Trina Travess

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Existing-Home Sales Vaulted 9.5% in February, Largest Monthly Increase in a Year Additional housing supply is helping to satisfy market demand, which has been on a steady rise due to population and job growth.

Great price. Motivated seller. Anyone interested?

Sixteen 'New Orleans style' live-work units approved in Garden City A piece of the French Quarter could be coming to Garden City.  Earlier this week, the Garden City Design Review Committee gave a thumbs up to a project from former mayoral candidate Hannah Ball to develop a 16-unit live-work style project at 213 and 215 34th Street near the Boise River. The project...

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On-time rent payments can now help you get a home loan!

Fannie Mae (the government agency that backs many mortgage loans) will now use on-time rent payments as a factor when granting a mortgage. Fannie Mae estimates that 17% of previously denied applications could have been approved if rent payments were considered, so the change promises to help a lot of homebuyers.

Though they have always documented rent payments as part of the application process, they can now make up for insufficient credit accounts and add real merit toward approval.

If you or someone you know has put off homeownership for fear of inadequate credit, it may be worth taking a second look.

ADA COUNTY INVENTORY ROSE IN JUNE AS HOME SELLERS CAPITALIZE ON HIGHER PRICES

The median sales price for homes in Ada County reached $525,000 in June, nearly even with May 2021.

While our region has faced insufficient supply for years — the main driver of home prices — June marked three consecutive months of inventory growth. While still low compared to previous years, there were 729 homes available for sale at the end of the month, up 27.9% from May.

For sale $499,900. New beautiful home. Open floor plan with 3 Bedrooms 2 baths. 1734 sq. ft. Kitchen has nice cabinets, granite counter tops and island bar. Stainless steel gas appliances. Oversize 2 car Garage. Large cement patio off sliding glass door. Mud bench by garage entry door. You can move in now! Community pool and exercise room! 10 year home warranty. Energy Star efficiency rating saves on power costs. MLS98799307. 7698 S Sea Breese Way Boise ID. Epic Realty 3573 E Longwing Ln #210 Meridian ID 83642

For Sale in BanBury Golf Couse. $1,200,000
Beautiful custom built home with view of the 8th hole. Craftsman wood work throughout. Custom cabinetry, gourmet kitchen with granite countertops, 5 burner Gas stove, double oven, convection oven, eating bar. Grand master suit with wet bar, gas fireplace, huge walk in closets, stackable washer & dryer, sitting area and hot tub. 3 bedrooms with own bath. Fully contained Apartment/mother-in law quarters on main level. Office. Two balconies. 2 car garage, bonus garage & Huge RV bay. Elevator! To much to list! Pick your paint & carpet! MLS98800286. 147 Oakhampton Dr Eagle ID. EPIC REALTY 3573 E Longwing Ln #210 Meridian ID 83642.

BOISE MARKET UPDATE.

Idaho Housing has great home loans available for hero's

Help Available For Idaho Renters
Help us make sure these valuable resources are directed to renters in need


Hello,

We are reaching out to be sure you are aware of this valuable program aimed at helping renters affected by the COVID-19 pandemic and related economic crisis. The Housing Preservation Program (HPP) is available only to Idaho renters and provides assistance not only for rent, but utilities as well.

If you know anyone who needs assistance, please share this information with them.

(Informational flyer)

To learn more about the Housing Preservation Program and its eligibility requirements, click here or go to idahohousing.com/covid-19.

A call-line (1-855-452-0801) is available to applicants in need of assistance with submitting an application. You may be able to assist applicants by making a phone available for call line access, providing internet access, scanning documents and/or submitting documents to IHFA via fax.

The following resources are available for you when messaging your clients. If there is anything else we can provide to assist with this effort, please let us know by emailing [email protected].

COVID-19 resources for our customers and partners - Idaho Housing and Finance Association Information about Covid-19 to help support our Idaho Housing and Finance customers. This page will answer many of the questions we have been receiving.

In most of the U.S., the 2020 maximum conforming loan limit is up from 2019’s level of $484,350. This marks the fourth straight year that the FHFA has increased the conforming loan limits after not increasing them for an entire decade from 2006 to 2016.
Happy Thanksgiving!

IT'S Time to BUY or INVEST! GREAT INTEREST RATES!
Mortgage rates continue holding steady as we head into October. The 30-year fixed mortgage rate averaged 3.64% for the week ending September 26, a slight drop from 3.73% prior week. By contrast, mortgage rates stood at 4.72% a year ago, over a full percentage higher than today. The historic low for 30-year rates was 3.31% in November 2012.

Ada County New Construction.

After declines in the May to June time period,
July set the stage for a real estate activity rally.

First, building permits were up 34 percent from the month prior representing a gain of nearly 62 percent from a year ago.

New home sales dipped just slightly but held steady at 429 units as builders struggle to keep up with demand; new home sales were up last month versus July
2018 by nearly 10 percent.

ADA COUNTY REAL ESTATE UPDATE
Existing home sales increased by nearly five percent and are mostly inline
with the year-ago time period at 1,212 units. Once again, average days on market shrank to 31 days versus 33 in June 2019.
In the year-ago time period, inventory looks to be slightly better against the 28 DOM we endured during July 2018. The average Ada/Canyon sales price fell for the
first time in six months albeit by under one percent to settle at $335,253.
The average sales price in Ada and Canyon was $391,056 and $279,450,
respectively.
Rounding out the rally for this month was refinance activity
which posted a whopping 30 percent gain from the month prior with 1,563 filings. We expect refis to continue their upward trend going into August
and September.

For Sale. $649,000. 5 beds 3.5 baths. 3744 Sq. Ft. Two story on 1 Acre. MLS 98732799. 10055 Duck Lane Nampa Idaho. Lake Lowell is less than 2 minutes for boating, fishing, & recreation. Beautiful custom home with 2000 sq. ft. shop. Formal Living & Dining Room. Large Master bedroom & bath with jetted tub, office, 2 family rooms, game room, kitchen with island, granite counters & new appliances. New furnace & heat pump. New paint & carpet. Must see this gorgeous home by the lake.

For Sale $289,000. MLS 98732792. COZY LOG HOME!. Wood interior walls are beautiful! 2 Bedrooms. Master on the main. Twin bed in loft area. 2 full baths. Claw bathtub. Big kitchen with lots of cabinets. Covered front & back porch. Room attached to garage could be a bedroom, shop or office. Individual well and septic. Large deck. Irrigation. RV parking. Room for all your toys. Fire protection, cable & internet available. Ride ATV's from your house. Year around recreation wonderland. Pan for Gold in creek across the field. .70 acres. No HOA's. 7 Miles North of Idaho City. One hour drive from Boise.

Rate Increases:

Rates are at a 14 month low: Here is how buying power changes if rates increase by .5%
Purchase Price - $320,000 – Loan Amount is $256,000
Rate for this example is 4.75% = Principal and Interest Payment of $1335
Rate increases .5% to 5.25% making the Principal and Interest Payment = $1413 ($78 increase for .5% in rate)
Purchase Price - $340,000 – Loan Amount is $272,000
Rates for this example is 4.75% = Principal and Interest Payment of $1418, so if rates increase by .5%, buyers lose $20k in buying power and the purchase prices goes back to $320,000.

Purchase Price Increases:

As a Reminder: For every $10,000 borrowed the payment changes approx. $60 per month. As purchase prices increase this results in a decrease in buying power.
For example if the market appreciates 7% this year, and we have a purchase price of $320,000 today, that makes the future est. purchase price $342,400. The result is a payment increase for your buyers (if not putting additional money down) by $112 per month.

Beautiful home for sale. 1669 sq. ft. 3 bedrooms 2 baths. Spacious open floor plan. Separate 13 x 10 office/bonus room. Many windows provide rays of natural light. Hardwood floors thru-out. 710 S Torino Ave Meridian Idaho. $319,900.

Boise Regional REALTORS®

MARKET REPORT
March 2019

NEW CONSTRUCTION HOME SALES AND MEDIAN HOME PRICES CONTINUE TO CLIMB IN ADA COUNTY

As reported last month, new construction sales are gaining more and more of the total market share in Ada County. Since new homes generally sell for more than existing homes, new home sales continue to have a greater impact on the overall median sales price. In February 2019, new construction sales made up 38.7% of all home sales in Ada County. In March 2019, that share increased to 39.8% resulting in an overall median sales price of $335,000, an increase of 8.4% year-over-year and a record high for Ada County.

In the existing home segment, the median sales price has been rising due to persistent lack of supply, especially in the lower price points. This pushed the median sales price for existing homes in Ada County to $309,900 in March 2019, an increase of 6.9% year-over year and a record high for the county.

1016 N 15th St. $749,900 4 beds 3.5 baths 2422 Sq. Ft.
Loaded with tons of detail this extensively remodeled “new” home. You’ll love all the modern amenities blended with restored light fixtures, custom woodwork and stained-glass windows which add the character. Improvements include main floor master w/heated tile floors, an upstairs’ master, an adorable studio cottage and off-street parking! Epic Realty.

Beautifully renovated and diligently maintained. Open floor plan w/ vaulted ceilings, new flooring, paint, HVAC, light fixtures, Nest WiFi thermostat. 4-car, insulated garage with utility sink. Covered patio, no rear neighbors. $338,000. 1791 Sq. Ft. 3 bed 2 bath. Epic Realty.

Townhouse in Star Idaho. $284,900. 1704 sqft. 3 beds 2.5 baths. 2 car garage. Property may be eligible for 0% down 100% financing!! For a limited time developer willing to pay the lesser of 3% or $6,000 in closing costs. Pinewood Lakes Villas - 20 highly customized, beautifully detailed townhouses. 6 different floor plans with generous room sizes, beautiful tile & hardwood, cabinetry and wonderful architectural details. Pool and RV parking included along with low maintenance fees. Care free living at its best. Great chance to have a quality home from respected builder Todd Campbell.

CONDO on the Bench in Boise. $178,000 2 bed 2 bath. 960 sq.ft. Built in 1997. Split floorplan with two master bedrooms and large closets makes this upper unit feel spacious, with all new paint, flooring, faucets and lighting fixtures adding to the bright, open-concept feel. Kitchen features new SS appliances, sink and faucet, with interior w/d hook-ups. The exterior space includes a large storage closet. This unit hits all the right points for location and convenience.