Boise Meridian Eagle Idaho Real Estate - Homes Sales and Boise Investment Properties

Michael Hon, CEO, The Iron Eagle Realty Team Assoc. Broker, Silvercreek RG The Iron Eagle Realty Team is a Full Service Real Estate Company. Our mission is to assist our clients in the successful acquisition and sale of their personal homes and/or investment properties in the Boise Idaho Real Estate Market. We have successfully helped our clients with short sales, investment properties and foreclosed / bank owned properties in the Boise Idaho Real Estate Market.

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Sunday, March 01, 2015

Fewer homes for sale pushes up US house prices in December

U.S. home prices rose in December at a faster pace than the previous month, likely because of a much smaller number of homes for sale.

The Standard & Poor's/Case-Shiller 20-city home price index, released Tuesday, increased 4.5 percent in December compared with 12 months earlier. That is up from 4.3 percent in November and the same as October's annual increase. The small gain comes after price increases had slowed for 12 straight months.

Americans are listing fewer homes for sale, pushing up prices and keeping many houses out of reach for would-be buyers. Home prices are rising faster than most Americans' wages, slowing sales even as hiring strengthens, consumer confidence grows and mortgages stay low.

Still, the smaller price gains are more sustainable and less harmful for potential buyers than last year's double-digit increases.

The Case-Shiller index covers roughly half of U.S. homes. The index measures prices compared with those in January 2000 and creates a three-month moving average. The December figures are the latest available.

The number of homes for sale in December was equal to just 4.4 months of sales, the lowest level in nearly two years. Six months of supply is typical for a healthy housing market.

"The housing recovery is faltering," said David Blitzer, chairman of the S&P's index committee. "While prices and sales of existing homes are close to normal, construction and new home sales remain weak."

All 20 cities reported higher prices than a year earlier. The biggest gains were in San Francisco, where prices rose 9.3 percent, and Miami, where they jumped 8.4 percent. Chicago reported the smallest gain, at 1.3 percent.

December's price rise is far ahead of wage gains. Average hourly wages rose at a faster pace in January compared with the previous month, but were just 2.2 percent higher than a year ago. Pay gains have been stuck largely at that level for most of the five years since the recession.

Sales of existing homes fell last year after two years of steady recovery. That has led many economists to forecast a rebound in sales in 2015, but so far there are few signs of it.

In January, existing home sales tumbled 4.9 percent to a seasonally adjusted annual rate of 4.82 million, the slowest pace in nine months, the National Association of Realtors said Monday.

And the construction of new homes fell 2 percent in January, the Commerce Department said last week.

Lower mortgage rates and strong job growth may yet spur more sales later this year. The average 30-year fixed mortgage rate was 3.76 percent last week, according to the mortgage giant Freddie Mac. That has ticked up in recent weeks, but is far below the 4.33 percent average from a year ago.

Employers have ramped up hiring, encouraged by strong growth last spring and summer. The U.S. economy added more than 1 million jobs from November through January, the fastest three-month pace in 17 years. More Americans earning paychecks should eventually push home sales higher.

By CHRISTOPHER S. RUGABER, Associated Press

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

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Regards, Michael Hon, REALTOR®CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
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Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

Sunday, February 08, 2015

With Tax Law Changes, Foreign Investment Could Take Off

With Tax Law Changes, Foreign Investment Could Take Off
Changes to FIRPTA could open up the floodgates for cross-border capital

By Les Shaver, www.multifamilyexecutive.com

The American apartment market has seen a dramatic rise in the influx of foreign capital over the past decade. But the panelists on the “Across the Universe - Where Is the Capital Coming From?” panel at National Multifamily Housing Council’s Apartment Strategies Conference expect an even bigger infusion if policymakers address tax law.

The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), which imposes income tax on foreign persons disposing of United States real estate, basically penalizes foreign investors for spending money in the United States.

If there is a change in that law, David Schwartz, CEO of Waterton Associates, thinks international capital flows could dramatically increase.

“If FIRPTA goes away, I think it opens the floodgates of capital even if you're just planting seeds today [of investment with potential foreign investors],” he said. “If there's no FIRPTA in two to three years. that money could be coming here.”

Land of Opportunity
The opportunity with foreign investors is real because of volatility in many other areas of the world, according to Schwartz. “The U.S is a safe haven,” he said. But just because foreign investors are interested in investing in American multifamily doesn’t mean they don’t hold some reservations. Clyde Holland, chairman and CEO, Holland Partner Group, claimed that reporting and communication can help assuage these fears.

Holland said that most of the foreign investors he has worked with prefer longer hold times so it’s important to develop a long-term strategic plan.

To help these investors gain a comfort level, Schwartz claimed it’s important to visit with them and educate them on their turf. “You need a much larger educational component to familiarize investors,” he said.

That education is important because, in some cases, the apartments that investors will be putting their money into can vary greatly from the multifamily they’re accustomed to in their home countries. For instance, in Canada rental apartments are often older concrete structures from the 60’s and 70’s.

“In Canada, the for-rent market is different,” said Janice Lin, director of the Canada Pension Plan Investment Board. “Class A here [in the U.S.] is condo there.”

But, on the flipside, if a country has a vibrant apartment market, it can make the sales job easier. “The Chinese really want to come to the U.S.,” Schwartz says. “They love it. They are really familiar with the concept of apartment housing.”

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Friday, January 16, 2015

What Slowdown? Rent Growth Accelerated in 2014

What Slowdown? Rent Growth Accelerated in 2014
Rents grew a healthy 4.7 percent last year, the highest level since 2011, according to MPF Research.
By: Les Shaver, Multifamily Executive

Apparently fears of the apartment market slowing were overblown, according to a recent report from RealPage's MPF Research.

Rent growth accelerated to 4.7 percent in 2014, the highest figure since 2011. Usually the pace of rent growth slows after the first couple of years of a cycle, but this upturn is behaving differently, driven by strong job growth in higher-paying jobs in 2014.

“The overall economic performance was stronger than typical at this stage of the recovery,” said MPF Research vice president Greg Willett. “Job production went up 20 to 25 percent over the previous three or four years. In past years, 60 percent of those jobs were in low-paying industries. In 2014, 60 percent of those jobs were in higher paying industries.”

One surprising driver of growth was the fourth quarter, when things usually slow. Rents actually rose 0.6 percent during the last quarter of 2014, which was only the second time in the last decade rents rose so much at the tail-end of the year (the other time was 2005).

“The overall economic performance was stronger,” Willett says. “And, certainly if you compare it to last year, the weather was really cooperative, as well.”

Absorbing the Supply
The industry’s strong performance in 2014 came despite a 14-year high of 246,579 new completions in the nation’s 100 largest metros. But with demand at 268,532 units, the supply/demand equation was still in favor of landlords, as occupancy climbed 30 basis points to 95.3 percent.

Supply should increase this year as well. During 2015, 290,145 new units are expected to be delivered, which will put more pressure on apartment owners. But MPF expects actual deliveries to be less than that because of construction delays due to labor shortages in many markets. As such, the research firm forecasts 2015 new supply to be around 250,000 to 260,000 units, which will be on par with 2014’s tally.

MPF expects the market to be able to absorb those 250,000 to 260,000 new units. Overall, MPF expects rent growth of 3.5 to 4 percent for the year ahead. But the growth won’t be even.

“I do think we are in late innings for the urban core/really expensive apartments,” Willett says. “There just aren’t that many households out there who can afford that. Those units tend to be built for Millennials, but honestly they’re too expensive for them.”

But in other spots, outside of the urban core, 2015 looks a lot better.

“We still have a lot of runway for suburban or even urban fringe, where you’re just coming down from that 'Main and Main' price point by 10 or 20 percent,” Willett says. “The middle market is still going strong. The concern about the middle market was affordability. But if wage growth is getting better, maybe that’s not as big a problem as we thought it should be.”

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Thursday, January 01, 2015

Will 2015 Be Better Or Worse For Real Estate?

Will 2015 Be Better Or Worse For Real Estate?

Forbes.com

Whether you’re looking to sell your home or spent the last year waffling between renting or buying, you probably have one question as we head into the new year: Will 2015 be better — or are we headed into another year of the same?

There’s no such thing as a real estate crystal ball, and anyone who claims to have all the answers probably has a hidden agenda. With many factors to consider, let’s take a closer look.

The recovery process — where are we?

Trulia’s Chief Economist Jed Kolko recently came to the conclusion that while none of the five measurements in Trulia's TRLA -0.64% Housing Barometer are completely back to normal, most are making progress. It’s been three years since prices bottomed out in 2011, and we are still very much in recovery mode with rebound effects slowing; housing prices are no longer significantly undervalued and the investor market is drying up.

As a former broker, I have to agree — the investor well is indeed dry. In the past week alone I’ve received calls from three investor groups inquiring about off-market deals in the Seattle metro area. They complained that rising prices have impacted the number of available opportunities and so they’re looking for additional sources. (Sorry! No deals here.)

The good news is that most of us think things are about to get better. Regardless of the slowing rebound effects, there is optimism in the air. According to the Trulia study, consumers think 2015 will be an improvement over 2014 for all real estate activities, especially for sellers.

The millennial factor

Undoubtedly, the purchasing power of the millennial demographic packs a serious punch. And it seems that home ownership still plays a key role in the American dream, especially among young adults — an overwhelming 93 percent of young adult renters responded yes when asked if they will be purchasing a home someday.

However, while millennials are willing to purchase a home, they are encountering barriers to executing on their dream. Hurdles such as saving a down payment, qualifying for a mortgage, and cleaning up derogatory credit items are fairly straightforward, but what about market affordability?

Making tough choices

“The number of homes for sale in my market within my price range is discouragingly low,” says Elizabeth Archer of Ukiah, CA. “I am really tired of renting, but I love the area and I’m not willing to look elsewhere. I’m crossing my fingers that some affordable houses will be for sale this spring.”

Archer is experiencing a widespread affordability issue termed the “millennial mismatch.” Millennials can afford markets where they don’t live, but they can’t afford many of the markets where they do live. They find themselves faced with a tough choice: rent for the long term or live in a less-desirable city.

From over 100 major metro cities, there were only two notable exceptions where millennials currently live and also can buy: Oklahoma City, OK, and Baton Rouge, LA. These cities have a high population of millennials and better-than-average affordability.

The bottom line

Although consumers are feeling hopeful, young people are having trouble finding jobs and affordable housing in areas they want to live in. Further hampered by weak construction growth, the housing recovery needs to play nice with the overall economic recovery to make an impactful difference.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Tuesday, December 23, 2014

November (Apartment) Sales are Slow, But Cap Rates Still Fall

November Sales are Slow, But Cap Rates Still Fall
So far this year, apartment transactions have totaled $96.9 billion.
By: Les Shaver, MultiFamily Executive

As the year winds down and investors gear up for 2015, apartment sales slowed in November.

Apartment transactions totaled $8.7 billion in the month, which was a 14 percent year-over-year decline, according to New York based Real Capital Analytics (RCA). The sale of garden communities fell 5 percent and mid- and high-rise sales dropped 27 percent.
Though the pace of sales slowed, cap rates continued to compress in November, dropping 10 basis points to 5.8 percent nationally. In the third quarter, cap rates hit record lows.

For 2014, the apartment sector has accounted for $96.9 billion, which is up 7 percent from last year.

“The sector is well on track to beat the $102.5 billion of volume recorded in 2013, and may top the all-time high of $105.2 billion recorded in 2007 but much of it depends on activity in December,” RCA said in the report.

Cap Rate Compression Since 2010

The deals closed in December to date, and the pipeline of end-of-year deals, has been modest, RCA reports. But a slowdown in the last two months of the year may actually be a sign of a strong market, unlike the spike in volumes seen earlier in the recovery

“We typically see a push to get deals out the door early in the fourth quarter in an effort to get them done before the end of the year,” says Joshua Goldfarb, managing partner of Atlanta-based Multi Housing Advisors. “In the holiday period, you see less new offerings and a lot of closings. In 2010 and 2011, we saw tremendous volume in the fourth quarter, but that was banks who wanted to get toxic assets off of their balance sheets by the end of year."

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Saturday, December 06, 2014

Overvaluation Feared as Cap Rates Keep Shrinking

Overvaluation Feared as Cap Rates Keep Shrinking
Many industry vets wonder if today's investment market is getting a little too overheated.
By: Les Shaver, Multifamily Executive

How low can they go?

From 2005 through 2006, apartment cap rates hit a floor of 6.2 percent multiple times, before spiking back up to 7.2 percent after the credit crisis of late 2008, according to Real Capital Analytics (RCA).

But cap rates found a new bottom this year. In the third quarter of 2014, they fell to 5.9 percent, an all-time low, according to RCA. While there may not be a cataclysmic event like the 2008 financial crisis on the horizon, some apartment investors and owners are beginning to wonder if some buyers may be getting too aggressive.

While he still sees strong fundamentals, David Schwartz, CEO of Chicago-based Wateron Associates, is concerned some investors may be too reliant on interest rates staying low.

“It’s a great time to lock 10-year money today,” he says. “A lot of people are floating everything. That is generating good yields but it has risk.”

Matt Lester, the founder and CEO of Bloomfield Hills, Mich.-based Princeton Enterprises, thinks buyers who overpaid in the top markets may ultimately have a shorter lifespan because of overly optimistic rent growth predictions.

“There have been deals that got done, where any blip in performance or any unforeseen hurdle, could cause their acquisition or venture to tank,” he says. “I think we’re past the peak in cap rate compression.”

Not everyone has such dire predictions, but they’re prepared if multifamily has passed its peak in the cycle, which is now five years into recovery.

“If I’m paying the same cap rate in the fourth inning of a recovery as I am in the seventh inning, I don’t feel as comfortable,” says Bobby Lee, president and COO of Los Angeles-based JRK Property Holdings. “You have little bit less of runway. Pricing may have been the same as year ago, but know you have one less year of this outsized growth."

If buyers don’t realize that, Lee thinks they could be in trouble.

“To me the fundamentals of multifamily won’t kill multifamily,” Lee says. “Unless there is massive overbuilding in a market, what can kill multifamily is if you buy too expensively and overleverage. The price and value of what you pay for today is probably your single biggest risk on a micro basis.”

Sunny Days Ahead?

While even observers like Schwartz might have questions about certain deals, there are a couple of notable differences in today’s market versus the mid 2000’s.

Positive leverage on deals (with cap rates trending higher than interest rates) and strong demand (the last cycle saw high moveouts to home ownership) gives the apartment business a boost it didn’t have last time.

“I still think the fundamentals are terrific and the stars are aligned from the standpoint of capital,” says Mark Alfieri, CEO of Plano, Texas-based Monogram Residential Trust. “I don’t see anything in multifamily sector from a supply or demand standpoint that has me concerned right now.”

When judging cap rates, observers usually look to the risk premium, or the spread between cap rates and the 10-year Treasury. And right now, things are solid on that front.

“The spreads between rates and treasuries are still pretty wide and the outlook for NOI is pretty good right now,” says Ben Thypin, director of market analysis at RCA.

Brian E. McAuliffe, senior managing director for Los Angeles-based CBRE Group, is maybe even more bullish. While oversupply, a spike in treasuries, or a political event could push up cap rates, he points to demographics (Millennials moving into higher paying jobs), positive job growth, and a sluggish single-family markets as factors that could continue pushing cap rates down.

“There has been a lot of discussion about whether we we’re in the seventh inning or eighth inning of the recovery,” he says, going back to the baseball analogy. “Given where performance was on the supply side, there is a significant amount of experts who think we’re in the fourth and fifth inning of multifamily performance.”

Multifamily Executive
Boise Idaho Investment Properties

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Monday, November 17, 2014

Kennedy Wilson Acquires 324-Unit Apartment Community in Boise

Kennedy Wilson Acquires 324-Unit Apartment Community in Boise

YTD acquisitions for Company and its equity partners exceed $3 billion as global multifamily portfolio tops 20,000 units

BEVERLY HILLS, Calif., Nov 13, 2014 (BUSINESS WIRE) -- Global real estate investment and services firm Kennedy Wilson (NYSE: KW) today announced that the Company purchased Reflections at River’s Edge, a 324-unit apartment community located in Boise, Idaho for $29.75 million investing $15.3 million of equity in the transaction (including closing costs). The Company also assumed debt of $15.2 million through Fannie Mae at a fixed rate of 5.3% with 5-years of interest only remaining.

“We are extremely excited to begin our presence in the Boise market with the acquisition of Reflections at River’s Edge,” said Kurt Zech, President of Kennedy Wilson Multifamily. “Boise is a strong, stable market with unemployment well below the national average. Employment and population growth has been very strong and have outpaced the national growth rate over the past decade.”

Reflections is located in the West End neighborhood of Boise. The property sits on a picturesque lake and is located 1.5 miles from downtown Boise. The adjacent greenbelt bike path provides tenants with easy access to Downtown and Boise State University. Immediately north of Reflections, a large parcel will soon be developed into a multi-use regional park. The Esther Simplot Park is a 55-acre property that includes 17 acres of ponds and will include fishing ponds, picnic areas, green spaces, public amphitheater and a whitewater park.

Kennedy Wilson’s global multifamily portfolio now totals 20,007 units. Real estate related acquisitions by the company and its equity partners year-to-date total more than $3.0 billion, which includes approximately $2.3 billion acquired by Kennedy Wilson Europe Real Estate plc.

About Kennedy Wilson

Founded in 1977, Kennedy Wilson is a vertically integrated global real estate investment and services company headquartered in Beverly Hills, CA, with 25 offices in the U.S., U.K., Ireland, Spain, Jersey and Japan. The company, on its own or with partners, invests opportunistically in a variety of real estate related investments, including commercial, multifamily, loan purchases and originations, residential, and hotels. Kennedy Wilson offers a comprehensive array of real estate services including investment management, property services, auction, conventional sales, brokerage and research. For further information on Kennedy Wilson, please visit www.kennedywilson.com.

SOURCE: Kennedy Wilson

Kennedy Wilson
Christina Cha, 310-887-6217
VP of Corporate Communication
ir@kennedywilson.com
www.kennedywilson.com

Copyright Business Wire 2014

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Friday, September 26, 2014

Home Selling Tips Every Seller Should Know

Home Selling Tips Every Seller Should Know

Price Your Home Realistically From the Start

94.3 percent of agents say this is a very important tip

0.0 percent of agents don’t recommend this tip

The largest number of showings will occur in the first couple of weeks, so don’t turn these potential buyers off with an unrealistically high price!

Keep Your House Clean, Tidy and De-cluttered

91.4 percent of agents say this is a very important tip

0.4 percent of agents don’t recommend this tip

It pays to keep your home in excellent shape at all times. You never know when a buyer might walk through the front door!

Work With an Agent Who Excels at Online Marketing

90.7 percent of agents say this is a very important tip

0.6 percent of agents don’t recommend this tip

Work with an agent who will do a good job marketing your home online. Your agent should take at least 6 listing photos and write a compelling listing description for your home.

Make It Easy to Show Your Home

90.3 percent of agents say this is a very important tip

0.4 percent of agents don’t recommend this tip

Make it as easy as possible for agents to show your home to clients. Don’t require appointments to be made weeks in advance or severely limit possible showing times.

Don’t Sign With an Unqualified Buyer

87.8 percent of agents say this is a very important tip

0.6 percent of agents don’t recommend this tip

Don’t sign a purchase agreement with an unqualified buyer. It’s not unreasonable to expect buyers to bring pre-approval letters (or proof of funds for cash purchases) to show they can buy your home.

Listen to Your Agent!

83.9 percent of agents say this is a very important tip

0.8 percent of agents don’t recommend this tip

Listen to your real estate agent! Find an agent you can trust and follow their advice and recommendations as closely as you can.

Make Small Upgrades to Your Home

83.6 percent of agents say this is a very important tip

0.2 percent of agents don’t recommend this tip

Make small upgrades to help your home sell for top dollar. These upgrades can include applying a fresh coat of paint, replacing door handles, curtains and cabinet hardware, fixing leaky faucets and cleaning the grout.

Work With an Agent Who Follows the Competition

82.4 percent of agents say this is a very important tip

1.4 percent of agents don’t recommend this tip

Work with an agent that will closely follow your competition. Your agent must be familiar with other properties on the market and know the comps in your neighborhood.

Stage Your Home’s Exterior

76.0 percent of agents say this is a very important tip

0.0 percent of agents don’t recommend this tip

Stage the exterior of your home: Spruce up the landscaping, trim vegetation, clean walkways of debris and apply fresh coats of paint to the house, fence and deck.

Don’t Insist on the Asking Price

72.0 percent of agents say this is a very important tip

3.0 percent of agents don’t recommend this tip

Don’t insist on selling your house for your asking price, its appraised value, the tax assessor’s estimate, or what you paid for it – your house is ultimately worth what the buyer is willing to pay for it!

Alert Family and Friends

67.7 percent of agents say this is a very important tip

0.6 percent of agents don’t recommend this tip

Alert your friends, relatives and neighbors that your home is on the market via email and social media. They may forward your home’s listing to buyers they know.

Make Your Home Move-In Ready

66.6 percent of agents say this is a very important tip

0.9 percent of agents don’t recommend this tip

Make your home move-in ready before it hits the market, so buyers know they won’t have a to-do list if they buy it.

Brighten Up Your Home

64.8 percent of agents say this is a very important tip

1.0 percent of agents don’t recommend this tip

Maximize the amount of light in your home. Take down drapes, clean windows and cut bushes to let sunshine in.

Clear Out Your Closets

63.1 percent of agents say this is a very important tip

1.0 percent of agents don’t recommend this tip

Because storage space is an important consideration for buyers, take half of the stuff out of your closets and neatly organize the rest.

Don’t Take the First Offer

59.4 percent of agents say this is a very important tip

3.4 percent of agents don’t recommend this tip

Don’t get over-excited when you get an offer! Examine each offer carefully and take your time deciding if you want to accept it.

De-Personalize Your Home

57.9 percent of agents say this is a very important tip

2.6 percent of agents don’t recommend this tip

Personal items make it harder for buyers to imagine themselves living in your home. Put family photos, trophies, memorabilia and other personal keepsakes in storage.

Don’t Over-Upgrade

56.6 percent of agents say this is a very important tip

1.7 percent of agents don’t recommend this tip

You probably won’t get your money back if you do a huge improvement project just before you put your house on the market.

Conceal Your Pets

52.8 percent of agents say this is a very important tip

5.5 percent of agents don’t recommend this tip

Pets give the impression your house isn’t clean, so hide them, their litter boxes, food dishes and toys during showings.

Don’t Work With the First Agent You Find

51.8 percent of agents say this is a very important tip

5.9 percent of agents don’t recommend this tip

Interview multiple agents before choosing one to work with. Select your agent based on their marketing plan, experience, work ethic and communication skills.

Hire a Professional Listing Photographer

37.1 percent of agents say this is a very important tip

16.4 percent of agents don’t recommend this tip

Hire a professional photographer to take pictures of your home if your agent doesn’t do so. Professional listing photos only cost $100-300 and can increase your home’s sale price by up to $19,000.

Throw Buyers a Bone to Close Escrow Quickly

29.5 percent of agents say this is a very important tip

10.8 percent of agents don’t recommend this tip

If you want a speedy and hassle-free escrow, throw your buyer a bone (like an early closing or a one-year home warranty) if they ask for one. You want to be in their good graces during escrow and after the sale.

Offer Up Extras to the Buyers

17.0 percent of agents say this is a very important tip

14.7 percent of agents don’t recommend this tip

Offer to leave behind items as extras, like high-end appliances and electronics, or if you live on a golf course, your golf cart.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Monday, April 28, 2014

Want to Sell Your House? Price it Right!

by The KCM Crew on April 14, 2014 in For Sellers

The housing market is recovering nicely. Prices have increased nationally by double digits over the last twelve months. Competition from the shadow inventory of lower priced distressed properties (foreclosures and short sales) is diminishing rapidly. Now may be the perfect time to sell your home and move to the dream house or beautiful location your family has always talked about.

The one suggestion we would definitely offer: DON’T OVERPRICE IT!!

Even though prices have increased by more than 10% over the last year, the acceleration of appreciation has slowed dramatically over the last few months. As an example, in their April Home Price Index Report, CoreLogic revealed that home prices actually depreciated by .08% this month as compared to last month’s report. What concerns us is that Trulia just reported that asking prices are still continuing to increase.

Because investor purchases are declining and there are more listings coming onto the market, we believe that sellers should be very cautious when they price their house. The alternative might be that you could lose money by overpricing your home at the start as explained in a research study on the matter.

Bottom Line

Though it is a great time to sell your house, pricing it right is crucial. Get guidance from a real estate professional in your marketplace to ensure you get the best deal possible.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Wednesday, March 27, 2013

New Listing in Two Rivers - Bonus Room, Theater Room, Office and MORE!!!

Located in the Coveted Two Rivers Subdivision in Eagle Idaho. Your private sanctuary with master bedroom & bath, office, sitting room, formal dining room & family room all on the main level. Granite counters in the kitchen & master bathroom. Stainless steel appliances. Entertain your friends, family & neighbors in your bonus room & separate theater room. A built in stone fireplace in your private & secluded backyard will give you hours of warmth on those chilly nights. BTVA

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Thursday, February 14, 2013

BOISE AMONG WORST PLACES TO BUY A FORECLOSED HOME

Here's great article from the Idaho Business Review by Brad Iverson-Long
Published: February 5,2013

The Boise metro area is one of the worst places to buy a foreclosed home, according to national real estate data company RealtyTrac.

The data company based its finding on measures including the supply of foreclosed homes and the average savings of foreclosures. Local real estate agents say that distinction is a sign that the market is improving, though there are still good deals to be found.

“If we’re the worst foreclosure spot, then we should be rated as the best place and on the rise,” said Craig Zuber, president of Zuber Group Real Estate.

Zuber said the Boise market improved in 2012, with traditional home sales now making up most of the market, rather than foreclosures and distressed sales. That’s also leading to more construction of new homes in the area.

“If you’re in a distressed market, you don’t see sticks in the air,” Zuber said of the new construction apparent in the Treasure Valley. “We do.”

RealtyTrac’s 2012 metro foreclosure report said foreclosures make up nearly one in every six home sales. Foreclosure activity in the Boise area in 2012 was down 28 percent from 2011 and down 55 percent from 2010. Foreclosures were up in a majority of the top 212 metro areas in the nation. Boise was seventh on RealtyTrac’s list of worst places to buy a foreclosure, behind Salt Lake City; Las Vegas; Ogden, Utah; and cities in Arkansas and Texas.

Boise ranked just 40th on foreclosure activity for all of 2012, based on the percentage of housing units with a foreclosure filing. For December, Canyon and Ada counties led the state in foreclosure activity, both in total number of foreclosures and as a ratio of foreclosures to total housing units.

Florida had eight metro areas in the top 20 nationally in foreclosure rates and places six cities among the 20 best places to buy a foreclosed home.

While the supply and discount of foreclosures may be low, Tim Bassett with West USA Realty in Garden City said foreclosures can still be good for homebuyers.

“A foreclosure property is still your best value, next to a short sale,” he said, though he acknowledged that there aren’t many to buy in the area right now. Bassett said the availability of foreclosure kept prices for conventional homes down, but now home prices are on the rise.

The low supply isn’t unique to foreclosed homes. The Ada County Association of Realtors reports that the inventory of all homes in its market area is at a 12-year low.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Wednesday, January 23, 2013

Avoiding the Dirty Dozen Barriers to Short Sale Success

Here's great blog post on KCM by BRANDON BRITTINGHAM

Short sales often take three times longer than a traditional transaction and sometimes never close at all. By hiring an agent who knows to avoid these twelve barriers, the process can be less stressful.

1.) Poor short sale candidate

Establish objective criteria
Conduct an extensive interview with homeowner
Ascertain seller is motivated and cooperative
2.) Agent lacks familiarity with the lender’s requirements and procedures to complete the short sale

Harvest and maintain lender and investor guidelines
Secure individual forms required for each lender/servicer
3.) Title exam not obtained in the beginning

Identifies individuals on deed and mortgages
Determines all lien holders
4.) Incomplete package submitted to the lender/servicer

Focus on the quality of the package at time of submission
Detail orientation is critical
All docs completely executed
Complete package allows process to flow faster
5.) Short sale not begun prior to receiving a contract to purchase

Adds 30 to 60 additional days
Lender never looks at buyer contract until seller candidate is approved and market value has been determined
6.) Complete package not maintained throughout the short sale process

Must keep all required homeowner financial information current and forwarded to the servicer every 30 days
7.) Lack of communication with the lender

Most negotiators overwhelmed by the number of individual cases they are working on
Misunderstandings, loss of documents, and/or lack of familiarity with files are very common
Agent must continue to follow-up with the servicer twice a week to reduce unnecessary delays
8.) Poor record keeping /documentation by agent

High probability of changes in processing personnel
New person often lacks familiarity with case.
Has to rely on the quality of notes in the file
Information is often lost or missing
Agent’s role is to help fill in the gaps
9.) Professional relationship with the negotiator never established

Stressful environment
Lots of frustration
Lack of respect and trust are common
Begins with building rapport
Can be a big game changer
10.) Failure to meet BPO/Appraiser at the listing

Without a detailed inspection of the property inside and outside the value will be distorted
Meeting BPO at property provides great opportunity to share information that might not otherwise be discovered
11.) Fair market value dispute

Common in most markets
Negotiators lack current relevant information on most markets
Forced to make decisions based on the data provided by BPO and information in the lender package
Agent must be willing to provide additional current, detailed, relevant information (ie. local market, economy, demographics, and property condition) that can have an effect on value.

12.) Failure to “escalate” to higher authority when communication breaks down

Escalation is part of the short sale process
Escalating to a supervisor can be the key to moving forward
Upper levels of every lender’s short sale department are working toward one goal– avoiding another foreclosure
Avoiding these dozen pitfalls will increase your odds of success while reducing everyone’s time and stress.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Tuesday, October 02, 2012

Merry X-Mas – BofA Just Wiped Out Your 2nd Lien

Wednesday, September 19, 2012

Why you shouldn’t pay down your mortgage faster

by The Associated Press
Published: September 17,2012
Time posted: 4:28 pm

The impulse to pay off your mortgage more quickly than you need to is understandable, especially these days.

Interest rates are near historic lows, so it’s possible to replace a 30-year mortgage with a 15-year loan and still afford the monthly payments. Or, if you’ve already refinanced at a dirt-cheap rate, you can take those savings and pay down your principal faster.

But the allure is more emotional than financial. Mortgage debt provides great financial flexibility, and paying it down fast probably isn’t the best way to grow your nest egg.

“Generally speaking, there’s no advantage to paying down a mortgage earlier than you need to,” says Greg McBride, senior financial analyst at Bankrate.com

That’s because the interest on mortgages is low, it helps lower your taxes, and paying less every month gives you chance to reinvest the savings in more productive ways. Among the better options: paying down higher-interest credit cards, or saving for retirement.

Start with rates on 30-year mortgages. The average rate is 3.66 percent, close to the lowest level since the 1950s.

But in reality you pay an even lower rate when factoring in tax breaks. The federal government gives borrowers a break by allowing them to deduct mortgage interest from their income. And if instead of using the extra cash to pay down your mortgage you put it in a tax-advantaged retirement fund like a 401(k), your taxes are reduced even further.

Jim Sharvin, a certified public accountant with the firm McDowell Dillon & Hunter in Torrance, Calif. says if you are thinking of paying down the principal of a mortgage more quickly than necessary — either by switching to a shorter-term loan or sending extra principal payments to the bank — consider first doing the following:

* Pay down all high-interest debt, like a credit card. It’s the first priority because it’s very expensive debt, and it has no tax or other financial benefit.

* Build a cash cushion to cover unexpected expenses or loss of income.

* Bolster your retirement savings by putting the maximum amount allowed by law into a tax-sheltered plan such as a 401(k), a 403(b), or IRA. This also reduces your taxes.

* Fund a college savings program such as a 529 plan for your children, especially if you live in a state with an income tax. These programs shelter the money from state and local income taxes.

Once these priorities are taken care of, the next step is a matter of preference.

You could take the money you borrowed at 3 percent and try to reinvest it in a way that earns more than that. If you have time to ride out ups and downs of the market, 3 percent should be relatively easy to beat.

Or you could pay down your mortgage quickly. If you are just going to park your money in money market funds or certificates of deposit that yield less than 3 percent, it makes sense to pay down that mortgage debt. And it sure would be nice to have no mortgage when you retire.

There are other situations where it’s smart to pay down a mortgage early.

The first scenario is when you’re trying to eliminate the cost of private mortgage insurance, or PMI. That’s the insurance you must carry if you put down less than 20 percent on your home. It makes sense to speed up payments on your principal until you’re allowed to drop the insurance.

It’s also good to pay down your mortgage if you don’t have the discipline to reinvest extra money wisely. Handing the money to your mortgage company is one way to protect you from yourself.

Even if paying down a mortgage fast is the best choice, there are smarter ways than opting for a 15-year loan. That’s because the shorter term locks you into a higher payment, and that can become a burden if money gets tight.

A 30-year loan gives you options. If find yourself with extra money, then pay down the principal as aggressively as you like. But if you’re short, scale back to the regular monthly amount. That flexibility is probably worth the slightly higher interest rate on the 30-year loan these days, Sharvin says.

To compare a 15- and 30-year mortgage, consider this example: One homeowner with a $200,000 loan chooses a 3.75 percent 30-year mortgage, which costs $926 per month. Another chooses a 3 percent, 15-year mortgage, which costs $1,381 per month.

The homeowner with the 30-year loan ends each year with $5,460 in savings from lower payments and a tax break of about $770. He puts all that money into a 401(k), saving himself an additional $1,560 in taxes. That’s a total annual savings of about $7,800. If he earns a 5 percent return over 15 years, the homeowner will have accrued $170,000.

The homeowner with the 15-year loan will have no extra savings after 15 years. But then his mortgage payments will end. He’ll try to catch up, but he’s starting from so far behind that by the time 30 years are up – and both loans are paid off – the homeowner with the 30-year loan will have $124,000 more in savings.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

Boise Meridian Eagle Idaho Real Estate - Homes Sales and Boise Investment Properties

Sunday, March 01, 2015

Fewer homes for sale pushes up US house prices in December

Fewer homes for sale pushes up US house prices in December

Sunday, February 08, 2015

With Tax Law Changes, Foreign Investment Could Take Off

Friday, January 16, 2015

What Slowdown? Rent Growth Accelerated in 2014

Thursday, January 01, 2015

Will 2015 Be Better Or Worse For Real Estate?

Tuesday, December 23, 2014

November (Apartment) Sales are Slow, But Cap Rates Still Fall

Saturday, December 06, 2014

Overvaluation Feared as Cap Rates Keep Shrinking

Monday, November 17, 2014

Kennedy Wilson Acquires 324-Unit Apartment Community in Boise

Friday, September 26, 2014

Home Selling Tips Every Seller Should Know

Monday, April 28, 2014

Want to Sell Your House? Price it Right!

Wednesday, March 27, 2013

New Listing in Two Rivers - Bonus Room, Theater Room, Office and MORE!!!

Thursday, February 14, 2013

BOISE AMONG WORST PLACES TO BUY A FORECLOSED HOME

Wednesday, January 23, 2013

Avoiding the Dirty Dozen Barriers to Short Sale Success

Tuesday, October 02, 2012

Merry X-Mas – BofA Just Wiped Out Your 2nd Lien

Wednesday, September 19, 2012

Why you shouldn’t pay down your mortgage faster

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