In the Boise, Idaho real estate market, we Realtors® are often blamed for prices. Buyers blame us when they’re too high, and sellers blame us when they aren’t high enough!I can't win !!   Q: Who really establishes the value of a home? A: The market does! Real estate prices are a simple equation of supply and demand. Too much supply and not enough demand = lower prices. Too much demand and not enough supply = higher prices. Remember: There is no established value until money changes hands ! 07/30/2007

Here’s a snapshot of June's real estate activity for Ada County: Available Homes # Available: 4,968Average Asking Price: $381,880Median Asking Price: $298,990Pending Sales# Pending:  831Average Asking Price: $324,343Median Asking Price: $255,190Closed Sales – June 2006 # Closed:  1,163Average Sales Price: $278,073Median Sales Price: $241,145Closed Sales – June 2007 # Closed: 726% Change: -37.6%Average Sales Price: $282,483% Change: + 1.6%Median Sales Price: $238,900% Change: - .9%Data taken from Intermountain MLS and pertains to single-family residences on lot or acreage.  Data does not include condominiums or townhomes. 07/30/2007

77% of all home buyers use the internet to find their next home, according to a survey by The National Association of Realtors®, yet many agents resist using technology to market their listings. Despite that compelling fact, 35% of all Realtors® don’t even have a website! With most buyers using the internet to find their next home, you’re missing out if you list your home with a Realtor® who’s afraid of technology! How can you tell if a Realtor® is tech-savvy? Here are some things to check on when selecting your listing agent: Does The Agent Have Their Own Internet Domain? If they do, their e-mail address will be something like Phil@PhilHoover.com, not susieq123@incrediblycheapemail.com. Serious agents have their own domains, hosted by commercial hosting providers to ensure that they r... 07/30/2007

Micron, Idaho’s largest employer, has quietly laid off 875 of its 11,000 employees in Boise within the past couple of weeks. The company announced that it would reduce staff recently after reporting a $225 million loss in its most recent quarter, and has also said that further cuts are forthcoming. A million here and a million there starts to add up after awhile.The rumor mill had been working overtime as word of the layoffs spread and the company refused to level with either the Idaho Statesman or the State of Idaho about the depth of the layoffs. They company finally broke its silence a few days ago when it filed a required government report and sent a letter to the state government detailing its plans for the future.How will this affect the Boise real estate market? No one really kn... 07/30/2007

Despite all the real estate cheerleading, it’s no secret that the Boise real estate market has softened considerably in the past year or so. If you’re thinking of selling, your most critical decision will be establishing an asking price for your home. The usual method of pricing a new listing is to compare it to recent sales of comparable properties (we call 'em "comps"). In other words, you figure out what Bob down the street got for his identical home, then add $10,000 because your home has purple flocked wallpaper and his doesn’t! That strategy may not work in a slower market for a variety of reasons, including: Buyers may (reasonably) expect to get a better deal than the last comparable home that sold. The last comparable home that sold may have included seller-paid closing costs o... 07/30/2007

I received an e-mail from the casting director of HGTV’s “Flip This House!” show a couple of weeks ago, asking if I would help them put together a show based upon flipping a house in Boise. He had seen my www.BoiseBlog.com and thought I would be the perfect guy to help them with their Boise flipping episode. I was pleased that they had discovered my Boise Blog, but it didn't take me long to decline their offer. Here’s why: The get-rich-quick flippers who flooded into our market in 2005 ran up the price of a typical 1,400 sq. ft. rancher from $135,000 to around $200,000. I simply do not want to encourage another wave of opportunistic flippers to enter our market and further distort it. Then there's the fact that it's next to impossible to make a quick profit by flipping house in a soft ... 07/30/2007

It was announced recently The Kissler Family Foundation made a $2 million dollar gift to the Boise State University to be used in the construction of a new building that will be built and designed to house the Department of Nursing and the Student Health Wellness and Counseling Center.Saint Alphonsus Regional Medical Center and St. Luke's Health System previously donated $1 million each for the same programs per Boise State officials.A new 4-story, 25 million building is planned to be completed in time fo the fall 2009 semester.  The new facility will provide additional classrooms and laboratories for those students enrolled in the Boise State Nursing program.  This will allow the university to admit more nursing students and offer a state of the art building and equipment. Boise State ... 07/25/2007

The Idaho Business Review anounced this week that PacificSource Health Plans which is based out of Eugine, Oregon opened an office in Boise, Idaho the past April, 2007.  This new store opening in Boise represents PacificSource's first expansion outside of Oregon in it's 74-year history.CEO Ken Provencher was quoted as saying the Boise, Idaho market looked like the kind of market where PacificSource could be successful.  PacificSource will be offering group Health coverage in Boise and plan on offering individual coverage soon.PacificSource was founded in 1933 by a group of physicians at Pacific Christian Hospital as a not-for-profit organization to provide health insurance for local businesses and their employess.Provencher was quoted as saying that whatever PacificSource has done has b... 07/19/2007

Regularly I'm asked by clients what I think about he market.  It's a good question and there are many ways to answer.  I could give the sometimes overly optimistic Realtor view and quote the National Association of Realtors statistics stating that the market should be turning around by the year end.  I could take the medias side and spread the doom and gloom adding fuel to the fire of fear and pandemonium they are always inclined to spread (hey it sells papers and even better ad space).  So what's the real answer?  It depends; first you need to answer a few questions for yourself.  Most important is why do you need to buy or sell.  That's going to establish your motivation.  Second, you need to know when ask when you need to buy or sell.  If the answer is somewhere in between now and ye... 07/06/2007

 The rate of obesity in the United States and Canada has grown to an all time high.  Researchers are finding more and more cases of obese individuals literally hiding out in their homes from fear of publicized scrutiny over their situation. Personally, I struggle with my compassion for these individuals and my frustration towards their situation.  On one hand I can not understand how someone would allow themselves to grow to the size you will see in the picture below; on the other hand, I understand often times it is a lack of self-esteem and depression which therefore allows obesity to become a condition of the mind which filters down to the body.  Please share your thoughts? Here is DogFlu.Ca's reprot...   It is being reported that paramedics in Calgary are now driving the first ambul... 06/25/2007

I received a request from Dave in the comments section yesterday, asking how home sales were in Boise's North End this year compared to last year.  Interesting request, so I took a couple minutes this morning to check on sales figures.  My "sense" was that sales were still pretty good over there.So, to check my sense against what's really happening, I used a broad search for closed sales in area 0100 - North Boise.  I'm sure Dave means the "classic" North End, the area north of State Street, around Harrison Blvd and the Hyde Park area.  I could have done a specific map area search, but my definition of the North End might not correspond to my commenter's definition, so for now I've stayed basic.  There are some folks trying to "expand" the North End in order to grab some of the cache fo... 06/22/2007

The current 30 year fixed mortgage rate is at a shocking 6.74%, which is putting a damper on even the most qualified borrowers.  As subprime borrowers deal with stronger standards, the epidemic of rising mortgage rates is only pushing subprime borrowers further and further away from the home owning and property flipping dream.  Please tell me what you think? Here is Bloombergs Kathleen M. Howley's report...http://www.bloomberg.com/apps/news?pid=20601206&sid=aPBlCjRp8aOQ&refer=realestateThe jump in 30-year mortgage rates by more than a half a percentage point to 6.74 percent in the past five weeks is putting a crimp on borrowers with the best credit just as a crackdown in subprime lending standards limits the pool of qualified buyers. The national median home price is poised for its fir... 06/20/2007

Imagine you are living in a condominium or townhome and you have smokers living around you and the smoke is such a bother and you fear future health risks to you and/or your children.  You could take matters to court and opt to legally amend your decoration and put a ban on smoking in the entire building or living areas. Here is the full Story from "Realty Times" http://realtytimes.com/rtcpages/20070618_smokingban.htm   In November of 2006, Jefferson County of Colorado, District Court Judge Oeffler, upheld such an amendment. In a four unit condominium, Colleen Christiansen and her husband Roger Sauve owned unit 2. They were smokers. Two other unit owners (or their tenants) did not smoke, and the fourth owner admitted that she did smoke cigarettes, but only outside of the building. The ... 06/18/2007

The official start of summer is here... rafting season on the Boise River is officially open.One of the premier "things to do in Boise" in the summer months is to rent a raft and float the Boise River.  Last year we got a very late start due to high flows in the river from our wet spring.  This year though, with rainfall below normal, the river is flowing just about right for floaters.Begin at Barber Park, on the east side of town.  There you will find a large selection of tubes, floats, and rafts for rent.  You can also bring your own floats, and the park provides a number of free air stations to get you up and running.Take as long as you like to float the river back to downtown.  There are a number of rest stops along the way, or you can pull up to the shoreline (watch for private pro... 06/17/2007

Cameron Park Is A West Boise, Idaho Neighborhood See Home Facts Below.Idaho Builders - N/AHigh Home Price $392,000   Average $364,433   Low $334,900Meridian School DistrictGrade School - Pioneer Elementary SchoolJr. High - Lowell Scott Middle SchoolSr. High - Centennial High School Neighborhood Features: Quiet Neighborhood With Mature Landscaping. Close to Hewlett Packard (HP) Cottonwood Park (neighborhood backs up to it) Close to Charles F. McDevitt Sports Complex Close to shopping Location: N. Eagle Rd. - Between W. McMillan Rd. and Ustick Rd.Map to Cameron Park Subdivision in West Boise Boise, ID Homes For Sale In Cameron Park ; 06/11/2007

Brookdale Meadows Is A West Boise, Idaho Neighborhood See Home Facts Below.Idaho Builders - Steve Caven Construction, Homco, Nelson Homes, RF Custom Homes, Emmet Price & Sons, Crestwood BuildersHigh Home Price $699,900   Average $351,966   Low $314,900Meridian School DistrictGrade School - Pioneer Elementary SchoolJr. High - Lowell Scott Middle SchoolSr. High - Centennial High School Close to: Hewlett Packard (HP) West YMCA Hobble Creek Park Charles F. McDevitt Sports ComplexLocation: Off W. McMillan Rd. - Between N. Cloverdale Rd. and N. Eagle Rd.Map to Brookdale Meadows in West Boise IdahoBoise, ID Homes For Sale In Brookdale Meadows; 06/06/2007

Austin Creek is a medium sized residential community west of Downtown Boise and south of Eagle, near the city limits with Meridian. It is in the Meridian School district and is served by Discovery Elementary, Sawtooth Middle School, and Eagle High School.  It is close and convenient to these schools, as well as to shopping, and the Charles F McDevitt Sports Complex.It was developed in the late 1990's and consists of single level and two story homes by a number of builders including Elite, Beachwood, Hallmark, Prestige, Dunstan, and Tahoe. Homes are 3 and 4 bedrooms, 2 and 3 baths, and range in size from 1200 to 1900 square feet.Prices in the last 6 months (since December of 2006) have held steady in the $180,000 to $234,000 range, and there are usually three to eight homes for sale.  Co... 06/04/2007

Bridgewalk Is A New South East Boise, Idaho Neighborhood See Home Facts Below. Idaho Home Builders - Studio LHigh  Home Price $525,000      Low $405,000      Average $426,800      Boise School District;Grade School - Liberty Elementary SchoolJr High - Les Boise Junior High SchoolSr High - Timberline High SchoolFeatures:* Water Feature Running Through It* High End Finishes - Hardwood, Granite, Beautiful KitchensLocation: Off E. Boise Ave - Heading East Past Gekeler Ln.Map to Bridgewalk Neighborhood in SE Boise, IDSE Boise Homes For Sale In Bridgewalk Subdivision 05/30/2007

Bridgeport Is A Boise, Idaho Neighborhood. Idaho New Home Builders - HBR Pomberenke Construction, Burns Construction Co, Proline Homes,Borup, mountain west homes, Crestwood, Hallmark Homes Boise School District;Grade School - AmityJr. High - West Boise JrSr High - Borah High Home Price $474,00   Average $269,900  Low $338,840 Location: Off W. Amity Rd. - Between S. Maplegorve Rd, and W. Amity St. Map to Bridgeport Subdivision in Boise IdahoBoise, ID Homes For Sale In Bridgeport 05/30/2007

Brecken Ridge Is A South East Boise, Idaho Neighborhood. Idaho Home Builders - Palmer, BlacksteadFeatures: Large Community Park - Cypress Park High Home Price $499,850   Average $233,963   Low $159,900Boise School District;Grade School - LibertyJr High - Les Bois Junior High SchoolSr High - Timberline High SchoolLocation: Off E. Amity Rd. - Between E. Boise Ave and S. Federal WayMap to Breckenridge Subdivision in Boise, IdahoSouth East Boise Homes For Sale In Breckenridge;   05/30/2007