Posts Tagged ‘homes in meridian idaho’

I Prefer Milder Temps

August 1, 2016

I am a fair weather fisherman. Really hot temperatures or cold drive me indoors. As does rain and snow. I prefer brisk mornings that warm to about 70 in the afternoon. The heat these days is just draining my energy. I like to think I am not the only one. Yet I still sell real estate in this market so what should home owners do if their home is listed for sale?

Keep everything green!!! Get out a hand sprinkler and water brown spouts as needed. If need be double check the sprinklers. I had to replace 2 valves and a controller the other week. Many times we defer maintenance only to realize HEY perhaps that is why the grass is not green. If the flowers you planted have died; don’t try to save them, replant new ones.

I cannot stress the importance to keep your house cooled. I suggest to about 75-78* if you can. Many times we try to save energy only to use more trying to cool our home later on. Not when selling please. Nothing makes me and usually my clients want to leave faster than a hot house. Leaves us wondering if the a/c even works.

When I am showing homes to prospective buyers I try to bring extra water bottles. I had one client who, upon learning I love Fiji water, would bring me some every time we looked at a home. For those times I could not bring water I always appreciated a note that said, help yourself to some cold water. Sometimes it was in the fridge, sometimes on the table. Either way I always did appreciate it. Does it help you sell your home? Not really however if a buyer wants to make an offer they are already thinking these are good folks selling.

So keep cool my dear readers. Work in the early mornings, find shade and comfort for those hot nights. Your home will sell; it may just have to bake a little more. All the Best Richie Rich

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No Free Rides or Apps

July 28, 2016

WOW, apps are everywhere. You need to find a ride, UBER, a place nearby to eat, YELP, find a home, Zillow. Or pick the newest hottest one and BAM a free service has been provided.

In real estate Zillow and Trulia are duking it out. Sure there are others however, for today, these are the top 2. And they give the consumer all the information they want. FOR FREE! Who doesn’t like free? As a matter of fact when we go on the internet we expect it to be free and we are offended when it is not. I know I do, how about you?

However no one could possibly run such a large technology business for free. From what I am told UBER drivers pay 25% of their fare to the company, I can guess YELP and OPEN TABLE charge the restaurants they promote.

So what about Zillow and Trulia? Why I can tell you how many calls a week I get from both trying to sell me ad space. They expect me to spend thousands of dollars to pay for the leads they get. Say what Rich? They are selling my information to lenders and Realtors? Yes they are, there are no free rides or apps out there.

Well that’s OK I’m just looking Rich. Really, so it doesn’t bother you when someone, who has paid to be promoted to you, gets your information and then starts calling and emailing you? Or better yet when you choose to work with them because they sent you an email that you found met your needs? Come on folks, you are smarter than that.

Yes they service these online companies provide is awesome. However do you really want to trust someone who you met online do help you with the single largest purchase in your life? Are you really going to send them all your personal information including your social security number? Really? What the heck are you thinking?

So please, talk to family and friends. Find someone they know who can and has been trusted in the past. For the younger folks I believe they call it a personal recommendation. Me I call it talking with folks, face to face. Face Book, Next Door, Twitter are not the places to find someone. All the Best Richie Rich

 

Curb Appeal

July 26, 2016

Whew, I am hot! When did summer arrive? We are at least 20 degrees above average. If you are selling your home or getting it ready to sell add water. Fast! Nothing helps sell a home as much as curb appeal. Merriam Webster’s Dictionary defines curb appeal as the visual attractiveness of a house as seen from the street. To me curb appeal is the difference between someone wanting to go in your home and look and looking just because they are there. SAY WHAT Rich?

Allow me to explain. Many a time I have a buyer in my car and we head to a home. When we arrive the buyer says. “Uh, Uhm” I ask if they like it and they say “NO, however let’s look anyway since we are here.” I am here to tell you I have never sold a home to a buyer that so disliked the outside they were hesitant to look inside. Even though the interior is amazing. Curb appeal counts.

Rich, really, I don’t want to remodel the front of my home. I get it. I am not asking you to unless it is falling down, however that is another discussion. I am asking that you clean it up and dress it up.

Are the trees blocking the front of the home. Perhaps we trim them to allow a view of the home. Are the shrubs blocking the windows? Let’s remove them and put in a flower bed. Is the grass gone? New sod time. Is the front of the home a blank slate? Let’s put some flowers in pots and hanging baskets and add some relief to the home that you can leave or take with you.

What about the driveway/walk way. Is it broken? Seal the cracks, most stores sell a tube product that works great.

Is the walk way clear of obstructions? Is it cracked and in need of a makeover? Perhaps you have no walkway, let’s add one. Are hoses put away neatly?

Another way to add curb appeal is dress up the front door. Fresh paint, new hardware, perhaps a knocker.

These are some truly basic ideas that you can do whether you’re selling or not. It is not too hot yet in the mornings to get these done. The weather is supposed to go back to normal. So get it planned, get it done before summer really arrives. All the Best Richie Rich

What Happens When A Buyer Does Not Buy

July 25, 2016

Last time we talked about what happens if a seller chooses not to sell. So now let’s look at a buyer. The purchase and sales agreement used by Realtors spells it out pretty clearly. If the buyer does not buy the earnest money can be returned, kept or argued over. Simple huh?

Earnest money is generally returned when a buyer fails to get approved for a loan, even if they were pre qualified. It can also be returned if the home does not appraise for purchase price and an appraisal was required for the loan. I have seen a lender send me a preapproval letter and then the next day say they will not be getting a loan. This is frustrating for all involved. It becomes more frustrating the further along the transaction has moved. Inspections have been done, repairs negotiated and done and then BAM, we find out the buyer will not get a loan. Then the seller wants the earnest money only to find out they don’t get it. It can be so frustrating.

Earnest money can be kept when a buyer defaults in the performance of the agreement. Basically they change their minds and decide not to buy the property. Buyers’ remorse aka cold feet, decide not to move, decide to move elsewhere etc are some of the common reasons why a buyer fails to perform. The seller can choose to accept the earnest money for damages or ask that it not be released pending resolution of the matter if they are seeking a larger dollar amount.

Earnest money is argued over when both parties believe they have a claim to the money. Many times this involves pride. The amount of earnest money being argued over many times is exceeded by the time and money it takes to being proved you are right.

It is a good thing that the sales contract spells it out for us so well. Another great reason to hire a Realtor is that when something like this happens they can give you great advice. As always I m not an attorney and all of the above is just an opinion. For legal advice contact an attorney. All the Best Richie Rich

 

Voting on the West Ada School District Bond Issue

March 8, 2015

The bond vote is Tuesday March 10th. Please get out and exercise your right to vote. I have heard several opinions on the matter. For the nays, the Board is top heavy (too much management), how come they don’t take pay cuts. The teachers make way too much. We can have bigger class room sizes. For the ayes, we need the rooms, kids don’t even get lunch because they run out, and teachers deserve raises.

All of the above are passionate discussion points. However I believe we should looks at other issues. Since this is my column, I choose to share my thoughts on it. I know I know You can’t wait to hear.

Despite what some elected officials say our schools are doing poorly in national rankings. I have a hard time thinking a major business will move here when the kids will need to attend the worst schools in the nation. Rich, what is your point? It has been proven that smaller class sizes result in higher learning. Vote Yes!

A trusted friend that works with children on the local and national level once told me that prison population estimates are based on what is going on in 3rd grade. Good gravy!!! I think smaller class sizes result in children at risk having a better chance of success and staying out of prison. Vote Yes!

Eagle Middle School is 250 students over capacity. Lake Hazel Middle School is 452 students over capacity. Heritage Middle School is 162 students over capacity. New construction in these areas is going well. New construction pumps lots of money into high paying jobs in economy and is helping the country get out of the recession. More homes mean more students, Vote Yes!

The bond will add 2 middle schools, 1 elementary and finish the remodel at Meridian High School. 1 middle school and the elementary are south of I84, the other middle school will be in Star. All underserved areas of our community that are experiencing growing pains. Vote Yes!

I have walked the halls of Meridian HS. It desperately needed a face lift. How a room, building look have an effect on the student and their ability to learn. Vote Yes!

The levy rate decreased this year. If the bond passes the levy rate remains the same. SAY WHAT RICH, we saved money? The rate does not increase? Damn straight! Vote Yes!

All the Best Richie Rich

What Warm Weather

March 3, 2015

The weather certainly has been a touch warmer than normal. What to do? Well, there’s always yard work. Especially if you are selling your home or thinking of selling. We had an early snow and there were lots of leaves trapped and they should be removed. Weeds are starting to sprout, as well as some springtime flowers. You may want to stop in at your favorite garden shop and see how to get rid of the weeds and protect the flowers. There are also some flowers you can plant that should survive this time of year.

You want to get your lawn ready to go. Seed, fertilize etc. If the house needs paint, you can start scraping it. I personally believe the weather has to be above 50 degrees to paint; however, there are other thoughts as well. If the fence needs repair, you can do that now.

On my own home, I am moving a fence line. I dug, okay okay, my son dug 5 post holes by hand and commented on how easy it was. I told him because of the wet weather digging is easier. By the time I ran to the hardware store for poles and cement, he was ready. I saved the cost of a power posthole digger. Plus, the manual labor was not so hard for a teenager to make him resent it. How lucky am I?!? Now that it is somewhat rainy and cooler, I can hang the new fence and stretch it without waiting for the posts to be installed – 1 month ahead of schedule.

Also, builders are sinking foundations in the ground. That is always good to see. New home construction always adds money to the economy especially with good paying jobs. Plus, new home buyers also need to purchase things such as blinds, carpeting, lawn and garden items, new furniture and the list goes on and that all helps the retail industry.

So enjoy the warm weather while it lasts. Get out in the yard now, so you can relax and enjoy it during the late spring/summer time.  All the Best Richie Rich

Too Much Information

February 18, 2015

Wow, there is a lot of information available to the consumer these days. All sorts of search engines to help you find your dream home, determine how much your home is worth, send out automatic updates, etc. Talk about information overload! I guess the hardest part is to figure out which system to trust. Say what Rich? Which system to trust? Oh yes, I say.

In the technology world, we search for ways to deliver clean information to the consumer. Clean information in real estate means current and standardized ways of reporting. Not spam that is intended to separate you from your money and/or be sold to those in the real estate industry.

So Rich, how do we find this clean information? Great question. Many of the MLS’s have their own website that has the most current information. Here in the Treasure Valley it is http://www.intermountainmls.com/listings/searchlistings.aspx

If I was looking for a home in another area I would begin with Realtor.com. They have requirements that the local MLS’s must adhere to. Generally clean information with advertising thrown in.  As my search intensified, I would find a local Realtor and see what websites they would recommend. Many people use Zillow. The information there can be good, however, Zillow allows consumers to put their own listings in there, such as for sale by owner. What’s wrong with that Rich? Well my friends, all that glitters is not gold. There are actually people out there who post false information trying to get your information and your money. Well imagine that. Craigslist, you ask? One rental scheme would actually advertise, “Don’t tell the Realtor,” suggesting the complicity will get you a better deal. Oh my. That’s not to say all is bad. Just be cautious.

Automatic updates, I love them. I use them to review homes for my clients before sending them on. However, they are only as good as the search parameters used to set them up. Some search engines send what they think is close to what you are looking for. You sign up by yourself and then you get the new listings as soon as they hit the market. At times, this can be overwhelming and supply TMI. Other times, very few homes are found due to the number of “must haves” that have been entered.

So what’s a consumer to do, Rich? Find a reputable website, double check the information with a Realtor and make informed decisions, not overloaded decisions. All the Best, Richie Rich

Happy Valentine’s Day

February 13, 2015

It is that time of year, Valentine’s Day. Rich, I hear you say, what does this have to do with real estate? Well, I’ll tell you. I am trying to decrease sales of homes from couples who forget Valentine’s Day. Or, at least some of them who forgot. Fellas?

Do you recall when you first met your bride? You would do anything to see them. Sit next to them, actually listen to what they have to say? And now, you sit on your lazy boy, by yourself and fall asleep mid sentence. Romantic, you ask? Yes, I say. It is truly romantic as you are headed into true love, each of you accepting the other for who they are. So, that is why we have Valentine’s Day. A time to show the world, and I mean their friends, how much you love your spouse, partner, significant other, etc.

I feel it is my mission to make every person who works with, and knows my bride, to want to go home and slug their partner right in the nose!

So Rich, what have you done? Ooh, love this question. I have had quartets show up and serenade her, roses delivered one at a time with a different message on each card, flowers, candy, balloons, gifts from the kids, dinners both out and cooked by me, out for lunch, and over decorate her work place, to name a few.

Hey Rich, what are you doing this year? Not telling, I say.  Remember, I want to have everyone else go home and be mad at their partner. However, here is an idea. Valentine’s Day is on a Saturday. Going to be hard to get a reservation this late, so what about starting on Friday? A night out, a weekend getaway, flowers to the workplace, a stretch limo picks you both up before you both go out and then drives you home after the night out. Get the family together Saturday for brunch. Oh, the list goes on and on.

We should tell those we love, that we love them all the time. Telling someone you love them, and meaning it, is a huge morale booster. When my children get me oh so angry and we argue, at the end of it I tell them I love you and I expect to hear it back from them. The message is simple. We can disagree, fight; yet no matter what, I will always love you. I do the same with my bride. I tell her I accept her as she is and I am not asking her to change. Learning to accept others as they are can be a tough thing to do. Happy Valentine’s Day, from my home to yours, All the Best Richie Rich

2014 Numbers Are In

January 26, 2015

So readers, how did housing do in 2014? Not too bad, I would say. Let’s take a look.

Existing Home Sales in Ada County

Sales were roughly the same compared to 2013. We were down 0.52%. We sold 6,295 homes in 2014. In 2013, we sold 6,328. The cost of existing homes went up with the average price up 3.79% and the median price up 5.37%. In 2014, the median price was $193,000, average price $229,751. In 2013, median price was $183,170, average price $221,361. In a normal market, we appreciate 4%. So, we are right in line with a normal market. Feels good after a few crazy years.

New Construction Sales in Ada County

New construction took a hit in the sales department, being down 10.21% in Ada County. In 2013, we sold 1,636 new homes. In 2014, 1,469 new homes were sold.  The price of new construction went up sharply however. In 2014, the average price was up 13.53%, the median was up 12.81%. I suspect some of this price increase was based upon the cost of materials, which went up in quite a few sectors

Days On Market DOM

In addition to being asked how much is my home worth, I am often asked how long will it take to sell my home. Of course, I tell them it has to be priced right and it will sell. So let’s look at the numbers for a well priced home. For residential resale in Ada County, the average DOM was 52 days in 2014, 51 days in 2013, which coincides with the sales numbers being the same. In new construction 2014, DOM was 73 days compared to 53 days in 2013. This also matches the market sales numbers.

All in all, 2014 was a good year. Things were normal. There is something to be said for being normal.

If you would like to see how your area did or research other numbers, please visit: http://publicstats.intermountainmls.com/static/Reports/Ada/2014/2014-Ada.pdf

I thank the Local IMLS for their support in putting these numbers together for us and making them available. Here’s to 2015!  All the Best, Richie Rich

Real Estate in 2015

January 12, 2015

It is that time of year again, time for the Rich Nesbit forecast on the real estate market. Where will the market go? Let’s take a look.

Home Prices: I believe that this year home prices will show a comfortable increase of 4%. On average, that is the rate of growth in Idaho for real estate. Last year’s results are not yet in, however we did not reach the 20% appreciation mark overall. Resale residential will be around 5-6% growth and new construction will be around 13-14%. Increased inventory levels slowed the pace.

Housing Inventory: Levels will remain near normal. Supply should stay around 4-6 months.  A normal market is around a 3-6 month supply. We were near normal for most of the year in 2014.

Interest rates: Rates show they will continue to stay low. If Treasury notes drop to 1%, look for interest rates to drop as well. Lots of thoughts as to why it is low and why it may go lower. More on that later.

Unemployment: Jobs are doing well for the most part here in Idaho. For those of us with friends and family in the Oil Fields, such as North Dakota, if crude continues to drop then there could be layoffs of high paying jobs. Canada has seen some of this already. Companies here in the States say they are convinced they can continue even if Oil hits $40 dollars a barrel; however, only time will tell.

The real estate market is affected by so many more factors than the few listed here. I believe we will have a stable market, with some growth. All the Best Richie Rich


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