Hitler vs. The Housing Market
Posted on November 24th, 2008 by Boise Real Estate
Good News for the Boise Home Market?
Posted on November 21st, 2008 by Boise Real Estate
The Idaho Business Review had an uplifting article yesterday. They reported on the Idaho Housing and Finance Association executive director Gerald Hunter’s talk at the 2008 Economic Outlook Forum here in Boise. Overall, Hunter believes that if we look at the long term picture of our housing market, we are still in good shape. Comparing recent sales statistics with those over the past 10 years, we are still among the national average for valuation increase. Yes, increase. Over the last ten years we have still averaged a 5%+ annual increase in home prices. If we forget about those two fluke years (05/06), we’re doing great. Say you bought before the boom, left the country for two years and came back, the market would seem just as normal as ever.
The unfortunate part is that many people bought during those two years so none of this 10 year average nonsense matters to them. Well, the good news is that worst may be over. According to Hunter:
“If you use that benchmark [referring to the annual growth increase], you may have to conclude that Boise has made its way through the housing bubble.”
This is not to say that we’ve reached “the bottom,” but it is a good sign that we are close. Close enough, in fact, that any attempts at timing “the bottom” may be fruitless. Over the next year as we approach the bottom (right now), reach the bottom (soon), and start to see price increases again, it may all blur together. There won’t be a specific day that we can call the last day prices dropped. And again, we won’t be sure we’ve hit the bottom until it has passed.
Remember, many of the issues we are facing today were caused by people planning to sell shortly after purchasing their home (history tells us you need to wait 4 years to break even on a home) or people trying to use their future equity today. A home purchase is a long-term commitment and if you’ve considered and accepted this fact, you’re probably ready to buy. And right now, your timing couldn’t be better.
Photo Credit: Christine ™ via Flickr
The Oracle of Boise
Posted on October 22nd, 2008 by Boise Real Estate
I’ve been looking for a way to explain to my buyers that now is a great time to buy (I know - does a real estate agent ever stop saying this?), but I’ve held back for a few reasons. First, I don’t actually know what is going to happen to the economy in the next month, year or decade. And second, I didn’t live through the Great Depression and I wasn’t really paying much attention during the past few recessions. Basically, my prediction skills are lacking. So, as with anything else that I don’t know much about, I’ve done some research.
As I was reading through the real estate blogs that I read everyday (see column on the right), I came across Greg from BlueRoof.com’s blog entry about Warren Buffett’s opinion article in The New York Times. Basically, Buffett tells us what we all know - buy low, sell high. But he puts it in a way that makes it easier to understand during these times of confusion. He also talks about the stock market specifically, but his advice can be useful in real estate as well. From the article:
“What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over.”
What is the lesson here? Right now, prices are low (hint: that is when you buy).
Photo Credit: woodleywonderworks via Flickr
This American Bailout
Posted on October 15th, 2008 by Boise Real Estate
For weeks we have all sat around listening to talk of a 700 billion dollar “Wall Street Bailout.” Why Wall Street and why $700 billion, we all asked. Nobody seemed to know. The plan wasn’t passed…then it was…but it was different…the Dow is down 777 points…up almost 1000 points within a few days. What is going on?
I didn’t know either. In fact, I was very much against the bailout plan when I first heard about it and somewhat relieved when it didn’t pass the first time. Then the second version passed and I didn’t know what to think. None of the news sites or other trusted resources had any answers. Then Ira Glass came in and explained everything.
Remember my blog post about the mortgage crisis? Well, the “This American Life” radio show has done another episode in which they explain the bailout plan - what it is, why we need it, and how we got in to this mess in the first place. You can listen to the show here.
It is about an hour long show and it is definitely worth listening to.
The Bottom - Guaranteed
Posted on September 4th, 2008 by Boise Real Estate
Are you waiting until we hit the bottom of the market before you buy a home? Well, a local builder, Brighton Homes, is guaranteeing you purchased at the bottom if you buy one of their homes or lots. Brighton Homes is offering a rebate on your purchase if they lower the price of the same model home in the next two years according to a Statesman article. The article did not contain any other details of the program and the Brighton Homes website doesn’t even mention the program, but I’m sure there are some pretty strict qualifications in order to get a rebate check.
I’m usually pretty skeptical when builders use unique marketing ideas to sell their homes, but I like this one. Although still a marketing ploy, the rebate program is based on the builder guaranteeing the value of their product, which, in the end, is beneficial to the homeowner. Of course, if this isn’t the bottom, Brighton will have a much harder time selling their homes in the future because any price reductions will cost them that much more because of the rebates.
Mint, Limes, Sugar, Club Soda and Rum
Posted on September 3rd, 2008 by Boise Real Estate
As I wrote about last week, we had a little party on Sunday night to celebrate Labor Day, the end of summer and all of our faithful clients and endorsers. The theme revolved around mojitos, a Cuban drink made popular by Hemingway. Everyone seemed to have a great time even as the temperature dropped significantly through the evening. If you didn’t make it, you missed out on ribs, chicken, corn on the cob, and a selection of different salads. Oh, and of course, those fabulous mojitos. Check out some of the pictures below. If you want to be invited to the next CityBurb party, make sure you are subscribed to our newsletter.
Party Time!
Posted on August 16th, 2008 by Boise Real Estate
CityBurb.com Real Estate is having a party! I’ve talked about it for some time now and although my real estate life here in Boise is still busy, life outside of real estate has settled down some. So, what better time to throw a party! And since we have so many loyal clients, who better to invite than all of you?
If you currently receive our monthly newsletter, you’ll be getting an evite invitation shortly after this month’s edition. If you don’t currently get the newsletter, then I probably don’t have your email address and so you won’t be getting an invite. But alas, if you’d like to come, just send me your email address and I’ll get you on the list (you can use the Meebo chat feature or any of the forms on our site to send me your info).
The party will be on Sunday (Labor Day Weekend), August 31, 2008 in Eagle Idaho. More details on the invite. Hope to see you all then!
***Update*** Evites have been sent and the date changed to Sunday, August 31st.
Photo Credit: Infidelic via Flickr
Boise, Are You Working With an EcoBroker Yet?
Posted on August 13th, 2008 by Boise Real Estate
Green, environmentally friendly, eco-conscious , biodegradable, natural, carbon offsetting, organic, hybrid, sustainable and recycled. We’ve been hearing a lot of these terms lately, but how do you distinguish the good green from the bad?
Well, in real estate it’s easy. Just look for a Certified EcoBroker. Actually, it’s even easier than that…just call me.
LOCAL REAL ESTATE PROFESSIONAL CERTIFIED TO ADDRESS AND ENCOURAGE THE BENEFITS OF ENERGY EFFICIENCY AND GREEN FEATURES IN HOMES
Boise, Idaho – August 7, 2008 — Alfie La Peter, of CityBurb.com Real Estate in Boise has earned the EcoBroker Certified® designation, having successfully completed a unique and informative training program on the energy and environmental issues that affect real estate transactions. Alfie joins the movement of professionals pushing the real estate market toward energy-efficient, sustainable, and healthier design/features in homes and buildings. The “performance home” movement is getting a boost thanks to this type of high quality real estate professional earning the EcoBroker designation. EcoBrokers®, like Alfie, throughout the country are forging this market and creating competitive advantages for their customers. With national surveys indicating that 80% of consumers consider themselves “green-minded,” real estate professionals with the EcoBroker designation are in a better position to serve the real estate consumer. “I’m always looking for the best ways to offer my clients the best value. My EcoBroker training helps me ensure customer satisfaction, my number one priority,” Alfie explains. “From windows to moisture control to energy savings, I now have more resources at my disposal to help my buyers and sellers make better real estate decisions. The EcoBroker designation doesn’t make me an energy and environmental expert, but it allows me to better understand the issues and to convey this understanding to my buyers and sellers.”
EcoBroker International’s education and designation program is designed exclusively for real estate professionals who care about the environment and want to help their clients benefit from the energy-efficiency, “green,” and healthier features of homes and buildings. EcoBroker provides a complete curriculum of energy and environmental training to licensed real estate agents. Real estate professionals must complete the extensive EcoBroker curriculum and training and fulfill additional program requirements to become Certified EcoBrokers®. “Alfie La Peter is an example of the quality real estate professional the EcoBroker designation continues to attract,” explains EcoBroker International’s CEO, Dr. John Beldock. “These real estate professionals are not only distinguishing themselves in a competitive market place, but they are really giving back to the community in very constructive and meaningful ways. Boise needs more contributors like Alfie. The planet and our grandchildren need them too,” Dr. Beldock said.
From his Boise office, Alfie explains, “With EcoBroker® training, I have broadened the range of real estate opportunities I offer my clients. Whether the transaction involves environmental assessment and mitigation (mold, radon, etc.) or the opportunity to reduce utility bills, I’m in a position to help. The real estate industry is changing, and to best serve my clients I need to understand the newest designs, technologies, and environmental issues. My EcoBroker designation helps me stay ahead of the game.”
Alfie earned his EcoBroker Certified® designation in August and is wasting no time in putting the tools and additional expertise to work. Alfie has already found that being a Certified EcoBroker® creates added value and customer satisfaction that sets him apart from other agents. For example, at a recent listing presentation, Alfie was able to show the prospective sellers how he can highlight the benefits of their 2×6 framing construction, energy efficient glazing as well as the tankless hot water heater. His innovative energy and environmental perspective gave him an edge in winning the listing. Alfie says he’s looking forward to continuing to positively impacting the quality, durability, comfort, safety, and cost-effectiveness of homes and commercial buildings.
For additional information please contact: Alfie La Peter
Phone: 208-424-0313
Cell: 208-631-3545
<Real Estate Professional/Certified EcoBroker® Bio>EcoBroker International provides a unique energy and environmental curriculum to licensed real estate professionals, leading to the EcoBroker Designation. EcoBroker’s mission is to broaden and improve the base of training and continuing education for real estate professionals and in doing so, encourage improvements to the quality of buildings, while reducing their impact on natural resources and the environment. EcoBroker is a Building® America and Built Green® Colorado Education Partner; the most successful green-building program in the United States. EcoBroker provides state-approved continuing education courses to licensed real estate professionals in states throughout the U.S. EcoBroker can be reached by phone at 1-800-706-4321, online at www.ecobroker.com, and by email at customerservice@ecobroker.com.
Squeaky Clean
Posted on August 12th, 2008 by Boise Real Estate
Well, maybe not squeaky clean, but significantly cleaner than it has ever been. Thanks to Jim and Suzanne Holl, Susan and Conor Thompson, Nick Miller and John West (John West Lending Team 208-321-4161) for all their help in cleaning the CityBurb.com section of highway. Now, as you pass the Wal-Mart on State St. heading west, you’ll notice two miles of trash-free highway.
We filled ten bags of trash in about three hours along our two mile stretch of highway and best of all: nobody was hit by a passing vehicle! That’s a victory if you ask me.
If you missed out this time, don’t worry, we have to do this twice a year so there will be plenty of opportunities to join us again. And of course, I’ll let you know the next time around.
Thanks again gang!
Summer Cleanup
Posted on August 4th, 2008 by Boise Real Estate
You may have driven past this sign a few times if you travel on State St. between Glenwood and Hwy. 55. Well, it’s not just a pretty sign; we actually have to clean up that section of highway.
We are scheduled to clean up our two mile stretch of highway on Saturday, August 9th. I’ll be out there for most of the day, starting around 8am. If you have any interest in helping me, I will gladly accept volunteers (and buy them lunch). However, I do need to know ahead of time as ITD requires volunteers to sign waivers in case you are struck down by a passing vehicle (really, it rarely happens).
Call me if you are interested (or have a high school kid that you want out of the house on a Saturday).
