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Tuesday, June 28, 2011
5 Quick Steps for getting that listing.
Posted by Bob Bass at 6/28/2011 8:45:00 PM
Wednesday, June 22, 2011
There has been much confusion as to where housing prices are headed. We have actually blogged on the issue recently. Today, we want to give our opinion on this subject for the short term.
Posted by Bob Bass at 6/22/2011 7:08:00 PM
Tuesday, March 22, 2011
Bottom Line There are more and more studies being done on the value of homeownership. We think we will trust in what our parents and grandparents said. Your mortgage payment is money you put into your savings. Your rent payment goes into the garbage.
Posted by Bob Bass at 3/22/2011 7:56:00 PM
Saturday, February 26, 2011
Today was one of those exceptional days when I was able to sit down and read some of my feeds. I was real lucky today to have one come in from Steve Harney. I also enjoy reading Steve’s email‘s because it usually applies to our market place in one way or another. He emphasizes as Realtors today we have a great opportunity in front of us, and he is so right. In our own Valley there is a mounting consumer confidence as it pertains to Real Estate. We are having great traffic in our open houses, we are getting more showings on our listings, and we are enjoying once again working with multiple offers.  Nationally, Trulia is getting more home searches; Banks are saying they are seeing activity back to the levels of the Tax Credit days. The National Association of Realtors (NAR’s) pending Home Report which reports on homes going into contract has seen an increase 5 of the last 6 months. We discussed in our office meeting a few weeks ago by looking only at the Active Single Family Detached Homes (which is the majority of homes selling in our market place) you can see those inventory levels dropping in to a 4 month supply. That folks is a normal real estate market. We truly need to keep this positive momentum going. Whenever possible, start conversations about how the market is changing for the better; talk about the market stats we reviewed in our office meetings, go over the pre-appointment slides you carry on your smart phones of John Paulson comments, Wall Street Journal comments, etc.   Create conversation about the uptick in the buyer activity, espouse the benefits of homeownership. If we don’t who will? If you are not sure of what to say or how to say it set an appointment with me, I’ll help you!

Let’s turn this market around!

Posted by Bob Bass at 2/26/2011 4:33:00 PM
Wednesday, June 30, 2010
In real estate, referrals are the name of the game. Ask most agents and they will tell you that 95% of their business comes from past clients or referrals. So how can you get referrals for free?
Posted by Bob Bass at 6/30/2010 5:28:00 PM
Friday, November 6, 2009
Be the first to let your CRM know! Read the details
Posted by Bob Bass at 11/6/2009 6:48:00 PM
Friday, October 23, 2009
JohnLScott.com continues to increase the consumer friendly tools
Posted by Bob Bass at 10/23/2009 9:58:00 PM
Thursday, October 22, 2009
JohnLScott.com Traffic Report - September
Posted by Bob Bass at 10/22/2009 11:13:00 PM
Tuesday, October 13, 2009

Why Buy a Home Now in Boise or Nampa Idaho!

 

This question is asked all the time in the office.  Well I can go into great detail or I can give you the short version.  So I’ll give you both.  First the short version, then back it up with your clients detail if you need it.   You can use either one what ever suit you.  However, just use it. 

Short version:

            1.    Closed sales in Resale Home and New Homes  are increasing. 

            2.    Thus there is a market decrease in available homes in Ada and Canyon Counties of 30%.  There is 2199 fewer home to choose from since January 2008.

            3.  The good buys are going away.

            4.  Interest Rates are going to increase weather you like it or not.\

            5.  If you don’t ell your clients these fact and convince them of the urgency then it will take you longer to find them what they want and they will have to pay more for the same home with a higher monthly payment.

 

Long version

 

I had an agent asked me a very good question.  “How do I get my buyers to see the opportunity in this market?”    She said “they really need to buy!”  I had to lean back in my chair glance at the computer and thin to myself.  Yes, we have been talking about this?  Buyer really needs to buy now. The questions should be how do you get them off their ___ and out looking at homes.  So I told her to tell everyone you know or everyone that you meet this! 

 

Well let’s look at the numbers.  Ada County Available Homes! 

Available single family resale homes in Ada Co. are down to 2852 units from a high of 3552 in July of 2008.  This is a decrease of 700 units.  That is a net decrease of 20%.

 

Available single family new homes in Ada Co. are down to 469 units from a high of 1225 in Jan of 2008.  This is a decrease of 756 new home units.  That is a net decrease of 38%.

 

This is a combine decrease in the Ada county market of 30%.

 

Canyon County Available Homes! 

Available Single Family resale homes are down to 1403 units from a high of 1681 in January 2008.  that is a decrease of 278 units.

 

 

New homes are at 188 units down from 653 units in Jan. ’08. That is a decrease of 465 units. That is a total of 743 fewer units available in Canyon Co. or a 32% decrease.

 

If we combine both Counties Ada and Canyon counties there are 2199 fewer homes to choose from.

 

Now those are some serious numbers, to build a case for the stabilization of the Boise, Idaho, Nampa, Idaho, Ada County, Canyon Counties, and Treasure Valley market.  No matter how you put it.  Our real estate number just continues to climb back up.  So I asked her to condense these numbers and post them on her social media sites.  Have a seminar, a coffee get together. Do anything to get your word out.  Don’t let your sphere of Influence miss out on all the good deals.  They are disappearing fast!  They will only be replaced very soon with higher priced homes.  

 

Another reason to buy now is the “Stars are in alignment “for higher interest rates.  85% of new mortgages are guaranteed by Government backed entities. (FHA, FNMA, GNMA, Freddie Mac.)  the fed buy 80% of these government backed securities.  There are only 3 Banks that are originating home mortgages.  Wells Fargo, J.P. Morgan Chase, and Bank of America. They are just immediately packaging these mortgages and selling them off to (FHA, FNMA, GNMA, Freddie Mac.)  And hold very few of them on their own balance sheets.   In fact the 3 dominant banks held 3.5% fewer mortgages on their balance sheet in the first half of 2009.  The fact the banks are not willing to hold the mortgages for their own investment show that the interest rates for these mortgages are artificially low. (Driven Down by The Government Purchases of These Packaged Mortgages.)  Now that is good business for a bank.  If look at a local Boise Bank who has portfolio there own loans and not sold them to secondary market you’ll see they have consistently had higher interest rate on their home loans  Washington Federal Savings and Loan you see they have not followed the other banking establishments with lower interest rates. .  Now this has made the some of their clients holler about refinancing, but it go to show the rates are synthetically low. So what is the real alarm?  The Federal Reserve’s $1.25 Trillion special program to buy FANNIE MAE AND Freddie Mac securities is 2/3 complete and schedule to close at the end of the year.  So the money is going to run out.  In the past capital for mortgages came from came from mortgaged backed securities funded by investors through Wall Street.  This type of security is now dead.  Investment by private capital ( Banks, Investors pension funds will only happen if interest rates are allowed to increase to a level where the investors can see making money.  That level is not what we see today.  You add this with inflations and you have a strong recipe for higher interest rate following the 4th Qtr of 2010.

 

So in my discussion with her and you is.  You need to get the word out.  If the number one reason someone needs to buy today is to get a good deal, them they need to buy now.  The inventory is going away and interest rates are going no where, but up

Posted by Bob Bass at 10/14/2009 4:43:00 AM
Monday, October 5, 2009
The future of Real Estate: We always ask all of our superior agents that we have here at John L. Scott BOI before we venture out on to new endeavors, and we are looking to you again for your input as we are starting such a journey now.
Posted by Bob Bass at 10/5/2009 6:57:00 PM
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