CityBurb.com’s Boise, Eagle and Meridian Homes and Real Estate Blog

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

Tags: Boise Real Estate, Real Estate, Treasure Valley by Alfie
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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.

Tags: Boise Real Estate, Industry, Real Estate, Treasure Valley by Alfie
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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!

Tags: Boise Real Estate, Treasure Valley by Alfie
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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).

Tags: Boise Real Estate, Treasure Valley by Alfie
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I rarely talk about the disadvantages of owning real estate as I am a major proponent of real estate ownership. However, there are some expenses you’ll have as a property owner that you wouldn’t have as a renter, mainly property taxes.

If you own a home here in the Treasure Valley, you probably saw your taxes increase significantly over the last two years as property values climbed to double digit appreciation. Now that much of that appreciation has receded, you’ll notice your taxes and assessed values are still quite high. What do you do?

Fight it! In Ada County, your property value is assessed on January 1st every year. You’ll get a letter from the Assessor’s office and it will give you a date by which you must appeal if you choose to do so. It’s too late for 2008, but if you want help for 2009, I’ve got all the forms you need. And if you think your time will be wasted, check out this article in the Statesman that shows how many people were successful in receiving a reduction in their property tax bill. Of course, even if you can’t get a reduction in your property taxes, you can still get a deduction on your personal taxes every year.

Photo Credit: pfala via Flickr

Tags: Boise Real Estate, Real Estate, Treasure Valley by Alfie
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The general public (not you, the educated readers of this blog) have always struggled to understand how the real estate industry works. I still get calls from buyers that want to know how much we charge (buyer’s agents are paid by the seller) and sellers that wonder if they have to pay up front for marketing services (they don’t). With the way the media tells stories about the industry, it is no wonder that this confusion exists.

A recent story about the merger between two large real estate companies here is Boise continues to spread misleading information:

“[Home sellers] know right then that we’re not just going to expose them to the Treasure Valley. We’re going to expose them to a thousand agents in the whole state of Idaho. We’re going to expose them into Washington and we’re going to expose them to 100,000 agents across the U.S. We’re going to expose them to 47 countries so the exposure for the customer selling their house is tremendous”

Sounds magical right? The above quote is from the owner of one of the merging companies explaining the so-called advantages of a larger real estate company. What I believe to be misleading is as follows: The advantages of a larger real estate company are that they have more resources for advertising and marketing in order to gain new clients, not to sell their listings. All of their agents are still independent contractors that work for themselves under the umbrella of a responsible broker. This means that the agent you hire to sell your home is the only person who will be trying to sell your home. That agent’s 1000 co-workers don’t necessarily care about your home. They may listen to your agent’s spiel during an office meeting and they may even tour your home with the entire office, but they aren’t working to sell your home. That is, unless they have a buyer that is interested in your home. But guess what? If any licensed real estate agent has a buyer interested in your home, they are going to find it in the same place: the MLS, even if they missed the “office tour.”

Real estate is a co-operative industry. I can sell your home to any buyer, no matter what company they are working with. Those 1000 agents in a big office are just as likely to sell one of my listings as their own office’s listings. A bigger office is not better; a better agent is better.

The moral of the story, in the word’s of Public Enemy: Don’t believe the hype (warning: links to a video that starts automatically).

Photo Credit: Franco Folini via Flickr

Tags: Boise Real Estate, Industry, Real Estate, Treasure Valley by Alfie
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The Idaho Business Review reported that the national foreclosure rate was down 3% last month. Good news, right? Not really. The national foreclosure rate is still up 53% over last year. Of course, that is the national foreclosure rate, not the local rate.

The Idaho foreclosure rate is down almost 20% from this time last year. Still, like the national rate, that probably doesn’t mean much to you. Let’s get down to some numbers. In Boise (as of 7/14/08), there are 697 properties that are in some stage of foreclosure (pre-foreclosure, auction, bank owned). In Meridian, 466 properties and Eagle has 208.

I imagine you might have a couple of questions about this information: what does this information mean and where did I get these numbers?

The numbers don’t mean much. If you’re selling your home this information may help you understand the market a little better and allow you to see what you are up against. If you’re buying a home, make sure you look into any foreclosure or bank owned properties that match your criteria. They are a lot more work to purchase and require a lot of patience (think DMV on a Monday morning times ten), but they can yield a great result. Besides, the increased work load is my job, and I’m happy to do it. I subscribe to both local and national foreclosure property lists, so if you are interested in these types of properties, let me know.

Photo Credit: escapo via Flickr

Tags: Boise Real Estate, Foreclosure, Industry, Real Estate, Treasure Valley by Alfie
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Gas prices seem to be rising to an absurd level lately and it got me thinking about the cost of the everyday commute to work and back. I live 9.2 miles from my office. That works out to 368 commuting miles each month. At 50 MPG, I use 7.36 gallons a month on my commute. Not too bad except for the fact that my job requires quite a bit more driving when you take into consideration showings and listing appointments. Now, many of you simply drive to the office and back. And few of you get 50MPG, so let’s look at a realistic case.

Nampa to Boise is about 22 miles and let’s say the average vehicle gets 22MPG (I think I’m being generous here but it makes the math easier). That works out to 880 commuting miles a month or 40 gallons of gas. Gas prices are around $3.36 in Boise today, so you’ll spend $134.40 per month in gas for your commute alone. At 6.5% on a fixed 30 year home mortgage, you could have spent $21,263 more on a home within walking distance of work and been in the same financial position while also hedging against higher gas prices.

Now, I’m not writing this to convince everyone to move within walking distance to their work, but I think the cost of your commute should be given at least the same consideration as the heating, electrical, water and tax bills when you purchase a home. I don’t think gas prices are going down anytime soon and if you run the above scenario with $5 a gallon gas you could have spent $31,600 more on a home with the same monthly expenses.

So, how much does your commute cost?

Photo Credit: TahoeSunsets via Flickr

Tags: Boise Real Estate, Treasure Valley by Alfie
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That was what many people (mostly real estate agents) have been calling Star, Idaho for the past few years. It seems only right for people to make silly predictions when a town like Eagle can sneak up on them and become immensely popular, seemingly, overnight. So, many predicted that Star would be the next Eagle.

Enter the real estate boom and bust.

It is common knowledge on Wall Street that if you hear a great stock tip on the news, it is probably too late to buy. This is somewhat true in real estate. If enough people go around saying that one town or another is going to be the next “hot” market, it is probably too late to jump in and make a profit (although it might not be too late to buy and live there).

Well, Star saw a great deal of interest as the market got hotter in the valley and it appears that a few developers showed up late and missed the “hot” market. According to the above article, a few developments have stalled, leaving homeowners with unfinished communities. It also appears that building has pretty much stopped.

So, what does all this mean? No, Star is not the next Eagle, but they have very similar landscapes with their foothills and river access. Star is also a small community with a lot of potential to grow into a great little town. And with the big adjustment in the real estate market, buyers have a great opportunity to build their homes on reasonably priced lots. However, there is also the possibility that Star could grow into that strange “country cousin” of Eagle, where something just isn’t right, if little or no planning goes into future development and growth.

For now, I’m going to stay put and see what happens. Any predictions?

Tags: Boise Real Estate, Treasure Valley by Alfie
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Boise’s infamous “hole” on the corner of 8th and Main St. downtown is in the news once again. No, it isn’t under construction yet - that would seem too easy. Besides it’s only been ten years since the development agreement was first signed to start the project. We couldn’t really expect construction to resume this quickly, could we?

No, it is in the news because the latest development company, Charterhouse Boise Downtown Properties LLC, is at risk of losing control of the hole property. It seems that shortly after acquiring the project, Charterhouse defaulted on a loan and filed for Chapter 11 bankruptcy to protect itself from foreclosure. Well, it seems that Charterhouse has not followed the rules of the reorganization and may be forced into Chapter 7 bankruptcy in which case the primary lien holder could foreclose on the project.

The story of this small piece of land could be turned into a mini-series at this point. I’m starting to wonder if anything will ever be built on the property. I think they ought to fill the hole, lay some sod, add a few benches and create more space for the Capital City Public Market. What do you think?

Tags: Boise Real Estate, Treasure Valley by Alfie
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