208.639.7724

Listen in as Ron Wieczorek from Eagle Home Mortgage goes over some of the things to do, and  avoid doing while going through the loan process for your new home. He also has some great info for those that are self-employed and wanting to purchase a home. 

Thom and Dave chat about the many reasons that people are moving to Idaho from all over the country.

 

Dave Burnett:                    This is the Idaho Real Estate Buzz with Thom Dallman, the co-owner, designated broker of Core Group Realty. Coregrouprealty.com is the website for you to go to find out all things going on in real estate in Treasure Valley and beyond. Thom, well, I guess, let's see, the clocks spring forward overnight into tonight and tomorrow.

Thom Dallman:                  Oh yeah, yep.

Dave Burnett:                    So we're-

Thom Dallman:                  We're gonna be-

Dave Burnett:                    I can't remember if it's daylight saving time, or whichever standard. But anyway.

Thom Dallman:                  One of those, one of those where you get an extra hour, lose an extra hour?

Dave Burnett:                    So spring forward-

Thom Dallman:                  I think we lose.

Dave Burnett:                    I can't remember. I just know that if you're going somewhere Sunday morning, to church or wherever, you'll probably be early if you don't fix your clocks.

Thom Dallman:                  That's the nice thing about electronic watches and stuff like that is we don't have to worry about going through the whole house resetting everything, everything does it automatically.

Dave Burnett:                    That's a good thing. But what it does show is that spring is on the way, not far off, and the weather of course, on the improve, and that's always good. And when you get that extra hour of daylight, if you're getting out and about around your house, to work around the house, or out to go look at homes, it just seems a little better, 'cause it's a little brighter later.

Thom Dallman:                  A little bit brighter when you're heading home from work.

Dave Burnett:                    Yep.

Thom Dallman:                  Or just like you said, kinda out putting around the yard, you get that extra hour to get it all cleaned up and looking nice for your neighbors.

Dave Burnett:                    Yep. Well let's see, since we last gathered together, things still, you know the market very tight as far as availabilities.

Thom Dallman:                  Very tight, inventory is still at all-time lows, still not much coming on. New construction still prevalent out there, just picking up like crazy. All these build jobs that we're getting, and new construction homes that are being bought, and so forth.

Dave Burnett:                    Yeah. Well in fact, I read just this past week that Idaho, Boise area, fastest growing area in the nation.

Thom Dallman:                  Yep, yep it sure is.

Dave Burnett:                    That is scary.

Thom Dallman:                  We reached another height.

Dave Burnett:                    Yeah. And what that really shows, we've talked about it in the past, but what it really shows is if you're looking to buy a home, you need a dedicated professional who is on top of it, and not asleep at the switch.

Thom Dallman:                  Yep.

Dave Burnett:                    Because when the deals come up, the deals are there.

Thom Dallman:                  Yeah, once they pop into the MLS, you want someone that's gonna be ready to go, and write up that offer for it. Because yeah, a lot of these homes are getting four, five offers at a time. So it's a very competitive market for the buyers out there with this lack of inventory and stuff. So you have to have someone that's quick and ready to move.

Dave Burnett:                    And Core Group Realty, of course you've got some new listings on the website, CoreGroupRealty.com.

Thom Dallman:                  Yeah, we've got a couple that came on this week that we're excited about. Probably will go fast, once again, this weekend. The first one is at 2131 North Middlefield Road here in Boise. This is a three bedroom two bath, single level house, 1,400 square feet, just under a quarter acre lot. So this is off of Maple Grove and Northview area, and this is coming on at $215,000. Nice oversized garage, with a large patio deck, actually it says three large patio decks.

Dave Burnett:                    Nice.

Thom Dallman:                  One is covered, there's a huge kitchen, nice large family room with a fire place, and fully finished yard with mature trees. So it's really a great house, especially for the price, $215,000 in Boise, to find something like that right now is rare.

Dave Burnett:                    Yeah.

Thom Dallman:                  Anything around that $200,000 price point is rare to find, and it goes really fast.

Dave Burnett:                    And what area is it again?

Thom Dallman:                  It's the Maple Grove Northview area, so Fairmont subdivision.

Dave Burnett:                    Okay, so are we kind of near Capitol High School in that area?

Thom Dallman:                  Yep, exactly.

Dave Burnett:                    And that is a great location if you're looking to get to downtown Boise.

Thom Dallman:                  Yeah, so convenient to everything, to the mall, to downtown, to freeways, to the village.

Dave Burnett:                    You just jump onto [inaudible], and get that way, and get back up to get up Highway 55.

Thom Dallman:                  Exactly.

Dave Burnett:                    So centrally located is I guess the way I would describe that.

Thom Dallman:                  That's a perfect way to describe it.

Dave Burnett:                    Yeah, so it's a great place. Again, CoreGroupRealty.com you can go to the website if you wanna take a look at this home.

Thom Dallman:                  Just click on our featured listings page, and you'll see all of our current listings that we have on there.

Dave Burnett:                    And if you wanna see it, give a call to 208-933-7777.

Thom Dallman:                  Yep, give us a call, we've got agents standing by. Actually, we have a few agents that are at the roadster show this weekend, so we've got some agents down there representing us.

Dave Burnett:                    Oh nice, at the roadster show.

Thom Dallman:                  Yeah, exactly.

Dave Burnett:                    Excellent.

Thom Dallman:                  Have one of our agents who's passionate about old cars, so he asked if we could do a booth there, so we're doing a booth at the roadster show.

Dave Burnett:                    Nice.

Thom Dallman:                  So come and see us there if you have any questions.

Dave Burnett:                    You know, and that would be if you were hesitant, because for some people dealing with somebody who sells something, it's always intimidating to do that.

Thom Dallman:                  Right.

Dave Burnett:                    That'd be a great opportunity there to sit and visit with somebody and say, "Hey you know what, I've got my home, I've been here," and find out a little bit about the agents, and a little bit about Core Group.

Thom Dallman:                  Yeah, for sure, yeah come down and talk to us.

Dave Burnett:                    Yeah.

Thom Dallman:                  We'd love the opportunity to chat with people.

Dave Burnett:                    Yep, perfect.

Thom Dallman:                  For sure.

Dave Burnett:                    What else you got listed?

Thom Dallman:                  The second one is over in Bridge Tower, great subdivision in Meridian over off of McMillan and Linder, this one is 1842 West Milazzo, M-I-L-A-Z-Z-O. Milazzo. And this one is a four bedroom, two and-a-half bath, 3,000 square foot home. Two story, and this one is being listed at $440,000. This one has a secluded main level master suite, vaulted ceilings, double crown molding, custom tile walk in shower in the master, really just nice features throughout. This was actually from my understanding one of the model floor plans for Castello Builders back when it was built in 2007. It’s got the European Beech cabinets, bronze hardware, customer door window trim, a large bonus room, which could also be a fifth bedroom, as well as a computer loft.

Dave Burnett:                    Nice.

Thom Dallman:                  Just a really nice home, just beautifully done, very European looking style to it. Very nicely done, so also on .21 of an acre, so just under a quarter acre, nice large lot. And in Meridian, accessible to pretty much everything as well.

Dave Burnett:                    Yep, very good. Which is nice, if you're in that area, and if you wanna go and ... We've talked about this in the past, more and more people now are commuting to the west in the mornings.

Thom Dallman:                  Yeah.

Dave Burnett:                    It used to always be everybody was commuting to the Boise area, but now if you're commuting to the west out of Meridian, easy to get access to head out that direction as well.

Thom Dallman:                  Exactly, there's just so much stuff going on all over the place, but especially out there at the Overland and Eagle area. All those office buildings that are being put in there, and just all over the Valley there's just so much new stuff going in everywhere.

Dave Burnett:                    Yeah.

Thom Dallman:                  New businesses coming in.

Dave Burnett:                    I find it fascinating, I think back, and maybe it sounds like I'm dating myself, but when I first moved to Boise, it seemed like you kinda got everywhere all the time. But there's parts of town now, like Eagle and Overland, other than maybe going to the Majestic Theater, I don't get to some of these areas very often.

Thom Dallman:                  Exactly.

Dave Burnett:                    And it always is astounding when you go to East Boise and it's like, "Whoa, where'd all that come from?"

Thom Dallman:                  Exactly. Yeah, there's a lot out there too, and a lot of great stuff too, speaking of that area, I was just out there yesterday. It's the Gramercy Park Restaurant, great restaurant there, and right there on Overland across from the Majestic, down and across from the Majestic, and one of the best restaurants in town. But in one of those areas where you Just never think about going to for a nice restaurant like that. So there's just little pockets of that everywhere throughout the Valley that are popping up. Just fun restaurants that are going in in these discreet areas.

Dave Burnett:                    Yeah, and here's the deal I love, when it comes to the website, CoreGroupRealty.com, if you want to browse these homes, you can sit in your housecoat on the couch on a Sunday morning and just browse these homes.

Thom Dallman:                  Yeah.

Dave Burnett:                    Go look through them, they got great photographs, some of them of course you have actual virtual tours on some of the homes, where you can go virtually through the homes.

Thom Dallman:                  Exactly.

Dave Burnett:                    So it's somewhere you can go, it's a very user-friendly site, and-

Thom Dallman:                  Yeah, go check it out, and check on the home search site. You can also favorite things, so if you see something that you really like, and wanna share it with other people, you can favorite it, so you can pull it back up later. As well as being able to if you see a house that you really, really, really like and have some questions on, you can just hit an inquiry button on there as well to ask questions and get in contact with an agent to find out information on it.

Dave Burnett:                    It's very handy.

Thom Dallman:                  It's very super handy, very user-friendly, we're not agents that are gonna push you to go buy a house, we're here to just answer questions.

Dave Burnett:                    Yeah.

Thom Dallman:                  Until you're ready to make a purchase or what not.

Dave Burnett:                    Again, we've always talked about interviewing that agent to make sure it's the right fit for you. And Core Group buyers and sellers agents, so whether you're buying a home, or whether you're selling a home, there's somebody that is there that will fit your personality to help you get the job done.

Thom Dallman:                  Yep, we've got a fit for everyone.

Dave Burnett:                    It is the biggest purchase that you will ever make, and probably the biggest sell you'll ever do in your life, that home.

Thom Dallman:                  Yep, for sure.

Dave Burnett:                    So you wanna make sure it's done right. We're gonna continue on the other side talking a little bit about what's happening in the mortgage marketplace, and some other things for you as well today in store. It's called the Idaho Real Estate Buzz, where we talk all things real estate. Thom Dallman, the co-owner, designated broker of Core Group Realty, the sponsor of the program, CoreGroupRealty.com the website, 208-933-7777. Find out why they say you get more with Core.

 

 

 

 

 

Segment 2

 

 

Dave Burnett:                    This is The Idaho Real Estate Buzz. He is Thom Dallman, the co-owner, designated broker of Core Group Realty. CoreGroupRealty.com is the website. Give him a call, (208)933-7777.

                                                You know, one of the things that happens with any real estate transaction is it takes money.

Thom Dallman:                  It takes money. Money makes the world go round, right?

Dave Burnett:                    It does. But I think to the average person, that sometimes is the frightening thing, because it could be a large sum of money. You can be talking about easily, a quarter of a million dollars or more, to get a transaction done. And Ron Wieczorek with Eagle Home Mortgage in studio, equal opportunity lender, to talk a little bit about what's happening in the mortgage world and Ron, welcome back to the show.

Ron Wieczorek:                Thank you for having me.

Dave Burnett:                    I guess there's a list of do's and don'ts, there's some things, when you're in the process of getting a loan, things you do want to do and things you don't want to do.

Ron Wieczorek:                And there's a lot of them, and you'd be surprised about how many that don'ts are broken and how many of the do's aren't done. So the first thing that I always kind of put to the forefront, and it's not so much a do and don't, but it is, is to pull your credit just to make sure you know what you're working with. I've had a lot, there's a lot of bad people in this world and there's a lot of, you get hacked, somebody uses a credit card, and there's just something lingering out there that you don't know is out there. A lot of people have their finger on the pulse, more now, just because there's a lot of companies out there that send you credit reports or updates, but not everyone has access to that. Or know they have access to that. So you really want to get your credit pulled to know where you sit, and if there is something that, before you get too excited about buying a home, you want to know that, maybe it's out there, that you gotta take care of.

                                                And hopefully you pull it and it's what you thought, and it's great, and you're ready to move forward. So that's one thing I always kind of want to lead off the conversation with because it's so important.

Dave Burnett:                    When it comes to that credit though, sometimes just a little on there can put kind of a speed bump on the whole process.

Ron Wieczorek:                Yeah, and I have a personal story. When I went to buy my first house, oddly enough there was a Doctor Ron Wieczorek, and he had a tax lien and was coming up on my credit.

Dave Burnett:                    Whoops.

Ron Wieczorek:                And, I mean, the tax lien would have been put on there when I was like seven years old, so I don't know what kind of business I was ...

Dave Burnett:                    Conducting back then ...

Ron Wieczorek:                A Doc McStuffins doctor shop there, but there was a tax lien on me and I went to buy a house and, I was in industry already, and I didn't even pull my credit before, because I thought it was fine. I was, I know I pay my bills, I know I'm fine. And then we had to get that taken care of. It ended up getting taken care of, but the person I talked to said, "Okay, we have it as paid, so you're good now". And that's not good because it was still on the credit report. And I was like, no, I want it deleted off the credit report. I don't want my name linked to this in any way, shape or form. To show it's paid is good, in the future and seven years later might be great, but it's not as good as deleting it from your credit report completely.

                                                And to your point, you said there might be little things out there. You know there could be a medical bill. That's the biggest offender that we see is medical bills, and that's probably the biggest one that lenders are the easiest on, because that's usually not something that you did. You didn't go just go rack up medical bills like maybe a credit card or an auto loan. That's more out of your control at most times. But there are little things that can pop up and I see it daily, that pop up on your credit, and there could be a little tweak you do, and you're good to go. It's better to get it under control early than wait till later.

Dave Burnett:                    So one of the do's then. Get your credit pulled, get it reviewed, make sure it's in order.

Ron Wieczorek:                And even if it is in order, and there's just something, a little tweak you can make to make it that much better, then do that as well. You know, it's gonna help you in the long run. So yeah, that's the number one do on my list. Number two is with employment. You can't guess how many times I've been in the middle of someone buying a house and a week before closing they're quitting their job.

Dave Burnett:                    Hey Ron, I took a new job with ... it's like no, no.

Ron Wieczorek:                And I don't ask people daily, are you still employed at the same place and maybe that's bad on my part for not harping on the fact that you want to stay employed and to assume that everyone knows that. But yeah, be forthright about your employment and try to stay employed as much as possible while you're going through the process and disclose fully.

Thom Dallman:                  I can also actually testify too, the fact that I've had clients who have been like, I'm so miserable at my job, I think I'm going to quit this week and I'm like whoa, wait a minute, you're under contract, you close next week, you close in two weeks. Talk to your lender, make sure you work through this with your lender first.

Dave Burnett:                    Wow, that's amazing, now I do know this. If you're self-employed, there's a little bit different process than if you were employed by a company, correct?

Ron Wieczorek:                Right, if you're a W2 employee, hourly or salary, that's easy math for any lender. If you're self-employed we do need to see tax returns because if the government doesn't think you make the money we don't know you make the money either. And unfortunately in a lot of ways you can't have it both ways. You can't say I'm going to report zero dollars to the government because it gives me a lot of tax advantages, which I get, I would do the same, to a certain extent, but if you know you are going to shop for a mortgage, and this is the perfect time of the year to talk about it, because people are doing their taxes now. So if you are doing your taxes and you know you are buying a house, you want to make sure that you are reporting enough income so when the lender does take a look at it you can get approved.

                                                Just because you have a number in mind that you think is gross receipts doesn't mean that that's what the bottom line is going to be to qualify.

Dave Burnett:                    That the bank is going to see it that way.

Thom Dallman:                  Exactly.

Ron Wieczorek:                So that's a great point, and there's a lot of rules for self-employed. How long you've owned a business. The longer you've owned that business, and been incorporated, or with the doors open, the more lenient we can be with that. What I mean by that is if you've been in business for, and a lot of people don't know this, is if you've in business for five years or more under that same company, we can, a lot of times, default to one year's tax returns instead of averaging two years returns, which will get you, you know sometimes it'll get sticky, so that's just one of the little nuances there.

                                                But you're right, if you're self-employed it's, once you have that credit pulled, give me your tax returns, I can kind of guide you through that and this say this is what I'm coming up with a number and here's why and this will be a better approach next year if you can afford it. Now that comes with a bigger tax bill, right, so that might now be ...

Dave Burnett:                    Might now work.

Ron Wieczorek:                Might not work, but it's better to know where you stand. So that was on my list, so I'm glad you brought that up.

Dave Burnett:                    It's easier to play the game if you know the rules. What are the other do's you might have there?

Ron Wieczorek:                We talked about how much money it takes to buy a house.

Dave Burnett:                    Um hmm

Thom Dallman:                  Yup.

Ron Wieczorek:                And cash, cash is usually king, but cash is not king in our world?

Dave Burnett:                    It's not?

Ron Wieczorek:                It's not. If you have money under a mattress, if you have money in a safe, if you don't trust banks, you're going to have to trust them for two months. Because we need to be able, you always, when you are talking about down payments and sourcing your down payments, we know to know this is seasoned money.

Dave Burnett:                    So me just saying I have $30,000 in the coffee can in the back yard doesn't work.

Ron Wieczorek:                That's not going to work for me. Unless you have an Aunt that's giving you that money and she can source it, but having the mattress or safe money that's great for you, but that's not great for your down payment. There's going to be a lot of questions asked.

Dave Burnett:                    So it needs to kind of be verified by the bank that money is somewhere.

Ron Wieczorek:                It absolutely has to be verified and the preference is at least two months. After two months then you are considered seasoned money and we're not questioning where it comes from. Along the same vein is of not only the mattress money is large deposits, that's a big don't. If you know you are financing a house and you just run into some money, or you have a little mattress money, or wherever you get the money, know that we're going to ask questions, You know if it's a legitimate source and you sold something and you have a bill of sale, that's easy. If it's from an employer and they just gave you a check, a live check once, instead of it going in the direct deposit, we can connect the dots there. But if it's ...

Thom Dallman:                  Magic money ...

Ron Wieczorek:                Magic money ... My buddy owed me money, he just gave me cash and I can't really tell you anymore about it, well that's not going to work for me, so that's a big don't. Watch your large deposits. Because the knee jerk, and what underwriting is going to assume automatically is that came from an unsecured spot. You know, there's a lot of options now for credit cards where you can just, they send you, cash this check it's $10,000, zero interest for year, and we see a lot of folks using that and then saying, yeah that's where my money came from.

Dave Burnett:                    And that's going to count as $10,000 bucks against you.

Ron Wieczorek:                Yeah, that's not going, that's not going to play. We need to know that if it's coming from a source and you did take it from a loan, if it's a home equity loan from another property, if it's secured against collateral, that's okay, but not from sources like that, you're not robbing Peter to pay Paul.

Dave Burnett:                    Well that's kind of beginning to get into the don'ts. What are some of the don'ts that we don't want to do?

Thom Dallman:                  Don't take out a credit line.

Ron Wieczorek:                Don't borrow money from friends. Like I said, don't take it from a credit card. There's a lot of don'ts. Don't do anything illegal to acquire the money. I can't stress that enough, you guys laugh, but that's come up in the past.

Dave Burnett:                    Wow, I guess I live a sheltered life.

Ron Wieczorek:                Well I did until I got into the mortgage business and then I start hearing about things that makes me blush.

Thom Dallman:                  Oh my gosh.

Dave Burnett:                    My Uncle Guido got me that money. Yikes, that's not good.

Ron Wieczorek:                You have an uncle Guido too?

Dave Burnett:                    I do! So, you ... you don't ... you know you have to account for all of the money that comes in and we're talking about employment.

Ron Wieczorek:                Stay employed, you know, employment history is a big thing. You know, if you've had five jobs in the past year, that's not going to be looked as good as someone who's been at the same company for four or five years.

Dave Burnett:                    Lenders are looking for stability.

Ron Wieczorek:                Absolutely, income stability, the fact that, let's say that you've never, you just got in the work force and maybe you graduated from college and everything is on the up and up. We have to show that you can, as silly as it sounds, that you're able to get up every day and go to a work and go somewhere that you're cashing a paycheck, because we see a lot of people do for a couple of months and then kind of fall off the map there. So you have to show that you just have the ability to get up every day and walk into a job and get a steady paycheck.

Thom Dallman:                  Is there a certain amount of time that people need to be employed? Because that's what I get often is people are like, oh gosh, I've only been employed for three months or I've only been employed for six months. I can't get a loan.

Ron Wieczorek:                I'm going to answer that two ways Tom. The magic bold answer is two years to be employed. Let's say I started with the Eagle Home Mortgage six months, I did, I've been there longer than that, but if I started there six months ago, but I was with another place, previous to that for two years, that's fine because I have been working for at least two years. So if your person that you're talking about just changed jobs within his industry, or lose in that industry, and it doesn't even have to be in that industry, we can use that income if it makes sense and their W-2.

                                                So just because you started a new job, and you've only been there, and you've received a paycheck, and you show a history that you have been able to work. That's fine, we're not going to penalize you just because you made a career change and did something that maybe benefits your family more or just makes you happier at the end of the day. Because you know, we talked about the job you're miserable at, if you're at a job that your miserable at then everything kind of falls off the rails from there, so you can only stomach that for so long. So we want people to be happy. Two years is the magic bullet though to show that you're employable and that you're employed. And there are certain loan programs that require at least two years employment, not at the same employer, I stress that, just being employed somewhere and showing that history. The less jumps the better from job to job.

Dave Burnett:                    So really as you look at all of it, whether it's the financial end of it or the employment end, stability is the key here, that they are looking for and the ability to document it.

Ron Wieczorek:                Absolutely, income stability, asset stability, credit stability, all the stabilities are keys to getting a mortgage. And we know life throws us curves and you know, you're not always going to bat three for three, you know, nobody in the hall of fame is three for three. But, you get a couple of those and we're starting, we can work with you.

Dave Burnett:                    You get a 300%, you're a hall of famer for that?

Ron Wieczorek:                We like a little more than 300 in the mortgage world.

Dave Burnett:                    Ron was work with Eagle Home Mortgage and if somebody wants to get hold of you to maybe run that credit check, to get pre-approved, and that's something else, you want to get pre-approved to get that home, how do they get hold of you?

Ron Wieczorek:                The best way is my cell, I always have my cell on me no matter where I'm at. (208)869-9154.

Dave Burnett:                    And if you don't have that number, can't remember it, can't write it in the dust on your dashboard, you can always go to coregroupreality.com and of course the number could be found there as well.

Thom Dallman:                  Look at the service providers list on there, and you'll find them on that list.

Dave Burnett:                    Ron, thank you so much, we'll continue on the other side. It's the Idaho Real Estate Buzz being brought to you by Core Group Realty, call today (208)933-7777. Find out why they say you get more with Core.

 

 

 

 

 

Segment 3

 

 

Dave Burnett:                    This is the Idaho Real Estate Buzz. He is Thom Dallman, the co-owner, designated broker of Core Group Realty. Coregrouprealty.com is the website. 208-933-7777, that is the phone number to call. You know, we talked a little bit earlier that one of the articles that have come out in the past couple of weeks is the fact that Idaho, in particular the Boise area, one of the fastest growing areas in the nation.

Thom Dallman:                  We keep saying this, we've doubled in size in 10 years, and they anticipate that we're going to double in size again in another 10 years.

Dave Burnett:                    Why is everybody moving here?

Thom Dallman:                  Because of the affordability and the livability and everything of Idaho, as well as we technically have the lowest crime rates in the US, and we're one of the safest areas to live in and stuff.

Dave Burnett:                    It is.

Thom Dallman:                  Yeah, everybody's gravitating towards here because they just keep hearing us on the top of all these lists.

Dave Burnett:                    I ran into somebody two weeks ago that they moved here from Montana.

Thom Dallman:                  Oh yeah?

Dave Burnett:                    It's just because they were trying to find somewhere new, somewhere a little bit further south that's not quite as cold as Montana.

Thom Dallman:                  Not as cold, I don't blame them for that.

Dave Burnett:                    They saw a thing on TV about Boise, and they decided, you know what? We've been through there a couple times. Let's go down and check it out, and within two months they moved.

Thom Dallman:                  We have a lot of people from Alaska kind of doing the same thing, moving into the area because-

Dave Burnett:                    It's not all California.

Thom Dallman:                  ... they still want kind of that wilderness feel, for the mountains and stuff like that, but want to get out of the cold.

Dave Burnett:                    Yeah. It's not all California moving here these days.

Thom Dallman:                  Oh gosh, no.

Dave Burnett:                    People from Alaska, people from Montana, people from back east moving.

Thom Dallman:                  I'm hearing from people actually from Seattle. A lot of people are moving here from Seattle and Portland.

Dave Burnett:                    Cost of living in Seattle is out of control.

Thom Dallman:                  Cost of living is getting so high out there.

Dave Burnett:                    Yeah.

Thom Dallman:                  It's super difficult. We talk about our low inventory. They say it's super difficult in those areas to find homes as well that are affordable, A, but then B, just to find homes is hard, and that's why they're moving here.

Dave Burnett:                    You think about what has happened in Boise city limits. It's pretty much grown, but there's no areas to really build in unless you level something.

Thom Dallman:                  Yeah, exactly.

Dave Burnett:                    There's not much anymore.

Thom Dallman:                  Oh, especially downtown area, yeah, especially in the north end and stuff like that. What they're doing is going in and doing like what Heather Echevarria and Innovative Custom Homes does, is going in, you know, tear down a house and put in a new one. That's all you can really do.

Dave Burnett:                    For Boise proper, that's part of the reason why growth is limited unless you go up or tear it down, you can't really rebuild. Everything is sprawling out to Meridian and to the outer-lying areas.

Thom Dallman:                  South, we do have some new home subdivisions coming in in south Boise that'll be coming up here pretty soon. The 400 home site that's going to go in at the end of Cole Road is one that's coming up soon. I think they've already started construction, or digging on that.

Dave Burnett:                    For those old-timers, we've talked about it off the air before. Those old-timers remember how that Cole interchange on the freeway used to be, where you couldn't go south without going up on the freeway, designed that way specifically to prohibit growth to the south. Well, guess what.

Thom Dallman:                  They've managed to figure out a way to get around it.

Dave Burnett:                    Change that freeway and that off-ramp, and how that all works here.

Thom Dallman:                  Exactly.

Dave Burnett:                    Now that growth is to the south.

Thom Dallman:                  Yeah, with all this growth and stuff, I mean, that's one of the big contributing factors, we've talked about it quite a lot lately, about the low inventory. We just continue to be at the lowest inventory that we've been in, in years and decades and stuff, because of the fact that we have so many people moving in with prices going up so quickly and stuff like that, and uncertainties in the marketplace and things like that, we've not had the listings that we need, the inventory that we need. We're at a all-time low. I believe at the end of January we're still 1.7 month supply, which literally means if nobody lists their homes, we'll run out of inventory in one and a half months, basically.

Dave Burnett:                    To be honest with you, and I'll just say this right up front. That's why Core Group Realty really making a push to get those who are trying to sell their homes, give Core Group a call. 208-933-7777. Find out if they're the right agency for you to list your home, and ask the hard questions. Ask what's being done on social media on Core. Ask what's being done to help market your home, to get the most money you can for it.

Thom Dallman:                  Exactly. Yeah, I just recently read a report from corelogic.com. They did a report, just kind of exploring the housing market since the last recession. Their biggest push was to look at the home values from five years ago to where they are now.

Dave Burnett:                    Five years.

Thom Dallman:                  Yeah. They put a percentage for every state. Idaho has ranked up in top nine states that have over 40% price increase.

Dave Burnett:                    This is by state.

Thom Dallman:                  By state, yeah. By state.

Dave Burnett:                    Okay, so Treasure Valley's probably even more.

Thom Dallman:                  Could be even more, yeah, for sure. This is taking the whole state into account. It would be interesting to run those numbers. I may have to do that for our next video segment. Run those numbers to see what Treasure Valley did. Right now as a state, Idaho is at 46% price increase from where home values were in December of 2012, so five years ago.

Dave Burnett:                    That's almost half.

Thom Dallman:                  That's almost half, yeah. Almost half of what they were. Think about where our prices were in 2010, a couple years before that when we were at the bottom of the market. People who bought in 2010, 2011, they have even more equity in their homes. I've been telling people they're almost double what the home values were in 2010 and '11 when people bought then.

                                                Now is a really, super great time to look at, if you're thinking about selling, if you're thinking about getting some of the equity out of your house, now's a great time to do it because prices are at all time highs. 46% increase over five years. We're up there with, and this all seems to be on this west side of the United States, because California and Washington were up 57% in price increase.

Dave Burnett:                    Which is surprising to me for California.

Thom Dallman:                  Yeah, right?

Dave Burnett:                    It sounds like everybody's moving out of California.

Thom Dallman:                  Everybody's trying to move out, but you know what? There's people moving to California, too. There's a lot of people that do want to go down to the warm states. You see all these successful TV shows of people selling property in California and stuff.

Dave Burnett:                    You got the weather. I'd hate to be a weatherman in San Diego.

Thom Dallman:                  Exactly.

Dave Burnett:                    It's going to be 80 today and sunny.

Thom Dallman:                  Exactly.

Dave Burnett:                    Pretty much do that for the whole week. That's why they're very popular. You got the coastal area where property values are huge as well, but Washington remains up high as well.

Thom Dallman:                  Washington remains up at 57%. Oregon actually is at 54%, so more than us as well. People are wanting to move and escape to Oregon. Then at the very top of the list, Nevada, 66% price increase over the last five years in home prices.

Dave Burnett:                    Most of it in the Vegas area.

Thom Dallman:                  I would imagine.

Dave Burnett:                    Yeah, it is.

Thom Dallman:                  I would imagine so.

Dave Burnett:                    Everybody thinks about the Strip when they go to Las Vegas, but really, the city itself is ...

Thom Dallman:                  People really like, yeah.

Dave Burnett:                    Quite spectacular.

Thom Dallman:                  Yeah, they really like living in that area. I think Reno plays a little bit into that, too. Reno seems to be ...

Dave Burnett:                    Reno, Carson City area.

Thom Dallman:                  Yeah, a big up and coming spot, too. It seems like every time I've been down to Reno lately, it's just been more and more construction and more and more growth and stuff like that. Yeah, those are the tops of the list. We made it in there as far as home price increases.

Dave Burnett:                    Yeah, I don't know, is that's a good ... I guess if you own a home that's a good thing.

Thom Dallman:                  Yeah.

Dave Burnett:                    If you're looking to buy a home, that's not such a good thing.

Thom Dallman:                  Yeah, it's making it a lot more interesting for the home buyers, because they do have to purchase, now at a time where home prices are at the top. Luckily, the interest rates are still all-time lows. They are starting to creep up a little bit, but you're still getting into a house with a really good interest rate. It's still a good time to buy and stuff, despite the higher prices.

Dave Burnett:                    I keep harping on this, but I really do mean it. It is a time where you want an agent that is working for you, that understands this, that's not sleeping at the switch and deciding, I think we're going to go golfing this weekend and I'm going to turn my phone off.

Thom Dallman:                  Exactly.

Dave Burnett:                    There's a home that may be listed on the MLS and it's there on Friday. If they're they're sleeping on the switch, it may not be there on Monday.

Thom Dallman:                  Exactly. You want an agent that's keeping an eye on those 24/7 for you, pretty much.

Dave Burnett:                    Yeah.

Thom Dallman:                  Obviously, real estate agents have to have a life.

Dave Burnett:                    They do.

Thom Dallman:                  You want someone that's ready to move.

Dave Burnett:                    There's systems in place to make sure that it's being watched by somebody in the office, anyway.

Thom Dallman:                  Exactly.

Dave Burnett:                    I know with Core Group, that that is something that there is a real ... I'm an outsider, that I come in and we do this show in studios every week, and I'm an outsider, but I see a real team unity right from the front desk, to the agents, to-

Thom Dallman:                  That's what I love about ...

Dave Burnett:                    ... the comradery and team.

Thom Dallman:                  That's what I love about our atmosphere here, and how everybody just gels really well together. We only have agents that are dedicated to the business, that are willing to learn and share what they learn, and talk about best practices and what's happening out there. It's a great company, if I do say so myself.

Dave Burnett:                    Yeah. I can say it, because I don't work here.

Thom Dallman:                  I appreciate that.

Dave Burnett:                    I can say that as a testimonial of just ... You get a feel when you go into a building sometimes. You get a feel for what's going on, and just the way people talk to each other. It's a good, warm feeling here, it really is.

Thom Dallman:                  Thank you, I'm glad to hear that.

Dave Burnett:                    That's something that you need to find out. If you're thinking about selling, and I said it earlier, Core Group's not ashamed to say, they are looking for your business. If you want to sell your home, they want to help you get the most possible money for that home.

Thom Dallman:                  Yeah, we want to be your trusted advisor in this biggest transaction, one of the biggest transactions that you have in your life. We want to be that trusted advisor for you and help guide you through that process, make it as painless and ease-free, or at ease.

Dave Burnett:                    As easy as possible.

Thom Dallman:                  Easy. Not too much stress, because it can be a stressful time and stuff.

Dave Burnett:                    Yeah, they really do want you to take advantage of the fact that if we're sitting here four years from now, and they say the price of homes has gone up another 50%, that you can take advantage of that, and that you can cash in on that as well, and benefit from the inflation of the price of properties that takes place here in the Treasure Valley. You know what? Price of homes is not going to go down around here.

Thom Dallman:                  Not any time soon.

Dave Burnett:                    It's going to continue to go up, so get on the train while the train is running.

Thom Dallman:                  Exactly.

Dave Burnett:                    We're going to continue on the other side. This is the Idaho Real Estate Buzz, where we do talk about all things real estate. We'd love for you to be able to email us. Go to coregrouprealty.com, there's a spot there you can send a note, write to Thom Dallman and ask him questions, find out more about what's going on. You got blogs that are on the website as well. Check it out at coregrouprealty.com, sponsors of the Idaho Real Estate Buzz. Find out why they say you get more with Core.

 

 

 

 

 

Segment 4

 

 

 

 

 

Dave Burnett:                    This is the Idaho Real Estate Buzz. He is Thom Dallman, the co-owner, designated broker of Core Group Realty. coregrouprealty.com is the website to go to. Call 208 933-7777. Just start dialing sevens.

Thom Dallman:                  You'll get there eventually.

Dave Burnett:                    You'll get there and somebody will answer that phone to answer your questions.

Thom Dallman:                  Yeah.

Dave Burnett:                    Well kind of a breath of fresh air because spring is right, we're right there.

Thom Dallman:                  Yep.

Dave Burnett:                    We're right there.

Thom Dallman:                  We're getting right there. It's right around the corner. Getting some nice days here. Sunshiny days.

Dave Burnett:                    And if you're thinking about selling your home one of the things you'll want to start thinking about if you really look at it, the bushes may need to be trimmed up a bit. The grass is still kind of that brownish gray color.

Thom Dallman:                  Exactly.

Dave Burnett:                    But it is time to now to start whipping it into shape.

Thom Dallman:                  There's some things that you can start thinking about doing. If you are thinking about selling this spring, some low maintenance tips and ideas of things that you can start doing now to get yourself prepared for it. Just little items to go through just as your kind of puttering around the house on the weekends doing little fix it projects and stuff like that.

Dave Burnett:                    Let's run over some of those.

Thom Dallman:                  Yeah. Yeah, just kind of starting out with some of the basics of checking your smoke detectors. A lot of smoke detectors, people taking batteries out or just kind of disconnected them because maybe they were chirping.

Dave Burnett:                    Chirping in the middle of the night.

Thom Dallman:                  Yeah, exactly.

Dave Burnett:                    They never chirp during the day, they always chirp in the middle of the night.

Thom Dallman:                  Yeah, what is up with that?

Dave Burnett:                    I don't know how it works.

Thom Dallman:                  I think actually heard once the theory that it's because of the temperature change at night and when it gets a little bit colder, the temperature change will set them off.

Dave Burnett:                    Oh is that it? 'Cause it always seems to happen at night.

Thom Dallman:                  I know. Tell me about it. Unfortunately we have a smoke detector that's like just out of reach. Even our longest ladder can't reach it and that's started chirping recently and so we're like, oh we got get some scaffolding in or something to change that battery.

Dave Burnett:                    Getting out the ladder, hitting it with a broom. That's not good.

Thom Dallman:                  Right exactly.

Dave Burnett:                    That's not good.

Thom Dallman:                  Your smoke detectors are a big part of the inspection process when people come through to inspect house, they're going to check the smoke detectors so you want them in working order. Usually I suggest people go through and ...

Dave Burnett:                    Once there's a fire it's too late.

Thom Dallman:                  Yeah.

Dave Burnett:                    You can't go back and do it. You gotta do it ahead of time.

Thom Dallman:                  Yeah, and just for home safety for your own family's safety you should be putting those batteries back in.

Dave Burnett:                    Be a little proactive on that one.

Thom Dallman:                  Exactly and stuff. Also tell people to do a light bulb check. Go through and check and your light bulbs 'cause I know I personally have a whole bunch of light bulbs out and I'm just like, I'll get to it next week, I'll get to it next week. So you really want all your light bulbs working and functioning so that, especially on the exterior. We have, we've had this weird rash lately of inspection reports that are coming back that exterior lights aren't working. And that's all an inspector puts, exterior light doesn't work. And so that begs then the buyers start thinking about, oh is it a bad faulty wiring? What is it? Nine out of 10 times it's just a bad light bulb.

Dave Burnett:                    But nothing's worse than for an agent showing a home when they go out to, they go try to go into a room or a closet or onto the garage and they flip the switch and nothing happens.

Thom Dallman:                  Nothing happens.

Dave Burnett:                    It's like, really, this is a nice room.

Thom Dallman:                  Exactly. It just makes the buyers be second guess if there's, like I said, any wiring issues or stuff like that.

Dave Burnett:                    Right.

Thom Dallman:                  Along the same lines as new construction, we always do this process called the Blue Tape Process towards the end of a new house being built where we go through and we find little nooks and little nicks where the construction guys have hit the walls or whatnot and stuff like that to do little patches. We put little pieces of blue tape and they have the painter come through.

Dave Burnett:                    The painters tape.

Thom Dallman:                  Yeah.

Dave Burnett:                    That blue tape.

Thom Dallman:                  Yeah, exactly.

Dave Burnett:                    Oh I got you.

Thom Dallman:                  We usually recommend doing that. Go through your house with a really good eye just making sure that you're looking at the corners of your walls and stuff like that. Put little blue tape up where you need paint touch ups and then yeah, spend a Saturday afternoon going through and touching up the paints in your house. 'Cause a typical buyer will go through the house with that same fine eye looking for things like that.

Dave Burnett:                    Something that you have just overlooked.

Thom Dallman:                  Yeah, because you're just so used to your house you just don't even think about it. I know once again, here I go divulging my own personal information but I have lot of corners on my walls in stuff that have been, 'cause we have the central vacuum system and so that hose drags across the corner of the wall.

Dave Burnett:                    Slowly chip it away.

Thom Dallman:                  Slowly chips it away. So I've got a couple corners that I really need to do some touch up paint on and stuff.

Dave Burnett:                    And a good piece of advice if you are painting your walls and that is at this point if you're going to one of the stores, they put a sticker on there that shows the code they use for your paint. Take a picture of that and just keep it in your cellphone and if you need to go back and buy more paint.

Thom Dallman:                  Down the road.

Dave Burnett:                    You just show them that picture and they can get the exact match for it.

Thom Dallman:                  Exactly, that's a brilliant idea.

Dave Burnett:                    So that way you're not saving cans, you're not saving lids, you're not trying to do all this. It's on your cellphone you can just take it and get that touch up paint.

Thom Dallman:                  And if you've lived in your house for a while and if you have an old can of paint you might want to just go take it and have it color matched anyways because from my understanding that paint can change color over time as it sits in the can and stuff. When you go to do touch up paint it's not going to quite match. It might be a good idea to get some fresh paint too. If the wall's really bad then you might want to just paint the whole wall.

Dave Burnett:                    Do the whole thing.

Thom Dallman:                  Or maybe it's time for just a new color. It doesn't cost very much to just throw a new color up on the wall and stuff like that.

Dave Burnett:                    It's a great way to change the appearance of a room with very little investment.

Thom Dallman:                  Yep, yep.

Dave Burnett:                    Other tips for springtime?

Thom Dallman:                  So yeah, of course the heating and cooling system. That's another thing that the inspectors always seem to be calling out. Heater looks like it's not been blown out or cleaned out for couple of years. Have it serviced and maintenanced. It's like a standard with inspectors. Being prepared and having an HVAC company come through for I think it's like a 100 bucks or a 150 bucks to have them come and clean out your heating systems and replace the filters and stuff like that and blow out any dust that's accumulated over the years and stuff like that. Blow out the air conditioner now as the snow's melted away. Not that we've had much this year but that the tumbleweeds and stuff like that have accumulated and got stuck up in there.

Dave Burnett:                    If your heating and air conditioning unit looks like a Indiana Jones movie, might be time to do a little maintenance on it.

Thom Dallman:                  Exactly. Exactly. Servicing your heating and cooling systems really good idea. And making sure that they maybe even spend a little couple extra bucks to get down and vacuum your vents 'cause a lot of dust accumulates in vents and every time that heater kicks on that stuff gets blown back out again and stuff like that so it's always good to clean that out. I like to tell people to make sure that you clean out your garage.

Dave Burnett:                    Oh boy, here come lecture. Here comes my shame.

Thom Dallman:                  Yeah, you too?

Dave Burnett:                    That's me.

Thom Dallman:                  See here's the thing. I have to do all this stuff 'cause all this stuff applies to me 'cause I'm not, we've lived in our house for eight years and so. But yeah, clean out the garage 'cause once again a cluttered garage gives that feeling of just unorganized and makes it seem fuller and stuff like that. So really good idea to go through, pull out the stuff that you, I always go by the philosophy if you haven't pulled it out in the last five years, get rid of it or last three years, get rid of it.

Dave Burnett:                    Hard to do if you're a hoarder.

Thom Dallman:                  Exactly.

Dave Burnett:                    It's a good piece of advice.

Thom Dallman:                  Exactly. There's some people, there's epoxies now that are for putting on the garage floor is becoming really super affordable. And very popular to give the garage a new look as well. Doing things like that might give you a little bit of extra oomph to the house and stuff. And so far so yeah, just clean out your garage, clean out your house. Deep clean your house.

Dave Burnett:                    Spring cleaning. There's a term that goes with that.

Thom Dallman:                  There's a reason why there's that term.

Dave Burnett:                    And if you're looking to sell your home now's really the time to do it.

Thom Dallman:                  Exactly, exactly. If you don't have the time, for a couple hundred bucks you can get a cleaning team in there. We have one on our preferred vendors list that will come in do a deep clean on your whole house. Spend a couple hours just really getting into the nooks and crevices and getting into that oven and cleaning that out. Most ovens nowadays have the self-cleaning function where you can just pop that on.

Dave Burnett:                    You have to use it though.

Thom Dallman:                  You have to use it. Exactly.

Dave Burnett:                    I have this theory about cleaning companies that it's like a sandwich. If somebody else makes a sandwich it always tastes better.

Thom Dallman:                  Right?

Dave Burnett:                    If somebody else comes and cleans the house, it almost feels cleaner.

Thom Dallman:                  It feels so much cleaner. They have that eye for detail a lot of these cleaning companies. They think about getting down and getting your trim boards and taking a magic eraser to your trim boards to get the scuffs and things off like that. They just really do a really good job of getting into the nooks and crannies. What they probably won't do is clean out your cabinet drawers, another project I need to do one of these days.

Dave Burnett:                    If you've got that junk drawer.

Thom Dallman:                  You've got all these drawers that food as you're cooking and cleaning and living in the house food falls in there and stuff. It's always a good idea to clean those out once a year. Pull out all the utensils. Take a vacuum in there. Vacuum up all the crumbs and stuff that have accumulated. Doing things like that. Making sure that you're looking at cleaning the top of your cabinets and stuff like that. I can't tell you last time we cleaned the top of our cabinets and how much dust there's probably up there right now.

Dave Burnett:                    But it does make a difference.

Thom Dallman:                  Pull out your refrigerator, see how much dust is on the top of your refrigerator.

Dave Burnett:                    And or the stove.

Thom Dallman:                  Exactly. Exactly. Even trying to get a vacuum back behind your washer and dryer 'cause a lot of lint will sneak through some cracks and stuff and accumulate in the back of there. Just little things like that.

Dave Burnett:                    We've given people about two weeks’ worth of work here.

Thom Dallman:                  Right?

Dave Burnett:                    To get on that. But it is important. As we come into spring that if you're looking to get your house or even if you're just doing the spring cleaning. Whether you're selling the house or not, to get these things done. The best way to do it, make a list and then go down the list and check them off as you do them.

Thom Dallman:                  Exactly, exactly. Of course, you've talked at the beginning of this about sprucing up your exterior. Your curb appeal. It's the first thing that people see when they come to your house. Trimming your bushes, cleaning up all the dead leaves that have accumulated under the bushes. Raking up the yard.

Dave Burnett:                    And that whole blue tape thing on the paint that may need to be touched up. Good idea for the outside as well.

Thom Dallman:                  Exterior as well yeah, 'cause as you're, if you have stucco, stucco cracks through the wintertime so you might have some patchwork to do there. Paint, we have some pretty harsh sunshine on the south side of our homes so we got a lot of homes the paint starts peeling very easily on the south side of their home. Checking out things and that's just even if you’re not thinking about selling, really good to do for the longevity of your own home. Keeping that siding protected with paint and stuff like that is always a good idea.

Dave Burnett:                    There's a reason for the paint. Thom, spring is upon us and people starting to think about getting either their house spruced up or if you're looking to sell your home, need to do this. Give Core Group Realty a call. In fact if you want to come over and put an eyeball on your house, an agent will come by and say, "You know what? Here's some of the things you'll want to do." So give them a call. 208 933-7777 or go to coregrouprealty.com. Find out why they say, "You get more with Core."

 

 

 

 

Eagle Home Mortgage

208 917-4983

EagleHM.com

 

 

Core Group Realty

208 639-7700

CoreGroupRealty.com

 

 

 

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