In a new trend the Baby Boomer generation is entering retirement early and findings indicate they are bucking the very idea of what being a retiree means.Turns out Baby Boomers are no slouches when it comes to taking their retirement time and making the most of it, with Boomers being among the most active and social of recent retiree generations.

This could mean big changes in the housing industry in the years to come, including what new retirement communities will look like.

Today’s boomer retirees are still very active and adventurous as well as highly connected, a survey by Shea Homes shows. They want to travel and enjoy their family and friends and seek to be a vibrant part of the community. Understanding and taking care of the needs of this new generation of retiree’s is integral to offering a complete set of real estate skills to this growing market.

The survey mentioned has also  found that social media isn’t just for the younger set. Boomers say “they prefer collecting friends on social networks just as much as they do recipes – and even rank it slightly higher (37.28%) than collecting pictures of the grandkids (33.64%). This reinforces the impact of having a strong digital presence on social networks like Facebook and Twitter for today’s progressive real estate professional.

Among the most important factors to this boomer generation? Location, location, location of course! Being within driving distance to family and friends ranked as the most important factor of maintaining a balanced lifestyle for this active group.

Retirement is now focused on a new chapter of life, full of re-invention, instead of simply an “end phase.” Traveling, new hobbies, and being active rank high on the list of what retirees look forward to. Overall, boomers are interested in healthy relationships and strong mind-body balance. Thankfully Boise offers many of these amenities right at hand as it is centrally located within the state, which means not only being a hub for some of the best medical care in Idaho, but also being near outdoor activities and within easy traveling distance to friends and family. In addition outlying cities like Eagle and Meridian offer a wealth of 55+ communities perfect for the independent retiree.

Are you looking for homes in the Boise area? Boise has a number of great homes on the market right now including many wonderful retirement communities. Visit my Boise Area Homes website to find homes in Boise or anywhere in Idaho quickly and easily!

With so many great homes available in Idaho right now, it can be hard to make that all important first impression with potential buyers. Smart sellers aren’t deterred from this fact; are getting the most bang for their buck by stepping up the curb appeal.

According to the latest Remodeling Cost vs. Value Report, the National Association of REALTORS® (NAR):

“Nine of the top 10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects.”

With these exterior projects outperforming their remodeling counterparts, adding a little curb appeal to your home on the market may not only be a good idea but could make all the difference in attracting a buyer and the return on your home.

This is not to say that needed interior updates should be forgotten, as a good second impression within your home may be what seals the deal and can make you stand out from the competition in your area. It is simply that in today’s economy, even according to the National Association of REALTORS: “remodeling projects, particularly higher cost upscale projects, have been losing resale value in recent years because of weak economic conditions.”

The appeal of curb appeal projects, really is that a little money can go a long way. Topping the list? Steel entry doors are returning 102.1 percent of their cost upon resale, these more sturdy exterior doors lending a stability to the homes entrance as well as better insulation value.

While most projects don’t bring the profit returns of steel entry doors, sellers have some other great options for attracting buyers. Here are a few exterior updates that might be worth a look:

Siding and window replacements – 70 or more percent of costs recouped

Midrange garage door replacement – 83.9 percent of costs recouped

Upscale fiber-cement siding replacement – 80 percent of cost recouped

Wood deck additions – 72.8 percent of costs recouped

“It’s important to remember that the resale value of a particular improvement project depends on several factors,” says National Association of Realtors® President Ron Phipps. “Things such as the home’s overall condition, availability and condition of surrounding properties, location and the regional economic climate contribute to an estimated resale value.”

With curb appeal once again reigning supreme it may be a good idea to take a look into what you can do to amp up the outside of your home – what you invest could end up making all the difference in your returns. Ready to make your move? Relocating in Boise? As an experienced Boise Realtor I can help you buy or sell your Idaho home! Contact me today to find out how a qualified Boise Realtor can help you find Boise Area Homes!!

Idaho Home Buyers Still Believe Buying a Home Is a Good Financial Decision

A recent survey by the National Association of Realtors reveals that nearly 8 out of 10 people strongly believe buying a home is still a good financial decision, despite ongoing challenges in the economy and housing markets. The survey which measured how affordable housing issues affect consumers also found job security concerns to be the highest they’ve been in 8 years of sampling, with some 70% of Americans saying that job layoffs and unemployment are the biggest problems in their area. 8 in 10 say these issues are a barrier to home ownership.

Some key results:

* Americans continue to believe that buying a home is a good financial decision

* More than 68% of respondents say that now is a good time to buy a home.

* The majority of renters say that owning a home at some point in the future is one of their highest priorities

* Job insecurity and the lack of jobs continue to be the primary obstacle to home ownership and market recovery.

* Respondents to the survey see the recession and job losses as the main reasons for the foreclosure problem, which is a change from last year when they more likely to blame homeowners who bought homes they could not afford.

* Frustration with banks is up: now a majority worry that banks have made it too hard to qualify for a home mortgage loan.

* 51% of those surveyed say foreclosures remain a big or moderate problem in their area.

* Most of those surveyed say that it is harder to sell a home in their neighborhood than it was a year ago.

* Over 70% expect real estate sales in their neighborhood to remain about the same over the next few months.

* 69% expect home values to remain the same. Demonstrating faith in level home values.

* Nearly 25% find themselves very concerned about the number of homes and condos for sale in their area.

* Most respondents are more concerned about a drop in home values rather than home costs being too high.

The next few months will be a big deciding factor on how steady these opinions remain, with Federal plans and regulations going into effect, as well as how major banks are looking into the way they handle the current foreclosure market issues in relation to their loan procedures.

Regardless, with many cities in Idaho gaining national recognition for their great quality of living and with Boise area home prices as well as mortgage rates continuing to be at historic low levels for those willing to take the leap there is a huge potential not only for finding great homes at great prices, but also for seeing significant returns for their real estate investment once the market bounces back.

Are you looking for homes in Boise? Tired of scanning endless ads for just the right home for you? Use my Boise real estate website to find the best homes in Boise online quickly and easily! You can search the local MLS for homes by city, price, or features and can even use my Dreamhome search to enter criteria for homes you are interested in and receive those listings in your email inbox every day as they hit the market. It has never been easier to find Idaho homes online!

Price Check!
Check the selling prices of comparable homes in your area. Realtor Websites such as mine can give you a general idea of what you should expect to pay. You can also do a quick search of actual MLS listings in your area.

Can You Afford It?
See what you can afford. Use the mortgage calculator on my website to see what your payment would be. Find out what your total monthly housing cost would be, including taxes and homeowners insurance. To get a feel for the maximum amount you should spend, including taxes and insurance. In some areas, what you’ll pay for your taxes and insurance escrow can almost double your mortgage payment.

Insurance is Good
To get an idea of what you’ll pay in insurance, pick a property in the area where you want to live and make a call to a local insurance agent for an estimate. You won’t be obligated to get the insurance, but you’ll have a good idea of what you’ll pay if you buy. For an idea of what you’ll pay in taxes, most properties on my website have property-tax information in the property features. Just remember that exemptions and the intricacies of local tax law (such as Florida’s Save Our Homes value cap) can create differences between what a homeowner is currently paying and what you can expect to pay as a new homeowner.

Closing Costs
Find out how much you’ll likely pay in closing costs. The upfront cost of settling on your home shouldn’t be ignored. Closing costs include origination fees charged by the lender, title and settlement fees, taxes and prepaid items such as homeowners insurance or homeowners association fees.

Budget!
Look at your budget and determine how a house fits into it. Fannie Mae recommends that buyers spend no more than 28% of their income on housing costs. Go much past 30% and you risk becoming house poor. Talk to reputable real-estate agents like me about the real-estate climate. Do they believe prices will continue falling or do they think your area has hit bottom or will rise soon? This insight into how the market is behaving could save you big money.

The Big Picture
Remember to look at the big picture. While buying a house is a great way to build wealth, maintaining your investment can be labor-intensive and expensive. When unexpected costs for new appliances, roof repairs and plumbing problems crop up, there’s no landlord to turn to, and these costs can drain your bank account.

The best step you can take is to work with a qualified Boise Realtor like Bob Kratt.  I can help you find homes you are qualified to buy that meet your needs quickly and easily in the Boise area, as well as help you avoid common mistakes and pitfalls that can bog down your home buying process. Don’t delay, call me today!

Sooner or later, no matter how well you know the people living around you a dispute can and will arise. Though it may be difficult to reach amicable decisions when it comes to neighborly disputes, finding a solution to these issues is well worth it, as no one wants to make an enemy of the people they live next to. When you share a property line with another person there will come a time when you will have to be involved in joint decisions. Should your fence be replaced? Who is responsible for sidewalk maintenance?

Here are three of the most common causes of neighbor disputes, and how to handle them in a “neighborly” way.

1. Trees:
For the most part you are allowed to trim branches that overhang into your property, but no more. The actual owner of the tree is whoever’s property contains the trunk of said tree; for the most part they are responsible for it’s maintenance. Should you damage or destroy a tree that is not your own you become liable for those damages which may well exceed the value of the tree itself (replacement of the tree, uprooting sod etc). If there is some danger of the tree falling onto a structure on your property or your home, then you may have some recourse through local or city ordinances, and of course any HOA bylaws.

2. Good Neighbors, Good Fences:
An ugly fence might not be to your liking but unless your HOA has specific rules regarding what kind of fence is allowed (and they likely do) you may have some trouble trying to argue aesthetical taste with your next door neighbor. Should the fence be in disrepair however it becomes the responsibility of the land owners on both sides to act accordingly – unless both owners have a prior agreement or have paid for their fencing separately. The best course of action is to talk with your neighbor first, as any changes to the fence may effect their property and many states have harsh penalties for crossing these boundaries.

3. If it’s too loud you’re too old:
Well, not quite. Almost every town has a noise ordinance which generally outline reasonable times and decibel levels at which residents can make noise. If you end up having recurring issues with a neighbor about the amount of noise they are making, or regarding the time it is being made, it may be best to allow local authorities to enforce their own ordinances and make a “courtesy” call to resolve the issue.

Whenever any issue arises, take it upon yourself to talk to your neighbor one on one, don’t be the neighborhood tattle-tale and call the HOA or police to come pounding down their door. Approach the situation gingerly. Be conscious that for every viewpoint of your own, there are 10 other, and equally valid, points. By working with some tolerance for the rights and privileges of others (even if they are not respecting your own) you can often come to a much more peaceful, and even mutually beneficial resolution to any situation.

Don’t go over to talk when you are angry or emotional. This will only hurt your chances of finding a good solution and likely lead to more strife with your neighbors.

Don’t be afraid to be truthful. You are worried that a tree will fall, yes, but you also hate the way it blocks the sun from your porch. State your issues calmly, and honestly, without stepping on toes if possible.

Unless it’s a city law or HOA ordinance, be willing to make a compromise, as well as to offer concessions to a neighbor. Everything in life is a bit of give and take, problems with the neighbors are no different.

Should your calm and direct approach backfire, or your neighbor becomes irate by no means should you tolerate abuse. Hand off this issue to the appropriate authorities like your HOA, or local city police.

As a last resort you may have to seek legal action and while this may break an already stressed relationship with the people around you sometimes it is the only way to come to a resolution. If you must go to court, be prepared, gather evidence by taking photos of the issue and document any interaction you have with your neighbor about the problem in question.

If a legal decision is rendered that is not in your favor, be sure to accept it and to move on. There is no need for harassment or childish behavior — it will surely only make the problem worse.

I hope these quick tips on how Boise Idaho Homeowners can resolve neighbor disputes have proven useful - in most cases if you work to be fair and communicate effectively with those living around you there will be very few issues that come up which cannot be properly handled without playing war with the people on the other side of the fence!

Don’t spend hours and hours searching all over the internet for the best Boise homes online – go right to where you can find Boise Homes for Sale quickly and easily, my Boise Realtor website!

There’s no putting it off, there will come a time during your home buying process when you will need to do a final walk through of the home before closing. Usually about a week before you close on your new home take the time to visit it one last time before it’s yours – this is a great opportunity to spot any last minute items that may need attention. Check to make sure the terms of your contract have been met and that the condition of the property has not change significantly since talks began. It doesn’t hurt to bring your a copy of your purchase contract as a reference guide during this visit as it can help you track down the little details without losing sight of the whole picture.

Here are a few things you should be on the lookout for:

1. Major appliances: Be sure that any items that were to remain in the home are still there, and that they are in good working order.

2. Major systems: Do the air conditioning, heat, and plumbing still function properly?

3. Repairs: As part of your purchase contract, the seller may have been required to make repairs. Be certain that these have been completed, or that the seller has a written timeline for when the repairs will be completed.

4. Walls and floors: Has any damage occurred to the floors or walls during the sellers move? Were rugs, artwork, or carpets covering water damage that was not disclosed? Dings in the walls?

5. Screens and Storm Windows: If it is the season for these items to be in storage, be sure they have indeed been left in storage and that they are in good shape.

6. Remotes: Garage doors, alarms,and sound systems likely all use a remote, some of which can be very expensive to replace. If these items were part of your agreement, be sure they have been kept with the house.

7. Cleanliness: The home should have been cleaned and all debris removed. Moving is stressful enough without having to clean up other peoples mess the first week you are there.

8. Fixtures: Light fixtures, curtains, and other items that were agreed upon should still be in the home. If they are not, let your agent address the conflict.

9. Landscaping: It may seem hard to believe but yes, some sellers may try to run off with your shrubs and plants! Check your contract to see what is supposed to stay; if plants were taken, let your agent handle the situation.

10. Exterior: Has there been any storm or other damage to the home since your inspection or first visit? Be sure to visually inspect the exterior of the house for damage. Once you have signed on that dotted line, the house is yours — and that could mean storm damage and all.

Closing time can be very hectic. Take the time for your final walk-through. It’s the smart thing to do in order to make sure no last minute items have been forgotten and that nothing has changed regarding the property during the time since your first visit.

The survey was conducted by the Certified Financial Planning Board of Standards in early July, and involved interviews with a statistically representative sample of more than one thousands households.

This survey revealed that despite nervousness about the stock market and unemployment some 66 percent of all consumers believe the economy will hold steady or even improve over the next six months. Eighty-three percent believe their own personal finances will get better or at least hold as is.

According to researchers most consumers are looking for a “long and slow return to economic growth”, meaning slow gradual improvements in major sectors of our economy including home sales and real estate.

Does that slow and steady theme sound familiar (to anyone other than the tortoise or the hare) ?

Without a doubt it is old territory to real estate analists at MDA DataQuick in San Diego. Their latest report on the housing markets of Souther California describe a “continual slow crawl towards normalcy”.

It might seem sort of hard to get excited about that news, but despite its slow progress: it is in fact progress in the right direction even though home sales in that area only rose some seven percent.John Walsh, president of MDA DataQuick, said the market there is still “out of kilter” by historical standards – with lots of foreclosures and short sales acting as a restraint on prices. However despite all the challenges more money was spent last month in SoCal than in the past two years, and more money was also loaned for home mortgages.

This is highly significant as the six counties of southern California are often considered the “canaries in the mineshaft” for the housing markets nationwide. They were hit extremely hard during the recession and they still have a long way to bounce back, but it IS happening.

Meanwhile there are growing indications of similar patterns underway in other major markets around the country — even some gains in home values. According to Corelogic, a large real estate date company, found last week that prices on a national basis are now 2.9 percent higher than they were this same time last year, including distressed sales! Prices overall were up in 60 of the top 100 real estate markets nationwide which is a big change from a year ago when all 100 were negative.

There is hope! That light at the end of the tunnel just might not be a train after all! And while the increase of home prices and sales is good it should also be a signal to you, the prospective home buyer, in the fact that the historically low home prices you’ve been seeing may be slowly on their way out! NOW is the time to buy!

The great home prices in Boise continue – for now! Don’t miss out on your chance to own a little piece of the Idaho dream – find the dreamhome that fits you via my Boise Real Estate website! Contact me, Bob Kratt, to work with a skilled Realtor that knows the market and who can help you!

Congress has extended the deadline for the popular home buyer tax credit by three months. The extension is only for the home buyers who signed a purchase contract by April 30 and need extra time to close their deals. The deadline to close was Wednesday and the extension will push that deadline to Sept. 30. This incentive offers up to $8,000 for certain buyers.

Backlogged with the number of people trying to close their deals by the previous deadline, Real estate brokerage offices and mortgage lenders lobbied heavily for the extension. They estimated that the extra time would assist some 180,000 people nationally who qualify for the credit but did not appear as if they would meet the Wednesday deadline to close their deals. This extension will greatly help people in Idaho and across the country who qualify for the incentive but whose deals have been delayed from closing through no fault of their own.

There are a lot of people in short-sales transaction where the escrows take a lot longer than is often expected. Most of the delays are because of lenders taking a little longer to get loans, or getting approval from short sales.

The federal home buyers tax credit was created in 2008 by the Bush administration as a $7,500 incentive for first-time purchasers, who were required to repay the money in a series of installments. Congress increased the amount to $8,000 in February 2009 when it passed the economic stimulus package and waived the repayment requirement. It is estimated that a total of 4.4 million people have received the credit since it was made nonrefundable last year. That includes 2.9 million first-time buyers and 1.5 million repeat buyers. It is hoped that extending this credit will allow many last minute home buyers the chance to get these valued tax credits and to help bolster the real estate market as a whole.

Looking for the best homes in Boise online? Tired of browsing endless ads and pages? My Boise Homes Online website makes finding the perfect home for you quick and easy! Visit my website today to start finding your dream home!

Idaho Home buyers and their agents have to be aware about the dangers of added balances to credit lines or opening new lines of credit shortly before they close escrow on their new homes. Most specifically it is wise to avoid these sort of activities during the period of time between applying for the loan and closing. New policies under Fannie Mae’s somewhat questionable “Loan Quality Initiative” that went into effect June 1 of 2010 requires lenders to “refresh” a borrower’s credit report just before closing — if buyers aren’t conscious of this that new skidoo just might sink their ship!

Let’s look at an example: Joe and Cindy are excited to offer on a home in Kuna they just love. They realize going in that they might be over-extending themselves a little but their loan officer has pre-qualified them with confidence that they will receive total loan approval without issue. Joe and Cindy’s formal loan approval comes in and they are thrilled with the prospect of their new home coming true, and in anticipation they visit the local furniture store to purchase (see: CHARGE) a new bedroom set, dining room, and sofa for their new spaces. It’s a little costly but they aren’t worried as they figure they can pay it off in a timely manner – Joe and Cindy are very credit conscious. What could possibly go wrong!?

That’s where the big bad wolf usually strolls into the story isn’t it? According to the new Fannie Mae guidelines the lender will run an updated credit report on Joe and Cindy just before closing. With their new high-end furniture their credit balance has definitely gone up and Joe and Cindy no longer meet the required debt-to-income ratio in order to qualify for their loan. The loan is pulled out from under their feet and their dreams of owning that new home crumble.

Fannie Mae’s “Loan Quality Initiative” was introduced in a letter to lenders February 26,2010. In this letter it was noted that during the past three years the need has been elevated for “an improved approach for working with lenders to deliver loans that meet Fannie Mae’s underwriting and eligibility guidelines”. To put it plainly, the loans that had been given to Fannie Mae previously too often turned out not the meet their guidelines. Sadly, this tended to be discovered well after Fannie Mae purchased the loan which of course but their own profit earning on those loans in jeopardy. The idea of this new initiative is to focus “on capturing critical loan data earlier in the process and validate it before,during, and immediately after loan delivery”. Yes, my friends, big brother IS watching and they want to know if you bought that 56 inch plasma flat screen instead of shelled over that cash to them.

The qualification of the borrower was not the only issue of concern. Among other items were determining owner occupancy (how many people you have living in a house), verification of social security numbers (are you who you say you are?), updated quality-control requirements (tracking), and a new policy on excluding certain entities from Fannie May loans (???).

To be quite honest, Fannie Mae guidelines should not require updated “refreshed” credit checks to be performed for borrowers. Fannie May states that “it is the LENDER’s responsibility to develop and implement it’s own business processes to support compliance with Fannie Mae’s requirements on loans delivered to us”. While it seems like Fannie Mae wants to set their own rules or take their toys home and cry if we don’t all play by their rules they do state in the same memo a few tips for lenders to consider: like refreshing the borrowers credit report just prior to closing.

Is it likely that a lender who sells its loans to Fannie Mae is going to ignore such tips? Uh, NO.

Their tips show that not only might a refreshed credit report show newly acquired debt but also that is might show new credit inquiries as well.”Credit inquiries listed on the credit report should be investigated to determine whether the borrower did in fact open additional credit resulting in repayment obligations.” You might want to wait on getting that new car or toy til AFTER  your house closes.

Some say that given recent events it is unreasonable to fault Fannie Mae for tightening their grip on procedures. Buyers need to remember that loan approval is based on statements of income and liabilities at the time of the loan application and if those factors change prior to closing it is likely to be found out and could very well undo any dealing.

Bob Kratt is a knowledgeable and experienced Boise Realtor. He has the skills you need to avoid possible home buying pitfalls like the ones listed above. Whether you are relocating to Boise, looking for quality retirement living in Boise, or just want to find that perfect home Bob can help!

Looking at the latest housing numbers released last week by the Commerce Department and the National Association of Realtors, one has to say that we definitely are seeing some improvement and are on track for an amazing year in real estate sales.

Single family median home prices are up by 4.5 percent for the year. Even in the Midwestern states, where the recession has been an anchor on real estate longer than other regions , prices have jumped by 6 percent.Resales of houses and condos in April were up by almost 8 percent – and now are 23 percent higher than they were the year before.Sales of newly-constructed homes also soared in April, up 15 percent. They’re 48 percent higher than April 2009.

So is there no need for concern? Isn’t all this great, super news for Realtors, home buyers, and real estate developers alike? That there will be no feared “double-dip”, or a fragile bottom waiting to drop out from under the market and send it into the economic sub-basement?

That’s right! These newest figures ARE great news, verging even on the extraordinary….but.

There is a little perspective we need to gain on the situation, the new numbers are great for a reason.

Most economists agree that April sales totals, maybe even March, are distorted upwards because of the expiring federal tax credits, padding the results with a little good old fashioned blue light special frenzy! Thousands of home buyers rushed to complete their contracts in the past two months to get the federal credit before it disappeared.

No one is debating that some real estate purchases were accelerated. “The upswing in April sales was expected because of the tax credit inducement, and no doubt there will be some temporary fallback ahead.” said Lawrence Yun, chief economist for the National Association of Realtors.

Many economists and market experts warn that we may see sales fall to another low for a month or two, even during the regularly very active summer months as a natural feedback reaction to the tax credit rush. Regardless of which most agree that in the longer term, if the overal economy can continue to rise even slightly we should see an excellent return to upward moving statistics. Not only do consumers have growing confidence in the economy and their own incomes, but as Yun points out: home buyers no longer fear further price declines — and that’s a crucial turning point in the cycle.

I can help you buy or sell your next home in Idaho. I specialize in Boise, Eagle, Nampa, Meridian, and Treasure Valley Idaho real estate including 55+ living in Boise and great Idaho investment real estate. Contact me, Bob Kratt, today!