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Will 2014 Be Another Housing Bubble for Eagle? -Page 2 Eagle Home Prices and Housing Stats -Page 3
GET FREE PROFESSIONAL PHOTOGRAPHY OF YOUR HOME—PAGE 6
Who are Front Street Brokers? -Page 4 Best Thing You Can Do Today To Sell Your Home This Coming Spring -Page 5 Eagle Homes For Sale -Page 6 See What Eagle Homes Sold Last Month -Page 8
Brought To You By: Mike Turner Realtor—Top Producer—Owner of Front Street Brokers Realty Real Estate Marketing Expert—Host of Boise Real Estate Radio Top 1% Sales Agent For Ada County For The Past 5 Years.
Free 20+ Page Home Appraisal for Eagle Residents. Speak to No Agents Get the same information that lending institutions and appraisers use to evaluate home values and prices along with a professional evaluation so that you know right now what your home is worth today. You can use this information when talking to lenders, banks, appraisers or Realtors so that you know the true value of your property in today's market.
To get your free appraisal go to: http://frontstreetbrokers.com/Free-Appraisal
Preview A Gorgeous Tuscan Estate In Eagle—See Page 4
Could Eagle Idaho Experience Another Housing Bubble in 2014?..Maybe Doing the Math. By Mike Turner—FS Brokers
EAGLE HOUSING STATS
OCT 2013
Total Homes on the Market
287
Total Building Lots for Sale
110 62
I find myself thinking about a few important facts about the Boise real estate market that trouble me.
1. 2.
Inventory of Boise homes is up 56% year to date. Yikes!
Total Homes Sold Last Month
Pending sales are down 15% from last month, and down 5% from same month last year.
Supply of Homes in Months
3.
New Construction Pending sales are down 9% compared with same month last year, yet inventory over new homes is up 12% from last month.
Average Days on Market
62
4.
Housing Supply is still at a record low, currently at 3 months for Ada county, but that is up from 2.3 months just last month.
Total Pending Home Sales
112
New Offers Pending Last Month
74
Based on what I am seeing in the market, it appears to me that our housing supply in Ada county could possibly jump up to 5 or 6 months of inventory this fall/winter, which are numbers we haven’t seen since January 2011. Does that mean the party’s over? Not Really. 6 months of inventory is considered healthy. But I do believe that the market has been so hot in the last 2 years that many agents, lenders, title companies, builders, etc are going to be caught off guard this fall and winter. Meaning it will be slower than they expect it to be, because they have been seduced into a false sense of market predictability after 6 months of red hot sales in the valley. I by no means feel that the Boise market is going to be distressed again or slide backwards in another crash, but I do feel that industry professionals have gotten used to selling homes in a low inventory market. Now the game is changing more back to normal. Normal is ok with me. Because we are used to marketing hard to sell homes (like million dollar properties). I do the same marketing tactics for a $300,000 home as I do for a 1.3 million dollar home, which is, to try to crush-it online. It’s working too, my listings are getting 10x more hits than competing listings right next door! More exposure, and more visibility on a home for sale = much higher odds of selling at our target price. The fall/winter slowdown will catch a lot of people off guard, and will cause some negative news in the media. So consider this your official heads up.
But here is my 2014 prediction… Barring some government implosion...which at the time of writing this seems entirely possible, I believe that the Boise, Meridian and Eagle areas are going to do very well next year. The reason is I still see people fleeing other states and moving to the Boise area. These people are often coming with Jobs, since they work from home and bring outside money into the local economy. If people with money keep moving in, we help the market from sliding backwards, and keep it strong going forward.
4.63
Average Sold Price Last Month
$346,800
Median Sold Price Last Month
$299,500
Average List Price Last Month
$524,500
Median Listing Price
$425,000
Home Price Recovery Update Ada County - Chart 1 to the right shows Ada County has bounced back to historically normal levels. Due to such a large market correction over the last 18 months, I predict that home prices in Ada County will begin to plateau in 2014. I don’t expect home prices to keep racing up to home values we saw in 2006 and 2007, but rather slowly increase over time. Of course any significant change in the national market good or bad could alter this prediction. But the good news is that the county has recovered roughly 80% from the losses it endured from the market crash. [The Yellow Line] – is a 3.7% appreciation line starting from year 2000. [The Pink Line] – is a median price of re-sale homes in the county that EXCLUDES foreclosure sales. [The Blue Line] – represents median sale price for ALL re-sale homes in the county. * Data from Jere Webb Publishing and from Intermountain MLS. ** Article by Mike Turner, Boise Real Estate Agent at Front Street Brokers. Contact at 208-740-5000, mike@frontstreetbrokers.com
The Supply of homes is increasing in Boise Idaho – See what price ranges are most impacted See Video for further details. Normally the Inventory increases in summer and then maintains a downward trend towards winter. It will be interesting to see whether the trend continues in 2013 because there has
their homes on the market for sale this fall. The overall supply of homes on the market, compared to previous years, is still low. I see that short sale inventory and REO inventory are much lower as compared to previous years. Non distressed inventory has gone up in recent months but is not as high compared to 2010.
http://FrontStreetBrokers.com/video113
been so much positive news about the housing marketing in the last few months, that might encourage more people to put
The 3rd chart in the video shows inventory levels for each price range. From which you can see that $160,000199,999 price range has gone up by 45%. The $200,000-$249,999 price range also went up by 42% while $250,000$299,999 price range has gone up by 33%.
The biggest jump in housing inventory was in the $300,000-$399,000 price range; up 63%. So watch out if you’re trying to sell a
home in this price range. Interesting to note however, there has been no year over year increase in listed homes for sale in the price range of $400,000 to $700,000. But homes priced over $700,000 have increased since last summer over 20%. The only price ranges that have seen any decrease in supply are homes priced below $120,000. This inventory has dropped over 50%.
In summary Boise homes priced between $160,000 – $400,000 have swelled considerably since last summer, but the number of homes priced between $400,000 – $700,000 has not changed at all compared to 2012. For more details or the Boise Real Estate Market, contact Mike Turner at mike@frontstreetbrokers.com.
About Mike Turner: Mike Turner’s real estate career began in 2004, and he has managed and operated his own real estate brokerage since 2007. Prior to working in real estate, Mike held management and leadership roles in both a Fortune 500 company and as a Military Officer. Mike’s first successful business was a landscaping company he started at the age of 16, which grew in size and scope until he was able to sell it to pay for college where he earned a Degree in Business Administration. Mike’s love of marketing and helping others has played a crucial role in the success of Front Street Brokers. Mike has been the lead host in a weekly real estate radio show over the past four years, and he is the editor of the Boise Real Estate Newspaper and the Boise Agent Weekly.
As a real estate agent, Mike’s strengths are his ability to work with all personality types and calmly work to solutions in high-stress situations. Mike makes it a priority to have an expert level of knowledge of local market housing trends and changes, and is often called upon by local media to share his opinions and insights to the market.
Trivia:
Prior to working in real estate, Mike worked for few years on movies and TV shows around the world as a Camera Boat Operator and Marine Logistics Coordinator, including the TV series “Survivor”. Mike has been married for 14 years, and has two daughters, ages 4 and 6. Mike loves to go on adventures with his family and mountain bike in the Boise Foothills.
About Front Street Brokers Formerly known as Turner Real Estate Group, Mike Turner re-branded his brokerage to Front Street Brokers (aka FS Brokers), when moving his company to one of the busiest street corners in Boise. From the beginning the goal of FS Brokers was to develop a reputation in Boise as a real estate office that is known for their superior knowledge of the marketplace, their good-natured, hard working, work ethics and their innovative marketing efforts to sell homes. The first thing agents who work at Front Street hear from the owner is that above all else, do the right thing. Put your clients and colleagues before yourself, because this business is about the long game, not short-term gains. The reputation of our firm is our most valuable asset and therefore taken very seriously.
FS Brokers is a small firm consisting currently of just 5 full-time agents. However, we are happy to report that even though we are small in numbers, we carry a marketing impact greater than some of the largest brokerages in town. Having one of the most visible offices in the area, combined with our local newspapers, radio shows, weekly newsletters, and media appearances, FS Brokers appears to be an 800-pound gorilla to the public. FS Brokers likely spends 5-10 times more on re-branding and listing marketing than any other firm of its size.
Evidence of the marketing power and social media impact Front Street Brokers carries in our community: FS Brokers website gets more traffic than even the biggest real estate firms in Boise, the closest brokerage that comes close to the traffic that FSB has is KWBOISE who has over 400 agents vs. 5 at FSB. This proves that bigger is not better. Front Street Brokers are just better marketers, and when it comes to getting your home sold, don’t you want the best? (Google.com ranks #1, facebook.com #2)
Real Estate Company
Website
Front Street Brokers
frontstreetbrokers.com
Keller Williams Boise
# of Agents in Brokerage Global Website Ranking 5
473,476
kwboise.com
401
489,515
Atova
idahorealestate.com
69
2,876,777
Group One
groupone.com
131
3,655,817
Better Homes & Gardens: 43o North
43re.com
38
6,647,985
Silvercreek Realty
silvercreekrealty.com
597
8,090,155
Coldwell Banker Tomlinson
cbtghomes.com
257
10,667,255
Our prevailing marketing efforts can also be seen in our listing marketing. Many homeowners believe that real estate agents’ abilities to market their listings are all fairly similar. That they predominately rely on MLS traffic and builder marketing efforts to get more online and onsite traffic to their homes. However, we can prove that we can offer listing marketing in a whole different class than 99% of agents.
When sitting down with homeowners I often show them the amount of online traffic (which is easy to track) another listed home in the community is getting, and then show them one of our listings nearby that is generating 10 to 20 times more online buyers looking at the home. I also show them how we do it, so they know that not only do we get more visibility on the home, but targeted visibility. Our goal is to get the home sold, so marketing efforts are focused on getting the home in front of the right people.
Buy or Sell Your Home…With Mike Turner as Your Agent and MOVE FOR FREE! We all know that one of the biggest downsides of moving is the huge hassle and expense of moving your furniture and belongings. It’s a real drag, right? Well, if you use Mike Turner to buy or sell your home sometime between today and the end of May 2014, you’ll not only be getting one of the best real estate agents in town to assist you, but you’ll get Professional Movers to help you pack and do all the heavy lifting and provide a moving truck at no cost to you. Seriously, Mike will pay for it. Yes, it’s expensive to hire professional movers, and Mike is willing to cover the costs so that you don’t have to worry about the stress of moving. It’s his way of saying thank you for doing business with Mike and his team. Get the full details by contacting Mike directly at 208-740-5000 or email Mike@FrontStreetBrokers.com
The Best Thing You Can Do Today… To Sell Your Home This Spring If you have any desire sell your home in 2014, then the best thing you can do TODAY is to get professional photography of your home before the weather kills off your grass and trees. Fall is a beautiful season in Idaho, and makes for some wonderful photos. But your window is closing, and we all know by now that how your home looks online is extremely important. When your home looks amazing online, it will generate more interest and a much better price. Which is why we pay for a professional photographer on all of our listings. Even for homes priced under $150,000 we pay for the best photographer in town to photo the home because we know it will mean more money for our sellers and less time on market.
THE SOLUTION: Get FREE professional photography of your home in OCTOBER! You don’t have to sell your home any time soon to get the photographer, you don’t even have to sign any agreements or contracts to use Front Street Brokers to sell your home (although we’d love your business!). We just don’t want you to miss out on getting good photos of your home while the weather is still good. All you need to do is call Mike Turner at 208-740-5000 and let me know that you saw this ad and would like to get a photographer to take pictures of your home. We will help you get it scheduled and it will cost you nothing! But please don’t wait! Get your photos now before winter!
EAGLE HOMES FOR SALE Luxury Tuscan Villa in Corrente Bello Eagle $795,000
New Listing — Waterfront Home—2243 Riverbirch, Eagle
Eagle Waterfront Home with Casita - in Legacy $448,500
MORE INFO: http://FrontStreetBrokers.com/Riverbirch Search Eagle Area Homes—No Sign In Required
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New Listing — Waterfront —6049 Founders Way, Eagle
http://FrontStreetBrokers.com/Eagle-ID-Homes-For-Sale http://FrontStreetBrokers.com/Eagle-ID-New-Construction http://FrontStreetBrokers.com/Eagle-ID-Foreclosures http://FrontStreetBrokers.com/Eagle-ID-Just–Listed http://FrontStreetBrokers.com/Eagle-ID-Luxury-Homes http://FrontStreetBrokers.com/Eagle-ID-Building-Lots http://FrontStreetBrokers.com/Eagle-ID-Price-Drops
MORE INFO: http://FrontStreetBrokers.com/6049-Founders
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http://frontstreetbrokers.com/Free-Appraisal
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Picture Perfect Window Cleaning WindowCleaningBoise.com 208-401-6265
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Residential Window Cleaning, Commercial Window Cleaning, New Home Construction Cleaning, Scratched Glass, Hard Water Cleaning, Glass Restoration, Screen Cleaning, Rescreening/Repair/Rebuild, Gutter Cleaning, Gutter Protection, Pressure Washing, Awning Cleaning/Sealing
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Boise Rental Management Matt Rubio 208.473.2418 BoiseRentalManagement@gmail.com “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.” - Mike Turner, FS Brokers
See The Coolest New Homes Being Built in Eagle Right Now: http://FrontStreetBrokers.com/Eagle-ID-New-Construction
Home Inspector Davin Strand Bent Nail Home Inspections 208-869-5557 “Davin has been our recommended inspector for our real estate firm for years for good reason. He is the best.” - Jared Cozby, FS Brokers
Find Out What Homes In EAGLE Are “Really” Selling For...FOR FREE! If you’ve ever wondered what homes in your neighborhood are really selling for, here’s a simple way to find out! See the pricing and details of the homes selling in your Eagle Idaho neighborhood; TEXT 208-340-8399 and provide your address. Or for a quick link you can access 24 hours a day, 7 days a week go to:
Recent Eagle Area Home Sales - Full Details
www.FrontStreetBrokers.com/Eagle-Sold For Property Details and Final Sale Prices
SOLD 9/8/13 LIST PRICE: $1,590,000. Floating Feather
SOLD 9/3/13 LIST PRICE: $950,000. Estates at Corrente Bello
SOLD 9/13/13 LIST PRICE: $599,000. Sedona Creek
SOLD 9/12/13 LIST PRICE: $529,000. Cavallo Estates
SOLD 9/5/13 LIST PRICE: $999,000. Castlebury
SOLD 9/11/13 LIST PRICE: $529,000. Banbury Meadows