Real Estate News

Found 26 blog entries about Real Estate News.

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If mortgage demand is an indicator, the housing market is starting to rebound a lot quicker than expected amidst the COVID-19 pandemic.

Home purchase mortgage applications rose 6% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Purchase volume was just 1.5% lower than a year ago, a remarkable recovery from only six weeks ago when purchase volume was down 35% year-over-year.

“Applications for home purchases continue to recover from April’s sizeable drop and have now increased for five consecutive weeks,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. He continues, “Government purchase applications, which include

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Boise City is one of the best positioned in the nation to recover from Coronavirus
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Following up on a study conducted by SmartAsset in March 2020 that evaluated recession-proof cities, Moody’s Analytics has released its own report detailing which U.S. cities are positioned to rebound quickly from the effects of Coronavirus. The analysis grouped the top ten best and the worst ten and listed them “alphabetically in order to avoid assigning false precision to our calculations,” writes Adam Kamins, senior regional economist at Moody’s Analytics and the author of the report.

Boise was among the top ten best cities, according to the report.

In analyzing the cities, Moody’s Analytics looked at the population density of a given locale and plotted it against measures of workforce quality, using educational

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Real estate agents are providing a service to their clients, but generally don’t get paid in advance for the work that they do until a property sells. There are two commissions, the buyer’s agent commission, and the seller’s agent (also called the Listing Agent) commission. Generally, both agents share a total commission of the purchase price of the home of around six percent, so three percent per agent. While this figure is considered the norm, there are situations and circumstances where the percentage may be adjusted higher or lower.

Who Pays the Commissions?

Generally, the seller is the one who disburses both commissions. However, since the commissions paid are based on the sale price, it can be argued that the buyer is paying the

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The Intermountain MLS has released its Home Sales Reports for Ada and Canyon Counties for April, and as expected COVID-19, did affect home sales more dramatically in the month versus March. Interestingly, activity was still robust in Canyon County, with Ada County seeing a sizable decrease in transactions. These numbers are on-par with what a recent national report by discovered. For-sale listings plummeted nationally in April as a result of the pandemic. For the week that ended on May 2, total listings were down 19% year-over-year, and new listings were down 39%. The economists at believe the weekly declines are slowing as we start to move beyond the current situation.

Let’s dive into the numbers locally.

Ada County

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Plenty of jobs to be had in Idaho
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You’ve probably noticed there’s been a massive demand for housing in Idaho in recent years, especially here in the Treasure Valley. A new report by “The Travel” discusses cities in the U.S. with the most employment opportunities. They evaluated cities based on their population growth, unemployment rate (pre-COVID-19), cost of living, and overall economy to arrive at the top 12 cities.

In what shouldn’t come as a surprise, Boise found itself on the list in the sixth position. According to the report, “Boise is a bumping! In the last couple of years, the population has increased, meaning jobs have been created to sustain the growing city.”

The report mentions growth in the healthcare and educational sectors, but

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As the Spring Parade of Homes draws to a close, the Building Contractors Association of Southwest Idaho has announced the winners for Best Kitchen, Best Master Suite, Best Interior Design and Finish, and Best Exterior Design. They also awarded homes for being the Best Decorated and the Best Overall. Every home is categorized based upon its price.

The Mike Brown Group is pleased to represent the homes of four builders who participated in the Parade of Homes.

Ninety Degree Construction The Karmen

In Home Category 3, Ninety Degree Construction swept all four award categories with their Karmen floorplan pictured above.

Todd Campbell Custom Homes

Home Category 6 saw Todd Campbell Custom Homes taking home the hardware for Best Kitchen Design, Best Master Suite, and Best Interior Design and Finish for its

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 Movement Mortgage Frontline Heroes Program

Movement Mortgage, a preferred lender partner of The Mike Brown Group, has launched its "Frontline Heroes" program, which helps move our heroes. If you're a healthcare professional, a firefighter, paramedic, or a member of law enforcement, you can save up to $2,500 off your loan costs with Movement Mortgage. 

With rates at near-record lows, now's a great time to find the home of your dreams. Even if you're not working in one of the professions listed above, Movement has a variety of loan options to fit just about any budget. And active and former military can take advantage of special loan programs as well.

Movement provides all applicants their exclusive 6-7-1 loan process, which is unique in the industry. First, your application is sent to an

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Home prices continue to rise in Idaho
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The Coronavirus pandemic has disrupted certain parts of the American economy. Real estate transactions nationally have slowed due to the outbreak, and as a result, housing prices have decreased. According to a recent article by Moneywise, that’s not the case in Idaho. The converse is true.

“How’s the market doing in Idaho? It’s hot, according to Zillow,” says Doug Whiteman, the Editor-In-Chief at Moneywise and the article’s author. Home values have been steadily rising in Idaho and have seen double-digit price increases from a year ago at this time. Values are expected to slow, given the pandemic. However, Idaho is still likely to be a top real estate market, considering how limited housing supplies are and how

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Idaho Number One for Inbound Moves

North American Moving Services released its migration study for 2019, and it confirms what we saw earlier this year from two other top moving companies: Idaho is the top state in the nation for inbound moves.

According to the study, “Idaho tops the charts most years for the highest percentage of inbound moves. It had ranked first every year since 2015 except for 2017 when it was ousted by Arizona.” The study shows that 69% of all of its inbound moves were to Idaho, a large percentage. However, Arizona has been a consistent second-place finisher to Idaho with its number of inbound moves, only unseating the Gem state from its first-place perch in 2017.

The study also showed that the majority of outbound moves from western states were from

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Boise Parade of Homes

Over the weekend, one of the most anticipated events of the spring kicked off: The Spring Boise Parade of Homes. Unlike years past, where homes could be toured personally, this year’s event is entirely virtual. Due to the COVID-19 pandemic, all of the participating houses will feature virtual tours, video, and lots of photography, allowing people to “visit” the properties from the comfort of their own home and at their convenience.

The Mike Brown Group is pleased to represent four builders who have entered homes into this year’s Spring Parade of Homes. The builders include Asbury Homes, Biltmore Co., Ninety Degree Construction, and Todd Campbell Custom Homes.

Let’s introduce you to the four homes beginning in the Bridgetower West community.

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