Idaho Market Update

The number one question we are asked is, “How is the Market?”   Our clients and those thinking about making a move here in North Idaho are always interested.   Is it a good time to buy? Sell? Build? Invest? 

It’s one of our favorite discussions.  Real Estate is dynamic and markets are always changing. There are numerous factors that impact the the Real Estate Market here locally.   Digging deeper and staying abreast of the key factors that effect our local market is our job.  Considering national and local trends along with evaluating key factors will have an impact on how we answer that question… How is the Market? It all depends on what you want to achieve.   

At Windermere, we are fortunate to have our own Chief Economist, Matthew Gardner.  He is an amazing resource and here is his report on our Idaho Market.   

The Gardener Report

 

“In Northern Idaho, Shoshone County experienced a 17.9% increase in sales over the third quarter of 2018. There was a modest increase in Bonner County and a very slight contraction in Kootenai County.” Matthew Gardener

 

 

 

Interested in knowing how this market will effect you in one of North Idaho’s 5 Counties (Kootenai, Shoshone, Bonner, Boundary or Benewah) for buying, selling, investing or building?   Connect with us her or find us on one of our social sites and we will be happy to discuss our market and how it will impact your Real Estate goals. 

 

 

John & Tracey Tindall Professional Agents

www.johnandtracey.com
John & Tracey Professional Agents
JohnandtraceyCDA
Tracey Tindall
Our Blog
Keeping it Real Estate with John & Tracey

 

 

 

 

 

 

 

 

 

 

 

 

Johntindall@windermere.com     208-818-2365

traceytindall@windermere.com   208-818-2365

Windermere, Coeur d’Alene Realty

1000 Northwest Blvd

Coeur d’Alene Idaho 83814

Posted on November 5, 2019 at 10:59 pm
John and Tracey Tindall | Category: Market Update, Real Estate Trends | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

12 Mistakes That Can Derail Closing Day For Buyers

Buying your first home? Maybe you have done this before and just assume lending is pretty straight forward? Avoid these common mistakes that can blindside a buyers mortgage and closing day!  

Lending is a complicated business with a number of moving parts and many rules that can make the difference between a happy closing day or no home at all.   There are so many things that can effect your loan process and your road to a successful closing day.  Here are just a few of the most common mistakes that buyers make.   

 

Here are a few more things to avoid so that you can keep loan and purchase on the rails through to closing day!  

Big Purchases on Credit. It is tempting to buy the furniture for your new home or a new car for the garage before the sale closes. Take care if you are making these purchases on credit. Large purchases on credit can have a major impact on your credit profile which effects your mortgage application. It’s a better plan to wait until after closing or pay cash for these transactions or you may be putting that furniture in a different living room than you originally picked them out for.

No 90-Day Same as Cash! Many times you may be tempted to make a furniture or appliance purchase for your new home. Often these can be done now and no payments for 90 days or even longer. Don’t be fooled. These purchases still affect your credit and can destroy your loan process. Remember, just a small change in your credit picture might be just enough to keep your loan from moving forward.

IRS, State and Local Liens. You’ve heard the old saying “Death and Taxes”.  Back taxes and liens can derail your attempts to get financing for a mortgage so be sure to have your books in order before filing your loan application. There are a number of searches done against your social security number just before closing and this is where liens against you sometimes appear, even though they are NOT on your credit report.

Changing jobs, become self-employed or quitting a job. Changing jobs will change the qualification basis and if you move into a different line of work or take a lower paying job, this may disqualify you from moving forward with your purchase. Also going from an employee to self employed changes everything. Of course you need a job so don’t quit yours.

Don’t Spend your Money!   Especially your funds set aside in your bank account for your closing day.   Often these funds need to be on deposit for a couple of months to be “seasoned” and allowable for your purchase. If you spend it, you may have problems having new funds seasoned in time for your closing day. Also many times your loan will require a certain amount of “reserve funds” in your account and trying to get those funds into your account at the last minute can be catastrophic.

Large Deposits. You would think more money is a good thing, right? But large deposits are handled differently and require sourcing, which can get complicated. Always ask your loan officer before you make a large deposit.

Changing Bank Accounts. You will not want to change bank accounts during the loan process. Making a move like this will change your financial picture and quite possibly slow down the process or cause your loan to be denied.

Never Co-sign. Don’t do this for anyone during the loan process. Co-signing will not only change your credit picture, it will also change your debt ratio. The smallest change in debt ratio may ruin your chances for a loan approval.

Late Payments, Missed Payments. Credit Inquiries. Of course pay your creditors on time and avoid having your credit report pulled during the loan process. Late or missed payments will decrease your credit score and so will excessive credit report inquires. Sometimes just a few points on your credit score make the difference between a happy closing day or no closing day at all.

Overpaying. Before your bank will approve your mortgage they will appraise the home you are purchasing.  If they feel you are overpaying they are likely to decline your mortgage application. If you find yourself in this situation consult with your agent on renegotiating your offer to be more in line with the bank’s appraised value.

Purchasing too close to Foreclosure. If you are making an offer on a house which is facing foreclosure be sure to have a closing date set before the foreclosure date. Have your agent work with the lender to structure closing before the house goes back to the bank and into foreclosure

Comprehensive Loss Underwriting Exchange (CLUE). CLUE is a database of insurance claims for both people and property.  Your home insurance rates are determined by the information about you and the property you plan to purchase which is contained in this report. Past claims for water damage, falling trees and even dog bites from present and past owners can multiply your insurance rates. Consult your agent about the CLUE report for your future home as soon as possible once your home purchase offer is accepted.

As always, work closely with your lender. Share everything with your loan officer so they can navigate through the process and guide you through the rough spots and onto closing.  It’s better to know about potential issues up front and not be surprised just before closing with bad news.  How a great loan officer helps you! and Other missteps that keep you from closing.

 If you are just starting the process and want to know more about how the buying process works, connect with us.   We will be happy to meet with you and walk you through the buying process, help you find a lender and get you on the path to home ownership.

johntindall@windermere.com 208-818-2456 traceytindall@windermere.com 208-818-2365

Posted on October 9, 2019 at 11:34 pm
John and Tracey Tindall | Category: First Time Home Buyer, Helpful Tips | Tagged , , , , , , , , , , , , , , , , , , , , , , ,

Four Reasons to Sell This Winter

Maybe Winder is the best time for you to consider selling?

With Demand remaining high in our area combined with low inventory which continues to drop, this winter might just be a great combination of factors making it an ideal time for you to sell. 

A balanced market will sit at six months of inventory.  Less than six months of inventory and you start heading into a sellers market.  Lower the inventory the greater the sellers market.   In Kootenai County, our inventory sits at less than 3 months in most price sectors.  A large number of price sectors are sitting at just one month.   Low inventory with high demand will increase market values and your list price.  Interest rates continue to remain low which continues to create a tremendous amount of buyers.      

Winter is often thought a difficult time to sell, but in this buying climate it creates a perfect storm for selling!  In the winter months there is even less competition and this increases demand even further.  Buyers out looking in the cold and snow are much more serious buyers too! 

If you are interested in knowing more about the inventory levels in your neighborhood or more about our market and in determining your next step, let’s connect, we would love to assist in keeping you up on the market.    

 

 

Let’s Make Awesome Happen

Team Tindall

 

John and Tracey Tindall

Windermere, Coeur d’Alene Realty

208-818-2365 or 208-818-2456
Posted on December 12, 2017 at 11:19 pm
John and Tracey Tindall | Category: Real Estate Trends | Tagged , , , , , , , , , , , , , , , , , , , , , ,

Radon, A Five Letter Word!

What is Radon?

If you are buying or selling a home, Radon might not be on your radar, but it should be!   Learn more about Radon,  and what you should consider before you sell your home or buy your next one.

Learn more about Radon with John and Tracey 

Let’s Make Awesome Happen!

John and Tracey Tindall 

Windermere, Coeur d’Alene Realty 

208-818-2365 or 208-818-2456

Follow us on:  

Posted on September 29, 2017 at 1:05 am
John and Tracey Tindall | Category: Helpful Tips, Keeping it Real - With John & Tracey, Services for Buyers and Sellers | Tagged , , , , , , , , , , , , , , , , , , , ,

What documents to keep and what to toss?

Tax time again and a mound of documents and not sure what to do with it all?

Hopefully you made it through another tax season and found all of your documents needed to file your return.  Now, what documents do you need to keep and which ones should you toss?   Here’s a little guideline which will help you with clearing out the old paperwork, but not throwing away anything that you might need later.

What to keep and what to toss?

 

John and Tracey
Keeping it Real…Estate

John and Tracey Tindall

208-818-2365 or 2456

www.johnandtracey.com

johntindall@windermere.com

traceytindall@windermere.com

Posted on April 18, 2017 at 6:13 pm
John and Tracey Tindall | Category: Helpful Tips | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Best ROI when Updating Your Home to Sell

Thinking of selling and want to spruce up your home before hitting the market?   Surprisingly you should think small when making renovations and updates for the best ROI.

If you are like most of our clients you may have a laundry list of things you believe you need to your home before you sell it.  Some of the things may be costly and in the end will not improve the sale-ability of your home or even provide a good return on your investment investment.     Here are some tips to consider:

If you are thinking of selling , lets meet up and we can work with you to develop a plan for success.  The right improvements to increase the sale-ability of your home while being kind to your finances.

How to contact John and Tracey

John Tindall: 208-818-2456   johntindall@windermere.com

Tracey Tindall: 208-818-2365  traceytindall@windermere.com

Click here to learn: More about us!

Posted on March 16, 2017 at 11:07 pm
John and Tracey Tindall | Category: Home & Projects, Listings & Selling your Home | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

January’s Market Update – Is this a good time to sell?

Is this a good time to sell?

Here is your housing snapshot for January 2017  showing an increase of 10% in median home prices and time on market down 5% in Kootenai County.   If you are a seller who is on the fence about putting your home on the market, this snapshot is a good indication that this might be a very good time for you to sell your home.

A market offering higher median home prices,  shorter closing time frames and less inventory will give sellers who decide to list now have some real advantages especially this time of year.

Listing your home before the masses who wait for better weather in April and May can give you the edge for success.  Low inventory combined with a large number of qualified buyers creates competition for your listing.  Many buyers have already lost out on another home and these buyers are ready to pounce once your listing hits the MLS.  Homes that are show ready and priced right are garnering multiple offers at full price and often offers over full price!

If you would like to be kept up to date on the market or know more about selling your home or the value of your home, contact us and we will be happy to provide you with a customized market analysis.

 

Kootenai County Snapshot for January 2017

 


 
Johnandtracey
John and Tracey
Your Professional Agents

 
208-818-2365 John         johntindall@windermere.com        
208-818-2456 Tracey     traceytindall@windermere.com
Website                               www.johnandtracey.com

 

 

Posted on March 3, 2017 at 6:08 am
John and Tracey Tindall | Category: Costs and Spending | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Considering a Remodel? 4 Points to Consider

Thinking of remodeling your home? Maybe you are looking for a home to buy that might need some remodeling?   To Remodel or Not… 4 Points to consider when taking on a remodel project and understanding the benefits and challenges.

As with anything in life, a remodeling project can come with its ups and downs. Certain phases seem to go a mile a minute, while others feel like they’ve lasted a lifetime and a half, all while it looks as though nothing is being completed. Fear not — this is pretty typical. And, while every project is different, a good portion of renovations have four major phases, what I’m calling the Honeymoon, the Midproject Crisis, the Renewal of Vows and the Happily Ever After.

For now, let’s take a closer look at the Honeymoon phase of renovating….read more

 

Honeymoon 1: Homegrown Decor, LLC, original photo on Houzz

 

After weeks of searching for a remodeler in your area, calling references, checking out their Houzz profile and working toward an agreeable price, you say, “I do,” sign the contract, finalize the design and begin work in two weeks. There’s a little nervousness in the air, but as you enter the Honeymoon phase, the mood is mainly one of excitement.

 

Demolition Begins

A couple of weeks go by, and the day comes for work to start. Protective products are placed, and demolition begins. Demo, sweet, demo. Normally one of the quickest moving stages of a remodel, demolition makes it look as if a lot of work is being done practically overnight. Cabinetry is removed, walls are torn down, appliances are taken away and, in a matter of days or weeks (depending on the size of your project), you’re staring at a blank canvas.

After that, any necessary framing and structural work will begin. Framing usually isn’t as exciting or fast-paced as demolition, but still, there is visible progress almost daily. At this point, you and your partner are walking on air. The rate of work is astounding, and you’re still very excited (although maybe a little less nervous now) about the entire project…..read more

Posted in Houzz.com by Houzz.com

 

 

Posted on February 18, 2017 at 7:23 pm
John and Tracey Tindall | Category: Home & Projects | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Life on the Lake

Hacked By GeNErAL

Posted on August 1, 2016 at 7:46 pm
John and Tracey Tindall | Category: Best of CDA, Life on the Lake, Things to Do and See in North Idaho | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

June Snapshot – Kootenai County!

Summertime in North Idaho and our market remains Healthy! 

Have any questions about buying or selling? Wondering if its the right time for you? Contact us and lets discuss it and let us provide you all the information you need to make an informed decision to move forward or to wait.  We are here to help! 

 

 

Johnandtracey-June 
 

Johnandtracey

John and Tracey
Your Professional Agents

 

 
208-818-2365 John        johntindall@windermere.com        
208-818-2456 Tracey     traceytindall@windermere.com
Website                         www.johnandtracey.com

 


 

Posted on July 11, 2016 at 5:36 pm
John and Tracey Tindall | Category: Real Estate Trends | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,