J. Kent Erickson, Broker Associate
Direct / 208.447.7848

House Prices: Simply a Matter of Supply & Demand

Posted by on Jun 22, 2018 in Uncategorized | 0 comments

House Prices: Simply a Matter of Supply & Demand Why are home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of “supply and demand” which is defined as: “the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.” When demand exceeds supply, prices go up. This is currently happening in the residential real estate market. Here are the numbers for supply and demand as compared to last year for the last three months (March numbers are not yet available): In each of the last three months, demand (buyer traffic) has increased as compared to last year while supply (number of available listings) has...

Read More

VA Loans by the Numbers

Posted by on Jun 20, 2018 in Uncategorized | 0 comments

VA Loans by the Numbers [INFOGRAPHIC] Some Highlights: Since the creation of the VA Home Loans Program, 22 million veterans have been able to achieve the American Dream of homeownership. In 2017, $188 billion was loaned to veterans and their families through the program. VA Purchase Loans are on the rise in 46 out of 50 states and Washington,...

Read More

Boomerang Buyers: Most Qualify for Financing in 2-3 Years

Posted by on Jun 18, 2018 in Uncategorized | 0 comments

Boomerang Buyers: Most Qualify for Financing in 2-3 Years According to a new study from Lending Tree, Americans who have filed for bankruptcy may be able to rebuild enough credit to qualify for a home loan in as little as 2-3 years. This is in stark contrast to the belief that many have that they need to wait 7-10 years for their bankruptcies to clear from their credit reports before attempting to apply for either a mortgage or a personal or auto loan. The study analyzed over one million loan applications for mortgages, personal, and auto loans and compared borrowers who had a bankruptcy on their credit report vs. those who did not to find out the “Cost of Bankruptcy.” The study found that 43.2% of Americans who filed bankruptcy were able to repair their credit back to a 640 FICO® Score in...

Read More

What Should You Look For in Your Real Estate Team?

Posted by on Jun 15, 2018 in Uncategorized | 0 comments

What Should You Look for In Your Real Estate Team? How do you select the members of your team who are going to help make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender? The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market. As the financial guru Dave Ramsey advises: “When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.” Do your research. Ask your friends and family for recommendations of...

Read More

NOT Owning Your Home Can Cost You a Lot of Money!

Posted by on Apr 26, 2018 in Uncategorized | 0 comments

NOT Owning Your Home Can Cost You a Lot of Money! Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Realtor.com recently reported that: “Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option… as people get more savings in their pockets, buying becomes the better option.” What proof exists that owning is financially better than renting? 1. In a previous blog we highlighted the top 5 financial benefits of homeownership: Homeownership is a form of forced savings. Homeownership provides tax savings. Homeownership allows you to lock in your monthly housing cost. Buying a home is cheaper...

Read More

The Cost of Renting vs. Buying Today

Posted by on Apr 24, 2018 in Uncategorized | 0 comments

The Cost of Renting vs. Buying Today [INFOGRAPHIC] Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this...

Read More