Some may remember the late 70's, early 80's when interest rates were in the high teens and low 20's.  The country was in recession and there just wasn't cash in deals. So we got creative.

Thank goodness for that experience. I just helped a seller get out from under a rental he owned and a buyer to get into their first home by recalling some of that old experience. The seller owned the property free and clear, but lived 800 miles away and was tired of low rents, vacancies and repairs. We had tried to sell it, but the market was below acceptability.  The tenant has been at the same job for the past eight years, mad good money, but because of medical collections just were not financable. The perfect storm was about to come together and make both parties happy.

For the seller: he transferred the liability of the property to the Buyers, retains a security interest in the property, obtained his asking price, and created a monthly income much higher than rent.

For the Tenant: They don't have to move any more, can put sweat equity into the property and keep it, save a ton in closing costs, and make monthly payment that is manageable.

Downside: In three years the balloon payment will come due and the tenant/buyer will need to get financing or talk the seller into extending it another period. Over the past several years with financing so free and easy some of these old tools laid rusty in the bottom of the tool box. Now we must get them out and clean them up if we are to be most effective to our clients.

I love selling real estate in Nampa Idaho!

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Last night in a 3 to 1 vote Nampa Idaho city council took a bold step to pave the way for a much needed library in downtown Nampa.  Bold in that the funds will be taken out of the city's reseve temporarily while the court decide if the city's urban renewal district will be able to go ahead and bond for $15.5million to fund the project.  The bond money would replace the reserve funds.  The monies approved last night will allow the city to move ahead and purchase the land now.

Location of the new library has been kept a secret while negotiations for the land went on.  The city block between 3rd and 4th streets south and between 11th and 10th Avenues south is the property in question.

This is just the beginning of the city's commitment to revitalize the downtown area.  This move is expected to improve values of the downtown Nampa Idaho real estate.

Building a new custom home is both fun and rewarding.  To begin with go to my home page and click on my custom home button.

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Kastera Development recently broke ground on a $97 million, 177-acre Master Planned Neighborhood in south Meridian. The project is called Cavanaugh.

Cavanaugh will feature 548 homes, including apartments, urban-style lofts, condominiums, single-family houses, patio homes and estate-sized homes.  Home prices will start at about $220,000 for an alley-accessed home to over $2 million for an estate-sized house overlooking the Treasure Valley.

Cavanaugh will also contain:

I don't know what you are paying at the pump.  Here in Meridian, Idaho it is up to about $3.35/gallon, and it gets higher each time I fill up!   In the Real Estate industry, we spend a lot of time in our cars, so I really notice the rising gas prices.  I came across these helpful hints, and thought I would pass them along.
Only buy or fill up your car or truck in the early morning when the ground temperature is still cold. Remember that all service stations have their storage tanks buried below ground.

Well, we had one of our first beautiful, warm (70* which I know isn't warm for some parts of the country, but for us that was almost hot!) days last Saturday.  It made me want to get out the camera and snap some photos.

Then I remembered that Shelly Houston from the Meridian Mayors office had already taken some fantastic pictures that she gave me permission to share.  Since I am naturally lazy, I thought I would not re-invent the wheel and just use hers....

Well, I have had a terrific day in Real Estate today!  We received 2 full price offers on a Meridian Idaho Home for sale!!! We ended up taking one with No contingencies, and it will close in 30 days. Sweet! We may even get the home next door sold as well. These are homes priced in the high threes too, not starter homes for our market!

1.  Selection, selection, selection. There are over 6400 single family homes on the market in Ada and Canyon counties in Idaho. Regardless of your price range, there are plenty of houses from which to choose.

2.  No Bidding Wars. In 2005 many clients would bid on multiple homes before they were able to purchase one. Other buyers bid the properties up substantially from the original listing price. There is less competitive bidding in this buyer's market.

 

Bridgetower is a new Master-Planned Community in North West Meridian. It has many amenities that make it very sought after, even in today's slower Real Estate market.  One of the most obvious, is it's TWO community swimming complexes. Bridgetower is a large community, but with two swimming complexes, everyone is close to the pool. How nice is it to enjoy having a pool, but not have the maintenance headaches, or worry over small children getting hurt? There is also a community park with playground, and walking and bicycle paths.

Right now is a slower than usual market, but job transfers and life changes know no difference and you mus sell your home.  So what do you do?

Here are some suggestions: 

1-Make your home feel like the most welcoming house on the block so buyers fall in love as soon as they pull up.  Let them picture themselves hanging from the swing on your front porch or barbequing on your back patio or relaxing in front of the warm fire on a cold winter’s day. 

2-Eliminate clutter by removing four out of five items in every room.  Move it to a storage unit, put it in boxes neatly placed in the garage just move it out.

3-Keep the “homey” feeling.  If you strip a home of its personality you rob it of what matters most.

4-Take a risk by draping a red tapestry from India over one chair, putting up a string of Christmas lights even if it isn’t Christmas and turn them on at night, planting new flowers or hanging a basket of flowers for street view.

5-Don’t spend a lot of money by going to yard sales, flea markets and antique stores.  Paint is a very inexpensive way to change the WOW factor. 

6-Just straighten up- make sure the wall hanging are not crooked, clothes are not hanging on the elliptical machine, and beds are made.

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Want quick answers to your questions? Fill out this form and I'll get back to you ASAP, or give me a call at (208) 866-8560. First   Last   Phone   Email   Buying or Selling? Buying Selling   Comments / Questions