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.
I have just listed an incredible home that really is a rare find. This custom built home is located in Inkom, Idaho just below the Pebble Creek Ski area. The home is gorgeous. It was built was quality materials. It is located on 2.9 acres. The view of the valley below is incredible from many of the windows and especially from the covered deck. The price is $375,000. The combination of the desirable location, small acreage, excellent condition, great price, and incredible view is what makes this a rare find.
This is a two-story home. There are four bedrooms and two bathrooms on the upper level. The main floor has a large, gourmet kitchen. There is a dining area and family room off the kitchen. It is a large, open floor plan. There is also a formal living room and formal dining room. The home has a four car garage split in two sections. Two bays are on the main level, and two bays are accessible in the lower level of the home.
Click on this link to view the inside pictures of the home on Pebble.
If you are interested, or know anyone who may be interested in purchasing this home, call Greg Johnston, Realtor, at 208-232-9041. Thank you.
The first quarter real estate market statistics for Pocatello, Idaho have been compiled. The statistics are a very helpful gauge of the strength of the local real estate market. I think the first quarter of 2014 has given us some good insight. Here are some of the highlights:
A March 2013 vs. March 2014 comparison shows a slight increase in year over year sales. We sold 57 homes in March 2014, up from 53 in March 2013. The real increase is the figure for the past 12 months, meaning April 1st through March 31st, the end of this last quarter. The figure for the previous year (4/1/12-3/31/13) showed 734 home sales in that one year period. The figure for this current year (4/1/13-3/31/14) showed 869 home sales. That is a one year increase of 135 more home sales – 18%. That is a large increase! That is a good sign to see a large increase in home sales.
New construction continues to be increasing in sales as well. 5 new homes sold in March – that is about 8% of the market. New homes are popular.
Home values in the first quarter of 2014 are up from the first quarter of 2013. This year the average sales price is $145,063. The previous year was $139,529. That is a $4,500 increase, or about 3% increase in values. That is a good sign also.
The only concern I see is that the number of homes for sale right now has increased a lot. Last year at this time there were 463 single family homes listed for sale on the Pocatello, Idaho MLS. This year we report 523 homes for sale. Why such a big increase? In my opinion, the market has improved and many home owners are trying to sell their home in an improved market. Keep in mind that many of the homes listed for sale the last few years have not sold. With things improving, many home owners are saying, “Let’s try again now and see if we can sell our home.” The improving market is bring out more home sellers. This is providing a great selection for home buyers, but preventing the local area from an increase in home values. Do not be surprised to see flat, or low appreciation numbers this year.
Here is a link for the first quarter Market Statistics.
If you have any questions about the Pocatello, Idaho real estate market, or would like to buy or sell real estate, contact Greg Johnston, REALTOR, at 208-232-9041.
Real estate has always been a popular investment. There are a few types of properties that are popular with real estate investors. One popular investment is storage units. The other is manufactured home parks. I receive calls often from people asking if I have any storage units or trailer parks for sale. Many investors buy rental houses. However, storage units and trailer parks are popular because of the low maintenance required. For example, a mobile home park is just land. You rent the lot to someone and rarely have to worry about fixing things. It is a simple investment compared to a home where you have to worry about repairs to the plumbing, electrical, furnace, etc.
Right now I have two small mobile home parks for sale in American Falls, Idaho. One park has eight spaces. The other park has eleven spaces. Here are some details on the properties.
424 Lincoln, American Falls, Idaho
Eight lots in the park. Each lot rents for $155.
There is one older manufactured home included. It rents for $195/month.
Total monthly income is $1,435 if fully occupied. There are a few vacancies.
Expenses: Monthly water bill is $475. Monthly property taxes are $102.
Net income is $858 per month.
List price is only $55,000.
115 Roosevelt, American Falls, Idaho
Eleven lots in the park. Each lot rents for $155.
Two manufactured homes are included, but one is in poor condition.
One home is rented for $345 per month.
Total monthly income is $2,050 if fully occupied. There are a few vacancies.
Expenses: Monthly water bill is $591. Monthly property taxes are $149.
Net income is $1,311 per month.
List price is $100,000.
If you have wanted to purchase a trailer park, these could be the right investments for you. They are small and manageable, and located in an area where there is a demand for lots. Give me a call so we can talk more about it. Also, I know of many trailers for sale that you can buy, move to this park, and rent the homes if you want to. There are many investment opportunities. If you are looking to invest in real estate, please contact Greg Johnston, Realtor, at 208-232-9041.
Newly constructed homes are always popular with home buyers. There is definitely something special about owning a brand new home. Fresh smells, new carpet, and being the first owner are valuable to many people. Right now I have two new homes for sale built by Rockwell Homes that were just completed. The homes are located on Camden Street in Brookstone Subdivision in Chubbuck. One home is priced at $165,000. The other is larger and priced at $169,900. Both homes are ranch style homes with 3 bedrooms and 2 bathrooms on the main floor. The basement is unfinished. Two car garage. The builder offers a one-year warranty on the home. Click here to view the pictures of the homes: Camden.
We have some other new homes under construction right now. They will be in the same general price range. You can select your colors and materials for the home. Pick out the carpet, counter tops, and paint color. You can customize your new home. Plus, we have a twin home under construction that will be for sale around $135,000 per side. This twin home is a one-level home that is popular with buyers.
Have you been considering building a new home in Pocatello? Right now is the time to start working on it. Give me a call so we can discuss having a new home built for you. It will take 30-45 days to finalize your floor plan and obtain a building permit. It then takes 3-4 months to build the home. If you start now you can enjoy your home this summer. We can help you build any home on any lot in any price range. You can choose from a home we are currently building, or you can bring us your custom floor plan.
Looking to build? Give me a call, Greg Johnston, Realtor at Keller Williams Realty East Idaho, 232-9041. I can also help you sell your current home.
2013 has come to an end. I have compiled the sales statistics for the Pocatello, Idaho real estate market. I like to compare market data with previous years. This year to year comparison gives us a great indication of what is happening with the local real estate market. Overall, 2013 was a good year for real estate home sales in Pocatello, Idaho. We had more home sales than the last few years, and more than we have had in one year since 2009. Click here for a copy of the 2013 Market Statistics. I think you will find them to be very interesting and informative.
There are a few things that really stand out to me. 1- We have more homes on the market right now than we had at this time last year. We have 429 homes on the MLS right now. We had 359 at the end of 2012. I think home owners are seeing that homes are selling and so more people have put their home up for sale. Many people may not have been able to sell their home in the last few years and now feel they may be able to sell it. The main negative with more homes for sale is that it will prevent home value appreciation. 2- We sold 861 homes in 2013. That is up a lot from the 705 home sales in 2012. That is about a 20% increase in home sales. That is a huge jump! It is nice to see so many more sales. 3- 50 new homes sold in 2013 compared to 25 newly built homes in 2012. The number doubled. New construction in the Pocatello, Idaho area is rebounding! 4- The average sales price in 2013 was $151,690. In 2012 it was $146,251. Although it is not a big jump, it is still a 3.5% increase in home values. After years of depreciation we will gladly take any home value appreciation we can get.
Last year I predicted a strong 2013 and I was right. Sales increased. I also said new construction would be strong. I was right. New construction was stronger. What is the forecast for 2014? I am confident that the Pocatello, Idaho real estate market will remain strong, but I do not expect another 20% increase in home sales. I expect the total number of home sales in 2014 to be comparable to 2013, but it may be slightly less. Last year we had a busy January and a great start to the new year. This year it is slower in January than it was last year. Rumors are that mortgage interest rates will continue to rise. A rise in interest rates will deter some home buyers. Let’s hope we have 861 home sales in 2014, but do not be surprised if we have a slight pull back to the 800 range.
The real estate market is good right now. If you have an interest in selling your home, buying a new home, or investing in real estate in the Pocatello, Idaho area, please contact Greg Johnston, REALTOR, at Keller Williams Realty East Idaho at 208-232-9041.
It is officially winter time in Pocatello, Idaho. With the very cold weather we have experienced recently I felt it would be a good idea to discuss ways to keep a home warm and inviting. This applies not only to current home sellers, but to everyone in general.
With cooler temperatures, home owners will want to keep a home inviting and cozy, especially if they’re trying to sell it. But just cranking up the heat can be expensive — particularly this year with heating costs having been increased. Heating costs are on the rise. For example, households using natural gas will likely see bills 13 percent higher this year than last, paying on average $679 for heat this season.
So what are some quick, affordable ways to keep a home warm? There are some good ideas found in a free eBook called “The Cure for the Common Cold Room: A Safe & Smart Home Heating Guide,” by ElectricFireplacesDirect.com. It offers up numerous tips and tricks to home owners and sellers for keeping a home warm this winter. Here are a few ideas from the book:
1. Add area rugs: Hardwood and tile floors can make your home feel cold in the winter. Add some area rugs to provide a warmer barrier between your feet and the floor. Non-skid utility rugs or rubber mats can make kitchen floors more comfortable and safe, according to the eBook.
2. Set ceiling fans to run clockwise: Yes, a ceiling fan can be used in the winter months too and can even help heat your home. The majority of ceiling fans have two settings: Counterclockwise cools rooms in the summer and clockwise can force warm air downward in the winter. Look for a small switch on the ceiling fan to change its direction clockwise for the cooler months.
3. Rearrange furniture: Check the arrangement of the furniture in the home to make sure it’s cozy. Often times, home owners spread out furniture to fill an entire room. Instead, group pieces together to get a warmer feel. Move furniture away from the windows and doors and closer to the fireplace, if there is one in the home.
4. Add moisture to the air: Humid air feels warmer than dry air. Therefore, a humidifier may make a difference. Cool mist and warm mist humidifiers can both be effective in making rooms feel warmer. “A cool mist humidifier is safer — and usually less expensive — because it doesn’t expel hot water or steam vapor that could hurt children or pets,” according to the book.
5. Let the sun shine inside: Use the sun to heat your home by adjusting the home’s curtains to let the sun in. Open south-facing curtains on sunny days. Also, be sure to close curtains at night to provide an extra barrier against winter winds that are trying to squeeze inside the home.
6. Seal gaps around doors and windows: A little caulking and weather stripping can go a long way to keep out cold air. Seal it up. Even simple things such as placing a small towel under an exterior door can help to keep out a cold draft.
Home sellers need to make sure their home looks and feels good to potential home buyers during the winter months. It is important to keep the home warm. It is also important to be safe. Shovel snow and remove ice from all walkways so visitors do not slip on the ice.
Homes sell year round. You do not need to take a home off the market in the winter. If you have an interest in selling your home in Pocatello, Idaho, call Greg Johnston, Realtor, at 208-232-9041.
Happy Thanksgiving! Mark your calendars for the annual Night Lights Parade the day after Thanksgiving in Pocatello, Idaho. On Friday, November 29th, 2013 at 6:30 p.m. this fun parade will go through the Center Street underpass and then down 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.
Right after the parade will be the long anticipated lighting of the Chief Theatre sign. This will happen at about 8:00 p.m. once the parade is over. This is in the 200 block of North Main Street.
These community events are sponsored by Old Town Pocatello.
I want to announce some exciting news! Our real estate company has changed its name and has joined a national franchise. The Home Specialists Real Estate Company is now known as Keller Williams Realty East Idaho. We are still in the same location at 150 N. Main Street in Pocatello, Idaho. We did not change locations. You will begin to see some new for sale signs in the yards of the homes we are marketing for sale.
A national franchise can offer us additional support and exposure on the homes we have listed for sale. This change will be very beneficial to the agents in our office as well as the sellers we are working for. You will no longer see The Home Specialists advertising, but I am still available to help you, just under a new company name.
If you have any questions about Keller Williams Realty, or about the Pocatello, Idaho real estate services I offer, please call Greg Johnston, Realtor, at 208-232-9010.