J. Kent Erickson, Broker Associate
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Mortgage Rates: What Experts Say

Posted by on Mar 31, 2017 in Mortgage & Finances | 0 comments

What Are the Experts Saying about Mortgage Rates? Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what experts are saying: Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center: “In 1984, 1994, 2000, and 2013, every time we have rate increases, we have increases in nominal home prices. We expect this to be more pronounced, as there is a big demand-and-supply gap at the present time.” Scott Anderson, Chief Economist for Bank of the West: “The tightening labor market, rising wage growth, high levels of consumer confidence and a millennial generation with a pent-up demand for housing should allow the housing market to weather the storm of gradually rising interest rates.” Ivy Zelman...

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10 Years Later: The Foreclosure Crisis

Posted by on Mar 30, 2017 in Mortgage & Finances | 0 comments

The Foreclosure Crisis: 10 Years Later CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day. With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis. Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say, “The country experienced a wild ride in the mortgage market between 2008 and 2012, with the foreclosure peak occurring in 2010. As we look back over 10 years of the foreclosure crisis, we cannot ignore the connection between jobs and homeownership. A healthy economy is driven by jobs coupled with consumer confidence that usually leads to homeownership.” Since the peak, foreclosures have been steadily on...

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Idaho Housing Market Snapshot – March 29, 2017

Posted by on Mar 29, 2017 in Real Estate Market | 0 comments

Midweek Snapshot – March 29, 2017 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 Active & Pending Single Family Homes in Idaho as a whole as well as city specific numbers. Check out Vol. 6: Idaho Housing Market Snapshot – March 29, 2017 Featured Property: 9200 W. Avalanche Court | Boise View Tour: http://www.tourfactory.com/idxr1716182 The midweek Idaho Market Snapshot – March 29, 2017 –  includes: Boise, Meridian, Eagle, Nampa, Kuna, Caldwell, and McCall plus Moscow and Pocatello! 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...

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Supply and Demand in the Real Estate Market [INFOGRAPHIC]

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

How Low Supply and High Demand Impacts the Real Estate Market: Some Highlights: The concept of Supply and Demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high! Anything under a 6-month supply is a Seller’s Market! There has not been a 6-months inventory supply since August 2012! Buyer Demand continues to outpace Seller...

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Whose Mortgage are You Paying?

Posted by on Mar 27, 2017 in Buying a Home | 0 comments

Renting or Buying… Either Way You’re Paying a Mortgage: There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained this month in their article, “12 Practical Steps to Getting Rich”: “While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.” Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a...

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