J. Kent Erickson, Broker Associate
Direct / 208.447.7848

Upgrading or Downgrading: This Might be the Time to Go!

Posted by on Feb 28, 2017 in Real Estate Market | 0 comments

How Long Do Most Families Stay in Their Home? The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%. Why the dramatic increase? The reasons for this change are plentiful! The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move. With home prices rising dramatically over the last several years, 93.7% of...

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Sales Reach Highest Mark Since 2007 [Infographic]

Posted by on Feb 27, 2017 in Real Estate Market | 0 comments

Existing Home Sales Reach Highest Mark Since 2007 [INFOGRAPHIC] Highlights: Sales of existing homes reached the highest pace in a decade at a seasonally adjusted annual rate of 5.69 million. January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900. NAR’s Chief Economist, Lawrence Yun had this to say, “Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a...

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Planning to Buy a Home This Year?

Posted by on Feb 23, 2017 in Buying a Home | 0 comments

Are You 1 of the 59 Million Planning to Buy a Home This Year? According to a survey conducted by Bankrate.com, one in four Americans are considering buying a home this year. If this statistic proves to be true, that means that 59 million people will be looking to enter the housing market in 2017. The survey also revealed 3 key takeaways: Those most likely to buy are ‘Older Millennials’ (ages 27-36) or ‘Generation X’ (ages 37-52) Minorities, particularly African-Americans, were twice as likely to respond that they were considering purchasing a home this year than white respondents. Many potential buyers believe they need to put 20% down and need to have perfect credit to own and are unaware of programs that would allow them to buy now. Holden Lewis, a mortgage analyst for Bankrate.com, pointed to one big reason why many Americans are starting...

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Idaho Housing Market Snapshot – February 22, 2017

Posted by on Feb 22, 2017 in Real Estate Market | 0 comments

Whether you’re ready to start looking for your dream home or you’re thinking it might be time to sell your home, knowing what’s going on in the real estate world is definitely a good place to start! Our Idaho Housing Market infographic offers a quick summary of Idaho as a whole as well as city specific numbers. Check out Vol. 1: Idaho Housing Market Snapshot – February 22, 2017 The midweek Idaho Market Snapshot – February 22, 2017 –  includes: Boise, Meridian, Eagle, Nampa, Kuna, and Caldwell plus Moscow, McCall, and Twin Falls! Interested in purchasing or listing a home? Want to know what your neighborhood market is? Feel free to contact us any time!  *Information is for Reference Purposes...

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Access: Let Them See What You Have

Posted by on Feb 22, 2017 in Uncategorized | 0 comments

Access: A Key Component in Getting Your House SOLD! So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process, and they have asked you what level of access you want to provide to potential buyers. There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access that you can provide to your agent so that he or she can show your home. Here are five levels of access that you can give to buyers, along with a brief description: Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience. Providing a Key to the Home – although...

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