March/ 2014 Places to Go & Things to Do march 25Th-30Th 10:00 am - 4:30 pm – Spring Break w/Birds of Prey @ World Center for Birds of Prey aPril 3rD 7:30 pm - One Survivor Remembers An Evening with Gerda Weissmann Klein @ The Morrison Center aPril 4Th 8:00 pm – Bill Cosby @ The Morrison Center aPril 4Th 8:00 pm - DeWalt Guaranteed Tough Bull Riding Invitational @ The Idaho Center
aPril 12Th 10:00 am – Easter EGGstravaganze @ Zoo Boise aPril 15Th 9:00 am - 5:00 pm – Job Fair @ Boise Hotel & Conference Center aPril 19Th 4:00-10:00 pm - Idaho Green Fest @ Downtown Boise 8th & Bannock aPril 26Th - may 11Th M-F 5-8; Sat 11-8; Sun 1-5 - Boise Parade of Homes
Making a Contingent Offer By: KaLinn Dishion
If you’ve found the home of your dreams, but are still living in your “it will do for now” home, don’t despair. If you cannot afford to own both homes at the same time, you can still make an offer contingent on the sale of your home. A contingent offer gives you a set period of time, usually between 30 and 90 days, to get your home sold so you can close on the purchase of your new home. In order to convince a seller to accept a contingent offer, your offer will need to be very attractive in other ways. Offering full price, providing a preapproval from your lender, arranging the home inspection right away, and choosing a closing date that works for the seller are ways of making the offer more attractive to the seller. It is also critical to price, stage and list your home for a quick sale. The seller’s agent may even want to tour your home in order to assure the seller that your home can sell and close within the agreed time frame. Another inducement may be to include a “Seller’s Right to Continue to Market.” Most sellers will insist on a right to continue to market anyhow, so why not offer it up front? This feature allows the seller to keep the property in MLS, and to receive and accept an offer in a back up position.
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MARKET Q & A
By: Barbara Dawson
Q: I went online to see what my home is worth. The site told me it is worth $250,000 but the tax assessment says it is worth $205,000. Why is there such a difference?
The web site you may have used probably uses an automated valuation model (AVM), a computer software program that combines data from many sources to calculate a value.
Idaho is a “non-disclosure” state and our sales prices are not required to be disclosed to the county assessor’s office. As such, the information available to these AVM models in Idaho is very limited and often unreliable. The tax assessor, by law, reassesses your property every 5 years. While the value may change each year, they use an indexed model that calculates values based on trends in a specific neighborhood or area of town. As they say, real estate is local! A Group One agent can help you understand why it is the market that sets the price, regardless of how much you might think your home is worth or what a website says it is worth. A listing price or an offering price based on good data helps buyers and sellers make educated decisions and have some control over the process. Too much reliance on computer AVMs can lead consumers into decisions that may take a bite out of their wallets – higher house payments, lower sales proceeds or more time on the market.
FEBRUARY MARKET STATISTICS: A BUMP IN THE ROAD? ADA COUNT
Active Residential Listings: 2,117 Total Sold in Past 12 Months: 8,490
Closed Sales from 3/1/13 to 2/28/14 This information provided herein is derived from the Intermountain MLS and is believed to be accurate & reliable, but cannot be warranted by Group One.
Avg. Active Listing Price: $230,855 Avg. Sold Price: $228,183
CONTINGENT OFFERS .............. PAGE 1
Months of Supply: 3.0 By: Brad Barker
time (generally between 24 and 72 hours) to either withdraw your
The market took a step back in February with sales decreasing 9% compared to last February and Pendings decreasing 12%. Inventory has increased 18% over the last twelve months but, because of the pace of sales over that period of time, we have only 3 months of inventory.
of selling your home. If you cannot move forward without selling your home, you simply withdraw your
Distressed property sales amounted to only 13% of total sales this February compared to 24% last February. It is interesting to note that the decrease in total sales from last February to this February is exactly the same amount as the decrease in sales of distressed properties.
and get your earnest money deposit back. (Yes, this can be very emotional.) If you can close on the purchase without selling your
New construction sales decreased 12% from February 2013 to February 2014 and the average price of a new home increased 18% to $306,780. New home prices over the last twelve months were 32% higher than resale homes.
One thing is clear: the market needs more resale listings and the listing season is upon us.
Market Statistics Report Date: February, 2014 Area: Ada County Report Criteria: Single Family, Single Family Acreage (max 2 Acr), Condo, Townhouse Age: All Ages
Minimum: 1bed, 1bath, $2000 asking price Inventory Trends
1600 1400 1200
if your home is more likely to sell sooner than the seller’s home. In a market where there is a shortage of homes, a seller may be reluctant to
1895 1865 1925 1758
Inventory Analysis Active Listings
2383 2518 2632 2569
2081 2065 2117
Months of Supply
Feb, 13 Mar, 13 Apr, 13 May, 13 Jun, 13 Jul, 13 Aug, 13 Sep, 13 Oct, 13 Nov, 13 Dec, 13 Jan, 14 Feb, 14
home before your home sells, your Group One agent can discuss the options available to you, including the advantages and disadvantages
1000 728 669 1000 632 612 608 400 486 415 442 500500 200 1053 1263 1434 1453 1381 1263 1071 929 913 860 713 790 928 0 0 0
Generally it makes sense for a seller
www.Group-One.com (208) 939-8000
as of 3/05/14
as of 3/05/14
Closed Sales 1 Avg # % CDOM Distressed Distressed 56 506 23%
the contingency. It is common for a seller to request additional earnest money – and possibly the release of all earnest money - upon withdrawal of the contingency so that you have more to lose should you back out after the seller has let
Normally a drop in same month unit sales could signal a turn in the market, but the decreased availability of the lower-priced distressed properties may simply signal a continued return to a more normal market.
Average based on Closed Sales 1
Price per SqFt 94.48
$150 - $199K
$200 - $249K
$250 - $299K
$300 - $349K
$350 - $399K
$400 - $499K
$500 - $599K
$600 - $799K
$800 - $999K
Closed Sales from 3-01-13 to 2-28-14 The information provided herein is derived from the Intermountain MLS and is believed to be accurate and reliable, but cannot be warranted by Group One.
Months of Supply = Active Listings / Average # closed sales each month over past 12 months. Report Data Pulled March 5, 2014
Once the seller accepts a back up
By: Lisa Kaplan Gordon Published: April 05, 2012 From House Logic.com
Cleaning Your Kitchen Appliances the EASY Way! If Mr. Clean isn’t magically popping into your kitchen to make it sparkle, you still can get that clean satisfaction with these easy appliance cleaning tips. Nothing makes a kitchen sparkle like clean appliances. So if you don’t do anything else to spring clean your kitchen, at least
The space behind your fridge is arguably the dirtiest couple of square feet in your house. It’s a make it easy to push and pull the fridge, but if yours doesn’t, try some furniture moving discs. Vacuum refrigerator coils behind or beneath your fridge. Doing so will prolong the life of your fridge. For heaven’s sake, toss that bag of frozen artichoke hearts that’s been in your freezer since forever. Think like it’s your closet: if you haven’t eaten it in a year, or don’t know what the heck it is, throw it out or add it to your compost pile. Replace door gaskets that have loosened because their inner magnets have lost their pull. You’ll energy (http://www.houselogic.com/green-living/saving-energy/), too, with a tighter seal.
Your stovetop and oven
Most ovens have self-cleaning options. We heartily recommend letting the oven do the work for you. But there are few spots the self-clean option doesn’t reach, such as the gunk around door hinges and frames, and the crumb-catching space between double ovens. Once you get those clean, make a habit of wiping them down quickly after using the oven, and you may never have to scrub it again. then clean. Repeat if necessary. Replace stained, metal drip plates beyond the help of steel wool. Use your vacuum to get crumbs that have fallen in cracks.
You think you wouldn’t need to clean your dishwasher since it’s cleaned every time you use it. But you should check the drain in the bottom of the machine for debris, and clean gaskets around the machine. Deodorize it by placing a bowl of white vinegar on the top rack, and run for a full cycle.
Your microwave and let sit for a few minutes more while steam to loosens particles. Wipe clean. Ta-da!
Unplug your toaster, pull out and wash its crumb catcher, and shake the machine over the sink to get rid of food. Dry thoroughly before plugging back in. To remove mineral deposits that can clog your machine, pour a 2:1 run the solution through the machine. Then run clear water through twice to remove the vinegary taste. pitcher, etc., with stains - is to cover the bottom with table salt, add ice cubes, and when they start to melt swish around for a couple of minutes. Then rinse.