I don’t have a definition as to what “low Income” means. I’m sure it means different incomes amounts to different individuals. What I am sure of, is most anyone can get Home ownership today, If you are a first time homebuyer or haven’t owned a home in the last three years you can get a home with - NO cash out of pocket - a Monthly payment as low as $380 a month …and in a couple of months you will receive a Tax Refund check from the IRS for several thousand dollars! ….and If you live in the home you bought for 3 years …you don’t even have to give it back!
 
These homes currently range from a $49000  Mobile Home on it’s own lot for $380 a month  - to a $100,000 Modern 3 bedroom 2 bath 2 car garage in town with payments of under $780 a month! Is this a great country or what! (in both cases - cheaper than rent!)
 
I have been accused of being critical of mobile homes as investments and generally speaking I would agree….However as in all generalizations there are exceptions - Here is one exception - a young couple that I know - just married and with brand new twins - are currently renting an apartment for $500 a month. He works a part time job at a convenience store and only makes $900-$1000 a month. His wife stays home in the apartment with the twins. The chances of them making any advances in career employment in the current market conditions for the foreseeable 3-5 years is not very favorable. They could buy this mobile home on it’s own lot for 50% less than the seller paid for it just 2 years ago. Due to the IHA program and the Govt. Stimulus 1st time Home Buyer program currently in effect for the next 90 days (ends April 2010) they could get into this 2 bedroom mobile home on it’s own lot - with no cash from them - at less than $380 a month payment and get their cash Refund of about $3000 to them within 60 days of filing their tax returns.
 
So… for someone in a position that the only way they can get ownership for under $400 a month …and money back…and end up in 3 years with some equity that they can either roll forward …or keep as a rental and make an extra $200 a month to pay for their twins college education in 18 years…Yea I think it is a Great Investment!
 
I heard that when they were told about it, their response was “Oh we really don’t want to live in a mobile home”  Well believe me, I above most people do sincerely appreciate that , however I wouldn’t relish living in a rental apartment either …and if given the choice of the two, I personally would take the mobile home, the $3000 cash in my pocket,  the $200 a month rent  savings, and just suck it up and cry my way to the bank. And when I got home… I would take my 1st month rent savings, and put up a swing set in my own fenced yard, and just enjoy playing with my babies until I could live better!
  
Warm regards,
 
Dale Alverson
e-Pro Certified
Certified Buyer Broker (CBB) - (Only One in Idaho)
Certified Relocation Professional (CRP) (one of 4 in Idaho)
Accredited Buyer Representative (ABR) (#70 of 54,000 USA)
 
36+ years  - Representing Clients - not Sales -
 
43 Degrees North Real Estate
www.teamboise.com <http://www.teamboise.com>
dale@teamboise.com
Direct Cell 208-863-3093
Toll Free 800-359-0855
Fax 208-338-1010

Answer + phone call = $$$$ for Buyers $$$$ for sellers $$$$$ for agents= Hero !!

Here is what happened; Early this year when the Stimulus Bill first came out, I was irritated that there was no way for 90% of 1st time home owners to take advantage of the tax rebate for purchase, as most of the potential buyers had no access to the down payment and closing costs needed to purchase. In reality the Bill while sounding good is a bust as it doesn't really help those that could use it.

After many phone calls locally trying in vain to find a path or lender that could loan the Tax Rebate ahead of timeI tried one last chance and sent an email to one of my national e-pro societies (RealTown) - asking if anyone knew of a solution. To my surprise an agent responded and gave me information about the Missouri Housing Program that had found a way to loan the potential home buyers their Tax Rebate in advance. I contacted the Missouri people and received their information and contacted the Director of the Idaho Housing Agency giving them the information about the Missouri program. I received a polite "thank you" and heard nothing more, and finally surrendered with my energy spent.

Two months later Idaho Housing announced a Tax Credit loan program that enabled 1st time home buyers to borrow $7000 of their $8000 Tax Rebate in advance.The following is from the IHA web site:

The American Recovery and Reinvestment Act of 2009 provided a federal income tax credit for first-time home-buyers of 10% of the sales price, up to a maximum of $8,000. This tax credit is available to qualified home buyers who purchase a home by December 1, 2009. In order to help buyers monetize this tax credit for down payment and closing costs when they purchase a home, Idaho Housing and Finance Association (IHFA), through its IdaMortgage lending program, is offering a special short-term Tax Credit 2nd Loan to qualified buyers.

In conjunction with an IdaMortgage loan, a subordinate loan will be offered to qualified first time homebuyers a maximum of 5% of the sales price up to $7,000, not to exceed 100% combined loan to value. A fee will be charged of $250 with $150 refunded upon repayment of the loan on or before the loan due date. The loan will accrue interest at 3.0% with a due date of July 1, 2010. The Tax Credit 2nd Loan is expected to be paid off from the borrower’s tax refund obtained through the application of the federal tax credit. Borrower must be a first-time homebuyer and qualify for an IdaMortgage loan.

Homebuyer Education is required.

Interestingly, I only become aware last week of being the entity responsible for getting this program enacted. It was a second chance meeting with the Director of Idaho Housing who happens to be the step mother of my step son who was visiting here from Florida last week. I came in the door and my son said "you were right" ....to which I said "about what?" He answered that his step mother Julie who was at our house to see him off, informed him that it was my efforts that provided Idaho with the program. I couldn't believe that I had done something so big by merely making a few inquiries through Real Town and a few phone calls to apparently the right people!

My lesson that I wish to share with everyone is "never doubt your abilities to impact a situation that you think is bigger than you no matter how insignificant you may feel your position to be. I am reminded of someone Else's famous quote:

If not you - then who? If not now - then when?

Dale Alverson CBB,ABR,CRP, e-Pro

208-863-3093

43 Degrees North Real Estate Boise, ID

www.teamboise.com

www.43RE.com

35 years Representing Clients - not sales!

I hear you - your thinking well it's not free if you have to do something to get it right? Technically your right of course but let's look at this in real life terms.

OK...so you do have to have a FICO score above 640 ...and you do have to be able to afford the monthly payments ...and of course not everyone can, however for those that can, a separate program sponsored by Idaho Housing allows you to borrow $7,000. of your next year $8,000 1st Time Buyer Tax Refund and use the funds for down payment and closing costs today!

Now let's look at an example: Lets say you qualify and you are find a nice home for $150,000. FHA lets you have a loan for 96.5% of the sales price so you will need 3.5% down payment or $5,250 Down and closing costs of about $2,500. Under normal conditions, this would require you to have about $7,750 cash at closing. With the $7,000 loan against your $8,000 Tax credit you are about $750 short of enough to close....but wait these are not normal times are they?

If we get the seller to pay your closing costs of $2,500. (not unusual in this market) you will only have to come to closing with the $5,250 leaving you about $2,600 left after you receive your Tax Refund in 2010 and pay off your Down payment loan.

Bottom Line:You get the house for no money out of pocket and collect $2,600 for passing GO...and have ownership of a home that now allows you to claim a further Tax Deduction for interest paid on your home purchase for the next 30 years.

So tell me is there such a thing as FREEMONEY or not?

Now lets talk about Really Free Money!

If you are a Veteran you can get 100% financing - again have the seller pay your closing costs and get $8000 Tax refund in 2010. - Free probably doesn't get any more Free than this!

**This amazing program currently ends in December of this year.....so now you know ...help me get the word out to your friends - family - acquaintances - anyone you might know that can take advantage of this program. You will help them - you will help the economy - If you have been looking for a way to do your part to move America forward, this is as good a chance as were going to get!

God Bless ,and Thank you in advance for your help - We all appreciate your efforts!

Dale Alverson

Certified Buyer's Agent

43 Degrees North Real Estate

Your personal Real Estate Advocate for life

Direct Cell 208-863-3093

Yesterday's result of the Federal reserve's commitment of $1.25 Trillion Dollars to buying long term treasury Bonds and buying back mortgage backed securities is a direct move to lower Mortgage Rates, as well as other consumer debt rates. This unprecedented very aggressive move, is the direct result of a major effort by the Fed to bring us out of this recession.

We don't know as of yet how low this will cause rates to go, however as of today, we are well into the 4% range, and I have confirmed a rumor that there is a local bank that will give a 3.85% 30 year fixed rate loan on bank owned property with 10% down! or 4.87% ZERO Down and NO PMI! (call me for a list of qualifying properties)

I have been saying since the start of this Real Estate bubble burst, that the answer to the problem was not Govt. bail outs to Wall Street. The answer to the whole debacle is much simpler than anyone suspects. The market would  correct almost instantly if the Govt. will put the money back into the Home lending market by providing 3% 30 year fixed financing to every qualified buyer. Maybe they will finally get it right! 

Windows of Opportunity Pass!

Caution*** People miss opportunities like the ones being presented today because they wait until the media tells them that if they don't hurry they will miss the opportunity. The problem is that by the time the media reports it - most of the benefit has passed.

This Window of Opportunity is already under pressure even as it has been created. Because spending this kind of money by the Fed - requires the Fed to print money, it also induces and greatly risks inflation. Yesterday there were early indicators that this is exactly what was happening. The cost of the Euro was 2 cents higher than on Wednesday when the Fed announcement came out. (a significant leap by normal standards)

Bottom Line: If you are waiting for a signal from on high to make a move in the Real Estate Market, DON"T WAIT ANY LONGER - It is TIME! This Fed incentive to the Housing Market will be effective at getting people out and the market will definitely heat up - and as you should know - the more people looking and buying  - the less discount you are  going to receive. Increased sales = increased inflation = less purchase power. What ARE you waiting for - Pick up the phone - Get to the Market Place - Santa has delivered -

Dale Alverson 43 Degrees North RE

35 years representing Clients!  - Not Sales-

Direct Cell 208-863-3093

What makes Debbie so Special at Open House's is her ability to relate..... and her 33 years of experience understanding the dilemma's that face people looking for a new or different places to live. Most "Realtors" see this business as a "Sales Business" when in reality it is not..nor should it be. Professional Real Estate should be a "People Problem Solving Business".

 The following account should clear up the mis-understanding between being a "Customer" or a "Client" and give you a glimpse into the life of our lives as Agents Representing Clients rather than Realtor's selling houses.

 Back to the story.....When Debbie met the couple they were interested in selling their older remodeled home that they had put a lot of money and time into making it just right.... and now they as aging Boomers were feeling like maybe they might enjoy a less physically stressful lifestyle.They came out to see some of the Patio Homes at Hazelewood Village and literally fell in love with one of the homes that had recently been reduced in price and had just been sold to another couple. The Husband liked the home as well however felt that it was too far from his employment on the far side of the town. They stated that if they could replicate the Sold Home for the same price they would be interested in going forward - Debbie made an appointment to see their home and the next week they were referred to me as a Buyer's agent and we looked at the intended home together, and again they reiterated they would be interested if we could duplicate the home for the same reduced price the other had sold for on a lot with a view of the mountains ( a difficult task)

The Monday after I met them, I called as I promised, and the Wife said they had decided that it just wasn't going to work because the house was: 1. Too far out 2. It was going to cost them $20k-$30k to upgrade and they didn't want to really spend more than their current home was worth. and 3. With the economy being so un-stable, they thought they should do nothing and just stay in their nice little home that was all paid for. ( I found out later that they had been on & off again, looking for nearly 2 years). The Wife( a lovely lady) said we were going to hate her because they were so indecisive and I replied not at all - there was a lot at stake and they should be very concerned about taking action of any kind without really understanding the options. I told her not to worry and that we would keep in touch if they changed their mind.

 Now I had a choice to make. Leave them alone making their decision based on emotion and pray for the best for them - or invest my time to represent their interest and identify their problem, and show them their options. As customers not clients at this point, we were not authorized to"Represent their Interests without a Representation agreement). - Remember: Customer = Selling.. and Agency = Representation.

 The part that bothered me wasn't that I was going to lose a sale. It was the fact that they had a do-able desire and they didn't Understand THEIR PROBLEM... and because they didn't understand that they had a problem... they couldn't possibly understand a solution. The problem that they didn't understand, was the dynamics of this market today - right here and right now! If they indeed stay in their very comfortable abode and don't change their mind after the advantages of this market have disappeared, then they did the right thing. However if a few months or a year from now, the wife finally decides she really wants a "New Home for their last home, and they try to go forward. they chance to lose the entire ability to facilitate the move.

 Here is why:

#1. They are trying to make a very difficult almost lateral move -from a $170k-$180k older smaller home to a New $200k larger home at near the same price ( a very tough task to say the least) 

#2.Today's interest rates are artificially low and at the lowest rate in my 35 year career! This abnormally low rate will not last much longer and especially with coming inflation which will affect not only the ability to buy - but the ability to sell as well-

#3. The type of home they are interested in has been reduced below the cost to build it.. and the only reason they can build it today at the under market value is because we may be able to find a developer in this market, who may consider selling a lot to us for less than he owes on it..and the bank may allow the lot sale in order to provide some debt relief. The builder will in turn offer his sub-contractors less in order to provide them a job.....and suppliers have already rolled back their prices to below 1993 pricing in order to move product. In other words, the home will NEVER be able to built for less than it can today!

#4. The type of lot they desire is the most valuable & desireable lot in any development (a rear East viewing lot with a view of the mountains). After 4 hours of preliminary research I found only 4 possible lots in the entire Valley) In a normal market they wouldn't have a chance of replacing it at $10k-$20k more- 

#5.Their home is under the magic $200k range which is the only price range that is still moving at near normal market time levels, and the ability to sell their home is at a high point of opportunity because of the Stimulus package for 1st time home buyers (this year only)as well as their price range.

#6. When comparing the appreciation advantage of a "New Modern Home" to keeping their remodeled older Home - the difference is decidedly overwhelming advantaged to the New Modern Home which should easily out distance their current home due to **functional obsolescence of thier current home. (**a term Appraisers use to adjust the value of an older home down from comparable sized newer homes)

#7. The New home will not need maintenance items for 8+ years - while the older home will continue to require more and more dollars to keep it in proper state of maintenance.

#8. Last but not least and probably the crowning factor - many if not most economists foresee a major wave of inflation in the near future as China refuses to loan any more Trillions of Dollars to the US, and the Treasury is forced to print money to pay for bloating Government Programs and Continued Government growth because they have no more money. INFLATION will likely cause Interest Rates to accelerate and the ability to purchase an undervalued New Modern Home will be ....well - history -

The choice I have to make as a professional is to decide if it is worth the time & effort to try and educate my customers to become clients so I can save them.... or if I am better off to just let them go and spend my time working with clients that are waiting to hear my counsel. As I said in the beginning - This is NOT a sales business.... it is a People Business. If your into it for the quick $$... then you should just be a "salesman" and try to sell customers before they change their mind. If your into it for the long term career, you take the time - do the research - and try to represent and educate your customers to become clients and Represent their" Best interest"...not your own. Not all customers will become clients,however, without the effort, one can only pretend to be a Professional!

 We will make a final attempt to show these customers their options and hopefully turn them into clients who trust our experience and ability to show them options that work to their advantage. The difficult part of the Boise Real Estate business at this time, is seeing people make decisions based on negative information and not realizing the advantages that are available that they may lose by not being informed.

Sales People prey on customer emotions. Realtors providing Agency should provide balance to clients emotions based on prevailing logic and past experience to try and forsee the future..and use that information for their clients best interests. In some instances it will be in clients best interst to not go forward. In other instances, it will be in their best interests to go forward. It should NEVER be about the Sale - It should be about what is in the best interest of the client period!

Dale Alverson
e-Pro Certified
Certified Buyer Broker (CBB) - (Only One in Idaho)
Certified Relocation Professional (CRP) (one of 4 in Idaho)
Accredited Buyer Representative (ABR) (#70 of 54,000 USA) 35+ years - Representing Clients - not Sales - 43 Degrees North Real Estate
www.teamboise.com
dale@teamboise.com
Direct Cell 208-863-3093
Toll Free 800-359-0855

Sorry for not getting back with you, we have been kind of watching the

market and continue to see prices drop. We have decided just to wait.

I am just thankful that I have a nice house with equity. We will keep

you posted if things start to improve with time.Thanks for your help.

Sorry to see that the house we liked so much sold but that's good for

you and for the builder. It is a beautiful house and will make a

wonderful home for that lucky someone.

Mike

Mike,

I can certainly empathize with your feelings and sense of the market. With the Media's constant advertising of Gloom & Doom and the New President saying the word "crisis" 25 times during his address to Congress, it is a wonder anybody gets out of bed in the morning!

With that said I need to make you understand the dynamics of the actual situation we are in. 1st of all we need to analyze why the President appears so negative about the economy. He needs to sell the Stimulus package and the ONLY way anyone is going to sell the American Public on a 2 Trillion Stimulus Package and a 3.5 Trillion 2009 Budget, is to make the country believe that if we don't pass it , we are a doomed Nation. Once this legislation is approved and passed you will see a more positive note coming from Washington and the Media. ...and we will see what is going to appear like a start of a recovery.

We are entering into a Window of opportunity to get into your ideal home in the next 12 months before the start of massive inflation which will be the by-product of massive deficit spending.

So here is what I believe is current Reality of Real Estate in our regional area:

Home prices in the "Starter Home Market price range of $100k- $200k have bottomed out. Homes in the $250k - $350k range are nearly bottomed out and are still soft with negotiations still a reality. Homes above $350k are likely to continue to deflate as much of the National economy.

The Boise Valley while not immune to Recession is still one of the brighter spots economically due to it's make up of largely "Service Sector jobs" In other words our economy is not linked to one or two Mega Corporations but to many smaller Service Sector jobs. People don't move to Idaho for high wages and big corporate employment. The majority of people move to Idaho to escape the big city environment for a more normal and higher "quality of life". This has been our reason for growth in the past, and will certainly be our "Silver Lining"even more so in the future, as California's economy and liberal welfare state collapses around their shrinking ability to fund all of their liberal programs.

The result of these dynamics provides us a unique window of opportunity to take advantage of the current economic conditions: Your current home being in the lower price range will stand the best chance of selling for the least amount of discount. It also stands the best chance of selling now with the Stimulus Tax Refund being appropriated by Congress at this very moment. Your move -up home will never be built cheaper than it can be today. Building materials and contract labor are at 1990 pricing. Lot prices have been reduced by 30%-50%. The bottom line and the advantage for you is that New Construction prices are as low as they are going to get. To wait for market to improve will be counter productive, and when it does, the cost of New Construction due to inflation will certainly out pace the appreciation of your existing home. Waiting is a no win situation in our Boise Valley Economy.

Inflation is inevitable due to the massive creation of debt/money which our Government does not have, nor is our economy backed by Gold. Economists will all tell you inflation is coming no question. History will tell you that with inflation comes higher interest rates to try and control it. This is why I am telling you to take advantage of all of these temporary conditions while they are still available, before they disappear.

Today you can easily sell your home with the availability of low rates and Government Tax incentives for first time buyers. (a short term window)

Today you can easily purchase a "New" current "state of the art" home at yester- year pricein a high quality area. (a short term window)

Today you can receive one of the lowest interest rates in the last 40 years. (a short term window)

Waiting is always an option, however it may turn out to be a poor option when confronted with the facts of this massive changing economy. Waiting to see the future is missing the present. Opportunity is always in the present. They say hind site is 20/20 and always easy. Foresight is for gamblers and risk takers and is always hard. Winners use hind sight for history to forecast the future - then take acceptable risks to take advantage of dis-advantaged situations.

As Professional Real Estate leaders with over 3 decades of experience, we do not have a crystal ball, however we are in the forefront - the trenches of the market - and we have the best view of the future. From this vantage point it is clear that the greatest time of opportunity is in the midst of a bottoming market - before the recovery.

At the end of the day - the bottom line is you are gambling either way. You can choose to gamble with your fear and frustration and do nothing - or you can gamble with your faith and hope and the best information available and go forward. We believe in and provide the latter - The choice is always up to you!

Dale Alverson

43 Degrees North Real Estate

35 year Career Realtor

20 year Certified Buyer Broker Designee

35+ years Representing Clients - not sales!

Free 1 Hour Consultation upon request

This is a common question that I am often asked. The simple answer is a foreclosure is a property  that title has been taken back by the lender, and is now Bank or Lender owned. The previous owner has no connection to the property. The lender now becomes the sole owner of the property and retains the sole discretion as to the offer amount they are willing to accept. There is NO EMOTION. It all comes down to the offer they have in front of them today, and if they believe they can get a better offer by waiting and incurring continuing costs in maintenance & taxes. Generally they will respond much quicker than will a short sale that can take 6-8 weeks to hear back. The other difference is in how Bank or Lender owned property is marketed. In Bank owned property, a Broker Price opinion is ordered and or an appraisal. Once those are received a sales price is established and the home is marketed at that price. If you make a full price offer you can be assured that you can actually purchase the home at the listed price.

By comparison, a short sale is a property that is delinquent and is danger of a foreclosure, however the deed has not yet been returned to the lender, and the owner is still in title. The current owner in title has made a request to the lender to take less tha what is owed in lieu of taking the home into foreclosure which can be a lengthy process taking 6 months to a year to achieve. The lender will agree in most cases to CONSIDER a short sale however will not commit to a sales price until they receive an offer and have received a Broker Price Opinion. They will in most cases not order the BPO until they receive an offer to purchase. Then while the potential buyer waits for the BPO they continue to take offers and the whole process turns into a type of silent auction where the buyers wait to hear. Often there are several offers on the property as the Listing Realtor tends to market the property at sub normal market evaluations thereby generating many offers. In the end , the best offers are tendered 1st and the rest of the potential buyers wait 6-8 weeks only to find out they did not get their offer accepted. Usually after 1-3 failed attempts, most potential buyers become discouraged at the inability to generate a home purchase and end up looking for real homes that they can actually purchase.

"Team Boise" at 43 Degrees North Real Estate,  does not recommend or encourage buyers to consider short sales as an acceptable way to purchase Primary Housing. Foreclosures are much easier to purchase and negotiate than short sales, and generally can produce better results with far less grief and confusion. We only recommend Short Sales as an option for Investors who are willing to write multiple offers over a extended period of time and pick up a few homes out of several offers. Nationwide only about 1% of Short Sale offers result in closing.

Dale Alverson is the Director of Relocation at 43 Degrees North Real Estate and is Idaho' only Certified Buyer Broker designee. Please email or call Dale direct at 208-863-3093 for answers to your Real Estate Questions and concerns about  Boise and the surrounding towns of Meridian,Eagle,Star & Kuna.

and the sky is falling & Blah Blah Blah-

Let's talk Reality V/S Realty

Boise Valley Inventory in 2009 is Down 10% in numbers and 25%+ in price from 2008 at the same time

Yes the "Media" will leave you to believe that - DOOMSDAY HAS ARRIVED - However the truth of the matter is that while the Boise Idaho market is indeed off from the anomaly years of 2004-2006, It is not that far off from the pre 2004 Boise Idaho market, which everyone agreed upon was a "Good Market" just 5 years ago. The constant onslaught of the media expounding on the negative actually makes the market worse than it is in Reality.

The truth of the matter is the Boise Idaho Valley area is still growing, which translates into lower than National unemployment rate, and is one of the more stable economic environments in the country.

It is quite true that the Boise Idaho Real Estate & the Boise Valley Real Estate in general are definitely in an abnormal over-supply condition. It is also true however that the inventory has been reduced by roughly 10% in the Boise Valley Real Estate market in the last 12 months. Unfortunately the "Media" does not focus on the positive improvement because they believe it doesn't sell. They know from past history that negative news may not be "good news" (however as unfortunate it may be), it does sell newspapers and it does increase Television viewership. Hence the negative news media does indeed control or at the least heavily influence the public's decision to purchase or not to purchase, based on the belief that what they hear and see is true. Unfortunately this influence is felt not only in the Boise Idaho and Valley Real Estate Markets - it ripples out through the rest of the discretionary spending market to a similar degree, causing the entire local economy to falter.

The Reality of the Boise Valley Real Estate Market is that it is absolutely the "BEST" Buyer's Market that we have experienced in my 35+ year career! The selection is fabulous by any standard - The interest Rates at an All Time Low 4.5% range Fixed Rate - and last but not least almost everyone is willing to negotiate a lower price by 5%-20%+ .... oh and did I mention concessions - well what do you want? help with closing costs? All of your closing costs? Refrigerator? Washer & Dryer? furniture? the car in the driveway? the dog? Name it and you have a very good chance of getting it!.... What is not to love about this Boise Valley Real Estate Market? Oh yea that's right ... "the Media" thing about the sky is falling ...blah ...blah....blah

The other significant fact being overlooked by the media and the media followship is the impact of the very unusual exuberant Winter as well as the National Economic Bad News contributing to the Reality of Sellers feelings of desperation and depression about the ability to sell their homes. Couple the above mentioned Boise Valley Real Estate Market conditions with Seller desperation/depression and you get the "Best Purchase Power" that you may witness in the next few decades. Again have you read/heard anything about this in the Media? No of course not. By the time you hear about it in the media, you will have already missed a lot of the gain and profit that are sure to come from the results of the after life return of the Boise Valley Real Estate Market.

Now let's address the unfortunate sellers predicament ...... or is it? Again what will the media tell you? Don't sell unless you absolutely have to - It's a terrible time to sell – Short Sales climbing – Foreclosures – Prices dropping with no end in sight - the sky is falling - blah blah - blah Let's again turn to REALITY - If you are a move up buyer and say you own a $200,000 home and it is time to purchase a larger home because your family has grown. If you listen to the "Media" you will stay put because you can't bear to lose all that money in a "Bad Boise Valley Real Estate Market, so you do nothing .....but lose more! How you ask? OK lets look at facts: The more expensive the home - the larger the discount. $200,000 homes are currently discounting marginally by comparison at about 5% or less than asking price. - say $5,000 - $10,000 off. Now let's look at $400,000 homes which are currently discounting 5% - 8% - say $20,000 - $32,000 off. So what if you give up $10,000 - if you get $20,000 - $30,000 off on your subsequent purchase? OK .. so let's say you have to sell the $400,000 house and give up $30,000 - that's a lot of money unless of course you are going to buy a $600,000 home for $500,000 - $550,000 Compare a savings of $100,000 to a loss of $30,000. If someone told you to sell $100,000 of bad stock for $70,000 you would probably not do it ...unless of course you knew the $70,000 could buy you $150,000 worth of more valuable stock. In other words - It's all Relative -

So who should not sell Boise Valley Real Estate? Anyone who is in a move down market is going to suffer or anyone who is not going to repurchase at a higher value should probably not sell unless they have to or can’t wait for 12-18 months for the return of the normal Boise Valley Real Estate Market.

The opportunity to make a lot of money in Boise Idaho and Boise Valley Real Estate is here now today! Within the next 12 months there will be countless opportunities to invest in your next home ... at yester-year pricing... Pre – 2004 Pricing in many cases… and at phenomenal interest rates with enormous selection for those willing to swim upstream against the media flow, and step out and take advantage of a very unusual and temporary condition in the Boise Valley Real Estate Market.

Dale Alverson is a 35-year career Realtor and the Relocation Director at 43 Degrees North Real Estate. He is Idaho’s 1^st and only Certified Buyer’s Agent as well as one of three Certified Relocation Professionals in the Valley.

If you have questions or comments about your options in 2009 in Boise Real Estate (whether to buy, sell, remodel, or just stay put and do nothing) please feel free to contact Dale at your convenience for counsel and free consultation.

Best wishes from Team Boise for 2009 – Happy Real Estate

35+ years representing Clients not Sales

43 Degrees North Real Estate

Dale Alverson - direct cell 863-3093

As a trigute to the  New Year, I would like to focus on the Good News in Boise Valley Real Estate. The numbers suggest we are near a post 2004 Real Estate Market in terms of monthly supply of homes on the market. Our supply for average price - size homes 1500 - 2500 sq ft (which comprise the bulk of sales), ranges from a 6 months supply in East Boise to 9 months supply in West Boise. Eagle has about a 12 month supply, while Meridian ranges from 10 months to 15 months depending whether you are South of the Freeway or North of the Freeway.

While these numbers are becoming close to those of the Post 2004 market in terms of supply, the silver lining is in terms of seller motivation caused by the perception of the media in general. The result is a much stronger "Buyers Market" than we had post 2004.

Another interesting statistic is that in 2004 it took about 21% of an average families income to purchase an average price home. By 2006 it took 38% of a families income to purchase an average home in the Boise Metro area. Today that figure is down below the 2003 number to about 19% of an average families income to purchase an average home. This is incredible GOOD NEWS! Not only is the ratio down to the post 2004 numbers - the ability to discount is much higher than in the 2004 market when it was a Seller's Market. Today is definitely a Strong Buyers Market.

In short it is easier today to buy a home in the Boise Valley at greater Discount with lower interest rates than in 2004 when we had a Great Market!

The only problem today is Perception which is a buyer’s ally and a seller's enemy. Simple Translation: The time to purchase Real Estate here locally in our Boise Market is NOW!

For the conservatives who wait to hear it in the Media before considering a home purchase be advised that you will spend more and get less both in terms of Home Value for your dollar and in loss of interest rates that can not sustain at today's sub 4.5% levels. A 1% difference in interest rate translates to over $23,000 in purchase power - Think about it - a 6 month delay could end up costing a conservative thinking rational person $5000 - $10,000 in purchase negotiations alone + $23,000 in Interest rate purchase power or over $28,000 - $33,000 by waiting to hear from the media that the local Market has indeed bottomed out.

Let's look at my latest two examples of Purchase power for two of my clients the first week in January 2009:
Client A purchased a New Model Home in an upscale SW Boise Community (Tuscany) 2736 SF with all upgrades (Slab Granite - Tons of Hardwood - completely landscaped, fenced, all window covering, all appliances including pedestal washer & dryer, & surrounded by common area on 2 sides) for under $300,000 with a 4.5% 30 year fixed loan. Anybody you know in the last 5 years get a deal like that? Me neither!

Client B was looking for an average family home 2000+ sq. ft. for $200k - $240k with hopefully 4 bedrooms. We looked at over 15 homes we had previously screened from 75 possibilities and came up with an unusual 2500 sq.ft. home in West Boise in a good sub. It had a sub standard floor plan but it did fit their needs with an extra 5th bedroom and bonus room that they had not expected to be able to afford. The asking price was $249k and we offered $220k. The seller was not able to accommodate our price so we looked at a build job and were able to build a 2743 sq.ft. home with $15000 worth of upgrades for $225,000 including a large lot with 5 bedrooms + a Den + a Bonus Room and a 3 car garage....and a 4.65% loan with ONLY 1.5% down. So tell me again how bad times are in the Boise Valley! I guess I'm not seeing it. but of course I'm not getting my information from the Media - I'm out creating the Good News!

Call today and pick yourself up some GOOD NEWS!

35+ years Representing Clients - not Sales!

Dale Alverson
Certified Buyer Agent
Relocation Director
43 Degrees North Real Estate
863-3093 800-359-0855

Buyers tend to make emotional attachments to properties and fail to properly analyze the pro's and con's of those properties logically. This is the main difference between using a "sales person/agent" to purchase a home versus the counsel of a Professional Certified Buyer's Agent.

Many times I have had clients get emotionally excited about a property and be ready to make an offer without considering important factors regarding the location - floor plan - predominant value of the neighborhood - and the potential for reduced or increased resale ability of the property should they unexpectedly need to sell their new purchase (due to some unforeseen event - i.e Company Relocation - Sickness - Death - Divorce - loss of job or even a new child).

It is vitally important that clients make an emotional connection with the property they intend to purchase, however it is equally important that they consider the resale ability of that property in a logical format to consider whether it is a positive or negative investment as well.

"The money you make or lose on a home happens the day you buy- not the day you sell"

I feel it is my duty as a Certified Buyer's Agent to Counsel rather than sell. Every home I show to my clients is analyzed as to Location - Floor plan - Appeal - Resale and then scored as to the comparative value of each home and how the nuances of each home may effect it's future Resale Ability. This is the difference between Representation & Sales!

I have talked so many of my clients out of making offers emotionally on homes over the years that I have been called the "Anti-Salesman" ( a Title I have become quite attached to and extremely proud of) The point is, there is no reason not to go the extra mile and find a home that creates that emotional attacment for the buyers and at the same time fulfills the requirements of being considered an "Advantaged Investment"

Using the "Score Card System" to identify Advantaged Investment Properties does not guarantee a specific return, however it does identify which homes should receive greater or lesser appreciation.

Haven't we all wished at one time or another that we could turn to a Professional with extreme experience and ask them the straight question "is this home going to be the best one for me to buy out of the ones that are available" or would we be better off to wait or build? The answer to these types of questions are within the true Buyer's Agent Representation. They are not questions you should ask of a Sales Person. This is where Experience becomes vitally important as does Credability & especially Integrity. Your interests should come before the Agent's interest that you are working with. It is not about the commission - it is not about the sale - it is about what is best for you the client period.

As our old friend Paul Harvey would say "You now have the "Rest of the Story". With the click of a mouse or one phone call, you can experience Representation versus Sales. What are you waiting for?

Dale Alverson Pioneered Buyer Representation in the Boise Valley and is the "only" Certified Buyer Agent in Idaho. Dale is also the 1st Accredited Buyer Representative REBAC #70 out of more than 55,000 members. In 1990 Dale became one of only 3 Certified Relocation Professionals in the Boise Valley and today is the Director of Relocation & Certified Buyer's Agent at 43 Degrees North Real Estate.

                                       ....35 years Representing Clients - Not Sales!