Monthly Archives: July 2017

Coeur d Alene Idaho June 2017 Single Family Home Market Report

Coeur d Alene Idaho June 2017  Market Report

177 Single family homes closed in the Month of June 2017

Monthly market report for Coeur d Alene Idaho

New Construction about the same in Volume but prices are up about $10 per square foot.

16 New Construction Homes for 2017  (6 of them in Coeur d Alene Place mostly built by Greenstone) The Trails saw a couple of them  built by Architerra and the rest were scattered between builders Benway, Hallmark, Rosenberger, Daum and Aspen.  The new construction averaged 161 days on market and sold for an average of $154 per square foot.

15 New Construction in 2016 averaged price was $143.76 per square foot with an average days on market of 146.

Existing Homes Sales units sold is up some and prices are up substantially .

112 Existing residential Homes  that were in  non luxury home neighborhoods.  2017 June had a total sales price of $30,982,600.   Those existing homes averaged $152.77 per square foot with an average days on market of 54 days.  They averaged on lots of .23 acres.

Those 112 homes sold for $149,399 less than asking price.  So for all of you that are asking how low can I push those sellers down that breaks down to $1333.91 below asking price on an average.  So the answer to that question really is no if you want the property.  As I look down the list of the homes sold there are really only a handful that came off asking price a lot of them are over asking price.   So take that into consideration as you are figuring your negotiations.

2016 Had 100 existing homes sell with an average price of $115 per square foot.  Lot size averaged out at .23 acres with an average days on market of 74 days.

 

Luxury homes on larger lots Units sold holding steady prices are up about $50 per square foot.

2017 we had 3 homes that I consider Luxury priced homes that are not waterfront properties.  These homes average being on a lot size of .42 with an average days on market of 37 days and sold for $282.71 per square foot.

We had 3 homes also in 2016 averaging $237 per square foot.  Lot size averaged .34 of an acre and days on market was an average of 329 days.

How inventory affects prices

Homes on Land Prices are down a little Units sold are holding steady.  This was also a trend that I saw in Athol for this month over last year.

Homes on less than 2 acres and at least close to 1.

2017 June 2 homes on less than 2 acres.  They averaged being on 1.87 acres and sold for $129 per square foot average days on market was 73 days.   One was an older 1974 build in Indian Meadows and the other was a 2006 build.

2016 Had 2 homes also sell in this category averaging $160 per square foot.  Condition of home and location had these numbers up.  Average days on market were 167 days.

Homes on 5 Acres

3 Homes for June 2017 in the 5 acres range.  They averaged being on 5.3 acres homes sold for $177.90 per square foot and averaged 58 days on market.

4 Homes on 5 acre lots for June of 2016.  Those homes averaged $183 per square foot and were an average of 74 days on market.  Average size of lot was 5.1 acres.

Homes on 10 Acres

2017 Had 4 Homes on 10 acres.  They averaged being on 10.63 acres selling for $162.95 per square foot and average days on market of 75 days.

We had 1 home on 10 acres for 2016 it averaged $228 per square foot.  Home was built-in 2003 and was on 10.17 acres.

Homes over 10 Acres

2017 gave us 2 of them.  A 1993 build on 16.88 acres that sold for $135 per square foot.  Days on market was 57.  And a 32 acre home that did sell for 1,000,000 averaging out to $270 per square foot was on market for 335 days.   That home was built-in 2003.

2016 also gave us 2 homes over 10 acres.  One was a  1971 build that was on 14.51 acres  that went for $161 per square foot and the other one was a 25 acre parcel with a 2004 built home  that sold for $259 per square foot.

Manufactured Homes on Leased lots units sold is up and prices are up tremendously.

2017 June we had 8 of them averaging 54.28 per square foot.

2016 had 5 units sell with an average sales price of $27.52.  Days on market were an average of 48 days.

Condos and Town Homes Units sold is close to holding steady and prices are up about $22 per square foot.

2017 June gave us 15 Condos selling total.  14 of them averaged out at $166 per square foot.  Days on market was 78 days.   And the 15th condo was one on Parkside Condominiums for $845,000 that averaged $362 per square foot with days on market of 172.

2016 June condos we closed on 18 units with an average sales price of $140.70 and an average days on market of 70 days.

Waterfront

Secondary Waterfront has nothing to compare to this month with last year.

Secondary waterfront homes We had 4 of them in June, 2017 with them averaging $198.55 per square foot average acreage size of .72 acres  and an average of 90 days on market.  This category this month included a couple of Harbor View homes, a Black Rock home and a Falls Bay home.

Lake/River Front Our Units sold is up and Prices are up quite a bit for the most part.  I leave that open to interpretation as our water front is so diverse.

Actual Water front Homes we had 6 homes selling this month of June 2017.  Average acreage size was  .58 acres.  That s a little skewed as we have a Coach Lane Estates Riverfront in here this month on 2.2 acres.  Not that I would expect the acreage to matter that much on these as we have very similar  price per square foot comparing that one to several other lake front properties on Lake CDA.  Average sales price on these was $317 per square foot.  That includes our low of a Harbor Island and a Sanders Rockford Bay area at $273.per square foot to the Coach lane Estates at $336 per square foot.   Haners Lake shore Lots was the most per square foot at $355.

 

2016 Had 4 waterfront homes close in June.  Our average is way off as we had a  Sunnyside Lakefront 10 acre parcel that went for $625 per square foot.  We had 1 river front go for $326 per square foot and then a kidd Island bay at $245 and a Knowles Country Estate one for $186.  To average that for you is going to appear that prices are down as they average at $389 per square foot but that would not be a fair analysis.

 As usual when you consider these numbers you want to take condition of home into consideration and location.  These numbers are created for you as an average and to give you a basic place to start.  If you would like a more precise number  please contact me for your own personal market analysis or you can request one here also.   My Home value.

 

Any neighborhoods you want specific sales info on please do not hesitate to Contact me and request it.

Hayden Idaho June 2017 Market Report

Hayden- Hayden Lake Home sales for the Month of June.  67 Single family homes sold in June of 2017.

How that breaks down for you this month is:

New Home Sales are about a wash price wise due to a change in builders.  Units sold is down a few homes also.

2017 had 6 New homes –   3 in Gianna Estates a couple in Hayden Grove and 1 in Lauren.  Those homes sold for an average of $150.85 per square foot they averaged out being on a .20 size lot. and spent an average of 169 days on market.    Looks like there was a couple that were put on late so it looked like they sold faster than they were built.  I am going to guess your build days are going to run in the 200-250 days mark just fyi.

2016 had 8 new homes constructed and they averaged $154 per square foot.  Different builders between these 2  years so I am not going to tell you prices are up or down in this area as we had Aspen homes and a few others building in 2016 that did not close in these same subdivisions for 2017.

Existing home sales prices are up!  $14.13 per square foot for the average from 2016.   Units sold  is down.

2017 Existing home sales.  32 Homes sold in the month of June in the Hayden market.  They averaged selling for $137.69 per square foot.  Average size lot was .24 of an acre and these homes averaged 47 days on market.  Thats moving pretty fast as you figure it is taking on the average 45 days for someone to get there loan done.

I do get people looking at homes asking all the time how low do you think we can make them go.  Just to give you an idea of what the difference is between asking price and sales price.  These 32 homes averaged coming down off there list price $2,165 each.  Not much wiggle room.  And frankly as you look at the numbers of the sales there is a batch that actually sold for more than asking.  So take this number with a little grain of salt.  You might be able to move something that is not super desirable or someone who is quite motivated otherwise you probably better be considering full price or a little more.

2016 had  45 existing homes sell for an average of $123 per square foot. With an average days  on market of 71 days , average lot size was .27 of an acre.

Luxury Homes on 1/2 acre or more prices up and volume is up!

2017 We had quite the range on the homes on 1/2 acre or more.  They averaged $176 per square foot but we saw quite the range from $149 per square foot up to $221 per square foot.  This market is very subjective to amenities and condition.   An example of that being Forest Hills saw the most expensive home sell in this category this month and also the least expensive.  Condition!  Location!  Very important.

Compared to 2016 3 homes selling with an average sales price of $168 per square foot.  An average days on market of 76 days.

How inventory effects prices

Homes  on land volume is up!

2017  1 acre lots  We had 2 of them selling this June   They averaged $140 per square foot and were on the market an average of 76 days. Those homes averaged 1.6 acres in size.  1-  5 acre lot it went for $150.per square foot and 1-  40 acre lot and that home sold for $167 per square foot.  Those also had short time on market 79 and 42 days respectively.

2016 had 2 homes on acreage selling.  Both 10 acre lots selling for an average price of $136 per squre foot.

Lake Front Homes volume is way up!

2017 saw 7 of those homes close in the month of June.  They sold for an average of $276 per square foot.  Average days on market was 142 days.  That number is slightly skewed as we had one on Honeysuckle that was on for 448 days.  The rest are going to balance out around the 65-75 day range.

2016 Only had 1 lake front home selling in June and that home went for $305 per square foot.  Not enough data here this month to tell you any direction on prices.

Manufactured homes on leased land  not much change from last year.

2017 June had 3 of those close for an average sales price of $64 per square foot with an average days on market of 55 days.

2016 June had 2 homes selling for an average days on market of 58 days and an average sales price of $63.26 per square foot.

 

Leisure Park 55+ community  No major update for you here.  No closed homes in June of 2016.

2017 June we had 3 of those homes close with an average sales price of $158 per square foot.  They averaged a lot size of .18 and were on the market an average of 49 days.

 

Condos are holding pretty steady right now compared to 2016.

June 2017 – 3 condos selling.  They averaged 112 days on market selling for an average price of $128 per square foot.

June 2016 4 condos selling for an average sales price of $126 per square foot.  Average days on market was 59 days.

 As usual when you consider these numbers you want to take condition of home into consideration and location.  These numbers are created for you as an average and to give you a basic place to start.  If you would like a more precise number  please contact me for your own personal market analysis or you can request one here also.   My Home value.

Any neighborhoods you want specific sales info on please do not hesitate to Contact me and request it.

Rathdrum June 2017 Market Report

Market Report Numbers are ready for June 2017 for Rathdrum Idaho!

Rathdrum June home sales Numbers are here

2017 New Home sales for the month of June saw 24 new homes close this month.  New home prices are up $6.86 a square foot from June 2016.

The 17 homes that closed in Corbin Crossing, Prairie Sky and Radiant Lake (that were not lake front) sold with an average sales price of $144.48 per square foot.    Those homes averaged being on a lot size of .178.  Those homes averaged 142 days on market to get built.   And they were pretty even 8 of them in Corbin Crossing built by Hayden Homes, 8 in Prairie sky and Radiant lake built by Benway and one lone Viking home.

Compared to 2016 of 12 new homes with an average sales price of $137.62

Radiant Lake Condos are up $26.64 per square foot.  Do note we have a different builder doing them 2017 than we did in 2016.

2017 We had 3 new Radiant lake condos that were new they were built by Blue Ribbon Builders and average $159.31 per square foot.   And they also averaged 142 days on market.

2016 they averaged a sales price of $132.67 with 171 days on market.

Radiant Lake Water front properties. Actually a wash in price.  Volume is up!

And 2017 we had 3 new Radiant Lake (lake front properties) that sold 2 built by Monogram and one built by Taku Construction.  Those averaged $166.28 per square foot and were on an average size lot of .287.  Those averaged 142 days on market also to get built and close.

2016 we had 1 built on Radiant lake with a sales price of $166.28 with a days on market of 155.

Existing Home Sales are up in price a whopping $23.52 per square foot.

2017 had 21 existing single family homes sell.  Those homes sold for an average of $142.29 per square foot.  They averaged sitting on a lot of .34 with an average days on market of 72 days.  I always get people asking how much less do you think they will take.  Just for a number to toss your direction today those 21 homes sold for a difference of $40,024 between the 21 different homes so that means each home averaged coming off its asking price by $1905.90.  Just food for thought in this market for you.

2016 Existing home sales  there were 16 homes sold for an average sales price of $118.77

How inventory effects prices

I like to break Twin Lakes Village out of these numbers and Golden Spike.  So…

Twin Lakes Village is really nothing to compare to for last year.  We had all condos sell this month for 2017 and last year we had town homes sell that were on land.

Twin Lakes Village had 6 condos sell the month of June 2017.  They averaged a sales price of $98.80 per square foot with an average days on market of 81 days.  They also averaged a price difference of an average of $2116. less than the asking price.

Golden Spike sales price is up $7.94 per square foot.  Volume is the same.

Golden Spike had 4 homes selling in the month of June 2017 those homes averaged $125.59 per square foot with an average days on market of 82 days.  They sold for an average of $1696 less than list price.

2016 we had 4 homes close and they average $117.65 per square foot.

 

Manufactured on rented lots.  Up for 2017 $7 per square foot.

One Manufactured home on a rented lot for 2017.  It sold for an average price of $35.50 per square foot was on the market for 66 days and I would assume it had multiple offers on it as it sold for $1500 over asking price.

2016 June also had 1 and it sold for $28.14 per square foot.

Homes on Acreage:  Prices are up about $14.06 per square foot.  Volume is down a little on acreage.

Starting with the 5 acre parcels for 2017 we had 6 homes selling for the month of June.  They averaged $175.95 per square foot.  They averaged 243 days on market which is going to be a false high as we had a home on Bar Circle S that sat for 865 days.  And one other that was on for 318 days.  The other 4 homes are going to average right into our 75-80 days as the rest of the market has.  There was $53,325 difference in list price and sales price for these 6 homes.  Unfortunately $30k of that was swallowed by 1 house.  So to tell you there is a lot of wiggle room on these properties from list to sales price I am going to say on the average its less than 5k.

Compared to 2016 where homes averaged $161.89 per square foot.  We also had a couple of 1 acre lots sell in 2016.  We had zero in 2017.

Homes on 10 acre lots  prices are up $28.37 per square foot.  Volume is the same.

Homes on 10 acre lots we had 2 homes selling in June 2017.  They averaged $175 per square foot and were on market for an average of 230 days.  Also going to be a false high number as we had one that sat 429 days and the other one 31 days.  I think these are also going to average around the 75-80 day mark if you want to go with a realistic time on market unless your numbers are crazy.   There was $10,887 between list and sales price so divided by 2 houses your still going to be in the 5k range for supposed wiggle room.

2016 Com parables had 2 selling They averaged $146.63 per square foot and were on the market for 75 days.

 As usual when you consider these numbers you want to take condition of home into consideration and location.  These numbers are created for you as an average and to give you a basic place to start.  If you would like a more precise number  please contact me for your own personal market analysis or you can request one here also.   My Home value.

Any neighborhoods you want specific sales info on please do not hesitate to Contact me and request it.

Athol Idaho Market Report for June 2017

Athol Volume Down and in Many Categories Prices down Also!

Athol had a total if 8 homes close in the Month of June  Down from the 15 homes of 2016.  I had to check myself several times doing this market report as it doesn’t feel like the numbers are down any.  But I would say its going to bear some watching.

I  actually think I reported some of them down last month also.  I will have to go back and check.  See if we have a new pattern emerging.  I do know that an appraisal class I took last fall the instructor who was an appraiser discussed that we had already peaked and were heading down in a natural ebb and flow of the market.  Usually it is our rural area that picks up the pattern sooner than the more dense market as Coeur d’ Alene.

 As usual when you consider these numbers you want to take condition of home into consideration and location.  These numbers are created for you as an average and to give you a basic place to start.  If you would like a more precise number  please contact me for your own personal market analysis or you can request one here also.   My Home value.

Homes on 5 acre lots prices are actually a little down about $15 per square foot from last year.

2017 had 4 Stick built homes  on acreage at the 5 acre mark.  Those homes had  an average price of $152.38 per square ft.  Those homes averaged 5.17 acres.

2016 had 6 homes sell with an average sales price of $169 per square foot.  Same average of acreage.

Manufactured homes sales were up for June.

2017 2 manufactured homes on land.  They were both on 10 acres and averaged $209 per square foot.  Up substantially from 2016’s 1 home that sold for $144  per square foot.

 

Homes on 10 acre lots are also actually down a little from 2016.  Approximately $20 per square foot.

2017  1 Stick built home on 10 acres averaging $122.46 per square foot.  2016 had 4 homes selling for an average of $149.9 per square foot.

2017 Sees the homes on less than an acre actually up substantially in Athol although the volume is down.

2017  1 stick built home in town on .25 of an acre averaging $210.09 per acre.    Compared to 2016 of 3 homes selling for an average price of $145 per square foot.    Average size of those lots was .32.

 

We had no homes on larger chunks of land for 2017.  We had 1 last year on a 20 acre parcel that went for $165 per square foot.

Thinking of buying see here what your purchasing power is!

BuyersPurchasingPower

Any neighborhoods you want specific sales info on please do not hesitate to Contact me and request it.

Post Falls Idaho June 2017 Market Report

June 2017  resulted in 124 Single family homes selling.  Down a little in units sold from 2016 which sold 142 units.

 As usual when you consider these numbers you want to take condition of home into consideration and location.  These numbers are created for you as an average and to give you a basic place to start.  If you would like a more precise number  please contact me for your own personal market analysis or you can request one here also.   My Home value.

What days on market tell you

Over all sales are up Almost $20 per square foot for new construction.  Here are the results.

2017  had 13 New construction homes close with an average sales price of $139.02 per square foot.  With an average days on market of 115 days and they averaged on lots of .20 in size.  Technically 9 of those were on an average of .16 size lots and the rest were 1/4 acre lots with one coming in at a half-acre lot.

Compared to:

2016 saw 17 new homes  for an average price of $120.16 per square foot on an average size lot of .20 with an average of 135 days on market.

Existing home sales  prices are somewhat leveled out.  We are up a dollar approximately from last June in sales price per square foot.

2017 We had 100 single family existing home sales  $24,837,622 dollars worth in the month of June.  They averaged $128.35 per square foot with an average size lot of .19 and an average days on market of 83 days.

2016 home sales averaged $127.65 per square foot with an average lot size of .20 and an average days on market of 78.79.

 

We had no homes on 1 acre lots for 2017.  2016 saw them averaging $100.78 per square foot.

 

Homes on 5 acre lots are up about approximately $40 per square foot.  So some substantial growth there.

2017 Homes on 5 acres or less we had 2 sell One on 3.22 and the other on 5 with an average acreage size of 4.11.  Those homes sold for an average price of $175.94 per square foot.  With an average days on market time of 184 days.

Compared to 2016 which had 4 homes sell on 5 acre lots.  They average $134 per square foot average lot size was 5.88 with an average days on market of 66 days.

 

2017 Home on 10 acres or more.   We had 2 a 10 acre lot and a 12.4 so an average of 11.2 acres selling for an average of $170.46 per square foot and averaging 91 days on market.

Manufactured homes  are up almost $10 per square foot from last year.

2017 Manufactured homes (which are not included in your existing home sales)  We had 6 of them with only 1 not on its own lot.  They averaged $68.82 per square foot with an average acreage size of .23 and an average days on market of 72 days.

Compared to 2016 sales of 43 units on an average size lot of .11 acres that averaged $58.59 per square foot.  They averaged 92 days on market.

Curious about what you can afford?  Check out your purchasing power here:

BuyersPurchasingPower

Any neighborhoods you want specific sales info on please do not hesitate to Contact me and request it.

Once again Thank You for reading.  Hope you have a fabulous day!  Keep growing that equity.  And if your thinking of buying or selling thank you for considering  giving me the chance to help you out.

 

Spirit Lake June 2017 Market Report

Spirit Lake June 2017 Market Report

19 Homes closed in the Month of June 2017 for Spirit Lake Idaho.


We had 7 on city lots with an average lot size of .356.  Those homes averaged $132.14 per square foot for an average sales price  – with an average days on market of 118 days.  Those are taking into consideration the new construction which was running around the 250 days on market to the existing home sales that ran from 37 to 53 days on market to get our average.

Compared to 2016 average sales price of $131.1 prices are up slightly.

Home prices are up across the country

We had  5 homes on 1 acre lots selling for an average price of $151.48 per square foot.  Those homes ranged from 262 days on market for the new construction with existing home sales averaging about 51 days on market for a total average of 110 days on market for homes on 1 acre lots.

These homes have experienced a big jump from 2016 with an average sales price of $125.70 last year these homes are up an approximate $25 per square foot across the board.

Homes on an average of 5 acre lots average $126.66 per square foot.  Those homes averaged 170 days on market.  We had 3 selling in 2017.  The average lot size for them this month was 5.72 acres.

We had a definite up swing in homes on 10 acre lots.  4 of them selling in June 2017 with the average price of $171.60 per square foot.  Average days on market for them was 91 days and the average lot size was 10.6 acres.

2016 Only had 1 home selling in the Month of June that was over an acre and that was a manufactured home on 20 acres that averaged $147 per square foot.  You are still going to find those numbers consistently up from last year.  Anywhere from $20-$30 per square foot.

Overall Prices up Inventory down!  As usual when you consider these numbers you want to take condition of home into consideration and location.  These numbers are created for you as an average and to give you a basic place to start.  If you would like a more precise number  please contact me for your own personal market analysis or you can request one here also.   My Home value.

For Sale by Owner Beware!

I know this headline sounds a little crazy.  After all us Realtors have been trying to scare the dickens out of you forever!  You know all we want to do is steal your hard earned equity  by doing nothing but sitting on our butts.  I hear you!

Butt I know what I do for my clients so that doesn’t bother me.  I know the service I provide and its top notch.  And I know you need me.  Cocky sounding yes but after seeing what all can go wrong in a transaction I know I am worth the money.

Had an interesting transaction this last month.  My buyer found a For Sale by Owner on Zillow.  Of course!  Where else will a buyer find a For sale by Owner.  Lets be real its Zillow or Craigs-List in my North Idaho /Eastern Washington Market.

So they are out of State buyers and ask me to go preview the property for them.  We had just lost out on a similar property that had a lot of issues thru the home inspection.  So they had to let that property go it was a hidden structural flooding mess.  This property was in the same price range.  A little more but within 22K and well within there budget.

So I call the owner and go preview the house for them.  There is no comparison this house is amazing compared to the one they had an offer in on.  So they sight unseen make an offer on the home.  I negotiated for the For sale by owner to pay the  buyers rep commission and we got this baby going.  They are saving half the commission this way yea yea for them!

its a battle to keep as much equity out of your home as possible

Home sails thru the Home inspection process.  This is a nice home!  I ran comps on the home for the buyers.  Its a way better home than our first home and I had plenty of comps for it found plenty of comps for this new home.  And our first homes appraisal had come in over what they were paying for it.   We are happy with the price we are moving right along.  Buyer comes and sees it and is in love!  This home is great!  Clean, structurally sound etc.  Great!

Lending is moving along Appraiser calls and schedules to see the home.  Appraiser remembers the home from when these sellers bought the home several years ago.  Recognizes how much work they have done on the property.  They were pretty pleased he seemed like a great guy.

Until the Appraisal came in.

Appraiser had some comments that should scare the dickens out of every For Sale by Owner around.

And I quote ”  The appraised opinion of market value is below the sales price.  This is not unusual when a property is for sale by owner.  When a property is not exposed to the multiple listing service or guided by a listing agent, its listing price does not get measured by the market place.”

“Additionally there is currently the perception, and in some cases the reality that the inventory for homes to purchase is limited at this time.  In such an environment, a seller will attempt to maximize on their asset.  When a buyer is faced with this environment, they will often accept an offer on a property that is above the current market value.”

Sellers are of course crying at this time.  The appraisal wasn’t a little off it was $25k off.  Enough to have paid 2 commissions on the property.  We aren’t talking an extreme home we are discussing a $250k property.  And did I say this was a nice home!  This was a Nice House!  They were selling it for substantially  less than I would have listed it for anyway if I had been representing them.  Nice house!

Of course they are begging at this point please fight this for us.

And the fact of the matter.  I can’t!  They got hosed over bad, there is no doubt in my mind about it.  But Agency law in Idaho dictates who you represent.  I represented the buyer.  I am not there list agent.  You unfortunately don’t get to pick and choose when you get representation.  Its not only if bad things start to happen.

Even tho they got to use my contracts and they somewhat have someone walking them thru the transaction because we do always end up having to take care of the transaction when we make an offer on  a for sale by owner.  They had NO Representation!

No access to the MLS to fight that appraisal.  No agent that could have submitted other comps to him.  ( I have fought low appraisals before and won)!  I have found comps for Appraisers that were to busy or didn’t know a certain market good enough to find the comps.  Happens a lot with rural properties.

But did I say I represented the buyer?  Boy are they excited!  Because they know how that home compares.  They have been thru them.  They know!

And yes the sellers could have backed out of that transaction and tried to find another buyer.  I know that is always the knee jerk answer.

Statistics of going it alone

But have we ever discussed disclosure?  You know a lot of For sale by owners forget that they are obligated to disclose just as if they had an agent.  We are in a pretty sue happy environment.  A little Cover your Butt never hurt anyone.

How would you like to honestly answer the question to the next buyer when they say “Why did your last transaction fall apart?”  Do you want to chance it and lie?  Or just hope it doesn’t come up.  Roll of the dice if you get the same appraiser again.  You could pray for cash.  Maybe will happen.  A lot of unknowns and a lot of risk there in my opinion.

And I am not writing this to scare you or induce you to always use an agent but its a scenario that I came across this last month that really gave me cause to pause and consider.  You are very limited in where your home gets advertised as a For Sale by Owner.  Is it really getting shown to the “Market Place”?

 If it sells quickly on the MLS there is proof on the back end of how many times it was sent to prospective  buyers.  There is days on market proof.   An appraiser could ask a list agent about exposure, showings, offers in etc.   And it becomes a statistic in the future.  I would expect that an appraiser would appreciate that especially in a non disclosure state.

I never thought about it from an appraisers perspective.  Unless I enter that home as a sold on one of the MLS’s that I belong to its a gone statistic.   I suppose that could be a little irritating if I was an appraiser.  Might be worth handing out a little spanking.  Maybe?


How did the story end?  Well my buyers felt a little sorry for them.  They knew they were getting a deal.  So they did hand them a couple thousand over the appraisal.  A bone per sea.  And the property got sold.

I still feel very bad for those people.  They had an expensive lesson in my opinion.  I hate to see that happen to anyone.  I am glad my buyers got a deal but they already had a deal a better house than they would have had at probably below fair market value anyway.

So when I think of all of the pitfalls of being a for sale by owner.  The lack of contracts, the proper disclosure forms, pricing the home, the questions of navigating a home inspection,  qualifying a buyer,  the appraisal and then lets add the question did your home receive proper marketing to be considered offered to the public thru the “market”.    What else could possible go wrong?

If your stomach for risk is not that high.  Consider contacting me to help you sell your home.  If your out of my area contact me anyway.  I know a lot of great agents across the country that could help you out.  I am happy to refer you to one of them.

If your going to leave money sitting on the table anyway as these folks basically did.  You may as well be paying an agent and  do  what you can to minimize the risks of selling your home.

And who knows you may find you have a great agent and  a great ally in all of your future real estate transactions.

And just maybe if we save you $20k here and $50k there we may even be worth the money you have to pay for us.

Taking care of my clients best interest is my number One Job!

I want to be your Realtor for life!

Thank You for taking the time to read this and once again Be Careful out there!  Its a dangerous world.

Contact me if you would like some assistance!

May your day be Fabulous!

2017 Rathdrum Idaho May Market Report

Rathdrum May 2017 market report!

 

Let’s start with 2017 –  7 homes on five acre lots sold in the month of May with selling prices  ranging from $138 to $229 per square foot.   Two  homes averaged  $139 per square foot and two averaged $177 per square foot and  three averaged  $216 per square foot.  Condition, and  amenities really made the contrast in these homes.

 

Two  homes on 10 acre lots averaging $194 per square foot.

Two homes on 1-acre Lots one averaging $118 per square foot and one at $189 per square ft.  2 Very different homes with opposite end of the spectrum in amenities.

Golden Spike estates 55 + community had 4 homes selling in May 2017.  They range from $82 to $146 with an average of $128 per square foot.  You have to remember  that most of these homes  you do not own your lot.

There are a few of those  homes that you do own the lot and that was our $154 per square foot one.

Now is still a great time to sell your Rathdrum Idaho Home!

Twin Lakes Village had 4 condos selling.  The ones on Racquet averaging about $93 per square foot in the other two condos averaging $143 per square foot.  The condos on Racquet are still needing a lot of upgrades and other misc issues.   Condition and how things are going to get repaired kind of reflects the differences in those prices.

May 2017 we had 25 single family home selling.

7 of those homes were under the $110 per square foot Mark averaging $103 per square foot.

2 under the $120 per square foot Mark averaging $119 per square foot.

4 under the 140 averaging $136 and

12 averaging $164 per square foot.  Most of  those are your newer construction once again age of Home condition, location really coming into play here.

We’re beginning to  see Rathdrum break up into four different sections with the older homes bringing in the $103 and then homes like around Townsend and Spencer  bringing in  the $119 to the $140 per square foot price range.  And the new homes coming in around the $160 mark.

2016 Homes that sold in May

2016 home sales for comparison with if we start with homes on acreage we had 1 one acre lot on Twin Lakes which  was a Lakefront home for $429,000 it was a 2400 square foot home averaging 167 per square foot.
we had 1 home on one acre  over on Chase it was a three-bedroom two-and-a-half-bath average $150 per square foot.
And we had six homes on five acre lots ranging from us low as $104 per square foot all the way as high as $189 per square foot with the majority of them ranging in at 150 per square foot.
 
Twin Lakes Village we had two condos close one selling at $55 per square foot of course we know which ones those are over on Racket and one selling at $122 per square foot.
Golden Spike Estates 3  of them  for as low as $87 all the way up to 136 per square foot.
And for existing home sales we had 20 home selling in 2016 they were ranging from the high $90s all the way up to about $166 per square foot.
age and  condition factoring in.
8 of them were under $110 per square foot averaging $96 per square foot.
2  in the $120 range averaging  $116.
and the final 10 came in at  $143 per square foot.
So as we can see at least in the Month of May that homes on acreage are up quite a bit $25-$50 per square foot depending on location and condition.  Some even doing a little better than that.
New construction is up bare minimum about $16 per square foot.
 
  And minimal acceleration across the board in all of the areas and condition of homes.

 Inventory is still low so if you are considering selling it is still a great time to list your property.  Contact me for a price quote on your home.  It is no obligation and free.
And if you want more detail of what is closing in your neighborhood.  Please contact me and I am happy to send those out to you.  Idaho is a non disclosure state so I cannot just attach the monthly sold homes for you to browse thru.  But I can send them to you if you request them.  So don’t hesitate.
 I can also set you up with a monthly closed update of the homes in your neighborhood so if that is info that leaves you curious happy to satisfy that curiosity.
Any other questions always here to answer them.  No question is to crazy when it comes to selling your home.  Contact me!

15399 Arcadia Ln, Rathdrum Idaho 83858

Expansive Mountain Views, Views of the valley and views of heaven

Gorgeous 40 acres for sale in Rathdrum Idaho. 15399 Arcadia Lane, Rathdrum Idaho 83858.  Less than 10 minutes to Rathdrum, 15 minutes or so to Post falls and a short 20-30 minutes to Spokane.  Location of this lot is amazing.  Close to town but out in the woods.  Your own private paradise.

 

Gorgeous views of  Coeur d’ Alene, Post Falls, Rathdrum and the Spokane Valley from this beautifully treed lot.

Expansive Mountain Views, Views of the valley and views of heaven

Click Here to receive a copy of the aerial map of this property!

 

 

Power is at the property corner, well is in and a building pad is level and ready to go.   This lot backs directly up to 160 acres of Inland Paper land.  Does  bump up at the NW corner to another huge  chunk of Inland paper land.  If 200 acres is not enough to play on!

 

Tons of wildlife on this property.  The elk herd goes thru regularly.  Lots of deer, an occasional bear, and a few moose are among your many neighbors.  Seasonal creek on the property.  Usually runs most of the year but may get a little dry late in the season.   Enjoy the wildlife as you see fit.

Road is cut in and currently being shared with the  lots that are below  this lot.   This lot does have an easement thru 3 other lots to get to it.  All in place.   Road is well graveled and in good condition.   Lot is also surveyed and well marked.  This lot is the end of the road no reason for anyone to drive thru your lot.

40 Acres bordering Inland Paper Land

There is a small hunting cabin on the property that is in great condition!  And there is a garden spot that is fenced in with posts that are set with the thought of a shop in mind for the future.  Just put trusses on them and you are good to go.

You can see all the way to heaven!

This is a very well maintained property  with a ton of potential.  Can be split into 2 -20 acre parcels for sure and possibly 4 -10s.

Views of Rathdrum, Post Falls and Coeur d Alene Idaho

Very rarely does a lot of this size come available.  And especially so close to town.  Would make an amazing home site or use it for your recreational playground.  Horseback riding,  ATV’s, hunting you name it the fun and the potential is here.  Call today to schedule your showing.

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