Mike Brown Group's Real Estate Blog

Home prices are not going to appreciate as much for next year. Photo Credit: iStock.com/Fokusiert

A new report by Veros Real Estate Solutions indicates that the average projected appreciation rate for the nation’s top 100 housing markets will only increase on average 1.9% through the first quarter of 2021. Previous forecasts were a lot more optimistic, but due to the COVID-19 pandemic and economic uncertainty, the forecast was adjusted.

“Home price trends and forecasts certainly take a backseat to more pressing health and safety issues during this unprecedented tragedy. While we expect a softening of house prices in the near-term, we anticipate a rebound when the COVID-19 pandemic subsides,” said Darius Bozorgi, CEO of Veros Real Estate Solutions. “The fundamental economic principles under which housing has

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Boise Population Growth
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In what shouldn’t come as a shock, new data shows that the Treasure Valley is growing, and fast.

The Census Bureau has released new data showing the Boise Metro Area as the 37th fastest growing area in the country. The data, which includes estimates through July 1, 2019, shows 20,291 people who now call the area home since July 1, 2018. Of those, 16,759 residents came as the result of relocating to the area, which isn’t surprising since a couple of national moving companies said Idaho was tops on their lists for people to move to. There was a net increase of 3,522 due to vital events (births and deaths). To put the numbers into perspective, the region grew by roughly 55 new people per day, 389 new people per week,

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Things a homeowner should knowPhoto Credit: iStock.com/AndreyPopov

Maybe you're in the market for a new home, or perhaps you've just moved into one. Regardless of your circumstance, there are some things you need to know about your new house. This article will help educate you on things you need to know about your house.

Know Where Your Water Shutoff Valves are Located

Most homes have two shutoff valves: one on the interior and one externally, leading into the house. It's great to know where these are in the off chance you have a leak in one of your pipes that needs to be repaired, or if you're upgrading plumbing fixtures.

Know Where Gas Line Shutoffs Are

If you have gas going into your home, you should know where to turn it off in case you're replacing a fireplace or

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Ask a REALTOR®, what is Escrow

When buying a house, you may have heard the term "escrow" and have wondered what it means. When you place an offer on the house, and that offer is accepted, you'll probably have to pay earnest money as a sign of good faith to move toward buying the home. That earnest money is deposited into an escrow account where it will remain until the deal closes. Once everything is finalized, the funds from that account are released and are generally applied to their mortgage and closing costs.

Once escrow closes, the financing company will open a new escrow account where it will hold funds to pay for property taxes and homeowner's insurance as part of the monthly mortgage payment. Generally, you'll pay 1/12th of your annual insurance and property taxes as

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Houses stacked on coins
Photo Credit: iStock.com/Bet_Noire

The February 2020 Monthly Housing Market Trends Report by Realtor.com was released recently, and all indications are that the buying season will be extremely competitive. The report did note that "it remains to be seen if new concerns about the spread of the Coronavirus domestically will dampen what is shaping up to be a competitive home-buying season."

The total number of homes available for sale decreased and continues to decline at an accelerating pace. In fact, according to the study, inventory dropped 15.3% year-over-year for February. That's a faster rate of decline than January's year-over-year numbers, which were at 13.6%. The figures translated into roughly 184,000 lost listings year-over-year for February

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Top 500 Brokerages of 2020 RealTrends

RealTrends, the leading and undisputed firm for ranking the performance of the top residential real estate brokerage companies, has released its 33rd annual Top 500 list of brokerages in the U.S. 

The Mike Brown Group of Silvercreek Realty Group is excited to announce that our brokerage, Silvercreek Realty Group, ranked 45th in the nation for total deals, having 10,800 transactions. The brokerage also ranked 52nd in the country for total dollar volume, with $3.4 Billion in closed business.

"We're excited to be a part of the brokerage's accomplishment and look forward to many more years of success. Our sincerest congratulations to Aaron Doughty, Krista Deacon, and the rest of the Silvercreek team,” says Mike Brown, Owner of the Mike Brown

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Rainbow over the city of Boise, Id
Photo Credit: iStock.com/christiannafzger

Many pundits are pointing to a recession from the shock of the coronavirus pandemic. However, a recent study by SmartAsset shows that Idahoans can take solace, knowing that we may not be as affected as some other areas in the country.

The recent study looked at the most recession-resistant cities for 2020. The company examined nine metrics across three overarching categories: employment, housing, and social assistance, as they pertained to the largest 264 metropolitan areas in the U.S.

The employment category takes into account the current unemployment rate, change in the unemployment rate during the Great Recession from 2007 through 2010, and the current labor force participation rate. The housing

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Image with stacked interest rate blocks
Photo Credit: iStock.com/marchmeena29

Late last week, in the span of a few hours, the 30-year fixed mortgage interest rate jumped a percentage point. According to Movement Mortgage Senior Loan Officer Todd Shreeve, "there are a number of factors contributing to the recent increase." He continues, "one of the factors...over the past couple of weeks interest rates have been very low. When rates were at their low point, it caused an unprecedented number of refinance applications. The result was the lending industry couldn't absorb the volume of applications that came in, so we began to see rates inch up over the past few days."

The demand for refinance applications is one cause, but what about the coronavirus and the markets?

"The covid-19 virus has

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House exterior
Photo Credit: iStock.com/hikesterson

With the real estate market being a seller's market in Boise, maybe you've decided to take advantage of the higher price points and sell your house. Before you do, here are 14 things you should do before listing your home. Be sure to talk to your REALTOR® about other suggestions that improve the interior and exterior appeal of your home, and perhaps, add value.

Clean Up the Yard

Make sure to mow your lawn, trim hedges, and pull weeds. For bonus points, plant some colorful flowers.

Clean Your Home's Exterior


Photo Credit: iStock.com/mikespics

You can either do this yourself or hire a pro. If you don't have access to a pressure washer, there are garden hose connected options available at your local home

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Baker's Hands Clapping Together
Photo Credit: iStock.com/YaroslavKryuchka

"I have struggled in my past with law issues and social anxiety," says Kellen Warner, one of the students at Life's Kitchen in Boise. "I'm in this program to prepare myself for better life opportunities," he says.

Life's Kitchen is a 16-week program where trainees learn a range of employable skills, helping them be more productive contributors to society. "Life's Kitchen strengthens our community by providing youth a career," says Tammy Johnson, Executive Director of Life's Kitchen. The organization provides food service-related training to young adults between the ages of 16 and 20 who face life challenges, which could inhibit their success. Also, Life's Kitchen teaches life skills and has classes on

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