Ultimate Idaho Buyer's Guide 2024 - The Archibeque Group Real Estate at Silvercreek Realty Group

Idaho Buyer’s Guide

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#1 Market for Out of State Homebuyers

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Most Beautiful City in the U.S. MyDomaine | August 2019

Top 100 Real Estate Agents on Social Media (Vince and Lisa #90) PropertySpark | June 2018

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Best Rocky Mountain Towns Outside Magazine | June 2019

Top Biking Cities in the West Sunset | April 2019

Best Cities for Manufacturing Kempler Industries | March 2019

EXPERTISE & EXPERIENCE

Our national reach and local knowledge provide a great platform for your home buying experience. Boise Valley neighborhoods offer a vibrant lifestyle second to none and Idaho is one of the best places in the world to live.

Passion for Real Estate is a core value at The Archibeque Group.

There are many REALTORS® out there and we want to earn your trust.

Buying a home is one of the most important decisions you can make in a lifetime. We approach our real estate business with integrity, honesty and vigilance while guiding you through this challenging and fun process every step of the way.

www.VinceandLisa.com

Buying a home is one of the biggest investments and financial decisions you can make. While it is a major commitment and responsibility, it is also a very exciting time in your life. We’re ready to play a part in it all and have the privilege of handing you the keys to your new home!

Let’s not forget that buying a home is sometimes a confusing process. REALTORS® Vincent and Lisa Archibeque will work efficiently to make sure your experience is as rewarding as possible.

This guide was designed to inform you about every step leading up the purchase and to explore your expectations. #VinceAndLisa

FINANCIAL REASONS TO BUY A HOME A recent study revealed five financial reasons why you should consider buying a home: 1. Housing is historically the one leveraged investment available due to its potential appreciation & equity 2. You’re paying for housing whether you own or rent 3. Owning a home is a form of “forced savings” 4. There are substantial tax benefits to owning 5. Owning a home now is a hedge against inflation like, rising rents, rising mortgage interest rates & potentially, less buying power

In many Boise metro communities, the available inventory of homes is low in all price points.

When you find a home online or while driving around, please send it to our email Vincent@TheArchibequeGroup.com or text/call (208) 505-7783.

We will arrange a showing time to view the property.

Let’s Chat About It

We became full-time REALTORS® because we knew we could improve our industry. When we bought our first home in the 90s, we were impressed with the overall experience because we hired a REALTOR®. We vowed to become real estate agents that buyers would want to hire when purchasing a home. We sincerely look forward to making your homebuying experience smooth and seamless. Our goal is to become your REALTORS® for life.

The Archibeque Group ”Where Clients are Like Family, Come Join Our Family” Top 25 Real Estate Slogans to Inspire You (Vince and Lisa #19) AgentFire | Jan 2021

ADVANTAGES OF BECOMING OUR CLIENT Entering into a Buyers Agency Agreement in Idaho has countless

advantages. When you sign the agreement you are simply hiring a personal representative who, by Idaho law, negotiates, maintains your confidentiality, and promotes your best interest in good faith, honesty, and fair dealing, before, during and after a real estate transaction.

When you work with us, you will have professional, full-time REALTORS® devoted to protecting you. In today’s environment, one mistake in a real estate transaction can cost you thousands of dollars, or worse, the possibility of not getting your dream home. It is another reason why a Buyer’s Agency Agreement is the best way to ensure that you are properly protected and represented during the entire home buying process.

As REALTORS®, our commitment to each Client is to leverage all of the resources, knowledge, tools, and experience we have in order to find the perfect home within the time period and price desired. We treat each purchase as if it were our own, giving our Clients peace of mind knowing that every due diligence date and detail are being handled with care by us. Our proven system eliminates confusion, stress, and anxiety.

Whether you’re a first-time home buyer, building a new home, or buying a pre-existing home, hiring a Top Producing Buyer’s Agent is an essential part of making sure that your experience is educational, enjoyable, hassle-free, and, most importantly, productive.

“Vince and Lisa have been proud homeowners since the 90s and would be honored to share their success stories.”

LOAN PRE-APPROVAL According to the most recent statistics, six out of ten Buyers finance their home purchase. If you are not paying in cash, getting a pre-approval is important because it allows you to know which mortgage (a loan package with lowest cost and best terms) is right for you. With certainty, you will know which mortgage terms are in your best interest and exactly how much home you can afford to buy.

Your lender will provide a pre-approval letter that shows your buying power. You are free to visit as many lenders as you like but keep in mind that each one carries with it a new credit inquiry, which may show up on credit reports. Although the pre-approval is not a final loan commitment, it is provided to the Sellers when you make an offer on a home. It demonstrates your financial strength and shows your ability to successfully complete the purchase. This information is important to Sellers since they do not want to accept an offer that is likely to fall through because buyer financing cannot be obtained.

WHAT TO EXPECT IN THE CURRENT MARKET Navigating and understanding the psychology of the market can be very complex. In your search for a home, it is likely you’ll come across different types of Sellers. Each one will have different closing time frames, negotiation styles, pricing strategies, previous biases, and deadlines for accepting your offer. Without knowing the varying characteristics of the different types of Sellers, it can be frustrating as a Buyer.

One distinct challenge of our current market is low levels of inventory in select areas and price ranges.

There has never been a better time than now to work with proven, top producing REALTORS® Vincent and Lisa Archibeque, who are committed to your home buying success.

Basic Timeline of Events •

Search for your new home.

•

When you’ve found “the one”, we submit your offer and begin negotiations.

•

When the offer is accepted, you are “Pending” and we turn in all paperwork to the lender, title company, & real estate brokerages.

•

Your Earnest Money is deposited with the title company and we help you coordinate the home inspection.

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We negotiate any repairs with the seller based on the home inspection. The lender orders the appraisal once we are past this inspection phase.

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A lot of “behind the scenes” work is conducted to ensure all documents are ready to transfer ownership of the home from the seller to you.

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We do a final walk through to inspect the home prior to closing.

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We close (fund and record) on your new home!

As your full-time REALTORS®, Vince and Lisa will prepare and present the offer that you wish to submit to a Seller.

Be prepared that if we are in a highly competitive area or in a multiple offer situation, our offer might be ignored or passed over unless it is high enough or has terms good enough to get the seller's attention and beat all other offers. No one wants you to pay above asking price, and there are scenarios where offering list price or above is the only way to beat the competition.

Let The Search Begin Vince and Lisa will be with you every step of this process as your advocate, consultant, and friend. The Archibeque Group will provide accurate information so that you can make informed financial decisions.

This is more than real estate, it’s about your life and dreams.

FIRST:

BUYER PRESENTATION CLOSING DAY! FINAL WALK THROUGH

WANTS AND NEEDS CHAT ABOUT PRE QUALIFING

CLEAR TO CLOSE

GET PRE APPROVAL LETTER

FULL LOAN APPROVAL

DISCUSS TIME FRAMES

CONTINGENCIES

HOME SHOPPING

PASS APPRAISAL

LOCATE ‘THE ONE’

HOME INSPECTION

NOTIFY ‘TEAM’ OF OFFER

MAKE AN OFFER

ACCEPTED OFFER

UNDER CONTRACT • PENDING • IN ESCROW

Which Home is the Right One? We’ve made a commitment to help you find a home that suits your wants and needs, so now it is time for you to articulate exactly what those wants and needs are.

By sitting down and considering the kinds of things you’re really looking for, our consultative methods will save a lot of time and frustration by avoiding houses that aren’t for you.

What Are You Looking For? HOME TYPE ☐ Single Family

INTERIOR FEATURES Minimum sf:

☐ Duplex

Maximum sf:

☐ Condominium

☐ Carpeted Floors

☐ Townhome

☐ Hardwood Floors

☐ Mobile Home

☐ Fireplace

LOT FEATURES

COMMUNITY FEATURES

Smallest yard size:

sf /acre

☐ Pool Club House

Largest yard size:

sf /acre

☐ HOA

☐ Fenced

☐ Park/School

☐ Yard

☐ Other _________________

☐ Garage

NOW THAT YOU’VE DETAILED your ideal home, it’s time to put your priorities in order.

What is the most important thing for you and what areas can you compromise?

Chances are that the perfect home for you won’t be exactly what you put down on paper.

Rank these four areas of your home’s features/benefits from 1 to 4, 1being the most important, 4 being the least important: price, location, size, amenities & design.

Price: ________ Location:__________ Size:_______ Amenities & Design: __________

Frequently Asked Questions Where does my Earnest Money go?

When you submit an offer on a property, you remit your "good faith" funds to the seller along with the offer. This check is deposited into a trust fund account at the title company that will be handling the transaction.

The earnest money funds are held in this non-interest-bearing account until closing day, and are applied toward your loan and closing costs.

Why would I offer more than List Price?

The truth is, every real estate market is different. In greater metro Boise, we are experiencing a shortage of available homes in some areas. This means there is much greater competition among buyers who are all vying for the same properties. Sometimes, if you come in too low with your offer, chances are that there may be other buyers who are also going to be submitting an offer. In this case, a "multiple offer” scenario is born, and the seller is under no obligation to respond to your offer if there are a handful of other offers from which to choose.

Getting to the Finish Line

Before we can close on the purchase of your new home, we need to take some steps to make sure the purchase is a sound decision.

STEP 1 – Buy with Confidence It is important to consider all your priorities when searching for a home.

Which features do you want, and which features do you need? For instance, would you trade fewer bedrooms for a larger kitchen? A longer commute for a bigger lot, or lower cost? You’ll want to consider all your needs in advance.

We will work closely with you to help narrow down your selection of homes based on your criteria. This will help us to quickly identify and suggest homes that will fulfill your needs. The market is always dynamic which is why it is so important to have full-time professionals working for you who monitor the market daily and can quickly identify new homes to the market that fit your needs.

How To Determine an Offer Price STEP 2 – Offer with Expertise The price you offer for a home is based on a wide variety of factors. These factors are specific to the local market, your financial situation, and the determined market position of the identified property.

Other factors may include days on market, the condition of the home, desirability of the neighborhood, sales price of comparable homes, the resale potential, and the Seller's motivation level. We use specially-developed tools to help you get the home you want at the best price possible. We have immediate access to relevant information about the Boise-area real estate market, in addition to specific data for your preferred neighborhood or community.

Our qualified home assessment or “CMA” will be used as a guide in making an offer that is in tune with current market dynamics. Our access to tools and data will help identify and take into account all factors that could impact a home’s valuation and potential purchase price.

Once Comparative Home Analysis is complete, we will work closely with you to help you decide on the best price to offer the seller to achieve your goal. There could be low inventory conditions, competition, seasonal trends, neighborhood amenities, and other factors that can impact demand. Proximity to schools, parks, shopping, and transit can play a significant role in determining the best price to offer that supports your requirements.

We will be with you every step of the way!

STEP 3 – Managing the Pending Process When a Seller accepts your contract to buy their home we say that the home and offer is “Pending”, “under Contract” or ”in Escrow”. There are sequential steps that must be completed before the purchase is complete, which happens before the “Closing”. The steps include: Title Commitment This is a search and examination of the public records for matters affecting the title of the real estate being purchased. It may include looking for unpaid taxes, easements, names of people on title, outstanding liens, outstanding debt and other mortgages.

Home Inspection A Buyer is able to hire an unrelated, third-party to the transaction to physically inspect the condition of the property within a certain amount of time while under contract and pending. These home inspectors will inspect the roof, the attic, the crawlspace and all rooms of the structure.

It is strongly recommended that you attend the inspection or at least the tail end. You may have questions regarding the home and will have the opportunity to ask the inspector. The typical inspection takes approximately 1 to 2 hours and the cost is your responsibility as the Buyer. Every inspector is different and the time it takes depends on the square footage and acreage of the property. At the conclusion of the inspection, the inspector will give you a detailed report of items found that may be of concern. These items can be addressed with the Seller as an addendum to the purchase agreement during this inspection phase.

STEP 4 – On the Way to Full Loan Commitment Appraisal An appraisal is a standard part of the lending process once the transaction is past the home inspection phase. Banks and mortgage companies will grant their loan based on the appraised value of the property, since the home will be used as collateral for the mortgage. Appraisals performed by a statelicensed Appraiser have more detail than our Comparative Market Analysis.

The Appraiser will compare the subject property with several similar properties in the surrounding area that have recently sold. For that comparison, the Appraiser will highlight any positive or negative aspects affecting the market value – like, physical condition, deferred maintenance, location, amenities, and neighborhood conditions.

Loan Conditions/Closing Disclosure When the lender has final loan approval, a closing disclosure is provided to the Buyer three days before closing. This is a document which states the terms under which the lender agrees to make the loan.

It will include the interest-rate, length of the loan agreement, and any requirements the Buyer is expected to meet.

Final Walk Through As a Buyer, you will be given the chance to look at the home in person (“Walk through”) a few days before closing to make sure it is in the same condition as when you first saw it and signed the purchase agreement.

STEP 5 – The Closing: Your Signing and Funding & Recording Closing brings all parties in a real estate transaction together.

In most cases, you will go to a Title Company during regular business hours to sign the paperwork related to your purchase.

The signing takes about an hour and will be conducted by a trained representative of the Title Company.

In anticipation of the closing date, you will need to switch utilities into your name (notify utility companies of closing date), update your accounts and coordinate your moving schedule.

After the signing and upon the Lender’s OK to Fund (or when the funds have been transferred for a cash sale), Title will compile all the documents needed to transfer title of the property and prepare to record those documents with the county. We refer to this process as Funding and Recording.

The Seller receives their payment for the home and the Buyer becomes the new owner once the funding and recording of the deed has taken place. This is when you officially own the home and can get your house key to move in.

Vince and Lisa will call you to say,

“Congratulations, We’ve Officially Funded and Recorded!

You own a Home!”

Coming in from out of state for the weekend and not knowing anything about the area, Vince and Lisa didn't just show us houses, they showed us the town and our new home! They were friends from the start and had our best interest and our "must haves" right out of the door. Not only do we love our new home, we stay in touch with Vince and his lovely wife Lisa because they are our friends! Amazing to find a realtor who could welcome us to our new home like the Archibeques! - Wyndi and Mike H. I loved working with Vince and Lisa; they really helped me to find my ideal home. They were great to work with and very quick to help with all of my questions, since this was my 1st time buying a home. I was never left waiting for an answer and they both anticipated most of my questions before I even asked; even some that I forgot to ask with certain properties. I would definitely recommend working with the two of them to anyone looking for a home! - Anjee U. Vince was great to work with when my wife and I were searching for our 1st home. When we 1st met with Vince, we set our parameters for the type of home and price range we were looking for and he ran with it. Vince has great local knowledge and was able to point out all the pros and cons of the houses that we walked through. He’s upfront and honest and was a great person to have on your side as we went through the home buying experience. - Matt & Leah J. Vince was absolutely amazing in helping me find a house, especially since I was moving from out of state. He was always readily available to answer any questions or concerns I had, and he made the entire purchase process easy and simple. I have and will continue to recommend Vince in the future. - Bryan H.

Thank you for your referrals!

Vincent and Lisa Archibeque are full-time REALTORS® who will handle all of the details of your home purchase in the Boise area. Vince and Lisa are Accredited Buyer’s Representatives - ABR® and have extensive experience with multiple offer dynamics in the current market. They are partnered with Silvercreek Realty Group, one of the best LOCAL brokerages in the Treasure Valley.

Who you work with matters. You’ll be glad when hiring Vince and Lisa, who can be trusted to be there for you at every step of your home buying journey.

Contact Vince and Lisa or visit www.TheArchibequeGroup.com to start looking for properties, from your computer or phone, with new listings coming on every few minutes.

Call Today (208) 505-7783 or (208) 505-7782

We Believe We understand that purchasing a property brings with it a multitude of emotions. We created this great guide to assist you in understanding the entire process from the buyer consultation all the way to the closing table. Our goal is to ensure your transaction is as seamless as possible.

We pride ourselves on being experienced professionals who have a passion for real estate, have dedicated our time and talents to serving the community, and will represent your interests with the utmost integrity.

We believe every client deserves a top notch real estate experience based on a foundation of trust.

Thank you for your business!

Associate Broker REALTOR® Lisa is solution based and will work tirelessly to make sure that her client’s goals are always being achieved. Her genuine joy is ensuring that clients always have a top-notch experience which makes her the easy choice when looking for a great real estate agent.

REALTOR® Vincent embodies customer service and believes that it is his duty to deliver a client experience several levels above what is normally considered excellent service.

• • • • • • • •

Military Relocation Professional (MRP) - Vince Pricing Strategy Advisors (PSA) Accredited Buyer’s Representatives (ABR®) Seller Representative Specialists (SRS) Short Sale and Foreclosure Resource (SFR®) - Lisa Women’s Council of REALTORS® Past Local President – Lisa Boise Regional Realtors® Top Producers Idaho Realtors® and National Association of REALTORS®

We appreciate your business and referrals!

We are full-time, Idaho REALTORS® who are passionate about helping our clients achieve wealth through real estate.

The Archibeque Group Real Estate at Silvercreek Realty Group BOISE • EAGLE • MERIDIAN • NAMPA (208) 505-7783 Vince | (208) 505-7782 Lisa | Vincent@TheArchibequeGroup.com | www.VinceAndLisa.com