You could have your choice of a dozen, two dozen, or several dozen homes in some of our major subdivisions.

As I recall, Paramount, Bridgetower, Lochsa Falls, and Two Rivers all had 60+ homes for sale back then.

Now, it has become difficult to find a clean, sharp, well-maintained, closable (non short sale) home in some segments of the Boise real estate market.

Here are three recent buyer scenarios I have recently experienced with buyers.

Buyer # 1′s Want List

• Eagle
• Newer
• Quality construction
• About 3,000 sq. ft.
• 4BR with in-law quarters
• Single level
• 1+ acre
• $350k – $500k all cash

Results: Nothing matching my buyer’s criteria

Buyer #2′s Want List

• Newer
• 2,400 sq. ft. minimum
• 4BR
• 1+ acre
• 30-minute commute to downtown Boise
• To $350k pre-approved financing

Results: 6 homes matching my buyer’s criteria.

Buyer #3′s Want List

• Newer
• Meridian/Eagle
• Meridian schools (specific schools)
• 2,400 sq. ft. minimum
• 4BR
• 3-car garage
• Large lot
• To $350k all cash

Results: 4 matching my buyer’s criteria/accepted offer.

In Ada County, we currently have about 2,600 single-family homes on lot/acreage available.

That works out to roughly five  months’ supply of listing inventory.

When you break that listing inventory down to a buyer’s specific criteria, it is often difficult to find the right home.

That becomes even more difficult in the lower price ranges.

Conclusion: When you find the right home, it’s a good idea to pull the trigger.

Note: Months’ supply calculated by dividing the average sales per month over the past twelve months into the number of available listings.

More times than I can count, especially lately with roughly one-third of our sales being cash deals.

There’s a mystique about all cash offers that’s sometimes overrated.

Why?

Because every transaction, unless the seller is carrying back the paper, is a cash deal.

The only difference is where the cash comes from.

It either comes from the buyer or the buyer borrows it from a mortgage lender.

The main advantage of an all cash offer is convenience because there’s less paperwork and you can close sooner sooner if both buyer and seller want to.

They’re at their best when they’re fresh.

Like fruit, they tend to be less appealing after they’ve been on display for awhile.

During the first 30 days, a listing is fresh, new, and more exciting to buyers and their agents.

During that initial time period, buyers tend to think that someone else could buy it if they don’t make an offer.

That excitement morphs into “why is this home still available?” and “there must be something wrong because this home is still available!” when a listing becomes stale.

Listings that linger on the market become stagnant and frequently require one or more price reductions to achieve a sale.

If you’re a seller, you don’t want to go there because it conveys weakness to buyers and their agents and sets up the possibility (likelihood?) of selling at an even lower price.

It’s always best to complete a thorough, detailed, objective market analysis of the property and figure out the likely sales price.

Then, price the property to sell quickly.

When determining a listing price, sellers should consider how they will feel if their home remains unsold with no offers 90 days later.

Listings, like fruit, are perishable and do not improve with time.

Eliminate Pet Odors & Distractions

That doesn’t mean getting rid of Fluffy or Rover, but do whatever you must to avoid turning off buyers who aren’t appreciative of your pets.

If you have a barking (biting?) dog, plan on either crating or removing it from your home during showings to avoid distracting the buyers.

Paint Touch-Up

Most homes, unless they are almost new, can benefit from paint touch-up around the doors, windows, and other trim areas.

How does your front door look?

The old saying “You never get a second chance to make a good first impression” surely was coined for front doors!

A little paint often goes a long way toward making a home more appealing.

Be Prepared For Showings

Showings can happen at a moment’s notice.

Therefore, your home should be kept in showing condition at all times.

This means beds should be made, clothes hung in the closet, landscaping kept trimmed, etc.

It’s also a good idea to turn on the lights, open the blinds, and leave before your home is shown.

Living in your home and preparing it for sale are two entirely different things.

Your success in finding a buyer for your home will largely depend upon what you do to make your home more appealing to prospective buyers.

Homes in pristine, move-in condition usually command higher prices than those that need work.

Here are some helpful tips on how to prepare your home for a fast top-dollar sale:

Remove The Clutter

This is almost always my #1 recommendation when listing a home.

Go through your home with a critical eye and put away everything that’s sitting around in plain sight.

This often means putting away small kitchen appliances, the kids’ toys, and other items that cause visual distraction.

If your home and garage are crammed with too much “stuff”, you may even want to consider renting a storage unit and moving your excess possessions out of your home in order to provide a more pleasant visual experience for prospective buyers.

Scrub and Clean

Look at your home, inside and out, with a  critical eye toward dirty windows, fingerprints and smudges around light switches, dirt in window frames, etc.

Identify those areas needing attention and get out the Formula 409^™.

Have your carpets professionally cleaned if they need it.

Check back tomorrow for Part II !

Most home inspections in the Boise real estate market are done at the buyer’s expense after negotiating the sale and opening escrow.

If the sellers have their home pre-inspected, it’s possible that their buyer may question the objectivity of the seller’s inspector and still want to have the home inspected by their own inspector.

In that situation, the sellers are paying for an inspection that normally would be done at the buyer’s expense.

The advantages of a pre-inspection, however, include advance discovery of deal-threatening issues and being able to correct those issues before they become a concern to a prospective buyer.

There’s also a time advantage because pre-inspecting makes it possible to correct discovered issues before marketing the property vs. after the sale when everyone wants to get to the closing table quickly.

A pre-inspection can also provide peace of mind and confidence to the buyer, and in some cases, may result in more successful price negotiations for the seller.

I am planning to suggest pre-inspections to more of my sellers in the future because I think it’s a good idea to know upfront if there are any major problems.

I have had to deal with  moisture in the crawlspace with three recent sales, including one with mold.

It would have been nice to have full disclosure of those issues before wasting valuable time negotiating those sales and getting into escrow.

I routinely experience this confusion with sellers, buyers, and amazingly ~ other agents!

Part of the confusion is caused by the real estate profession itself because the appointment to sign final documents is usually called a “closing appointment”.

That appointment is NOT an appointment to close escrow, it is an appointment to sign final papers!

The actual act of closing occurs when the deed is recorded at the courthouse.

This occurs after both buyer and seller have signed their final papers and the lender has “funded” the loan.

One example is forcing people to register for a basic MLS search of Boise real estate.

I value and respect those of you visiting this site and the last thing I want to do is entrap you and treat you like a “lead”.

I’m here to help you when and if you need me, but you can search Boise MLS data ’til the cows come home without registering.

If you do choose to download my FREE Moving To Boise e-book (recommended, BTW), you may get a call from me to see if I can answer any questions.

But, rest assured that I have a “no pursuit” policy and will not put you on a drip system and bug you daily to see if you’re ready to buy or sell a home.

Objections give the buyer negotiating power.

You must remove all possible objections in order to retain negotiating power.

• If the carpets are dirty, clean them.
• If the carpets are worn out or ugly, replace them.
• If your home needs painting, paint it.
• If you have pets, remove them.

Look at your home the way buyers will and make it attractive to them!

If you don’t remove objections, your buyers will usually reduce their offer by more than the actual cost of correcting the issues they perceive to be in need of correction.

List Your Home With An Experienced Full-Time Professional

You need a listing agent who is a good communicator, experienced, knowledgeable, and a good negotiator.

The last thing you need is an agent whose first act is to negotiate away their commission, has no internet presence, or cannot take calls because they are at work (on their real job).

Use Effective Internet Marketing

90% of all home buyers start their search on the internet, then select a buyer’s agent to represent them.

If your listing agent doesn’t have an effective internet presence with a high-ranking site, your home will be invisible to buyers.

SHAMELESS SELF-PROMOTION: This blog ranks on the first page of Google for several of the most popular search phrases in the Boise real estate market.

Understand That The First Offer May Be The Best Offer

A new listing, properly-prepared for sale, will always be more exciting than a shopworn listing that has been on the market for several months and reduced several times.

Capitalize on that excitement when you get that first offer!

BTW ~ those smokin’ hot days are long gone!

Here’s how to sell your home in today’s slower Boise real estate market:

Complete A Thorough Market Analysis

This means looking at available listings (your competition), pending sales, and closed sales within the past 90 days (just like the appraiser will do after your home sells).

Face Reality And Price Your Home To Sell

This means figuring out what your home is worth, then pricing it slightly below market value to be competitive.

Your goal is to ensure that yours is the next home sold in your neighborhood; not the home that buyers use as a comparison as they buy someone else’s home.

Overpricing your home in a slow market ensures that you will take longer to sell and end up selling for less after multiple price reductions.

Be Prepared To Pay The Buyer’s Closing Costs

Like it or not, most transactions in our current market include the seller paying the buyer’s closing costs.

This is especially common with first-time buyers who have minimal cash for a down payment and closing costs.

~ Stay tuned for Part II ~