boise idaho real estate: Three tax advantages of owning verses renting a home! - 01/22/12 03:59 PM
I am always amazed at how many people that rent a home don’t stop to wonder why their landlord decided to buy a home only to rent it out. Simply put, it is because it is your landlord’s investment strategy to get their tenants to pay off their debt while they get tax deductions themselves! If that isn’t good enough, property values historically appreciate 3.8% a year so if you borrow the money from the bank (using other people’s money) the appreciation essentially even pays off your mortgage at today’s interest rates. Keep in mind the property keeps typically appreciating, while … (9 comments)
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boise idaho real estate: How To Use Escalation Clauses in Multiple Counter Offer Situations - 04/14/11 01:38 AM
It never ceases to amaze me that in real estate there is no standard of practice on how to deal with multiple offers on the same property. At least the Idaho Association of Realtors adopted a multiple counter offer form that helps, it still leaves a lot up for interpretation.
The seller wants to sell the home for the most possible while the buyer wants to offer the least amount possible. How can this ever be negotiated for a win/win scenerio without upsetting both parties?
The answer may be the use of an Escalation Clause. This essentially turns the property into … (5 comments)
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boise idaho real estate: iPad Bluetooth Keyboard turns an iPad into a Tablet computer - 02/04/11 02:57 PM
I just bought the Zagg Mate wireless bluetooth keyboard case for my iPad. It is the perfect iPad accessory since it allows you to protect the screen of the iPad when not in use while providing a very light weight keyboard to turn it into a laptop / tablet computer! Another tech tip, brought to you by Jim Paulson, Owner/Broker of Progressive Realty Corporation in Boise, Idaho. … (3 comments)
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boise idaho real estate: Goodbye Groupon - Hello Google Offers? - 01/21/11 09:08 AM
It sounds like Google doesn't take the word "No" sitting down. When they made the offer to acquire Groupon for $6 Billion (yes with a "B") and were turned down, they decided to launch their own!
It was announced by Mashable today: http://mashable.com/2011/01/20/google-offers/
Then, it was picked up by the Washington Post: http://voices.washingtonpost.com/fasterforward/2011/01/google_offers_confirmed_google.html
Now, if you Google it, it will be popping up all over the place since this will create a huge buzz!
I am sure Groupon will try to tie this up in the courts for as long as possible but it is really tough to patent and copyright … (5 comments)
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boise idaho real estate: Franchised Real Estate verses Independent Brokerages - 01/09/11 02:54 PM
Unfortunately, many consumers do not take the time to research and compare real estate agents. Realtors are not a commodity and even within the exact same office, their services will be greatly varied since they are "Independent Contractors" licensed with a broker at their company. Ultimately, it is up to each individual Realtor as to what tools they invest in and what advertising and marketing they are willing to commit to! I have worked for many great real estate "franchises" like Coldwell Banker, John L. Scott, and three separate RE/MAX offices prior to opening my own independent real estate brokerage in … (5 comments)
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boise idaho real estate: How to choose the right listing agent - 09/04/10 03:12 PM
The most important things a seller should consider when hiring a Realtor include:
How knowledgeable is the Realtor in the type of property being sold? What percentage of the Realtor’s listings actually sell and how does that compare to the general MLS? Average Days on Market; Average List to Price Ratios; % expired before selling; % canceled before end of the contract What is the Realtor’s marketing plan and is it in writing for the seller to sign? Does the property being sold match the target market of the marketing plan? If it is a property that will most likely be … (24 comments)
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boise idaho real estate: Advice for new Realtors - Are you crazy? - 08/27/10 03:56 PM
This morning, I was asked to welcome the 30+ new members to our association in my role as the 2010 President of the Ada County Association of Realtors. Our Executive Officer got nervous when he saw my outline!
Are you Crazy?
People are born/dead; Married/Divorced Transferred in/out I welcomed the group and proceeded to ask them by a show of hands how many people had asked them if they were crazy coming into the real estate sales business in this economy. Over 2/3's of them raised their hands! A large part of being a Realtor is being able to over … (5 comments)
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boise idaho real estate: 2nd Quarter 2010 Real Estate Market Report for Boise ID SMSA - 08/25/10 12:00 AM
The National Association of Realtors has just released their market updates for most of the major markets in the United States. For Boise, Idaho, please click the following link:
http://www.realtor.org/wps/wcm/connect/21225a0041b638cca1d7fda3819af93a/lmr_id_boisecity_Q22010.pdf?MOD=AJPERES&CACHEID=21225a0041b6
If you would like to check out other areas, click here:
http://www.realtor.org/research/subscription_data/localmarketreports
Thanks to the research department of the National Association of Realtors for publishing this data!
… (1 comments)
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boise idaho real estate: Basic real estate economic principles - don't generalize the market - specialize and define it! - 08/20/10 02:24 PM
As the owner/broker of Progressive Realty Corporation in Boise, Idaho and as the 2010 President of the Ada County Association of Realtors, I am always being asked "Have we hit the bottom?". My answer is typically "The bottom of what?".
All real estate is local and each home, or property, is unique! I won't make such broad statements about the market since that tends to commoditize our industry. Here in the Boise, Idaho area, I have seen some areas begin to appreciate while others decline.
It really boils down to basic economic principles. The mass media is always focusing on "macro economics" and … (5 comments)
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boise idaho real estate: Beware of the accuracy of real estate website portals! - 07/18/10 02:50 PM
In researching my local market in Boise, Idaho; I was curious about the accuracy of various consumer website portals. I decided to drill down to a small city in our area to make the data more manageable so I selected Kuna, Idaho.
For example, I pulled a small city near here called Kuna, Idaho. Searching for Single family homes for sale I found the following: Cyberhomes = 177 Homes.com = 142 MLS = 239 Realtor.com = 239 Trulia = 192 (after limiting to single family and not foreclosure listings) Zillow = 171 (but I had to remove for sale by owner, … (3 comments)
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boise idaho real estate: Marc Whitmore Joins Progressive Realty Corporation as a licensed Realtor in Boise, Idaho! - 07/16/10 06:03 PM
I would like to welcome Marc Whitmore to Progressive Realty Corporation! Marc is a Realtor in Boise, Idaho and was previously licensed with another brokerage here in Boise.
He brings his internet based marketing plans to help him market toward apartment complexes, multifamily units, and investment properties in the Boise area.
He will primarily be focusing on these types of income properties as well as helping the tenants become property owners since he is also familiar with first time home buyer programs in the Boise area including 100% financing options that still exist today.
… (1 comments)
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boise idaho real estate: Business Darwinism - If you don't evolve you will die! - 07/11/10 12:44 PM
I have always been intrigued by the creation vs. evolution theories that are out there. It doesn't matter at this point how we got here, but if we don't want to go the way of the dinosaurs, we better think about how we might want to "evolve" our business models.
For example, when I attended Boise State University in the early 1980's to get a degree in Marketing, Google didn't even exist. The God(s) had not yet created it. Google evolved from a Larry Page and Sergey Brin's "Digital Library Project" when they were Stanford University graduate students. Back then I … (4 comments)
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boise idaho real estate: May 2010 Ada County Residential Real Estate Analysis - Boise, Idaho - 07/02/10 11:27 AM
A quick look at the residential real estate market in the greater Boise, Idaho area shows in fact that we have a pretty solid market for affordable homes. The graph also illustrates the time tested saying in real estate of “Location, Location, Location” since two areas in Ada County have four month inventory levels or less and yet South East Meridian currently has 8.3 months of inventory in this price range!
I will wait a few more days to post the June numbers since some offices are still inputting their sales from the end of the month.
If … (2 comments)
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boise idaho real estate: Walk to the Golf Course from this nearly new 4 BR Boise Home for only $194,900! 12596 Horsham, Boise, Idaho - 12/11/09 10:25 AM
If you are looking for a home under $200,000 that has:
walking distance to the golf course that brand new home feeling; four bedrooms, a great room for open living space, Separate Living and Family Rooms; a bonus room (media, studio, etc.) over the garage three car garage you will find it at !
… (2 comments)
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boise idaho real estate: Dr. Lawrence Yun NAR's Chief Economists speech in Boise Idaho - 10/19/09 05:08 PM
It was a pleasure listening to Dr. Yun's perspective again today as he tailored his speech to the Idaho market. I have had the privilege of hearing him speak at several NAR meetings in Chicago and in Washington, DC previously.
Some of the key take away points for me today included:
Of the $800 million in stimulus money handed out , $10 million of it is doing what it was intended and that is the $8K First Time Homebuyer Tax Credit; The market is still not quite self sustaining since many buyers are still on the sidelines concerned about even lower pricing; … (5 comments)
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boise idaho real estate: Idaho Neighborhood Stabilzation Program Funds Are Available! - 10/01/09 12:24 PM
I was one of the first Realtors in the State of Idaho to write an offer for a buyer using the Neighborhood Stabilization Program (NSP) Program. It is a great program because instead of discounting a homes value driving the neighborhood prices even lower, it allows them to be purchased, fixed up and resold using NSP funds and then allows for carrying back up to a 20% second deed of trust at 0% interest with no payments (on an as need basis) to keep the valuations up without impacting the buyers payments!
The State of Idaho has been awarded $19.6 million … (9 comments)
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boise idaho real estate: $8K tax credit - can it be used on mobile/manufactured not on a foundation? - 06/03/09 04:28 AM
I had a consumer email me today asking if they could still qualify for the 2009 Tax Credit for First Time Home Buyers if they purchased a mobile/manufactured home and put it on a lot they would by without having to put it on a permenant foundation.
My gut tells me no since at least in Idaho the home would still be considered personal (not real) property. What if it is a mobile/manufactured on a rented space?
I don't recall ever seeing this addressed in any of the publication I have read on this topic. Any assistance would be appreciated since … (5 comments)
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boise idaho real estate: Do I have to wait 28 more years to be "average" enough to die? - 05/03/09 02:04 PM
I can't believe how many people are caught up on averages these days. I personally believe in being unique with a purpose!
For example, why is it when Realtors do a CMA on a house they take the time to differentiate the home they hope to write on offer on or list, to see what sets it appart to determine value, yet they don't typically take the time to do an analysis on themselfs to see where they are different and where they add value? I make sure that my marketing presentation sets me apart from the other 3,200 Realtors … (6 comments)
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boise idaho real estate: Here is a link to check the legality of doing BPO's in your state - 04/30/09 12:57 PM
The scales of justice may appear blind, but they do eventually come to balance. Please check your own state laws to see what is allowed and what isn't. Here is a pretty good source:
http://appraisalnewsonline.typepad.com/files/bpo_state_laws.pdf
I have posted several blogs about BPO's in the past and the one point I keep trying to drive home is who the person requesting the BPO should determine how you respond. I have heard several agents say they have done over 1,000 BPO's without a listing. I would bet that most of those BPO's were done for third party servicing company's that are not even authroized … (11 comments)
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boise idaho real estate: Figures don't lie; however liars figure! - 04/28/09 12:37 PM
I have looked at a number of factors in the Boise North End (MLS area 100) and found some interesting data:
1) Sales in the north end have slowed like most areas.
April 2007 = 29 April 2008 = 17 April 2009 = 6 2) Average Sold prices:
April 2007 = $309,024 April 2008 = $320,575 April 2009 = $273,216 3) Median Sold prices:
April 2007 = $259,000 April 2008 = $287000 April 2009 = $313400 4) Average Days on Market: (lowest was June 2007 @ 19 days and the highest was October 2008 @ 92 days)
April 2007 = 81 … (0 comments)
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