2018

The Difference An Hour Will Make This Spring

Every hour in the United States: 614 homes are sold, 81 homes regain equity (meaning they are no longer underwater on their mortgage), and the median home price rises $1.51!

Story taken from "Keeping Current Matters".

Friday, March 9, 2018

Turn-key 3 Bedroom Home

Turn-key 3 bedroom home completely renovated w/designer touches. Located at 1600 Burton Ave. in Burley. New stainless steel appliances. New AC unit, windows, roof, flooring, and fresh paint inside and out. Luxury vinyl plank, tile, and upgraded carpets on the floors. Beautiful bathroom with double sink vanity. Mancave/family room perfect for a theater room. Low maintenance yard, w/garden & entertaining space.

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

Thursday, March 8, 2018

Wonderful Family Home In Perfect Location

Wonderful family home in a perfect location and fantastic neighborhood! Located at 172 Birch Ave. in Rexburg. Brand new carpet upstairs. The large walk out basement lets in a lot of natural light and easy access to the backyard and is plumbed for a small kitchen. 5 bedrooms includes a master suite (with a walk in closet) and an oversized room downstairs. A workbench with huge built in shelving for storage in the garage, plus a large storage room downstairs makes it easy to store all your things. The yard has plenty of room for kids to play with a sprinkler system and small garden area. Across the street from Lincoln Elementary and within easy walking distance to Smith Park, the hospital and BYU-Idaho. A great place to raise a family!

See photos below.
You can also learn more about us at lowesflatfee.com. 

Wednesday, March 7, 2018

4 Reasons To Sell This Spring

Some Highlights:

  • Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available!
  • Housing inventory is still under the 6-month supply needed to sustain a normal housing market.
  • Perhaps the time has come for you and your family to move on and start living the life you desire.

Story taken from "Keeping Current Matters".

Monday, March 5, 2018

Great Investment Opportunity In Eagle

Developers, Investors, Builders: SageView Estates was approved January 2018 as a 14, 10-acre (plus) estate lot subdivision. Beautiful views in all directions with deeded access to 160-acres of land-locked BLM land for horseback riding and other recreation. Proposed private drive with gated entry. Under new Eagle Foothills AVA (American Viticultural Area).

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