Welcome to Idaho Windermere Real Estate, your premier source for Real Estate in Boise, Eagle, Meridian, Nampa, Garden Valley and other areas throughout Idaho. Whether you are looking to find a statewide Idaho Realtor, or a local Boise Realtor, we have the knowledge and resources to help you find, buy, or sell a home throughout Idaho with the West’s Best Real Estate Agency. Our Real Estate agents can help you select a home from Idaho MLS, Boise MLS, and other MLS lists throughout Ada County and Canyon County.

Friends,

December was another somewhat encouraging month for Real Estate in Boise. Inventory continues to evaporate and at 2262 properties was 31.5% below a year ago. Based on the current rate of sales there is 4.4 months of inventory compared to 8 months in January 2011. Inventory has been 5 or below since March and is well below the 6 month figure that most experts consider a “normal” market. Days on Market at 101 has fallen 24.6% from a year ago while sellers are getting an average of 94% of their listed price, up from 90% last year. All signs of a robust market!

There are fewer choices for buyers and that is finally starting to be reflected in prices of certain types of property. The average price per square foot was $86 in December a 2.5% increase from 2010. While the number dropped slightly from November, the price per sq foot has been hovering between $85 and $90 since April. Similarly, the average sold price has been virtually unchanged for 4 months and in December was $174,000 up 1.8% from 2010. Still too early to declare a recovery is under way, but for you fence-sitters waiting for the market to bottom out, you better keep your checkbooks handy. The bounce along the bottom may have some bumps in it but it looks like we may finally be there. The single biggest factor working against a stabilization/recovery in prices has always been high unemployment and even those numbers are starting to improve. Granted there are still other factors suppressing growth in our housing market. “Distressed” sales still represent almost 50% of all closed sales in Ada County (46% in December). New lending guidelines and the large number of people who have already lost homes in the current crisis further limits the size of the buyer pool.

A closer look at distressed vs traditional sales reveal some interesting (and very surprising) trends:

Transaction Type # Closed 12-2011 % +/- vs 2010 Avg $/SF % +/- vs 2010 Avg Sold Price % +/- vs 2010 Days on Market % +/- vs 2010 % of list price % of list price 2010 Months Inventory
Traditional 279 +20.3 96 -4.3 202,000 -3.3 100 -30.6 95 90 5.3
REO/Bank 117 -50.1 73 +3.3 134,000 +2.3 51 -45.6 96 93 1.0
Short Sale 120 +29.2 73 -4.0 147,000 -15.5 151 -24.5 91 86 5.5
Total 516 -11.8 86 +2.5 174,000 +1.8 101 -24.6 94 90 4.4

The biggest surprise is that based on the figures above, the REO/Bank Owned properties are leading the charge to stabilize prices. The common perception is that banks are unloading their properties and driving the market down, and yes, the average sold price of those properties would support that. But buyers are flocking to them and actually driving prices up, in many cases above asking price. In fact without REO’s prices would still be trending down significantly. As a result there is only a one month inventory for REO’s versus over 5 months for both traditional and short sale properties. The other thing that jumps out at me is that there aren’t many REO properties available—a drop of 50.1 percent from a year ago as far as closings go, while short sales seem to be picking up the slack and are consequently dropping in price. This could be banks willing to take less in a short sale than before rather than foreclose and have to sell the properties themselves, although they got 91% of their asking price in 2011 up from 86% in 2010. Another trend is that short sales are getting easier and somewhat quicker although they are still much slower and more uncertain than any other type of transaction. Average days on market for short sales dropped to 151, the lowest in years, but REO’s were only 51.

I remain cautiously optimistic of what 2012 will bring to the Boise market, although a recovery based on REO’s is not what I had in mind. If inventory stays low and unemployment drops in a significant way we should see a more broad based improvement in the market. The complete graphs are below for those that are interested.

As always I welcome your comments and questions and above all, your referrals!

Cam Johnson
Realtor®
Windermere Access Realty
1412 W Idaho St.
Suite 120
Boise, ID 83702
208-258-2222 Office
208-283-3664 Cell
208-258-2230 Fax

camjohnson@windermere.com
Check out my listings here: http://www.camjohnsonhomes.com

 Please consider the environment before printing this e-mail.

« 0 comments so far. Share your thoughts... »

Friends,

December was another somewhat encouraging month for Real Estate in Boise. Inventory continues to evaporate and at 2262 properties was 31.5% below a year ago. Based on the current rate of sales there is 4.4 months of inventory compared to 8 months in January 2011. Inventory has been 5 or below since March and is well below the 6 month figure that most experts consider a “normal” market. Days on Market at 101 has fallen 24.6% from a year ago while sellers are getting an average of 94% of their listed price, up from 90% last year. All signs of a robust market!

There are fewer choices for buyers and that is finally starting to be reflected in prices of certain types of property. The average price per square foot was $86 in December a 2.5% increase from 2010. While the number dropped slightly from November, the price per sq foot has been hovering between $85 and $90 since April. Similarly, the average sold price has been virtually unchanged for 4 months and in December was $174,000 up 1.8% from 2010. Still too early to declare a recovery is under way, but for you fence-sitters waiting for the market to bottom out, you better keep your checkbooks handy. The bounce along the bottom may have some bumps in it but it looks like we may finally be there. The single biggest factor working against a stabilization/recovery in prices has always been high unemployment and even those numbers are starting to improve. Granted there are still other factors suppressing growth in our housing market. “Distressed” sales still represent almost 50% of all closed sales in Ada County (46% in December). New lending guidelines and the large number of people who have already lost homes in the current crisis further limits the size of the buyer pool.

A closer look at distressed vs traditional sales reveal some interesting (and very surprising) trends:

Transaction Type
# Closed 12-2011
% +/- vs 2010
Avg $/SF
% +/- vs 2010
Avg Sold Price
% +/- vs 2010
Days on Market
% +/- vs 2010
% of list price
% of list price 2010
Months Inventory

Traditional
279
+20.3
96
-4.3
202,000
-3.3
100
-30.6
95
90
5.3

REO/Bank
117
-50.1
73
+3.3
134,000
+2.3
51
-45.6
96
93
1.0

Short Sale
120
+29.2
73
-4.0
147,000
-15.5
151
-24.5
91
86
5.5

Total
516
-11.8
86
+2.5
174,000
+1.8
101
-24.6
94
90
4.4

The biggest surprise is that based on the figures above, the REO/Bank Owned properties are leading the charge to stabilize prices. The common perception is that banks are unloading their properties and driving the market down, and yes, the average sold price of those properties would support that. But buyers are flocking to them and actually driving prices up, in many cases above asking price. In fact without REO’s prices would still be trending down significantly. As a result there is only a one month inventory for REO’s versus over 5 months for both traditional and short sale properties. The other thing that jumps out at me is that there aren’t many REO properties available—a drop of 50.1 percent from a year ago as far as closings go, while short sales seem to be picking up the slack and are consequently dropping in price. This could be banks willing to take less in a short sale than before rather than foreclose and have to sell the properties themselves, although they got 91% of their asking price in 2011 up from 86% in 2010. Another trend is that short sales are getting easier and somewhat quicker although they are still much slower and more uncertain than any other type of transaction. Average days on market for short sales dropped to 151, the lowest in years, but REO’s were only 51.

I remain cautiously optimistic of what 2012 will bring to the Boise market, although a recovery based on REO’s is not what I had in mind. If inventory stays low and unemployment drops in a significant way we should see a more broad based improvement in the market. The complete graphs are below for those that are interested.

As always I welcome your comments and questions and above all, your referrals!

Cam Johnson

Realtor®

Windermere Access Realty

1412 W Idaho St.

Suite 120

Boise, ID 83702

208-258-2222 Office

208-283-3664 Cell

208-258-2230 Fax

camjohnson@windermere.com

Check out my listings here: http://www.camjohnsonhomes.com

« 0 comments so far. Share your thoughts... »

« 0 comments so far. Share your thoughts... »

Friends,

My enthusiasm in the October report, while somewhat tempered, remains alive with the November numbers I have just received. For the second straight month I believe the stats suggest we may finally be bouncing on the bottom of the downturn that has been going on for all of 5 years now. Barring some unpredicted national/international event I am hopeful that the current trends will continue and possibly even improve a bit. Recent unemployment figures have been slightly better both on a national and local scale. Consumer spending and confidence have also ticked up. All of these things do affect our real estate market just as events in Europe and the 2012 elections also may.

519 Homes sold in Ada County in November, a 4% increase from 2010. Pended sales were also up a healthy 9.7% while inventory continues its trend of most of the year and plunged 33.1%. There are literally one third fewer homes on the market than at this time last year and I have seen the effects of that first hand with the buyers I am currently working with. There seem to be few quality choices and in the sweet spot of the market ($100-150K) there is pretty intense competition between buyers. Distressed sales continue to be a dominant force but the trend seems to be swinging away from Bank Owned properties and back towards Short Sales. So while the Days on Market for non-distressed sales in that price range is 81 (24.3% below last year), for distressed sales, particularly short sales, it is 162 days. This indicates that banks still haven’t mastered dealing with short sales in a timely manner and that there is strong demand for non-distressed sales in that price range. Days on market for all price ranges has dropped 15.7% to 97 days since 2010 reflecting that more buyers are out there but don’t have as many choices as they used to. Months of inventory is currently at 4.6 versus 7.2 last year. You may recall that most analysts feel 6 or below represents a stable to robust market and we have been 5 or below since March.

The big news in October was that for the first time in over 4 years prices actually inched up a tiny bit (.6%!). I was holding my breath for the November numbers to see if that was a fluke or perhaps the beginning of a trend. The answer so far lies somewhere in between as the average price per square foot dropped by $1 from October 2011 to $88 but was unchanged from November 2010. The average sales price was $175,000 which was a 3.3% drop from November 2010 but was unchanged from this October. The 3.3% drop may be slightly misleading as there was an inexplicable one month spike in the average sales price last November. I think the most encouraging thing I gather from both the average $/SF and the average sales price numbers is that they have been remarkably steady since June. After 4+ years of drops that is pretty good news. So while I certainly don’t foresee any dramatic price increases it is beginning to look more and more like things have steadied. High unemployment, tougher lending standards, consumer caution, and the growing number of people with good income who are unable to buy homes because they have already lost or short sold one will continue to keep a lid on prices. But the blood-letting may be mostly over, although people who bought at the peak and have to sell are going to continue to feel pain for years to come.

As always your questions, comments, and especially your referrals are always welcome. For those of you interested in more details please scroll down to the graphs below.

Best wishes to all of you this Holiday Season!

Cam Johnson
Realtor®
Windermere Access Realty
1412 W Idaho St.
Suite 120
Boise, ID 83702
208-258-2222 Office
208-283-3664 Cell
208-258-2230 Fax

camjohnson@windermere.com
Check out my listings here: http://www.camjohnsonhomes.com
Boise (Ada County) Real Estate Report for November 2011

« 0 comments so far. Share your thoughts... »

Windermere Access Realty has officially opened its 2nd location at 1412 W.  Idaho Street!   We are enjoying our new working environment and welcome all our clients and real estate agents to stop by and visit us in our new space. 

  Cindy and Josh

« 0 comments so far. Share your thoughts... »

Trying to sell your home during the holidays is not easy!  We tend to get busier, more stressed, and the last thing we need is strangers examining our home, right?  Well, this year you may want to do a little less decorating but a little higher quality of the decorating you do!  Professionals say holiday decoration can brighten our moods and make a home look warm and cozy and welcoming.  There are a few rules to holiday staging so keep these in mind:

Acccording to June Lizotte with June Lizotte Real Estate in Milwaukie, OR, the key is to use high quality and color coordinated décor.

1. Don’t overdo the holiday cheer. Joanne O’Donnell of Chic Homes Interiors says, “If it is cute, it stays packed. Cute is not a universal concept and the surest way to avoid trouble is to keep it simple and elegant.” Don’t overwhelm the space with clutter. It is recommended by real estate pro Tony Lynn Wallitsch with Alliance Real Estate and Ross Designs LLC in Omaha, Nebraska, that for every holiday decor that is put on display something that is usually out should be temporarily put away to avoid over-decorating. Remember that you want buyers to see a home and picture themselves living in it with their things - make it easier for them to do that by keeping rooms as clutter-free as possible.

2. Add holiday colors. Psychology research has shown us all that warm colors can increase excitement and energy so bring on the red even if in a few throw pillows or a blanket. Greenery from the yard can be used on mantels or in natural centerpieces, O’Donnell says, and she likes bows and ribbons on candles, wreaths, and basket handles. Use similar color palettes from room to room.

3. Alert the senses. O’Donnell recommends putting mulling spices or cider in a pot for great holiday scents and Betty Cunningham, with Coldwell Banker Residential Brokerage in Schaumburg, Ill., likes seasonal candles, oils, potpourri in pine or fresh-baked cookie scents. She also gives CDs to her clients for showings - mostly instrumental and soft holiday music. A 2005 study by Eric R. Spangenberg, Bianca Grohmann and David E. Sprott, Journal of Business Research (Vol. 58, Issue 11) showed the presence of Christmas scent with non-Christmas music lowered buyers’ perceptions but Christmas music and Christmas scent had a favorable buying response.

4. Keep the tree simple, yet elegant. Wallitsch suggests if your tree is larger than six feet, remove a piece or two of furniture to eliminate a crowded feeling. Keep the very personal ornaments toward the back of the tree or packed up for next year. If possible, hang ornaments of one basic color palette and show pieces mixed in both on tips of branches as well as inside tree.

5. Give the right holiday impression with curb appeal. White lights, preferably non-blinking, are favorites among stagers and realtors. Because your home is usually shown in the day, use tasteful decorations that work well day and night. A wreath on the front door makes a huge impression - keep it clean and in good shape. You may want to take a photo of the home at night to use for marketing purposes!

6. Remove all décor immediately after Christmas! We all have bad impressions when we see homes with lights still hanging in July! Those decorations you pack away by New Year’s Eve (yes!) will hopefully be in a new home with you next Christmas!

« 0 comments so far. Share your thoughts... »

Most have heard about Spring Cleaning buthow about Winter Organizing? Extensive home cleaning and reorganization doesn’t have to take place only once per year, in fact everything will stay organized and well kept longer if you spread your home organization projects to twice per year. We end up spending a lot more time indoors in the winter and what better time to tackle a bit of home clean up then when the cold weather has your trapped inside. Throw a pot of apple cider on the stove to give your a house that holiday home feel and tackle your clutter with these easy tips!

• Add To Your Storage Collection- You can really never have too many storage solutions. Take advantage of pre holiday sales and pick up some totes and clear plastic containers. These will come in handy for storing clutter that has accumulated during the weather change and doing so in an organized way.
• Take On One Room At  A Time, One Rainy Day At A Time- Stuck inside and looking for something to do? Spread out your cleaning, reorganizing and decluttering. Tackle one room at a time to not feel overwhelmed. Start with living areas that you will be sharing with others during the holidays, then attack room by room.
• Don’t Wait For Garage Sale Season, Donate Donate Donate- Sure your could set aside all the items you no longer need in a tote for garage sale season to come around again but you could take this opportunity to get rid of items now and donate them to your local Salvation Army or Thrift Shop and make someone elses day!
• Make Indoor Family Activities Readily Available- Have boardgames, cards, arts and craft projects, and puzzles readily available. No quicker can a mess be made then someone climbing to the top of a closet pulling down everything in their way of the Monopoly Board. Make designated space in your living area so everyone knows where to find their favorite rainy day activity and where to put it back when they are finished.
• Make Room For That Winter Gear- Get ready for jackets, scarves, wet boots and rosey cheeks! Even if you don’t have a mudroom large enough for all your storage needs you can still keep your winter gear organized and cleaned up even in small spaces. Invest in a shoe rack, some hooks for coats, scarves and gloves, and designate spaces to keep order. Multiple people in the family? Get a stackable drawer organizer and give each person their own drawer for their gear.

Get to organizing for the best home enjoyment this winter!

« 0 comments so far. Share your thoughts... »

Nowadays it is said that the average person knows, either directly or through a friend, coworker or a family member, 10 liscensed real estate professionals.  That can make picking the perfect agent to help you find the home of your dreams quite the tideous task. You have to wonder what sets each agent apart from the other, if your personal relationships need to be taken into consideration when conducting the businss of buying your home, and who really is the best selection of an agent for you.

At Windermere Capital Group we feel that what matters most is your hapiness and the opportunity to help you is a calling that our agents take very seriously. There a few things in life more important than your home and we understand that a home is about making memories and a place where dreams come true. Your home is about family, friends and experiences you cherish. Your home is where your life takes place and the process of homeownership should be treated as so.

For the agents of Windermere Capital Group their part in this process is to help you easily, quickly and safely reach the next chapter of your life. Windermere Capital Group agents love what they do and hope that you know that their only role is to ensure you get an extraodrinary experience. To that end, you too  have rights in your realtor/home buyer partnership.

Your Rights Are:

• To Expect Prompt & Caring Service
• To Have All The Correct Information Immediately
• To Find Exactly What You Want Quickly & Easily
• To Expect Your Agent To Know Everything About The Home, The Neighborhood & Your Dreams
• To Expect Your Agent To Guide You Through Every Step of The Process
• To The Ultimate Real Estate Experience

When choosing a Windermere Capital Group agent you can fully expect that your rights will be  honoroed and because of that your journey will be mutually rewarding!

« 0 comments so far. Share your thoughts... »

Who isn’t looking for a deal, and  a way to cut costs and to save money espeically approaching the Holiday Season?  Lowering energy costs can be a big money saver and if you can do it without adding cost on home improvements that’s all the better. Windermere Capital Group has accumulated some great tips on how to save on your heating bill and do it without spending a dime!

Turn It Down A Notch- Did you know you can save 3% on your heating bill for every degree you set back? Turn it down 10 degrees when you leave for work and again when you go to bed and save!

Don’t Leave The Fan Running- Kitchen and bathroom fans can expel a houseful of warm air after just an hour of use. Turn them off as soon as they have done their job.

Use Curtains- Opening curtains on South-facing windows during the day allows solar radiation to warm up your living spaces. Close them at night to keep the heat in.

Keep Heating Vents Clear- Make sure your heating vents are not covered by rugs or furniture to keep warm air circulating effectively.

Turn Down Your Water Heater- Heating water is the 3rd largest portion of a typical  heating bill. Turn your water heater down to 115-120 degrees for an unnoticeable difference that will save you money.

Close Fireplace Damper- The chimney of your fireplace is designed specifically to pull smoke out of the house. An open chimney is like a hole in your roof! According to the U.S. Department of Energy, about 14% of warm air that escapes from your house is lost through the fireplace. If your fireplace has glass doors, keep them closed when the fireplace is not in use. Also consider limiting fires since they suck heat from the room.

Change The Direction Of Your Ceiling Fan- In summer months you want your ceiling fans to be running in a counter clockwise direction to make the home feel a good 8 degrees cooler, but for winter months you want to change the direction to clockwise and set at a low spin to circulate warm air.
Use these tips to lower your heating bill while staying warm and cozy this winter!

« 0 comments so far. Share your thoughts... »

Properly preparing your home for sale is one of the best ways to make a favorable impression that will help it sell more quickly and for the best price. The agents of Windermere Real Estate/Capital Group can help you stage your home or refer you to a local accredited staging professional. However, there are many things you can do yourself, both before and during showings to improve the ambiance of your home and it’s appeal!

Before Showings:

• Turn on all interior lights, even if it is during the day and all exterior nights in the evening.
• Make the temperature comfortable-approximately 68 degrees.
• Keep pets in a separate area, and change litter boxes daily.
• Put money and other valuables away and out of sight.
• Keep curtains, drapes and shades open.
• Open all doors inside the home except closets.

During Showings:

• A buyer will likely spend more time previewing your home if you are not there.
• If you can’t leave the home, try and stay out of the way, and keep children quiet.
• Don’t precede to follow potential buyers through your home.
• Let the sales associate show and sell your home.

Before showing your home identify the areas of your home that may need improvement in order to make the best first impression on potential buyers.

Entry, Living Room, Dining Room, Family Rooms

• Traffic Patterns
• Furniture Arrangement
• Window Coverings
• Fireplace
• Floors/Carpet
• Walls & Ceilings

Kitchen

• Countertops
• Cabinets -Exterior & Interior
• Appliances
• Faucets
• Sinks
• Floor
• Wall & Ceilings

Bathroom(s)

• Tub
• Shower Enclosure
• Tile & Grout
• Sinks & Counters
• Toliet
• Faucets
• Floor
• Walls & Ceilings

Bedroom(s)

• Traffic Patterns
• Furniture Arrangment
• Window Coverings
• Closets
• Floor/Carpet
• Walls & Ceilings

Yard

• Lawn
• Hedges & Shrubs
• Flower Beds
• Fences & Gates
• Walks & Driveways
• Home Exterior
• Paint & Trim
• Porches, Decks, Railings
• Brickwork
• Siding
• Front Door
• Roof

Garage

• Door
• Storage

« 0 comments so far. Share your thoughts... »