Greg Johnston Real Estate Blog Pocatello Idaho Real Estate Information

2Aug/160

2016 Pocatello Parade of Homes

The 2016 Pocatello, Idaho Parade of Homes is coming up soon. It is scheduled for August 11-13th, 2016. The Southeast Idaho Building Contractors Association has a great parade this year. There are 15 homes for you to see. This is a great opportunity to see new homes and support our local home builders. Tickets are very affordable and can be purchased at the offices of the major sponsors such as Citizens Community Bank and Franklin Building Supply. If you are looking to build a home, call Greg Johnston, Realtor at 232-9041. I can help you find land to purchase, show you floor plans, and get you in contact with a great local home builder. It is an easy process and you get the home you have always wanted. Enjoy the parade!

28Jul/160

Log home for sale on Buckskin with 5 acres

For sale is a log home nestled in the trees. This setting is incredible. It is private and peaceful. Each time I am at this home I see birds, wild turkey, deer, and other animals. The Buckskin area is very popular. This home sits off the main street on a quiet, private road. The home is in great condition. It has a large living room, kitchen, and dining area. The home has 3 bedrooms and 2 bathrooms. There is a 1 car attached garage plus a two-car detached shop. Take a look at the pictures by clicking on this link: Buckskin. List price is $269,500. If you are interested, call me. This one will go fast. Call Greg Johnston at 208-232-9041.

25Mar/160

Greg on News Channel 6

I was interviewed by the local news station about the real estate market. It ran as the lead story. There is a lot of discussion about the real estate market picking up. I thought you may like to see the video. Take a look and let me know if you have any questions.

Watch the video: Pocatello real estate

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11Mar/160

Entry level investment property for sale

Considering investing in real estate but you don't want a big apartment complex to deal with? Here is a clean single family home to invest in. This is a safe investment. It is undervalued at only $82,900, and it has a long term tenant in place paying $775 per month. There is even a property manager in place already. It is a turn key investment. If you are ready to invest in Pocatello real estate, give me a call so we can discuss investment opportunities. If you want more information on this home, click on this link: 707 Franklin.

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26Jan/160

Price reduced! Pocatello 4plex for sale.

Hello! Here is a residential investment opportunity. Current list price is $125,000, but the seller said he will accept $110,000 cash - a $15,000 discount! This fourplex is located at 334 S. 5th in Pocatello, Idaho. It is located just a few blocks from the campus of Idaho State University. It is an older building built in 1925 but is in overall good condition - new roof last year, etc, but the building can still use some cosmetic updating. The units are small - two studios, one one-bedroom apartment, and a two-bedroom apartment. Rents total $1,275 per month with definite potential to increase them. With long-term tenants the rent has not increased for years. The owner pays some utilities - water/sewer/garbage and one electric meter. Here is a link to view the MLS listing details: 334 South 5th.

All four units are currently rented. A property manager is in place. This is turn key. If you, or anyone you know, has an interest in this property, contact Greg Johnston, listing agent, Keller Williams Realty at 208-232-9041 or email PocatelloRealtor@GMail.com. If this is not exactly what you invest in, contact me. I know of single homes for rent, bare land in CRP for seven more years, and larger apartment complexes for sale. Thank you.

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8Jan/160

2015 Pocatello real estate market statistics

The Pocatello, Idaho real estate market saw a significant increase in the number of homes sales in 2015 compared to the prior year. This is a good sign of market stability. In 2015 there were 1,014 single family home sales in Bannock County reported on the MLS compared to 888 in 2014. That is a 12% increase in sales. The year ended strong with 72 home sales in the month of December compared to 52 sales in December 2014. The average sales price did not increase. It remained flat. In 2014 the average price of a home sold in the Pocatello area was $157,996. In 2015 the average sales price was $157,859. It is nearly identical! You might expect home values to be much higher since we had more homes sell this year. Values did not go up, but some of the inventory was absorbed. So, home values did not go up yet, but with less inventory and a stronger demand, we can expect home values to rise in 2016. At the end of December 2015 we only had 277 single family homes listed for sale. One year earlier there were 359 homes listed for sale.

New construction remains popular, but we had fewer new homes sold on MLS last year. This is due to fewer available building lots. Many new home sales are not reported on MLS. Also, investment properties had an increase in sales. 55 multi-family units sold in 2015 compared to 45 in 2014.

Here is a link for you to click on and get a copy of the 2015 Market Statistics.

Feel free to contact me if you have any questions. 208-232-9041.

18Nov/150

Building lots in Inkom Idaho near Pebble Creek Ski Area

Take a look at this incredible subdivision in Inkom, Idaho. The views are amazing! You have an unblocked view of the valley and are just below a beautiful mountain view. This is Peerless Parcels Estates. There are nine lots available to choose from. Most lots are 1.11-1.50 acre and ranging in price from $89,900 to $134,900. This is an open space subdivision. That means the homes and lots are not close together. You have over 10 acres of open space that will not be built on. This space has trees and a natural spring on it. This subdivision is located just below Pebble Creek Ski Area. It is beautiful. Take a look at the details and additional pictures by clicking on this link for Peerless Parcels.

If you are looking to build a custom home, you need to look at Peerless Parcels Subdivision in Inkom, Idaho. Quiet location, incredible views, and a great location near Pebble Creek Ski Area. For a plat map, copy of the restrictive covenants, or more information, contact Greg Johnston, Realtor at 208-232-9041.

28Oct/150

Old Town Pocatello 2015 Halloween Trick-or-Treat

This Saturday is Halloween. The annual Old Town Pocatello trick-or-treat is scheduled for Halloween Day, Saturday the 31st between 3:00 and 5:30. Make sure to stop by my real estate office at 150 N. Main on the corner of Main and Clark Street. We will have candy for all the trick-or-treaters. This annual event is sponsored by local businesses along Main Street, Arthur Street, and some of the side streets. Look for the orange signs in the window of participating businesses. Last year had over 4,000 kids. It is a big event. Have a fun and safe Halloween. Greg Johnston, Realtor

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23Oct/150

How do homeowners accumulate wealth?

I found this article to be very interesting. It discusses how a homeowner can accumulate wealth much easier than someone who is renting. It suggests not to try and time the housing market to buy a home or investment property, but anytime is good since in the long run values go up and you pay down the balance every month as you make a mortgage payment. I suggest you read this and buy more real estate.

By Lawrence Yun, National Association of REALTORS Chief Economist

"The differences between buying and renting are massive. According to the Federal Reserve, a typical homeowner’s net worth was $195,400, while that of renter’s was $5,400. The data reflects 2013 and the next survey of household finances, which is conducted every three years, will be out in 2016. Based on what has happened since 2013 and projecting a conservative assumption of what could happen next year to home prices if we see only 3% price growth, the wealth gap between homeowners and renters will widen even further. The Fed is likely to show a figure of $225,000 to $230,000 in median net worth for homeowners in 2016 and around $5,000 for renters. That is, a typical homeowner will be ahead of a typical renter by a multiple of 45 on a lifetime financial achievement scale.
Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked. A vast majority of homebuyers take out a 30-year fixed rate mortgage to make a home purchase. After 30 years, there is no mortgage payment (nor rent payment). So the home price growth over that time period would be the equity that the homebuyer would have accumulated.

This simple example does not play out nearly as neatly in the real world, since people do not stay in one residence over the 30 year period. Almost all homeowners trade up, change neighborhoods, or move to a better school district at some point. However, they are able to make those residential relocations due to the housing equity accumulated, even over a shorter period, and can immediately apply that equity to the next home as a down payment. Therefore the conditions of steadily building housing wealth still hold.

We also know that not everyone can or should be homeowners. The memories of easily accessible subprime mortgages and subsequent harsh foreclosure pains are still fresh, and remind us of the devastating impact on the families involved, local communities, and to the broad economy. In addition most young adults have not developed the financial standing or have found a stable, desirable career and, therefore, choose not be homeowners until later. The homeownership rate among households under the age of 35 is 35% currently and rarely rises above 40% historically. For those under the age of 25, the current ownership rate is 23% and rarely rises above 25%. But the time will eventually come when people want to convert to ownership. By the time people are in their prime-earning years of 45-to-55, nearly three-fourths do eventually become homeowners. By retirement, nearly 80% are homeowners.

Most consumers appear to already understand the simple math and the benefits of homeownership. So don’t over think the matter of whether now is a good time to buy, or whether stock market returns will be better. The exact timing of a home purchase will have little financial impact in the big scheme of things. Just know that homeowners generally do come out ahead of renters in the long run."

14Oct/150

Why to invest in Pocatello Idaho real estate

As a real estate investor, you are willing to invest in any market that helps you achieve your investment goals. Your goal is to make money. Some investors like to purchase property close to where they live. Others are willing to invest in property anywhere across the Country that makes sense financially. As you look for investments, please consider investing in Pocatello, Idaho. I think you will like what you can find in this community.

My name is Greg Johnston. I am a REALTOR and real estate investor. I manage my own real estate investments. Having worked in real estate as a REALTOR and property manager for 16 years, I know about investment properties. I know which properties will make money, be easy to rent out, and which are the best investments. I currently manage 70 properties and know what tenants are looking for. There are many great opportunities for real estate investing in Pocatello, Idaho. Let me tell you about this market.

Pocatello is a city of approximately 54,300 people. There is also an adjacent city of Chubbuck with an additional 15,200 people. In our market area we have a population of 69,500 people. Pocatello is a University town. It is home to Idaho State University (ISU). The additional 15,000 students at ISU give us a large pool of people who need to rent homes and apartments. Pocatello has a large demand for rentals. One statistic provided by the Greater Pocatello Chamber of Commerce shows that Pocatello has 22,388 housing units. 13,011 are owner occupied and 7,532 are occupied by renters. That is a large percentage of renters. The vacancy rates are very low in Pocatello due to the large number of potential tenants.

Real estate values are very reasonable. The average sales price of a single family home is $154,000. We have a very stable real estate market. Many out of state investors love the stability our real estate market offers. Pocatello does not offer large annual appreciation, but it also is most likely not going to have large periods of depreciation, either. A 30-year average shows annual home values appreciate 3% per year. The investment market is also stable. I have never experienced a period of needing to lower rents to fill a vacancy. Rents do increase gradually over time. Values of apartment complexes increase as the rental income increases with it.

Locally, we have a large demand for rentals. Small one and two-bedroom apartments rent out well. So do large homes. I have rented small studio apartments to tenants for $300 per month and large executive homes for $2,000 per month. We need investors to provide homes for people to rent. There is a strong demand for homes and apartments in all price ranges. I can always find several good investment properties at any given time. I can find undervalued single family homes, duplexes and fourplexes, large apartment complexes, and commercial properties. Whatever you like to invest in, I can find it for you.

Please do not be concerned about investing in a market out of the area where you live. Pocatello features many large property management companies who are set up to accommodate you. They have enough staff to easily handle managing more properties than they currently are. As a local REALTOR, I will get you in contact with qualified property management companies.

With low real estate prices, low vacancy rates, a large pool of potential renters, and local property managers in place ready to assist, Pocatello, Idaho is a great place for real estate investing. Please contact Greg Johnston, REALTOR, at 208-232-9041 to discuss investing in Pocatello real estate.

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