Realtors give
With the celebration of Christmas and Hanukkah both this weekend is seems appropriate to address the spirit of giving. Your Coeur d’Alene Association of Realtors members have been out ringing bells for the Salvation Army, donating gifts to the elderly and indigent and volunteering in ways we hope will make …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 4 MONTHS AGO
Some buyers lose interest
We previously noted here that six consecutive weeks of mortgage rate increases have yet to show any impact on home sales in the Coeur d’Alene Multiple Listing Service reports. As illustrated by the gains and appreciation of prices across the board we ended November very strong. Now, it seems with …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 4 MONTHS AGO
No interest in interest rates?
Six consecutive weeks of increasing mortgage interest rates may have an impact on the real estate market but you can not see it in our most recent statistics. On Friday staff at the Coeur d’Alene Association of Realtors’ Multiple Listing Service showed a market that is steadily growing. Just take …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 4 MONTHS AGO
Protect your worthy investment
We may have become complacent with milder than usual weather so far this year. This weekend’s weather serves as a reminder that it does get cold here and can stay cold for extended periods of time. You have made a huge investment in your real estate and you want to …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 4 MONTHS AGO
Trepidation over Trump
Like it or not, a licensed real estate broker will soon be in the White House as commander in chief. Since the election, there has been much speculation about the future of our country but recent developments provide some insight into the future of the housing market. Soon to be …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 5 MONTHS AGO
Buyers concerned with mortgage rates
Many months of low, low interest rates may have encouraged some complacency with groups of real estate buyers seeing no compulsion to act but that may have changed last week. Agents report hearing concerns of buyers who are feeling a sense of urgency due to an increase of four tenths …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 5 MONTHS AGO
Growth continues
So much for the fall slowdown of the real estate market. Well into the school year, hunting season and changing colors we see activity in our local market continuing to outperform the previous year. Staff has just completed and released the latest production statistics for the Coeur d’Alene Multiple Listing …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 5 MONTHS AGO
Is your agent an expert?
It happens in every industry. Individuals wanting to impress customers may talk too much and imply that they know more than they really do. The designations we discussed previously in this column do give agents a higher level of understanding on some critical issues but may not transfer to skills …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 5 MONTHS AGO
Educated agents try harder
When looking to invest your hard earned dollars in real estate you want expert representation from your agent. For most people a real estate investment is the largest of a lifetime so getting it right is critical. Some transactions are more complicated than others and often even seasoned agents need …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 6 MONTHS AGO
Good agent, good service
We all can agree that customer service is important when deciding with whom to spend our money. When contracting for services the requirement for excellent customer service should not be any less than when shopping at your local hardware store or florist. When you are spending money with someone you …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 6 MONTHS AGO
More on closing
A couple of weeks ago we discussed the importance of final documents leading to a solid transaction without surprises. There can be so many documents involved in the process of transferring real estate that sooner or later some folks just want to get on with it. Understandable but this late …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 6 MONTHS AGO
Contrary conditions
The predominate theory about real estate is that after school starts the market slows down. Our year-to-date statistics prove that conventional wisdom may be rooted in theory rather than fact. Prices are up and activity was steady throughout September of this year. Most geographies posted gains in production and in …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 6 MONTHS AGO
Closing soon?
If you have gone through all the steps of inspection and repairs and financing has been verified you are likely looking forward to closing on your real estate transaction. At this point some people heave a sigh of relief and put their concerns aside. Not so fast.
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 7 MONTHS AGO
Mediate, arbitrate or litigate - the choice is yours
You already know we have systems in place to handle complaints when someone thinks a Realtor member may have misbehaved. When a member of the public or another member of the Coeur d’Alene Association of Realtors has a problem with a member, they have 180 days from the discovery of …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 7 MONTHS AGO
Sellers beware
No good Realtor will ever fault you for trying to go it alone when it comes to selling your own property. We admire the courage, tenacity and patience it takes to make yourself available to anyone at any time who may want to see your property. We also understand the …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 7 MONTHS AGO
Markets balance
Buoyed by continued strong growth in Post Falls and the Rathdrum area housing markets — where new construction of single family homes is booming — the Coeur d’Alene Multiple Listing Service reports Kootenai County is 7 percent above the housing sales achieved in 2015 as of the end of August. …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 7 MONTHS AGO
Signs of the times
In good and bad real estate markets you will see “For Sale” signs around your neighborhood whether you are a city dweller or you live somewhere well off the beaten path. These signs are one of the most important tools in a real estate agent’s marketing tool kit. Even though …
COEUR D'ALENE PRESS | UPDATED 8 YEARS, 8 MONTHS AGO
Early spring brings early bargain hunters
Spring has arrived in North Idaho with crocuses, daffodils and tulips popping up everywhere. With the departure of the last low level snow, folks from and foreign to North Idaho are beginning to show more interest in getting out and investing in some of the great real estate values in …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 1 MONTH AGO
Delighted with 2015
After reading last week about the closure of Vaagen Lumber’s stud mill in Usk, Wash., due to a “sluggish” housing market we were reminded again of how truly fortunate we in North Idaho have been to enjoy subsequent years of recovery. It has been our pleasure to report to you …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 4 MONTHS AGO
Give me land, lots of land
We continue to see plenty of development in Kootenai County with new homes and subdivisions cropping up all about the Rathdrum Prairie. The land there is affordable and the building easier than in the foothills of Coeur d’Alene and Hayden.
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 6 MONTHS AGO
Safety first
Last month was Realtor safety month and our members were well supplied with reminders and classes to learn self-defense and safety. The murder of Arkansas Realtor Beverly Carter was just a year ago. Now as another reminder comes news that Bill James, the lawyer for Carter’s accused killer Arron Michael …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 6 MONTHS AGO
Fall sales should be strong
There is a nip in the morning air. Kids are back in school and the leaves are beginning to turn colors. Do not let the dormancy of fall foliage set you into dormancy as well. Realtors are selling properties daily and for many, September is proving to be busier than …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 7 MONTHS AGO
Help us keep it clean
We have discussed here before the damage that can be done by alienating buyers who are expecting to see property advertised as one thing that turns out to be another. While some ads may contain honest mistakes others are obvious attempts to mislead. The Idaho Real Estate Commission is in …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 7 MONTHS AGO
Sales up 19 percent
Even with all the smoke in the air that subdued traffic the past several weeks, our local real estate market continued its solid growth. With August figures tallied, the Coeur d'Alene Multiple Listing Service reports a service area average increase of 19 percent in the number of single family homes …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 7 MONTHS AGO
Realtors vigilant regarding property rights
As Kootenai County continues to develop a Comprehensive Plan, the Coeur d'Alene Association of Realtors is taking an active role. Many of you will remember the last attempt to adopt a comp plan. Consultants were hired at tremendous expense to the county and Realtors hired a land use law firm …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 8 MONTHS AGO
Coming soon
Here it is the middle of August, the middle of the third quarter of the year. Many events will soon be upon us or behind us; some affecting Realtors, some affecting consumers, and some affecting us all.
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 8 MONTHS AGO
How high is affordable
We are enjoying a brisk real estate market and are delighted with our market improvement. We do wonder how long we can continue to post gains without pricing average folks out of the market.
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 8 MONTHS AGO
And the upBeat goes on
The August year-to-date comparisons are complete. As anticipated, the North Idaho real estate market continues to outperform the last several years of activity and prices continue to climb. It appears that shadow inventory is coming into the market albeit at a slow enough pace that it is not dampening prices. …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 8 MONTHS AGO
Easements and you
A property owner recently contacted us because he came home to find trees missing from his property. Further investigation revealed that the trees in question had been removed from an easement that had been granted to an adjoining property. That easement was to provide access to an adjoining parcel and …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 9 MONTHS AGO
Realtors honor local heroes
We are always humbled when we see our industry come together for a cause. Like no other, the real estate industry pairs competitors for a common cause creating a momentum that does a world of good for our community. While during working hours we compete for control of the same …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 9 MONTHS AGO
Real estate outlook improving
In wake of our projection last week that the market looks like it will remain strong for the near future comes news that supports that theory.
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 9 MONTHS AGO
Luxury home market coming back
Even though they account for only 1.4 percent of our total sales, the market for homes priced over a million dollars is making a strong comeback. June totals are in and so far this year we have recorded 31 sales of million dollar plus homes. Last year at this time …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 10 MONTHS AGO
Title insurance is essential
Whether working with a broker or selling your own real estate, title insurance should be a part of every transaction. If you are borrowing money to purchase the property, your lender will make title insurance a requirement.
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 10 MONTHS AGO
Are radon tests necessary?
When buying a home it is recommended that you hire a professional home inspector to determine latent defects within the home. If an inspector discovers serious problems you may ask the seller to correct the conditions, you may opt to proceed with the purchase in spite of them or you …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 10 MONTHS AGO
Competition is fierce, play fair
As the graphic shows the Kootenai County real estate market is strong. This illustrates a level of activity that leads to fierce competition among buyers, sellers and agents. Buyers are competing to be the first in line with an offer and are taking care to make their offers agreeable to …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 10 MONTHS AGO
Inventory slows sales
Even though by all accounts the market area served by the Coeur d'Alene Multiple Listing Service is brisk, the total number of sales may be affected by shortages of suitable housing. At our last market report sales of homes in Kootenai County were 21 percent ahead of last year. At …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 10 MONTHS AGO
We buck the trend
When we began this column in 2008 it was because the real estate news we were getting was contrary to our local reality. What you have been reading here over the last couple of years has been largely positive with regard to local real estate. You can imagine our surprise …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 11 MONTHS AGO
Is your agent competing with you?
Let's face it. Realtors are only human. No, really. In a market that is moving as fast as ours bargain priced opportunities do not remain on the market long. When opportunity knocks are you among the first to know? Or is your real estate agent also an investor?
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 11 MONTHS AGO
Impressive activity in early 2015
If we were to tell you it is a brisk real estate market it would be an understatement. With more than half the year left the end of April statistics have been compiled and the market continues to show signs of acceleration. Not only are homes selling faster, the volume …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 11 MONTHS AGO
Getting your offer accepted
With limited inventory and plenty of competition for those available listings many buyers are finding themselves disappointed. Offers that just a short while ago would have been welcomed are now dismissed as unworthy. Buyers who ask for closing cost assistance run the risk of competing with offers that ask for …
COEUR D'ALENE PRESS | UPDATED 9 YEARS, 12 MONTHS AGO
It is your property
So you will do whatever you want with it. Use it the way you want, build what you want and allow whomever you want to rent it or buy it. In fact, if you decide to rent it or sell it you will not do so if you do not …
COEUR D'ALENE PRESS | UPDATED 10 YEARS AGO
Easier path to home ownership?
The National Association of Realtors and the Department of Housing and Urban development agree, the way credit scores are calculated needs updating. Credit scoring companies have already taken steps to broaden the criteria to include payments for utilities and rents. Also being considered is softening the credit score penalties often …
COEUR D'ALENE PRESS | UPDATED 10 YEARS AGO
Every picture tells a story
When it comes to the residential real estate market, stories are varied. In the Coeur d'Alene Multiple Listing Service there are several stories too but they add up to a pretty positive view of local real estate. As you know every market has micro markets (neighborhoods) that make up the …
COEUR D'ALENE PRESS | UPDATED 10 YEARS AGO
Protecting the seller
The real estate market is still going strong. Mortgage interest rates dropped even further last week and are certain to get the attention of fence-sitting buyers. With even more buyers entering the market we are seeing more multiple offers. With multiple offers and back up offers on well-priced listings, how …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 1 MONTH AGO
Troops rally to defeat city
The troops we speak of are not our honorable men and women in uniform but the honorable men and women of the North Idaho Building Contractors Association, the Coeur d'Alene Association of Realtors and the National Association of Realtors.
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 1 MONTH AGO
It is about more than money
With better employment in the county and with interest rates dropping again last week, there are likely more qualified buyers in the market than at any time in recent history. The problem many of those prospective buyers are having is finding suitable properties to buy.
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 1 MONTH AGO
We are off to a good start
Figures released Friday by the Coeur d'Alene Association of Realtors Multiple Listing Service show the market moving steadily forward. On the whole, we have generated 10 percent more revenue from real estate sales than during the same period in 2014.
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 1 MONTH AGO
High tech or high touch
At the Real Estate Market Forum held at The Coeur d'Alene Resort last week, we heard that much of the "in-migration" to our beautiful county is from folks of retirement age. This caused us to wonder, "How do these folks find their homes?" The National Association of Realtors provided the …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 2 MONTHS AGO
When is it time to buy?
Most would anticipate a Realtor to say, "Right now." We all know that cannot possibly be a true answer. The truth is, there are many indicators that real estate in Coeur d'Alene and surrounding areas - as well as around the country - is anticipated to increase in price for …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 2 MONTHS AGO
Negotiating in a strong market
Regular readers know that we consider ourselves in a strong market. Of course, as with all things real estate the market is very specific to your location and although North Idaho real estate is moving at a comfortable pace, not every nook and cranny of our market is booming.
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 2 MONTHS AGO
Realtor.com to become mainstream
Changes are in store for the real estate search website, realtor.com. It was announced last week that media mogul Rupert Murdoch's News Corp. has purchased Move, Inc., the parent company of realtor.com for $950 million. This is a bargain for the site when compared to the $3.5 billion paid by …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 3 MONTHS AGO
Interest down, applications up
The average 30-year mortgage rate last week according to Freddie Mac was 3.63 percent. With the prior week's adjustment from 3.73 to 3.66 mortgage applications surged. For the week ending Jan. 9, mortgage loan applications showed a 49 percent increase over the previous week. That illustrates the largest jump in …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 3 MONTHS AGO
Things are lining up for another good year
With the terrific recap of 2014 last week, we now look ahead to see what readers can expect from the North Idaho market. With last year's new construction reflecting 17 percent of our single family home sales we anticipate that new construction will continue to thrive into 2015. This means …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 3 MONTHS AGO
2014 exceeds expectations
The Coeur d'Alene Association of Realtors was excited to tell you last October that we had surpassed our 2006 sales volume for residential real estate. Because our production is not tallied until the last sale of the month has completed, even we were not aware of how well the market …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 3 MONTHS AGO
Anything but cold
The January edition of the North Idaho Business Journal illustrates predictions of a good local economy for this new year. Local prognosticators have projected continued improvement in our real estate and employment markets. Their estimates range from 6-8 percent improvement in Kootenai County home prices which, if accurate, will keep …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 3 MONTHS AGO
Stability spreads
We have been fortunate to provide you with good reports about the improvement and apparent stability of local real estate for months. In fact our market has improved steadily during the past two years and although price increases appear to be slowing some, we still see appreciation consistent with a …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 4 MONTHS AGO
Be wary of gifts
It is the time of year where families gather and share their love by exchanging gifts. For those of you expecting to sell a home in the near future this can create a problem. It is common knowledge that clutter is a detractor when showing a house. Most Realtors will …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 4 MONTHS AGO
Giving is receiving
It is said that, "what goes around comes around." Even so, there is no way we Realtors would accept any credit for the current trend in real estate. It has been a good year for our market and that means a good year for those who ply the trade. Understanding …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 4 MONTHS AGO
Appreciation still growing
November sales statistics continue to show stability in North Idaho real state. Our staff has compiled our year to date results as compared to last year and we still are seeing improvement in this, the first year that we have surpassed 2006 figures for number of homes sold.
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 4 MONTHS AGO
To list or not
With the frigid temperatures upon us it seems to many that no one could possibly be interested in looking for real estate. If that were true, there are nearly a thousand Coeur d'Alene Association of Realtors members that would take the winter off. Instead, we endure the cold and slick …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 5 MONTHS AGO
Seattle boom can help
According to an article published by Forbes.com, Seattle was listed as one of the top 10 markets this year for construction. Forbes.com compiled its list of "Building Boom Towns" using statistics from Dodge Data Analytics to find the places where the most money has been spent on new construction from …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 5 MONTHS AGO
Holding our own - and then some
As promised the statistical report from the Coeur d'Alene Multiple Listing Service is completed and we are pleased with the results. We have indeed outpaced 2006 for year-to-date sales and by more than anticipated. We actually show 62 sales in excess of last year at October's end.
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 5 MONTHS AGO
Early signs show continued recovery
Since the end of the month was just Friday, our staff has not yet compiled the market statistics for the month ending on Halloween. We want to make sure that late closing sales are reported before publishing the statistics you have come to depend on but preliminarily we see continued …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 6 MONTHS AGO
More on safety
Even though Realtor Safety Month was September, the month old murder of Arkansas Realtor, Beverly Carter still is fresh in our minds.
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 6 MONTHS AGO
Timing is everything
We know that the decrease in temperature affects attitude. Nesting instincts kick in and we begin thinking of soups rather than salads. Comfort foods replace convenient foods as we begin to alter our activities. Even in North Idaho where we have plenty to do outdoors all year long, activities tend …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 6 MONTHS AGO
The bigger picture
When we report statistical data as compiled by the Coeur d'Alene Multiple Listing Service, we generally are reporting on single family homes on lots under two acres in size. This is consistent with the national news about real estate most often reported and we want you to be able to …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 6 MONTHS AGO
Local stats buck national trend
On the heels of a Case Schiller report of a decline in real estate sales across the country, our staff at the Coeur d'Alene Multiple Listing Service was quick to prepare an overview of our local market. We are pleased to report that our statistics present a positive picture of …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 6 MONTHS AGO
National news bodes well
It is rare that we put much stock in what happens nationally with real estate. We choose instead to focus on local activity to give you a perspective which benefits you directly. The news this past week however has given us cause to reflect on how the national trends can …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 7 MONTHS AGO
Rising rates signal change
A headline caught our attention last week. It caused alarm which led to its reading. "Mortgage Rates Make Biggest Jump of the Year" is bound to get the attention of anyone with an interest in the real estate market, especially those now shopping for homes.
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 7 MONTHS AGO
Stay safe
September is Realtor Safety Month. All agents and home sellers need to be vigilant and this seems an appropriate time to address the issue. Earlier this month we received several reports of members feeling "uncomfortable" with prospects and rightfully so.
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 7 MONTHS AGO
Market slows ... some
Well what do you know? Preliminary August statistics from the Coeur d'Alene Multiple Listing Service do show signs that the market is slowing - at least in Coeur d'Alene. August sales for the city were just 4 percent higher than those in 2013. The average price there up just 2 …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 7 MONTHS AGO
Housing reports cause confusion
It is no wonder that people have such a hard time getting a grasp on the housing market. Reports this week, like many others, are mixed. On Tuesday the Associated Press issued a headline stating that. "U.S. home price gains slow in June." Aside from the fact that tomorrow is …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 8 MONTHS AGO
Personal vs. 'Real' property
It is with some frequency that buyers of a property feel entitled to a seller's personal property after the contract is signed. Things like firewood, a rusty junk pile, the vegetables in the garden and sometimes even pets become a point of contention when approaching the agreed upon date of …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 8 MONTHS AGO
Other victims of the recession
The recession hit hard in America as well as here in North Idaho. Not only were families affected by job loss and the resulting foreclosures of their homes, but there were other victims as well. With an inability to make house payments came other difficulties including a decrease in revenue …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 8 MONTHS AGO
Commercial market shows gains
As we reflect upon our performance so far this year, it is easy to see improvement over 2013. Those improvements are chronicled here each month as with this column. We begin our report this time however, with an update on commercial sales activity. Commercial lease activity is not recorded by …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 8 MONTHS AGO
Should sellers stay or leave?
Selling your home is trying at best. There is the constant picking up, re-arranging, cleaning. It can make it hard to enjoy your own home when you never know who will be coming and when. Although buyer/visitors should be welcomed, perhaps it is best not to welcome them in person. …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 9 MONTHS AGO
You know what you mean
But do your prospective clients? A regular reader called last week upset about his difficulty in deciphering real estate advertisement abbreviations. Hard enough to figure out what the initials behind an agent's name mean, he said, but when agents cut corners on their word count in ads, it causes that …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 9 MONTHS AGO
Rising rates on horizon, but how far?
On the heels of the announcement that May was one of the best months in recent history for pending sales of homes comes the Federal Reserve Bank's announcement that Quantitative Easing round three is coming to an end causing fear that interest rates will rise. In fact, interest rates did …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 9 MONTHS AGO
Market strength continues
2014 continues to outperform the last seven years of our local real estate market, surpassing 2007 production levels.
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 10 MONTHS AGO
Good news for owners and buyers
Last week showed signs that the economic recovery may not be as strong as hoped. One indicator is the reduction in mortgage interest rates for the second consecutive week, down to 4.14 percent from 4.17 the previous week. Mortgage rates of course, have an impact on the housing market as …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 10 MONTHS AGO
Great deals at auction
Many ask and even more wonder what opportunities they may be missing to buy bargain-priced real estate at auction. The answer is, it depends. It depends on a lot of factors like; do you have cash or a lender who will authorize you to bid up to a pre-approved amount? …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 10 MONTHS AGO
A perspective on mortgage interest
Last week brought another moderate increase in 30-year mortgage interest rates but with the average rate still below 4.5 percent there seems to be little cause for alarm. Still, with many remembering the lowest of the low at 3.35 percent in November 2012, rates over 4 percent may seem high …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 10 MONTHS AGO
Market appreciation still climbing
2013 ended with an increase in sales of 21 percent over the previous year. That pace has cooled somewhat this year with sales at the end of May just 3 percent ahead of May 2013 when we look at the entire Coeur d'Alene Multiple Listing Service area. Some areas fared …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 10 MONTHS AGO
The proximity principle
This principle, in various studies, suggests that people develop lasting relationships with those in closest proximity to them. Their proximity leads to frequent contact and relationships develop by way of this frequent contact. This principle also applies to real estate - proximity affects value. Property close to a school can …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 11 MONTHS AGO
Election time strategy
In the spring flowers bloom and the air is filled with their fragrance. Also at this time of year, mailboxes fill with campaign literature from hopeful candidates, both incumbent and newbies each vying for our votes in the upcoming primary elections. What better time then, to lobby these folks to …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 11 MONTHS AGO
Unanticipated rate drop equals opportunity
Even though higher than last year at this time, interest rates for 30-year fixed rate mortgages dropped last week to the surprise of most. Last week's 4.21 percent rate is the lowest seen in six months giving buyers a bit of stress relief as rates continued to rise in previous …
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 11 MONTHS AGO
Markets stall
Reports from several national sources were seen and heard last week announcing a bad first quarter for housing. An article on Friday in Business Week stated in part, "Sales of previously owned properties tumbled 7.5 percent in March from the previous year, to the slowest pace in 20 months."
COEUR D'ALENE PRESS | UPDATED 10 YEARS, 12 MONTHS AGO
Communication is key
It is true with any occupation that, as your experience grows, your communication style changes. In many occupations, acronyms are used as words and although peers understand what you mean, no one else does. Realtors are no different. Someone eavesdropping on a meeting of agents discussing a transaction would quickly …
COEUR D'ALENE PRESS | UPDATED 11 YEARS AGO
Interest rates dip slightly
Interest for 30-year mortgages dipped last week to equal the lowest in six weeks. These lower rates not only encourage those looking for homes, but have caused refinancing applications to increase as well. While applications for new mortgages increased 1.3 percent, refinancing applications increased 6.9 percent over the previous week …
COEUR D'ALENE PRESS | UPDATED 11 YEARS AGO
Fair housing month
April is the first full month of spring. It is also a month celebrated by many organizations as "their" month. Since this is a column on real estate matters, we will focus on fair housing giving no insult to; Fresh Florida Tomato Month, Alcohol Awareness Month, National Food Month, National …
COEUR D'ALENE PRESS | UPDATED 11 YEARS AGO
Market still improved
Sales of bank owned and short sale properties continued their decline through the first quarter of the year. Our year to date sales of foreclosed properties as of the end of March in 2013 were 28 percent higher than this year. Short sales - where a seller sells for less …
COEUR D'ALENE PRESS | UPDATED 11 YEARS AGO
Flood insurance more costly for many
We learned this past week that the flood insurance subsidies that the National Association of Realtors fought so hard for was signed into law by the President. Although the law delays the cessation of subsidies to those who own property in FEMA designated flood zones it does not freeze rates.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 1 MONTH AGO
People for Person
Subscribers may already know after Wednesday's article in this paper, but to us and the folks in East Coeur d'Alene, a new playground at Person Field is a big deal. Since 1945 when the Coeur d'Alene Association of Realtors was first established, our communities have grown accustomed to involvement from …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 1 MONTH AGO
More data you can use
Last week our statistical summary focused on the single family home market since that is where most of our readers are thought to reside. There is however more to our real estate story and many of you are likely to make use of that information as well.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 1 MONTH AGO
Good news for North Idaho real estate
The National Association of Realtors released an article on Friday, based on findings of real estate research company CoreLogic, that four million homeowners have returned to positive equity positions as of the end of February. That means that these owners are no longer underwater with their mortgages. Of the five …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 1 MONTH AGO
Up or down
Depending on how you read this past week's news, home sales are both up and down. A headline on Thursday from the Associated Press reads; "Sales of new homes rebound in January." A press release from the National Association of Realtors on Friday reads; "Existing-home sales drop in January while …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 2 MONTHS AGO
Fewer restrictions on seller financing
Now that the dust has settled and the provisions under the Dodd Frank Act are clear, some sellers may benefit by carrying their own real estate financing. Gone are provisions that require a seller to use a licensed mortgage professional to handle paperwork. Gone too is a provision that would …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 2 MONTHS AGO
Property not selling?
There was a time, not so long ago yet it seems a distant memory, when someone would pay any price for real estate offered for sale. Some refer to it as the real estate boom, others merely call it insanity. You have seen us here refer often to the crazy …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 2 MONTHS AGO
Holiday travel slows activity
Staff does not like to report statistics so early in the year. Small numbers mean even a couple of sales can yield a large number as a percentage more or less. Even so, we like to see what is happening by comparing year to year activity. Our abbreviated report shows …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 2 MONTHS AGO
Interest rates sure to rise
Although mortgage interest rates declined for the third consecutive week, down to 4.32 percent from 4.39 last week we anticipate a reversal of those declines, sooner rather than later. Wednesday's announcement by the Federal Reserve that it is easing its quantitative easing, reducing its Treasury investments by $10 billion per …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 2 MONTHS AGO
Rate drop should help market
For the second consecutive week we have seen mortgage interest rates drop, not dramatically, but enough that fence sitting buyers should find some compulsion to move forward with purchases or risk paying higher rates in the near future.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 3 MONTHS AGO
Be careful when selling with Craigslist
Not so long ago, success in using Craigslist to sell real estate was limited. Today the free classified site is considered a required strategy by most sellers, especially those wanting to sell their own property. Recently, we heard of a mourning widow who, finding no use for some of her …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 3 MONTHS AGO
More property types gain traction
The hardworking staff of the Coeur d'Alene Multiple Listing Service has completed their statistical analysis of 2013. We are pleased to report that our Commercial, Investment and Large Land categories all gained ground and have joined the recovery.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 3 MONTHS AGO
When buying a home anticipate expenses
Each month we, at the Coeur d'Alene Association of Realtors, offer a course for first time home buyers. This course, in conjunction with Idaho Housing, offers tips and advice to make sure that folks approach home ownership with their eyes wide open.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 3 MONTHS AGO
Reflection
As we look back on 2013 we must begin with the third quarter of 2012 as our starting point. November of 2012, interest on real estate loans hit an all time low and aided our recovery as market-wise buyers realized that rates were not likely to go lower. These interest …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 4 MONTHS AGO
Giving season - all year long
While it truly is inspiring to see the pictures with the super-sized checks being given to organizations by their benefactors, our Realtor spirit of giving is a way of life throughout the year. Although we have no way of knowing, nor should we, what our individual members contribute to our …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 4 MONTHS AGO
We are the same, but different
Even though we may have our own economy here, it is always interesting to see how we compare to the rest of the nation when it comes to real estate trends. Given that our own foreclosure and short sales have fallen by roughly 37 percent from the previous year, we …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 4 MONTHS AGO
Expectations exceeded in housing market
Last month we reported that our Year to Date (YTD) sales appeared to be approaching those not seen since 2007. Preliminary sales figures for the month of November put our YTD sales well in excess of that year. In Coeur d'Alene our number of single family homes shows an increase …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 4 MONTHS AGO
Future seems good for local real estate
When attempting to predict the future market we often look at performance in other areas. Particularly we look to the west, beyond Spokane to see what is happening as a prelude to what we can expect here. That is why we were excited to hear, at Wednesday morning's Urban Land …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 5 MONTHS AGO
More evidence of local recovery
We were delighted to report last week that we see continued strength in our local housing market and as our staff completes their analysis we see that our current production levels are nearly those seen in 2006! That was not our most stellar year of performance when measured by number …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 5 MONTHS AGO
Market continues strong
Last week we surmised that the sequester and shutdown that sidelined government workers, coupled with rising interest rates during September, may have impacted our market. Of course, in real estate, it usually takes a month or two to realize impacts of any change in economic climate due to the length …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 5 MONTHS AGO
Interest rates may favor winter market
As interest rates rose in early fall, housing in some areas began to slow and applications for refinance loans became a trickle. Now, with interest rates at their lowest since June, we may see a boost in the lending market and in housing sales. Nearly everyone agrees that rates this …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 6 MONTHS AGO
When adversity is not adverse
It is a requirement of all licensed real estate agents to disclose, "Adverse Material Facts" to parties in a real estate transaction. As defined in Idaho real estate license law an Adverse material fact is one that, "would significantly affect the desirability or value of the property to a reasonable …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 6 MONTHS AGO
How will the shutdown affect the market
At the time of this writing we are still uncertain of the status of the federal government shutdown but we assume nothing has been resolved to increase the debt limit. Many are asking if their home loans will still go through. The last we were told is that FHA and …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 6 MONTHS AGO
All signs point to fall
Except for the real estate market in North Idaho. Preliminary September sales figures show that the real estate market in Coeur d'Alene and surrounding areas is doing anything but falling. Not only did we maintain the respectable increase over last year reported in recent months, we actually exceeded August's 10 …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 6 MONTHS AGO
Another fiscal cliff
Once again we see the infighting in Congress delaying decisions on the budget that could lead to a shut down. This is increasingly becoming a non-event to many since no one is convinced that our dysfunctional lawmakers will actually take us to bankruptcy. One of the many threats of inaction …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 7 MONTHS AGO
Signs of fall = encouragement
Fall is in the air. The children are in school, the crops are ripening and soon, the beautiful fall colors will return. The encouraging signs though will be found in the building of North Idaho. A leisurely drive through any part of town with vacant lots reveals a bustle of …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 7 MONTHS AGO
Is your agent giving you a fair shot?
It's a high-tech world we live in. In many regards, technology has made our lives easier. It also has disadvantages when abused to scam or con an unsuspecting consumer. Most consumers resent being mislead and most are not very forgiving upon discovering a home they were interested in is not …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 7 MONTHS AGO
Encouraging numbers increase confidence
Although last week we noticed several reports that the housing market was softening - due to higher interest rates - that does not seem to be the case in the Coeur d'Alene Multiple Listing Service (MLS).
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 7 MONTHS AGO
More help for recession victims
The recession and the resulting loss of jobs caused many to lose their homes. Normally hardworking folks suddenly found themselves out of work and caused some to resort to the unthinkable; give up their homes.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 8 MONTHS AGO
Housing Finance reform not forgotten
In the president's speech on Aug. 6, on responsible homeownership he alluded again to the disbanding of the government sponsored Freddie Mac and Fannie Mae, blaming them in part for the housing bubble that led to billions of dollars in corporate and private losses.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 8 MONTHS AGO
We are holding our own
Interest rate changes last week were inconsequential, moving up to 4.4 from 4.39 percent the previous week. This offers buyers some stability, however fleeting it may be.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 8 MONTHS AGO
Buyers on edge
It has to be frustrating being a buyer today with interest rates moving up and down. With nearly a two-year period of mortgage rates below 4 percent it was easy to become complacent. Many new buyers have been unaware that interest rates, even at last week's 4.39 percent, are below …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 9 MONTHS AGO
Realtors fail to make top 10
Recently we heard from a client who was once a real estate agent. He shared how disappointed he was, after getting his license, to learn that real estate agents were among the least trusted professions - right below car salesmen and lawyers he said. We all know that those professions …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 9 MONTHS AGO
Realtors celebrate 100 years
In 2013, Realtors adopted our first Code of Ethics. Here is the current version:
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 9 MONTHS AGO
Sales surpass 2007
Sales of homes in the Coeur d'Alene Multiple Listing Service continued to be brisk through June. Our staff reports that we have surpassed Year to Date sales made in 2007, the year before the dramatic slide took place. As of June 30, 2013, we had recorded 1,241 single family home …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 9 MONTHS AGO
Realtors obtain objective opinion on ULUC
We members of the Coeur d'Alene Association of Realtors, Idaho Association of Realtors and National Association of Realtors take our commitment to protect and preserve the private property rights of our citizens seriously.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 10 MONTHS AGO
Are we doing it again?
As we near the half-way mark of 2013 we the members of the Coeur d'Alene Association of Realtors are very busy making sure that buyers and sellers of real estate are getting together to transfer ownership from those who are done with it to those who want it.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 10 MONTHS AGO
The debate is heating up
Many of you heeded our call to attend the June 4, Tuesday morning meeting regarding the Uniform Land Use Code which makes changes to local zoning ordinances. The County's claim that their intent to make the codes easier to interpret has fallen on deaf ears if participants at recent hearings …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 10 MONTHS AGO
Silver Valley coming on strong
No doubt attributed, in part to the huge amount of money the EPA will spend there this year, the real estate recovery has landed in Idaho's Silver Valley. After taking longer than many areas reported by the Coeur d'Alene Multiple Listing Service, the Silver Valley seems to have built a …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 10 MONTHS AGO
Your future may be at stake
Many property owners have long held their wealth in large parcels of land. Often, their legacy was to divide this acreage into smaller parcels and present it in, usually, equal portions to their heirs. Sometimes these rural subdivisions occurred to help the holder in their retirement or to pay for …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 11 MONTHS AGO
Realtors commit to community
You don't have to look far these days to find positive news about the real estate market. Builders are building and houses are selling, not just here, but in much of the nation. Here in North Idaho, Realtors are staying very busy.
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 11 MONTHS AGO
Are we there yet?
The folks who waited, and waited, for the bottom of the market have, for the most part, realized that bottom has long since passed. The question we are most often asked now is, "How long will the strong market continue?"
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 11 MONTHS AGO
It is getting warmer
Especially in Post Falls. Overall, the Coeur d'Alene Multiple Listing Service reports an increase in activity, but the hot spot so far this year is Post Falls. Preliminary figures this year to date show an increase in the number of sales in that city to be 23 percent above last …
COEUR D'ALENE PRESS | UPDATED 11 YEARS, 12 MONTHS AGO
The issue of easements
A property owner recently contacted us because he came home to find trees missing from his property. Further investigation revealed that the trees in question had been removed from an easement that had been granted to an adjoining property. That easement was to provide access to an adjoining parcel and …
COEUR D'ALENE PRESS | UPDATED 12 YEARS AGO
Is your Realtor protecting you?
It is a truth, unpleasant perhaps to many, that political influence is important to getting things done in this country. All groups employ lobbyists to promote their agendas to municipalities and legislatures at all levels of government. From humanitarian causes to the goals of industries, if your voice is to …
COEUR D'ALENE PRESS | UPDATED 12 YEARS AGO
Ripples of recovery beginning to show
Folks in Idaho's Silver Valley appear to be getting some relief - finally. The uptick in the housing market enjoyed by us in the more densely populated areas is spreading to our rural communities. As predicted, a modest decrease in unemployment has improved the Valley's real estate market. According to …
COEUR D'ALENE PRESS | UPDATED 12 YEARS AGO
Is history about to repeat itself?
This month marks the fifth year of this column. It began as an effort to keep you informed of our real estate market in the face of gloomy news as the market began to sag in other locales. While the real estate bubble burst in some areas, we appeared still …
COEUR D'ALENE PRESS | UPDATED 12 YEARS AGO
April is Fair Housing Month
Tomorrow is the first day of April and that means it is time once again, to turn our attention to making sure that no qualified buyer is restricted from buying the home they want. Although we would hope that the times of discrimination are long behind us, we are not …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 1 MONTH AGO
Is buying really cheaper than renting?
It depends on where you live and what type of home you need, but for many, the answer is "Yes."
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 1 MONTH AGO
Don't like your agent? Fire them!
Each month, the Coeur d'Alene Association of Realtors hosts "Finally Home', a class about all things to consider when preparing to buy a home. We have had over 150 people benefit from this class and often they are enlightened, having had the serious side of home buying exposed to them. …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 1 MONTH AGO
Early signs point to continued recovery
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 1 MONTH AGO
Just in time for spring, deadlines loom
Regular readers will recall that the United States Department of Agriculture's Rural Development program was set to expire last Fall, in Post Falls and 900 other communities in the nation, due to population estimates from the 2010 census. Intense lobbying by the National Association of Realtors and other groups caused …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 1 MONTH AGO
Just in time for spring, deadlines loom
Regular readers will recall that the United States Department of Agriculture's Rural Development program was set to expire last Fall, in Post Falls and 900 other communities in the nation, due to population estimates from the 2010 census. Intense lobbying by the National Association of Realtors and other groups caused …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 2 MONTHS AGO
Customer or Client, know your rights
You already know there are listing agents and selling agents in real estate. Listing agents focus their attention on adding inventory, usually posting their properties in the Multiple Listing Service, exposing the property to all other members. A selling agent is the one who actually brings the offer to purchase. …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 2 MONTHS AGO
Kootenai County sales lead Spokane
Those of you who also read the other newspaper in the region, read on Monday that the Spokane area experienced a 20 percent increase in January housing sales when compared to last year. That is terrific news!
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 2 MONTHS AGO
Even as interest rates rise, so do home prices
Interest rates for 30-year, fixed-rate conforming mortgages rose from 3.67 percent to 3.73 percent during the week according to the Mortgage Bankers Association. The average rate for 30 year loans backed by the Federal Housing Administration rose from 3.48 percent to 3.53 percent Mortgage applications rose too, up 3.4 percent …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 2 MONTHS AGO
Interest rates rise again
Those who have been thinking of buying real estate take note. Last week marked the third consecutive week of rate increases for mortgage loans. As investors exchange their investments in bonds to invest in the recovering stock market, interest rates are rising. Some say this is a trend that is …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 2 MONTHS AGO
Rates and housing are on the move
Not that anyone should panic, but mortgage rates took another jump yesterday. That is twice in two weeks we have seen an increase. Still, with rates at less than 3.5 percent we don't expect a lot of wailing or for those who are shopping for real estate to change their …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 3 MONTHS AGO
Realtors stay connected
At more than one million members there should be no surprise that Realtors are among the most powerful lobbies in the nation. We are the voice of property owners, buyers and sellers and work diligently to ensure that the American Dream of investing in real estate remains a viable right …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 3 MONTHS AGO
More reasons for optimism
Aside from last week's statistical review of Coeur d'Alene Multiple Listing Service Properties, we find even more data to support recovery now that the final draft of our statistics has been completed. One encouraging bit of news is that sales of newly constructed homes has increased. This is a welcome …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 3 MONTHS AGO
We made it
Although it was touch and go, the Debt Forgiveness Act survived the fiscal cliff negotiations. This means that folks who are losing their homes will not have to pay income taxes on the money they lost as if it was income. Example; when a home sells for less than owed …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 3 MONTHS AGO
2013 outlook is good
As we zero in on a new year, we reflect on 2012 as the year the real estate market turned a corner. At this year's end we see another downward adjustment in mortgage interest rates to which most react with a ho-hum attitude. We have enjoyed rates that are so …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 4 MONTHS AGO
Optimism for 2013
One doesn't have to look far to see a lot of positive news about the housing market. Interest rates are low, sales of homes are up and home prices are gradually increasing, helping some who lost so much equity in the post-boom decline.
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 4 MONTHS AGO
Realtors in the giving spirit, always
Especially this time of year it is impossible to ignore the less fortunate in our community. Our mailboxes are filled with cards and letters soliciting donations for homeless humans and pets, folks with disabilities that run the gamut, people in need of food, shelter, clothing, mental health or drug counseling, …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 4 MONTHS AGO
Headed toward a good finish
With one month left in 2012 we are pleased to see a sustained recovery in the real estate market. A review of our November statistics provides evidence that we are closing in on our best year since 2007 - the last year before the North Idaho market fell. We have …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 4 MONTHS AGO
Market continues to encourage
When we started this column in 2008 it was predicated by the need for accurate local information. The real estate market had begun falling in many parts of the country in 2007 and the resounding crash was evident in newspapers worldwide. Of course we are not the rest of the …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 5 MONTHS AGO
It's that time of year again
Time for us to be thankful that our market continues to show signs of recovery and for the third, record setting, low interest rate in a month. That new low can only help as we continue our slow climb out of the recession.
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 5 MONTHS AGO
Conditions right for market, for now
They did it again. Last week mortgage rates set a new record for the lowest rate since 30-year fixed rate mortgages came into existence. That's good news for those who want to borrow money and can qualify. We all know that banks have been remarkably critical when reviewing borrowers' qualifications …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 5 MONTHS AGO
Rising prices show stability
We now have six consecutive months of average price increases in the Coeur d'Alene/Dalton areas of our multiple listing service. With that succession and the continued increases in sales over last year, we will now refer to this as a trend.
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 5 MONTHS AGO
Short sales and housing shortages
A press release last week assures that the process for getting short sales approved is about to get easier. As you know, a short sale is the sale of property where a seller (debtor) agrees to sell for less than they owe. Although attractive to lenders and sellers alike, this …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 5 MONTHS AGO
Reminders and reflections
As we near the end of another year we take this opportunity to remind you of some important changes with regard to real estate that may affect you or someone you know.
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 6 MONTHS AGO
Promise holds out for home sales
As we ease into the fourth quarter of our year we continue to see signs of a slow, but steady recovery in the housing market. Builders reported another increase in new home construction last month. This marks the biggest increase in more than four years. Driven by the historically low …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 6 MONTHS AGO
Weak appraisals fuel slow recovery
You have noted our frustration with the slow recovery in the rural areas of our Multiple Listing Service geography. The increased number of sales in those areas, unlike the more densely populated ones, have not pulled their prices from the post boom doldrums.
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 6 MONTHS AGO
Realtors concur, market is improving
Last week at The Coeur d'Alene Resort more than 220 Realtors converged to conduct the business of the Idaho Association of Realtors, participate in continuing education and network with peers from across the state. In conversations with these Realtors we gained a "boots on the ground" perspective from all corners …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 6 MONTHS AGO
Rates low, lenders slow
Many are enjoying the newer, lower mortgage rates it seems, but now borrowers are vying for lenders' time as they compete with those refinancing to take advantage of the lowest rates in history. A quick search of the Idaho Housing and Finance Association website on Friday shows them proudly displaying …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 7 MONTHS AGO
Fed action not panacea for real estate
While it is true that the announcement of the Fed's intent to buy $40 billion of Mortgage Backed Securities was received well by Wall Street and interest rates pierced previous historic lows, consumers may not see much impact beyond this point. With several months of already low rates, lenders have …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 7 MONTHS AGO
Real estate recovery continues locally
As you no doubt have heard, parts of the country are experiencing growth in the housing market. The same holds true here although, like the nation, our recovering areas are in pockets within our local geography.
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 7 MONTHS AGO
More than one way to lose money
Here before, we have addressed the "fence sitter" and have described the folly of waiting for the bottom of the market. As we have reported, in many parts of North Idaho, the bottom has passed and we are on our way up. Still there are bargains to be had, but …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 8 MONTHS AGO
Missed it again
We told you here a few weeks ago that if you were waiting for the bottom of the market in Coeur d'Alene and Hayden you likely missed it. Last month's sales figures continue to prove that point. If, on the other hand, you were waiting for the mortgage rates to …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 8 MONTHS AGO
It is more than a moral issue
Even though the real estate market is limping into its continued recovery and foreclosures seem to have subsided a bit, there are still many folks who are finding it increasingly difficult to stay in their homes. Some hang on until foreclosure, others opt for the short sale strategy - agreeing …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 9 MONTHS AGO
Time is running out
You have read about the changes in the market, with city real estate increasing in price. More than escalating prices, there is another threat to low income buyers and it is getting closer.
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 9 MONTHS AGO
You saw it here first
Several weeks ago we reported that those of you who were waiting for the bottom of the market had likely missed it. The last few months sales figures show increases in sales in most areas and average price increases in our densely populated areas. Due to affordability driven in part …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 9 MONTHS AGO
More improvement seen in local real estate
Gosh it feels good to be able to report more positive news on the Coeur d'Alene real estate market.
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 9 MONTHS AGO
Real estate may get boost from banks
Recent news stories indicate that banks may be loosening lending requirements a bit. This would be a welcome change to those frustrated by the rigid requirements of late. Not that we would advocate for the too recent environment of "no doc" loans, but there are some good people out there …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 10 MONTHS AGO
Realtors honored for service
Timing is everything. And the timing was excellent for guest speaker Ron Nilson's message of community at the quarterly Coeur d'Alene Association of Realtors general membership meeting last Tuesday.
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 10 MONTHS AGO
Market stabilization continues
As we had hoped, the May statistics as presented by the Coeur d'Alene Multiple Listing Service show improved performance in several areas. Coeur d'Alene and Dalton continue the upward momentum seen the previous months with the May statistics showing improvement in number of homes sold and in average price of …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 10 MONTHS AGO
How low can they go?
Interest rates dropped again last week to a new record low of 3.67 percent reflecting seven-tenths of a percent of the previous week's record. That represents the sixth week in a row of declining interest rates. Perhaps as a result, a recent survey showed that a majority of homeowners think …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 10 MONTHS AGO
Surprised again
My how low interest rates are for mortgages! We have watched over the last several months as interest rates languished below 4 percent. Usually, we check for the lowest rates on guaranteed loans at ihfa.org, the website of Idaho Housing and Finance Association. For quite awhile the rate has hovered …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 11 MONTHS AGO
Where is the money?
Last week we received a call from a gentleman needing help to get his portion of the $25 billion settlement for mortgage fraud. Some know it as the "robo signing" offenses. In his opinion he had been illegally foreclosed upon and wanted to know how to apply for the compensation …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 11 MONTHS AGO
Realtors rally for home ownership
Last Thursday, more than 10,000 Realtors met on the lawn near the Washington Monument in Washington, D.C., in an attempt to get the attention of government. The message; Home ownership matters.
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 11 MONTHS AGO
More market improvement seen
Last week we reported some market stability locally and some decent appreciation in the residential market that is the combined cities of Coeur d'Alene and Dalton Gardens. Other markets across the nation are also experiencing positive real estate movement, but certainly not all. As we have opined here before, it …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 11 MONTHS AGO
Good news
Last week we saw home loan interest rates reach an all time low. Rates for 30-year conventional loans hit 3.82 percent. That is the lowest rate since these long-term loans were first offered in the 1950s. This is great news for homebuyers looking for the best deals. Many, still waiting …
COEUR D'ALENE PRESS | UPDATED 12 YEARS, 12 MONTHS AGO
Headlines and a deadline
As reported last week the Idaho Association of Realtors successfully lobbied for developers with infrastructure in their subdivisions to be taxed at the lower, "business inventory" rate. If you are a developer, you are nearly out of time to apply for this exemption. The deadline is May 1, next Tuesday!
COEUR D'ALENE PRESS | UPDATED 13 YEARS AGO
What we have done
Many of you are aware that Realtors are among the largest and therefore most powerful lobbies in the nation. Of course our primary goal is to ensure that each of us retains our private property rights. Even here, in the Gem State, your rights are often threatened sometimes unbeknownst to …
COEUR D'ALENE PRESS | UPDATED 13 YEARS AGO
Realtors take stand on recall
You would have to live in a vacuum to have missed the controversy in the Lake City over the last couple of weeks. A cadre of disgruntled citizens has built enough momentum to organize an effort to remove some of our most dedicated public servants from office.
COEUR D'ALENE PRESS | UPDATED 13 YEARS AGO
Continued improvement seen locally
Far from a speeding train metaphor, yet the local real estate market continues to show improvement. Staff at the Coeur d'Alene Multiple Listing Service has completed the year-to-date statistical analysis and we are maintaining the 4 percent increase we first saw months ago.
COEUR D'ALENE PRESS | UPDATED 13 YEARS AGO
Why you need a Realtor
Often maligned and generally misunderstood, your Realtor should be an asset to you, be you buyer or seller. Many buyers and sellers choose to go it alone. Driving through neighborhoods, looking for signs and hoping to learn the fair price to pay, or to ask, for their property, some believe …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 1 MONTH AGO
Good news hard to ignore
We are as delighted as anyone that there is good news about the real estate market at almost every turn. The national television news has recently featured two stories on booming housing markets. Even so, we are reluctant to predict similar activity locally. True, we are selling more real estate …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 1 MONTH AGO
Realtors stay on top of issues
Thanks to the North Idaho Building Contractors, the Coeur d'Alene Association of Realtors has been made aware of a request by Panhandle Health to increase fees for septic permit applications. The Panhandle Health District recently presented their proposed fee increases to the NIBCA and it was brought to our attention. …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 1 MONTH AGO
Stats show positive signs
This year's statistics so far indicate a modest improvement in our overall real estate market. Although we do not see appreciation in all areas and in fact, some areas show decline, with only 244 sales of residential properties reported so far, it is too soon to predict a trend.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 1 MONTH AGO
Time to move
One doesn't need to look far to find positive news about the real estate market these days. National and local sales figures continue to improve and buyer competition is increasing over a variety of price ranges. Of course this activity ultimately leads to diminishing inventory, leaving fewer options for those …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 1 MONTH AGO
Interest up in homes and loans
Although home loan interest rates rose slightly last week, it appears that today's home prices still offer some of the best buys in history. According to the National Association of Home Builders today's homes are affordable to nearly 76 percent of average wage earners. But with the current level of …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 2 MONTHS AGO
Recovery, although slow, is under way
Last Tuesday's forum was an eye-opener for the 500-plus folks who attended. Excellent presenters from all areas of the real estate trade presented facts and figures that brought our local market into focus.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 2 MONTHS AGO
Joint venture brings the true picture
This Tuesday is a big day for folks in Coeur d'Alene. Yes, it is Valentine's Day, so don't forget your sweetie, but it is also the annual Real Estate Market Forum presented by the joint Spokane - Kootenai Real Estate Research Committee.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 2 MONTHS AGO
Brokers fight data sharing
Several weeks ago we suggested, when looking for real estate, you begin with your local Multiple Listing Service instead of the well advertised third-party sites. The top reason for our recommendation was accuracy. Often the third-party aggregators will have the same address listed more than once with different prices, or …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 2 MONTHS AGO
Help may be on the horizon
After Tuesday's State of the Union speech by President Obama, National Association of Realtors President Moe Veissi provided some commentary:
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 3 MONTHS AGO
Are you willing to pay more for your next home?
Once again, the Idaho Legislature is considering adding a tax to real estate transactions in the state. The bill, sponsored by Democrat Shirley Ringo of Moscow and supported by Thomas Trail a Republican from the same city will add a tax to many services, including the sales commission paid to …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 3 MONTHS AGO
Rumors of home sales tax persist
"Did you know that if you sell your house after 2012 you will pay a 3.8 percent sales tax on it? That's $3,800 on a $100,000 home, etc.. When did this happen? It's in the health care bill and goes into effect in 2013," says the alarming email.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 3 MONTHS AGO
Encouraging preliminary numbers emerge
On Friday we got a preview of the real estate activity from the Coeur d'Alene Multiple Listing Service that supports our prediction - 2011 outperformed 2010. Although we had been tracking a 4 percent increase in number of units sold, the actual ending number of sales puts us at 5 …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 3 MONTHS AGO
NAR adjusts housing stats
Last week the National Association of Realtors announced it was changing the way it reports home sales. The practice of "bench marking" had been intended to predict and include in housing statistics, the activity of homes offered for sale by owner (FSBO). A recent discovery that fewer persons were opting …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 4 MONTHS AGO
It's a team effort
This time of year as we think of all we are thankful for, we want to take this opportunity to thank our affiliate members. These members work tirelessly behind the scenes to make sure that the transaction you enter will be completed and that all parties will be protected from …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 4 MONTHS AGO
Low prices keep market moving
November sales figures illustrate the market is still outperforming last year with regard to residential sales. Although not at a scorching pace, our total sales across the wide geography of the Coeur d'Alene Multiple Listing Service show an increase of 4.3 percent over last year.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 4 MONTHS AGO
Government makes changes to help underwater owners
Although of little consolation to homeowners whose loans were not sold to Fannie Mae and Freddie Mac, there may be some much needed help for those who were.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 4 MONTHS AGO
Why now may be the best time to sell
Interest rates for 30-year conventional loans fell back to 3.75 percent last week. This leaves qualified buyers in a strong position. Those who already own a home, financed at a higher rate when prices were higher can often only dream of the long-term benefit that low rate brings.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 5 MONTHS AGO
Where the money goes
This is an expensive business. With advertising, fuel and membership fees, all necessary to serve our clients, Realtors make a significant investment each year. This time of year, with holidays and gifts that each of you budgets for, Realtors must also budget for annual dues. This year we face an …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 5 MONTHS AGO
Sales continue above 2010
As promised, the staff of the Coeur d'Alene Multiple Listing Service has completed the monthly task of compiling October sales figures and we can now present them to you. Each month staff takes care to ensure all sales for the month are recorded before completing the statistics for the current …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 5 MONTHS AGO
More and more, real estate is a global concern
Whether you agree or not, government plays a role in the housing market. From the Government Sponsored Enterprises, like Fannie Mae and Freddie Mack to the loans insured by the Small Business Administration, Federal Housing Administration or United States Department of Agriculture, the government does have a hand in the …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 5 MONTHS AGO
NAR issues five-point plan for housing
A policy meeting early this month meant a meeting of two of the nation's respected think tanks - the Progressive Policy Institute and Economic Policies for the 21st Century. Due to the continued lackluster state of the housing industry, the purpose of the meeting was to create a list of …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 6 MONTHS AGO
Market activity positive in third quarter
It's easy to look around and be gloomy, but there is always something positive to be found if you look closely enough. Just as we reported here last week, we are slightly ahead of last year's total number of sales as reported by the Multiple Listing Service.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 6 MONTHS AGO
The weather changes, the market does not
Many have long held that the best time to sell real estate is during the summer months when the weather is nice. Some think that people move more when school is out. Although more people list their properties for sale then, a quick look at a summary of our market …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 6 MONTHS AGO
Local Multiple Listing Service best option
Over the past 10 years we Realtors have found more and more opportunities to expose your listing to prospective buyers. Craigslist now is commonly used and many of you who desire to sell your own property use this service as well.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 6 MONTHS AGO
Distressed properties present challenges
Persistent unemployment likely means that we will continue to see a certain amount of distressed properties that many view as opportunities. Of course, these properties usually are priced to move, but when they are priced below what is owed there are risks for buyers and sellers alike.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 7 MONTHS AGO
Fed seeks solutions for foreclosed inventory
With the foreclosure market still strong, the government is debating what actions to take. Last week's announcement by the Fed that they were looking at ways to lower mortgage interest rates even more is likely to send some back into the "wait and see" mode, while investors continue to buy.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 7 MONTHS AGO
What would Buffett do?
In light of the current uncertainty in the real estate market, if you were thinking of Jimmy Buffett, your answer may be, "Blend another Margarita." If, on the other hand, you were thinking Warren Buffett, your answer would likely be, "Only buy something that you'd be perfectly happy to hold …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 7 MONTHS AGO
Local real estate sees improvement
The Coeur d'Alene Multiple Listing Service covers a wide geographical area, so to say the market is better than last year requires qualification. Overall, we are performing better than last year but prices in Coeur d'Alene/Dalton and in Post Falls remain lower than last year.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 7 MONTHS AGO
August performance exceeds expectations
With all the bad news about it is easy to be affected. It seems though that there are plenty of folks who see opportunity and are prepared to answer when it knocks. With loans for residential real estate still below 4 percent and housing prices near 2003 prices many folks …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 8 MONTHS AGO
Realtors lobby for help with home ownership
In a market many describe as "sluggish" Realtors continue to press for solutions. This past week a number of sources report that Washington is considering several proposals to breathe life back into the housing industry. Even though mortgage rates persist at their lowest levels seen in 40 years, sustained high …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 8 MONTHS AGO
Small business gets boost from unlikely source
If you own a small business that has been trying to expand or even survive, you know how challenging it can be to borrow money in today's environment of cautious - even contracted - banks. This coming November you are likely to find that your bank has had a sudden …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 8 MONTHS AGO
More good delivered to the community
Last month we reported that more than a hundred of your goof-off Realtors were out playing golf. We are pleased to report that we accomplished what we set out to do; had a great time and raised some much needed money for a very worthy cause.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 8 MONTHS AGO
Market shifts send mixed message
It seems that everywhere we go someone wants to know, "How's the real estate market?" Although the correct answer is, "It depends where you live," that is harder to sell these days. The overall perception seems to be that the market is the same as it was and will be …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 8 MONTHS AGO
Mortgage help continues in Idaho
When we reported here that homeowners in jeopardy of losing their homes may find some relief through the Emergency Home Owner's Loan Program (EHLP) we didn't think the money would last. After all, Idaho was one of only a handful of states that received funding and only enough to help …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 9 MONTHS AGO
Should you buy or continue to rent?
We know there are plenty of reasons for folks to rent their homes. Young people just out on their own who haven't built good employment or credit history are the obvious ones. Folks with transient employment that causes them to move frequently are not good homeowner candidates. Some people have …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 9 MONTHS AGO
Preliminary stats may indicate improvement
Although not complete, the preliminary June figures imply some stability may be returning to the local real estate market. Overall, activity remains below last year. May's figures showed sales off 8 percent while June reflects a 9 percent decline, year over year. Still lagging, due in part to the loss …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 9 MONTHS AGO
Bargains aren't always
Ronald Reagan once said, "The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.'" Recently, we were reminded of how true that statement can be.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 10 MONTHS AGO
Shadow inventory less of a threat
With all the news about the housing slowdown there are still signs of market improvement. Although the headlines are largely discouraging with their persistent message of slowdowns, there are other areas where slowdowns give us hope.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 10 MONTHS AGO
Be careful out there
Scammers are everywhere. We have warned you here before about equity skimming scams, rent back-sell back scams, mortgage scams and phony Realtor scams. Last week we were again reminded of the need for vigilance among our own. Scammers not only attempt to victimize property owners, but Realtors as well.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 10 MONTHS AGO
Effects of tax credits apparent
Although the tax credits have long expired, the resulting slowdown from its expiration is painfully apparent. Our May sales figures show a significant slowdown from last year's sales that will no doubt persist through September. September 2010 was the last month that credits could be applied to purchases, provided the …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 10 MONTHS AGO
Uncertain times increase caution
Folks are usually cautious when approaching an investment as significant as buying real estate, as they should be. Foreclosures in virtually every neighborhood would imply that caution is not always the dominating influence. As those foreclosures occur neighbors become more conscious of their own situation and begin to re-evaluate their …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 11 MONTHS AGO
Market stabilization continues
The latest market statistics have been compiled and depending on where you live, you will be pleased or discouraged. As reported with regard to statistics at the end of March, Rathdrum was a strong geographic area of market activity. April's activity shows that the Rathdrum/Twin Lakes average price remained equal …
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 11 MONTHS AGO
It was the best of times, it was the worst of times
With apologies to Charles Dickens, this is the tale of two markets, the buyer's market and the seller's market, for it is both.
COEUR D'ALENE PRESS | UPDATED 13 YEARS, 11 MONTHS AGO
Two sides to foreclosure
Of course you know we are seeing a pretty active market in foreclosed and short sale properties this year. So far this year, roughly 40 percent of our residential sales have been of foreclosed properties. All indications are that we will continue to see these foreclosures as prices for essentials …
COEUR D'ALENE PRESS | UPDATED 14 YEARS AGO
Time really is money
You must have seen the news last week as headlines screamed, "Rising Homes Sales Point to a Recovery." It seems that the economy is so slow that any news is good news, although the discriminating reader is bound to suspect any improvement, given that real estate prices continue their decline.
COEUR D'ALENE PRESS | UPDATED 14 YEARS AGO
Statistics show balancing act
March real estate sales figures show a geographical shift in activity. The long impoverished Rathdrum area showed a dramatic 77 percent increase in sales this year to date, although overall our sales are down 1 percent from last year. We certainly don't see that as cause for alarm and our …
COEUR D'ALENE PRESS | UPDATED 14 YEARS AGO
Time is not on your side
If you are a homeowner in distress, time is running out for an emergency home loan. As reported on Friday, these programs made available through the U.S. Department of Housing and Urban Development (HUD) are for folks who are in jeopardy of losing their homes to foreclosure.
COEUR D'ALENE PRESS | UPDATED 14 YEARS AGO
Glimmers of hope
Unemployment figures are falling. Not enough to make everyone happy, but after the long, job scarce market, any news of higher employment is welcome and at least some are happy.
COEUR D'ALENE PRESS | UPDATED 14 YEARS AGO
Mortgage rates, tax deductions help homeowners
We continue to watch mortgage rates as their status remains tentative. The Federal Reserve is scheduled to stop buying Treasury Bonds at the end of May. Most agree that this will surely cause an increase in mortgage rates. As of Friday, interestingly enough, the Idaho Housing and Finance Association website …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 1 MONTH AGO
A little housekeeping
Every once in a while we like to bring you up to date on a variety of issues that may be important to you, but don't warrant a full column. Today is one of those days so here are some short bits of information you may want to know:
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 1 MONTH AGO
Foreclosures, sales increase
Driven by low prices in many areas of the Multiple Listing Service (MLS) area, sales of single family homes on less than an acre are outpacing last year's sales. While Coeur d'Alene and the northern portion of the county show less activity than in 2010, the rest of the market …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 1 MONTH AGO
Sales are neck and neck year over year
Many of the agents we spoke with last week are saying they are busy so we wanted to see why. On Friday, we checked the Coeur d'Alene Multiple Listing Service to see how the market was stacking up to last year. Remember last year was the year of tax incentives …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 1 MONTH AGO
Seniors have housing options
The longer we stay in a home the less we use it. Or so it would seem. Many seniors are discovering that the house they loved, the home they raised their families in, now seems massive. Often they discover that they are no longer using a large part of the …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 2 MONTHS AGO
Seller beware of scam artists
These difficult economic times have some people grasping at straws for ways to make ends meet. This presents opportunity for "quick fix" scam artists that can rob people of the equity in their homes. Usually these scammers target the elderly, but a recession like the one we have been experiencing …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 2 MONTHS AGO
Rising mortgage rates cause concern
Although our customary check of the Idaho Housing and Finance Association's website on Friday showed their rate held at 4.88 percent for a 30-year mortgage, other lenders are seeing increases in those rates. Freddie Mac's Mortgage Tracker reports the nation's average rate for last week has risen above 5 percent …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 2 MONTHS AGO
Early numbers show increased activity
Although very preliminary, meaning the stats are not boiled down yet, January sales totals indicate a 37 percent increase in number over last January and an 11 percent increase over January 2009 giving us the strongest start in at least two years. Although our 114 sales exceed January of last …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 2 MONTHS AGO
Cheap money may drive housing
The recent dip in mortgage rates may provide a boost in demand for housing. As of Friday the Idaho Housing and Finance Association website (ihfa.org) showed a 30-year fixed rate mortgage at 4.75 percent once again. This is good news for buyers who found themselves in panic when rates ticked …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 3 MONTHS AGO
2010 sales finish ahead of 2009
Buoyed by sales of homes on acreage and discounted condominiums, we ended last year with an increase in sales activity. Unlike the condo market though, the homes on acreage category showed an increase in average price. Sales of residential properties on acreage increased by 44 percent, from 308 sales in …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 3 MONTHS AGO
Loss of deduction will be blow to housing
As Congress looks for ways to trim the deficit they are sure to look again at eliminating the Mortgage Interest Deduction (MID). This deduction has been an incentive for homeownership for more than 80 years. Many homebuyers rely on this deduction to make housing affordable.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 3 MONTHS AGO
A new decade begins
One of the great things about a new year is just that, its newness. It offers a clean slate and a chance to start over, building a better year than the last. Yet, as we begin the new year the prospects are cloudy. As we seek the bright spots in …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 4 MONTHS AGO
We are all in it together
In this last column of the year we reflect a bit and project a bit, at least as well as we are able in these uncertain times.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 4 MONTHS AGO
Cheer up, things could be worse
So the old saying goes. "And then I cheered up and sure enough, things got worse," said the curmudgeon. But things don't appear to be getting worse in our real estate market.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 4 MONTHS AGO
Too serious for confusion
It is a pet peeve when people use industry vernacular in a discussion. Their acronyms and abbreviations don't mean a lot to people outside their profession and only serve to create confusion and misunderstanding. It is understandably an easy trap to fall into. The longer we do something, the more …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 4 MONTHS AGO
The time is right to buy or sell
This week's news of rising interest rates should get the attention of those contemplating a change in their housing status. These last three weeks we have seen a modest rise in interest rates among the nation's lenders. Fannie Mae reports that last week's typical 30-year loan rate was 4.46 percent, …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 4 MONTHS AGO
Some foreclosures continue to stall
Several weeks ago, we told you about foreclosures being halted by major banks due to confusion about the true ownership of the mortgages. Regular readers will remember that shortly after that article appeared, some banks reversed their positions and began pursing foreclosures again. They will remember too, that Idaho and …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 5 MONTHS AGO
Sales tax on home sales?
Not yet. The Internet is a wonderful tool that makes mass communication a viable option for anyone with access. Unfortunately, as with any tool, there is misuse as those with less than honorable intentions use the Internet to spread rumors and create panic.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 5 MONTHS AGO
Local home sales still ahead of last year
The staff at the local Multiple Listing Service (MLS) has completed their monthly compilation of statistical information for area sales. The good news is we are still running ahead of 2009 in total sales.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 5 MONTHS AGO
Not much change in the market
As we continue to watch market conditions we see little change in local real estate since we last reported. Agents continue to report steady activity and attribute it in part to the attractive mortgage interest rates. In fact, we have seen stability in interest rates over the last several weeks …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 5 MONTHS AGO
Value is related to accuracy
When we began this column in the spring of 2008 it was partly a reaction to negative information presented to our community by outside media. We wanted you to have accurate, local information about our market. Throughout our planning discussions The Press was empathetic to our position; that our market …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 6 MONTHS AGO
Foreclosures have impact beyond their neighborhoods
Anyone living in a neighborhood where foreclosed properties proliferate has seen their impact. If you have a home for sale and right down the block is a foreclosure, it can be difficult to sell yours for a fair price. The bank that owns the foreclosure is more interested in getting …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 6 MONTHS AGO
New statistics show continued adjustment
No one really thought the stellar performance of the first half of the year would sustain after the expiration of the tax credit. You may recall at the end of June we were up 44 percent compared to June of last year.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 6 MONTHS AGO
No crystal ball predictions here
Because of our profession, we Realtors are often asked "How's the market?" As a sign of the trying times we are in as a nation, the question has changed somewhat. Now, what people most often want to know is, "When will the market improve?"
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 6 MONTHS AGO
Commercial market may see some relief
Last week the president signed the $30 billion "Small Business Jobs Act" to aid small and medium businesses by providing funds for loans. Another portion of the measure provides tax relief to encourage job creation. The funds will be made available to community banks through the Small Business Administration (SBA) …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 7 MONTHS AGO
Good news this week
We are not sure the area's unemployed would agree, but apparently the recession is over. Yep, according to the National Bureau of Economic Research, the recession officially ended in June of 2009.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 7 MONTHS AGO
More statistics for the numerically minded
A reader correctly bemoaned the fact that many of our outlying areas were not included in last week's report. When asked, "Why?," we had to pause. One reason is that the smaller numbers in the less populated areas, as they stand alone, represent seemingly huge statistical trends. Another reason is …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 7 MONTHS AGO
Sales still strong, price declines slow
It's hard to believe the year is 70 percent passed already. Judging from our trends so far, the local real estate market may be headed for greater stability. On the heels of steady declines, first the 16 percent in 2008 followed by the 14 percent in 2009, declines in most …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 7 MONTHS AGO
Must be the season for reasons
The editorial cartoon from the Philadelphia Daily News on Monday caught our attention. The sketch depicts a man listing his accomplishments: "I climbed Mount Everest" he says in the first picture. "Scaled the walls of the Grand Canyon" he continues, "and survived being lost on a deserted island." The last …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 7 MONTHS AGO
Long on patience? Try a short sale
With unemployment in Kootenai County reaching 10 percent once again, unfortunately there are homeowners unable to make their payments. Seeking to avoid foreclosure many homeowners are opting to sell short. What this means is, that they are willing to accept less than they owe for their home.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 8 MONTHS AGO
What does a Realtor do?
Ask anyone you know what Realtors do and you will usually hear, "They help people buy and sell homes." This simplistic answer summarizes the effect of Realtor actions for many, but Realtors are involved in all aspects of your community.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 8 MONTHS AGO
Area sales slow, but news is good
July figures are out and as expected, we could not sustain the previous month's increase in Year to Date (YTD) sales. You will remember that June's figures reflected a 44 percent increase over the same period of 2009.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 8 MONTHS AGO
National activity reflects some improvement in real estate
Some good news this past week from the national market as reported by the National Association of Realtors.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 8 MONTHS AGO
Lower prices driving sales
Year to date statistics have been compiled through June and reinforce that market activity is the best in years. That is of course, unless you are a seller.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 9 MONTHS AGO
We win again!
You have probably read by now, that the deadline to extend the tax credit was extended in the 11th hour to Sept. 30. This is not an extension that allows buyers to gain a credit by buying before then, instead it protects those who had accepted offers by April 30 …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 10 MONTHS AGO
Deadlines loom as Congress delays action
As the June 30 deadline to benefit from the tax credit rapidly approaches, the House of Representatives takes an extended weekend. Voting to extend the deadline cannot take place now before next week and if the extension is approved, it will come in the 11th hour. This leaves many buyers, …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 10 MONTHS AGO
Interest in housing still strong
Whether it is the low interest rates, ample inventory or the reduced prices, interest in area real estate is still high.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 10 MONTHS AGO
Tax credit end does not mean the end of opportunity
Last week we took the opportunity to visit several of the agents who sit open houses daily in subdivisions with homes for under $150,000. These same subdivisions were a flurry of activity in the waning days of the expired $8,000 tax credit.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 10 MONTHS AGO
Things may get difficult for owner financing
Many of you remember the early '80s. That is when many of today's homebuyers were born. It is also a time when America was in a recession and interest rates soared due to rampant inflation. It was not unheard of in those days to learn of a mortgage interest rate …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 11 MONTHS AGO
Working hard for the money, free to do so
You probably know a Realtor or two. You may think they make a lot of money. You probably don't think about how hard they work, they seem to come and go as they please. You probably don't care about the money they invest to attract each client or how many …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 11 MONTHS AGO
They're back
A breed not seen for awhile on the real estate landscape is becoming active again.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 11 MONTHS AGO
It's amazing
Interest rates are down for the second week in a row, contrary to our predictions.
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 11 MONTHS AGO
Things are looking up
As expected, sales reported to the Coeur d'Alene Multiple Listing Service show a rising trend in housing demand. Foreclosures and short sales however, have caused an overall decline in pricing. Although our number of sales is up 44.2 percent April figures show our average price lower by 5.5 percent than …
COEUR D'ALENE PRESS | UPDATED 14 YEARS, 11 MONTHS AGO
Tax credits expire. Now what?
We all know the housing stimulus has worked and now it is over. Reports last week suggested that seven of 10 home buyers took advantage of the tax credit when purchasing homes. What is not known is how many of them would have bought homes anyway. As of Friday the …
COEUR D'ALENE PRESS | UPDATED 15 YEARS AGO
Housing stimulus produces desired result
The news is out. Housing sales are up across the country. According to the National Association of Realtors, nearly half of recent home sales are due to the tax credit incentives offered to new and even to existing homeowners. The true test of housing recovery then will be after the …
COEUR D'ALENE PRESS | UPDATED 15 YEARS AGO
Recession brings changes in housing desires
The housing landscape is ever changing. Times like these where recession looms have a tendency to change perspectives. These perspectives affect the housing market, just as high interest rates, expiring tax credits and an influx in foreclosures changes the perspective of what a good price is for a home.
COEUR D'ALENE PRESS | UPDATED 15 YEARS AGO
Market movement continues
March statistics are complete and the pace of 2010 single family home sales continues to outperform previous years. As the table clearly shows we have surpassed both 2008 and 2009 year to date in number of sales. This renewed activity is welcome news to many of us although our average …
COEUR D'ALENE PRESS | UPDATED 15 YEARS AGO
Realtors are committed
In Idaho, all real estate agents operate at the will and under the tutelage of their broker. Ultimately, it is the broker who controls the business dealings you have with the agent. Although all Realtor agents subscribe to the National Association of Realtors Code of Ethics, from time to time …
COEUR D'ALENE PRESS | UPDATED 15 YEARS AGO
Local real estate still moving
Headlines this past week show that housing sales stalled for the fourth straight month nationally, while sales in our market continue to outperform last year. As of this writing our Multiple Listing Service reports that sales in Kootenai County are still ahead of 2009 by 25 percent. This reflects a …
COEUR D'ALENE PRESS | UPDATED 15 YEARS, 1 MONTH AGO
Beware of mortgage rescue scams
A quick review of real estate classified ads reveals a growing number of short sale or foreclosure properties for sale. While these distressed properties present bargain hunting buyers with opportunities, they create an environment for sellers to be victimized.
COEUR D'ALENE PRESS | UPDATED 15 YEARS, 1 MONTH AGO
Riverstone condos moving again
Representatives of the Village at Riverstone report they are half way to selling out their luxury condos. A well advertised auction in January led to the sale of 14 units, most of which have closed and 11 are currently in escrow. According to Riverstone representativescurrent totals put them at 50 …
COEUR D'ALENE PRESS | UPDATED 15 YEARS, 1 MONTH AGO
Confusion about tax credit still prevalent.
An offhand comment from a young lady last week caused us to realize that we have not been complete in our explanations of the Federal housing tax credits. Perhaps we assumed that it was as important to consumers as it is to us.
COEUR D'ALENE PRESS | UPDATED 15 YEARS, 2 MONTHS AGO
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