Boise, Idaho Real Estate News and Information

Congrats to Boise State Broncos on their second BCS berth

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 06 Dec 2009 22:45:28 -0600

Congrats to the Boise State Broncos on another perfect season and another invite to a BCS bowl.

Despite the fact that BSU and TCU both got ripped off by the system yet again. It just goes to show how the BCS is more about money than matching up the right teams.

Besides, it gives all those clowns who talk about how tough their confrrences and schedules all another excuse about how we can't play at their level.

Too bad none of them are willing to play at ours.

A long over due than you to my friend Janna

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 06 Dec 2009 22:04:53 -0600

It's long over due but I still feel I need to say than you to my friend Janna for helping out a client I referred to her months ago. When the client called me and told me about her situation my heart sank. It was a nasty investment scheme that had her headed into foreclosure.

I told her I would put her in touch with someone who could help her out in the local market area. Not one to just hand out referrals to anyone I asked around but in the end decided I would go with who I felt had what it took.

When I called Janna we off to a good start, she answered her phone. Despite being on her way back from vacation. That's a plus in my book. I questioned her about bit about short sales and she was honest about the fact she'd not handled the listing side of a short sale yet. I'd be lying if I said I didn't have some hesitancy about handing off this client.

Then she said something along the lines of "look, I've got no problem learning how to do these." She promised to follow up with the client and let her know she'd be in touch as soon as she was back in town. Little did she know just how much she was going to learn throughout this experience. I swear if you looked up persistence in the dictionary there would be a picture of her.

Janna closed that short sale and was diligent about keeping me informed along the way. She called when she had questions, and educated herself here in the rain. Even when others told her you can't win them all, she proved them wrong.

So to her I say thank you and I'm sure if they were handing out capes for short sale heroes, Janna would first in line. If you have someone who needs help in Northern Idaho, Janna would be first to call on my list.

Bank approved short sale in Nampa, ID - 7742 Arlington

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 22 Nov 2009 20:31:09 -0600

The great little home would be perfect for a first time home buyer or as an investment property

7742 Arlington
MLS # 98406601

This super clean Nampa, Idaho home went under contract almost as soon as we listed it. Well it's available again. The buyers canceled their contract two days before the lender issued the approval letter. We have the approval letter in hand and this is a steal at 85K with concessions approved for FHA and VA loans.

Call for a private showing.

This is a short sale and final approval from the lender is required.

Another Meridian Idaho home sold after 7 days on market - 2892 Kandice, Meridian, ID

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Wed, 18 Nov 2009 21:24:34 -0600

SOLD! - 2892 Kandice, Meridian, Idaho

Delivering results is what this business is all about. We managed to get this house under contract in 7 days! My client was able to relocate without haveing to worry about supporting two households. Hassle free and happily we handled all the details remotely and closed on time.

Hearing the relief in her voice when I called to let her know we had funded and recorded was a great feeling.

If the listing agent will do it for you, they'll probably do it to you.

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Tue, 17 Nov 2009 16:07:49 -0600

I was recently asked by an agent if they could outbid my current offer on a short sale that had been submitted to the bank.

The agent got very huffy with me when I explained that I was only going to submit one offer at a time to the lender and that it wouldn't be fair to the current buyers for me to simply let them be out bid after patiently waiting for me to get a short sale approved.

His reply was "You're not going to submit it to the lender even though the law requires you to present all offers?"

To which I informed him that Idaho State Law requires me to present all offers to my seller which I will gladly do. However, the lender is not a party to the contract so I'm not required to submit it to them.

Since there is not a whole lot of set standards for dealing with short sales, here's my stance, a buyer who wants to submit a higher offer is welcome to and should the lender counter back at a higher price and the first position buyer doesn't want to accept the terms, the second place offer will be submitted.

You're welcome to disagree but I prefer to work with integrity and give the buyer who has put in the time to get a fair shake at having their deal worked. I don't agree with the agent mentality to shop short sale offers to drive up the price. It might not be illegal but it sure feels unethical.

Contractually, depending on what addendums you have, you might not be able to just bump buyers will nilly whenever a higher offer comes in.

I want a buyer's agent to feel comfortable in submitting offers on my short sales and know that an accepted offer is going to be worked until it's approved or dead and only then will I go looking for other options. If you were the buyer in first position wouldn't you hope the same courtesy was being extended to you?

Namp, Idaho home for sale in Camden Heights Subdivision

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 15 Nov 2009 22:05:13 -0600

Namp, Idaho home for sale in Camden Heights Subdivision

74 S Newberry Street
MLS #98419975

Uniquely simple Corey Barton floor plan with a huge upstairs master bedroom with 2 equally spacious main-level bedrooms. Living room with vaulted ceilings & a ceiling fan and it's open to the kitchen. Plant/decor shelving throughout. Great back yard here with a patio, garden space off to the side, and maturing trees - sprinkler system in place and fully fenced! Well maintained home with cute curb appeal in NW Nampa!

This is a short sale and final approval from the lender is required.

Idaho short sales and foreclosures - Common myths about Idaho foreclosure

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 15 Nov 2009 21:49:40 -0600

There's a lot of information surrounding foreclosure in Idaho. Separating fact from fiction is not always so easy. We created a site dedicated to helping Idaho homeowners understand the foreclosure and short sale process in Idaho.

Start here with common myths about foreclosure in Idaho

For more inforamtion about short sales and foreclosures in Idaho visit www.HopeForIdaho.com.

Idaho short sales - 7 Mistakes to Avoid in Pre-Foreclosure

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 15 Nov 2009 21:36:43 -0600

Idaho short sales - 7 Mistakes to Avoid in Pre-Foreclosure

For Idaho homeowners at risk of losing there homes to foreclosure, a short sale can be a win-win for both owner and lender. There are, however, some common pitfalls that can be detrimental to avoiding foreclosure in Idaho.

Here are seven mistakes to avoid:

1. Waiting too long to do something.

2. Choosing to spend thousands of dollars to have an attorney file bankruptcy assuming it will make a foreclosure go away.

3. Choosing to sign away your Deed to your home to a third party and to give your home away

4. Choosing a lender Forbearance (payment plan) and not taking it. As long as you can—do it!

5. Choosing to "just walk away" and thinking "They can’t come after me after the foreclosure.”

6. Working with a person who is not experienced in the foreclosure process.

7. Not taking action now.

For a more in depth explanation of these please visit www.HopeForIdaho.com. This is a free site for Idaho homeowners looking for information regarding short sales and foreclosure.

Idaho short sales - 6 Keys to successful short sales in Idaho

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 15 Nov 2009 21:19:38 -0600

Idaho short sales - 6 Keys to successful short sales in Idaho

As a listing agent handling a fair amount of short sales in Boise, Idaho, these general guidelines tend to increase the likelihood of your short sale success:

Only accept realistic short sale offers.
Work with a qualified short sale agent to negotiate with the lender on your behalf.
Avoid inexperienced agents and scams.
Save time, hire the right person to represent you the first time.
Maintain the home and make it as appealing as possible to potential buyers.
Be proactive in doing your part of the short sale process.

While there is not guarantee a lender will accept a short sale in Idaho, you can start with these guidelines to increase your odds.

Idaho short sales are complex transactions and getting the right information is key. For more information on short sales and foreclosure in Idaho visit www.HopeForIdaho.com.

Boise State Broncos didn't get much of a fight from rival Idaho Vandals

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 15 Nov 2009 21:01:26 -0600

You always hope a rivalry game is just that, a game. While the Boise State Broncos did move up a spot in the latest BCS polls, the Vandals didn't offer much of a fight.

Either way it's still fun any time this game comes to town. We got to enjoy watching the game (post technical difficulties) in a beautiful cabin in Cascade, Idaho. Even though some of our good friends are Vandals fans (Matt and Cassie if you're reading this, sorry for your loss), we set aside our differences and we had a great time.

Onward to a BCS bowl boys!

If you represent yourself as a buyer in an Idaho short sale purchase, can you demand the bank pay you a commision

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 15 Nov 2009 19:16:01 -0600

If you represent yourself as a buyer in an Idaho short sale purchase, can you demand the bank pay you a commision?

First and foremost, the money you think you're saving by doing this is not worth it. These are complex transactions and having an experieced agent to help you navigate it is worth far more than you're going to save.

If you're not an agent, I would say it's highly unlikely you'll get the lender to give you the commission. This is probably an instance where representing yourself is not going to net you anything extra.

In a short sale situation, the lender is going to look at the HUD and in the section that details who the commission is going to, they are going to see only one brokerage listed. They will in all probability cut the listing agents fee significantly since both sides are being paid to one brokerage.

The lender does in fact take into account the commissions on a short sale. They take into account any fees that reduce the net below what they have determined to be acceptable. At that point they will start making cuts, and commissions are usually one of the first line items they go after.

Technically, the fees for a listing are an agreement between the listing agent and seller. The listing agent and seller agree in the listing contract what percentage or amount they are going to offer the selling agent. If you are representing the seller and are not a licensed agent, you are not a party to that contract and are not considered the selling agent.

Do you know how your are being represented in the purchase and sale agreement? If you let the listing agent fill out the purchase and sale agreement and used one of our association's forms you are most likely being represented as either a limited dual agent without an assigned agent or the brokerage is acting as a non agent on your behalf.

In this case the listing agent is also the selling agent.

Bottom line is demands usually fall on deaf ears with lenders in short sale situations. They are going to do what policy mandates.

Are Ada County, Idaho tax assessed values accurate representation of my home's value

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 15 Nov 2009 18:56:33 -0600

Are Ada County, Idaho tax assessed values accurate representation of my home's value?

This really depends on the area. For certain parts of Ada county, the market value of homes is worth more than the assessed value and in other parts of the county the actual market value is lower.

The tax assessed values have traditionally lagged market values. In Ada county for instances it took them two years to catch up with market values and by that time the market was already moving backwards and they were assessed above market value. Needless to say, I don't envy assessors, they can never win.

Bottom line, your best determination of value is going to be through an appraisal. That is what the lender is going to base their decision off of. If you're a cash buyer, it still may be worth having an appraisal done.

If you're just trying to get an idea of value, your agent can pull the most recent comparable home sales for the area and should be able to give you a pretty good idea of what market value is.

Not even the federal government can get loan servicers to act

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Tue, 10 Nov 2009 15:54:55 -0600

I had to share this. For all of us frustrated by non responsive loan servicers you're not alone.

In the The Daily Real Estate News email from Realtor Magazine there was an article published by Alan Zibel with The Associated Press stating economists have concluded that the goals set by the Obama administration to help 3-4 million troubled homeowners is not going to be possible.

"Federal officials say they are doing their best and blame loan servicers for dragging their feet." (Zibel, November 10, 2009)

My question is, if the federal government can't get loan servicers to act, who can?

As a real estate professional I am becoming more and more convinced it is on us to fix this. While the lenders and servicers keep having their way with troubled homeowners, we're going to have to keep wading into the fray to help troubled homeowners providing sound service and advice.

Some days I feel like a part police man, sniffing out scams, part grief counselor, and when I get a win one for my clients, a superhero.

The city of Boise being sued by the homeless

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 08 Nov 2009 23:23:39 -0600

As homeless shelters overflow, seven homeless people in Boise are taking their case to the courts. A lawsuit has been filed in federal court over Boise rules against camping in public spaces.

You can read the full article here: Homeless sue over camping rules.

In my opinion, in these troubled times, it's wrong to penalize people fallen on hard times with no place to go. We shouldn't make it any harder than it already is to be homeless.

Being prepared for anything - Even when you don't have all the answers

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 08 Nov 2009 22:18:06 -0600

Being prepared for anything….

Just thinking about this topic as my wife is getting ready for her upcoming interviews for PA school. As we mull over questions that she might face on ‘D’ day I think we’ve settled on the fact that there will probably be a few that are just unexpected.

So I’ve asked myself what is it that ‘those’ people do differently. You know the ones that everyone likes, that seem to put everyone at ease and always get what they want with what seems like very little effort.

I’ve decided that what they do is act and react with confidence and certainty. As my wife prepares for her interview and as we all prepare for the unexpected questions in life I think sometimes we just need to take a deep breath and go forth with confidence.

We may not always be prepared for what we find ourselves up against, but sometimes the only way to get others to believe in you is to truly believe in yourself first.

If this sounds like an inspirational, you can do it, go forth and prosper kind of post… well I guess it is. Trust your gut, speak from the heart, and do both with certainty

It's Sunday and the Boise State Broncos did it again this weekend!

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 08 Nov 2009 22:02:31 -0600

What do you do when no one wants to give credit where credit is due? You give it your best week in and week out until the stench of the hypocrisy known as the BCS reaches so high that all the figure heads in the big six can't deny it.

Every week the Boise State Broncos have to put up with all the naysayers and every week they put up a "W".

It's the same old excuse week after week. We don't play in a big conference, we don't have a tough schedule and etc, etc. Well guess what the excuses don't hold water so long as the schools from the big conference keep refusing to play us.

Banks don't want to foreclose, or maybe they do

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Fri, 06 Nov 2009 14:55:17 -0600

First and foremost, I'm a big proponent of short sales. Done right, short sales can be a win-win for everyone involved. The lender lowers their loss, the seller avoids foreclosure, and the buyer gets a great deal.

So this is one that left me scratching my head and if anyone would like to explain please chime in.

The story goes:

I had a property listed and after some time on market we eventually settled ended up at $129,000. How did I get to this price? Well after the first offer went south the negotiator advised me to lower it to that price and let him know how it progressed.

Another offer came and wen while we tried to get the first (Chase) and second (Resurgent) to play nice with each other and agree on who gets what. After some mediation I did get the first to approve a higher payout to the second and in comes a third offer. Now the second decides to 180 on me and wants even more money.

The buyer who really wants the house arranges to borrow the additional funds. All is well until Chase comes back and says that the home is price too low they have a BPO that supports a higher value (don't get me started on BPO agents, there are a lot of people running around doing these who have no business establishing value). Odd, considering I priced where my negotiator from Chase asked me too.

Ultimately with the second digging their heels in and not responding and the first deciding they wanted to increase their net, the buyer decided it wasn't worth it and moved. My seller who had run the emotional gamut 3 times in a row decided to throw in the towel.

Well I decided to attend the auction just to see exactly what the lender was going to net.

As bidding progressed the home eventually sold for $98,100.

The net for the short sale offer we submitted to the lender was $110,931 to Chase with the sellers willing to sign a promissory note to the second.

The rocket scientist in loss mitigation cost themselves an extra $12,831 and Resurgent got a big fat goose egg.

I've told clients that banks don't want to foreclose because it costs them more money than a short sale many times, but I'm starting to wonder if the monkey's in loss mitigation know that.

Please don't call me an expert, just call me when you want it done.

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Tue, 03 Nov 2009 17:25:28 -0600

Please don't call me an expert, just call me when you want it done and hopefully sooner rather than later.

With the slew of certifications and designations flying around out there I think the word "expert" or "specialist" has started to develop a negative connotation with me.

That's not to say they aren't worth obtaining, but it's hard for a consumer to know which is valid. Sure, their website says they're the Number 1 expert but how is the consumer to differentiate which requires some legitimate training/production and which you can pick up for $59.95 per month?

Don't get me wrong, I'm sure if you read far enough back in my blog posts or combed through my marketing materials the term "expert" or "specialist" would probably surface. With the onset of the foreclosure and short sale markets, those are two terms that now raise a red flag with me.

So what would I tell a consumer seeking the truth?

I've resorted to telling clients that I don't consider myself either of those. I'm good at what I do, and I have the experience to back it up. I've taken the classes and continue to do so. This is an industry in which you should be a life time student. I even have some designations you've probably never heard of.

Do they count for anything?

Yes, in that I tend to be certified or carry designations in areas that I truly have experience working in. My production validates my claims.

No, in that our industry doesn't require us to disclose any more than I'm an "expert" or a "specialist" because I've taken a class that says so, despite the fact that the "expert" or "specialist" production may tell a different story.

The fact is we're in a market that changes so rapidly it takes a daily effort to keep up. To me being an "expert" or "specialist" means you know everything there is to know about something. In regards to short sales and foreclosures, you'd be hard pressed to find an agent willing to claim they do, and I'd be suspect of anyone who did.

Boise State Broncos do it again and hopefully the trend continues

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 01 Nov 2009 21:45:43 -0600

Boise State Broncos deliver a victory over the Spartans!

It's Sunday and time for me to give it up to the Boise State Broncos for another convincing win.

Yes, they still fumbled a snap but only one this time. Actually I would like to congratulate any of the teams outside the BCS who are in the top ten. If the trend continues I don't see how they can keep denying all the schools a fair shake.

Meridian, Idaho acreage property for sale - 1811 N Leisure Lane, Meridian, ID 83646

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 01 Nov 2009 21:30:47 -0600

Meridian, Idaho acreage property with detached shop!

1811 N Leisure Lane
MLS #98418798

Great acreage property tucked away in central Meridian within walking distance to schools and the library! Convenient single-level floor plan with the open dining/living room concept, lots of built-ins, an elegant tile-framed fireplace, a covered back porch, a hot tub patio, a custom water fountain, a fire pit, and more set this home apart from all others! Well-manicured and easily maintained 1.2 acres. Additional detached shop can house multiple cars & toys - use your imagination!

This is a short sale and final approval from the lender is required.

Greenbriar Commons home for sale in Boise, Idaho - 10391 W Kingsbriar Drive, Boise, ID 83709

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 01 Nov 2009 21:09:15 -0600

Greenbriar Commons home for sale in Boise, Idaho

- 10391 W Kingsbriar Drive, Boise, ID 83709
MLS #98418327

Great home now available in Greenbriar Commons! Three roomy bedrooms upstairs separate from the large and open main-level great room/kitchen layout. Kitchen has an island/breakfast bar combo, lots of cabinets and granite counter space, and an adjacent dining area. Great room has an elegant fireplace. Nice tile counters in the bathrooms. Upstairs bonus room, too! Fully fenced and low maintenance back yard.

This is a short sale and final approval from the lender is required.

Happy Halloween Rainers!

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sat, 31 Oct 2009 17:53:56 -0500

I couldn't resist posting this picture of my little vampire. At just over a year old he already looks as fearsome as any. He's sure to make the strongest of men weep when they see him. That is if he doesn't fall asleep before dark.

Have a happy Halloween and be safe.

What's 418 feet long and moves at 52 mph across the water?

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 25 Oct 2009 21:25:49 -0500

Every once in a while I run across a feat in modern technology that amazes me. I had to share this one. It seems the U.S. Navy has a new toy and if you're a pirate trying hijack a ship, you might want to think twice.

One of two new designs vying to be selected for production.

You can get the full story here:

Navy's newest warships top out at more than 50 mph

Boise State Broncos do it again and this time convincingly!

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 25 Oct 2009 20:57:07 -0500

Congrats to Boise State Broncos for a convincing win over Hawaii!

In case you've missed it, I like to congratulate the Boise State Broncos every Sunday. They put up another big "W" up Saturday.

Despite TCU getting by them in the rankings, I still have faith they will make it again this year.

Usually I have nothing but good things to say about them but if I were to mention one thing they could improve on, get rid of the terrible announcers that handle the local broadcast. It's really takes away from the game.

And if channel 7 wanted to get some decent HD cameras that wouldn't be so bad either.

Idaho loan modification help - Knowing which offers to help are legitmate.

Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise) — Sun, 25 Oct 2009 20:25:28 -0500

Idaho homeowners behind on the mortgage should exercise caution when reviewing offers to help. Knowing which offers of help are legitimate and which are designed to take your money, could save you thousands of dollars, and your home.

When faced with prospect of foreclosure in Idaho a loan modification may be an option. Chances are your bank is not going to offer this willingly. I encourage homeowners to contact their lenders directly. In fact paying someone to do a loan modification in Idaho won't give you any more chance of success.

Loan modification letters that various companies are sending Idaho homeowners in default look very convincing. Some even appear as if they were sent on behalf of the bank.

You have to be careful and make sure to read the fine print. As with most things, if it looks to good to be true, it probably is.

Here's a prime example of such a letter some of my Idaho clients received in the mail:

If you read the wording at the bottom, you see the disclosure stating that this company is not affiliated with the bank. They are also claiming that your loan can be restructured under the "Economic Stimulus Act."

What they won't tell you is you can figure all this out on your own with a quick visit to www.MakingHomeAffordable.gov. You can also get free couceling by calling the number listed on their website.

While a loan modification is a valid option for Idaho homeowners facing foreclosure, I don't recommend paying someone to do it for you. Chances are you'll find yourself out of money and worse off than they found you.

For more information on foreclsoure, short sales, and loan modification in Idaho, visit www.HopeForIdaho.com.