Real estate in Idaho is hopping!
Newly Listed Homes for Sale in Boise County March 2016
The New View Real Estate Team has been busy as the spring season starts. Here is a look at three of our newly listed properties in Boise County, each with their own spectacular benefits and awesome Idaho views.
11 Acres + Fantastic Indoors and Outdoors Living Space
Wow. This single family home has a wrap around porch perfect for relaxing, entertaining, and enjoying the beauty of rural Idaho. Homes for sale in Boise County often have room, but not many come ready for your horses and entire family. Located in the Wilderness Ranch development, this house has the best of both indoors and outdoors for any season.
Flexible Wilderness Ranch Home for Sale
This is another beautiful Wilderness Ranch home with unobstructed views from the master suite. With room for all your vehicles and toys in a covered carport storage area and extra space available to meet any customized needs you have, this home is flexible for your hobbies and interests. Boise County’s mountain views are unbeatable.
Canyon Creek Home, 20 Minutes from Boise
Spectacularly close to the city but with the quiet, rural views of a mountain home, this single story dream home comes with a fully landscaped yard and three car garage. Canyon Creek is known for its large elegant homes and beautiful views. Living in Boise County doesn’t mean you can’t be close to Boise downtown with this home.
About the New View Team
The premier real estate team for the greater Southwestern Idaho region, New View is determined to provide the best service to help you find the home you have always wanted. Whether you’re looking for homes in the mountains of Boise County or surrounded by the bustle of Boise or Meridian, let us help you find your New View.
Wilderness Ranch 2015 Report
The Annual review of Real Estate sales in Wilderness Ranch and East Boise County for the 2015 year and the 2016 Forecast.
News and Headlines: Idaho Ranks #1 in Job growth at 4.7%. Boise makes headlines again for best places to live. Want to learn how Boise ranked nationally for 50 various categories such as ‘Most Caring city’, to ‘Most Artistic Mid Size City’ to ‘Healthiest City for Women to live’?
Great article can be found here showing where we ranked. http://www.bvep.org/facts/national-accolades.aspx
$0 – $69,999 = 9
East Boise County Statistics
We were privileged to be part of the great sales in Wilderness Ranch in 2015 and we look forward to many more slated to close by Spring 2016.
Wilderness Ranch Statistics
• There were 15 Home Sales out of a Total of 24 Listings. Plus counting 3 pending sales in 2015 that closed in January 2016 that is a 75% absorption rate
General News and Local Economic Forecast:
Activity seems to have started early this year. In January we closed two properties in Wilderness Ranch and put four additional pending. Already seeing some song birds and robins in abundance so maybe nature is predicting an early spring. That would be welcoming. If you’re considering Selling we are recommending to start early this year. If you would like a free evaluation and consultation of your property on how to prepare your home prior to selling then call or write anytime. Always happy to help. We invest a lot into the community and want you to get the best back.
Interest rates are still being held low artificially, but consensus is we will see mortgage interest rates climb this year to around 5% to 5.25% which historically is still very low. However if you were thinking of refinancing, this spring would be a good time if you have been procrastinating.
We are always easy to reach, so write or call. Often we may be driving up in the hills in Boise County but leave a message and we will always respond back quickly.
To stay up to speed remember to visit Idaho Mountain Real Estate and for Boise County in general visit homes in boise county and if you get a chance stop in and please give us a like on facebook www.facebook.com/WildernessRanchHomes .
Wilderness Ranch 2014 Report and 2015 Forecast
The Annual review of Real Estate sales in Wilderness Ranch and East Boise County for the 2014 year and the 2015 Forecast.
By: Paul Heim & Darcelle Sander of The New View Team at Silvercreek Realty Group
News and Headlines: Boise has made the top ten for best places to live in many polls, forums and magazines over the years and this year Boise wasn’t left out. Time rated Boise #1 out of Nine cities. The criteria for cities to make the list included a thriving economy, a booming cultural scene, quality health care, and a growing university.
Year at a Glance: The first two quarters of the year had a lot of momentum but things across the valley seemed to go into a small lull late July through early November. Value increases in the Treasure Valley spiked the first half of the year then we saw some decline in prices the second half, but overall finished about 2013 values.
Oddly enough, just following the midterm elections the market picked up considerable speed and Nov and Dec finished pretty strong. In fact most Agents and Title Companies said it was one of the busiest Decembers they had seen. Low gas prices and a drop in interest rates may contribute to a strong spring.
East Boise County Statistics
We were privileged to be a party to 8 of the sales transactions in Wilderness Ranch in 2014 and we have two current pending sales from 2014 slated to close mid Jan 2015.
Wilderness Ranch Statistics
• What a year 2014 was, a bit of a roller coaster at times it seemed. Overall growth in values in the Treasure Valley increased from 5 to 7% on average depending on location. The biggest gift of the year was the falling gas prices. How and when this will this affect the economy and Real Estate is yet to be seen.
• Sustained lower interest rates will hopefully make for a solid Spring. However the low interest rates can’t last forever, sooner or later they will start to climb.
• Boise has seen a lot of commercial growth in expectation of its influx of population. This will continue to help the Boise area market.
• Expect New Construction to pick up this year as the price gap between existing homes and new homes narrow.
There is much rumor that HUD, Fannie and Freddy may loosen some on lending standards and qualifications this year.
• They are also lowering PMI fees (Post Mortgage Insurance) from 1.35 to .85 as it was a very high cost on FHA loans. This may increase the median sales price as more people will be able to qualify for a slightly higher priced home. However here is hopping they don’t let lending become too loose again. But it is the government so I guess we can trust them right? As an example: on a 200k loan that would be equivalent to a monthly savings on your mortgage of $83.00.
• There may be attempts (as rumor goes) to try to repeal or amend all/or parts of the Frank Dodd Act. If that does occur then only time will tell how that will ripple over to the housing market. It could create a slightly more speculative real estate market which could be a blessing or a curse depending on your situation.
General News and Local Economic Forecast:
Late in the Spring we will be scheduling/planning a welcoming party for new residents. Everyone will be invited to attend. This will allow you a chance to get to meet them and them you. Stay tuned for details!
If you ever have any questions or care to know where your value is currently, please always feel free to contact us anytime. Always happy to help!
To stay up to speed remember to visit www.WildernessRanchHomes.com and for Boise County in general visit www.BoiseCountyHomes.com and if you get a chance stop in and please give us a like on facebook www.facebook.com/WildernessRanchHomes .
Navigating and Negotiating a Home Inspection Report
Want to introduce and thank Aaron G. for his Guest Post regarding the importance of Home Inspections.
A home inspection report is a crucial element to both buying and selling a home, so it’s important to understand how to navigate one and what to do with the results. Some homes require extensive repairs, while others may be nearly ‘turn key’ and ready to move into right away. It’s unreasonable to expect perfection up front as every as home has its issues. In fact even a brand new home will have something. Without experienced representation, lots of buyers may get spooked by home inspection reports and miss out on great opportunities.
As a buyer, you need to feel confident that you are making a wise investment by buying a home. Finding peace of mind that the large and small details are taken care of is where your Agent can assist. These are some of the key items to look for when reviewing a home inspection report; how to differentiate between serious and minor issues, and how to negotiate necessary repairs.
These are some of the more serious issues that you and your agent should be concerned about when reviewing a home inspection report. But just because multiple red flags exist, it doesn’t mean you should bail and look elsewhere. Take a deep breath and pay attention to the inspector’s advice about long-term solutions.
Mold and Mildew Issues
Mold and mildew aren’t just disgusting and unsightly; they are also indicators of serious moisture damage in a house. Poor roof drainage is often a common cause of mold and mildew in the attic space or even in the crawl space.
Electrical Wiring Issues
Many older houses have outdated electrical systems and electrical wiring setups that range from inefficient to downright dangerous. Electrical configurations can be complicated, so if you don’t understand what the report says, ask the inspector to explain it to you in detail. In some cases a licensed electrician may be hired for a review of the home.
When reading your home inspection report, find the section where the inspector describes the water pressure and drainage from the house’s pluming system. Plumbing problems can be difficult to detect because pipes are hidden behind walls and inside closets. Keep in mind that even the smallest leak could turn into a major household problem.
Check the report to determine if there are any shingles missing, gutters bent, or soft spots in the roof. Look for words like aging, cupping, blistering, lifting, and insect damage. If your prospective home has a fireplace, check the inspection report for details about the condition of the chimney, as chimneys are a major cause of home fires.
Although sellers don’t like to feel like they’re being nickeled and dimed, most won’t let a good deal get away from them over just a few small repairs or a couple hundred dollars. These issues may seem less alarming than the ones above; however, they shouldn’t be overlooked when you review your report. Remember, buying a house involves a little give and take.
Negotiating with the Seller
It’s important to be cordial and cooperative with the seller and the home inspector throughout the entire process to ensure that necessary items are repaired and to work out the details of paying for the repairs. Engage in open, honest discussions together about which flaws are just minor signs of normal aging and which ones are red flags for serious future issues.
An experienced real estate agent can help you negotiate with the seller to address all the issues in your home inspection report and leave nothing up to chance. For other useful buyer tips, including choosing a realtor and putting in an offer, check out HomeCity’s “Ultimate First Time Home Buyer’s Guide” to get prepared, comfortable, and excited for your new home!
Aaron G. lives in Austin, loves his dog, and often writes about Georgetown homes for sale.
Mortgage or a Note to a Deed of Trust?
Often people commonly use the word Mortgage when they take a home loan. A true Mortgage however is much different from a ‘Note to a Deed of Trust’ which make up the majority of all home sales.
Mortgages typically deal with homes with 40+ more acres and were designed for Farm, Ranches and large Estates. That will be another article….. today we will touch on a ‘Note to a Deed of Trust’ . What is it? How typical is it? Why do banks use them’?
For real estate purchases, state law requires either a mortgage or a deed of trust to provide security for a home loan. In many ways, a deed of trust functions like a mortgage. However, one major difference between the two lies in who holds the legal title for the home while the loan is being paid. In a deed of trust, the legal title is held by the trustee, often an escrow company, while the equitable title is held by the borrower. Also, in a deed of trust, a foreclosure can be conducted outside of the courts, which is almost always faster and less costly than a judicial foreclosure.
A deed of trust secures repayment of the loan by placing a lien on the property. There are three parties to a deed of trust: the borrower, the lender, and a trustee. Some states permit both a deed of trust and mortgage, while others use just one or the other. A deed of trust is always used together with a promissory note, which is a contract that sets and controls the terms of the loan and repayment. The trust deed is simply a security instrument—without it, the note still creates indebtedness, but it is an unsecured debt. The money would still be owed, but a lender would not be able to force a sale in satisfaction of the note without going to court as an unsecured creditor.
When a note is secured by a deed of trust, it allows the loan holder to take back the property if the conditions for repayment aren’t met. Remember that with a deed of trust, this can be done without court proceedings. The deed of trust, not the note, is recorded with the county recorder in the county where the property is located and indexed in the public records.
For more information on deeds and to purchase real estate deeds for your county and state, visit
How to Prevent Becoming an Overwhelmed Home Shopper
Searching for a new home, while exciting as it can be, often can be a very emotionally exhaustive exercise for a Buyer. How does a Real Estate Agent help a buyer with ‘Home Shopping Fatigue’?
Don’t know if you have ever had a chance to dine at the Cheesecake Factory. Wow what a menu! Choices upon choices and more choices; in fact about 50 pages of them. As intoxicating as that may sound, you can spend a half hour just trying to decide what to order. My waiter comes back after about five minutes and says ‘Are you ready to order yet’? and I have to tell him “I’m only on page five of ten of the appetizer section of the menu sorry”.
Where an agent brings value to his client is by quickly learning and understanding the needs and wants of a buyer, which can often be two separate things.
The problem lies here: ‘What a Buyer doesn’t know, he doesn’t know’. An experienced agent realizes that a buyer often starts with an idea or picture in his head, but after viewing actual properties their ideas, needs and wants will tend to evolve. It is important to listen and ask thought provoking questions which will require the Buyer to honestly evaluate and discern where they can be flexible and where they cannot. No home will ever give you 100%, even if you build it from scratch, after you were done there would be things you wished you did different. Try this with each property:
Once you have a clear picture of their needs, wants and desires, you as an agent can assist them by narrowing the search criteria to homes that will conform more closely to the items they cannot compromise on. Remember that your client is not just buying a house, their buying a home. Happy House Hunting!
WILDERNESS RANCH ANNUAL REAL ESTATE REPORT FOR 2013 SALES
2013 Wilderness Ranch Annual Real Estate Report
By: Paul Heim & The New View Team
At the start of 2013, Boise was named one of the top ten cities leading the national recovery by Forbes (as posted Feb 4th 2013), as well as one of the cities with the highest home price appreciation. But how did we fare throughout the year and where are we today, but more importantly, where will tomorrow take us?
Year at A Glance: The first and second quarter of 2013 showed continued growth and sales in both Ada and Boise Counties. While prices leveled off and a sense of normality returned to the market place, the third quarter showed a decrease. This was mostly due to the government shut down and sequestration which added both uncertainty and increased interest mortgage loan rates by 1% to 1.25% .
The end of the fourth quarter saw a small rebound. Average overall increase in value on a median priced home in 2013 was fairly similar for both Ada and Boise Counties, coming in at around 11%.
While the third quarter brought some price pressure on homes under 150k (mainly due to higher interest rates) we saw significant hurdles overcome in homes priced over 300k and upwards to 1 million. The following graph shows the average sales per year based on price range. As shown below, home sales of higher value were up significantly in Boise County. (see chart below)
Boise County Trending and Sales compared to Wilderness Ranch Properties Detailed in Following Graphs.
WR Comprised nearly a third of all the home sales in Boise County and on average continues to maintain a higher absorption rate and garner a higher sales price per square foot. The next closest neighborhood by comparison to WR would be Osprey, which generally sells at a higher price per sq ft. However it has a minimal amount of existing residences by contrast, hence therefore has a smaller turnover rate by proportion.
General News and Local Economic Forecast:
• As the large mining operation in Placerville grows (as is anticipated) this will also have an impact on Idaho City, as workers will no doubt frequent Id City for goods and services as well as increase rental rates.
• In addition, the new Medical Family Practice by Dr. Matthew Nelson known as ‘Mores Creek Family Medicine’ was a well needed addition to the county.
While this may be good overall for the US dollar in the long run and no doubt for people intending to live on interest from savings (because currently that is near zero) it will have a serious affect on real property sales for a period as it lowers buying power.
Here are two good source articles for reference:
Quantitative easing Federal Reserve announcement
Citing Growth, Fed Again Cuts Monthly Bond Purchases
Prediction: How will this affect or housing market in the year to come? Once people realize and accept that the trend on interest rates may be a steady climb upwards, I forecast that it will initially create a wave of buyers trying to beat the rising tide. Following that we will settle into a mental adjustment period where sales may go flat, and as laws of supply and demand go, can affect values. The duration period to pull out of something like that is difficult to predict at this point.
You can liken the adjustment to gas prices. Remember the first time you paid $2 per gallon? We all had a fit, then we saw gas rise to nearly $5 per gallon. Now we would dance for a chance at $2. I get giddy when it drops down near $3. People will always want and need to buy or sell, and eventually they will accept and settle in to the current norm of the day.
This spring may afford a window of opportunity. If you were considering making a move, upsizing or downsizing, then you may want to evaluate your options today.
Please feel free to call or write us with questions. We are always happy to help with information or to answer any questions.
Don’t forget to visit http://www.WildernessRanchHomes.com to see what is happening in your neighborhood. Also If you are interested in East Boise County in general you may visit http://www.BoiseCountyHomes.com
Closing a Real Estate Transaction – What to Expect
When you are purchasing a home, the closing is the last piece of the puzzle before you receive your keys to move into your new home. Your closing day may seem to move like a whirlwind, as there are many steps in the process that make sure everything is done professionally and accurately. What can you expect at closing? There are many things you need to know but here are a few of the basics.
First; the closing will generally be held at a Title Company, at an agreed location. However, depending on the circumstances, situation, and/or state you live in, it may also be conducted at your lender’s office, a real estate attorney’s office, or anywhere else that is legal and has been agreed upon.
There could be a number of different people who will attend the closing, such as your attorney, the seller and their attorney, both real estate professionals, your lender, the builder’s representative, the title company, a notary public and a closing escrow agent. It all depends on many different factors, such as; if it is a new construction home or existing, if there are attorneys involved, and the type of property that is being purchased. In many places the seller and buyer may sign at separate times. In some areas it may be customary for everyone to be at the same table at the same time.
Once the day and time has been scheduled for everyone at the agreed location, the closing process begins. Your closing escrow agent will review a settlement statement with you also known as the HUD (Housing and Urban Development) form, summarizing all the charges, credits and misc expenses that pertain to your particular purchase such as; title fees, loan fees, and other associated charges and credits that may apply based on the contracted details of your purchase.
When everything has been explained thoroughly and clearly so that everyone understands and is in agreement, then signing commences. The items you will have to sign may vary depending on the type of transaction. As an example; a cash deal will require a lot less forms to complete versus a standard ‘Conventional’ loan, but an ‘FHA’ (Federal Housing Authority) or ‘VA’ (Veterans Administration) loan will require a great deal more paperwork to review. Other documents you will also need to sign are the ‘Deed of Trust’ or mortgage, the promissory note, and the Clarity Commitment document. There might be other items to sign depending on your own specific situation and location.
Generally if you are financing your home then you will probably be required to provide evidence of homeowners insurance known as a ‘Binder; and in some cases the inspections that were performed on the home. Most all lenders require the buyer to have a homeowners insurance policy in place before they can sign over the home. This ensures that the lenders interests in the home are protected in case of a catastrophic event such as fire, water damage, etc.. This may also vary depending on your States requirements.
You will provide your down payment, closing costs, prepaid interest, taxes and insurance by using a certified or cashier’s check in most cases. Ask your closing agent what is the best form of payment that is acceptable. After all the parties involved have completed and signed all documents pertaining to the transaction, the lender (if applicable) will be notified to release funds to the closing escrow officer who will then distribute said monies as instructed by the agreement to the appropriate parties. The final step: Your new transaction will be recorded with the state, designating you as the rightful owner of your new home. In some states full funding may occur at the closing table, other states only after recording. Check with your agent for what is typical to expect in your State or area.
In order to cover everything, sign and delegate funds, the closing procedure may seem like a lengthy process. But once everything completed and all payments are distributed, the closing will be complete and you get the keys to move in to your new home.
About the Guest Author
2012 Wilderness Ranch Idaho Annual Real Estate Sales Report
Our Annual Review of Real Estate sales in Wilderness Ranch for 2012 and your 2013 forecast.
By: Paul Heim & The New View Team
Wow what a year! While I had forecasted in last year’s report that we had passed the bell curve and would see an increase in market values for 2012, the market surpassed what anyone had expected or predicted. We saw an unprecedented turn around in the Treasure Valley real estate market. Overall values increased anywhere from 10% to 15%. These gains were primarily in homes under $350,000 but higher priced homes benefited also.
What were the causes and effects? What we witnessed was a market correction. It showed that homes had become undervalued. I like to use the Circuit City analogy. ‘Best Buy won the war’, … however I would bet Circuit City had way more customers the last four months they were open during their ‘Going Out of Business Sale’. Best Buy had no way to compete with their prices those last months, but after their biggest competitor was finally gone, they knew they would see a spike in their growth and profit.
Likewise, as the banks ‘Going Out of Business Sales’ (foreclosed homes) were nearing a completion, the average seller was not able to compete with these prices. We then entered a period of contraction. This simply means we had more buyers than available listed properties. Supply and demand rules ensued.
With the low inventory of listings on the market, we often dealt with multiple bids in the Valley when homes were priced competitively. But how did Boise County and Wilderness Ranch fair in comparison?
In 2012 East Boise County finally crossed an important barrier. For 18 months we had no sales over $230,000 and that was causing difficulty in appraisals. Not that the value wasn’t there in higher priced homes, just that appraisers couldn’t validate them for the lenders and the lenders need the appraisals to issue the loans. The New View Team was able to complete two high-end sales (Boise County, but not in WR) very early spring, (cash deals) that helped remove that barrier and set precedence for every other sale and refinance that occurred moving forward in 2012.
Boise County tends to lag behind the Boise Valley (Ada County) by six to twelve months typically. The Boise Valley saw a noticeable turn in the market starting the fourth quarter of 2011 so we anticipated it to carry over to Boise County by spring, but as summer set in it happened better than anyone had expected. No complaints here!
Here are some graphs to illustrate key trends in the Boise Valley and East Boise County Real Estate Markets
Boise is still seeing a contraction as developers try to re-group and get approval on new parcels through the hoops of planning and zoning for building.
I expect to see more homeowners (who were previously tight on the current value vs. what they owe) attempt to list in 2013, now that values have increased. Nationally, home prices are predicted to increase 1% to 3%, but I predict Treasure Valley real estate increases to be somewhere between 3% to 5% conservatively.
In part, this projected increase will be due to a rebound in land values, which affects ‘over all’ home values.
Boise County, I believe, will see the START of a land recovery in Spring of 2013. Whether it will do as good as housing did in 2012 is yet to be seen. If you are looking to invest, then NOW may be a good opportunity to consider land, prior to a potential rebound.
I would suspect we will see more building and new construction homes taking place in Boise County in 2013.
There are some other exciting things happening in Boise County potentially for 2013 and we will keep you updated with them as the year progresses. Some highlights are:
– The opening of the Hot Springs in Idaho City which will help this end of the county economically.
– Dr Matt Nelson’s new Family Practice office, which will be located directly across from the old Rock’s Lodge.
If you have any real estate related questions, please feel free to call or email us anytime, or visit our website! We would love to hear from you.
Paul Heim & the New View Team
(208) 344-5700 – office
(208) 794-8175 – Paul Mobile
What made you move to Boise?
Boise is a unique city experiencing an influx of folks that migrate from many places. As it grows it has developed its own unique personality. But many of the things that make Boise so great are the foundations that were laid by others years ago, by the everyday people who created it through good times and bad.
I just wanted to share what I love about Boise and what drew me here and hoping to hear your story too.
I have resided in the Boise area for almost ten years. My first regret was that I didn’t move here ten years earlier. However I have had some history to Boise prior to moving here, as my sister has lived here for over 30 years. Having visited on numerous occasions I easily fell in love with the laid back people, the easy quick access to mountains and nature, and one of the last places to feel what the ‘Wild West’ was about. Since well over half of Idaho is available to the public, you can spend your life exploring the back country and never scratch the surface.
My best way to explain the Boise phenomena is this way; is it the most beautiful place in the world? No, but it does have a lot of amazing beauty. Is it the cheapest in the world? No, but life here is pretty reasonable and the quality of life is well worth it. Is Boise the safest place in the world? No, but if you lost your wallet, odds are on your side you will get it back,…with your money in it. I can attest embarrassingly to this fact twice over the years. Is it the friendliest place? Perhaps not, but I and most others agree, people here are down right neighborly and will help someone in need. Lest I forget, you can actually get service at local commercial businesses from people who actually smile and if they don’t have what you need, they will tell you where to find it. Almost like going back 50 years when it comes to manners.
There is no true utopia and you will find bad elements anywhere you go in the world. So while Boise may not always win first place in everything, if you add up all the well-rounded benefits it offers in so many of the facets important for day-to-day living, statistically it is kind of hard to beat. It’s the only place I have ever lived that I look forward to coming home from vacation.
Please share what you love about Boise, what drew you here and/or Idaho in general. I want to hear.[contact-form]