Do NOT Buy A Home On The Internet – Part II

(Part II of a two-part post)

By now, you should realize that you can’t determine the condition or surroundings of a property by looking at pictures.

And, you need to get answers for questions like these:

  • Has it had water damage?
  • Is it in a flood zone?
  • Has it been remediated for mold?
  • Is it under the airport flight pattern?
  • Is it next to high-tension electrical lines?
  • Is it next door to a planned industrial park?

Most MLS listings are embellished to varying degrees because no listing agent wants to mention a negative in their listing.

When have you ever seen a listing that mentions the fragrant cat pee in the carpets or includes a photo of the neighbor’s truck sitting on concrete blocks under a blue plastic tarp?

You can’t get a “feel” for the property without knowing the flavor of the neighborhood.

  • How many rentals are there?
  • How many distress sales are on the market?
  • How well are neighboring properties maintained?
  • Does the HOA have ample cash reserves?

Most importantly, you can’t see what I can see in MLS when you’re looking at homes on the internet because agent remarks are not visible to the public.

Those agent remarks often reveal details that help me determine if a specific property might be appropriate for my buyer.

Finally, do NOT buy a home on the internet without visiting the area you’re considering!

I recommend visiting the area you’re considering several times as part of your due diligence before making an offer.

Most importantly, you should find a competent, experienced, full-time professional agent and let them do your “homework”.

Pledge your loyalty to that agent by signing a Buyer Representation Agreement and let them get answers for your questions.

Need some help finding the right home?

Give me a call at (208)938-5533 or e-mail me!

 

 

Do NOT Buy A Home On The Internet – Part I

(Part I of a two-part post)

The internet is a very useful tool for home buyers.

That’s why more than 90% of all home buyers use it when they begin looking for a home.

It’s jam-packed full of information about available properties and you can review listings in the comfort of your own home.

It’s a great starting point, but the internet has limited value when it comes to finding the right home.

That’s why I say “Do Not Buy A Home On The Internet!”

Any home can be made to look good on the internet, but you must physically visit that home to see what it’s really like.

Photos can be cropped, enhanced, and altered to make them look better than the real thing.

If you don’t live here, or haven’t spent time here, you lack the local knowledge and insights necessary to interpret what you’re seeing on the internet.

Listings on websites often contain inaccurate data, including undisclosed short sales, short sales that already have multiple offers, and sold or pending properties shown as available.

I even see homes on the internet with photos of the wrong property!

(continued tomorrow)

Boise Idaho Market Stats – December 2014

Here’s a snapshot of December’s activity for Boise, Idaho real estate (Ada County):

Boise Idaho Available Homes

  • # Available: 1,925
  • Average Asking Price: $315,973
  • Median Asking Price: $249,900
  • Months’ Supply: 2.8

Boise Idaho Pending Sales

  • # Pending: 703
  • Average Asking Price: $281,878
  • Median Asking Price: $249,900

Boise Idaho Closed Sales – December 2013

  • # Closed: 594
  • Average Sales Price: $239,715
  • Median Sales Price: $198,076

Boise Idaho Closed Sales – December 2014

  • # Closed: 603
    % Change: +1.5%
  • Average Sales Price: $257,606
    % Change: +7.5%
  • Median Sales Price: $216,700
    % Change: +9.4%

Data taken from Intermountain MLS on 1/7/15 and pertains to Ada County, Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past six months.

 

Meridian Idaho Real Estate Stats – December 2014

Here’s a snapshot of December’s activity for Meridian, Idaho real estate:

Meridian Idaho Available Homes

  • # Available: 522
  • Average Asking Price: $269,927
  • Median Asking Price: $247,902
  • Months’ Supply: 3.1

Meridian Idaho Pending Sales

  • # Pending: 196
  • Average Asking Price: $260,174
  • Median Asking Price: $258,056

Meridian Idaho Closed Sales – December 2013

  • # Closed: 153
  • Average Sales Price: $246,692
  • Median Sales Price: $208,900

Meridian Idaho Closed Sales – December 2014

  • # Closed: 141
    % Change: -7.8%
  • Average Sales Price: $249,202
    % Change: +1.0%
  • Median Sales Price: $225,000
    % Change: +7.7%

Data taken from Intermountain MLS on 1/7/14 and pertains to Meridian, Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past six months.

 

Eagle Idaho Real Estate Stats – December 2014

Here’s a snapshot of December’s activity for Eagle, Idaho real estate:

Eagle Idaho Available Homes

  • # Available: 266
  • Average Asking Price: $512,536
  • Median Asking Price: $422,450
  • Months’ Supply: 4.0

Eagle Idaho Pending Sales

  • # Pending: 92
  • Average Asking Price: $448,700
  • Median Asking Price: $405,942

 Eagle Idaho Closed Sales – December 2013

  • # Closed: 47
  • Average Sales Price: $404,489
  • Median Sales Price: $344,990

 Eagle Idaho Closed Sales – December 2014

  • # Closed: 70
    % Change: +48.9%
  • Average Sales Price: $391,120
    % Change: -3.3%
  • Median Sales Price: $328,500
    % Change: -4.8%

Data taken from Intermountain MLS on 1/7/15 and pertains to Eagle, Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past six months.