Boise Real Estate Podcast with Graham Mackenzie

Today I want to talk about technology and all of our new advancements at MacKenzie Realty. Click here to check out our app! I’m very excited about the new technology we have to offer. So, today, I’d like to highlight some of these tools, which will help me better serve you as an agent and help you find your future home. I want to start by talking about our new app. If you haven’t downloaded it yet, I highly recommend that you do. Whether you’re looking to buy a new home or you just want to stay up-to-speed on home values, it’s awesome. Within the app, there are a variety of ways you can search for homes, such as by the number of bedrooms or bathrooms, by price, or by area. We would love for you to try it out and give us some feedback. One of the things we noticed among people using other apps is that they became frustrated by the amount of inaccurate information they contained. For this reason, we are working extremely hard to provide up-to-the-minute information for you about our properties. “Whether you’re looking to buy a new home or if you just want to stay up-to-speed on home values, our app is awesome.” Even if you’re not currently looking, this app will show you valuable information, like what your neighbors’ homes are selling for. It can also provide market snapshots to you.  Another thing that I am super excited to share is that we now have Keller Mortgage available to our Idaho clients. This mortgage, only available through Keller Williams agents,  offers a ZeroPlus loan, helping save people thousands of dollars on a purchase or refinance. When you download the app, you can submit a loan application through it and get an estimate of what it will cost you to refinance or buy a new home with Keller Mortgage. If you have any additional questions about our new app or Keller Mortgage or if you’re interested in buying or selling, please feel free to reach out to us. We look forward to speaking with you soon.

Fall in Idaho means one thing: Hunting season. Are you prepared? If not, my friend Scott from Idaho Guns & Outdoors has you covered. Idaho Guns & Outdoors has all the hunting gear you need. They have an extensive inventory of new and used guns, so come on down to Idaho Guns & Outdoors at 8249 West Overland Road and get yourself ready for the season ahead. Their expert staff is always happy to help guide you in the right direction, whatever your needs might be. To see my full message, watch this short video.

Our team is growing, so today I’m excited to introduce you to our newest agent: Cynthia Matheny. Before coming to our team, Cynthia worked for nine years as an agent in Charlotte, North Carolina. She was selling over $18 million in real estate there and had a small team, but decided it was time to make a change.  Cynthia has much more to offer than just her expertise as an agent. She also works as a business coach and runs a couple of amazing classes, like The Art of Asking Powerful Questions.  Cynthia has also become our resident expert on the DISC assessment—a test which analyzes personality based on four aspects: dominance, influence, steadiness, and conscientiousness. The class she teaches on this assessment, called Selling With Style, helps people understand who they are and why they act the way they do. She highly recommends taking this class in order to better understand and navigate the relationships in your life, both business-related and personal.  “Cynthia’s upcoming Selling With Style class can help you better connect and communicate within any relationship in your life.” The next Selling With Style class will be on Thursday, August 30, so be sure to mark your calendars. You don’t have to be in sales or real estate to join. This class can help you better connect and communicate within any relationship in your life, whether it’s with a spouse, friend, a coworker, or otherwise. If you have any other questions or would like more information, feel free to reach out to either Cynthia or myself. You can get in touch with Cynthia by email at cynthia@cynthiamatheny.com or by phone at (208) 724-7148. And, as always, if you have any other questions or would like more information from me, please reach out. I look forward to hearing from you soon.

If you are looking to buy, sell, or invest in Boise or the surrounding areas, there is a strong chance you will encounter a multiple offer situation.  So, today I would like to share a few important tips on how to navigate this currently common scenario. Let’s start with what buyers should keep in mind:  1. Treat your offer like a resume. Your offer will represent your potential as a buyer, so it is important to present it (and therefore yourself) in the best possible light. Make sure your offer is accompanied by a pre-approval letter and an earnest money deposit, as well. Doing this will indicate your commitment to the seller. And, like a resume, your offer should be clean, clear, and precise. The agent you work with to craft this offer will also have a major impact on the success of your deal. It is crucial for you to work with a Realtor who is a strong negotiator and can help you develop an offer that appeals to a seller’s specific needs. Finally, some buyers may consider including a personal “love letter” as a supplement to their offer. This letter should describe what winning this property would mean for you and your family, and could be the key to swaying a seller’s decision in your favor. “Sellers must think critically about what it is they hope to gain from a deal, and then filter their choice of offer through that set of priorities.” 2. Create an offer with more than just a strong price. Truthfully, a seller’s decision is not always just about money. Terms can often be equally important. Different sellers will have different personal needs, so keeping these in mind when making an offer could make or break your success as a buyer. Have your agent contact the listing agent and discuss items that are significant to the seller. This will help to position you well above competing offers.  Moving on, let’s briefly touch on some advice for sellers facing multiple offers. First and foremost, you must determine what matters most to you. Think critically about what it is you hope to gain from the deal, and filter your choice of offers through that set of priorities. Whether money, time, or something else entirely is the driving factor behind your decision between offers, the key is to know what you want and to seek that out.  If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Have you tried running or walking the trails outside of Boise lately? Recently I was out on the trails doing some volunteer work when I met Holly Finch of Pulse Running and Fitness Shop in Meridian. Holly and I got to talking and we decided it would be fun to join me for a video, talk about a recreation activity we both enjoy, and answer some questions you may have. Whenever people ask Holly about trail running, two questions in particular come to light. 1. What sort of wildlife do you encounter? According to Holly, a lot of people ask this question because they’re concerned about bears or coyotes. She says that while there are bears and coyotes, it’s rare that you’ll see them. If you do, they’re mostly harmless, and part of the fun of being out on the trails in the first place is the chance you’ll see them. If that kind of thing is on your mind, here’s what I have to say: Don’t worry about it. Embrace nature (not the bears, coyotes, or snakes—that would be bad), have fun, and enjoy your time on the trails. Your heart and soul will thank you for it. “Embrace nature, have fun, and enjoy your time on the trails.” 2.  Do I really need trail shoes? While trail shoes aren’t required, the more you get into trail running, the more you might appreciate them. Trail running shoes have a stiffer sole that can better protect your feet from rocks. They’re also a bit more waterproof, which can come in handy if you have to cross a stream or you’re out in the snow. If you don’t have a pair of trail running shoes, I recommend you give Holly a visit at her shop in Meridian. On that note, I want to announce a contest we’re holding. If you post a picture of yourself out on the trails on our Ridge to Rivers Realty Facebook Page between now and May 31, you’ll have a chance to win a free pair of trail running shoes. The winner of this contest will be selected at random and announced on May 31. In the meantime, if you’d like to know more about the trail network in the Boise foothills, visit www.ridgetorivers.org. You can also give Holly a call at (208) 884-1141 or look her up at www.pulserunning.com. As always, if you have any other questions for me—trail running, real estate, or otherwise—don’t hesitate to give me a call or send me an email. I’d be happy to help you.

The question of whether you should wait to buy in our Boise market boils down to affordability. To determine your affordability, we must examine the one other factor that affects affordability just as much as appreciating home prices: rising interest rates. For example, right now in Ada County, the median home price is $290,000. At the beginning of 2018, rates were at 3.95%, so the monthly mortgage payment for a $290,000 home would’ve been $1,239. Since January 1 rates have risen to 4.5%, which means that same monthly payment of $1,239 now only allows you to afford a $272,000 home. That’s a 6.2% reduction in buying power. “Rates are expected to rise two or three more times this year.” Keep in mind, rates are expected to rise two or three more times this year. If they climb as high as 5%, that would reduce your maximum affordability with a $1,239 monthly payment to $256,000—a 12% drop in buying power. So to answer your question, you can either roll the dice and wait to buy on the unlikely chance that prices and interest rates will go down, or you can buy now and lock in a comfortable mortgage payment. If you have any other questions about your affordability as a buyer or you have any other real estate needs I can assist you with, don’t hesitate to reach out to me. I’d be happy to help you.

What’s the latest news from our current market? Which two home maintenance tips do you need to remember now that spring is here? Let’s start with an update from our market. The average purchase price in Ada County is about $283,000, which is an increase of 9.7% compared to this time last year. Our average days on market is 39 days, which doesn’t seem like a lot, but it is for our market. In Canyon County, the average purchase price is $185,000, which is an 11% year-over-year increase. The average days on market in this area is slightly lower, at 29 days. One trend we’re noticing is that as prices increase in Ada County, some buyers are turning their attention toward Canyon County where homes are more affordable. Now, onto my two maintenance tips. “The average purchase price has risen in both Ada and Canyon County since last year.” First, don’t forget to change your HVAC filter now that spring is here. This is something people don’t often think about, but doing it can improve your home’s air quality, efficiency, and longevity. The Filter Factory Outlet near Maple Grove and Franklin is offering a $2 discount for all their filters, so this great upgrade comes cheap as well. Second, replace the batteries in your smoke detector. I’m sure you’ve played the game Marco Polo before, but have you ever played Marco Polo with your smoke detector at 2 a.m. when its batteries have gone out? Save yourself some time and the aggravation of a sleepless night and get your smoke detector’s batteries replaced. If you have any more questions about our market or these home maintenance tips or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to us. We’d be glad to help you.

Today, we’re doing something a little different. Instead of talking about real estate, I want to share a fun activity for those of you who live in Boise: fly fishing. Lewis Hunt from Idaho Angler is here to talk about some of the primary fishing opportunities you have right now for trout and steelhead. For the next month, you can find trout in just about any stream in Boise. Lewis recommends checking out the Boise River in town, which has been fishing quite well. The south fork of the Boise is just starting to fish, and the Owyhee River has been fishing for the last several weeks. As we move through the month and the weather starts to get warmer (hopefully), we’ll see more stillwater fishing. Check with Lewis at the Idaho Angler; he’ll let you know what’s fishing hot and what you need to fish those places ahead of time. “Fly fishing is a great hobby, and Lewis Hunt from Idaho Angler is here to give you some tips on where to find trout and steelhead this season.” The steelhead are going to continue to fish as well. For fly fishing, it’s going to be a nymphing game until the weather gets more consistent. You can fish a lot of streamers in town and on the Owyhee River, but it’s still mainly a nymphing game. The Boise River is fishing as good as I’ve seen it in the last couple of decades. If you are interested in steelhead, you have a few opportunities in the south fork of the Clearwater River. There’s some salmon outside of Riggins, but salmon is mainly between Stanley, Challis, and Salmon. A lot of people think that it’s all nymph fishing or indicator fishing this time of year, but you can still swing some flys. Use a slower swing and find some slower water. You can stop in to get some flies from the shop and see what’s going on before you go out. If you have any questions, you can call Lewis at the shop at 208-389-9957. As always, if you have any real estate questions, just give me a call or send me an email. I would be happy to help you!

We have some helpful tips we wanted to share with homebuyers to help you win in a competitive market: 1. Put your best foot forward when you make your offer. Part of that is having a pre-approval ready to go. Your pre-approval will let you know what your budget is and show the seller that you are serious about purchasing a home. 2. Make your offer as clean as possible. One of the best ways to do that is to have some money set aside to pay your own closing costs. “Make sure that your pre-approval letter is ready to go.” 3. Get your current home on the market now. That can make a huge difference between your offer getting accepted on the new home or not. 4. Be prepared to make a strong offer. Of course, we will negotiate to get you a good deal. Keep in mind that sellers are getting 99.1% of the listing price in today’s market. That means you should make an offer at or above list price. These are just a few general tips that can help you get a home in today’s competitive market. We realize that everyone’s situation is a bit different, so give us a call if you have any questions. I would be happy to help you!

Not a day goes by without me hearing the question, “Should I wait until spring to put my home on the market?” With this question on so many people’s minds, I want to address it today. The fact of the matter is that we have a shortage of inventory right now. This means that our current market presents a tremendous opportunity for sellers to maximize what they can net for their homes. Another benefit of listing now instead of waiting until spring is that you don’t have to worry about landscaping. The only thing you need to worry about is your home’s interior. “Our current market presents a tremendous opportunity.” Also, there is a lot more competition in the spring. With more homes going on the market during those warmer months, buyers can afford to be more selective. Wouldn’t it be nice to be able to enjoy your spring with the difficulties of your home sale behind you? While other sellers are just beginning to hit the market, you can enjoy the season with your family knowing your transaction has already been settled. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.