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What If There Is No "Recovery"?

May 4, 2008

Am I the only one who giggles when yet another “expert” predicts the precise moment when the housing market will recover?

Depending upon the expert du jour, we can select from the following:

  • Tomorrow
  • Next week
  • Next month
  • Fall 2008
  • Spring 2009
  • Fall 2009
  • Sometime in 2010
  • Sometime in 2011
  • Sometime in 2012

I had a thought the other day (didn’t even hurt!).

What if there is no recovery?

What if this is it?

What if . . .

  • Demand remains lower that expected?
  • Supply eventually equals demand?
  • Prices stabilize at affordable levels?
  • The speculators/flippers lick their wounds and move on to the next big thing?
  • Credit tightens further and buyers have to have a substantial down payment, stellar credit, and be able to afford the home they’re buying?
  • Homes appreciate at 2-3% annually like they did five years ago?
  • People once again buy a home to live in instead of using it as their personal ATM?

What if this IS the future?

My best guess?

If you’re waiting for “Back To 2005”, it’s going to be a long wait!

Boise Real Estate's Groundwater Issues

April 30, 2008

It’s important for home buyers in the Boise real estate market to understand soil conditions and the risks associated with them.

Much of the Boise area has an underlying layer of clay just beneath the soil’s surface.

That layer of clay prevents surface water from being absorbed, and can result in that water moving in “sheets” above the layer of clay.

Sounds kinda technical, right?

Well, here’s what it means (in plain English) to you as a homeowner.

If your home doesn’t have proper drainage, you can end up with moisture in your crawl space and perhaps mold.

Mold is the kiss of death in real estate.

Once you have mold in your home, you must disclose it (material fact) to all future buyers, and most of them will run away after they hear about it.

And, if you file a water damage claim with your insurance company, your home will likely get listed on the national CLUE database, which can result in not being able to get insurance in the future, which may result in future buyers not being able to obtain financing when you want to sell.

Not to mention that it’s very expensive to remediate mold problems these days.

Moisture in crawl spaces can be avoided through some common-sense practices, including:

Watering Your Lawn Sensibly

I often see homes where the lawns are being over-watered.

It’s often best to water once/day at 6:00 a.m., with less water.  You don’t need to water two or three times a day for 30 minutes per station.

Directing Rain Water Away From Your Foundation

Here are some examples of downspouts that I see:

Least Desirable

Better

Best

The last option is the best one with the rain water being piped to a dry well (a pit full of drain rock that penetrates the layer of clay) away from the home.

It’s also desirable to have full gutters on your home to avoid rain water running directly off the roof and being absorbed into the ground adjacent to the foundation.

This is an example of a home without full gutters that is more likely to cause moisture in the crawl space.

BTW – you’ve seen those chain downspouts, right?

Well, I have them on my home and I’m way kewl, but they don’t work very well.

The water doesn’t follow the chains when it rains hard, and the gushing water blows the bark/rock away when it finally hits the ground.

Hope this helps ~ now get your mind out of the gutter, will ya?

Global Cooling In Boise

April 17, 2008

I am sometimes amused by the public’s fascination with global warming.

We could use a little global warming in the Boise area about now.

It feels like we are experiencing global cooling this year, compliments of La Nina.

This has been the coolest Winter I have seen since moving here more than seven years ago.

I arrived on September 1, 2000 and the next four days ranged between 112 to 115 degrees.

I wondered what I had gotten myself into, but soon realized that was an aberration.

This year is quite a contrast from previous years when the trees began budding out in early Spring.

Here we are on April 17th and the trees are just now starting to bud.

I have a few daffodils and tulips showing their stuff, but my grass is just now starting to green up.

I wonder what our Summer will be like this year?

Will we have the usual number of hot days, or will it be cooler this year?

The nice thing about living here is that we have four distinct seasons without any of the extremes that many areas experience.

Top 10 Ways To Identify "The Bottom"

April 15, 2008

1. Builders stop giving cars away to people who buy a home.

2. Sellers stop paying buyers’ closing costs.

3. Sellers stop offering bonus commissions to buyer’s agents.

4. Sellers start seeing multiple offers again.

5. There isn’t a “For Sale” sign in everyone’s front yard.

6. There aren’t any more “Price Reduced” riders on signs.

7. Homes become more affordable for the average buyer.

8. Barney Frank stops trying to “fix the foreclosure mess”.

9. Two million struggling real estate agents get real jobs.

And, finally . . . . (bada boom)

10. The media says something positive about real estate.

Headlines You Won't See In The Media

April 7, 2008

99.4%of all Idaho households are NOT in foreclosure!

Idaho Jobless Rate Rises A Meager 1/10 of 1% to 3%!

97% Of All Working Idahoans Have A Job!

94.9% Of All Working Americans Are Employed!

Commercial/Retail Construction Is Booming In Treasure Valley!

Roads Are Being Improved Everywhere To Accommodate Our Growth!

Meridian School District Will Soon Open Five New State-Of-The Art Schools!

Am I the only one who’s fed up with the endless negative news in the media?

You loyal readers know that I am anything but a real estate cheerleader.

If anything, I am the anti-cheerleader.

I simply publish the facts and leave it up to you, my readers, to draw your own conclusions.

That said, I am growing weary of the endless drumbeat of everything being cast negatively.

Am I the only one who’s sick of the negative bias in news reporting these days?

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Phil Hoover
Real Estate Broker
Phil Hoover, Inc

BoiseBlog.com


(208) 938-5533

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