Archive for the ‘business’ Category

Where Is Your Real Estate Mind Set?

June 15, 2012

I recommend anyone looking to buy a home in the near future to read this article “Mistakes homebuyers make as seller’s market looms”  as it touches on many vital points to consider.  Buying today has changed and those who are slow to change their mindset may find themselves frustrated and discouraged.    Currently the market has made a fundamental shift but it is easy to stay caught in an old mindset.  The ‘Buyers’ market in many areas has all but diminished for now.  Where the future goes time will tell.

A couple of my favorite highlights in the article are;

  • Some buyers don’t realize or can’t accept that the market has changed, real estate agents and analysts say.
  • “Right off the bat, buyers say, ‘I want a steal,’ and I tell them they have to wipe that word out of their vocabulary,”
  • WAITING TO GET PREAPPROVED FOR A MORTGAGE BEFORE STARTING THE SEARCH: During the boom years, buyers didn’t worry about arranging their financing up front because mortgages were easy to get. Not so anymore.
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Idaho Statesman reports about the recent real estate frenzy we are feeling in the Boise Treasure Valley area.

June 15, 2012

The Boise market has really been heating up.  An article written by the Statesman “Shortage of homes for sale creates fierce competition”  describes the current conditions we also are experiencing here.  Their article  refers to the L.A. area but mirrors the same frustrations many buyers are having here in Idaho.

Recommended reading.  There are a number of factors that are contributing to this in the treasure valley;
  • We are experiencing an all time low of viable home listings, so the law of supply and demand takes affect.
  •  Boise is an influx city with predictions of continued growth through 2020.
  • Many people are still migrating here,  a high number of which are either newly retired, about to retire in the next year or two and/or semi retired and buying now.  The upside to this is the strong capital they bring to the market as they generally either buy out right or borrow very little on a mortgage.  This in turn helps create a solid foundation in the market.
  • Boise also offers a lot of amenities for families.  I have dealt with many that have relocated here specifically because the environment fosters a great atmosphere to raise their children.
  • Cost of living is reasonable and very moderate compared to most other cities with a major airport.
  • Boise offers a mix of values and services that appeals to everyone but still maintains that small town politeness.

Boise is the only place I ever lived where I look forward to coming home from vacation.  Please let me know how you feel about Boise life and what are your predictions.  I look forward to viewing your opinion.

National Real Estate trends that may be indicators of things coming.

May 24, 2012

It’s always interesting to watch regional trends as they can be indications of what will happen here in Idaho.  A colleague of mine in South Florida, Jeff Lichtenstein reports good news from the sunshine state.  Florida was the epicenter of speculation.  There still is a 3 year backlog of foreclosures and plenty of short sells still to go but the worst is past.  Jeff also can tell you a lot of the red tape of short sales since he experiences them first hand in Florida. Check out his blog to read all about it!

To learn more about what the area Jeff covers has to offer in amenities check out the Palm Beach Post

Jeff  specializes in luxury real estate in Abacoa  and  Jupiter real estate in South Florida.  His website is at www.JeffRealty.com

Real Estate Rental Investments Boise Area

May 15, 2012

If you invest in rental properties than now is actually a very good time to buy additional units. With so many people who suffered the loss of their homes in the down turn, they are predicting a shortage of availability in rental units and for rents to increase in conjunction.  The expectation is for a strong rental market for the next five years.

I have seen many multi unit, bank owned properties at great rates. You can investigate the Boise Idaho area and search the Boise Idaho Area MLS to find options that may work for your investment interests.

Good News for Idaho home buyers- Rules for FHA Lending have loosened.

February 13, 2011

Wanted to share an important article about FHA lending.  Many first time home buyers in the Boise Idaho area have had some difficulties acquiring mortgage loans as FICOs and FHA requirements were not compatable.  Previously credit scores were needing to be 620 or higher.  Seems some rules have changed without much fanfare or notice to the general public.

The article : FICOs and FHA: 2 big lenders loosen up explains how the new changes will affect you if you are a home buyer in Idaho needing and FHA loan and/or if you previously could not qualify you may want to check with your lender to see if your situation now qualifies you to purchase a home.

Call or write if you ever have questions about real estate in the Boise Idaho Treasure Valley area.