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Tips For Buying and Selling a House at the Same Time

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Buying a Northern Idaho Home? Search all Homes for Sale
Selling a Northern Idaho Home? Check out our FREE Home Value Report

What happens if your house sells before you buy another one? Don’t worry, you have options.

In this market, selling a home before you can find the next one is happening more often. That’s because inventory levels are extremely low and the market is very active. Multiple offer situations are also on the rise. If you find yourself in this situation, you have two main options.

First, if there is enough equity in your house and you have decent credit, your lender should be able to give you a bridge loan. The bridge loan allows you to purchase a house first and then, when your house sells, you have two or three months of just interest payments. This is a good option because you don’t have to move twice.

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Home equity is up, so a bridge loan is a good option for many people.

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If you can’t get a bridge loan, consider finding a short-term rental. This is a good option if you are buying a new construction property. Most homes take 10 to 12 months to build, and it is very easy to get a 10- or 12-month lease.

Choosing a bridge loan or short-term rental can take a lot of stress out of the process.

Remember, a qualified Realtor can help. Most good, qualified agents work with a good lender. Those lenders will tell you straight up whether you’re eligible for a bridge loan. The good news is that many people can do the bridge loan these days because home values are up and your equity is back where it should be.

If you have any other questions, give me a call or send me an email. I would be happy to help you!

Are There More Benefits to Renting or Selling?

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Buying a Northern Idaho Home? Search all Homes for Sale
Selling a Northern Idaho Home? Check out our FREE Home Value Report

There are plenty of advantages and disadvantages to selling a home in Northern Idaho. The same could be said for renting a home too.

The average days on market in Northern Idaho depends on price. If you price competitively and it’s in the $200,000 or lower range, you should expect to sell within two weeks. If you’re in more of a high end price range, you should be sold within a month if you’re priced competitively.

Appreciation has been at about a 3-4% average over the last few years. There are some subdivisions that have seen up to 7%, however.

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If you choose to sell now, you will benefit from the cash flow to go out and make another investment or use that money towards another rental property or home purchase. Another benefit of selling now is that we have seen appreciation in the California markets flatten out, which tells us we’ll likely see a similar trend in a few years.

If you choose to rent your home instead, you will have that renter’s income to cover your mortgage so you can still build that equity without putting too much of your own money into it. Also, if you’re moving out of the area and plan to come back at some point, you know that you’ll still have that home no matter what else happens.

If you have any questions for us, feel free to give us a call or send us an email. We would love to speak with you!

Fast Offers Win in the Northern Idaho Market

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Fast Offers Win in the Northern Idaho Market

Buying a Northern Idaho Home? Search all Homes for Sale
Selling a Northern Idaho Home? Check out our FREE Home Value Report

Should you wait to make an offer when a new listing hits the market in Northern Idaho? Heck no!

One of the reasons we say that is because a lot of times when a home is priced right and it’s a good deal on the market, it’s not on there very long. If your offer isn’t in with the first few, it’s brushed under the table and you won’t get a chance at the home.

That being said, you should still use caution when putting an offer on a home, because it’s a big life investment. You should know the maximum amount you’re willing to spend beforehand. Also know that you’ll do a home inspection to make sure the purchase is a good deal for you. You just want to get your offer in as soon as possible.

Fast Offers Win

It’s important to know your market, and that’s what we’re here to help with. We can tell you if something is a good deal or if it doesn’t fit your needs. If we can help you with any questions, reach out with a call, text or email. We look forward to working with you!

The Active Market Suits Buyers and Sellers in Northern Idaho!

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The Active Market Suits Buyers and Sellers in Northern Idaho!

 

Buying a Northern Idaho Home? Search all Homes for Sale
Selling a Northern Idaho Home? Check out our FREE Home Value Report

The active market has created some excitement in the first quarter in Northern Idaho’s real estate market that you might be interested in.

As a real estate community, we’ve sold 1,116 properties in the first quarter, which is a full 7% higher than last year. We’re expected to sell more than 5,000 properties this year. The banks are still lending, and the interest rates are still incredible. For that reason, it’s a healthy time to both buy and sell.

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It’s not just a buyer’s market or a seller’s market – we’re calling it an active market. We’re expecting our second quarter to be very strong, and the second quarter is always the biggest of any year.

If you’re interested in finding out what your house can sell for in this prime selling season, give me a call or send me an email. If you’re interested in buying, give us a call or send us an email, too. We look forward to helping you!

What’s the Condo Market Like?

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What Does The Condo Market Look Like?

Buying a Northern Idaho Home? Search all Homes for Sale
Selling a Northern Idaho Home? Check out our FREE Home Value Report

Today, we’re going to discuss our sizzling hot condo market in Northern Idaho! Why is this market doing so well right now? Here’s why.

  • They’re actually selling. Consumers purchase and eagerly move into condos. Instead of renting, they’re committing to a different kind of residential lifestyle.
  • Baby boomers are downsizing. People want to invest in other things, like travel, compared to a brand new home. Plus, condos can be secure for long trips.

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  • Banks are finally lending. Homeowner associations are improving. We have properties priced up to $1 million, so buyers are able to work with lenders better now compared to the past.

If you’re thinking about buying or selling in the surrounding area, contact me by phone or email. I’d be delighted to help answer your questions and serve your real estate needs! What Does The Condo Market Look Like? It looks like its time to sell!

What Do Good Agents Do While You’re Not Looking?

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Buying a Northern Idaho Home? Search all Homes for Sale
Selling a Northern Idaho Home? Check out our FREE Home Value Report

Whether you’re buying or selling a home, we are always looking at market trends — what homes are being sold and what homes are failing to sell. We are working constantly behind the scenes in order to help you get the real estate results you desire.

We prospect every day. We call buyers and sellers constantly to see if we can find the perfect match for you. If you’re a seller, I’m calling buyers to tell them about your property and to see if there is anyone looking for a place like yours. If you’re buying, I call sellers to see if there is anyone selling a home that fits your wants and needs.

We also talk to a lot of other agents. We do something called brokers’ opens, which allows us to see a lot of different homes very quickly. During these opens, we talk to other agents to see what homes they have coming onto the market and to promote our own listings to them. It’s a great exchange of information among professionals in the field, and it all benefits you, the client!

We also spend our money on marketing. Before we get paid, we are putting our time and money on the line to get our clients’ homes bought or sold. We have professional stagers and photographers we employ for your benefit, all before getting paid!

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We help the transaction go through as smooth as possible. There are a lot of potential road bumps that could derail a transaction, but we have the experience and the strategies to ensure a successful closing.

If you have any questions about the other things we do behind the scenes to ensure the process is as stress-free as possible, please don’t hesitate to reach out to us. We would love to help you soon!

North Idaho Real Estate

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North Idaho Real Estate: The Market Climate in Northern Idaho This Year

North Idaho real estate is having a dynamite year!

With the inventory light and more ‘Sold’ placards going on top of ‘For Sale’ signs in front of homes, its a seller’s market, a good sign for many that the economy has drastically improved.

Although interest rates increased in December, we don’t anticipate this affecting our market too much, if at all. To learn more, watch this video!

Find out what your home is worth for FREE!

Northern Idaho Real Estate: Serious Buyers Are Out There

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The Coeur d’Alene market has shifted recently. There is a higher concentration of serious buyers, as well as less inventory on the market. This is the perfect storm if you’ve been thinking about selling your home. Why would you wait 4-6 months to sell when you can sell faster and for more money now? To see why we think it’s smart to list sooner rather than later, watch this short video!

VIDEO: Decorate Your Home to Sell in Northern Idaho

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Contrary to popular belief, people are still buying and selling homes during the holidays. In fact, it’s actually a great time to be in the market as a seller. You’ll face less competition and the buyers are much more serious during this time of year. Watch this video to learn more!

Three Tips for Today’s Sellers

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A neat home attracts buyers through listing photos and open houses. It helps your home sell for top dollar. For instance, buyers appreciate your efforts to clean and reduce clutter. For more home selling tips, check out this video!

            

CALL PEHR BLACK (208) 818-7703
1099 S. WELLS ST. STE. 200 MERIDIAN ID 83642