NOW is the Best Time to Purchase a Home!

It is likely that this is the most ideal time to purchase a home for our generation.  Here is why:

1)      The affordability of homes is the best that it has been in decades

2)      The prices of homes for sale are nearly 1/3rd lower today than in 2006 (the real estate “peak)

3)      The monthly cost to rent is often more than the monthly cost to purchase a similar home.  Interestingly enough, statistics show that purchasing a home is less expensive than renting in 98% of the United States 100 major markets.

4)      Mortgage interest rates are at historic levels.  These low interest rates can be “locked in” for the next 30 years when obtaining a 30 year fixed mortgage.

5)      Overall, the health of the US economy seems to be improving.  Unemplyment is decreasing, wages are rising and there is minimal indication of looming inflation.

Current market conditions indicate that NOW may be a perfect time to purchase a home!!

Are you curious to find out what’s currently for sale in your particular area?  If so, start your quest for information at www.TrustIdaho.com/search

Choosing the right Realtor to sell your home

Choosing the right Realtor to sell your home

If interested in selling your home, a great real estate broker will help you price your home at current market values, market your home using today’s top techniques, qualify potential buyers and expertly negotiate (and finalize) the transaction.

A top-notch real estate broker has tenured experience with past sales and can balance optimism with realism and honesty with tact.  You owe it to yourself to find the best possible real estate broker to help with the sale of your home.

Below you will find a list of “to do’s” when picking the right Broker to sell your home.

1)       Round up good prospects:  In order to identify prospective Realtors, ask friends or neighbors.  You can also browse the internet to find the brokerage which has a large presence in the local market.  Make certain to search for real estate professionals whose credentials match your particular needs.

2)      Ask tough questions:  Obtain a real estate professional that is familiar with your neighborhood.  Make certain that your prospective Realtor has constructive input about price and condition.  Be curious—what types of marketing efforts are used with the marketing or your home?  Make certain not to “fall for” the Realtor which promises the quickest sale for the best price.

3)      Make certain that your Realtor has “backup”:  It is essential that your Realtor has at least 1 assistant or a team of real estate professional in order to make certain that no potential purchasers are placed on the back burner when inquiring into the specifics of your home.

4)      Sign the right contract: Inquire with each prospect on how long the marketing contract for your home will last.  The slower the market, the longer the contract, typically.  A six month agreement is typical in today’s market.

Are you interested in selling your home or at least obtaining a free current market analysis?  If so, call me directly at 208-869-3469 . . .

Boise ranks #6 in “Top Turn-around Towns”!

Boise ranks #6 in “Top Turn-around Towns”!

The Boise-Nampa Metro Area is in the midst of a real estate market rebound which is evidenced by being rated as one of Nation’s top 10 turn around towns.  You will find the Boise along with Pheonix  are the only metro areas which received this accolade besides areas within Florida.

Hurry before it’s too late!  Home pricing and current interest rates makes this the most affordable time to purchase a home in decades!  (78% of homes sold during the first quarter within the US were affordable to those earning the national median income of $65,000, according to a report released Thursday by the National Association of Home Builders and Wells Fargo.)

  • Miami –– Median home price: $185,000
  • Phoenix –– Median home price: $129,000
  • Orlando, Fla. –– Median home price: $145,000
  • Fort Myers, Fla. –– Median home price: $115,000
  • Sarasota, Fla. –– Median home price: $181,000
  • Boise, Idaho –– Median home price: $120,000
  • Naples, Fla. –– Median home price: $218,000
  • Fort Lauderdale, Fla. –– Median home price: $198,000
  • Lakeland, Fla. –– Median home price: $100,000

 

  • Punta Gorda, Fla. –– Median home price: $124,000

Keys to Selling Your Home in Today’s Market

Keys to Selling Your Home in Today’s Market

Homes are being purchased—how are sellers doing it?

All homes are different and there isn’t one simple strategy that works well for every home.  However, the real goal is to understand that today’s real estate market is cash driven and very competitive.  Home seller’s that understand the market and work with a well-qualified brokerage are the most likely to succeed with the successful sale of their home.

In March of 2012, nearly 1/3rd of all home sales were “cash” (the buyer was not dependent upon financing, the sale of their current residence, etc).  Instead, a cash buyer has the ability to close the transaction quickly instead of waiting for financing to be prepared or the sale of the existing residence.

There are 6 basic rules which typically provide success with the sale of a home:

1)       Curb Appeal:  The majority of home purchasers want a home that looks great from the outside.  It is a matter of perception since if the home looks good from the street then the potential buyer surmises that it most likely means the home is ready for a new occupant and does not need a lot of improvement.  Potential home purchasers tend to bypass a home that doesn’t appeal to them from the road—not even bothering to look inside.

2)      No Cluttter:  Home owners must allow potential buyers to view a clutter free home.  A clutter free home will present the interior  space as “larger” and abolishes the need to get rid of “stuff” when in the midst of moving.  It is very wise to reduce the clutter prior to the home being placed onto the market.

3)      Working condition:  The home’s systems being in great mechanical condition is a positive in today’s market since most distressed property cannot compete when it comes to the basics (heating, air conditions, appliances, etc).  Homes that easily get through a home inspection are typically easier to financing and are generally more appealing to home purchasers which are afraid of future costs.

4)      List and negotiate properly:  A seasoned real estate broker can easily show home sellers how to market and sell a home according to factors such as location, price, condition, and financing types. Hiring a qualified real estate broker to help with the sale of your home will alleviate concerns due to the market knowledge and experience provided.

5)      Seek Qualified Buyers:  Although cash transactions have increased, the majority of sales still require financing to be provided to the buyer for the successful sale of the home.  It is very, very frustrating to enter into a purchase and sale agreement with a home purchaser who ultimately is unable to obtain funds to purchase the home.  The home seller, in turn, has lost time on market (and potentially money) and has to start from scratch to locate an alternate purchaser.  It will be important to ensure that the buyer has a loan approval letter “in hand” prior to accepting an offer to purchase.  Lender approval letters are not binding but the document will at least show that the buyer did take the time to meet with a mortgage brokerage to gain knowledge of their financing capability.

6)      Distressed properties:  Approximately 30% of all home sales involve distressed property (short sales, foreclosed property/bank owned homes).  It will be important to evaluate the amount of distressed property and pricing in your vicinity so that your home can be priced appropriately.  Distressed property typically sells at a discount yet as mentioned previously, most distressed homes for sale require TLC.  Homes in good condition obtain higher purchase prices.

TIME IS SHORT–GET OFF THE FENCE!

TIME IS SHORT–GET OFF THE FENCE!

Becoming a home owner will most likely never be as inexpensive as what it is today.  Real estate experts surmise that the year of 2012 will be the last chance for potential home purchasers to take advantage of the best buys of the weak housing market.

With mortgage interests rates at record lows and home prices down nearly 40% nationally since 2006, buying real estate has never been more affordable.  Unfortunately, all good things will eventually come to an end.  The chief economist for PNC Financial Services says that he believes home prices will stabilize by the 3rd quarter of 2012 and start increasing by 2013.

The decline in the amount of foreclosures along with (and most importantly) positive job growth will continue to help with the real estate market rebound.  Additionally, home purchasers should have access to mortgages as credit scores and personal finances begin to recover.

Prospective home purchasers currently sitting on the fence shouldn’t fret too much if not quite ready to pull the trigger.  Most real estate experts predict that the initial price gains will be modest in most market.  Interest rates, on the other hand, may being their incline at a more rapid pace.

Interested in taking advantage of the currently real estate market?  If so, call me directly for a free consultation:  208-869-3469

Well Priced HUD Home for Sale

HUD HOME FOR SALE

3324 E Rock Court   Nampa, ID  83687

HUD HOME containing 3 bedrooms, 2 bathrooms and 1144 square feet! Located in an established & well-kept community, this home is in very good condition & is located just a hop-skip & jump from the freeway. The interior is open & bright, containing vaulted ceilings, recessed lighting, plant shelves & a split bedroom design. The kitchen overlooks the living area—ideal for entertaining. The exterior holds an oversized back patio (perfect for spring/summer BBQ’s), an abundance of fruit trees & RV parking potential. Priced at only $67,000.  Call today to view the interior!

The seller of this HUD home for sale may provide a closing cost credit of 3% to be included with the purchase of this home.

An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $67,000 while placing 3.5% down (4.5% interest rate—taxes and insurance(s) included) would be at or around $425.00  monthly—why rent?!?  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

Please visit https://trustidaho.com/search/#PropertyID=46688720 to view detailed information and additional photos of this HUD home for sale.

**INVESTORS—call me now if you’re sick and tired of your hard earned funds sitting in non-performing stocks or low interest bearing savings accounts.  The time is NOW to invest in real property that will obtain at least $650 per month in rental income (not to mention future pricing appreciation).

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  matt@trustidaho.com

Call today for additional information or to view the interior of this or alternate HUD  homes for sale!

Benefits of a 15 Year Mortgage

Benefits of a 15 Year Mortgage

The push toward a 15-year fixed mortgage rate has never been more appealing because the interest rate benefit over the 30-year fixed rate has never been larger.  The rate benefit on a 15-year fixed rate in comparison to a 30-year fixed rate is about .875%.  Prior to the real estate crisis, the difference between a 30-year fixed rate and a 15-year fixed rate was .375% to .5%.

For example, there are 2 $100,000 loans—one which is involved in a 15-year mortgage at 3.125% and the other at a 30-year fixed rate at 4%.  At the 30 year plan the monthly payment is $477.42 and at the 15-year plan the monthly payment is $696.61.  After just 15 years, the borrower with the 15-year fixed rate mortgage has paid 39K+ more but is out of debt whereas the borrower with the 30-year mortgage still owes $64,543.

Granted, there is a flip side.  A well-qualified borrower could use the 30-year loan and invest the difference in in payment from a 15-year mortgage to a 30-year mortgage.  Thus, offsetting the higher interest rate on the 30-year mortgage.   Some financial advisors recommend this type of approach to build wealth more quickly.

The challenge with making a program such as the one mentioned above work is that the rate of return on the cash invested must exceed the rate on the 30-years loan.

Another option is to obtain a 30-year mortgage yet pay the mortgage as if using a 15-year mortgage.  By doing this, the homeowner would have the option to pay the lower monthly payment during a difficult financial month yet will still decrease the principle balance drastically when paying additional money toward principle on the “good months”.

HUD HOME

HUD HOME FOR SALE

724 S Valley Dr  Nampa, ID  83686

HUD home situated within a well-established neighborhood near medical services & shopping and containing 3 bedrooms, 2 bathrooms and 1438 square feet. The interior contains vaulted ceilings, ceiling fans, recessed lighting, window seats, some updated fixtures & a separate family room/office. The master suite is over-sized & the kitchen holds a corner pantry. The exterior is fenced & has a covered back patio. Priced at only $74,000.  Call today to view the interior!

The seller of this HUD home for sale may provide a closing cost credit of 3% to be included with the purchase of this home.

An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $74,000 while placing 3.5% down (4.5% interest rate—taxes and insurance(s) included) would be at or around $575.00  monthly—why rent?!?  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

Please visit https://trustidaho.com/search/#PropertyID=46259919 to view detailed information and additional photos of this HUD home for sale.

**INVESTORS—call me now if you’re sick and tired of your hard earned funds sitting in non-performing stocks or low interest bearing savings accounts.  The time is NOW to invest in real property that will obtain at least $650 per month in rental income (not to mention future pricing appreciation).

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  matt@trustidaho.com

Call today for additional information or to view the interior of this or alternate HUD  homes for sale!