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Boise Idaho Real Estate Blog

In Ada County, rental vacancy rates increased by 1 percent to 3.8 percent in the 2nd quarter of 2015.  In the second quarter of last year vacancies stood at 3.7 percent. Single family properties saw the greatest increase in vacancy rates from the last quarter. It’s important to keep in mind, single family vacancy rates are considerably lower than the 5.4 percent we saw in the second quarter of 2014.

Rental market trends for the first half of 2015 are showing multifamily and single family vacancies continue to increase. Rental rates increased slightly for single family homes, with an average of a $9 increase. There was an overall decrease of $31 in rental rates for multifamily homes. On the average, Ada County showed an $11 increase in rental rates over

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How to Choose a Realtor to Sell Your Home

So you’ve taken that job offer in another state, or perhaps you’ve simply outgrown your current home. You spent time personalizing and making the home yours and chances are, you remember the day you bought your property, signed all your documents and got your keys.

Depending on the circumstances, it can be an emotional time for someone to sell their home, but the time has come to put the property on the market. So the question is… how to choose a Realtor to sell my home?

Not only is it the home itself that sells the property but choosing the right listing agent to get the job done is of utmost importance. I can’t stress enough how the experience of selling your home can be the difference between night and day depending on whom you choose to sell

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You are now an expert on how to buy a house – you went to open houses, put in offers and found the home of your dreams! Fast forward to the closing, the end of the road of your home buying experience. Now you’ve found yourself in a conference room- pen in hand, ready to sign away. While the closing home timeline varies for every closing, most likely in the next couple of hours, you will officially be a homeowner!

What is a Home Closing? In simple terms, a closing is where the home purchase is finalized and ownership of a property is transferred from seller to buyer and made official with the county.

Things to Expect During the Closing Process

Your lender will send all the mortgage paperwork to the title company- who acts like an impartial 3rd

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Single family home sales in the Boise real estate market for the month of June totaled 568. This is a 12.5% increase in Boise home prices, versus the 454 homes sold in June of 2014. Median sales price for June was $218,750 which is a 10.76% increase from last year at $203,250. The median price per square foot for a single family home was $128.

Median days on market is still very low at only 13 days however this is an increase from May which only saw 8 days on market. This time last year, average days on market was just 16 days. Right now in Boise we currently have 2.05 months of inventory available. This is a decrease from the 2.43 months we had last month.

New homes sold in Boise totaled 57 units. This was five more units than this time last year

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How To Buy A House When You Have Never Done It Before

It’s taken some deep soul searching, but you’ve finally come to the conclusion that you’re tired of giving a large sum of money to your landlord every month and not having anything to show in return. Congratulations- you’re on your way to becoming a homeowner!

Now the question remains, how do I get started? Maybe you’ve poked around at what’s for sale on the internet and have seen homes that you think would be a good fit, but where to begin? While there’s tons of information about how to get started on your new home search I’m going to break it down for you in 6 easy steps to help you on your way from becoming a first time home buyer.

Ask yourself, “what is owning my own home worth?”

Meet with a Real Estate Expert

Not to toot my own horn,

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Ten Most Common Home Inspection Items

As life events go a Home Inspection, whether buying or selling a house, can be one of the more stressful ones. No matter where you’re at in the process, as a buyer- once you’ve written your offer or as a seller once you’ve received an offer the next step is for the home to be inspected.

For home sellers- it’s not required, but suggested you have a pre-listing home inspection done prior to listing your home for sale. A prelist inspection of a home can provide peace of mind knowing that any unknown issues could come up makes for a smooth transaction.

No matter how long you’ve lived in your home, you may have items that should be repaired prior to listing your home. Not only may it come up during a buyer’s home inspection but certain repairs may

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Here are the latest updates from your Boise Real Estate Center for May 2015. A look at Ada county stats:

  • 901 single-family homes sold, up 14.5% year-over-year
  • Distressed properties (REOs and short sales) only accounted for 3% of the homes sold, down 50% compared to last year at this time
  • The Median Sales Price was $229,000, up 9.6% year-over-year
  • Available inventory was at 2.8 months, a decrease of 9.7% year-over-year (again, new construction supply was at 5.9 months, while the supply of existing homes was at 2.2 months)
  • Days on market was at 49, which was 2 days longer than last year, due to an increase in new construction market time, at 92 days in May 2015 compared to 76 days in May 2014

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The Annual Spring Boise Parade of Homes was recently held in Ada county. Throughout the two week parade, I had the opportunity to tour over 20 of these homes including several new construction homes that were not formally in the parade. A majority of these homes were located in Meridian and Eagle, Idaho with a few extending out to Southeast Boise. I look forward to this event every year, not because I have a chance to tour some of the newest construction available in the Boise market but I get to see firsthand what’s up and coming in regards to Boise interior design and décor.

One of the more notable items this year were wet bars located in the master bedrooms, yes you read that right. Wet Bars. Complete with small sinks, refrigerators and espresso

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The Changing Face of Downtown Boise

There’s been exciting news recently about new real estate being built in Downtown Boise. Local officials have expressed the need for both lodging options as well as the need to meet the demand for additional residential units. These new projects range from boutique hotels, condos to work live concept units. Here’s what’s going up in Downtown Boise.

Linen District Apartments - Location, Corner of 14th St and Idaho St. Currently two separate developers are submitting plans to build on the current site of the Watercooler. One project calls for a five-story building with 50 units comprised of one and two bedroom apartments. The other plan proposes 39 units including one and two bedroom apartments and includes live-work apartments.

Pennbridge Hotel -

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In Ada County we had a total of 803 units sold vs 695 in March. Of those 803 units only 5% were distressed sales (bank owned or short sale properties). Average days on market for these properties were 47 days. Days on market for inventory in the $160,000-$200,000 range was just 14 days. This price bracket also had the highest number of total units sold at 199 units.

The median sales price for homes in Ada County in April was $216,200. This number is down from March at $222,500. Inventory is still hovering at 3.1 months overall however for properties priced in the $120,000-$160,000 range was just 1.3 months’ supply.

For new construction, popular price points continue to be in the $250,000-$400,000 range. Currently in Ada County we have 6.6 months’

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