Eagle Cycle Park; Good For The Valley's Real Estate Market?

Posted by: Don Crowell

New To Idaho? Are you an avid mountain biker? Many of the Realtors that have attended Idaho Career Institute' are huge mountain bike fanatics. This blog post is just for you. Check this out, Idaho has an awesome new attraction. Idaho Velodrome Cycling Park in Eagle, Idaho is a very cool attraction for our community. I am thinking Eagle is the NEW North End without the Lucky 13 and Hyde Park. The cycle park is a great place to take the kids or to try mountain biking for the first time. It also offers challenging trails for more experienced riders. The Idaho Statesman had a nice write up on the new facilities. You get the idea but the imagery is lacking so check out this video taken at the Velodrone Cycling Park.

How do places like the Velodrome Cycling Park and the Future Whitewater park in Boise affect the local real estate market. As an Idaho Real Estate Licensee, I can tell you that these are the types of attractions that separate great communities from average communities. These facilities will draw more people to the Treasure Valley and will have a positive impact on everyone in the community.

Within the borders of Ada and Canyon counties, several small communities lay dormant ready for the next wave of working professionals to migrate into the area once again. I would like to see a bike path system that will attract national recognition. The Greenbelt is great but not efficient for commuting purposes because of gaps within the infrastructure (Thanks Garden City For Ruining The Greenbelt). With gas prices so out of control, county and city leaders need to start thinking about ways to facilitate commuters that may be bicycling to work. Why not connect the Valley's communities with a world class bike path system.

Big picture, let’s say we created a path from the Micron/ Federal Way area directly west near Amity Rd to Meridian Rd. A path could run North and South from Kuna to Meridian and on to the Eagle and Star Area's. The existing Greenbelt could run from the Caldwell area through Middleton, Star, Eagle and on into Boise. The path system would not need to be paved entirely but having a designated area for people to ride would increase the safety of our streets and would create another one of these priceless gems to attract new people to our area. TOO BIG?

Perhaps the idea is too big for our community but I hope not. What’s your dream? What would you like to see developed to enhance our community?

Whitewater Park In Boise

Posted by: Don Crowell

In today's Idaho Statesman one of the top highlights was Boise Mayor Dave Beiter's (D) announcement that the city has committed $750,000 for a whitewater park to be located near Esther Simplot park near down town Boise. Private donations have also been made in the amount of 1.2 million dollars. What does this mean for Boise?

I am a big supporter of this project because it will not only beautify the area but it will also add an extra element of distinction for Boise. The park will draw more people to the down town area, and could bring in a lot of tourist from out of state. It may be hard to imagine how a 4 million dollar whitewater park might recoup its cost but think big picture.

One of the biggest reasons people move to Boise is the quality of life and low cost of living. Companies are locating operations where talented people can be found. Every small addition we make to our city will enhance the overall strength of our labor and housing markets. By attracting quality people, Boise will attract quality employers and our community will continue to thrive for years to come.

It may even become fashionable to get a real estate license again?

Citizens Held Hostage

Posted by: Don Crowell

My fellow Idahoan's, consumer confidence is at an all time low and I have to admit my confidence is shaken as well. Here is why, last year my wife and I had the pleasure of paying almost $30,000 dollars in taxes, ouch! Then last weekend we had to pay $10 per night to camp near Featherville, Idaho (Wait it gets better). My wife and I set up camp late Friday night which included unloading our four wheeler at our camps parking spot. Saturday morning we awoke to find that the camp attendant had been into our camp, inspected my four wheeler and left me a ATV regulations pamphlet outlining ATV vehicle rules for the camp ground. I did not have a vehicle license registration (License Plate) so I could not drive my ATV within the campground. I was told the fine was $200 if I was caught, meanwhile other ATV's with plates, drove by with at high rates of speed or in one instance with three riders on one machine. The distance from my camp spot to the end of the campground was only about 300 ft. but it seemed so ridiculous I lost my enthusiasm to explore the Boise National Forest last weekend.

I realize that not all people are fans of ATV's but this is America. We are Idahoans', the last thing we need is Washington D.C. bureaucrats regulating us while looking over our shoulders, inspecting our vehicles and charging us fee's to access our lands. Idaho has fallen victim to bureaucratic blundering that results in the yearly destruction of our forest via wild fires, forest that could be harvested by local companies like Boise Cascade in a smart, environmentally friendly way. Idahoans should be outraged at the dictatorial mandates that plague our state.

I would encourage everyone that see's my post to write an email or a letter to an elected official from Idaho. Even if you think I am crazy, I would still encourage you to correspond with these offices, it lets the politicians know we are engaged and concerned about what is going on within our state and this country.

Butch Otter

Larry Craig

Mike Crapo

Bill Sali

Mike Simpson

Train Depot

Posted by: Don Crowell

Boise's well known gem

F.S.B.O. Vs Full Service Real Estate Agents

Posted by: Don Crowell

I have a banker buddy (You Know Who You Are!) that recently told me he was going to buy a For Sale By Owner (FSBO) so he could get a better price? Realizing that bankers tend to under appreciate the work of realtors and vise versa.

I realized the problem comes down to education. Buyers and Sellers go FSBO for many reasons and understanding those reasons can help full service agents better explain the services they provide.

Why Do People Choose FSBO?

1. Seller Can't Afford To Pay A 6% Commission
2. Seller is a do it yourselfer and doesn't need a real estate agent to sell a house
3. The sellers last real estate agent didn't follow up, never called me and didn't sell my house

What Value Do You Add As An Licensed Idaho Real Estate Agent? How do you communicate in a short phone conversation? Mr. Brown, I see you have your home listed For Sale By Owner, I am a licensed agent representing several buyer and your home happens to match several criteria they are looking for. Can you provide me with the required Sellers Property Disclosure Form?  What’s That? Mr. Brown, that is a legal document all Sellers are required to provide to Buyers in Idaho. Steps like that show demonstrate the value of having a licensed agent handle a real estate transaction. Boise, has many great real estate agents. So I am going to invite them to contribute to the post. Keep all comments professional. If you need a refresher in Property Disclosure consider our class this month.

What A Licensed Idaho Real Estate Agent Can Do For You

Posted by: Don Crowell

Posted by: Don Crowell

Economic Woes' push people to improve skill sets as job markets tighten up across the country. It is no surprise that more and more people are heading back to school to pick up needed skill to compete in the global market place. Lifelong learning is a practice that everyone should embrace.

Consider a Certificate Program, they give you the credentials you need to land entry level jobs without requiring you to attend a 4 year university and they are a fraction of the cost.   Here is a perfect example of the training you can get for under $1000. Accounting Career Certificate Program (540 contact hours) This is the type of program that can mean the difference in getting a job or losing a job. Boise's job market is tight right now with layoffs at Micron, and other major employer's, people can expect the competition to continue to grow. Don't wait until you are out of a job, take a class that will help you in your career today. Check these topics out:  

Idaho Real Estate License - Now Only $199 Per Class (Boise Only)

Accounting - Now only $998 (Online)

Home Inspection Now only $588 (Online)

Good luck and take action today!

Remember Debtors' Prison?

Posted by: Don Crowell

Remember Debtors Prison? This is where people went when they didn't pay back their debts. Would we have a foreclosure meltdown if people couldn't simply walk away from their liabilities? Often when people lose a home to foreclosure, they leave the house trashed, with broken window, holes in walls, ripped up carpet and that’s just the inside. Yards are transformed into wastelands of junk and trash adding to the expensive process of taking back a property.

Bad things happen to good people but accountability should not be ignored, several of this country’s best and brightest served time in debtors' prison including Robert Morris, signer of the declaration of independence, a man who loaned George Washington $10,000 dollars of his own money to fight the English would later spend 4 years in debtors prison do to poor land speculation.

Should Idaho place homeowners in jail for missing mortgage payments? Most people would say it is a ludicrous suggestion, but consider the idea for a second. Would a investor walk away so quickly from a bad investment if it meant doing six months in the Ada County jail? What if people had to spend a day doing community service ever time they made a payment over 45 days late. People might manage their finance a little more cautiously. New Sally Mae restrictions will prevent people that opt-out of their mortgage via short-sale or foreclosure from getting financing in the future. Future penalties are not effective remedies for today's problems. Bring back the threat of prison and people will find a way of fulfilling their debt obligations. Click Here!

What are your thoughts?

Treasure Valley Short-Sales & Foreclosures

Posted by: Don Crowell

Treasure Valley Real Estate,

Is the short-sale and foreclosure myth making your life difficult as a buyer's agent. Today there are hundreds of short-sales and foreclosed homes on the market in Boise, Meridian, Kuna, Eagle Nampa and Caldwell just to name a few. Running the Idaho Career Institute Real Estate School I meet dozens of Idaho’s best agents every month. All agents have slightly different opinions on short-sales and foreclosures depending on various factors. Here are some challenges you may encounter when working with a Buyer that intends to occupy an shot-sale or foreclosed property.

Problems

1) Unreasonable Buyer Expectations: Your Buyer has read all the headlines, and spent $10,000 on an infomercial program that promises that “anyone can buy a house for $500 and flip it to make $200,000”. Now they will settle for nothing more than .30 on the dollar.

2) Increased Cost of Doing Business: GAS, GAS, GAS, and it isn’t a chemical attack, it is the insane price we pay to power our cars. Energy prices are not helping our business, and if you are an agent that works the entire Valley from Caldwell to Mountain Home you know firsthand how expensive it is to show buyer’s properties day in and day out.

3) Poor Response Time And Difficult Negotiations with Banks: Banks are slow, disorganized and not in the business of losing money and many deals take 60-90 days to negotiate. Most buyer’s get impatient and have timelines that don’t fit well within the short-sale process.

4) Lack of Financing Options: Almost all 100% financing programs have gone away, in fact many lenders will tell you that 75%-80% of the loan programs that existed a year ago have gone away completely. This means many of your buyers that didn’t buy 6 months ago man no longer be eligible for the good loan they were told they qualified for 6 months ago. The market is changing faster than most people can keep up with.

Solutions

Great Don Crowell you told us everything we already know, but what do we do to improve our conversion rates?

1) Set proper expectations with your Buyer’s right from the start. A 10% discount is reasonable and a 20% discount may be possible but beyond that it will be difficult to get a banks approval of a deal for a discount that is better than 20% unless you are an investor buying a portfolio of properties.

2) Charge a retainer fee. If you are adding value and not just sending your client data after he or she finds a property on Craigslist, you should consider collecting a $100 upfront fee to cover the cost of your time and gas. Many clients will associate this fee with quality service and not mind paying it. You can rebate it back at closing if needed.

3) Don’t Take NO for an Answer: When dealing with banks you will find that many departments have a say in the process, but nobody wants to make the final decision because then they are accountable.

4) Pre-Qualification: 100% financing through USDA Rural Development is available. Investor’s need to know that in many instances they may be required to have 20% down. Buyer’s that intend on occupying the property should be prepared for a long drawn out process.

This is the first ICI Treasure Valley Real Estate posting and we hope to be adding more on a daily basis. Send your feedback to don@idahocareerinstitute.com

Thanks

Don Crowell

Intro To Idaho Real Estate Training Blog

Posted by: Don Crowell

Is Treasure Valley Real Estate activity on the rise? Ada County Association of Realtors President Dan Hernandez thinks so. Click here to read the Idaho Statesman's Feb. 20, 2008 Q & A Session with Dan. http://www.idahostatesman.com/idahoeconomy/story/300293.html I constantly meet real estate sales people from all over Idaho that complain that this market is as bad as it’s been since the Great Depression. That might be an over statement, but one thing is for sure, it is difficult being an Idaho real estate agent these days. I keep telling my buyers now is the time to buy, you won't know we hit the bottom of the market until we are 9 months into a recovery. Why are we not seeing more buyer's getting excited about today's market conditions.Is the Idaho Association of Realtor’s doing enough to promote our industry, is your broker doing what it takes to help generate business for your office? Are you keeping up to date with the latest marketing trends to ensure you are reaching potential customers? What is your strategy for 2008 and does it include a web based component? If not you should check out ICI Internet Marketing class. My favorite e-business website is Internet Business Mastery and if your an entrepreneur you may also find it helpful. Well that’s all folks. Don