North Idaho Real Estate Blog Keeping the “invisible” property owners of Kootenai County in-the-know, as if you were here on a daily basis. 208.769.9464 * dreamteam @ nidt . com * Author: Christina Ethridge, REALTOR(R)

Despite depreciation in a few other areas of the country, North Idaho weathered 2007 well. The Coeur d’Alene MLS reports appreciation at 4.3% and OFHEO reports appreciation at 3.93% for the greater Coeur d’Alene area (to include Post Falls, Hayden Lake, Rathdrum, etc).

Nationally, new construction sales compromise approximately 12% of sales. In Kootenai County new construction sales are 27% of all sales. This is the main reason resale prices have remained controlled throughout Kootenai County. Until new construction sales become a lower % of the overall sales, this will continue to be the case.

Builders in Kootenai County were (and are) smarter than the average bear. They didn’t get stuck with ridiculous amounts of inventory “in the ground” which has allowed them to maintain their price points. This has been a tremendous asset for North Idaho home buyers and sellers.

Search North Idaho Homes for Sale * Search Kootenai County Homes for Rent

© 2008 North Idaho Dream Team LLC North Idaho Real Estate. If you are reading this outside your feed reader or on any blog other than the North Idaho Real Estate blog, the site you are looking at is guilty of copyright infringement. Please contact legal@nidt.com so we can take legal action immediately. The North Idaho Dream Team services the greater Coeur d’Alene area helping buyers and sellers of real estate achieve their goals and dreams. Questions? Comments? Email us!

Posted under For Investors, For Sellers, Market Reports

We’ve just updated our website with this week’s newest rentals now available. If you are looking for a home, condo, town home or apartment for rent Coeur d’Alene, Hayden, Rathdrum or Post Falls, Idaho, check out our website and view photo tours and more information on properties available for rent. You can also get an application and more information about renting from us on our property management website: D&M Management LLC.

Posted under For Renters

 Wow, the most we’ve seen since 1996:

A series of four more winter storms is likely to blow into the area through early February, National Weather Service meteorologist Kerry Jones said Monday. The first was expected to track across the area last night and early today, dropping a load of light snow, Jones said.

“This is going to be a really active weather week,” Jones said. “We’re just not getting a break.”

Each storm is predicted to unload 4 or 5 inches of snow, and with below-freezing temperatures likely to cool the air throughout the week, that snow will stay where it falls.

The intensity of last weekend’s storm, which unloaded 21 inches of heavy, wet snow in Coeur d’Alene, is unlikely to occur again this week. Cold temperatures will make the snow lighter and drier, and none of the fronts is expected to last as long as the weekend storm, which snowed 38 consecutive hours, climatologist Cliff Harris said.

Causing havoc everywhere from collapsing roofs to sinking boats.

Here’s what this means:

1. For properties managed by D&M Management LLC, snow plowing expenses will be higher, simply by virtue of the fact that we are getting 3-5″ of snow every day.
2. This amount of snow tends to slow down potential buyers and renters therefore properties very well may see low activity over the next 2-3 weeks.
3. For properties that are listed for sale through us, are vacant, are not under contract with D&M Management LLC and the owners live more than 50 miles away, we are shoveling pathways from the street to the door so that the property can continue to be shown to potential buyers.

Posted under Activities and Events

 Wow, the most we’ve seen since 1996:

A series of four more winter storms is likely to blow into the area through early February, National Weather Service meteorologist Kerry Jones said Monday. The first was expected to track across the area last night and early today, dropping a load of light snow, Jones said.

“This is going to be a really active weather week,” Jones said. “We’re just not getting a break.”

Each storm is predicted to unload 4 or 5 inches of snow, and with below-freezing temperatures likely to cool the air throughout the week, that snow will stay where it falls.

The intensity of last weekend’s storm, which unloaded 21 inches of heavy, wet snow in Coeur d’Alene, is unlikely to occur again this week. Cold temperatures will make the snow lighter and drier, and none of the fronts is expected to last as long as the weekend storm, which snowed 38 consecutive hours, climatologist Cliff Harris said.

Causing havoc everywhere from collapsing roofs to sinking boats.

Here’s what this means:

1. For properties managed by D&M Management LLC, snow plowing expenses will be higher, simply by virtue of the fact that we are getting 3-5″ of snow every day.
2. This amount of snow tends to slow down potential buyers and renters therefore properties very well may see low activity over the next 2-3 weeks.
3. For properties that are listed for sale through us, are vacant, are not under contract with D&M Management LLC and the owners live more than 50 miles away, we are shoveling pathways from the street to the door so that the property can continue to be shown to potential buyers.

Posted under Activities and Events

Idaho has 264,768 mortgage loans. 3.46% are past due and .07% are ‘in foreclosure’. Idaho’s sub-prime numbers show 14.39% are past due and 5.52% are ‘in foreclosure’.

Kootenai County numbers show 228 properties are currently past due (delinquent over 90 days but no foreclosure proceedings currently filed), 307 are “going into” auction (proceedings have been filed giving the home owner 120 days to either sell or bring current their loan) and 90 are bank owned.

Kootenai County ‘notices of default’ are up in 2007 49.60% to a total of 558 from 2006’s total of 373. This is still lower than our peak in 2001 of 781.

The best bargain, when it comes to buying foreclosure properties is at the ’short sale’ point, not the ‘bank owned’ point. Now, it’s much easier and less time consuming to buy a ‘bank owned’ property vs. a short sale. But, you will get a better deal on a short sale property than an ‘REO’ property. Here’s why: Short sale properties need to be priced 3-5% (or more) below current market value in order to sell prior to foreclosure. REO properties are being priced right at or less than 1% below current market value. This especially holds true in price ranges under $200,000 where we are sitting in a ‘neutral’ to ’sellers’ market in North Idaho.

Read here for more information about buying ’short sale’ properties in North Idaho

Posted under For Buyers, Market Reports

Idaho has 264,768 mortgage loans. 3.46% are past due and .07% are ‘in foreclosure’. Idaho’s sub-prime numbers show 14.39% are past due and 5.52% are ‘in foreclosure’.

Kootenai County numbers show 228 properties are currently past due (delinquent over 90 days but no foreclosure proceedings currently filed), 307 are “going into” auction (proceedings have been filed giving the home owner 120 days to either sell or bring current their loan) and 90 are bank owned.

Kootenai County ‘notices of default’ are up in 2007 49.60% to a total of 558 from 2006’s total of 373. This is still lower than our peak in 2001 of 781.

The best bargain, when it comes to buying foreclosure properties is at the ’short sale’ point, not the ‘bank owned’ point. Now, it’s much easier and less time consuming to buy a ‘bank owned’ property vs. a short sale. But, you will get a better deal on a short sale property than an ‘REO’ property. Here’s why: Short sale properties need to be priced 3-5% (or more) below current market value in order to sell prior to foreclosure. REO properties are being priced right at or less than 1% below current market value. This especially holds true in price ranges under $200,000 where we are sitting in a ‘neutral’ to ’sellers’ market in North Idaho.

Read here for more information about buying ’short sale’ properties in North Idaho

Posted under For Buyers, Market Reports

Southern California real estate investors are hurting. Specifically, the Californians who bought North Idaho properties with negative cash flow are hurting really badly. The problem? They’re paralyzed and the network mortgage advisers aren’t helping them analyze their investments.

What does that last sentence mean? It means that if you haven’t talked to the mortgage adviser, who secured the financing for your investment property in North Idaho, within the last three months, you’ve probably been abandoned.

Q: Why would a loan adviser abandon you?

A (1): He is out of the mortgage business.
A (2): She earned her commission and is on to someone else.
A (3): He “bought” your business from the network promoter; see A(2)
A (4): She has no financial planning background and doesn’t know how to properly plan an investor’s mortgage portfolio.

Pay close attention to answer #4. Your North Idaho real estate investments may be suffering because you have the wrong loan on the property. Many Idaho real estate investors are looking at the potential of LOSING money on their investment because the MORTGAGE wasn’t properly planned.

The best approach for California investors is the liabilities portfolio approach. That requires someone who understands how investments perform and matches the mortgages to help you realize your profit targets. It integrates your financial assets into your real estate assets and plans everything with an end goal in mind.

California Mortgage Planner Brian Brady, a 20 year veteran of financial services, will host a conference call this Thursday, January 31, 2008, at 8PM (California time). Mr. Brady will reveal the 4 mistakes most investors make with a mortgage plan and offer creative solutions to problems. The presentation will last 20 minutes and there will be an opportunity for callers to ask specific questions.

This call is limited to 10 people and is by reservation only. Contact Christina Ethridge to reserve your spot and obtain the telephone number and access code.

Posted under For Investors

Why else would they keep profiling our wonderful slice of heaven in their widely read newspaper??  Today they wrote a fabulous article about Kellogg - a sleepy ski town just 30 minutes due east of Coeur d’Alene.  An area expected to have real estate appreciation this year (1 of about 25 towns throughout the nation forecasted to appreciate - estimations range from 3.3% - 5%).

Posted under About the Area, For Buyers, For Investors

We’ve just updated our website with this week’s newest rentals now available. If you are looking for a home, condo, town home or apartment for rent Coeur d’Alene, Hayden, Rathdrum or Post Falls, Idaho, check out our website and view photo tours and more information on properties available for rent. You can also get an application and more information about renting from us on our property management website: D&M Management LLC.

Posted under For Renters

The wealthy invest in real estate. The “soon to be” wealthy invest in real estate. Want to be wealthy? Invest in real estate.

Investment in income producing real estate is a staple for many wealthy families and a great way to pass on intergenerational wealth.

There, now it’s not just me saying it.

Article

Posted under For Investors, General Real Estate