West Real Estate Group Video Blog

Expert Tips for Navigating the Idaho Real Estate Market

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

Sept. 21, 2022

Is the Boise Market Going To Crash?

The market has shifted, and that’s a good thing.

It seems like on a daily basis, We get asked, "Is the housing market going to crash in Boise, Idaho?"

And since the real estate market has shifted in the Boise area, it is important to understand what the market is doing, especially if you are interested in buying or selling a home.

Demand and sales are headed back to pre-pandemic levels, which were some of the strongest in recent history. But, the shift has caused a great deal of confusion and uncertainty and it's important to see what the data is telling us.

HOUSING PRICE INCREASES

So, what’s the current national data telling us? Well, let’s do a real estate reality check. First, let’s talk about house prices.

House prices increased by 29% in 2020 and 18% in 2019. These are unprecedented numbers! But what caused the spike? Artificially low-interest rates, political reasons (people voting with their feet), and the ability for many people to work from home in large numbers.

Prices are still projected to be up 8% overall this year. And in 2023, prices are projected to be up 3-4%, which gets us back to the average increase for residential single-family homes the last 50 years.

SUPPLY AND DEMAND

One thing and one thing ONLY drives house prices: Supply and Demand. Any time there’s more supply of something than there is demand, the price goes down. Any time there’s more demand for something—a lot of buyers chasing a small supply of goods—the price goes up.

For example, if there’s a toilet paper shortage (remember that one?), prices will spike. If there’s a shortage of oil and gas because Washington has turned off the spicket, prices will spike (we’re still living this one!). Real estate is no different. When demand exceeds supply, house prices go up. For housing prices to go down, supply has to exceed demand.

Since we’ve had a shortage of homes for about the last two decades, plus the demand is high, the prices are therefore high. Because of this low supply and high demand, people have been willing to pay ridiculous amounts of money for homes—in many cases, way more than the appraisal price. This has caused people who weren’t even looking to sell their homes to be drawn into the market and become sellers.

Still, people are freaking out and saying, “it’s just like 2008. The market’s going to crash.”

Well, let’s take a closer look at the data.

Housing Shortage

In 2008, demand fell dramatically below supply. But currently, our supply of houses for sale is about 1/4 of what it was in 2007, and new housing starts (supply) is 1.38 million—35% lower than the 2.07 million in 2005. As you can see from the inventory and housing starts graphs below, any way you cut it, low used supply and low new supply equals low supply.

LUMBER SHORTAGE

On top of that, new housing got totally disrupted during the pandemic with all the supply chain issues. Factories shut down, causing a lumber shortage. Lumber tripled, came down, back up, and now has normalized at around $600 per 100 board feet. But overall, this has negatively affected building starts, leaving us with a shortage of new houses.

FROZEN FORECLOSURES

The government’s moratorium (a fancy word for freeze) on foreclosures during the pandemic is also driving the shortage. Banks stopped executing home foreclosures—essentially letting people live for free the last two years—and now there’s a pileup of homes to be foreclosed on. As the graph shows, we’re starting to see these foreclosures come back into the market. But it’s still not going to provide enough inventory to make up for the housing shortage, and here’s why . . .

HIGH DEMAND

Millennials have come of age—prime earning and home-buying age, that is. There are now 5 million more Millennials in their mid-30s than compared to 2006 when Generation X was in their mid-30s. Plus, in 2007 there were 116 million households in the U.S. compared to 128 million households in 2020. That’s 12 million more households wanting to own a home today. This makes for too many buyers chasing too few houses.

INVESTOR BUYERS

In 2007-2008 we had almost zero institutional investors in the market buying up houses. Today we've got these big investing conglomerates buying single-family homes like crazy. According to a report by the Harvard Joint Center for Housing, they bought 28% of the houses that were for sale in America in the first quarter of 2022. That’s up 19% year over year.

Of course, they’re not buying up homes in the problem cities. They’re buying in more appealing sunbelt cities like Atlanta, Jacksonville and Charlotte and avoiding places like Chicago, Minneapolis, and Portland where there’s lawlessness, high taxes, and Covid-limiting freedoms.

THE GREAT MIGRATION

And investors haven’t been the only ones seeking out better cities. The past two years, there’s also been a mass exodus of people across America moving out of undesirable political environments, tax environments and high-crime environments. We haven’t seen anything like this since the Dust Bowl. Big home sales in California and New York that turn into cash offers for twice the house in Texas or Tennessee have greatly affected the supply-demand curve in local markets.

INTEREST RATES

On top of all this chaos, it’s been a bit of a shock to our system to see interest rates rise. It feels like they’re at an all-time high, but in fact they’re just starting to normalize. We have to keep perspective and remember that in 2020 and 2021, interest rates were at an all-time low. We reached our all-time high in the ‘80s when rates averaged around 17%.

In 1981, mortgage interest rates went to 18% and there was no “Housing Crash,” no huge drop in prices. There weren't as many houses and some sellers used price to attract one of the few buyers, but the market as a whole just sat and waited. In 1984, houses were sold with fixed rates of 14%, and there was a line around the block to look at model homes. That line was made of people who waited on rates to come “down” from 18% to 14%, and even then, there was no “Housing Crash.” Supply and Demand set prices—nothing else. Not interest rates, not fear, and not politics.

When you add up all this low-supply, high-demand data from all these factors, it’s easy to see how people are feeling boxed out of the market. Especially when you added in the fact that inflation just hit 9.1% in June, the largest 12-month increase in 41 years. Budgets—and emotions—are maxed.

Yes, there are lots of things you can’t control, such as:

  • Interest rates
  • Economy
  • Lumber Prices
  • The Fed
  • Inflation
  • Recession
  • Investors
  • Gas Prices

But there’s one important thing you can control . . . YOU!

Oddly enough, we can actually say with accuracy that this is a great time to buy a house AND it is also a great time to sell a house—if YOU are ready.

If you’re looking to buy, make sure you’re financially able to do so your home is a blessing, not a curse. That means you should have a fully funded emergency fund saved (ideally 3-6 months of expenses saved). Also, you’ll also want to have a strong 20% down payment so you can avoid private mortgage insurance (PMI). If you're unable to do that, it’s okay to put down 3.5-10%. Just know that you’ll have to get PMI. And your payment should be no more than 25% of your take-home pay. This keeps you from buying too much house and allows you to enjoy your life without feeling so strapped.

If you’re looking to sell your home, get a professional real estate agent to help you. Don’t have a friend of a friend from Facebook or Uncle Larry who just got his license be responsible for your largest asset. In the economy we’re in, it’s not amateur hour. You really need a pro who’s done a lot of transactions in your area.

Bottom line: Life is not a snapshot, it’s a film strip. Don’t let the scariness of one moment cause you to do something desperate or greedy. Base your decisions on facts, not fear. If you’re in a position to buy or sell, don’t wait on the “Housing Market Crash” because it’s not coming.

IS 2022 A GOOD YEAR TO BUY A HOME?

The year 2022 could be a great year to buy a house—if you’re ready. It could also be a horrible time to buy if you’re not. Remember, don’t let what’s happening with the housing market make your decisions for you.

The things that really matter when buying a house are your personal finances and the season of life. No matter what’s happening in the market, you’re only ready to buy a house when you are ready.

WHAT DOES ALL THIS MEAN FOR HOME BUYERS IN 2022?

It looks like you’ll still need to bring your A-game if you want to buy the home of your dreams in this market. With more buyers than sellers, you’ll probably be up against some competition and high housing market prices.

Another downside: Signs are showing that the low inventory issue is going to hang around for a while.

And while homebuilders are confident they’ll do plenty of business in 2022, that doesn’t mean buying a newly built house will be easy for you. Rising lumber prices, supply shortages, and even government tariffs are all making it crazy hard for homebuilders to actually build enough houses to keep up with demand.

Translation: The pickings may be better than they were a few months ago, but the inventory (amount of available homes) is still slim when it comes to buying a house. That means you may have to give up some of your wants to get a house that has everything you need.

WHAT DOES ALL THIS MEAN FOR HOME SELLERS IN 2022?

Sellers out there can feel pretty good about selling their homes in 2022. If that’s you, you might want to put your house on the market sooner rather than later—while inventory is still low. (But again, only do that if you’re truly ready to sell your house. Don’t let the market be the deciding factor!)

When you decide to sell, keep in mind that there aren’t quite as many buyers in 2022 as there were in 2021, but there are still lots of people wanting a home.

So if you work with an experienced agent, you’ll be able to capitalize on home prices, navigate multiple offers, and find the right buyer. With an expert by your side, it’ll be even easier to sell your house at a great price this year.

If you are thinking of buying and or selling a home this year, let's talk. Our team of experienced agents will ask you the right questions and give you straightforward advice. We have no problem telling you to wait if that is the wisest thing to do.

WE WANT TO HEAR FROM YOU

If you have real estate questions or goals, we want to hear from you. You can respond by calling us today at (208) 501-8200 or simply book a FREE complimentary appointment via phone, zoom, or in person. To book your 15-minute conversation, click here.

We look forward to hearing from you!

Your Team at West Real Estate Group
From top left: CJ WestwoodDerek CasselDawn Lee-SchleiderLuke BrodtNicole BrusheyDaniel WestAlex Zayshlyy From bottom left: Marena CrouchVictoria WestJohn WestNelja Westwood

 

Aug. 18, 2022

AUGUST 2022 REAL ESTATE NEWS

MONTHLY NEWSLETTER | August 2022

Our Party at Zoo Boise Was a Success!

Thank you to all of those that came out to brave the hot weather and make the evening so special, we had over 400 people attend! 
It was mentioned that we have the kindest group of people the catering folks have ever served... What a compliment that was! We are so grateful to have the opportunity to serve your real estate needs and to get to know your families on a deeper level year after year! We pride ourselves on being a tight knit family style brokerage and hosting these types of events allows us to focus on fostering families. For all of those that weren't able to make it this year, be on the lookout for the invite next year.

A huge congratulations to Bonnie Brown, for winning the photo contest!


 


Photos of the Event!





 
 
1. BRR Market Report: July 2022
The month-over-month price declines indicate that the local housing market continues to be driven by supply verus demand, not speculation like we experienced over a decade ago.

READ MORE  >

 
2. Experts Increase 2022 Home Price Projections  
If you’re wondering if home prices are going to come down due to the cooldown in the housing market or a potential recession, here’s what you need to know.
READ MORE  >
 

3. Planning To Retire? Your Equity Can Help You Reach Your Goal. 
If your home doesn’t have the features or benefits you’re looking for, the good news is, you may be in a better position to move than you realize.
READ MORE >

 

4. Why Experts Say the Housing Market Won't Crash   There isn’t an oversupply of homes for sale today, lending standards are much tighter, and homeowners have record levels of equity

READ MORE >

 
 
 
 
Acreage Homes
55+ Homes & Communities
New Homes & Developments
Homes with a shop
Luxury Homes
Horse property
SEARCH BY PRICE
SEARCH BY AREA
 
We need your help
Our team has a big goal of helping 200 families with their real estate goals this year. Who do you know that we might be able to help? Fill out the form below.
CLICK HERE TO PASS ALONG A REFERRAL
 
 
 
Testimonials
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Worked so hard

"We were so fortunate to come across Nelja and her team at WRG. Nelja has everything going for her and her clients. She worked so hard finding the perfect home for us and in the process we found a new friend. I honestly cannot say enough about Nelja and WRG."

-Bradley Paz

Nationally Endorsed by Dave Ramsey
5.0 Google Business Review
 
Your Team at West Real Estate Group
From top left: CJ WestwoodDerek CasselDawn Lee-SchleiderLuke BrodtNicole BrusheyDaniel WestAlex Zayshlyy From bottom left: Marena CrouchVictoria WestJohn WestNelja Westwood 
July 6, 2022

7th Annual Client and Friends Appreciation Party at Zoo Boise (August 2022)

Join Us for an Evening at Zoo Boise as Our Guest!

Event Details:
When: Friday, August 12th, 5:30pm to 9:00pm
Where: Zoo Boise, located at 355 Julia Davis Dr. Boise, ID 83702

Carousel • Zoo Farm Feeding • Butterflies in Bloom
Temporary Tattoos 
• Food and Drinks Provided • Photo Contest

Event Description:

You are invited to join us as our guest, at our 7th Annual Client and Friends Appreciation Party at Zoo Boise! We are so excited to host this event this year to connect with our clients and friends and say thank you for allowing us to serve your Real Estate needs. 

Please join us for an evening of fun. We look forward to seeing you there!

Kindly RSVP by August 8th as we have limited tickets! Click here to register or fill out the event form below:

We believe that buying and selling real estate should be less complicated and more enjoyable. We are a group of people who are obsessed with educating, empowering, and helping people obtain the American dream of homeownership.

Your Team at West Real Estate Group
From top left: Luke BrodtDerek CasselCJ WestwoodDaniel WestAlex Zayshlyy
From bottom left: Nicole BrusheyDawn Lee-SchliederVictoria WestJohn WestNelja WestwoodMarena Crouch

Photos of the Previous Event!

 

June 15, 2022

JUNE 2022 REAL ESTATE NEWS

MONTHLY NEWSLETTER | JUNE 2022

Using Humor to Cope with Uncertainty
 

Like the hilarious scene from the 1998 movie, A Bug's Life, when the leaf floats down and interrupts the ant's line, the current housing market "shift" has caused people to pause and look for direction. Similar to the lead ant's comment about the 'Twig of 93' we too can't help but be nervous about the housing crash of 2008.

Having someone trustworthy to look to for guidance is more important than ever!

At West Real Estate Group we study the market and have the experience to help you make your move with confidence. If you have questions about the market and how it will impact your housing goals, please do not hesitate to reach out. We love helping our clients navigate the housing market despite what is happening.


To schedule a quick call click here. 
 

At Your Service,
John West
West Real Estate Group 
Associate Broker

 
 
1. BRR Market Report: May 2022
Prospective buyers have more options because of the increases in housing inventory and sellers have continued to receive great values for their homes.

READ MORE  >

 
2. Is the Housing Market Correcting?  
The housing market is moderating compared to the last two years, but what everyone needs to remember is that the past two years were record-breaking in nearly every way.
READ MORE  >
 

3. Why You Need an Expert To Determine the Right Price for Your Home
If your lifestyle has changed recently and you’re ready to make a move, taking advantage of today’s sellers’ market might be just the answer for your summer plans
READ MORE >

 

4. History Proves Recession Doesn't Equal a Housing Crisis   
In 4 of the last 6 recessions, home prices actually appreciated. 

READ MORE >

 
 
 
 
Acreage Homes
55+ Homes & Communities
New Homes & Developments
Homes with a shop
Luxury Homes
Horse property
SEARCH BY PRICE
SEARCH BY AREA
 
We need your help
Our team has a big goal of helping 200 families with their real estate goals this year. Who do you know that we might be able to help? Fill out the form below.
CLICK HERE TO PASS ALONG A REFERRAL
 
 
Please join us in welcoming Dawn Lee-Schlieder to the West Real Estate Group family! Dawn has a 8+ years of Real Estate experience and prides herself on delivering excellent customer service to her clients. We are confident that she will be a huge asset to our team and that you will love her! 
 
 
Testimonials
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"Wealth of knowledge"

Working with John West and his team was a pleasure. John kept us informed of what was going on and gave us down to Earth answers to our questions, even when it was not good. He has a wealth of knowledge that he brings to the table. We bought and sold our houses with West Real Estate Group.

-Gordon Makimoto

 
The West Real Estate Group Team
 
Nationally Endorsed by Dave Ramsey
5.0 Google Business Review
May 20, 2022

MAY 2022 REAL ESTATE NEWS

MONTHLY NEWSLETTER | MAY 2022

Don't let fear drive your decisions

There is so much going on in our world right now…increased inflation & gas prices, rising interest rates, war in Ukraine, a never ending pandemic, etc, etc and etc...

And all these factors are causing fear.  

But we know that fear is a terrible way to make wise decisions. 

Since we all have to live somewhere, we get to choose if we own our home or if we rent.

At West Real Estate Group, we believe that buying a home (or investing in homes) is a wise long-term wealth building strategy. And while we still are in a market that favors sellers, we are seeing increased inventory and less competitive offers which is providing opportunity for buyers willing to embrace it.

*If you need to sell your home in order to buy, now might be the perfect time for you to take advantage of getting the most you can from the sale of your home while also having success in getting your offer accepted on another home. 

  • We are seeing more offers that are contingent (or dependent) on the sale of another house being accepted in the marketplace.

So don’t let fear get in your way.

Housing is most likely the biggest expense you have, so take 5-10 minutes to discuss your goals with us to see if we can work together to make them happen. 

To schedule a quick call click here
 

At Your Service,
John West
West Real Estate Group 
Associate Broker

 
 
1. BRR Market Report: April 2022

Looking at existing/resale sales data in April - 53.2% of buyers paid over list price, indicating that competition remained strong...
READ MORE  >

 
2. Your House Could Be Closer to List-Ready Than You Think  
One of the biggest concerns for a homeowner looking to sell is the time they’ll have to put in before listing their house.
READ MORE  >
 

3. If You're a Homeowner, You Have Incredible Leverage When You Sell Today
In today’s housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation.
READ MORE >

 

4. How Today's Mortgage Rates Impact Your Home Purchase  If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power.

READ MORE >

 
 
 
 
Acreage Homes
55+ Homes & Communities
New Homes & Developments
Homes with a shop
Luxury Homes
Horse property
SEARCH BY PRICE
SEARCH BY AREA
 
We need your help
Our team has a big goal of helping 200 families with their real estate goals this year. Who do you know that we might be able to help? Fill out the form below.
CLICK HERE TO PASS ALONG A REFERRAL
 
Victoria West
Director of Operations & Client Services

I love looking at homes and below are a few of my favorites active properties from this past week. 

These are properties that I believe have great value either as a primary residence, a vacation home, a recreational property or an investment property. 

I hope you enjoy looking through these great deals! 

If you see something you can’t live without. Don't hesitate to reach out.  :)

EASY MOUNTAIN LIVING
A HANDYMAN'S HEAVEN
THE HUNTER'S GETAWAY
GORGEOUS INTERIOR
 
Testimonials
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"Teaching me about the process"

They made my first time home buying experience easy. They helped by teaching me about the process and answering all of my questions in ways that were easy to understand and more importantly honest.

-Zack Nalder

 
The West Real Estate Group Team
 
Nationally Endorsed by Dave Ramsey
5.0 Google Business Review
May 5, 2022

Client Story: From Lobsterman to Mountain-Man

 
"From Lobsterman to Mountain-Man"

Meet the Bergquists - Ben and Terry were both raised in Cape Cod, Massachusetts and had the luxury of having the Atlantic ocean in their backyard and although they loved it, they shared the dream of someday living in the mountains. 

Ben was a second generation commercial lobsterman for 30 years and after selling the business and raising their girls they decided that 2022 was the year to make the move. 

Their problem - Their biggest concern was finding a home in an area that allowed them to live somewhere beautiful, as well as have access to work and modern conveniences all while staying within their budget. After taking an extended vacation around Idaho they loved the Driggs, Victor and McCall areas but were amazed by the variety of activities, accessibility of recreation, natural beauty and temperate climate of Boise. 

Meeting Realtor John West - They initially came into contact with West Real Estate Group when they called the office inquiring about a house for sale in the North End. John West happened to answer the phone and they were immediately impressed with the educational approach he took to explain the current housing market. He presented logical explanations for the exploding housing costs in Boise and provided realistic expectations as they considered putting in an offer on the home (which they didn’t end up doing). His professionalism paired with his listening skills and deep familiarity of the current housing market made it an easy decision to move forward with him as their agent.

Getting the job done - Ben and Terry immediately knew that the entire team at West Real Estate Group was committed to finding them the right home despite their evolving needs. 

They appreciated the company’s updated technology and the daily listings alerts they received via email. They continually felt that their best interests were being considered and when the right house popped up on the market they were confident to move forward with a strong offer in their desired neighborhood.

Once their offer was accepted, the team at West Real Estate Group went to work on the contract to close process. Every email and call reduced their stress about their decision to buy and make the move across the country. 

The Bergquists now own a home that allows them to start living out their dream. They truly have the best of both worlds, owning a low maintenance home in Boise, with future plans to build a house in McCall and one day truly live in the mountains. 

Advice from the Bergquist's - “Anyone buying a home in this current market should find an office that provides as much guidance, education and professionalism as West Real Estate Group. It is a relationship of trust, and knowing that your Realtor genuinely understands your needs, as well as market trends is critical. Use your instincts to find an office like West Real Estate Group that makes you feel like you are in the best possible hands from start to finish. Finding an agent that you genuinely like, trust, and respect is also important.”

 
Fun Story
Ben and Terry sent John and his family four gigantic lobsters in the mail. Not knowing much about lobsters they quickly discovered that they were ALIVE and needed cooked ASAP. The family, especially the 2 and 5 year old girls had so much fun playing with the lobsters on the floor prior to them enjoying a delicious meal.
It was a memory that they will never forget!
 
Relocating to the Boise and Treasure Valley Area?

Make your move with confidence.
CLICK HERE for our 2022 Relocation Package!

 

P.S. You can also see what homes are available on the market right now by visiting our website: WestRealEstateGroup.com
April 21, 2022

APRIL 2022 REAL ESTATE NEWS

MONTHLY NEWSLETTER | APRIL 2022
West Real Estate Group Logo

Is Boise, Idaho no longer affordable?

Locals have been feeling this for years and now with interest rates on the rise, this is pushing the costs of homeownership up even higher. 

At times like these, when somebody finds out I am a Realtor, they often say, “you must LOVE this market” but I too am a local... I love helping people obtain the American dream of homeownership and it’s heartbreaking to witness locals being pushed out of this market. 

With so many factors facing our current market, you no doubt have questions.

  • If you own a home, should you sell now and cash in before the market changes?
  • If you are looking to buy a home, does it make sense to wait or move forward now?
  • What do we expect the next few years to bring?

Everyone has to live somewhere and since everyone’s situation is different, the advice we offer depends on many factors. Our team loves to ask good questions about your short and long-term goals so that we can offer the best advice to you. 

Don’t stick your head in the sand and end up having regrets. Let’s talk!

Please call us (208) 501-8200 or email us info@westrealestategroup.com and we will promptly respond.

At Your Service,

 
Real Estate News
 
 
1. BRR Market Report: March 2022

The median sales price for homes in Ada County reached $575,000 in March 2022, an increase of 22.6% compared to the same month last year, and a new record for the county. This jump was driven primarily by the new construction segment...

READ MORE  >
 
2. How To Approach Rising Mortgage Rates as a Buyer  
In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important.
READ MORE  >
 

3. Why a Real Estate Professional is Key When Selling Your House 
With today’s real estate market moving as fast as it is, working with a real estate professional is more essential than ever. 
READ MORE >

 

4. On the Fence on Whether or Not To Move This Spring? If you’re thinking of selling your house, it may be because you’ve heard prices are rising, listings are going fast, and sellers are getting multiple offers on their homes. 

READ MORE >

 
 
 
Acreage Homes
55+ Homes & Communities
New Homes & Developments
Homes with a shop
Luxury Homes
Horse property
SEARCH BY PRICE
SEARCH BY AREA
 
We need your help
Our team has a big goal of helping 200 families with their real estate goals this year. Who do you know that we might be able to help? Fill out the form below.
CLICK HERE TO PASS ALONG A REFERRAL
 
Testimonials
Red quote

"Always attentive and listened"

Our agent, Alex Zayshlyy with West Real Estate was amazing! He was very patient with us over the several months it took us to locate the home we wanted to purchase. He was always attentive and listened to our wants and needs. Alex always worked his magic in gaining access into the homes we wanted to view. Since we live out of state, he even took videos of homes for us to see when we were unable to visit the houses in person. Alex went above and beyond to make sure all questions were answered …making this a very smooth real estate transaction. Thank you Alex…you are the BEST!

-Kathryn Baldassari

The West Real Estate Group Team
 
Nationally Endorsed by Dave Ramsey
5.0 Google Business Review
This past week we traveled to Mexico to celebrate John’s 40th birthday. We visited Isla Mujeres, went scuba diving in a cenote, flew like a bird and bathed in a mud pit. We had a BLAST!

For the past three years we have been taking a week long trip just the two of us and it has been instrumental to our marriage and the vision we have for the company. We get the chance to dream about our future, get in some much needed R&R, laugh, and most importantly have fun together! We get to meet people with different backgrounds and perspectives as well as recognize the ruts we are stuck in. 

During this past trip it was amazing to see just how many people are glued to their phones nonstop. We vowed to be more self-aware of our distractions and to read more books. Next time you see us, ask us what we are reading and what our takeaways are. 

I hope that you too take time to get away with your spouse or someone you love. Read a book, meet somebody new, and have some fun! Life is too short and we are never guaranteed tomorrow.

Sincerely,
Victoria West
Thank you for reading our newsletter! 
April 6, 2022

Client Story: A First-Class Experience

 
"A First-Class Experience"
 
Meet the Wohlers - Andy and Nicole Wohler were needing a change of scenery and after doing extensive research on the best cities in America, their research pointed them to Idaho. After a visit to the Treasure Valley, they knew Meridian would be the best fit for them based on their values, political ideologies, the cleanliness, and safety. 

Their problem - Their biggest challenge was leaving what they knew behind and taking a giant leap of faith into the unknown! They had a home to sell and needed to find their new home in one of the most competitive and fast-paced markets in the country. 

Meeting Realtor John West - They first met John West through Dave Ramsey's ELP (Endorsed Local Provider) network and after speaking with a few different ELPs, they decided that he was the right fit for them. John asked great questions and listened to their feedback. They discussed the goals, timeline, and concerns that the Wohlers had with their move and could tell that John truly cared and was not just trying to sell them a house.

A plan that worked - Originally planning on buying a newly-constructed home, the Wohlers discovered that the building process would take much longer than they planned, so they changed their focus and had John seek out an existing home that would meet their wants and needs better. They had specific neighborhoods that were top of their list so John crafted daily listing alerts that matched their criteria and jumped on any new listings that could be a potential match. When the right home did appear on the market, they were prepared and ready to make their move. John was able to get their offer accepted having them officially in contract on a home!

Getting the job done - During the buying process, the Wohlers lived out of state. John stayed on top of all the details and helped them navigate the home inspection and contract-to-close process. He provided constant communication and worked hard to negotiate on their behalf and ensured they were on track for their closing. When the closing date finally arrived, they were able to close on time and without any issues. 

Advice from the Wohlers - If you are considering buying or selling a home, which will more than likely be one of the biggest financial transactions in your lifetime, do your due diligence when selecting a Realtor and trust your gut instinct. If your agent seems like they are just trying to make a sale then that's a huge red flag. The agent you choose will play a vital role in your purchase being a success or a process you never want to repeat.  
 
"We started looking for a home in Idaho and found John West through the Dave Ramsey Network. West Real Estate Group are such professionals and made the search for our new home a first-class experience. John listened to our list of wants and needs and developed a list of potential homes. The website was extremely helpful as well! Throughout the entire process, John made sure to keep in touch and check in with both of us during and after we completed our purchase. He and his team have streamlined the process to match you to your new home. We would highly recommend John and his associates to anyone looking to buy or sell a home!" -Nicole Wohler (Verified Google Review)

If you find yourself, or someone you know in a similar situation, we can help!
Give us a call today! (208) 501-8200 

P.S. You can also see what homes are available on the market now by visiting our website: WestRealEstateGroup.com
March 17, 2022

MARCH 2022 REAL ESTATE NEWS

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How Rising Interest Rates Will Affect You


If you are thinking about buying and or selling a home this year, you'll want to keep a pulse on what's happening with mortgage rates as they have been climbing in recent months and are predicted to continue to climb this year. 

With home prices steadily climbing here in the Treasure Valley, many people have put their housing goals on hold hoping and waiting for things to change; however, the supply and demand issues that are causing our market's growth are not easily going away and the more people wait and put their real estate goals and dreams on hold, the more it has ended up costing them. 

Now, with interest rates also on the rise, waiting to make a move may cost you more if you wait, and could even cause you to not be able to afford to make a move at all. 

 If you are considering buying or selling a home this year, our advice is don't stand on the sidelines waiting for things to get cheaper.

Remember, real estate is a long-term investment, and making wise decisions should be based heavily on your own personal needs and goals, not just what is going on in the market at large. Give us a call and let's discuss your personal situation and then we can offer you the best advice that is personalized for you, your goals, and your timeline.

If you have questions we want to hear from you! Give us a call today at (208) 501-8200 or email us at info@westrealestategroup.com.

To schedule an appointment you can do so by clicking here. 

At Your Service,
The Team at West Real Estate Group

 

Interest Rates as of 3/16/2022

  • 4.25% (4.443 APR) ~ 30-Year, Conventional Fixed Rate, Primary Residence; assuming 720 credit score.
  • 3.50% (3.797 APR) ~ 15-Year, Conventional Fixed Rate, Primary Residence; assuming 720 credit score.
  • 4.00% (3.298 APR) ~ 30-Year, FHA/VA/RD (Primary Residence), assuming 660 credit score.
  • 4.875% (5.029 APR) ~ 30 Year, Conventional Fix Rate, Investment Property, assuming 740 credit score; with 25% down payment.
  • 5.125% (5.395 APR) ~ 30 Year, Conventional Fix Rate, Investment Property, assuming 740 credit score; with 20% down payment.
 
The West Real Estate Group Team
Market Snapshot
Real Estate News
 
 
1. BRR Market Report: February 2022
The median sales price for Ada County reached $549,900 in February 2022, an increase of 21.6% compared to February 2021, and a new record for the county. 
READ MORE  >
 
2. How Global Uncertainty Is Impacting Mortgage Rates  
Rates have been climbing in recent months, especially since January of this year. Learn more about how these changes may affect you.
READ MORE  >
 

3. How To Navigate a Market Where Multiple Offers Is the New Normal 
If you’re thinking of buying a home today, you already know that the number of homes available for sale is low. But what does that really mean for you?
READ MORE >

 

4. Why It's Critical To Price Your House Right When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market

READ MORE >

 
 
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Testimonials
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"Derek was our Realtor

 and we couldn't have been more pleased. Derek has been in the real estate industry for almost 20 years and it shows! His expert knowledge was extremely valuable while choosing the best house for our growing family. You definitely can't go wrong with West Real Estate Group!

-Caleb Abernathy

Nationally Endorsed by Dave Ramsey
5.0 Google Business Review
Please help us in welcoming Luke Brodt to the West Real Estate Group family. Luke came on board a few months ago and has already experienced great success as an agent.

We are confident that he will be a huge asset to our team as we strive to meet our clients needs and know that you will love his down to earth demeanor and his get it done personality.

To learn more about Luke, please click here to read his bio. 
 
Thank you for reading our newsletter! 
March 3, 2022

Client Story: Overcoming Home Buying Struggles in Boise

Buying a Home in the Boise, Idaho Real Estate Market 2022

 

"It Matters Who Represents You!"
 
Meet the Henry's - Chris and Tracey Henry, both Idaho Natives, were looking to buy a house after renting for 10 years. They wanted to stop paying someone else's mortgage so they could start building their own equity, have a nice home to raise their son in, and be able to grow their family business by having access to their own shop for materials. In our current market, this was going to be a challenge. 

Their problem - After 6 long months of searching for a home with another agent, submitting offers only to be met with rejection after rejection, and going through two pre-approval processes they were feeling defeated and ready to give up. 

Meeting Realtor John West - They originally met John through Dave Ramsey's ELP (Endorsed Local Provider) program and although they felt that he was patient, informative, and low-pressure they decided to work with a family friend that was going to give them a 1% discount upon closing. Unfortunately, that agent was unable to get the job done for them and they kept running into dead-ends.

They thought their dream was unattainable, and after all but giving up, John simply had called to check in with them to ensure they had found a home. Tracey explained all that they had been through and shared their feelings of frustrations and the lack of hope they had in finding a home. John felt confident that he could help them successfully find and secure a home that fit their needs, wishes, and budget. With nothing to lose, the Henry's put their trust in him and decided to try again. 

A plan that worked - Within a few weeks, they had found a house that checked all their boxes and even had a shop! They were excited but also nervous to get their hopes up. John worked hard to negotiate with the seller's agent and by the end of the day, they had come to a win-win for all parties and the Henry's were officially in contract on their dream home! 

Getting the job done - Had the Henry's not placed their trust in John, they would have missed out on finding a home that they love, the incredible price appreciation that the Treasure Valley has experienced, and would have been continuing to pay some investor's mortgage. They now have a beautiful home to call their own and the space to scale their business. 

Advice from the Henry's - Do not let yourself be motivated with reduced costs when you choose a Realtor. Choose a Realtor who is experienced, informative, and easy to communicate with. It truly matters who you choose to represent you! 

 

Buying their first house in Boise Idaho real estate
If you find yourself, or someone you know in a similar situation, we can help!
Give us a call today! (208) 501-8200 

P.S. You can also see what homes are available on the market now by visiting our website: WestRealEstateGroup.com
P.S.S. The Henry Family runs a wonderful fencing company and should you need any fencing needs, they would love to help you!

Call them at (208) 514-8299 or visit their website to learn more: www.TreasureValleyFence.com