Idaho Real Esate Blog for Boise, Eagle, Meridian, Nampa and Caldwell

Maybe The Banks Won't Be Bailed Out Afterall

2008-11-12T11:22:49Z

According to the following story on yahoo: http://news.yahoo.com/s/ap/financial_meltdown the government has decided that using the $700 billion bail out package to buy up troubled financial institutions is not the best way to go.

Whether or not you agreed with the bail out package in the first place it's nice to see they're giving some thought to how to spend the money. I think it's a step in the right direction. I've always been a fan of "think before you act" strategy.

While the housing market definitely need stabilization, which is more important, stabilization or trying to head off the consumer credit crisis posing the next huge threat to our economy?

Boise Ranks As A Top Place To Raise A Kid

2008-11-11T16:03:12Z

According to Business Week magazine Boise, Idaho is ranked as one of the top cities to raise children in 2009. The rankings were weighted heavily on school performance and safety. It's a bit of welcome good news even if all the locals already knew it.

You can read the full article and read the rest of the ranking results here: http://finance.yahoo.com/family-home/article/106120/The-Best-Places-to-Raise-Your-Kids-2009.

Treasure Valley Homeless Shelters At Or Near Capacity

2008-10-30T07:22:46Z

This one is a bit painful for me but I think it's worth paying attention to. It appears that homeless shelters in the Boise area are helping record numbers of people amid a drop in donations.

Read the full article here: http://www.idahostatesman.com/newsupdates/story/554194.html.

The troubled economy is as far reaching as any of us have probably ever seen. This is a time for us all to pull together and help each other out.

New Blog Header...

2008-10-28T11:15:24Z

Well after seeing some of the great work the members of AR were doing customization of their blogs I decided to try my hand at creating my header. I was a little jealous of all the eye candy and decided I should have some of my own.

I've tried to mimic the look and feel of my website www.brianbrumpton.com to give everything consistentency from click to click. Let me know what you think AR.

Lower Price or Buyer Incentives?

2008-10-27T13:23:35Z

Here's a question that comes up all the time. When selling a home sellers are often confused aboout which might be the better route to drive traffic. I found this article interesting in explaining just what a buyer incentive is used for: http://www.realtor.org/RMODaily.nsf/pages/News2008102701?OpenDocument.

So what's the answer? Both! Here's why, a buyer incentive may help boost your traffic over competing properties if and only if your property is priced accurately at market value with the competition. Buyers are more savy than ever and if they're not their agents should be. In the end as this article states the price ultimately has to agreeable to the buyer or all the incetives won't matter.

Using the strategy may be a great way to drive buyers to your property but price it right before all esle.

Home Sales On The Rise Nationaly...

2008-10-25T18:04:35Z

Home Sales are on the rise nationally according to the NAR. While most have been focused ont he roller-coaster movements of the stock market existing home sales climbed nationally by 5.5%.

Read full article here: http://www.realtor.org/RMODaily.nsf/pages/News2008102401?OpenDocument.

As foreclosures and downward pressure on pricing are opening the market up to more buyers in previously unaffordable areas.

Record Numbers Of New Voter Registrants In Ada County

2008-10-24T10:03:22Z

I don't normally use this blog for political discussion but I just wanted to take a minute and point out that I'm proud of Ada county residents for cranking out record numbers in new voter registration.

According to 2News.tv the record number of new voters is surprising everyone:http://www.2news.tv/news/local/33130449.html. Regardless of your political view I don't think anything is more important than making your voice heard. Keep it up Ada county.

Vacant Boise Area Retail Space On The Rise

2008-10-24T09:46:43Z

Maybe you've noticed the trend driving around town. I'm surprised sometimes by the amount of commercial space going up around the valley. It seems business complexes keep going up without the tenants to fill them. According to to 2News.tv that's exactly what's happening: http://www.2news.tv/news/local/33202729.html.

It's a tough market to be a business owner but sound business practices will prevail. The upside now is a great time to negotiate a lease or re-negotiate one.

Short Sales Are We Witnessing The End?

2008-10-17T18:03:08Z

According to a report on the Today show this morning banks are sitting on short sales as a result of the bail out package.

Does anyone have any insight into how the Treasury is going to go about buying back bad loans? If the banks are going to be bailed out by the government what's the incentive for the banks to take a loss now when they can wait it out and recoup more of their loss by getting help with more of our tax dollars?

Government Ban On Short Sales?

2008-09-22T20:11:47Z

I received a real estate advertisement worded "government ban on short sales."

Well it was a clever way to get my attention and as soon as I read it I thought what a bunch of jokers playing on words. Then I started to wonder if people really might be confused by the subject. So I thought I'd write a quick explanation.

Our Government put a ban on short selling, not short sales. So what's the difference?

Short Selling is when you borrow stocks and sell them in hopes of buying them back at a lower price at a later date. This is a financial instrument and not to be confused with the transfer of real property.

A Short Sale is when a lender accepts a lower payoff on a loan for property than the amount financed by the mortgagee.

Easy to confuse and if you use the wrong terminology you're talking about two completely different things.

Give Credit Where Credit Is Due!

2008-09-21T10:53:49Z

I happen to be a Boise State Bronco's foot ball fan. It's not because I'm crazy about football or that I have a great grasp and appreciation for the game. They have made me a fan because they just don't quit. They are rarely given credit for their triumphs and those triumphs are usually attributed to unfortunate circumstances of the opposing team.

Case and point, Boise State recently beat Oregon a BCS conference team that outweighed them by nearly 50lbs per player. It was a thrilling game and as soon as it was over I sighed and said out loud "Guaranteed they will say it was due to the loss of Oregon's quarterbacks" and sure enough the first article I found on it lead of with "All those quarterback injuries finally caught up to Oregon against Boise State."

Yes Oregon had lost their quarterbacks, but they also have one of the top ranked defenses in the nation that couldn't hold our offense despite their every advantage. So how does this pertain to real estate or life? Well you have a couple choices. You can sit on the side lines making excuses why you came up short, the reasons you can't, and play the victim or you can brush off the naysayers, and whiners, and get on with it.

Play to win no matter the odds and when you lose act like a winner and give credit where it's due!

Don't Drink The Water...

2008-09-16T00:14:07Z

Meridian Heights subdivision has a large looming problem. Contaminated water and no place to move their sewage: http://www.idahostatesman.com/newsupdates/story/504213.html.

This is no doubt is causing home owners big head aches. The costs to remedy such a situation are large and will probably affect homes sales as well. This will be an interesting one to watch unfold. With the growth rates in Meridian, Idaho what once worked is now having to be re-thought and reworked and someone has to pay the bill.

Meridian VS. Kuna: A Land War In Idaho

2008-09-14T12:29:26Z

Kuna and Meridian are squaring of in their fight for land and expansion; home and property owners are caught in the middle with Ada County as the referee: http://www.idahostatesman.com/newsupdates/story/502621.html.

There are obvious pros and cons to both sides and when you look at the article does a very good job of extracting many of them.

If you're looking at it from a home or property owners perspective there's no doubt that Meridian carries a higher average property value.

Kuna however may be quicker to add services for the outlying areas which would make them more marketable.

What Do Buyers and Sellers Want To See About Properties On The Net?

2008-09-13T07:46:21Z

I could use your help AR, I'm redoing my website and here's your chance to have a say in it. On my properties page I am setting up what information about the property is displayed. My question as stated above is this:

What information are buyers and sellers wanting when they land on a property they are searching for?

Since the internet is where the overwhelming majority of buyers and sellers begin their search I want to be sure to give them what they're looking for.

Help me out here and let me know!

Why Are We Paying For An Empty Mansion?

2008-09-12T16:37:55Z

Apparently the cost of owning and maintaining Simplot's mansion is draining the Governor's housing fund: http://www.2news.tv/news/local/28300934.htm.

My question is why are paying for both. Governor Otter (a millionaire) is collecting and $4500 a month for housing cost to live in his estate and we're still on the hook for the costs for a mansion he refuses to live in because his ex-wife's father used to own it. Does that seem wrong to anyone?

I don't normally dive into politics unless they concern real estate and this issue concerns a very large piece. There's just got to be better places for this money to be spent and if Butch doesn't like the accommodations provided to him shouldn't he pay for his own?

Castellina Subdivision Public Hearing

2008-09-09T10:51:44Z

Up for hearing is the a new subdivision planned to go in north of State Street. Northwest Boise owners are looking at another 214 homes to be put in between Bogart and Roe. Get further details here: http://www.idahostatesman.com/localnews/story/497422.html.

Here's a satellite image and my best guess on where they are referring to:

The hearing is set for 6 P.M. Thursday night September 11th.

Art In Park Is Almost Here!

2008-09-01T00:01:13Z

It's coming! Boise Art In The Park is just around the corner. Next week the 5th through the 7th hundreds of artists from all over the Northwest will descend upon our great city to display their works.

I love it, we try to make it a point each to purchase art from this event. There's paintings, jewelery, photography, and many other things.

It's a great time with music, food, and fun. I hope to see you there.

Here's a link to the website to make all your arrangements: http://boiseartmuseum.org/events/2008artinthepark.php.

A Long Standing Fall Tradition Says Farewell

2008-08-31T23:49:48Z

What has been a little piece of Boise's culture is going away. The YMCA has annouced the cancellation of the Barber to Boise fun run after 31 years: http://www.boiseweekly.com/gyrobase/Content?oid=316974.

It's hard losing events, ritualls, and traditions that we hold dear in the Treasure Valley. Those things that make Boise what many of us grew up knowing and the reason so many of us want to come back. While it may be sad we can also rejoice as it's a time for us to turn a page and help advance many others events the YMCA holds.

For some of us it will be a new begining a chance to have a part of Boise become yours from the very start and a piece you can hold onto that will make Boise uniquely yours.

Help Out The Victims Of The Oregon Trail Fire. Stay Out Of The Way.

2008-08-30T23:21:51Z

It seems everyone wants to have a look at the devastation caused by the Oregon Trail fire and it has some residents concerned. Although signs clearly state that it is closed the steady stream of traffic is causing problems: http://www.2news.tv/news/local/27684179.html.

I know that nothing compares to seeing it in person but please do the right thing and resist the temptation as there are plenty of pictures and coverage of the fire all over the web. Help your fellow neighbor out and allow them to do what needs to be done and reclaim their lives and what's left of them by staying out of the way.

They'll appreciate it and believe me so would you.

Boise State Wins!

2008-08-30T23:12:40Z

I just have to congratulate the Boise State Broncos on a job well done. Their first outing of the season was a huge success. The first couple possessions were a little shaky. After the nerves seemed to have settled they showed their true color in a dominating fashion. Did anyone catch the hit they put on Idaho States QB? He'll be feeling that one for weeks to come. Great job Boise State, here's to another great season!

Is Idaho Power Doing Enough About The Fire It Caused

2008-08-30T23:06:18Z

Southeast Boise residents are not happy about Idaho Power's effort to assist them. Residents who lost there home were looking for more after it was deemed that a power line sparked the fire that destroyed homes in rapid succession.

An article in the Idaho Statesman details the meeting between three Idaho Power Officials and the residents: http://www.ktvb.com/news/localnews/stories/ktvbn-aug2908-idaho_power_meeting.2577e1bc.html.

Should they be doing more? It's hard to say. Yes as a company you should support the community that supports you. Are they really to blame? Well the power line was theirs but nobody could have foreseen such a tragedy. We all take for granted the risk that come with modern amenities like electrical power and the risks involved. Such accidents are an unwelcome reminder and my heart goes out to those families in need.

Oregon Trail Fire, Southeast Boise Needs Help

2008-08-28T14:02:10Z

I think it is important for as many people to see this as possible. This is an aerial shot of the aftermath of the Oregon Trail fire that happened a few days a go. There are many families in need right now. Here is a link to a Idaho Statesman Article on some of the items in need if you want to help:http://www.idahostatesman.com/newsupdates/story/484431.html.

This also has a great index at the bottom of the different orginzations you can contact to help. Our Southeast Boise residents need your help.

Secrets Of Millionaires

2008-08-28T13:22:23Z

So you want to be a millionaire? Smartmoney.com posted an enlightening article called "10 Things Millionaires Won't Tell You": http://finance.yahoo.com/banking-budgeting/article/105626/10-Things-Millionaires-Won't-Tell-You.

There are some surprising statistics, like the narrowing gap of how long people have had there wealth and a lower percentage of inherited wealth. Which means the generations after are squandering the fortunes made by their heirs. No doubt Paris Hilton comes to mind while reading that.

I also like the part about money being able to buy happiness. I don't know about that but as my good friend Tony Robbins likes to say "money won't solve all your problems but it allows you to arrive at them in style."

By the way this excludes home equity so the statistics don't include the guy with a liar's loan who overstated his income and still has a house that hasn't gone into foreclosure yet skewing his net worth.

Give it a read, let me know which ones surprise you.

Are You Preditor or Prey?

2008-08-27T21:55:35Z

AR bolsters the competitive streak in us. The points system gets some of going although it's hard sometimes to know if you're predator or prey. Chasing down the person in front of you is fun and when you get close and the chase is on you get that much more engaged.

But you must be careful, because you never know who's coming behind you. The hunter becomes the hunted and you have to stay on your game. Oh, the joy of the crazy blogging website.

FDIC Running Low ON Funds

2008-08-27T09:39:33Z

Have you ever had to sit and ponder whether orn not to file an insurance claim? Say you pulled out of the garage before the door had opened all the way or in the case of my mother-in-law you just flat forgot to open it in the first place.

So you're left to ponder can I live with the dents, dings, and scratches? After all if I file a claim my insurance premiums will be raised.

Well that's exactly what's is happening to banks right now except they don't have a say. After the failure of banks across the country the FDIC (Federal Deposit Insurance Corp) funds are running low. To replenish they are raising the premiums banks have to pay: http://news.yahoo.com/s/nm/20080827/ts_nm/fdic_treasury_dc.

I recently read and article by Suze Orman in which she advises to make sure your bank is FDIC insured. I thought at the time "I don't think I've ever seen a bank that wasn't." Well maybe now I'm not so sure, will raised premiums give the banks reason to abandon the security we have all come to take for granted?