Good Preparation = Amazing Price!

This nice house is a good example of proper preparation. 3684 S Arno Ave., Meridian, ID was comfortably lived in3684 S Arno Ave_Interior_8 and was quite full. The owners de-cluttered it over a couple of months; we had my cleaning crew come in for a deep cleaning; the following day, my stager did her magic and on the 3rd day my photographer/videographer and I shot the marketing VIDEO. We then launched the VIDEO on YouTube. See for yourself how nice it turned out.

In  4 days we had 5 offers and we closed the sale in 25 days for $62,250 MORE than the asking price! The Sellers didn’t need to be away for an Open House and in less than a week no addition visitors had to be handled.

Yes, we are in a “Seller’s Market” and this property would have sold anyway. However, the owners received much more for their house than they expected and were able to relax again after the first few days of being on the market.

After watching their VIDEO, can you visualize your home being marketed in this way? Just imagine what your new housing opportunities could be.

Feel free to text, email or call me. I’ll be happy to help you directly or provide you with an outstanding agent referral if you are outside of the Treasure Valley, Idaho.

 

Is Buying a Home Today a Good Financial Move?

Is Buying a Home Today a Good Financial Move? | MyKCM

 

There’s no doubt 2020 has been a challenging year. A global pandemic coupled with an economic recession has caused heartache for many. However, it has also prompted more Americans to reconsider the meaning of “home.” This quest for a place better equipped to fulfill our needs, along with record-low mortgage rates, has skyrocketed the demand for home purchases.

This increase in demand, on top of the severe shortage of homes for sale, has also caused more bidding wars and thus has home prices appreciating rather dramatically. Some, therefore, have become cautious about buying a home right now.

The truth of the matter is, even though homes have appreciated by a whopping 6.7% over the last twelve months, the cost to buy a home has actually dropped. This is largely due to mortgage rates falling by a full percentage point.

Let’s take a look at the monthly mortgage payment on a $300,000 house one year ago, and then compare it with that same home today, after it has appreciated by 6.7% to $320,100:Is Buying a Home Today a Good Financial Move? | MyKCMCompared to this time last year, you’ll actually save $87 dollars a month by purchasing that home today, which equates to over one thousand dollars a year.

But isn’t the economy still in a recession?

Yes, it is. That, however, may make it the perfect time to buy your first home or move up to a larger one. Tom Gil, a Harvard trained negotiator and real estate investor, recently explained:

“When volatile assets are facing recessions, hard assets, such as gold and real estate, thrive. Historically speaking, residential real estate has done better compared to other markets during and after recessions.”

That thought is substantiated by the fact that homeowners have 40 times the net worth of renters. Odeta Kushi, Deputy Chief Economist for First American Financial Corporation, recently said:

“Despite the risk of volatility in the housing market, numerous studies have demonstrated that homeownership leads to greater wealth accumulation when compared with renting. Renters don’t capture the wealth generated by house price appreciation, nor do they benefit from the equity gains generated by monthly mortgage payments, which become a form of forced savings for homeowners.”

Bottom Line

With home prices still increasing and mortgage rates perhaps poised to begin rising as well, buying your first home, or moving up to a home that better fits your current needs, likely makes a ton of sense.

Is it Cheaper to Build a Home or Buy One?

This week we will be talking about, “is it cheaper to build a home or buy one”? So stay tuned, and we’ll get right to it.

Hey guys! Randy here with NextHome Treasure Valley. I’m a Realtor® in the Mountain Home and Boise Idaho area. About a month ago, a friend of mine that I’ve been working with asked me if it is cheaper to build a new home or buy one. He had a company that he had been looking at online, and he asked me my opinion on it. I was honest and told him that I’ve never dealt with a new-build so let’s find out. So, we set up a consultation with an unnamed company here in the Boise area. They were pretty informative. The gentleman that we met with was going over some stuff with us and answering questions. Then I also researched it, so hopefully, we can answer some of that for you.

With new-builds, there are some plusses, and there are some minuses. So, with new builds, the house is going to be brand-new. More than likely, you’re not going to have a lot of repairs to do. You get to do the cool stuff like picking the cabinets, choosing the colors. Sometimes the builders are going to offer incentives. So, they might throw in appliances, or they might pay individual costs. But, usually, it does cost a little bit more. And the one thing that stood out from our meeting is, we were asking about the land and recommend land for us to look at? They said no, you would actually want to find land on your own, and then we can tell you if that land will work for us or not. You might have to get building permits in your area. So you want to do your due diligence on that. There was the cost of the building of that house, there was the land cost, and then there was a third cost of development costs. He said that that is standard for all the homes they build. You have to do the development part and pay for the house. So the attraction for when my friend was looking at the houses online was this price tag that they were showing, but you’re not seeing the full picture. You’re only seeing the outer shell if you will. So that’s something to keep in mind when you’re doing a new-build, and it can take up to 6 to 8 months before you get into the house.

Sometimes quicker, of course, and sometimes might even take longer. But the average is about six to eight months from what I am researching. Also, if you are a yard person, this may go one way or the other. Often, the yards are a blank canvas, so if you’re someone who likes to get out there and create for yourself, that might be what you’re looking for. You might want to see a bunch of dirt when you open the door so you can lay sod, you can plant seeds, or you can do whatever you wish to—trees, flowers, what have you. But to many people, they don’t want to deal with that part. So it’s all going to be about you and your perspective. Do you want to go out there and deal with that, or do you want to put in Astroturf? Whatever it is that you’re looking to do.

So now we talk about already lived in homes. They probably cost a little less, but there’s a good chance that you’re going to have to do repairs on those homes. Sometimes that’s okay. One of the clients I worked with in the past wanted a home that they could work on instead of a more modern home but had a little bit less square footage. They wanted the house to have square footage that they could work on. They were looking forward to doing the work. Many times, people watch Property Brothers and Fixer Upper and want to go out and do some of that work themselves. They weren’t looking to flip the home, this was their home, but the extra work didn’t bother them because that’s what they wanted. As you’re looking at older homes, even some newer ones, like within the last five years, might need some work. Usually, they are ready to move in already. New-builds often have to wait for 6 to 8 months, and you might be prepared to get in there now. So that might be a deciding factor in whether or not you want to build a house. There are also spec homes, and stuff like that. You can get in a lot quicker, but you would have to look into the details and see if it would still be like a new-build home. Often, pre-lived in homes already have appliances in them, so that might be a cost that you get to save. However, sometimes appliances are old. That same client I was telling you about had an old oven, and they had made up their minds before they moved in that the oven was being donated. It wasn’t something that they wanted to keep. So it could be a good thing or a bad thing. You might be walking into brand-new appliances that the past owners had bought, but maybe they don’t fit in the new house, and they’re not taking them. Perhaps they don’t want to bother with it. Sometimes past pets might be an issue, or someone smoked in the house before, and maybe you have allergies to either one of those. That’s something else you have to keep in mind with a pre-existing home, where a new-build more than likely you’re not going to have as much of that issue. It’s just like buying a car. If you purchase a brand new car, it’s excellent, but you pay a little bit more. It’s your car, and you’re the only one that’s been in that car. If you buy a pre-purchased vehicle, a lot of the bugs may have been worked out already.

So, just like anything, you want to see what works best for you and decide. So thank you for watching the video. If you have any questions, my contact information is below, so if you’re looking to move to the Boise area, you can get a free relocation guide go to TVGuide.RandyWRealEstate.com. Thank you so much. Have a great day, and thanks for stopping by.

5 Facts about the Bruneau Dunes State Park

Hey guys, this is Randy with NextHome Treasure Valley. I’m a Realtor® in the Mountain Home and Boise Idaho areas. This week we’re talking 5 Facts about the Bruneau Dunes State Park.

 

Fact #1 It is the tallest single-structure dune in North America. It stands at 470 feet above the surrounding desert floor. So it’s a tall dune, and I am way too lazy to climb it, but people climb it all the time. Anytime I go there, there’s always somebody up on the dune, but usually, there’s enough area that you can kind of have your own space also. So if you go and check it out with your family, don’t be worried about that. But it does attract people from all over the united states, and probably all over the world. 

 

Fact #2 There’s a whole bunch of stuff you can do there. So you can climb the dunes, of course, you can sandboard down the dunes, there’s horse riding, there’s stargazing, which will lead to another fact. You can go boating from there, fishing from there, so it’s conveniently located right by the snake river: just a cool place to spend your day, or even a weekend. There are different amenities too, and you can check this all out, but they even rent a couple of cabins out, but you can camp there, so there’s just a lot that you and your family could take advantage of and spend the weekend. 

 

Fact #3 – It is very close to Mountain Home and Boise. The Bruneau Dunes is about 17 miles south of Mountain Home and about 65 miles southeast of Boise. So it’s a short trip. I know of many people that live in Boise and don’t even know that they exist, and it’s less than 100 miles away from where they live. Something to check out if you are in the local area, but even if you’re not, it might be worth a trip just to come and do some camping there at the dunes. 

 

Fact #4I alluded to this earlier: there is an observatory there at the dunes. So in the campground, it’s open from March to October usually, this year because of COVID, there have been some changes. It was closed, and then I guess they were doing private tours, but it should open again hopefully in march, so we’ll see how things go. Hopefully, all this COVID stuff will be behind us by then, but we’ll see. 

 

Fact #5 You can rent sandboards to go down the dunes at the visitor center, for only $15 a day. I know a lot of people are taking advantage of this. Most of the people I’ve seen talk about it say that it’s a fantastic deal. But of course, because it is such a tall dune, many people get tired after a couple of trips up. So you might want to pace yourself and make sure you have enough energy in the tank to get back up the dunes there so tall. But for $15 a day, you can spread it out. Like I said earlier, all this information can be found at parksandrec.idaho.gov and also facebook.com/BruneauDunesStatePark, so definitely check it out. If you’re interested in Mountain Home, which is just 17 miles north, you can check out the five pros and cons of Mountain Home here, so thank you for reading this. Have a great day! Thank you!

 

Cost of Living in Boise, Idaho

Hey guys, Randy here. I’m a Realtor® with NextHome Treasure Valley. Today we’re talking about the cost of living in Boise, Idaho.

 

Recently I was at a party, gathering if you will. There were some people there that I met there—very nice people from Eastern Washington. We were chatting, and I told them that I’m a Realtor® in the Boise area, and the cost of living came up. I thought, well, that’d be a great video idea. There are two websites that I use. The first one is bankrate.com. You can go to this yourself. I have no affiliation with them at all. The second is bestplaces.net.

What you do is simple. You just put in where you live now. I went to Riverside, California, a few weeks ago, so we’ll use that as an example. Then you’re going to be moving to, say, Boise Idaho. Then what’s your annual income? I’m going to leave the default $50,000, but you can put whatever you want. The numbers are still going to crunch no matter what. A salary of $50,000 in Riverside California, could decrease to $36,243 in Boise, Idaho. Comparison Highlights Overall – Boise, Idaho is 22.2% cheaper than Riverside, California. The median home cost is the highest cost of living difference, and the medium home cost is 25% less expensive in Boise.

It breaks down what it’s talking about here. Riverside, California’s median home cost is $409,000 instead of Boise, Idaho, which is $303,100. Do your due diligence on these numbers. On bankrate.com’s cost of living calculator, the reason why I’m not using this as my primary example if you go to Boise City, Idaho, from say Abilene, Texas. It shows the housing cost median in Boise at $203,936, and I would say this is not the case right now. That’s why I’m leaning more towards the bestplaces.net calculator, but as I said, do your due diligence and check things out for yourself. But, these are great tools to get an idea of moving to Boise, Idaho might be the right thing for you. Like we can see we’re a little bit higher on health costs here. However, everything else seems to be lower for Boise Idaho. Including things like transportation and utilities.

I found the best way to pick a different city to calculate would be to click on the cost of living calculator, and it cleans everything out. As another example, a salary of $50,000 in White Plains, New York, could decrease to $28,932 in Boise, Idaho. The median home cost is 54% cheaper. The median home costs in White Plains, New York is $672,000 instead of Boise, Idaho at $303,000, that’s a big difference. Across the board, everything is less. That’s a larger place, and I recommend you go to bestplaces.net and use the calculator yourself. Put in where you live, don’t just take the examples that I’m giving.

I need to go over because I am a Realtor® in the Mountain Home and Boise area is the difference between Mountain Home and Boise. Mountain Home is about 30 to 40 miles from Boise. A salary of $50 000 in Boise, Idaho, could decrease to $40,534 in Mountain Home, Idaho. The median house cost is between $303,000 to $185,600. I will tell you as a Realtor® here in Mountain Home. It’s getting harder to find a house right now at $185,600 and even Boise, the $303,000 because things are moving so fast here. I think you have to realize that there might be a little bit of inflation in both places. But this is more accurate than what in my opinion than what bankrate.com is showing. You can’t even pull up Mountain Home, Idaho, on bankrate.com. It does show that utilities are a little bit higher in Mountain Home, as well as healthcare.

Anyways, if any of that interests you and you want to check out more, go to bestplaces.net. If you would like a free relocation guide to the Treasure Valley, go to tvguide.RandyWRealEstate.com. For those of you old enough to remember tv guide, I smile. I recommend checking out the moving to Idaho video and the Mountain Home pros and cons video if you are interested in moving out this way. I give you a little bit more information on those videos. Thanks a million for reading this whole blog, and we’ll see you next Friday!

I hope you have a great day.

 

Thanks!