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!

Dec. 11, 2018

Barber Park - Boise’s Most Versatile Park

Boise is a city that loves the great outdoors. In Boise, there are thousands of miles of leisure paths, the Boise River, ponds and mini-lakes, and dozens of amazing parks. One park though that holds a special place in the hearts of all Boiseans (especially Southeast Boise residents) would have to be Barber Park. Hardly a season passes by where it seems like Barber Park is not well-loved and well-attended. But why is that? What is it about Barber Park that has people so enamored?

 

The answer is its versatility. Barber Park is easily Boise’s most versatile park. While Julia Davis has the Boise Rose Garden and Kathryn Albertsons has flora that could make a florist swoon, Barber Park continues to claim the unofficial title of the most versatile park in the city. Barber has a vast amount of things for you to do there, but, so you can get an idea of what to expect on your next visit, here are just a few of the awesome things that are available to you:

 

Barber Park Amenities

 

Floating the Boise River

Easily the most well-known activity at Barber Park would be floating the Boise River. Barber Park is the place where nearly everyone launches their tubes to float down the several miles of water to Ann Morrison Park. It is a great summer day activity. Just be sure to be safe on the water and only float when the city declares the river open!

 

Barber Park Event Center

Another of the big draws to Barber Park is its stately event center. This place is beautiful. There are many people who rent this event center out for events both big and small including parties, receptions, and so much more. Be sure to check out the Barber Park website for rental application information, if you are interested.

 

Playground

If you want to enjoy a classic playground experience, then the playground at Barber Park is another draw. This playground is perfect for those who want to climb, jump, slide, and run around while they are at the park.

 

Basketball Court

Across from the playground is a concrete basketball court that a lot of visitors to the park enjoy. If you like basketball, or just need a large open place to play, then this court may be the place for you.

 

Open Fields

Between the basketball court and the playground, and beyond the two, is a large open grass field that a lot of visitors to Barber Park use for rest, relaxation, and recreation. It is also great for pets to enjoy if you find them itching to go to a place without fences.

 

Greenbelt

Another great part of Barber Park would have to be its quick access to the Boise Greenbelt. The Greenbelt, if you are unfamiliar, is a paved and unpaved trail that stretches from Lucky Peak reservoir, adjacent to southeast Boise neighborhoods like Harris Ranch and Warm Springs Mesa, and on to the border of Boise and Eagle.

 

Protected Forestry and Marshland

One of the most unique things about Barber Park is its acres of natural forest and marshland. This natural part of the park makes exploring a real adventure as you’ll feel like you are deep in the Boise National Forest with all the trees and wildlife. This area is large enough and natural enough that deer and other fauna from the foothills make their home here on occasion.

 

Picnic Areas

A great park tradition that a lot of people love to participate in at Barber Park is the humble picnic. There are few things that capture the quintessence of a park experience like a picnic. At Barber Park, there are picnic tables, barbeques, and a picnic pavilion for all to enjoy.

 

While there are still dozens of more things that you can do at Barber Park, these are some of the big ones that draw a lot of people there on a regular basis. If you want to learn more about Barber Park, check out the City’s website at https://adacounty.id.gov/Parks-Waterways/Barber-Park.

Posted in fun things to do
Dec. 7, 2018

Triple Open House Weekend!

We have 3 amazing open Treasure Valley houses this Sunday! All go from 1 PM to 3 PM. Come by and see what all these awesome homes have to offer!

1. 10362 W Lariat, Boise, ID 83714

2. 4057 W Lost Rapids, Meridian ID 83646

3. 1603 N 29th, Boise, ID 83703

Posted in Open Houses
Dec. 5, 2018

The Best and Worst Vistas in the Boise Area

There are few things as exciting and inspiring as finding yourself on the top of a mountain, hill or outcropping and seeing a beautiful view. They are natural wonders that continue to captivate the hearts and imaginations of many, year after year. Most of these vistas are gorgeous and getting to them is a great way to spend some free time. However, there are some vistas that may not necessarily be worth your time. Today we have collected a list of the best and worst vistas in the Boise area so you know where you should take your next adventure.


The Best Vistas in Boise


Let’s start with the best vistas. These amazing beauties are not in short supply here in the Boise area. In fact, there are several neighborhoods even that have been developed in and around them so that residents can experience their amazing views on a daily basis. But, without any further ado, here are the best vistas we could find in the Boise area:

Table Rock

Probably the most well-known vista you’ll hear about in the Boise area is Table Rock. Table Rock is a sandstone outcropping that protrudes from the Boise Foothills. This vista overlooks the entire valley; from its heights, you can see from Boise’s East End, through downtown Boise and all the way out to the Oregon border on a clear day.

One neighborhood that allows its residents quick trips to the top of Table Rock is the ever-popular Harris Ranch neighborhood. This neighborhood, located in Southeast Boise (SE Boise), is a great place for people who like to have easy access to the great outdoors like Table Rock.


Stack Rock

This is probably the hardest vista on this list to get to. It is a very long hike up into the mountains, but if you can make it up there, the view is breathtaking with few that rival it. There are trees and mountain steeps as far as the eye can see to the North, East, and South with the foothills and the city off to the west.


Boise Depot

The Boise Depot is another great urban vista that will definitely put your inner photographer on the edge of their seat. This amazing place was once the old train depot but has since been decommissioned and preserved as a historical monument. The view from the Depot though is one to envy. The Depot looks straight down Capitol Boulevard and is directly across downtown Boise from the State Capitol building. It is an incredible vista that gives you a view of Boise’s urban center.  


Shafer Butte

Shafer Butte takes a bit to get to the top of, but if you can make it up there, it is worth it. The hike to Shafer Butte is a 5.2-mile loop that starts and ends near Bogus Basin Ski Resort. It is definitely more of a summer and fall adventure as it is covered in snow most other months of the year. Once you get to the top though, you are greeted by an amazing view of the Boise National Forest, the Treasure Valley, and the slopes at Bogus Basin.


The Worst Vistas in Boise

 

To be honest, it is really difficult to find a vista that is not worth climbing, but we did find a few here in the Boise area that you may want to pass up the next time someone invites you along.


Mountain View Drive

Mountain View Drive, the section of it west of Curtis Road, is not a super fantastic view. It is one of the easiest ones to get to on this list as you can literally drive down the length of it. The reason that it is not the best view in the world is that it simply overlooks Chinden Boulevard, Garden City, and the Ada County Landfill in the distance. It is a great place to hit on the Fourth of July as it overlooks the fairgrounds where firework shows usually are frequently held.


Initial Point

While the view from Initial Point does have some pluses to it, not to mention it has historical significance, it definitely does not compare to the other views on the top half of this list.

Initial Point was the outcropping that some of the first surveyors of Idaho used to map out the legal boundaries of the state. To do this mapping, they needed a high point that had a good 360-degree view. However, the view is not all that impressive. Initial Point is far from the mountains and forests and is immediately surrounded by sagebrush and barren desert. You can see the mountains in the distance, but they aren’t very clear.



Now, there are a lot more vistas and views in the area you can explore. It is hard to judge them though. What are some of your favorite vistas and views in the Boise, Idaho area?

Posted in fun things to do
Nov. 27, 2018

Tips for Building a New Construction Home

Boise is a wonderful place to build your new home!

Currently, in the Boise real estate market, there are many people who are deciding to build a home instead of buy a prebuilt one. There are many reasons why one might choose to do this, but if you find yourself in a situation where building a home is more likely than buying one, here are some tips that will make your experience much smoother.

 

Keep in contact with your builder

There are few things as important as communication when it comes to big projects like building a home. That is why it is vital that you keep in good contact with your builder. Whether that is via email, phone call or even text, you need to be talking with your builder on a regular basis! This will allow you to keep your finger on the pulse of the project, address issues quickly, and help keep everything on track.

 

Have the home inspected

You may think that an inspection is just for when you are buying a prebuilt home, but you would be wrong. Even though you can literally watch the walls on your new construction home go up, you need to make sure it is inspected. There are many things that can, and sometimes do, go wrong when a home is being built; an inspection will let you know if there are any big concerns you need to be aware of.

 

Plan on your home taking longer to build than originally expected

Whether it is the weather, city ordinances, or anything else for that matter, there is always something that will come up when building a new home. While your builder will most likely already have a week or so buffer built in to their own estimate, it is good to add a few weeks to your own personal timeline so you aren’t blindsided by any delays.

 

Check in at the building site

It is a good idea to pop in at the building site of your new home every now and again. This way you can make sure that the project is taking shape the way that you like and you can remind your builder of any details he/she may have forgotten about. While you are there, be sure to take pictures so you have some documentation and fun memories in the future.

 

Building a new home can be a fun process that allows you to really make the home your own. When you build a home you can customize it in many ways to fit your needs, personality and budget. However, it is good to be diligent, and to take ownership of the homebuilding process. This will allow you to make sure things are being done right and as well as minimize surprises along the way.

 

Posted in Boise Relocation
Nov. 16, 2018

OPEN HOUSE IN WILLOW SPRINGS!

This amazing single-level home is located in the heart of Southeast Boise. It is just minutes from the Boise Foothills, the Boise Greenbelt, Boise River, Bown Crossing and so much more! Its generous backyard has ample room to relax or play and includes a wooden deck, patio, garden space, and storage shed. Inside, you'll find an open floor plan, roomy bedrooms, amazing bay windows, skylights, and a wood fireplace.

To check this home out, be sure to come by the open house and click the address below to visit it's listing page!

4094 S Oak Brook Way

Boise, ID 83706

Posted in Open Houses
Oct. 16, 2018

Will Your Current House Fit Your Needs in Retirement?

Will Your Current House Fit Your Needs in Retirement? | MyKCM

 

As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.

According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.

1. Affordability

“It may be easy enough to afford your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.”

Would moving to a complex with homeowner association (HOA) fees actually be cheaper than having to hire all the contractors you would need to maintain your home, lawn, etc.? Would your taxes go down significantly if you relocated? What is your monthly income going to be like in retirement?

2. Equity

“If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.”

The equity you have in your current home may be enough to purchase your retirement home with little to no mortgage. Homeowners in the US gained an average of over $16,300 in equity last year.

3. Maintenance

“As we age, our tolerance for cleaning gutters, raking leaves and shoveling snow can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline.”

As we mentioned earlier, would a condo with an HOA fee be worth the added peace of mind in knowing that you do not have to do the maintenance work yourself?

4. Security

“Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.”

As scary as that thought may be, any additional security and an extra set of eyes looking out for you always adds to peace of mind.

5. Pets

“Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.”

Evaluate all of your options when it comes to bringing your ‘furever’ friend with you to a new home. Will there be necessary additional deposits if you are renting or moving in to a condo? Is the backyard fenced in? How far are you from your favorite veterinarian?

6. Mobility

“No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.”

Sixty is the new 40, right? People are living longer and are more active in retirement, but that doesn’t mean that down the road you won’t need your home to be more accessible. Having to install handrails and make sure that your hallways and doorways are wide enough may be a good reason to look for a home that was built to accommodate these needs.

7. Convenience

“Is the new home close to the golf course, or to shopping and dining? Do you have amenities within easy walking distance? This can add to home value!”

How close are you to your children and grandchildren? Would relocating to a new area make visits with family easier or more frequent? Beyond being close to your favorite stores and restaurants, there are a lot of factors to consider.

Bottom Line

When it comes to your forever home, evaluating your current house for its ability to adapt with you as you age can be the first step to guaranteeing your comfort in retirement. If after considering all these factors you find yourself curious about your options, let’s get together to evaluate your ability to sell your house in today’s market and get you into your dream retirement home!

 

Posted in Buying a home
Oct. 9, 2018

Are Lending Standards Propping Up Home Prices?

Are Lending Standards Propping Up Home Prices? | MyKCM

 

Back in 2005, Federal Reserve Chairman Alan Greenspan described the dramatic increases in residential real estate values as a “froth in housing markets.” Greenspan went on to say:

“The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern…some households may be employing these instruments to purchase homes that would otherwise be unaffordable, and consequently their use could be adding to pressures in the housing market.”

Greenspan was warning that the loosening of lending standards could lead to disaster. And it did.

With home prices again appreciating at percentages well above historic norms, many are wondering whether the market is again becoming “frothy.” Mortgage standards are much stricter now, however, than they were in 2005.

The Urban Institute’s Housing Finance Policy Center issues a monthly index which measures the percentage of home purchase loans that are likely to default. A lower score indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards. A higher score indicates that lenders are willing to tolerate defaults and are taking more risks.

Their July Housing Credit Availability Index revealed credit availability rose to 5.9%. For context, they went on to explain:

“Significant space remains to safely expand the credit box. If the current default risk was doubled across all channels, risk would still be well within the pre-crisis standard of 12.5 percent from 2001 to 2003 for the whole mortgage market.”

Here is a graph depicting the Urban Institute’s findings:

Are Lending Standards Propping Up Home Prices? | MyKCM

Bottom Line

Though it may be slightly easier to get a mortgage today than it was a year ago, lending standards are nowhere near where they were during the build-up to the housing bubble.

 

Oct. 2, 2018

Buying Is Now 26.3% Cheaper Than Renting in the US

Buying Is Now 26.3% Cheaper Than Renting in the US | MyKCM

 

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States.

In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas.

It’s no surprise, however, that those two metros are San Jose and San Francisco, CA, where median home prices have jumped to over $1 million dollars this year. Home values in San Jose have risen 29% in the last year, while rents have remained relatively unchanged.

For the 98 metros where homeownership wins out, 97 of them show a double-digit advantage when buying. The range is an average of 2.0% less expensive in Honolulu (HI), all the way up to 48.9% in Detroit (MI), and 26.3% nationwide!

Below is a map of the 100 metros that were studied. The darker the blue dot on the metro, the cheaper it is to buy there.

Buying Is Now 26.3% Cheaper Than Renting in the US | MyKCM

In order to calculate the true cost of renting vs. buying, Trulia includes all assumed renting costs, including one-time costs (like security deposits), and compares them to the monthly costs of owning a home (insurance, mortgage payments, taxes, and maintenance) including one-time costs (down payments, closing costs, sale proceeds). They also assume that households stay in their home for seven years, put down a 20% down payment, and take out a 30-year fixed rate mortgage. The full methodology is included with the study results here.

Below is a chart created with the data from the last six years of the study, showing the impact of the median home price, rental price, and 30-year fixed rate interest rate used to calculate the ‘cheaper to buy’ metric.

Buying Is Now 26.3% Cheaper Than Renting in the US | MyKCM

In 2016, when buying was 41.3% less expensive than renting, the average mortgage rate was the driving force behind the difference. Rates this year are the highest they have been in six years which has narrowed the gap, all while home price appreciation has also been driven up by a lack of homes for sale.

Cheryl Young, Trulia’s Chief Economist, had this to say,

“One point deserves emphasizing: The ultra-costly San Francisco Bay Area is not a harbinger for the nation as a whole. While renting may outweigh buying in San Jose and San Francisco, it is unlikely that renting will tip the scales nationally anytime soon.”

Bottom Line

Homeownership provides many benefits beyond the financial ones. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home.

 

Sept. 28, 2018

2 MUST SEE OPEN HOUSES! Sunday 1:00-3:00 pm

This outstanding home in Harris Ranch is better than new! The incredible floor plan features an open layout, vaulted ceilings, contemporary woodwork, gorgeous oak hardwood flooring, slate gas fireplace, spacious bedrooms, abundant storage & a custom patio with a stellar view! The impressive chef's kitchen is anchored by a sleek granite 9' center island, large double oven & custom cabinetry. Enjoy a generous upper level bonus room that can be used as a 2nd master suite with a full bath & walk-in closet.

Click address for link to more info:

2561 S Palmatier Way, Boise, ID 86716

 

Luxurious river front home in the prestigious gated community of Wood Duck. Enjoy a one of a kind 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, heated floors,heated towel rack, 2 person jetted spa tub w/ champagne bubbles! Just a short stroll to River & greenbelt!!

 

Click address for link to more info: 

3254 E Rivernest Ln, Boise, ID 83706

Sept. 25, 2018

Millennials Are Skipping Starter Homes for Their Dream Homes

Millennials Are Skipping Starter Homes for Their Dream Homes | MyKCM

 

A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes.

What’s a Starter Home?

According to the National Association of Realtors (NAR), simply put, a starter home is a one or two-bedroom home (sometimes even a small, three bedroom).Prices vary widely by market but starters on average cost $150,000 to $250,000 while trade-up and premium homes cost upwards of $300,000.”

Finding Their Forever Homes Now

A recent CNBC article revealed that there are many factors that delayed older millennials (ages 25-35) from buying a home earlier in their lives. The aftereffects of the Great Recession teaming up with larger education costs forced many to either remain living in their parent’s homes or to rent.

With the economy continuing to improve, many millennials have been able to break into better-paying jobs which has helped spur down payment savings. As the dream of homeownership comes closer to reality, many millennials are saving for their forever homes.

According to the latest statistics from NAR, 30% of millennials bought homes for $300,000 or more this year (up from 14% in 2013). Diane Swonk, Chief Economist at Grant Thornton weighed in saying, “They rented for longer. Now they’re going to where they want to stay.”

More and more millennials are settling down, getting married, and starting families, which is a huge factor driving them to look for larger homes.

Increased competition in the starter home market has also been a driving force in waiting to afford their dream homes. Inventory in the starter home market is down 14.2% from last year, according to research from Trulia. This has driven prices up and has led to bidding wars.

Many first-time buyers who were originally looking for starter homes are realizing that for just a little bit more of an investment, they could afford trade-up or premium homes instead.

Bottom Line

If you plan on purchasing your first home this year, let’s get together to determine how much house you can afford. You may be pleasantly surprised. Call us at Templeton Real Estate Group at 208-473-2203 or email us at info@templetonrealestategroup.com