buying homes

Why is Boise Such an Attractive Place to Move to?

From my experiences of moving to Boise, more than once, I feel I’ve become an expert on moving here. That’s right, I’ve moved here twice! The first time when I wasn’t even one year old and the second was returning home from college after sixteen years of being gone to other states. Shouldn’t that make me an expert? Especially when you think of the United States and all the millions of people that live there and all the millions who have never moved to Boise, you have to realize the expert I truly am…after experiencing it twice! I’m hoping to never experience it again either, because I never want to move away, I want to stay right here in good ole Boise!

What makes people choose a certain place to live over another? Is it job, weather, location, family, safety, lifestyle, cost of living, a place they can afford? Are any of these qualifications of why you would think about moving? If so, I’d love to create a reason for moving to Boise. As I stated earlier, I was raised right here in Boise. In fact, I was raised on one of the most beautiful locations with the Boise River right in my backyard. When you looked out my window from front of our house you’d see our five acre alf alfa field. For you city folk that don’t know what alf alfa is-it’s that yummy stuff our bovine eat. For those big city folk, bovine is where hamburgers come from- yep, cows! When you looked out my window from the back you got to see the Boise River with the forest lining it’s back. I had six brothers and sisters so luckily no neighbors were close enough to hear all our racket!

Right now, there are many many Boise houses that are along the gorgeous edge of the rivers that wind through our beautiful city. If someone would like to see the view out your back window into a river lined with trees and also look into their neighbor’s window (who is certainly within yelling distance) maybe Boise is for them.

For several years, people have voted Boise one of the United State’s most livable cities. Micron, Boise Cascade, Simplot, The Washington Group, and Hewlett Packard Home are some of the big names housed here in Boise-we’ve got quite a group of technical and corporate employment. Plus, a variety of smaller businesses have cropped up as a result of these big companies, so lot’s of job opportunities. For example, Boise was rated as the #2 place to begin a business by one big name business publication only a short time ago. Boise State University, a trade school, and several smaller universities, give Boise residents the best tier schooling chances not to mention their blue football fields.

Following my many years in Chicago, I can’t believe how close I came to starting to love the pollution, the constant threat from criminals, and being stuck in traffic all the time, of course I can’t forget the dishonest politics and community leaders promising all sorts of unfulfilled promises (Illinois has more than a couple of past Governors who are in court or already imprisoned). I see how close I came. Imagine Boise’s over 25 miles of greenbelt bike paths for walking and jogging too. These paths follow the beauty and winding of the river. Our ski resort is only a half hour from downtown and we still have two other ski resorts only a couple hours away. Almost every home property in our Boise valley has amazing views of our mountains. In addition Boise is a just a short drive to national wilderness land and the tallest sand dunes in America. Wait, maybe I’m not missing the polluted air or the politicians or the overcrowding.

Speaking of politicians, Boise crime rate dropped 37% over the past decade according to the Boise Police Department. (I assume they are telling the truth.) You’ll be happy to know that only 490 cases of graffiti were reported in 2006 and there were only 65 domestic violence felonies. Yes- 65 in the whole city for a whole year. While 65 domestic violence is too much, it’s rare indeed here in Boise. There were 7 murders in Boise in 2009. To put that in perspective, Detroit had 361 during that same time period. If you like violent crime, you may find Boise rather boring. If not, you might find Boise a darn nice place to raise a family. By the way, I tried for years to get someone to steal my car by leaving it unlocked with the keys in it. Couldn’t ever get the job done. Not sure if that’s a reflection on Boise or my car. Out of the 272 metropolitan areas that the FBI tracks for violent crime, Boise ranks 219. Seriously, go to their website and look at the places that have LESS crime than Boise. You’ve never heard of any of them. Only six on that list have a bigger population than Boise. Enough said-it’s a VERY safe city.

Well that’s about it. I hope you’ve got the picture. After reading back over this, I cant think why you wouldn’t want to move to Boise. Oh yeah…one more thing-real estate prices. Right now Boise is more affordable than it’s ever been since we’ve been tracking it. If you’re just an average Joe (and don’t we all feel pretty darn average most of the time) you’ll spend less than 20% of that average salary of yours on that average Boise home. Try comparing that to other cities across the country. If that information is hard to track down, try this one-the average price per square foot is around $79 for that average Boise starter home we were just talking about. It costs less per month to buy in Boise than it does to rent. Hurry up! That won’t last.

Are you ready for your own house? Have a quick look at our article on how to buy Boise homes and for more info on how and where to find a great Boise real estate agent

buying homes

Searching The Changing Real Estate Market

Currently, the real estate market is not doing very well because of the downturn in the economy. However, for those who can afford it, now is a great time to obtain property at a very reasonable price. Many foreclosures and short sales are available.

Short sales are an opportunity for homeowners to get out from under the burden of an over-priced house and high interest payments. With these sales, a bank or lender agrees to sell a home for less than is owed. The rationale is that it is better to get some money out of the property and avoid the long process and costs of foreclosure.

Previous to the present housing crisis the difference between the amount owed and a short sale was considered taxable income for the seller. The tax code has been changed, through 2012, in that this difference is not taxable and does not need to be reported. After that date, it will go back to being taxable unless the code is renewed.

A number of investors are purchasing foreclosed and short sale homes, hoping for a future gain when property values rise. In the meantime, they are renting out many of these properties for more than the monthly payment, which allows them to make the mortgage payment and put something aside for possible maintenance. This is a wise decision for those who can afford to do so, as property has always showed a good return over time.

In purchasing a foreclosed or short sale home, it is extremely important to have an independent building inspection report before making a purchase. Extensive repairs, especially on ‘as is’ sales can be very expensive and can cost more than the amount one saves on the purchase price. In addition, checking out the neighborhood for any possible problems is also important.

Anyone currently purchasing a home and taking out financing should be sure that the contract has a ‘fixed-rate’ interest. A number of previous home owners, who had variable interest rate found out, to their dismay, that the interest changed almost every month, always going up. A fixed-rate will stay in place regardless of the length of the mortgage.

Having one’s own home is the dream of many people. To do this it is, as a rule, necessary to get financing and obtain a mortgage. Many people bought over-priced homes with high-interest payments which, at the time, seemed reasonable. When the economy went bad, they found they no longer could afford these payments. As a result, there are numerous ‘For Sale’ signs in every city. For others, however, this situation in the real estate market has provided the chance to make the home-ownership dream come true with a nice home and reasonable mortgage payments.

Get complete details and information on the fast and easy ways you can get Boise Real Estate today! When you work with a knowledgeable professional, you will find the Boise Homes you want to compare quickly.

buying homes

When Is a Good Time to Own Your Own Home?

There are a lot of reasons to want to have your own home. When considering this option, however, it is important to know what options are available. These questions can help you know whether you are ready to be a homeowner or not.

What is your current employment situation? Have you just started working regularly at your job? Or have you been working at your job for a few years. The longer history you have at your job, the better it looks to financial institutions who will be supplying your with your home loan.

How much savings do you have put aside for your home? Many professionals recommend being able to put down a 20% deposit down for a home, while others only ask for around 5%. Lenders typically like to see buyers who have a few months worth of mortgage payments saved up in case of emergencies. Showing that you are financially able to buy the property is a great way to impress financial institutions giving out mortgage loans.

Do you know your credit score? A good credit score can give you great loan options, while low credit scores give you much different options. If you have anything that you need to resolve, do so before you go in for a home loan.

How long are you planning on staying in the area? Are you settled and want to stay put in the area? Or are you still trying to figure out career choices and what city you would like to end up in? These types of decisions can greatly affect whether owning a home is the right choice for you.

What is your current financial situation? Are you in a reliable job opportunity that you see having long term? Another thing to consider is what your debt-to-income ration will be. After you put all your money in to paying off your debts, how much is left over for your other expenses? Do you have enough to survive on?

How much of your monthly income should you put aside for your housing? A good rule of thumb is to keep 28-31% of your income towards your housing. If it exceeds that then you might want to consider a less expensive home option. When factoring in expenses for the monthly housing payments be sure to include not just the mortgage payment, but also the homeowner’s insurance and property taxes.

Are you responsible enough with your money to buy a home? How responsible are you with your money? Do you stick to a reliable budget? Are you constantly behind on payments? If you are struggling in that area, you might want to wait to have the financial responsibility of having your own home.

Ready to make the move into your own place? Check out our article on how to buy Boise homes and for comprehensive information on how and where to find a reliable Boise real estate agent

buying homes

Buy After Foreclosing In This Real Estate Market

Due to the current recession, many homeowners have had to foreclose during the present real estate market. If any of these individuals want to own a house again, all hope is not lost. They may still be able to buy a house once they start repairing negative credit, accumulating more savings, and searching out an empathetic lender.

The waiting period to obtain a mortgage after foreclosing used to be up to 4 years. However, in order to help foreclosed homeowners get a new mortgage more quickly, the Federal National Mortgage Association has cut the time in half for borrowers with a 20% down payment.

Borrowers with only a ten percent down payment usually must wait about 4 years. But they may be able to get around this if they have concrete evidence that the foreclosure was due to job loss, death, or divorce. If the proof is acceptable, the waiting period could be trimmed by half. This time could be wisely used to improve credit standing, find a higher-paying job, and enlarge savings.

Sharing rent or living with family members could be a good idea after experiencing foreclosure. This strategy could help individuals looking for a new home loan pay down debt and build up savings. Paying rent and bills in a timely manner and keeping good account of all payments could be helpful as well. Some financial professionals believe that this gives borrowers more credibility with lenders.

Opening a Certificate of Deposit account may be another good way to repair poor credit. The idea is to get the bank to agree to a line of credit in the same amount as the CD which is used as collateral. Using a card tied into that same account to pay bills regularly and punctually can show the borrower is financially responsible. According to experts, local banks may be more amenable to lending to borrowers with a troubled financial history.

Securing a Federal Housing Administration or FHA loan can be a good option for people who had to foreclose. The federal government insures this type of loan so they are generally easier to get for individuals who had a previous foreclosure. Although the waiting period is 3 years, only a 3.5 percent down payment is needed. Borrowers should make sure that they have a great bill-paying history, since this is crucial with FHA loans.

Someone who has had to foreclose on a house should not give up hope of ever owning another home. It is possible, even in the current real estate market, to own a house again. The way do it is rebuild credit, augment savings, and find a lender who understands the financial limitations of the borrower. It is a good idea for anyone thinking of purchasing a home to consult a real estate or financial specialist.

Lost your home to a foreclosure judgment? Check out our review on how to buy Boise homes after Foreclosure for comprehensive information on how and where to find a reliable Boise real estate agent

buying homes

The Current Conditions of Real Estate in Boise

Growth and recovery are often slow moving. It doesn’t always go up in a straight path, either. There are many times when the path will be a little bumpy with a lot of ups and down along the way.

This has definitely been the case with real estate recovery. It hasn’t been a nice, clean upward path of recovery. On the contrary, there have been quite a few zigzags throughout the past year.

Boise real estate prices have both increased and decreased in 2010. For the most part home prices have steadily increased. There was a dip in prices in December 2010 and January 2011, however.

This wasn’t a big surprise, however. Ups and downs, as mentioned before, are normal in the recovery process. This is especially true for real estate. Prices have already started to increase, starting again in February 2011.

Small ups and downs in markets are actually a good indication. Obviously, the more ups than there are downs the more profitable it is for people selling their homes. But a decrease in home price is also beneficial for those buying.

It is important to keep an eye out, however, on other thing than just home prices. The number of distressed homes on the market is also something to watch for. If there are a lot of foreclosures and distressed homes on the market this isn’t the best news.

There are still many foreclosures and distressed homes on the market. However, the forecast for 2011 still is that home prices will continue to rise and market will continue to increase. This slight rise affects both the economy and real estate prices.

There has been a continued rate of economic growth and a steadiness with retail sales and low interest rates.

To find out more about the Boise real estate market, contact The HELP Program, a real estate agency specializing in buying and selling Boise homes.

buying homes

Real Estate Investing – Getting the Mindset

Most new real estate investors, all seem to have one critical element missing straight out of the gate when they start investing.What are they missing? The real estate investor’s mindset. Let’s break this down into a few simple things every new real estate investor needs to understand.

This is business, nothing personal. Having the real estate investor mindset means above all else, you understand that what you are doing is a business. That means you must look at this without the emotion that you have when buying real estate for your own personal use. This is not a home that you are necessarily buying for yourself. This is merely property that you are investing in to use to benefit your retirement, future nest egg. Or perhaps using it to develop financial resources to send your children to college.

Don’t make any emotional purchases. You are not looking for your dream home but an investment. Do not fall in love with any particular property. All of the purchases of real estate should be looked at from a bottom line perspective.

Shop as if you’re going to give the property to a family member. By shopping as if you were going to give this away to say your children as their first starter home, this means you need to evaluate a few things that will assist with the eventual sale of this investment.

Most new families are looking for real estate in locations that have good schools, good shopping, easy access to major freeways, low crime rates, as well as a plethora of other services and potential personal meets. Observe the surrounding areas of any potential purchase. Are the streets clean? Are the yards and the other homes well taken care of? Do you notice graffiti? These are things that you must factor into looking at future “curb appeal.” That will assist with the eventual sale of your invested property.

Educate yourself. Every good investor works on increasing his education. Not just of real estate transactions or real estate investing purchase options, but of the most important details involved in real estate investing. Those details simply understand what needs to happen to achieve a sellable product in the shortest amount of time in the most financially responsible way.

If you have no construction or contracting background, then you must have a concept or understanding roughly of what the remodel and/or repair costs may be per square foot for any investment property you are considering. If you are looking at an older home, what is the overall cost to do any update work? The cost to do any possible plumbing or replacement of electrical? What would it cost to replace the roof?

Now while this education may work or you may have the understanding of the costs in your immediate area. What happens if you invest outside of your immediate understanding and area? For example, will a handyman in Dallas Texas cost more or less than a handyman in San Francisco? For example, what are zoning laws from state to state for your type of property? What are the permits required to do a room addition in San Diego vs. a room addition in Oklahoma City?

The investor’s education is the most the important tool they have.

Real estate investing has always been a team sport. The largest investors in the country have dozens and dozens and dozens of people that work for them. Donald Trump has a staff that spreads into the hundreds of personnel.

No one that is serious about investing can do all of it alone. There are certain people that you must find and have on your team. Take everyone in on an initial trial basis. Use real estate agents; they will know the best deals/best properties available within your area. A good real estate agent is worth his weight in gold. Don’t try and arrange purchases on your ownespecially if you are considering a purchase out of your immediate local area of expertise.

You will need to find appraisers, groundskeepers, contractors, plumbers, electricians, and quite possibly a “handyman.” The reason for finding all of these various professionals is to have them on call should you find that property and have the available funds to pick up, hold, and refurbish/remodel the property and sell it. Understand that your relationship with these individuals is as critical if not more so than finding the property yourself.

Interested in learning more? Get more valuable Real Estate Investment Information at Invest in Real Estate. Free reprint available from: Real Estate Investing – Getting the Mindset.

buying homes

Marketing a House with Modern Technology

Home owners selling a home know that the process can be extremely stressful, particularly if there is an emotional attachment to the home and the process is becoming difficult. But thanks to the internet revolution and a growing number of real estate websites and companies, selling a property has become increasingly easier over the past few years and a number of sellers are finding that they can sell a home quickly.

Traditionally, home owners would hire an estate agent to market their property for them. With their property expertise and knowledge of the market, property owners have entrusted estate agents will selling their home. However estate agents can be costly, and when the fees begin to add up, the value that the home owner receives diminishes.

Many home owners are now finding that selling a home privately saves a significant amount of money and also provides the advantage of a shorter marketing period. There are usually no advertising costs and they can potentially sell their home in a number of weeks thanks to the number of websites and companies that exist for quick private property sales.

Marketing a property was previously much more difficult. Estate agents would advertise the property in their window as well as using traditional media such as newspaper adverts. Many property owners would have to rely on word of mouth to find a buyer and the selling period could drag on for many months.

With modern technology accessing the property market is much easier for people wishing to sell their home and a number of companies now exist who are able to offer cash extremely quickly for a home. The majority of these companies are able to pay all of the legal fees that come with selling a home so the seller receives the full value of their home without any fees to pay. The time benefits are significant and many homeowners were able to cash in on the value of their home before the market decline in recent years.

If you’re wondering how to sell my house quickly research one of the leading companies that purchase houses for sale.

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