Posts Tagged ‘realty executives idaho’

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

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Who is Buying Homes???

February 3, 2011

Homes sales were up in 2010. So who is buying them? I read some excerpts from the National Association of Realtors’ Profile of Home Buyers and Sellers for 2010. What I read surprised me. Here’s what they said.

The age of homebuyers was surprising.  Forty-two percent of all homebuyers were under the age of 35 and 67 percent of all first-time homebuyers were under 35 years old. Nearly half of all home buyers were under the age of 35. Two thirds of first time home buyers were under the age of 35. 89% of homebuyers searched online. This is up since 2006 when only 80% of buyers were online. So if your home is for sale it has to be all over the internet.  A good Realtor can get your home out there so it is found. For Sale By Owners (FSBO pronounced FIZZBO) did not do well in 2010. 83% of all homes sold were by Realtors.

 50 percent of all homebuyers were first-time homebuyers (36 percent in 2006, 41 percent in 2008). I particularly like that number. If the starter homes are not selling, then the move up homes will not sell. The cycle begins with the 1st time buyer and if that part is not being fed with homeowners, not investors then the market stalls.  23 percent of all first-time homebuyers were single females and 15 percent were single males. WOW 45 % of all 1st time homebuyers were not married. I suspect this number is slightly lower based upon partnerships instead of marriages that some couples prefer. However it is still remarkable that many are single. 85 percent of all first-time homebuyers make less than $100,000. 75% of 1st time homebuyers lived in an apartment prior to buying a home. The real question is how many lived at home? And how many parents are very happy that their kids live somewhere other than home?

Some more numbers for you:

–       41% of all homes sold were on the market for less than one month –The average in Ada County is 3 months

–       17% of all buyers purchased a home for less than 90 percent asking price. In Ada County homes sell for 96-97% of the listed price on average.

–       11% of all buyers purchased a home for more than 100% asking price

–       81% of all buyers were satisfied with the home buying process 

–       40% of all purchasers found the mortgage process more difficult than expected.

–       92% of all purchasers were not rejected by a single lender – Very Surprising!


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Smaller Homes are in Vogue

December 2, 2010

In this economy a new trend is emerging. Smaller homes are becoming more desirable. The Associated Press headline said ” Tiny house movement thrives amid real estate bust”. The article goes on to talk about very small homes that are being built. Such as 500 sq ft homes. Very small. However it is a trend that has been spoken of Nationally. I had to laugh, one person on a morning news show said folks should downsize to smaller homes. When pressed for the size of the home folks should downsize to she said they should move into a 4,000 sq ft home. Smaller is in the eyes of the beholder.
I did some checking, In Ada County there are 291 single family homes for sale 1200 square feet or smaller. 194 are not a short sale. 57 are banked owned. The highest priced bank owned $164,900. The least expensive $39,900. So far this year in Ada County 585 homes 1200 sq ft or smaller have sold. 498 were not short sales. A little more than 53 per month are selling. Which means there is about a 5 month supply of these homes.
Darn near a normal market for inventory. I say about a 6 month supply is normal. If we look at the non short sale homes about 45 per month are selling in Ada County. Which means there is about a 4 month supply. Now that is hot!
A second part of the downsizing is the overall cost of a home. I looked at a home that was truly a mansion. It had a RV/Pool house that I could have lived in quite comfortably let alone the main home. My friend and I agreed this was definitely a Million Dollar prize. He asked what I thought the upkeep would be. I said I did not believe I could pay the maintenance on this place. Bigger costs more. Period. More for taxes, upkeep-paint, carpet, cleaning etc. Larger homes cost more to heat and more to cool. Not to mention the yard care, the swimming pool, in ground hot tub and water features. So as folks trim their budgets they also trim monthly expenses. Another reason why smaller is in fashion.
Another appeal of smaller spaces is that it encourages green living. A smaller foot print on the earth if you will. It slows urban sprawl and builds communities. As a kid I grew up in NYC. I saw accommodations that would fit a single bed and a dresser. That was it. And people lived there. I grew up in a four room railroad flat. I had three brothers, my Mom and Grandma, two dogs. I thought that was tight living until I saw the space above. I believe a jail cell would have been larger. So the idea of smaller, more efficient spaces is not a new one. Just one that is being revisited.


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Land Grabbers By Rich Nesbit

November 21, 2010

Now that is a catchy headline guaranteed to make you notice huh? Well you guessed it; I’m here to talk about the Pilgrims. What? The Pilgrims? Yup. The Pilgrims. It is Thanksgiving!

I was watching a kids show the other day and was reminded of some things about the Pilgrims. First it is said they were not really seeking new land. They say they wanted religious freedom. However they had already found religious freedom in Holland, according to a story I read on the net, http://www.holidays.net/thanksgiving/Pilgrims , yet they were concerned about the morals in Holland so off to America they went. I believe they wanted a place of their own. Remember The American Dream?

 The show talked about Samoset an Abnaki Indian whose tribe had been nearly wiped out in the New England area that the Pilgrims had settled in due to disease. It is estimated that 75% of the Indians in that area had died. Here’s when the land grab happened. See there was no land purchase, no eminent domain, just a taking of the land. Here is where we will live and claim it as our own the Pilgrims said. No one complained because the land had become vacant by the many that had died due to disease years before. As a Realtor I am here to tell ya, it might have been a hard sell anyway if the Pilgrims knew about it before settling there. Talk about a disclosure issue.

Samoset had learned English from the Captains of fishing vessels. His first thought was to help the Pilgrims by bringing in another Indian, Squanto, who spoke English better. Squanto had actually been to England and Spain which is where he learned to speak English. What a great idea Samoset had. I never really remembered Samoset from my youth, however I like him. He didn’t run out and hire an attorney to get back his land, a windfall or start a war. He extended a hand of friendship. True friendship. Let me help you and when I can’t do enough let me find someone who can do more. He knew there was enough to share and was kind enough to do so. How many of us remember to extend a helping hand to those in need.Then the Pilgrims remembered to do what was right. They shared as well. They invited the Indians back to enjoy the harvest with them. They also shared with newcomers to the settlement as well.

As I was driving through town the other week I noticed a line of people outside of St Vincent’s on Main St. People had lined up and were waiting for Thanksgiving dinner food boxes. Man I thought, how sad is that? So many people needing help. What I should have said is how can I help? What could I do, like Samoset did to help? So I ask you my dear readers, what can you do? How can you be like Samoset? Happy Thanksgiving to All


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Elections and Real Estate

November 21, 2010

The elections are over and the results are mostly in. What affect will the results have on real estate? Great question. Some believe that the newly elected officials will radically change how the Government deals with Fannie Mae and Freddie Mac, two of the biggest lenders on the block. They believe it spells doom for them. Perhaps.

Some believe that the lawsuit into foreclosures brought forth by the 50 State Attorneys General could become derailed. Half of the executive committee, 6 out of the 12, lost their bid for re-election. I imagine it will depend on how the newly elected officials decide to pursue the interests of the voters.

What do I think you ask? Well you know I will share that with you. I believe it will help real estate. The American population was not happy with what was happening and sent a strong message. That message was, We want to feel safe in our pursuit of happiness. We want to know that our way of life is not going to collapse. We want to be reassured that those things we hold dear will be there tomorrow. Like the job we love or hate will still be there tomorrow. We want to know that our homes will not be worthless. That we made good decisions, certain members of our government were not and we wanted to let them know how unhappy we the American people were about it. And boy howdy did the voters let them know.

I can feel it starting. The swell that will lift us out of the worst we have seen in over 70 years if ya listen to Butch. I have been saying that the worst of it is over in real estate. Prices are low yet homes are selling. A local economist announced Thursday at the Boise Chamber of Commerce breakfast, the recession is over. It will be a slow road back he said. Of course, I say, it should be a slow road to recovery. Fine wines, aged beef, relationships, love are all better when time is taken. The people have sent a message, the elected officials need to hear it, respect it and pursue it with a passion. So yeah, I believe it will help real estate.


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