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)

I’ve been temporarily posting on my “other” blog (it’s really my “old” blog but I keep it active because a lot of you have found me in searches from that blog) - here are a few of the posts:

• North Idaho is great for vacations - especially affordable ones!

• Idaho holds it’s own in the 2009 ALEC-Laffer State Economic Competitiveness Index

• Video tour of a beautiful Coeur d’Alene Idaho custom home on acreage - it’s my first, enjoy!

• Idaho holds it’s own in the 2009 ALEC-Laffer State Economic Competitiveness Index

• Video tour of a beautiful Coeur d’Alene Idaho custom home on acreage - it’s my first, enjoy!

• A 6,000+ seat event arena, in Coeur d’Alene? It can be done!

• What do spiders and robins have in common???

• All right, here it is - Going directly to the builder WILL NOT save you money in the Coeur d’Alene Area!!! ARGGGHHH!!!

• Idaho ranks #8 in “Healthiest States”

• Stop giving away information to consumers - they won’t “need” us . . .

• The economy is helping some industries - North Idaho Nudist Community

• Need tailoring services in Coeur d’Alene Idaho? Then stay FAR away from . . .

• Mica Flats (Coeur d’Alene, Idaho) puts new community on the drawing board - and it’s drawing debate…

• In a time of extreme unemployment, you’d think “time is of the essence” would be important! Post Falls Life Care Facility - NOW OPEN!

• Wordless Wednesday - Ribbit

• Wazza up with the online version of the Coeur d’Alene Press??

• You too can “know the future”… all it takes is watching the present with eyes wide open…

• Coeur d’Alene Idaho ranks #2 for best performing cities - We’ve done it again!

• Do you know that geese are LOUD???

• Coeur d’Alene Real Estate - Short Sale Opportunities

• Post Falls is examining 277 acre annexation request… for immediate development.

• Out with the old and in with the new!!! And no, this isn’t another resolutions/goal post

• Recession cuts Idaho’s numbers, but state still has sixth-fastest rate

• I’m running a business, not a charity - but apparently, all too many agents think the opposite.

• Ok people - relax, calm down, I’m not stalking you if I have your mailing address…

Posted under For Buyers, For Investors, For Renters, For Sellers

I have been very behind the times on keeping y’all updated and I sincerely apologize.  I don’t know that I’ve ever truly found the “balance” between truly working with buyers and sellers and keeping this blog updated so that buyers and sellers can stay informed.

Frankly, blogging takes a lot of time.  The beauty is, I very much enjoy my interactions with y’all, both virtually and live.  It’s been busy the past 2 months.

So, what does “busy” mean?

The North Idaho Dream Team LLC is now powered by SKE Realty Group LLC. The brokerage we were affiliated with, GMAC Northwest Real Estate essentially went “belly-up”.  The owners closed down the business and we had all of 24 hours to relocate.  Thank goodness we had already begun the work necessary to form our own brokerage.  It was our intention to open our brokerage in late spring of this year (2009) but with the advent of the actions of our previous brokerage, we opened on January 5th, 2009.  So, it was up to me to do 5 months worth of work in as short of a time as possible - and yes, I achieved that, but not without some downside - one being consistent updates to y’all via this blog.

I also was inaugurated as the local chapter President of the Coeur d’Alene Chapter of the Women’s Council of Realtors. An honor and I very grateful for and am enjoying immensely.

AND, although number of sales are down this year over last year (so far), I’ve been incredibly busy working with sellers (and Chuck has been busy working with buyers) and well, actually ASSISTING you in your real estate transaction is our number 1 priority so this blog became a #3 priority.  But that is OK!

So, although we are still very busy helping you buy and sell real estate, I’m not as busy with the “nuts and bolts” of opening up a new business (SKE Realty Group LLC) as I was in January and February and, I feel as though I’ve “settled in” to my position as President so, I am fairly sure I’m back to keeping you updated on the real estate goings on of Kootenai County.

It is my absolute pleasure to assist you!

Posted under For Buyers, For Sellers, General Real Estate

Here is a link to our “November North Idaho Real Estate Update“:

This Newsletter is full of interesting and useful information that we think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“Smaller Homeowner Relief Already In Place“;
“Good News for Qualified Buyers“;
“Credit Unions To The Rescue“;
“Finding Discounted Homes For Sale“;
“FHA Still Going Strong“;
“Investor Report: Bailout to Aid Investors“;

Plus a roundup of October real estate activity for the Coeur d’Alene area as well as much more advice and information.

We hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to us. Or, if you would like to see a certain topic covered in future months, let us know that too!

Posted under For Buyers, For Investors, For Renters, For Sellers

Here is a link to our “September Real Estate Update”

This Newsletter is full of interesting and useful information perfect for buyers, sellers, homeowners, or renters.

This month’s issue includes topics such as:

“What the Housing and Economic Recovery Act of 2008 Means for You”;
“Moving Away From Heavy Gasoline Use”;
“New Fed Rules To Prevent Future Runs on Bad Loans”;
“Open The Doors And Buyers Shall Come — But Prepare First!”;
“Investor Report: Hidden Tax Pitfall”;
“Don’t Overlook The Garage When Getting Your Home Ready To Sell”;

Plus a roundup of August real estate activity as well as much more advice and information.

Enjoy. If you have any comments, let us know. Or, if you would like to see a certain topic covered in future months, let us know that too!

Posted under For Buyers, For Investors, For Renters, For Sellers

North Idaho housing starts follow national trend

Lower numbers mean fewer jobs in construction

COEUR d’ALENE — Construction in Kootenai County, as it is across the country, is slowing down.

“(Construction activity is) running about 10 percent below what it was last year,” Kathryn Tacke, Idaho Department of Labor, said of the Panhandle region. “That’s about 730 fewer jobs than we had last year in construction.”

Press article here.

This is absolutely the best news we’ve had in a while.

Why is it good news?  Because Kootenai County is just WEIRD.  Nationwide, approximately 10-12% of all homes sold are new construction.  That’s a national statistic that holds true in most areas.  Not in Kootenai County.  Here, roughly 26-29% of all homes sold are new construction.

Lower housing starts is excellent news for home owners.

Currently, the fact that almost 1 out of 3 homes sold is new construction is seriously hindering the ability of home owners to sell their homes.  When buyers can continue to get a brand new home, with more square footage than a resale offers, they’ll continue buying new construction.

With the slow down of new construction coming, it shows that there will be an upswing in resales. When?  I’m not omnicient so I can’t tell you that but, historically and cyclically it’s about 8-12 months after the housing start slow down.

Posted under Economics of North Idaho, For Investors, For Sellers

“…I am really curious what you and your colleagues are saying about the current market conditions.  Are you still saying that things are stable?  Are things down?  Looking at the first ½ of 07 vs. 08, one might say things are down, however it is in my opinion a little too early to say.  Just curious what your take might be.  I have read a number of articles from your website/newsletter and so forth.  It is great information.  I am just fishing for some educated opinion…”

Definitely sales are down first 1/2 08 (by 25%) or so - and listing inventory is up by 7% or so.  With that said, that’s all encompassing - in other words, it’s everything in the MLS, not just Kootenai County.

What we are seeing is more instability (prices are all over the place) than ever before and this is usually indicative of a bottoming out - how long this instability lasts is the unknown.  It’s pretty much all dependent upon the credit markets and what that is going to settle down into being in the future.

The other factor we had this year was our incredible winter - this definitely affected sales significantly in fact - but knowing just how much that alone affected sales is impossible to determine.

We are seeing several things -

1. If sellers want to sell, they absolutely must price their home at the bottom rung of the price point with little to no competition.  If they don’t, they simply get lost in the sea of homes available and won’t get their home sold this season.

2. Buyers seem to think that they can make offers 10-20% below listing price on ‘best priced’ homes.  By this I mean that if a home is at the best price for it’s competition, buyers think that the seller is desperate or needs to sell (or whatever they are thinking) and they offer ridiculously low offers.  With sellers that are priced well, I can confidently advise how to counter back and whether to hold out or not.

3. Buyers are not separating our market from the markets that are seriously hit such as California, Phoenix, Las Vegas and Florida.  Buyers seem to think that since people are making offers at up to 40-60% off listing price and getting great deals, that must be the case everywhere.  Even REO’s aren’t going for more than 10% below market value in our area.

4. On the flip side, because so many of my sellers are from other parts of the country - I’m seeing more realistic expectations from sellers I work with that live out of state than I do from sellers that live locally.  The sellers from out of state are innundated with their local markets downward spiral and actually listen when I explain our market here.

5. On the other side of the above, I have a couple of sellers that are unrealistically freaked out - one seller brought over $30,000 to the table to close his property only because he was nervous about the market (out of state seller).  That $30,000 would have sustained him with a tenant for 4-6 years (it is a very strong rental market in our area) - well beyond our current market conditions.  My honest opinion, if you have to bring money to the table - sit down and figure out how long that money would last should you rent it out - even at a negative cash flow.  Then determine if that is long enough to get you into a better time of year to sell or even a better year to sell.

Posted under For Buyers, For Investors, For Sellers, Market Reports

North Idaho is simply gorgeous and has become a wealthy “second-home” retreat. With over 200 homes currently available with sales prices over $1,000,000 - there is plenty to choose from.

Currently, the highest priced home available for sale is on Coeur d’Alene Lake and offers over 9,500 square feet of living space and over 900′ feet of waterfront. Priced at $10,500,000 it is definitely not for the faint of heart.

My concern is that with the photos currently promoting the property, the beauty of the property is lost. The photos are clearly not professionally taken, they are not promoting the best aspects of the property and, there are too few of them (with the vastness of this property/estate, more photos are needed) - the agent offers up 29 amateur photos on this property.

The very next priced home (at $6,200,000 and on Lake Coeur d’Alene) shows beautifully - with over 100 photos available for the voyeur to enjoy - a mix of professional photos and amateur photos (or, if not professional, at least taken with wide-angle lenses and the photographer has some idea of what they are doing). This home offers 7,200 square feet of living space and stunning views of Coeur d’Alene from the decks of the home.

Another one, clearly a stunner, offers up 11 pictures at a price of $4,495,000 and yet another one, at $4,1995,000 offers 2 pictures. Yes, that’s right - a $4.2 million dollar home offers up 2 pictures for all the world to see.

What I simply do not understand is why owners of luxury property are choosing agents who so clearly have no clue what it takes to market a luxury property? I’m addressing the very basic marketing element of photographs. Excellent photographs of a home are the starting point for marketing that home. How else does one expect to get a luxury property sold?

Luxury home buyers do not typically want to spend their time personally looking at every single potential property. All too often they research areas via the internet, utilizing extensive photographs to get a feel for the area and the homes they are interested in. In some cases, when the buyer is a high-profile buyer, they send an ‘advance’ team (either via phone or in person) to preview the property for them. Why not help these buyers? Help them do their research in privacy and confidentiality? Give them what they are looking for - extensive photographs and information.

If you are a luxury home seller - don’t put up with shoddy marketing of your beautiful property. Give me a call today and we’ll get your home exposed to buyers thoroughly and competently.

Posted under For Buyers, For Sellers

I received the strangest phone call last night . . .

Someone called me about Radiant Lake - a man-made lake in Rathdrum Idaho - it’s becoming quite beautiful there actually (I’ll run out and take some photos and post them in the next day or two).

Anyway, apparently this person had driven around Radiant Lake and found it beautiful. Then, they found our website and were looking up listings on Radiant Lake (via our link to the MLS). The individual called me and expressed their disappointment about how I market beautiful areas such as this.

?????

They left a name and phone number (it rang through on my cell so I had the number) - but when I called back, it went to a spanish voice system (I don’t speak spanish so I have no clue what it was saying) so I wasn’t able to speak with this person directly unfortunately.

Why am I perplexed? Well, because I do not market Radiant Lake directly. I will work with individual sellers there (don’t have any current sellers in Radiant Lake) and Chuck will work with buyers there.

In other words, the individual was seeing another agents version of marketing and thought it was my marketing (or rather, lack thereof).

This is NOT good. Not good that another agents sloppy representation of a real estate development is being looked at as MY representation of the development.

So, the question is, how do I communicate this to prospective buyers and sellers? I do excellent marketing, just take a look at our virtual tours, and feel high quality photos are the first line of marketing of real estate (one of many avenues used in marketing properties).

How do I communicate to buyers that when they see properties for sale, although they are seeing them by accessing them through my websites, I am not actually the person responsible for marketing those properties??

It disgusts me how few agents actually utilize beautiful photos in promoting their properties. Considering that fully more than 80% of buyers utilize the internet in their search, you’d think it would be a priority. With a digital camera - taking a ton of photos is FREE - utilizing maybe 45 minutes of the agents (or photo takers) time to actually take the photos.

Anyway, I’m posting this to clarify to everyone, what you see in the MLS as available for sale - is simply that - available for sale. I am not necessarily the listing agent on the property, although I (and Chuck) am(are) here to help prospective buyers on any property in Kootenai County.

Posted under For Buyers, For Sellers

Here is a link to our “July Real Estate Update”

This Newsletter is full of interesting and useful information perfect for buyers, sellers, homeowners, or renters.

This month’s issue includes topics such as:

“Sell Faster When You Understand The Buyers Mindset”;
“What You Should Know About A Buyer’s Market”;
“Investor Report: Section 1031″;
“Paint The Perfect Sale”;
“Grill Burgers, Not Your Home”;
“Home Sales May Rise Modestly Before Upturn in Second Half Of 2008″

Plus a roundup of June real estate activity as well as much more advice and information.

Enjoy. If you have any comments, let us know. Or, if you would like to see a certain topic covered in future months, let us know that too!

Posted under For Buyers, For Investors, For Renters, For Sellers

Here is a link to our “June Real Estate Update”

This Newsletter is full of interesting and useful information perfect for buyers, sellers, homeowners, or renters.

This month’s issue includes topics such as:

“Moving Up? What You Need to Consider to Accommodate Your Growing Family”;
“How To Get the Goods On Regreening”;
“ID Theft Hits Home”;
“Keep Cool Starting From The Top”;
“Avoiding Home-Based Business Blunders”;
“Tax Rebate Uses For Sellers”;

Plus a roundup of April real estate activity as well as much more advice and information.

Enjoy. If you have any comments, let us know. Or, if you would like to see a certain topic covered in future months, let us know that too!

Posted under For Buyers, For Investors, For Renters, For Sellers