Our mission at West Real Estate Group is to be your resource for your Real Estate needs in Idaho. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about Real Estate. Watch the videos and articles below to get the latest news on local market trends and receive expert tips for buying or selling a home. Call us with any questions you may have at 208-501-8200.
If you are considering purchasing a new home in Idaho, you may be wondering how much it may cost to hire a Realtor to help you.
This is a common question and yet many people don't ask what an agent's services cost.
Maybe homebuyers don't inquire about this because they don't know what to ask or are too embarrassed to pop this question when interviewing an agent.
At West Real Estate Group, we love to inform our buyers and help educate our clients about all the ins and outs of buying and selling a home in Idaho. How a Realtor is compensated when working with a home buyer is a question that we find many people have. So how does it all work and how do we get paid for our services?
In most cases, our services are paid for by the seller of the home you purchase making our services free to a homebuyer.
While your agent's fees most likely will not be paid by you, we still recommend you interview agents and choose the best Realtor you can find. One that has the heart of a teacher and knows what they are doing.
We have put together a resource to help you know what questions to ask when you interview a Realtor:
Click here to read: 10 Questions to Ask Your Realtor Before Hiring Them
Hiring a Realtor to help you is a critical part of the home buying process and can make the difference between the process being a very exciting time in your life or one you will never want to repeat.
Your Realtor will handle seven key roles for you:
If you are thinking about buying a home in Idaho, we would love to hear more about your goals and discuss in more detail the process of the purchase of a home so that you will be a more informed home buyer.
Call our team at today 208-501-8200 to talk with one of our team members.
You can also watch our home buyer video series called: 7 Steps To Home to learn more:
Click here to Watch 7 Seven Steps to Home Video Series
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.
Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.
If you own a home in Idaho or are thinking of purchasing a house, this information should be very interesting to you.
Home values will appreciate by 4.0% over the course of 2017, 3.2% in 2018 and 3.0% the next three years (as shown below). That means the average annual appreciation will be 3.24% over the next 5 years.
The prediction for cumulative appreciation ticked up from 18.7% to 21.4% by 2021. The experts making up the most bearish quartile of the survey are projecting a cumulative appreciation of 10.2%.
Individual opinions make headlines. We believe this survey is a fairer depiction of future values here in Idaho.
Curious what your house might be worth in today's market? Get your home's value instantly:
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Have more questions? Call our team today 208-501-8200!
In this day and age of being able to shop for anything anywhere, it is critical to know what you’re looking for when you start your home search.
If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at the many homes listed for sale with rose-colored glasses.
Do you really need that farmhouse sink in the kitchen to be happy with your home choice? Would a two-car garage be a convenience or a necessity? Could the man cave of your dreams be a future renovation project instead of a make or break now?
The first step in your home buying process should be to get pre-approved for your mortgage. This allows you to know your budget before you fall in love with a house that is way outside of it.
The next step is to list all the features of a home that you would like & to qualify them as follows:
We created a printable checklist for you to download and print so that you can take a moment to make this list. It will greatly help you and help your Realtor find the home that fits you best.
Click this link to download the What You Want Vs. What You Need Checklist
Having this list flushed out before starting your search will save you time and frustration, while also letting your agent know what features are most important to you before starting to show you houses in your desired area.
Call our team today to take the next step, or you can start browsing for homes right now by clicking the link below:
Yes, I would like to start looking at homes for sale now
Contact us with your questions: 208-501-8200. We would love to hear from you!
Curious about the value of current home? Get an Instant Value Check by clicking the link below:
Curious about what homes are currently available on the market now? Go see new homes:
At West Real Estate Group, we get asked this question all the time, "Is getting a home loan still difficult?"
There is no doubt that mortgage credit availability is expanding, meaning it is easier to finance a home today than it was last year. However, the mortgage market is still much tighter than it was prior to the housing boom and bust experienced between 2003 - 2006.
The Housing Financing Policy Center at the Urban Institute just released data revealing two reasons for the current exceptionally high credit standards:
1. Additional restrictions lenders put on borrowing because of concerns that they will be forced to repurchase failed loans from the government-sponsored enterprises or Federal Housing Administration (FHA).
2. The concern about potential litigation for imperfect loans.
The Policy Center report went on to say:
In an interview with DSNews, Laurie Goodman and Alanna McCargo of the Policy Center further explained:
Goodman and McCargo put it best:
The housing market boom and bust caused many mortgage providers and lenders to tighten their lending standards in an effort not to repeat the recent past. This paired with many homebuyers disqualifying themselves before they even apply for a loan, due to the fear of rejection, has led to many households not yet becoming homeowners.
If you have been thinking of buying your first home or even buying a home that better fits your needs, give us a call. We would be happy to sit down with you and explain your many options.
Call our team at 208-501-8200 today.
You can also start browsing homes for sale now by clicking the link below:
Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Along with Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors are all calling for mortgage rates to continue to rise over the next four quarters.
This has caused some Idaho home purchasers to lament the fact they may no longer be able to get a rate less than 4%. However, we must realize that current rates are still at historic lows.
Here is a chart showing the average mortgage interest rate over the last several decades.
Though you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago; a lower rate than your parents did twenty years ago and a better rate than your grandparents did forty years ago. Our advice is don’t wait.
Click here to start looking for that new home.
Call us with any questions at 208-501-8200 you may have.
In this video, Realtor John West, answers a common question we have heard a lot lately, "What is going on with the real estate market in the Treasure Valley?"
Houses are selling fast, rents are at all-time highs, and real estate is a hot topic again, but are we headed towards another housing bubble?
At West Real Estate Group, we believe in offering Better Education and More Communication to our clients. Here is a short video to explain our current housing market here in the Treasure Valley:
In Boise, Idaho and surrounding areas, four main factors are affecting our market:
1. High Demand
No one will argue that the Treasure Valley is a great place to live. We are consistently ranked in the top spots for best places to move to, and our secret is out. People are flooding into the Treasure Valley from all over the nation, and this relocation activity is part of why we see such high demand for housing.
2. Low Inventory
After our market crashed in 2007, builders stopped building homes and apartments. This gap in the construction of new construction caused us to be behind in meeting the growing housing needs of our area. Home builders are quickly trying to meet the demand of our current market. However, they are still behind.
3. High Rents
Because of the demand for housing, the significant amount of growth in our area, and the lack of available homes for sale, landlords have been able to charge higher monthly rents. If you can't find the house to buy that fits your needs or have 6-10 months to wait for a new house to be built, you may have to rent and pay a premium to do so.
4. Low Mortgage Rates
As the market continues to see strong improvement, lenders have been offering low mortgage rates to keep home buying affordable and attractive. We often find that many of our buyers are paying less for their mortgage payment on their home than they were paying in rent. This factor is also causing some of the high demand for housing.
With all this demand for housing, some fear that we might be heading for another crash, however, evidence that economists see in this market is much different than the factors that caused the crash nearly ten years ago. Some of the reasons for that crash were high speculation, loose mortgage loan approval standards, and other factors that were not based on healthy and sustainable conditions.
In summary, the current housing market in the Treasure Valley is alive and well. It is still a very good time to take advantage of low housing innovatory and sell your home or buy a new home before prices rise further. Our team would love to help answer any questions you may have.
Give us a call at (208) 501-8200 today!
Buying a home? Click here to perform a full home search
Selling a home? Click here for an INSTANT Home Price Evaluation
Call us at (208) 501-8200 for a FREE home buying or selling consultation
Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? We at West Real Estate Group help people get their home sold every day. Here are two keys we have learned to ensure you get the highest price possible.
This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).
Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. In that way, the seller will not be fighting with a buyer over the price, but instead will have multiple buyers fighting with each other over the house.
Realtor.com, gives this advice:
This too may seem counter intuitive. The seller may think they would net more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.
Research posted by the Economists’ Outlook Blog revealed that:
Price your house at or slightly below the current market value and hire a professional. That will guarantee you maximize the price you get for your house. We can help you learn about the market, discuss a pricing strategy, and help you get it SOLD!
If you are thinking of selling your home, try our automated value check and get your home's estimated value INSTANTLY.
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Summer is here in Idaho! The temperature isn't the only thing heating up right now, so too is the housing market in many areas of the country! Here are four great reasons to consider buying a home today instead of waiting.
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 5.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.3% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects home values to appreciate by more than 3.2% a year for the next 5 years.
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4%. Most experts predict that they will begin to rise over the next 12 months. TheMortgage Bankers Association, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will be up almost a full percentage point by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.
As a paper from the Joint Center for Housing Studies at Harvard University explains:
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.
If you have a home that you need to sell, you may be surprised how much it's worth. Use our INSTANT value check tool and learn what your home may sell for in today's market:
Yes, I want to get my INSTANT value check!
Still have questions, we would love to hear from you. Call us at 208-501-8200.