Saturday, August 16, 2008
There were 497 homes closed in Ada County through the Intermountain Multiple Listing Service in the month of July 2008!
| Posted by Jim Paulson at 8:03 PM |
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Wednesday, August 06, 2008
When disecting the term "customer service" it is amazing what I learned.
| Posted by Jim Paulson at 3:36 PM |
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Saturday, August 02, 2008
I interviewed an agent yesterday that is thinking of moving his license to my company. He was hesitant because he is curious about the state of the industry. Here is my reply to him.
| Posted by Jim Paulson at 10:42 AM |
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It is really interesting listing to different people try to justify their price of their home these days. I just did a quick test for my own house and came up with a bunch of different answers all based on "statistical analysis".
My home is 2,980 sq. ft. in Boise with four bedrooms and three full baths on an 8,000 sq. ft. lot.
I pulled up all the homes that homes have sold so far in 2008 in our MLS in Boise which range from 2,800 sq. ft. to 3,200 sq. ft. I loved the Average List Price of $364,335. I would donate thousands to charity if I could sell my house for that! Everyone says the market is horrible, yet 99 homes have successfully completed this year in this range alone! I am feeling overconfident right now.
Wait, the median price (where as many homes selling above that price as there are below) is down to $339,900. I consider myself a "realist" so if my house was average, I would still be extremely content to sell for $339,900!
...
| Posted by Jim Paulson at 2:06 AM |
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Tuesday, July 22, 2008
People are always asking me what the market is doing in real estate and I keep saying "It Depends". Anyone that gives a quick answer to such a broad question should be dismissed immediately.
The old proverb of "location, location, location" is still true. You can look at a snapshot of just the market in Eagle and draw a very different conclusion than if you looked in Kuna. Even the nine different MLS areas that make up "Boise" will provide drastically different answers. But since my blog is based on "Ada County" the following numbers are averages for the entire county. I would be glad to research specifics if you need them.
The quick good news is that every single market segment (homes, condos, mobile homes, etc.,) showed improvements over the first quarter! For example, we sold 388 more single family homes in the second quarter than in the first. Although these numbers are still below 2nd quarter 2007 numbers, it is nice to see the ...
| Posted by Jim Paulson at 6:14 PM |
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Wednesday, July 09, 2008
Event will occur in October, but the deadline to apply for one of the 40 homes to be showcased ends this Friday!
| Posted by Jim Paulson at 3:13 PM |
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Wednesday, June 25, 2008
In these crazy days, it is critical to start asking the tough questions before you are left with someone else's problem after they go bankrupt!
| Posted by Jim Paulson at 3:31 PM |
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Saturday, June 07, 2008
As requested, I did some research on new construction vs. resale. It really isn't possible to look back to see exactly how many houses were listed as "Active" this time last year to compare to this year, so I usually base it on sold numbers. I looked at the new construction numbers and as suspected, found the largest price reduction was in the new homes.
As many people here realize, lot prices have dropped about as quick as they jumped, so the replacement cost of a new home has dropped accordingly. That coupled with the fact the new homes are sitting, costing the builders money each month with no functional utility, they are the first to get discounted when times turn slow.
The ratio of new home sales hasn't really changed much as both 2007 and 2008 ran just over 25% new home sales. Of the active listings, just over 19% of them are new homes.
In May 2007, the median sold price of a resale home in Ada County was $215,000 compared to $285,50...
| Posted by Jim Paulson at 6:36 PM |
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Friday, June 06, 2008
Would you believe you might actually be better off if you sold your home this year and bought a new one instead of doing it last year when you could have gotten more for your home?
| Posted by Jim Paulson at 7:34 AM |
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Thursday, June 05, 2008
It appears the Ada County Association of Realtors will be the first Realtor Association in the nation to lauch a major advertising campaign to utilitze the new Digital Billboards!
| Posted by Jim Paulson at 10:44 PM |
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