Idaho Falls Real Estate Video Blog with Shawn Anderson

Making Real Estate Easier

2019-06-25T10:52:00.000-07:00

Real estate can be intimidating, but Anderson Hicks Group is here to help!

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This is Andrew. Andrew hates being an adult. Social obligations scare him, and bills make him want to curl up and quietly sob. On top of that, he has to have “the talk” with his kid in four to six years. If you’re like Andrew, you have much more to worry about than buying or selling a home. Anderson Hicks Group is here to help you!

We get it. No one wants to do the real estate thing alone. So rather than stressing, be like Andrew, and kick back and sip some flavored lemonade on your front porch. We'll take care of the rest.

To see our listings, or get in contact, check out our website here.

3 Common Seller Mistakes You Need to Avoid When Listing Your Home

2019-05-21T11:11:00.000-07:00

Selling your home quickly and for top dollar in our market means overcoming obstacles and avoiding some all-too-common mistakes other sellers make.

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If you plan on selling your home soon, there are three common mistakes you need to avoid if you want to maximize your sale.

The first is forgetting that first impressions are important. Imagine that you’re going to a new restaurant for the very first time—how important is the first impression you get when you pull into the parking lot? Does it look appealing or dirty and rundown?

The same logic applies to your home sale. Your home starts “interviewing” for the job of being someone else’s the moment a buyer pulls up to the curb to look at it. After they get out, they’ll be scanning everything from the front yard’s landscaping to the entire front-facing exterior, and this focus gets even more magnified once they reach the front door and have to wait for their agent to open it.

So, pay attention to the area from the street to the front door and make sure it heightens buyers’ expectations of what the inside of the home looks like.

“

We absolutely have our finger
on the pulse of the market.

”

The second mistake is not hiring a team of experienced professionals to represent you. We see nice houses listed all the time that get passed over because they’re overpriced or their listing photos don’t look good, and having a team like the Anderson Hicks Group by your side will ensure the same thing doesn’t happen to your home.

Because we’re in a seller’s market and inventory is low, it’s widely believed that every home will sell no matter what. While most homes will end up selling, they won’t maximize their sale price without specialization and expertise. You need a professional to handle each phase of the listing process. If you do so, you’ll sell for 5% or even 10% more.

The last mistake is not having your finger on the pulse of the market. The market is changing quickly, and knowing how to put your home in a position to sell is crucial if you want to get the best deal possible. This is one more reason why having a team like us by your side is crucial—we absolutely have our finger on the pulse of the market.

If you’d like to know more about this topic or you’d like to start the home selling process today, don’t hesitate to reach out to us. We’d love to help you.

The Importance of Pricing Correctly in Today’s Market

2019-05-09T12:58:00.000-07:00

Pricing your home correctly is essential, and today we’ll explain why.

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With between one and three months’ worth of inventory available in our market right now, buyer demand is high. Some sellers assume this gives them the license to price their homes however they want, but this isn’t the case. To sell quickly and for top dollar, strategic pricing is key.

Even in a low-inventory market, overpricing your home is a surefire way to deter buyers. And, usually, by the time you realize this is happening and decide to lower the price, buyers will have moved on. The longer a home sits on the market, the less likely it is to attract the interest of buyers.

Ultimately, it’s the market, not your preference, that dictates the price of your home. You’ll need to work closely with an agent if you want to maximize your profit when selling, as they’ll have the necessary tools and resources to choose a price that reflects what buyers are willing to pay for a home like yours.

“

It’s the market, not your preference,
that dictates the price of your home.

”

When you work with the Anderson Hicks Group, specifically, you can trust that our professional marketing strategies will help boost the amount you can earn for your property even beyond what it would ordinarily bring in. It’s all part of what we do as your trusted real estate resource.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

There Is a Shortage of Skilled Tradespeople—But We Can Help!

2019-04-11T10:52:00.000-07:00

Though there’s a shortage of skilled tradespeople, we have just what you need to get the services you’re looking for.

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Since builders and subcontractors are in such high demand right now, homeowners are having a hard time finding people to fix things around the house. Regardless of whether you need a heating contractor, plumber, or handyman in general, it seems like everyone is already busy.

We’re facing a severe shortage of skilled tradespeople. Fortunately, we’ve found a way to get around this problem—we put together a list of the contractors that we ourselves work with. Basically, we have a concierge service that lets us get our clients in contact with the service providers they need. However, we’d be more than happy to share our great contacts with anyone who needs a hand.

When contractors are already booked for weeks on end, it’s easy for them to focus on the job at hand and forget to pick up the phone. A one-off job simply doesn’t hold the same weight as a longer contract. The Anderson Hicks Group works with these contractors on a long-term basis, however, so our connection with them also serves you. You’ll get that phone call returned.

“

We have a concierge service that lets us
get our clients in contact with the
service providers they need.

”

Our contractors do such a great job for us and our clients, and they’d be more than willing to help not only us, but you as well. Reach out to us if you’d like to get a skilled contractor in your home—we’d be happy to put you in touch with one.

In the meantime, make sure to check out our website. It’s a great way to find an accurate value for your home and to check out what comparable homes are going for. And if you have any questions or need more information, contact us! We look forward to hearing from you soon.

Here’s How Buyers Can Still Win in Our Market

2019-03-28T12:17:00.002-07:00

As a buyer in our market, it’s important to work with an agent who can get creative to find you the right home. Here’s an example of how our team does this.

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Everybody knows there is a shortage of inventory in the Bonneville County market, and we’re working with plenty of buyers who are pre-approved and ready to buy—all they need is the right home.

If you’re in the same position, you need to work with an agent and team who know how to get creative in order to find you the right home.

For example, on our team, we’re designing a program that reverse-markets our buyers to the community at large. With this program, we get the word out about who our buyers are and what they’re looking for so that potential sellers know about them.

“

You need to work with an agent and team
who know how to get creative in order
to find you the right home.

”

Additionally, since we have many agents on our team, we work with plenty of sellers in the same market and have our own in-house list of “coming soon” properties that are about to be listed. By working with us, you’d have the inside track to these listings and potentially the chance to buy them before anyone else.

In this way, our buyer program works to benefit our sellers as well. By the time your home is ready to be put on the market, we may already have several buyers who are interested in it and are qualified to purchase it.

If you have any more questions about how we help our buyers achieve their real estate goals or you have any other real estate needs at all, don’t hesitate to reach out to us or visit our website. We’d love to hear from you.

What to Know About Our “Guaranteed Sale” and “Instant Offer” Programs

2019-03-12T12:27:00.000-07:00

If you want to sell your home and have a safety net while doing so, one of these two programs may be perfect for you.

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Our market is facing a massive problem: There isn’t enough supply to meet current demand. In response to this issue, our team has created two options to help sellers ensure their success. After all, any seller trying to find their next home while listing their current one has enough on their plate as it is.

The first solution is our guaranteed sale program. Through this program, we list your home at fair market value, but also sign a contract stating that we’ll buy it from you if no buyer comes along by an agreed-upon deadline. This allows you, as a buyer, to submit offers that are contingent upon the closing of your current home, rather than the sale of it.

If the guaranteed sale program doesn’t sound right for you, you may be interested in our second option: the instant offer program. With this program, we cut straight to the chase and buy your property outright. Generally, we’re able to close within the week. So if time is of the essence, this may be the perfect arrangement for you.

If you have any other questions, would like more information, or would like to speak more about how we can approach your specific circumstances, feel free to give us a call or send us an email. We look forward to hearing from you soon.

What’s Going on in the Market Right Now?

2019-02-12T13:41:00.000-08:00

Our market has slowed down a tad, but that’s only because there are so few homes for sale and such high demand.

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We’ve got another great market update for you. We’re still in a good market, but the big challenge is our limited inventory. At the end of last week, we only had 181 homes on the market, which is a severe shortage. Even just a few years ago, we had four times as many homes for sale.

Because of this limited inventory, first-time buyers are having a tough time and sales are lagging just a little bit. However, it’s still a good market with good opportunities for both buyers and sellers.

If you're looking to sell your home right now, we have 13 agents working with multiple buyers in multiple price ranges. Selling is easy in this market because there are plenty of people looking to buy.

“

February is actually one of the better months to sell.

”

Some people think it might be a little too early to get on the market, but bucking the trend and listing now makes it easier for your home to stand out. I think February is actually one of the better months to list because buyers are looking and most sellers are waiting. The average days on market right now is just 38.

We don’t know what the next 12 months will look like for sure, but I don’t see any economic indicators for a massive slowdown. We will see a bit of a slowdown just because of the limited inventory, but there’s still plenty of demand. Values won’t drop like they did in 2008. When you couple this with rising interest rates, it means this market is a whole lot more stable than what we’ve seen in the past.

If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. I look forward to hearing from you soon.

Answering the Top 5 Questions About Our Merger

2019-01-31T11:02:00.000-08:00

From left to right: Kris Bertagnolli, Mike Hicks, and Shawn Anderson discuss merging their real estate businesses.

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You may have heard about our recent merger, where we combined our real estate business with those of Kris Bertagnolli and Mike Hicks to become the Anderson Hicks Group. Today we’d like to answer the biggest questions we’ve gotten about the merger.

For your convenience, we’ve included timestamps for each topic of discussion. Feel free to navigate to the section(s) you’re most interested in viewing:

0:06 - Answering a big question about the hairstyles
0:33 - Introduction to the Q&A
0:59 - Why did we decide to merge our teams?
2:26 - What was the biggest challenge to overcome when merging?
3:55 - What will be the biggest difference now that we’ve merged?
5:03 - Can people still work with specific agents?
5:24 - Outtakes and bloopers

If you have any other questions or need further information, feel free to reach out to us. We look forward to hearing from you soon.

The Drawbacks of Using Zillow

2018-04-19T09:38:00.000-07:00

While I have nothing against Zillow, there are a few problems with their Zestimate tool and the data they offer on homes listed on the market that you need to be aware of.

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Whether you’re a buyer or a seller, there are a couple drawbacks to using Zillow and their Zestimates that you need to be aware of.

First, I want to say that I’m not against Zillow. Their website is easy to use (I use it myself) and it does provide a lot of value for a lot of people out there. Their most valuable tool is their agent-finder tool. They’re in the business of working with agents and collecting reviews on those agents from consumers who’ve worked with them. If you want to learn more about the Anderson Group and the value we provide to our clients, I invite you to go on Zillow, use this agent-finding tool, and read our reviews.

Now, what is a Zestimate exactly? A Zestimate is an automated valuation tool you can use to get an estimation of a home’s worth. It gives a home’s valuation by compiling data of other comparable homes. There are a couple problems with this tool, though.

If you’re a seller in our Southwestern Idaho area, the first problem is the lack of data. Also, the owners of homes that are on Zillow can edit and update their own home’s information, so the data that Zillow does have regarding homes that are comparable to yours may be false.

Secondly, our area doesn’t have the number of home sales necessary to allow a valuation in a fully automated fashion. It requires hundreds and hundreds of homes to be able to remove the personal element and expertise out of the valuation process and calculate an accurate number for your home.

In fact, Zillow has their own disclaimer that states that their Zestimates are only typically within 15% to 20% of your home’s true value. That disparity can be worth as much as $80,000, so that’s not a valuation anyone can really trust. This is why you need the eyes and experience of a professional agent to help you figure out what your home is worth.

“

You need the eyes and experience of a professional agent to help you figure out what your home is worth.

”

In the meantime, if you want to use a home search website that’s updated in real time and connected to the MLS, head over to our site www.idahofallspropertysearch.com.

The fact that the data on Zillow isn’t current is an especially big challenge for buyers. Oftentimes, Zillow’s data is two or three days old. If you’re a buyer looking in the $175,000 range, many of those houses are sold within 48 hours of hitting the market.

If you’re trying to search and buy a home on your own, you’re typically at a disadvantage anyway, which is why it’s critically important that you work with a professional agent. In your case, work with an agent who’s experienced, who will go to bat for you, and works exclusively with buyers.

Don’t Miss Out on this Great Opportunity in Our Market

2018-04-06T08:45:00.000-07:00

Certain conditions have created a great opportunity for home sellers in our market. Here’s how you can take advantage.

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Something amazing is happening in our Eastern Idaho market right now.

If you look across the board, we only have 1.5 months of inventory, which means there is a shortage of homes available. Some price ranges are even below a one-month supply. Any time a market has an inventory of less than five months, it’s considered a seller’s market.

This lack of inventory isn’t surprising for most people, but the cool thing is that in our area, it’s still a buyer’s market above $300,000. In that range, there’s still an excess of inventory, so buyers can still get a pretty decent deal there.

"The best way to take advantage of a market is to sell a house in a seller’s market and then buy a house in a buyer’s market."

What does this mean? If you’re transacting on both the buyer and seller side in the same market conditions, it doesn’t matter if it’s a buyer’s or seller’s market. Everything is a wash. If you take a hit on one side, you can make it back up on the other side, and vice versa.

The best way to take advantage of a market is to sell a house in a seller’s market and then buy a house in a buyer’s market, and that opportunity exists right now in Bonneville, Jefferson, and Bingham counties. If you list a home that’s under $300,000, you’re listing that home in a seller’s market, which means you’ll be able to sell it quickly and for top dollar. After that, you can look in the price range above $300,000 and take advantage of the conditions there.

If this opportunity sounds like something you’d be interested in or you have any other questions about our current market, don’t hesitate to reach out to my team. We’d love to help you.

The Best Restaurants in Idaho Falls

2017-10-23T12:49:00.000-07:00

I keep a list of my favorite places to eat around Idaho Falls. Here it is.

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Today I want to do something a little different. Instead of talking about the real estate market, I want to talk about the restaurant market here in Idaho Falls. I’m a list-keeper, so when I come across a place I love I put it on a list so that I can pull it up later for future reference. Here are some of the best places on my list around town. Hopefully you find something new!

If you’re looking for some fine dining, there are a number of spots around Idaho Falls you need to visit. When I was growing up here, the selection wasn’t near what it is today. In the last five years, we’ve seen some fantastic, inventive new restaurants open up.

One of them is Chef Shane’s Perspective. When you walk in, you're not quite sure what to expect. However, when the food comes, you’ll know exactly where you are: a delicious restaurant.The Cellar is another classic. I’ve only been there a few times, but I’ve never walked away disappointed. Finally, we have Copper Rill. All three of these places are great if you’re looking for delicious food, whether it’s a special occasion or not.

As far as casual dining goes, I’ve got a few local favorites to share. SnakeBite is one of the best, just make sure you bring cash because they do not take credit cards. Trust me, the food is worth it.

"Make sure you have cash if you're going to SnakeBite."

Stockman’s and Pit Master are also good bets. I’d give Abracadabra’s a shot too if you’re looking for something new.

If you’re looking for something healthy, my wife’s favorite spot is Arugula’s Deli. They've got healthy, fresh food that’s made with all-natural ingredients.

If you’re looking for something on the opposite end of the healthy spectrum, Franklin’s Famous Cheesesteaks is the perfect cheat meal.

If you have any questions about any of these restaurants or anything else relating to Idaho Falls real estate, don’t hesitate to give me a call or send me an email. I would love to hear from you.

Where Is Our Market Headed This Fall?

2017-10-03T09:59:00.003-07:00

As we move into the end of the year, let’s take a look at how our market is faring. Right now, we’re still in a strong seller’s market.

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It’s been awhile since we’ve taken a look at our recent market numbers. So today, I’m bringing you a market update.

As summer comes to an end, a lot of people begin to wonder where the market is headed. If you are one of those people and would like to receive monthly market updates from my team and I, we would be happy to send you out our real estate market overview report.

For now, let’s move on to our latest update. Right now, we have two months of inventory. This has been the case for a while, and we’re still definitely in a seller’s market. In order for us to see a balanced market, the inventory would need to rise up to five months.

The good news is that low inventory points to a strong economy. It means that buyers are confident and ready to make purchases. As a result, homes are moving very quickly off the market, with homes under $200,000 selling especially fast.

In fact, homes in that price range are closer to a one month supply. Even homes up to $400,000 are seeing just about two months.

"Buyers are confident and ready to make purchases."

If you happen to be listing in either of these ranges right now, my team and I would love to help you. No one else invests in driving traffic to your listing the way we do.

But, buyers shouldn’t feel discouraged. There are still a lot of great opportunities out there for those who are looking instead of listing. Interest rates are great right now and listings are coming on the market all the time. Our team has three incredible buyer’s agents who are here to help.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

How Can The Anderson Group Help You?

2017-09-20T10:07:00.002-07:00

The Anderson Group will be servicing Sheldon Dance’s clients while he’s away on his mission, and we couldn’t be more excited to get to work.

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My team and I recently partnered with Sheldon Dance to service his clients while he’s away on a mission trip, so today I want to take this opportunity to introduce The Anderson Group and tell you what we’re all about.

I’ve been in the real estate business for 10 years. I was born and raised in Idaho Falls, so I know this area very well. Our team consists of 15 people, including five licensed agents—two listing agents and three buyer’s agents.

"Our team is ready to help you in any way we can."

Our structure is a little unique in that we have different people on the team who focus on different parts of the business in order to deliver a level of service we’re very proud of. If you look us up on Zillow, you’ll find that we have over 400 reviews from past customers raving about our business model.

Attached below is a letter Sheldon himself wrote addressing this transition and his full confidence in our partnership.

Sheldon's Letter

Our team is ready to help you in any way we can. If you have any questions, please don’t hesitate to reach out to us. We’d love to speak with you.

How Does a Hot Market Affect Appraisals?

2016-05-17T13:39:00.001-07:00

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Our marketplace is currently experiencing rising prices. Likewise, an appreciating market leads to challenges with appraisals. In the last month, I had this situation come up five times. Prior to this year, I probably saw it five times in nine years of selling homes.

Recently, we sold a home in Idaho Falls. After we conducted a market analysis, the home was worth somewhere around $145,000. However, with all the work they’ve done on the property, we ended up listing it at $159,000. The sellers accepted a full-price offer within a few weeks!

The appraiser came back with $153,000 valuation on that house, even though it sold for more. In situations like this, the buyer can walk away if they’re not pleased with the listing price. Their lender might only loan up to a certain percentage as well. On the flipside, because buyers have limited options, you have a higher likelihood to walk away with top dollar.

When you aggressively price a home, it’s a matter of finding a buyer willing to buy it. Sometimes, there will be a dissonance with the appraiser's judgment. However, that’s only one perspective and everyone looks at home values differently. Some buyers are extremely limited and will pay the price for the features they want.

If you’re thinking about buying or selling a home in Idaho Falls or the surrounding area, give us a call or send us an email. We’d be happy to help you and answer any real estate questions you might have!

Idaho Falls Real Estate Market Update

2016-05-12T10:16:00.001-07:00

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Last year at this time, we had a 4.9 month supply of inventory. Five to seven months of inventory is considered a balanced market, and anything under five is considered a seller’s market. So in 2015, we had just crossed the line into a seller’s market, and we have stayed there ever since. Today, there is only a 2.7 month supply of homes on the market, which is a very strong seller’s market. There is a shortage of homes available.

The good news for sellers is that the current list to sales price ratio is 99.6%, meaning sellers are netting almost all of the asking price. Buyer concessions are not calculated into that ratio, but this is still great news if you’re a seller. The market can be a bit challenging if you’re a buyer but there are still some great deals out there. If you work with the right agent, you can still find a property at a good price. Last year, the list to sales price ratio was 98.14%.

Homes are selling faster than they were last year, too. In 2015, the average days on market was 92, and this year, homes are on the market for an average of 75 days. That’s a significant drop.

The average sales price in Bonneville is up from $155,000 in 2015 to $172,000 this year. Those numbers do not reflect the exact amount of appreciation in our market, as the average sales price is pulled up due to the growing number of sold luxury homes. However, we have definitely seen about 7% to 8% appreciation in the last 12 months.

If you’re a buyer, it’s critical to have an agent looking for properties for you every morning. Although it might seem easy to sell in this market, you still need a professional on your side to maximize what you get out of your house.

If you have any questions, give us a call or send us an email. We would be happy to help you!

How to Avoid a Disastrous Idaho Falls Home Sale

2016-02-23T16:38:00.002-08:00

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This is the time of year where people are thinking about getting their home ready for the market. Since there are a lot of things you should be aware of in order to get results, I want to share three tips to help you with the process!

Clean, clean, clean: You would be surprised at the impact this has on buyers. It takes a lot of energy and effort, but it's free. This includes baseboards, ceiling fan blades, light bulbs, fixtures, you name it. There shouldn't be any dust or dirt anywhere in the house -- you want it to feel like new!
Make repairs: Loose doorknobs need to be tightened and blinds that are missing slats need to be replaced. Have a friend walk through the house and identify little things like this; you may have grown used to them, so they may go unnoticed without the help. Go through every room and jot down things you should repair. Don't expect the buyer to do it for you!
Make upgrades: There are two different types of upgrades. Maintenance upgrades are a matter of keeping the home in-line with current trends. Dave Ramsey says that you need to spend between 2-3% of the value of your house each year to keep it maintained. The other type of upgrades are enhancements. You need to be careful with these and know the difference between personal value and resale value. If you would like help figuring out which upgrades you should make, don't hesitate to give us a call.

These three things will help you sell your home fast and for the highest dollar amount. If you have any questions or concerns, we would love to hear from you. We're always available to help!

The Market Today in Idaho Falls

2016-02-11T13:50:00.002-08:00

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I’m surprised by the market in Idaho Falls currently. We’re currently experiencing inventory beginning to expand. As we’ve discussed before, we examine inventory levels through the absorption rate. Now, we have a 2.5% absorption rate.

A balanced market normally has about six months worth of inventory available. Theoretically, it’d take six months to sell all the homes on the MLS. Currently, we have around 2.6 to 3.5 months of supply. Additionally, it takes around 72 to 76 days on average to sell in our market.

We also like to figure out the likelihood of homes selling. I do this by going back ninety days and analyzing homes that have sold since being listed.

This data just scratches the surface. I expect the market to be on fire this year. I anticipate the likelihood for sellers to increase. However, it can’t be done without more inventory. That’s why now is an opportune time to list! If you’re looking to either buy or sell around the Idaho Falls area, I’d be happy to help. Reach out by phone or email!

Why Is Now a Great Time to Sell Your Bonneville County Home?

2015-12-15T15:24:00.002-08:00

There are many great Idaho Falls area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (208) 227-5357 for a FREE home buying or selling consultation to answer any of your real estate questions.

Every year at this time, we begin to see the inventory start to balloon a little bit as sales start to slow down. However, our inventory is currently nearing all-time lows. There are only 479 houses for sale in Bonneville County, which is the lowest I've seen since I started in real estate. Right now, if no other homes came on the market, every available home would sell in only 2.9 months!

There are buyers out there who are still buying, even though it's cold. The holiday season isn't stopping buyers from putting offers in on our listings, so now is not a bad time to put your home on the market.

We've noticed a few trends recently we think you should know about. Since this same quarter last year, we've seen a 55% increase in the number of units under contract. In this last quarter in Bonneville County, 90 homes went under contract, as opposed to only 58 last year. The median home price has also jumped this year, from $163,000 last year to $172,500 right now.

Adding to these promising numbers is the fact that appreciation is at a healthy 6-7% for this year!

If you would like to take advantage of these fantastic market conditions, or if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to give you a hand in anyway possible.

How Home Inspections Benefit Buyers and Sellers

2015-09-21T11:35:00.001-07:00

Today, we'll discuss the home inspection process. The home inspection is a crucial part of the process for both the buyer and the seller, although it is designed primarily to protect the buyer.

When you're looking at a house, you want to be able to focus on whether or not it's the right house for you. You don't want to worry about the nuts and bolts of the home. Once you have your house under contract, there will be a contingency that allows you to have an inspector examine the nuts and bolts for you.

Inspectors keep an eye out for safety concerns and things that will affect the home value. The inspector will climb up into the attic and check insulation, and look out for wiring issues as well, among other things.

It's important to choose the right inspector. Don't choose a lax inspector. We know the best inspectors in the area. You want someone thorough, but also someone who won't cause unnecessary alarm. If there is a major issue with the home, and the seller won't fix it, you do have the option to back out of the house.

From a seller's standpoint, it's important to understand that you should designate some money for inspection repairs. No house passes an inspection 100%. An inspector will find something, and it's smart to have a budget set aside. Some sellers even have an inspection ahead of time so that they can make the repairs before an offer has even been made.

The most important thing is to choose the right inspector. Listen to your real estate agent, because they will have an inspector they know and trust to work with you. If you have any questions, give us a call or send us an email. We look forward to hearing from you!

Recent Market Trends in Idaho Falls

2015-09-21T11:02:00.001-07:00

Today, we'll discuss the real estate market in Idaho Falls. Overall, we're in a very strong market, but there are a few areas that are standing out.

Right now, we have 3.8 months of inventory. Whenever the market is under 5 months of inventory, it means there are not enough houses on the market to accommodate buyer demand. This is good news for sellers, because as demand rises, so do home values. Buyers can still find houses, but they should be prepared for a more competitive market.

Sales will slow down in the winter, but you still have a good chance to sell your home. Buyers who look for homes in the market tend to be more serious than summer buyers, so there's no need to wait for the spring market to sell your home.

On average, a home spends 83 days on the market, which is very good. Sellers are also getting 98.6% of their asking price.

Now, there are a couple of areas that are particularly strong right now. Homes priced between $150,000 and $175,000 are in high demand. The average days on market for these homes is 66, which is almost a month faster than our county average. The $200,000-$250,000 market is also hot, with 3.5 months of inventory and an average of 72 days on market.

In addition, the 83404 zip code on the south side of Idaho Falls is on fire! That area has 3 months of inventory, and there are only 7 houses for sale built after 1990, and they are priced between $300,0000 and $350,000. I recently had a listing appointment with a seller, and since their home falls within that market, that seller will be able to get more than they would at another time.

As you can see, the market overall is very strong right now, with a few pockets that are on fire. If you have any questions, give us a call or send us an email. We look forward to hearing from you!

What’s Going on in Idaho Falls?

2015-08-11T10:05:00.001-07:00

It’s about time for us to provide you with another real estate market update for Idaho Falls, so we wanted to do that today. We have some statistics and predictions that we think you will be very interested in.

We are watching inventory continue to go down in Idaho Falls, while sales continue to remain strong. Right now, the inventory out there is sitting at 3.9 months. That’s the lowest level we have seen in 7 years! Right now, we are selling about 156 houses a month, home values are going up, and it’s a great time to buy or sell.

For buyers, interest rates are still very low and we are happy about that. It may make finding a good home a tad more difficult, so it’s important to have a licensed buyer’s agent representing you and looking at all your potential options in order for you to get the best deal possible. Plus, we have a lot of unlisted inventory from sellers who want our buyers specifically to get a crack at their home first.

For sellers, this is a fantastic market. The average days on market of 85 is the lowest it has been in years. Our team’s average is just 62 days and we are starting to see list prices and sale prices come together just a little bit.

One question we’ve been getting a lot is when the best time of year to sell a house is. In our opinion, there are about half as many homes for sale in the winter months as there are in the summer months. You might only have one or two showings a week at that time, but when a buyer walks through your home they are serious about looking and you’d be surprised at the kind of price you could fetch.

If you have any questions for us, just give us a call or email. We would love to speak with you!

The Most Important Part of Renovating Your Home

2015-07-29T13:53:00.000-07:00

Renovating your home can be an exciting process, but it's important that you don't get ahead of yourself. You can't just go willy-nilly into a major project and expect it to go perfectly. Planning properly for these types of projects can assure a smooth project, and one that may even cost less!

We recommend making a very detailed timeline of your project, including potential things that could go awry and making backup plans in order to prevent these things from happening. Putting your plan onto paper is a good way to start this process.

Another major step is choosing a good team of contractors that you can communicate with. If they don't know what you want done, they can't do it.

Just remember, there is no such thing as too much planning! If you plan on renovating your home, please contact us. We know great contractors and could also give you advice on what projects will bring you the highest return on your investment.

What Should You Know about Home Warranties?

2015-06-29T08:04:00.001-07:00

Hey everyone, today I am excited to talk to you about home warranties. People are always asking us questions about this topic, so today we want to clear the air.

A home warranty is from a 3rd-party company that will cover different components of your house for the first few years you own it. It's very similar to the coverage on an insurance policy, but the deductible is a little lower and the claim response is a little faster.

We recommend home warranties for all of our buyers and sellers. For sellers, you can buy a home warranty and advertise it as an incentive to buyers. If you use one of our home warranty companies, your coverage starts on the day you list your home with us, and transfers over to the buyer, who will have it for a full year. We think this is a great option for sellers, especially if something goes wrong. In that case, you don't have to deal with the hassle of renegotiating repairs, you can simply give the home warranty company a call, and they will have someone come out and fix it for a low cost.

Generally, a home warranty is around $400, but you can add different components to give you more coverage. If you have any specific questions about this, or any real estate questions at all, give us a call or send us an email. We look forward to speaking with you!

How Does Our Real Estate Market Keep Getting Better?

2015-06-29T07:46:00.001-07:00

Hey everyone, today I wanted to talk to you a little bit about the state of the real estate market here in East Idaho.

Much like last month, we are still in seller's market. It's not dramatically in favor of sellers, but our inventory is continuing to creep down, and now sits at 4.3 months.

As of yesterday morning, we had 603 homes on the market, but sales are increasing enough to make up for the influx of inventory. This is having an effect on home prices, which are starting to rise a little bit. If you've been living here for the last 7-10 years, you have seen many months of declining or stable prices. We have seen them rise greatly in the last 6 months, however.

Of course, interest rates have the potential to slow down those prices, but they are still favorable right now for buyers in the market.

If you have any questions about our market or if you're interested in buying or selling, give us a call or send us an email. We would love to speak with you!

What's the Key to Getting Your Idaho Falls Offer Accepted?

2015-05-27T07:25:00.001-07:00

Hello, and welcome to Part II of our series on multiple offers. We're very excited to share some more information with you on this topic, as we haven't seen this many multiple offer situations in years! Last time, we offered some advice to sellers on how to deal with multiple offers; now, we want to help people on the buying side of things.

A lot of buyers we're working with right now are making offers on multiple properties because the marketplace is so competitive. In order to make an effective offer, the most important thing to keep in mind is the price. How much you offer is often going to play a huge role in whether your offer is ultimately accepted. You don't want to offer more than you can afford, but you have to remember that other buyers will be submitting their best offers.

In short, the days of making anything other than a full-price offer are over. If a seller lists at a fair market value, don't be afraid to offer a little over that if you need closing costs covered. Because buying can be complicated, it's important to work with an agent who knows market value and can help you make smart decisions when crafting an offer.

To make the most of a multiple offer situation, you need to work with a buyer's agent you can trust and who is not afraid to tell you when a home is priced too high. If you've maxed out on price, there are other strategies we can help you with. Think about the risk sellers have to take when accepting an offer; you need to mitigate those risks up front! You need to be pre-approved by a reputable lender if you want to be taken seriously. If you get the letter after you've written the offer, your offer won't even be considered!

There are other strategies you can use to make your offer stand out from the crowd. If you would like more expert advice on how you can make the most of the buying process, give us a call or shoot us a quick email. Something as simple as writing a personal letter to the seller can make all the difference! Don't hesitate to reach out to us for more tips - we would love to hear from you!