J. Kent Erickson, Broker Associate
Direct / 208.447.7848

The #1 Reason It Is Difficult to Find Your Dream Home

Posted by on Feb 26, 2020 in Real Estate Market | 0 comments

The headlines in real estate today all revolve around one major point: there is a shortage of homes available for sale. Price appreciation is accelerating again because there is a shortage of homes available for sale. First-time buyers are taking longer to purchase a home because there is a shortage of homes available for sale in the lower price points. Boomers are staying in their current homes longer because there is a shortage of homes available for sale to which they would move. In certain markets, affordability is becoming more challenging because there is a shortage of homes available for sale. What’s the major reason for this lack of housing inventory? The issue was examined in a recent article by the National Home Builders Association (NAHB). In the article, Robert Dietz, Chief Economist for NAHB, explained: “Home building in the 2010s was a story of the Long Recovery. After the Great Recession,...

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Should I Sell My House This Year?

Posted by on Feb 19, 2020 in Selling a Home | 0 comments

If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Survey from the National Association of Realtors® (NAR) should boost your confidence as it relates to the current selling sentiment in the housing market. Even with all the information overload in the media circling around talk of a possible recession, the upcoming 2020 election, and more, Americans feel good about selling a house now. That’s some news to get excited about! As the graph below shows, as of Q4 2019, 75% of people surveyed indicate they believe now is a good time to sell a home:In the case of those with a yearly salary of $100,000 or more, the results jumped even higher, coming in at an 82% positive sentiment. When the study divided the outcomes by region, the results still consistently...

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Three Reasons Why Pre-Approval Is the First Step in the 2020 Homebuying Journey

Posted by on Feb 12, 2020 in Buying a Home, Home Ownership | 0 comments

When the number of buyers in the housing market outnumbers the number of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – unless they stand out from the crowd. Here are three reasons why pre-approval should be your first step in the homebuying process. 1. Gain a Competitive Advantage Low inventory, like we have today, means homebuyers need every advantage they can get to make a strong impression and close the deal. One of the best ways to get one step ahead of other buyers is to get pre-approved for a mortgage before you make an offer. For one, it shows the...

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The New Spring Real Estate Market is Here. Are You Ready?

Posted by on Feb 5, 2020 in Real Estate Market | 0 comments

Which month do you think most people who are considering buying a home actually start their search? If you’re like most of us, you probably think the surge happens in the spring, likely in April. Not anymore. According to new research, January 2019 was only 1% behind February for the most monthly views per listing on realtor.com. So, what does that mean? The busiest season in real estate has just begun. The same research indicates, “Historically, April launched the kickoff of the home shopping season as buyers would come out of their winter hibernation looking for their new home. However, the spring shopping season now starts in January for many of the nation’s largest markets.” With the reality of fewer homes on the market in the winter, and that supply naturally increases as we head to the spring market,...

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