Relevant topics about Idaho real estate and community events. Enjoy!

Darrin Jaszkowiak

An actual sign in Horseshoe Bend Idaho.

Sent in by my good client and friend Bill Rawden.

Another Record for Existing-Home Sales.

Existing-home sales rose 2.1 percent in June to a seasonally adjusted annual rate of 6.95 million units. Read more>

HUD Wins Lawsuit in land fraud case targeting seniors.

Court-ordered fund established to help consumers victimized in land scam. Read more>

Temperatures to be in the high 90's this week.

Given Boise's low humidity, higher temperatures are quite comfortable, although I would suggest scheduling "T" times in the morning. If you are new to the area or visiting the hottest times of the summer are 3:00 - 7:00 pm and it is light outside until 10:00 pm. National Weather Service >

Mortgage Rates dropped .25 percent today.

Higher Interest Rates Won't Hurt Housing

Rising interest rates, offset by a strong job market, won't slow housing sales, according to NAR Research. Read More >

Fixed Mortgage Interest rates did NOT change today.

The market actually anticipated this change several weeks ago and adjusted mortgage rates then.

Higher interest rates help the real estate market.

You probably cannot believe I am saying this but the fact is that it does help in four specific areas of the real estate business.

1. Rental property: As the cost of housing increases so do rents. Rental property is valued based on the income it produces. The higher the income the property produces the higher the value of the rental property.
2. Mid to upper end buyers: If the raise in rates is due to a strong economy (such as this one) it means that businesses are more profitable and employment is higher. So even though the cost of money has risen slightly the buyer’s confidence is much higher. Mid to upper end buyers benefit from this more than others as they are typically the business owners or are compensated based on sales.
3. Cash buyers & retirees: Higher rates mean a higher return (higher income) for those cash buyers and retirees with CD’s and stocks ( see #2 above).
4. Spurs activity: Those people who have been sitting on the fence to purchase are now more likely to act before rates increase further.

Keep in mind that even as rates change there are even more options for mortgages that keep payments low. Feel free to call me if you want more details.

Pottery Barn to Open 1st Idaho Store

Pottery Barn’s decision to locate their first store in Idaho says a lot about our local economy. They only locate stores where their research says the economy and future outlook is good. They are taking 11,000 sq. ft. at Boise Town Square Mall. Read more at the Idaho Statesman.

http://www.potterybarn.com

Are you in 1031 exchange in need of an investment property?

You may want to consider a single family home as part of your rental portfolio. I have found that executive rental homes do very well and require little in terms of management. As an example this home in Eagle rents for $1,400 - $1,450 mo.

The Latest School Reports are located within this site.

Compare schools by area , school district and more. If you are moving to the area we can prepare a special report that compares your current school district vs. those in the Boise area. Just give me a call. Download the latest reports now.

EXISTING-HOME SALES HIT RECORD IN MAY IN WHAT MAY BE A RECORD-BREAKING YEAR, NAR SAYS

Existing-home sales are likely to be slower during the second half of the year.

http://www.rismedia.com/index.php/article/articleview/6913/1/1/

Top 3 Wealthiest Counties Relocating to Ada County, ID in 2002

1. from NY New York County 12 households
2. from UT Weber County 27 households
3. from NE Lancaster County 11 households

Ada County Projected Growth Rates

• 2000-2015 - 13%
  
• 2015-2020 - 2.47%
  
• 2020-2025 - 5.31%

Read more

Boise Annual Inflation Rates

• 1991-1992 - 4.9%
  
• 1992-1993 - 4.8%
  
• 1993-1994 - 3.7%
  
• 1994-1995 - 4.4%
  
• 1995-1996 - 2.3%
  
• 1996-1997 - 1.6%
  
• 1997-1998 - 3.3%
  
• 1998-1999 - 2.9%
  
• 1999-2000 - 4.8%