Blog | My Home Idaho

Are Homeowners Renovating to Sell or to Stay?

by MyHomeIdaho | Nov 14, 2018 | For Sellers, Move-Up Buyers, Selling Myths

Over the past few years, two trends have emerged in the housing market: Home renovations have shot up Inventory of homes available for sale on the market has dropped A ‘normal’ housing market is defined by having a 6-month supply of homes for sale. According to the...

How to Honor a Veteran Today and Everyday

by MyHomeIdaho | Nov 13, 2018 | For Buyers, For Sellers

One hundred years ago, on the eleventh hour of the eleventh day of the eleventh month, we marked the end of the “war to end all wars.” That day, which was to be observed annually on the eleventh day of the eleventh month, became known as Armistice Day and then, later...

VA Home Loans by the Numbers [INFOGRAPHIC]

by MyHomeIdaho | Nov 10, 2018 | First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers

Some Highlights: The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans & 2 million active duty service members which helps them achieve their dreams of homeownership. In 2017, $189 billion was loaned to veterans and...

75% of Renters Have Been Misinformed

by MyHomeIdaho | Nov 9, 2018 | Buying Myths, First Time Home Buyers, For Buyers, Rent vs. Buy

Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can’t partake in a...

Why Has Housing Supply Increased as Sales Have Slowed Down?

by MyHomeIdaho | Nov 8, 2018 | For Buyers, For Sellers, Housing Market Updates, Interest Rates, Pricing

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the inventory of homes for sale this year compared to last year has increased for the last four months, all while sales of existing homes have slowed compared to last...

5 Tips When Buying a Newly Constructed Home

by MyHomeIdaho | Nov 7, 2018 | First Time Home Buyers, For Buyers, Move-Up Buyers, New Construction

The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps that must take place. To ensure a hassle-free process, here are 5...

2 Myths Holding Back Home Buyers

by MyHomeIdaho | Nov 6, 2018 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability,” which revealed that, “Consumers often think they need to put more money down to purchase a home than is actually required. In a 2017...

The Difference an Hour Will Make This Fall [INFOGRAPHIC]

by MyHomeIdaho | Nov 3, 2018 | For Buyers, For Sellers, Housing Market Updates, Infographics

Every Hour in the US Housing Market: 596 Homes Sell 278 Homes Regain Positive Equity Median Home Values Go Up $1.20 Powered by...

How Will Home Sales Measure Up Next Year?

by MyHomeIdaho | Nov 2, 2018 | For Buyers, For Sellers, Housing Market Updates

There are many questions about where home sales are headed next year. We have gathered the most reliable sources to help answer this question. Here are our sources: Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the...

Taking Fear Out of the Mortgage Process

by MyHomeIdaho | Nov 1, 2018 | First Time Home Buyers, For Buyers

A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainties about the buying process. A specific cause for concern tends to be mortgage qualification. For many, the mortgage process can be scary, but it...

Are You Spending TOO Much on Rent?

by MyHomeIdaho | Oct 31, 2018 | Down Payments, First Time Home Buyers, For Buyers, Rent vs. Buy

Chances are if you are renting you are spending too much of your income on your monthly housing expense. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their rent or mortgage payment. This percentage allows the...

Thinking of Selling Your Home? Here’s Why You Need A Pro in Your Corner

by MyHomeIdaho | Oct 30, 2018 | For Sellers, FSBOs, Move-Up Buyers

With home prices on the rise and buyer demand still strong, some sellers may be tempted to try and sell their homes on their own without using the services of a real estate professional. Real estate agents are trained and experienced in negotiation and, in most cases,...

Buying a Home Can Be Scary… Until You Know the Facts [INFOGRAPHIC]

by MyHomeIdaho | Oct 27, 2018 | Buying Myths, First Time Home Buyers, For Buyers, Infographics

Some Highlights: Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home which stops many of them from even trying! Here are some facts: 72% of buyers who purchased homes this year have put down less than 20%....

Where are Home Values Headed over the Next Few Years?

by MyHomeIdaho | Oct 26, 2018 | For Buyers, For Sellers, Housing Market Updates, Pricing

There are many questions about where home prices will be next year as well as where they may be headed over the next several years to come. We have gathered the most reliable sources to help answer these questions: The Home Price Expectation Survey – A survey of over...

Still Think You Need 15-20% Down to Buy a Home? Think Again!

by MyHomeIdaho | Oct 25, 2018 | Down Payments, First Time Home Buyers, For Buyers, Millennials

According to a new study from Urban Institute, there are over 19 million millennials in 31 cities who are not only ready and willing to become homeowners, but are able to as well! Now that the largest generation since baby boomers has aged into prime homebuying age,...

Housing Is Still Affordable in the United States!

by MyHomeIdaho | Oct 24, 2018 | Buying Myths, First Time Home Buyers, For Buyers, Rent vs. Buy

Lately, there have been many headlines circulating about whether or not there is an “affordability issue forming in the housing market.” If you are considering selling your current house and moving up to the home of your dreams, but are unsure whether or not to...

Will Home Prices Continue to Increase?

by MyHomeIdaho | Oct 23, 2018 | Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing

There are many unsubstantiated theories about what is happening with home prices. From those who are worried that prices are falling (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational...

20 Tips for Preparing Your House for Sale This Fall [INFOGRAPHIC]

by MyHomeIdaho | Oct 20, 2018 | For Sellers, Infographics

Some Highlights: When listing your house for sale, your top goal will be to get the home sold for the best price possible! There are many small projects that you can do to ensure this happens! Your real estate agent will have a list of specific suggestions for getting...

Is the Increase in Inventory a Bullish or Bearish Sign for Real Estate?

by MyHomeIdaho | Oct 19, 2018 | First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers

In a recent article, National Housing Inventory Crisis Reaches Inflection Point, realtor.com reported that: New listings jumped 8% year-over-year nationally, the largest increase since 2013 Total listings in the 45 largest markets are now up 6% on average over last...

5 Tips for Starting Your Home Search

by MyHomeIdaho | Oct 18, 2018 | First Time Home Buyers, For Buyers

In today’s real estate market, with low inventory dominating the conversation in many areas of the country, it can often be frustrating to be a first-time homebuyer if you aren’t prepared. In a recent realtor.com article entitled, “How to Find Your Dream Home—Without...

Baby Boomers are Downsizing, Are You Ready to Move?

by MyHomeIdaho | Oct 17, 2018 | Baby Boomers, For Buyers, For Sellers, Housing Market Updates

For a while now baby boomers have been blamed for a portion of the housing market’s current lack of housing inventory, but should they really be getting the blame? Here’s what some of the experts have to say on the subject: Aaron Terrazas, Senior Economist at Zillow,...

Pre-Approval: Your 1st Step in Buying a Home

by MyHomeIdaho | Oct 16, 2018 | Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers

In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream...

Buying a Home? Do You Know the Lingo? [INFOGRAPHIC]

by MyHomeIdaho | Oct 13, 2018 | First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers

Some Highlights: Buying a home can be intimidating if you are not familiar with the terms used during the process. To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home. The best way to ensure that...

Dispelling the Myth About Home Affordability

by MyHomeIdaho | Oct 12, 2018 | Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates

We have all seen the headlines that report that buying a home is less affordable today than it was at any other time in the last ten years, and those headlines are accurate. But, have you ever wondered why the headlines don’t say the last 25 years, the last 20 years,...

New Home Sales Up 12.7% From Last Year

by MyHomeIdaho | Oct 11, 2018 | First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, New Construction, Pricing

According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July). The report...

What’s Going On With Home Prices?

by MyHomeIdaho | Oct 10, 2018 | First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Pricing

According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year. CoreLogic’s Chief Economist Frank...

The True Cost of NOT Owning Your Home

by MyHomeIdaho | Oct 9, 2018 | First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence. Realtor.com reported that: “Buying remains...

Buying a Home is Cheaper than Renting in 38 States! [INFOGRAPHIC]

by MyHomeIdaho | Oct 6, 2018 | Buying Myths, First Time Home Buyers, For Buyers, Infographics, Rent vs. Buy

Some Highlights: According to a study by GOBankingRates, it is cheaper to buy a home than rent in 38 states across the country. In six states the difference between buying & renting would account for less than a $50 monthly difference, leaving the choice up to the...

Are We About to Enter a Buyers’ Market?

by MyHomeIdaho | Oct 5, 2018 | First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers

Home sales are below last year’s levels, home values are appreciating at a slower pace, and there are reports showing purchasing demand softening. This has some thinking we may be entering a buyers’ market after sellers have had the upper hand for the past several...

2 Factors to Watch in Today’s Real Estate Market Whether Buying or Selling

by MyHomeIdaho | Oct 4, 2018 | First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers, Pricing

When it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors. When it comes to today’s real estate market, though, the...

Mortgage Interest Rates are Still Going Up… Should You Wait to Buy?

by MyHomeIdaho | Oct 3, 2018 | First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers

Mortgage interest rates, as reported by Freddie Mac, have increased by close to a quarter of a percent over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for mortgage rates...

How Does the Supply of Homes for Sale Impact Buyer Demand?

by MyHomeIdaho | Oct 2, 2018 | For Buyers, For Sellers

The price of any item is determined by the supply of that item, as well as the market’s demand for it. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for...

Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC]

by MyHomeIdaho | Sep 29, 2018 | First Time Home Buyers, For Buyers, Infographics, Interest Rates, Millennials, Move-Up Buyers, Pricing

Some Highlights: The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 5.2% by the third quarter of 2019. CoreLogic...

Are Home Prices Softening or Are They Falling?

by MyHomeIdaho | Sep 28, 2018 | First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing

We are beginning to see reports that more housing inventory is coming to the market and that buyer demand may not be increasing at the same pace it did earlier this year. The result will be many headlines written to address the impact that these two situations will...

The Cost of NOT Paying PMI

by MyHomeIdaho | Sep 27, 2018 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live. There is a common misconception among homebuyers that a 20% down payment is required, and it is this...

Where Are Mortgage Interest Rates Headed In 2019?

by MyHomeIdaho | Sep 26, 2018 | First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers

The interest rate you pay on your home mortgage has a direct impact on your monthly payment; the higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is a chart...

How Much Has Your Home Increased in Value?

by MyHomeIdaho | Sep 25, 2018 | First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing

Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.2% year-over-year. CoreLogic broke down appreciation even further into four price ranges,...

4 Reasons to Sell This Fall [INFOGRAPHIC]

by MyHomeIdaho | Sep 22, 2018 | For Sellers, Infographics, Move-Up Buyers

Some Highlights: Housing inventory is still under the 6-month supply that is needed for a normal housing market. Buyers are often competing with one another for the listings that are available. Perhaps the time has come for you and your family to move on and start...

Is the Real Estate Market Finally Getting Back to Normal?

by MyHomeIdaho | Sep 21, 2018 | For Buyers, For Sellers, Housing Market Updates

The housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest Home Price Expectation Survey: After the bubble...

25% of Homes with a Mortgage are Now Equity Rich!

by MyHomeIdaho | Sep 20, 2018 | For Sellers, Housing Market Updates, Move-Up Buyers

Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the...

If You Are Thinking of Selling? You Must Act NOW!

by MyHomeIdaho | Sep 18, 2018 | For Sellers, Housing Market Updates, Move-Up Buyers

If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned about the concept of supply and...

Is Buying a Home Really More Stressful Than Planning a Wedding? [INFOGRAPHIC]

by MyHomeIdaho | Sep 15, 2018 | First Time Home Buyers, For Buyers, Generation X, Infographics, Millennials

Some Highlights: According to a new survey from Open Listings, 62% of Americans ages 25-54 believe that buying a home is more stressful than planning a wedding. Many young couples are saving for a wedding and a home at the same time. The average US wedding now costs...

Are Homebuyers Starting to Hit the ‘Pause’ Button?

by MyHomeIdaho | Sep 14, 2018 | First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers

For the last several years, buyer demand has far exceeded the housing supply available for sale. This low supply and high demand have led to home prices appreciating by an average of 6.2% annually since 2012. With this being said, three of the four major reports used...

Home Prices Have Appreciated 6.9% in 2018

by MyHomeIdaho | Sep 13, 2018 | For Sellers, Housing Market Updates, Move-Up Buyers, Pricing

Between 1987 and 1999, which is often referred to as the ‘Pre-Bubble Period,’ home prices grew at an average of 3.6% according to the Home Price Expectation Survey. Every month, the economists at CoreLogic release the results of their Home Price Insights Report, which...

NAR Reports Show It’s A Great Time to Sell!

by MyHomeIdaho | Sep 12, 2018 | For Sellers, Housing Market Updates, Move-Up Buyers

We all realize that the best time to sell anything is when the demand for that item is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that right now...

4 Reasons Why Fall Is A Great Time to Buy A Home!

by MyHomeIdaho | Sep 11, 2018 | First Time Home Buyers, For Buyers, Move-Up Buyers

Here are four great reasons to consider buying a home today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Insights report reveals that home prices have appreciated by 6.2% over the last 12 months. The same report predicts that...

Home Prices Up 6.49% Across the Country! [INFOGRAPHIC]

by MyHomeIdaho | Sep 8, 2018 | First Time Home Buyers, For Buyers, For Sellers, Infographics, Move-Up Buyers, Pricing

Some Highlights: The Federal Housing Finance Agency (FHFA) recently released their latest quarterly Home Price Index report. In the report, home prices are compared both regionally and by state. Based on the latest numbers, if you plan on relocating to another state,...

What Does the Future Hold for Home Prices?

by MyHomeIdaho | Sep 7, 2018 | For Buyers, For Sellers, Housing Market Updates, Interest Rates, Pricing

Home prices are at the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash? Let’s try to answer these questions based on what has...

Homeownership is a Dominant Gene

by MyHomeIdaho | Sep 6, 2018 | First Time Home Buyers, For Buyers, Millennials, Rent vs. Buy

There are many things that factor into the decision to buy a home. New research from the Urban Institute suggests that one of those things may be inherited from your parents. Children are More Likely to Own a Home if Their Parents Did According to an analysis of...

5 Reasons You Should Sell This Fall!

by MyHomeIdaho | Sep 4, 2018 | For Buyers, For Sellers, Move-Up Buyers

Here are five reasons why listing your home for sale this fall makes sense. 1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country....

A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC]

by MyHomeIdaho | Sep 1, 2018 | For Buyers, For Sellers, FSBOs, Infographics

Some Highlights: Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most ‘educated’ decisions you can make! A real estate professional has the experience needed to help you through the entire process. Make sure...

Why are Existing Home Sales Down?

by MyHomeIdaho | Aug 31, 2018 | For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing

The latest Existing Home Sales Report issued by the National Association of Realtors (NAR) revealed that home sales have decreased for four consecutive months and are at their slowest pace in over two years. This has some industry leaders puzzled considering the fact...

Top 3 Myths About Today’s Real Estate Market

by MyHomeIdaho | Aug 30, 2018 | First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers

There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when...

Home Sales Expected to Continue Increasing in 2019

by MyHomeIdaho | Aug 29, 2018 | For Sellers, Housing Market Updates, Move-Up Buyers

Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting that home sales will increase nicely in 2019. Below is a chart depicting the projections of each entity for the remainder of 2018, as well as for 2019. As we can see, Freddie Mac, Fannie...

Rent or Buy: Either Way You’re Paying A Mortgage!

by MyHomeIdaho | Aug 28, 2018 | First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Rent vs. Buy

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your...

What State Gives You the Most ‘Bang for Your Buck’? [INFOGRAPHIC]

by MyHomeIdaho | Aug 25, 2018 | For Buyers, For Sellers, Infographics, Move-Up Buyers

Some Highlights: The majority of states in the Midwest and South offer a lower cost of living than states in the Northeast and West. The ‘biggest bang for your buck’ comes in Mississippi where, compared to the national average, you can actually purchase $115.74 worth...

What Does the Recent Rash of Price Reductions Mean to the Real Estate Market?

by MyHomeIdaho | Aug 24, 2018 | For Sellers, Housing Market Updates, Move-Up Buyers, Pricing

Last week, in a new report from Zillow, it was revealed that there has been a rash of price reductions across the country. According to the report: There are more price cuts now than a year ago in over two-thirds of the nation’s largest metros About 14% of all...

Having Trouble Saving Enough for Your Down Payment? Crowdfund It!

by MyHomeIdaho | Aug 23, 2018 | Down Payments, First Time Home Buyers, For Buyers, Millennials, Move-Up Buyers

You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home. Many couples are asking their wedding guests to contribute to their “Down Payment Fund” rather than fulfilling a...

5 Real Estate Reality TV Myths Explained

by MyHomeIdaho | Aug 22, 2018 | Buying Myths, For Buyers, For Sellers, Selling Myths

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of “Love it or List it,” “Million Dollar Listing,” “House Hunters,” “Property Brothers,” and so many more...

The Net Worth of a Homeowner is 44x Greater Than A Renter!

by MyHomeIdaho | Aug 21, 2018 | First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released. The study revealed that the median net worth of a...

Housing Market: Another Gigantic Difference Between 2008 and 2018

by MyHomeIdaho | Aug 17, 2018 | First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers

Some are attempting to compare the current housing market to the market leading up to the “boom and bust” that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis....

Homebuyers Willing to Sacrifice ‘Must-Haves’ in Favor of Good School Districts

by MyHomeIdaho | Aug 16, 2018 | First Time Home Buyers, For Buyers, Generation X, Millennials, Move-Up Buyers

It should come as no surprise that buying a home in a good school district is important to homebuyers. According to a report from Realtor.com, 86% of 18-34 year-olds and 84% of those aged 35-54 indicated that their home search areas were defined by school district...

Have You Outgrown Your Starter Home?

by MyHomeIdaho | Aug 15, 2018 | For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers

For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment. It may seem hard to...

Are You Thinking of Selling Your Home? Competition Is Coming!

by MyHomeIdaho | Aug 14, 2018 | For Buyers, For Sellers, Move-Up Buyers

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales...

Existing Home Sales Cooling Off This Summer [INFOGRAPHIC]

by MyHomeIdaho | Aug 11, 2018 | For Buyers, For Sellers, Housing Market Updates, Infographics

Some Highlights: According to the National Association of Realtors’ latest Existing Home Sales Report, sales in June were down 2.2% from last year. Inventory of homes for sale showed a modest improvement of 0.5% over last year’s figures, but still remains under the...

Supply & Demand Will Determine Future Home Values

by MyHomeIdaho | Aug 10, 2018 | For Buyers, For Sellers, Housing Market Updates, Pricing

Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as: “The...

The Wave of Millennial Homebuyers Continues to Swell

by MyHomeIdaho | Aug 9, 2018 | First Time Home Buyers, For Buyers, Millennials, Rent vs. Buy

Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their American Dream. Comparatively speaking, millennials have taken longer to obtain traditional milestones (like getting married,...

5 Reasons to Hire a Real Estate Professional Before Entering the Market!

by MyHomeIdaho | Aug 8, 2018 | First Time Home Buyers, For Buyers, For Sellers, FSBOs, Move-Up Buyers

Whether you are buying or selling a home, it can be quite the adventure. In this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO,’ but it’s not as easy as it may seem. That’s why you need an...

Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner!

by MyHomeIdaho | Aug 7, 2018 | First Time Home Buyers, For Buyers, Millennials, Move-Up Buyers, Rent vs. Buy

In a CNBC article, self-made millionaire David Bach explained that: “Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off.” Bach suggests that homebuyers should, “Take out a 30-year...

Are Lending Standards Propping Up Home Prices?

by MyHomeIdaho | Aug 3, 2018 | For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers

Back in 2005, Federal Reserve Chairman Alan Greenspan described the dramatic increases in residential real estate values as a “froth in housing markets.” Greenspan went on to say: “The increase in the prevalence of interest-only loans and the introduction of...

Buying Is Now 26.3% Cheaper Than Renting in the US

by MyHomeIdaho | Aug 2, 2018 | Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this...

You Need an Agent Who Will Always Put You First

by MyHomeIdaho | Aug 1, 2018 | For Buyers, For Sellers, FSBOs

Whether you are a rookie homebuyer or have gone through the process many times, having a local real estate expert who is well versed in the neighborhood you are looking to move to, as well as the trends of that area, should be your goal while home shopping. One great...

The #1 Reason to Put Your House on The Market TODAY!

by MyHomeIdaho | Jul 31, 2018 | For Sellers, Housing Market Updates, Move-Up Buyers

The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year...

Americans Rank Real Estate Best Investment for 5 Years Running! [INFOGRAPHIC]

by MyHomeIdaho | Jul 28, 2018 | Baby Boomers, First Time Home Buyers, For Buyers, Generation X, Infographics, Millennials, Move-Up Buyers, Rent vs. Buy

Some Highlights: Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 5 years! The generations agree! Real estate is the best investment! Generation X leads the way with...

4 Reasons Why We Are Not Heading Toward Another Housing Bubble

by MyHomeIdaho | Jul 27, 2018 | For Buyers, For Sellers, Housing Market Updates

With home prices continuing to appreciate above historic levels, some are concerned that we may be heading for another housing ‘boom & bust.’ It is important to remember, however, that today’s market is quite different than the bubble market of twelve years ago. Here...

Will Your Current House Fit Your Needs in Retirement?

by MyHomeIdaho | Jul 26, 2018 | Baby Boomers, For Buyers, For Sellers, Move-Up Buyers

As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to...

Selling Your Home? Here’s 2 Ways to Get the Best Price!

by MyHomeIdaho | Jul 25, 2018 | For Sellers, Move-Up Buyers, Pricing

Every homeowner wants to make sure that they maximize their financial reward when selling their home, but how do you guarantee that you receive the maximum value for your house? Here are two ways to ensure that you get the highest price possible. 1. Price it a Little...

Lack of Listings Slowing Down the Market

by MyHomeIdaho | Jul 24, 2018 | For Sellers, Housing Market Updates, Move-Up Buyers

As the real estate market continues to move down the road to a complete recovery, we see home values and home sales increasing while distressed sales (foreclosures and short sales) continue to fall to their lowest points in years. There is no doubt that the housing...

What You Need to Know About the Mortgage Process [INFOGRAPHIC]

by MyHomeIdaho | Jul 21, 2018 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers

Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much...

Housing Will Not Fall Victim to Next Economic Storm

by MyHomeIdaho | Jul 20, 2018 | For Buyers, For Sellers, Housing Market Updates

Some experts are calling for a slowdown in the economy later this year and most economists have predicted that the next recession could only be eighteen months away. The question is, what impact will a recession have on the housing market? Here are the opinions of...

Demand for Homes to Buy Continues to Climb

by MyHomeIdaho | Jul 19, 2018 | For Buyers, For Sellers, Move-Up Buyers

Across the United States, there is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers are out in force and are being met with a highly competitive summer real estate market. According to the National...

4 REAL Reasons Why We Buy A Home!

by MyHomeIdaho | Jul 18, 2018 | First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones. No matter what shape or size your living space is, the concept and feeling of home can mean different things to...

First-Time Home Buyers Continue to Put Down Less Than 6%!

by MyHomeIdaho | Jul 17, 2018 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Rent vs. Buy

According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017. Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have...

Want to Sell Your House Faster? Don’t Forget to Stage! [INFOGRAPHIC]

by MyHomeIdaho | Jul 14, 2018 | For Sellers, Infographics, Move-Up Buyers

Some Highlights: The National Association of Realtors surveyed their members & released the findings of their Profile of Home Staging. 62% of seller’s agents say that staging a home decreases the amount of time a home spends on the market. 50% of staged homes saw a...

House-Buying Power at Near-Historic Levels

by MyHomeIdaho | Jul 13, 2018 | Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Pricing

We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American...

Rising Interest Rates Have Not Dampened Demand

by MyHomeIdaho | Jul 12, 2018 | First Time Home Buyers, For Buyers, Interest Rates, Millennials, Move-Up Buyers

Since the beginning of the year, mortgage interest rates have risen over a half of a percentage point (from 3.95% to 4.52%), according to Freddie Mac. Even a small rise in interest rates can greatly impact a buyer’s monthly mortgage payment. First American recently...

How Long Do Most Families Live in a House?

by MyHomeIdaho | Jul 11, 2018 | For Sellers, Housing Market Updates, Move-Up Buyers

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the...

The #1 Reason to List Your House for Sale NOW!

by MyHomeIdaho | Jul 10, 2018 | For Sellers, Housing Market Updates, Move-Up Buyers

If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait! Buyer Demand Continues to Outpace the Supply of Homes for Sale The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on...

Cost Across Time [INFOGRAPHIC]

by MyHomeIdaho | Jul 7, 2018 | First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers

Some Highlights: With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years. Rates are projected to climb to 5.1% by this time next year according to Freddie Mac. The impact your interest rate makes on your...

Homes More Affordable Today than 1985-2000

by MyHomeIdaho | Jul 6, 2018 | First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home. However, it is not just the price of a home that determines its affordability. The monthly cost of a home is...

VA Loans: Making a Home for the Brave Possible

by MyHomeIdaho | Jul 5, 2018 | First Time Home Buyers, For Buyers, Move-Up Buyers

Since the creation of the Veterans Affairs (VA) Home Loans Program, over 22 million veterans have achieved the American Dream of homeownership. Many veterans do not know the details of the program and therefore do not take advantage of the benefits available to them....

Why Should You Use A Professional to Sell Your Home?

by MyHomeIdaho | Jul 4, 2018 | For Sellers, Move-Up Buyers

When homeowners decide to sell their houses, they obviously want to get the best possible price for their home with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold. In...

Buying This Summer? Be Prepared for Bidding Wars

by MyHomeIdaho | Jul 3, 2018 | First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers

Summer is traditionally a busy season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on those buyers who are looking to purchase before the new school year. This year will be no different! Buyers have already...

5 Reasons Millennials Choose to Buy a Home [INFOGRAPHIC]

by MyHomeIdaho | Jun 30, 2018 | First Time Home Buyers, For Buyers, Infographics, Millennials, Rent vs. Buy

Some Highlights: “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.”...

Next Recession in 2020? What Will Be the Impact?

by MyHomeIdaho | Jun 29, 2018 | For Buyers, For Sellers, Housing Market Updates, Pricing

Economists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent report by Zillow Research shed light on a survey conducted by Pulsenomics in which they asked economists,...

What’s the Median Home Value in Your State?

by MyHomeIdaho | Jun 28, 2018 | First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Pricing

If you’ve entered the real estate market as a buyer or a seller, you’ve inevitably heard the mantra “location, location, location” in reference to identical homes increasing or decreasing in value based on where they’re located. In today’s housing market where home...

Are You Wondering If You Can Buy Your First Home?

by MyHomeIdaho | Jun 27, 2018 | First Time Home Buyers, For Buyers, Millennials

There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they get married or start a family, some might think they are too young, and still,...

You DO NOT Need 20% Down to Buy Your Home NOW!

by MyHomeIdaho | Jun 26, 2018 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the...

4 Reasons to Sell This Summer [INFOGRAPHIC]

by MyHomeIdaho | Jun 23, 2018 | For Sellers, Infographics, Move-Up Buyers

Some Highlights: Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available! Housing inventory is still under the 6-month supply needed to sustain a normal housing...

Homes are More Affordable in 44 out of 50 States

by MyHomeIdaho | Jun 22, 2018 | First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing

With both home prices and mortgage rates increasing this year, many are concerned about a family’s ability to purchase a major part of the American Dream – its own home. However, if we compare housing affordability today to the average affordability prior to the...

I believe every family should feel confident when buying and selling a home.

I believe every family should feel confident
when buying and selling a home.