Windermere Powerhouse Group knows how important it is to understand our real estate market and how curious everyone is to know what is going on in our community. So we’re sharing our monthly market snapshot and detailed reports of the Treasure Valley real estate market. Reports are available through the links below and our agents are always available to answer questions and provide information on specific areas you are interested in.
Inside the walls of any Boise real estate office you will hear the words “growth” and “new” countless times. As one of the fastest growing cities in the country, we see evidence every time we step out our door. But Boise also has a rich history. At Windermere Powerhouse Group we remember that every day we walk into our office in the historic Powerhouse building. In the midst of this exciting growth, we strive to preserve the memories and tradition that are the foundation of our great city.
“In every community, every county, there are certain buildings, certain neighborhoods, open spaces, which traditionally have had special meaning for local residents and which proclaim to all comers the unique character and heritage of that particular place.” Mavis Bryan, Zoning for Community Preservation
The North End is often the neighborhood that is most reminiscent of Boise’s early years. When Windermere Powerhouse Group listed the home at 1111 N. Harrison Blvd, a home on the National Register of Historical Places in Idaho, we were extra curious and wondered, “If those walls could talk, what would the story be?” First,we needed to discover what it means to be on the historical register. Among a number of standards, the most fitting for this one of a kind house is the significance it holds with its master craftsmanship, unique characteristics, artistic features and architecture of its era. It began when Robert Newhouse submitted a building permit in 1938 for what would become this iconic Tudor Revival style home. Although unconfirmed, the house was likely designed by Jedd Jones, an architect who regularly socialized with the Newhouse family and would later be responsible for many residential designs found throughout Boise. The steeply pitched asymmetrical gables, double stacked chimney and leaded glass windows are the quintessential architectural features of a Tudor Revival, a style which borrows design elements from English medieval houses.
The Newhouses, a family with deep Idaho roots and active in Boise society, moved in the summer of 1938 and shortly after the home was featured in the Idaho Statesman. The reporter noted that the majority of rooms were painted in various shades of blue to compliment the family’s antique collection. In a true moment of history repeating itself, the current dining room, a favorite of all who visit, is currently painted a beautiful shade of blue. The Idaho Statesman proclaimed it “one of the city’s most charming houses,” and over 80 years later, we couldn’t agree more!
At Windermere Powerhouse Group we often field inquiries about our own iconic office building, also part of Idaho’s Historical Register. Built in 1913, the building originally housed the Beaver River Power Company, a competitive start-up that produced coal-fired electricity for downtown Boise and the Valley’s trolley system. Over the years, hydroelectricity replaced steam turbines and the building became reclassified as a “non-performing asset.” In 2000, the building was restored and transformed into a venue for weddings, proms and special events. More recently, we were blessed with the opportunity to locate our Windermere Powerhouse Group brokerage within these four walls. Many of our friends and clients previously built fond memories here, and we feel honored to keep that tradition. When you walk through our doors you’ll instantly feel welcome, and see how we embrace our growing city while honoring the past that brought us here.
If you would like a tour of the Windermere Powerhouse Group office, you are welcome to stop by. Share a cup of coffee with beans we roast in house, see the beautiful remodel and of course, we are always here to help you with all of your real estate needs. 621 S 17th St. Boise, 208-920-5966, firstname.lastname@example.org
Today is Windermere Community Service Day. Staff and agents in Windermere offices across the country are spending the day volunteering in their communities and we’ve been at Whitney Elementary…..but more on that later! We still wanted to post our monthly real estate statistics for Ada and Canyon County. In this real estate market with limited inventory, there are challenges and opportunities for buyers and sellers. Windermere Powerhouse Group agents are experts here to assist you with strategies to reach your real estate goals. Contact us if you’re interested in learning more.
For detailed information on Ada and Canyon County Existing and New Construction check out the reports below.
The following analysis of select counties of the Idaho real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent.
Job growth in Idaho continues to moderate. The state added 19,400 new jobs over the past 12 months, representing an annual growth rate of 2.7%. That said, the growth rate remains well above the national average of 1.7%. In March, Idaho’s unemployment rate was 2.9%, matching the level seen a year ago. The state remains at full employment, and it’s worth noting that the employment rate remained below 3% even as the labor force rose by 2%. This suggests the economy remains very strong as there are still job openings to accommodate new workers. Idaho continues to outperform the nation in terms of economic vitality and will continue to do so for the balance of the year.
- 4,440 homes were sold during the first quarter of 2019, representing a drop of 4.3% compared to the first quarter of 2018.
- In Northern Idaho, Shoshone County was alone in experiencing sales growth, with an increase of 12% over the first quarter of 2018. There was a substantial drop of more than 15% in Bonner County, but this is a small area, making it prone to significant swings. In Southern Idaho, we saw modest sales growth in Payette County, modest declines in Canyon and Ada counties, and significantly lower sales in the small area of Boise County.
- Year-over-year sales growth was positive in just one Northern Idaho market, and only one of the Southern Idaho markets saw sales rise relative to the same period a year ago.
- When compared to the first quarter of 2018, the number of homes for sale was lower across the board in Northern Idaho and in most Southern Idaho market areas. It’s likely that this contributed to the decline in sales.
The 2019 Ada County Parade of Homes is wrapping up this weekend. Since 1956 this annual event puts new home construction trends to the forefront. From decor to architecture style, visitors on the Parade take notice and compare to previous trends. This time of year we get the most questions about new home construction in the Treasure Valley. With Idaho’s population increase of 2.1 % in 2018, one of the second fastest growing states, and Boise is showing up on a Top Ten list at least once a month, we are getting more questions than ever. This growth means an abundance of new residential construction and we wanted to share more information with you.
Below are maps and an accompanying report for new construction home sales in Ada County broken down by subdivision and price. Click on the thumbnail to see a full size map and report. Be sure to ask our agents for supplementary detail if desire more than a snapshot. They’re equipped to share detailed information within each submarket, by price point or size of home, so that you can make the best buying or selling decision for you.
NE Boise & SE Boise N & NW Boise/Garden City W & SW Boise/Boise Bench
Eagle & Star SE & SW Meridian NE & NW Meridian
Full market statistics reports on Ada and Canyon County
“How’s the market?” is the one question that Windermere Agents get asked most. It is the same question we ask when we meet an agent from another state. It’s a simple question with a very complex answer. Windermere Powerhouse Group knows how important it is to understand our real estate market and how curious everyone is to know what is going on in our community. So we created a market snapshot and a detailed report for every area of the Treasure Valley that will be posted monthly here on our Blog. This month we are featuring Ada County Existing Home Sales (i.e., greater than 1 year old). Links for other areas and detailed reports are below.
1. Spring and summer are historically the seasons when market activity increases. More homes are available for sale, and under the current market dynamics, demand immediately follows. Total Year-to-Date (YTD) 2019 transactions are down from 2018, and the shortage of supply is a major contributor. As you’ll see below, overall prices continue to increase yet days-on-market remain at historically low levels. If you are interested in buying or selling your house now is the perfect time to take action.
2. Existing home prices have risen every year since 2011 and have taken a substantial increase in the last several years. Average prices for Ada County existing homes have continued to climb in 2019, currently up 3.6%. Windermere Real Estate’s in-house economist, Matthew Gardner, forecasts 2019 Home Price growth to be 4.5% nationally, 8.9% in Ada County and 8.1% in Canyon County. So it’s actually a safe time to buy or sell a home too. Gardner forecasts the number of Ada County households to increase by 11.1% over five years, while Canyon County by 13.3% growth.
3. Last March, nearly half the existing Ada County homes that sold closed “At” or “Above” the original asking price. However, that trend varies greatly throughout the Treasure Valley. The graphs above show a snapshot of the Ada County averages compared to the North End and Boise Bench. There are numerous factors affecting a home’s price, and it’s evident that overpriced houses cost their sellers 2-3 mortgage payments last month. Specific neighborhoods have their own unique characteristics, and the REALTORS® at Windermere Powerhouse Group each possess the expertise and data to lead your next real estate transaction.
If you’d like more detailed information, have interest in learning more or would like a thorough valuation of your current home, we’d love to hear from you.
Specialized Areas and Construction Types
A home is the largest investment most people will make in their lifetime, so when it comes time to sell, homeowners often wonder what they can do to get the most return on their investment. Many have the misconception that remodeling is the way to go, but that isn’t always the case. Rather than going all-in on upgrading your home, you should know which home improvements are worth it, and which ones aren’t.
We’ve sifted through the research and come up with a quick list of five home improvements that’ll help buyers fall in love with your home when it comes time to sell.
1. Add a little curb appeal
Curb appeal is critical. As the name suggests, it’s the first thing buyers see when pulling up to the front of any home so it needs to be in nearly pristine condition. Start with the garage door for the most immediate return. According to Remodeling Magazine’s 2018 Cost vs. Value report and Money.com, the cost of updating your worn builder-grade garage door with an upscale steel model is about $3,470, and it’ll boost your home’s value by 98.3 percent of the installation price, which means you’ll lose about $60 when it’s all said and done.
Landscaping can also go along way for a minimal upfront investment. Six rounds of fertilizer and weed control will set you back about $330, but when it comes time to sell, you’ll see an ROI of about $1,000 according to a survey by the National Association of Realtors.
BY ANDREA V. BRAMBILA, Staff Writer
Seattle-based brokerage Windermere Real Estate has launched a new marketing campaign highlighting not its considerable technology chops, but its agents’ willingness to go above and beyond for their clients.
The campaign follows the company’s $10 million rebranding effort last year, in which Windermere unveiled a new logo, and a celebration earlier this month in which the company marked its 30-year anniversary and a $38 million funding milestone for its nonprofit Windermere Foundation. Windermere has more than 300 offices and 6,500 agents in Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington and Mexico.
“We’re lucky to have a brand with such a rich legacy, but we have to continue to innovate and press forward,” said OB Jacobi, Windermere’s president, in a statement.
“The brand refresh that we did last year was part one of Windermere’s brand story; part two is about bringing our stories to life and showing our clients how we’re ‘all in’ for them.” Continue reading
The following analysis of select counties of the Idaho real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact our office.
Job growth in Idaho slowed in the fall of 2018 but the state added 13,200 new jobs over the past 12 months, representing an annual growth rate of 1.8%.
In November, the state unemployment rate was 2.6%, down from 3% a year ago. The state remains at full employment, which explains why we are seeing a slowdown in employment growth. I fully anticipate that the state will return to above-average growth in 2019 and continue its trend of adding jobs at well above the national pace.
HOME SALES ACTIVITY
- 5,308 homes were sold during the fourth quarter of 2018, representing a drop of 3% compared to the final quarter of 2017. Continue reading…