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Oct—Nov 2012
Front Street Brokers.com
4 Tips: Housing New Ways To Market Strategy List Your Home Page 9 Page 8
Fall Parade Of Homes in Oct. Page 13
Boise Home Prices—Chart Page 3
Local Market Gets National Attention
Help With Credit Scores Page 11
BROKERS Boise Housing Market Trends Page 15 Page 4
Boise—1st in US
Most Improved Housing Market PAGE 2
Idaho—2nd in US Most Improved Home Prices PAGE 3
189 S. Moon Beam, Eagle Page 6
2647 E. Plateau, Boise
Luxury Home Sales & Investments Ph 208.740.5000, Fx 208.441.0292 877 W Front Street, Boise Id 83702
Front Street Brokers
PRSRT STD US Postage Paid Boise ID Permit #649
Boise Real Estate Ranks #1 Nationally With the largest yearover-year gain in the Real Estate Strength Index (RESi), Boise, Idaho was recently named the most improved real estate market in the nation by CoreLogic, a leading property and analytics corporation. The RESi is a monthly index that ranks and compares quality, sustainability and health of metropolitan housing markets. Boise, Idaho leads the nation for many economic reasons, including significant improvements in their unemployment rate, job growth in construction, shrinking foreclosure inventory, and large gains in home prices over the past year. See the ranking chart from CoreLogic below. The silver lining in this study is that all the cities mentioned had markets most severely effected by the hous-
ing crash. And while the list is not of the strongest housing markets, they are all the most improved. Market improvement means that the market has begun to reverse itself--and for places like Boise, recovery is happening much faster than economists predicted--helping more homeowners regain lost equity. For buyers who have purchased a property in Boise over the last couple of years, it means that your investment is not only holding value but showing signs that appreciation is finally on the horizon. So why and how is Boise leading the pack in real estate recovery? Well, much like the local football team, the Boise State Broncos, Boise is accustomed to being the underdog. And being the underdog, it doesn’t take much to get national attention when you achieve something great unexpectedly. Paralleling the national headlines made by the Boise State Broncos for the last 5-6 years, the city of Boise has also received numerous national media mentions about how great a place it is to live and work. Last month, for instance, Boise was named by Forbes as the 2nd Best City in America to raise a family, and Outside magazine puts
Boise at the top of their places to live and play (see here and here). This frequent media attention has helped spread the word about how great Boise is to live, work, and play, and people from all parts of the United States are starting to migrate here. Many bring their jobs with them, as a large percentage of families relocating to Boise move for lifestyle and work from home. Boise’s popularity, affordability, and family- and businessfriendly environment compared to other regional cities has been a key component in helping the local real estate market bounce back faster than other markets. With all the positive trends Boise is experiencing right now, it will likely continue to remain one of the nation’s most improved housing markets for years to come. By Mike Turner Boise Real Estate Agent Front Street Brokers—Market Leaders PH 208-740-5000
Idaho is #2 - In Home Price Gain The balance of nondistressed sales vs distressed sales has improved to levels we have not seen since 2008, nearly 5 years ago. The swift decrease in foreclosures and shadow inventory across the nation is helping to push home prices up after a half decade of persistent declines. The states with the sharpest declines of on market foreclosures are also experiencing the strongest gains in home prices. Arizona and Idaho currently lead the nation in year over year home price increases. Both have experienced double digit gains from 2011. Taking a close look at the Boise Idaho real estate market, one can see the grip of foreclosures is no longer dominating the sales of homes. In 2011, approximately half of all homes sold for the year were distressed sales. For 2012 the percentage of total sales that are distressed is now one quarter of all sales. Comparing the first 2 quarters of 2011 with the first 2 quarters of 2012, the Boise market saw a 41% decrease in the sup-
ply of distressed inventory, and a 42% decrease in the total number of distressed sales, which has had no small impact on area home prices. Boise Metro home prices are up over 20% year to date.
2012 will prove to be the tipping point for housing, as the majority of housing markets begin their slow assent to modest appreciation patterns. And Boise, Idaho’s market should continue to be one leading the charge.
The fear of further setbacks in housing is greatly subdued since all the leading indicators that threaten home prices are diminishing. The rate of new delinquent and severely delinquent mortgages has been dropping steadily according to new data from CoreLogic. Even the chief economist for CoreLogic, Mark Fleming said, "Home prices are responding positively to reductions in both visible and shadow inventory over the past year. This trend is a bright spot because the decline in shadow inventory translates to fewer distressed sales, which helps sustain price appreciation." To see any further decreases in home prices the market would get many early warning signs, such as a swelling of new foreclosures on the market. Home sales don't have to increase for home prices to go up, which is good since we are still experiencing a sluggish economy. The low supply of homes and reduced pressure from foreclosures will allow the market to absorb the current supply of foreclosures and even seasonal slow downs.
By Mike Turner Boise Real Estate Agent Front Street Brokers—Market Leaders PH 208-740-5000
ADA COUNTY 2012 MEDIAN HOME PRICE GAINS
Page 3
189 S. Moon Beam, Eagle Idaho
Two Lots – 2nd Lot Buildable Total Acreage: 4.49 Acres Total Living Space: 6,282 sqft Main House: 4 Beds, 4.5 Baths Guest House: 1 Bed, 1 Bath Heated Travertine Floors Chef’s Kitchen – 4 Ovens! Guest House Has Full Kitchen Gorgeous Tuscan-Estate on 4.49 waterfront acres in Eagle’s Moon Lake Ranch. Enjoy stunning views of a willow tree lined stream and the lake just beyond it. Custom pool is surrounded by multiple entertaining spaces, including the guesthouse (which also doubles as a pool house). The 4.5 acres is on two lots, and the second lot can be built on and would have awesome views of the lake. This home was designed to impress, entertain, and provide comfortable luxury living. You will not be disappointed. Not only is this home one of Idaho’s finest, it also has waterfront acreage in Eagle’s renowned Moon Lake Ranch, a unique and stylish custom pool, plus a fully detached guest house. This home stands out like no other. Home is less than a year old; current asking price is a small fraction of what the replacement costs would be. Make arrangements to see this home now, before it’s gone. Home was completed in 2011. Sellers have just dropped the price 200K. Hurry, this is the best home in it’s class for Eagle Idaho. OWNER FINANCING OPTIONS AVAILABLE.
Mike Turner - Luxury Home Broker Owner - Front Street Brokers Mike@FrontStreetBrokers.com Office 208-740-5000, Mobile 208-340-8399
$1,199,000 MORE DETAILS, PHOTOS, & VIDEO @ FrontStreetBrokers.com/189-Moon-Beam
189 S. Moon Beam, Eagle
2647 E. Plateau Drive, Boise
Frank Lloyd Wright Inspired Estate With City Views
MORE DETAILS, PHOTOS, & VIDEO @
FrontStreetBrokers.com/Plateau
HOME FEATURES: 5792 Sqft of Living Space Private Gated Driveway Large Lot: 0.79 Acres Frank Lloyd Wright Designs Designed For Entertaining Commanding City Views Privacy Enhanced Fencing. Enough Space To Add a Pool Walk to Amazing Trails Close to Downtown 3 Bedrooms, Could be 5 Beds Surround Sound Throughout Has a Yoga Rm & Art Studio
Own a private world in Boise just minutes from downtown! The Plateau residence exemplifies the organic architecture, open floor plan and simplified construction as an homage to American architect and interior designer, Frank Lloyd Wright. Glass windows in every room of the home bring a symphony of natural light and breath-taking views of the city. Located in an exclusive street at the end of a cul-de-sac. Very close to downtown. For a video of this incredible home, search "Secret Plateau Boise" on Youtube.com Almost an acre so you have room to breathe and not look directly in a neighbor's window! The back patio alone is worth a visit to this great home. Pet friendly, as it has its very own pet (or art) studio in one of the two garages (owners will convert back to garage upon request). Set up currently as a 3 bedroom home, but could easily use lower level as bedroom/ apartment and have 4 or 5 bedrooms. The Sun/Yoga room will impress anyone who sees it. This home just exudes relaxation and high end comfort. Call Mike at 340-8399 to see it today!
$1,263,900 Mike Turner - Luxury Home Broker Owner - Front Street Brokers Mike@FrontStreetBrokers.com Office 208-740-5000, Mobile 208-340-8399
MORE DETAILS, PHOTOS, & VIDEO @
FrontStreetBrokers.com/Plateau
4 Tips for Taking Advantage of Low Rates & Home Prices I believe we are seeing the sun set on opportunities to purchase a really good deal on a home in this Boise real estate market. Not only is the Boise median home price up over 20% year to date in 2012, but foreclosures are becoming extinct and interest rates will go back up, which will effect buyers’ ability to purchase more than home price increases.
you could exceed covering your current expenses by having a renter in your home.
Renting out your current home is not the ideal situation for all homeowners. Often it is best to just sell your home before making any big moves. But if you prefer to wait for home prices to increase another 15% or more before you sell, then it If you have any desire to take advantage of the affordable op- may be a good option to rent out your home so you can buy portunities in real estate, then you better get the ball rolling. today at the lower rates. You may have already come to this conclusion, but if you are like most homeowners, you need to sell your current home to even consider buying a home. So there lies the catch twenty- 3. Figure Out The Logistics two. You are stuck. Or are you? Here are four recommendations for anyone wanting to take The logistics of renting out your home so you can buy another one can be tricky. If you are financially sound enough to puradvantage of rates and home prices now. chase before renting or selling your current home, then you have a lot of options. On average it takes less than 30 days to identify a quality renter for your home. Demand is still very 1. Take Action Now high for nice homes to rent. So you can purchase a new home, move into it, and then find a renter for your old home. Call a knowledgeable real estate agent and invite them over to However, if you don’t have the luxury of buying a home until see your home. They can easily determine what your home you rent or sell your current home (because you can’t get fiwould sell for in today’s market. My agents at Front Street nancing until you do), then logistics are much tougher. Many Brokers are trained and experienced at determining market lenders will want to see that your home has closed or see 3-6 price and can give you tips on inexpensive improvements that months of rent payments before they will approve a loan for can have a big impact on selling price. you to purchase. You can find out what a lender will want to Even if you are just kicking the idea around but are not serious see in order to give you a loan if you follow step 1, and take about buying or selling yet I would still advise you to invite a action now by asking a lender or two about it. professional over to your home to find out what your home I have a few clients who really wanted to buy or build a home should sell for in this market. They might also recommend at today’s prices and rates, but couldn’t get the price they modifications to your home that would be worth considering if needed to sell their home. So they looked for a home to rent they brought a significantly higher price in the event you were (some chose a home nearby, others picked a fun new place to to sell your home. live temporarily, like downtown or a resort area like McCall). Front Street Brokers provides this service all the time to home- They rented out their home, and then 6 months later or more owners, so don’t be shy about asking. It doesn’t take us long to purchased or built a home they really wanted. This action may analyze a property and we do it every day. Folks are often seem risky or difficult. I can tell you that my clients who made surprised by how much (because prices are on the rise again) such a decision were nervous about it too. But they decided it or how little (because home prices are still well below peak) was worth the risk because if interest rates went back up to 6%, or home prices or lot prices went up significantly, then the their homes will sell for today. home they wanted to buy would be out of their reach or out of The benefit of getting advice is it helps determine if selling is the right decision now or if it is better to wait. The costs of the zone of what they wanted to spend. waiting could outweigh the costs of staying put. It depends on your situation.
they were a few years ago). My payment on my home is $1200 a month; the market rent for my home is about $1400-1500 a month. So I could make the move, the question is should I sell or should I rent? The answer is different for everyone, as we all have different circumstances and preferences. Understanding your options and the pros/cons of making a move now or down the road is essential for determining the best outcome for you and your family. My best advice to you is to make a decision now to get more information. Information is the power you need to determine the best course of action. Taking no action now could cost you more or close the door on options down the road. Don’t be shy to ask for advice or help in determining your options right now. We can help you discover the current value of your home, recommend a good lender, answer your questions about the real estate market, and more. You can call me personally or any agent at my office at 208-740-5000. –Mike Turner
4. Determine Your Risk Tolerance
When I got my degree in Business, my professors often talked about “Opportunity Costs.” How much will it cost you if you don’t act on a current opportunity? That is something you I understand this dilemma all too well. I purchased my last should try to answer now to see if it changes your action plan. home in 2006. I could sell it today, but I could also wait for home prices to get closer to what I paid for it. There is a home on the market that I really want that would be the perfect fit for 2. Sell or Rent Your Current Home? my family; however it is at a higher price point than my current home. I have many clients who have recently elected to keep their current home and rent it out rather than selling in this market. Rent prices in the Boise real estate market are up significantly over the last year or two. If you have recently refinanced your home to these historically low rates then there is a good chance
Page 8
If I bought this other home today at 3.75% interest rate, then it would be well within my budget and I would get what I wanted. However, if I waited until my current home increased in value before selling, the other home, if still available, would be out of my reach if interest rates jumped back up to 6% (which
Mike Turner is the Founder and Owner of Front Street Brokers. Mike’s mission is to develop a new class of real estate agents that leads the industry with market knowledge, innovative marketing, and creative solutions for their clients. Mike has owned and operated his real estate brokerage since 2007. Mike is married to Amanda Turner and has 2 daughters, Emilia and Ivy.
Homeowners—You Have Options My team and I at Front Street Brokers are quickly becoming known in our community for our ability to sell homes while providing homeowners options. If you speak to 10 listing agents you are likely to get quoted the exact same fee from all 10 agents. We are happy to report to you that we have developed options to help you save thousands, sometimes tens of thousands of dollars when selling your home, without having to settle or compromise on the marketing of your home. In fact I am extremely confident our listing marketing is second to none, yet we still charge less for our services compared to 98% of all agents!
If you would like to sell your home sometime in 2013 you should… 1.
Contact my team now. Timing on when you list your home to sell is extremely important, there are also many easy and inexpensive projects you can do around your home now that will help you net thousands more when you sell your home. Contact us and we can help you develop a strategic plan to have the best outcome next year. Email me at mike@frontstreetbrokers.com or call my cell 208-340-8399.
2.
Get a free Appraisal of your home. My team and I will gladly appraise your home to see what the market will bear today and our best estimate on what it would sell for next year. Discussing the market value of your home now helps in developing a budget for your next move.
3.
Learn as much as you can about available options you have. For example, have you considered renting out your home as opposed to selling it? The market rent for your home may exceed your mortgage payment which could lead to a great investment opportunity for you. Be proactive now, learn the pros and cons about all the available options you have, whether you decide to stay in your home or make a move. Knowledge is power. Asking questions doesn’t cost you anything.
Creative Commissions We have creative commission plans that give you our full boat of marketing services and our full service guarantee, while offering you alternatives to the traditional commission model. This can save you thousands.
Private Listings If you don’t want to list your home until 2013, but would consider offers now, then a private listing might be the perfect solution for you and it’s one of our specialties.
By Owner—Assist For Sellers who are wanting to be more involved in the marketing of their home, we have a marketing package that gives your home a ton of exposure—while you save bundles of money on Realtor commissions.
Transform Your Home Whole House Remodel For Less Our fix n flip remodeler/builder knows how to totally transform a home from top to bottom crazy fast and for a crazy affordable price. We can personally vouch for their quality and expertise. Why move when you can trick out your current home for less.
FIND OUT THE DETAILS — CALL MIKE TURNER AT 340-8399
Custom Home in Eagle with Saltwater Pool Beautiful custom luxury home in desirable Castlebury subdivision in Eagle. 5,917 sq ft of luxurious, move-in ready space. 4 big bedrooms, 7 baths (each bedroom has their own private bathroom). A second level bonus room could be converted into a 5th bedroom. Gourmet kitchen with granite counters, two dishwashers, professional-grade appliances, custom tile, butler’s pantry and a wine fridge. Other upgrades include extensive built-ins, custom paint, and dual HVAC systems. Home is well suited for a large family.
2885 S. White Castle, Eagle
Outside, you’ll love the low-maintenance saltwater pool with diving board. Roomy covered patio features an outdoor kitchen and entertainment space with sound system. Plenty of room leftover for play and gardening. The whole acre lot is nicely landscaped, and has mature trees bordering the property for enhanced privacy. Call Sandi Rubio, Front Street Brokers, 208 -850-3681.
Sandi Rubio Top Sales Associate Front Street Brokers Sandi@FrontStreetBrokers.com FrontStreetBrokers.com/Agents/Sandi CALL SANDI: 208-850-3681
$925,000 MORE DETAILS, PHOTOS, & VIDEO @
FrontStreetBrokers.com/Castle
Take charge of your credit score 4. Type of Credit impacts your scoring system by
BY ALICIA MALONE Front Street Brokers In the last issue of Boise Real Estate News, I addressed some startling history on the origin of credit bureaus and hopefully dispelled some un-truths about the system. In this article, I want to explain why and how credit history became so important. The credit-scoring model seeks to quantify the likelihood of a consumer to pay off debt without being more than 90 days late at any time in the future. The higher the score, the better it is for the consumer, because high scores translate into lower interest. This can save literally thousands of dollars in financing fees over the life of the loan. In order to calculate a score, points are awarded for the following five components (with a high score being favorable): 1. Payment History has a 35% impact on your score. Late payments, judgments, and charge offs all have a negative impact. Delinquencies that have occurred recently have more impact than older ones. 2. Outstanding Credit Balances have a 30% impact. This factor marks the ratio between the outstanding balances and available credit. Ideally the consumer should make an effort to keep balances as close to zero as possible, and definitely below 50% of available credit limits when trying to purchase a home. 3. Credit History has a 15% impact. This portion of the credit score indicates the length of time since a particular credit line was established. A seasoned borrower with a history of borrowing and paying off in a timely manner will always receive a stronger score in this area.
10%. A mix of auto loans (installment notes), credit cards (revolving credit) and a home loan (mortgages) is more favorable than a bevy of credit card debt. 5. Finally, Inquiries on a consumer’s credit score impacts 10% of your credit. Keep in mind that if a creditor is asking you for your social security number, they are probably pulling your score. Though it is a good idea to check your credit score once a year to stay on top of any fraudulent charges, keep in mind that every time it is pulled, your credit score drops. Be aware that one shopping adventure (such as car shopping) could negatively effect your score. Remember that the credit score is a computerized calculation and personal factors such as divorce, unemployment, or prolonged illness are not taken into consideration. It is merely a snapshot of today’s credit profile for any given borrower, and it can fluctuate dramatically within the course of a week. Do your best to keep your number healthy, but realize you’re more than a number and that, in today’s economy, more people are willing to work with and around lower credit scores. If you have any further questions or are ready to delve into the home purchasing arena, don’t hesitate to call!
HISTORIC GEM IN THE HEART OF TWIN FALLS Built in the 1930’s, this home maintains beautiful original details like cove ceilings, fireplace, hardwood floors and built- ins, while boasting upgraded amenities like a new roof and HVAC. If you’re thinking about making the move to beautiful Twin Falls but want to maintain that Boise North End feel—this is an ideal home for you! Call for more details.
ALICIA MALONE Alicia has extensive experience serving owner/buyer clients. Contact her at Alicia@FrontStreetBrokers.com Or 208-731-3604
LUXURY FORECLOSURE REPORT EAGLE LUXURY ESTATE 10 ACRES OF HORSE LAND Once listed at 2.2 Million,
Silvercreek Realty
Now $990,000 Situated on 10.01 acres of prime horse land in Eagle, accessed only by a private gate. Landscaped, sports pool, 600 sq ft greenhouse. Theater room/gallery, game room, even a library with a secret entrance. The finishes are pretty over-the-top (think Venetian opera house), this is an unforgettable and completely luxurious property inside and out. 7,147 sq ft, 5 bedrooms, 6.5 baths. Listing courtesy Silvercreek Realty.
The Sultana property: Boise bankowned luxury home on simply one of the most beautiful waterfront lots we’ve seen. 5 bedrooms, 2,876 sq ft with detached shop and living space. Stocked pond and river and creek access. The price can’t get much lower for all that you get! Listing Courtesy SIlvercreek Realty.
2.5 ACRES ~ WATERFRONT! $2 million property to replace
NOW JUST $895,000
Download Report at: www.IdahoLuxuryForeclosures.com
HELP FOR IDAHO HOMEOWNERS Over 12,000 Foreclosed Homeowners Scheduled to Receive Settlement Payments in 2013 On Monday, Sept. 24, 2012, the Idaho Attorney General’s office mailed out over 2,600 payment applications to Idahoans eligible to receive compensation from the recent National Mortgage Settlement. Over 12,000 Idahoans qualify, with the remaining payment application packets scheduled to be mailed out over the next two weeks.
options including first and second lien modifications, forbearances for unemployed borrowers, deficiency judgment waivers, short sale assistance, and homeowner transition payments. Detailed information about each program, the eligibility requirements, and the application process is available here: http://nationalforeclosuresettlement.com.
Eligible applicants are Idahoans who lost their home to foreclosure between Jan 1st, 2008 and Dec 31st 2012. However, it only includes borrowers whose loans were serviced by these five national banks: Ally/GMAC, Citi, JPMorgan Chase and Wells Fargo. The settlement requires the banks to compensate customers for loanservicing errors that may have led to customers losing their homes to foreclosure.
As part of this settlement, borrowers who are current on their mortgage but have negative equity preventing their ability to refinance may be eligible to refinance their loan with the current historically low rates.
Idaho Attorney General, Lawrence Wasden said, "This payment is not intended to compensate Idahoans for the loss of their homes. Rather, it is a step toward accountability for unfair business practices that harmed Idaho homeowners.� The minimum that qualified foreclosed homeowners will receive is $840. That number could be higher, depending on how many borrowers mail back their payment applications or apply online by Jan 17, 2013.
Loans owned by Fannie Mae or Freddie Mac are not impacted by this settlement. Visit the following websites to learn if a loan is owned by either Fannie Mae or Freddie Mac: http://www.fanniemae.com/loanlookup , http://www.freddiemac.com/mymortgage. The five participating servicers have currently identified 12,207 Idahoans who lost their homes to foreclosure while attempting to negotiate a modification or other loss mitigation option.
Wondering if you are one who qualifies? Eligibility factors include: Borrowers who lost their home to foreclosure (not short sales) between 2008 and 2011 with loans owned by Ally/GMAC, Citi, JPMorgan Chase and Wells Fargo. Many of these loans are owned by Fannie Mae and Freddie Mac but are serviced by the five national banks involved in this settlement.
Idahoans who believe they maybe eligible but did not receive a claims packet should contact the settlement administrator at 866-430-8358 or fill out this online form at:http://www.ag.idaho.gov/onlineForms/paymentEligibilityForm.htm
Idaho borrowers who are eligible for the loan modification or refinance are to be contacted by their mortgage servicer; however, borrowers can contact the mortgage service directly: - Ally/GMAC: 800-766-4622 - Bank of America: 877-488-7814 - Citi: 866-272-4749 - JPMorgan Chase: 866-372-6901 - Wells Fargo: 800-288-3212 The Idaho Attorney General also is warning all homeowners to be aware of settlement-related scams. Never provide personal information or pay money to anyone who calls or emails you claiming they can provide settlement-related assistance. Idaho homeowners should report suspicious settlement-related activities to the Attorney General's Consumer Protection Division at 208-334-2424.
This settlement also helps Idaho borrowers who have not lost their home to foreclosure by providing financial
Foreclosure Inventory
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By Mike Turner Boise Real Estate Agent Front Street Brokers
2012 Boise Idaho Fall Parade of Homes October 6th & 7th | 13th & 14th | 20th & 21st Saturdays and Sundays 11am to 5pm It’s finally here! The Fall 2012 Parade of Homes. This is your chance to see 34 homes around Boise (Ada County). Builders will be showing off their skills, letting you see the latest styles and trends. If you have any desire to build your own home, the parade is the best place to get ideas and see what you can buy based on your budget. Not all builders are created equal. The team of agents at Front Street Brokers will be checking these homes out as well, familiarizing ourselves with all the products on the market. We often advise clients who are thinking of building on where the best deals on lots are and which builders can provide them their dream home for less money, hassle, and drama. This will save you time, money, and a lot of stress. You can count on our experience. If you would like to join us on the tour (or set up a private one with one of our agents) then call 208-740-5000 for an appointment. More Info at http://frontstreetbrokers.com/fall-parade-2012
Builder Spotlight
Innovative Custom Homes continues to impress the agents at Front Street Brokers on their ability to build such amazing homes at prices that are 10’s of thousands below other builders. If you are considering building a home, we highly recommend speaking with Ben and Heather with Innovative Custom Homes. You can contact them directly at
208.695.5846
FIND OUT HOW YOU CAN GET THIS SWEET HOME ON THIS AMAZING LARGE WATERFRONT LOT FOR LESS THAN $390,000 Call Mike Turner at 340-8399
New Home in Meridian
Thank You For Your Referrals!
*Single Level High End Home * $299,770 *
85% of our business is coming from you...Thanks One of the main reasons we provide this newspaper at no cost to you is we want to show you we are committed to our profession and we appreciate you thinking of Front Street Brokers when your friends and family are in need of a knowledgeable real estate agent .
More info and pictures: Frontstreetbrokers.com/Orso
Boise Rental Management
WWW. FRONTSTREETBROKERS.COM
877 W Front St, Boise ID
208.740.5000
Home Inspector
Matt Rubio 208.473.2418 BoiseRentalManagement@gmail.com
Davin Strand Bent Nail Home Inspections 208-869-5557
“I refer my clients to Boise Rental Management. Not only is Matt the kind of guy you want in your corner, he is all business with tenants and helps you keep your investments profitable.”
“Davin has been our recommended inspector for our real estate firm for years for good reason. He is the best.” - Jared Cozby, FS Brokers
- Mike Turner, FS Brokers
Page 14
Local Real Estate Trends Inventory is still very low—This has helped stabilize home prices and is the direct cause of why Boise is performing better than many other areas in the state and across the nation. Why it is so low is a combination of many factors: People are still moving here for lifestyle improvements and often bring their job with them. Home prices are still far off their peak and have made this region very affordable for buyers. Sellers are still waiting for home prices to climb up further before listing their homes.
If you haven’t noticed—New construction is in full swing in Ada county. Builders are working to stay ahead of the demand. So far this year New Home Sales have increased over 100% compared to 2011. Based on the low inventory and high demand for newer homes we forecast that 1600-1800 new homes will be sold to consumers in 2013 for Ada County. The biggest challenge the builders now face is lack of lots. With so little development going on, we expect that in 2013 most of the desirable lots in Ada County will get absorbed and new developments will begin again.
Canyon county new construction was pretty much non existent in 2011. So the current activity in new construction there has sent the statistics through the roof. This summer there was a 271% increase in new home sales in Canyon county. As foreclosures loosen their grip on the area, we should see more new homes get built in Canyon county o keep up with the demand. We may see 300-500 new homes get built in Nampa in 2013 which would be a nice little boost to the local economy.
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