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!

July 29, 2021

Southeast Boise Home For Sale - 283 E Iowa Dr. OPEN HOUSE Saturday July 31st & Sunday August 1st from 1:00 PM - 3:00 PM


Take a guided virtual or in-person tour of our brand-new listing today!  

283 E Iowa Dr

5 Bed | 3.5 Bath | 2 car garage | 3,046 SqFt | Southeast Boise

 

Ideally located just min from the greenbelt, BSU, foothill trails & downtown, this sprawling home perfectly blends a soothing, neutral palette with striking modern touches. Soaring entry & ample natural light flow to well-appointed kitchen boasting newer stainless silver appliances, granite counters & direct access to oversized patio with gas hookup, designed for seamless indoor/outdoor entertaining. Master with ensuite showcases dual vanities, relaxing jetted tub & his/hers closets. Expansive lower level makes the perfect guest space & media room.

>> Click HERE for more property info

 

July 28, 2021

Sellers Are Ready To Enter the Housing Market

 

Sellers Are Ready To Enter the Housing Market | MyKCM

One of the biggest questions in real estate today is, “When will sellers return to the housing market?” An ongoing shortage of home supply has created a hyper-competitive environment for hopeful buyers, leading to the ultimate sellers’ market. However, as the economy continues to improve and more people get vaccinated, more sellers may finally be in sight.

The Home Purchase Sentiment Index (HPSI) by Fannie Mae recently noted the percentage of consumer respondents who say it’s a good time to sell a home increased from 61% to 67%. Doug Duncan, Senior Vice President and Chief Economist at Fannie Maeindicates:

Consumer positivity regarding home-selling conditions nearly matched its all-time high.” (See graph below):

Sellers Are Ready To Enter the Housing Market | MyKCMFannie Mae isn’t the only expert group noticing a rise in the percentage of people thinking about selling. George Ratiu, Senior Economist at realtor.comshares:

“The results of a realtor.com survey . . . showed that one-in-ten homeowners plans to sell this year, with 63 percent of those, looking to list in the next 6 months. Just as encouragingly, close to two-thirds of sellers plan to sell their homes at prices under $350,000, which would offer a tremendous boost to affordable housing for first-time buyers.”

Bottom Line

If you’re considering selling your house, don’t wait for more competition to pop up in your neighborhood. Let’s connect today to explore the benefits of selling your house now before more homes come to the market.

July 26, 2021

The Ultimate Guide to Living In And Moving To Eagle, Idaho [2021 Edition]

Ultimate Guide To Living in Eagle, Idaho

Moving to Eagle, Idaho offers a laid-back small-town atmosphere, a gorgeous natural setting, and easy access to all the big city amenities of Boise. With its thriving economy and its superior schools, Eagle has everything you need to live the good life. In this guide, you will discover Eagle’s history, its best neighborhoods, and a variety of things to see and do in the area. 

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Posted in Buying a Home
July 22, 2021

Charming Harris Ranch Home For Sale - OPEN HOUSE | Saturday, July 24th & Sunday, July 25th from 1-3PM


Take a guided virtual or in-person tour of our brand-new listing today!  

2942 S Brookridge Way
3 Bed | 2.5 Bath | 3 car garage | 2,410 SqFt | Harris Ranch

 

Immaculate and beautifully maintained single-level home in coveted Harris Ranch with upstairs bonus room showcases designer details at every turn, from the gorgeous hardwood floors throughout to the open gourmet kitchen boasting gleaming granite, contrasting cabinets, large pantry & professional grade range. Bright & airy main-level master retreat features exquisite walk in shower, soaker tub, heated tile floor & dual sinks. Upstairs bonus room with half bath makes for an ideal media room or home office.

 

>> Click HERE for more property info

 

July 22, 2021

The Ultimate Guide to Living In And Moving To Meridian, Idaho [2021 Edition]

Ultimate Guide to Living in Meridian, Idaho

As of 2019, Meridian, Idaho ranked among the top ten places to live in the U.S., and to those who know that city, it is not surprising at all. At just over 129,000 inhabitants, Meridian represents the sweet spot between big-city bustle and small-town boredom. With its semi-arid climate, Meridian is a haven for people who suffer in humid regions. Yet, unlike in many southwestern cities, Meridian residents enjoy distinct seasons throughout the year. With plenty to see, do, and enjoy, living in Meridian may just be your dream come true.

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Posted in Buying a Home
July 21, 2021

Should I Move or Refinance?

 

Should I Move or Refinance? | MyKCM

The level of equity homeowners have is at an all-time high. According to the U.S. Censusover 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too. Every time real estate values increase, homeowners get a dollar-for-dollar gain in their home equity.

According to the first-quarter 2021 U.S. Home Equity Report from ATTOM Data Solutions:

“17.8 million residential properties in the United States were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.

The count of equity-rich properties in the first quarter of 2021 represented 31.9 percent, or about one in three, of the 55.8 million mortgaged homes in the United States. That was up from 30.2 percent in the fourth quarter of 2020, 28.3 percent in the third quarter and 26.5 percent in the first quarter of 2020.”

This surge in home equity has given most homeowners the opportunity to use that equity in one of two ways:

  1. Refinance to cash out some of the equity or lower their current payment
  2. Move to a home that better fits their current needs

Let’s break down the possibilities.

1. Refinance

An abundance of equity and record-low mortgage rates can make refinancing a home very easy. Some homeowners choose to refinance so they can lower their payments. Others convert a portion of the equity to cash while keeping their monthly payment the same.

There are many homeowners who could take advantage of lower rates and higher levels of equity, but they haven’t yet. According to an Economic & Housing Research Note from earlier this month, there were over five million homeowners with a loan funded by Freddie Mac who would benefit by refinancing their loan. As of January 2021, there were:

  • 452,122 loans with an average mortgage rate of 6.17%
  • 1,027,834 loans with an average mortgage rate of 4.39%
  • 3,687,780 loans with an average mortgage rate of 4.21%

With mortgage rates currently hovering around 3%, any of these homeowners would benefit from refinancing. They could lower their payments by hundreds of dollars per month or cash out large sums of equity while keeping their monthly payment the same.

Example:

If a homeowner has a $200,000 fixed-rate mortgage with a 6% interest rate and refinances that loan to a 3% interest rate, their monthly mortgage payment (principal and interest) will go from $1,199 per month to $843 per month – a savings of $356 a month, or $4,272 each year.

On the other hand, if they keep their mortgage payment the same, they could cash out a significant amount of their equity.

2. Move into your dream home

The past year prompted many households to redefine what a dream home really means, and it’s something different to everyone. Those who have a high mortgage rate could use their equity as a down payment and perhaps buy their next home without significantly raising their mortgage payment.

Example:

Suppose a person bought a house for $216,000 at the height of the market in 2006. (The median home price in May of 2006). If they put 10% down and took out a mortgage of $194,400 at 6.41% (the average rate in 2006), the monthly mortgage payment (principal and interest) would have been $1,217.

According to the National Association of Realtors (NAR), a typical single-family home has grown in value by approximately $150,000 over the last fifteen years. That means the $216,000 house would be worth about $366,000 today.

After deducting selling expenses, they would be left with about $130,000 ($150,000 minus approximately $20,000 in selling expenses).

A seller could take that equity and use it as a down payment on a new house. Let’s assume they purchased a home for $450,000 (roughly $80,000 more than the value of their current home). If they put the $130,000 down, they could take out a mortgage of $320,000 with a 3% interest rate. The monthly mortgage payment (principal and interest) would be $1,349. Therefore, they could buy a home worth $80,000 more than the one they have today and only spend an extra $132 per month.

Bottom Line

Whether you’re refinancing your house or moving to a new home, your current mortgage rate and your level of equity are crucial in your decision-making process. Look at your mortgage documentation to find out your interest rate, and then let’s connect to determine the potential equity in your home. You may be surprised by the opportunities you have.

July 20, 2021

Why This Isn’t Your Typical Summer Housing Market

 

Why This Isn’t Your Typical Summer Housing Market | MyKCM

In real estate, it’s normal to see ebbs and flows in the market. Typically, the summer months are slower-paced than the traditionally busy spring. But this isn’t a typical summer. As the economy rebounds and life is returning to normal, the real estate market is expected to have an unusually strong summer season.

Here’s how this summer is stacking up against the norm and what it means for you.Why This Isn’t Your Typical Summer Housing Market | MyKCM

Inventory is increasing.

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), inventory levels have been rising since February of this year. Looking at the graph below, there’s a clear upward trend, as shown in the green bars. Currently, there’s roughly a 2.5 months’ supply of homes for sale. And while inventory is trending up as more houses are coming to the market, it’s still much lower than several of the previous summers, as the orange bars indicate.Why This Isn’t Your Typical Summer Housing Market | MyKCMIf you’re looking to buy, some relief is on the way in the form of more homes coming to the market. Just remember, we still have less inventory than the norm, so be patient in your search.

If you’re thinking of selling, now is the time. Work with your agent to list your house before it has more competition on the market.

Time on the market is still shorter than normal.

Unlike the typical summer trend, time on the market is moving at the fastest speed we’ve seen since NAR started collecting this survey-based information in 2011. The most recent Realtors Confidence Index shows that the average home is on the market for just 17 days, as shown in green in the graph below. This means houses are selling at a much faster pace than a typical summer, which the orange bars represent.Why This Isn’t Your Typical Summer Housing Market | MyKCMIf you’re looking to buy, this means you need to be prepared to move fast. Brace for a quick pace and rely on your agent to stay in the know on the available homes in your area.

If you’re thinking of selling, data shows your house will likely sell quickly. If you’re worried about where you’ll go once your house sells, consider a newly built home as a good way to move up.

Price appreciation is still rising.

The last big factor making this an unusually strong market this summer is home price appreciation. According to the State House Price Index from the Federal Housing Finance Agency (FHFA), we’re currently experiencing double-digit house price appreciation and have an average of 12.6% appreciation across the country. The graph below uses data from NAR to show a more granular view of how prices have changed month-to-month over the past few years. The green bars show the current price appreciation we’re experiencing today. Our current levels are well above what we’ve seen in recent summers, shown by the orange bars.Why This Isn’t Your Typical Summer Housing Market | MyKCMIf you’re looking to buy, competition and bidding wars are driving prices up. Getting pre-approved can show the seller you’re serious and help you know what you can afford. Once you do, work with your agent to make a strong offer that stands out.

If you’re thinking of selling, seize this opportunity to use your additional equity from this price appreciation to power your next move.

Bottom Line

This isn’t a typical summer. Whether you’re buying or selling, let’s connect to talk about how you can capitalize on today’s market conditions to sell your house or find your dream home.

July 16, 2021

Mill Creek Home For Sale - 9429 W Pebblestream Dr.


Take a guided virtual or in-person tour of our brand-new listing today!  

 

9429 W Pebblestream Dr.

4 Bed | 2.5 Bath | 3 car garage | 2,271 SqFt

Classic yet modern, this immaculate home shows pride of ownership with sleek updates inside & out. Soaring foyer opens to a formal dining room & two living spaces for flexible entertaining options. Bright & airy remodeled kit. boasts gleaming granite & trendy grey cabs with direct access to expansive backyard for seamless indoor/outdoor entertaining. Light-filled master retreat featuring ensuite with dual sinks, soaker tub & large walk-in closet. Oversized 3 car garage with built in storage & plenty of space for all your toys!

 

>> Click HERE for more property info

 

July 16, 2021

Luxury East Boise Home For Sale - OPEN HOUSE | Saturday, July 17th & Sunday, July 18th from 1-3PM


Take a guided virtual or in-person tour of our brand-new listing today!  

 

402 N. Mobley  Drive

4 Bed | 3 Bath | 2 car garage | 2,811 SqFt | east boise

 

Stunning mid-century masterpiece sits on a near 1/2 acre lot located in Boise's coveted East End just steps from the river, green belt, hiking and biking trails and much more! High-end remodel perfectly blends period character with modern styling. Captivating, light filled great room with warm wood accents flowing seamlessly to equally impressive chef's kit. Expansive covered patio & sprawling landscape create the idyllic backdrop for entertaining family/friends! Included geothermal heat maximizes energy efficiency.

 

>> Click HERE for more property info

 

July 16, 2021

WIN!