Ten Signs it's Time to Sell Your Home

YES, a couple of these are silly. But a couple might hit it right on the head...

1. The kids have all graduated from college.  You and your husband finally have time to yourselves…then they move back home!
   
2. You have three spare rooms in a four bedroom house.
   
3. You have to shuffle your cars each morning to leave for work.
   
4. You spend more time driving to work than you do with your family.
   
5. You spend more money each month for storage than you do for your mortgage.
   
6. Your neighbor found a loophole in the homeowner's association rules and is raising donkeys.
   
7. You keep hearing faint voices telling you to "get out" and they're getting louder.
   
8. Grandpa Jed just struck oil while hunting in your back yard.
   
9. The dog’s house doubles as a guest room.
   
10. You have to take a number to use the bathroom.

If you would like a FREE, NO OBLIGATION consultation on selling your home, contact me today. And don't forget to ask about my "Hassle-Free Guarantee!"

June 1, 2012 Local Market Stats

Good news! Our local market inventories continue to decline year-over-year. In Bonneville County, the first of June this year saw an overall inventory drop (available properties) of 14%.

Year-to-date through May 31st, we are up in closed units by 19%, and the number of units going pending is up 25%. Our values are holding steady vs. the same period last year, with an average sales price of $144,147.

For May, the number of available properties that were considered "Distressed" (short sales, pre-foreclosure, bank-owned) is holding steady at 12% of all available properties, but the % of closed sales that were distressed properties is down to 27% - down from last year that was fairly steady at 33-38%.

What does all this mean?

• There are fewer homes on the market for buyers to choose from. 
• Older inventory is clearing the market. 
• The bloom has fallen off the rose for many buyers with respect to distressed properties...
• ...about 73% of all sales are traditional sellers, not distressed at all.

It's a great time to sell!

Rates have dropped again lately! Local 30-yr conventional rates are down to 3.625...unbelievable! Refer back to my previous post demonstrating how every 1% in interest rate drop give you an extra 11% in buying power. That mean, if you thought 4.625% was good last year, for the same payment you can now get even more house!

It's a great time to buy!

If you know of someone who would like to buy or sell a home, please contact me today! 208.201.2034

It bears repeating...

I posted this about a month ago, but just had a presentation to a Seller yesterday and pulled this up as an example.

Because they are so low, interest rates have a greater impact on affordability than either appreciation or depreciation factors at this point. Every 1% change in interest rate impacts affordability by 11%. Here is an illustration to consider.

At 3.75% (30 year fixed) the principal and interest portion of a $200,000 is $926.23

If the rate goes to 4.75% you can only borrow $178,000 for a principal and interest payment of $928.53

If the rate goes to 5.75% you can only borrow $159,000 for a principal and interest payment of $927.88

These numbers are incredibly enlightening! Consider that as a Seller, you bought into our local market in 2007-2008 (at our peak) and purchased a home for $159k and have not refinanced. You are considering listing your home and buying and buying a larger home, but the value for your current house is below what you are expecting, say $135k, so you will be taking a loss. Should you stay, or should you go?

Considering you will be re-buying into the same value-depressed market, for the same payment you can now afford to buy a $200k home (which 4-5 years ago sold for $240k) compared to 4-5 years ago!

Same payment, larger (possibly newer) step-up home. Did you lose or gain?

Bonneville County Relay for Life

Relay for Life Kick-off Event!

So, Relay fans! It's time again to kick-off the new year's event! The Bonneville County Relay for Life is Friday, July 9th starting at 6pm through 6am Saturday. It will again be at the Bonneville High School track.

Team WCR (Women's Council of REALTORS) will again be entering, and I am proud to say last year we came in 4th place in total team fundraising - and it was our first year participating!

The kick-off event is this Wednesday, January 20th from 6-8pm at the Civic Auditorium. Come see the "Dancing with the Stars" theme. Team WCR will again be raffling off a pink and purple cruiser bike, thanks to the generosity of last year's winner who donated it back to the cause! Tickets are $5 or 5 for $20.

I hope to see you there on Wednesday!

Bonneville County 3Q Residential Closed Sales

Market Update:

The graph to the right depicts Closed Sales Volume for single family homes in all price ranges in Bonneville County. 2009 is purple, past years to the right.

As you can see, total closed sales volume is down from 2008 year-over-year, which was down from 2007. In fact, volume first quarter 2009 was down in sales 28% from 1Q 2008. 3Q 2009 is only down 6% from 3Q 2008....does this mean we are picking up steam? Only time will tell.

I will be posting more of these graphs in coming weeks. Stay tuned!

Data source: Snake River MLS, closed sales, Bonneville County