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Dori Wick
REALTOR®
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Date Archives: February 2022

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February
21

Why Tech Companies Love Boise

Boise Tech

While our real estate agents have always known that Boise is a fantastic spot to call home, tech companies are increasingly turning to Boise to set up their operations. The influx of tech companies to Boise began more than a decade ago and has only increased in recent years. Here are just a few of the reasons that tech companies are flocking to Boise.

  • Boise Has Business-Friendly Policies
    The policies in Boise make it an affordable place for businesses to operate or set up a new company. There are multiple business-friendly laws that help companies lower their expenses. The corporate tax rate is lower than most cities, and Boise has one of the lowest energy costs in the nation. Access to cheap energy is a huge perk for companies that depend on energy-intensive technology. Many Idaho businesses also qualify for property tax exemptions.
  • Boise Offers a Low Cost of Living
    Boise living expenses are a relief for individuals who are used to dealing with a much higher cost of living in other popular tech towns. Even though home values have increased in recent years, property in Boise is affordable when compared to prices in other large cities. When you're shopping for Boise homes for sale, you'll notice that property taxes for potential homes are also affordable and won't erode the money that you save by purchasing a home in a city with a lower cost of living. This makes Boise an attractive city for tech workers who are tired of exorbitant housing costs and high taxes. Utility bills, construction costs, and operating expenses are also cheaper for Boise businesses than the costs in other comparable towns. 
  • Boise is Centrally Located to Multiple Tech Hubs
    Boise is located in close proximity to other cities popular with businesses. Seattle, Los Angeles, Portland, Denver, and Phoenix are only a short plane ride away. A central location allows tech companies to take advantage of Boise's low costs without sacrificing a quick connection to hubs and supplies in other cities. 
  • Boise Has an Educated Population
    Practically all of Boise's students graduate high school, and almost half of Boise's residents have a bachelor's degree. Boise State University is Idaho's second-largest university with more than 20,000 students. This means that Boise has a large pool of educated workers for tech companies to hire. 
  • Boise is a Fantastic Place to Live
    There's a lifestyle and culture in Boise that other cities want to replicate. Boise boasts extensive natural beauty, including wide, clear blue skies, peaceful forests, and picturesque lakes. The streets are walkable, and the city offers a high quality of life. With over 100 parks, a bustling downtown area, lots of playgrounds, and museums, Boise offers a small-town atmosphere with big-city amenities. Companies and potential employees find Boise an attractive place to live and are often more than happy to relocate. 

There's so much to love about living and working in the Boise area. Ready to start looking for your Boise home? Contact us to begin your search!

February
16

Economic Information from Idaho Central Credit Union

 

 

Inflation Surges to the Highest Level Since 1982

As inflation surges to the highest level since 1982, the mortgage market left investors stunned. For months, investors remained on edge regarding the inflation rate. On Thursday, the latest Consumer Price Index report hit them with a powerful one-two punch.

First, the CPI inflation report soared even higher than expected. Next, the Federal Reserve a very rapid pace of rate hikes to bring down inflation. As a result, mortgage rates climbed to the highest levels in over two years. Additionally, mortgage rates skyrocketed over 100 basis points higher than a year ago at this time.

Inflation Surges with Latest Consumer Price Index Report

Investors closely watch the Consumer Price Index (CPI) report. As an inflation indicator, CPI looks at price changes for a broad range of goods and services. Core CPI excludes the volatile food and energy components and provides a clearer picture of the longer-term trend. In January, Core CPI rose 6.0% higher than a year ago as inflation surges. Not only is this above the consensus forecast and up from an annual rate of increase of 5.5% last month, Core CPI achieved its highest level since 1982.

There are many reasons why the annual core inflation rate has jumped from the readings below 2.0% seen early in 2021. These include a tight labor market, strong consumer demand for goods, rising energy prices, and supply chain disruptions. Also, the long-term supply shortages caused enormous cost increases. For instance, the price of used cars, climbed 41% higher than a year ago. Fed officials and economists remain divided about how much the recent spike in inflation will subside as temporary factors caused by the pandemic are resolved.

Federal Reserve Rapidly Tightening Monetary Policy

As inflation surges, investors raised their expectations for the pace of Fed tightening this year. Later that day, Federal Reserve official James Bullard hit investors with unexpectedly hawkish (in favor of tighter policy) comments. Bullard said that he would "like to see 100 basis points in the bag by July 1," which would mean federal funds rate increases totaling a full point over the next three Fed meetings.

Investors again raised their outlook for the pace of rate hikes after the comments. Now, investors anticipate a 50-basis point increase instead of a 25 basis point increase at the next meeting on March 16th. Also, investors expect the Fed to scale back its bond purchase program more quickly. Since this will reduce demand for bonds, including mortgage-backed securities (MBS), mortgage rates rose on the news.

 

Looking Ahead After Inflation Surges to Highest Level Since 1982

After inflation surged to its highest level since 1982, investors look for additional guidance from the Federal Reserve regarding future rate hikes and its balance sheet reduction. Furthermore, investors continually monitor the status of the Omicron coronavirus variant.

Beyond that, Housing Starts come out on Thursday. Additionally, Existing Home Sales releases on Friday. Concurrently, the latest Retail Sales data also publishes on Friday. Because consumer spending accounts for over two-thirds of United States economic activity, the retail sales data indicates growth.

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We understand that no two paths to buying a home are the same. Whether you're a first-time homebuyer or a seasoned real estate mogul, we have a variety of products and loans designed specifically to meet your needs. We offer local underwriting and fast approvals to save you time and money. We have options for down payments and additional resources like our Finally Home! online program to help guide you through the home buying process. Contact one of our home loan specialists to discuss your options today!

 

February
15

Doers of Good: Featuring The Idaho Humane Society

Doers of Good: Leah and Dave Morgan

The Coldwell Banker Tomlinson #DoersOfGood program is designed to shine a light on the givers in our real estate family, and, by doing so, encourage others in our community to help wherever they can.

Our February #DoersOfGood are a very special couple who have made it their mission to support animals in need. Leah and Dave Morgan, Realtors® and leaders of The Morgan Team at Coldwell Banker Tomlinson, work with the Idaho Humane Society doing whatever they can to help.  Leah provided this first-person account:

We have a long-time history of service AND loving animals and like many people, got especially involved when our daughter wanted to get involved as well.  We started with the Idaho Humane Society by fostering animals (cats and dogs) and started helping with the IDAPI (Inmate Dog Alliance Project of Idaho) where we helped bridge the gap between the now-trained dog "graduating" and the family introduction.  It is amazing to see a dog have a purpose, be well trained, AND become a family member! 

As we fostered dogs and cats, sometimes just for a few weeks while meeting possible new owners/family members and helping the dog have good manners with some light training and learning their "issues" and showing them kindness and some structure, we could literally SEE dogs learn they were safe and were going to be treated well. 

On occasion, we would get a call for an entire litter of kittens and their mama who needed a spot until the kittens were old enough to adopt.  We created the "cat" room in our house so we could quarantine them in their own comfy space.  In most instances, we loved every animal and loved the process of helping them find their furever families. When we didn't have fosters, we were happy to just go walk the dogs at the shelter! 

One particular cat that we fostered, an all-black cat, was not cuddly, wouldn't let us or anyone hold him, and over and over the families that came to meet him passed him by. He was very well behaved and rarely would get on the furniture, etc.  By month 13 of fostering him, we knew his quirks and decided to just adopt him ourselves.  That VERY night, he crawled up on the end of the bed and purred loudly – he KNEW he was home!  It turned out that he was our 13th foster animal, and we renamed him Sirius Black since he was much more like a dog!

We continue to support the Idaho Humane Society by doing the annual See Spot Walk, donating, and fostering whenever possible.  There are so many needs and areas the Humane Society can use our help – from doing laundry at the shelters to delivering supplies, fostering, and of course, adopting a new family member to make your home even more complete! I hope you consider making a donation to them today!

The Humane Society is solely run on volunteer efforts, donations, and fundraisers. The largest fundraiser is See Spot Walk.  We've been donating and participating almost every year since 2009 (and twice while on vacation!).  Donations help tremendously, not just money but things like towels, blankets, food, and supplies, and most importantly time walking the dogs, doing laundry, cleaning cages, sending info, staffing the front desk, delivering items, and fostering, to name just a few. 

When you think how much a furry friend completes the home and family for nearly 75% of Idahoans, it's no wonder the need is so great. 

Coldwell Banker fosters a culture of giving, knowing we are more than real estate agents and that community is in our nature. Being a "Doer of Good" and sharing #CBGoodNews reach far beyond real estate. This is the "good stuff" in life, why we want to give in multiple "causes" and believe that we all can make a difference beyond our expertise of buying and selling real estate. We are only as strong as our community, so it behooves us all to do everything we can.

 

To learn about The Idaho Humane Society and explore all the ways you can help, please visit https://idahohumanesociety.org/.

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Join us in celebrating our Doers of Good by getting involved in one of the programs we will spotlight over the next several months or tell us in the comments below about what lights your fire when it comes to making our communities better. 

February
15

Increase in Home Prices Slowed in January

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

Home Prices Rise but Rate of Growth Slowed in January

In January 2022, the median sales price for homes in Ada County was $540,000, an increase of 20.0% compared to January 2021, but a slight decrease of 1.1% from the month before.

While the actual median sales price continues to trend upwards, the rate at which it does so has been slowing in recent months. Throughout 2019, we saw fairly steady price growth, and in December 2020, it jumped above 20% year-over-year, reaching a peak of 45.3% in May 2021.

Since then, price growth has slowed, landing at 20.0% in January 2022 — by no means an insignificant year-over-year change, especially for prospective home sellers, but a welcome reprieve from the higher gains we saw last year, especially for prospective homebuyers.

Home price increases continued to be driven by insufficient supply compared to buyer demand — primarily fueled by population growth, migration trends, and increased purchase power due to historically low mortgage rates. The most recent uptick in demand came from people re-thinking how they live and work as a result of the pandemic, contributing to the competitive conditions that enabled the incredible price growth we've seen in the last year.

The metric used to illustrate the supply vs. demand relationship is Months Supply of Inventory (MSI), which takes the number of homes for sale divided by the average number of sales by month for the preceding 12 months. As of January 2022, Ada County was at just 0.3 months for existing homes and 1.0 month for new construction, meaning, if no additional homes were listed, the supply of homes would run out in a matter of weeks. A balanced market — not favoring buyers or sellers — is typically between 4-6 months of supply.

Even though buyer demand has been outpacing supply, weekly listing activity in 2022 has trended up, indicating that an increasing number of homeowners were ready to sell and cash in on the equity their homes have acquired over the last few years.

Listing activity in 2022 has so far been higher than the same period in 2021, but actual weekly listings were down compared to 2019 and pre-pandemic 2020. We'll be watching to see if future weekly listings of existing homes match or exceed those in previous years.

With low, but increasing, inventory, will we continue to see the fast market pace and multiple offer scenarios experienced in 2021? We can't say for sure, but so far Days on Market (DOM), the metric that measures the time between when a property is listed and when it has an accepted offer, has increased and normalized for existing homes.

Days on market for existing homes reached 33 days in January 2022, 18 days longer than in January 2021 and more in line with pre-pandemic levels in early 2020. This is good news for buyers as they may have a bit more time to make decisions and may not feel the need to waive contingencies when writing offers.

Additionally, the Percent of Original List Price Received for existing homes that sold in January 2022 was 97.3%, meaning that, on average, buyers paid less than asking through a lower accepted offer and/or seller concessions. In contrast, the Percent of Original List Price Received for existing home sales in January 2021 was 103.6%, indicating that, on average, buyers were paying more than asking price for homes.

It's hard to say whether these longer, healthier market times were due to increasing prices, increasing mortgage rates, or some combination of the two. While competition may have begun ramping up again, one thing is for sure — our market needs more inventory in order to be more balanced. Homeowners who are considering selling are encouraged to talk to a REALTOR® right away to learn more about thier options. With the appreciation in home prices, there may be more equity than a seller might think.

Other notable statistics from January 2022:

  • The median sales price for existing homes in January 2022 was $515,100, 18.4% higher than in January 2021. The median sales price for new construction in January 2022 was $588,945, 28.0% higher than a year ago.
  • There were 441 homes available at the end of the month — 63.9% more than in January 2021 — although still very low compared to buyer demand.
  • Of the 671 sales in the county, 457 were existing homes, an increase of 30.6% compared to the year prior. Overall sales (existing and new combined) were up 10.5% compared to January 2021.

To view the Treasure Valley homes currently for sale, CLICK HERE.

 

February
14

Celebrate Valentine's Day with a Little Trivia

Test Your Valentine's Day Knowledge

Happy Valentine's Day to you and yours!  Today is the day for love and romance, heart-shaped chocolates and candlelit dinners.

What do you really know about Valentine's Day? Here are some fun trivia questions to test your knowledge.

  1. When was the oldest-known Valentine's Day message written, and from where? 
  2. When was February 14th first declared as Valentine's Day? 
  3. Who invented the first Valentine's Day candy box? 
  4. What is the average number of marriage proposals on Valentine's Day each year? 
  5. How much on average is spent on chocolate in America for Valentine's Day each year? 
  6. How many roses are sold on Valentine's Day each year? 
  7. How many Valentine's Day greeting cards are purchased in the U.S. each year? 
  8. How many people typically purchase Valentines for their pets? 
  9. If you send a snarky insult on Valentine's Day, what kind of "greeting" are you sending?
  10. What year were the popular "conversation Sweethearts" not available?

 

Ready for the answers?

  1. The oldest-known Valentine was in 1415, sent by Charles, Duke of Orleans, to his wife from the Tower of London where he was imprisoned. 
  2. Valentine's Day was declared an official holiday in 1537 by King Henry VIII. 
  3. English entrepreneur and chocolate-maker Richard Cadbury created the first heart-shaped box of chocolates. 
  4. 220,000 
  5. It is estimated that over $1 billion is spent in the U.S. each year for Valentine's Day. 
  6. 189 million 
  7. Approximately 1 billion 
  8. 9 million 
  9. Insulting Valentine's messages are known as "Vinegar Valentines."
  10. The ever-popular "Conversation Hearts" were unavailable in 2019 after their manufacturer Necco declared bankruptcy in 2018. Thankfully, the Spangler Candy Company purchased the rights, and the candies returned in 2020.

    How'd you do? 

    Whether you are celebrating with your beau, your best friends, your pets, or your neighbors, we wish you a day full of love!

    February
    11

    Super Snacks for Super Bowl Gatherings

    Get Ready to Entertain with These Winning Snacks

    For the vast majority of Americans, Super Bowl Sunday is a national holiday. Big gatherings, team jerseys, and food. Lots and lots of food. In fact, according to Wikipedia, roughly 28 million pounds of chips are consumed just on this day. Add to that 1.25 billion chicken wings and 8 million pounds of guacamole! 

    Perhaps you're looking for some great ideas to add to the menu. Read on! 

    Artichoke Dip

    • 2 cans of non-marinated artichoke hearts
    • 1 c. mayonnaise
    • 1/2 c. sour cream
    • 1 can of diced green chilis
    • 1 c. shredded parmesan cheese

    Combine all ingredients in a small baking dish and bake for 20 minutes at 400°. Serve with tortilla chips.

     

    Dill Pickle & Ham Pinwheels

    • ½ lb. thinly-sliced ham
    • 4 oz. cream cheese
    • 4 large whole dill pickles

    Pat pickles dry with a paper towel. Cover each pickle with 1 oz. of the cream cheese & wrap with ¼ of the ham. Repeat with the remaining pickles & refrigerate for at least 1 hour. Slice into 1" pieces & enjoy!

     

    Tequila-Spiked Salsa

    • 2 c. chopped, seeded tomato
    • 1 c. chopped onion
    • 1/2 c. chopped fresh cilantro
    • 1/3 c. peeled, chopped avocado
    • 2 Tbsp. fresh lime juice
    • 2 tsp. tequila (optional!)
    • 1/2 tsp. kosher salt
    • 2 cloves garlic, minced

    Combine all ingredients & toss gently. Serve with tortilla chips.

     

    Buffalo Chicken Dip

    • 10 oz. chicken breasts, boiled & shredded
    • 2 (8 oz.) packages of cream cheese, softened
    • 1 c. ranch dressing
    • 3/4 c. (or more based on taste/preferences)
    • pepper sauce (e.g. Frank's Red Hot®)
    • 1-1/2 c. shredded cheddar cheese

    Place shredded chicken & hot sauce in skillet & heat over medium heat until heated through. Stir in cream cheese & ranch dressing. Cook, stirring until well blended & warm. Mix in shredded cheese & stir until melted. Transfer to the crockpot to keep warm & serve with tortilla chips.

     

    Oreo Popcorn

    • 20 Oreo cookies
    • 2 bags of microwave popcorn, popped
    • 2 c. white chocolate chips

    Place Oreos in a large Ziploc bag and smash. Heat white chocolate chips in microwave on high for 30-second intervals up to 2-3 minutes, stirring until melted. Mix popcorn & melted chocolate in a large bowl until well-combined. Slowly add the cookies & mix. Turn out on waxed paper until cool. Break into pieces & enjoy.

    After the big game, when you find yourself wishing for a media room or better entertaining space, give us a call. We will guide you to the perfect home!

     

    February
    10

    Should You Upgrade to Windows 11?

     

    Windows 11

    From Your Friends at Integrity Computer Consulting and Repair

    (If you own a Mac, this doesn't apply, your OS is updated yearly.)

    Many of us have seen the update for Microsoft's newest operating system (OS), Windows 11 come through on our laptop or desktop PC. Some of you have likely had it automatically applied.

    If you have NOT seen the update, your computer may be too old to upgrade. This is not a cause for concern!

    Anyone can stay safely on Windows 10 until its End of Life (EOL) date of October 14, 2025.

    And even then, Microsoft may offer extended support as they have done for all other operating systems before it.

    If you have seen the update, have you ignored it? You might be able to upgrade to Windows 11.  Most notably, the Windows update icon down by your clock won't go away and now has a blue dot on it (instead of an orange/yellow or red one) like this: 

     

    So should you make the jump to upgrade your current PC to Windows 11?   What will it do? What will it change? What will it break? Will it affect you much?

     The answer is, it depends. Like people on the planet, our computer environments are all different, unique. With each individual and different environment, the answer varies. It is complicated because no 2 environments are the same. But this time, Microsoft has given us tools to check.

    We recommend you take the following steps if you are prompted for the upgrade:

    1. Read about the upgrade. Is it for you?
    2. Check if your PC components can get the upgrade. Will it work for your computer?
    3. Decide if you want the upgrade or to stay on Windows 10

    (please call or email our office if you have any questions or need assistance doing any of the steps above and pictured below) 

     

     

    Our findings? Most of the PCs that have upgraded from 10 to 11 are working fine without many significant issues; however, if you have older software (QuickBooks and Quicken apply) or older peripherals like printers, wireless mice, keyboards, and speakers, they may not work with Windows 11.   We are finding that we have had to reinstall some printer and copier drivers and remap network drives. 

    If your computer is 2 years or newer, you have current software, you don't mind the change, and/or have the time/patience to learn Windows 11… upgrade.

    If you have any hesitations or concerns, please contact us before making the jump. Advances in technology can be both great and frustrating. We are here to help.

    Call our office (208-288-4345), or email us (info@integrityidaho.com) if you have any questions or need immediate assistance!

    February
    7

    The Hockey Fan's Guide to Boise

    Boise Hockey

    Whether you're looking for a hockey league to join, a place to practice on your skates, or a hockey class for your kids, Boise has a lot to offer. Our real estate agents are happy to offer this helpful guide to hockey in Boise. 

    Professional Hockey in Boise

    The Idaho Steelheads are a minor league pro hockey team based in Boise. The Steelheads played their first season in 1997-98 and have been an affiliate of the NHL's Dallas Stars since 2003. 

    Perhaps a little surprisingly, the Idaho Steelheads play in the ECHL—the East Coast Hockey League—and are the westernmost team in the league. They've won the ECHL's Kelly Cup championship in 2004 and 2007. 

    The Steelheads play at Idaho Central Arena, just outside Downtown Boise and a stone's throw from many Boise homes for sale. This state-of-the-art facility has a seating capacity of 5,002 for ice hockey games. 

    Adult Hockey Leagues

    A spacious recreation center in Southeast Boise, Idaho IceWorld offers two indoor skating rinks with numerous options for adult hockey. Several different hockey leagues are formed multiple times a year here and are largely run by Boise Parks & Recreation. 

    If you're interested in playing, you can choose between the A/Advanced League, B League, and C League, depending on your skill and experience level. A Women's League is also available.

    Keep in mind that no matter which league you choose, a current, valid USA Hockey membership is required. Opportunities for pick-up hockey are also often available at Idaho IceWorld (learn more here). As with adult hockey leagues, all pick-up players must be 18 or older. 

    Learn & Practice Hockey in Boise

    Regularly scheduled 'Stick Times' are also scheduled at Idaho IceWorld, so check their current calendar for upcoming opportunities. Stick Times offers an opportunity to practice your skating, stick handling, and other skills.

    Stick Times are perfect for adult hockey players who haven't been in the ice in a while and might be feeling a little rusty. You can sign up for sessions and pay the fee individually or purchase a Stick Time Punch Pass in advance, which is good for 10 sessions. 

    Idaho IceWorld also hosts Hockey Learn to Play (HLTP) classes for total hockey newbies. These classes are designed for kids in various age groups and include foundational skills like skating, basic hockey stance, knee bend, and how to hold a stick. 

    Youth Hockey Leagues

    A lot of exciting opportunities are available for kids in Boise who are enthusiastic about playing hockey! First and foremost are the Junior Steelheads, the Boise Youth Amateur Hockey Association's official competitive travel ice hockey program. 

    Youth Hockey Leagues are also available at Idaho IceWorld, ranging from the Mite League (ages 5 to 8) all the way up to High School League. USA Hockey membership is required, and scholarships are available. 

    The Fire Blades—Idaho IceWorld's girls' house travel team—is open to ages 11 to 19 and is a great opportunity for girls to play at a competitive level. 

    Contact us today to learn more about life in Boise and the surrounding areas. When you're on the hunt for your Idaho dream home, our real estate agents are here to help every step of the way. 

    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 9:19:06 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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