Posts Tagged ‘Boise Real Estate’

Wilderness Ranch 2015 Report

February 29, 2016

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The Annual review of Real Estate sales in Wilderness Ranch and East Boise County for the 2015 year and the 2016 Forecast.
By: Paul Heim & Darcelle Sander of The New View Team at Silvercreek Realty Group

News and Headlines: Idaho Ranks #1 in Job growth at 4.7%.  Boise makes headlines again for best places to live.  Want to learn how Boise ranked nationally for 50 various categories such as ‘Most Caring city’, to ‘Most Artistic Mid Size City’ to ‘Healthiest City for Women to live’?

Great article can be found here showing where we ranked. http://www.bvep.org/facts/national-accolades.aspx


Year at a Glance:

graph$0 – $69,999 = 9
$70,000 – $89,999 = 4
$90,000 – $99,999 = 2
$100,000 – $119,999 = 13
$120,000 – $159,999 = 9
$160,000 – $199,999 = 15
$200,000 – 249,999 = 14
$250,000 – 299,999 = 7
$300,000 – $399,999 = 4
$400,000 – $499,999 = 6
$500,000 – $599,000 = 2
$600,000 – 699,000 = 0
$700,000 – $799,999 = 1
$800,000 – $900,000 = 1

graph2East Boise County Statistics
Sales Price VS. List Price 96.5% of list price
Average Days on Market 109•    There were 89 home sales in 2015 out of 143 listings.   That is close to a 63% absorption rate and ahead of 2014 by 13%
•    Of which 3 were Short Sales
•    13 of the homes sold were Foreclosed or HUD Home sales (distressed) on par with 2014
•    5 Current Pending Sales as of Jan 21st 2016
•    Highest priced sale $825,000 in Rocky Canyon and lowest priced $40,000  with 800 sq ft in Clear Creek area
•    31 Active listings as of this report
•    Average Days on Market (DOM) 105 days
•    Average list price to actual sale price was only 3.5% difference

We were privileged to be part of the great sales in Wilderness Ranch in 2015 and we look forward to many more slated to close by Spring 2016.

trends

Wilderness Ranch Statistics

• There were 15 Home Sales out of a Total of 24 Listings. Plus counting 3 pending sales in 2015 that closed in January 2016 that is a 75% absorption rate
• One Short Sale
• 3 of the homes sold were Foreclosed or HUD (distressed) of which one is pending still
• 3 Current Pending Sales as of Jan 21th 2015
• Highest Priced sale was $389,900 and lowest priced sale was $110,300 (HUD Home)
• Average non distressed home value was $282,927 up from 2014 average of $236,356
• With a average price per square foot of $121.72 up from 2015 average $118.36
• Average list price to sale was around 2.2%
• Currently there are 3 active home listings
• Average DOM, 93 days

bannerGeneral News and Local Economic Forecast:
2016 Forecast:  The Treasure valley is expected to see continued growth in the Real Estate Market but not as robust as the previous year that experienced double digit gains in some areas.  However last year was a pretty exceptional year.  For 2016 expected growth rates of 6 to 7% are predicted for the Treasure Valley, and if that holds true, it validates we are moving into a more stable and sustainable market.

Activity seems to have started early this year.  In January we closed two properties in Wilderness Ranch and put four additional pending. Already seeing some song birds and robins in abundance so maybe nature is predicting an early spring.  That would be welcoming.  If you’re considering Selling we are recommending to start early this year.  If you would like a free evaluation and consultation of your property on how to prepare your home prior to selling then call or write anytime.  Always happy to help.  We invest a lot into the community and want you to get the best back.

Interest rates are still being held low artificially, but consensus is we will see mortgage interest rates climb this year to around 5% to 5.25% which historically is still very low.  However if you were thinking of refinancing, this spring would be a good time if you have been procrastinating.

We are always easy to reach, so write or call. Often we may be driving up in the hills in Boise County but leave a message and we will always respond back quickly.

To stay up to speed remember to visit Idaho Mountain Real Estate and for Boise County in general visit homes in boise county and if you get a chance stop in and please give us a like on facebook www.facebook.com/WildernessRanchHomes .

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How to Prevent Becoming an Overwhelmed Home Shopper

May 2, 2014

Searching for a new home, while exciting as it can be, often can be a very emotionally exhaustive exercise for a Buyer.   How does a Real Estate Agent help a buyer with ‘Home Shopping Fatigue’?

Don’t know if you have ever had a chance to dine at the Cheesecake Factory.  Wow what a menu!  Choices upon choices and more choices; in fact about 50 pages of them.   As intoxicating as that may sound, you can spend a half hour just trying to decide what to order.  My waiter comes back after about five minutes and says ‘Are you ready to order yet’?  and I have to tell him “I’m only on page five of ten of the appetizer section of the menu sorry”.

Where an agent brings value to his client is by quickly learning and understanding the needs and wants of a buyer, which can often be two separate things.

The problem lies here: ‘What a Buyer doesn’t know, he doesn’t know’. An experienced agent realizes that a buyer often starts with an idea or picture in his head, but after viewing actual properties their ideas, needs and wants will tend to evolve.  It is important to listen and ask thought provoking questions which will require the Buyer to honestly evaluate and discern where they can be flexible and where they cannot.  No home will ever give you 100%, even if you build it from scratch, after you were done there would be things you wished you did different. Try this with each property:

  • A good technique is to give each home a nick name.  That will help you better recall them, because after viewing a number of homes they can blur.
  • Rate each home 1 to 5 stars and half stars count, even quarter stars if need be.  This will assist in the process of elimination as you rehash the homes you visited.  It will also help clearly define which things on the list are more important.

Once you have a clear picture of their needs, wants and desires, you as an agent can assist them by narrowing the search criteria to homes that will conform more closely to the items they cannot compromise on. Remember that your client is not just buying a house, their buying a home.  Happy House Hunting!

2012 Wilderness Ranch Idaho Annual Real Estate Sales Report

February 4, 2013

NewViewFBLogo                                                                     

Our Annual Review of Real Estate sales in Wilderness Ranch for 2012 and your 2013 forecast.

By: Paul Heim & The New View Team

Wow what a year!  While I had forecasted in last year’s report that we had passed the bell curve and would see an increase in market values for 2012, the market surpassed what anyone had expected or predicted.  We saw an unprecedented turn around in the Treasure Valley real estate market.  Overall values increased anywhere from 10% to 15%. These gains were primarily in homes under $350,000 but higher priced homes benefited also.

What were the causes and effects?  What we witnessed was a market correction.  It showed that homes had become undervalued.  I like to use the Circuit City analogy.  ‘Best Buy won the war’, … however I would bet Circuit City had way more customers the last four months they were open during  their  ‘Going Out of Business Sale’.  Best Buy had no way to compete with their prices those last months, but after their biggest competitor was finally gone, they knew they would see a spike in their growth and profit.

Likewise, as the banks ‘Going Out of Business Sales’ (foreclosed homes) were nearing a completion, the average seller was not able to compete with these prices.  We then entered a period of contraction.  This simply means we had more buyers than available listed properties.  Supply and demand rules ensued.

With the low inventory of listings on the market, we often dealt with multiple bids in the Valley when homes were priced competitively.  But how did Boise County and Wilderness Ranch fair in comparison? 

In 2012 East Boise County finally crossed an important barrier.  For 18 months we had no sales over $230,000 and that was causing difficulty in appraisals.  Not that the value wasn’t there in higher priced homes, just that appraisers couldn’t validate them for the lenders and the lenders need the appraisals to issue the loans.   The New View Team was able to complete two high-end sales (Boise County, but not in WR) very early spring, (cash deals) that helped remove that barrier and set precedence for every other sale and refinance that occurred moving forward in 2012.

Boise County tends to lag behind the Boise Valley (Ada County) by six to twelve months typically.   The Boise Valley saw a noticeable turn in the market starting the fourth quarter of 2011 so we anticipated it to carry over to Boise County by spring, but as summer set in it happened better than anyone had expected.  No complaints here!

Here are some graphs to illustrate key trends in the Boise Valley and East Boise County Real Estate Markets

Idaho Mountain Real Estate Stats

Homes in Idaho

How home sales compared in Boise County Idaho and Wilderness Ranch 2003 through 2012

2013 Forecast:

Boise is still seeing a contraction as developers try to re-group and get approval on new parcels through the hoops of planning and zoning for building.

I expect to see more homeowners (who were previously tight on the current value vs. what they owe) attempt to list in 2013, now that values have increased.  Nationally, home prices are predicted to increase 1% to 3%, but I predict Treasure Valley real estate increases to be somewhere between 3% to 5% conservatively.

In part, this projected increase will be due to a rebound in land values, which affects ‘over all’ home values.

Boise County, I believe, will see the START of a land recovery in Spring of 2013.  Whether it will do as good as housing did in 2012 is yet to be seen.  If you are looking to invest, then NOW may be a good opportunity to consider land, prior to a potential rebound.

I would suspect we will see more building and new construction homes taking place in Boise County in 2013.

There are some other exciting things happening in Boise County potentially for 2013 and we will keep you updated with them as the year progresses.  Some highlights are:

–          The opening of the Hot Springs in Idaho City which will help this end of the county economically.

–          Dr Matt Nelson’s new Family Practice office, which will be located directly across from the old Rock’s Lodge.

If you have any real estate related questions, please feel free to call or email us anytime, or visit our website!  We would love to hear from you.

Paul Heim & the New View Team

(208) 344-5700 – office

(208) 794-8175 – Paul Mobile

http://www.NewViewRE.com

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.

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.

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.

Idaho Real Estate Updates

October 7, 2010


SEPTEMBER – 2010 Newsletter Housing Trends eNewsletter


Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.

Please click here to view the SEPTEMBER – 2010 Newsletter Housing Trends eNewsletter.

If you are interested in determining the value of your home, click the Home Evaluator link for a free evaluation report.

Boise County Homes- Living the Idaho Dream

January 23, 2009

Click Here - Boise Home Search

Click Here - Boise Home Search

by: Paul Heim

 

Do you dream of a Home in the Mountains, living amongst the trees, surrounded by the wonders of nature. All too often such locations are too remote for year around living. Look no farther, the Boise County area is a short drive to the city of Boise Idaho & offers the best of both worlds. Where as an everyday occurrence, the beauty of nature is right in your backyard.  Boise County Homes offers a number of Subdivisions and communities to choose from.  Some premier Subdivisions are Wilderness Ranch, Duquette Pines, Osprey Meadows, Elk Run, Elk Meadows, Timber Mountain & Robie Creek.  Some of the communities are idaho City, Placerville, Centerville, & Clear Creek.  Please contact Paul Heim for Boise County Home Information 208 344-5700.

Boise County sports a variety of recreational activities and wildlife to enjoy such as but not limited to;

 

Geography 

Boise County, Idaho consists of approximately 1,908 square miles, with elevations ranging from 2,700 feet to over 10,800 feet above mean sea level (amsl). The mountainous terrain of Boise County includes the Boise River Mountains, the southern end of the Salmon River Mountains, and part of the Sawtooth Mountains. Federal or State managed lands constitute approximately 84% of the County and border much of the remaining 16% land base that is privately owned. Counties that border Boise County include Ada County, Gem County, Elmore
County, Valley County.
If you would like to know more details and demographics for Boise County please CLICK HERE

If you would like more information regarding Boise County Homes & Property contact Paul Heim today (208) 344-5700 or visit http://www.paulsidahohomes.com

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Discover Boise Idaho Real Estate

January 23, 2009
Click Here - Boise Home Search

Click Here - Boise Home Search

Assisting individuals discover the benefits of Idaho Living.  If you would like to discover what Boise Homes have to offer,  visit http://www.paulsidahohomes.com for Boise MLS Home searches and area information.  Covering the entire Treasure Valley AreaContact Paul Heim today for more information 208 344-5700 buyboise@gmail.com

Idaho is an amazing State. If all the lower 48 states were ironed out flat, Idaho would be the largest; its rugged terrain with towering cliff sides, pine-forested peaks and deep canyons make Idaho’s natural scenery one of the wildest and striking in the U.S. The southern half of the state is much lower in elevation compared to the north. The Snake River forms the western border with part of Washington and Oregon before turning into the state and bisecting the southern half, meandering through the fertile Snake River Plain in the eastern part of the state. The Bitterroot Range serves as a natural border with Montana, and further east, the Clearwater and Salmon River mountains extend for miles into the some of the most isolated regions in America.  If you would like more information regarding Idaho please visit http://www.statemaster.com/state/ID-idaho

For images of Idaho’s majestic features please visit the Photo Book of Idaho Images

Idaho is a life time worth of living,  Experience the difference. We’re committed to helping you find a home to place your heart. In Idaho HEIM = HOME

Paul Heim, Silvercreek Realty Group Call today 208 344-5700 or email me at buyboise@gmail.com


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