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Dori Wick
REALTOR®
(208) 869-0282

Date Archives: June 2021

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June
21

Moving Tips: How to Help Your Kids Adjust

Moving Tips

Moving is one of the most exciting yet stressful events in a person's life, but for kids, adjusting to a new environment can be especially difficult. The ages of your children also may play a role in how they cope with the change. Regardless, moving is an emotional experience, and taking the time to learn how to minimize the impact on your family is definitely important. Our real estate agents have helped many families move, and with our experience, we've pulled together a list of tips to help your kids adjust to a change in scenery. 

  1. Talk To Your Kids Upfront
    Kids often become upset when faced with the unknown, so it's best to talk with them upfront about your plans. If you're frequently discussing the move with your partner, your kids will be quick to pick up on the idea that something is up or about to change. Once you've figured out your plan, it's a good idea to have a sit-down family discussion and keep them in the loop.

  2. Provide Stability
    Most kids become anxious when they feel that life is changing. Reassure them and remind them that some things will still be the same. If you're moving a short distance, remind them that they can still visit with friends. If the entire family is moving, reinforce the idea that everyone will be together. If the move is a result of a divorce, plan and discuss visitation routines ahead of time. Whatever your situation is, make sure to build, prioritize, and communicate a sense of stability.

  3. Take Your Kids To The New House
    In the weeks leading up to the move, take your kids to visit the new home. Allow them to see their new bedroom and point out where your belongings and furniture will go. Be sure to drive by any nearby amenities such as parks, pools, and libraries, and take your kids to visit their new school well before the first day. The more kids can ease into the moving process, the smoother it will be.

  4. Allow Them To React
    During the moving process, your kids are likely to experience a wide range of emotions, including sadness, anxiety, frustration, and perhaps even anger. Don't dismiss or minimize their feelings. Talking and venting are important parts of the adjustment process. Allow them to express their emotions so they can adequately adjust to the changing environment. 

  5. Help Them Say Goodbye
    If your kids will be leaving parts of their life behind, helping them say goodbye can provide them with the closure they need to adjust to new surroundings. If changing schools, allow them to say goodbye to teachers and friends. Doing a final walkthrough of the old house is also a good way to reminisce and enjoy the good memories you had.

While changing homes can be challenging for families, it's a lot easier when you're moving to a place you love. If you're planning to relocate, check out some of these beautiful Boise homes for sale. We'd be happy to guide you through the process, so contact us today.

June
18

Spam Email: Best Practices

 

Tips for Dealing with Spam Email

From Your Friends at Integrity Computer Consulting and Repair

We have seen an unprecedented rise in spam email, spoofing and phishing attacks are on the rise as well.  Unfortunately we see these continuing and increasing into the future.  

 Here are a few best practices and tips keep it to a minimum: 

  1. When in doubt, do not open the email. Many spam emails have attractive subject lines to get you to open the email.  When that happens, the sender/spammer is notified with analytics and they will keep sending emails to you.
  2. Do not reply to spam or spoofed emails. Google the business and call the number from there if you are unsure of an email's legitimacy.
  3. Email management is key.  Do not delete these messages.  Move them to your spam filter or mark them as junk, often this is as simple as a checkmark or a right-click on the message in the email list to do this.  It can be done in Outlook and the web portals for all email providers. All mail servers are heuristic and actively and constantly learn how users use their email.  The more you move to spam and junk, the more your email provider will start to put there automatically.
  4. Never respond to emails asking you to verify information like phone numbers, credit card info, etc. These are phishing emails and are 100% never legitimate.  If you have fallen victim to a phishing email, please call our office so we can assist you in securing the account that was compromised.
  5. Unsubscribe from those pesky newsletters you signed up for. Scroll down to the bottom of the email and hit that link to unsubscribe.  It can be automatic or they will give you a list of options to unsubscribe from.
  6. Covet your business and personal email addresses.  Is saving 50¢ on a gallon of milk, gas, etc, worth years of daily headache with spam emails and also giving businesses the ability to sell your information or lose it in a data breach?  It's more common than you think.
  7. Set up a separate email for those spammy newsletters, loyalty programs, etc.

 As always you can send questionable emails to us for evaluation.  Send them to info@integrityidaho.net. However, as most of these emails are spam, they do get caught in our spam and junk filters.  If you do not receive a response, please call our office at 208.288.4345 and check to make sure we have received it. 

June
17

From Our Lending Partners at Idaho Central Credit Union

 

 

Good Hospitality Job Gains Fuel Hope in Promising Mortgage Market

Last week's labor report illustrated good hospitality job gains after a rough 2020. Overall, this continues to fuel hope in what's quickly becoming a promising mortgage market.

However, the job gains fell in line with current expectations. As a result, mortgage rates ended the week nearly unchanged.

Good Hospitality Job Gains

In May, the economy gained 559,000 jobs. Thus, May's job gains fell a little below the consensus forecast of 650,000.

Not only were there good hospitality job gains, the leisure sector realized economic strength as well. Again, this is after the economic nightmare of 2020. When the coronavirus pandemic struck, both the hospitality and the leisure sectors saw limited activity. Simultaneously, both sectors saw countless layoffs while the American economy spiraled. For now, it appears that the worst is over.

The unemployment rate fell to 5.8%. In conclusion, this dropped slightly below the consensus of 5.9%. On the other hand, average hourly earnings rose 2.0% higher than a year ago. In addition, the most recent average hourly earnings jumped up from an annual rate of increase of 0.4% last month. Generally, analysts view average hourly earnings as an indicator of wage growth.

Economic Prospects Aside from the Good Hospitality Job Gains

Even with another month of good hospitality job gains, the economy still has a long way to go. 2020 accounted for countless financial losses due to the global COVID-19 pandemic.

While the economy faces a path to recovery, it has about seven million fewer jobs than it did early last year. Therefore, Fed officials desire to move slowly before tightening monetary policy.

Manufacturing Sector Update

Aside from the job gains spearheaded by the hospitality and leisure sectors, last week showed other economic news. The Institute of Supply Management (ISM) remained at very high levels, as expected.

The national manufacturing index rose to 61.2. Also, the national services index increased to 64.0. This is a record high.

Levels above 50 indicate that the sectors are expanding. Of note, a large number of companies reported difficulties in hiring enough workers to keep up with growing demand.

Looking Ahead After the Good Hospitality Job Gains

Looking ahead after the good hospitality job gains, investors monitor global COVID-19 case counts and the vaccine distribution. Analysts widely follow the Consumer Price Index (CPI). In essence, CPI looks at the price change for goods and services.

Commentary provided by MBSQuoteline

For answers to your questions regarding this information and what it might mean for you, please don't hesitate to contact us. We are here to help!

 

June
16

Take Advantage of Your Home Equity: A Homeowner's Guide

Homeownership offers many advantages over renting, including a stable living environment, predictable monthly payments, and the freedom to make modifications. But one of the biggest benefits it offers is the opportunity to build wealth over time. Researchers at the Urban Institute found that homeownership is financially beneficial for most families, and studies have shown that the median net worth of homeowners can be up to 80 times greater than that of renters in some areas.

So how does purchasing a home help you build wealth? And what steps should you take to maximize the potential of your investment? Find out how to harness the power of home equity for a secure financial future.

WHAT IS HOME EQUITY?

Home equity is the difference between what your home is worth and the amount you owe on your mortgage. So, for example, if your home would currently sell for $250,000 and the remaining balance on your mortgage is $200,000, then you have $50,000 in home equity.

The equity in your home is considered a non-liquid asset. It's your money; but rather than sitting in a bank account, it's providing you with a place to live. And when you factor in the potential of appreciation, an investment in real estate will likely offer a better return than any savings account available today.

HOW DOES HOME EQUITY BUILD WEALTH?

A mortgage payment is a type of "forced savings" for home buyers. When you make a mortgage payment each month, a portion of it goes towards interest on your loan, and the remaining part goes towards paying off your principal, or loan balance. As your loan balance goes down, your home equity goes up.

Additionally, the value of your home generally increases, or appreciates, over time. And when you sell it, even if you've only paid off a small portion of your mortgage, you get to keep 100% of your property's appreciated value. That's the wealth-building power of real estate.

WHAT CAN I DO TO GROW MY HOME'S EQUITY FASTER?

There are two basic ways to increase the equity in your home:

  1. Pay down your mortgage. Some homeowners do this by adding a little extra to their monthly payment, making one additional payment per year, or making a lump-sum payment when extra money becomes available. Another option is to decrease your amortization period. For example, if you can afford the higher monthly payment, consider refinancing from a 30-year or 25-year mortgage to a 15-year mortgage

  2. Raise your home's market value. Many homeowners enjoy do-it-yourself projects that add value at a relatively low cost. Others choose to invest in larger, strategic renovations. Keep in mind, you won't necessarily get back every dollar you spend on upgrades, so consult a professional before making any major investments.

A word of caution: neglecting routine maintenance could decrease your home's value (and equity), so be sure to stay on top of recommended upkeep and repairs.

HOW DO I ACCESS MY HOME EQUITY IF I NEED IT?

What if you want to tap into your home's equity while you're still living in it? There are several ways to borrow against your home equity, depending on your needs and qualifications:

  1. A Second Mortgage (or Home Equity Loan) enables you to borrow a lump sum, which you are responsible for paying back—with interest—over a set period of time. Most second mortgages have a fixed interest rate and provide the borrower with a predictable monthly payment.

  2. With a Cash-Out Refinance, you refinance your mortgage for a higher amount than you currently owe. Then you pay off your original mortgage and keep the difference as cash. This option may be preferable if you have a high-interest rate on your current mortgage or prefer to make just one payment per month.

  3. A Home Equity Line of Credit (HELOC ) is a revolving line of credit, similar to a credit card. It allows you to draw out money as you need it. The interest rate on a HELOC is variable, so your payment each month could change depending on how much you borrow and how interest rates fluctuate.

  4. A Reverse Mortgage enables qualifying seniors to borrow against the equity in their home to supplement their retirement income. In most cases, the loan (plus interest) doesn't need to be repaid until the homeowners sell, move, or are deceased.

It's important to note that borrowing against your home's equity isn't always the best option, and it carries the risk of foreclosure if you default. Please ask for a referral to a lender or financial adviser to find out if a home equity loan is right for you.

ALWAYS HERE TO HELP

If you're ready to begin building equity with a new home purchase, grow the value of your current home, or access your equity through a home sale or loan—help is here.  Schedule a complimentary consultation!

The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.

June
14

Ada County's Median Sales Price Sets Record

Ada County Median Home Prices Exceed $500,000 

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

 

Note: Last year, our May 2020 market report showed a nearly 30% drop in sales year-over-year in Ada County, the largest drop since 2008. Sales were down because REALTORS® and consumers heeded the statewide stay-home order that was in place at that time, and sales quickly rebounded as we moved through the phased re-opening plan. Since there will be stark fluctuations when comparing activity this year to last year, we will focus on month-over-month changes instead.  

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The median sales price for homes in Ada County reached a new record of $523,250 in May, up 8.7% compared to April 2021. Crossing this threshold may have been anticipated by some, considering the recent report from realtor.com shared by the Idaho Statesman noting that the Boise metro's price growth was the highest in the country over the past four years.

The Boise region has faced insufficient supply for years, which has been the main driver of home prices, but several factors have accelerated the growth in recent months. Buyer demand remains high due to historically low mortgage rates, and the added ability for more people to work remotely has likely increased in-migration due to our relative comparative affordability in comparison to more expensive metro areas.

Further, the supply of homes for sale continues to be restricted by longer homeownership tenure, baby boomers aging in place, and hesitancy from potential sellers who may be concerned about finding another home in these competitive market conditions.

New construction has often been an option for those looking to sell their existing home; however, due to rapid increases in material costs — especially lumber — coupled with supply chain disruptions, not only are new construction homes more expensive, some builders have held back available inventory until they are closer to delivery so they can price the property based on final materials costs. As a result, new construction home prices reached a median sales price record of $544,986 in May 2021 — an increase of 16.0% from the previous record of $469,900 in April 2021.

With delays in new home delivery, demand for existing homes that are ready to move-into, further increased. Prices followed suit with nearly 70% of buyers willing to pay over list price for existing homes in May 2021, compared to 30% from a year ago. This led to a new record median sales price for the existing segment of $523,250, up 8.7% from the previous record of $481,208 in April 2021.

However, the amount buyers were willing to pay over list price varied by the price point of the home, with the most expensive homes selling for the highest amount over list. For homes that sold at or above $750,000, buyers were willing to pay nearly $80,000 beyond list price, on average, in May 2021, putting additional upward pressure on the overall median sales price.

Average Paid Over List Price - Existing Homes - Ada

The speed at which Ada County homes went under contract also accelerated, as the average number of days between when a home was listed for sale and an offer was accepted dropped to a record low of 12 — two days faster than in April 2021. Existing homes had accepted offers within just nine days, on average, the shortest amount of time on record, and 10.0% faster than last month.

The drastic rise in home prices and competitive market conditions can be challenging for those looking to get into the market, particularly at the lower price points. Some may decide to wait awhile before starting their home search or continue to save for a down payment to improve their purchase options, while others may consider expanding their search area for homes farther from the Boise metro. But for those who are ready to buy, we want to stress that while it's taking more work to purchase a home right now, it isn't impossible to buy a home in the Treasure Valley. We have hundreds of sales closing just in Ada County every month and working with a REALTOR® is your best bet to help guide you through the fast and complex process.

When you're ready to start your home search, your REALTOR® will likely present a buyer representation agreement, giving them permission to work on your behalf, including the ability to write, present, and negotiate offers for you, once you find a home you'd like to purchase. Additionally, your agent can advise you on search strategies to find homes that fit your needs and budget and discuss the financial and legal implications of presenting offers over list price or that may waive certain contingencies like an inspection or appraisal, and whether those tactics are right for you and your specific situation.

Stages of a Real Estate Transaction

In each of our reports in 2021, BRR is focusing on the various phases of a real estate transaction to help consumers be prepared before, during, and after a real estate transaction, showing them what their REALTOR® will be doing for them along every step, and the key data points they can look for to make sense of the market. 

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

 

June
7

Where to Order Ice Cream in Boise this Summer

Boise Ice Cream

As the weather starts to warm up in Boise, you might need some help staying cool. And what better way to stay cool than with ice cream? Whether you're a fan of sundaes or waffle cones, these are some of the top Boise ice cream shops our real estate agents recommend visiting.

  1. Delsa's Ice Cream Parlor: 7923 W. Ustick Rd., Boise ID, 83704
    After a long day of looking at Boise homes for sale, stop by Delsa's for some homemade ice cream. The ice cream parlor itself was originally a farmhouse built in the 1920s. Delsa's has won several awards, including Treasure Valley's Best Local Ice Cream.

    At this old-fashioned shop, you can order one, two, or three scoops of your chosen flavor, served up in a classic waffle cone. They have a rotating selection of 50 flavors! Guests also love the old-fashioned malts and shakes, along with the pecan balls, which are scoops of ice cream rolled in pecans and topped with hot fudge or caramel.

  2. Goody's Soda Fountain: 1502 N. 13th St., Boise ID, 83702
    In the heart of Boise's North End and historic Hyde Park, you'll delight in Goody's rich and yummy ice cream, made right in their store. Opened in Boise in 1997, family-owned Goody's has become a staple for young and old alike. 

    Don't stop at the ice cream! Goody's also features decadent hand-made chocolates, vintage candies, and delicious caramel corn. Take a stroll through Hyde Park this summer, and be sure to stop to feed your sweet tooth at Goody's!

  3. The STIL: 786 West Broad St., Boise ID, 83702
    The STIL is a modern ice cream shop seeking innovative new ways to enjoy this favorite dessert. They make everything in small batches, using Idaho dairy and fresh ingredients. "STIL" stands for "Sweetest Things in Life."

    The STIL is known for their line of booze-infused ice creams, like Highway 1, infused with cream ale and loaded with toffee and butterscotch. They also offer plenty of vegan and gluten-free options. 

  4. Blue Cow Frozen Yogurt: 2333 S. Apple St., Boise ID, 83706
    If you're trying to make healthier choices, trade your ice cream cone for some froyo at Blue Cow Frozen Yogurt. This cute shop lets you build your own yogurt treat, loading it with whatever toppings you desire, from strawberries to Twix bars. With low-fat, non-dairy, and no-sugar-added options, this shop offers something for everyone. They also serve bubble tea, another nice treat for a warm day. 

  5. Smallcakes: 9050 W. Overland Rd. #1130, Boise ID, 83709
    Their name might say "cake," but Smallcakes is also a creamery and a delicious one at that! The shop was founded by Jeff Martin, who appeared on the infamous show Cupcake Wars. The cupcakes are incredible, so consider ordering one alongside your ice cream.

    If your appetite is up to the challenge, you can't go wrong with Smallcakes' ice cream cookie sandwiches. You get two giant, fluffy cookies with a big scoop of ice cream between them. Each one is made to order, and there are three types of cookies to choose from.

  6. Bite Me: 3525 East Longwing Lane, Meridian ID, 83646
    If you happen to be looking at Meridian homes for sale, this is a great ice cream shop to check out. Bite Me allows customers to create their own custom ice cream bars. You get to choose your ice cream, watch it being dipped, and then select additional toppings, like Oreo crumbs or chopped pretzels.

    You can select one of Bite Me's specialty treats or create your own combination. 

Any one of these ice cream shops is sure to satisfy your sweet tooth. If you fall in love with the Boise area and decide to stay, contact us to learn more about our real estate services.

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 7:53:59 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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