Don’t miss out on your opportunity to own this meticulously maintained custom home on an acreage in Meridian! Very open and inviting home with upgrades sure to please! This home has 3 bedrooms, 2 baths. With a very private master suite including it’s own balcony, walk-in shower, walk-in closet and soaking tub! Separate detached shop, RV parking with outlet, irrigation available Lots of potential here with this property, must see to appreciate!

Contact me if you have any information on either of these properties! Andrea Stoffle 208-284-5372

Amazing custom home on acreage with shop and room for horses! Gorgeous panoramic views of the Boise Valley and Foothills. The kitchen features granite counter tops. Open and inviting floor plan with vaulted ceilings, loft area, and an abundance of storage! The master suite has its own private balcony, along with a walk-in shower, soaking tub, and spacious walk-in closet. Also enjoy the large deck on the back of the home, perfect for entertaining and barbecues. There is a fully functional detached 24X24 shop and RV parking with 50 amp RV outlet. Meticulously maintained and move in ready!

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Interest rates are at historic lows and will not remain this low forever. In fact, I’ve heard predictions rates will more than likely rise rather than go significantly lower. At the level rates are now, your payment will be minimally affected if they were to drop any lower.

Home prices, on the other hand, are slowly increasing, especially if you’re looking for a home under $150,000. Our inventory in Ada County continues to remain low, and homes in the lower price ranges are going for asking price if not more.

Yes, you can still snatch up a great foreclosure property at a great price, but be forewarned you will not be the only one wanting the same property. It may even sell for well over asking price! I have seen a lot of investors buying these properties for cash, which is pushing a lot of financed buyers out.

If you are still debating whether or not you should wait or buy now, my advice to you is buy now. I believe the window of opportunity is narrowing and before long interest rates will be rising. Remember back when home prices were at their highest?  If you had known then there was going to be a housing crash, wouldn’t you have sold your property when you could have for top dollar?  Well of course you would have! However, most of us didn’t realize a crash was coming.

My point is, if you are sitting on the fence waiting for home prices and interest rates to be at rock bottom, you may be making essentially the same type of mistake many of us made thinking home prices would keep going up.

Let’s say you currently can afford a $200,000 home with the interest rate at 4%. Well, if you wait around and interest rates happen to go up to 5%, you have lost affordability of a home by 25%. You can no longer buy a $200,000 home;  you will be looking at a $175,000 home instead. That is a huge buying power difference most of us don’t realize we may lose!

Some buyers might wonder whether they are better off continuing to rent or if now is a good time to buy. Researchers point to what they term the “hurdle rate . . . the point of equilibrium between renting and buying where it’s a wash in terms of wealth building.” If you find yourself thinking you might want to make the leap from renting property to owning your home, check out this article at Speaking of Real Estate.

With inventory levels at an all time low, the Boise and Meridian area is seeing a shortage of homes on the market. Now is the time to get off the fence and purchase a home, or you may miss out on a great price and exceptionally low interest rates.

Boise’s economy comeback means fewer houses have flooded the market and prices for existing homes may be starting to rise.

money.cnn.com/galleries/2012/real_estate/1201/gallery.turnaround-housing-markets/6.html

It is harder then ever to get a mortgage today. Lenders look at everything and will question anything. One key point to keep in mind is to make sure all the funds in your accounts are “source-able.” By this I mean you cannot have mysterious deposits into your account with no documentation as to where they came from or how you received them. You must have pay stubs, receipts, etc., or the lender will not count this money as source-able or include it as funds toward your closing costs. During the time your loan is being processed and you’re waiting to close on your new home, do not go out and spend a large amount of money on anything. Do not buy a new car, get a loan for new furniture, deposit money into your account with no records available as to where you acquired the money. Buy only necessities during this time. Everything else can wait.

Simple credit tips to boost your score:

• Have a variety of credit such as an installment account, revolving credit, credit cards (a few, not a lot!).
• Do not borrow more then 30% of your credit limit on credit cards.
• Charge small amounts to your credit cards, but pay them off in full at the end of each month. Keeping an account inactive for 3 or more months can bring down your score.
• Do not close out old accounts, even if you do not use them. This will affect your length of credit history, and can hurt your overall FICO score.

Keep in mind that a few days before closing on your new home, your lender will ask you for your latest bank statements, pull your credit report again, and verify your employment. If anything has changed, you could end up being denied financing and lose out of your new home.

Next week: What you can do to help your home sell faster.