Home for sale with owner financing $77,400
I often have buyers and investors request homes for sale in Pocatello with owner financing. Right now I have one listed for only $77,400 that will do owner financing. It is a large 5 bed 2 bath home. The seller is offering good terms. Contact me for more information on this home.
Here is a link to view the pictures and details: Home For Sale.
If you have an interest in buying a home on owner financing for yourself, or if you want to invest in real estate, call Greg Johnston at 234-0900.
Receiving a lowball offer on your home
It is not uncommon for buyers to make a low offer on a home they are interested in buying. These buyers may have heard that it is a buyers market and want to get the best deal possible on a home. Many buyers say “You don’t know if you don’t try” or “You have to start somewhere.” Buyers want the best deal possible and often make a low offer to see if the seller will come down in price more than the buyer may have expected. Many sellers ask me what they should do in response to a low offer on their home. Here is some information to consider.
Imagine that you just received a purchase offer from someone who wants to buy your home. You’re excited and relieved, until you realize the purchase offer is much lower than your asking price. How should you respond? I always suggest that you set aside your emotions so that you are not offended, simply focus on the facts, and make a reasonable counter offer that keeps the buyers involved in the deal.
Sellers often want to reject an offer and not even negotiate if they feel it is too low. Sellers are often offended that someone would only offer that price for their nice home. Sellers are emotional. They take a low offer personally as if the buyers do not like them and not just their home. If I was working as the listing agent for this seller, I would encourage them not to be offended. Do not reject or ignore an offer from a buyer that you feel is too low. Keep in mind that it may just be a starting point for the buyers offer. They may come up to a more reasonable price if you make a counter offer. A low offer may simply indicate we have a buyer who wants to negotiate and “get a good deal.” The good news is that the buyer likes your home enough to make an offer. Don’t be mad at this buyer; be mad at the other buyers who looked at the home and did not even make an offer!
A purchase offer, even a very low one, means someone wants to purchase your home. Even if the offer is laughably low, it deserves a cordial response in the form of a counter offer. I never suggest rejecting a buyers’ offer. I always suggest to make the counter offer back to them and let the potential buyer know what you are willing to sell the home for. Sometimes it is a good idea to go down on your asking price and remove any other costs they are asking you to pay. A lower price will attract a buyer who made a lowball offer more than a higher offer loaded with incentives (closing costs, repairs, appliances, etc.). Consider what terms you might change in a counteroffer to make the deal work.
As a listing agent, I will often ask the buyers’ agent why they made a lower offer. If that agent will share any information it could help you as the seller to come to terms with the buyer. Is it possible that your home really is overpriced? Is it possible that they know something we do not know and have not used to factor into our listing price?
If we can come to terms that work for both the buyer and the seller we will have a deal. If we do not come to terms, it is OK. There will be other buyers. The next offer may be higher and one that you like better anyway. If you have any questions about how negotiating offers works, call Greg Johnston, Realtor at 208-234-0900.
Super clean home for sale $284,900
I have just listed an amazing home in the Highland area for $284,900. This large 4-level home is in perfect condition. The home has recently been repainted and recarpeted. In addition to new carpet and paint, the seller has installed granite counter tops, travertine flooring, and installed new trim and moldings. The home shines. It is a 5 bedroom 3 bathroom home with a finished basement, 3 car garage, 1/3 acre lot, and 2,600 square feet. The master bedroom is very nice. There is a walk-in closet, jetted tub, and a balcony overlooking the back yard and a partial city view. Great price for $284,900. Click on this link to view the information and see the inside pictures:
If you are considering a move to a new home, call me. This might be the right place for you. A remodeled home is a rare find. This home is very nice and a great value. Call Greg Johnston, Realtor at 208-234-0900 to view this home.
1st Quarter 2012 Pocatello Idaho Real Estate Market Statistics
Spring is here! We made it through the first quarter of 2012. There is a buzz in the real estate market with the amount of activity going on right now. Homes are selling. New homes are coming on the market. Values have stabilized. Things are improving. When analyzing the market statistics I look at month over month trends and yearly comparisons. I like to know how this quarter in 2012 compares with the same time in the previous year of 2011.
At the end of March 2012, there are 426 homes listed for sale in Bannock County. One year ago, there were 569 homes for sale. That is 23% less inventory. This is a key statistic because less inventory will help home values to rise. Though they have not gone up yet, I believe they have stabilized and are no longer decreasing.
March 2012 had 54 home sales. March 2011 had only 38. That is a nice 30% increase year over year. The average sales price for a home in March was $142,790. That number is up, too. Home values have not come up, but a few larger homes have sold to bring up the average sales price. In fact, we had more home sales in the first quarter of 2012 with 117 sales than in the first quarter of 2011 when 96 homes sold. The increase in home sales is a good sign for our local market and economy.
I expect to see more people building new homes this summer. There has been an interest in building lots and new construction. There are not many spec homes on the market listed by builders. Look for that to change with some builders beginning to build a home to resale.
There are good investment opportunities in the market. If values do start to climb, investors may not have much time left to take advantage of the low prices and buyers market. I am not saying things have changed yet, but the tides are turning.
Click on the link to get a copy of the Monthly Market Report and Quarterly Market Report. If you have any question, please call Pocatello, Idaho real estate expert Greg Johnston at The Home Specialists 208-234-0900.
Building a New Home
Many home owners are intrigued by the concept of building a custom home. They are excited to be able to own a fancy, new home that they can enjoy living in. There are some concerns and reservations about building, too. Some people feel it could take too long to build and do not know how the home will look when it is finished. As a REALTOR, I love to help people build a new home. Yes, it takes time, but the benefits are great. Why should you build a new home? I always answer that by building a new home you will get exactly the home you want rather than settling for a home that is “close enough.”
Let me explain a few of the simple steps involved in having a new home built for you. If you own a home already we need to get it sold. We can often market your home for sale while your new home is being built. The next step is to identify a building lot. I can help with this. Second, we need to find a floor plan. I can help with this, too. There are many online house plans and I have a good selection at my office that I can show you as well. We need to find a basic plan you like and then make the changes to customize it to be exactly the home you want. Third, we need to get bids from home builders to see if we are within budget. I can help with this, too. I know the local builders and can arrange for several of them to give you a bid to build your new home.
I am often asked if it is more expensive to build a new home rather than buying an existing home. Well, it depends on what you do to your new home. You can make it more expensive by adding a lot of upgrades, or you can build a more affordable without upgraded features. The good news is that the cost of building has come down a lot in the past few years. Overall, it is not more expensive to build a new home. In fact, your new home will be less expensive to own over the first ten years you own it because there will be less maintenance and lower utility bills. Even if you pay a little more to get a new home, it will cost less to live in since it is more energy efficient than an older home, and since it will need fewer repairs for many years. Even home owners insurance is less on a newer home than an older existing home. The main expenses you will have with a new home that make it more expensive than an existing home could be things such as landscaping, installing blinds, etc.
Potential new home buyers ask if it is stressful to have a new home built. It can be if you get overwhelmed with details. Both the home builder and I will try to keep it easy on you. However, you do need to be able to pick colors and materials for your home. The most stressful part of building a home is staying in budget. Staying in budget is easy if you do not make major changes during the time of construction. No changes mean no surprises.
Overall, I think building a new home is a great idea. In the end you get a great home – just what you wanted. If you are considering building a home in the Pocatello, Idaho area, call Greg Johnston, Realtor. Right now in the spring is a great time to start building a home while the weather is good. Call Greg at 208-234-0900.
Spring cleaning to sell your home
Cleaning House: Secrets of a Truly Deep Clean
When preparing your home for marketing some simple home repairs and cleaning will make your home more appealing to potential home buyers. It will freshen the appearance of your home. Deep clean your house and you’ll brighten rooms and help maintain your home’s value. Here are a few simple ideas to consider:
De-bug the light fixtures: See that bug burial ground within your overhead fixtures? Turn off the lights and carefully remove fixture covers, dump out flies and wash with hot soapy water. While you’re up there, dust bulbs. Dry everything thoroughly before replacing the cover.
Vacuum heat vents and registers: Dirt and dust build up in heat vents and along register blades. Vents also are great receptacles for coins and missing buttons. Unscrew vent covers from walls or pluck them from floors, remove foreign objects, and vacuum inside the vent. Clean grates with a damp cloth and screw back tightly.
Polish hardware: To deep clean brass door hinges, handles, and cabinet knobs, thoroughly wipe with a damp microfiber cloth, then polish with Wright’s or Weiman brass cleaner ($4). Dish soap shines up glass or stainless steel knobs. Use a Q-tip to detail the ornamental filigree on knobs and handles.
Replace grungy switch plates: Any amateur can wipe a few fingerprints off cover plates that hide light switches, electric outlets, phone jacks, and cable outlets. But only deep cleaners happily remove plates to vacuum and swipe the gunk behind. Make sure cover plates are straight when you replace them. And pitch plates that are beyond the help of even deep cleaning. New ones cost less than $2 each.
Neaten weather stripping: Peeling, drooping weather stripping on doors and windows makes rooms look old. If the strip still has some life, nail or glue it back. If it’s hopeless, cut out and replace sections, or just pull the whole thing off and start new. A 10-ft. roll of foam weather stripping costs $8; 16-ft. vinyl costs about $15.
Replace stove drip pans: Some drip pans are beyond the scrub brush. Replacing them costs about $3 each and instantly freshens your stove.
If you are preparing to sell your home in Pocatello, Idaho, please call Greg Johnston, Realtor to help you prepare your home to sell. Call 208-234-0900.
Super clean home for sale $229,900
I have a great home listed for sale in the popular Highland area of Pocatello, Idaho. 1965 Shetland is a large ranch style home in perfect condtion. The home was built in 2008 and still looks like new construction with no visible wear. There are four bedrooms, three bathrooms, and a two car garage. The master bedroom is awesome. It is large and has a walk-in closet plus large master bathroom.
The kitchen is beautiful with custom built cabinets, granite counter tops, and tile flooring. The basement is fully finished. The home is beautiful. The curb appeal is great. Take a look at some inside pictures by clicking on this link to 1965 Shetland.
If you know someone interested in a very clean Highland area home under $250,000, have them call me, Greg Johnston, Realtor at 208-232-9041. Thank you.
Greg on TV. 2012 real estate forecast.
About two weeks ago I was interviewed by local TV station KPVI Channel 6 for their story on the Pocatello, Idaho real estate market. They were curious to have a local real estate expert explain to them what is happening in the market now, and what we think may happen in 2012. The segment was titled, "Signs point up for local real estate market."
Many people have commented to me about this news story and thought the information was helpful and informative. If you did not see it on TV, here is a link to watch the segment on KPVIs website.
Of course a 20 minute interview is cut down to a three minute sement. There is so much to talk about with local real estate. Many people are curious what will happen with the real estate market in 2012. Will values go up or down? Will there be more foreclosures? What is my house worth? I think 2012 will be better than 2011. There are many signs that indicate that. Low interest rates, reasonable housing prices, a decline in available inventory (homes for sale) and people moving to Pocatello for new jobs all has an impact on our housing market. There are some fantastic homes for sale at great prices. I know of many great buys. If you are considering buying a new home, now is the best time. Call or email me with questions.
Pocatello Idaho foreclosure trends and sales figures
Our sales figures for January 2012 are comparable to the sales we had in January 2011. In 2011 there were 24 home sales. In 2012 we had 23 home sales. 23 home sales is not many considering there are about 70,000 people living in Bannock County. The good news is that the one year trend is trending upward with more sales in the past 12 months than the prior 12 months. Currently we report 699 sales compared to 678 sales for the 12 month period ending in January 2011. That is about a 3% increase in sales in one year – not great, but better than a decline. At the end of January we had 387 active homes for sale compared to 490 one year ago. Less inventory is a good sign, too.
I discovered one very interesting statistic. Again, in January 2012 we reported 23 home sales on the REALTOR MLS. To my surprise, 9 of the sold homes were bank owned foreclosures! That is about 40% of all sales were foreclosures! There were several that were over $300,000.
I was surprised to see 40% of home sales last month were foreclosures. I received a copy of the Bannock County foreclosure trends for Bannock County from Alliance Title Company. The foreclosure trends track how many notice of defaults are filed to begin a foreclosure, and how many homes are actually foreclosed on. Some homes are not foreclosed on if the home owner sells the home on a short sale or catches up their delinquent payments before the foreclosure sale date. In 2011 there were 221 homes foreclosed on in Bannock County, Idaho. This is down significantly from the 280 foreclosures the year before. It was nice to see a 21% decline in the number of foreclosures. That is a good sign for stabilizing the local real estate market. 221 is still a lot of homes compared to the 100 +/- foreclosures that we saw in 2005-2007, but it is less than the last year, and that is a good sign. Let’s hope the number of foreclosures goes down more in 2012.
Buying a home? Use a REALTOR!
Nationwide statistics show that there is an increase in the number of home buyers using a Realtor compared to trying to buy a home on their own. Based on research conducted by the National Association of REALTORS (NAR), 89% of all buyers used a REALTOR in 2011 compared to just 69% of all buyers ten years ago in 2001. An additional 7% claimed to have purchased their home directly from the home builder. That leaves just 4% of all home buyers who purchased a for sale by owner (FSBO) without the assistance of an agent.
There are many reasons why the trend is increasing for buyers to have an agent working for them. The real estate market is ever changing. It is difficult to have a good feel for the market when the average home buyer makes a purchase on average once every seven years. A real estate transaction is very complicated when you do it on your own. With the changing market it is important to have a full-time real estate professional to help you. A REALTOR® will know the local market. They can help you find more homes to look at than you can on your own. They can explain the home buying process, market fluctuations, and help with negotiating, paperwork, and answering the questions you have.
A home purchase is often the largest purchase a person makes in their lifetime. You do not want to make a mistake. It is important to have a real estate professional to guide you through the process. It is important to have someone looking out for your interests.
As a full-time REALTOR® in Pocatello, Idaho, I can help you with your home purchase. I have received specialized education and training to work with buyers. I have a special real estate designation known as Accredited Buyer Representative (ABR). As an ABR, I can help you with existing homes for sale, new homes for sale, building a home, and purchasing a foreclosure. I also have experience in selling rental homes as investment properties, bare land, and small commercial properties. When you are ready to buy a home in Pocatello, Idaho, call Greg Johnston, REALTOR®. I know where the best buys are. Call 208-232-9041 or email Greg@JohnstonTeam.com.
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Recent Posts:
- Home for sale with owner financing $77,400
- Receiving a lowball offer on your home
- Super clean home for sale $284,900
- 1st Quarter 2012 Pocatello Idaho Real Estate Market Statistics
- Building a New Home
- Spring cleaning to sell your home
- Super clean home for sale $229,900
- Greg on TV. 2012 real estate forecast.
- Pocatello Idaho foreclosure trends and sales figures
- Buying a home? Use a REALTOR!
Real Estate Links
- Johnston Team Pocatello Real Estate – The Johnston Team Website