Boise Real Estate Listings: Now vs. Then

Just 15 months ago, the Boise real estate market was experiencing a severe shortage of listing inventory.

We not only had fewer homes for sale, but much of our listing inventory was phantom “to be built” homes and lingering short sale listings.

That led to multiple offer bidding wars and sales prices above asking prices in many instances.

It’s interesting to note how things have changed since then.

Here’s a comparison of our May 2013 listing inventory vs. our current listing inventory.

Boise Real Estate Listings: May 2013

  • # Available: 1,883
  • Average Asking Price: $316,824
  • Median Asking Price: $239,900

Boise Real Estate Listings: August 2014

  • # Available: 2,928
  • Average Asking Price: $315,863
  • Median Asking Price: $247,900

Commentary

  • Those numbers indicate a 55.5% increase in listing inventory, which means more choices for buyers and more competition for sellers.
  • Those numbers also indicate a flattening market with almost no change in the average and median asking prices.
  • We’re now leveling off after a huge recovery from our April 2011 “bottom”.

Data pertains to Ada County single-family homes on lot or acreage.  Data does not include condo or townhome properties.

 

Boise Homes For Sale: Photography

I see some pretty amazing photos of Boise homes for sale in MLS.

Examples include:

  • No front photo of the home.
  • Only one photo of the home.
  • One photo of the home uploaded to MLS 10 times.
  • Cars in driveways.
  • Toilet seats up.
  • Brutus the pit bull lying on the couch.
  • Fluffy the cat sitting on the kitchen counter.
  • Dirty dishes in the kitchen sink.
  • Cat box in plain sight.
  • Dirty clothes lying on the floor.
  • Window and door frames at odd angles (not shot level).
  • Hot spots caused by built-in direct flash.
  • Backlit photos (sun behind the house).
  • Dark interior photos (shot without flash/lights not turned on/blinds closed).
  • Proud owner standing on the front steps! 

Good photography is critically important to successful marketing.

That means shooting with a real camera and knowing how to use it.

Photos taken with a smartphone are not suitable for a variety of reasons, including direct flash, incorrect exposures, and poor depth of field.

That’s why I personally shoot my own photos using pro-quality Canon equipment.

I’ve learned, from experience, that I must often shoot ten shots to achieve a sharp, vivid, correctly-exposed image that I will use in my marketing.

That means shooting a lot of images to end up with enough good images to tell a compelling story about my listing.

For example, I’m now shooting a 5,200 sq. ft. custom home that I will be listing next week.

So far, I’ve shot more than 200 images during multiple visits to the property at various time of the day.

As of this morning, I have 31 stunning images.

I still have a few more shots to go and I expect to end up with about 36 images that meet my high standards.

After I get the shots I want, the next step is post-processing using several software programs and plug-ins to achieve crisp, sharp images that are accurate while avoiding over-processed enhancements.

In the end, it’s a lot of work but it’s worth it.

I have actually sold some of my listings sight-unseen to buyers who made their buying decision based  upon the quality of my photography.

 

Boise Real Estate: Telling It Like It Is

I have long practiced what I call “transparent real estate”.

I reveal everything (good and bad) to my clients so they can “see through” their real estate transaction with full disclosure and all facts on the table.

If you ask my clients, they’ll tell you that I’m their trusted advisor vs. someone who’s focused upon “closing the sale” or “getting the listing”.

In other words, I don’t talk anyone into doing anything.

Over many years, I’ve learned that it’s a lot easier to work with people who are motivated and capable than it is to convince (“close”) unmotivated prospects to act.

My clients hear both the positive and negative aspects of their proposed transaction without enduring the usual sales persuasion tactics.

If challenges arise during the course of the transaction, I share my concerns with them instead of concealing problems and pretending that everything is just fine.

It’s liberating to tell my clients the truth, educate and advise them, and then leave the decisions up to them because it removes the burden of persuasion from me.

Perhaps best of all, it allows me to face myself in the mirror without wondering if yesterday’s client will figure out the truth before closing.

Allowing my clients to “own” their own decisions also relieves me of the burden of having to convince them and keep them enthused until closing.

And, it also tends to result in a very high percentage of closings vs. sales falling through.

It has been years since I’ve had a sale fall through due to a client changing their mind!