Your Meridian Idaho Home Has Many Values

You might be surprised to learn that your Meridian Idaho home has many different values, including:

What You Think Your Home Is Worth

All of us, including me, think we have the nicest home in our respective neighborhoods.

Your home is special and valuable to you because you’ve made it what it is.

What Buyers Think Your Home Is Worth

Buyers view your home differently than you do.

Buyers usually evaluate your home using (often questionable) information they’ve seen on the internet.

What The Appraiser Thinks Your Home Is Worth

The appraiser will value your home using factual data from comparable closed sales of other Meridian Idaho homes.

It’s important to realize that an appraisal is a subjective “opinion of value” based upon the appraiser’s interpretation of comparable sales data.

The appraiser is hired by the buyer’s lender to determine if your home’s value is adequate for the intended financing.

That appraised value is not necessarily true market value.

What The Tax Assessor Thinks Your Home Is Worth

The tax assessor determines the assessed value of your home using entirely different methods than those used for lending appraisals.

Idaho assessed values are determined once a year with the assessor’s unique formula.

In my experience, assessed values are usually lower than market value in rising markets and above market value in declining markets.

What The Internet Thinks Your Home Is Worth

Various internet real estate portals claim they can figure out the value of your home using a computer that has never seen your neighborhood or your home.

That process is an AVM (automated valuation method) that often generates inaccurate estimates of market value in Idaho.

Those computers have no idea if your home is in model home condition, or if it’s a dump.

They also don’t know if your neighborhood is pristine, or full of neglected rentals with abandoned furniture sitting in driveways.

Those real estate portals are in the “lead” business; not the real estate business.

They display enticing, limited listing information, then capture your contact information when you register to view listings.

Then, you become a “lead” and your contact information is sold to real estate agents.

What Your Neighbor, Bob, Thinks Your Home Is Worth

Your neighbor, Bob, thinks he knows everything about real estate and what your home is worth.

Bob has a vested interest in seeing your home sell for more than it’s worth because he thinks that will increase the value of his home.

And, Bob is probably also certain that his home is worth even more than yours.

Finally, Bob probably isn’t a skilled, experienced Realtor® who knows the true value of your home.

Don’t listen to Bob when you’re preparing to sell your home.

(sorry Bob!)

What A Listing Agent Thinks Your Home Is Worth

Some listing agents will tell you what you want to hear to get your listing.

In real estate, we call that “buying the listing”.

The problem with that concept is that your listing agent isn’t going to buy your home.

Your home is worth what a willing, qualified buyer will pay for it – period!

Don’t list your home with a listing agent who promises you an unrealistic asking price.

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Thinking of selling?

Ready for some no-BS straight talk vs. the usual sales talk?

Give me a call at (208)938-5533 and let’s talk!

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Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.

During his 45 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S.

Phil is one of only ten local Realtors® (of nearly 5,600) honored with the coveted “Realtor® Emeritus” award from the National Association of Realtors®, recognizing 40 years in real estate.

 

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Boise Homes: Please Don’t Let The Cat Out

There are a lot of Boise homes for sale and many are offered by sellers who have pets.

If you’re a seller with pets, there are some situations  that you shouldn’t put yourself or buyers’ agents through.

The following is a classic (true) example of what can happen when pets are present in a Boise home listed for sale.

A couple of years ago, I set an appointment to show a home in West Boise to one of my best repeat clients.

The listing included agent remarks that went something like “Please do not let FooFoo the cat out”.

Naturally, when I opened the front door, fluffy 15 lb. FooFoo darted between my legs and ran down the street.

The sellers weren’t home and the situation quickly spiraled out of control with my buyers’ two sons chasing the cat all over the neighborhood while yelling “Here FooFoo” at the top of their lungs.

My buyers were very distracted by the commotion and the showing turned into a disaster.

Ultimately, we failed to retrieve FooFoo and I called the listing agent and informed her that FooFoo was now her problem.

I’ve been through similar situations with sellers’ dogs, including being bitten twice by supposedly harmless, “friendly” dogs.

If you’re a seller, confine or remove your pets before showings!

Buyers, and their agents, are often reluctant to enter homes when a pet is present and not confined.

I’m one of those agents!

The risks of losing showings or losing a sale far outweigh buyers and their agents having to deal with your pets when you’re trying to sell your home.

Worse yet, consider what will happen if your pet injures a prospective buyer’s young child who thought it was okay to pet them.

_______________________________________________________

Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.

During his 45 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S.

Phil is one of only ten local Realtors® (of nearly 5,600) honored with the coveted “Realtor® Emeritus” award from the National Association of Realtors®, recognizing 40 years in real estate.

 

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39 Common Seller Challenges To A Smooth Closing

As I’ve mentioned before, I earn my commission when a transaction goes into escrow.

Here are 39 common seller challenges that I often must overcome to get a transaction closed.

Believe it or not, I’ve dealt with almost all of these items over my 44-year real estate career!

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  1. The preliminary title search reveals liens against the property for back child support, unpaid property taxes, IRS, and state taxes totaling more than the net proceeds from the sale.
  2. Seller’s ex is on title and hasn’t signed the listing or purchase and sale agreement.
  3. Seller’s soon-to-be ex says she won’t sign off for closing unless she gets another $10,000.
  4. Seller loses motivation to sell because his job transfer fell through during escrow.
  5. Sellers, during escrow, decide not to sell because they got back together and canceled their divorce.
  6. Sellers refuse to adjust the sales price to the appraised value that is $25,000 less than the sales price.
  7. Sellers decide they can’t close because they can’t find another property they like.
  8. Sellers believe they know what the property is worth and refuse to allow access for the appraisal.
  9. Sellers are “too busy” to allow the home inspector access to the property.
  10. Sellers block access to the crawlspace and attic to prevent the home inspector from inspecting those areas.
  11. The home inspector discovers black mold and grass growing in the crawlspace due to a plumbing leak that has existed for several years.
  12. The home inspection is done during a heavy rain, and the inspector discovers water running into the crawlspace during the inspection.
  13. The home has a septic system and the seller’s wife notices liquid sewage bubbling up around her feet while taking a shower, two hours before the buyers are coming to do their walk-thru prior to closing.
  14. Sellers refuse to accept the home inspector’s findings as valid.
  15. Sellers remove the ceiling fan, draperies, and drapery rods because they “need them” for their next home.
  16. Sellers have never cleaned their gutters, the storm of the century happens, the gutters overflow and flood the crawlspace, requiring the installation of a $4,500 drain system prior to closing.
  17. Sellers can’t come up with the money to pay off the husband’s child support lien.
  18. The sellers are not on title for the property being sold (grandma will never know because she’s in the nursing home).
  19. The home inspector discovers standing water on a window sill and baseboard while inspecting on a rainy day, revealing water damage and mold in the wall beneath the window.
  20. Grandma Gracie is half-owner of the property and doesn’t think it’s a good idea for the kids to sell it.
  21. Sellers are in the middle of a divorce with no final written agreement about selling their home.
  22. One of the sellers is deceased and probate has not been completed.
  23. Elderly sellers are not mentally competent to enter into a contract.
  24. Sellers leave trash and personal property on the property when they move out.
  25. Seller’s turn off utilities before the buyer’s walk-thru, the gas company re-inspects as part of restoring gas service, and finds that the water heater will not light.
  26. The home inspector discovers severe freeze damage to the landscape sprinkler system caused by the seller’s failure to properly winterize the system.
  27. Sellers refuse to make repairs for deficiencies found in the home inspection.
  28. Sellers say needed repairs are “not their problem” because the problems existed when they bought the home.
  29. Sellers think the deal is done after accepting an offer and leave on a “road trip” without leaving any contact information.
  30. Sellers underestimate the difficulty of their move and fail to move out by closing.
  31. Sellers want to remain in the property after closing without compensating the buyers.
  32. Sellers remain in the property after closing with no post-possession occupancy agreement, then refuse to move, requiring the buyers to evict them.
  33. Sellers make repairs that aren’t required, then demand reimbursement as a condition of closing.
  34. Sellers’ closing for their next home is delayed and they refuse to move by the closing date.
  35. Sellers says “the roof’s just fine!” when the FHA appraiser requires a roof certification for the 30-year old roof that has shingles rated for a 20-year life.
  36. Seller’s lender files foreclosure three days before closing.
  37. Seller owes more than the property is worth and is unable to pay off the existing loans at closing.
  38. Seller’s stated four-bedroom home is actually a two bedroom home with two basement rooms lacking legal ingress/egress.
  39. Seller refuses to adjust the sales price to the appraised value and buyer refuses to pay the difference.

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Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.

During his 44 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S.

Phil is one of only ten local Realtors® (of nearly 5,500) honored with the coveted “Realtor® Emeritus” award from the National Association of Realtors®, recognizing 40 years in real estate.

 

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When You Hire The Wrong Meridian, Idaho Listing Agent

If you’re a seller, life can become frustrating when you hire the wrong Meridian, Idaho listing agent.

There are some predictable outcomes when you list your home with the wrong listing agent, including:

Unanswered Phone Calls

There’s little excuse for your agent not answering their phone.

Unfortunately, many agents let calls go to their voicemail, then respond when they “get around to it”.

What’s so difficult about answering your phone when it rings?

Unreturned Phone Calls

It’s simple business courtesy for your listing agent to promptly return phone calls.

Your listing agent should be able to return your calls within an hour or two in most instances.

There’s no excuse for your agent not returning your call the same day.

Unanswered e-mails and Texts

Most agents have smartphones with e-mail forwarding now.

That means their smartphone beeps, buzzes, or sings a ringtone to them when they get an e-mail from you.

Your agent should respond to the stimulus of the beep, buzz, or ringtone and at least let you know they received your e-mail or text.

No Preparation Advice

Competent, experienced listing agents possess valuable insights about how potential buyers will view your home.

Your listing agent should provide suggestions on how to prepare your home for sale.

No Internet Presence

90% (or more) of all buyers begin their home search on the internet.

If your listing agent is clueless about the internet, few buyers will ever know about your home.

Your listing agent should have their own website; not just a business card web page on their broker’s website.

Your home will not be found on the internet if your listing agent lacks a strong internet presence.

Your listing agent must also respond promptly to website inquiries about your home.

Internet inquiries are like fruit ~ they’re perishable!

No Flyers

When driving around the Boise real estate market, you’d think empty flyer boxes are a requirement.

You absolutely need a flyer box, and it needs to have flyers in it!

Buyers want to be able to pull a flyer and know what’s inside your home without having to talk with an agent.

No Showings

It’s a red flag warning if your home isn’t being shown to prospective buyers.

Something is definitely wrong when your home isn’t being shown.

It could be your price, your neighborhood, market conditions, poor marketing, lack of a lockbox, or other reasons.

Your agent should be able to identify why your home isn’t being shown and advise you how to correct the problem(s).

Your Home Doesn’t Sell

If your home is properly priced and prepared for sale, it will sell in our current active market

If you’re not getting offers, evaluate your agent and yourself for the reasons why.

 _______________________________________________________

Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.

During his 44 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S.

Phil is one of only ten local Realtors® (of nearly 5,500) honored with the coveted “Realtor® Emeritus” award from the National Association of Realtors®, recognizing 40 years in real estate.

 

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What Happens When You Hire The Wrong Listing Agent

If you’re a seller, life can become frustrating when you hire the wrong listing agent.
There are some predictable outcomes when you list your home with the wrong listing agent, including:

Unanswered Phone Calls

There’s little excuse for your agent not answering their phone.
Unfortunately, many agents let calls go to their voicemail, then respond when they “get around to it”.
What’s so difficult about answering your phone when it rings?

Unreturned Phone Calls

It’s simple business courtesy for your listing agent to promptly return phone calls.
Your listing agent should be able to return your calls within an hour or two in most instances.
There’s no excuse for your agent not returning your call the same day.

Unanswered e-mails and Texts

Most agents have smartphones with e-mail forwarding now.
That means their smartphone beeps, buzzes, or sings a ringtone to them when they get an e-mail from you.
Your agent should respond to the stimulus of the beep, buzz, or ringtone and at least let you know they received your e-mail or text.

No Preparation Advice

Competent, experienced listing agents possess valuable insights about how potential buyers will view your home.
Your listing agent should provide suggestions on how to prepare your home for sale.

No Internet Presence

90% (or more) of all buyers begin their home search on the internet.
If your listing agent is clueless about the internet, few buyers will ever know about your home.
Your listing agent should have their own website; not just a business card web page on their broker’s website.
Your home will not be found on the internet if your listing agent lacks a strong internet presence.
Your listing agent must also respond promptly to website inquiries about your home.
Internet inquiries are like fruit ~ they’re perishable!

No Flyers

When driving around the Boise real estate market, you’d think empty flyer boxes are a requirement.
You absolutely need a flyer box, and it needs to have flyers in it!
Buyers want to be able to pull a flyer and know what’s inside your home without having to talk with an agent.

No Showings

It’s a red flag warning if your home isn’t being shown to prospective buyers.
Something is definitely wrong when your home isn’t being shown.
It could be your price, your neighborhood, market conditions, poor marketing, lack of a lockbox, or other reasons.
Your agent should be able to identify why your home isn’t being shown and advise you how to correct the problem(s).

Your Home Doesn’t Sell

If your home is properly priced and prepared for sale, it will sell in our current active market
If you’re not getting offers, evaluate your agent and yourself for the reasons why.

 _______________________________________________________

Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.
During his 44 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S.
Phil is one of only ten local Realtors® (of nearly 5,500) honored with the coveted “Realtor® Emeritus” award from the National Association of Realtors®, recognizing 40 years in real estate.
 

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