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)

Dear D&M Management Property Owners:

There is new technology available for better securing homes and keeping future costs down to a minimum.  D&M Management of Post Falls, Idaho will be changing over to new locking door knob and deadbolt sets known as the Kwikset Smart Key series locks.  The change over will begin March 1st and will take place as tenants vacate properties.

These new locks allow us to re-key your homes as needed without the costs of either changing door knobs or having a locksmith go to the property and re-keying all doors.  Currently, when tenants do not turn in keys, we order a re-keying of the home.  This entails a locksmith as well as a D&M Management employee, which means you are bearing the burden of two expenses ($110 - $150).  With the Smart Key locks we are able to re-key each lock quickly and easily without having to change door knobs.  The only cost you will incur is the primary cost of the lock sets (approximately $130 - $200 per unit) and then a minimal cost between tenants to complete change process (estimated at 30 minutes).

In the past, if tenants do turn in all of the required keys, we have not required a lock change.  However, this does not account for copies made by tenants without our knowledge (extremely common).  For this reason, to better secure the home for both you and the tenants, a lock change should be completed between each tenant.  The Smart Key System is a logical and affordable security we are now able to offer.

You will recoup the costs of the Smart Key System by the 2nd-3rd tenant.  With each additional tenant you will be saving approximately $80 - $120 per tenancy.

If you have any questions about the Smart Key System, please feel free to call us, email us or visit the Smart Key website at: kwikset.com/smartseries.

Posted under For Investors, property management

I hear a lot of people mistakenly spouting information about past recessions. For example, in the early 1990’s when California and other parts of the nation were clearly in a recession, North Idaho was not. Proof? The unemployment rates at the time compared to previous indicators. Even more proof? Real estate was appreciating at great rates locally. 1991 - 13.95%, 1992 - 11.38, 1993 - 12.55%.

I’ve heard locals saying recently how badly California’s real estate ‘recessions’ affect North Idaho. In fact, it’s quite the opposite. When CA does poorly, North Idaho tends to do well. All it takes is to look at the numbers and facts to see the inaccuracy behind the emotional statements.

As with real estate, I firmly believe that economics is locally driven. Yes, national economics affects all areas, but it doesn’t affect all areas in the same way and, despite our desires to say so, there will always be pocket areas that excel no matter how down the ‘markets’ are. This is just plain common sense. Here’s a big example: The automobile industry. It has severely affected Michigan, had a small affect nationally and has had zero affect locally (aside from great rebates and cash back bonuses) from a negative perspective.

The North Idaho area has been experiencing excellent job growth for several years now, more than 3 times the national average. Additionally, with a very tight job market and an unemployment rate that’s been below 3% for several years, we are looking at a very strong economy in the area. When the dollar is low, we still do great because the influx of foreigners (Canadians) via travel increases. In other words, we have a balanced economy that can prosper in any market.

The Conference Board’s recent findings support my statements:

The Conference Board Help-Wanted Advertising Index — a key measure of job offerings in major newspapers across America — inched up one point in December.

While there are pockets of the nation in recession (Michigan, Indiana, New York, New Jersey, Silicon Valley to name a few), there is not yet a national recession. Nor will there be a recession unless the decline in labor market activity intensifies and spreads to more parts of the country. Data through December suggest that is not the case.”

The Conference Board: Help-Wanted Advertising Index

Growth in the region is phenomenal. Locals don’t understand how or why, they don’t realize that we have a long ways to go before it is financially impossible for lower incomes to live here. It’s a paradigm shift in thinking. Now, instead of a ‘home on a lot in a sub-division’ being a ’starter home’ or ‘first home opportunity’, the options for lower income first time buyers will be condo’s and town-homes. Something that many other areas of the country have been dealing with for decades. There is afford-ability here, what it looks like has just changed. This will take time for people to wrap their brains around and get used to, at least for locals. Those moving in from more expensive and more urban areas get it already.

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© 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 Economics of North Idaho, For Investors

Local Area Events:
January 28-February 22 - “NIC Art Faculty Show.”  Opening reception January 28 - 5:00-7:00pm in the Boswell Hall Corner Gallery.  Free admission.  208-769-7819.

January 31 - Food and Wine Pairing Event at Silver Mountain, featuring winemaker Don Townshend of Townshend Cellars. 877-230-2193.

February 1 - Art & Wine - Local artists demonstrating their talents at Cena To Go - 4:00-7:00pm. 208-765-2500.

February 1-April 15 - Free Tax Help.  This volunteer program is sponsored by AARP, the IRS and the Idaho State Tax Commission.  It is designed specifically to help most elderly, low-income, non-English speaking and disabled taxpayers with the preparation of their tax returns.  By appointment only.  208-773-9582.

February 2 - Inland Northwest Ferret Association Show at the Kootenai County Fairgrounds.  509-299-7589.

February 2 - “GroundDawgs Day” benefit dance for Kootenai Humane Society - 6:30-11:00pm - Eagles Club of Coeur d’Alene. 208-818-1633.

February 3 - Selma-Chic Treasures, 3904 Highway 41 in the Highlands Crossings Center, is having a “Super Shop Sunday” 10:00am-3:00pm.  Free refreshments and give-aways. 208-457-9897.

February 4-5 - United Way Food Drive at Cena To Go.  Receiver $1 off coupons for every food item you bring ($5 max.) 208-765-2500.

February 6 - Kootenai County Young Professionals meeting - 5:30pm at Brix Night Club in Coeur d’Alene. This is a great opportunity for young professionals to learn more about this organization. Ron Nilson of Ground Force Manufacturing will be the speaker. Admission is $15. scottm@incnorthwest.com.

February 8-9 - Lake City Playhouse presents “Forever Plaid.” 208-667-1323.

February 8-10 - North Idaho Winter Festival 2008 - Kootenai County Fairgrounds - benefitting the United Way and Local Area Food Banks. www.northidahowinterfestival.com.

February 9 - Post Falls Community Volunteers Sweetheart Ball featuring music by Tuxedo Junction - 6:30pm - Greyhound Park & Events Center. 208-777-0596 or 208-773–6872.

February 14-16, 21-23 - “Heidi: the Musical” at NIC - 7:30pm - Boswell Hall Schuler Performing Arts Center. 208-769-7819.

February 15 - “My Life, My Money” free money camp for middle school students sponsored by STCU. Event will be held at NIC Workforce Training Center and includes free food and entertainment. 208-619-4027.

February 16-17 - Mardi Gras Festival and Live Music at Lookout. 208-744-1301.

February 16-17 - 12th Annual Muzzleloading Arms and Historical Crafts Show by Mountain Top Trading - Kootenai County Fairgrounds. 509-397-4447.

February 16-17 - Snowmobile Races at the Kootenai County Fairgrounds. 208-772-4016.

Posted under Activities and Events

Although you wouldn’t think an area the size of Kootenai County “really” needs more transportation options, this does sound logical and appealing.

“Providing public transportation alternatives is one of the critical factors in our continuing economic growth in Northern Idaho, with gas prices and the cost of commuting continuing to increase.

“Providing economical transportation for our workforce, while reducing the effect of commuters on our environment just makes sense.”

I completely agree that this is critical to future economic growth.

Full article here.

 

 

 

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© 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 Economics of North Idaho