Jeff Martel - Real Estate Broker - Boise Idahohttp://www.43re.com/jeff-martel/en-US2010-07-31T17:38:40ZSquarespace Site Server v5.11.5 (http://www.squarespace.com/)Great video on why Idaho is such an amazing place to live!http://www.43re.com/jeff-martel/2009/3/5/great-video-on-why-idaho-is-such-an-amazing-place-to-live.html43RE Administrator2009-03-05T18:56:56Z

]]>5 DO's every buyer should knowhttp://www.43re.com/jeff-martel/2009/3/5/5-dos-every-buyer-should-know.html43RE Administrator2009-03-05T09:30:48Z
  • Do buy in 2009... or you will definitely whine! What I mean by this is that there has not been a buying opportunity like the one in DECADES. NAR's Housing Affordability Index rose 13.6 percentage points in January to 166.8, a new record high. Houses are ON SALE NOW!
  • Do understand that the Government will Stimulate things... Lot’s of things.Governments think they can “buy” their way to prosperity... And to some degree they can “jump-start” things. But Government action by increasing money supply (or as they like to call it stimulus) has a tiny little after-effect – INFLATION. So, when the government says “ooppps” we printed to much money and this little inflation thingy isn’t looking too good – they increase INTEREST RATES. Currently interest rates are so low – the last time they were this low Leave It To Beaver was still running “new” shows... Not the reruns we’ve all become accustomed to!
  • Do understand what VALUE means. Don’t confuse value with cheap. Right now it’s very easy to be price focused – and yes you should be – but Buyers MUST look for value in a home purchase. A cheap home is just that – cheap... And they tend to remain that way. A home that has true VALUE can be purchased today at a great price that will ensure a good equity return in the future.
  • Do make a choice to not believe the electronic Cyclops in your living room.The media only can report on what has happened. They use fancy charts and graphs. They have neat touch-screens and experts that went to really, really good schools. But, at the end of the day they are reporting to you on a time lag of at minimum 60 days and more likely 6 months. The only true way to know what a market is doing is to talk to a Realtor or a Title Agent. Why? BECAUSE THEY ARE ON THE FRONT LINES. Realtors and Title Companies know about transaction volume before all others – and trust me – transaction volume is up – deals are being made. By the time the media reports that transaction volume is up for 3 months in a row... They are at least 5 months behind on calling the bottom.
  • Do buy a home for the right reasons. Homes are for you and your friends and family to gather in and to enjoy life in. Your home is not a reality show. Your home is not a bank. Your home is where memories are made, first steps are taken, and life is lived... That’s it. Pretty simple stuff – but we ALL forgot what a home truly is. A home is your connection to community, to family, and to friends. Buy a home in 2009 for all the right reasons and then we all will be better off in the long run!

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    A New Direction In Real Estate
    Jeff Martel | Broker / Marketing Director 
    7400 West State Street, Boise Idaho  83714
    Voice  |  208.860.3696
    Fax  |   888.452.5257
    Main Brokerage:     http://www.43re.com
    New Homes: http://www.NewConstructionBoise.com

     

    ]]>    Signs, Signs - Everywhere are signshttp://www.43re.com/jeff-martel/2009/2/6/signs-signs-everywhere-are-signs.htmlJeff Martel2009-02-06T20:01:02ZBuying or sellingAre you looking for the signs of a market bottom? Look around - they are everywhere. The stock market has stabilized at 8,000 - this is a baseline. The jobs market - although seemingly chaotic, is near the end of the layoff festival. Companies have over compensated and have front-loaded their layoffs to over-compensate for a tough economic climate. Housing prices have over-corrected and removed all gains from the bubble. Interest rates are the same as when Leave It To Beaver episodes were brand new! Credit is tight - but not to qualified individuals - and programs are being modified and added every day to help get credit flowing.

    By the time the media, or your friends and family realize that the housing market has bottom - they will be 6 months late. Look for the signs - don't wait for someone to tell you!

    ]]>    How to solve the Foreclosure problem - and do something good at the same time!http://www.43re.com/jeff-martel/2009/1/14/how-to-solve-the-foreclosure-problem-and-do-something-good-a.html43RE Administrator2009-01-14T13:54:44ZForeclosuresThis morning I thought of an idea that may be worth thinking about. What if we create a program for Veterans of Iraq and Afghanistan where Soldiers receive access to Foreclosed homes. What I'm thinking we do as a country is this - Homes that are going into Foreclosure can be purchased with the TARP funds. Then returning soldiers get to purchase these homes at WELL below market value using a mortgage funded by the US government - in essence the Tax payers become equity partners in these homes. These soldiers would also receive the additional benefit of not having to make ANY payments for two years. They did an incredible job for our country - WE OWE THEM.

    Now, think about this - not only did our soldiers serve us well, they can now help to stabilize our country. By purchasing these homes before they affect market values, we stabilize housing. We also provide a way for our soldiers to return home and begin life again without the financial pressures of having to make the mortgage payment for 2 years. Eventually as housing stabilizes, values will go up. The government backed loans will begin to be paid back in 2 years, and as these homes eventually get sold, the government (ie taxpayers) receive a return on investment.

    I haven't heard of a program like this, but I think if enough people get behind an idea like this we really could make a difference in our soldiers lives - and the lives of every american currently affected by the housing downturn.

    ]]>    Growth and Housing Numbershttp://www.43re.com/jeff-martel/2008/12/22/growth-and-housing-numbers.html43RE Administrator2008-12-22T15:07:51ZBuying or sellingIt is said that the United States needs to produce approximately 1 Million housing units annually just to keep up with demand. Demand comes from Marriage, Divorce, migration, immigration, etc. This year the United States has built the same number of units as in 1959. In 1959 the US had 179 million people. We now have about 310 Million.

    Boise adds approximately 8,478 new residents every year. It is projected that our population will be around 762,981 by the year 2020 (in 2006 we were at 559,095).

    What does all this mean? Well, the basic rule of supply and demand is this - all shortages are followed by gluts... and all gluts are followed by shortages. We are about to experience a massive housing shortage across the entire country. I see us having a "rush" to buy in the following 120 days. Why? Because interest rates are incredibly low now and may go even lower. We are going to be under supplied on housing once the Obama administration implements some sort of housing stimulus that will be of a huge magnitude - some say they may offer a $20,000 tax credit for buying a home. So cheap money coupled with free money and a reduced supply = housing appreciation.

    If you are trying to sell a home - hang on a little longer - things will get better for you. If you are looking to buy a home - strike now - this has to be the bottom. If you are unsure what to do - well you are in good company - there are lots and lots of folks sitting on the fence waiting for the sign to get in. It happens fast - like a light switch going on so you better be ready to move!

    ]]>    The Right Time to Buy? - Finding the Market Bottom at Holiday Partieshttp://www.43re.com/jeff-martel/2008/12/16/the-right-time-to-buy-finding-the-market-bottom-at-holiday-p.htmlJeff2008-12-16T14:12:59Z

    It seems like the general topic of discussion at the Holiday parties of late is the preverbal "are we at the bottom" conversation. I for one am excited that the topic is finally becoming part of general conversation. I told my agents about 8 months ago that things would start to get better when we start to see the media begin to print positive articles - like this one from the NY times - and when the general topic of discussion moves from how "bad" everything is to "are we at the bottom?".

    The Boise, Idaho Real Estate Market hasn't been near as bad as what has been going on in other areas - but it also isn't exactly stellar. It's probably just back to normal at this point and it is taking all of us in the industry a bit of time to get used to it. But, positive signs are all around us. Recently, the Wall Street Journal printed a large article on Real Estate (sorry I can't link to it, but I have a scan I would be happy to email to anyone interested) where the Journal specifically pointed to Boise, Idaho and Albuquerque New Mexico as the 2 places where appreciation will outpace the rest of the nation over the next 10 years! To me, that was the true ringing of the Bell that says we are at a bottom and it is time to get in.

    It is common knowledge that it is near impossible to time a bottom - by the time you know it, it already has passed. So, I can't say now is the bottom but I can say I see these 10 reasons that the Boise, Idaho Real Estate Market is at or near a bottom:

    1) Prices are truly great right now. Being December as our worst Real Estate Month (weather and holidays collide to make selling tough), and coming off 2 years of a tough market - we are at the point where prices have come down about 19% overall

    2) The Feds will be introducing a massive Housing Stimulus in the next few months - Stimulus = price increases at some point

    3) Money is cheap - it's almost a no-brainer to borrow money right now because the return on that money should outpace the interest carry

    4) New construction prices are unsustainable - what the market is paying right now is less than what it costs to build - the builders have completely stopped production so no more supply - as supply dwindles - demand will go up - thereby prices go up

    5) There is still a large in-migration of people to the Treasure Valley and Idaho as a whole - as more people come, and less product is built to meet the needs - then supply vs. demand kicks in once again

    6) I have no ability to prove it, but in talking to some of our government and economic focus folks - some large and medium scale employers ARE relocating operations to Boise, ID - They won't tell us who because it needs to stay cloak and dagger until the company itself announces so their competitors don't know what they are up to. - The question still remains as to when this will happen - but I am hoping it is soon!

    7) Boise State University has put us on the map - GO BRONCOS!!! Check out the SMURF TURF here.

    8) The creation of our new community college system all but guarantees large scale employers will be looking at our Valley with renewed interest - strong education systems = educated workers for the high-tech industry

    9) The Internet has made high-level consulting companies free to relocate to where quality of life is the best - and Boise, Idaho has the quality of life that so many are looking for - no longer do you need to live in the "Big City" - I think this technological revolution that we are all living in right now is probably the single most humankind changing event - and we get to be part of it!

    10) Transaction volume is way up in feeder states like California - As folks can get out of larger markets - they will flock to markets like Boise, Idaho - where quality of life is good, unemployment is low, crime is almost non-existent, and guess what - you actually know your neighbors here!

    So, that's my view on the current state of opportunity in our market. What do you think? 

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