J. Kent Erickson, Broker Associate
Direct / 208.447.7848

Here Comes the Housing Inventory!!

Posted by on Dec 29, 2016 in Real Estate Market | 0 comments

Here Comes the Housing Inventory!! Almost every real estate conversation revolves around the continuous rise in house values over the last four years. Some have even mentioned a concern about another possible bubble forming. However, the recent increase in prices can be attributed to a very simple principle: supply and demand. DEMAND Demand for single-family housing has continued to increase as the economy slowly moves forward. Recent surveys have shown that over 80% of each generation still believes that homeownership is a part of the American Dream. And a recent Gallup survey showed that Americans believe that real estate is the best long-term investment. SUPPLY Over the last several years, many homeowners were unable to put their homes on the market for an assortment of reasons (family finances, no or limited equity in the home). There has been a pent-up supply of sellers...

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Thinking of Selling? 5 Reasons You Shouldn’t “For Sale by Owner” (FSBO)

Posted by on Dec 22, 2016 in Selling a Home | 0 comments

Thinking of Selling? 5 Reasons You Shouldn’t FSBO In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers. Here are the top five reasons: 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner: The buyer who wants the best deal possible The buyer’s agent who solely represents the best interest of the buyer The buyer’s attorney (in some parts of the country) The home inspection companies, which work for the buyer and will...

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When Is a Good Time to Rent? Not Now!

Posted by on Dec 15, 2016 in Buying a Home | 0 comments

When Is a Good Time to Rent? Not Now! People often ask if now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent. The Census Bureau recently released their third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today: As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with the decision of whether you should renew your lease or not, you might be pleasantly surprised at your ability to buy a home of your own instead. Bottom Line One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If...

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Homeownership Builds Wealth & Offers Stability

Posted by on Dec 15, 2016 in Real Estate Investments | 0 comments

Homeownership Builds Wealth & Offers Stability The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are: They want the opportunity to build equity. They want a stable and safe environment. Building Equity John Taylor, CEO of the National Community Reinvestment Coalition, explains that those who lack the opportunity to become homeowners have a weakened ability to reinvest their wealth: “We traditionally have been huge supporters of homeownership. We see it as a way to provide stability for households but also as an asset-building strategy. If you continue to be a renter, locked out of the homeownership arena, increasingly those things are further and further out of reach. They’re joined at the hip. They perpetuate each other.”  Family Stability Does owning your home really create a more stable...

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The #1 Reason to Sell Now… Not Next Spring

Posted by on Dec 14, 2016 in Selling a Home | 0 comments

The #1 Reason to Sell Now… Not Next Spring The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases. According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2016: Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense. Bottom Line The reason to sell now is because buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position...

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