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Dori Wick
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Date Archives: December 2020

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December
16

Coldwell Banker Tomlinson Proudly Supports St. Jude Children's Research Hospital

 

Coldwell Banker Tomlinson Proudly Supports St. Jude Children's Research Hospital

Coldwell Banker Tomlinson has joined Coldwell Banker offices around the country by partnering with St. Jude in their mission: Finding cures. Saving children.®   Long a sponsor of the Boise area St. Jude Dream Home, CBT is committed to assisting in the lifesaving research and treatments used each and every day at St. Jude to battle and cure childhood cancers and other diseases.

Founded in 1962 by entertainer Danny Thomas, St. Jude Children's Research Hospital leads the way in the advancement of cures and prevention of pediatric catastrophic diseases. No child is ever denied treatment based on race, religion, or a family's ability to pay. The majority of funding comes from individual contributions, making CB Supports St. Jude even more important.

To kick things off locally, CBT pledged $5,000 to St. Jude, donating funds from each transaction closed. CBT agents are helping by doing the same. Agents participating in the CB Supports St. Jude program make a donation for every home sale or purchase completed and encourage all who can to assist in the effort by donating via THIS LINK.

December
16

Economic Information from Our Partners at Idaho Central Credit Union

 

 

Job Gains Slow; Manufacturing and Services Remain Strong

Overview: The past week was relatively quiet for mortgage markets. While the key labor market data was a bit weaker than expected, the other major reports were right on target, and they all caused little reaction. Mortgage rates remained near-record-low levels.

According to the most recent data, the solid rebound from unprecedented job losses has continued, albeit at a slower pace. In November, the economy gained 245,000 jobs, below the consensus forecast of 450,000. The economy has now recovered more than half of the 22 million jobs lost in March and April.

The unemployment rate matched expectations at 6.7%, falling from a peak of 14.7% in April and a level of 6.9% last month. Average hourly earnings, an indicator of wage growth, were an impressive 4.4% higher than a year ago.

Two significant reports from the Institute for Supply Management (ISM) released this week were close to anticipated levels. The ISM Services Index came in at 55.9, far above the level of 41.8 seen in April following the partial shutdown of the economy. Readings above 50 indicate an expansion. The ISM Manufacturing Index was even stronger, at 57.5. Since many consumers are spending less money on travel and leisure activities, they are buying more goods, which has boosted manufacturing activity.

 

December
15

The Home Identity Crisis: The Dining Room Office

 

Storage Solutions to Make Your Dining Room Office Sparkle

By Laura McHolm, co-founder of NorthStar Moving Company

Coldwell Banker Blue Matter

Remember life pre-pandemic lockdown before your dining room morphed into your zoom room, office, workstation, and study hall? Thanks to your new work-at-home lifestyle, files and papers found a permanent home on your dining room table. You probably haven't had a meal on that table, besides a quick sandwich and many lattes, since the onset of the COVID-19 pandemic.

Now the holidays are here, and while we won't be hosting big gatherings this year, it would be nice to have a holiday meal with a few close family and friends in your safe bubble. It's time to reclaim and tame the dining room table! A little organizational magic, and presto! You can alleviate the room identity crisis and turn it into a beautiful two-in-one space. An office by day and a dining room by night!

Here are simple ways to keep your dining room/office space organized and easy to clear for holiday meals:

  • Place trays on the dining room table so your work stuff has a home. At the end of the workday, simply remove the trays and…voila! There's actually a clear table when it's time for dinner.
  • Use magazine organizers for filing. Place magazine organizers on a tray. They not only keep your files tidy; they can easily be transported from the dining room. Way more efficient than stacks of papers or files, and your paperwork takes up less room.
  • Tuck a folding computer desk in the corner of your dining room. Use it as the home base for all your office trays and supplies. And when you want to completely clean-up the dining room, move your office trays into a closet or bedroom, and simply fold up the desk and remove it.
  • Use a rolling utility storage cart for office supplies and items. They easily roll away into a closet. You might call it a "miracle vehicle" as it whisks away the office items, clearing the way for holiday meals and pie.
  • Reuse a toy chest, or purchase a trunk, simply store all your office items inside. A trunk can hold and hide everything from files to your laptop. You can even choose a trunk that complements your dining room decor.

Have fun shopping online for pretty organizers. After all, you spend a huge part of your time working, so make it enjoyable!

With these budget-friendly storage solutions, your dining room can easily do double-duty: a functional space to both entertain and work. Your transformed two-in-one space has the added bonus of giving you peace of mind. Mindfully designing your space so it actually functions will make you feel more relaxed, organized, and in control. Here's to a unique and joyful holiday season!

 

Laura McHolm is an organizational, moving & storage expert and co-founder of NorthStar Moving Company. NorthStar Moving Company is an award-winning, "A+" rated company, which specializes in providing eco-luxury moving and storage services.  www.northstarmoving.com

December
14

Ada County Home Prices Driven by Insufficient Supply Compared to Demand

Ada County Home Prices Driven by Insufficient Supply Compared to Demand, Fueled by Low Mortgage Rates

By Breanna Vanstrom, Chief Executive Officer, Boise Regional REALTORS®

 

There were 887 homes sold in Ada County last month with a median sales price of $425,000 — the point at which half of the homes sold for more and half sold for less. This new record is a result of insufficient supply compared to persistently strong demand, fueled by historically low mortgage rates. 

As mortgage rates have fallen, homebuyers' purchase power has increased and for some, so has their willingness to offer higher purchase prices to be competitive, which has also had an impact on the overall median sales price. 

The 30-year fixed-rate mortgage was at 2.77% on average in November 2020, according to Freddie Mac — down 24.3% from last year. Based on the median sales price, a buyer with this rate could expect a monthly mortgage payment (principal and interest only) of $1,565 if they put 10% down or $1,391 if they put 20% down.  

For buyers who are selling a property and then purchasing another, their down payment often comes from the incredible equity that has built up over the past few years, as home prices have risen. However, many first-time homebuyers report securing a down payment was the most difficult task in the home buying process.  

[NOTE: There are a variety of down payment and closing cost programs available through the Idaho Housing and Finance Association, the City of Boise, and the Boise City/Ada County Housing Authorities, among others. Reach out to a REALTOR® and mortgage lender to find out what resources may be available for your specific needs and situation.] 

In a report from the National Association of REALTORS®, 22% of non-homeowners surveyed nationwide said that rising rents was holding them back from saving from a down payment, second only to their income level.  According to data from Apartment List.com, the average monthly rent in Ada County was at $1,106 in November, up 10.6% or approximately $106 per month compared to last year. 

A $1,106 monthly mortgage payment, based on the latest interest rates and a 20% down payment, is roughly the equivalent of a $270,000 home. In November, 138 homes sold at or below that price, which represented 14.4% of all sales.  

While rents remain more affordable than purchasing when looking at market averages, the pressure of rising rents and increased purchase power due to low mortgage rates is pushing many renters to become homebuyers, adding additional demand to the market. 

As noted, 887 Ada County homes sold in November, another 1,700 were under contract and should close within the next month or so, and an additional 408 homes were listed as available inventory. 

These numbers beg the question, "How can there be more home sales than homes available for purchase in a given month?" While we explained this in detail in last month's report, it's important to note that our inventory data is a snapshot of what's available for purchase on the last day of each month, not a cumulative total of the homes that were available for purchase throughout the month. 

As the supply of homes remained insufficient compared to demand, and as more buyers compete for the inventory that is available, the speed of the market continued to accelerate. 

In November, the number of days between when a home was listed and went under contract was at 13 days for existing homes (compared to 32 days in November 2019) and 29 for new construction (compared to 57 days). Meaning that properties can be listed and go under contract without ever being reflected in our inventory numbers. As long as the average days on market metric remains below 30 days, we could continue to see higher monthly sales numbers compared to available inventory. 

A fast, competitive market like ours presents challenges and opportunities to buyers and sellers alike. We are not seeing a typical winter slow down. In fact, throw out all of your preconceived notions about the best time to buy or sellIf you're ready to enter the market as a buyer or seller, a REALTOR® will be your most valuable resource in helping you make decisions quickly, navigate

To view the Treasure Valley Market Report for November, CLICK HERE.

 

December
7

Where to Find Unique Holiday Gifts in Boise

Boise Holiday Gifts

Still searching for the perfect holiday gift for the person who has everything? When you live in Boise, that's no problem! From local delicacies to art, candy, antiques, and so much more, the small businesses of Boise are sure to have just the right gift for everyone on your list. Many local businesses are also offering curbside pickup during this holiday season to make your shopping experience as smooth and convenient as possible. Our real estate agents have the details you need on 5 great Boise businesses where you can find unique holiday gifts this year.

  1. Boise Art Glass – 1124 W Front St., Boise, ID 83702
    Boise Art Glass 
    is one of the most distinctive small businesses located near Boise homes for sale, with a reputation for producing beautiful, artistic glass pieces that can add to the atmosphere of any home. Operated by local artists Filip Vogelpohl, Austin Grill, and Kevin Gray, Boise Art Glass is known for its colorful, creative glass designs that can brighten any room. You can shop from the extensive selection of items already available in the shop or order a custom piece when you truly want to surprise someone special.

  2. City Peanut Shop – 803 W Bannock St., Boise, ID 83702

    Whether you're searching for a great stocking stuffer or a small, savory gift perfect for a gift exchange, you're sure to find something delicious at City Peanut Shop. Simplify your shopping by ordering from a wide selection of holiday gift boxes, which include items like peanut butter, peanut brittle, gourmet popcorn, chocolate, and of course, fresh roasted peanuts. There are also plenty of smaller gift items available, perfect for creating your own basket of holiday cheer.

  3. The Mixing Bowl – 216 N 9th St., Boise, ID 83702

    Inspire the chef in your life when you give them something from The Mixing Bowl. This downtown shop is stocked with cookware, bakeware, bowls, kitchen gadgets, and more. From fun to functional finds this local shop is sure to impress. Be sure to stop in next time you're downtown, or purchase an e-gift from their website. 

  4. The Chocolat Bar – 805 W Bannock St., Boise, ID 83702

    A gift that satisfies the sweet tooth never goes out of style, and The Chocolat Bar is creating plenty of special treats just in time for the holiday season. You can shop for holiday favorites like peppermint bark, peppermint caramel, and eggnog truffles, all created fresh by your Boise chocolate experts. Order online to make buying delicious gifts a breeze.

  5. Molly's Healthy Pet Food Market – 817 W Idaho St., Boise, ID 83702

    Searching for a healthy gift for your beloved pet or your favorite pet owner? Then Molly's Healthy Pet Food Market is sure to have something for you, with free delivery available in the Boise area. From raw food to fresh-made treats and pet outerwear to unique home accessories, Molly's offers a little bit of everything for your four-legged friend. There's even a special selection of holiday-themed gifts, including new toys, ornaments, stockings, and even clothing items for pet owners. 

What could be a better gift for your family than finding the perfect home to call your own this holiday season? Contact us to buy and sell homes throughout the Boise, ID area.

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 08/14/2022. The listing information on this page last changed on 08/14/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of INTERMOUNTAIN MLS (last updated Sun 08/14/2022 8:09:05 PM EST). Real estate listings held by brokerage firms other than Coldwell Banker Tomlinson may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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