Greg Johnston Real Estate Blog Pocatello Idaho Real Estate Information

11Dec/140

Greg Johnston Real Estate on FaceBook

Are you a big FaceBook user? I now have a FaceBook page for Pocatello real estate. It is my business page that will have additional information on homes for sale, real estate commentary, and community events. It will not have as much detailed and in-depth information as this blog, but will have shorter postings about new listings that can be shared with others more easily. The longer write ups will continue to be featured on this blog.

To view the page go to www.FaceBook.com/GregJohnstonRealtor

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6Dec/140

Rockwell Homes is building new homes in Pocatello

I am the exclusive listing agent in Pocatello for Rockwell Homes, the largest home builder in Southeast Idaho. Right now we have eight new homes under construction that will be complete between mid-December 2014 and early April 2015. The prices range from $144,900 to $196,000. Each home is in Brookstone Subdivision in Chubbuck. Rockwell builds a lot of square footage for the price. Each home has at least a 2 car garage. Contact me if you want to discuss having Rockwell Homes build a new home for you or someone you know. I can show you floor plans, building lots, upgrade options, homes under construction, and pictures of recently completed homes they built. They have more than 1,000 satisfied customers thrilled with the new home they had built. Let me show you why Rockwell Homes is Southeast Idaho's #1 home builder. You will be impressed. Call Greg Johnston, Realtor, at 208-232-9041.

25Nov/140

Pocatello Idaho Night Lights Parade

Happy Thanksgiving! Mark your calendars for the annual Night Lights Parade the day after Thanksgiving in Pocatello, Idaho. On Friday, November 28th, 2013 at 6:30 p.m. This fun parade will go west through the Center Street underpass and then onto North Main Street of Pocatello. It will pass right by my real estate office – Keller Williams Realty at 150 N. Main Street. All of the parade entries will be covered with lights. It is a great way to begin the Christmas season. Santa will arrive and be available to the children. Dress warm. It is a fun parade every year. Arrive early, too. There are always events going on along Main Street and at the Old Town Pocatello pavilion.

20Nov/140

Newly built home for sale at 2085 Sunrise Pocatello

I have a new home for sale that was just built by Ed Quinn with Quinn Homes. This home is beautiful. The location is 2085 Sunrise, just off Satterfield Drive in Pocatello, Idaho. The list price is $319,900. It is a large 3,600 square foot home. The main floor has three bedrooms and two full bathrooms. The finish work is excellent. The kitchen is a must see! Custom built cabinets, granite counter tops, lots of cabinet space, decorative back splash, hardwood flooring, large pantry, and lots of natural light. There is a large master suite. The walk-in closet is oversized. The master bathroom has a decorative shower with tile shower surround and glass wall. Plus, the master bathroom has a jetted tub. 3 car garage. Gas fireplace. Popular Highland area location. City view. Great curb appeal. Take a look at the interior pictures by clicking on this link for 2085 Sunrise.

If you have an interest, or know anyone looking to purchase a home in Pocatello, Idaho, please call Greg Johnston, Realtor, at 208-232-9041. I would love to show this home to you or talk to you about having a custom home built for you.

17Nov/140

Home Pricing vs Activity on Your Home

ACTIVITY vs. TIMING

Timing is extremely important in the real estate market. A property attracts the most attention, excitement and interest from the real estate community and potential buyers when it is first listed. A home has the highest chance of a sale when it is new on the market. This graph illustrates the importance of placing your property on the market at a realistic price and terms from the very beginning. The majority of home sellers will see the most activity on their home the first few weeks it is listed for sale. Why? Because there are buyers waiting for new homes to come on the market. After your home has been for sale for two weeks, you are now waiting for new buyers to enter the market.

Don’t set the price of your home too high, thinking you can reduce it later. As indicated by the chart above, interest peaks when your home is new on the market. Many home sellers say, "We can always come down in price later." That is true, but you may have cost yourself the sale of your home by having it overpriced to begin with. You just missed out on all those buyers! I believe it is human nature to try to get as much out of your home as possible. However, a home sellers goal are first to get it sold and second to get top dollar. Make sure you are accomplishing your main goal by not pricing yourself out of the market.

How can you avoid overpricing your home? The best thing to do is to have me complete a market analysis on your home. A market analysis will show the sold prices of homes that are comparable to yours. Knowing what others have sold for will tell you where to price your home. Be realistic with the price you list your home for. The most frustrating part of selling a home is having it sit on the market and not selling in the time frame you need to. At that time you will take an offer lower than had you priced the home right in the first place. If you are ready to sell your home in Pocatello, Idaho, call Greg Johnston, REALTOR with Keller Williams Realty East Idaho at 232-9041.

13Nov/140

Pocatello Home Buying 101

How do you buy a home? Buying a home is a fun process. It does not need to be a stressful decision. Although it is a big change, getting a new home is exciting. It will be your home. Now is the time to get what you want and need. Many people do not buy a home because they think it is too difficult or they do not know where to start. Well, that is where I can help you. As a full-time real estate professional, I can help guide you through the home buying process and help you purchase a home. There are a few steps that you should know before rushing out to buy a home.

The first step in the home buying process is to meet with a lender and get your financing lined up. Some people want to go look at homes first, but that is not the first step. Unless you are paying cash, you need to get your loan lined up before looking at homes. Why is this so important? It is important because we need to know what price of homes to be looking at. The worst thing to do is to go look at homes priced at $150,000, fall in love with one, and then find out from your lender that you only qualify for $100,000. You will be disappointed because now you can not find the home you fell in love with in your price range. Nothing for $100,000 looks good after looking at $150,000 homes. So, save yourself a broken heart and start by finding out what price of a home you can afford. If you need help finding a good mortgage loan officer I can help recommend someone to you.

The second step in buying a home is to come up with a list of what you need in a home and what you want in a home. I know, you want to rush out and look at homes, but that is not the second step, either. Before you rush out to look at a home you need to know what you are looking for. Some people say, "I'll know what I am looking for when I see it." That works for some people with lots of time to look at one hundred homes, but if you know what you are looking for you can narrow down your search and save you a lot of time. Trust me, you do not want to look at one hundred homes. After a while you not be able to tell them apart and think clearly. Having a list of what you need in a home gives your REALTOR guidance to help find your home for you. I mentioned to make a list of what you need and a list of what you want. The list of what you need is a non-negotiable list of features you must have in the home. We will not deviate from this list. We will have it in your new home. The list of what you want are features that we hope to get for you, but if the home does not have it then you would still buy it because it fit your needs list. My experience shows that there is rarely a 100% perfect home for anyone, even if you build it. So, we want to get what you need in the home, and as many things that you want in the home. See, it is important to make this list!

The third step is to go look at homes! Yea! Finally! We get to look at homes! As your REALTOR, I should have a good idea of what you are looking for. As a full time real estate professional I preview many homes almost daily. I know the inventory. I can tell you what is available. I try to narrow down the list of available homes so that I am showing you the best homes available that meet your needs. You do not need to see dozens of homes. You only need one home. If you have accurately described what you are looking for you should be able to find it quickly.

Once you have found the home you want to buy, the next step is to make an offer to the seller. As your REALTOR, I will help you with the paperwork and negotiations. All serious offers should be in writing. It takes about 40 minutes to make a written offer. I will help you with everything. At that time I can give you advice on what a normal offer would be, and explain things that could be negotiated. Don't worry about the paperwork. That is my job. I will take care of all of it for you.

When you have found the offer and negotiated the terms, you have a home under contract. There are only a few other steps to complete prior to closing. You will need to continue to work with your lender to finalize the loan. You have the option to complete any home inspections that you want to. Your lender will require an appraisal to be complete. We also perform a title search to ensure there is nothing recorded against the home that will prevent you from being able to buy it. All of this can be completed within 3-4 weeks from the time your offer is accepted. If it takes just a day or two to find the home, that means you can find a home and move into it in about one month. See, it is simple and does not take very long.

When you are ready to buy a home in the Pocatello, Idaho area, call Greg Johnston, REALTOR, with Keller Williams Realty East Idaho at 208-232-9041.

29Oct/140

Old Town Pocatello Trick-or-Treat on Halloween!

This Friday evening, Old Town Pocatello businesses are hosting a business trick-or-treat. Please plan to attend this Friday, October 31st 2014, from 3:00 to 5:30 p.m. Participating businesses will have an orange poster in their window or on their door to let you know they are a participating business. Dozens of businesses do participate. Last year well over 1,000 children in costumes participated. The weather should be nice. Plan to attend. Most of the participating businesses are on Main and Arthur Streets, and some are on the side streets in between Main and Arthur. When you are trick-or-treating please stop by my real estate office. Please visit Keller Williams Realty East Idaho at 150 N. Main Street. Come visit on Friday for some candy, and come back next time to let me help you with buying or selling real estate. Greg Johnston, REALTOR

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10Oct/140

Pocatello real estate market statistics – 2014 third quarter

We are flying through this year! I can't believe it is October already. I have compiled the 3rd quarter 2014 Pocatello, Idaho real estate market statistics. As always, I have compared them to the previous quarter, and most importantly, the same quarter one year earlier. The statistics are always very interesting and give us a picture of what is happening with our local real estate market in Bannock County, Idaho.

At the end of September 2014 we have 509 single family homes for sale on the Greater Pocatello Association of REALTORS Multiple Listing Service (MLS). We had 514 at the same time in 2013. The numbers are almost identical. We have a large drop off of homes listed for sale from the previous quarter when we had 597 homes. That is normal, seasonal inventory levels. There are always more homes for sale in the summer than in the fall.

There are a few bright spots in the Pocatello real estate market. One bright spot is that we have 67 homes under contract compared to 54 at the same time last year. Also, home values have come up a little in the past 12 months. An average sales price is $154,715 compared to $150,940. It is only about a 2% annual appreciation, but I like that values are headed in the right direction. Year to date we have sold 709 homes. This is up compared to 679 homes at this time in 2013.

New construction is still selling. In the past 12 months we sold 48 homes. That is identical in the number of sales for that time frame last year. I am a little concerned that we will have fewer new home sales in the future. Not because of lack of demand, but because we are running out of building lots. Only 38 building lots have sold in the last 12 months. Only 64 building lots are on MLS. Not all of them are great building lots, either. Without a place to build, we will see fewer new homes selling unless Pocatello can get a new subdivision developed soon.

I think good things are happening in Pocatello and Chubbuck, Idaho. Although they are not huge gains, we are seeing gains in home values and home sales. I feel that we are in a "normal" market. We are stable. We are in a market that is consistent and not experiencing big swings up or down. If you have any questions about the Pocatello real estate market, contact Greg Johnston, REALTOR, Keller Williams Realty East Idaho at 208-232-9010. For a complete list of the market statistics click on this link: 2014 3rd Quarter Stats.

24Jul/140

2014 Pocatello Parade of Homes Information

It’s that awesome time of year again! The Pocatello, Idaho Parade of Homes is coming up soon. The parade is put on by the Building Contractors Association of Southeast Idaho. New construction is popular right now. The local home builders have been busy. This year has twelve entries to view. There are some very neat properties on display this year. Mark your calendar to attend. The 2014 Pocatello Parade of Homes will be August 7th – 9th, 2014.

On Thursday the 7th the homes are open from 1:00 until 9:00 p.m. On Friday the 8th and Saturday the 9th, the homes are open from 10:00 a.m. until 9:00 p.m. Tickets can be purchased at Citizens Community Bank Pocatello locations, Pocatello branches of Idaho Central Credit Union, and at Franklin Building Supply.

If you want a sneak peak at the homes, click on this link for a copy of the Parade of Homes magazine: Pictures of Homes

I am a REALTOR. If you have a desire to build a home, please call me. I can help you find a lot to build on, a floor plan to build, and line you up with a home builder I have done business with in the past and know will do a great job for you. I can also help sell your existing home so you can move into your new home. Give me a call at 232-9041 or email PocatelloRealtor@Gmail.com to begin the process of having a new home built. I have a few new homes for sale that have recently been built, and that are under construction. Contact me so I can tell you about them.

9Jul/140

2014 second quarter Pocatello, Idaho real estate statistics

We are in the busy summer selling season for Pocatello, Idaho real estate. The statistics have been compiled for the second quarter of the year. The real estate market statistics give us a good indication of what is happening right now, and what we can expect to see in the future.

As I look at the numbers and compare them to one year ago, I am surprised how close the sales numbers are to being identical. In June 2014 we sold 91 homes. June 2013 we sold 90 homes. In the second quarter of 2013 we sold 256 homes. In the same time during 2014 we sold 255. Year to date, we have sold 420 homes in 2014 compared to 411 in 2013. The new construction sales figures are nearly identical, too. In 2013 we sold 27 new homes in the first six months. In 2014 we have sold 25. The same holds true for twin homes and townhouses as we see 79 sales in 2013 compared to 76 sales in 2014. Other things that are comparable are the average days on market, the average list price, and the average sales price. I am amazed at how close the numbers are. I had expected our numbers to be higher than last year. The market is active and the local agents are busy.

There are a few numbers that are not identical. We have far more homes for sale right now than we did one year ago. We have 597 homes listed on the MLS now compared to 518 in 2013. Due to the laws of supply and demand, this will prevent us from seeing much appreciation in 2014. We have sold more multi-family homes so far this year, 32 compared to 22 at this time last year. That is a good sign that the investment market is picking up again.

Here is a link to view the full page of statistical data.

I expect the market to remain strong through the third quarter of this year before slowing down seasonally in the fall and winter months. Although home values are not increasing, they are stable, and stable is acceptable.

If you have any questions about the Pocatello, Idaho real estate market, call Greg Johnston, REALTOR® at 208-232-9010.