This month has certainly been a busy one for TripleCord and for seemingly every other brokerage in the valley as well.  Buyer demand remains high, and the market still lacks adequate supply.  This is causing homes to continue to move on and off the market relatively quickly.  In addition to low inventory pushing up prices, historical data going back to 2004, shows that homes sold in June, July, and August also bring higher prices.  This years’ home sale prices in our area are following the same trend. 

With busy seasonal activity and low inventory pushing prices up, eager sellers often make the mistake of listing their homes too high.  Buyers have become savvy to this practice, however, and are not lured to offer on overpriced properties.  Thus, sellers quickly find that even in this “high demand-low supply” market, an accurately priced home is essential to attracting serious offers.  As this is realized, price reductions have already and will continue to be a common occurrence in the later summer months. 

Be cautious of not getting wrapped up in the hype of this crazy real estate season.  If you are thinking of buying or selling a home, please contact us!  We would love to sit down with you and share more about the true home values and market conditions so you can make an informed decision on how best to move forward in achieving your real estate goals this summer.

Listed below are the current Ada County market statistics for May 2017 compared to May 2016: 

• Closed sales – 1,005 (down 2.7%)
• Median Sales Price (including new construction) - $264,000 (up 9.5%)
• Days on the Market - 33 (down 9.5%)
• Pending Transactions - 1,805 (down 2.5%) 
• Inventory: 1,866 (down 11.7%) 
• Months of Supply - 2 (down 9.1%)

We also wanted to show how the number of months supply of inventory fluctuates based on the price range.  The current month’s supply condition in each price range is as follows: 

• $159,999 – or less: 0.5 months
• $160,000 - $199,999: 0.6 months
• $200,000 - $249,499: 1.3 months 
• $250,000 - $299,999: 2.2 months
• $300,000 - 399,999: 2.5 months
• $400,000 - 499,999: 3 months
• $500,000 - $699,999: 3.9 months

 If you’re interested in knowing more about the current state of the market, check out these informative May 2017  Boise Regional Realtors Market Reports for both Ada and Canyon Counties.  

In the early 1800s, Idaho was part of the Pacific Northwest known by Americans as the “Oregon Country.”  The region was heavily disputed by American settlers and British and French Canadian fur traders.  Great Britain, who claimed the territory as their own, even called it by their own name—the “Columbia District.”

During the presidency of James Monroe, America and Great Britain signed the Treaty of 1818, which resolved standing boundary issues and allowed for joint occupation and settlement of the Oregon Country.  Over time, however, joint control grew less tolerable for both sides and talk of war increased.  Ultimately, in order to keep the peace, it was decided that clearer territorial lines needed to be set.  So, the United States and the United Kingdom signed The Oregon Treaty of 1846, establishing the boundary between the United States and Canada at the 49^th parallel.

In 1853, the Oregon Country was divided across the middle of Idaho, with the lower half of the state residing in the Oregon Territory and the upper panhandle in the Washington Territory.  On March 4, 1863, an act of Congress divided the land yet again.  This divide established the Idaho Territory and was signed into law by President Abraham Lincoln. Originally, the Idaho Territory included all of the present states of Idaho and Montana as well as all but the extreme southwestern corner of what became Wyoming. The territorial capital was initially setup in Lewiston, Idaho, but was moved to Boise two years later, where it remained through statehood. 

Over the next several years, demand from Idahoans for federal representation increased, and Idaho obtained statehood on July 3, 1890.  Idaho is the 14^th largest, 39^thmost populous, and the 7^th least densely populated of the 50 U.S states.  We are fortunate that, despite population growth, our government has sought to maintain large areas of protected wilderness for outdoor recreation and scenic enjoyment.  With its amazing mountains, rivers, trees, fields, lakes, and streams, the state certainly lives up to its official nickname—Idaho truly is a “gem” of a place to live!

When buying a home, most people probably first think of the financial responsibility.  Don’t let yourself forget, however, about the time and labor that home ownership also requires.  Just like regular oil changes for your car keep your engine happy and healthy, keeping up with regular home maintenance tasks will keep you from future headaches and wasted money.

It can be intimidating to think about these various tasks, especially if you’re a new homeowner.  It’s a long list — there’s no denying that.  If you find you need help, please call one of our preferred vendors listed HERE to help you out.

In order to maximize your efficiency and actually get all of these tasks done, you might want to create a home maintenance calendar for yourself.  Whether online or on paper, you can jot down small, regular tasks for each weekend and not be too overwhelmed.

HERE is a list of tasks that need to be done monthly, quarterly, and biannually, as well as a list of tasks to be completed seasonally.  Not every expert agrees as to which task needs to be done in which season, so this isn’t a black and white list, necessarily.  Do what works for you and your schedule, and as long as all these things get accomplished, your home will be happy for years and years to come.

http:// http://www.triplecordrealestate.com/blog/client-appreciation-dinner-speech/Last month I had the pleasure of spending the evening with several past clients, friends, family, and service providers who have helped support me and TripleCord Real Estate through the past 12 years of my real estate career.  I was overwhelmed with thankfulness as I looked out over all the faces that were there—as well as thought on those who were not—and rejoiced at how the Lord had let me be a part of the lives of so many amazing people. 
 

Together, those who attended enjoyed a delicious Hawaiian buffet, delectable brownies, good table conversation, the beautiful scenery of the Boise River and the Barber Park Event Center, live music, a raffle, introductions to the agents of TripleCord, and the amazing story of what God has done in my life and through our business. 
 

As I mentioned in my speech that evening, it is a privilege to be a real estate agent and to be invited in to be part of one of the biggest life decisions—and probably the biggest financial decision—many people make.  We feel incredibly honored when clients choose to trust us with that role and allow us to walk alongside them through the process.  Our hope is that we can continue to use the gifts God has given us in this vocation we so enjoy to love and serve people well! 
 

If you are interested in learning more about the history of TripleCord, our agents, or what our company is about, you can view my speech from the evening HERE.  It is somewhat long, but hopefully will be a pleasant read and share some of the flavor of last month’s party if you weren’t able to attend.
 

Thank you all for supporting us with your business and for trusting us with the referral of your coworkers, friends, and family members.   We cannot say enough how much each of you mean to us and how grateful we are to be a part of your lives. 
 

 ^“I do not cease to give thanks for you, remembering you in my prayers, that the God of our Lord Jesus Christ, the Father of glory, may give you the Spirit of wisdom and of revelation in the knowledge of him” (Ephesians 1:16-17).