https://activerain.com/blogs/liamspencer en-us https://activerain.com/blogsview/4230505/lenders-starting-to-show-more-flexibility-with-lower-credit-scores The average credit score among borrowers who received a mortgage in September was 732, down from a peak of 750 a year prior, according to new data released today by Ellie Mae, which provides mortgage lenders with loan origination systems. That’s also the lowest average credit score since the company started tracking this data in August 2011. In addition, a greater share of borrowers have lower credit scores. Thirty-two percent of mortgages doled out in September went to borrowers with an average FICO credit score (the measure used by most lenders) of less than 700 compared with 17% a year ago, according to the findings. The changes suggest a critical shift is under way in the housing market, which could help more applicants gain access to home loans. “It does seem there’s a little bit of an opening that’s going on,” says Brad Hunter, chief economist at Metrostudy, a housing-market research and consulting firm. “Lenders are being more lenient.” Liam Spencer, Spencer Group Realty (Spencer Group Realty) Thu, 24 Oct 2013 05:12:35 -0700 https://activerain.com/blogsview/4230505/lenders-starting-to-show-more-flexibility-with-lower-credit-scores https://activerain.com/blogsview/4225774/boise-ranked-eleventh-nationally-among-most-livable-cities-in-the-us Boise is No. 11 in Livability.com's inaugural list of the 100 Best Places to Live. The City of Trees scored well in the amenities, health care and education categories. It's total "LivScore" of 630 left it tied with Bellevue, Wash., and just behind Rockville, Md. West Coast and Rocky Mountain cities dominated the list, which included only small- to mid-sized cities with populations between 25,000 and 350,000. Livability.com partnered with the research team at Richard Florida's Martin Prosperity Institute at the University of Toronto to evaluate more than 1,700 cities throughout the country. Livability.com says its methodology concentrated on factors that matter most to Americans. The eight areas of livability measured in the index are: amenities, demographics, economy, education, health care, housing, infrastructure and social and civic capital. For more on the methodology, click here. The top 10: 1. Palo Alto, Calif. 2. Boulder, Colo. 3. Berkeley, Calif. 4. Durham, N.C. 5. Miami Beach, Fla. 6. Rochester, Minn. 7. Salt Lake City 8. Eugene, Ore. 9. Reno, Nev. 10. Rockville, Md.Read more here: http://www.idahostatesman.com/2013/10/16/2818132/boise-ranked-no-11-in-livabilitycoms.html#storylink=cpyRead more here: http://www.idahostatesman.com/2013/10/16/2818132/boise-ranked-no-11-in-livabilitycoms.html#storylink=cpy Liam Spencer, Spencer Group Realty (Spencer Group Realty) Sat, 19 Oct 2013 07:00:42 -0700 https://activerain.com/blogsview/4225774/boise-ranked-eleventh-nationally-among-most-livable-cities-in-the-us https://activerain.com/blogsview/4209557/list-your-home-first-or-find-your-new-home-first-- In some instances, individuals become motivated to sell once they've landed on that special house and have determined a time frame for purchasing. The question remains however, should you first list your existing home for sale before putting an offer in on the new one? It's a question that plagues many buyers. The common wisdom among real estate professionals is that the best way to move forward is to put the existing home on the market, then begin to narrow down the scope of homes one wishes to buy. Why? When a buyer submits an offer on new property without having their existing home for sale, they are putting themselves at a definite disadvantage when it comes to negotiating. The offer will be contingent upon selling their present home. A seller will most likely ask his agent to continue to market the home even with the offer in place. Too, the terms of the buyer- price, time to close, and any other requests will have less power to persuade the seller to negotiate. Understandably a potential buyer doesn't want to get stranded between selling a home and trying to find another existing one, but the reduction of risk may not pay off as well when it comes to getting the best deal on the new  home as one otherwise would if the existing home were already on the market, or better  yet, had an offer. In short, a contingent offer is a weak offer. Selling and buying comes with risks. But if one wants the best deal and enable the agent to negotiate hard to win the home, having the existing home under contract or at the very least marketed, is the best choice. Liam Spencer, Spencer Group Realty (Spencer Group Realty) Wed, 02 Oct 2013 04:58:30 -0700 https://activerain.com/blogsview/4209557/list-your-home-first-or-find-your-new-home-first-- https://activerain.com/blogsview/4194672/the-internet-vs--just-driving-around-looking-for-homes-- I met earlier today with a client for whom we will list their property for sale in the Boise, Idaho area. It sits on two acres, have a lovely well landscaped yard, swimming pool and the home itself has plenty of appeal. The seller asked if I could forgo putting a yard sign in front of the home and eliminate a corner directional one as well. In his words, he doesn't want to upset his kids by giving them the uncertain feeling the home is going to be sold and they'll have to move. No matter how I framed the questions back to him and explained the importance of a visible yard sign with either Sikku or some other call capture mechanism plus flyers we would diminish our marketing ability. His reply was that everyone uses the internet anyway to find homes, and dismissed my attempts to pursuade him otherwise was verging on being insensitive. Logically I backed off. I know there are plenty of older buyers who haven't a clue much less a computer at home preferring to looking the "old fashioned way" by just driving around. Boise get its fair share of inbound folks flying in for a few days, renting a car, driving areas of town looking at locations and gaging prices from one part of town to the next. Many never speak to a Realtor, nor want to until they think they've found a match. I can easily spot them as they creep slowly through neighborhoods, stopping at homes with yard signs, pulling flyers and driving off. My concern is that we'll miss one of these shoppers. The home is on the outreaches of town in horse country, definitely off the beaten track out of home developments. So for all it's worth, and until technology reaches at mile stone that eliminates the need to drive the streets, I think it's safe to say most people eventually couple their internet search with a fair percent of driving around. What's the split of time devoted to the driving portion of the home buying process? I do not know, but it's go to be high. Liam Spencer, Spencer Group Realty (Spencer Group Realty) Mon, 16 Sep 2013 07:35:50 -0700 https://activerain.com/blogsview/4194672/the-internet-vs--just-driving-around-looking-for-homes-- https://activerain.com/blogsview/3805334/the-demise-of-the-formal-dining-room-vs--outdoor-living With the uptick of the housing market in Boise, Idaho , I've had the pleasure of taking a number of clients through new construction vs. existing homes more so than in the previous five years. This is due to the lack of inventory of existing residential property leaving buyers no other choice but to look at both. In my travels I have observed a growing trend among builders, which I'll assume is a reflection of buyer taste, and that is very few homes the lower and mid price levels ( $ 150,000-$275,000 ) have any semblence of formal dining rooms. Is the trend toward more outdoor living- patios and balconies, large walk through door ways from kitchen space and more open less formal dining where people can mingle, eat and enjoy one another's company in a more free flowing layout? I think so. The demise of formal dining room as we traditionally have seen it in smaller homes is being replaced with free standing counter tops and more space granted for foood preparation and cabinet areas. That is not to say as Americans we are abandoning formal dining. Thanksgiving and Christmas dinner will remain the hallmarks of formal dining. However think of it as a trade off- formal dining space that used maybe twice or three times a year for a more relaxed space for informal eating. Small foot prints of home just cannot do both and builders are echoing the drive toward social gatherings and not sit down dining. Blame FaceBook, or maybe it's the other way around. FaceBook is a direct reflection of our emerging culture to have many acquaintences and friends with whom we share our lives. Why not extend that same rationale to the home with get togethers with larger numbers of people in our homes? My wife and I will still host formal dinners or celebrate with a close few friends and put out the best China, prepare a special dish topped with first class wine, but these indulgences will take a back seat to standing around in shorts, a beer in one hand and a chip in the other talking over vacations and wha the kids are doing. Liam Spencer, Spencer Group Realty (Spencer Group Realty) Fri, 02 Aug 2013 12:28:53 -0700 https://activerain.com/blogsview/3805334/the-demise-of-the-formal-dining-room-vs--outdoor-living https://activerain.com/blogsview/3802033/what-s-the-profile-of-today-s-home-buyer- With nearly eight years in real estate I can now take a collective glance over the past several years and see the emergence of a different sort of buyer and seller.  As a Realtor, I  know I need to understand where they are coming from; a client's needs, wants and expectations if I am to better serve. Here's a few ideas I've gelled down into five or so observations: 1) They want to be involved at every stage of the buying or selling process. 2) They have a fairly strong sense of market value. 3) They use the internet to find values and check out homes for sale often. 4) They have a good sense of quality. 5) The search time is shorter. 6) They expect more of a consultative approach rather than a selling one. Information gathering takes place very early on for the consumer, whether buyer or seller. They do their homework long before they engage the assistance of professionals such as lenders and real estate agents. They consider themselves on the same level and want their understanding acknowledged and be listened to. Liam Spencer, Spencer Group Realty (Spencer Group Realty) Tue, 30 Jul 2013 07:51:15 -0700 https://activerain.com/blogsview/3802033/what-s-the-profile-of-today-s-home-buyer- https://activerain.com/blogsview/3797226/should-we-be-worried-about-the-next-real-estate-bubble- Traditionally, housing markets are not as prone to bubbles as other financial markets. So the question remains: Should we be worried that we may be sliding into the next real estate boom or bubble? Perhaps we should. But perhaps far more important is the fact that all of today's strong market fundamentals could be worked with creative minds that want to create- with perhaps a few twists and turns- a universe of mortgage loans that works to the benefit of the maximum number of real estate buyers and doesn't do damage because of its "artificial" attempts to create the ideal world with the best interest rates today...with little regard for the effect of higher rates in the future. We may never hear the last word about the slippery subject of booms and bubbles. Hopefully though, we can use the discussion of the subject to improve our real estate market- as more homes sell and fewer are withheld from the market- will itself smooth out into a more recognizable place in which value rise more slowly and  homes sell in less frenetic transactions. Meantime, to buy or sell real estate in this marketplace, avail yourself to the best professional guidance possible from your real estate and mortgage professionals. Liam Spencer, Spencer Group Realty (Spencer Group Realty) Thu, 25 Jul 2013 08:04:23 -0700 https://activerain.com/blogsview/3797226/should-we-be-worried-about-the-next-real-estate-bubble-