Beautiful end-unit condo in desirable West Boise location!
Priced To Sell ~ $127,500!
(click on the photo to view the virtual tour)
Buyers (especially first-time buyers) often think the best way to shop for a home is to drive around and call listing agents to get information about homes they think they like.
If you’re a buyer, that approach is the fastest way there is to end up with a herd of real estate agents pursuing you.
Because those listing agents will assume that you aren’t represented by your own buyer’s agent and do their best to convince you to work with them.
Those yard signs are nothing less than “bait” designed to lure you into calling the listing agent.
Driving around and calling listing agents is, by far, the most difficult way to find the right home.
The easy way to find the right home is to have your own buyer’s agent use their access to Intermountain MLS to find every available listing that matches your criteria.
Having one experienced, competent, responsive agent representing you will eliminate having to deal with listing agents frantically trying to get you to work with them.
It’s even more important to have your own buyer’s agent representing your best interests.
Because the listing agent represents the seller; not you!
That listing agent has promised to get the highest price and most favorable terms for the seller; not you!
Can you spell c-o-n-f-l-i-c-t-o-f-i-n-t-e-r-e-s-t ???????
The bottom line?
Find and hire an experienced, competent, responsive agent to represent you (and only you) as your buyer’s agent.
Then, let your buyer’s agent do the “homework” (pun intended) and search MLS for properties that match your criteria.
Doing so will make your life a lot easier, and you’ll be able to focus on the properties that are the best fit for you.
Best of all, having your own buyer’s agent costs no more because your buyer’s agent will be paid from the seller-paid commission.
Looking for that experienced, competent, responsive buyer’s agent I just mentioned?
My 44 years’ experience, combined with thousands of delighted past clients, is your assurance of exceptional service.
If you’re a serious buyer in search of strong buyer representation, give me a call at (208)938-5533 or e-mail me.
There are many, many ways to screw up your Boise home loan approval between the time you’re pre-approved and closing.
Here’s my Top Ten:
This really happened . . .
I had a buyer, a few years ago, who had been pre-approved for his loan while working at three part-time jobs.
As we approached closing, the lender discovered that he had quit those three jobs to take a full-time job with higher pay.
Sounds perfectly okay, right?
Not really, because the loan approval was based upon his previous employment.
That meant re-underwriting his loan with verification of his new job and income, which was nearly impossible because my client couldn’t produce the two pay stubs the lender needed because he hadn’t yet been paid twice.
Fortunately, the lender was able to verify his new employment and income and we closed, but we could easily have lost the transaction.
Nearly all of the newer subdivisions in the Boise real estate market have HOAs and CCRs.
CCRs (Covenants, Conditions, and Restrictions) are part of owning a home in a subdivision with a HOA (Home Owners’ Association).
Plainly stated, CCRs are “the rules” and they explain what is and isn’t allowed in a subdivision.
Amazing as it may seem, many buyers first learn about the CCRs for the home they’re buying when they get to the closing table.
I don’t work that way!
My standard practice is to provide a copy of the CCRs to my buyers before they sign an offer to purchase.
And, I strongly urge my buyers to review and understand the CCRs as part of their home buying process.
Here are a few things to look for:
This is just a sampling of things to consider.
Make sure you do your ”homework” and understand the CCRs before you make that buying decision!
If you’re a serious buyer, or a buyer’s agent, you already know how hard it is to find the right home in our current market.
I personally know this because I’m experiencing it right now with several buyers I’m working with.
As of this morning, we have 1,722 single-family homes on lot/acreage available in all of Ada County.
542 of those listings are coded as TBB (to-be-built) or UC (under construction).
Thus, those listings are essentially “vapor” for any serious buyer to wants to buy, close, and move into their new home.
That leaves 1,180 available homes in all price ranges and all areas of Ada County, spread over 17 MLS areas.
Based upon our 2015 average monthly absorption rate, we have about two month’s supply of listing inventory in Ada County.
Most real estate professionals agree that six months’ supply of listing inventory is a “balanced” market where neither buyer nor seller has the advantage.
Thus, we’re clearly in a strong “seller’s market” now.
When you filter those listings for location, square footage, bedrooms/baths, schools, single-level vs. two-level, commute distance, age, etc., it becomes nearly impossible to end up with more than a few homes to consider.
Further, we currently have nearly 1,200 pending sales, which indicates that many listings are selling as soon as they hit the market.
Our Spring market is just around the corner and it’s going to be a very busy time for buyers and their agents as they contend with other buyers for limited listing inventory.
The Fed’s recent rate increase, despite not affecting mortgage rates (yet), has gotten many fence-sitters off the fence and actively into the market.
We’re also see strong demand in the under $200,000 price range with first time buyers taking advantage of our still-attractive interest rates and financing options.
And, we’re also seeing more “boomerang buyers” re-enter the market after recovering from the short sales, foreclosures, and damaged credit they experienced during the market crash a few years ago.
Despite these challenges, I have been (mostly) able to find good properties for my buyers, but it hasn’t been easy.
Buying a home in this market requires upfront loan pre-approval, quick decisions, and the realization that you may end up competing with other buyers to get the home you want.