Boise Real Estate Information and News

You’ll find our blog to be a wealth of information, covering everything from local market statistics, new home listings,  home values, real estate market happenings  home design, and community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Sept. 21, 2018

INCREDIBLE CANYON RIM VIEWS!

Situated to fully enjoy the spectacular Canyon view, this pristine residence offers luxury living in an incredible foothills setting. Perfect for indoor & outdoor entertaining tucked away in a quiet, private neighborhood. The location provides quick access to foothills trails & outdoor recreation. Custom finishes & timeless craftsmanship throughout. The wall of windows from the great room provides abundant light & an unparalleled foothills view. Grand interior built to enjoy the spectacular surroundings.

 

Click address for link to more info:

6624 E Escarpment CT, Boise, ID 83716

Sept. 18, 2018

4 REAL Reasons Why We Buy A Home!

4 REAL Reasons Why We Buy A Home! | MyKCM

 

We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones.

No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

1. Owning your home offers you the stability to start and raise a family

Between the best neighborhoods and the best school districts, even buyers without children at the time of purchase may have these things in mind as major reasons for choosing the locations of the homes that they purchase.

2. There’s no place like home

Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day!

3. You have more space for you and your family

Whether your family is expanding, an older family member is moving in, or you need to have a large backyard for your pets, you can take this all into consideration when buying your dream home!

4. You have control over renovations, updates, and style

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit in your apartment building? Or maybe you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t do just that in your own home?

Bottom Line

Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.

 

Posted in Buying a home
Sept. 14, 2018

OPEN HOUSE! DESIRABLE RIVER HEIGHTS COMMUNITY!

 

Don't miss this opportunity! Desirable Single Level in River Heights 

Incredible single level w/ upper bonus room situated to fully enjoy the Boise foothills! The stunning natural view is mirrored by the elaborate landscaping in the fully fenced backyard complete w/ impressive boulder wall, water feature & lighting. Fabulous interior boasts a spacious main level den with closet. Sizable gourmet kitchen features a gorgeous center island, custom cabinetry, top-of-the-line appliances including built-in refrigerator. Peaceful master suite w/ gas fireplace & tranquil views.

 

Click address for link to more info:

4330 S River Falls Ave, Boise, ID 83716

 

Sept. 11, 2018

You DO NOT Need 20% Down to Buy Your Home NOW!

You DO NOT Need 20% Down to Buy Your Home NOW! | MyKCM

 

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that they cannot afford them.

This brings us to two major misconceptions that we want to address today.

1. Down Payment

A recent survey by Laurel Road, the National Online Lender and FDIC-Insured Bank, revealed that consumers overestimate the down payment funds needed to qualify for a home loan.

According to the survey, 53% of Americans who plan to buy or have already bought a home admit to their concerns about their ability to afford a home in the current market. In addition, 46% are currently unfamiliar with alternative down payment options, and 46% of millennials do not feel confident that they could currently afford a 20% down payment.

What these people don’t realize, however, is that there are many loans written with down payments of 3% or less.

Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO®Scores

An Ipsos survey revealed that 62% of respondents believe they need excellent credit to buy a home, with 43% thinking a “good credit score” is over 780. In actuality, the average FICO® scores for approved conventional and FHA mortgages are much lower.

The average conventional loan closed in May had a credit score of 753, while FHA mortgages closed with an average score of 676. The average across all loans closed in May was 724. The chart below shows the distribution of FICO® Scores for all loans approved in May.

You DO NOT Need 20% Down to Buy Your Home NOW! | MyKCM

Bottom Line

If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but you are not sure if you are ‘able’ to, let’s sit down to help you understand your true options today.

 

Sept. 7, 2018

OPEN HOUSE! ICONIC RIVER FRONT PROPERTY.

 

COME STOP BY SUNDAY, SEPTEMBER 9TH FROM 1:00 TO 3:00 PM.

Luxurious river front home in the pristine Nature's Wood Duck gated community. Enjoy a fantastic natural indoor/outdoor setting w/ an iconic view of the Boise River & foothills. High end updates & extraordinary craftsmanship throughout. Abundant floor-to-ceiling windows perfectly frame the stunning surroundings & fill the home w/ natural light. Spa-like master bath retreat with ancient riverbed granite throughout, heated floors & towel rack, 2 person jetted spa tub w/ champagne bubbles & a stunning view!

 

 

Click address for link to more info:

3254 E RIVERNEST LN

BOISE, ID

 

 

Sept. 4, 2018

Selling Your Home? Here’s 2 Ways to Get the Best Price!

Selling Your Home? Here’s 2 Ways to Get the Best Price! | MyKCM

 

Every homeowner wants to make sure that they maximize their financial reward when selling their home, but how do you guarantee that you receive the maximum value for your house?

Here are two ways to ensure that you get the highest price possible.

1. Price it a Little Low

This may seem counterintuitive, but let’s take a look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation when, in actuality, it just dramatically lessens the demand for their houses (see chart below).

Selling Your Home? Here’s 2 Ways to Get the Best Price! | MyKCM

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so that demand for the home is maximized. By doing so, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive as the seller may think that he or she will make more money by avoiding a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by real estate professionals.

study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

The results of the study showed that the differential in selling prices for FSBOs, when compared to MLS sales of similar properties, is about 5.5%. Sales in 2017 suggest the average sales price was near 6% lower for FSBO sales of similar properties.

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

 

Aug. 28, 2018

Top 4 Home Renovations for Max ROI

Top 4 Home Renovations for Max ROI [INFOGRAPHIC] | MyKCM

 

Some Home Renovation Highlights

Some Highlights:

  • Whether you are selling your home, just purchased your first home or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI).
  • Minor bathroom renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.
  • Upgrading your landscaping or curb appeal helps get buyers in the door. These upgrades rank as the 2nd and 4th renovations for returns on investment.

 

Posted in Home design
Aug. 21, 2018

Why Should You Use A Real Estate Professional to Sell Your Home?

Why Should You Use A Professional to Sell Your Home? | MyKCM

 

When homeowners decide to sell their houses, they obviously want to get the best possible price for their home with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.

In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed a buyer’s behavior during the home buying process. According to the National Association of Realtors’ 2018 Home Buyer & Seller Generational Trends Report, the first step that “42% of recent buyers took in the home buying process was to look online at properties for sale.”

However, the report also revealed that 94% of buyers who used the internet when searching for homes ultimately purchased their homes through either a real estate agent/broker or from a builder or builder’s agent. Only 2% of buyers purchased their homes directly from a seller whom they didn’t know.

Buyers search for a home online but then depend on an agent to find the home they will buy (52%), to negotiate the terms of the sale (47%) & price (38%), or to help understand the process (60%).

The plethora of information now available has resulted in an increase in the percentage of buyers who reach out to real estate professionals to “connect the dots.” This is obvious, as the percentage of overall buyers who have used agents to buy their homes has steadily increased from 69% in 2001.

Bottom Line

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.

 

Aug. 17, 2018

TWO MUST SEE OPEN HOUSES

HARD TO FIND RAINIER MODEL WITH BONUS

 

 

COME STOP BY SUNDAY 1-3 PM

Highly sought-after Rainier model w/ bonus in Dallas Harris Estates! This stylish like-new home has it all! Desirable open floor plan, generous bedrooms, large windows w/plantation shutters & a spacious bonus room featuring a built-in Murphy bed. Beautiful wood floors span throughout the vaulted entryway, gourmet kitchen & sizable living room. Incredible main-level master suite boasts sleek granite dual vanities, gorgeous tile flooring, huge stand-alone shower, spa-like tub & large walk-in closet. High-end epoxy flooring in the large 3 car garage, a private covered patio & low maintenance yard. Perfect location nearby community swimming pool, foothill trails, Boise River, Lucky Peak, Bown Crossing & more!

 

Click address for link to more info:

2956 S Brookridge Way

Boise, ID 83716

 

BEAUTIFULLY UPDATE MID-CENTURY HOME

 

 

COME STOP BY SUNDAY 1-3 PM

Beautifully updated mid-century home in a great location with no HOA's! Fabulous single level with the perfect mix of original charm & contemporary flare. Timeless floor-to-ceiling brick fireplace anchors the light-filled family room with hardwood underfoot. Fully renovated kitchen with stylish cabinetry, sleek countertops, open shelving, custom ship-lap & black stainless steel appliances. Fenced backyard w/ patio, updated landscaping, mature shade tree, private crop of apricots & plums, shed & fire pit. Newer furnace, water heater, water softener, air conditioner, vinyl windows, interior/exterior paint, updated bathrooms & a brand new roof! No detail forgotten during the incredible renovation of this charming West Boise home! 

Click address for link to more info:

7001 W Northview St.

Boise, ID 83704

 

Aug. 14, 2018

Homes More Affordable Today than 1985-2000

Homes More Affordable Today than 1985-2000 | MyKCM

 

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.

However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and the interest rate on the mortgage used to purchase it.

Today, mortgage interest rates stand at about 4.5%. The average annual mortgage interest rate from 1985 to 2000 was almost double that number, at 8.92%. When comparing affordability of homeownership over the decades, we must also realize that incomes have increased.

This is why most indexes use the percentage of median income required to make monthly mortgage payments on a typical home as the point of comparison.

Zillow recently released a report comparing home affordability over the decades using this formula. The report revealed that, though homes are less affordable this year than last year, they are more affordable today (17.1%) than they were between 1985-2000 (21%). Additionally, homes are more affordable now than at the peak of the housing bubble in 2006 (25.4%). Here is a chart of these findings:

Homes More Affordable Today than 1985-2000 | MyKCM

What will happen when mortgage interest rates rise?

Most experts think that the mortgage interest rate will increase to about 5% by year’s end. How will that impact affordability? Zillow also covered this in their report:

Homes More Affordable Today than 1985-2000 | MyKCM

Rates would need to approach 6% before homes became less affordable than they had been historically.

Bottom Line

Though homes are less affordable today than they were last year, they are still a great purchase while interest rates are below the 6% mark.