Real Estate News

Found 5 blog entries about Real Estate News.

 Nighttime view of downtown Boise from the Train DepotPhoto Credit: iStock.com/Joecho-16

A recent study, discovered on Realtor.com, shows wealthy home buyers are looking for homes away from more widely-known affluent and glamorous areas. Forget about Los Angeles, New York, or even Miami. Boise finds itself on a list that shows it as the top location for housing interest from the nation's richest 1%. The City of Trees is “a budding metropolis for affordable luxury,” according to the report. 

Remarks included with the report stated, “The surprise has been the expansion of the affluent sector into mid-sized markets.” It continued, “Part of this is due to wealth migration from higher-tax states to lower-tax states.”

The Boise area has seen a busy real estate market the past several years with droves of

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Treasure Valley Real Estate Market Update
Photo Credit: iStock.com/RCKeller

The first month of the new decade is in our rearview mirror, and the Intermountain MLS has released the home sales data for January. Not surprisingly, home prices continue to rise in both counties, and inventory continues to be tight as we march toward the spring buying season. Opportunities are there for sellers looking to capitalize on the continued growth of home prices.

Ada County

Ada County saw the median home price settle in at $363,000, a nearly 15% increase year-over-year, and up $13,000 from the previous month. The county saw 719 homes sold, a 21.5% increase year-over-year. Ada County has about 1,115 homes for sale, which is down nearly 20% year over year, equating to about 1.5 months of supply. This

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Uncle Sam wants his share

If you're a homeowner here in the Treasure Valley, you've probably noticed that your property taxes are on the rise. The fees are going up due to home values rising and assessed levies for new schools. One of the easiest ways to save money on your property taxes is to file a Homeowner's Exemption with the county assessor's office. 

A Homeowner's Exemption reduces the property's taxable value 50% or up to $100,000, whichever is less. The exemption can only be applied to a single residence and up to one acre of land. Commercial property doesn’t qualify. 

To get the exemption, you'll have to apply, and it will remain in effect for as long as you own the home and use it as your primary dwelling.

You do have to apply by April 14th; otherwise, it

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Falling Interest Rates Header

Freddie Mac recently reported that the 30-year fixed-rate mortgage averaged 3.45% during the week that ended February 6, 2020. That's a decrease of six basis points from the previous week, and the third consecutive week mortgage rates dropped.

The last time the 30-year fixed-rate mortgage was at this level was in October 2016, when the rate averaged 3.42%.

The 15-year fixed-rate mortgage also fell to 2.97%, the first time since 2016 that this rate dropped below 3%.

As you can imagine, the near-historic low mortgage rates, coupled with a strong economy, will continue to propel housing demand for the next several months.

Here in the Treasure Valley, with already limited housing supplies, prices are going to continue their ascent. A recent

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Ask the Realtor Heading

Chances are if you’ve bought or sold a home, you’ve seen a “Seller’s Disclosure.” Legally, the entity selling the home has to detail information about the property that could affect the buyer’s decision to buy the property. This can take the form of the physical aspects or issues of the property as well as items that could pertain to the enjoyment of the property by the buyer.

Physical Property Disclosures

Let’s take a look at the physical aspects first. These are any known issues or problems that affects the piece of property, the house, outbuildings, etc. Things that need to be disclosed include:

  • Major Structural Repairs
  • Flood Issues
  • Fire/Smoke
  • Roof Repairs
  • Mold or other Water Damage

Non-Property Specific Disclosures

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