Eagle Idaho Real Estate Stats – January 2015

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

Eagle Idaho Available Homes

  • # Available: 284
  • Average Asking Price: $514,238
  • Median Asking Price: $428,500
  • Months’ Supply: 4.8

Eagle Idaho Pending Sales

  • # Pending: 103
  • Average Asking Price: $455,411
  • Median Asking Price: $415,000

 Eagle Idaho Closed Sales – January 2014

  • # Closed: 38
  • Average Sales Price: $387,303
  • Median Sales Price: $350,000

 Eagle Idaho Closed Sales – January 2015

  • # Closed: 43
    % Change: +13.1%
  • Average Sales Price: $372,440
    % Change: -3.8%
  • Median Sales Price: $327,000
    % Change: -6.6%

Data taken from Intermountain MLS on 2/10/15 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 twelve months.

 

Choosing A Listing Agent: Highest Price

I’ve always been fascinated by sellers who choose their listing agent based upon which agent promises the highest sales price.

That fascination has, over many years, included numerous instances where I didn’t get a listing because I told prospective sellers the truth about their home’s value.

One of the oldest tricks in real estate is a listing agent promising the highest price to secure a listing.

That practice is called “buying the listing” in the real estate profession.

If you list with an agent who uses that tactic to get your listing, don’t be surprised when your listing agent asks you to reduce your price.

Before you list your home with an agent who promises the highest price, ask yourself these questions:

  1. Who will pay that price for my home? (it isn’t your listing agent!)
  2. What will happen if my home sits on the market unsold?
  3. What will happen if I have to reduce my asking price?

Do you really want to list your most valuable asset with an agent whose first act is to mislead you in order to get your listing?

When you encounter a listing agent who’s recommending a higher price than other agents, ask for proof of the value they’re recommending.

Consider the consequences of an unrealistic price and how it will affect your marketing time.

The thrill of a high asking price quickly fades after your home has been on the market for an extended period of time.

If you’re serious about selling, list with an agent who knows the market value of your home; not an agent who tells you what you want to hear.

 

BoiseBlog Achieves 2,100 Posts!

Boise Real Estate

 

When I began this blog, I never expected to achieve 2,100 posts.

Even 1,000 posts seemed unrealistic and impossible.

I actually began blogging before blogging was cool.

In my early days of blogging, few knew what a blog was and some thought it was a dirty word.

My initial blogging efforts, sometime around 2004, began with a crude Microsoft FrontPage site that was really just a web page that didn’t allow visitors to interact with me.

Then, I stumbled upon the SquareSpace blogging platform and used it for a couple of years until one of my clients offered to help migrate the blog to the current WordPress platform.

Since going on the air on September 16, 2006, the WordPress version of BoiseBlog has enjoyed nearly half a million visits from people all over the world.

Many of my visitors return daily to see what I have posted about, and many of my visitors have visited more than 2o0 times.

Last year, I completely redesigned the blog with a new “responsive” theme that adjusts to the visitor’s screen size/device, and implemented the latest technology for mobile devices.

BoiseBlog is directly responsible for dozens of home sales while working with clients I never would have met without the reach of this blog.

I know of no other real estate blog that has been in existence as long as BoiseBlog, nor any other real estate blog with 2,100 posts.

BoiseBlog is unique with an abundance of straight talk, no personal promotion/bragging, and the ability to search MLS listings without being forced to register.

I post most weekdays and find it easy to draw upon my past experience for post topics.

Thanks to all of you who follow my real estate ramblings!

 

Choosing A Listing Agent: Experience

There’s no substitute for experience when you’re choosing a listing agent.

Real estate is one of those professions where it’s impossible to infuse a new agent with the knowledge and instincts that can only be gained by completing transactions.

Real estate schools are useful for imparting the knowledge needed to pass the real estate exam, but they don’t teach the “street smarts” that are required to sell your home and achieve a smooth closing.

I remember what it was like when I entered the real estate profession 42 years ago.

My broker did little (nothing?) to help prepare me for the many challenges and obstacles I encountered as I dealt with my earliest clients.

I had to learn everything the hard way, and I made many mistakes along the way.

Some of those mistakes were costly for my sellers.

The real estate profession remains the same today.

In real estate, practical experience isn’t taught, it’s learned through experience.

I have often thought that it takes somewhere between 50 and 100 transactions for a new agent to learn how to become a successful agent.

That can take awhile, especially in the Boise real estate market where the average agent sells around 2½ homes per year.

Listing and selling your home is a big deal.

For most people, selling their home is one of the biggest financial transactions of a lifetime.

When you choose your listing agent, look for an agent with experience.

Ask yourself these important questions:

  1. Am I listing my home with a listing agent who knows what to do and how to avoid common pitfalls in a real estate transaction?
  2. What will happen if my listing agent doesn’t know what to do when challenges arise?
  3. Should I really entrust the sale of my most valuable asset to someone who’s new to real estate?

Most important, verify your listing agent’s experience and track record vs. relying upon verbal representations.

Ask your listing agent how long they’ve been in real estate.

And, ask your listing agent for documentation of their closed and expired listings during their career and over the past year.

You should also confirm that they have a track record of representing sellers vs. representing only buyers.

________________________________________________________

Looking for an experienced, proven, successful listing agent?

My listings SELL due to my 42 years’ experience and proven marketing methods.

I work with only a few clients at a time to ensure a high level of responsive, personal service.

No sales talk, no embellished promises; just straight talk to help you make informed decisions.

Give me a call at (208)938-5533 or e-mail me and let’s talk!

 

Choosing A Listing Agent: Part-Timers

The real estate profession is illusory.

It appears to be easier than it is.

Take a few easy classes, pass a state exam that has nothing to do with the everyday realities of the profession, lease a luxury car, and get ready for the big commission checks, right?

As most new agents quickly discover, it isn’t quite that simple.

One common illusion (delusion?) for new real estate agents is that they can dip their toe in real estate while keeping their full-time (real) job.

They can be part-timers!

Sounds ideal, but part-time real estate doesn’t work for many reasons.

One reason is that the profession and markets are fluid and ever-changing.

New laws, constantly changing market conditions, pricing trends, financing, listing inventory, new laws, new forms, and other details make it impossible for the casual practitioner to remain competent and up to date.

Responsive service is another issue.

When you list your home, you should expect your listing agent to answer their phone, return calls and e-mails promptly, and respond promptly to inquiries from buyers and their agents.

Part-timers can’t do that because they’re at work (on their real job)!

Ask yourself these two questions:

  1. How will you feel when you learn that someone bought another home because your part-time agent didn’t respond to their inquiry?
  2. Do you really want to list your most valuable asset with someone who can’t devote 100% of their efforts toward selling your home?

Listing your home with a part-time agent is almost certain to be an exercise in futility.

The irony of the part-time approach to real estate is that there’s so much opportunity that it makes no sense whatsoever for someone to approach it on a part-time basis.

______________________________________________________

Looking for a full-time, experienced, responsive listing agent?

I’m one of four Ada County Realtors® (out of 4,300) with more than 40 years’ continuous full-time experience.

Why not put my extensive experience and instincts to work to help you achieve a smooth top-dollar sale?

Thinks of me as your full-time trusted advisor; not someone who’s looking to “close the deal” and take a listing while hoping it sells.

I answer my own phone and work with just a few clients at a time to ensure a high level of personal, responsive service.

Go ahead ~ test my responsiveness by calling me now at (208)938-5533 or e-mail me.