Getting Up-to-Speed About Laguna Pointe in Eagle

To recap, many people who own Eagle, Idaho real estate in the neighborhood fear that the greenbelt will cut through their properties. When Laguna Pointe Subdivision was in its planning stages, the subdivision builders/ designers and the City of Eagle agreed that if the neighborhood came into being, the city had a right to put an easement to the Boise River Greenbelt in the neighborhood.

The problem? Apparently, the request for the easement was not filed properly with Ada County. Add to that, the Laguna Pointe Homeowners Association told KBOI that the easement was slated to run along the river, but the river itself has changed. So the city created an alternative path, but there’s problems with that, too. People using the path are actually traipsing into people’s backyards.

The matter is supposed to go before a judge on June 16th. Stay tuned.

Watch the video below to get a full recap of the issue thus far.

Eagle Middle School = One Crowded Piece of Real Estate

According to KBOI2.com, coaches and parents have asked repeatedly for more play space. Sometimes up to 10 sports teams practice at Eagle Middle School on any given day, causing overcrowding. Or teams must go elsewhere to find play space, including church yards or even in other cities.

Parks and Rec Director Mike Aho has put together a plan for the Eagle City Council that calls for a task force to help develop the new complex. It would be a volunteer group consisting of a land developer, leaders of sports teams and other city members familiar with the parks.

Where Will You Find the Sports Complex on the Eagle City Map?

At the moment, the cost of the project is up in the air as is the location and how many fields the complex will add to the city. However, this development offers great news for the people looking at the homes for sale in Eagle, Idaho. Just like the city’s medical services, popular restaurants and city markets, the addition of a sports complex would make playing and working in Eagle all the more attractive for those who live here.

What’s at Stake for the Laguna Pointe Property Owners? And for the City of Eagle?

The issue is with three Laguna Pointe owners, who have property right on the Boise River and which the city would like use of to create a public access way to the Eagle section of the Boise greenbelt. The section of Eagle, Idaho real estate in question is an acre and a half stretch of Laguna Pointe property. It exists on the south side of the neighborhood and would be an East-West route for hikers, cyclists and other greenbelt users, according to the Idaho Statesman.

Because the city and the owners of the three Eagle, Idaho properties can’t come to an agreement as to the use of the land, the city will start eminent domain proceedings against the property owners, which the Statesman cites as Jade Development, LLC, Laguna Pointe Homeowners Association and Premier Industrial LLC. The lawsuit will go to 4th District Court.

The City of Eagle is hoping to access 64K square feet of land, although city officials have stated that gaining access to the land in this manner was not the way they were hoping to go. There is a trail currently, but it’s on private property, causing the friction between the Laguna Pointe property owners and the city.

Why the Challenges for This Section of the Boise Greenbelt

For those not 100% certain about what eminent domain is, Wikipedia defines it as an entity’s power to take “private property for public use by a state or national government.”

The issue for the homeowners, aside from the path cutting through land that is private property, is that they don’t want the path to be paved and they would also like the trajectory of the path to move away from the homes along the Boise River and closer to the river itself.

Additionally, in a story last year on Fox News about the issue, Laguna Pointe property owners expressed that there were issues of privacy not only for their homes, but the 43-acre private lake that sits at the heart of Laguna Pointe Subdivision.

See more of the Fox News story about Laguna Pointe in Eagle, Idaho and about the greenbelt issue by watching the news video below:

Information not guaranteed.

Activities in Eagle, Idaho: Pickled Feet Runs

This activity is a fixed-time race, meaning that race enthusiasts will run as many miles across this expanse of Eagle, Idaho real estate as they can within the space of 48, 24, 12 or 6 hours. They also have the option of doing a 100-mile distance run with a fixed distance.

Actual race days span from the 27th to the 29th of March. Run times for the 48 and 24 hour races range from 6 am to 6 pm. For the 12 and 6-hour options, racers can choose day or night jaunts. People who opt for the 100-mile fixed race have a 32-hour race time.

If you’re interested, but have visions of running over all the hills and dales of this pristine spot of Eagle, Idaho real estate, never fear. The terrain is said to be mild.

According to BoiseEvents.Net, you can get 20% discount if you use the code CATHY at checkout.
Additionally, Eagle Island State Park offers your family plenty to do if they’re not runners. They’ll enjoy throwing some horseshoes, starting the barbecue or playing frisbee in the grass. Or they can act as volunteers for the Pickled Feet Runs.

Your entry comes with a free parking pass. Go to the Ultra Sign Up website  to sign up or for more information. You have to log in at Ultra Sign Up to register. If you don’t have an account, you can create one for free.

Learn more about this park in Eagle, Idaho by watching the video below.

The Eagle, Idaho foreclosure rate fell to 0% February of 2014, a miraculous low among Ada County cities- unheard of for the last several years. As you can see in the graph above, the foreclosure rate was 12.1% in January and 0% in February; 18.5% lower than last February and 28% lower than 2012. In the last two and a half years the foreclosure rate started at 46% in January 2012 and dropped all the way down to 0%, a remarkable decline.

Not only was the foreclosure rate non-existent in February 2014, but the median home sales price is also staying in a competitive range. As you can see in the graph below, 2014 started with the highest median sales price in years at $358,500. Home value in Eagle is steadily rising- you can see that last January the median was $278,450. In one year it increased by 29%. Granted, median home sales prices vary month to month but you can see that each year the median line has risen from the previous years.

Real estate sales were slightly lower in February ’14, 23 homes sold- a slight decrease of only 1.7%. However; in January sales were higher than they have been in the past three years. This is a strong start for  Eagle 2014 real estate. Historically, sales are lower the start the year and climb to a peak through the warmer/summer months (reflected in the graph below).

Among the homes sold in Idaho this year, there has been a miraculous balance between new and existing the last couple of months in Eagle; much more balanced than in other cities throughout the County. Only 24% of home sales were new construction in Meridian February ’14, and only 31% of home sales were new construction in Boise. As you can see in the graph below, both January and February had an equal 50:50 ratio between new and existing home sales.

Info About the Home Buyers Incentives From Freddie Mac

Here’s how the Freddie Mac program works. These incentives are to encourage people to buy condos in one of 27 states in the Freddie Mac program. You can get $500 from Freddie Mac to be used toward a home warranty, condo association dues or flood insurance premiums for offers submitted from February 18, 2014 and April 15, 2014.

The homes for sale in Eagle, Idaho that would not be eligible for this home buyer incentive would be houses bought with the intention of making them investment properties. Auction homes and bulk sales also don’t qualify for the program.

Idaho is one of 27 states that are eligible for these Freddie Mac home buyer incentives. Other states include Michigan, Utah, New Jersey and Washington.

Contact us for a list of Eagle, ID homes  for sale that qualify for the Freddie Mac program.

Other Home Buyer Incentives ~ Other Ways to Own Eagle, Idaho Real Estate

In related news about home buyer incentives, Fannie Mae is offering to help with closing costs for REO homes. The program is part of its FirstLook program.

If you opt for a program like this, whether you buy one of the homes for sale in Eagle, Idaho or choose a home in neighboring cities like Meridian or Boise, you can receive up to 3 1/2% of the final sales price taken care of in your closing costs.

However, you have to jump to take advantage of this home buyer program. You have to make an offer by March 31 and close on your new home before May 31, 2014.

These programs could be your first steps to buying a house in Eagle, Idaho or a home for sale in the surrounding area.

Although there have been similar high’s and lows in real estate sales in Eagle through the past three years, there has been a consistent increase in sales within those expected ups and downs. As you can see in the graph above, there were 39 traditional home sales in December of ’13, a 44% increase since ’12. As you can see, December of 2012 also showed a 50% increase from the year prior; equaling an 84% increase in sales in just two years.

The most dramatic increase in traditional home sale numbers we saw in 2013 were seen in July-  68 homes sold, a 119% increase from July of 2012. Summer was hot for real estate- which was bound to drop slightly. However the rest of the year still had consistent increases in numbers each month compared to 2012.

New home sales also increased throughout 2013; the year started with 3 new home sales in January, but ended in December with 14. On average, 32% of home sales were new and 68% were existing in 2013. As you can see however, the proportion was even in December when 50% of the home sales were new. This proportion seems even bigger when considering only 10% of home sales were new in January.

The highest peak we saw for new home sales for 2013 was in July, 28 new homes were sold (39% of home sales that month). Historically the warmer months tend to increase real estate sales, and the colder months (along with different factors such as the school year and holiday season) seem to encourage some potential buyers to wait.

The graph below gives us a clear picture of the proportion of short sales and bank owned homes vs. non foreclosures sold each month. Eagle has the lowest foreclosure rate in Ada county, this low proportion is reflected in the graph below. For example, in December of 2013, there was 1 short sale, 2 bank owned, and 39 non foreclosure sold. That means 93% of sales were traditional, 2% short sales, and 5% were bank owned.

You can see that throughout the entire year those numbers really only varied slightly. The highest foreclosure rate was in March when 7 bank owned homes sold, and 3 short sale homes sold. This means 23% of home sales were foreclosures; the highest we saw all year. The average foreclosure rate in Eagle, 2013 was 10.2% of sales, a 9.5% drop from 2012. The average foreclosure rate in 2012 was 19.7%.

Along with an increase in real estate sales in 2013, the median home sales price has also increased. In October of 2013 the median home sales price was $322,500. In Comparison to October of 2012, the median home sales price was $278,500, which is an increase of 11.5%. In January of 2013 the median home sales price was $278,450 and increased steadily through the year by about 16%. The average median home sales price in 2013 is 12% higher than the average median home sales price from 2012.

As you can see in the graph below, the Eagle Foreclosure rate has dropped tremendously in the last 3 years. In January of 2011 there was a 70.6% foreclosure rate compared to 5.2% in October of 2013. In the last three years the foreclosure rate has dropped 65.8%. This year alone the foreclosure rate has dropped from 16.7% in January to 5.2% in October. Between 2011 and 2013 we went from an unhealthy market with a very high foreclosure rate, to a healthy and stabilized market with a very low foreclosure rate.

Eagle Idaho real estate has been particularly popular in the Banbury Meadows subdivision.  Banbury has posted the most sales for a given subdivision with 28.  The median price for a home in this subdivision is $368,800.  That is higher than the overall median posted this past month for real estate in Eagle Idaho, which was $293,379.  The chart below shows the type of sales in the Banbury Meadows subdivision so far this year.  And while non-foreclosure sales are dominant, the foreclosure market share at Banbury Meadows has been 25% in 2012.

The overall foreclosure market share in the Eagle Idaho real estate market is actually lower than what’s been posted for Banbury Meadows.  This past November the numbers were similar to October, at 9.7%.  Still, the average foreclosure rate for this year is right around 19%.  But, as you can see in the chart below, Eagle foreclosures have consistently been lower than 19% since April.

While the number of home sales in Eagle has gone up, the number of foreclosures has gone down from a year ago.  For example, the foreclosure market share in Sep. 2012 accounted for 16.7% of the Eagle ID real estate sales.  In September 2011, approximately 44% of the sales were foreclosures.  When referring to foreclosures we are talking about bank-owned homes, short sales, and HUD homes.

The same pattern holds true for every month this year compared to last year.  Foreclosures hit their lowest point this year in Eagle during the month of July at 8.8%.  But, they have remained at a steady rate since April 2012.  You can see the entire year-over-year comparison in the graph below.