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January 2013

Found 10 blog entries for January 2013.

The Mike Brown Group: Boise Short Sales

Homeowners all across the country find themselves in the uncomfortable situation of slowly losing the grip on their home. This is no different for residents of Boise, Idaho. But there is an answer. Boise short sales offer a chance for homeowners to walk away without suffering the paralyzing effects of foreclosure.

Simply put, a short sale means that a bank is willing to accept a payoff that is short of what is owed on the loan. By labeling a home as a short sale, they are advertising their intention to the public. This draws in a much larger crowd of potential buyers and gives the bank a much greater chance of selling it sooner.

Why would a bank make such an offer? Because in the end, it saves them money. Foreclosures cost banks an obscene amount of

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The Advantages of Having an Agent: The Mike Brown Group REALTORS®

Selling a home involves a careful blend of specialty areas, some of which include marketing, follow-up, market information and negotiating skills. Even with so much importance riding on the sale, many Americans still make the decision to try to sell their home themselves. Thats why its important to know the benefits that are derived from using a selling agent.

When sellers are asked why they would take on such a monumental task, the most common answer is always to save on the commission. But when you break down a deal, the truth is that there really isn’t any money being saved. In fact, sellers typically end up actually losing money- sometimes considerable amounts of it.

Take a look at marketing. A selling agent contracts to show your property and

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The Mike Brown Group: How to Handle an Expired Boise Home Listing

Selling a home can create some tense situations. But nothing is more stressful than a home that has been on the market and not sold. Unfortunately, when potential buyers continue to see your home on the market week after week, their first impression is that something must be wrong with it. In reality, if a home is marketed properly, in good condition and priced right, there is no reason why it shouldn’t sell.

So, the questions is: how do you properly market a home, what do you classify as “good condition”, and what is the “right price”? The reality is when a home has been sitting the seller and/or agent does not know the real answers to each of these questions.

Marketing: There are many different ways to market a home. But you can’t go with cheap

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Pricing Short Sale Homes: Boise REALTORS® The Mike Brown Group

Short sales offer buyers an excellent opportunity to snag a nice home at a great price. The problem is that any other potential buyer looking at homes in your price range has the same idea. So what do you do? To avoid losing the home of your dreams, the most important thing that you should undoubtedly ask yourself is: “what price should I offer on a short sale home”?

A short sale occurs when a homeowner notifies the bank that they can no longer afford their home. Instead of immediately foreclosing, the bank agrees to take less, or “short” of what is owed on the loan as payoff. While this can produce great deals for buyers, the competition is fierce. So pricing is everything.

In order to find the right price, you will want to employ the services of a

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Boise Real Estate - Top Ways to Sell Your Home

Selling your Idaho home takes some time and effort, but here are a few tips and suggestions to help improve the look and appeal of your home when selling.

Throughout the house
1. Open the draperies, pull up the shades, and let in the sunlight.
2. Create a positive mood. Turn on all lights, day or night, and install higher wattage light bulbs to show your home brightly.
3. Remove clutter from each room to visually enlarge the room.
4. If you have a fireplace, highlight it in your decorating.
5. Keep your home dusted and vacuumed at all times.
6. Have a family “game plan” to get the home in order quickly if necessary.
7. Air out your home for one-half hour before showings, if possible.
8. Lightly spray the house with air freshener so that it has a chance

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A Great Time To Buy Boise Real Estate - The Mike Brown Group

As a home buyer, you may not have any idea that it is a great time to purchase right now. There are many different reasons why buying a home during this particular real estate market could be of great benefit to you. Let’s take a look at some of the top reasons you should be in the market for new property right now.

One of the best reasons to purchase right now is that sellers are highly motivated to sell their homes. In fact, experts believe that prices won’t get any lower in most markets. There is an overabundance of inventory which means that sellers are more willing to negotiate with you. The inventory of homes for sale is at a 15 year high. Home sellers know that the competition is stiff, so they must be willing to create a win-win situation for

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Renting vs Buying - The Mike Brown Group REALTORS®

People are often perplexed when trying to decide between renting and buying a house. There is no question that the American dream is to buy a great home in a great area for a great price. Several studies have shown that home ownership not only adds value to communities, but it has positive effects on children and even increases voter participation rates.

Over two thirds of American households own their home. These people know the financial benefits of owning property. Not only do you accumulate home equity, but you will have the pride of owning your own home. So what are some of the best reasons to buy a property instead of renting?

You have to remember that when renting a property you are paying off someone else’s mortgage loan. Instead of putting

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The Attraction of Boise Real Estate - The Mike Brown Group

If you are interested in Boise real estate, you need to know more about the area and why so many people are attracted to it. Boise has a perfect combination of small-town living mixed with the access of a big city.

People who live in Boise are accustomed to living in a safe place around lots of friendly people. There are all kinds of different businesses in Boise ranging from small mom-and-pop shops to large industries. From agriculture to high tech, Boise has something for everyone. In fact, the city is home to campuses of companies such as Microsoft and Hewlett-Packard.

With historic sites to see and abundant nightlife, Boise really offers a lot to potential home buyers. You can take in a movie at our local multiplex or grab a meal at the popular

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Are Home Loan Modifications a Temporary Fix? - The Mike Brown Group Blog

With more home sellers having problems making their monthly mortgage obligations, the idea of doing a loan modification has become pretty tempting. However, some new statistics released from Moody’s Investors Service are leading some people to believe that loan modifications are only a temporary fix to a long-term problem.

The new statistics released showed that most sellers are only delaying the eventual foreclosure or short sale of their home. According to the report issued in February, Moody’s found that modified loans were three times as likely to go into default over the next 12 months when compared to a non-modified loan that was current.

The agency looked at 2 million loans backing residential mortgage-backed securities pools securitized after

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Selling Your Boise Home - The Mike Brown Group Blog

Before you set out to try to sell your own house, you need to understand the basics of the home selling process. So many homeowners make the mistake of attempting the “for sale by owner” strategy without understanding how the process works. Even though it can be tempting to save the commission, research has shown that homes sell quicker and for more money with the assistance of a professional real estate agent.

Here are some tips and tricks to remember if you decide to handle the home selling process by yourself:

Pricing: It is critical to price your home effectively at the very beginning. You don’t want to be too high or too low. The best way to do this is to compare your home to comparable properties within your local marketplace. You want to do a

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