JEB COMMERCE used T.J. Barnhart at Keller Williams Realty in Coeur d’Alene, ID to negotiate their commercial lease in a Class A office space in downtown Coeur d’Alene. “We are very excited about our new office space and T.J. got us a fantastic deal” says JEB COMMERCE as they sealed their lease with a grand signing.
I showed JEB COMMERCE 8 different office suites in the downtown Coeur d’Alene area. There is definitely plenty of inventory to choose from in the office space environment. All were vacant units. We were able to use that information as a negotiating tool and we got a great deal. If you or anyone you know is looking to negotiate a commercial, retail, office, manufacturing, industrial lease in the North Idaho region, please forward them my information and I would love to help them out.
1739 16th Street (marked as 1925). Great buy in Post Falls. This property may be the best “acreage” deal in the Post Falls area. Priced aggressively at $239,950, this home boasts almost 1600 SQ/FT and nestled on 5 fenced and cross fenced acres. Includes a horse stall (shed) and a shop. If your looking for space, and don’t mind a little “fixing” up, check out this property. Complete property profile here: http://www.flexmls.com/link.html?ot38fihcxbn,7,1
Coeur d’Alene, Idaho is truly a great place to live. Newsmax Magazine just ranked CDA, North Idaho a top 25 place to live according to lifestyle and ideals. Get the magazine, see the link!Coeur d Alene, North Idaho Top 25 Cities and Towns
I have grappled with this concept for the last couple of days, I figure now is the time to take a stab at explaining inflation effect on property owners, investors, and property buyers. I am no economist, just curious. First of all, I need to explain inflation in my simple mind. Inflation is the price of goods/services going up as a result of the increase in money supply – a decrease in purchasing power. As the FED prints more money it dilutes the value of the money currently in the market driving up prices of goods and services. As a counterbalance to the rise of inflation, the government and/or market raises interest rates. Somehow, unemployment, output and productivity come into play as well.
INCREASE IN FORECLOSURES – Now, as the price of goods and services go up, property owners have to spend more of their income on these items reducing the amount of disposable income. Homeowners that are at the edge of their expenses who do not have savings, become unemployed or have not had increases in salaries will be pinched on making mortgage payments. When a person has to choose between food for family or mortgage, the food will probably win. There will be an increase in foreclosures. Take into account adjustable mortgages as well, when interest rates reset, payments go up making the pinch and foreclosure statistics a whole lot worse.
BIGGER POOL OF RENTERS – When people lose their homes, they are still going to have to have shelter. I think investment properties, rentals, will have a steady availability of tenants. We are seeing this now in North Idaho. Leases/rents are negotiable and reset after a set period of time investors can increase rents based upon inflation creating a hedge that a typical homeowner cannot.
INVEST IN ASSETS THAT CAN PAY OFF YOUR DEBT – Creating hedges in an inflationary environment is key to wealth protection. Inflation hedges include tangibles and goods (commodities). Land and property is definitely an asset but you have to buy right. Finding property deals that are close to the bottom as possible is key. Any good agent can give you a synopsis on the current market conditions in the area you would like to purchase. Good indicators would be level of foreclosures and short sales, active price ranges, and amount of solds/pendings in each price range.
HYPERINFLATION (a long shot) – Lets say hyperinflation comes around – that is – huge increase of inflation month over month. The value of money changes drastically and becomes worth less and less (i.e. it takes much more dollars to purchase the same thing). It makes sense if you have tangibles that increase at the same rate, if you owe 200,000 on your property and a pound of gold is worth 200,000 you can sell and pay off your house. I see having debt as being a plus in a hyperinflationary environment, AS LONG AS, you have assets, tangibles, goods that can counterbalance. The value in this for example, is now you can buy pound of gold for under 16,000. You have got to have a means to create income that is adjusted to inflation on a daily basis.
IN SUMMARY – The key to inflation and the housing market on you, the property purchaser is to make sure you get the best deal you can on a house you have interest in. Be aware of what is on the market, and the direction the market is headed in you area. Act in front of the market. Your real estate agent should be able to help you with local housing information. If you can get a loan, buy an investment property in foreclosure or one that is priced right. If your the property SELLER, get your price in front of the market now! That is where the buyer pool is. If you are backwards in value to loan on your house, shortsale it. Banks are taking losses on their loans, freeing up homeowners that could go into foreclosure. Good luck and let me know if I can help!
The current market trends remain volatile in the upper price categories and fairly consistent in the sub 175K range. Between 300K and 400K we have noticed an “uptick” in pending sales. This is do to motivated sellers in the 400+ range dropping prices and taking offers well into the 300’s. Upper level homes 750K plus, there are 7 pending sales. Of the upper end CLOSED properties, sellers are getting within 82% of their asking price! Recently, in the $125-175 range sellers are getting up to 98% of their asking price. First time homebuyers, inventory, and affordability are responsible for the vibrant sub 175 environment. Incentives (8K buyer credit, Interest Rates (sub 5%), and Variety of Inventory) are creating a buyer perfect storm. To view properties in all price categories visit my website http://www.LiveCDA.com. Let me know if I can improve my search function.
The North Idaho Multi-Family market is turbulent, with 425 options available. Only 41 (9.6%) of those are pending. There are 35 properties available between 175K and 200K. Not 1 is pending at this moment. I believe this is presenting an opportunity as motivated sellers are going to start getting anxious for offers. Look over the TMO multifam report attached. If you would like to look over the multi-family inventory please see http://idahomultifam.com/. Let me know if you would like to preview any of these properties.
Many foreclosures (REO) are available, with a constant churning of activity. See the current list here and call me to schedule an appointment to get into these vacant homes:
We are seeing MANY short sales with aggressive and knowledgeable agents successfully navigating the negotiations with the bank. There are now 144+ short sales available. Citi Mortgage, Countrywide and ASC are the hardest and longest to negotiate with 80+ days for approval. Ocwen, Home Equity, and EMC are the best with around 40 days for approval. To see the complete list of bank turnaround times, see my blog http://blog.livecda.com Further, see the current list of North Idaho Short Sales here:
I have developed a new web design with many new features. You can follow me on my social media Twitter, Facebook, Digg, and more. I have designed a new blog where I update all information and I have been taking videos for testimonials, The Mortgage Minute, The Real Estate Minute, and new property VIDEOS.
I listed a very nice 10 acre commercially zoned property in the CENTER of Kootenai County. It currently has a 2800 SQ/FT church with a 44,000SQ/FT set of plans available. Square, level and treed. ONLY $295,000. If you know of anyone looking for a commercial building, or a church in the valley looking to relocate, please let me know! See the listing data sheet here:
Thank you for taking the time to go over the information enclosed. If you have questions or would like to “chat” please never hesitate to get in contact with me. As always, I will take care of your referrals as if it were you. Please forward me anybody you know that is looking to buy or sell any property in North Idaho (I have a very well rounded experience in real estate). 208-660-5785. Have a blessed rest of April.
Right now is a great time to buy a piece of real estate in North Idaho. Below are 5 reasons I think now is “The Perfect Storm” for real estate.:
1. Prices are LOW. Every price range and every property category (vacant land, single family residential, commercial, multi family, waterfront, waterview, acreage) has opportunity written all over it. There is an unprecedented number of foreclosures available on the market affecting price levels. Builders are competing fiercely for business, keeping price levels low. Mix in motivated sellers, short sales, and REO’s creates a great buying opportunity.
2. Inventory is high. Every price point and every property category has plenty of options to choose from. In our Association of Realtors, we have never seen this number and variety of properties to sell. Take advantage of our market and get the house you have always wanted at prices you never could have afforded.
3. Interest Rates are LOW. I just talked to a friend of mine at Wells Fargo Home Mortgage, he just informed me he locked one of my clients into a 4.5% 30 year mortgage. This is unprecedented. Interest rate have not been this low since the 1960′s. If you have documented income, meaning you have a job, you can most likely get a loan today.
4. First time homebuyer credit. If you have not owned property in the last 36 months, you are entitled to take advantage of the $8,000 homebuyer tax credit. Just for buying a property, Uncle Sam is going to give you $8,000. What could you use this money for: a new fence, LCD TV, landscaping, vacation?
There we have it, low prices, high inventory, low interest rates and the right incentives. A buyer “perfect storm”. Take advantage of this today.
Now is the time to buy real estate in North Idaho. Interest rates at an all time low, inventory at a max, incentives from the federal government. This is the buyer “perfect storm.”
5,000 SQ/Ft Commercial Office/Retail Building in Midtown Coeur d’Alene, Idaho
ONLY $390,000. Fantastic opportunity for a business that needs space or an investor looking for an investment. All one level on busy 4th Street and Linden Ave. Clean building, built in 1985, original owner, .30 acre. The premier North Idaho commercial property available NOW.
Across the nation real estate existing home sales are up. There are more properties selling now that prices are dropping to levels that buyers feel comfortable. We are seeing that in the North Idaho real estate environment as well. Prices have been dropping and we are seeing a huge level of buyer activity, particularly in the sub 175K range.
I was in some new construction model homes this weekend with real estate clients (Hawks Nest, Viking Construction and Hallmark Homes (I wrote 3 offers on Saturday). I was observing that there was a constant stream of buyers coming in. I think North Idaho real estate will be picking up starting now. Looking at the total market overview, we are at a 20% pending ratio for sub 175K homes (number of listed to number of pending), which is very strong compared to the last couple of months. If you would like a copy of this weeks Kootenai County Total Market Overview (TMO), just let me know and I will send you a copy.
Hello All! I hope the current economic conditions are treating you gently. This edition of my NI Real Estate Analysis I want to cover 1. Market Activity, 2. Opportunities/Deals in Foreclosure/Short Sale 3. Buyer “Perfect Storm” and 4. “Retreat/Remote” Self Sufficient Properties. Also, please see my site redesign at http://www.LiveCDA.com and let me know your comments.
January and February have been tough months in sales with total unit sales at 117 and 110 respectively (according to MLS data). Sold volume has been very low at $34M & $20M. This would account for our average monthly sale price dropping from $294K to $188K! However, the property price ranges between 125K-175K are producing double digit pending ratios! This makes sense as it is the first time homebuyer market. Upper level properties Days on Market (DOM) continue to climb, currently at 182 days to sell. Once they do sell, we are getting within 93% of ask price. Of course, to sell, they have to offer best quality, or best price. Occasionally both. I get the question often, when do you think the right time to buy is? I think if you’re a first time homebuyer the time is now. If you’re in the residential upper level (300k+) buying mode, I think property prices may come down a little more, it may pay to wait, however, it is hard to tell if interest rates will stay this low. If you have a property you like, go for it. Call me if you want to “present” an offer to purchase. See the attached documents for more in-depth analysis.
Regarding anyone that has not owned a home in 36 months, I think now is a “perfect storm” for buying. Congress passed an $8,000 tax credit that purchasers get with their taxes if they buy before Dec. 1. Further, prices are low. The good houses (best price, best quality under 175K), we are getting multiple offers on. Current interest rates are dating back to 1969 levels. We have the right buyer incentives, low prices, low interest rates. If buyers have a job and descent credit, they can probably get a loan.
REO/FORECLOSURE PROPERTIES
http://www.flexmls.com/link.html?op5gf6yzhd6,7,1
SHORT SALES
http://www.flexmls.com/link.html?op5gf8nuf12,7,1
Black Rock Lot for $75,000 (Does not include membership)!
http://www.flexmls.com/link.html?op5gerq9rzv,7,1
There has been talk that Idaho is a great place to “rebound” to if world frenzy continues to get livelier. With “back-up” alternative energy retrofits getting more reasonably priced w/ incentives (wind, solar, biomass), and property prices at low levels, inventory up, I think now is great time to secure a piece of that “getaway” property. Here is a list of North Idaho properties (in all price ranges) that I generated that include trees, multiple acres, private well or water source, ect…
http://www.flexmls.com/link.html?op5gk5b3f7w,7,1
Thank you for your referrals “in advance”! I will take care of you, your friends and family, neighbors, and more. I have knowledge in all aspects real estate: residential (www.livecda.com), commercial (northidahocommercial.com), waterfront (idahowaterfrontproperties.com), land (landcda.com), multifamily (idahomultifam.com) ect… Have a great March, and let me know if you have comments, questions.
